The Block
Quick Take Fold plans to go public via a blank-check company started by SPAC veteran Betsy Cohen. The proposed deal with Nasdaq-listed FTAC Emerald implies a $365 million valuation for the company.
Quick Take Proton, known for its privacy-focused solutions like Proton Mail and Proton VPN, has unveiled a self-custodial Bitcoin wallet solution. Proton Wallet is initially available to early access users ahead of a broader rollout.
Derivatives market sentiment has shifted over the past 24 hours, with bitcoin options traders preparing for further downside, analysts said.Bitcoin sell-pressure is mounting from Mt. Gox creditors using Kraken for redistribution purposes, and the U.S. government sending coins to Coinbase.
Mt. Gox transferred roughly $2.13 billion in bitcoin to an unknown address.The large transfer comes after creditors using Kraken received their payouts to their exchange accounts yesterday.
Riot Platforms has acquired the Kentucky-based bitcoin miner in a bid to boost mining capacity.The acquisition is expected to bring 60 megawatts of capacity on board immediately.
U.S. spot Ethereum ETFs recorded $106.7 million in net inflows on their first trading day, with a total trading volume exceeding $1 billion.Grayscale Ethereum Trust (ETHE) experienced $484.1 million in net outflows, the only fund with outflows.Blackrock’s ETHA led with $266.55 million in net inflows, followed by Bitwise ETHW’s $204 million, Fidelity FETH’s $71.31 million, and Grayscale’s Ethereum Mini Trust with $15.15 million.
Quick Take The Major Payment Institution license would allow it to offer crypto custody and over-the-counter trading services. Hex Trust obtained a full Virtual Asset Service Provider license in Dubai in November 2023.
Marathon Digital led the pack, seeing its market cap jump from $5.51 billion on July 8 to $7.56 billion by the end of the week, a 37% increase in five days.The following is an excerpt from The Block’s Data and Insights newsletter.
Spot Ethereum ETFs begin trading: Here’s what you need to knowBlackRock’s spot Bitcoin ETF posts $527 million in net inflow, largest since mid-MarchMt. Gox moves $2.85 billion worth of bitcoin: ArkhamThe following is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Quick Take The crypto exchange filed a motion to compel SEC Chair Gary Gensler and the SEC to provide documents that Coinbase says are at the heart of its litigation with the agency. The SEC and Coinbase have been embroiled in a lawsuit since last year when the agency sued Coinbase for operating its platform without registering.
