Edward Woodford, CEO of crypto-infrastructure startup zerohash, joins "Bloomberg Crypto" to discuss the growth of stablecoins in the US, banks' usage of the technology and the overall growing institutional adoption of digital assets. He speaks with Bloomberg's Scarlet Fu and Katie Greifeld. The company builds stablecoin and blockchain infrastructure that allows for payments and crypto trading. The firm, founded in 2017, has settled more than $65 billion of transaction volume, according to its website. ...

Bitcoin mining firm Hut 8 is the latest crypto infrastructure company to lock in large-scale, Google-backed financing, as miners increasingly pivot toward artificial intelligence data centers to offset post-halving pressure on their core business. On Dec. 17, Hut 8 announced it had signed a 15-year lease agreement valued at $7 billion with cloud infrastructure firm Fluidstack for 245 megawatts of IT capacity at its River Bend data center campus in Louisiana. The agreement includes a financial backstop f ...

Before Rushi Manche’s ousting from Movement Labs, the crypto infrastructure startup he co-founded with fellow Vanderbilt University dropout Cooper Scanlon, he was a rising young star in the DeFi world. This feature is a part of CoinDesk's Most Influential 2025 list. But in April 2025, the buzzy project became embroiled in a scandal over hidden market-making deals connected to MOVE’s token launch. Internal documents obtained by CoinDesk showed that Movement Labs, under Manche’s leadership, had signed a con ...

Core Insights - Solmate Infrastructure has launched the first-ever Solana validator in the UAE, which is expected to rank among the top globally and allows users to stake $SOL at 0% commission [1][2] - The company aims to establish RPC nodes and colocation services to support decentralized finance (DeFi) applications, leveraging partnerships to enhance yield generation [2][3] - Solmate's strategy includes an "Infrastructure Flywheel™" that relies on increasing $SOL inventory to boost revenue from RPC and colocation services [3][7] Company Overview - Solmate Infrastructure is based in Abu Dhabi and focuses on building infrastructure for the crypto revolution, particularly for the Solana network [8] - The company is backed by notable investors including Ark Invest and RockawayX, and aims to process Solana transactions more efficiently than competitors [8] Strategic Initiatives - The company plans to grow its $SOL stake through capital market activities and yield generation strategies, which will enhance the performance of its services [3][7] - Solmate's CEO emphasized the importance of maximizing RPC and colocation fees to generate more $SOL for the treasury [7]

Core Insights - Solmate Infrastructure has provided an update on its validator operations, data center selection, M&A strategy, and a $300M PIPE Securities Purchase Agreement [1][4][6] Validator Operations & Data Center Selection - The company has selected a data center in the UAE for its bare metal validators and is currently testing its first validator hardware, which will be the first performant Solana validator in the Middle East [2] - The validator is being configured using SOL purchased at a historic discount to market prices [2] Planned M&A Strategy - Solmate Infrastructure plans to pursue an aggressive M&A strategy, focusing on opportunities across the Solana value chain with rigorous criteria for synergy and growth [3][4] - The company aims to target businesses that can leverage its SOL treasury for growth, enhancing SOL-per-share for investors [4] Amended Registration Rights Agreement - An amendment to the registration rights agreement for the $300M PIPE financing has been successfully negotiated, with a registration statement expected to be filed with the SEC by November 22, 2025 [4][5] - This extension is intended to provide the company with flexibility in completing and announcing new infrastructure while enhancing long-term shareholder value [5] Company Overview - Solmate Infrastructure, based in Abu Dhabi, focuses on building infrastructure and hardware for the crypto sector, specifically leveraging Solana's staking infrastructure to drive network adoption in the Middle East [6] - The company is backed by notable investors including Ark Invest and RockawayX, and aims to process Solana transactions more efficiently than competitors [6]

Core Insights - Solmate Infrastructure announced a $50 million purchase of SOL tokens at a 15% discount during a significant liquidation event in the crypto market [1] - Ark Invest disclosed an 11.5% ownership stake in Solmate Infrastructure, indicating growing institutional confidence in the Solana ecosystem [2] Group 1: Company Actions - Solmate executed the purchase of SOL tokens as part of a strategic agreement with the Solana Foundation, capitalizing on what is perceived as a historically low market price for SOL [3] - The acquisition will support Solmate's infrastructure operations in the UAE and is aligned with the country's digital transformation agenda [4] - The Solana Foundation will have the right to nominate up to two directors to Solmate's Board as part of the deal [4] Group 2: Institutional Interest - Ark Invest's stake in Solmate builds on its previous investments, including a $300 million participation in the company's oversubscribed PIPE financing round [5] - The investment by Ark Invest is notable as it represents the first-ever investment by a regulated American ETF into a crypto infrastructure PIPE [5] - There is a broader institutional interest in Solana-based treasury vehicles, reflecting a rapid expansion in this space [6]

