The fresh debt draw shows how Metaplanet is using both debt and preferred equity to accelerate Bitcoin purchases and income-generation strategies. Tokyo-listed Bitcoin treasury company Metaplanet has drawn another $130 million in Bitcoin-backed credit, expanding its use of collateralized borrowing to accelerate BTC purchases, income-generation strategies and potential share buybacks. On Tuesday, Metaplanet disclosed it executed the loan on Friday under a previously announced credit facility. The borrowing forms part of the company’s $500 million credit line, which allows it to raise short-term liquidity using its Bitcoin (BTC) as collateral. With the fresh capital, the company has now drawn $230 million in cumulative loans from the facility, up from the $100 million disclosed for an earlier Oct. 31 credit pull. Read more
A suspected airdrop farmer burned through their entire $112,000 of MON rewards in hundreds of failed transaction attempts. A crypto airdrop farmer lost more than $112,000 in newly issued tokens by burning the entire reward on failed blockchain transactions. In crypto, a professional airdrop farmer (or squatter) is a person who interacts with emerging protocols solely for the airdrop rewards, often using multiple wallets to compound the rewards. Cryptocurrency wallet 0x7f4 received about $112,700 worth of Monad (MON) tokens as a reward for activity leading up to the launch. Read more
Strike CEO Jack Mallers said JPMorgan closed his accounts without explanation, reigniting fears of Operation Chokepoint 2.0 and renewed pressure on crypto companies. Banking giant JPMorgan Chase’s decision to cut ties with the CEO of Bitcoin payments company Strike is reigniting concerns about a renewed wave of US “debanking,” an issue that haunted the crypto industry during the 2023 banking turmoil. Jack Mallers, CEO of the Bitcoin (BTC) Lightning Network payments company Strike, said Sunday on X that JPMorgan closed his personal accounts without explanation. “Last month, J.P. Morgan Chase threw me out of the bank,” Mallers wrote. “Every time I asked them why, they said the same thing: We aren’t allowed to tell you.” Read more
Solana ETFs have pulled in $369 million so far this month as investors appear to favor yield-bearing products, while Bitcoin and Ether ETFs faced billions in redemptions. Despite steep redemptions from Bitcoin and Ethereum ETFs, Solana attracted $369 million of inflows this month as investors increasingly positioned SOL as a yield-generating asset. According to Bohdan Opryshko, co-founder and chief operating officer of Everstake, both institutions and retail holders are “treating Solana as a yield-generating asset rather than a speculative trade.” He told Cointelegraph that Solana’s native staking rewards of 5%–7% have created an appeal that Bitcoin (BTC) ETFs cannot match, and only a limited set of Ethereum products currently offer. Read more
Federal Decree Law No. 6 expands the UAE central bank’s authority over DeFi, ending the “just code” defense and imposing penalties of up to $272 million. A new financial law in the United Arab Emirates is set to bring decentralized finance (DeFi) and the broader Web3 industry under regulatory parameters, signaling an important shift for the industry. The UAE’s new central bank law, Federal Decree Law No. 6 of 2025, introduces “one of the most consequential regulatory shifts” for the crypto industry in the region, Irina Heaver, a local crypto lawyer and founder of NeosLegal, told Cointelegraph. “It brings protocols, DeFi platforms, middleware, and even infrastructure providers into scope if they enable activities such as payments, exchange, lending, custody, or investment services,” Heaver said. Read more
The Pump.fun co-founder disputed claims of a massive off-ramp and said Pump.fun’s USDC shifts were routine treasury operations. Pseudonymous Pump.fun co-founder Sapijiju rejected claims that the project cashed out more than $436 million in stablecoins, calling the allegations “complete misinformation” from the blockchain analytics firm Lookonchain. In an X post, Sapijiju addressed the report, insisting that none of the transferred funds were sold. He said the USDC originated from the PUMP token’s initial coin offering (ICO) and was simply redistributed to internal wallets as part of the company’s treasury management process. “What’s happening is a part of Pump’s treasury management, where USDC from the $PUMP ICO has been transferred into different wallets so the company’s runway can be reinvested into the business,” Sapijiju. “Pump has never directly worked with Circle.” Read more
Exodus is using its Bitcoin reserves to back a $175 million acquisition of W3C Corp, bringing Monavate and Baanx under its roof as it expands into onchain payments. Crypto wallet provider Exodus plans to use its Bitcoin reserves to finance a major push into onchain payments, striking a $175 million deal to acquire W3C Corp, the parent company of payment infrastructure providers Monavate and Baanx. The agreement, announced on Monday, marked a major shift in strategy for the NYSE-listed company. By bringing Monavate and Baanx in-house, Exodus aims to become one of the few self-custodial wallets to control the entire payments stack, from crypto storage to card issuance. “By bringing card and payments infrastructure in-house, we are closing the gap between holding and spending, and positioning Exodus as the only platform you need for your money,” CEO JP Richardson said. Read more