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Tether Seeks To Raise $200 Million For Tokenized Gold Treasury – Report

by admin October 5, 2025


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

According to a recent report, the world’s largest stablecoin company, Tether, and a partner firm are looking to raise capital for a digital asset treasury company that would accumulate its tokenized gold.

Tether To Launch Digital Asset Treasury Firm With XAUT: Report

On Friday, October 3rd, Bloomberg reported that Tether and financial services firm Antalpha Platform Holding are leading an effort to raise at least $200 million to set up a digital asset treasury company. Citing unnamed sources close to the matter, this public vehicle would use the capital to purchase XAUT, Tether’s gold token.

Bloomberg revealed that Antalpha Platform Holding has close ties to Bitmain Technologies, the world’s largest Bitcoin hardware supplier based in China. According to a report from the University of Cambridge Judge Business School, the Bitcoin hardware manufacturer supplies about 82% of the world’s crypto mining machines.

Bloomberg posited that this capital-raising effort would further strengthen the relationship between two of the largest companies in the global crypto industry. Meanwhile, this venture would represent a continuation in digital asset treasury companies’ craze happening this year, with more than 80 firms set up so far in 2025.

Furthermore, the report revealed that asset manager Cohen & Company is the lead advisor on the deal, with further talks kept private. While most parties declined to comment, Tether reportedly pointed out a post on the social media platform X about its recent announcement with Antalpha.

Source: @paoloardoino on X

As per the post on X, Antalpha revealed that it would be integrating Tether Gold into its Real-World Assets (RWA) Hub, offering tokenized gold-backed lending and infrastructure solutions. The financial services firm also announced that it would set up physical vaults in major financial centers around the world to allow holders to exchange the tokens for gold bars.

This move to offer XAUT-backed lending came after Tether had purchased an 8.1% stake in Antalpha during its initial public offering (IPO) earlier in May 2025. 

Tether Gold, launched in 2020, offers investors an exposure to gold without physically owning the metal. With a market capitalization of about $1.5 billion, Tether claims that the almost 250,000 XAUT tokens in circulation are backed by an equivalent of more than 7.66 tons of gold.

USDT Market Cap At $175 Billion

At the same time, Tether owns the largest dollar-backed stablecoin and the fourth-largest digital asset in the cryptocurrency market, with a market cap of more than $175 billion.

The USDT market cap at $176 billion on the daily timeframe | Source: USDT chart on TradingView

Featured image from Pexels, chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



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October 5, 2025 0 comments
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Crypto Trends

Crypto Miner TeraWulf to Raise $3B in Google-Backed Debt Deal to Expand Data Centers

by admin September 28, 2025



Crypto mining firm TeraWulf (WULF) is planning to raise $3 billion in debt to expand its data center operations in a deal supported by Google, as the AI infrastructure arms race intensifies.

The company, Bloomberg reports citing TeraWulf CEO Patrick Fleury, is working with Morgan Stanley to arrange the funding, which could launch as early as next month through high-yield bonds or leveraged loans.

Credit rating agencies are evaluating the deal, and Google’s support may help it secure a stronger credit rating than would be typical for the firm.

The AI industry’s hunger for data center space, chips, and electricity has attracted crypto miners unlikely partners, which already control power-intensive infrastructure that can be repurposed for AI workloads.

Google, which recently increased its backstop for TeraWulf to $3.2 billion, now holds a 14% stake in the company. That support helped AI cloud platform Fluidstack expand its use of a TeraWulf-run data center in New York in August.

Other crypto-native firms are following suit. Cipher Mining struck a similar agreement with Google and Fluidstack this week. Google will also backstop $1.4 billion in obligations tied to that deal and take an equity stake in Cipher.

TeraWulf shares dropped around 1.3% in Friday’s trading session and were unchanged in after-hours trading.



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September 28, 2025 0 comments
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GameFi Guides

Stablecoin Titan Tether Seeks $500 Billion Valuation on $20 Billion Raise: Report

by admin September 24, 2025



In brief

  • Tether is seeking to raise up to $20 billion, according to a report.
  • The private raise could give the stablecoin issuer a valuation of $500 billion.
  • AI giant OpenAI and Elon Musk’s SpaceX have received similar valuations.

