On Dec. 15, Elizabeth Warren put two names at the top of a letter that signals where she thinks US crypto policy is actually written: Treasury Secretary Scott Bessent and Attorney General Pamela Bondi. The ask is simple on paper but awkward in practice. Are their departments investigating what she calls “national security risks” tied […]
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Nasdaq and MOVE index patterns warrant caution for BTC bulls.
From Donald Trump's crypto-friendly regulators, the yearly report that once flagged financial-stability risks is no longer issuing "vulnerability" warnings.
"Treasuries love that 4% to 4.1% trading range. Temporary break below more likely. But break above has more legs," the Dutch bank said.
Evaluating crypto treasury companies: Are they hype or real value? Learn the key risks—premium, leverage, and regulation—advisors must consider for clients.
In this week’s Crypto Long & Short Newsletter, Abdul Rafay Gadit writes about how DATCO’s are reshaping corporate finance. Then, we take a look back at crypto rates and a look ahead at signs of strength as the country emerges from the government shutdown, with Andy Baehr’s “Vibe Check.
U.S. federal agencies are establishing a Scam Center Strike Force to counter the industrial-scale efforts to swindle money via crypto transactions.
Sequans sold 970 Bitcoin to redeem half of its convertible debt, reducing total liabilities from $189 million to $94.5 million.
According to reports, Evernorth — a Ripple-backed treasury firm — has agreed to merge with Armada Acquisition Corp II and plans to list under the XRPN ticker. Related Reading: Forget Billions—XRP Could Hit Trillions, Leading Expert Says The SPAC deal aims to raise $1 billion to build what Evernorth calls a large XRP treasury. Ripple and co-founder Chris Larsen contributed XRP to the project. Nine days after the SPAC announcement, reports said Evernorth had already received $1 billion worth of XRP. The merger is targeted to close in Q1 2026. On Contributions & Cash Buying Because the early inputs were paid in XRP rather than cash, immediate upward pressure on exchange order books did not happen. Market purchases require fiat or cash to be placed into public markets. SBI’s announced $300 million cash pledge is one example of money that could be used to buy XRP outright. But so far most of the headline amounts are XRP moved into a treasury, not fresh cash hitting exchanges. It is my understanding the new @evernorthxrp venture will raise $1BN through XRP direct investment, as announced and as we’ve seen on the chain. So you thinking “how will that affect open market XRP?”. Let me explain. There next plan is to IPO on stock exchange. This will raise… — Vincent Van Code (@vincent_vancode) October 27, 2025 Analyst Signals Incoming ‘Shock’ Vincent Van Code, a software engineer and active voice in the XRP community, told followers on X that the bigger event may still be ahead. He said the IPO itself could bring billions in new cash. If those funds are later used to buy XRP on the open market, he warned, existing supply could tighten and a “supply shock” might follow. Van Code did not offer a fixed timetable. Other commentators, including a market voice known as Nietzbux, have already framed the development as strongly bullish for XRP. Why The Timing Matters Based on reports, the sequence is what could change prices: cash raised first, then purchases on public markets. If that order is reversed — cash arrives and large buys follow quickly — liquidity could be tested. Exchanges have varying depth. A single large buyer can move prices more in thin markets than in thick ones. That is simple market mechanics. It is also why some community members are watching the SPAC schedule closely. There will come a time where XRP and XRPL is just where you keep most of your wealth. That is called Treasury. Hint hint. — Vincent Van Code (@vincent_vancode) October 17, 2025 Related Reading: Dogecoin Flashback: Mirror Move Hints At Record-Breaking Surge XRP’s Role And The Broader Narrative A number of developers and analysts now speak of XRP not only as a payment bridge but also as a treasury asset inside the XRPL ecosystem. Van Code suggested that a time may come when people keep a big share of their wealth in XRP and on the XRP Ledger. Ripple’s CTO David Schwartz has emphasized similar ideas about self-custody and on-ledger utility. Those themes are being reused as part of the argument for long-term demand. Featured image from Gemini, chart from TradingView
