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Bitmine Becomes 2nd Largest Crypto Treasury Company: Now Holding $6.6B In Ethereum

by admin August 20, 2025

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

BitMine, a publicly traded company renowned for its bold treasury strategy, has officially become the second-largest crypto treasury company in the world. The firm now holds more than $6.6 billion worth of Ethereum (ETH), totaling 1.52 million tokens — a staggering 1.26% of the total ETH supply.

This milestone underscores BitMine’s aggressive accumulation strategy, which has set it apart from other institutions and corporate treasuries in the crypto space. What makes this move even more significant is BitMine’s long-term vision: the company has set a target of holding 5% of Ethereum’s total supply, meaning they are already 25% of the way toward their ambitious goal.

The announcement sends a strong signal to markets and institutional investors. Ethereum’s growing role as both a financial and technological backbone of Web3 is attracting corporations to treat ETH not just as an asset, but as a strategic reserve. BitMine’s approach mirrors the conviction once seen in Bitcoin-focused treasury strategies, but it places Ethereum front and center in the evolving digital asset economy.

BitMine Becomes The Leading Ethereum Treasury

BitMine has cemented its position as the largest Ethereum treasury in the world, now holding over $6.6 billion worth of ETH, up from $4.9 billion just last week. This rapid increase highlights the company’s aggressive accumulation strategy and its conviction in Ethereum’s long-term value. The treasury currently accounts for 1.52 million ETH, making BitMine the undisputed leader in Ethereum corporate holdings.

BitMine Latest Crypto Transactions | Source: Arkham Intelligence

Globally, BitMine now ranks as the second crypto treasury company overall, second only to Michael Saylor’s Strategy, which dominates Bitcoin holdings. This milestone underscores the shifting landscape of institutional crypto adoption, where Ethereum is increasingly being recognized as more than just the leading smart contract platform — it is becoming a core reserve asset.

Notably, BitMine now holds more ETH than Sharplink Gaming, The Ether Machine, and The Ethereum Foundation combined. This marks a turning point in the treasury race, where corporations are no longer competing on Bitcoin alone but are diversifying into Ethereum at unprecedented levels.

This growing trend is likely to continue as ETH gains momentum, supported by strong institutional demand, ETF inflows, and broader adoption across decentralized finance and real-world asset tokenization. Analysts believe that if BitMine maintains its current pace, its treasury strategy could reshape how companies manage long-term reserves in the digital economy.

ETH Facing Critical Test

Ethereum is currently trading near $4,310 after a sharp retrace from its recent peak above $4,790. The chart highlights that ETH has entered a consolidation phase after weeks of strong bullish momentum, with price now testing key support levels.

ETH is trading above key demand levels | Source: ETHUSDT chart on TradingView

The 50-day moving average is trending upward and currently sits near $3,560, well below current price levels, signaling that the broader bullish structure remains intact. Meanwhile, the 100-day and 200-day moving averages at $3,048 and $2,575, respectively, also confirm strong long-term support. This alignment suggests that despite the pullback, Ethereum’s broader trend is still positioned for growth.

If ETH manages to hold this level, a rebound back toward resistance at $4,600–$4,800 is likely in the short term. However, a breakdown below support could open the door for a deeper retrace toward $3,800. The coming sessions will be key to determining direction.

Featured image from Dall-E, chart from TradingView

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August 20, 2025 0 comments

Crypto Trends

Google Becomes Largest Shareholder in TeraWulf

by admin August 19, 2025

Tech giant Google has become the largest shareholder of TeraWulf, holding 14% of shares, after receiving more stock in exchange for increasing its backstop in the lease deal between the Bitcoin miner and AI infrastructure provider Fluidstack.

TeraWulf disclosed in a shareholder call on Thursday that it inked a 10-year colocation lease agreement with Fluidstack. Google is supporting the lease obligations through a financial guarantee known as a backstop and receiving warrants to purchase shares in return.

