As Grayscale pushes ahead with plans for a $33 billion initial public offering, mounting legal troubles tied to the collapse of Genesis Global Capital are threatening to overshadow the milestone listing, according to the Financial Times. Barry Silbert, the founder of Digital Currency Group (DCG), is spearheading the effort to take Grayscale public, a move that would mark the first major public offering by a crypto asset manager. But ongoing lawsuits connected to Genesis’s bankruptcy continue to cast unce ...

Product Launch - Phantom launched "Phantom Cash," a digital money account integrating payments and digital assets [1] - Phantom Cash aims to make crypto accessible for regular transactions [1] - Phantom's ecosystem includes over 15 million users, making CASH the default stablecoin within the wallet [3] Key Features - Users can fund accounts by linking a bank or card for immediate use [1] - The service supports crypto transactions without fees on stablecoins and includes payment options through Apple Pay, Google Pay, and Visa [2] - Peer-to-peer transfers can be made within the platform [2] - Phantom Cash is based on CASH, a stablecoin fully backed 1:1 by USD [3] Ecosystem & Integration - CASH allows developers and businesses that issue it to take part in network revenue [3] - Additional support includes onchain liquidity, market-maker participation, Solana DeFi connections, and planned acceptance through Stripe Checkout [4] - Phantom is positioned as a platform combining digital assets and traditional payment methods [4]

Core Insights - CoinShares International Limited has become the first major European asset manager to receive authorisation under the Markets in Crypto-Assets (MiCA) Regulation, marking a significant milestone in the European digital asset industry [1][4] - This authorisation allows CoinShares to offer comprehensive investment services across all asset classes throughout the European Union, positioning the firm uniquely in the market [2][6] Regulatory Achievements - CoinShares is now the only asset management firm in continental Europe with a combination of AIFM, MiFID, and MiCA licenses, enabling it to provide institutional-grade portfolio management services [2][7] - The MiCA authorisation addresses a critical gap in the European crypto investment landscape, ensuring proper licensing and organisational structure for asset management [3][4] Market Positioning - The regulatory framework positions CoinShares as a leader in professional active management services for both traditional and digital assets, with a commitment to governance and accountability [5][8] - CoinShares operates under multiple regulatory bodies, including the Jersey Financial Services Commission and the Autorité des marchés financiers in France, enhancing its credibility in the market [9]

Group 1 - Lion Group Holding Ltd. has purchased additional HYPE tokens, reaching approximately $7 million in combined purchases of HYPE, SOL, and SUI for its treasury reserve [1] - The treasury holdings as of July 7, 2025, will be updated periodically as the company expands its treasury reserve [2] - The company operates a comprehensive trading platform offering various products and services, including total return swap trading, contract-for-difference trading, over-the-counter stock options trading, and futures and securities brokerage [3] Group 2 - The company holds 128,929 HYPE tokens, 6,629 SOL tokens, and 356,129 SUI tokens [6]

Core Insights - Lion Group Holding Ltd. has completed its initial acquisition of Hyperliquid (HYPE) tokens, marking the first strategic purchase under its HYPE treasury initiative [1][2] - The acquisition aligns with the company's commitment to building a next-generation layer-1 treasury, viewing HYPE as a foundational asset in decentralized finance [2] - The company has closed $11 million in principal amount under a $600 million convertible debenture facility, with plans for further token acquisitions using net proceeds [2][3] Financial Details - The company acquired HYPE tokens for $2 million at an average price of approximately $37.30 per token [7] - At least 75% of net proceeds from future closings of the convertible debenture facility will be allocated to token acquisitions for the treasury reserve [3] - The remaining funds will support broader crypto operations, on-chain initiatives, and working capital [3] Company Overview - Lion Group Holding Ltd. operates a comprehensive trading platform offering various products and services, including total return swap trading, contract-for-difference trading, OTC stock options trading, and futures and securities brokerage [4]