Bitwise: The stablecoin market is growing rapidly.

Bitwise reports continued momentum in the stablecoin sector, highlighting expanding use cases in payments, DeFi, and institutional trading. This trend reinforces stablecoins as a core infrastructure of the crypto economy.

Crypto exchange Kraken has been valued at $15 billion in its latest funding round, according to The Information. This valuation highlights strong investor confidence ahead of the company's anticipated IPO.

Yesterday, Figma went public with an IPO priced at $33, but trading opened at $95.

As a result, the company missed out on $2.3 billion. This isn’t market hype — it’s a classic scheme: banks underprice the offering, sell cheaply to insiders, create artificial scarcity, and retail investors end up buying at inflated prices.

This practice is nothing new:

DoorDash missed out on $3.4 billion

Airbnb — $3.5 billion

Since 2020, investment banks and funds have extracted over $100 billion, bypassing the actual creators of value.

Why do companies agree to this?

To get into market indexes,
secure analyst coverage,
and earn Wall Street’s “respect”,
they have to play by the banks’ rules.

💰 Banks charge up to 7% in fees,
📞 run private placements,
and allocate shares over the phone to their own clients.

The same pattern exists in crypto:

VCs get in during private rounds

Exchanges charge heavy listing fees

Market makers dump tokens right at TGE (Token Generation Event)

🎯 Bottom line: the builders get less, the insiders get everything.

Tether Now 18th Largest Holder of U.S. Treasuries, Surpassing South Korea — USDT Issuer Holds $127B in Reserves

CZ predicts a global race among countries for BTC and major cryptocurrencies

CZ: One of the world’s largest economies is adopting crypto, buying it, and exploring the idea of launching a crypto reserve.

Any country not buying crypto now will fall far behind in the future. The wealthiest nations will be the first to accumulate large amounts of BTC, driving the price up — and then the rest will have to buy in at much higher prices.

Public companies now hold 917,648 BTC, which is 4.61% of the total supply.

Notably, nearly 3% of all BTC is held by a single company — MicroStrategy (#MSTR).

Since the beginning of the year, corporate treasuries and funds have purchased 371,111 BTC—3.75 times more than miners have produced in the same period.

Public companies continue to follow Michael Saylor’s strategy, while the largest ETFs have already accumulated BTC worth nearly $151 billion, accounting for 6.47% of its total circulating supply.

The total open interest in ETH options has risen to its highest level in 1.5 years, with investors sharply increasing their long positions — according to Glassnode data.