NovaBay Pharmaceuticals was founded in 2000 as a biopharmaceutical company developing eye care products and is now betting big on the Sky protocol and stablecoins. Shares in NovaBay Pharmaceuticals jumped nearly 19% after the company announced it would change its name to Stablecoin Development Corporation as part of its strategic crypto pivot. NovaBay Pharmaceuticals CEO Michael Kazley said in a statement on Monday that the company’s plan going forward is to access cash flows within the growing stablecoin economy. “The name change to Stablecoin Development Corporation reflects our conviction that stablecoins represent the most compelling structural opportunity in digital finance,” he said. Read more
Strategy is increasingly turning to perpetual preferred stocks to fund its Bitcoin strategy, with the company adding 90,000 BTC to its balance sheet so far this year. Michael Saylor’s Strategy has announced several capital-raising programs totaling $44.1 billion to fund Bitcoin purchases, including the sale of common shares and two of its dividend-paying equity vehicles. Strategy plans to raise up to $21 billion by selling Strategy (MSTR) stock and another $21 billion from its high-yield perpetual preferred stock, Stretch (STRC), via new at-the-market programs, the company said in an 8-K filing to the US Securities and Exchange Commission on Monday. Strategy also intends to sell up to $2.1 billion worth of Strike (STRK) — another of its perpetual preferred stock offerings. The company didn’t specify a timeline for the issuances, stating that shares may be sold “from time to time.” Read more
Rising inflation concerns weigh on Bitcoin’s breakout as traders refuse to take on bullish positions, despite Monday’s 4% price bounce. Key takeaways: Bearish Bitcoin futures premiums and low call option odds suggest traders remain skeptical despite BTC’s brief 4% relief rally. High oil prices and cautious Fed policy continue to pressure risk assets, while Bitcoin derivatives metrics signal a lack of conviction. Read more
A letter to the influencer and the CEO of his holding company expressed concerns about whether the two will allow minors to trade crypto through a recently acquired banking app. Massachusetts Senator Elizabeth Warren has raised concerns about whether YouTuber Jimmy Donaldson, better known as “MrBeast,” intends to market cryptocurrency to teenagers and young adults following his purchase of a mobile banking app. In a Monday letter to Donaldson, Warren questioned whether the online influencer planned to use his company’s acquisition of the mobile banking app Step to push crypto transactions and purchases on young people. Donaldson, a YouTuber who grew an online following due in part to his stunts and financial giveaways, founded his holding company, Beast Industries, in 2012 with the launch of his channel. In February, the company acquired Step, with a reported seven million-person user base. At the time, Donaldson said the purchase was aimed at “giv[ing] millions of young people the financial foundation I nev...
Forrester says Stripe’s Machine Payments Protocol reflects a shift toward automated transactions, as AI agents remove behavioral barriers that hindered micropayments. Stripe’s newly launched Machine Payments Protocol (MPP) could mark a turning point for micropayments — a long-promised but underutilized use case in crypto and beyond — as AI agents reshape how transactions are made. That’s the key takeaway from newly published analysis by Forrester senior analyst Meng Liu, who argues that MPP may succeed where decades of earlier efforts failed. Introduced earlier this month, MPP enables AI agents to execute transactions automatically, removing the need for human approval at each step. It is described as an open protocol for coordinating payments between AI agents and services. Liu frames this as a structural shift from human-initiated payments to machine-to-machine transactions. Read more
The platform lets investors create and rebalance onchain equity portfolios while directly holding the underlying assets. Glider and Ondo Finance have introduced a platform to let retail investors build and automate custom portfolios of tokenized US stocks, offering direct exposure to equities without a brokerage account. According to the announcement, the platform allows users to create personalized baskets of onchain stocks that track real-world assets, removing the need for wallets, gas fees or manual transaction management. Glider co-founder and CEO Brian Huang told Cointelegraph that unlike traditional exchange-traded funds, which bundle assets into fixed products, the platform lets users construct index-like portfolios with custom weightings that are automatically maintained, avoiding reliance on pooled products. Read more