21 May 2025, 08:45

Strive Targets Mt. Gox Bitcoin Claims to Boost Treasury Ahead of Reverse Merger

Strive, the investment firm founded by former U.S. presidential candidate Vivek Ramaswamy, is positioning itself as a major Bitcoin player by acquiring distressed crypto assets, starting with claims tied to the infamous Mt. Gox exchange. In a regulatory filing submitted on May 20, Strive revealed its plan to purchase claims representing up to 75,000 Bitcoin, aiming to expand its crypto holdings at a discount. Strive Eyes Discounted Bitcoin Partnering with 117 Castell Advisory Group LLC, Strive intends to target legally settled Bitcoin claims that are yet to be distributed. These claims, primarily from the defunct Mt. Gox platform, offer a unique opportunity for Strive to acquire Bitcoin well below current market prices. The firm is leveraging this strategy to boost its Bitcoin-per-share metric before completing its reverse merger with social media marketing company Asset Entities (ASST), which is anticipated to close mid-year. While Strive has yet to publicly disclose any existing Bitcoin holdings, it asserts that it will encounter fewer restrictions on acquiring Bitcoin than other firms going public via SPACs. The company emphasized that it will require shareholder approval to proceed with the Mt. Gox claim purchases. A detailed proposal outlining the terms will soon be filed with the U.S. Securities and Exchange Commission (SEC), followed by a proxy statement for shareholder consideration. With Mt. Gox trustee expected to finalize creditor repayments by October 31, time is of the essence for Strive to secure its position. The now-defunct Japan-based exchange was once the world’s largest Bitcoin trading platform before collapsing in 2014 following a massive security breach that resulted in the loss of around 750,000 Bitcoin. Merger Buzz Lifts Asset Entities Shares The reverse merger with Asset Entities has already sparked excitement in the market. On May 20, ASST shares surged 18.2% to $7.74, pushing its market cap to $122.1 million, according to Google Finance data. Since the merger was announced on May 7, Asset Entities’ stock has skyrocketed 1,170%. Once the deal is finalized, Strive is expected to own 94.2% of the newly combined company, with Asset Entities retaining 5.8%. The merged firm will continue operating under the ASST ticker, reflecting the company’s strategic shift toward becoming a dedicated Bitcoin treasury company. This move aligns with broader industry trends seen in firms like Twenty One Capital, which also aim to hold substantial Bitcoin reserves . The post Strive Targets Mt. Gox Bitcoin Claims to Boost Treasury Ahead of Reverse Merger appeared first on TheCoinrise.com .

