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Saylor's Strategy Posts Wider Quarterly Loss on Bitcoin Slump
Michael Saylor's Strategy reported a wider first-quarter loss on Tuesday, hammered by a slump in bitcoin prices that weighed on the value of its sizeable crypto holdings amid heightened market volatility.
The Tysons Corner, Virginia-based Strategy held 818,334 bitcoins as of May 3, with a market cap of $64.14 billion.
The company posted a net loss of $12.54 billion, or $38.25 per share, for the three months ended March 31, compared with a loss of $4.22 billion, or $16.49 per share, a year earlier.
Michael Saylor said Strategy “will probably” sell bitcoin in the future to cover dividends from STRC, which has been rapidly growing.
Crypto Exchange Bullish to Buy Equiniti for $4.2 Billion in Capital Markets Push
Bullish said on Tuesday it will buy transfer agent Equiniti in a deal valued at $4.2 billion, as the cryptocurrency exchange looks to establish infrastructure to bridge blockchain technology with traditional capital markets.
The acquisition gives the institutional crypto platform, led by former NYSE President Thomas Farley, access to a regulated transfer agent — a firm that tracks registered shareholders for companies that issue stocks — to underpin its operations.
As capital markets shift toward blockchain-based settlement, the absence of a regulated transfer agent built for the technology has been viewed as a primary hurdle for institutional adoption.
Crypto Whale Sues Coinbase for Allegedly Refusing to Return Stolen DAI
An anonymous crypto whale has sued Coinbase for refusing to return frozen funds tied to a 2024 crypto theft.
The plaintiff fell victim to a phishing scam where an attacker drained his DAI holdings, with a portion of the funds later traced to a Coinbase user account.
The plaintiff, identified only as "D.B.," filed the lawsuit on Monday against both Coinbase and "John Doe," the alleged thief. While the filing was partially redacted, the disclosed details closely mirror those of an August 2024 crypto theft, where a crypto whale lost roughly $55 million worth of DAI.
Bitcoin & Ethereum Spot ETF Flow
The overall net inflow of the US Bitcoin spot ETF on Tuesday was $467.35 million. The total net asset value of Bitcoin spot ETFs is $108.98 billion, and the ETF net asset ratio (market value compared to total Bitcoin market value) is 6.67%.
The Bitcoin spot ETF with the highest net inflow on May 5 was iShares Bitcoin Trust (IBIT), with a net inflow of $251.43 million, according to SoSoValue.
Source: SoSoValue
The overall net inflow of the US Ethereum spot ETF on Thursday was $97.57 million. The total net asset value of Ethereum spot ETFs is $14.15 billion, and the ETF net asset ratio (market value compared to total Ethereum market value) is 4.92%.
The Ethereum spot ETF with the highest net inflow on May 5 was iShares Ethereum Trust ETF (ETHA), with a net inflow of $69.48 million, according to SoSoValue.
Source: SoSoValue
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