Activist Warns Against Pomp's DAT

After sinking to an all-time low near $2.75, the team behind TRUMP launched a second holder-gala promotion – this time offering the top 297 holders invites to an April conference and luncheon at Mar-a-Lago, with the top 29 also getting a VIP reception and champagne toast with Trump. The token initially bounced, then surged as much as ~59% overnight to around $4.40 as large wallets reportedly scooped up millions of tokens. Zoom out and the whole thing still looks pretty absurd – TRUMP remains down roughly 94% from its peak. Read more →

An activist investor is urging ProCap Financial (BRR) shareholders to reject a merger with CFO Silvia, a five-month-old startup with zero revenue, arguing the deal would dilute their claim on the company's 5,400+ Bitcoin treasury.

The real problem? The earnout is tied to ProCap's stock price hitting $9 – not CFO Silvia's performance – meaning if Bitcoin appreciates (as the CEO himself has predicted), shareholders hand away future gains to insiders of an unproven company. Add in a conflicted CEO on both sides, a director's unexplained mid-process resignation, and a fairness opinion with no DCF analysis, and the activist sees a governance failure. Shareholders vote March 27. Read more →

BlackRock’s new iShares Staked Ethereum Trust (ETHB) quietly started trading yesterday, launching with just over $100 million in assets and ~$15.5 million in first-day volume – a “very very solid” debut, according to Bloomberg’s James Seyffart.

While ETHB isn’t the first staked Ether ETF, what makes it notable is who is doing it. BlackRock is now pairing its massive ETF distribution with Ethereum’s staking yield, giving investors a yield-generating alternative to ETHA, its plain-vanilla spot Ether fund. Read more →

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