Transaction URL: https://etherscan.io/tx/0xb61413c495fdad6114a7aa863a00b2e3c28945979a10885b12b30316ea9f072c
- Crunch
- Global
Ye, formerly known as Kanye West, may be set to launch a cryptocurrency called YZY, marking his latest move in a long string of business ventures.
What Happened: Quoting sources familiar with the project, Coindesk reported that the token is intended to serve as the official currency of his Yeezy brand while allowing him to sidestep traditional financial platforms that have distanced themselves from him due to his public controversies.
The YZY token’s structure has already raised concerns.
Seventy percent of its total supply will be allocated to Ye himself, with only a small portion set aside for investors and liquidity.
This centralized ownership model closely resembles…
Read more on Benzinga
Altvest Capital Limited a major player on the Johannesburg Stock Exchange has declared its transition to Bitcoin as its principal treasury reserve asset. This bold move positions Altvest as the first listed African company to anchor its financial strategy in cryptocurrency securing its assets against inflation with Bitcoin’s finite supply of 21 million coins.
The company’s strategic shift includes a focused Bitcoin-only investment strategy amid a global rise in institutional acceptance of the digital asset. Altvest aims to bolster financial resilience and preserve shareholder value by leveraging Bitcoin’s liquidity and strong market security features.
CEO Warren Wheatley expressed confidence in Bitcoin’s unique attributes stating that it aligns perfectly with Altvest’s investment philosophy. The decision reflects a comprehensive risk assessment and a commitment to navigating economic shifts while enhancing the company’s treasury portfolio with a proven decentralized asset.
Montana is moving to allow bitcoin to be part of its state reserves. House Bill 429 (HB 429) passed the Montana House Business and Labor Committee with a 12-8 vote. All Republicans voted for it, all Democrats against.
Satoshi Action Fund on X
The bill, introduced by Representative Curtis Schomer, now goes to the full Montana House. If it passes, it goes to the state Senate.
HB 429 creates a state investment fund with bitcoin, precious metals and stablecoins. Digital assets must have a market cap of at least $750 billion over the past year to qualify. Right now, only Bitcoin meets that requirement.
This bill allows Montana to invest in bitcoin as a hedge against…
Read more on bitcoinnews
Jack Dorsey, co-founder and executive chair of Block Inc. XYZ, voiced optimism for the firm’s Bitcoin BTC/USD mining products suite, Proto, on Thursday, hoping to gain a broader share of the largely untapped sector.
What Happened: During the company’s fourth-quarter earnings call, Dorsey said the company was “really excited” about the offering, which aims to decentralize the global supply of mining hardware.
“We do think the market is large and we do think we’re poised to take a significant percentage of it because there is one player, really in this space, and customers want other options,” Dorsey said, possibly pointing toward the dominance of China-based Bitmain,…
Read more on Benzinga
This is a segment from the Lightspeed newsletter. To read full editions, subscribe.
The crypto-incentivized cell network provider Helium Mobile is bringing Helium network coverage to 2.3 million Mexicans via a partnership with Movistar, the country’s second largest carrier service.
Under the new plan, Movistar will pay for its subscribers to use Helium coverage where possible, and Helium hotspot operators will be rewarded with tokens. The expanded Mexico deployment hints at Helium Mobile’s broader development strategy: grow its network in new markets by partnering with existing telecommunications companies.
Helium Mobile sells hotspot devices that people can plug in to…
Read more on Blockworks
This is a segment from the Forward Guidance newsletter. To read full editions, subscribe.
With a new administration in the White House, 2025 is shaping up to be a big year for institutional interest in crypto.
“It’s here to stay,” Roger Bayston, head of digital assets at Franklin Templeton, said of digital assets during a Blockworks Roundtable discussion on Thursday.
Crypto, which has now surpassed the high-yield bond market, will only start to act as a more robust and mature capital market over time, Bayston added.
His enthusiasm is something Liat Shetret, director of policy at Elliptic, has observed in other institutional players as well.
“In the…
Read more on Blockworks