Zhibao Technology, a Shanghai-based insurance-technology firm listed on the Nasdaq, said Wednesday it has signed a non-binding term sheet for a stock sale that would be paid for in bitcoin — some 3,500 coins, worth near $220 million at current prices.

The deal, a private investment in public equity known as a PIPE, would have a buyer named Joyertech and Information OPC subscribe for Zhibao shares with consideration the company expects to include about 3,500 BTC. 

The figure remains subject to final valuation, custody arrangements, an audit, regulatory review, and definitive agreements. Zhibao stressed that the term sheet binds no one, and that the transaction may change or…

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The crypto industry may be relatively small in terms of employers — but the economic contribution is big. 

That’s according to a new report published by the National Cryptocurrency Association and the Pragmatic Policy Group, which reveals that while only 34,000 people are employed by crypto companies, the industry will contribute $55 billion in 2026 to the U.S. economy. 

The report, “Crypto at Work”, which claims to be the first to comprehensively analyze the crypto industry’s footprint in the U.S. labor market, said that jobs in the space also average $133,000 a year — more than double the $64,000 national median wage, and ahead of average pay in tech of and…

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Investment bank Benchmark has raised its price target on Bitcoin miner Hut 8 following news that the company had signed a second 15-year lease ​worth $9.8 billion for its AI data center.

Equity research analyst Mark Palmer reiterated his “buy” rating on the Toronto- and Nasdaq-listed miner in a note Wednesday, raising its price target to $195, up from $165 — an 80% upside from Hut 8’s current share price of nearly $110 a pop. 

Palmer argued that the deal validates Hut 8’s “power-first” approach to building out AI infrastructure. 

Hut 8 announced Monday that it had signed a second 15-year lease for 352 megawatts of IT capacity at its Beacon Point campus in…

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Senate Republicans released an updated version of the Clarity Act on Wednesday, a draft that for the first time carries a crypto ethics agreement barring the president, vice president, members of Congress, federal judges, and other covered officials from issuing or sponsoring digital assets.

The new Clarity Act text, posted after morning briefing calls with stakeholders, adds a section titled “Ban on certain digital asset transactions.” It states that a covered individual “shall not, in exchange for consideration,” issue or sponsor a digital asset, a prohibition that reaches public officials and employees during their service, and their spouses. 

A companion clause bars…

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Crypto entrepreneurs Tyler and Cameron Winklevoss donated over $10 million after liquidating Bitcoin to American super PAC MAGA Inc., which supports President Donald Trump. 

A Tuesday filing shows each twin — the founders of the public crypto exchange, Gemini — donated over $5 million each. 

The donation comes about one month after the U.S. Commodity Futures Trading Commission asked a judge to vacate the agency’s $5 million penalty against Gemini.

The twins back in 2024 announced that they had donated 30.94 Bitcoin, valued at over $2 million at the time, to President Trump’s campaign, claiming it would “put an end to the Biden Administration’s war on…

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American investors have thrown fresh cash at Bitcoin exchange-traded funds over the past six days, helping the price of the top cryptocurrency to rise again. 

Data from Farside Investors shows that close to $1 billion has been pumped into the funds since Tuesday last week. 

The price of Bitcoin was recently trading at nearly $65,860, down slightly over the past 24 hours but up 1% over a seven-day period. The leading cryptocurrency touched a weekly high yesterday of $66,891. 

Funds managed by BlackRock, Morgan Stanley, and Grayscale have taken in over $930 million in the six-day streak after weeks of lacklustre flows and sloppy price action. 

Bitcoin is currently nearly…

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Coinbase has settled its Freedom of Information Act lawsuit against the Securities and Exchange Commission, closing a years-long fight that came to rest on a batch of text messages the agency admits it destroyed. 

Chief legal officer Paul Grewal disclosed the deal in a Wall Street Journal op-ed on Wednesday.

Under the terms, Grewal wrote, the SEC will pay $150,000 and repair its record-retention policies. 

The story behind the settlement is what gives it weight. Coinbase filed FOIA requests in 2023 for records that might show how the SEC decided to treat crypto as securities, the same question at the center of the enforcement suit the agency brought against the company that June. 

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Bitcoin spent the past month in a holding pattern around $63,700, and VanEck’s latest Bitcoin ChainCheck reads the setup as a cautious pause rather than a bottom, with derivatives flashing fear, miner economics near multi-year lows, and long-term holders tightening their grip.

The mid-July report frames the moment as consolidation, not recovery. Bitcoin closed July 12 at $63,742, flat against a month earlier yet 33% off its six-month high and 14% below its 200-day moving average near a bitcoin price of $74,000. 

The pause caps two monthly declines, a 3.6% dip in May and a 20.5% drop in June. 

Trading thinned into the summer. Spot volume averaged about $5.1 billion a day…

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Satsuma shareholders have voted to unwind the company’s bitcoin treasury and pull its shares off the London Stock Exchange.

At a general meeting on July 20, holders passed two special resolutions: one to return substantially all of Satsuma’s capital to shareholders, the other to cancel the company’s listing on the FCA’s Official List. 

The capital return resolution carried 90.63% support, with 7,869,182,042 votes in favor against 813,703,719 opposed. The delisting resolution passed with near-identical margins, 90.59% in favor.

The board will now close out Satsuma’s trading operations and sell the company’s remaining bitcoin, roughly 668 BTC. 

The stock had…

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