Crypto
Bitcoin symbol
(Getty Images)
Centralization

Strive to merge with Semler Scientific to form “the fastest growing corporate Bitcoin holder”

Meanwhile, Metaplanet made its largest acquisition to date of 5,419 bitcoin.

Yaël Bizouati-Kennedy

Vivek Ramaswamy’s Strive, which merged with Asset Entities earlier this month to launch a bitcoin treasury, announced it acquired Semler Scientific in an all-stock deal. Shares of Semler jumped on the announcement.

Tim Kotzman, founder of Bitcoin Treasuries Media, told Sherwood News that the merger ushers in the M&A era of bitcoin treasuries. 

“You can mine bitcoin, buy it, or acquire it. I believe M&A will become the primary theme in the DAT [digital asset treasury] space and may become the prevailing activity, with bankruptcies taking a back seat due to the pristine nature of bitcoin as collateral,” he said. 

Maja Vujinovic, CEO of FG Nexus, echoed the sentiment, saying that she expects to see more of these mergers as public companies seek both liquidity and legitimacy in the digital asset space.

In the announcement, Strive said it acquired 5,816 bitcoin and noted that the combined company will own over 10,900 bitcoin, which is still not enough to rank in the top 10 of corporate bitcoin treasuries, so it has a lot of room to “become the fastest growing corporate Bitcoin holder.”

Speaking of, bitcoin treasury company Metaplanet has shot up to fifth place on the corporate bitcoin treasury leaderboard with its latest purchase. The Japanese company announced this morning that it acquired 5,419 bitcoin for $632.53 million, its largest acquisition to date.

And not to be forgotten, the largest corporate bitcoin holder, Strategy, announced it acquired 850 bitcoin for $99.7 million.

In other bitcoin treasury news:

  • Newly launched UK company B HODL started trading on the Aquis Stock Exchange on Monday after raising $20 million for its bitcoin treasury via the issuance of new shares. Major shareholders include Adam Back, inventor of Hashcash and cofounder of Blockstream, with a 25.3% share, according to the announcement.

  • French company Capital B acquired 551 bitcoin, bringing its total holdings to 2,800 bitcoin.

More Crypto

See all Crypto
crypto

Crypto market snaps back as sentiment lifts, with altcoins from ethereum to XRP soaring

The market capitalization of the crypto industry has jumped around $83.2 billion in the last 24 hours, with privacy-focused token Zcash and worldcoin, the native cryptocurrency of the network backed by OpenAI CEO Sam Altman, leading market gains, jumping over 22%.

But the last 24 hours have been good across the board:

Investors have been eager to see some positive signs around the Iranian conflict ending, coupled with hopeful outlooks around the CLARITY act, both breathing some life into assets, Kairos Research cofounder Ian Unsworth told Sherwood News.

Simon Shockey, a crypto strategist at crypto wallet infrastructure firm Privy, said the upswing stems from several things converging. He pointed to how alt markets broadly were very oversold following the bug found in Zcash that shook confidence.

Friday, Zcash founder Zooko Wilcox said Anthropic didn’t find any more serious bugs with the Zcash protocol after Shielded Labs requested the AI firm run a security audit of the network with Mythos.

Shockey added that the pool of willing sellers has dwindled. Even if structurally, AI is a much more compelling and asymmetric bet in the eyes of allocators, many of these crypto assets have simply run out of marginal sellers despite some shorter-term narrative-driven pumps. The only people left to sell at this point are the teams themselves and VCs.

Net-net: oversold conditions plus exhausted seller bases plus a macro backdrop thats stabilized equals a snapback, especially in names that have real usage or community conviction behind them,” Shockey told Sherwood.

$389M

US Attorney David Metcalf announced Thursday the arrests of Ruslan Igorevich Tkachuk and Alexander Vladimirovich Ledenev, alleged senior members of AudiA6, a cryptocurrency money-laundering service believed to be responsible for laundering over $389 million.

The arrests coincided with a coordinated international takedown of AudiA6 and its infrastructure, involving the search of three properties, the seizure of servers and domains connected to the organization, as well as freezing cryptocurrency assets, according to a Department of Justice press release.

Tkachuk and Ledenev were “charged by criminal complaint with one count of conspiracy to launder monetary instruments and one count of sting money laundering,” the DOJ said. If convicted, they face a maximum possible sentence of 20 years of incarceration.

Per the criminal complaint, AudiA6 offered services to conceal the origin of cryptocurrency linked to criminal activity, charging fees of up to 5% of the amount laundered.

The two defendants are in custody of Republic of Georgia authorities, and the US Attorney’s Office aims to seek their extradition to the Eastern District of Pennsylvania.

Latest Stories

Sherwood Media, LLC and Chartr Limited produce fresh and unique perspectives on topical financial news and are fully owned subsidiaries of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate, including Robinhood Markets, Inc., Robinhood Financial LLC, Robinhood Securities, LLC, Robinhood Crypto, LLC, Robinhood Money, LLC, Robinhood U.K. Ltd, Robinhood Derivatives, LLC, Robinhood Gold, LLC, Robinhood Asset Management, LLC, Robinhood Credit, Inc., Robinhood Ventures DE, LLC and, where applicable, its managed investment vehicles.