Crypto Treasury Firms Go on $8B Buying Spree in Historic Week

Marti, a Turkish ride-hailing company, has put 20% of its cash into Bitcoin and plans to increase that to 50%. The move is part of a long-term plan to use crypto as a store of value while keeping its main business growing.
eToro has started offering tokenised US stocks on Ethereum and is planning to build its own blockchain. This would let users trade shares like crypto and use them in decentralised finance.
The US SEC has approved in-kind trading for Bitcoin and Ethereum ETFs, letting firms trade crypto directly instead of using cash. This change is expected to cut costs, improve trading, and make it easier for big investors to enter the crypto market.
Ozzy Osbourne’s NFT collection CryptoBatz saw a big jump in sales and price after news of his death. Trading volumes surged over 100,000% in one day, briefly raising the floor price to around $295.
JPMorgan is planning to let clients borrow money using crypto like bitcoin and ether as collateral. This comes as rules around digital assets in the US become clearer and demand from wealthy clients grows.
The SEC Chairman said Ethereum is not considered a security, which has encouraged companies to increase their Ethereum holdings. This clear regulatory view has helped boost Ethereum’s price and sparked more interest from investors and firms.
ChatGPT said: Shinhan Bank has added cryptocurrency tracking and educational tools to its SOL app, becoming the first South Korean bank to offer such services. The move signals growing acceptance of crypto in traditional banking, with plans to expand into crypto purchases and wallet management soon.
Vitalik Buterin urged developers to simplify Ethereum Layer 2 networks by using Ethereum’s base layer for security and consensus. He said projects should stop rebuilding features Ethereum already provides and focus only on processing and verifying transactions.
Standard Chartered has started offering bitcoin and ether spot trading directly to institutional clients through its UK branch. This makes it the first major global bank to provide regulated crypto trading using existing foreign exchange systems.
A Singapore court granted WazirX a four-month conditional moratorium after its July hack, which led to a $234 million loss. The exchange initially requested six months but received a shorter relief period under specific conditions to address its financial situation.
Meta is revamping its metaverse avatars with a major update launching on October 1st, allowing users to customize features like eye size and body types. Future updates will include AI-generated avatars and new options for fantasy characters, enhancing user experience in the metaverse.
A scam targeting cryptocurrency investors in Hong Kong has led to losses of HK$14.8 million, with victims tricked into making transactions at fake exchange shops. One businessman lost HK$4 million after realizing he was locked inside a shop while scammers escaped with his money.
China announced a "policy bazooka" on Tuesday, introducing measures to boost its economy, including cuts to mortgage rates, the reserve requirement ratio, and new stock market support tools. The key question: will this stimulus boost crypto or push interest towards cheaper fiat currencies?
LINE NEXT has launched “Super Mates,” an app that allows fans to interact with AI-driven avatars of their favorite artists in English, Korean, or Japanese. To celebrate, they’ve partnered with K-pop group aespa, offering exclusive rewards and merchandise while inviting users to engage in various activities until October 2024.
At the TOKEN 2049 Summit in Singapore, BONK, a meme coin under the US blue-chip public chain Solana, announced that it would launch an ETP and hinted that an ETF might be launched in the future. The token has skyrocketed by more than 8,788% in one year.
A report by crypto analysis company Chainalysis shows that China's over-the-counter cryptocurrency transactions attracted $75 billion, and about 55% of over-the-counter cryptocurrency transactions exceeded $1 million.
The TUSD stablecoin has been decoupled from the US dollar in the short term, and the decentralized exchange Curve Finance has removed TUSD from its stablecoin crvUSD collateral. After BUSD encountered US regulation, Binance Exchange has stepped on the thunder for the second time and has stopped Launchpool support for TUSD.
Donald Trump proposed that the U.S. national debt of $35 trillion could be eliminated with cryptocurrency, sparking laughter at a recent event and raising questions about his understanding of economic policy. His comments reflect a broader trend among political figures to simplify complex fiscal issues, highlighting a disconnect between rhetoric and reality in the discussion of national debt.
Onyx Protocol recently lost $3.8 million in a hack exploiting a known vulnerability in its forked Compound V2 code. Attackers targeted empty markets, echoing similar breaches in other Compound forks, highlighting ongoing security concerns in DeFi. This is not Onyx Protocol's first breach.