
November 30, 2021
Record Cash of 18MM and Crypto Assets of 3MM for a total of $21 Million ($0.35 per share) on Balance Sheet
Toronto, Ontario--(Newsfile Corp. - November 30, 2021) - CoinSmart Financial Inc. (NEO: SMRT) (FSE: IIR) ("CoinSmart"), a leading Canadian headquartered crypto asset trading platform, today announced record preliminary unaudited monthly revenue in October 2021 of approximately $1.8 million[1]. This represents a 24% increase compared to September 2021 and was primarily driven by increased trading volume.
October 2021 Highlights:
- Record Monthly Revenue of $1.8MM
- Record Assets Under Management (AUM) of $74MM
- Cash Flow Positive
- Approx $18MM in cash and cash equivalents and $3MM in crypto assets for a total of $21 million ($0.35 per share)[2] as at November 29, 2021
- No debt
CoinSmart CEO Justin Hartzman commented:
"October was a tremendous month for CoinSmart as we achieved record revenue, assets under management and company cash and crypto assets on our balance sheet. This bodes well for Q4 as our team continues to work feverishly to make crypto currency accessible to all."
From time to time the company may report on any new records it achieves on key performance metrics[3].
About CoinSmart
CoinSmart is a leading Canadian-headquartered crypto asset trading platform dedicated to providing customers with an intuitive way for buying and selling digital assets, like Bitcoin and Ethereum. CoinSmart is one of the few crypto asset trading platforms in Canada to be registered as a securities dealer with the Ontario Securities Commission. CoinSmart is also one of the first Canadian headquartered trading platforms to have an international presence, accepting customers across 40+ countries at a time when the digital asset industry continues to rapidly expand.
Cautionary Note Regarding Forward-Looking Information and Other Disclosures
This press release contains statements that constitute "forward-looking information" ("forward-looking information") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking information and are based on expectations, estimates and projections as at the date of this news release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may","could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information. In disclosing the forward-looking information contained in this news release, the Company has made certain assumptions. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, it can give no assurance that the expectations of any forward-looking information will prove to be correct. Known and unknown risks, uncertainties, and other factors may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: regulatory approvals. Accordingly, readers should not place undue reliance on the forward-looking information contained in this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking information to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking information or otherwise.
Financial Outlook
This press release contains a financial outlook within the meaning of applicable Canadian securities laws. The financial outlook has been prepared by management of the Company to provide an outlook for the revenue of CoinSmart during October 2021 and may not be appropriate for any other purpose. The financial outlook has been prepared based on a number of assumptions including the assumptions discussed under the heading "Cautionary Note Regarding Forward-Looking Information and Other Disclosures" above and assumptions with respect to market conditions, pricing, and demand. The actual results of CoinSmart's operations for any period will likely vary from the amounts set forth in these projections and such variations may be material. CoinSmart and its management believe that the financial outlook has been prepared on a reasonable basis. However, because this information is highly subjective and subject to numerous risks, including the risks discussed under the heading "Cautionary Note Regarding Forward-Looking Information and Other Disclosures" above, it should not be relied on as necessarily indicative of future results.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the U.S. Securities Act or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
For further information please contact:
Justin Hartzman
Chief Executive Officer
E-mail:justin@coinsmart.com
Tel.: (647) 923-7678
[1] All figures stated above are preliminary, unaudited and subject to final adjustment.
[2] Based on 60,364,549 shares outstanding as of November 29th,2021
[3] See heading "Financial Outlook".
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
News Provided by Newsfile via QuoteMedia
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15 August
Crypto Market Update: Bitcoin, Ether Values Pull Back as Traders Lock in Gains
Here's a quick recap of the crypto landscape for Monday (August 18) as of 9:00 a.m. UTC.
Get the latest insights on Bitcoin, Ethereum and altcoins, along with a round-up of key cryptocurrency market news.
Bitcoin and Ethereum price update
Bitcoin (BTC) was priced at US$115,446, a 2.5 percent decline in 24 hours. Its lowest valuation of the day was US$114,740, while its highest was US$118,514.
Bitcoin price performance, August 18, 2025.
Chart via TradingView
Bitcoin slipped around 2–3 percent over the past 24 hours amid widespread profit-taking following recent all-time highs and renewed US Producer Price Index data that dampened rate-cut expectations.
Ethereum (ETH) was priced at US$4,330.74, down by 4.6 percent over the past 24 hours. Its highest valuation of the day was $4,563.72 and its lowest valuation was US$4,239.27 at the start of trading.
Altcoin price update
- Solana (SOL) was priced at US$182.12, down by 5.6 percent over 24 hours. Its lowest valuation of the day was US$180.47, while its highest valuation was US$195.10.
- XRP was trading for US$2.99, down 4.3 percent in the past 24 hours. Its lowest valuation of the day was US$2.95, and its highest was US$3.14.