Speaking to Cointelegraph, Kerri Langlais, the chief strategy officer of TeraWulf, said Google’s backstop in the agreement has now increased to $3.2 billion total in return for warrants to purchase over 73 million shares in TeraWulf, representing a 14% stake in the company.

Source: TeraWulf

Langlais added that Google’s new equity makes it TeraWulf’s largest shareholder, providing a “powerful validation from one of the world’s leading technology companies,” and highlighting “the strength of our zero-carbon infrastructure and the scale of the opportunity ahead.”

Google’s backstop safeguards the deal

TerraWulf said in a statement on Monday that Fluidstack exercised an option in the deal to expand at TeraWulf’s Lake Mariner data center campus in New York with a new purpose-built data center, due to start operation in the second half of 2026.

Langlais told Cointelegraph the financial backstop supports Fluidstack’s long-term lease commitments at Lake Mariner, and if the AI company could not meet its financial obligations, Google would step in with the $3.2 billion.

“This is not a guarantee of TeraWulf’s corporate debt, nor do we have access to those funds,” she said.

“The backstop is tied exclusively to contracted AI and high-powered computing lease revenues and is unrelated to our Bitcoin mining operations.”

TeraWulf plans to maintain Bitcoin mining platform

A growing number of Bitcoin (BTC) miners have been diversifying income streams by shifting their energy capacity toward AI and high-power computing (HPC) hosting services after the April 2024 halving cut mining rewards to 3.125 Bitcoin, hurting overall profitability.

Langlais said in the future, TeraWulf plans to maintain, but not expand, its Bitcoin mining platform at Lake Mariner, with a focus on “execution: building, hosting, and delivering for our partners and our shareholders.”

“In the near term, mining generates cash flow and provides a valuable resource to the electrical grid, as its flexible load can be rapidly adjusted to support stability and reliability.”

However, over the medium to long term, the firm sees “greater value in transitioning those megawatts” to AI and HPC workloads, where long-term contracted revenues with blue-chip partners such as Fluidstack and Google “will drive growth and value creation.”

In an August 2024 report, asset manager VanEck estimated that if publicly traded Bitcoin mining companies shifted 20% of their energy capacity to AI and HPC by 2027, they could increase additional yearly profits by $13.9 billion over 13 years.

TeraWulf has projected its agreement with Fluidstack to generate $6.7 billion in revenue, potentially reaching $16 billion through lease extensions.

TeraWulf stock price on the rise

In the Monday trading session, TeraWulf’s stock (WULF) staged a rally to $10.57, representing a 17% increase over the previous close of $8.97.

Related: Bitcoin miner BitFuFu mines 445 BTC for its biggest production month

However, by the end of the session, the miners’ share price had settled at $9.38 and lost a further 1.28% after the bell.

TeraWulf’s stock staged a rally early in the trading session on Monday, but had settled by the close of business. Source: Google Finance

Since TeraWulf first announced its agreement with Fluidstack on Thursday, its stock price has registered a more than 72% gain in the last five days.

Magazine: Coinbase calls for ‘full-scale’ alt season, Ether eyes $6K: Hodler’s Digest, Aug. 10 – 16

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August 19, 2025 0 comments

GameFi Guides

The 7 Largest Publicly Traded Ethereum Treasury Firms

by admin August 17, 2025

In brief

Publicly traded companies are now racing to accumulate Ethereum.
Firms with strategic ETH reserves now account for more than 3% of the entire ETH supply.
The top holders include BitMine Immersion Technologies, SharpLink Gaming, and Coinbase.

The trend of publicly traded companies adopting crypto treasury strategies may have started with Bitcoin, but it has since expanded to a wide variety of digital assets—including the second-largest crypto asset by market cap, Ethereum.

Now the race to accumulate ETH is on, led by key figures like Fundstrat’s Tom Lee and Ethereum co-founder Joe Lubin, who are championing public firms as they rally around Ethereum and its future.

