Digital Asset Treasury (DAT)

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Money-losing companies with colorful histories have pivoted to crypto
Yahoo Finance· 2025-10-22 11:14
The success of MicroStrategy, which has rebranded as Strategy, has spawned dozens of imitators. The first wave of crypto treasury companies focused on bitcoin while more recently companies have started buying large stakes in more niche and unproven forms of cryptocurrency.In 2020, the tech firm MicroStrategy became the first DAT when it started accumulating bitcoin, the world’s oldest and most popular cryptocurrency. Led by ultra bitcoin evangelist Michael Saylor, the company’s stock price has been one of t ...
Asia’s Top Stock Exchanges Crack Down on Crypto DATs, Blocking Listings
Yahoo Finance· 2025-10-22 10:32
Core Insights - The Digital Asset Treasury (DAT) trend is gaining global traction, but major Asian financial hubs are beginning to impose restrictions on companies attempting to adopt this model [1][7] - Regulatory concerns have emerged regarding the volatility and potential manipulation associated with companies holding cryptocurrencies on their balance sheets [2][4] Group 1: Regulatory Actions - Hong Kong Exchanges & Clearing Ltd. (HKEX) has rejected at least five applications for listings under the DAT model, citing rules against "cash companies" that hold excessive liquid assets, including cryptocurrencies [3] - Australia and India's exchanges have similarly instructed their listing committees to reject or delay approvals for firms primarily deriving value from volatile crypto assets [4] - The caution from these exchanges follows the collapse of QMMM Holdings, which experienced a dramatic stock increase of over 1,400% after announcing a $100 million crypto treasury, only to vanish shortly thereafter [4] Group 2: Investor Impact - A report from Singapore's 10X Research indicates that retail investors have collectively lost $17 billion in DAT-related trades, contributing to skepticism in the region [5] Group 3: Japan's Unique Position - Japan stands out as the only Asian market that is openly embracing the DAT model, with 14 listed companies holding Bitcoin, including Metaplanet, which possesses over $3.3 billion in BTC [6][8] - Japanese regulators require full transparency but encourage innovation, contrasting with the stricter approaches of Hong Kong and India [8]
Standard Chartered’s Geoffrey Kendrick: Consolidation Is Coming for Bitcoin DATs
Yahoo Finance· 2025-10-17 14:00
Core Insights - A wave of consolidation is anticipated in the digital asset treasury (DAT) space, as market dynamics shift and competition intensifies [1][3][7] - The U.S. stablecoin market is expected to grow rapidly, potentially reaching $2 trillion by 2028 [7] - Regulatory frameworks in Europe and the U.S. are evolving but lack coordination, which could impact the digital asset landscape [5][6] Digital Asset Treasuries (DAT) - The DAT model, initially popularized by MicroStrategy, is evolving due to changing market conditions [3] - MicroStrategy's market value relative to its Bitcoin holdings has remained above one, indicating resilience despite market pullbacks [3] - Many new entrants in the DAT space have questionable net asset values (NAVs), leading to a predicted consolidation [4] Market Trends - Ether-based DATs may become more attractive than Bitcoin-focused ones due to the potential for staking yields [4] - The next significant growth wave in digital assets is expected to come from tokenized real-world assets [7] Regulatory Environment - Europe's Markets in Crypto-Assets (MiCA) framework is now in effect, while U.S. regulatory measures like the Genius Act and Clarity Act are still under development [6] - There is a call for regulatory consistency between major jurisdictions to better support the digital asset market [5][6]
Wall Street veteran drops major hint ahead of Trump's 3PM announcement
Yahoo Finance· 2025-10-16 20:52
Wall Street veteran Tom Lee dropped a major hint on risk assets ahead of President Donald Trump's announcement from the Oval Office scheduled at 3:00 PM EST on Oct. 16. While the White House hasn't specified what topics the president will address, he has recently been vocal about the government shutdown, the wars in the Middle East and Europe, and crime in the U.S. Notably, it was Trump's aggressive tariff rhetoric against China that wiped out nearly $20 billion from the crypto market on Oct. 10. During ...
CORRECTION: Propanc Biopharma Announces Strategic Financing Agreement of up to $100 Million with Hexstone Capital
Globenewswire· 2025-10-15 21:45
Initial Conversion Price of $5.00 Per Share Representing a 280% Premium Over the Company’s Recent Closing Price of $1.78MELBOURNE, Australia, Oct. 15, 2025 (GLOBE NEWSWIRE) -- Propanc Biopharma, Inc. ("Propanc" or the "Company") is pleased to announce it has entered into a strategic financing agreement of up to $100 million with Hexstone Capital LLC ("Hexstone"), a family office that has invested in a significant number of Digital Asset Treasury (DAT) companies across a range of digital assets including BTC ...