Stablecoin giant Tether Holdings is hoping to raise up to $20 billion in a private placement that could give the company a monetary value of up to $500 billion, Bloomberg reported on Tuesday, citing two unnamed sources.

The valuation would cast the issuer of USDT, the world’s largest stablecoin, into the ranks of artificial intelligence developer OpenAI and Elon Musk’s space transport company SpaceX, which received similar valuations.

El Salvador-based Tether is aiming to raise $15-$20 billion for an approximate 3% stake, Bloomberg reported, although an additional source said that the range was a goal and could be much lower. The sources said discussions were in the initial stages and that the deal could change.



The announcement is the latest evidence of the rising significance of stablecoins, a result of the friendlier political and regulatory environment in the U.S. under the Trump administration, including the Genius Act greenlighting the issuance and trading of stablecoins.

During a White House visit in July shortly before the passage of the legislation, Tether CEO Paolo Ardoino, told Decrypt of the firm’s plans to create USAT, a U.S.-specific stablecoin catering to different use cases than USDT, the company’s flagship stablecoin. In September, the company named Bo Hines, former executive director of the White House’s digital assets working group, to serve as USAT’s CEO.

Earlier in the summer, stablecoin rival Circle listed on the New York Stock Exchange. The stock’s debut outpaced those of tech behemoths Meta, Robinhood, and Airbnb, nearly quadrupling its initial offer price of $31. The company currently has a valuation above $30 billion, according to Yahoo Finance data.

Tether has a market cap of $172 billion, more than double Circle’s $74 billion value, according to crypto data provider CoinGecko.

On Tuesday at a conference in Seoul, Hines said during an interview that Tether has no plans to raise money, Bloomberg reported. The deal would involve new shares, not current investors selling their equity. Investment bank Cantor Fitzgerald is serving as the lead adviser.

In recent weeks, potential investors have received access to a data room as they consider their participation, the publication reported, which added that a deal is expected to close by year’s end.

According to its own attestation in July, Tether issued $20 billion in USDT through the first six months of the year and generated a net profit of $5.7 billion over this period, including $4.9 billion in its second quarter alone. The firm counts Bitcoin and gold among its holdings.

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September 24, 2025 0 comments
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GameFi Guides

Tether Looking to Raise Upto $20B, Bringing its Valuation to $500B: Bloomberg

by admin September 23, 2025



Stablecoin giant Tether is looking to raise between $15 billion and $20 billion for about a 3% stake in the company through a private placement, Bloomberg reported, citing two people familiar with the matter.

The massive raise would bring its valuation to around $500 billion, putting it in the same league as OpenAI and SpaceX, Bloomberg reported. Tether would be issuing new equity, and Cantor Fitzgerald is acting as lead adviser.

Tether’s USDT has market cap of around $172.8 billion, making it the largest among stablecoins. Circle, which recently went public in the U.S., is the issuer of USDC, which has the second-largest market cap of $74 billion, according to CoinMarketCap data.

The report of the raise comes as Tether recently reported $4.9 billion in net profit in the second quarter and held over $162.5 billion in reserves against $157.1 billion in liabilities. It also holds about $8.9 billion in bitcoin in its reserves.

Bloomberg said that the talks of the deals are in early stages, and the final numbers of the raise could be significantly lower. According to the report, prospective investors have been given access to a data room over the past few weeks to facilitate the deal.

CoinDesk has requested Tether for comments.



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September 23, 2025 0 comments
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Ethzilla Plans To Raise $350M To Boost Eth Reserve
GameFi Guides

ETHZilla Plans to Raise $350M to Boost ETH Reserve

by admin September 23, 2025



ETHZilla Corporation has announced its latest capital plan, which includes securing a $350 million add-on convertible debenture investment from its existing institutional partner. The firm also provided a comprehensive business update, outlining its growing Ethereum (ETH) reserve, stock repurchase activity, and plans to tokenize real-world assets.

In their official press release, the firm said that the $350 million is raised via debenture insurance built on ETHZilla’s prior $156.5 million convertible debt arrangement. The update will have revised interest rates of 2% per year, starting from February 2026. 

New debentures will be issued at 2% annual interest with a conversion price of $3.05 per share, representing 1.05 times the firm’s market net asset value (mNAV). Furthermore, the company will now oversee a nearly $500 million interest-bearing securities portfolio, capturing excess interest income.