Per StrategicETHReserve.xyz, public entities with Ethereum treasuries maintain more than 3.7 million ETH valued at nearly $17 billion, as of this writing, and more than 3% of the entire supply. These are the biggest holders as of this writing.

1. BitMine Immersion Technologies

Led by crypto bull and Fundstrat CIO Tom Lee, BitMine Immersion Technologies burst onto the scene at the end of July when the firm detailed plans for an Ethereum treasury.

Formerly focused on Bitcoin mining, BitMine (BMNR) first secured a $250 million private investment in public equity (PIPE) fundraising round to begin its ETH purchases.

Since that time, it hasn’t looked back, acquiring 1,150,263 ETH or more than $5 billion worth as of this writing.

The aggressive buying spree has coincided with Lee’s seemingly unfathomable ETH price predictions, which include calls for $60,000 ETH. That’s a sizable multiple of the current price.

After planning a raise of $4.5 billion to accumulate the asset, Lee and company upsized their offering by $20 billion in August as BitMine aims to expand its already industry-leading Ethereum treasury.

2. SharpLink Gaming

Gambling marketer turned Ethereum treasury company SharpLink Gaming holds the second-largest publicly traded ETH treasury.

The firm maintains 728,804 ETH, or $3.2 billion as of its latest release—around 73% of the way to its first stated goal of accumulating 1 million ETH.

While SharpLink’s existing business did not have immediate ties to crypto, it brought on direct ties to Ethereum when it shaped its board of directors. The firm’s chairman Joe Lubin is the co-founder of Ethereum itself, and founder and CEO of Ethereum software company, Consensys, the maker of popular crypto wallet, MetaMask.

(Disclaimer: Consensys is one of 22 investors in an editorially independent Decrypt)

Lubin and company have followed BitMine in a relentless pursuit of Ethereum, raising funds in a variety of ways including a recent $400 million direct offering, plus plans to collect up to $6 billion via stock sales.

In July, the firm added BlackRock’s former head of digital asset strategy Joseph Chalom as its newly appointed CEO.

3. The Ether Machine

There’s no questioning the business of The Ether Machine, a firm made public via a merger of The Ether Reserve, LLC and a blank-check company earlier this year.

The third-largest treasury on the list, The Ether Machine currently holds 345,362 ETH, or $1.5 billion at today’s ETH prices.

Funded with startup capital and approximately 170,000 ETH from co-founder and chairman Andrew Keys, the Ether Machine stated a mandate to put its ETH to work on-chain or create a “machine” to grow its stash, differentiating it from more passive accumulation vehicles.

It most recently acquired around $40 million worth of ETH using cash from a previously established private placement. At the time of inception, it expected to pull in around $1.6 billion in total proceeds to use to fund Ethereum purchases.

4. Coinbase

Leading American crypto exchange Coinbase maintains an investment of around $602 million or 136,782 ETH, according to its most recent 10-Q filing. That is more than 20,000 ETH greater than it ended 2024 with when it held 115,700 ETH based on an end of year 10-K filing.

The firm also holds more than 11,000 Bitcoin as an investment, placing it among the top publicly traded holders of the largest crypto asset, as well.

First hitting the public markets in 2021, shares in Coinbase made a new all-time high in July 2025 as crypto firms continued a streak of success alongside traditional equities.

5. Bit Digital

Bitcoin miner Bit Digital formed an Ethereum treasury strategy during Q2 2025. In just a few short months, it’s quickly added to its stash, jumping from 30,663 ETH at the end of June to 121,076 ETH as of August 11—now valued at more than $530 million.

As part of its transition, the firm is ending its Bitcoin mining operations and redeploying funds towards ETH accumulation. Public markets didn’t react strongly to the strategy shift, as shares of BTBT have gained just 2.63% year-to-date.

6. ETHZilla

Biotech firm 180 Life Sciences rebranded its company to “ETHZilla,” as it shifted focus to a digital assets treasury centered on Ethereum.

The firm raised $425 million in late July to kickstart its treasury and quickly jumped up the holder rankings, acquiring 82,186 ETH as of August 12, valued around $362 million at today’s ETH prices.