- Sui (SUI) was trading at US$3.57, down by 7.3 percent over the past 24 hours. Its lowest valuation of the day was US$3.53, while its highest was US$3.89.
- Cardano (ADA) was trading at US$0.9089, down 6.6 percent over 24 hours. Its lowest valuation of the day was US$0.8967, while its highest was US$0.9746.
Today's crypto news to know
Bitcoin, Ether, and other crypto stocks cool down after rally week
Bitcoin fell back on Monday (August 18) as traders locked in gains following last week’s record-breaking rally above US$124,000.
The world’s largest cryptocurrency was down about 2 percent to US$115,179, while Ether slipped 3 percent to US$4,335 and XRP declined 4 percent.
The dip follows a sharp run-up fueled by optimism around crypto ETFs and new regulatory developments, including President Donald Trump’s executive order earlier this month permitting retirement accounts like 401(k)s to include digital assets.
Crypto-related equities mirrored the pullback, with shares of mining and crypto firms all down roughly 2 percent in premarket trading. Analysts suggest the selling is a typical retracement after a parabolic move and may signal rotation from spot crypto to other risk assets.
Gemini, Winklevoss twins files for Nasdaq listing
Gemini, the crypto exchange founded by Cameron and Tyler Winklevoss, has formally filed to go public with plans for a Nasdaq listing under the ticker “GEMI.”
The registration statement, however, did not specify how many shares will be offered or at what price range, leaving those details for later.
Founded in 2014, Gemini says it has processed US$285 billion in lifetime trading volume and custodies over $18 billion in digital assets as of June 30.
In their filing, the twins framed crypto as entering “a new Golden Age,” emphasizing their vision of financial markets moving increasingly on-chain. They described Gemini as a “Super App” for digital assets, offering trading, custody, and broader crypto financial services under one platform.
If successful, Gemini would join Coinbase as one of the few US exchanges to list publicly, offering investors direct equity exposure to crypto market infrastructure.
Amdax unveils Bitcoin treasury firm, plans Euronext Amsterdam Listing
Amsterdam-based Amdax announced plans to list a new Bitcoin treasury firm, Amsterdam Bitcoin Treasury Strategy (AMBTS), on the Euronext Amsterdam exchange.
The company says the goal is to create a vehicle that holds Bitcoin long-term on behalf of institutional and private investors, reflecting growing corporate adoption of digital reserves.
CEO Lucas Wensing noted that more than 10 percent of Bitcoin’s supply is already held by corporations, governments, and institutions, suggesting a structural shift in how the asset is used.
Bitcoin’s rally of 32 percent in 2025, alongside pro-crypto regulatory momentum following President Donald Trump’s election, has reinforced the case for such vehicles. AMBTS plans to raise capital in a private round before listing, with a long-term target of accumulating at least 1 percent of total Bitcoin supply.
The move could make Euronext Amsterdam a more prominent hub for European digital asset investment products, challenging London and Frankfurt.
Don't forget to follow us @INN_Technology for real-time news updates!
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
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13 August
Crypto Market Update: World Liberty Announces US$1.5 Billion Crypto Treasury, Bullish Surges on IPO
Here's a quick recap of the crypto landscape for Wednesday (August 13) as of 9:00 p.m. UTC.
Get the latest insights on Bitcoin, Ethereum and altcoins, along with a round-up of key cryptocurrency market news.
Bitcoin and Ethereum price update
Bitcoin (BTC) was priced at US$122,444, up by 2.6 percent over the last 24 hours, and its highest valuation of the day. It briefly dropped to its lowest valuation of $120,414 shortly after the opening bell.
Bitcoin has found itself at the crossroads of macroeconomic data, political influence and shifting capital flows. US inflation statistics and global central bank dynamics have introduced caution, while stablecoin activity and institutional appetite are hinting at a redistribution into altcoins.
Bitcoin price performance, August 13, 2025.
Chart via TradingView.
Meanwhile, Ethereum (ETH) continued to rally, up by 4.5 percent to US$4,716.60. The cryptocurrency's lowest valuation on Wednesday was US$4,638.43, and its highest was US$4,738.59.
Glassnode notes that ETH is a bellwether for altcoins, and its current move as capital continues to flow into exchange-traded funds suggests further upside. In an X post on Wednesday, Charles Edwards, founder of crypto quantitative digital asset fund Capriole Investments, shared data showing that 75 percent of Coinbase Global's (NASDAQ:COIN) volume came from institutional players on Tuesday (August 12).
He also pointed to the outlook for interest rates following the release of July inflation data.
Altcoin price update
- Solana (SOL) was priced at US$200.74, up by 6.1 percent over 24 hours, and its highest valuation of the day. Its lowest valuation was US$195.81.
- XRP was trading for US$3.27, up 0.1 percent in the past 24 hours and at its highest valuation of the day. Its lowest was US$3.24.
