News section

Wells Fargo increased its Strategy stake by 125% while trimming its BlackRock Bitcoin ETF holding.The bank boosted Ethereum ETF exposure, added Solana funds, and expanded positions in Bitmine and Robinhood.SEC filings also show reduced stakes in Coinbase and Galaxy Digital despite broader crypto market exposure.

Kraken secured a $22 million arbitration award against former auditor Mazars over its withdrawn 2022 audit.Co-CEO Arjun Sethi linked the dispute to Operation Chokepoint 2.0 and called for passage of the CLARITY Act.The exchange continues expanding its product suite with tokenized stock collateral and institutional lending services.

Mizuho cut its MSTR price target to $213 but kept an outperform rating, still expecting shares to trade above $200.The revised target follows Strategy’s $216 million Bitcoin sale, which left the company holding 843,775 BTC and $2.55 billion in cash reserves.Grayscale Research and several market commentators said the sale could strengthen Strategy’s finances and improve its S&P 500 inclusion prospects.

Grayscale says Strategy’s $216 million Bitcoin sale has reduced financing risk and strengthened its balance sheet.The research firm argues higher cash reserves could support a more durable Bitcoin price bottom over time.Bitcoin rebounded above $63,000 as BlackRock’s ETF recorded fresh inflows and trading volume surged.

Strategy’s recent bitcoin sales should restore investor confidence in its financing structure by strengthening its cash reserves for dividend payments, according to Grayscale.Grayscale said the stronger financing position could help bitcoin find a more durable price bottom by reducing tail risks, or the chances of severe negative outcomes, related to Strategy.

Strategy has sold 3,588 BTC for approximately $216 million, reducing its total holdings to 843,775 BTC.Proceeds from the sales were used to fund payment of distributions on preferred stock and to replenish its USD reserve.

Kraken allows ten xStocks as collateral, widening capital use for eligible non-US traders globally today.Broad-market ETFs carry lower haircuts, while volatile names like MSTRx and HOODx receive higher discounts.Related coverage shows Kraken moving tokenized assets toward collateral, cash management and institutional credit products.

Coinbase has rallied nearly 19% in five trading days despite Bank of America reporting $17.2 billion in U.S. equity fund outflows.The exchange is expanding its European presence under MiCA while offering a 5% transfer bonus to attract users after rivals exited.Technical indicators show improving momentum, with Coinbase testing key trendline resistance near the $170 Fibonacci level.

STRC, Strategy’s preferred stock, traded as low as $75 from its $100 par value before Strategy overhauled its framework on June 29 and let the price float instead of defending $100.Bitwise CIO Matt Hougan called the STRC selloff a classic “end-of-cycle” pattern and said he expects a new bitcoin bull market to begin this fall.

FBI Director Kash Patel disclosed a $100,001 to $250,000 purchase of Strategy stock about six months after buying the shares, according to a NOTUS report.

Bitwise CIO Matt Hougan says the STRC unwind could signal Bitcoin is nearing a market bottom.Hougan expects institutional investors to replace Strategy as the primary driver of Bitcoin demand.He believes the current deleveraging phase could pave the way for a new Bitcoin bull market this fall.

Michael Saylor says MSTR’s open interest-to-market-cap ratio has reached nearly 72%, far ahead of major U.S. tech stocks.MSTR rebounded above $100 as Bitcoin climbed past $62,000, lifting other crypto-related stocks.Bitwise and Wall Street remain positive on Bitcoin despite recent Strategy price target cuts from Canaccord and TD Cowen.

FBI Director Kash Patel failed to disclose a significant purchase of stock in Bitcoin treasury firm Strategy from last November.

FBI Director Kash Patel disclosed a six figure Strategy stock purchase months after the reporting deadline required under the STOCK Act.The delayed filing has drawn criticism from government watchdogs, while the Justice Department said the investment did not create a conflict of interest.The disclosure adds to recent scrutiny of cryptocurrency related financial interests among senior United States government officials.

Grayscale says Bitcoin may be near its low if policy and treasury risks ease soon.A stalled CLARITY Act could keep regulatory pressure high as Bitcoin trades near stress levels.Fed rate hikes and DAT deleveraging remain the main downside risks in Grayscale’s scenario now.

STRC briefly fell to a record low of $71.40, leaving the preferred shares about 25% below par.Metaplanet and Nakamoto also trade below a 1.0 enterprise mNAV, while Strive remains above parity.