Franklin doubles down on crypto
Franklin Templeton is buying 250 Digital, the CoinFund spinoff led by Chris Perkins and Seth Ginns, and folding it into a new unit called Franklin Crypto aimed at pensions, sovereign wealth funds, and other institutional investors. The deal includes the investment team and CoinFund’s liquid crypto strategies, with Franklin also investing in those strategies itself. Terms were not disclosed, and the transaction is expected to close in Q2 2026. The timing is also notable… instead of retreating during a slump, Franklin is doubling down on crypto, betting there is still demand for institutional-grade products. Read more →
Nakamoto Dumps Bitcoin at 40% Loss
Bitcoin treasury firm Nakamoto (NAKA) sold 284 BTC in March for $20 million at $70,422, well below its $118,171 average cost, according to a 10-K filing. The move came as bitcoin closed Q1 2026 down more than 24%, its worst quarter since 2022. Nakamoto's shares, down 41% year to date and trading below $1 since a Nasdaq delisting warning in December, rose 2% on the news. Read more →
Bitcoin comes to muni finance
New Hampshire’s proposed $100 million BTC-backed muni-bond moved a step closer to market after landing a Ba2 rating from Moody’s – below investment grade, but enough to push a highly unusual structure further along. The deal would let the New Hampshire Business Finance Authority issue two series of taxable bonds backed by BTC collateral posted by CleanSpark (CLSK), with bond payments funded from that collateral and potential extra payouts if bitcoin rises. There is downside protection too. For ex: if BTC falls below a set threshold, the trust can be liquidated to repay bondholders in full. Overall, this first-of-its-kind muni bond is attempting to fuse one of the market’s most volatile assets with one of its traditionally safer corners, and its why Moody’s kept the rating in junk territory. Read more →
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