- Sui (SUI) was trading at US$3.99, up by 2.3 percent over the past 24 hours, and its highest valuation of the day. Its lowest level was US$3.93.
- Cardano (ADA) was trading at US$0.8827, up by 4.6 percent over 24 hours, and its highest valuation on Wednesday. Its lowest was US$0.866.
Today's crypto news to know
World Liberty Financial sets up US$1.5 billion crypto treasury
World Liberty Financial, a digital asset venture backed by US President Donald Trump and his sons, has announced plans to establish a US$1.5 billion “crypto treasury” in partnership with ALT5 Sigma (NASDAQ:ALTS).
Under the deal, ALT5 will raise US$1.5 billion through the sale of its own shares. The funds will go toward the purchase of World Liberty's in-house token, $WLFI, and will also be used to settle litigation, pay down debt and for other corporate uses. ALT5 will ultimately hold about 7.5 percent of existing $WLFI tokens.
Unnamed institutional investors and venture capital firms participated in the share sale. Crypto treasury models have grown in popularity this year amid a friendlier US regulatory stance under the Trump administration.
The project’s leadership is heavily tied to the Trump family, with Trump himself listed as “co-founder emeritus,” and Eric, Donald Jr. and Barron Trump holding co-founder titles.
As part of the arrangement, Eric Trump will join ALT5’s board and Zach Witkoff will serve as its chair.
Bullish shares surge on NYSE debut
Bullish (NYSE:BLSH), the parent company of Bullish Exchange and CoinDesk, began trading on the New York Stock Exchange on Wednesday. Shares were priced at US$37 each, an increase from an earlier target of US$33, with 30 million on offer to raise US$1.1 billion and value the company at nearly US$5.4 billion.
Shares surged as much as 218 percent to reach US$118 on trading volume of roughly 38 million shares, before pulling back to close at US$70.65. The initial public offering pushed the company’s market cap above US$10 billion.
Banking groups push for stablecoin loophole closure
US banking groups, led by the Bank Policy Institute, are urging Congress to close a loophole that allows stablecoin issuers to indirectly offer yields through affiliates. They argue that while new stablecoin laws prevent issuers from directly offering yield, they don't prohibit crypto exchanges or affiliated businesses from doing so.
The groups contend that this circumvents the law and could lead to a US$6.6 trillion outflow of deposits from traditional banks, potentially disrupting credit flow to American businesses and families.
Banks are concerned that yield-bearing stablecoins undermine their ability to attract deposits, which are crucial for backing loans. The offering of yield is a significant marketing draw for stablecoins, with some, like USDC, already rewarding holders on exchanges such as Kraken and Coinbase.
Safe harbor programs proposed for DeFi
In a Wednesday letter, Andreessen Horowitz (a16z) and the DeFi Education Fund asked the US Securities and Exchange Commission (SEC) and Hester Peirce, head of the commission's Crypto Task Force, to set up a safe harbor program from broker-dealer registration requirements for non-fungible token (NFT) and DeFi applications.
The group said the letter was a follow up to Trump's Working Group on Digital Assets, which called on the SEC to give certain DeFi service providers relief from registration provisions under the Exchange Act, specifically those related to broker-dealers, exchanges and clearing agencies. SEC Chair Paul Atkins also directed staff to update “antiquated agency rules and regulations” for certain crypto and blockchain applications in July.
To avoid enforcement actions, a safe harbor provision would exempt some companies that offer crypto-related products and services from enforcement actions. a16z has sent two previous letters to the commission this year recommending safe harbors for NFTs, airdrops and network tokens.
Don't forget to follow us @INN_Technology for real-time news updates!
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
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11 August
15 Canadian Crypto ETFs in 2025
While directly holding cryptocurrencies like Bitcoin and Ethereum is a popular option, investors looking for alternatives are clamoring for financial products such as crypto exchange-traded funds (ETFs).
Canada first launched Bitcoin and Ethereum ETFs in 2021. These Canadian Bitcoin and Ethereum ETFs allow investors to place returns in tax-sheltered accounts like tax-free savings accounts or registered retirement savings plans.
“There is a high demand for a Bitcoin product that has all the features that people love about ETFs — that they trade on an exchange, that they’re liquid,” Ross Mayfield, investment strategy analyst at Robert W. Baird & Co., told Bloomberg in mid-2021.
Interest has only increased since then. In the US, Bitcoin ETFs' net assets surpassed US$100 billion in November 2024, gaining ground on US gold ETFs. Sean Farrell, head of digital asset strategy at Fundstrat, wrote in mid-2023 that the Bitcoin ETF category at large has the potential to surpass the precious metals ETF market in terms of asset value.
"Bitcoin ETF eventually could become >$300 billion category," he said in the note.
Ethereum ETFs have also become a major talking point. Ethereum is the most widely used blockchain technology, and Ether, the digital currency of this platform, is the second largest cryptocurrency after Bitcoin.
