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Strategy’s Preferred Shares Form a Bullish Circle Around BTC
Crypto Trends

Strategy’s Preferred Shares Form a Bullish Circle Around BTC

by admin August 30, 2025



Disclaimer: The analyst who wrote this piece owns shares of MicroStrategy (MSTR).

Microstrategy, now known as Strategy (MSTR), has reshaped U.S. capital markets in 2025 by issuing a series of preferred stock under tickers STRK, STRF, STRD and STRC.

Collectively, these offerings raised about $5.6 billion year-to-date, making up for 12% of all U.S. IPO issuance (preferred or common) , according to Strategy. That scale alone underscores both investor appetite and the company’s role as the most visible corporate proxy for bitcoin BTC$108,549.02.

Performance across the preferreds has varied. STRF leads with a lifetime return of 31%, followed by STRK at 19% and STRC at 8%, while STRD has lagged with a negative 6% return. Still, the circle of financing vehicles has given Strategy a diversified base to fund its treasury. As of August, the company holds 632,457 BTC, cementing its position as the world’s largest corporate holder of the asset.

The firm’s enterprise value relative to bitcoin NAV stands at 1.60, with NAV calculated by dividing enterprise value, including preferreds and convertible debt, by the company’s bitcoin holdings but has declined over the past month as the stock has fallen over 25% from its July high.

So far in 2025, MSTR shares are up 13% year-to-date, compared to an 18% gain in bitcoin. That gap highlights both the company’s leverage to BTC and the market’s pricing of its debt and preferred stock obligations.

Alongside Strategy’s bold circle of offerings, other U.S. IPOs have also shone in 2025, making up the remaining $42 billion, including Bullish (BLSH) and Circle (CRCL), reinforcing a year defined by renewed risk appetite and crypto-linked capital market innovation.



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August 30, 2025 0 comments
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Bitcoin
Crypto Trends

Bitcoin To Hit $1 Million? Eric Trump Shares Optimistic Outlook On Cryptocurrency

by admin August 30, 2025


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

At the Bitcoin Asia conference in Hong Kong, Eric Trump, the son of President Donald Trump, predicted that the market’s leading cryptocurrency, Bitcoin (BTC) could soar to $1 million within the next few years, which could represent a major 825% increase from current levels. 

Eric Trump Bullish On Bitcoin

As reported by Reuters earlier on Friday, during a panel discussion, Eric Trump emphasized China’s significant influence in the cryptocurrency sector, referring to the country as “a hell of a power” in driving crypto innovation.

Nevertheless, China still seems far from the US’s role in adopting cryptocurrencies, as the Asian country continues to face significant restrictions on operating digital assets. 

Despite these restrictions by regulators since 2021, Mainland China is reportedly exploring yuan-backed stablecoins to enhance its global usage. Meanwhile, Hong Kong has taken steps to establish itself as a digital asset hub, passing a stablecoin bill in May.

On the other hand, under President Trump’s leadership, the United States has proposed establishing a Bitcoin reserve and passing three key crypto bills, including the GENIUS Act, which could accelerate the use of dollar-pegged cryptocurrencies in everyday transactions.

This has significantly contributed to the broader market’s price surge with Bitcoin reaching a new record of $124,000 on August 14, and Ethereum (ETH) also reaching an all-time high (ATH) just below the $5,000 mark last weekend. 

Despite the cryptocurrency’s recent dip toward $108,000, Eric Trump confidently stated, “There’s no question Bitcoin hits $1 million,” citing strong institutional demand and the cryptocurrency’s limited supply as key factors supporting his optimism.

Crypto Talks Between Trump And Xi Jinping?

When asked if President Donald Trump and Chinese President Xi Jinping might soon discuss cryptocurrencies, Eric Trump suggested that both nations likely possess a deeper understanding of digital currencies than most other countries. 

He highlighted the support the Bitcoin community has shown for his father, expressing hope that such backing would yield significant returns for both the community and the Trump family.

In recent months, the Trump family has ventured into various cryptocurrency initiatives, including the launch of a decentralized finance (DeFi) platform, a stablecoin, a Bitcoin mining operation, and the applications of crypto-focused exchange-traded funds (ETFs). 

Notably, American Bitcoin, a new crypto miner founded in collaboration with Hut 8 and backed by Eric Trump and his brother, Donald Trump Jr., is preparing for a Nasdaq listing next month.

Reuters also reported that during the same conference, crypto exchange Binance founder and former CEO Changpeng Zhao (CZ) remarked that the US is setting a precedent for progressive regulations that could prompt other governments to take similar actions. 

