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Solana treasury company shutters its SOL accelerator as a $27 million quarterly reversal forces deep cuts

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DeFi Development Corp., which holds Solana’s SOL token as a treasury asset, reported a $27 million second-quarter loss. It is also retrenching, closing its Treasury Accelerator to new deals, lowering costs, and repurchasing convertible debt below face value. The company said in an Aug. 12 shareholder letter that its net loss on digital assets was … Read more

Goldman Sachs drops $2.25 billion to hijack the Bitcoin yield market and leapfrog BlackRock by 19x

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Goldman Sachs agreed to acquire NEOS Investments for up to $2.25 billion, adding a $30 billion options-income ETF platform that includes one of the largest Bitcoin income funds. The cash-and-equity deal announced Aug. 12 covers NEOS’ 19 options-based income ETFs and is expected to close in the first quarter of 2027, subject to regulatory approval … Read more

Strategy sold $100M to defend STRC’s $100 stock price as DeFi packages the risk into a 7% ‘safer’ trade

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Solstice announced a tranched product built on Strategy’s Bitcoin-related STRC preferred stock, and said its senior tranche would not begin absorbing losses until STRC trades below $47.66. STRC currently trades near $95.315, putting that threshold roughly half of today’s market price and about 52% below the security’s $100 par value. Solstice COO David Plisek described … Read more

Russia picks Bitcoin, Ethereum and USDT for public trading as retail faces $58,000 cap

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The Bank of Russia has proposed opening public organized crypto trading with only Bitcoin, Ethereum, and Tether’s USDT eligible for admission. Under the draft directive, a Russian resident who is not a qualified investor could spend up to ₽300,000, nearly $58,000, on cryptocurrency through a single broker in a calendar year. The cap measures cumulative … Read more

As retail crypto trades collapse 73%, eToro drops $231 million to capture active US stock traders

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eToro’s users executed 1.4 million crypto trades in July, down 73% from a year earlier. The average amount invested per trade halved to $182. In the same Aug. 11 update, the trading platform agreed to pay consideration of up to $231 million for TradeZero. TradeZero is a US-focused brokerage serving active stock traders. The combination … Read more

XRP loses $1 for the first time since Trump’s 2024 election as bearish bets surge and 200,000 XRP stolen

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XRP slipped below $1 as leverage rebuilt and selling pressure deepened across the market. Data from CryptoSlate showed that the digital asset fell as low as $0.99 during the session, its weakest level since November 2024, when Donald Trump won the US presidential election. The move unwinds one of the most important thresholds from XRP’s post-election … Read more

Twenty One’s $2.8 billion Bitcoin pile is worth far more than its stock, but there’s a catch

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Twenty One Capital says investors value its shares below its Bitcoin holdings even as 37% of the treasury remains pledged against debt. On Aug. 11, the company’s CEO Raphael Zagury told shareholders that XXI was trading at a “material discount” to the Bitcoin it holds, describing the gap as a potential misallocation of capital. The … Read more

A $36 billion lawsuit just turned Kalshi’s $40 billion valuation race into a federal market emergency

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The Commodity Futures Trading Commission (CFTC) has ordered Kalshi to keep operating after the prediction-market exchange declared a market emergency tied to New York’s enforcement campaign. The move marks the strongest federal intervention yet in the widening fight over whether states can apply gambling laws to event contracts offered on CFTC-regulated exchanges. It also comes … Read more