In Q2 2025, Canadian ETF firms officially launched North America's first Solana and XRP spot ETFs, offering investors exposure to the significant altcoins. The launch of XRP ETFs by Canadian firms comes amid increased clarity regarding XRP's regulatory status in the US.
With that in mind, it’s worth taking a look at the currently available Canadian cryptocurrency ETFs.
The list below includes the biggest 15 crypto ETFs available on the Canadian market sorted by assets under management, and all data presented is current as of July 29, 2025.
1. Purpose Bitcoin ETF (TSX:BTCC)
Assets under management: C$1.66 billion
Billed as the world's first physically settled Bitcoin ETF, the Purpose Bitcoin ETF launched in February 2021 and is backed by Bitcoin in cold storage. This means the fund allows investors to add and sell Bitcoin with no digital wallet required.
Hosted by Canadian investment company Purpose Investments, the Purpose Bitcoin ETF is backed by 21101.367791 Bitcoins and has a management expense ratio of 1.5 percent.
2. CI Galaxy Bitcoin ETF (TSX:BTCX.B)
Assets under management: C$1.44 billion
Launched in March 2021, the CI Galaxy Bitcoin ETF was born out of a partnership between cryptocurrency leaders Galaxy Fund Management and CI Global Asset Management. Galaxy Fund Management is part of Galaxy Digital, a diversified financial services firm with a focus on digital assets and the blockchain technology sector.
The ETF's objective is to give investors exposure to Bitcoin via an institutional-quality fund platform, as its holdings are wholly Bitcoin and are kept in cold storage. At 0.4 percent, this fund boasts one of the lowest management fees of all the crypto funds on the market.
3. Fidelity Advantage Bitcoin ETF (TSX:FBTC)
Assets under management: C$1.43 billion
The Fidelity Advantage Bitcoin ETF, launched in November 2021. It offers the security of Fidelity’s in-house cold storage services for its holdings.
While it previously had a management fee of 0.39 percent, the Fidelity Advantage Bitcoin ETF lowered it in January 2025 to an ultra-low management fee of 0.32 percent.
4. CI Galaxy Ethereum ETF (TSX:ETHX.U)
Assets under management: C$693.52 million
The CI Galaxy Ethereum ETF, another collaboration between CI and Galaxy, offers investors exposure to the spot Ethereum price through Ether holdings in cold storage.
The fund launched on April 20, 2021, the same day as two of the other Ether ETFs on this list.
At the time, CI Global Asset Management suggested that “owning Ether is similar to owning a basket of early-stage, high-growth technology stocks.”
The CI Galaxy Ethereum ETF also has a notably low management fee of just 0.4 percent.
5. Evolve Bitcoin ETF (TSX:EBIT)
Assets under management: C$267.64 million
Evolve ETFs partnered with cryptocurrency experts, including Gemini Trust Company, CF Benchmarks, Cidel Bank & Trust and CIBC Mellon Global Services, to launch the Evolve Bitcoin ETF. The fund, which holds its own Bitcoin, has a management fee of 0.75 percent.
Launched a week after the Purpose Bitcoin ETF, its holdings of Bitcoin are priced based on the CME CF Bitcoin Reference Rate, a once-a-day benchmark index price for Bitcoin denominated in US dollars.
6. Purpose Ether ETF (TSX:ETHH)
Assets under management: C$235.71 million
The Purpose Ether ETF is a direct-custody Ether ETF that launched on April 20, 2021. This fund holds 95349.491491 Ether, which it stores in cold storage.
The Purpose Ether ETF offers investors exposure to the daily price movements of physically settled Ether tokens with a management fee of 1 percent.
7. 3iQ Solana Staking ETF (TSX:SOLQ)
Assets under management: C$203.25 million
The 3iQ Solana Staking ETF is designed to provide investors with a user-friendly and secure way to gain exposure to SOL and earn passive rewards through staking. Its launch quickly garnered significant assets under management and attracted investments from SkyBridge Capital and two of ARK Invest's ETFs.
For the first 12 months after its April 16, 2025, launch, the ETF features a 0 percent management fee. After this initial period, the management fee will be 0.15 percent.
8. Purpose Bitcoin Yield ETF (TSX:BTCY)
Assets under management: C$130.48 million
The Purpose Bitcoin Yield ETF uses a covered call strategy to generate yield for investors, which involves writing call options on Bitcoin. Call options give the buyer an option to purchase an asset at a specific price on or before a specific date.
Its structure allows the fund to earn income from option premiums while providing investors with exposure to Bitcoin's price movements. Its distributions are paid monthly.
9. Evolve Ether ETF (TSX:ETHR)
Assets under management: C$96.58 million
The Evolve Ether ETF offers investors an easier route to investing in Ether. The fund’s holdings of Ether are priced based on the CME CF Ether-Dollar Reference Rate, a once-a-day benchmark index price for Ether denominated in US dollars.
