Photo by BeInCrypto Kakao Bank has reportedly shifted to active stablecoin development under founder Kim Beom-soo, while Naver is finalizing a merger with Dunamu, the operator of Upbit, South Korea's largest crypto exchange. These moves come as lawmakers push forward stablecoin bills that could reshape the country's digital financial landscape. Kakao Accelerates Stablecoin Development According to a local media report, Kakao Bank is building blockchain infrastructure for its planned stablecoin, "Kakao ...

Core Insights - AlphaTON Capital Corp. is strategically acquiring Telegram Bonds to gain direct exposure to Telegram's projected $3 billion annual revenue for 2025, while offering a 9% annual yield [1][2][4] - The investment aligns with AlphaTON's treasury strategy, enhancing its position within the Telegram ecosystem and allowing participation in Telegram's growth trajectory [3][4] Company Overview - AlphaTON Capital is a digital asset technology company focused on the Telegram and TON ecosystem, managing a strategic reserve of TON tokens and engaging in M&A and treasury strategies [5][6] - The company aims to provide institutional-grade exposure to the TON ecosystem and Telegram's user base while maintaining governance standards of a Nasdaq-listed entity [5] Financial Performance - Telegram is expected to generate approximately $3 billion in total projected revenues for 2025, with $2 billion from its core operations and $1 billion from its mini-app ecosystem [2] - The acquisition of Telegram Bonds will serve as a strategic treasury asset for AlphaTON, complementing its existing digital asset holdings and generating steady yield income [4] Market Positioning - AlphaTON's investment in Telegram Bonds reflects its belief that the Telegram ecosystem represents a significant opportunity in technology and digital assets [4] - The company is also investing in critical infrastructure, including Cocoon AI's GPU network, and expanding its exposure to mini-applications in gaming, decentralized finance, and commerce [3][4]

Stablecoin giant Tether has announced a strategic investment in Parfin, a Latin American platform for digital asset custody, tokenization, trading, and institutional management. The investment is intended to accelerate the adoption of USDT in enterprise-grade use cases and expand blockchain-based settlement infrastructure across the region. Strengthening USDT for Institutional Settlement and RWA Markets Tether’s investment reflects its broader commitment to establishing USDT as a core settlement and liq ...

Group 1 - Cypherpunk Technologies (CYPH) has added $18 million worth of Zcash (ZEC) to its balance sheet, purchasing 29,869 tokens at an average price of $602.63, increasing total holdings to 233,644 ZEC, valued at approximately $150 million [1][2] - The firm now controls about 1.43% of Zcash's total circulating supply, following an initial investment of $50 million [1] - Cypherpunk positions itself as a digital-asset treasury firm focused on "censorship-resistant" assets, with renewed investor interest in privacy coins like Zcash [2] Group 2 - ZEC has surged over 10% in the past 24 hours to $640, while the CoinDesk 5 Index declined by 1%, marking a 140% increase over the past month despite broader market declines [3] - The firm is currently sitting on approximately 120% in paper gains, with an average cost basis of $291 per token [3]

Group 1 - Analysts at Samosa Capital Investment Fund warn that Michael Saylor's BTC strategy is negatively impacting Bitcoin's price action, which is detrimental to the Bitcoin community [1] - Saylor's company, Strategy, is described as a highly leveraged holding company that contradicts Bitcoin's intended purpose [1] - Vinny Lingham expresses concerns that Strategy could cause more harm to Bitcoin than the FTX collapse [1] Group 2 - Saylor's Strategy recently purchased 8,178 BTC at an average price of $102,171, which is about 10% above current market levels, leading to approximately 40% of its 649,870 BTC holdings being in the red zone [2] - Bitcoin has lost over 25% since early October, raising questions about Saylor's silence during market downturns [2] - Peter Schiff criticizes Strategy's business model as a "fraud" and predicts that $MSTR will eventually go bankrupt [2] Group 3 - Critics highlight a pattern where Saylor's Strategy buys Bitcoin at high prices but remains inactive during market dips, suggesting a lack of proactive investment strategy [3] - The sentiment is echoed by Helius Labs CEO, who notes that large purchases occur at price peaks while silence prevails during discounts [3] - Bitcoin Maxis believe that the original vision of Bitcoin has been compromised, with Strategy and similar entities harming Bitcoin's price action and its role as a private medium of wealth storage [4]