A few weeks later, shares in ETHZilla (ATNF) quickly tripled after it was revealed that billionaire tech investor Peter Thiel and related entities had purchased a 7.5% stake in the company.

As for its unique name? Chairman of the board McAndrew Rudisil told Decrypt in July that it “comes from our focus to be one of the largest holders of ETH in the world.”

7. BTCS Inc.

Blockchain Technology Consensus Solutions (BTCS) holds 70,140 ETH, worth around $309 million as of mid-August.

The firm boasts a proactive strategy to acquire more Ethereum, putting its ETH to work on-chain using what is described as a “powerful DeFi/TradFi financial model” to generate value for shareholders.

In addition to acquiring ETH, the firm also bolstered its treasury with three Ethereum-based Pudgy Penguins NFTs in August.

BTCS posted record revenues in Q2 of $2.77 million, marking a 394% increase year-over-year. Shares are up nearly 90% year-to-date.

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August 17, 2025 0 comments

GameFi Guides

These 4 cryptos could soar as Eric Trump says stop betting against world’s largest cryptos

by admin August 17, 2025

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

Eric Trump urges bullish bets on crypto; altcoins like LILPEPE, TRON, KAS, and ALGO gain investor attention.

Summary

Eric Trump’s bullish opinion on Bitcoin and Ethereum sparks interest in altcoins for 2025.
LILPEPE, TRON, KAS, and ALGO are poised for growth ahead of the 2025 crypto bull run.
Affordable altcoins backed by strong tech are attracting attract investors ahead of the next bull cycle.

A possible bull run in 2025 has already got the cryptocurrency market buzzing. Recently, Eric Trump made statements urging investors to “stop betting against Bitcoin and Ethereum”, further exciting the market around digital assets.

While both Bitcoin and Ethereum remain the titans they are, strategic investors are shifting their focus to undervalued altcoins with solid fundamentals and the potential to ignite explosive growth. From Eric Trump’s interview, it’s safe to say he is very bullish about the crypto market, and if current trends are anything to go by, Little (LILPEPE), TRON, KAS, and ALGO are poised to skyrocket by 2025. In short, these cryptocurrencies are affordable and backed by state-of-the-art technology.

Little Pepe: The memecoin with layer 2 ambition

Little Pepe is reshaping the memecoin world by combining technology with viral appeal. Now in Stage 10 of its presale, priced at $0.0019, Little has completed more than $18.3 million in fundraising and has sold 12.2 billion tokens.

This has also led to the rare presale listing on CoinMarketCap, which enhances its global exposure. While common memecoins such as PEPE and SHIB focus solely on their developed community and meme culture, Little Pepe is taking a different direction as it is developing a Layer 2 meme and community tokens blockchain, which will have minimal charges, instantaneous transaction completion, and will be EVM compatible.

Little Pepe Launchpad, designed by the project, is designed to assist new meme projects by providing protective anti-bot mechanisms for fair launches. Little Pepe is set for tremendous growth given their 100,000-strong community and CEX listing planned for after the presale. Although memecoins are highly risky and speculative, Little’s low entry price and infrastructure focus make it an opportunity for high reward for investors speculating at 50x-100x return during the 2025 bull run.

TRON: The DeFi giant with steady momentum

TRX currently trades at $0.315 and has a market cap of $32.2 billion. Gaming and NFTs have spawned a vibrant dApps and financial services ecosystem. It is becoming the go-to network for stablecoin transactions. Recently, $1 billion of USDT was minted on its blockchain.

The price structure of TRON currently sits in an ascending channel, which shows bullish signs. With whale dominance currently peaking, analysts speculate that if TRX breaks past $0.45, it may retrace to its 2024 highs of $0.50. This move provides an estimated profit of 10 to 20 percent.

