Important information last night this morning (July 21-July 22)

**Bitcoin’s Market Share Drops Below 60%**  

According to Coingecko data, Bitcoin’s market share has fallen below 60%, currently standing at 58.5%. Meanwhile, Ethereum’s market share is now at 11.4%.  

**Whale Reportedly Sells 700 WBTC Worth $82.4 Million in Three Days**  

On-chain analyst @ai_9684xtpa reported that an address that accumulated 1,074 WBTC four years ago at an average price of $10,708 has sold approximately 700 WBTC (worth $82.4 million) over the past three days at an average price of $117,697. If confirmed, the profit from this sale would be $74.89 million. The wallet still holds 800 WBTC, meaning the selling of the four-year-old holdings is now more than halfway complete.  

**Ark Invest Sells $90.58 Million Worth of Coinbase Shares**  

The Block reported that Cathie Wood’s Ark Invest sold 218,986 shares of Coinbase (COIN) on Monday across three of its ETFs, totaling $90.58 million. Specifically, ARKK sold 174,746 COIN shares, ARKW sold 27,663, and ARKF sold 16,577. Additionally, ARKW offloaded 109,824 Robinhood (HOOD) shares worth $11.46 million, while ARKF sold 90,061 Block Inc. (SQ) shares valued at $7 million.  

**Over 90% of Ethereum Addresses in Profit, Highest Since December 2024**  

Sentora data shows that more than 90% of Ethereum addresses are now in profit, the highest level since December 2024. With relatively few addresses having bought ETH above the current price, on-chain resistance appears weak. The first major resistance level is just below $4,000, where approximately 2.39 million addresses remain underwater.  

**Volcon Completes $500 Million Private Placement, Holds 280.14 BTC, Plans Rebrand to Empery Digital**  

Businesswire reported that U.S.-listed EV company Volcon has completed a previously announced private placement, raising over $500 million. The company has initiated its Bitcoin treasury strategy, allocating more than 95% of the proceeds to BTC purchases. Participants in the private placement included FalconX, Pantera, Borderless, and Relayer Capital. Net proceeds have been deposited into the company’s Gemini custody account, with additional Bitcoin purchases underway. As of today, Volcon holds 280.14 BTC, including 235.83 BTC acquired through the private placement. The company plans to develop a global Bitcoin treasury strategy, offering investors exposure through equity offerings. Volcon will soon rebrand to Empery Digital, Inc. (ticker: EMPD), while its Power Sports division will operate as Empery Mobility.  

**Coinbase Launches Crypto Perpetual Futures Trading in the U.S.**  

Coinbase announced that, starting July 21, 2025, U.S. users can legally trade perpetual futures via its CFTC-regulated Coinbase Financial Markets (CFM) platform. Perpetual futures, which account for roughly 90% of global crypto derivatives trading volume, offer advantages such as no monthly expiry and leverage. Regulatory constraints had previously barred U.S. users from this market.  

**Bittensor Ecosystem Firm xTAO to List in Canada After Raising $22.8 Million from DCG, Others**  

The Block reported that xTAO, a Bittensor-focused firm, has received final approval to list on the TSX Venture Exchange (TSXV) under the ticker XTAO.U. The company raised $22.8 million from investors including Digital Currency Group, Animoca Brands, Arca, Borderless Capital, and FalconX. Founded by former WonderFi CEO Karia Samaroo, xTAO aims to advance the Bittensor ecosystem through data, computation, and machine learning model development.  

**New Wallet Receives 25,213 ETH ($94.67 Million) from FalconX**  

Onchain Lens reported that a newly created wallet received 25,213 ETH (worth $94.67 million) from FalconX. Over the past two days, the wallet has accumulated 72,333 ETH ($272 million).  

**GameSquare Approves Additional $150 Million for Crypto Treasury, Buys 8,351 ETH**  

The Block reported that Nasdaq-listed media firm GameSquare (GAME) has increased its digital asset treasury allocation from $100 million to $250 million. The company recently purchased 8,351 ETH at an average price of $3,592, bringing its total ETH holdings to 10,170.74. As part of its treasury strategy, GameSquare has allocated $10 million to an NFT yield strategy and partnered with Dialectic’s Ryan Zurrer and Goff Capital’s Rhydon. CEO Justin Kenna stated that the firm is among the first public companies to integrate NFTs into its diversified digital asset strategy. Earlier this month, GameSquare’s board approved a $100 million ETH treasury plan, and the company recently raised $70 million in a public offering to increase its ETH exposure.  