“ETHZilla is committed to being a responsible steward of shareholder capital,” said Chairman and CEO McAndrew Rudisill. “Our strategy is to deploy ETH into Layer 2 protocols and tokenize real-world assets to create sustainable free cash flow on the Ethereum network.”

ETHZilla’s yield strategy 

Besides buying ETH, the company also mentioned that it generated extra cash from using ETH in Layer 2 protocols and from its cash invested in the U.S. Treasuries and commercial paper, and it is looking into turning real-world assets into tokens. Furthermore, the firm repurchased approximately 500,000 shares at an average price of $2.41. At present, ETHZilla’s total holdings Ethereum is equivalent to 102,264, worth approximately $462 million. 

The firm also aims to roll out an ETH dashboard in the coming weeks, offering real-time visibility into its treasury and on-chain yield strategies. The company will also provide updated financial guidance for the remainder of 2025 in its Q3 earnings report. 

Also Read: BitMine Now Holds 2% of Ethereum, Raises $365M to Buy More



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September 23, 2025 0 comments
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ETHZilla Plans $350M Raise to Expand Ether Treasury and Yield Strategy
Crypto Trends

ETHZilla Plans $350M Raise to Expand Ether Treasury and Yield Strategy

by admin September 23, 2025



Ether treasury company ETHZilla is looking to raise another $350 million through new convertible bonds, with funds marked for more Ether purchases and generating yield through investments in the ecosystem. 

ETHZilla chairman and CEO McAndrew Rudisill said on Monday that the company’s strategy is to deploy Ether (ETH) in “cash-flowing assets” on the Ethereum network through layer-2 protocols and tokenizing real-world assets. 

“We believe our business model is highly scalable, with significant fixed operating leverage and recurring positive cash flow.”  

A growing number of digital asset companies are moving past simply holding crypto and looking to generate yields through active participation in the ecosystem, which crypto executives told Cointelegraph in August, could help spark a DeFi Summer 2.0.

ETHZilla is already earning tokens 

The Ether treasury company has already earned 1.5 million in unnamed tokens, according to the company’s disclosed financials through its participation in the ecosystem. 

“ETHZilla continues to actively deploy capital across the Ethereum ecosystem, strategically supporting a diverse range of protocols that drive innovation, long-term network growth, and differentiated yield,” the company said. 

It also previously raised $156.5 million through convertible bonds, which, combined with the fresh $350 million, leaves the company with over $506 million in its war chest. 

If it uses the entire raise for more Ether purchases, ETHZilla could stack another 120,000 tokens and add to their stash of 102,000, worth more than $428 million. 

ETHZilla, the eighth-largest Ether treasury company 

Formerly Life Sciences Corp, a Nasdaq-listed biotechnology company, it rebranded as ETHZilla Corporation in July to pivot heavily into Ether investment. 

ETHZilla is the eighth largest Ether treasury company out of 69 listed, which combined, hold 5.25 million tokens, worth over $22 billion and representing 4.25% of the circulating supply.

ETHZilla is the eighth-largest Ether treasury company with over 102,000 tokens. Source: StrategicETHReserve.XYZ

Tom Lee’s BitMine Immersion Technologies leads the pack with its 2.4 million Ether, while Sharplink Gaming is in second with 838,000 tokens. 

Stock price has been making small gains since crypto shift 

Founded in 2016 as a clinical-stage biotechnology firm, Life Sciences went public in 2020, but since its initial public offering, the stock has plunged by over 99% in the last five years. 

Related: Solana treasury race heats up as firms hunt staking rewards

The sharp decline was attributed mainly to a lack of revenue, mounting losses and repeated shareholder dilution to raise capital.

Its stock has since registered a 31% gain for the year, with its best-performing month coming in August when it rocketed to $10.70.

ETHZilla stock is up 31% year to date. Source: Google Finance 

In the last trading session, ETHZilla stock is down 5% in the regular session but rose 2% after hours to trade at $2.45. 

