BTC Flirts with ATH

Bitcoin prices hit $122k late last night, flirting with the previous high of $123k. Media will tell you that the momentum falls on the heels of U.S. President Trump signing an EO that will make it easier for 401(k) retirement accounts to buy up digital assets. And while that’s true, the speed of the move suggests a short squeeze was also in play. With prices back at the brink, traders are eyeing tomorrow’s July CPI print — and the launch of David Bailey’s Nakamoto (more treasury fireworks) — to keep the momentum rolling.

Heritage Distilling (CASK) will become the first public company to hold the IP token – native to Story, a Layer 1 blockchain designed to tokenize and protect intellectual property in the AI era – as its primary reserve asset. The $340M treasury strategy comes via a $220M PIPE financing led by a16z crypto, Polychain, Arrington Capital, and others. Heritage will use $82M of the cash to buy IP tokens at a 47% discount (a fixed price of $3.40 per $IP token). Read more →

Trump’s DEFI project World Liberty Financial is aiming to raise $1.5B to establish a publicly traded treasury company that will hold its WLFI tokens. In short, WLFI will invest in Alt5 Sigma (ALTS), a Las Vegas-based company that swerved from chronic pain treatment into crypto payments, which will in turn buy WLFI tokens. This of course is all occurring just as lockups on WLFI for early backers are expiring. Trump’s and Witkoff’s will join the board. Other conflicts of interests abound. Read more →

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