The 1D chart shows BTC’s price correction. Source: BTCUSDT on TradingView.com

Featured image from DALL-E, chart from TradingView.com 

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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August 30, 2025 0 comments
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IREN Post First Full-Year Profit, Shares Rise
Crypto Trends

IREN Post First Full-Year Profit, Shares Rise

by admin August 29, 2025



Bitcoin BTC$109,698.58 miner IREN (IREN) posted its first full-year profit as the company founded in 2018 expanded into AI cloud computing and ramped up production capacity with more efficient rigs. The stock climbed in pre-market trading.

Net income in the year ended June 30 rose to $86.9 million from a loss of $28.9 million the year before, IREN said on its website on Thursday. Revenue more than doubled to a record $501 million as the Sydney-based company increased production capacity to 50 exahashes per second (EH/s). Adjusted earnings before interest, tax, depreciation and amortization (Ebitda) surged to $269.7 million, nearly five times last year’s level,

With nearly 3 gigawatts of contracted power and expansion in both bitcoin mining and AI infrastructure, IREN has positioned itself as one of the sector’s fastest-growing participants. Market cap, currently $5.3 million, is on the verge of overtaking its largest rival, MARA Holdings (MARA), which is valued at under $6 billion, Farside Investors data shows.

The Nasdaq-traded stock rose 13% before the market opening, adding to the year’s existing gain of more than 120%.

Mining operations generated more than $1 billion in annualized revenue, while the AI cloud unit is on track for as much as $250 million in annualized revenue by December, the company said. It has 10,900 NVIDIA GPUs already deployed and capacity for more than 60,000 GPUs across existing sites.



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August 29, 2025 0 comments
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Dogecoin to Proof of Stake? Cofounder Shares His 2 Cents
GameFi Guides

Dogecoin to Proof of Stake? Cofounder Shares His 2 Cents

by admin August 28, 2025


Dogecoin founder Billy Markus, known as Shibetoshi Nakamoto on X, took to the platform to discuss the recent debate about the meme coin’s algorithmic consensus. The discourse in the community centers on transitioning Dogecoin (DOGE) from a proof-of-work (PoW) consensus to a proof-of-stake (PoS) one.

Dogecoin not moving to PoS chain

In his post, Markus said his view is that the debate is annoying. According to the DOGE founder, transitioning into PoS would fracture the community. He added that a PoS consensus would cause a fork, resulting in multiple Dogecoins.

i think the chatter about changing the consensus algorithm of dogecoin from PoW to PoS is annoying

all it would do is fracture the community and cause a fork resulting in multiple dogecoins, the chaos isn’t worth it

— Shibetoshi Nakamoto (@BillyM2k) August 27, 2025

The people pushing for PoS argue it addresses the limitations of PoW, while enhancing the potential of Dogecoin for global use. These arguments are substantiated by the success of Ethereum’s PoS and broader industry trends toward energy-efficient blockchains.

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Responding to Markus, Dogecoin Foundation Director Timothy Stebbing said his advocacy is to assess all proposals on their technical merit, for the benefit of the currency.

He emphasized that they even built Dogebox for the community to deploy different ideas and nodes to make educated choices for the future of DOGE. 

Stebbing concluded that the debate is like a peeing contest, so he is conceding that at this point. He said there is little value in continuing to invest engineering time in trying to speed up the network via a serious consensus change.

“The Dogecoin community seems happy with 40 transactions a second, and imagining that will move the needle as a global currency,” says Stebbing.

Dogecoin whales increase activity

Meanwhile, the Dogecoin community has witnessed increased whale activity over the past few days. 

As U.Today reported, a new whale pulled out 52.9 million DOGE, valued at about $12 million, from Binance. Historically, such movements are seen as whales holding on to their stash, rather than trading their assets.

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In an earlier transaction, a mysterious whale sent 500,000,000 DOGE, worth over $106 million, to Binance. This transaction quickly sparked sell-off concerns on the market as the meme coin traded in the lower region.

Nevertheless, DOGE is currently on an uptrend, with the price increasing by 2.6% over the past 24 hours. DOGE trading volume also jumped 14.4% to $2.4 billion.





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August 28, 2025 0 comments
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Ken Levine Shares Judas Key Art And Details About The Game's Villains
Game Updates

Ken Levine Shares Judas Key Art And Details About The Game’s Villains

by admin August 28, 2025


Judas was formally revealed during The Game Awards 2022 as the next game from BioShock creator Ken Levine and his studio, Ghost Story Games. Since then, the team has remained mostly silent, save for a gameplay trailer last year, on what it’s been up to with this sci-fi shooter (that looks a lot like BioShock). However, Levine took to the PlayStation Blog to share new details about the game’s Big 3, villainy system, and the Judas key art. 

