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Trump Media and Technology Group announced plans to repurchase up to $400 million worth of its own shares while leaving intact the $2.3 billion it has earmarked for building a substantial Bitcoin (BTC) reserve.
The board of directors authorized the buyback plan as a show of confidence in the company’s stock and future growth strategy, according to the June 23 statement.
TMTG CEO and Chairman...
Texas Governor Greg Abbott signed the “Bitcoin Reserve Bill” SB 21 into law on June 21, allowing the state to invest an unlimited amount of money from the state’s fund into Bitcoin (BTC).
SB 21 creates the Texas Strategic Bitcoin Reserve and lets the Comptroller buy BTC so long as the asset’s market cap exceeds $500 billion, a threshold that only Bitcoin currently meets.
$2.2B allocation
With the...
Circle’s market capitalization has quickly outpaced the circulating supply of its stablecoin USDC less than a month after the company went public.
Data from CryptoSlate shows that USDC’s current circulating supply is approximately $61.27 billion. Meanwhile, Circle’s market capitalization has surged to around $66.9 billion, according to figures from Yahoo Finance.
Circle’s rapid valuation climb...
Texas is now legally empowered to build its own Bitcoin reserve funded with taxpayer dollars before the federal government takes any comparable action.
Governor Greg Abbott on Saturday signed Senate Bill 21, a law that explicitly allows the state to buy and hold Bitcoin and other top-tier cryptocurrencies.
The measure passed the Texas House and Senate by wide margins, empowering the state...
Japan’s Metaplanet has outpaced Strategy in Bitcoin accumulation, purchasing 1,111 BTC last week, approximately five times more than the US-based firm acquired in the same period.
According to a June 23 disclosure, Metaplanet spent approximately $118 million on its latest purchase, securing the Bitcoin at an average price of $105,468 per coin.
With this addition, Metaplanet now holds 11,111 BTC,...
Fiserv Inc., a major player in global payments and financial services, has unveiled plans to launch a USD-pegged stablecoin called FIUSD on the Solana blockchain, according to a June 23 statement.
The Nasdaq-listed company stated that the stablecoin was built using infrastructure from Paxos and Circle. It is expected to go live by the end of 2025 and will be integrated into its existing banking...
Altcoins are slipping further into decline as investors flock to Bitcoin amid escalating geopolitical tensions and a risk-off environment.
Data from CoinGlass shows the Altcoin Season Index has plunged to 12, its weakest level in nearly a year, reflecting a deepening lack of interest in non-Bitcoin cryptocurrencies.
Altcoin Season Index (Source: Coinglass)
The Altcoin Season Index tracks how non-...
Digital asset investment products recorded their tenth straight week of inflows, bringing in $1.24 billion last week, according to data from CoinShares.
This continued streak has pushed year-to-date (YTD) inflows to $15.1 billion, a new record for this year.
The inflows come at a time of heightened geopolitical tension, particularly following Israel’s military action against Iran. The move...