Tag: Digital

Ripple to acquire $1B in XRP through SPAC-led digital treasury move

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Ripple Labs is reportedly on the cusp of launching a fundraising effort to purchase $1 billion worth of its XRP token to hold in a digital asset treasury, according to Bloomberg. The fundraiser is being organized through a special purpose acquisition company or SPAC, Bloomberg reported on Friday, citing anonymous people with knowledge of the matter. The digital asset treasury (DAT) will consist of the freshly bought XRP (XRP) and Ripple will also throw in some of its own stockpile, but the exact terms of the transaction are still being…

NYC Mayor Signs EO Establishing Digital Assets and Blockchain Office

New York City Mayor Eric Adams announced the establishment of a municipal digital assets and blockchain office in a bid to cement his crypto agenda in the final months of his term. In a Tuesday notice from the mayor’s office, Adams said he had used an executive order under his authority to create the Office of Digital Assets and Blockchain Technology. Moises Rendon, who has worked as a digital assets and blockchain policy adviser for New York City since April 2024, will head the newly established office. “Our city has…

Kenya Parliament Passes First Digital Assets Bill as African Crypto Adoption Surges

Key Notes The bill assigns the Central Bank of Kenya authority over stablecoins and digital asset licensing under new regulations. Kenya ranks fourth in African crypto adoption, following Nigeria, Ethiopia, and Morocco with growing market presence. Stablecoins represented 43% of Sub-Saharan African crypto transactions in 2024 amid rising continental adoption. Lawmakers in Kenya have signed off on a bill to establish a regulatory framework for cryptocurrency and other digital assets. The new law, called the Virtual Asset Service Providers Bill, would place the Central Bank of Kenya in the role…

Galaxy Digital Raises $460 Million to Dump Bitcoin Mining for AI

Key Notes Mike Novogratz’s Galaxy Digital recently received a $460 million private investment to transform its Bitcoin mining facility into an AI data center. The investment was from one of the world’s largest, but anonymous, asset managers. Galaxy Digital plans to commit some funds to its Helios deal in the long term. In a bid to make an Artificial Intelligence (AI) data center out of its former Bitcoin mining site in Texas, Galaxy Digital has secured a $460 million private investment. According to sources familiar with the matter, the…

Galaxy Digital Raises $460M to Build Texas AI Data Center

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Mike Novogratz’s Galaxy Digital has secured a $460 million private investment from one of the world’s “largest asset managers” to accelerate the transformation of its former Bitcoin mining site in Texas into an AI data center. The deal involves the purchase of 12.77 million Class A shares at $36 per share, with the proceeds earmarked for general corporate use and the expansion of its Helios campus, expected to deliver 133 megawatts of IT capacity in early 2026, the company announced Friday. “Having one of the world’s largest and most sophisticated…

Institutional investors expand digital asset exposure

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Institutional investors are deepening their involvement in digital assets and emerging technologies such as blockchain and AI, according to a new State Street report — though many remain split on whether decentralized finance can ever fully blend with traditional markets. The study found that digital assets currently make up about 7% of institutional portfolios, a figure expected to climb to 16% by 2028. Most holdings are concentrated in digital cash (stablecoins) and tokenized versions of listed equities or fixed income, with respondents allocating about 1% of their portfolios to each…

Digital Assets Demand Rising: 1 In 2 Institutions To Increase Holdings Within A Year

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According to State Street’s 2025 global research, big investors are moving past trial runs and making clear bets on digital assets and blockchain. Nearly 60% of surveyed institutional investors say they plan to raise their crypto allocation in the next year. Average exposure is expected to double within three years, signaling firm plans rather than idle talk. Institutions Are Boosting Digital Asset Allocations Reports have disclosed that private markets are the first target. Private equity and private fixed income topped the list for tokenization, as firms look to open up…

Publicly Traded Bit Digital Acquires $140M in Ethereum, Becomes 3rd Largest Holder

Key Notes Bit Digital’s $150 million financing round attracted Kraken Financial, Jump Trading Credit, and Jane Street Capital. Short traders faced $21 million in liquidations as Ethereum rebounded above $4,500 following a brief correction to $4,432. The company’s mNAV stands at $3.84 per share with conversion price at 8.2% premium reflecting investor confidence. Bit Digital, a publicly traded firm focused on Ethereum ETH $4 535 24h volatility: 1.5% Market cap: $546.95 B Vol. 24h: $39.80 B treasury and staking, has announced another major purchase, while derivatives short-traders were caught off…

S&P Global to Launch Digital Markets 50 Index With 15 Cryptos, 35 Crypto-Related Stocks

Key Notes The benchmark will combine 15 digital currencies with 35 publicly traded crypto company stocks covering infrastructure and blockchain applications. Dinari’s tokenized product aims to provide unified access to US equities and digital assets through blockchain-based dShares platform. Major exchanges including Coinbase and Robinhood expand tokenized securities while TradFi giants like CME and Nasdaq pursue crypto integration. S&P Global, responsible for the S&P 500 and the Dow Jones consolidated indices, has announced the launch of the S&P Digital Markets 50 Index and a potential token tracking the benchmark for…

India to Launch RBI Digital Currency for Faster, Safer Payments

Key Notes India is planning to launch an RBI-backed digital currency. The initiative aims to ensure transparency and curb illegal transactions. Minister Piyush Goyal says the new system will work like regular money but on blockchain. India is preparing to debut its own digital currency backed by the Reserve Bank of India (RBI) guarantee, like normal currency. The initiative is part of India’s growing focus on integrating blockchain technology into its financial ecosystem. Union Minister of Commerce and Industry Piyush Goyal announced that the move aims to make transactions faster,…