Bitmine (BMNR) buys 65,341 ETH worth $138 million betting on crypto slump ending

Bitmine Immersion Technologies (BMNR) said Monday it bought 65,341 ether (ETH) last week, extending a recent surge in purchases as the firm continues to lean into the market downturn. The latest acquisition, worth roughly $138 million at current ETH prices, lifted the firm’s total holdings above 4.66 million tokens, cornering 3.86% of ETH’s circulating supply,…

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Stablecoin yield in crypto Clarity Act won’t allow rewards on balances, latest text says

Crypto industry insiders got their first look at the revised market structure bill in the Senate, and the opening impression was that the language on allowable stablecoin yield was overly narrow and unclear, according to a person familiar with the current draft. The new language, which was announced Friday by Senators Angela Alsobrooks and Thom…

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Prediction market boom spurs new VC fund backed by Polymarket, Kalshi CEOs

A new venture capital firm focused on prediction markets is launching with backing from Polymarket founder and CEO Shayne Coplan and Kalshi co-founder and CEO Tarek Mansour, Bloomberg reported. The firm, called 5c(c) Capital (named after a section of the Commodity Exchange Act that governs prediction markets) may be the first venture fund built specifically…

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BTC posts modest Monday gain, remains tied to Middle East developments

Bitcoin BTC$70,830.49 held onto gains Monday after an early surge above $70,000, but the rebound’s fate now hinges on what’s next between the U.S. and Iran. The move followed U.S. President Donald Trump’s announcement of a five-day pause on strikes against Iranian energy infrastructure, citing “productive” diplomatic talks. Iranian officials denied the existence of talks,…

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BlackRock is betting billions that tokenized funds will do for Wall Street what the internet did to mail

BlackRock Chairman and CEO Larry Fink used his annual letter to shareholders to argue that digital assets and tokenization could help update the financial system, even as he warned that the U.S. economic model is leaving too many people behind. In the letter, Fink said the current system has delivered most of its gains to…

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Backpack Exchange launches BP token with 25% airdrop, no insider allocation

Backpack Exchange, a Solana-based cryptocurrency trading platform, launched on Monday its native token, BP, detailing a token generation event (TGE) that includes a mix of user distribution, lockups and a mechanism tied to company equity. At launch, 25% of the token’s 1 billion total supply—around 250 million BP—will be distributed, primarily through an airdrop to…

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