Crypto News

A tsunami of new bitcoin BTC treasury companies — firms that almost exclusively dedicate themselves to accumulating bitcoin — is flooding the market.Since all of them are more or less following Strategy’s (MSTR) playbook, questions are rising about the best ways to value them, and compare them to each other.“The most important metric for a bitcoin treasury is the premium it trades at relative to its underlying net assets, including any operating company,” Greg Cipolaro, global head of research at bitcoin financial firm NYDIG, wrote in a June 6 report.On the surface, that means adding up the company’s bitcoin, cash and enterprise value excluding the bitcoin stuff, and subtracting obligations such as debt and preferred stock. “It’s this premium that...

The publicly traded firm aims to amass more Bitcoin for its corporate treasury through an “at-the-market”-type offering, in partnership with a Paris-based asset manager. Source link

Tether CEO Paolo Ardoino announced that the company will work towards open-sourcing its Bitcoin Mining Operating System (MOS), aiming to enable a new wave of bitcoin mining companies to enter the market and enhance network security. The MOS is designed to create a level playing field by reducing the reliance on third-party hosted software, therebySource link

Plasma, a crypto startup developing a blockchain optimized for stablecoins, attracted $500 million in deposits for its token sale on Monday — 10 times more than originally planned.The fundraising cap was filled in five minutes as investors scrambled to earn an allocation for the token distribution, according to blockchain data from Arkham Intelligence. The ceiling was lifted from $250 million, which had already been increased from a $50 million original target announced just two weeks ago.Over 1,100 wallets participated in the sale of Plasma’s XPL token, with a median allocation of roughly $35,000, the company said in an X post. The offering was conducted on Sonar, a public token sale platform built by Echo, a crypto-focused private fundraising startup led...

Following the Wrapped Bitcoin case dismissal, Coinbase said it will never “be bullied” into listing an asset “that puts our customers at risk.”Source link