The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Happy Tuesday! Memecoin influencer Murad Mahmudov once told us to "believe in something" as his public portfolio soared to an all-time high of $56 million in January. Now, with that same portfolio down over 80% to below $10 million, it seems that belief might just be that memecoins are largely worthless.
In today's newsletter, Sen. Cynthia Lummis reintroduces her strategic bitcoin reserve bill, Starknet developer StarkWare establishes a BTC treasury of its own, Bitwise launches a new ETF of corporate bitcoin hodlers and more.
Meanwhile, Axelar Foundation discloses strategic AXL token sales worth $30 million.
Let's get started.
Sen. Cynthia Lummis has reintroduced a bill called the "Boosting Innovation, Technology and Competitiveness through Optimized Investment Nationwide Act," or BITCOIN Act, to establish a Strategic Bitcoin Reserve, aligning with President Trump's recent executive order.
Blockchain scaling company StarkWare has established a "Strategic Bitcoin Reserve," committing to holding a growing portion of its treasury in BTC as part of its operational strategy.
Crypto asset manager Bitwise has launched its Bitcoin Standard Corporations ETF (OWNB) to track companies holding at least 1,000 BTC in their treasury.
Cboe BZX Exchange has filed a 19b-4 form with the Securities and Exchange Commission to allow staking in Fidelity's spot Ethereum ETF (FETH), aiming to enhance returns for investors.
Bitcoin Ordinals project Taproot Wizards is holding its first public sale of its Wizards NFT collection on March 25, with an initial tranche of whitelisted assets priced at 0.2 BTC and the rest sold via a Dutch auction.
Never miss a beat with The Block's daily digest of the most influential events happening across the digital asset ecosystem.
Disclaimer: This article was produced with the assistance of OpenAI’s ChatGPT 3.5/4 and reviewed and edited by our editorial team.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
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