Ripple ranks as one of the top 10 pre-IPO companies on EquityZen, while major crypto firms like Tether and Gemini saw the largest spike in popularity in Q2 2025. The bankruptcy of Linqto, a private investment marketplace holding 4.7 million secondary shares of Ripple, will have no impact on the broader pre-initial public offering (IPO) markets, according to EquityZen. Linqto filed for Chapter 11 bankruptcy on Monday, fueling investor concerns about the status of private investments. The company previously allowed users to invest in private companies such as Ripple ahead of potential public listings. According to EquityZen, one of the largest secondary trading platforms for private shares, Linqto’s bankruptcy has no impact on other businesses in the pre-IPO market. Read more
Binance founder Changpeng Zhao’s investment firm is backing the creation of a company that will buy and hold BNB with plans to go public in the US. Binance co-founder Changpeng Zhao’s family office, YZi Labs, is set to back a new treasury firm that will offer investors exposure to BNB with aims of going public in the US. YZi Labs said on Wednesday it will support the investment firm 10X Capital in spinning up a BNB (BNB) treasury company that will pursue a listing on “a major US exchange,” according to a statement shared with Cointelegraph. Called “The BNB Treasury Company,” the company will appoint David Namdar as CEO. He’s a senior partner at 10X Capital and a co-founder of Galaxy Digital, where he was formerly co-head of trading. Read more
BONK is facing profit-booking near $0.000026, but the pullback is likely to find buyers near $0.000020. Key point: BONK has pulled back after the sharp rally, but no topping signs are visible on the charts yet. Solana memecoin launchpad LetsBonk’s 24-hour revenue surged to $1.04 million on Monday, nearly double the revenue of Pump.fun at $533,412, according to data aggregated by decentralized finance platform DefiLlama. Read more
The motion to pause repayments to residents of certain countries has added a new wrinkle to the FTX saga. A Chinese creditor has filed an objection to a motion from the FTX estate that would pause payouts to residents in jurisdictions with laws or regulations restricting cryptocurrency transactions, according to a Tuesday court filing. The creditor, Weiwei Ji, stated that although they reside in Singapore, they have been classified as a Chinese creditor due to holding a Chinese passport. Ji noted that the objection was submitted on behalf of Ji and a growing group of Chinese creditors — reportedly over 300 individuals, according to the filing. The objection raises two key arguments: First, that FTX settlements are made in US dollars, which are a standard legal repayment method. Second, it notes that cryptocurrency distributions are legal in China, with digital assets constituting “personal property.” “My family holds four KYC-verified accounts with aggregate claims exceeding $15 million USD… We have fully com...