Coinbase brings back ICOs

Crypto asset prices have started to bump higher after a surprisingly solid weekend of headlines. First, senators just voted to end the shutdown. This lets the SEC/CFTC get back to work on ETF approvals and rulemakings (the kinda boring regulatory progress stuff that can actually unlock flows). Second, Trump is hinting at another round of stimulus. The prospect of the U.S. government returning to sending payments directly to people has sparked speculation it could boost the bitcoin price and crypto market in the same way the Covid-era stimulus checks did. Read more →

Jim Chanos has officially closed his widely watched short MSTR / long BTC position, doubling his money by betting that Strategy’s mNAV premium would compress while bitcoin rose. That’s exactly what happened – MSTR’s premium fell from >3x last Nov. to 1.23x at exit, while BTC has gained ~25%. Chanos pointed to ongoing equity issuance to fund BTC buys as the catalyst. His exit quietly poses the next question: Do premiums stabilize or even rebound from here? Who knows. Chanos did note to his investors that this “thesis has largely played out,” but he still thinks MSTR will “inevitably” march towards 1x mNAV. Read more →

Coinbase (COIN) is launching a new platform that will allow investors to purchase tokens before they would be traditionally available to trade on the exchange. Anyone who remembers the good ‘ol days of ‘17-’18, when the ICO craze was in full effect may be a little suspect of this idea, but Coinbase aims to take all the best aspects of ICOs and provide them in a safer way. How? Like traditional IPOs: By limiting how much/how quickly insiders and founders can sell their tokens.

Coinbase plans to host a token sale monthly, with the first in partnership with Monad coming next week. Read more →

📥️ Want to advertise in CoinSnacks? Learn More