Partnership enables non-custodial staking of TON tokens through BitGo integration, advancing AlphaTON's yield generation strategyNew York, NY, Nov. 17, 2025 (GLOBE NEWSWIRE) -- AlphaTON Capital (Nasdaq: ATON), a specialized digital asset treasury company accelerating the growth of The Open Network (TON) Telegram ecosystem, today announced the selection of P2P.org as an institutional staking partner to support the Company's TON treasury yield generation operations. The partnership represents a significant m ...

Core Insights - The emergence of Digital Asset Treasuries (DATs) represents a new investment vehicle focused on acquiring digital assets, with companies like MicroStrategy leading the way in this trend [5][6] - The relationship between a DAT's net asset value (NAV) and its market capitalization (mNAV) creates significant financial leverage, allowing companies to enhance shareholder value through strategic asset purchases [2][3] - The market dynamics surrounding DATs can lead to premiums on their stock prices, which may not always align with the underlying value of their digital asset holdings [8][10] Group 1: Company Background - MicroStrategy, founded in 1989, transitioned from a software company to a major player in the digital asset space by purchasing Bitcoin since 2020 [4][5] - The company's initial failure in 2000, where it lost over 99% of its market cap, contrasts sharply with its current strategy focused on digital assets [5] Group 2: Market Dynamics - The concept of mNAV allows companies to leverage their asset purchases to increase market capitalization, effectively acting as a "money printer" for shareholders [2] - The liquidity of Bitcoin and other digital assets provides a unique opportunity for public trading, which can lead to rapid increases in equity value for DATs [7] Group 3: Investment Considerations - Investors should be cautious of the speculative nature of purchasing DAT stocks, especially after a positive mNAV is established, as premiums may diminish [8][10] - The regulatory landscape poses potential risks for DATs, particularly regarding their classification and the implications of using leverage to acquire assets [10][11] Group 4: Advisor Insights - Advisors need to understand the unique characteristics of DATs, which behave differently from traditional stocks due to their significant crypto holdings [12][13] - Key factors for evaluating DATs include the types of assets held, the use of leverage, and the premium or discount relative to the company's market cap [18]

Financial Data and Key Metrics Changes - Total revenue for Q3 2025 reached approximately $10.8 million, a significant increase of over 10 times year-over-year from $0.9 million in Q3 2024 [11][22] - Net income for Q3 2025 was approximately $104.3 million, a substantial increase compared to a net loss of $0.9 million in the same quarter last year, primarily driven by unrealized gains on Ethereum holdings [23] - Cash on hand as of September 30, 2025, was $11.1 million, up from $1.4 million at the end of 2024 [23] Business Line Data and Key Metrics Changes - The affiliate marketing segment generated revenue of approximately $570,000 in Q3 2025, down from $882,000 in Q3 2024, indicating a reduced emphasis on this area as resources shifted towards the ETH treasury strategy [20] - The company staked nearly 100% of its ETH since the inception of its treasury strategy, contrasting with many peers and ETH ETFs [14] Market Data and Key Metrics Changes - As of September 30, 2025, the company held 580,841 ETH with a net fair value of $2.4 billion, and 236,906 LsETH (liquid staked ETH) valued at $622.7 million [21] - Combined ETH holdings increased to 637,752 ETH and 223,499 LsETH as of November 9, 2025 [22] Company Strategy and Development Direction - The company is focused on maximizing value creation through strategic partnerships and identifying the best ETH deployment opportunities, leveraging its relationship with ConsenSys [14][15] - The long-term vision includes Ethereum becoming the settlement layer for trillions of dollars in tokenized assets, with a focus on increasing ETH per share for investors [10][12] Management's Comments on Operating Environment and Future Outlook - Management highlighted a significant shift in institutional adoption of digital assets, supported by regulatory clarity from the U.S. government [12] - The company is well-positioned to capitalize on the ongoing institutional adoption supercycle within the Ethereum ecosystem [19] Other Important Information - The company announced a partnership with Superstate to issue its stock natively on Ethereum, aiming to enhance accessibility and utility for a digitally native investor base [16] - The company raised $76.5 million through a registered direct offering, reflecting strong institutional confidence in its strategy [18] Q&A Session Summary Question: Can you discuss the attributes driving demand for Ethereum and the pipeline for partnerships? - Management noted that financial institutions recognize digital assets as crucial technology, with Ethereum executing its scaling roadmap effectively [27][28] Question: How does the company view the percentage of ETH that should be staked versus used for other earnings? - The company emphasized a focus on risk-adjusted yield while staking nearly 100% of its ETH, without providing specific yield targets [31][32] Question: What initiatives are being considered besides share buybacks in light of the current NAV multiple? - Management indicated a focus on increasing ETH per share growth and capital efficiency, with various strategies available depending on market conditions [50][51] Question: How does Ethereum maintain its leading position against competitors like Solana? - Management highlighted Ethereum's significant stablecoin activity and tokenized asset dominance, asserting confidence in its institutional activity [56][57] Question: What is the expected impact of upcoming Ethereum upgrades? - Management expressed optimism about the upgrades enhancing scalability and transaction throughput, positioning Ethereum favorably against competitors [64][65]

