Crypto Biz: Capital has no consensus
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- BitMine added 101,000 ETH, raising its total ETH holdings to $17.6 billion and leaving $6.5 billion in unrealized losses.
- USDT recorded net inflows of $3.6 billion over the past month, while overall stablecoin transfer volume fell 19% to $8.3 trillion.
- OKX integrated BlackRock’s tokenized Treasury fund BUIDL as margin collateral, with custody via Standard Chartered to cut counterparty risk.
- IREN’s AI cloud is projected by Bernstein to become its dominant revenue stream soon, signaling a strategic shift toward high‑margin services.
- Fun raised $72 million in a Series A round led by Multicoin Capital and SignalFire, highlighting continued investor appetite for crypto on‑ramp solutions.
Why it matters: BitMine’s $6.5 billion loss hurts shareholders, while OKX’s BUIDL collateral gives institutional traders a yield‑bearing alternative, boosting exchange liquidity and reducing idle stablecoin holdings for the market.
