Fold Shares Jump 162% After Selling $45 Million in BTC
Fold Holdings (FLD), jumped more than 160% yesterday after announcing that the company had sold $45 million in BTC from it’s treasury to eliminate all secured debt and free up $25 million for growth. Founded in 2019, Fold was one of the first companies to offer a BTC-linked credit card as well as one of the first to really highlight it’s BTC treasury. Prior to this sale, the company had ~826 BTC on it’s balance sheet, so at $71,000 per bitcoin, the $45 million transaction implies Fold liquidated roughly 634 bitcoin. Despite the rally, shares remain down 58% YTD. Read more →
Figure Buys Kiavi for $717 Million
Blockchain startup Figure has agreed to purchase Kiavi, an AI-powered real estate lending platform for residential real estate investors, in a $717 million deal as the company expands its tokenization push. As a part of the deal, investment firmSixth Street is joining joining the deal and will purchase Kiavi's balance sheet assets. Kiavi generated $250 million in revenue last year and will operate within Figure's blockchain-based marketplace. Read more →
Community Banks push back on Clarity
Community banks are turning up the heat on the Clarity Act. The Independent Community Bankers of America launched a new ad campaign attacking compromise language that would still allow certain stablecoin rewards, arguing crypto firms are getting a “free pass” that could pull deposits away from local banks… and that “American families don’t want experiments with their money." The campaign comes as the broader bill is still trying to clear two other snags – ethics rules tied to Trump’s crypto businesses and law enforcement concerns over developer protections. Read more →
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