Crypto News
Ether Eyes Biggest Monthly Gain Since 2022 as ETFs, Corporate Treasuries Drive Rally
Ether (ETH), the native token of the Ethereum blockchain that turned 10, just had its best July performance in three years.The second largest cryptocurrency climbed more than 50% in July, peaking at $3,940 before easing below $3,800 towards the end of the month.The last time ETH rose this much in a single month was July 2022, rebounding from the depths of the crypto crash marked by high-profile implosions of Terra-Luna, Three Arrows Capital and Celsius.This time, the rally has a different driver with money pouring in from capital markets.U.S.-listed spot ETH exchange-traded funds (ETFs) absorbed $5.4 billion of net inflows through the month, their strongest streak since the products debuted last year, SoSoValue data shows.Corporate balance sheets are also following...
US Lawmakers Travel to Argentina: Local Crypto Ecosystem Examined
A group of U.S. lawmakers traveled to Argentina and met with President Javier Milei and other local crypto organizations to examine how the local ecosystem operates. The trip aimed to discuss regulation and identify joint challenges related to stablecoin adoption. U.S. Lawmakers Visit Argentina to Study Crypto Regulation and Discuss Adoption Argentina, a country knownSource link
Strategy Looking to Raise $4.2B Via Preferred Stock to Stack More Bitcoin
Strategy (MSTR), the largest corporate holder of bitcoin, plans to raise as much as $4.2 billion through sales of a newly issued preferred stock series, according to a Thursday filing with the U.S. Securities and Exchange Commission.The offering comes just days after the company sold nearly $2.5 billion worth of STRC, or "stretch," to investors and the stock debuted trading on the Nasdaq Global Select Market. The shares pay a 9% variable dividend, adjustable at the company’s discretion to maintain market price stability.The filing also coincided with the firm reporting second-quarter net income of $10 billion driven by bitcoin's price gains during the quarter.Read more: Strategy Earned $10B in Q2 on Back of Bitcoin Price GainSource link
Why This SharpLink Whale Holds Millions in SBET—But Not Ethereum
SharpLink Whale currently holds more than $3.2 million worth of SBET, but literally no Ethereum—here’s why.Source link
Record Quarter: Strategy Earns $10B, Files $4.2B Offering to Buy More Bitcoin
Strategy Incorporated, formerly operating as Microstrategy, has filed for a $4.2 billion offering of its Variable Rate Series A Perpetual Stretch Preferred Stock (STRC) while reporting record second-quarter net income of $10 billion, driven by unrealized gains on its massive bitcoin holdings. Strategy Announces $4.2B STRC Offering and Record $10B Q2 Net Income Strategy filedSource link