Crypto Daily | Eightco Rockets 3,000% on Worldcoin Treasury Pivot, Ives Role; Ark Invest Boosts Bitmine Immersion Stake With $4.46M Purchase

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Eightco Rockets 3,000% on Worldcoin Treasury Pivot, Ives Role

For much of the past three years, Eightco Holdings Inc. was little more than a penny stock. On Monday, all that changed, as the e-commerce company soared over 3,000% after announcing a plan to buy digital tokens backed by OpenAI’s Sam Altman and naming Wall Street analyst Dan Ives as chairman.

The shares, which at one point catapulted as much as 5,632% during the trading day, ended at $45.08, up from $1.45 on Friday.

US Bank Regulator Moves to Further Eliminate So-Called Debanking

The Office of the Comptroller of the Currency said it would move to eliminate what’s known as debanking following calls from some industry groups and Republicans to end a practice critics have viewed as unfair.

“The OCC is taking steps to end the weaponization of the financial system,” OCC head Jonathan Gould said Monday, adding he wants to root out bank activities that unlawfully discriminate against customers on the basis of political or religious beliefs.

Ark Invest Boosts Bitmine Immersion Stake With $4.46M Purchase

Cathie Wood’s Ark Invest expanded its position in Bitmine Immersion (BMNR), acquiring 101,950 shares worth $4.46 million across three of its funds. ARKK led the move with 67,700 shares, followed by ARKW with 21,890 shares and ARKF with 12,360 shares, highlighting Ark’s continued bet on crypto-focused infrastructure firms.

Ant Digital Arm Puts $8 Billion Energy Assets on Its Blockchain

A unit of Ant Group Co. is quietly making inroads to link over 60 billion yuan ($8.4 billion) worth of energy infrastructure and other real-world power assets to its blockchain, according to people familiar with the matter.

Ant Digital Technologies, the enterprise solutions arm of the Jack Ma-backed fintech giant, has been tracking the power output and potential outages of some 15 million new energy devices including wind turbines and solar panels in China, and uploading the data to its blockchain, which is known as AntChain.

Crypto Asset Manager CoinShares to Go Public in US Via SPAC Deal

Cryptocurrency asset manager CoinShares International Ltd. has agreed to go public in the US through a combination with blank-check company Vine Hill Capital Investment Corp.

The deal values CoinShares at $1.2 billion pre-money on a pro-forma basis, according to a company statement. CoinShares is best known for its crypto exchange-traded products and has about $10 billion in assets under management. Shares of the company are currently publicly traded on Nasdaq Stockholm and following the completion of the merger, CoinShares will file to delist from the Swedish stock exchange.

Bitcoin Spot ETF Flow

The overall net inflow of the US Bitcoin spot ETF on Monday was $368.25 million. The total net asset value of Bitcoin spot ETFs is $145.41 billion, and the ETF net asset ratio (market value compared to total Bitcoin market value) is 6.52%.

The Bitcoin spot ETF with the highest net inflow on Sep 8 was Fidelity Wise Origin Bitcoin Fund , with a net inflow of $156.50 million.