Kaspa: The scalable blockchain innovator

With a market cap of $2.89 billion, KAS is priced at $0.075. It is designed for high transaction speed, which makes it a competitor to traditional blockchains. The recent Crescendo v1.0.0 hard fork increased block speed to 10 blocks per second, and the DAGKNIGHT consensus improves security and finality.

The new EVM-compatible testnets and the KRC20 token standard proposed by Kaspa enable new avenues in DeFi and smart contracts. With increasing developer interest and the Caravel testnet coming soon, analysts expect KAtold to reach $1 by the end of the year, representing a 13x increase from its current price.

Algorand: The green with real-world utility

ALGO fuels DeFi and NFT ecosystems and bridges traditional and decentralized finance. With a market cap of $2.2 billion and priced at $0.24, ALGO powers DeFi and NFT ecosystems. Its plans for 2025, like enabling native token transfers through Wormhole, collaboration with Paycode for digital identities in emerging markets, and other initiatives, reveal ALGO’s ecosystem.

Algorand attracts institutions and developers because of low costs, native staking rewards, and a carbon-negative promise. Its recent joining of the Blockchain Association to advocate for crypto-friendly regulations further boosts credibility. ALGO has excellent upside potential, especially with the growing adoption of DeFi and payments.

Conclusion

Eric Trump’s bullish sentiment towards Bitcoin and Ethereum hints at a booming market. As for other investment options, Algorand, Kaspa, Little Pepe, and TRON also offer diverse opportunities. TRON’s dominance in DeFi provides a safe investment, while Little Pepe’s dog meme-driven Layer 2 project could yield significant gains in weeks.

Completing the list is Kaspa with its scalable infrastructure, Algorand with its real-world applications — both holding strong for long-term gains — coins priced under a dollar offer affordable entry positions ahead of the predicted bull run in 2025. As always, conduct due diligence and speak to a financial advisor; with any investment, cryptocurrencies come with risks.

To learn more about Little Pepe, visit the website, Telegram, and X.

Disclosure: This content is provided by a third party. Neither crypto.news nor the author of this article endorses any product mentioned on this page. Users should conduct their own research before taking any action related to the company.

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August 17, 2025 0 comments

GameFi Guides

Tether To Become Largest Bitcoin Miner By End of 2025, CEO Explains

by admin June 25, 2025

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

In an interview with crypto news outlet The Block, Paolo Ardoino, CEO of Tether, spoke about the company’s plans to become the largest Bitcoin miner in 2025. Tether has been one of the most profitable companies in the industry over the past years, and a lot of these resources have been used to improve its mining capabilities.

Bitcoin’s price trends to the upside on the daily chart. Source: BTCUSD on Tradingview

Tether To Dominate the Bitcoin Mining Industry?

According to Ardoino, the USDT stablecoin issuer has been trying to diversify into several key sectors. These include artificial intelligence, data centers, telecommunications, and Bitcoin mining.

The investment in the latter industry is part of a broad strategy to not only diversify into a key sector and generate further profits. Tether wants to become a main figure in the protection of the Bitcoin network.

Per The Block, the company has invested as much as $10 billion in the digital asset. Thus, by becoming a top miner, Tether makes sure its investment stays safe and that the BTC blockchain will not fall in the hands of a group of bad actors. Ardoino told The Block:

I think that is clear that if you have $1 million and you have to decide where to put it either in bitcoin mining or in buying bitcoin directly, you would always make more money buying bitcoin directly. But in our case, I think given the exposure that we have to bitcoin, it’s important to be part of the security of the network. Realistically, by the end of this year, Tether will become the biggest bitcoin miner out there.

Tether Faces Challenges

The company faces several obstacles in achieving this goal. The Bitcoin mining business has become one of the most competitive in the nascent industry with actors such as Marathon Digital Holdings, Riot Platforms, CleanSpark, and others controlling around 30% of the BTC hashrate.

Total Bitcoin Hasrate sits at around 810 EH/s as of June 2025. Source: IntoTheBlock

Moreover, as the report claims, Tether is yet to disclose how much of the BTC hashrate they operate. Thus, making it difficult to determine where the stablecoin issuer stands against its competitors.

