News linked to both this project and an event.
法国上市比特币财库公司 Capital B 宣布增持 192 枚 BTC，价值约 1300 万欧元（约 1520 万美元），买入均价约为 78948 美元。此次增持后，Capital B 的比特币总持仓量升至 3135 枚 BTC。此前，该公司曾宣布完成 1780 万美元融资，投资方包括 Blockstream CEO Adam Back 及巴黎资产管理公司 TOBAM。数据显示，Capital B 目前为欧洲第二大比特币财库公司，仅次于持有 3605 枚 BTC 的德国 Bitcoin Group SE。尽管公司持续推进比特币财库策略，其股价在公告发布后仍下跌约 2.4%。（Cointelegraph）
Sharplink CEO Joseph Chalom stated that Ethereum treasury companies are gradually deviating from the model of Strategy and Michael Saylor, focusing more on staking yields and a clean balance sheet rather than relying on complex financing structures.Chalom believes that Ethereum treasury companies can generate returns directly by holding ETH, thus eliminating the need for excessive leverage. He also indicated that only a few Ethereum treasury companies will be able to survive through market downturns.Furthermore, citing BlackRock CEO Larry Fink's previous views, he described Ethereum as a "tokenized toll road" and pointed out that the New York Stock Exchange and Nasdaq's push for 24-hour trading plans, DTCC's exploration of tokenized collateral, and Bullish's acquisition of Equiniti will all further drive tokenized assets into the traditional financial system.Chalom expects that as stablecoins, tokenized assets, DeFi, and AI applications continue to expand, Ethereum will gradually forge a different development path from Bitcoin in the future. (The Block)
According to Bloomberg, Tyler Winklevoss and Cameron Winklevoss have made a $100 million strategic investment in New York–based cryptocurrency exchange Gemini Space Station Inc. through Winklevoss Capital Fund, purchasing Class A common stock at $14 per share, with payment made in Bitcoin. Following the announcement, the company’s stock rose approximately 15% after hours. As of Thursday’s close, its share price stood at $5.26—down more than 80% over the past year. Gemini’s net loss narrowed to $109 million in Q1, compared to $149 million a year earlier; revenue grew 42% to $50 million, driven primarily by income from services such as credit cards. CEO Tyler Winklevoss stated that the market has severely undervalued Gemini, and this investment will help the company transition from a crypto firm to a broader market company. Gemini went public in September 2025, shortly after which the crypto market entered a downturn.
according to sources familiar with the matter, MetaMask developer Consensys has postponed its U.S. IPO plans to earliest this fall. The company originally planned to submit a draft S-1 filing with the SEC by the end of February, but market demand weakened due to the market downturn in February, macroeconomic uncertainty, and Bitcoin ETF outflows. Besides Consensys, Kraken and Ledger have also paused their IPO plans.Consensys completed a $450 million funding round in 2022 at a valuation of $7 billion. Additionally, BitGo, which was the first crypto company to go public in 2026, raised $213 million but has since seen its stock price drop 36% from its $18 offering price, reflecting the public market's cautious approach toward valuing crypto infrastructure companies.
Odaily Odaily News Gate Research recently released its "April 2026 Cryptocurrency Market Review" report, indicating that the overall cryptocurrency market saw a volatile upward trend in April, with total market capitalization significantly higher than in March. BTC and ETH ETF trading volumes maintained high volatility overall. The report shows continued divergence in activity across major public chain ecosystems. Solana's daily transaction volume remained in the range of approximately 90 million to 110 million transactions, maintaining its leading position.Regarding trending sectors, the report notes that Pokemon TCG RWA has become one of the fastest-growing on-chain RWA sub-sectors, entering a second explosive growth phase in April. Major trading platforms saw monthly trading volumes exceed $220 million, with weekly revenue briefly approaching $6 million, setting new historical records. Meanwhile, Aave experienced its most severe liquidity crisis ever in April, with TVL outflows reaching tens of billions of dollars within a few days and net outflows exceeding $9 billion for the entire month.In terms of fundraising and security incidents, the Web3 industry completed 51 financing rounds in April, totaling approximately $834 million, with capital further concentrating on leading financial and infrastructure tracks. Among these, Payward ranked first for the month with a $200 million financing round. On the security front, Web3 security incidents in April resulted in losses of approximately $306 million, a month-over-month increase of about 858%, primarily driven by a single cross-chain infrastructure attack on Kelp DAO worth approximately $293 million. The report suggests that against the backdrop of a recovering market, on-chain activity and capital liquidity are both increasing simultaneously. However, the security risks associated with cross-chain infrastructure and high-leverage protocols remain worthy of continued attention.