As with the Evolve Bitcoin ETF, the Evolve Ether ETF has a management fee of 0.75 percent.
10. Evolve Cryptocurrencies ETF (TSX:ETC)
Assets under management: C$86.15 million
The Evolve Cryptocurrencies ETF launched in September 2021 as the first multi-cryptocurrency ETF, providing combined exposure to both Bitcoin and Ether. Its holdings have since expanded to include XRP and Solana.
This product from Evolve ETFs allows investors to diversify their crypto portfolios and provides indirect exposure to the four coins, weighing them by market capitalization and rebalancing its holdings on a monthly basis. Bitcoin makes up the majority of its portfolio.
While this ETF has no management fee, the underlying funds that hold both Bitcoin and Ether have management fees of 0.75 percent plus applicable taxes.
11. Purpose Ether Yield ETF (TSX:ETHY)
Assets under management: C$78.98 million
Like the Purpose Bitcoin Yield ETF, the Purpose Ether Yield ETF offers investors an opportunity to invest in Ether while also generating yield. Purpose Investments lends a portion of its Ether holdings to institutional borrowers and earns interest on those loans.
Investors who purchase shares of this ETF receive a portion of the interest earned in monthly distributions.
12. Purpose XRP ETF (TSX:XRPP)
Assets under management: C$72.12 million
The Purpose XRP ETF started trading on the Toronto Stock Exchange on June 18, 2025, as part of the launch of Canada's first XRP ETFs. The fund invests directly in XRP, offering investors access to the XRP spot price.
The new asset is offering a 0 percent management fee through February 2026, after which time it will have a management fee of 0.69 percent.
13. Fidelity Advantage Ether ETF (TSX:FETH)
Assets under management: C$71.59 million
Following the successful launch of its Bitcoin fund, Fidelity brought its Advantage Ether ETF to market in September 2022, making this the newest Ether ETF in Canada. Its holdings are stored in Fidelity's in-house cold storage.
The Fidelity Advantage Ether ETF has a management fee of 0.4 percent.
14. Evolve XRP ETF (TSX:XRP)
Assets under management: C$50.28 million
The Evolve XRP ETF is passively managed, aiming to track the price of XRP without engaging in active trading strategies or derivatives overlays such as covered calls. Its goal is to provide straightforward exposure to XRP's price movements.
The management fee for the Evolve XRP ETF is 0.75 percent. This was reduced from an initial 1.00 percent effective June 18, 2025, to make it more competitive.
15. Ninepoint Crypto and AI Leaders ETF (TSX:TKN)
Assets under management: C$34.73 million
Previously named the Ninepoint Web3 Innovators Fund, the Ninepoint Crypto and AI Leaders ETF aims to provide a more diversified exposure to the digital asset and emerging tech space compared to holding a single cryptocurrency.
Instead of investing directly in crypto assets like the other ETFs on this list, the fund invests in a diversified portfolio primarily focused on AI and crypto companies and crypto ETFs. Among its crypto ETF holdings, which make up 25 percent of its portfolio, are several of the Bitcoin, Ether and Solana ETFs on this list.
This is an updated version of an article first published by the Investing News Network in 2021.
Don’t forget to follow us @INN_Technology for real-time news updates!
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
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11 August
Crypto Market Update: Bullish Targets Upsized US$4.82 Billion IPO Valuation
Here's a quick recap of the crypto landscape for Monday (August 11) as of 9:00 p.m. UTC.
Get the latest insights on Bitcoin, Ethereum and altcoins, along with a round-up of key cryptocurrency market news.
Bitcoin and Ethereum price update
Bitcoin (BTC) was priced at US$118,815, down by 0.1 percent over the last 24 hours and its lowest valuation on Monday. Its highest price for the day was US$120,693.
Bitcoin price performance, August 11, 2025.
Chart via TradingView.
Analyst Omkar Godbole offered a cautious outlook, pointing to lower trading volumes for Bitcoin despite similar prices in July and a Coinbase Global (NASDAQ:COIN) discount suggesting weak US institutional demand.
Ethereum (ETH) has outperformed after a weekend rally.
Ethereum broke past US$4,300 on Monday as FG Nexus announced the acquisition of 47,331 ETH, worth about US$200 million. Meanwhile, data from Etherscan shows rising daily transaction counts over the past several weeks.
Creator coins like ZRO and PUMP also saw gains after announcements like Coinbase's new DEX feature and LayerZero's acquisition. Bondex CEO Ignacio Palomera called these developments an evolution in how creators can monetize their content. US consumer price index data on Tuesday (August 12) could fuel or dampen the crypto rally.
Altcoin price update
- Solana (SOL) was priced at US$176.39, down by 3.6 percent over 24 hours and its lowest valuation for the day. Its highest price was US$180.86.
- XRP was trading for US$3.16, down 1.7 percent in the past 24 hours and at its lowest valuation of the day. Its highest was US$3.22.
