“Something Could Happen”
Trump’s bitcoin reserve is now stuck in classic Washington mode – good headline, messy execution. Bloomberg reports that his strategic bitcoin reserve is facing legal and jurisdictional questions, including whether Treasury or Commerce should oversee it and whether the government can hold seized BTC long term. Separately, Trump was asked whether bitcoin could ever be included in the new Trump Accounts savings program for children. He didn’t commit, but said “something could happen” and called himself a “big crypto guy.” Read more →
Tether's former CIO seeks buyers for part of his stake in the firm
Former Tether CIO Richard Heathcote is seeking buyers for part of his 1.26% stake in the stablecoin issuer. While that may not seem like a large stake, for one of crypto’s most important companies, and one that was just recently raising money at a $500 billion valuation, the more than $6 billion stake will make waves in both the sale and who potentially acquires it. Read more →
Galaxy completes Helios Phase I
Galaxy Digital (GLXY) announced yesterday that Phase I of its Helios data center buildout in West Texas is complete, delivering 133 megawatts of critical IT load to CoreWeave under a 15-year lease. Phase II is already under construction, with another 260 megawatts of critical IT load expected to start coming online in the first half of 2027. Across Phases 1-3, CoreWeave has committed to 526 megawatts under long-term leases that Galaxy expects to generate more than $1 billion in average annual revenue. Read more →
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