The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
These days, it’s all about crypto treasury companies. Strategy just picked up another 6,220 BTC. Trump Media’s bitcoin stash has crossed $2 billion. The Ether Machine is heading to Nasdaq with $1.5 billion to spend on ETH. Mercurity plans a $200 million SOL treasury. GameSquare just bought 8,351 ETH after securing approval to deploy $150 million more into crypto. And DeFi Development Corp has boosted its Solana holdings to 999,999 SOL.
Crypto IPOs and acquisitions are gaining steam, too. BitGo has quietly filed to go public, while Polymarket is making moves to re-enter the U.S. with the acquisition of derivatives exchange QCEX.
Meanwhile, NFTs are showing signs of life again — the total market cap is back above $6 billion, helped by a whale buying 45 CryptoPunks for more than 2,000 ETH.
And in a long-awaited lift-off, Justin Sun is finally set to fly on Blue Origin, four years after bidding nearly $30 million for a seat.
NFT market tops $6 billion as whale sweeps CryptoPunks
The White House is expected to release its first crypto policy report, following a directive from President Trump’s executive order that established the Digital Asset Markets Working Group.
Notable token unlocks ahead for EigenLayer and IOTA.
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