Large tech companies that once denied Bitcoin as a balance sheet asset are now focusing on Strategy, led by Executive Chairman Michael Saylor, whose digital asset reserves are nearing the cash reserves of these companies. Recently, Bitcoin surged to a historic high of over $126,000, driven by investor demand for hard assets as a hedge against dollar depreciation, and this trend is increasingly seen as "digital gold."
However, it is not just Bitcoin that is attracting large institutional funds. The Intercontinental Exchange has invested $2 billion in the decentralized prediction platform Polymarket, which is valued at approximately $9 billion. This move indicates an acceleration in the integration of traditional finance with decentralized blockchain infrastructure, as institutions explore tokenized markets and predictions of real-world events.
Additionally, Tether is back in the headlines. The publicly listed AI company Rezolve AI has acquired the fintech platform Smartpay, which processed over $1 billion in USDt (USDT) transactions last year. This transaction highlights the expansion of stablecoins in the payment sector and the intersection of AI, blockchain, and digital dollars.
This week's Crypto Biz shows that institutional attitudes towards digital assets, prediction markets, and stablecoins in the financial sector are shifting from a wait-and-see approach to direct participation.
According to Strategy, earlier this week, the value of approximately 640,000 Bitcoins held by Strategy briefly surpassed $80 billion as Bitcoin prices reached new highs, nearing $126,000. This valuation brings the company's Bitcoin reserves close to the $95 billion to $97 billion in cash and equivalents held by Amazon, Microsoft, and Google's parent company Alphabet.
This milestone emphasizes the continuous rise in Bitcoin prices, driven by scarce supply, strong network fundamentals, and its appeal as a hedge against dollar depreciation, transforming Strategy's balance sheet into one of the largest corporate assets globally.
Meanwhile, the dollar is experiencing its worst annual performance in nearly fifty years, further intensifying market interest in alternative value storage tools like Bitcoin.
The Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, has made a strategic investment in the crypto prediction market Polymarket, with a post-investment valuation of approximately $9 billion. This $2 billion investment is one of the largest financings ever for a blockchain prediction platform.
As the operator of the world's largest market capitalization securities exchange, this transaction demonstrates growing institutional confidence in on-chain prediction markets as compliant forecasting and price discovery tools.
According to Dune data, Polymarket is expected to peak in activity during the 2024 U.S. presidential election, with its market tracking and accurately predicting the final results. The company is currently seeking to re-enter the U.S. market, collaborating with the Commodity Futures Trading Commission to explore compliance pathways and ensure regulatory adherence.
Rezolve AI, a publicly listed e-commerce and AI platform, has acquired the fintech infrastructure company Smartpay, known for its stablecoin trading capabilities, with the terms of the acquisition undisclosed. This transaction underscores the accelerated integration of digital assets and artificial intelligence.
This move strengthens Rezolve's partnership with Tether (the issuer of the USDt stablecoin) and leverages Smartpay's growing transaction volume, which processed over $1 billion in USDt payments in the past 12 months.
The Smartpay platform is primarily active in Latin America and Central Africa, providing consumers with stablecoin payment options and merchants with local currency settlement services. This acquisition helps Rezolve expand its business in emerging markets, where the adoption of stablecoins is rising due to currency volatility and limited traditional banking channels.
According to WatcherGuru, Plume Network, a Layer 2 blockchain focused on the tokenization of real-world assets (RWA), has now registered as a transfer agent with the U.S. Securities and Exchange Commission. This move highlights the ongoing integration of blockchain technology into traditional financial infrastructure and its active adaptation to the evolving regulatory environment.
As a registered transfer agent, the organization can manage key backend functions for securities issuers, including recording ownership changes, maintaining shareholder records, and facilitating transfers. Plume states that it will move these processes on-chain in the future, bringing greater transparency and efficiency to tokenized assets.
With this registration, Plume successfully joins the ranks of blockchain companies seeking alignment with U.S. securities regulations. This also reflects the SEC's focus on the RWA sector, which has already achieved billions of dollars in tokenized value across assets like government bonds and private credit.
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