Public acquires Alto

A new investigative report from Unchained explores how influencer Anthony Pompliano could make as much as $400 million from his BTC treasury SPAC ProCap through a multi-layered compensation structure. “And if the stock drops — even if it plunges 75% — he could still make tens of millions,” states the report.

This highlights a bit of a problem with all of the DATs that have been launching recently with built in incentive arrangements. Every dollar that is not spent on acquiring tokens ultimately reduces the mNAV. And while Pomp isn’t alone in structures like this, he is the one of the most influential (and loudest) promoter. This is the same person that has a track record of pumping things that enrich him to the detriment of investors. Read more →

To start, the bitcoin mining industry generates about 100 TWh of heat annually — enough to heat all of Finland. And most of that gets wasted or just vented into the air. This had led to innovations like a $900 space heater that doubles as a BTC miner and companies like Softwarm, currently providing rigs to a local car wash in Idaho. The reality is that the economics are still super volatile and probably only makes sense at scale. So cool idea, but just not a silver bullet for every household. Read more →

Investment platform Public announced last week that is has acquired the crypto arm of Alto for $65 million (in cash and stock). Alto is one of only a handful of companies that allowed users add alternative assets, such as crypto, to their retirement accounts. Alto’s crypto arm, which had roughly $600 million in AUM, will be fully integrated into Public by 2026. Read more →

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