Magazine: Meet the Ethereum and Polkadot co-founder who wasn’t in Time



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September 23, 2025 0 comments
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Crypto Trends

Helius Shares Pump 141% Amid $500 Million Raise for Solana Treasury

by admin September 16, 2025



In brief

  • Publicly traded Helius Medical Technologies announced that it’s raising $500 million to establish a Solana treasury.
  • The firm’s stock price rose by more than 141% as of the close of trading Monday.
  • Helius Medical Technologies is not affiliated with notable Solana infrastructure startup, Helius.

Medical devices manufacturer Helius Medical Technologies has raised $500 million through a private placement in public equity (PIPE) to create a Solana treasury, the company announced on Monday, part of a growing list of Nasdaq-traded companies shifting their focus to accumulate SOL.

Venture capital firms Pantera Capital and Summer Capital led the offering, which also included Big Brain Holdings, Avenir, FalconX, Arrington Capital, Animoca Brands, and HashKey Capital, among others. The offering is expected to close on or around Thursday.

“We believe that Solana is a category-defining blockchain and the foundation on which a new financial system will be built,” said Dan Morehead, founder and managing partner of Pantera Capital.

The announcement follows closely after several others in recent months involving Solana treasuries as companies—many of them struggling—seek ways to benefit from the surge in digital asset markets. Their efforts have, in turn, helped fuel the rally in crypto prices this year. Solana was recently trading at $233, up nearly 60% over the past three months.

A Myriad market showed that investors are upbeat about Solana, with 90% of them saying it would sooner rise to $250 rather than sink to $130.

(Disclosure: Myriad is a prediction market and engagement platform developed by DASTAN, parent company of an editorially independent Decrypt.)



Helius shares closed at $18.27, up about 141% in Monday trading, regaining a small portion of ground it has lost over the past year. HSDT hit over $772 last December.

Participants in the PIPE, which Helius said was “oversubscribed,” purchased common stock (and/or pre-funded warrants to purchase shares) for $6.81 and stapled warrants to buy shares with an exercise price equal to $10.13 per stapled warrant. Investors can exercise the stapled warrants for three years from the issue date.

Stapled warrants are contractual agreements that are tied to another security and cannot be exchanged or sold alone. Companies use them to make an offer more inviting for investors.

The announcement led to a humorous moment when Mert Mumtaz, the CEO of Helius—an unaffiliated provider of infrastructure and tooling for Solana developers—wrote on Twitter that he had received more than 50 messages assuming his company was responsible for the treasury.

some personal news

No, in all seriousness, I’m not involved with this at all — the name is yet another coincidence.

The universe is quite literally trolling me at this point

Again: I am not involved, neither is @heliuslabs nor Helium nor Helio nor Heliux nor Helicopter https://t.co/u0HbDs0ydr

— mert | helius.dev (@0xMert_) September 15, 2025

“I’m not involved with this at all,” the prominent Solana ecosystem personality noted, adding: “The universe is quite literally trolling me at this point. Again: I am not involved, neither is Helius Labs nor Helium nor Helio nor Heliux nor Helicopter.”

On Monday, medical design firm Forward Industries completed its first major Solana acquisition, becoming the largest publicly traded Solana treasury after amassing nearly $1.6 billion worth of SOL.

Last week, Canada-based SOL Strategies started trading on the Nasdaq Exchange, increasing its exposure to investors beyond the Canadian Stock Exchange and OTC markets. The firm has about $100 million worth of SOL in its treasury, though users have pledged a much larger tally to its network validator business. Based on its August business update, SOL Strategies now has 3.6 million SOL delegated to its validators, or greater than $820 million in assets under delegation.

Earlier this month, medical device packaging company Sharps Technology announced the acquisition of 2 million Solana, creating a $400 million treasury. Over the past three weeks, DeFi Development Corp, previously known as Janover—a real estate financing platform turned AI services firm—has added more than 603,000 SOL, bringing its tally above 2 million SOL.

Consumer products manufacturer Upexi now also holds more than 2 million Solana, nearly tripling its total, after multiple SOL purchases since June. And Classover, an edtech company, announced in June that it had purchased about 6,500 SOL as the first step in a plan backed by a $500 million convertible note program dedicated to acquiring and staking SOL.

