The London-based fintech, already puffed up to a valuation of $75 billion in a secondary share sale last November, has declared it shall not deign to grace the stock market with its presence before 2028. A source, no doubt sipping claret in some oak-paneled room, assured the FT that no formal valuation has been set-yet.
A company of considerable reputation, valued at eleven billion dollars by those who measure men by their coin, teased this project through a LinkedIn image, cryptic and smiling. A torus turning upon itself, a symbol named Timeless, and an April twenty-seventh launch date in New York-such is the pageantry with which modern prophets announce their wares.
Warsh’s diagnosis was merciless. He said the Fed kept interest rates stuck at zero while prices did a sexy Russian twist up to 35%, then decided to lift rates like a toddler learns to walk. He summed it up in a single phrase: “Fatal policy error.”
In a missive that could only be described as a blend of financial foresight and poetic license, X Finance Bull has painted a picture of progress. White House crypto advisor Patrick Witt, with the gravitas of a statesman, speaks of compromises between banks and the crypto industry-a détente over stablecoin yields. Senator Mark Warner, with the zeal of a man who has just discovered fire, proclaims that more has been achieved in four days than in four months. And Senator Cynthia Lummis, ever the pragmatist, assures us that the clash over stablecoin rewards is 99% resolved. One wonders what the remaining 1% might entail-perhaps a disagreement over the proper pronunciation of “blockchain.”
Now, let’s talk timing because it’s like the universe is telling us something. Bitcoin has been doing its best impression of a flat tire for nearly three months now. The data is practically screaming that the market’s patience is wearing thinner than my willpower at an all-you-can-eat buffet.
Picture, if you will, a British fintech firm that ditches the ordinary pursuit of pips, and declares, in the most casual of tones, that it will someday float on a scale of $200 billion. The Financial Times reported this revelation on a Tuesday that would otherwise have been a mundane Tuesday.
On a fateful Tuesday, amidst the clamor of a nation enamored with crypto, Ms. James unveiled her allegations, accusing these enterprises of conducting prediction markets that tread perilously close to the precincts of illegal gambling as delineated by the venerable laws of New York.
Well, well, well. Look who’s making waves in the land of halo-halo and karaoke! Coins.ph has officially outdone itself this week by becoming the first e-wallet in the Philippines to let users pay with stablecoins using the national QRPh standard. Yes, you read that right. Your crypto is now as useful as your suki card at the local sari-sari store.
The accumulation chart allows the journey to be savoured in a manner the headline numbers merely pretend not to notice. From 2021 through mid-2024 Strategy’s staircase rose with stoic regularity-gradual, disciplined purchases, moderate steps. From mid-2024 onward the composition of the buying changed: the steps swelled into more generous strides, more frequent appearances, and a charming independence from mere price direction.
The drama kicked off on April 18, when the Kelp DAO rsETH bridge was exploited to the tune of $292 million. The attacker, clearly a fan of high-stakes financial thrillers, used forged messages to mint unbacked rsETH, which was then deposited into Aave as collateral. This allowed them to borrow nearly $200 million in WETH, because why stop at one bad decision when you can make several?