Ripple’s recent moves are drawing new attention after Western Union picked Solana for a USDPT rollout in 2026. According to supporters of XRP, that headline misses a bigger picture: Ripple has been buying firms that touch much larger pools of money. Related Reading: Bitcoin Drop Shaves $5 Billion From Satoshi Nakamoto’s Untouched Fortune Western Union’s deal could steer over $100 billion in annual cross-border flow to Solana. But some say that sum is small compared with the pipelines Ripple is tying into. Trillions Not Billions Based on reports, Ripple has added firms that already sit inside massive payment and liquidity systems. Hidden Road, a global prime brokerage, clears about $3 trillion a year. GTreasury provides treasury tools that move trillions in payments across 160+ countries. Rail handles roughly 10% of all stablecoin-based payment volume worldwide. Those figures matter because ownership gives a different kind of access than a short-term partnership does. many of you have asked for my thoughts on the western union x solana announcement, so here they are. TLDR: billions are cool, but trillions are cooler. while western union handles billions of dollars each year, ripple is on its way to handling trillions of dollars each year.… — Dom | EasyA (@dom_kwok) October 29, 2025 Market Comment And Skepticism Market voices pushed back. Scott Melker questioned XRP’s current role after Western Union chose Solana, noting Western Union had tested the XRP Ledger for years. That choice has prompted debate about whether XRP still matters for big global payments right now. At the same time, Ripple’s backers argue a deeper story exists beyond which chain a single company picks for its stablecoin. XRP As The Settlement Layer According to Dom Kwok, co-founder of EasyA, the proper lens is scale. He says the conversation should not center on deals worth billions but on the trillions Ripple now touches through acquisitions. Kwok and others suggest those companies could be steered to use the XRP Ledger for settlement over time. Ripple’s own technology and business moves are being framed as the plumbing that could let XRP settle large, institutional flows. Supporters Speak Up Flare CEO Hugo Philion has also downplayed the Western Union news, saying it does not undercut Ripple’s strategy. Based on reports from community figures, some engineers and analysts now say XRP could shift from a bridge token to a place people hold value. There will come a time where XRP and XRPL is just where you keep most of your wealth. That is called Treasury. Hint hint. — Vincent Van Code (@vincent_vancode) October 17, 2025 Vincent Van Code told followers that “a time will come when XRP and the XRP Ledger are just where you keep most of your wealth,” a view which mirrors comments by Ripple’s CTO David Schwartz about users acting as their own banks. Ownership Vs. Partnerships When a company owns a platform, it can choose how that tool grows. Reports show acquisitions give Ripple a steadier role in payments and trading services than a single contract would. Yet ownership does not guarantee instant change. Moving institutional flows onto a specific ledger is complex and can take time. Related Reading: Dogecoin Enters The Big Leagues — Stadium And Jerseys Get A Crypto Makeover What This Means Going Forward For now, the debate will track two threads. One asks whether wins like Western Union’s Solana deal signal broader market preference. The other watches whether Ripple’s purchases translate into actual settlement volume for XRP. Numbers such as $3 trillion, trillions across 160+ countries, and 10% of stablecoin payments give weight to the second view. But adoption at scale is not automatic, and observers will be looking for clear signs that those trillions are truly shifting toward the XRP Ledger. Featured image from Shutterstock, chart from TradingView
According to reports, Ripple is moving into corporate treasury services with an acquisition valued at $1 billion. The purchase, tied to a treasury management firm, has prompted some market educators to lay out aggressive price scenarios for XRP, including a top-end projection of $1,000+. Related Reading: Biggest Shiba Inu Burn In Months — And It Came From A Coinbase Account Ripple Hits Corporate Treasury A crypto educator who posts under the name “X Finance Bull” has mapped out a sequence of price milestones. Based on his outline, investors might see XRP trade near $2 to $3 in the immediate phase, climb to $5–$10 over a longer stretch, and reach $20–$100+ in a bullish expansion. The educator then presents a theoretical maximum of $1,000+ if XRP were to capture a major share of corporate treasury flows. These figures are being shared widely, often without the caveats that would temper expectations. ????THIS IS WHERE IT BEGINS! ???? $XRP is about to go parabolic to $1,000 and beyond! Ripple just acquired GTreasury for $1B This is a domino that sets off the biggest capital flow event in crypto history Make sure BUY every dips of $XRP! Here’s what most aren’t seeing ???????? pic.twitter.com/6qs5KjKWgp — X Finance Bull (@Xfinancebull) October 16, 2025 Why The Move Matters The logic behind the bullish scenario is straightforward at a glance. If Ripple ties its software