**Strategy Launches Fourth Preferred Stock Product "Stretch" to Fund Bitcoin Purchases**  

The Block reported that Strategy (formerly MicroStrategy, MSTR) has launched its fourth preferred stock offering, "Stretch" (STRC). The perpetual preferred stock will issue 5 million shares at $100 par value, with an initial annual dividend yield of 9%, paid monthly. Proceeds will fund corporate operations and Bitcoin acquisitions. Earlier on Monday, Strategy announced the purchase of 6,220 BTC for $739.8 million, bringing its total holdings to 607,770 BTC. The STRC offering follows fixed-rate preferred shares STRK (8%), STRF (10%), and STRD (10%), complementing its "42/42" plan to raise $84 billion by 2027 for Bitcoin purchases.  

**Reporter: White House’s First Crypto Policy Report to Be Released by End of Month**  

Crypto journalist Eleanor Terrett stated that the White House’s first crypto policy report will be submitted on July 22 but is expected to be publicly released by the end of the month.  

**Kaito to Launch Web3 Fundraising Platform Capital Launchpad This Week**  

The Block reported that AI-driven Web3 data provider Kaito will launch Capital Launchpad, a fundraising platform allowing users to participate in token private sales and new project investments. The platform replaces first-come-first-served models with allocation mechanisms based on social reputation, on-chain holdings, and other metrics. Founder Yu Hu, a former Citadel hedge fund manager, noted that projects can set terms such as investment amounts, valuations, and lock-up periods while vetting investors. The launch aligns with Kaito’s mission to become a crypto distribution hub, similar to trader Cobie’s Echo platform.  

**Tornado Cash Co-Founder Roman Storm’s Trial in Flux as Defense Considers Mistrial Motion**  

The Block reported that Tornado Cash co-founder Roman Storm’s lawyers are considering a mistrial motion after raising concerns about government evidence. A prosecution witness, Hanfeng Ling, claimed that funds from a 2021 pig-butchering scam were laundered through Tornado Cash, but defense investigators found no evidence linking the funds to the mixer. Ethereum security expert Taylor Monahan also disputed the claim, stating that scammers avoid Tornado Cash and that the funds never touched the platform. Storm’s trial began last week in Manhattan federal court. In 2023, he was charged with conspiracy to launder money and sanctions violations for operating Tornado Cash. If convicted, he faces up to 45 years in prison.  

**Ether Machine Aims to Raise $1.6 Billion in IPO, Hold Over 400,000 ETH**  

Reuters reported that Ether Reserve, a new crypto venture backed by prominent investors, will go public via a merger with blank-check company Dynamix Corporation (DYNX) on Nasdaq, raising over $1.6 billion. The merged entity, named "Ether Machine," aims to hold more than 400,000 ETH, making it the largest public vehicle for institutional exposure to Ethereum. Dynamix shares surged nearly 28% in early trading. The deal highlights growing institutional interest in holding crypto on corporate balance sheets, with several projects recently announcing plans to go public and package crypto assets as stocks for traditional investors.  

**Mercurity Fintech Signs $200 Million SOL Funding Deal with Solana Ventures**  

The Block reported that Nasdaq-listed Mercurity Fintech Holding has entered a $200 million equity credit agreement with Solana Ventures to advance its Solana treasury strategy. The firm plans to accumulate SOL tokens, stake them, run validator nodes, and invest in Solana-based projects, including tokenized and real-world asset platforms. Chief Strategy Officer Wilfred Daye clarified that the Solana strategy complements, rather than replaces, its $800 million Bitcoin treasury plan.  

**Justin Sun to Ride Blue Origin Rocket to Space**  

Zoomer reported that Justin Sun will join Blue Origin’s NS-34 mission as a crew member. Blue Origin announced that the flight will carry six people, including the cryptocurrency entrepreneur.  

**Polymarket to Acquire Regulated Exchange QCX for $112 Million**  

Bloomberg reported that prediction market Polymarket will re-enter the U.S. legally after acquiring derivatives exchange QCX. Previously forced offshore by U.S. regulators, Polymarket saw the DOJ and CFTC drop investigations into its operations. The $112 million acquisition will grant Polymarket regulatory licenses to serve U.S. users. QCX received CFTC approval on July 9.  

**Spot Gold Surpasses $3,400**  

Spot gold rose 1.48% to break $3,400 per ounce.  

**Amber Group’s amber.ac Launches BUIDL_QUESTS 2025 with $10M+ in Prizes to Boost AgentFi Innovation**  

Amber Group’s Web3 accelerator amber.ac has launched its second global hackathon, BUIDL_QUESTS 2025, offering over $10 million in incentives to foster AgentFi innovation. Prizes include cash, ecosystem rewards, potential investments, cloud credits, and TVL liquidity support. Participants may also receive mentorship, funding opportunities, and a showcase at Token2049. AI economy representative MIA will serve as ambassador. Registration is now open on amber.ac.  