21 May 2025, 08:38

SEC’s Peirce says NFT royalties do not make tokens securities

United States Securities and Exchange Commission (SEC) Commissioner Hester Peirce said many non-fungible tokens (NFTs), including those with mechanisms to pay creator royalties, likely fall outside the purview of federal securities laws. In a recent speech, Peirce said NFTs that allow artists to earn resale revenue do not automatically qualify as securities. Unlike stocks, NFTs are programmable assets that distribute proceeds to developers or artists. The SEC official said that mirrors how streaming platforms compensate musicians and filmmakers. “Just as streaming platforms pay royalties to the creator of a song or video each time a user plays it, an NFT can enable artists to benefit from the appreciation in the value of their work after its initial sale,” Peirce said. Peirce added that the feature does not provide NFT owners any rights or interest in any business enterprise or profits “traditionally associated with securities.” SEC never prohibited NFT royalties Oscar Franklin Tan, chief legal officer of Enjin core contributor Atlas Development Services, told Cointelegraph that the recent remarks by Peirce on NFTs and creator royalties have been widely misunderstood. Peirce had clarified that NFTs that send resale royalties to artists are not necessarily securities, a view Tan says is legally sound but mischaracterized in some media reports. “So Hester Peirce said that an NFT that sends royalties back to the creator after a sale is not a security. This is correct, but the way some media reported this is completely out of context,” Tan told Cointelegraph. “The actual context is that this is not controversial, and it was never considered a security.” The lawyer said US securities law focuses on regulating investments and not compensating creators for their work. “The artist or creator is not an investor, not a passive third party in the NFT,” he said, noting that royalty payments are not considered investment income. Instead, Tan told Cointelegraph that this type of earning is “analogous to business income,” which the SEC does not regulate. He added: “The SEC never prohibited contracts where artists and creators get royalties from secondary sales of their work, not royalties from paper contracts or blockchain protocols.” Tan explained that the legal distinction becomes more complicated when NFTs promise shared profits from royalties to multiple holders beyond the original creator. Tan also urged regulators and market participants to apply traditional legal reasoning to new blockchain technologies. “Ask yourself, if this were done by pen and paper instead of blockchain, would there still be a regulatory issue?” he said. “If none, slow down.” Source: Oscar Franklin Tan Related: SEC charges Unicoin crypto platform over alleged $100 million fraud OpenSea calls on the SEC to exempt NFT marketplaces from oversight While NFT royalties may not have been a controversial SEC issue, NFT marketplaces are a different case. In August 2024, NFT trading platform OpenSea received a Wells notice from the SEC, alleging that NFTs traded on the marketplace could qualify as unregistered securities. On Feb. 22, OpenSea CEO Devin Finzer announced that the SEC has officially closed its investigation into the platform. The executive said that this was a win for the industry. Following the conclusion of the SEC’s investigation, OpenSea’s lawyers penned a letter to Peirce , who leads the SEC’s Crypto Task Force. OpenSea general counsel Adele Faure and deputy general counsel Laura Brookover said in an April 9 letter that NFT marketplaces don’t qualify as brokers under US securities laws. The lawyers said the marketplaces don’t execute transactions or act as intermediaries. The lawyers urged the SEC to “clearly state that NFT marketplaces like OpenSea do not qualify as exchanges under federal securities laws.” Magazine: NBA star Tristan Thompson misses $32B in Bitcoin by taking $82M contract in cash

21 May 2025, 08:28

KindlyMD shareholders approve Bitcoin pivot via Nakamoto Holdings merger

KindlyMD shareholders have approved a merger with Bitcoin holding firm Nakamoto Holdings, paving the way for the creation of a publicly traded Bitcoin-focused conglomerate. According to a May 20 announcement from the U.S.-based healthcare services provider, both companies will now file information statements with the Securities and Exchange Commission. The merger is expected to close 20 days after these disclosures are shared with shareholders. Completion is targeted for the third quarter of 2025. Nakamoto Holdings, led by Donald Trump’s crypto adviser David Bailey, is a newly formed entity that seeks to consolidate Bitcoin-native businesses under one umbrella. The deal gives Nakamoto Holdings a Nasdaq-listed vehicle to pursue its goal of turning Bitcoin into a foundational asset across global capital markets. The merged firm plans to scale its Bitcoin holdings per share, a concept Bailey refers to as “Bitcoin Yield,” through equity, debt, and hybrid offerings. You might also like: Bitcoin dominance hits key resistance zone: is alt-season around the corner? Though KindlyMD will continue operating its clinics focused on opioid reduction and alternative therapies, the new entity’s core focus will be financial, not medical. “We are grateful that KindlyMD shares our vision for a future in which Bitcoin is a core part of the corporate balance sheet, and investors across global capital markets have exposure to the world’s greatest asset and store of value,” Bailey said in an accompanying statement. The companies first announced the proposed merger on May 12. At the time, they described plans to launch a network of Bitcoin-native firms while using the merged balance sheet to accumulate BTC. Details of the merger were announced alongside a $710 million capital raise, with Nakamoto securing $510 million through a private placement and $200 million via convertible notes, which, according to Nakamoto, was the largest PIPE in any public crypto-linked transaction to date. Bailey, who will become CEO of the merged entity, has likened his vision to building a modern counterpart to the Rothschilds or Morgans, except with Bitcoin as the reserve asset. “Every balance sheet, public or private, will hold Bitcoin,” he said at the time. News of the merger sent shares of KindlyMD (KDLY) soaring more than 650% in premarket trading when it was first announced. Shares closed May 20 at $15.22, up 9% on the day, and climbed another 4.8% in after-hours trading. KDLY is now up over 979% year-to-date. Bitcoin’s growing role as a treasury asset With Bitcoin gaining traction as a corporate treasury asset, the KindlyMD–Nakamoto merger adds to a broader wave of public companies across the globe that have integrated Bitcoin into their financial strategies. In the healthcare space, Basel Medical Group entered exclusive talks to buy up to $1 billion worth of Bitcoin earlier this month, while Semler Scientific has also joined the trend , and has been consistently building a sizable Bitcoin stash, holding 3,808 BTC as of May 21. Meanwhile, in Latin America, Brazilian fintech Méliuz became the first publicly traded company in the region to adopt Bitcoin as a treasury asset, following shareholder approval earlier this month. Over in the Middle East, Al Abraaj Group kicked off its Bitcoin strategy with an initial 5 BTC purchase, while signalling plans to acquire more. Strategy—formerly MicroStrategy—was the first major public company to adopt Bitcoin as a primary treasury asset back in 2020, effectively popularizing the corporate Bitcoin playbook. Recently, the firm disclosed a fresh $765 million purchase, adding 7,390 BTC to its balance sheet. Read more: Americans want to ditch gold reserves for Bitcoin? New survey raises eyebrows