and token into treasury operations used by large firms, demand for on-ledger liquidity could rise. Corporations handling cash, currency conversion, and liquidity tend to move very large sums. People in markets point out that tapping into those flows can change adoption dynamics for a token. Still, adoption at scale, legal clarity, and real usage patterns would all have to align for token prices to rise dramatically. Bull Case And Numbers Supporters highlight the $1 billion price tag of the deal as proof that Ripple sees enterprise opportunity. They argue that treasury customers could need fast settlement rails and that XRPL tools might fit into those processes. The educator’s projections include concrete bands: $2 to $3 early, $5–10 mid, and $20–$100+ later. But those bands assume broad corporate adoption and token demand patterns that are not yet proven. Market caps implied by a $1,000+ XRP would be orders of magnitude larger than today’s totals, unless the circulating supply shrinks or new economic models are introduced. Related Reading: Bitcoin Plunges To $105k As Investors Shift To Gold After Crypto Carnage Regulatory Signals Regulatory signals are a key variable. Courts and regulators have begun to clarify how tokens are treated in various jurisdictions, and that treatment will shape institutional appetite. Also important are integration details: how the token is used in treasury software, whether firms hold or simply pass through XRP, and how custody and risk models adapt to tokenized liquidity. Each of those steps can either support price appreciation or leave the token’s value marginal to enterprise operations. Featured image from Unsplash, chart from TradingView
According to multiple reports, Ripple Labs is organizing an effort to raise about $1 billion to build a new XRP treasury intended to hold a large stock of the token. Related Reading: Michael Saylor Issues Rally Cry To Bitcoin Army: “Starve The Bears!” The effort would use a special purpose vehicle to gather outside capital and combine it with XRP that Ripple itself may put into the fund. The plan is still being negotiated and has not been finalized. Plans To Raise $1 Billion Reports have disclosed that the $1 billion target would be raised through a SPAC-style vehicle, with Ripple expected to contribute part of its existing holdings. Ripple has already moved into corporate treasury tools, having announced a roughly $1 billion acquisition of GTreasury, a company that provides treasury management software for large firms. That deal, and the new fund idea, suggest Ripple is aiming to create a more formal structure for holding and managing XRP on a larger scale. Ripple leading effort to raise at least $1bil to accumulate xrp… New xrp-focused DAT. via @olgakharif pic.twitter.com/oUU7BOiy1J — Nate Geraci (@NateGeraci) October 17, 2025 Market Response And Risks Some market watchers have reacted with caution. Based on reports, XRP’s price fell by about 8% around the time these stories circulated, showing that big corporate moves do not always calm market swings. Holding large sums of XRP raises questions about how purchases would be executed without causing heavy price moves, and how the new treasury would be governed. Regulators and investors will likely watch the governance rules closely, especially since Ripple already controls large amounts of XRP and releases tokens on a monthly schedule from escrow wallets. Why Ripple Might Do This Supporters say a centralized treasury could provide clearer management of token reserves, and it might let Ripple show how XRP can be used in corporate finance arrangements. Critics warn that concentrating a big reserve in one vehicle could concentrate risk and invite extra scrutiny from regulators. Based on reports, Ripple’s move to pair a treasury plan with GTreasury’s tech could be aimed at selling treasury services to other companies that want to hold or use digital assets. Related Reading: Ethereum Beware — Analyst Says XRP’s Next Bull Run Could Be Deadly Structure And Transparency Questions Key details are still missing. Reports do not yet show how many XRP will be moved into the fund, what lockups or disclosure rules will apply, or who will control spending decisions. Those factors matter for investors and for how much trust the market will place in the new structure. Some sources in the coverage were anonymous, and terms can change before any formal announcement. Featured image from Unsplash, chart from TradingView
The proposed investment vehicle would be a publicly traded US company designed to buy and hold BNB, marking one of the largest single bets on BNB by a publicly listed entity.
The value of CEA's BNB holdings has moved to over $625 million, BNB itself reaching a new all-time high above $1,310.
The penny stock name said the investment will be used to purchase cryptocurrency to be held on the company balance sheet.