- Sui (SUI) was trading at US$3.69, down by 5 percent over the past 24 hours, and its lowest valuation of the day. Its highest level was US$3.77.
- Cardano (ADA) was trading at US$0.783, down by 3 percent over 24 hours and its lowest valuation on Monday. Its highest was US$0.8008.
Today's crypto news to know
Bullish aims for US$4.82 billion valuation in upsized IPO
Bullish has increased the size of its planned initial public offering (IPO), targeting a valuation of up to US$4.82 billion. It plans to raise as much as US$990 million by selling 30 million shares priced between US$32 and US$33 each, a higher range than its previous filing, but still below its US$9 billion target in a failed 2021 SPAC merger.
The cryptocurrency exchange said it will convert a significant portion of its IPO proceeds into US-dollar-backed stablecoins through partnerships with token issuers. BlackRock-managed funds and Cathie Wood’s ARK Investment have shown interest in purchasing up to US$200 million worth of shares.
Bullish is expected to price the offering on Tuesday and debut on the NYSE under the ticker “FLY” the next day.
Tether and Rumble propose joint acquisition of Northern Data
Tether and Rumble (NASDAQ:RUM) have proposed to jointly acquire all shares of artificial intelligence infrastructure company Northern Data, according to a press release issued on Monday.
According to the proposed terms, USDt issuer Tether, already Northern Data’s largest shareholder, would support the transaction, which would see each Northern Data shareholder receive 2.319 newly issued Class A Rumble shares for each Northern Data share offered, leading to roughly 33.3 percent of Rumble ownership being transferred to Northern Data shareholders. The final exchange ratio may be adjusted for the potential sale of Peak Mining and a related debt reduction, which would increase the exchange ratio.
Subject to definitive documentation, Tether would also significantly increase its investment in Rumble, becoming a key customer with a multi-year GPU purchase commitment.
Chainlink to partner with ICE
Blockchain oracle platform Chainlink announced a partnership with US-based Fortune 500 company Intercontinental Exchange (NYSE:ICE) on Monday to bring foreign exchange and precious metals data onchain.
The collaboration will unite Intercontinental's consolidated feed, an aggregator of market data from over 300 global exchanges and marketplaces, with Chainlink Data Streams’ derived data sets, which provide market information to power tokenization for over 2,000 decentralized applications and major financial institutions.
This partnership is the latest move to further integrate traditional market infrastructure with blockchain systems.
El Salvador targets wealthy investors with new Bitcoin banking law
El Salvador has approved a new investment banking law designed to attract institutional and high-net-worth crypto investors. Licensed investment banks with at least US$50 million in capital will be able to provide Bitcoin and other digital asset services, but only to clients meeting “sophisticated investor” criteria.
Requirements include at least US$250,000 in liquid assets and advanced financial knowledge.
The banks will be allowed to issue bonds, structure public-private projects and offer digital asset products. Lawmakers say the changes aim to position the country as a regional financial hub and draw in foreign private capital.
The move comes as President Nayib Bukele consolidates political power through constitutional reforms extending presidential terms and removing term limits.
Blue Origin to accept crypto payments for space flights
According to a Monday press release, Jeff Bezos’ Blue Origin has partnered with payment processing company Shift4 Payments (NYSE:FOUR) to allow customers to buy tickets to outer space using crypto and stablecoins.
Trips will take place on Blue Origin’s New Shepard reusable rockets, and direct payments will now be accepted from popular wallets from the likes of MetaMask and Coinbase.
“Our mission has always been to revolutionize commerce by simplifying the transaction process, and we’re thrilled to now extend that vision beyond Earth,” said Taylor Lauber, CEO of Shift4.
“This partnership will enable adventurous travelers to book the adventure of a lifetime, no matter their preferred payment method — all with a simple, frictionless experience," he added. Blue Origin has flown more than 75 passengers past the Kármán Line, the boundary separating Earth’s atmosphere and space.
“We believe crypto and stablecoins are going to become an increasingly popular way for consumers to pay, particularly for high-end purchases, as both the consumer and merchant benefit financially from these transactions,” commented Alex Wilson, head of crypto at Shift4.
Don't forget to follow us @INN_Technology for real-time news updates!
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
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08 August
Crypto Market Update: Trump Orders 401(k) Crypto Review, ETH Treasury Vehicle Files to Raise Billions
Here's a quick recap of the crypto landscape for Friday (August 8) as of 9:00 p.m. UTC.
Get the latest insights on Bitcoin, Ethereum and altcoins, along with a round-up of key cryptocurrency market news.
Bitcoin and Ethereum price update
Bitcoin (BTC) was priced at US$116,454, down by 0.8 percent over the last 24 hours. Its lowest valuation on Friday was US$115,979, while its highest valuation was US$117,038.
Bitcoin price performance, August 8, 2025.
Chart via TradingView.
