Nasdaq-listed Mercurity Fintech To Raise $800mn For Bitcoin Treasury.
Mercurity Fintech Holding, a Nasdaq-listed digital fintech group building blockchain-based payment infrastructure, plans to raise $800 million to establish a Bitcoin treasury reserve as more companies adopt the cryptocurrency for strategic purposes.
Mercurity plans to raise $800 million to establish a “long-term” Bitcoin treasury reserve, which will be integrated in its digital reserve framework through blockchain-native custody, staking integrations and tokenized treasury management services, the company said.
Trident Digital To Create XRP Treasury of Up To $500mn.
Trident Digital Tech Holdings, a Web3 company based in Singapore, said it will start an XRP treasury of up to $500 million. By doing so, the company joins a host of others that have, since May, announced reserves of the Ripple-created cryptocurrency.
Rather than a simple buy-and-hold strategy, Trident plans to use its XRP reserves to generate yield through the deployment of staking mechanisms and have a “deep engagement” within the Ripple ecosystem, according to the announcement.
The start of the XRP reserve will occur in the second half of 2025, dependent on regulation and market conditions.
Nasdaq-listed Firm DeFi Development Reveals $5bn Plan to Buy SOL.
DeFi Development Corp., a U.S. company listed on Nasdaq, focused on growing its holdings of Solana (SOL), has made a major move to raise money. The company has signed a share purchase agreement, known as an ELOC (Equity Line of Credit), with RK Capital Management LLC.
This deal gives DeFi Dev the option to sell up to $5 billion worth of its stock to RK Capital when it chooses, not all at once. Unlike traditional fundraising where companies raise money in one big chunk often at a fixed price, this deal allows DeFi Dev to raise money gradually.
USDT Issuer Tether Buys 32% Stake In Canadian Gold Royalty Firm Elemental.
Tether, the issuer of the world’s largest stablecoin by market capitalization, continues its buying spree with its 32% stake acquisition in Canada’s public gold royalty firm Elemental Altus Royalties.
Tether Investments on Thursday announced the acquisition of 78,421,780 common shares of Elemental (ELE) from La Mancha Investments, representing 31.9% of Elemental’s issued and outstanding shares.
The investment marks a milestone in Tether’s strategy to “integrate long-term, stable assets such as gold and Bitcoin” in its ecosystem, both as a hedge and as part of its commitment to building a resilient digital economy infrastructure, the stablecoin issuer said.
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