However, it has been determined that Tether has poured billions of dollars into improving its mining infrastructure. The company’s strong ties with Latin American governments, such as El Salvador, Uruguay, and Paraguay in over 15 facilities.

Cover image from Unsplash, BTCUSD chart from Tradingview

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June 25, 2025 0 comments

Crypto Trends

$121,000,000 Bitcoin Stuns World’s Largest Exchange, Binance

by admin June 25, 2025

1,140 Bitcoins deposited to Binance
Michael Saylor praises this BTC purchase

Prominent blockchain tracker Whale Alert, which monitors large cryptocurrency transfers and then shares the details with the community on its website or the X handle, has spotted to hefty transactions targeting the world’s largest exchange, Binance.

This aligned with the Bitcoin price gaining more than 2% and surpassing the $106,000 for the second time this week.

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1,140 Bitcoins deposited to Binance

The aforementioned on-chain data source revealed two large Bitcoin transactions, carrying 500 and 640 BTC to Binance. The transfers were conducted from one wallet, whose owner chose to stay anonymous, within a gap of roughly one hour. In total, the whale deposited 1,140 BTC to Binance, which was the equivalent of approximately $121 million in fiat.

While the Bitcoin price surged by 2.6% from $103,810, reaching the $106,500 zone, this may indicate an increased whale activity to lock in profits as BTC demonstrated a significant rise within less than one day.

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Michael Saylor praises this BTC purchase

Recently, prominent angel investor and Bitcoin supporter Anthony Pompliano announced the launch of a new Bitcoin-powered company ProCap BTC.

On Tuesday, he spread the word that right after a $1 billion merger of his new venture and after raising $750 million to acquire BTC, the company bought 3,724 Bitcoins worth $396,482,735 at the time of this writing. This is roughly half of the amount raised by ProCap BTC.

Michael Saylor left an approving commentary under Pompliano’s post, saying: “₿3,724 is a strong start for ProCap BTC.” To that, Pomp replied, asking Saylor not to accumulate all the remaining Bitcoin in the market, leaving some for others to scoop up: “Save some bitcoin for the rest of us.”

Save some bitcoin for the rest of us

— Anthony Pompliano 🌪 (@APompliano) June 24, 2025

On Monday this week, Michael Saylor’s Bitcoin treasury company, Strategy, announced at acquisition of yet another BTC chunk – 245 coins for the price of around $26 million. This weekly purchase came after a massive $1 billion Bitcoin acquisition announced last Monday. Now, Strategy boasts a crypto bag of 592,345 BTC worth $63,063,062.

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June 25, 2025 0 comments

NFT Gaming

Coinbase Assists Secret Service in One of the Largest Crypto Scam Crackdowns Ever

by admin June 24, 2025

US-based cryptocurrency exchange Coinbase has revealed that it assisted the U.S. Secret Service (USSS) in recovering roughly $225 million worth of Tether (USDT) stolen via the so-called “pig butchering” crypto scams.

Scammers typically lure potential victims by pretending that they are willing to start a romantic or business relationship. After some time, they eventually convince their potential victims to invest in fraudulent crypto projects. Expectedly, bad actors end up cutting contact as soon as enough money gets squeezed out of the victim.

In late 2023, the stablecoin giant froze a total of 39 wallets connected to such scams.

Coinbase joined forces with the USSS to track down stolen crypto on-chain and identify the exchange’s customers who were affected by such fraudulent schemes. They managed to find a total of 130 users who lost more than $2 million.

Overall, the USSS confiscated a total of $225 million, and Tether burned the tokens on-chain. The same amount of stablecoins was then reissued in order to be distributed to potential victims.

The Federal Bureau of Investigation (FBI) has now initiated a restitution process. Victims have to prove that they got scammed by sharing their transaction history on Coinbase or another exchange.

Pig butchering scams are treated as a top crypto crime priority by the FBI, the USSS, and other agencies.

