The Block

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The Block

The first and final word in digital assets

IMF to ‘ensure’ that El Salvador does not buy any more bitcoin
President Bukele has yet to address the IMF's bitcoin purchase restrictions, clouding El Salvador's future bitcoin strategy....

Cetus poses community vote to possibly return 100% of funds to users affected by $223 million exploit
Cetus stated it can use its cash and token reserves, as well as a Sui Foundation loan, to recover stolen assets from its recent exploit — depending on a forthcoming community vote. ...

Circle paid $100 million for Hashnote, used mostly shares, IPO filings reveal
The stablecoin issuer forked over $9.9 million in cash and approximately 2.9 million fully-vested common shares....

MetaMask co-founder Dan Finlay unpacks vision for reaching ‘much bigger audience’
MetaMask co-founder Dan Finlay discusses his firm's strategy to build for a "much bigger audience" and reach new users....

The Daily: Trump Media plots $2.5 billion corporate bitcoin treasury, Cobie’s ICO platform Sonar goes live, and more
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons....

Cantor closes first Bitcoin financing deals with Maple and FalconX
The Wall Street firm plans to initially make available up to $2 billion in financing for institutional clients....

Cobie’s ICO platform Sonar goes live with Plasma seeking $50 million at $500 million token valuation
Cobie's Echo has launched Sonar, a new ICO platform, with Plasma as its first project, which is offering 10% of its XPL token supply....

Trump Media establishes corporate bitcoin treasury with $2.5 billion offering
The $2.5 billion offering is comprised of $1.5 billion in Trump Media common stock and $1 billion in convertible notes at a conversion price equal to a 35% premium....

Circle’s IPO targets $600 million raise at over $5 billion valuation after dismissing Coinbase, Ripple sale reports
Circle plans to offer 24 million shares of its Class A common stock at between $24 and $26, according to an updated SEC filing....

Michael Saylor calls onchain proof-of-reserves a ‘bad idea,’ rules it out for Strategy over security concerns
Saylor said onchain proof-of-reserves is a "bad idea" that poses security threats to Strategy and is meaningless without audited liabilities....