Bitpush editor's daily selected Web3 news:
[Bakkt updates investment policy and announces $1 billion securities issuance plan aimed at incorporating digital assets like Bitcoin into company treasury]
According to documents published by Bitcoin Magazine, the listed company Bakkt focused on the digital asset field has updated its investment policy and announced a $1 billion securities issuance plan aimed at incorporating digital assets into its corporate treasury.
Screenshot documents show that to support this new strategy and provide funding flexibility for potential digital asset acquisitions, Bakkt has submitted a hybrid securities issuance plan of up to $1 billion. The plan covers multiple security types including Class A common stock, preferred stock, debt securities, warrants, and units. The company stated that in the future, it may use proceeds from issuance, excess cash, or existing capital sources to acquire digital assets, subject to restrictions in the investment policy.
Additionally, Bakkt plans to explore other opportunistic financing options, including issuing convertible notes, bonds, or other debt instruments for purchasing digital assets or other purposes that comply with its investment policy.
[Billionaire investor Philippe Laffont: Bitcoin has the potential to become one of the most valuable assets globally within the next five years]
Billionaire investor Philippe Laffont, founder of hedge fund and tech venture capital firm Coatue Management, recently released his list of "40 Best Companies in 2030", with one unexpected asset drawing widespread attention - Bitcoin, the world's largest cryptocurrency.
In an interview with CNBC's "Squawk Box" on June 25, Laffont placed Bitcoin alongside tech giants like Microsoft, Nvidia, Amazon, and Meta, believing Bitcoin has the potential to become one of the most valuable assets globally within the next five years. Laffont previously admitted missing early Bitcoin investment opportunities and expressed regret. He believes Bitcoin's market valuation could potentially double by 2030, even reaching $5 trillion. Notably, his "Fantastic 40" list did not include Apple and Alphabet (Google).
Coatue Management is an investment firm focused on the tech sector, with its portfolio already including on-chain analysis platforms like dune analytics, Chainalysis, and crypto-related companies such as crypto miner Hut 8.
[UAE crypto fund Aqua1 purchases $100 million worth of WLFI tokens]
The UAE-based cryptocurrency-focused fund Aqua1 stated on Thursday that it purchased $100 million worth of World Liberty Financial tokens. In its announcement, Aqua1 said its token purchase aims to "accelerate the creation of a blockchain-development-centered blockchain financial ecosystem".
According to the organization's website: "The Aqua1 Foundation is a UAE-based Web3 native fund with a global vision. It is committed to the long-term prosperity of the crypto ecosystem... Our goal is to provide stable returns for asset holders and become a key driver of crypto asset liquidity and growth."
The day before, the Trump-supported DeFi project World Liberty stated it was working to enable trading of its WLFI tokens.
[US Senator Lummis: Hopes to review and revise crypto market structure bill draft in September]
FOX Business reporter Eleanor Terrett reported that US Senator Cynthia Lummis just stated that the Senate will have a crypto market structure bill draft, hoping to publish it before the August recess and review and revise it in September.
[Genius Group board approves potential $1 billion litigation revenue allocation plan, intends to support BTC acquisition]
The board of the US-listed AI edtech company Genius Group has approved an allocation plan where, if the company wins any litigation compensation in the future, 50% of net proceeds will be used for special dividends to shareholders, and the other 50% will be invested in Bitcoin as corporate treasury reserves. Genius Group is currently pursuing two compensation claims totaling over $1 billion.
[Coinbase stock price reaches historic closing high, surging 40% this month]
Cryptocurrency exchange Coinbase Global (COIN) stock closed at $375.07 on Thursday (New York time, June 26), up 5.5%, reaching its highest closing price since its listing in April 2021. The previous historical high was $357.39 in November 2021.
Data shows Coinbase stock has performed strongly recently, rising nearly 24% in the past five trading days and surging 40% in the past month. Currently, the company's market value has expanded to $89 billion.
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