Taking inspiration from famed Star Wars poster illustrator Drew Struzan, the Judas key art features the protagonist up front and center, seemingly overshadowing what I think is a variant of her (presumably alluding to the way choices can affect the narrative of the game, though it could just be a totally different character), above the Big 3: Queen Nefertiti, Sheriff Tom Austin, and Hope Jimenez. Levine teases there’s more to glean from this key art, so I’ll leave you to it: 

Alongside this key art, Levine has shared that Ghost Story Games has just finished a major milestone it calls “Villainy.” The director writes that villainy is a central feature of Judas, and that your actions will attract members of the Big 3 to you as friends, or turn them into foes. “When you play BioShock or BioShock Infinite, the villain is always going to be the villain,” Levine writes in the blog. “Fontaine, Comstock – they’re always going to be the bad guys. In Judas, your actions will attract members of the Big 3 to you as friends. But ignore one of them enough, and they become the villain. From there, they will get access to a new suite of powers to subvert your actions and goals.” 

The included clip in the blog post shows a Rent-a-Deputy robotic horse, which can attack enemies for you once rented, turning against you at the hands of Big 3 member, Sheriff Tom Austin. Levine says this is just a small way a Big 3 friend-turned-foe can make your life on the Mayflower, the spaceship setting of Judas, harder. 

 

In the blog, Levine continues, explaining Ghost Story Games wants players to get to know the Big 3 intimately, and wants losing one of them to feel like losing a friend. The Big 3 will be competing for your favor and attention through Judas – they can bribe you, save you in battle, badmouth the other two Big 3 members, and share with you their deepest secrets. But, as Levine points out, eventually, you have to decide who you trust and who you don’t… and that’s going to cause problems. 

“In BioShock Infinite, there was a lot of energy invested into developing your relationship with Elizabeth,” Levine writes. “By the end of the game, you knew everything about her, her abilities, her hopes, and dreams. But the truth is she knew almost nothing about you, the gamer playing Booker. In Judas, the Big 3 observe you as you play, and they have feelings not only about how you approach combat, hacking, and crafting, but most importantly, your interactions with the other two characters.” 

Unfortunately, today’s blog doesn’t include a release date or window for Judas as Ghost Story Games doesn’t want to say when its game will launch until it’s confident in a date it can hold. Considering Levine’s release track record, Judas could still be years away (but hopefully it isn’t). 

In the meantime, watch the Judas reveal trailer, and then check out the Judas gameplay trailer shown last year. After that, read about what we want from BioShock 4, which isn’t being developed by Ken Levine but is in the works at newcomer studio Cloud Chamber. 

What do you think of Judas’ Big 3 villainy system? Let us know in the comments below!



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August 28, 2025 0 comments
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Robinhood, Strategy Shares Dip on S&P 500 Snub
Crypto Trends

Robinhood, Strategy Shares Dip on S&P 500 Snub

by admin August 26, 2025



Shares in trading platform Robinhood Markets and Bitcoin treasury firm Strategy fell in after-hours trading on Monday after missing out on being included in the S&P 500, amid a broader market dip.

S&P Dow Jones Indices said late Monday that brokerage Interactive Brokers Group would join the index tracking the 500 largest US companies at market open on Thursday and replace the pharmacy chain Walgreens Boots Alliance.

Wall Street has long been expecting Robinhood to join the S&P 500, and MicroStrategy, trading as Strategy, had recently become eligible for inclusion as its market cap has been boosted by the rising value of its Bitcoin (BTC) holdings.

Inclusion on the S&P 500 is typically seen as a boon for a company, as its shares would be scooped up by passive investors and other funds aiming to track the index.

Robinhood again snubbed from S&P 500

Shares in the crypto and stock trading platform Robinhood (HOOD) ended after-hours trading down 0.5% at $107.40 after closing trading on Monday at a 1.26% loss.

In comparison, Interactive Brokers (IBKR) saw a 3.9% lift in extended trading to $65.21 on the announcement of its inclusion after gaining less than 0.6% throughout the trading day, while the S&P 500 ended trading 0.4% down.

Source: Google Finance

Robinhood shares had also dropped in early June after S&P Dow Jones Indices announced there would be no changes to the S&P 500 in its quarterly rebalancing.

The company’s stock has, however, gained nearly 190% this year and has continued to break price records, seeing a lift from renewed retail investor enthusiasm.

Strategy also down on S&P miss and Bitcoin drop

Shares in the software firm Strategy (MSTR) also dropped on Monday, ending the day’s session down 4.17% and a further 0.6% in after-hours trading to $341.

Related: Bitcoin futures demand rises even as BTC sells off: What gives? 

The company’s stock fell alongside Bitcoin, which was down 2% in the past day after briefly slipping below $110,000.