Group 1 - Brera Holdings PLC announced a direct purchase of $50 million of $SOL at a 15% discount during a significant market downturn, which will be used to enhance its infrastructure in the UAE [1][2] - The purchase is part of Solmate Infrastructure's commitment to the Solana Foundation's "Solana By Design" program, allowing the Foundation to nominate up to two directors to Solmate's Board [2] - Ark Invest disclosed an approximately 11.5% stake in Solmate Infrastructure, marking a significant investment by a regulated American ETF into crypto infrastructure [3] Group 2 - The CEO of Solmate Infrastructure emphasized an infrastructure-first strategy to drive innovation within the Solana ecosystem, positioning the company advantageously in the UAE [4] - Solmate Infrastructure aims to process Solana transactions more efficiently and profitably than competitors, supported by various investors including Ark Invest [4] - Brera Holdings PLC focuses on expanding its portfolio of football clubs globally through a multi-club ownership strategy, enhancing its presence in the sports industry [5]

Core Insights - OnePay, a financial technology firm owned by Walmart, is integrating Bitcoin and Ethereum trading into its mobile app, collaborating with Zerohash for custody and trading solutions [1][2] - This development indicates that cryptocurrency is becoming a fundamental offering alongside traditional banking services [2] - OnePay was launched in 2021 through a partnership between Walmart and Ribbit Capital, aiming to provide modern financial solutions [2] Company Features - The OnePay mobile banking app currently includes a digital wallet with Walmart rewards, a high-yield savings account, and a debit card [3] - Specific details on additional crypto features beyond trading and holding assets are not yet disclosed [3] Market Position - OnePay's app has significantly increased in popularity, rising at least 50 spots in both Apple and Google Play stores over the last month, now ranking 58 and 73 overall [5] - The app is among the top 5 in the finance category in both app stores [5] Industry Context - Walmart has previously been linked to cryptocurrency initiatives, including a potential stablecoin introduction reported in June [5] - Zerohash, the infrastructure firm supporting OnePay's crypto initiatives, recently raised $104 million, increasing its valuation to $1 billion [4]

Core Viewpoint - Bakkt's recent stock surge of 170% has not diminished its upside potential, as Benchmark has raised its price target significantly from $13 to $40 while maintaining a buy rating on the stock [1][2] Financial Metrics - Bakkt currently trades at 9.9 times estimated 2026 EBITDA, which is considerably lower than its peers: Coinbase at 24.1x, Robinhood at 45.5x, and Circle at 49.9x, indicating a relative discount and suggesting the stock is inexpensive given its growth profile [2] Strategic Developments - The stock rally supports the strategic reset under CEO Akshay Naheta, who has identified growth opportunities in crypto infrastructure, stablecoin payments, and a new bitcoin treasury strategy [3] - Bakkt has divested its custody division and is exiting its legacy loyalty business, which were costly and non-core, positioning the company to achieve profitability in the first half of 2026 [3] Leadership Changes - The appointment of fintech veteran Mike Alfred to Bakkt's board is seen as a positive move, bringing valuable experience in financial services and digital infrastructure, which is expected to enhance decision-making as the company scales [4]

Core Insights - ZeroHash has raised $104 million in a Series D-2 funding round, achieving a valuation of $1 billion, with participation from major financial institutions like Morgan Stanley and Interactive Brokers [1][2] - The total funding for ZeroHash now stands at $275 million, which will be used for product expansion and talent growth, aiming to become a leading provider of on-chain infrastructure [2][4] - The fundraising reflects a growing demand for enterprise-grade crypto infrastructure as financial institutions increasingly seek to offer tokenized assets and stablecoins [4] Company Overview - Founded in 2017, ZeroHash provides APIs and developer tools that enable financial institutions and fintechs to offer crypto, stablecoin, and tokenization products [3] - The platform supports solutions for notable clients such as Interactive Brokers, Stripe, and BlackRock, serving over 5 million users across 190 countries [3] Industry Trends - The investment round indicates a trend of increasing interest from financial institutions in building scalable on-chain solutions, highlighting the evolving landscape of crypto and stablecoin infrastructure [2][4]