Exclusive: Inversion Chain’s plan to be the Berkshire of crypto

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You don’t need to understand it to use it. 

That’s Empire co-host Santiago Santos’ ideal situation in building Inversion Chain. 

Confused? Think about the 1990s. Businesses used “.com” and — outside of the somewhat ridiculous Homes.com commercial we saw during the Super Bowl — dot com isn’t really used anymore. If you don’t believe me — or Santos — bring it up to your local Gen Zer and you’ll quickly see how out of tune it is. 

Point being that the internet is just a part of doing business nowadays. And for Santos, crypto or crypto rails are following in the same…

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OpenSea and Doodle token teasers are a potential vibes booster for crypto

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Outside of L1s, this was also a big week for token announcements. 

OpenSea teased SEA and a new platform, and Doodle’s plans to launch its own token. 

Does it mean that NFTs are back? Eh. But for The Drop’s Kate Irwin, it’s a vibes booster for people, one that’s perhaps necessary right now.

(ICYMI: The Drop is our newest newsletter, and I’ve been following Irwin’s reporting in Web3 and gaming for a few years now.)

She and I chatted about the tokens and OpenSea’s OS2 and she explained that there’s another part to this: XP, which is not a token but is earnable and is…

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Securing Spot on MSCI Japan Index

Metaplanet, the Japanese company with a special bitcoin plan, is going to be added to the MSCI Japan Index on February 28, 2025. This comes as the company continues to stockpile bitcoin with a fresh $26 million (4 billion yen) raised via zero-interest, unsecured bonds.

Metaplanet CEO Simon Gerovich on X

The MSCI Japan Index is a mid-to-large-cap index of Japanese stocks maintained by Morgan Stanley, the financial giant. Being added to this index is a huge deal, and will give Metaplanet more visibility and access to investment funds and exchange-traded funds (ETFs) that track MSCI indices.

The firm’s CEO, Simon Gerovich celebrated this event, saying:

“Our…

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Plasma Backed By Peter Theil And Tether’s Paolo Ardoino Raises $20M To Develop Bitcoin-Based Stablecoin Network

Crypto startup Plasma has successfully raised $20 million in a funding round. The funds will be used to develop a Bitcoin-based blockchain specifically for stablecoins.

What Happened: The fundraising round, spearheaded by Framework Ventures, will support the launch of Plasma’s testnet and mainnet, reported Fortune on Thursday. It will also facilitate the company’s expansion into remittances, payments, and DeFi applications. This follows an earlier $4 million round with early backers including Bitfinex, Paolo Ardoino, CEO of Tether USDT/USD, billionaire venture capitalist Peter Thiel, and well-known cryptocurrency traders Cobie and Zaheer Ebtikar of Split…

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LATEST: Michigan Proposes Crypto Reserve Bill, Aims to Regulate Digital Assets

Michigan has become the latest state to push for a Bitcoin reserve, joining 19 others in advancing crypto-related legislation. Lawmakers Bryan Posthumus and Ron Robinson introduced HB 4087 to establish a strategic Bitcoin reserve under the state’s Management and Budget Act. This bill would allow Michigan’s treasurer to invest in cryptocurrency using up to 10% of the general and economic stabilization funds, with no restrictions on which digital assets can be included.

Representative Posthumus urged Michigan to take a leadership role in crypto policy, following Texas’ recent efforts. The bill also includes provisions for lending cryptocurrency, aiming to generate additional returns without increasing financial risk. The state would be required to store digital assets securely through regulated custodians or exchange-traded products.

Posthumus also proposed “MichCoin,” a potential stablecoin backed by gold and silver reserves. With growing interest from multiple states, Michigan’s move signals increasing recognition of Bitcoin and cryptocurrency as viable financial assets for state reserves.

House Bill 4087