Gemini IPO

Figure Technology Solutions (FIGR) shares opened up more than 40% to $36 yesterday, causing the blockchain lender’s valuation to surge to $7.6 billion. Later today, we’ll see another crypto exchange go public in Gemini which is being priced at $28 per share for a $3.3 billion valuation. Gemini’s IPO will go a long way in telling us how Kraken’s potential IPO will go. Read more →

First, it was Matthew Hougan from Bitwise calling for a year-end bull run for Solana. Then, it was Galaxy's Mike Novogratz saying the crypto market is entering a "season of Solana," pointing to strong market momentum and favorable regulatory signals. And with SOL up ~15% in the last 7 days, once again surpassing BNB in market cap, both so far appear to be spot on. The institutional bid just got real, too. Yesterday Galaxy Digital, Jump, and Multicoin closed a $1.65B PIPE to convert Forward Industries (NASDAQ: FORD) into a Solana digital-asset treasury company, with Kyle Samani as chair – effectively creating a permanent-capital buyer of SOL akin to the MicroStrategy playbook. Read more →

Coinbase has filed a federal court motion demanding accountability after the SEC deleted nearly a year’s worth of text messages from former Chair Gary Gensler during the agency’s crypto enforcement campaign. "The Gensler SEC destroyed documents they were required to preserve and produce,” Coinbase Chief Legal Officer Paul Grewal tweeted Thursday. “We now have proof from the SEC's own Inspector General." Read more →

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