LATEST: Nasdaq-Listed DevvStream Purchases $10 Million of Bitcoin and Solana

DevvStream Corp. (Nasdaq: DEVS), a leader in carbon management and environmental asset development, has officially launched its digital treasury strategy with strategic purchases of Bitcoin (BTC) and Solana (SOL). Funded by the first $10 million tranche of a $300 million secured convertible notes facility with Helena Global Investment Opportunities 1 Ltd., this marks the company’s first crypto deployment, aimed at strengthening financial and operational resilience.

Bitcoin was selected for its liquidity and role as a non-correlated store of value, while Solana was chosen for its high-speed blockchain infrastructure, aligning with DevvStream’s long-term vision of supporting sustainability-linked tokenization. The move is designed to bridge traditional carbon markets with the growing digital economy, and advance the integration of blockchain into environmental finance.

DevvStream also revealed plans to increase its existing $300 million Equity Line of Credit (ELOC), pending board and Helena’s approval. This expansion would provide added flexibility to scale investments in digital and environmental infrastructure. CEO Sunny Trinh called the crypto move a “critical step” toward tokenizing high-value environmental assets at scale.

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Coinbase eyes ‘Everything Exchange’ despite Q2 revenue decline

This is a segment from the Forward Guidance newsletter. To read full editions, subscribe.

Coinbase had a down second quarter from a revenue perspective, but remains undeterred in ultimately trying to bring every asset class onchain. 

First, some numbers.

The company’s total revenue of $1.5 billion in Q2 was 26% lower than the prior quarter. Transaction revenue took the biggest hit, dropping 39% quarter over quarter to $764 million amid lower volatility. Subscription and services revenue fell 6% to $656 million.

Worth noting: Competitor Robinhood also saw April-June transaction revenue plummet — dropping 36% to $160 million.

COIN shares were trading around $318 in…

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Imagine if Figma’s IPO had Hyperliquid’s pre-launch perps

This is a segment from the 0xResearch newsletter. To read full editions, subscribe.

The 13-year-old design software company Figma IPO’d on the NYSE yesterday.

As I write this edition, Figma’s stock is trading at $115. That’s a ~250% pop from its $33 opening price — above Circle’s June IPO pop of 168%, and far above the average 17% day-one IPO pop of past decades.

Great success! But according to the Crypto Twitter commentariat, that’s “legalized theft.”

Specifically, theft by the investment bankers from the retail public.

The general idea underlying this criticism is that:

Investment banks deliberately underprice IPOs below fair value, then allocate…

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The exchange that accidentally deleted its 17,000-Bitcoin wallet file

This is a segment from the Supply Shock newsletter. To read full editions, subscribe.

When it comes to Bitcoin mantras, “not your keys, not your coins” is as pure as it gets.

But there are levels to it. Sure, you might be self-custodying, but you might still be required to trust a wallet explorer, for example, to tell you your BTC balance.

Run your own full node, however, and you’ll only ever need to trust your own copy of the Bitcoin ledger.

So here’s one of Bitcoin’s oldest cautionary tales about why the above still matters, a decade and a half later.

Picture this: It’s mid-2011, and there are two major exchanges to buy and sell bitcoin: Mt. Gox,…

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LATEST: UK’s FCA Opens Bitcoin and Crypto ETNs Access to Retail Investors

Retail investors in the UK will soon gain access to crypto exchange traded notes (cETNs), as the Financial Conduct Authority (FCA) announces a significant regulatory shift. These cETNs must be traded on a UK-based, FCA-approved Recognised Investment Exchange (RIE), ensuring consumer protections and compliance with financial promotion rules.

According to David Geale, executive director of payments and digital finance at the FCA, the decision reflects the evolving crypto landscape. He stated that crypto products have become more mainstream and better understood, allowing for expanded investor choice while maintaining safeguards. Firms offering these products must follow the FCA’s Consumer Duty regulations, but investors won’t be protected by the Financial Services Compensation Scheme (FSCS).

This move is part of the FCA’s broader effort to build a crypto regulatory framework. While access to cryptoasset derivatives remains restricted, the FCA continues to explore proposals on stablecoins and high-risk investments, aiming to strike a balance between innovation and investor safety.

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LATEST: Japanese Firm Metaplanet Aims To Raise $3.6 Billion For Bitcoin Purchase

Japanese investment firm Metaplanet has filed a shelf registration to raise up to 555 billion yen, or $3.6 billion, through the issuance of perpetual preferred stock. The funds will support the company’s bold plan to acquire 210,000 Bitcoin by 2027, positioning it as a major player in the digital asset space.

The proposal includes creating two classes of perpetual preferred shares tailored to different investor risk profiles. Class A shares would offer up to 6% dividends and liquidation priority, functioning similarly to corporate bonds. Class B shares come with conversion rights into common stock through put options. Neither class carries voting rights, and no specific issuance date has been confirmed, pending shareholder approval and regulatory review.

Metaplanet currently holds 17,132 Bitcoin, valued at approximately $2 billion, with a 430.2% BTC yield year-to-date. Its stock trading volume soared to 1.86 trillion yen in June, nearly doubling from May. Shareholders will vote on the proposed changes at an extraordinary general meeting on September 1. The registration remains valid through August 2027.

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LATEST: Saylor’s Strategy Sees Q2 Net Income, Files STRC Offering to Purchase Bitcoin

Bitcoin-focused firm Strategy has posted record-breaking Q2 2025 results, as it continues to benefit from the crypto’s surge to all-time highs. The company reported $14.03 billion in operating income, a massive jump from a $200 million loss a year ago. Net income reached $10.02 billion, or $32.60 per diluted share. The firm’s Bitcoin holdings now stand at 628,791 BTC, valued at $46.07 billion.

Strategy also surpassed its full-year BTC Yield goal, hitting 25 percent ahead of schedule, and has raised its targets to 30 percent yield and $20 billion in dollar gains. Revenues rose to $114.5 million, marking a 2.7 percent increase from last year. The company also filed for a $4.2 billion STRC offering, with plans to use the proceeds to buy more Bitcoin.

Executive Chairman Michael Saylor said the new STRC stock offers stable, high-yield returns and supports Bitcoin’s expanding financial ecosystem. Analysts believe Strategy could add over 17,000 BTC without diluting common equity over the next decade.

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LATEST: Tether Earns $2.6B Profit From Bitcoin And Gold Reserves This Year

Tether International (TI) has reported over $157B USD₮ in circulation and more than $127B in U.S. Treasury exposure in its Q2 2025 attestation, completed by top-five firm BDO. Total assets reached $162.5B while liabilities stood at $157.1B, confirming Tether’s reserves fully back the tokens in circulation. The report highlights growing trust in USD₮ as the world’s most transparent and resilient digital dollar.

TI posted a $4.9B net profit in Q2, bringing year-to-date earnings to $5.7B. Recurrent profits hit $3.1B with another $2.6B added from bitcoin and gold. Shareholder equity remains stable at $5.47B, reinforcing long-term strength. Over $13.4B in new USD₮ was issued during the quarter, adding $20B YTD—proof of accelerating global demand.

Tether has reinvested billions into AI, renewable energy, and digital platforms like Rumble. CEO Paolo Ardoino said the company is shaping global finance with USD₮ reaching 150+ countries. “Trust in Tether is accelerating,” he said, “We’re not just meeting demand—we’re driving it.”

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