Delphi Digital stated that Strategy has primarily relied on issuing stocks at high premiums and low-cost convertible bonds over the past years to secure funds for continuously increasing its Bitcoin holdings. However, this financing window is now essentially closed.Delphi points out that common stock financing is currently constrained by the Market-Adjusted Net Asset Value (mNAV), and new convertible bond issuance has also been suspended. STRC has thus become its primary financing channel. Since STRC has a lower repayment priority in the capital structure compared to convertible bonds and preferred shares, it requires a high yield of approximately 11.5% to compensate investors for the impairment risk they bear.Delphi believes that Strategy is currently continuing its Bitcoin accumulation plan by paying higher financing costs, buying time to address the large debt repayments maturing in 2028.
crypto research institution Delphi Digital has released its latest report, "How Far Can Saylor Stretch It," providing a systematic analysis of Strategy's Bitcoin (BTC) capital expansion mechanism. It indicates that the company's financing structure is transitioning from a phase of "low-cost accumulation" into one of "diminishing marginal efficiency."The report shows that within the current asset accumulation system centered on Bitcoin, STRC has become the core financing tool for Strategy's continued BTC purchases. Initially, the company relied on a significant premium in MSTR's stock price (with mNAV far exceeding BTC's net asset value) to create a positive cycle where "issuing shares meant increasing holdings." However, as valuations have receded to approximately 1.24 times the base mNAV of enterprise value, the BTC-per-share accretion effect from common stock issuance is approaching a break-even point.Meanwhile, while convertible bonds have played a crucial role historically, they have accumulated a principal of approximately $8.2 billion and face concentrated repayment pressure after September 2027, putting long-term strain on the sustainability of the financing structure.STRC provides Strategy with a continuous source of financing—used to maintain its BTC buying pace—by offering yield-seeking investors an approximately 11.5% annualized monthly dividend. However, this mechanism also introduces ongoing cash flow obligations, meaning that each round of financing simultaneously builds future dividend burdens while increasing BTC assets.The report emphasizes a key risk scenario: if BTC's price remains stagnant and MSTR's premium fails to recover, the "gains from STRC-financed coin purchases" could be progressively offset by "common stock dilution and dividend obligations." Although the company's approximately $2.25 billion cash reserve can cover its roughly $1 billion redemption pressure in 2027, its larger debt and dividend structure in 2028 remains unresolved.Furthermore, STRC's current authorized issuance limit of approximately $28.3 billion serves as a critical constraint. Once this limit is reached, the capacity for new BTC purchases may slow, yet existing dividend obligations will persist—thereby altering the overall dynamic growth trajectory of BTC per share.
Genius Group, a Nasdaq-listed bitcoin treasury company, has disclosed a strategic investment of $5 million in digital bank Jewel Bank, acquiring a 9.9% equity stake in the company. It is reported that Jewel Bank is developing a U.S. dollar stablecoin, JUSD, planned to be backed by a 1:1 reserve of cash and U.S. Treasury bonds, with a target launch in the second half of 2026. The bank will also launch a real-time settlement system and offer white-label banking and stablecoin infrastructure services for enterprises. Following this investment, Genius Group will enter the regulated digital banking and stablecoin issuance sector. (Globenewswire)
Odaily Odaily News According to the latest weekly report from Gate Ventures, global markets continued to strengthen last week, driven by the technology sector. Both the S&P 500 and the Nasdaq index hit new record highs, with the S&P 500 gaining 2.36% for the week and the Nasdaq rising 4.52%. In the crypto market, BTC rose 4.6% last week, ETH rose 2.1%, spot BTC ETFs recorded net inflows for the fifth consecutive week, and market sentiment recovered to the neutral range. Additionally, the total market cap of cryptocurrencies excluding the top ten assets increased by 12.6% for the week.On the macroeconomic front, the ISM Services Price Index rose to 70.7, a two-year high, coupled with energy price fluctuations and the Federal Reserve's policy expectation of "keeping interest rates higher for longer," leading to increased market focus on a "stagflation" environment. On the industry level, Payward, the parent company of Kraken, has applied to the OCC for a national trust charter, highlighting the increasingly evident trend of industry compliance. In terms of investment and financing, 10 deals were completed last week totaling $34.2 million, primarily concentrated in the DeFi and infrastructure sectors. Among them, OpenTrade completed a $17 million funding round to accelerate the development of institutional-grade stablecoin yield infrastructure; OnRe secured a $5 million Series A round to advance its Solana-based tokenized reinsurance product offerings.