S&P 500 inclusion is not just about stock price

A company’s inclusion on the S&P 500 is the decision of a committee who are guided by a range of criteria a company needs to meet before it is added.

A company needs to have a market capitalization of at least $22.7 billion, be based in the US and listed on the New York Stock Exchange, the Nasdaq or Cboe.

Its shares must also meet minimum requirements for market liquidity and volume.

Jack Dorsey’s financial services company, Block, Inc., was the latest crypto-tied company to make the index and joined the S&P 500 on July 23.

Magazine: Altcoin season 2025 is almost here… but the rules have changed



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August 26, 2025 0 comments
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What's Next For Overwatch 2? Blizzard Shares Future Plans, Why Story Missions Fell Apart, And More
Game Updates

What’s Next For Overwatch 2? Blizzard Shares Future Plans, Why Story Missions Fell Apart, And More

by admin August 26, 2025



Without being hyperbolic–and as someone who has been an on-and-off again Overwatch fan since the original game’s release back in 2016–I don’t mean it lightly when I say that I believe Overwatch has never been better.

I’ve critiqued the series quite a bit throughout the years. In my Overwatch 2 review, I wrote at length about how it felt “detached from the principles and charm of the original,” was seemingly struggling to retain its identity, and how its new monetization models felt disingenuous and “at odds with the spirit of the original Overwatch.” Harsh words, yes, but I meant them. I was frustrated by what one of my all-time favorite games had become, and worried that I’d be chasing the same bliss I felt playing in 2017 endlessly and to no avail.

So, with all that said, how did we get here?

I recently had the opportunity to discuss the state of Overwatch 2 with game director Aaron Keller and associate game director Alec Dawson in an exclusive interview for GameSpot, and it seems a lot of this dramatic turn-around boils down to two things: an increased emphasis on responding to player feedback, and a sharp pivot away from the “conservative” mentality the Overwatch 2 team once clung to. The result is a vastly improved game that is taking big swings with more efficiency.

Be it Stadium mode, Perks, the inclusion of heroes with never-before-tried mechanics, map voting, hero bans, or one of the many other tweaks and additions made to the game, Blizzard is not shying away from shaking up Overwatch 2’s core gameplay loop; Season 18 is no exception. And according to Keller and Dawson, all these changes are just the beginning of the studio’s push to “explore how big” Overwatch can become.

GameSpot: A lot of changes have happened this year in Overwatch 2, so I would love to start by unpacking that with you both. How do you think things are going? How are you feeling about the overall health of the game?

Keller: When you look at the way that 2025 has gone for the game, we’ve done a lot of big releases. Earlier this year, we released our Perk system, which was a pretty substantial game mechanic that changed the way moment-to-moment gameplay can happen. It gave players more strategic choices that they could make over the course of a match and put more emphasis on what a hero can do and [fulfilling] that power fantasy.

In Season 16, we released Stadium. It’s probably the biggest new game mode we’ve ever introduced to the game and there was a lot of player excitement there. We’ve done a lot of other things, too. We introduced hero bans this year. We introduced map voting this year. We’ve introduced a new hero as well, with another one soon to come.

A lot of players are now telling us that this is the best state that Overwatch has ever been in and we think that some of that is because we’re making bigger changes to the game than we typically would have in the past. If you look back on the history of Overwatch, you could say that maybe we’re a little bit conservative, but we have a new mindset and a new vision for how we operate the game. [We want] to be taking bigger swings and bigger bets with Overwatch, and I think you’ll see that when we get to Season 18.

That’s great to hear. Touching on that, I would love to hear a little bit more about what’s coming tomorrow in Season 18.

Dawson: We look at Season 18 as sort of the next steps for a number of the big swings we’ve taken this year. There’s around 60 new Perks that are brand new–every hero gets [a refresh]. Quick play is coming to Stadium, and then you have four new heroes coming: Brigitte, Winston, Farah, and then Tracer.

A lot of what we’re doing in [Season] 18 [stems from] evaluating what’s in the game currently and evolving it in some way and/or even revamping it. Our progression system is a great example. It’s been one of those things that’s been in the game for a bit now, but there’s a lot of screen space that players weren’t really caring about; a lot of bars going up, a lot of things you’re leveling up. We want to simplify it–make sure it’s a lot more visible, make sure it’s a lot more surfaced.

Keller: We are doing a total revamp to our progression system. When you looked at our progression system before, it kind of just felt like there were just a bunch of bars going up all the time. It was pretty complex and so we’ve simplified it. But the exciting thing about it is that, not only is it easier to understand, but it has a lot of cool new rewards too.