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June 24, 2025 0 comments

GameFi Guides

U.S Feds File to Seize $225M in Largest Crypto Bust

by admin June 18, 2025

Federal agents in the U.S. have filed to seize over $225 million in cryptocurrency. This is the largest crypto amount to be seized in the history of the U.S. Secret Service. The civil forfeiture complaint was filed in the U.S. District Court for the District of Columbia

The case targets crypto tied to scams that tricked victims into fake investment schemes, according to a statement from the U.S. Attorney’s Office. This was after a joint investigation by the U.S. Secret Service, FBI, and the U.S. Attorney’s Office.

The report said they used blockchain analysis to track down the stolen funds. The fund was hidden across hundreds of thousands of transactions, which were done on purpose to confuse the authorities and also make it untraceable. However, the agents were able to follow the trails and freeze the wallets linked to the fraud. These wallets were part of a global scam network that helped criminals wash and move stolen money.

Officials say the funds were tied to “Cryptocurrency confidence Scams,” where victims were persuaded to invest in some deal that had to do with cryptocurrency. Millions of people in the U.S lost their money, and over 400 others around the world.

“These scams prey on trust, often resulting in extreme financial hardship for the victims.” Secret Service Special Agent Shawn Bradstreet said. Meanwhile, U.S. Attorney Jeanine Pirro said her team is leading the charge to stop crypto scams.

In a short post on X, she wrote, “Under my leadership, with the support of President Trump and Attorney General Bondi, the U.S. Attorney’s office for the District of Columbia is taking a leading role in the fight against crypto-confidence scams, partnering with law enforcement throughout the country to seize and forfeit stolen funds and rip them from the hands of foreign criminals, all with the eye toward making victims whole.”

The Justice Department stated the goal now is to go after the networks behind these scams and return the stolen assets to the victims.

Also Read: US Senators Ramp Up Discussions on New Crypto Market Bill

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June 18, 2025 0 comments

GameFi Guides

$230,000,000 Bitcoin Stuns Largest US Crypto Exchange, Coinbase

by admin June 17, 2025

$230 million in Bitcoin shoveled to top US platform
Bitcoin mid-term profit takers cashing out

Popular blockchain sleuth Whale Alert, which tracks large cryptocurrency transactions, has spotted three massive Bitcoin transfers that took place within a single hour, following each other closely.

They targeted Coinbase Institutional, carrying hundreds of millions of dollars worth of Bitcoin.

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$230 million in Bitcoin shoveled to top US platform

The above-mentioned on-chain data aggregator spread the word about three consecutive Bitcoin transfers entering Coinbase Institutional – the branch of the US largest crypto exchange, Coinbase, dealing with institutional clients.

These deposits carried 870, 814, and 472 BTC and were equal to $230,000,000 in total at the time when those transfers were initiated. These large lumps of Bitcoin were sent from anonymous wallets to the aforesaid crypto trading venue.

Today, the Bitcoin price displayed a sharp drop, falling by 2.6% from the $108,800 zone to a local bottom near $106,000. A similar drop took place on Thursday last week. Both bearish movements were largely triggered by the recent escalation in the military developments in the Middle East. Besides, the treat of a trade war between the US and Canada still looms with negative predictions for both economies.

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Bitcoin mid-term profit takers cashing out

According to a Glassnode report published on the X platform today, there has been a significant change in the tier of wallets that have been taking profits by selling part of their Bitcoin portfolios recently.

Last week, according to the on-chain data aggregator, Glassnode, the main profit-takers who sold Bitcoin were wallets holding Bitcoin for more than 12 months. Those cohorts were responsible for 83% of all realized profit in the market. Meanwhile, wallets that hold Bitcoin for 6-12 months just realised $904 million of their profits, overtaking the old cohorts. That was the second-highest daily profit year-to-date.