An executive order from the Trump administration about the addition of cryptocurrency investment options to federally regulated 401(k) retirement plans could trigger an influx of new capital and drive up Bitcoin's price.
Separately, over US$1 billion in Bitcoin call options are set to activate if Bitcoin hits US$200,000 on December 26, when US$8.8 billion in options are set to expire; however, experts believe the presence of these call options reflects strategic positioning rather than a widespread belief in a year-end surge to that level. Cointelegraph analyst Marcel Pechman notes that pro traders are using far-out-of-the-money calls in structured strategies like diagonal spreads and inverse butterflies to manage risk and seek asymmetric upside, not as direct bets on extreme price targets.
Ethereum (ETH) was priced at US$4,053, up by 4.9 percent over the past 24 hours and its highest valuation of the day. Its lowest valuation on Friday was US$3,910 at the start of trading.
Altcoin price update
- Solana (SOL) was priced at US$178.05, up by 3.8 percent over 24 hours. Its lowest valuation on Friday was US$174.86, and its highest was US$179.36.
- XRP was trading for US$3.30, up by 6.6 percent in the past 24 hours. Its lowest valuation of the day was US$3.22, and its highest price was US$3.35.
- Sui (SUI) was trading at US$3.85, up 3.1 percent over the past 24 hours. Its lowest valuation of the day was US$3.73, and its highest was US$3.86.
- Cardano (ADA) was trading at US$0.7964, up by 4.2 percent over 24 hours. Its lowest valuation on Friday was US$0.7787, and its highest was US$0.8022.
Today's crypto news to know
Trump order opens door for crypto and private equity in 401(k)s
US President Donald Trump has signed an executive order directing the Department of Labor to review its fiduciary rules for retirement plans, potentially clearing the way for assets like cryptocurrencies, private equity and real estate to be included in 401(k)s. While no laws have changed, the move signals a potential shift from the Biden era.
The Employee Retirement Income Security Act still requires fiduciaries to choose “prudent” investments, meaning employers will need to justify the inclusion of volatile or opaque assets. Legal experts say the order could influence how federal agencies interpret the rules, but it won’t override decades of court precedents on fiduciary duty.
For now, employers remain cautious due to the risk of lawsuits over imprudent or overly expensive options. Crypto in 401(k)s remains rare, though large firms like BlackRock are already exploring target-date funds with alternative assets.
SEC and Ripple dismiss appeals, ending lawsuit
Ripple and the US Securities and Exchange Commission (SEC) have dismissed their respective appeals, effectively ending a five-year lawsuit, as per a brief filing on Thursday (August 7) with the Court of Appeals for the Second Circuit.
“Following the Commission’s vote today, the SEC and Ripple formally filed directly with the Second Circuit to dismiss their appeals,” Ripple’s chief legal officer, Stuart Alderoty, wrote on X.
The SEC sued Ripple in 2020 for selling XRP as an unregistered security. A July 2023 ruling by Judge Analisa Torres found XRP was not a security when sold on public exchanges, but was when sold to institutional investors.
The SEC appealed, and Ripple cross appealed. However, this past April, both parties filed a joint motion to pause their appeals, hinting at a settlement. They settled in May, asking Torres to dissolve the injunction and lower the US$125 million fine. She denied that in June, stating that Ripple must still follow federal securities laws.
Following the announcement, open interest in XRP grew by over 15 percent in 24 hours and futures volumes rose by over 233 percent, according to Coinglass data.
Parataxis to go public via SPAC merger
Bitcoin asset manager Parataxis announced its plan to go public by merging with a special purpose acquisition company (SPAC) called SilverBox Corp. IV on Wednesday (August 6).
The deal aims to raise up to US$640 million to “support acceleration of digital asset purchases and support long-term strategy." It implies a total pro forma equity value of up to US$800 million for the combined company, assuming the US$10 share price and no redemptions. The new public company will be named Parataxis Holdings and will trade on the New York Stock Exchange under the ticker symbol “PRTX.”
The company's goal is to launch a yield-enhanced Bitcoin treasury strategy in the US and South Korea. The deal also includes an equity line of credit to raise additional funds. This will allow it to continue accumulating Bitcoin.
The company has already allocated US$31 million for an initial Bitcoin purchase.
Fundamental Global files to raise funds for ETH accumulation
Fundamental Global (NASDAQ: FGF), a new Ethereum treasury vehicle, has filed to raise US$5 billion, signaling the potential emergence of a new mega whale in the Ethereum market.
According to a Friday press release, the company aims to use the majority of the proceeds from a potential US$4 billion common stock offering to acquire a 10 percent stake in the Ethereum network.
“This US$5 billion shelf filing represents a significant step in our capital raising capabilities and positions us to move with speed and scale when capital deployment opportunities arise,” said CEO and Chairman Kyle Cerminara.
“We believe this framework will enable us to capitalize on ETH accumulation opportunities and support our target of a 10 percent stake in the Ethereum Network," he added.
