14 May 2025, 19:19

Novogratz’s Galaxy Digital gets upgraded buy rating ahead of Nasdaq listing

H.C. Wainwright, one of the most prestigious financial firms in the U.S., upgraded Galaxy Digital’s price target to $39. Mike Novogratz’s Galaxy Digital Holdings is riding high ahead of its uplisting on Nasdaq. On Wednesday, May 14, financial firm H.C. Wainwright reaffirmed its Buy rating on Galaxy Digital, raising its price target from $30 to $39. The crypto financial services and AI infrastructure firm, owned by billionaire Mike Novogratz, currently trades at $32.09 per share. The decision came despite underwhelming financial results for the first quarter of 2025, when the firm posted a $295 million net loss . These were, as H.C. Wainwright explained, partially due to challenging macro conditions for crypto firms. However, the financial firm pointed to strong potential for growth in the short term, as well as the upcoming listing on Nasdaq , set for May 16. So far, Galaxy Digital has been listed on the Toronto Stock Exchange. You might also like: Bitcoin’s April gains reflect growing hedge appeal in policy stress, Galaxy Digital says Galaxy Digital has strong growth potential, analysts state A listing on a more prestigious exchange is a signal to investors about the prestige and trustworthiness of a company. At the same time, Galaxy Digital will benefit from the fact that it will be available on retail trading apps, including Robinhood and eToro. You might also like: The crypto bull run is here: top 3 altcoins to buy and hold What is more, the company is expected to benefit from the expected rebound in crypto assets in the second quarter of 2025. This is both due to the services it offers in the space, as well as its own crypto assets. “We believe Galaxy’s client-facing digital asset businesses and the company’s large crypto portfolio are poised to benefit from rising prices in 2H25, as the industry benefits from greater regulatory clarity and growing institutional adoption,” H.C. Wainwright. What is more, Galaxy Digital is expected to earn significant revenue from its AI data centers. For instance, the company has secured a contract with CoreWeave, worth approximately $13 million in revenues for the next 15 years. Read more: Bitcoin miners may find better returns in AI than crypto, Novogratz’s Galaxy Digital suggests

14 May 2025, 19:12

Tether Fuels Twenty One Capital Bitcoin Push with $458.7M Bet

Tether, the world’s leading stablecoin issuer, has taken another major step in its Bitcoin (BTC) strategy. The company recently bought $458.7 million worth of Bitcoin for Twenty One Capital, an investment firm focused on the flagship cryptocurrency. This move comes as Twenty One prepares to go public through a merger with Cantor Equity Partners. Tether Supports Twenty One’s Merger Plan According to a filing submitted to the U.S. Securities and Exchange Commission (SEC) on May 13, Tether purchased 4,812.2 BTC at an average price of $95,319. The Bitcoin was moved into an escrow wallet on May 9. With this new purchase, Twenty One now holds 36,312 BTC in total. Cantor Equity Partners is already holding 31,500 BTC on the firm’s behalf. After the merger is complete, the investment firm plans to go public and list its shares on the stock market under the ticker symbol “XXI.” Twenty One Becomes Third-Largest Corporate BTC Holder This latest acquisition makes Twenty One the third-largest corporate holder of Bitcoin. It is just behind Michael Saylor’s firm, Strategy, which owns 568,840 BTC, and MARA Holdings, which holds 48,237 BTC. Jack Mallers, Twenty One’s CEO, confirmed that the merger process is moving forward but did not give a specific date for its completion. Meanwhile, Tether is not the only major backer of Twenty One. The Bitfinex crypto exchange also has a stake in the company. Cantor Fitzgerald, a well-known financial firm, provides advisory services and has raised $585 million to help fund Twenty One’s Bitcoin strategy. In addition, Japanese tech company SoftBank has also invested $900 million into the firm. This adds to the growing list of companies SoftBank supports financially. Twenty One Takes Different Approach Twenty One is taking a different approach to measuring its value from most traditional companies. In its April presentation to the SEC, the firm explained that it will focus on Bitcoin-first operations. The company revealed that it will ignore standard financial metrics like earnings per share and instead use “Bitcoin per share” as its key performance measure. When it launches on the stock market, the company aims to hold 42,000 BTC. Previous filings show that Bitcoin contributions will come from Tether, SoftBank, and Bitfinex. Following the merger news, Cantor Equity Partners’ stock jumped from $10.65 to $59.73 on May 2, before falling back to $29.84. According to Google Finance, after the latest Bitcoin purchase was made public, the stock rose again by 5.2% in after-hours trading. The post Tether Fuels Twenty One Capital Bitcoin Push with $458.7M Bet appeared first on TheCoinrise.com .

