Seemed the ground might split open under all this weight – them tokens hanging like heavy fruit on tired limbs. Funny thing about NFTs though: they build their barns slow and stubborn. History’s taught us when the images start costing more than sense should allow, the money stampede ain’t far behind. And damned if we ain’t seeing hoofprints already.
It seems our friends at JPMorgan are entertaining a revolutionary concept—a radical departure from the confines of yesterday’s prudence. Instead of confining themselves to the sterile embrace of crypto-related financial instruments like exchange-traded funds (ETFs), they aspire to directly usher forth crypto as collateral. Imagine, if you will, trading in your digital gold for real, tangible cash! As if banking was ever devoid of irony. 😏
But observe! This lull follows a period of ascendance most vigorous, fueled by the eager pursuits of both grand institutions and those of lesser purse. ‘Tis possible, methinks, that this pause serves merely as a moment of re-adjustment, a weighing of accounts, before these players resume their frenetic gamblings.
Source – X coingecko
The aforementioned Machine is being propped up, as it were, by the esteemed Kraken and Blockchain.com. These titans of the digital realm are prepared, the reports say, to contribute a mere $800 million in equity. “Mere,” I say! Such paltry sums for such ambitious endeavors. One wonders if they’ve consulted the astrologers. 🔮
Ah, the capital shall be deployed in a most charmingly incremental fashion, as one might sprinkle truffle oil on a plate of spaghetti. The intentions are nothing short of ambitious: acquire and stake SOL, operate validators (because who doesn’t love a good validator?), and support those tokenized finance initiatives that promise to rescue us from our daily drudgery. Furthermore, MFH plans to dabble in real-world assets and decentralized services across the grand expanse of the Solana network. How quaint! 🍷
And let’s not forget the GENIUS Act—because nothing says ‘trust me, I’ve got this’ like officially recognizing stablecoins as legal tender in the good ol’ U.S. of A. Now, ETH’s basically on steroids, ready to dominate the stablecoin scene with a big ol’ smile. 🚀
Now don’t go fainting just yet, for this lost trove is worth roughly $3.43 billion—because who wouldn’t want to lose a bit of pocket change equal to the GDP of a small country? That’s a delightful 0.76% of the circulating supply, which is probably sitting on a beach somewhere, sipping a piña colada while we ponder how to retrieve it. 🍹
In a filing that dropped on Monday—so fresh it’s practically still warm—TMTG revealed they’ve ploughed $1.5 billion from stock sales and another $1 billion from convertible bonds into the BTC bonanza. What’s the message, you ask? Why, it’s as clear as a gin and tonic on a summer’s day: Trump’s not just waving the Bitcoin flag; he’s practically sewing it into his trousers. 🚀
Let’s get this straight: H100 already holds a solid 370 BTC on its balance sheet. That’s right, folks! They’ve got more Bitcoin than my high school friends have excuses for why they still haven’t paid me back. With these new funds, they’re looking to gobble up even more Bitcoin. This isn’t just a phase—they’re going full throttle on that crypto money train! 🚂💰