There’s a whole rewards track where you’re updating things like emotes and Play of the Game [intros]–even loot boxes and legendary loot boxes. There’s a whole Ascended State where you get a really cool icon with VFX on it that lets you and other players know just how much time you’ve put into each one of your heroes. We have a new Hero [Skill Rating] system coming out, so you’re going to know how good [you are] not just at a [particular] role, but how well you play each of your heroes in Competitive. You can see which ones you’re better at, and which ones you’re worse at. We also have a new advanced hero info panel, where you can look up stats on what all of the different heroes do.

We’re bringing Stadium to Quick Play, which is one of the biggest requests that our players have for the mode, and that’s coming with cross-play enabled. We have four new heroes coming to Stadium, a new game mode, Payload Race, and two brand new maps for it. You mentioned Wuyang, our new support hero, is coming, and we have changes to Roadhog too. Lucio Ball is back–this time in third-person–and there’s mouse and keyboard support coming to console.

We even have [things] on the cosmetic side. Kiriko’s getting this skateboard emote [that lets her] travel around the maps riding a skateboard. The Mythic [Character] skins and Mythic Weapon skins are really cool this season… It’s a huge update to Overwatch. This is going to be one of the biggest seasons we’ve ever had for the game.

Is this the biggest update in terms of sheer content? Because I feel like, based on what you’re saying, I don’t know if there’s ever been an update quite this big.

Keller: I don’t want to jump into hyperbole and say like this is the biggest one coming, but man, it’s… it is big.

Dawson: There’s truth to that, though, to some degree. I think our team has been getting better and better about structuring our seasons to where, now, we can create some really big beats. Season 9 felt like a big change in the game, and then they went to Season 12 which had Juno and a bunch of competitive updates. 15 and 16 [added] Perks and Stadium. And now 18, is another massive update for Overwatch. We’ve been getting a lot more efficient and a lot better at planning over time, which has led to these big moments for Overwatch. [We can now] decide, like, “Hey, how do we want to change the game for the middle of the year?”

I can sense that. Even with your newest hero, Wuyang–he feels extremely different.

Keller: Yeah, there’s a lot of unique mechanics and abilities with Wuyang that I just think it’d be great to touch on. He can surf on his own private wave and cruise around the map. He gets this speed boost with it, too, and is able to jump over gaps and things like that. He can use his staff to create this wave of water in front of him that knocks down enemies, and can turn himself or allies basically into ticking time bombs by imbuing them with water. But what I’m most excited about with Wuyang is his primary fire. He shoots out this orb, and you can kind of do it rapid fire, but at any moment, you can also take control of it and steer it, turning it into a guided missile. Even if they take cover, you can actually bend it around a corner. There’s some skill expression here. It takes a little bit of practice to actually be able to do it, but once you get it, it feels so satisfying.

Dawson: I think he’s one of the best support heroes we’ve ever made. He’s an example of what a support is in Overwatch 2, where you can have a ton of impact through your offense and can make game-changing plays. Wuyang is dynamic in the sense that he has to go from offense to defense quite quickly. All of your attention is gonna be on the primary fire, landing some of those shots, and tracking people down, but then you have these defensive options that you’re going to [need to] be really timely with. His guardian wave is this big wave that gives healing and gives heal boosts–it can change the fight instantly.

I think players are going to really love him. I know we’re not supposed to play favorites, but he’s a joy to play with and I think he’s really special.

I think he’s also one of the first heroes where his skills and powers feel almost more magical rather than technological, right? I feel like Overwatch historically has always leaned more into tech rather than magic. Was that a conversation that had to be had when developing him?

Keller: Oh yeah, and we have those conversations all the time. We had those conversations a lot with both Hanzo and Genji, you know, because when they summon the dragon, that feels like a pretty magical thing there as well. We do have our own internal explanations for that that we’ll actually get into at some point with our players, but we’re not quite ready to yet. I guess all I can really say right now is that Overwatch is a science fiction game, and so there is an explanation behind the way those work.

At this point, do you feel like you’re still fighting that initial nature of being conservative? Like you both said, for a long time, Overwatch was more conservative. Are you still fighting that hesitation or is it like, “Nope, we’re all in”?

Keller: I think the team has left a lot of the hesitation about being conservative behind. The question for us really is, how big do we go with releases for Overwatch? Because there’s two sides of this coin. There’s an active player base that really appreciates the way that the game plays right now, you know. But we also see that, anytime we do make a big release for the game, players respond to it really positively.

So we want to keep going big. I think what we want to do is explore how big we really can go for Overwatch. And I think as we hit seasons like 18 here, and we see players’ excitement, that gives us the confidence to know this isn’t just the right direction–this is something that we can expand on in the future. We can keep pushing the boundaries of what a release for Overwatch can be.

