News & Research

SharpLink Gaming, a Nasdaq-listed company with an Ethereum (ETH)-focused treasury strategy, purchased 21,959 ETH worth $85.46 million over the past four hours, according to Lookonchain on X, citing Arkham data. The company now holds 543,898 ETH valued at $2.12 billion. Earlier, SharpLink completed a $200 million direct public offering and said it would use the entire amount to buy ETH.

A multisignature wallet linked to DeFi yield protocol Pendle deposited 900,000 PENDLE ($4.65 million), to crypto exchange Binance about 30 minutes ago, according to @EmberCN on X. PENDLE is trading at $5.09, up 27.2% in the past 24 hours, according to data from CoinMarketCap.

Jack Dorsey’s payment company Block (formerly Square) increased its Bitcoin (BTC) holdings by 108 BTC in the second quarter, bringing its total to 8,692 BTC, according to crypto investor HODL15Capital on X.

Ryan Rasmussen, a research analyst at crypto asset fund manager Bitwise, wrote on X that as of September 2024, U.S. 401(k) plans hold $8 trillion in assets, with new capital added each week. If crypto captured just 1% of that, it would bring $80 billion into the market, along with a steady ongoing flow. He added that Bloomberg estimates the 401(k) market at $12.5 trillion, which would put 1% at $125 billion. Earlier, U.S. President Donald Trump signed an executive order allowing 401(k) retirement plans to invest in alternative assets such as cryptocurrencies, real estate and private equity.

Nasdaq-listed SharpLink Gaming (SBET) has agreed to raise $200 million through a stock sale to four institutional partners at $19.50 per share, according to The Block. The funds will be used to expand its Ethereum holdings, which are expected to exceed $2 billion in value. The deal is set to close this week.

A trader known as @qwatio on X turned an initial $3 million into $29 million over six months but lost it all after repeated Ethereum (ETH) short positions, ending with a final $475,000 liquidation on decentralized derivatives protocol GMX, on-chain analyst @EmberCN reported on X.

Kraken Exchange announced on its official blog that U.S. customers can now fund their accounts instantly using PayPal, allowing for fast, wire-free USD deposits without sharing bank credentials.

Binance now allows European users to convert crypto to fiat and withdraw funds directly to eligible Mastercard accounts, offering near-instant access through its new “Buy & Sell” service.

Paxos Trust has reached a $48.5 million settlement with the New York Department of Financial Services over anti-money laundering and due diligence failures linked to its partnership with Binance, according to Reuters and Tree News.

Global asset manager ProShares has launched the Ultra CRCL ETF (CRCA), designed to deliver 2x the daily performance of Circle's stock, according to CoinDesk. The ETF began trading shortly after Circle's NYSE debut, during which its shares rose 134%. CRCA targets short-term traders looking to leverage exposure to Circle amid growing USDC adoption and emerging stablecoin regulations.