13 hours ago
It was a week of fortunes made, and fortunes lost, astatine CoinDesk.
On the 1 hand, we had Circle, agelong a starring crypto company, hurtling to IPO and making bank. Its shares were priced astatine $110 astatine property clip (up from $31 Wednesday), starring galore to expect a summertime and autumn of crypto-themed IPOs. On the other, we saw HyperLiquid trader James Wynn spell from having a $100 cardinal BTC presumption 1 time to a monolithic nonaccomplishment the next. (Kids, beware the big, atrocious leverage monster).
Most of the marketplace portents looked good, though. Crypto money-raising play was successful afloat swing.
Groups doubled-down connected the Bitcoin Treasury Strategy, not slightest Metaplanet, Japan’s answer to Michael Saylor’s Strategy. Pump.Fun, Solana’s memecoin juggernaut, said it was lining up $1 cardinal astatine a $4 cardinal valuation. One of its children, Fartcoin, surged connected rumors of a Coinbase listing.
Crypto exertion continued to get integrated into mainstream products. Prediction markets from Polymarket are coming to X and xAI. Uber, Apple, Airbnb and others said they were hoping to harvester stablecoins into their outgo offerings. Revolut said it would soon connection derivatives. And truthful on. Still, Trump and Musk dominated sum arsenic mean (probably to an unhealthy degree). On Thursday, Trump’s media institution Truth Social said it would motorboat its ain Bitcoin ETF. (By Friday, it was acceptable to issue much shares arsenic well.)
The Trump-Musk feud, which besides broke this week, highlighted the U.S.’s precarious indebtedness concern (a key operator for bitcoin’s existence). But truthful acold bitcoin, and dogecoin, prices are down connected the news. Really thing is imaginable successful the weeks ahead.
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