IREN and Kindly MD are raising big money through convertible notes, but traders reacted negatively following each of the companies’ multimillion-dollar deals.
Stephen Katte
Stephen Katte is an Australia based journalist who joined Coinpectra in 2022 as a writer on the Asia-Pacific news desk. He mainly covers crypto crime and regulatory related content. Previously, he wrote gambling related articles for casinos and covered international news with a focus on the United States. He also covered local Australian news with regional papers under the banner of major media company’s Fairfax Media and Nine. He holds a bachelor’s degree in writing from the University of Canberra. Stephen has no crypto holdings above Coinpectra’s disclosure threshold of $1,000.
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Crypto stocks IREN, NAKA struggle amid convertible note deals - News
Canary’s Litecoin, HBAR ETFs ready for ‘go-time’ after gov shutdown: Analysts ETF analyst Eric Balchunas says Canary Capital’s filings for spot Litecoin and HBAR funds are seemingly finalized, but the government shutdown will delay their launch.
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It’s not ‘too late in the game’ to get into crypto: Pantera exec Bitcoin’s frequently rising price may have caused some investors to feel they missed the boat, but Pantera’s Cosmo Jiang says there’s still plenty of room on board.
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EU weighs sanctions on ruble-backed stablecoin A7A5: Report Several banks in Russia, Belarus and Central Asia are also in the EU’s firing line for enabling crypto-related transactions, according to a Bloomberg report.
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Companies spent $1.2B on Bitcoin last week, but BTC ETFs stole the show Bitcoin-stacking companies bought over 6,700 BTC last week, with the majority of the buying coming from Japanese investment firm Metaplanet.
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BNB sets a new all-time high at $1,111 as user metrics fire up Analysts told Coinpectra in July that whales and treasury companies stacking BNB, along with regular token burns, were sending the coin’s price higher.
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Near Foundation is working on an AI ‘digital twin’ for governance votes When the AI delegates rollout, it will be done in stages, with early models similar to chatbots, then a model representing large groups, and finally, each DAO member.
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‘Horse has left the barn:’ ETHZilla bets big on Ethereum’s stablecoin play ETHZilla’s CEO says the Ethereum treasury company plans to work with layer-2 protocols to generate a higher yield than it could get from staking.
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Crypto treasuries may soon start gobbling each other up: Coinbase Coinbase’s head of investment research, David Duong, said companies may soon consider mergers and acquisitions similar to the recent Strive and Semler Scientific deal.
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Sweden eyes entering the Bitcoin ‘digital arms race’ The proposal came from two Swedish Democrats, a party that is a key player in backing the Swedish ruling coalition and its minority government.
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AI agents need crypto to operate in financial markets: Coinbase exec Coinbase’s head of institutional strategy, John D’Agostino, says expecting AI agents to operate in the traditional finance system is akin to streaming using a dial-up modem.
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SEC staff open to advisers using trust companies as crypto custodians The SEC’s Division of Investment Management said it would not recommend enforcement action against advisers that use a state trust company as a crypto custodian.
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BitMine’s Lee calls ETH a ‘discount to the future,’ Bit Digital eyes $100M BitMine chairman Tom Lee thinks Ether is trading at a discount because future adoption of the blockchain by Wall Street and AI companies will drive it higher.
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October is ‘ETF month’ as 16 crypto funds await final decision NovaDius Wealth Management president Nate Geraci said it will be an “enormous next few weeks for spot crypto ETFs" as the SEC is due to decide on 16 applications.
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Bitchat searches, downloads spike in Madagascar amid protests Protests erupted in Madagascar’s capital, Antananarivo, last Thursday over ongoing water and power cuts, with demonstrations later spreading across the country.
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Bitcoin now just one of many ways for retail to onboard to crypto A CoinGecko survey published on Monday found that 10% of respondents have never bought Bitcoin, and only 54% of newcomers started with it in their stash.
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Crypto bill, stablecoins, new ETPs to drive Q4 crypto returns: Analysts Favorable policy shifts, growing ETP access, and stablecoin momentum could be the key themes for the crypto market coming into Q4, analysts told Coinpectra.
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Korean internet giant Naver to acquire Upbit, eyes stablecoins: Report Naver is often called the “Google of South Korea,” and is the top search engine in the country. Upbit Korea is the largest crypto exchange in South Korea.
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Crypto treasury share buybacks could signal a ‘credibility race’ is on Kadan Stadelmann, chief technology officer at Komodo Platform, told Coinpectra that treasury companies are competing to see who can create the most enticing structure.
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Bitcoin to ‘move up smartly again’ toward end of 2025: Saylor Strategy chair Michael Saylor says Bitcoin will gain after “macro headwinds” subside as treasury companies and ETFs put upward pressure on the cryptocurrency.
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CFTC initiative to allow stablecoins as collateral in derivatives markets US Commodity Futures Trading Commission acting chair Caroline Pham said her agency is looking to allow derivatives traders to post stablecoins and tokenized assets as collateral.
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South African ETF issuer cautions investors over its own Bitcoin fund Sygnia CEO Magda Wierzycka says her firm calls investors if they allocate too much into their Life Bitcoin Plus ETF, which launched in June.
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ETHZilla unleashes fresh $350M war chest for Ethereum bets ETHZilla CEO McAndrew Rudisill said the company’s strategy is to deploy Ether on the Ethereum network through layer-2 protocols and tokenizing real-world assets.
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OKX built a perps DEX but held off due to regulatory concerns OKX founder and CEO Star Xu cited the CFTC enforcement action against Deridex in September 2023 as a concern, but didn’t specify if it was why OKX paused its launch.
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Coins for classrooms: CZ raises $1.3M in donations for Giggle Academy The lion’s share of donations has come from trading fees for a newly launched memecoin called $GIGGLE, launched by an X user known as RUNE.
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Bitcoin in consolidation as treasuries eye altcoins: Novogratz Galaxy CEO Mike Novogratz says Bitcoin could surge again as the US Federal Reserve restarts its cutting cycle, with momentum also coming from regulatory reform.
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Metaverse ‘still has a heartbeat’ as NFT sales jump 27% in August DappRadar analyst Sara Gherghelas said the metaverse may not be dead after NFT sales linked to virtual worlds recorded their second consecutive month of heightened activity.
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Russia could consider crypto bank to combat fraud, help miners Evgeny Masharov, a member of the Russian Civic Chamber, says Russia should start a crypto exchange through a major financial institution.
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South Korea crypto firms get ‘venture company’ status next week South Korea’s Minister of SMEs and Startups, Han Seong-sook, said the regulatory change could stimulate growth in crypto and blockchain technologies.
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Crypto traders’ current fear won’t last long, analysts say Analysts tell Coinpectra that Bitcoin reclaiming $117,000 and a Federal Reserve rate cut would be key drivers of positive sentiment.