Crypto Daily | WhiteFiber Raises $159.4 Million in Upsized US IPO; Binance Latest Proof of Reserves Shows BTC, USDT Holdings Up

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WhiteFiber Raises $159.4 Million in Upsized US IPO

WhiteFiber Inc., an artificial intelligence infrastructure firm, raised $159.4 million in an initial public offering, pricing its shares at the top of a marketed range.

The subsidiary of crypto treasury firm Bit Digital Inc. sold 9.4 million shares Wednesday for $17 each after marketing them for $15 to $17, according to a statement confirming an earlier Bloomberg News report.

The pricing gives WhiteFiber a market value of $619 million based on the outstanding shares listed in its filings with the US Securities and Exchange Commission.

Binance Latest Proof of Reserves Shows BTC, USDT Holdings Up, ETH Down Nearly 10%

Binance has published its 33rd Proof of Reserves report (snapshot as of August 1), revealing a 2.99% increase in user BTC holdings to 591,000 BTC and a 0.87% rise in USDT holdings to 29.85 billion. However, user ETH holdings dropped sharply by 9.84%, falling to 4.555 million ETH. The data reflects shifting user behavior amid ongoing market uncertainty.

Source: Binance

Digital Asset-Firm Parataxis to Go Public Via SilverBox Deal

Parataxis Holdings, a digital-asset management platform, has agreed to go public with blank-check firm SilverBox Corp IV, joining a wave of publicly traded Bitcoin treasury companies.

The deal values the combined companies at about $400 million, according to a statement confirming an earlier Bloomberg News report. The deal will add up to about $240 million in cash to Parataxis, including $31 million of equity that will be funded immediately to acquire Bitcoin. After closing, Parataxis will have the right to issue and sell up to another $400 million in equity.

USDC Leads 3x Rise in Crypto-Based Salary Payments Over Past Year: Survey

The share of workers paid in cryptocurrency has more than tripled over the past year, with USDC emerging as the most popular digital asset for payroll, according to Pantera Capital’s 2024 Blockchain Compensation Survey.

In 2023, only 3% of respondents reported receiving any part of their salary in crypto. That figure jumped to 9.6% in 2024, as blockchain-native firms and DAOs increasingly turned to stablecoins and tokens to compensate employees and contributors.

Bitcoin Spot ETF Flow

The overall net inflow of the US Bitcoin spot ETF on Wednesday was $91.55 million. The total net asset value of Bitcoin spot ETFs is $148.50 billion, and the ETF net asset ratio (market value compared to total Bitcoin market value) is 6.46%.

Source: SoSoValue

The Bitcoin spot ETF with the highest net inflow on Aug 6 was iShares Bitcoin Trust ETF, with a net inflow of $99.11 million. Followed by Bitwise Bitcoin ETF, with a net inflow of 26.35 million, according to SoSoValue.

Source: SoSoValue