Binance partners with Spain’s BBVA to bolster asset security
Binance is teaming up with Banco Bilbao Vizcaya Argentaria (BBVA), Spain’s second largest bank, to give customers the option of storing their assets with a regulated custodian rather than directly on the exchange.
The arrangement is designed to reassure investors after Binance’s US$4.3 billion fine from US regulators in 2023 over anti-money laundering failures. With BBVA acting as an independent custodian, customer funds would remain secure even if Binance faced hacking, insolvency or further regulatory action.
The partnership leverages BBVA’s strong reputation for compliance and innovation, aiming to encourage more cautious investors to engage with crypto. The move also follows leadership changes at Binance, including founder Changpeng Zhao’s resignation and brief prison sentence, as the company works to repair its image.
Don't forget to follow us @INN_Technology for real-time news updates!
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
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06 August
Crypto Market Update: Bitcoin ETFs Shed US$1.46 Billion Amid Stagflation Jitters
Here's a quick recap of the crypto landscape for Wednesday (August 6) as of 9:00 a.m. UTC.
Get the latest insights on Bitcoin, Ethereum and altcoins, along with a round-up of key cryptocurrency market news.
Bitcoin and Ethereum price update
Bitcoin (BTC) was priced at US$114,217, down by 0.8 percent over the last 24 hours. Its highest valuation on Wednesday was US$112,770, while its lowest valuation was US$114,830.
Bitcoin price performance, August 6, 2025.
Chart via TradingView.
Bitcoin is showing signs of support between US$117,000 and US$118,000, with technical analysts suggesting a possible rebound toward resistance levels at US$120,250 and beyond, if bullish momentum builds.
However, sentiment remains cautious amid ongoing interest rate uncertainty, macroeconomic pressures and exchange-traded fund (ETF) outflows, all of which are weighing on near-term price action.
Ethereum (ETH) was priced at US$3,619.63, down by 1.4 percent over the past 24 hours. Its lowest valuation on Wednesday was US$3,557.78, and its highest was US$3,673.
Altcoin price update
- Solana (SOL) was priced at US$164.44, down by 3.9 percent over 24 hours. Its lowest valuation on Wednesday was US$161.45, and its highest was US$170.84.
- XRP was trading for US$2.95, down by 3.8 percent in the past 24 hours. Its lowest valuation of the day was US$2.91, and its highest valuation was US$3.06.
- Sui (SUI) is trading at US$3.41, down 4.2 percent over the past 24 hours. Its lowest valuation of the day was US$3.34, and its highest was US$3.55.
- Cardano (ADA) was trading at US$0.7274, down by 3.2 percent over 24 hours. Its lowest valuation on Wednesday was US$0.7117, and its highest was US$0.751.
Today's crypto news to know
Bitcoin ETFs see four days of outflows as stagflation fears ramp up
Spot Bitcoin ETFs in the US recorded net outflows for the fourth day in a row, shedding nearly US$200 million on Tuesday alone. The Fidelity Wise Origin Bitcoin Fund (BATS:FBTC) and iShares Bitcoin Trust ETF (NASDAQ:IBIT) were the biggest sources of withdrawals, contributing to a total outflow of US$1.46 billion since July 31.
The trigger appears to be concerns around stagflation after weaker-than-expected US service sector data.
The ISM Non-Manufacturing Purchasing Managers Index points to slowing growth, declining employment and rising prices, a toxic mix for risk assets like cryptocurrencies and tech stocks.
Meanwhile, bets on US Federal Reserve rate cuts are growing, but uncertainty remains high.
SBI files Japan’s first Bitcoin-XRP ETF application
Japanese financial giant SBI Holdings (TSE:8473) has filed for an ETF that would include both Bitcoin and XRP, aiming to offer regulated dual-crypto exposure in Japan. The proposed product, revealed in SBI’s Q2 earnings report, would allow investors to track the performance of both assets in a single fund, a rare pairing in the global ETF space.
If approved, this would mark the first time XRP is included in a regulated ETF product in Japan, as it continues to face institutional barriers in the US due to its regulatory history.
A second ETF proposal, the Digital Gold Crypto ETF, would blend over 50 percent exposure to traditional gold ETFs with crypto assets backed by gold. This hybrid structure targets more conservative investors looking for crypto upside with commodity stability.
SEC clarifies — liquid staking is not a securities offering
In a major development for the crypto industry, the US Securities and Exchange Commission's (SEC) Division of Corporation Finance said that certain types of liquid staking do not constitute the sale of securities.
Specifically, tokenized staking receipt products, such as staked ETH derivatives, are not considered investment contracts unless they’re bundled into schemes that meet the legal definition. This clarification provides a green light for platforms offering protocol-level staking services without requiring registration. Liquid staking allows users to earn rewards while still being able to trade or use a representative token, maintaining asset flexibility.
Don't forget to follow us @INN_Technology for real-time news updates!
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
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