The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
I hope you had a good weekend, folks. Neither President Trump's Strategic Bitcoin Reserve executive order nor the inaugural Crypto Summit at the White House on Friday evening helped lift prices, as most digital assets continued to sell off over the past few days. So, is another bear phase truly underway, or can a new catalyst revive a fearful market?
In today's newsletter, Strategy seeks to raise up to $21 billion to buy additional bitcoin, global crypto funds shed $876 million amid "signs of capitulation," Rex Shares and Osprey Funds file for a MOVE ETF and more.
Meanwhile, Coinbase is set to launch 24/7 Bitcoin and Ethereum futures for U.S. traders.
Let's get started.
Strategy, formerly MicroStrategy, is seeking to raise up to $21 billion through STRK perpetual strike preferred stock offerings to acquire more bitcoin, according to a prospectus filed with the Securities and Exchange Commission on Monday.
Global crypto funds lost a further $876 million last week, marking a fourth straight week of outflows totaling $4.75 billion, according to CoinShares data.
Investment managers Rex Shares and Osprey Funds have filed to list the first ETF tracking MOVE, the native token of the Movement network, amid the project's public mainnet beta launch.
The Utah Senate passed HB230, a bill integrating crypto into the state's legal framework, but removed a provision for a state-held bitcoin reserve before final approval.
El Salvador added 6 BTC on Sunday, bringing its total holdings to over 6,111 BTC ($489 million) despite its deal with the International Monetary Fund to limit further bitcoin acquisitions.
Never miss a beat with The Block's daily digest of the most influential events happening across the digital asset ecosystem.
Disclaimer: This article was produced with the assistance of OpenAI’s ChatGPT 3.5/4 and reviewed and edited by our editorial team.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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