ICYMI: Here’s a quick news wrap from our U.S. session at @TheBlockCo
💰 Variant raised a $222 million fund targeting early-stage crypto and AI startups focused on expanding "autonomy."
🇦🇺 IREN established its first Australian data center campus to capture growing Asia-Pacific AI demand.
🥇 Tether is launching a Visa card that allows consumers to earn rewards paid in its gold-backed stablecoin XAUT.
🗳️ The crypto industry launched a new PAC aimed at protecting software developers as election season approaches.
🏦 Revolut’s U.S. bank is set to offer stablecoin services alongside FDIC-insured products.
🔥 Sen. Cynthia Lummis criticized JPMorgan CEO Jamie Dimon’s comments on crypto legislation, saying he had not read the Clarity Act.
⚡ Solayer launched the mainnet of Margin Trade, its new onchain perps trading platform.
🏛️ Treasury Secretary Scott Bessent backed a summer push for the Clarity Act and said work on a U.S. bitcoin reserve is progressing at a “deliberate speed.”
🛡️ EdgeX plans to offer refunds and launch a 200,000 USDC bounty program after a 71% token flash crash.
⚔️ Hyperliquid’s HYPE overtook Solana in price as SOL fell to its lowest level since 2023.
Tom Lee is running the STRC playbook for $BMNR, but it could make sense
Bitmine is looking to raise $300 million. At 9.5%, it carries a $28.5M/year perpetual dividend
ETH staking generates yield (currently ~2.7%) or $296M a year for BMNR, more than 10x the annual obligation
Staking yield stops covering obligations if ETH reaches ~$1,200
But something tells me this won't be the only BMNR preferreds we see
Wrapped up a fantastic two days at @proofoftalk with an in depth discussion on Bittensor with @const_reborn.
The Bittensor cofounder has some fascinating takes on AI and decentralization.
Full livestream replay in the comments!
Treasury Secretary Scott Bessent told lawmakers on Wednesday that the department is moving at a "deliberate speed" to establish a strategic bitcoin reserve while continuing to push for passage of a major cryptocurrency market structure bill this summer.
Story here: https://t.co/Ap72azqoEt
Thanks for having me on @TheBlockCo
We talked about @StrataMedia_ strategy, the media landscape, institutional adoption, growing @CryptoAmerica_ and more!
Check it out below 👇🏼
Tuned in to the Senate Finance Committee this morning, where Treasury Secretary Scott Bessent is testifying to talk 2027 budgets, listen here: https://t.co/vqR2FYRTgm