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September 16, 2025 0 comments
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Helius (HSDT) Soars 200% on $500M Raise for SOL Treasury
Crypto Trends

Helius (HSDT) Soars 200% on $500M Raise for SOL Treasury

by admin September 15, 2025



Helius Medical Technologies (HSDT) announced on Monday it’s raising more than $500 million in a private financing round to create a Solana-focused treasury company.

The vehicle will hold SOL, the native token of the Solana blockchain, as its reserve asset and aims to expand to more than $1.25 billion via stock warrants tied to the deal, the press release said.

The financing was led by Pantera Capital and Summer Capital, with participation from investors including Animoca Brands, FalconX and HashKey Capital.

Shares of the firm rallied over 200% above $24 in pre-market trading following the announcement. Solana was down 4% over the past 24 hours.

The firm is joining the latest wave of new digital asset treasuries, or DATs, with public companies pivoting to raise funds and buy cryptocurrencies like bitcoin BTC$114,744.60, ether (ETH) or SOL.

Helius is set to rival with the recently launched Forward Industries (FORD) with a $1.65 billion war chest backed by Galaxy Digital and others. That firm confirmed on Monday that has already purchased 6.8 million tokens for roughly $1.58 billion last week.

Helius’ plan is to use Solana’s yield-bearing design to generate income on the holdings, earning staking rewards of around 7% as well as deploying tokens in decentralized finance (DeFi) and lending opportunities. Incoming executive chairman Joseph Chee, founder of Summer Capital and a former UBS banker, will lead the firm’s digital asset strategy alongside Pantera’s Cosmo Jiang and Dan Morehead.

“As a pioneer in the digital asset treasury space, having participated in the formation of the strategy at Twenty One Capital (CEP) with Tether, Softbank and Cantor, Bitmine (BMNR) with Tom Lee and Mozayyx as well as EightCo (OCTO) with Dan Ives and Sam Altman, we have built the expertise to set up the pre-eminent Solana treasury vehicle,” Cosmo Jiang, general partner at Pantera Capital, said in a statement.

“There is a real opportunity to drive the flywheel of creating shareholder value that Michael Saylor has pioneered with Strategy by accelerating Solana adoption,” he added.

Read more: Solana Surges as Galaxy Scoops Up Over $700M Tokens From Exchanges



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September 15, 2025 0 comments
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NFT Gaming

Will an Ethereum Run Make It Hard for ETH Treasuries to Raise Cash?

by admin September 6, 2025



In brief

  • Digital asset treasury companies face shrinking market-to-net asset value (mNAV) ratios.
  • BitMine and SharpLink Gaming have seen their mNAV fall below 1.0, to 0.99 and 0.89 respectively.
  • The mNAV erosion threatens DATs’ ability to raise capital through at-the-market equity programs, forcing painful share dilution and stalling capital raises, analysts said.

As Ethereum claws its way upward this week, a looming challenge threatens digital asset treasury (DAT) companies as their mNAVs have come close to 1 or slipped below it, with experts signaling potential trouble for future capital inflows.

mNAV, or market-to-net asset value, compares a company’s stock value to that of its assets. And for digital asset treasury companies, the value of their crypto treasuries can experience dramatic fluctuations.

Data from Strategic ETH Reserve shows a steep drop in mNAV for key players. BitMine and SharpLink Gaming have seen their mNAV fall below 1, to 0.99 and 0.89, respectively. BitDigital and GameSquare Holdings Inc have seen there’s slip, but hold above 1 so far. BTBT is at 1.51 and GAME has fallen to 1.13.

The downtick in mNAV tracks the broader crypto market’s dip, with Bitcoin falling from its mid-August peak, when it set a new all-time high of $124,545.6, to $112,154, per CoinGecko.



For DATs holding hefty Ethereum reserves—BitMine has $8.3 billion and Sharplink holds $3.7 billion worth of ETH—this erosion of premium could choke off their ability to raise cash without punishing existing investors.

“I think that’s why we’ve seen capital raises stall after a busy stretch earlier this year: Investors just don’t want to pay the premiums for the same ETH exposure,” Arthur Azizov, founder and investor at B2 Ventures, told Decrypt.

For DATs, mNAV is the lifeblood of capital raises, particularly through at-the-market (ATM) equity programs, where a premium over net asset value allows companies to issue stock without harming investors.

But as mNAVs shrink, “companies must issue far more shares to raise the same capital, leading to painful dilution,” CryptoQuant analyst Maarten Regterschot told Decrypt.