Metaplanet, a Japanese public company, bought 5,419 Bitcoin in a single purchase and climbed into the ranks of the world’s largest corporate holders. Related Reading: Ripple CTO Drops Bombshell: XRP At The Core Of Trillions In Banking Future According to reports, the buy pushed its total holdings to 25,555 BTC. That move now places the firm among the top five corporate Bitcoin treasuries. Large Purchase And New Ranking Reports have disclosed the purchase cost around $632.5 million, at an average price of about $116,724 per Bitcoin. Market watchers noticed the company surpassed exchange-backed treasuries to claim the fifth spot. The company’s average cost basis across all holdings is said to be roughly $106,000 per BTC. The scale is significant, and the shift in ranking was immediate. Metaplanet’s leap drew attention because the company did not make the purchase quietly. Based on reports, it has been raising capital specifically to buy more Bitcoin. The Japanese firm has announced plans to raise around $1.4 billion through share and warrant issuances and other offerings. Those funds are earmarked for additional accumulation. The target gives a sense of their appetite: they aim to hold 210,000 BTC by the end of 2027, a figure that would amount to roughly one percent of all Bitcoin expected to exist. Metaplanet has acquired 5419 BTC for ~$632.53 million at ~$116,724 per bitcoin and has achieved BTC Yield of 395.1% YTD 2025. As of 9/22/2025, we hold 25,555 $BTC acquired for ~$2.71 billion at ~$106,065 per bitcoin. $MTPLF pic.twitter.com/CBhZi2X9lE — Simon Gerovich (@gerovich) September 22, 2025 Funding Moves And Strategy According to reports, the company is using equity sales to fund accumulation, including special share offerings. That approach shifts the balance of risk onto shareholders when Bitcoin swings widely. Some investors welcome the bold plan. Others worry about dilution and how repeated capital rounds could affect existing holders. The strategy is straightforward: raise money, buy Bitcoin, repeat. Some actions were passive at first, then became aggressive as the company accelerated purchases. Market response has been mixed. Stock traders reacted with volatility. The company’s share price saw both gains and pullbacks after the announcement. Some analysts flagged the obvious tradeoff—large Bitcoin exposure can deliver big upside when BTC rallies, but it also amplifies losses during sharp declines. Still, Metaplanet has posted strong headline gains: one source reported a year-to-date yield near 395% tied to the move into Bitcoin, though that figure depends heavily on Bitcoin’s performance over the same period. Related Reading: Bitcoin Is ‘Digital Capital’ That Outpaces Traditional Assets—Michael Saylor Ambitious Targets And Risks Market watchers say reaching 210,000 BTC by 2027 would require continued capital raises and big market buys. Such a plan would keep Metaplanet in the headlines for months and years ahead. If Bitcoin stumbles, the company’s balance sheet and shareholder returns would be tested. Regulatory shifts could also change the calculus, especially in Japan and other major markets. Featured image from Unsplash, chart from TradingView
Forward Industries currently has the largest solana treasury among publicly traded firms with 6.8 million SOL.
The company has also begun staking its TON holdings, which total 217.5 million tokens, to earn rewards and generate yield.
SOL Strategies Inc., the company that grew out of Cypherpunk Holdings, made its Nasdaq debut this week under the ticker STKE. According to reports, the move converts the company’s Canadian listings into a US trading venue and gives American investors direct access to a firm that holds a sizable Solana treasury. Related Reading: Institutional Adoption Rises: 21X Brings Chainlink Into Europe’s Tokenized Securities Market The firm’s SOL holdings were valued at roughly $83 million–$94 million around the time of the listing, and SOL token prices were trading in the $214–$220 range as markets reacted. Nasdaq Debut And Trading Volatility According to market watchers, STKE opened around $12.85 on Nasdaq before tumbling to roughly $8.18 in early trades, showing heavy volatility in the first session. The company still maintains a presence in Canada, where it trades as HODL on the Canadian Securities Exchange, and its OTCQB shares (CYFRF) are being migrated into the Nasdaq listing. Reports have disclosed that the early price swings were driven by speculative flows and the usual market churn that follows a high-profile uplisting. A Bigger Picture On Holdings SOL Strategies has been built as a Solana-focused treasury and operational group. It runs validators, takes part in staking, and invests in projects inside the Solana ecosystem. The company’s holding size puts it among notable North American SOL treasuries, though some peers hold far more. For example, coverage shows Upexi Inc. holds about 1.9 million SOL, which was valued at roughly $319 million, while DeFi Development Corp holds about 1.18 million SOL, worth about $198 million at market rates cited in reports. Market Reaction And Investor Interest According to market coverage, the Nasdaq listing gave SOL Strategies fresh visibility and attracted both retail traders and institutional curiosity. The share-price swings were large enough to draw headlines, and trading volume spiked as investors weighed the risks and rewards of a treasury-backed crypto firm now trading on a major US exchange. Some traders treated STKE as a way to get indirect exposure to SOL, while others saw it as a pure equity play in a niche operator. Related Reading: Bitcoin Jumps Past $114K As Markets Eye Fed Easing After PPI Report Regulatory And Competitive Issues SOL Strategies is smaller than several competitors, raising questions about scale and sustainability if SOL volatility returns. Regulators and market watchers will likely keep a close eye on how crypto treasuries are presented to investors, and on disclosures about staking, validator income, and treasury management. Featured image from Google Images, chart from TradingView
The design firm turned digital-asset player secured backing from Galaxy Digital, Jump Crypto, and Multicoin Capital in what it calls the largest Solana-focused treasury financing to date.