**U.S. Stocks Open Higher, Ethereum-Linked Stocks Rally**  

At market open, the Dow rose 0.06%, the S&P 500 gained 0.16%, and the Nasdaq climbed 0.31%. Ethereum-linked stocks surged, with Gamesquare Holdings up 3.9% and BTCS jumping 13%. Trump Media & Technology Group (DJT) rose 5.7% after announcing its Bitcoin holdings had reached $2 billion.  

**TLGY Merges with StablecoinX, Secures $360 Million PIPE; Ethena Foundation Launches $260 Million Buyback**  

Globe Newswire reported that TLGY Acquisition Corp. will merge with StablecoinX Assets Inc. to form StablecoinX, a Nasdaq-listed firm (ticker: USDE) focused on the Ethena stablecoin ecosystem. The deal includes $360 million in PIPE financing, with the Ethena Foundation contributing $60 million. Concurrently, the foundation will initiate a $260 million token buyback.  

**BitGo Files for U.S. IPO**  

BusinessWire reported that crypto custodian BitGo has confidentially submitted a draft S-1 registration statement to the SEC for its Class A common stock IPO. The number of shares and price range remain undetermined. The offering is subject to SEC review and market conditions.  

**Trump Media & Technology Group: Bitcoin Holdings Now Two-Thirds of Liquid Assets**  

Trump Media & Technology Group (DJT) disclosed that its Bitcoin holdings account for roughly two-thirds of its approximately $3 billion in liquid assets. The stock rose 5% in premarket trading.  

**Trump Media & Technology Group: Bitcoin Treasury Reaches $2 Billion**  

Trump Media & Technology Group (DJT) announced its Bitcoin holdings have reached $2 billion. The company plans to continue acquiring Bitcoin and related assets while converting options into spot BTC. An additional $300 million has been allocated to Bitcoin-linked securities options.  

**Strategy Bought 6,220 BTC Last Week for $740 Million**  

Strategy (formerly MicroStrategy) purchased 6,220 BTC from July 14-20 at an average price of $118,940 per coin, spending approximately $739.8 million. As of July 20, 2025, the company holds 607,770 BTC, acquired at an average cost of $71,756 per coin for a total of $43.61 billion.  

**BTCS Discloses ETH and Cash Holdings Worth $242 Million**  

GlobeNewswire reported that blockchain firm BTCS Inc. (BTCS) holds 55,788 ETH, cash, and other liquid assets worth approximately $242 million (at $3,600 per ETH). The company has also agreed to issue $10 million in convertible notes at $13 per share, a 198% premium to its July 18 closing price. Year-to-date, BTCS has raised $189 million via its DeFi/TradFi Accretion Flywheel strategy and plans to expand its ETH holdings further.  

**Allied Technologies: Launches Proprietary Global Stablecoin Payment Platform**  

Hong Kong-listed Allied Technologies announced its entry into crypto payments with the launch of "Fopay," a stablecoin-based mobile app offering custodial and prepaid card services via licensed partners. The board believes the new business line will create opportunities and benefit shareholders.  

**23 Whales and Institutions Bought Over 680,000 ETH This Month**  

Lookonchain data shows that 23 whales and institutions have collectively purchased 681,103 ETH (worth $2.57 billion) since July 1.  

**Sequans Buys 1,264 BTC for $150 Million**  

Bitcoin Magazine reported that French-listed Sequans has acquired 1,264 BTC for $150 million, bringing its total holdings to 2,317 BTC.  

**Binance Alpha to List Alliance Games (COA)**  

Binance Chinese announced that Binance Alpha will be the first platform to list Alliance Games (COA) on July 23. Eligible users can claim an airdrop via Alpha points after trading goes live.  

**The Ether Machine, Backed by Pantera, Raises $1.5 Billion to Go Public with 400,000+ ETH**  

A press release stated that Ether Machine, Inc., an Ethereum staking firm, will go public via a merger with SPAC Dynamix Corporation (DYNX) on Nasdaq (ticker: ETHM). The company expects to hold over 400,000 ETH at launch, making it the largest public ETH treasury. The $1.5 billion deal includes $645 million from co-founder Andrew Keys (169,984 ETH) and $800+ million from Pantera, Kraken, Electric Capital, and others. Total funding could reach $1.6 billion, including Dynamix’s $170 million trust cash. The firm will focus on ETH staking, restaking, and DeFi strategies. The merger is expected to close in Q4 2025, pending shareholder and regulatory approvals.  

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