ReserveOne, a newly formed cryptocurrency holding company, has announced plans to go public on the Nasdaq through a special purpose acquisition company deal with M3-Brigade Acquisition V Corp, aiming to raise over $1 billion. The firm intends to manage a portfolio of key cryptocurrencies, including Bitcoin, Ethereum, and Solana. Notable industry players such as Blockchain.com and Kraken have committed up to $750 million through equity and convertible debt offerings. The company's leadership includes CEO Jaime Leverton, former head of Hut 8, and President Sebastian Bea, formerly of BlackRock and Coinbase Asset Management. The board is chaired by Tether co-founder Reeve Collins and includes Wilbur Ross, former U.S. Commerce Secretary. This move reflects a growing trend to integrate cryptocurrency holdings into publicly traded vehicles, aiming to provide traditional investors with easier access to crypto assets via equity markets.
In a significant development, Trump Media & Technology Group, the company behind Truth Social, has filed with the Securities and Exchange Commission to launch a new cryptocurrency exchange-traded fund named the "Crypto Blue Chip ETF." This ETF will primarily invest in five major cryptocurrencies: 70% in Bitcoin, 15% in Ethereum, 8% in Solana, 5% in Ripple's cryptocurrency, and 2% in Crypto.com's token. This marks a shift from an earlier Trump Media proposal that included only Bitcoin and Ethereum. The ETF aims to simplify crypto investment for the public without direct crypto purchases. This move aligns with the Trump administration’s broader efforts to create a crypto-friendly regulatory environment, reflected in recent SEC guideline updates and the halting of several enforcement actions. Formerly skeptical, President Trump has strongly embraced the crypto industry, which has provided him significant financial support. However, the administration’s close financial ties with crypto businesses have drawn criticism and concerns about ethics and long-term industry stability. Trump defends his policies as positioning the U.S. as a global crypto leader.
Following the successful passage of the budget reconciliation bill, Republican congressional leaders have turned their focus to cryptocurrency legislation. The Senate Banking Committee is expected to hold a hearing on crypto market structure, and the House plans to observe “Crypto Week,” considering bills like the CLARITY Act, the Anti-CBDC Surveillance State Act, and the GENIUS Act. These proposals aim to solidify the U.S. as a global crypto leader. Experts believe stablecoin legislation could have significant economic benefits, although combining both market structure and stablecoin bills could yield the greatest impact. Additionally, a major dormant Bitcoin wallet from 2011 moved $8.6 billion worth of Bitcoin, raising speculation but showing no signs of market disruption. Some believe the activity was for security upgrades. In venture capital news, Ego Death Capital raised $100 million for its second fund, targeting Bitcoin-based software companies poised for growth. Unlike many crypto investors, Ego Death avoids tokens and focuses on Bitcoin-native ventures generating real-world value and cash flow in Bitcoin.
Russian firms are increasingly relying on alternative methods such as netting, gold, and cryptocurrency for cross-border payments, according to Yuri Chikhanchin, head of Russia’s financial watchdog. These methods have become critical since traditional payment channels were disrupted in 2024 due to the threat of secondary U.S. sanctions targeting Russia's trading partners, including China, India, Turkey, and the UAE. Netting involves balancing export and import payments via verified agents to ensure that counterparties receive funds domestically. This practice, along with gold and crypto transactions, has helped businesses adapt to ongoing sanctions. Chikhanchin emphasized a strategic pivot toward the Middle East and Asia for financial flows. However, he urged enhanced regulation in the gold trade, warning of arbitrage due to lax domestic oversight. He also introduced "Transparent Blockchain," a new system co-developed with the central bank and VTB to monitor crypto transactions, expected to go live by the end of 2025. Chikhanchin is the first high-ranking official to publicly detail these financial mechanisms, which are typically not discussed openly.
In the latest market developments, Bitcoin is trading at $108,825, with a slight increase of 0.00068% from the previous close. Ethereum is priced at $2,616.46, up 2.038% from the previous close. BNB is at $659.63, down 0.092%, while XRP is trading at $2.34, up 2.183%. Cardano is priced at $0.597653, up 2.522%. These movements reflect the dynamic nature of the cryptocurrency market, influenced by various global economic and political factors.