With the implementation of Stadium, did you see a spike in people playing Overwatch 2? If so, how is retention following that?

Keller: There was a huge spike of people jumping into Stadium when it first came out. I think we went public at one point saying that over 50% of play hours in Overwatch were in Stadium. And when we do have new modes for the game, we do always see that initial burst of excitement and then it’ll kind of taper off after that. And Stadium did taper off, but not to the extent that our other modes have. It’s still, I think, our third most popular mode in the game right now, just behind Quick Play and Competitive.

Dawson: We view Stadium as one of the main ways to play Overwatch, and Season 18 as almost Stadium’s 1.0 launch. A lot of players are clamoring to have Quick Play in there. They’re clamoring for something that’s a little bit more brief and doesn’t have a rank associated with it. So with Quick Play, it’s a best-of-five round structure and you power up your hero even faster as well.

And then the other main piece of feedback from players is, “Hey, my favorite hero isn’t here.” So we’re continuing to release new heroes into Stadium. We’re going to be doing that throughout the rest of the year and there’s four this season who I’m really excited about. Tracer in particular. I think… She’s a little wild.

Keller: I’m super excited about Winston jumping into Stadium. I love playing as him and using his mobility. Sometimes with Winston, you just feel like you’re holding down primary fire a little bit too long to actually be doing what you want to do. [With Stadium], you can really juice his gun and it feels so satisfying.

How did you land on those four heroes and what are some other heroes who you see people clamoring for and are on the docket? If you can’t say right now, can you share what gameplay styles you’re focused on bringing in?

Keller: There’s a lot of things we look at when we’re looking at heroes for Stadium. First and foremost is how well we feel like we can make a really cool set of abilities for them. We want every hero in there to really double down on “hero fantasy.” We want to make sure that comes across to our players.

For the first few seasons of Stadium, we really tried to have at least a few heroes per role. Eventually, I think we’re going to have to break that pattern and start moving into other patterns. I think we’ll start seeing, you know, maybe different numbers of heroes coming to Stadium with different role ratios.

We want to make sure that heroes that we know a lot of people play are available there. Like Alex said, you know, we have a lot of people saying things like, “Hey, I’m just sitting on the sidelines, waiting for my hero to join the cast.” So we want to make sure that we’re opening up that funnel.

There’s also a few heroes we’re avoiding, you know? Like Widowmaker, who is a controversial hero that’s designed around a one-shot [kill]. I think that there’s probably some learnings we need to do with how we build those heroes–how we build counters for some of the sharper mechanics.

There was a recent IGN article in which you said that you’d “dropped the ball with story in Overwatch 2,” and I thought that was interesting to bring up this far removed from the announcement of PvE being dropped. So do you have plans to course-correct going forward?

Keller: Yeah. When you look back at the history of Overwatch, there are moments where there was more or less lore–where we were developing more or less story for players. And one of the things that we hear from our community–and we’ve been hearing it a lot lately–is that they just want there to be more of that in the game. That it feels like we’re doing less of it.

So I think I’m actually really excited for the Wuyang hero trailer to come out and for people to get a glimpse at that hero and maybe how they tie into the bigger, broader universe. It’s something that I can’t really go into a lot right now, but I’m excited for players to be able to get in touch with more lore over the coming seasons this year.

Based on that, do you plan on having more heroes come from similar factions or the same countries? I know that, for a while there, there was more avoidance since you’re trying to represent a lot of different backgrounds. But at the same time–and with the lack of PvE–do you find yourself thinking “Well actually let’s add this person’s best friend and have more storytelling through voice lines?” Or “Let’s try to add folks from the same factions.”

Dawson: Yeah, there’s a delicate balance to it. We don’t want to make it feel like heroes are appearing out of nowhere and like [players always have] this brand-new thing to learn. I think we’ve created a universe over quite some time that is very rich with tons of different characters from different factions, and we want to lean into that more and more.

Even some of the things you saw in the Freya story trailer earlier this year link back to some of the things we’ve already built in the world. We want to make sure that we’re pulling from that world because there are characters that people have only gotten glimpses of, that they love, or that could end up as heroes one day.

Keller: As far as where our heroes hail from, we do still like to spread heroes out across like all over the globe. That’s a really important value that we’ve got. We do like our heroes to feel like they represent Earth, but not in the strictest sense. We don’t have 40% of our heroes from China and India, which is maybe what a true representation of the global population would be.

Has the team considered any other avenues for more large-scale storytelling? I’m sure you see the success of series like Arcane and Castlevania on Netflix, and I wonder if that has been something that you’re interested in pursuing.

