Crypto
Bitcoin ice carving
Bitcoin ice carving (Kirsty O’Connor/Getty Images)

Nakamoto buys $679 million in bitcoin in its first purchase as a public company

Bitcoin’s price meanwhile seems frozen, but one solo miner is on fire.

Yaël Bizouati-Kennedy

Bitcoin is struggling to regain momentum, and has been stuck in the $114,500 to $116,500 range over the past 24 hours. Nonetheless, VanEck analysts said that despite this pullback, they are sticking with their $180,000 bitcoin price target by year-end.

That hasn’t slowed Nakamoto, fresh off the completion of its merger with KindlyMD last week, from making its first bitcoin purchase as a public company.

The bitcoin-native venture, helmed by Trump crypto adviser David Bailey, acquired 5,744 bitcoin at an average price of $118,204 per bitcoin for $679,000,000.

“The purchase was made using PIPE proceeds, reflecting the company’s commitment to executing a disciplined bitcoin treasury strategy and long-term mission to acquire one million bitcoin under the Nakamoto Bitcoin Treasury,” the company said this morning.

In other bitcoin news:

  • Bitdeer released its second-quarter earnings, reporting bitcoin mining revenue of $59.3 million, up from $41.6 million in Q2 2024, and the company’s bitcoin holdings jumped to 1,502. It also reported revenue of $155.6 million, up 56.8% year over year, but had higher operating costs and reported a net loss of $147.7 million, much higher than the $17.7 million a year prior. Benchmark analysts reiterated their “buy” rating, but the stock is down more than 7% as of 11:00 a.m. ET.

  • A rare win came for a solo bitcoin miner who solved block 910,440, earning a reward of 3.137 bitcoin. “Mining difficulty is now near all-time highs at 129 trillion, making consistent solo wins even less likely,” according to Bitbo.

  • Japanese public company Lib Work announced it plans to buy $3.3 million worth of bitcoin.

  • A second coffee chain may be entering the bitcoin treasury game. Following Spanish coffee chain Vanadi Coffee, now California-based Reborn Coffee has announced it’s initiated a strategic review to assess the potential use of crypto, including bitcoin and ethereum, as part of its “treasury management framework.”

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Hyperliquid is the “1,000 pound gorilla in the room” leading year-to-date market gains amid conflict in the Middle East

While the crypto industry has shed $564.3 billion in 2026, Hyperliquid’s native token has bucked the downtrend and jumped 54.8% year to date.

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Bitcoin tumbles as oil and gas prices spike and the market’s mood turns risk-off

Bitcoin ETFs reverted to outflows and bitcoin suffered $192 million in liquidations in the past 24 hours.

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Payward, parent company of crypto exchange Kraken, puts plans for IPO on hold

Payward, crypto exchange Kraken’s parent company, has paused its plans for an initial public offering until market conditions improve, according to a report from CoinDesk that cited two people with knowledge of the matter. 

Since the firm announced in November its preparation for an IPO of its common stock, the total market capitalization of the crypto industry has shed around $652.2 billion, from $3.2 trillion to $2.5 trillion as of Wednesday, data from CoinGecko shows. 

The news comes two weeks after Kraken received approval for a master account from the Federal Reserve Bank of Kansas City, allowing the crypto exchange to connect to the Fed’s payment infrastructure used by traditional banks and credit unions. 

Last year, Kraken raised $800 million at a $20 billion valuation from institutional investors such as Jane Street and Citadel Securities.

Payward, parent of crypto exchange Kraken, has put its IPO plans on hold

Payward, parent of crypto exchange Kraken, has put its IPO plans on hold

The news comes two weeks after Kraken received approval for a master account from the Federal Reserve Bank of Kansas City, allowing the crypto exchange to connect to the Fed’s payment infrastructure used by traditional banks and credit unions. 

Last year, Kraken raised $800 million at a $20 billion valuation from institutional investors such as Jane Street and Citadel Securities.

crypto
Sage D. Young

SEC and CFTC issue new guidance on how securities laws apply to crypto assets

On Tuesday, the US Securities and Exchange Commission, together with the Commodity Futures Trading Commission, issued an interpretation clarifying how federal securities law applies to crypto assets, a first step toward developing a clearer regulatory framework. 

The interpretive guidance introduces a token taxonomy for different types of cryptocurrencies, with SEC Chairman Paul S. Atkins adding that “most crypto assets are not themselves securities.”

Examples of a digital commodity, “a crypto asset that is intrinsically linked to and derives its value from the programmatic operation of a crypto system that is ‘functional,’” include:

The guidance also includes definitions of digital collectibles (such as NFTs), stablecoins, digital tools, and digital securities (such as tokenized real-world assets and stocks).

This is a monumental step in the mainstream adoption of the industry and clears a hurdle in how crypto can operate going forward, according to David Pakman, head of venture investments at CoinFund. “This will allow new token designs with the confidence that their existence does not require registration with the SEC, etc.,” Pakman told Sherwood News.

Despite the clarification efforts from the two organizations, the market capitalization of the crypto industry has dropped about 2% in the last 24 hours as each of the tokens mentioned in the guidance are trading lower in the period, data from CoinGecko shows.

The joint agency action also complements congressional efforts to turn a crypto market structure framework into law. With the goal of providing regulations on the offer and sale of digital commodities, the CLARITY Act passed the House of Representatives last year and is now sitting in the Senate.

Yaël Bizouati-Kennedy
3/18/26
Citi analysts cut 12-month bitcoin projection to $112,000 from $143,000

The analysts’ bear-case scenario is $57,537, based on “recessionary macro-factors, especially weak equity markets,” which could cause ETF flows to stall.

Bitcoin ice carving

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