The Block
Quick Take Benchmark’s Mark Palmer says rather than fretting about the rise in premium to net asset value, investors should focus on the strong BTC Yield enabled by U.S. capital markets and Bitcoin arbitrage. The analyst maintained a ‘buy’ rating on MSTR stock and raised the company’s price target from $215 to $245.
Quick Take The team behind the Bitcoin-focused, EVM-compatible Plasma chain has raised $3.5 million from friends and family. Plasma, focused on expanding access to the USDT stablecoin, is backed by Bitfinex CTO and Tether CEO Paolo Ardoino.
Quick Take The official X account of EigenLayer appears to have been compromised and used to promote a fake airdrop, according to various online reports.
Quick Take An Indian man was jailed on Thursday for stealing over $20 million via a fake Coinbase crypto exchange website. A U.S. judge sentenced the man to 60 months in prison, followed by two years of supervised release.
Quick Take DBS Bank said that its new suite of products will help institutional clients optimize liquidity management and streamline operational workflows. “DBS Token Services” integrates tokenization and smart contract-enabled capabilities with the bank’s existing banking services.
Quick Take Ethereum-based operating system ethOS has introduced dGEN1, a hardware device optimized for onchain dapp interactions. The device features an operating system based on LineageOS, featuring a native Nimbus light client.
Quick Take Spot bitcoin ETFs in the U.S. drew in a total of $470 million on Thursday. BlackRock’s IBIT led the inflows with $309 million in positive flows. IBIT has drawn in $1.07 billion so far this week. Spot ether ETFs also recorded net inflows of $48 million, their largest this month.
Quick Take The major European securities clearing house said this is the firm’s first strategic investment in Asia as part of its growth strategy in the Asia-Pacific region. Singapore’s Marketnode counts SGX Group, Temasek and HSBC as its major shareholders.
Quick Take The agency filed late on Thursday what is called a “Civil Appeal Pre-Argument Statement” or Form C. The SEC said it is looking to see whether the U.S. District Court for the Southern District of New York made an error in a previous judgment.
Quick Take Success on the public markets contrasts sharply with the struggles faced by crypto venture capital funds. This column is adapted from The Scoop newsletter.