Keller: The team would love to have something like that come out. You know, we’re also fans of those shows and fans of those universes. To have something like that for Overwatch would be really, really cool. But I can’t really discuss the plans for future stuff like that.

I completely understand. I just ask because it’s something that I want to manifest into the universe. But on the subject of Overwatch’s story–and now that we’re a little bit more removed from what happened–do you want to go into a little bit more detail on why things didn’t really work out with story missions?

Keller: I know Blizzard holds their cards kind of close to their chests sometimes. But I don’t think we really saw the critical success that we wanted and it forced us to really analyze where we were putting our time and resources. At the end of the day, what we’ve been telling our players is that we want to make the game that they want to play. And the game that our players have been playing is this competitive, PvP-focused hero shooter. We really realized that that was the game that we needed to invest our time into.

Following the release of our sole campaign, we did a really big pivot internally on the team. We wanted to focus on what it means to be a best-in-class hero shooter. What are the competitive systems that we need in order to do that? What are some of the other systems?

In the year since that, we’ve focused on evolving the game our players play–on how we turn it into the best version of Overwatch it can be. That’s why we started doing these much bigger systems, like Perks and Stadium. Now that we’ve corrected the course, it gives us the opportunity to make bigger steps with the game. And some of those are things that players are asking for, but then some of them are really big surprises. That’s the future for Overwatch right now.

The above interview has been lightly edited for clarity, readability, and brevity.



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August 26, 2025 0 comments
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Helene Braun
Crypto Trends

ETHZilla (ETHZ) Shares Plunge Nearly 30% as Dilution Fears Overshadow $349M Ether (ETH) Treasury

by admin August 23, 2025



Shares of ETHZilla (ETHZ), formerly known as biotech firm 180 Life Science, fell nearly 30% Friday after the company disclosed that shareholders filed to offer up to 74.8 million convertible shares.

The offering sparked concerns about dilution, a process where existing shareholders’ stakes lose value as more stock enters the market. For investors, it means their ownership slice shrinks, even if the company’s overall value doesn’t change.

After the issuance of new shares, the outstanding shares of the company will rise by about 46% to 239.3 million from 164.4 million, according to the filing. The company won’t receive any proceeds from the shareholders selling their converted shares.

ETHZilla rebranded earlier this month into a crypto treasury company and disclosed that it holds 82,186 ether, worth about $349 million at current prices, alongside $238 million in cash equivalents. The ether was acquired at an average price of $3,806.71 per token. News of the pivot and the size of the holdings sent shares surging on Aug. 11, lifting the stock 80% year-to-date before Friday’s sharp reversal.

The strategic shift has also drawn heavyweight backers.

Peter Thiel, who has publicly supported Ethereum, holds a 7.5% stake in ETHZ through his Founders Fund. The fund also owns 9.1% of Bitmine Immersion Technologies, which recently raised $250 million to build its own ether reserves. Thiel’s involvement highlights a broader bet by influential investors that Ethereum could anchor the next generation of financial infrastructure.

Ether itself has regained momentum in 2025 after lagging behind other altcoins last year. The token is up 38% year-to-date, outpacing bitcoin’s 24% rise and the CoinDesk 20 Index’s 17% gain. For context, bitcoin climbed 121% in 2024 while ether added just 31%. The turnaround coincides with regulatory clarity in the U.S. that has prompted Wall Street institutions to adopt Ethereum as a base layer for launching new financial products and services.

Despite the surge in price and interest from investors, ETHZ shares moved against the broader trend on Friday. The Nasdaq, S&P 500 and Dow were all higher after remarks from Federal Reserve Chair Jerome Powell, while ether itself gained 9% in the past 24 hours.

The selloff underscores the tension between ETHZ’s promise as a large publicly traded ether treasury and investor unease about near-term dilution. While the company’s balance sheet puts it among the biggest ether holders in the corporate world, shareholders are weighing whether that promise can outweigh the risks of being cut into smaller pieces.



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August 23, 2025 0 comments
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NFT Gaming

Why VivoPower Wants Ripple Shares at a Discount to Its XRP Holdings

by admin August 21, 2025



In brief

  • Ripple’s shares trade at a discount to its XRP holdings
  • VivoPower is trying to buy them for discounted XRP exposure.
  • The shares aren’t owned by Ripple itself, a person familiar with the matter said.

Ripple owns billions of dollars worth of XRP, but company shares trading on private secondary markets don’t fully reflect that, according to VivoPower advisory board member Adam Traidman.

As a private company, Ripple’s shares have less liquidity than they would on a stock exchange, so the company’s share price is primarily determined across individualized deals—often at a discount to the value of Ripple’s unmatched XRP holdings—he told Decrypt on Tuesday.

