Bitcoin

Kevin Durant’s forgotten Coinbase account, containing Bitcoin purchased in 2016, has become a surprisingly profitable investment due to the cryptocurrency’s surge in value. Agent Rich Kleiman revealed that Durant’s team has been unable to access the account due to a forgotten password, leading to an unintentional “hodl” strategy. While Bitcoin’s value has skyrocketed by over 11,000% since Durant’s initial investment, the situation highlights the challenges of digital asset management and account recovery, even for prominent figures. Durant and Kleiman are also investors in Coinbase Global and have a partnership with the platform.

LQWD Technologies announced a non-brokered private placement to raise up to C$2 million by issuing units at C$1.50 each. Each unit includes one share and a warrant exercisable at C$2.00. Proceeds will fund Bitcoin purchases for deployment on the Lightning Network to generate yield. The placement includes participation from shareholders, directors, and management, subject to TSXV approval. Shares and warrants are subject to a four-month hold period, with a potential acceleration clause if the stock price increases.

Bitcoin rose to $111,000 amidst falling stocks and gold’s record high. Cryptocurrency is benefiting from expectations of future rate cuts and geopolitical uncertainty, though Ethereum’s rise has impacted Bitcoin’s dominance. Analysts believe a dovish Fed pivot could help Bitcoin break through resistance. Ether remained stable, while Solana’s token (SOL) outperformed Bitcoin and Ether recently. Crypto-related stocks showed mixed performance.

Eric Trump predicted Bitcoin would reach $1 million at the Bitcoin Asia 2025 conference in Hong Kong, marking the start of an Asian crypto push by the Trump sons. The brothers are expanding their ventures, including American Bitcoin and World Liberty Financial, into Asia, with appearances planned in Japan, South Korea, and Singapore. President Trump’s pro-crypto stance, reflected in policy changes and appointments, faces scrutiny amid potential conflicts of interest and ethical concerns. Some Hong Kong officials withdrew from the event, highlighting political sensitivities.

German mobile phone repair firm Einhaus Group, with €70 million in annual revenue, filed for bankruptcy after a crippling ransomware attack by the “Royal” group in March 2023. The attack encrypted key systems, leading to a ransom payment and significant financial losses. The company downsized drastically, selling its headquarters and cutting staff from 170 to eight. While suspects were apprehended, the ransom hasn’t been recovered. Founder Wilhelm Einhaus plans to start over, highlighting the devastating impact of ransomware on businesses.

Volcon (VLCN) now holds 3,183.37 BTC, acquired for approximately $375 million at an average of $117,697 per Bitcoin. The company is actively managing its position by selling short-term put contracts to potentially acquire more Bitcoin at lower prices. Volcon’s board has also authorized a $100 million stock repurchase program. The company believes this treasury strategy reflects its confidence in Bitcoin as a long-term store of value. Volcon aims to offer investors efficient exposure to Bitcoin through the public equity market.

Sixty Six Capital Inc. is increasing its Bitcoin holdings, acquiring 18.2 BTC for CAD$2,634,450 and planning to convert its BTCC.B ETF holdings to direct BTC ownership. The company will also launch a private placement financing to raise USD$2.5 million for further Bitcoin acquisitions and operational expenses. This strengthens its commitment to the digital asset space.

IREN Limited has priced a $500 million offering of convertible senior notes due 2029, upsized from an initial $450 million, signaling strong investor interest. The offering, coupled with capped call transactions, aims to mitigate dilution risk. Proceeds will fund the capped call transactions, a prepaid forward transaction, and general corporate purposes. Key note terms include a 3.50% coupon, semi-annual interest payments, and an initial conversion price of approximately $13.64 per share. The company is strategically positioning itself in Bitcoin, AI, and next-generation computing.