Public Keys: Ethereum Treasuries Soar, Bitcoin ETFs’ $1 Billion Bleed, Crypto IPO Chatter

Public Keys is a weekly roundup of Decrypt That follows the most important listed crypto companies.

Wings of a pigeon

Crypto shares (and the rest of the crypto and the stock market) rise thanks to a large boost from the Federal Reserve chairman Jerome’s Dovish Speech on the Jackson Hole Symposium on Friday morning.

Crypto and shares tend to get a boost when the FED lowers the rates because it activates a rotation of funds of treasury bonds and in risk-on assets.

During the day His commentsPowell said that “shifting balance of risks can justify our policy position.” In other words, he opened the possibility for a rate reduction when the Federal Open Markets Committee meets again in September.

The shares of Crypto Exchange Coinbase won around 6% and Bitcoin Hamarding Behemoth strategy rose by 5% in the day – a nice reversal from earlier in the week.

But they are Bitcoin Miners and Ethereum Treasury companies that have won the day. The two largest Ethereum treasuries – Former Bitcoin Miner Bitmine immersion and online gambling marketer Sharplink – achieved 12% and 15.6% respectively.

The manufacturer of Bitcoin Mining Rig Canan’s stock won with 12%, and Bitcoin Miners Riot platforms and Iris Energy won 7.7%and 9.3%respectively.

Katalin Tishhauser, head of research at Sygnum Bank, noted that although crypto markets had a “fast and positive” response to the news, she marked that the underlying economic data still shows signs of problems.

“Even if a September cut does not come out, the market has proved resilient to digest disappointments from the past while they are still set new highlights. Momentum can continue, albeit with a higher volatility,” she told Decrypt. “In the meantime, spiral debts and rising inflation remain unsolved structural problems that reinforce the case for safe port activa in the longer term.”

$ 1 billion bleeding

Bitcoin ETFs have just spent five days in the red and shed $ 1 billion – even while their Ethereum opposite had a change. On Thursday, Ethereum funds stopped bleeding and drew $ 288 million in net deposits.

The dominance of Ethereum in the current market story is very justified, according to the last note of M31 Capital.

The private equity and venture capital fund pointed out that infrastructure, Defi, L1 and L2 networks and web3 companies were all in the green-and everything came out for Bitcoin.

But nothing less than another all time for BTC went to the record setting run from last week to $ 124.128.

Figure on the runway

Just as Bullish makes his $ 1.15 billion debut, a new crypto company is ready to test its wings.

Blockchain Lender Figure Technologies has submitted paperwork for a first public offer.

Now it is important to make a distinction about which figure has given the history of crypto -lenders in space: Figure uses his platform to make loans outside the traditional scope of the crypto industry, such as real estate, possible.

The company says it is the largest non-banking supplier of credit lines at home in the US and that his software has been used for more than $ 16 billion in home credits.

Illia Otychenko, the main analyst at Cex.io, said Decrypt Earlier this week, the company dominates “The Tokenized Private Credit space, with more than 70% market share and more than $ 11 billion in active loans on its origin blockchain.”

Figure was co-founded by Sofi co-founder and former CEO Mike Cagney, who left the bank in 2017 in the midst of allegations of sexual harassment. The IPO would mark its return to leading a listed company.

“The IPO is a step in a long process to bring blockchain to all aspects of capital markets,” he said in that of the company Sec. But not yet a word about share prices.

Other Keys

Wood: Nasdaq has deleted drug developer Windree Therapeutics, who announced last month that it would buy $ 700 million from Binance Binance. Said the company in one Sec These are no longer acting on the Nasdaq for not maintaining the minimum bid price of $ 1 per share that the stock market is required.

Vs made: Bitcoin Miner Bitdeer confirmed that this year it will start producing mining installations in the US. That news came when two of his Iris Energy and CleanSparks were reached with letters from US Customs and asked for millions of rates on Chinese-replacement assignments purchased in 2024.