Crypto Startup Apologizes for Using Polymarket to Bet on Fundraising, Catching Backers Off Guard

180 Life Sciences, now known as ETHZilla, is raising $425 million through a PIPE offering to establish an Ethereum treasury. The firm plans to further raise $150 million to purchase ETH and generate yield through on-chain programs.

Pump.fun, a once-dominant memecoin launchpad, has seen a sharp decline in revenue amid increased competition and criticism. The platform's revenue dropped below $300,000, raising doubts about its ability to recover in a saturated market.

BitMine Immersion Technologies plans to repurchase up to $1 billion of its common stock to support its Ethereum treasury pivot, aiming to hold 5% of Ethereum's total supply. The company currently holds 625,000 Ethereum valued at about $2.4 billion.

Nasdaq's proposal for BlackRock's Ethereum ETF to participate in staking has been acknowledged by the SEC, potentially allowing the asset manager to engage in Ethereum's proof-of-stake model and share rewards with shareholders. The SEC could make a decision within 45 days, with the possibility of an extension.

In a recent blog post, the Securities and Exchange Commission announced the approval of in-kind creations and redemptions for crypto-based exchange-traded funds. This new development allows authorized participants, aka institutional investors, to exchange shares of an ETF for its underlying tokens, potentially benefiting markets and investors in the process.

eToro will introduce tokenized stocks on the Ethereum blockchain, enabling 24/7 trading of popular U.S.-listed stocks and ETFs. The move aligns with the growing interest in tokenization and the shift towards digital financial systems.

CEA Industries plans to raise $500 million to invest in BNB, the token from Binance, believing in its potential for growth and development. The incoming CEO aims to increase awareness of BNB among investors and sees it as a promising asset for the future.

The accused in Germany escaped criminal charges for allegedly stealing $2.9 million in cryptocurrency due to legal loopholes. The court ruled that theft charges did not apply to cryptocurrencies like Bitcoin and Ethereum, as they lack physical form under German law.

SharpLink Gaming significantly increased its Ethereum holdings in July, acquiring 240,000 ETH and becoming one of the largest corporate Ethereum treasuries. The company aims to enhance shareholder value by accumulating more Ethereum per fully diluted share.

Ethereum treasury companies have quickly acquired 1% of the total ETH in circulation, valued at nearly $9 billion. Geoff Kendrick from Standard Chartered predicts a tenfold growth potential for ETH, with companies like BitMine and SharpLink leading the way in accumulating billions worth of ETH.