In a recent press release, it was announced that Sonnet BioTherapeutics, a Nasdaq-listed biotech firm, has agreed to an $888 million business combination with Rorschach I LLC, a newly formed entity backed by Atlas Merchant Capital and Paradigm. This bold move will see Sonnet pivot into a crypto treasury strategy, leaving behind its traditional biotech roots.
Lo and behold, a Form 8-K, the kind of document that makes accountants weak in the knees, graced the desks of the U.S. Securities and Exchange Commission on July 14. It revealed that our strategy maestro acquired 4,225 Bitcoin (BTC) between July 7 and July 13, all for the princely sum of $472.5 million—meaning they paid a heart-stopping average of $111,827 per coin. How’s that for a party trick? 🥳
Now, don’t get too excited just yet. The official documents won’t see the light of day until the U.S. Securities and Exchange Commission (SEC) finishes their little inspection. You know how these things go—more delays than a snail on a treadmill. 🐌
According to the trusty Shibariumscan, the total number of blocks has skyrocketed to a whopping 12,009,576! 🚀 That’s a jolly impressive figure, if we do say so ourselves. And what’s behind this remarkable growth, you ask? Why, it’s those speedy blocks, of course! Shibarium’s average block production time is a mere five seconds, making it the cat’s pajamas among L2 protocols! 🐈
Bitcoin’s new highs above $122,000 translate to 29% year-to-date gains, overtaking gold’s 27%.
In a chat with Dierdre Bosa—who I can only assume has the most poignant coffee break stories—Lee predicts that those sharp-eyed technical analysts over at Fundstrat are casting their spell to target around $5,000 for Ethereum in the coming months. Did you say a five-figure price? Well, aren’t we feeling ambitious today! 😂
And just when you thought things couldn’t get any wilder, both tokens practically soared past resistance levels like they were auditioning for a role in space camp. Who needs XRP’s charm when Stellar and HBAR are out here straight-up showing off? 📈✨
Enter Marc Fagel, a former SEC lawyer with a penchant for clarity and a knack for deflating rumors 🎈. In a recent post on X, Fagel addressed the long-standing speculation about who’s holding up the case, firmly stating, “No one is holding up the case” 🙅♂️.
In a candid interview with The Times, Bailey’s words cut like a sharp wind against the warm breeze of support for crypto initiatives from the Trump administration, which has been busy painting a rosy picture of a friendlier regulatory climate. 🌸
As our resilient XRP gallops forward, the whispers of a new ProShares XRP ETF by July 18 loom ever so tantalizingly in the air.