“It has historically been really challenging for Ripple to keep great employees because there is no liquidity,” said Traidman, who previously served on Ripple’s board of directors and as CEO of SBI Ripple Asia, a joint venture with the Japanese financial conglomerate SBI Holdings.

Ripple shares do have liquidity on private markets like Forge. But they are limited to accredited investors. Ripple shares changed hands around $114 on Tuesday, but it can take up to 60 days for trades to be completed, depending on the negotiating process.

Decrypt reached out to Ripple for comment.



Tender offers from Ripple have also provided its current and former employees with some degree of liquidity in the past, but with digital asset treasury firms being established for nearly every popular cryptocurrency—from Dogecoin to Tron—VivoPower has recently emerged as another potential buyer, seeking Ripple equity as a way to augment its XRP-buying strategy.

On Thursday, VivoPower shares fell to around $5.26, according to Yahoo Finance. The Nasdaq-listed firm’s share price has rallied nearly 300% year-to-date; however, the company’s stock has struggled to surpass a recent high of $8.88 in late May.

The company said earlier this month that it is acquiring $100 million worth of privately held Ripple shares at a $19 billion valuation. Without considering the value of Ripple’s business or RLUSD stablecoin, VivoPower said the deal would effectively give it exposure to XRP at an 86% discount compared to the cryptocurrency’s current market price.

Ripple didn’t pay a dime for its XRP stockpile, but based on the company’s valuation, VivoPower said that it would effectively be buying XRP at $0.47 per token at the time.

Ripple-linked wallets controlled roughly 42 billion XRP on Thursday, according to XRP Scan. On paper, those tokens were worth $121 billion, according to crypto data provider CoinGecko.

XRP Ledger co-founders gifted Ripple 80 billion XRP in the network and company’s early days. Most of the remaining funds–totaling 38 billion XRP worth $112 billion, as of October–are held in escrow to “provide predictability to the XRP supply,” according to XRP Ledger’s website.

VivoPower co-founder and Executive Chairman Kevin Chin learned about the opportunity to purchase Ripple shares at a confab in Singapore in June, he told Decrypt. What followed was a nearly two-month period of due diligence, he added.

“Ripple themselves are the largest holders [of XRP], largely in escrow, and demonstrated over more than 10 years that they’re very disciplined in how that gets released into the market,” he said. “So we got very comfortable.”

A person familiar with the matter told Decrypt that the shares that VivoPower is trying to purchase are not owned by Ripple itself.

VivoPower waited until the U.S. Securities and Exchange Commission’s years-long legal battle with Ripple was over before making the deal public. The withdrawal of the SEC’s appeal, and Ripple’s cross-appeal, finalized a $125 million penalty against Ripple earlier this month.

VivoPower estimated this month that its investment in Ripple would reflect exposure to 211 million XRP. VivoPower unveiled its XRP treasury strategy in late May, pivoting away from sustainable energy, but it does not share its XRP holdings on its website.

Traidman said that VivoPower is working on a transparency page to show its XRP holdings that’s “cryptographically provable independently from the XRP ledger,” but acknowledged that may not be possible with Ripple’s shares, if the company is able to buy them.

“That’s not on the blockchain, so we can’t prove it. But at least on the website, we will transparently state how much we have,” he said.

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August 21, 2025 0 comments
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High-resolution image of numerous shiny gold bitcoin tokens stacked together.  (Kanchanara/Unplash)
Crypto Trends

Cathie Wood’s Ark Invest Buys $21.2M of Bullish Shares and $16.2M Robinhood Shares

by admin August 20, 2025



Cathie Wood’s Ark Invest has increased its exposure to crypto exchange operator Bullish (BLSH), with the ARK Innovation ETF (ARKK) now holding 1,165,397 shares valued at roughly $73.85 million, according to the firm’s latest holdings disclosure.

The update comes after Ark added 356,346 Bullish shares to ARKK on Aug. 19, a purchase worth about $21.2 million at the close of trading in New York, when the stock settled at $59.51 at close. The buy builds on Ark’s earlier allocation of more than 2.5 million shares spread across three ETFs on the day of Bullish’s debut.

Bullish is the owner of CoinDesk.

Ark also extended its buying spree in Robinhood (HOOD), purchasing 150,908 shares worth about $16.2 million at Tuesday’s close of $107.50.

Robinhood has become one of Ark’s most consistent crypto-adjacent holdings, with Tuesday’s purchase marking the third straight trading day the firm added to its position, following $14 million in buys on Monday and $9 million on Friday.

Read more: Bullish’s $1.15B in IPO Proceeds Was Entirely in Stablecoins—A First for Public Market



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August 20, 2025 0 comments
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