Odaily Bitcoin mining and AI computing infrastructure company IREN Limited announced plans to privately issue $2 billion in convertible senior notes due 2033 to qualified institutional investors under Rule 144A, with an option to increase the offering by an additional $300 million.These convertible notes are unsecured senior debt instruments, paying interest semi-annually, maturing on December 1, 2033. Investors can convert the bonds into common stock of the company under specific conditions. The company may settle repayments or conversions in cash, shares, or a combination of cash and shares. According to the terms, IREN can redeem the notes early after June 2030 if certain stock price conditions are met. In the event of a "fundamental change," investors can demand the company repurchase the bonds at par value plus accrued interest.Regarding the use of proceeds, the company will allocate a portion to cover the cost of the "capped call" transactions, with the remainder for general corporate purposes and working capital. This structure is designed to hedge against potential equity dilution from the conversion of the notes. Concurrently, IREN will enter into hedging agreements with financial institutions to mitigate conversion risk through derivatives and stock transactions. This mechanism may not fully offset dilution if the stock price exceeds the set "cap price." Additionally, the hedging counterparties may engage in related transactions during the issuance and life of the notes, which could impact IREN's stock price and the value of the convertible notes.Overall, this financing arrangement enhances the company's capital flexibility while introducing a relatively complex structural hedging mechanism to balance expansion funding needs with equity dilution risk. (Globenewswire)
Capital B announced a private placement raising €15.2 million by issuing 23,038,844 shares at €0.66 per share, each accompanied by four warrants. Investors include global institutional investors such as Adam Back and TOBAM. The company stated that the proceeds will primarily be used to increase its Bitcoin holdings; combined with existing operating capital, this could enable the acquisition of an additional 182 BTC, potentially bringing its total Bitcoin holdings to 3,125 BTC. If all warrants issued in this offering are fully exercised, the company could raise an additional €99.1 million.
: Crypto analyst Axel Adler Jr stated that although Bitcoin rebounded after falling from around $125,000 to $60,000, the current trend remains a "repair after decline" and has not yet been confirmed as entering a new bull market cycle.He pointed out that from an on-chain data perspective, multiple key indicators have not yet entered the historical bear market bottom range. This includes the "Supply in Loss" and 90-day UTXO-related metrics, which have not yet shown a sufficient cyclical bottom structure. Meanwhile, the "LTH Realized Supply" has also not displayed the typical accumulation pattern seen at the end of a bear market, indicating that the market has not yet entered a deep reallocation phase.Additionally, spot selling pressure indicators have not shown obvious "capitulation selling", suggesting that a typical comprehensive market cleansing has not occurred during this decline. Axel Adler Jr believes that before improvements are seen simultaneously in on-chain structure, spot demand, and supply pressure, the current upward move is more likely a technical rebound rather than a trend reversal.On a macro level, he pointed out that the global risk environment remains tight. The conflict between the US and Iran has pushed Brent crude oil close to $100 per barrel, reigniting inflationary pressure. Consumer confidence and financial health indices are weakening, indicating pressure on the demand side. Meanwhile, US Treasury yields remain high, with real interest rates and inflation expectations rising concurrently, further suppressing risk asset valuations.He also mentioned that the leadership of the US Federal Reserve is about to enter a potential transition phase, but the interest rate market is no longer pricing in rapid rate cuts and has even begun to price in the probability of rate hikes. Market expectations have clearly shifted towards "higher for longer". In an environment of high oil prices, high interest rates, and uncertain monetary policy, overall financial conditions remain tight.Axel Adler Jr stated that the current market needs to wait for clearer on-chain bottom structures and signs of demand-side recovery. Until then, he maintains a cautious stance on the market outlook.