14 May 2025, 19:05

Coinbase Settles $2.25 Million Class Action Over Dogecoin Sweepstakes Allegations, Subject to Court Approval

Coinbase finds itself in hot water, agreeing to pay $2.25 million to settle a class action suit over a Dogecoin sweepstakes from 2021. This legal entanglement highlights ongoing regulatory scrutiny

14 May 2025, 19:05

Ukraine's Parliament Explores National Strategic Bitcoin Reserve With Binance, Holding 40,000 BTC; MP Zheleznyak to Introduce Bill

Ukraine's parliament is exploring the creation of a national strategic Bitcoin reserve in collaboration with Binance, a leading cryptocurrency exchange. This initiative is part of a broader global trend where nations are integrating Bitcoin into their financial strategies. A Ukrainian Member of Parliament, Zheleznyak, has confirmed plans to introduce a bill to establish this reserve. Ukraine currently holds approximately 40,000 bitcoins, which the country intends to retain rather than sell. The move signals Ukraine's interest in leveraging its substantial Bitcoin holdings as part of its national financial assets. This is an AI-generated article powered by DeepNewz, curated by The Defiant. For more information, including article sources, visit DeepNewz . To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

14 May 2025, 19:02

Coinbase Finally Settles Dogecoin Sweepstakes Lawsuit

Coinbase and a marketing firm have agreed to pay $2,250,000 to settle a class action lawsuit related to a Dogecoin sweepstakes from 2021.

14 May 2025, 19:00

French minister summons crypto bosses after brutal kidnapping attempt

France’s interior minister has invited crypto leaders to discuss their security after several attempted and carried out kidnappings of people linked to the industry this year. The meeting follows the latest such incident on Tuesday when armed attackers tried to abduct the daughter and grandson of a crypto entrepreneur in the French capital. Minister calls emergency meeting over kidnapping attacks on crypto people French Interior Minister Bruno Retailleau will meet with cryptocurrency professionals later this week to talk about how to prevent future kidnappings after a string of attacks against relatives of persons dealing with crypto assets in France. Retailleau announced his decision to meet industry leaders a day after a brutal attempt to snatch a woman and her son from a street in Paris. The hit in the capital city’s 11th district, carried out by four masked men in broad daylight, was caught on camera. The victims, the daughter and the grandson of a crypto businessman, narrowly escaped the kidnapping after the woman and her partner resisted before passersby intervened to prevent them from being pushed into a van. All three were later hospitalized with minor injuries. “I will assemble businesspeople working in cryptocurrencies, and we have a few of those in France, at the interior ministry to work with them on their security and so that they become aware of the risks,” Retailleau told the French broadcaster Europe 1-CNews, and was also quoted by France 24 and AFP. France is dealing with a string of crypto-related kidnappings The couple and the child targeted by kidnappers this week are relatives of the co-founder and CEO of French cryptocurrency exchange platform Paymium, media reports revealed. The attempt to abduct the woman with her child and spouse is not the first of this kind since the beginning of the year. French crypto entrepreneur David Balland, co-founder of the crypto wallet firm Ledger, was kidnapped from his home in central France in January, together with his partner. Balland had a finger cut off by his attackers, who demanded a “large ransom in cryptocurrency,” according to a statement issued by the prosecutor’s office in Paris. The two were later freed with the help of GIGN , France’s elite police unit. Law enforcement authorities have since detained at least nine suspects in this case, including the alleged leader of the kidnapping group. Earlier this month, criminals kidnapped the father of another crypto entrepreneur, demanding up to €7 million in ransom. Police freed the man in a raid that resulted in the arrest of seven people. The victim’s son has been described by prosecutors as a crypto millionaire. Bruno Retailleau praised the work of French investigators who, in his words, “did an exceptional job in freeing this man and arresting his captors.” Speaking about the security of crypto bosses and their families on Wednesday, the interior minister emphasized the need for joint measures to protect them. “We will also find the perpetrators wherever they may be, perhaps even abroad,” he added after scheduling the meeting with the crypto businessmen for Friday. The current series of crypto kidnappings comes amid a rise in organized crime in France that the government in Paris has been struggling to control, French news outlets note, providing examples of other brazen attacks unrelated to cryptocurrencies. Cryptopolitan Academy: Coming Soon - A New Way to Earn Passive Income with DeFi in 2025. Learn More