21 May 2025, 08:23

SEC Charges Unicoin for Misleading Investors Amid Shifting Regulatory Landscape

Did flashy marketing really help Unicoin hide what the SEC now calls a major investor deception? SEC charges Unicoin for misleading investors and falsely claiming $3 billion in sales. Over

21 May 2025, 08:20

How To Buy Cryptocurrencies in India

The post How To Buy Cryptocurrencies in India appeared first on Coinpedia Fintech News India is becoming a global crypto powerhouse with over 100 million active users expected in 2025. If you are confident to start your crypto journey in India, here is a step-by-step guide. Buying crypto via a centralised crypto exchange– Step 1 – Choose an exchange and create an account You can start by signing up for any of the centralised exchanges that support INR. Remember, different exchanges offer different coins, so check if your chosen platform supports your preferred crypto before signing up. There are many choices available, like CoinDCX, CoinSwitch, Mudrex, Binance, WazirX, etc. You will need to submit personal details like Name, Date of Birth, contact details, and a valid email address. Opt for exchanges registered with India’s Financial Intelligence Unit (FIU) to ensure compliance with anti-money laundering regulations. Step 2 – Complete the KYC Process As part of the KYC requirements, the exchange will also need your PAN and Aadhaar details. You may also need to submit photographs of both cards. Step 3 – Deposit Funds Next, you need to deposit Indian rupees (INR) into the exchange with the Deposit INR button. If you don’t see that option, you can use a bank transfer or UPI for the deposit. Step – Choosing the Crypto Finally, choose which cryptocurrency you wish to buy. Depending on the exchange, navigate to the buy or trade section, select the cryptocurrency that you want to buy, and confirm your purchase. Your crypto will then be added to your exchange wallet. Crypto Regulations in India Crypto in India is treated as a Virtual Digital Asset (VDA), and profits are taxed at 30% plus a 4% health cess. A 1% TDS is also applicable on crypto sales above ₹50,000 (or ₹10,000 for small investors). You pay 30% tax only when you sell or swap crypto. Holding crypto without making a transaction doesn’t trigger any tax. Owning crypto is legal in India as users can buy, sell, trade, and hold crypto freely. However, crypto is not recognised as legal tender and operates outside the traditional banking system. India lacks a clear regulatory framework, but traders still actively engage with crypto and other assets like NFTs.

21 May 2025, 08:12

SEC Delays Crypto ETFs, Favoring Cautious Assessment

The SEC postponed spot ETF decisions on XRP, Solana, and Dogecoin. Public opinions will be included in the SEC's evaluation process. Continue Reading: SEC Delays Crypto ETFs, Favoring Cautious Assessment The post SEC Delays Crypto ETFs, Favoring Cautious Assessment appeared first on COINTURK NEWS .