Matthew Sigel, Head of Digital Assets Research at VanEck, stated he expects Bitcoin to revisit its all-time high within the next 12 months. This is because the current correlation between BTC and the Nasdaq index is near a five-year high, and the resilience of the US stock market provides support for this rebound. However, the derivatives market has not yet shown significant optimism; futures and options trading largely reflects short covering and hedging demand. From a contrarian perspective, this suggests the Bitcoin rally may still have room to continue.Matthew Sigel also noted that a central bank has already announced plans to include Bitcoin in its foreign exchange reserves this year, indicating that BTC is gradually evolving into a global asset suitable for large-scale cross-border settlements. He believes this will become a long-term trend. In terms of investment direction, he favors a further increase in Bitcoin's market dominance, as well as Bitcoin mining companies poised to benefit from the trend of AI integration. He believes mining companies are increasingly becoming significant beneficiaries of AI infrastructure, and as AI-related businesses grow, the pressure on miners to sell BTC for financing is also decreasing.Furthermore, Matthew Sigel believes that if the CLARITY Act is eventually passed, it could revitalize sentiment in the altcoin market. However, currently, most institutional investors remain cautious towards the majority of altcoins due to regulatory and investor protection concerns.
According to Bitcoin.com, Tether has filed a lawsuit in São Paulo, Brazil, seeking repayment of a $300 million loan from Titan Holding, a company owned by the Master Group. The loan was issued in March 2025 by Tether Investments, Tether’s venture capital arm, and was originally due for repayment on March 28, 2026—but no repayment has been received to date. Daniel Vorcaro, owner of the Master Group, was recently arrested. His Banco Master was liquidated by the Central Bank of Brazil last November after revealing a reserve shortfall of $2.2 billion, affecting over one million customers. In its lawsuit, Tether has requested the freezing of all financial assets belonging to Titan Holding and its affiliated companies.
According to TheEnergyMag, U.S.-based Bitcoin company American Bitcoin Corp. (NASDAQ: ABTC) disclosed in its latest quarterly report that in February of this year, it purchased approximately 11,298 S21 XP ASIC miners (with a combined hash rate of roughly 3.05 EH/s) from Bitmain for $49.4 million. Of this amount, 80% was paid via the pledge of 314 BTC. Based on this, the agreed-upon valuation per pledged BTC was approximately $125,900—roughly a 44% discount compared to BTC’s market price at the time, which was under $70,000. Per the agreement, Bitmain is prohibited from forcibly liquidating the pledged BTC during a ~24-month redemption period. If BTC’s price exceeds the agreed valuation upon maturity, ABTC may repay in cash and reclaim the BTC, thereby locking in appreciation gains; if BTC’s price falls below the agreed valuation, ABTC may elect not to redeem and leave the BTC with Bitmain. This structure effectively grants ABTC a long-dated Bitcoin call option. As of March 31, 2026, ABTC has pledged a cumulative total of 3,090 BTC to Bitmain, with a fair value of approximately $210.8 million, corresponding to mining equipment procurement liabilities of roughly $364.3 million. These miners have already been deployed at the facility of ABTC’s parent company Hut 8 (NASDAQ: HUT) in Drumheller, Alberta, Canada.