Core Insights - Bitcoin billionaire Arthur Hayes advised investors to withdraw their Zcash holdings from centralized exchanges due to increased volatility in the privacy coin market [1][4] - Zcash, currently the 24th largest digital coin by market value, experienced significant price fluctuations, trading above $537 but dropping to as low as $430 earlier in the day, representing a 30% decline from its previous week's high [2] - Hayes' warning aligns with broader industry sentiment that holding funds on centralized exchanges poses risks due to potential hacking vulnerabilities [4] Market Performance - Zcash was trading at over $537, reflecting a more than 10% increase in the past 24 hours, but it is still approximately 30% below its high from the previous week [2] - The token's all-time high was recorded at $3,192 in 2016, indicating a significant decline from its peak value [2] Industry Context - As a privacy coin, Zcash utilizes zero-knowledge proofs to encrypt transaction information, allowing users to send and receive funds privately [5] - There is a historical caution against keeping privacy coins on centralized exchanges due to the risk of exposing personal information, which contradicts the privacy objectives of these coins [6] - The recent rally in Zcash was partly driven by concerns over the government's ability to track Bitcoin transactions, highlighting the demand for privacy-focused cryptocurrencies [6]

Core Viewpoint - Solowin Holdings has entered a strategic collaboration with Beijing Fourth Paradigm Technology to create a joint venture focused on global blockchain compliance and financial regulatory technology, utilizing an "AI + Blockchain" approach to enhance digital-asset compliance and risk management solutions [1][4]. Group 1: Joint Venture Details - The joint venture will establish a comprehensive compliance framework that includes KYC, KYB, KYW, KYT, and AML services tailored for the digital-asset industry [2]. - Solowin will provide its digital-asset infrastructure and blockchain-development expertise, while 4Paradigm will contribute its AI algorithms and intelligent risk-control engine for real-time risk identification and profiling [3]. Group 2: Technological Integration - The collaboration aims to create a globally leading compliance-monitoring platform that ensures secure, traceable, transparent, auditable, and compliant solutions for various stakeholders, including regulators and digital-asset exchanges [3]. - The integration of AI and blockchain is expected to redefine the efficiency and transparency of financial compliance, marking a significant milestone in the evolution of digital-asset regulatory technology [4]. Group 3: Company Backgrounds - Solowin Holdings is a financial technology firm focused on digital currency payments and asset tokenization, aiming to bridge traditional and decentralized finance through a compliant financial infrastructure [5]. - Beijing Fourth Paradigm Technology is a leader in enterprise AI, providing platform-centric AI solutions that enhance decision-making capabilities across various sectors, including finance and healthcare [7].