The funds will be used to acquire an expected 3 billion ENA, according to StablecoinX, a dedicated treasury vehicle for the stablecoin protocol.
Dogecoin’s backers moved quickly this week to create what they call the first official DOGE treasury, pushing $175 million into a vehicle aimed at buying Dogecoin and bringing more institutional muscle to the token. Related Reading: Mastercard Stresses Crypto Is An Enhancement, Not A Substitute According to reports, the fund was set up through a private placement that issued 175,000,420 pre-funded warrants priced at $1 each, a structure meant to provide immediate capital for purchases. The plan has drawn big-name crypto firms and traditional investors. Funding And Structure Based on reports, the financing raised $175 million in total. Over 80 institutional and crypto-native investors are said to have taken part, with names like Pantera, GSR, FalconX, Mythos and Borderless listed among participants. The offering is expected to close around September 4, 2025, subject to regulatory approvals and the formal listing of the new warrants. CleanCore Solutions $ZONE is converting to become the first ever Dogecoin Treasury company in partnership with the House of Doge. Stock immediately plummets 59%. What a world. pic.twitter.com/xqHYHXixYu — Eric Balchunas (@EricBalchunas) September 2, 2025 The company tied to the move is CleanCore Solutions, which will house the program alongside a commercial arm called House of Doge. Markets reacted fast. CleanCore’s share price fell about 60%, sliding from roughly $6.85 to near $2.69 after the arrangement was disclosed. That drop reflected investor worries about dilution, execution risk, and how public markets would view a corporate play centered on a meme token. Trading in the warrants and the conversion mechanics were flagged by analysts as key details investors will watch closely. Leadership And Governance Reports have disclosed a noteworthy lineup of people and advisors. Alex Spiro, who has been publicly identified as an attorney for Elon Musk, is named to serve as Chairman of the Board at CleanCore. Timothy Stebbing, Director at the Dogecoin Foundation and CTO of House of Doge, will join CleanCore’s board, while Marco Margiotta, CEO of House of Doge, is slated to act as CleanCore’s Chief Investment Officer. Related Reading: Scam Tokens Prompt Shiba Inu Team To Issue Emergency Alert – Details The crypto-ETF firm 21Shares will advise on governance, capital allocation and strategy for the treasury. Those moves were described in filings and press releases tied to the deal. The effort aims to move Dogecoin from pure meme status toward something that can be held in a corporate reserve and used for payments, tokenization efforts, and other financial uses. According to statements circulating with the financing documents, the treasury would buy DOGE with the raised capital and could help create institutional-grade products around the token. Details about custody, trading rules and how purchases will be executed were not fully spelled out in initial disclosures. Featured image from Meta, chart from TradingView
The funding will be used to support SonicStrategy's treasury, validator operations, and blockchain investments, and can convert to common stock at $4.50 per share.
Tokenization of real-world assets (RWAs) is accelerating, bringing stablecoins, treasury bills, real estate and more into the crypto ecosystem, CZ added.
The sales' timing and amount will be determined by a variety of factors, including market prices, the company said.
Liquidity constraints pose a significant challenge for BTC bulls looking to engineer a steep uptrend well into the year-end.
Sentora's report warns that corporate adoption of bitcoin as a treasury asset is akin to playing 'balance sheet roulette.'
The reserve is funded through a process called Payment Abstraction and then automatically converts them into LINK, Chainlink said.
“Bitcoin was again approaching its 50-day moving average. Such frequent testing of the medium-term trend signal line indicates accumulated fatigue in the first cryptocurrency,” one analyst said.
Extending the BTC treasury plans to smaller altcoins has been described as "hugely speculative" and a "flash in the pan"