Strategy (formerly MicroStrategy), led by Michael Saylor, has been accelerating its Bitcoin acquisitions this year. JPMorgan analysts stated that if the current pace continues, the company's total Bitcoin purchases for the year could reach approximately $30 billion. So far this year, Strategy has added 145,834 Bitcoin to its holdings, valued at around $11 billion. Analysis indicates that a significant portion of the company's purchases occurred when Bitcoin was below its average cost of roughly $75,000, reflecting a more "opportunistic" allocation strategy.At the current rate, Strategy's total Bitcoin purchases in 2026 could significantly exceed the approximately $22 billion levels seen in 2024 and 2025. Analysts noted that the company has re-accelerated its buying since April, suggesting its strategy is becoming more dependent on market conditions and financing availability. Meanwhile, Strategy's stock continues to trade at a premium of approximately 26% to its net asset value (NAV), providing favorable conditions for the company to continue purchasing Bitcoin through equity and debt financing. The company currently holds approximately 818,334 BTC, with a total value exceeding $65 billion. (The Block)
investment bank TD Cowen on Thursday raised its price target for Strategy (MSTR) to $395 from $385, believing the market underestimates the capital efficiency of the company’s bitcoin accumulation strategy following its increased issuance of STRC perpetual preferred stock. Analysts Lance Vitanza and Jonnathan Navarrete indicated that the new target still implies over 110% upside from Strategy’s Wednesday closing price of $186.82.The analysis notes that Strategy is gradually reducing common equity financing and increasingly relying on STRC perpetual preferred stock, which yields 11.5%, to fund bitcoin purchases. STRC is also a core component of Michael Saylor’s “42/42 plan,” which aims to raise $42 billion each through equity and fixed-income instruments over three years.TD Cowen believes the market underestimates the effect of the STRC structure on boosting “BTC Yield,” a metric measuring the company’s growth in bitcoin holdings per fully diluted share. The report raised its BTC Yield forecast for Strategy’s fiscal 2026 to 18.2% from 16.7%, and for 2027 to 9.6% from 5.4%. Additionally, analysts argue that concerns about Strategy being a “perpetual dilution machine” are exaggerated. The company’s annual preferred stock dividend payments, currently around $1.5 billion, represent only about 2.2% of the value of its 818,334 BTC reserve.In TD Cowen’s base case scenario, bitcoin is expected to reach $140,000 by the end of 2026. In a bull case, bitcoin could rise to $175,000, with Strategy potentially purchasing over $5 billion in bitcoin per quarter. (The Block)
According to PRNewswire, Nasdaq-listed Bitcoin mining company Hut 8 released its financial results for the first quarter of 2026, reporting $1.68 billion in revenue from leases for its two hyperscale AI campuses. While advancing its AI data center business, its Bitcoin-related operations remain one of its core revenue sources: total Q1 revenue amounted to $71 million, of which approximately $66 million came from ASIC computing power, AI cloud, and traditional cloud services—primarily driven by Bitcoin mining and related computational services. Additionally, Hut 8 completed a refinancing of its Bitcoin-backed loans, unlocking approximately 3,300 BTC (valued at roughly $260 million) to enhance liquidity and support business expansion. As of the end of March, Hut 8 held cash and Bitcoin with a combined value of approximately $1.3 billion. However, due to digital asset price volatility, the company reported a net loss of $253 million for the quarter—including approximately $296 million in unrealized digital asset losses.
according to Gate Ventures' latest weekly report, the global market performance is generally stable, but inflationary pressures and policy divergences are rising simultaneously. The S&P 500 topped the 7,200 mark for the first time. The Fed kept interest rates unchanged but showed major internal divisions. Compounded by volatile oil prices due to supply shocks in the Strait of Hormuz, market expectations of "stagflation" have intensified. Against this backdrop, the crypto market remains in a consolidation pattern, with BTC largely flat and ETH experiencing a slight pullback. ETF fund flows are diverging, and market sentiment remains cautious.At the industry level, the CLARITY Act has clarified the boundaries for stablecoin yields, further promoting a clearer regulatory framework. EURC is seeing rapid growth in Spanish retail payment scenarios, indicating that localized stablecoin applications are coming to market. The Solana ecosystem is advancing its post-quantum signature scheme, Falcon, reflecting the industry's forward-looking layout for long-term security. In terms of investment and financing, 15 deals were completed this week, with a total volume of $167 million, representing a 205% increase week-over-week. The infrastructure track continues to dominate. Among these, Four Pillars completed a Series A funding round to strengthen institutional-grade research and infrastructure capabilities. Belo secured $14 million in a funding round led by Tether, accelerating the expansion of its stablecoin payment network in Latin America. Overall, capital continues to concentrate towards infrastructure and cross-asset platforms, driving the industry's accelerated evolution towards institutionalization and multi-asset integration.
According to CoinDesk, K Wave Media (KWM), a South Korean media company listed on Nasdaq, disclosed to the U.S. Securities and Exchange Commission (SEC) that it would redirect its $485 million financing facility—originally earmarked for Bitcoin purchases—toward investments in AI infrastructure, including data centers, GPU compute operations, and related acquisitions. The funding stems from a revised agreement with Anson Funds, a structured equity financing firm. The company had originally established a $500 million financing facility in June 2025, exclusively for Bitcoin purchases. Less than one year later, it announced abandoning this strategy in favor of betting on the AI sector and plans to rename itself “Talivar Technologies,” pending approval at its shareholders’ meeting scheduled for early July. Following the announcement, KWM’s stock closed down 24% on Monday and fell another 4% pre-market on Tuesday.