Tag: Stocks

Convertible Note Deals Hit IREN and Kindly MD Stocks

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Shares in Bitcoin miner IREN and treasury company Kindly MD have closed with losses on Tuesday after each announced multimillion-dollar convertible note deals amid a slowdown in venture capital activity in the crypto sector. Shares in IREN (IREN) finished Tuesday’s trading session with a gain of 6.81% but dropped 4.9% after the bell to trade at $58.66 following the company’s announcement of an $875 million convertible senior note offering. Healthcare company Kindly MD, which merged with David Bailey’s Bitcoin firm Nakamoto, also said on Tuesday that it opted into a…

Bitcoin’s New All-Time High Boosts Crypto Mining Stocks

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Bitcoin’s new all-time high helped lift shares of Bitcoin miners and some crypto treasury companies on Monday, with most ending the trading day with double-digit percentage gains. Argo Blockchain was the biggest global gainer among crypto miners on Monday, rallying over 96% on the London Stock Exchange to 5.3 British pence ($0.07), with its US rivals also posting gains of over 20% in some cases. Crypto treasury companies were also boosted, with Worldcoin (WLD) buying firm, Eightco Holdings (ORBS), rallying over 34% to close trading at $11. It is, however,…

Bitcoin, Stocks, Set To Fly Higher Amid US Deficit Growth

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Key takeaways: Paul Tudor Jones expects massive upside from US markets, but notes that widespread retail and institutional participation is required for a market peak. US stock market valuations and economic conditions don’t point to an immediate downturn, supporting the thesis of continued speculative momentum. Billionaire investor Paul Tudor Jones firmly believes that US financial markets are far from a bubble and points to the US government’s growing fiscal crisis as a catalyst for risk-on assets, including Bitcoin (BTC). Tudor’s main thesis relies on loose monetary policies, retail flows and…

Tether Mega Raise, SEC Eyes Onchain Stocks

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If this week’s Crypto Biz had a theme, it’s the steady march of traditional finance deeper into crypto’s core infrastructure. Tether is reportedly courting major venture firms for a funding round that could value the stablecoin issuer alongside private tech giants like OpenAI. At the same time, US regulators are considering whether traditional stocks should trade onchain, as the convergence between the Securities and Exchange Commission, Wall Street and tokenization gains momentum. Elsewhere, JPMorgan’s Kinexys platform added a major Gulf bank as a user, while a Nasdaq-listed biotech firm built…

Kraken Launches Tokenized Stocks By Backed In Europe

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US crypto exchange Kraken is the latest platform to introduce tokenized securities in Europe, following an initial rollout in June. Kraken has officially launched Backed’s tokenized securities offering, xStocks, to eligible European investors, the exchange told Cointelegraph on Wednesday. The European expansion comes months after Kraken teased its tokenized stocks integration with Backed on the Solana blockchain in May, with plans to launch the offering to clients in over 140 countries globally. The initial rollout “essentially covered all countries” except for the US, the United Kingdom, Canada, Australia and the…

Senate Crypto Bill Clarifies Tokenized Stocks Remain Securities

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The US Senate updated its crypto market structure bill on Friday, adding a key provision to clarify how tokenized assets are regulated. The new clause would ensure that stocks and other securities remain classified as securities when tokenized on a blockchain, avoiding potential confusion over whether they should fall under commodities regulation. The distinction is important for digital asset firms working on tokenization. Stocks are already regulated as securities. When tokenized, keeping them as securities confirms they stay compatible with broker-dealer frameworks, clearing systems and trading platforms. “We want this…

Coinbase To Launch Futures Index Mixing Crypto, Tech Stocks

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Crypto exchange Coinbase is set to roll out a futures product tracking the top US tech stocks, crypto exchange-traded funds, and its own shares to offer exposure to equities and crypto in a single contract. Coinbase Derivatives said on Tuesday it’s launching the “Mag7 + Crypto Equity Index Futures” on Sept. 22, which will track the “Magnificent 7” tech stocks Apple, Microsoft, Alphabet, Amazon, Nvidia, Meta, and Tesla, BlackRock’s Bitcoin (BTC) and Ether (ETH) ETFs and Coinbase’s stock. “Historically, there has been no US-listed derivative that provides access to both…