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US government moves $470 million in seized crypto to Coinbase wallets, raising Bitcoin sale questions

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US government moves $470 million in seized crypto to Coinbase wallets, raising Bitcoin sale questions
The US government moved about $470 million in seized crypto to likely Coinbase Prime addresses, according to Arkham, reviving questions over potential asset sales. On Oct. 7, blockchain analytics firm Arkham Intelligence said the transfers included Bitcoin, wrapped Bitcoin and USDT. Arkham linked the transferred assets to seizures involving the 2016 Bitfinex hack and Alameda … Read more

MiCA rejection forces German crypto platform into operational overhaul

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MiCA rejection forces German crypto platform into operational overhaul
Bitcoin.de is rebuilding its operating model after German regulators rejected its MiCA authorization, forcing it to outsource trading and custody to outside partners. BaFin refused the application filed by Futurum Bank AG, the Bitcoin.de operator, to become an authorized crypto-asset service provider under the European Union’s Markets in Crypto-Assets (MiCA) regime. The decision also ended … Read more

Ondo unlocks BlackRock portfolio strategies, but only non-US traders benefit

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Ondo unlocks BlackRock portfolio strategies, but only non-US traders benefit
Ondo Finance launched three on-chain portfolio tokens on Sept. 24 using investment strategies BlackRock developed for the company. The tokens give buyers economic exposure to diversified baskets, but they are securities issued by Ondo, not interests in BlackRock funds. Only eligible non-US investors who complete onboarding can redeem the tokens directly with Ondo, according to … Read more

Evernorth’s Nasdaq XRP treasury is approved, but its real buying power isn’t the $300 million expected

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Evernorth’s Nasdaq XRP treasury is approved, but its real buying power isn’t the $300 million expected
Evernorth’s shareholder vote has advanced its plan to become a publicly traded XRP treasury. Its next round of token buying hinges on cash left at closing: disclosed delayed subscriptions, conditional notes and expected trust proceeds imply roughly $88.5 million in gross sources if all three settle, before expenses and other uses. Evernorth and Armada Acquisition … Read more

BitMine nears 5% Ethereum threshold, yet stock valuation rules dictate its next move

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BitMine nears 5% Ethereum threshold, yet stock valuation rules dictate its next move
Ethereum treasury company BitMine Immersion Technologies said on Sept. 28 that it held 6,001,302 ETH, leaving it 103,698 tokens short of its goal of owning 5% of Ethereum’s supply, based on the company’s latest supply estimate. Buying that remainder at BitMine’s Sept. 27 reference price would cost about $279.8 million. The company reported $672 million … Read more

ARK partners with Securitize to put a venture fund on Ethereum, but leaves exit doors locked

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ARK partners with Securitize to put a venture fund on Ethereum, but leaves exit doors locked
ARK Invest and Securitize announced on Sept. 24 that eligible investors would be able to hold tokenized interests in the ARK Venture Fund on Ethereum. This new ownership route puts an established interval fund on blockchain infrastructure, so investors still face the fund’s limited exit options when trying to sell their shares. ARKVX invests across … Read more

Bitcoin treasury Strive risks cash reserve to fund $500M buyback and trim dividends

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Bitcoin treasury Strive risks cash reserve to fund $500M buyback and trim dividends
Bitcoin treasury company Strive disclosed an optional program to repurchase up to $500 million of its variable-rate perpetual preferred stock, traded as SATA, on Oct. 5. The program exceeds its reported $284.7 million cash balance and lets management weigh further Bitcoin purchases against retiring dividend-paying preferred shares. The SEC filing gives management discretion to repurchase … Read more

S&P brings ratings-style scrutiny to $10 billion crypto vault market as $6 million Base incident exposes risks

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S&P brings ratings-style scrutiny to $10 billion crypto vault market as $6 million Base incident exposes risks
S&P Global is bringing ratings-style risk assessments to crypto lending vaults as the fast-growing market confronts fresh security failures. The ratings firm launched its Vault Risk Assessment framework on Oct. 4, creating a standardized approach for comparing the likelihood that investors suffer impairment in lending vaults. Deposits in the products reached about $10 billion in … Read more

Why Abstract is killing its Ethereum L2 instead of launching a token to save it

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Why Abstract is killing its Ethereum L2 instead of launching a token to save it
Abstract will shut down on Dec. 15 despite onboarding more than 400,000 users, hosting 144 apps, and landing brands including Disney and Red Bull Racing. The consumer-focused Ethereum layer-2 (L2) cited stagnant growth, thin liquidity, restricted DeFi activity, and limited institutional crossover. Igloo CEO Luca Netz said the company had lost “tens of millions of … Read more