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BlockStreet is the first DeFi protocol built for tokenized stock utility, delivering decentralized lending, leverage, and yield opportunities .
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Trump-linked crypto company AI Financial to acquire Block Street for up to $43 million
Odaily AI Financial (formerly Alt5 Sigma), a publicly listed crypto company linked to the family of U.S. President Donald Trump, has announced it will acquire crypto infrastructure startup Block Street for up to $43 million. Block Street was founded by Matthew Morgan, who currently serves as an advisor to AI Financial and is also its CEO and largest shareholder.According to a filing with the U.S. Securities and Exchange Commission (SEC), the deal was reached last Monday. Block Street was registered in October 2025, but Morgan stated that its business operations had started about 16 months prior.The acquisition has raised market concerns about potential conflicts of interest, as Morgan is both an advisor to AI Financial and the founder of the acquired company. He was briefly nominated for the position of Chief Investment Officer in a previous cooperation deal between AI Financial and World Liberty Financial, but the role was later adjusted to an unpaid advisor position.In August, AI Financial reached an agreement with World Liberty Financial to include approximately $1.5 billion in crypto assets on its balance sheet, in exchange for equity and a board seat. This collaboration also positioned the company as part of the "Trump family crypto ecosystem."In interviews, Morgan has denied that the transaction constitutes self-dealing, stating that Block Street focuses on tokenization and ICO infrastructure capabilities, areas AI Financial is looking to enter. He claimed to have pitched the asset to several other public companies and turned down acquisition offers with higher valuations.However, since establishing ties with the Trump family crypto project, AI Financial's stock price has fallen by over 90%, reflecting ongoing market skepticism toward the "crypto reserve public company" model.This transaction has also reignited controversy over insider transactions and governance structures within public companies. Similar cases have frequently emerged in the crypto industry recently, with multiple listed companies criticized for mixing assets with related-party transactions, raising investor concerns about the risks of conflicts of interest. (Fortune)
The cryptocurrency market continues to pull back, with BTC falling to $76,000, while only the AI and GameFi sectors remain relatively resilient
According to SoSoValue data, the cryptocurrency market continues to correct, with Bitcoin (BTC) dropping 0.66% to above $77,000, and Ethereum (ETH) declining 0.24% to below $2,300. The AI sector performed notably, rising 0.96% in 24 hours, with Bittensor (TAO) up 4.20%, Unibase (UB) up 18.84%, and SkyAI (SKYAI) up 35.11%. Additionally, the GameFi sector gained 0.40%, with Axie Infinity (AXS) and GALA rising 2.64% and 2.45% respectively.In other sectors, the Layer 2 sector fell 0.06% in 24 hours, but Celestia (TIA) rose 4.05%; the CeFi sector declined 0.44%, with Aster (ASTER) gaining 2.55%; the Layer 1 sector dropped 0.88%, while Humanity (H) surged 26.66% intraday; the Meme sector fell 1.17%, with Pump.fun (PUMP) bucking the trend to rise 6.66%; the PayFi sector decreased 1.21%, with Safe (SAFE) remaining relatively firm, up 1.75%; and the DeFi sector fell 1.48%, with Block Street (BSB) rising sharply by 18.11%.Crypto sector indices reflecting historical sector performance show the ssiGameFi index rising 0.52%, while the ssiMeme and ssiNFT indices fell 2.38% and 2.34% respectively.
Suspected Block Street team address transfers 5 million BSB to Bybit, valued at approximately $3.65 million
According to Arkham data, a suspected Block Street team address has transferred tokens to a Bybit deposit address (0xEcB8...0D51) over the past two hours, with a cumulative transfer of 5 million BSB tokens, valued at approximately $3,653,400. The tokens in this sending address previously originated from the BSB team's multi-signature address.Currently, the circulating supply of BSB is 207.75 million tokens, and the total amount received by this address accounts for approximately 2.41% of the circulating supply. BSB is currently trading at $0.7595, down 9.11% in the past 24 hours, with a circulating market cap of approximately $157.8 million.