While Ethereum’s price volatility erodes mNAV cushions, relentless ATM share sales flood the market, driving down valuations, Azizov highlighted. Adding pressure, spot Ethereum ETFs offer investors direct exposure without the premium DATs once commanded, he said.

“Investors aren’t willing to pay extra for the same Ethereum,” Azizov explained, noting why capital raises have ground to a halt lately.

According to Regterschot, a stagnant ETH/BTC price is another source that has pressured mNAVs’ recent plunge, creating a feedback loop where fading premiums and rising share supply choke demand.

The outlook for Q4 is make-or-break, both experts highlighted.

A bullish Ethereum run could revive mNAVs, allowing DATs to issue stock on favorable terms and bolster ETH holdings, thereby restarting growth. But if ETH stalls or the crypto market turns bearish due to macroeconomic concerns, mNAVs could dip below 1, effectively putting a stop on new issuance.

“A strong quarter is critical,” Azizov said. Without it, DATs may be forced to lean on staking yields, with netflows stalling as they navigate a constrained funding landscape.

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September 6, 2025 0 comments
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Cleancore Solutions To Raise $175 Million For Dogecoin Treasury
GameFi Guides

CleanCore Solutions To Raise $175 million For Dogecoin Treasury

by admin September 2, 2025



CleanCore Solutions, Inc. (NYSE American: ZONE), a company dedicated to cleaning and disinfection technology, today announced a monumental pivot into the world of digital assets. The firm is raising approximately $175 million through a private placement to establish the first-ever official Dogecoin Treasury, partnering with the House of Doge.

This transaction is designed to formally adopt Dogecoin (DOGE) as the company’s primary treasury reserve asset, marking a significant step in the asset’s timeline

The deal was structured as a private investment in public equity (PIPE), consisting of the sale of 175,000,420 Pre-Funded Warrants at a price of $1.00 each. The offering, expected to close on or about September 4, 2025, drew support from a formidable consortium of over 80 marquee institutional and crypto-native investors, including MOZAYYX, Pantera, GSR, FalconX, Borderless, Mythos, and Serrur & Co. LLC.

According to the announcement, the net proceeds will be used to acquire DOGE for the Company’s treasury operations, as well as for general working capital and corporate purposes. This initiative creates the only official Dogecoin treasury to be sponsored by the Dogecoin Foundation itself.

“By anchoring Dogecoin with an official foundation-backed treasury strategy, we’re setting a precedent for how public companies can align with foundations to build real utility around digital currency, while honoring the community,” stated Marco Margiotta, Chief Executive Officer of the House of Doge.

A Leadership Overhaul

The strategic shift is accompanied by a significant leadership restructuring. Prominent lawyer Alex Spiro will immediately become Chairman of the Board of Directors. Alongside him, two key figures from the Dogecoin ecosystem will join CleanCore’s ranks: Timothy Stebbing, a Director at the Dogecoin Foundation and CTO of House of Doge, will take a seat on the board, and Marco Margiotta will assume the role of Chief Investment Officer for the company.

The treasury will also receive support and advisory services from the House of Doge and digital asset firm 21Shares.

Timothy Stebbing commented on the development, stating, “This new treasury vehicle is a fundamental step toward the House of Doge and Dogecoin Foundation’s mission to bring institutional adoption to Dogecoin. By laying the groundwork for institutions through treasury and ETFs with 21Shares, we are building underlying legitimacy as a serious currency beyond Dogecoin’s meme-inspired origins. This is critical to pave the way for real institutional adoption, as Main Street must feel confident investing in commercial integration for payments.”

Beyond the Meme

This venture explicitly aims to expand Dogecoin’s utility beyond its origins as a meme. The strategy focuses on establishing the cryptocurrency as a leading cryptocurrency optimized for payments, tokenization, and everyday use. Expanding commercialization, new integrations, and increasing retail acceptance are expected to accelerate institutional participation and drive stronger demand.

Clayton Adams, CEO of CleanCore, described the move as a “watershed moment” for both his company and the Dogecoin community. 

Also Read: Elon Musk’s Lawyer to Chair $200M Dogecoin Treasury Plan



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September 2, 2025 0 comments
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