In short
- Coinbase raises $ 2 billion on convertible banknotes for acquisitions and general business purposes in the midst of analyst problems compared to the fall in revenue of Q2.
- Two Seas Capital, the largest shareholder in Core Scientific with an interest of 6.3%, opposes the $ 9 billion prominent sale to CoreWeave as “insufficient appreciation”.
- Block Inc. has added 108 Bitcoin to his business treasure box in Q2, which means that the total number of companies at 8,692 BTC with a value of around $ 1 billion with 273% paper profit.
Public Keys is a weekly roundup of Decrypt That follows the most important listed crypto companies.
Coinbase Convertible Raise
Crypto Exchange Coinbase raises a little money – only $ 2 billion – in convertible banknotes.
Of course we hear things like this when the Bitcoin and Ethereum are treasuries. But the company established in San Francisco said that this increase will be used for “general business purposes” and “acquisitions of other companies, products or technologies.”
The announcement landed immediately after some analysts (not all), decided that they did not like the appearance of that 25% turnover decrease in the second quarter.
Compass Point moved coin from the neutral column and said that the income miss confirmation was that the retail trade company of the company is “disrupted” by decentralized fairs and ETFs.
That could help explain why Coinbase has just rolled out decentralized exchange trade in its app for its American users.
More disturbing, however, was the fact that subscriptions and services no longer had to contribute, the analysts said. That is the line item that treats the Premium Coinbase One memberships, Stablecoin income, commitment and guardianship services.
With the presidential ink dry on the Stablecoin-regulating Genius Act, USDC Emittent Circle for a few months in his term of office as a listed company (remember that they share a deal with income), and the proliferation of digital asset box-analysts expected to overform.
Core Combo Fight
One of the best investors of Bitcoin Miner Core Scientific wants to cut the music on the nuclear fusion dance.
Two Seas Capital, the largest active shareholder in Core Scientific with an interest of 6.3%, intends to vote against a $ 9 billion all-Stock sale to CoreWeave, who says on Thursday in a press release that the offer represents an “insufficient valuation”.
The company said that it has established such a great importance in Core Scientific because it believes that it is a strong contender to build “critical, powerful computer infrastructure on scale”-infrastructure that was very necessary to provide the tree with artificial intelligence.
Two seas, which is also an investor in CoreWeave, said that the structure of the Deal -Shortchanges Corz investors and leaves them volatility of CRWV.
“In our opinion, the transaction is decided and unfairly in favor of CoreWeave at the expense of the scientific shareholders of the core,” the company added, to wave the board for not entertaining offers from other lovers.
The mood is not yet planned, but it is expected that it will take place before the end of the year.
In the meantime, Core Scientific reported his Q2 income after the bell on Friday. But there were too many potential musiefacas for an actual win.
“Because of the hanging transaction with CoreWeave, Inc., which was previously announced on July 7, 2025, the company will not host conference call or webcast to discuss the second quarterly year 2025 results,” the company said.
Block Bitcoin
Block Inc. has added 108 Bitcoin to his business ownership in Q2, which brought its total company property to 8,692 BTC – around $ 1 billion for the current price.
Keep in mind that Block CEO Jack Dorsey has been a fan of Bitcoin since the earliest days. It would be no surprise that the company increases its own BTC treasure box.
With an average cost of $ 31,248 per BTC, the company is on paper profit of 273.29%. But the more interesting data point comes from the bitcoin that the company has sold – but not his.
With Block Inc. People can buy Bitcoin through his very popular cash app. And of the $ 6 billion in income that the company saw in Q2, $ 2.14 billion of it was only generated by Bitcoin sales in the app.
That Bitcoin income shows only a slight delay of the first quarter, when the company reported $ 2.3 billion in income from Bitcoin. As Block Inc. Last year 2025 Bitcoin Revenue Top wanted to see, it has to pick up the things in the back of the year.
In 2024, Block reported for $ 10.2 billion in Bitcoin income for the entire year – which means that it is now lagging behind that brand.
But Dorsey had promises from other Bitcoin news during yesterday’s profit call: “We are going to have something new very quickly,” he said about Proto, the Bitcoin mining initiative of the company.
And, you would not guess, Proto has locked up a deal to sell his Bitcoin -my -construction chips to none other than Core Scientific in one of the largest ASIC agreements that have ever been signed.
Other Keys
Bullish makes it official: Crypto Exchange Bullish formally registered its original public offer at the SEC, with the aim of picking up $ 629 million in the event of a rating between $ 3.8 and $ 4.2 billion. This will be the second attempt by the company to become public, after he had agreed a spac fusion in 2022.
Buy the Solana Dip: When alts take a breathing break, treasury companies cover their treasury. Defi DEV Corp bought $ 18 million from Solana on Monday, which brought its total interests to 1.23 million Sol.
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