SharpLink bought $667 million in Ether at near-record highs, lifting its holdings to $3.2 billion as institutional ETH accumulation accelerates. Sports betting platform SharpLink Gaming snapped up Ether last week as the cryptocurrency surged to near all-time highs. SharpLink added 143,593 Ether (ETH) as ETH prices climbed above $4,700, according to a filing with the US Securities and Exchange Commission on Tuesday. SharpLink’s latest ETH purchases came at near-record prices, paying an average price of $4,648 per ETH, totaling $667.4 million. Read more
1inch co-founder Sergej Kunz told Cointelegraph that in two to three years, there may be a multichain DeFi stack that allows liquidity to flow freely between networks. Decentralized finance (DeFi) exchange platform 1inch launched crosschain swaps between the Solana network and Ethereum Virtual Machine (EVM) networks, eliminating the need for bridges or messaging protocols in transferring assets across networks. The upgrade went live on Tuesday, launching on 1inch’s decentralized application (DApp), wallet and Fusion+ API, according to an announcement sent to Cointelegraph. The DeFi platform said the new feature allows users to swap assets directly between Solana and over 12 EVM chains in a secure, efficient and MEV-protected manner. The new feature can be described as “industry-first native decentralized crosschain swaps,” according to 1inch. Its co-founder, Sergej Kunz, told Cointelegraph that the breakthrough came from adapting 1inch's Fusion+ architecture, initially designed for EVM-only swaps, into Sola...
A DeFi investor was hit with a $10.5 million tax bill after the Spanish tax agency classified a crypto-backed loan as taxable gains. A Spanish decentralized finance (DeFi) investor was hit with 9 million euros ($10.5 million) in back taxes for taking out a crypto-backed loan, according to a local media report. In a Thursday report, Spanish news outlet Periodista Digital said it obtained documents showing the investor had already declared all cryptocurrency operations and paid $5.84 million in taxes. Three years later, authorities issued an additional bill tied not to undeclared profits, but to the act of depositing assets into a DeFi protocol in exchange for a loan. The assets were not sold, and no profit was realized, the report said. Read more
Healthcare company KindlyMD recently merged with Nakamoto, a Bitcoin entity established by former Trump crypto adviser David Bailey, with the aim of acquiring 1 million BTC. Nasdaq-listed healthcare service provider and Bitcoin treasury company KindlyMD has acquired $679 million worth of Bitcoin for its corporate reserve. KindlyMD acquired 5,744 Bitcoin (BTC) for about $679 million at a weighted average price of $118,204 per Bitcoin, the company announced Tuesday. The purchase was made using private investment in public equity (PIPE) proceeds and reflects KindlyMD’s “disciplined Bitcoin treasury strategy,” the company said. Read more