Bitcoin Treasury Corporation Receives FINTRAC Registration and Partners with FRNT Financial to Advance Institutional Bitcoin Lending
Newsfile· 2025-10-10 12:02
Core Insights - Bitcoin Treasury Corporation (BTCT) has received registration from FINTRAC as a Money Services Business, enabling it to conduct digital currency dealing and transfer services under Canada's regulatory framework [2][3] - The company has partnered with FRNT Financial to enhance its institutional Bitcoin lending business, marking a significant step in its operational strategy [4][5] Regulatory Achievement - The MSB registration is a crucial regulatory milestone for BTCT, strengthening its compliance foundation as it prepares to launch a suite of lending, liquidity, and collateral solutions for institutional clients [2][3] Strategic Partnership - The consulting agreement with FRNT will allow BTCT to utilize FRNT's expertise in Bitcoin lending strategies, due diligence, and counterparty selection, supporting the evaluation and structuring of lending opportunities [5][6] - This partnership is positioned as a pioneering collaboration in the rapidly growing digital asset treasury segment [4][6] Business Objectives - BTCT aims to maximize Bitcoin per share through internal operations and external capital formation, with the FINTRAC registration being a key step towards building a compliant and scalable institutional Bitcoin services platform [3][9] - Generating yield on Bitcoin holdings is a fundamental aspect of BTCT's long-term strategy, with the first Bitcoin loan execution being a significant goal [6]
Wall Street legend backed crypto stock slumps after short-seller attack
Yahoo Finance· 2025-10-09 22:36
Core Viewpoint - BitMine Immersion Technologies (NYSE: BMNR) experienced a stock decline of over 5% on October 9 due to a short-selling decision by Kerrisdale Capital, which criticized the company's business model as being outdated [1][3]. Company Overview - BitMine is recognized as the world's largest Ethereum-focused digital asset treasury (DAT) firm, holding 2.83 million ETH tokens valued at over $12 billion and 192 Bitcoin valued at more than $23 million [1][2]. Market Position - Despite a nearly 30% increase in stock value over the past month, the recent short-selling announcement led to a 4.7% drop in stock price [3]. - BitMine is positioned as the second-largest Bitcoin treasury firm, following Michael Saylor's Strategy [2]. Industry Dynamics - The investment firm Kerrisdale Capital highlighted that the proliferation of crypto investment vehicles, including similar DATs and exchange-traded funds (ETFs), has overwhelmed investors [4]. - Kerrisdale Capital suggested that the DAT model has become basic and unoriginal, recommending that investors directly purchase Ethereum or utilize the growing number of ETFs instead of paying a market premium for BitMine [5]. Leadership Commentary - Tom Lee, the chairman of BitMine, lacks the strong following that Michael Saylor commands, which may impact investor confidence [7]. - The DAT model was once effective when there were fewer public companies, but the current market saturation has diminished its appeal [8].
X @BSCN
BSCN· 2025-10-08 07:54
FIGHT FIGHT FIGHT LLC SEEKS $200M TO SUPPORT TRUMP TOKEN- Fight Fight Fight LLC, issuer of the $TRUMP token, seeks $200M to build a Digital Asset Treasury (DAT) to support the struggling memecoin, per Bloomberg.- The Toronto-backed initiative aims to acquire and consolidate TRUMP holdings amid steep declines from $44 in January to $7.55 today.- If investor demand is strong, the treasury could scale up to $1B, according to sources. The DAT will act as a market-support mechanism, buying TRUMP to create a pric ...
X @BSCN
BSCN· 2025-10-08 05:40
PINEAPPLE ROLLS OUT $100M INJECTIVE TREASURY WITH $8.9M INJ BUY- Pineapple Financial launches a $100 million @Injective Digital Asset Treasury (DAT) strategy. The Toronto-based fintech confirmed an open market purchase of 678,353 Injective (INJ) tokens worth about $8.9 million.- All tokens will be staked onchain, with an expected annual yield of 12.75%—nearly double Ethereum’s and 1.8 times Solana’s rate.- The move enables Pineapple to become the largest INJ holder and staker in the ecosystem.“This initial ...
X @Blockchain.com
Blockchain.com· 2025-09-30 12:09
RT Peter Smith (@OneMorePeter)Last week I dove into @Blockchain’s Digital Asset Treasury (DAT) strategy with @TheBlock__. DATs are fundamentally reshaping the future of finance. Over the last year, we have partnered on more than a dozen transactions, valued at more than $200 million with custody, trading, and staking infrastructure to power this ecosystem.https://t.co/00bb0C0aKv ...