Last week, we highlighted how $BTC wallets that held >12m were the primary profit-takers. But that trend has now flipped. Yesterday:

🔹 <12m cohorts accounted for 83% of all realized profit
🔹 6–12m holders alone realized $904M – second-highest daily profit YTD pic.twitter.com/gBD8tLCjVG

— glassnode (@glassnode) June 17, 2025

This was how the things stood last week. On Monday, this trend flipped. Therefore, mid-cycle Bitcoin buyers are cashing out at the moment, while long-term holders continue to hold or might be even accumulating more BTC. According to another post in this Glassnode thread, it is mainly those whales selling now who bought Bitcoin in the 4th quarter of 2024.

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June 17, 2025 0 comments

NFT Gaming

SharpLink Gaming Buys $463 Million in Ethereum, Becomes Largest ETH Treasury Firm

by admin June 13, 2025

In brief

SharpLink Gaming unveiled a $462 million Ethereum acquisition, saying that 95% of the funds had already been deployed in decentralized finance, or DeFi, protocols.
The company’s stock dropped over 70% on Thursday during after-hours trading as the public tried to assess the significance of an S-3 shelf prospectus.
The Ethereum Foundation held $540 million worth of Ethereum on Friday, Akrham Intelligence data showed.

SharpLink Gaming recently acquired $462 million worth of Ethereum, becoming the asset’s largest holder among public firms, according to a company blog post published on Friday.

The Nasdaq-listed online gambling marketer, which adopted an Ethereum treasury strategy in May, said that it had purchased roughly 176,000 ETH for an average price of $2,600 per coin. The price of Ethereum was recently changing hands around $2,500, an 8.8% decrease over the past 24 hours, according to crypto data provider CoinGecko.

The company’s announcement follows a Securities and Exchange Commission filing that sparked confusion on Crypto Twitter. As the public tried to parse the significance of an S-3 shelf prospectus, shares tumbled more than 70% in after-hours trading on Thursday.

Although observers speculated that the filing indicated SharpLink investors had sold shares, Ethereum co-founder, Consensys CEO, and SharpLink board chair Joe Lubin said the filing was “standard.” (Disclosure: Consensys is one of 22 investors in an editorially independent Decrypt.)

SharpLink shares opened at $10.26 on Friday, a 67% dip compared to the stock’s closing price of $32.53 a day before, according to Yahoo Finance. Shares soared as high as $124.12 in late May after the company announced a $450 million private placement. They were recently changing hands around $11.21.

“There’s a period of time between [the] announcement to when everything is ready to go, where the float is tiny and everyone buys it, and it basically turns into a meme stonk,” Taproot Wizards co-founder Udi Wertheimer, said on X, formerly Twitter. “That’s resolved once all the filings [are] done. […] It doesn’t mean anyone ‘rugged.’”

SharpLink said that, as of Friday, over 95% of the company’s Ethereum holdings had been deployed in “staking and liquid staking solutions, contributing to Ethereum’s network security while generating yield.”

Among liquid staking protocols, Lido is the most popular, containing $23 billion in assets, according to crypto data provider DefiLlama. The protocol allows investors to lock up Ethereum to earn staking rewards, while also having access to a token pegged to the price of Ethereum.

Bitcoin treasury firms, which have soared in popularity this year, are not able to earn yield on their holdings by leveraging Bitcoin’s network. The difference, in terms of staking, can be attributed to the networks’ different consensus models.

In addition to SharpLink’s initial PIPE transaction, the Minneapolis-based firm said that it had raised $79 million through at-the-market (ATM) offering of common shares. Under its ATM equity program, the company is able to issue $1 billion in equity to buy more Ethereum.

A PIPE, or Private Investment in Public Equity, allows a firm to quickly raise capital by selling shares privately to institutional or accredited investors, as opposed to a public offering.

SharpLink said in its blog post that, on a broader scale, that its Ethereum holdings were second only to the Ethereum Foundation. As of Friday, the Ethereum Foundation held $540 million worth of Ethereum, Arkham Intelligence data showed.

Edited by James Rubin

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June 13, 2025 0 comments