HYPE rallies toward $50 after Sonnet BioTherapeutics combines with Rorschach to launch a $583 million Hyperliquid token treasury. Key point: Corporate treasury buying could boost sentiment, pushing HYPE above its $50 resistance level. Nasdaq-listed biotech company Sonnet BioTherapeutics said on Monday that it had formed a business combination with a newly created entity, Rorschach, to launch a Hyperliquid (HYPE) digital asset treasury. Read more
With millions in crypto flowing into US elections, governments worldwide face pressure to regulate digital campaign contributions. While countries like the United States explore crypto as a new campaign fundraising tool, ministers in United Kingdom are sounding the alarm, with one calling for a ban on crypto donations over concerns about traceability and foreign interference. On Tuesday, Pat McFadden, a Cabinet Office minister, said he thought there was a case to be made for banning such donations, considering how hard they are to trace. McFadden addressed the topic after being asked by Labor party member Liam Byrne about banning crypto fundraising, saying that the UK should always keep its “legislation up to date to ensure that the financing of politics can be trusted by the public. Read more
Bitcoin shows its first major bearish signal in weeks, yet strong dip-buying and key support levels keep the bullish outlook intact. Key takeaways: Bitcoin formed a bearish engulfing candle, indicating potential short-term exhaustion. The Miners’ Position Index surged to its highest level since November 2024, and profit-taking hit record highs. Read more
The $100M acquisition brings Coin Metrics’ data, indexes and onchain analytics into Talos’s growing platform for institutional investors. Talos, a platform that provides trading infrastructure and technology for institutions trading digital assets, has agreed to acquire Coin Metrics, a popular blockchain analytics platform. A source told Fortune that the deal closed at over $100 million, though at the time of writing, it remains unclear how much was paid in cash versus equity. The acquisition will enable Talos to incorporate Coin Metric’s crypto market data, benchmark indexes and analytics tools into its platform. Read more