Zcash miner proposes merger, sends Nasdaq stock soaring despite rough month for ZEC
Digital Currency Group founder and CEO Barry Silbert isn’t giving up on Zcash despite it having a rough couple of weeks. Yesterday, DCG’s subsidiary and Zcash miner, Fortitude Mining, announced it wants to merge with a small-cap Nasdaq stock, HeartSciences (HSCS). Although the merger might look like other digital asset treasury companies, DCG stresses this one is different due to Fortitude being an operating company that has been mining Zcash since 2019. Though, interestingly, as of today they don’t really hold any on their balance sheet. Read more →
Mark Zuckerberg Wants a Prediction Market Too
Zuck seems to have a love/hate relationship with crypto. NFTs… stablecoins… metaverse… he’s tried them all. And now, he wants a prediction market. According to the NYTimes, Meta is reportedly experimenting with “Arena,” a prediction-market platform. The app would be separate from Facebook, Instagram, WhatsApp, and Messenger and will be modeled after Polymarket and Kalshi, initially using a points-based system rather than real-money wagering, though future monetized participation has not been ruled out. Read more →
Saylor wants $100 STRC — the market says different
Strategy’s preferred stock, STRC, is supposed to trade near $100. It just closed around $84. That matters because STRC is one of the ways Michael Saylor’s company raises money to support its bitcoin-heavy balance sheet, and the stock’s dividend is designed to rise when the market price falls too far below par. STRC already pays an 11.5% annualized dividend, and if the weakness continues, Strategy may need to push that closer to 12% to lure buyers back in. Read more →
📥️ Want to advertise in CoinSnacks? Learn More