Kalshi Passes $2 Billion in Revenue, Holds IPO Talks
According to new reporting from The Information, Kalshi has held informal talks about an IPO. Acording to the report, Kalshi has also surpassed $2 billion in annualized revenue, up from the $1 billion annualized revenue run rate reported by the WSJ in only March. This is all ocurring as the company has been scaling rapidly, raising $1 billion in a Series F round in May, bringing its valuation to $22 billion. Read more →
ETFs that turn dividends into BTC
Franklin Templeton is trying to put a crypto twist on the old DRIP. In an SEC filing, the asset manager registered two proposed ETFs that would use corporate dividends to buy bitcoin exposure. The Franklin U.S. Equity Bitcoin DRIP Index ETF and the Franklin U.S. Innovation Bitcoin DRIP Index ETF each hold a basket of U.S. stocks, a large-cap 500 index for one and an innovation 100 index for the other, then systematically reinvest the dividends those companies pay into Bitcoin, rather than back into the shares. Read more →
Bitcoin transactions are getting smaller
Bitcoin’s network is getting busier, but not because whales are suddenly moving huge amounts of BTC. According to CryptoQuant, transactions below 0.01 BTC – about $630 – now make up ~80% of Bitcoin’s daily transaction count, up from about 44% in 2023. The surge appears to be driven mostly by tiny, automated transactions that use Bitcoin’s blockchain to record small bits of data, rather than large payments or major transfers. Read more →
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