Healthcare Company KindlyMD Buys $679M In Bitcoin To Kickstart Treasury
Nasdaq-listed healthcare and Bitcoin treasury firm KindlyMD has entered the crypto space with a massive $679 million Bitcoin purchase. The company acquired 5,744 BTC at an average price of $118,204 using proceeds from private investment in public equity. This marks KindlyMD’s first Bitcoin buy since merging with David Bailey’s Nakamoto Holdings. Bailey, who advised U.S. President Donald Trump on Bitcoin, said the firm aims to acquire 1 million BTC over time. KindlyMD’s buy dwarfs Michael Saylor’s Strategy’s latest $51.4 million purchase, though Strategy remains the largest holder.
SharpLink Snaps Up $667M in Ether, Holdings Hit $3.2B
Sports betting platform SharpLink has purchased $667 million worth of Ether as ETH prices neared all-time highs. According to an SEC filing, the firm acquired 143,593 ETH at an average price of $4,648. SharpLink now holds 740,760 ETH, worth around $3.2 billion, and has generated 1,388 ETH in staking rewards.
The company said nearly all of its ETH is deployed in staking, including liquid staking. However, it noted that staking activities could face regulatory changes, just as it reported a $103 million quarterly net loss.
Wyoming Debuts FRNT Stablecoin Across 7 BlockchainsZ
Wyoming has launched the Frontier Stable Token, i.e. FRNT, a fully collateralized stablecoin backed by U.S. Treasuries and dollars with a 102% reserve requirement.
The FRNT stablecoin, supported by Visa, is now live on Ethereum, Solana, Arbitrum, Avalanche, Polygon, Optimism, and Base through interoperability protocol LayerZero.
Although not yet available to the public due to regulatory hurdles, the launch will be officially highlighted at the Wyoming Blockchain Symposium. Governor Mark Gordon said FRNT would empower citizens and businesses with a secure digital means of transacting.
WazirX Creditors Approve New Recovery Plan
WazirX users have overwhelmingly backed a new restructuring plan after a $234 million hack last year. Nearly 95% of creditors voted in favor, representing $206 million of lost funds.
The Singapore High Court had rejected a similar plan in April due to regulatory concerns. WazirX founder Nischal Shetty said that if the court approves this time, the exchange could restart operations and begin compensating users within 10 days. The hack, attributed to North Korean attackers, forced WazirX to halt withdrawals since July 2024.
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