News & Research

The Boba Governance Foundation, which oversees the layer-2 blockchain solution Boba Network, has secured a $70 million investment from Awaken Foundation and LDA Capital to support its development and expansion, according to Decrypt. The funds will be used to improve core infrastructure, grow the developer ecosystem and advance AI-powered decentralized applications. The foundation also reached an agreement with the FTX Recovery Trust regarding BOBA tokens.

Public companies increased their Bitcoin (BTC) holdings by 18% in Q2, acquiring about 131,000 BTC, surpassing ETFs for the third consecutive quarter, according to CNBC. This trend reflects a push to follow the Strategy playbook in a more crypto-friendly regulatory environment under the Trump administration. While ETFs remain the largest collective holders of Bitcoin, companies are using BTC treasuries to boost shareholder value. Analysts expect this strategy to fade over time as Bitcoin adoption becomes more mainstream.

Bitcoin layer-2 (L2) project Botanix has launched its mainnet, reducing block creation time from 10 minutes to 5 seconds, according to CoinDesk. The network is EVM-compatible, enabling Ethereum-based apps on Bitcoin. With decentralized governance, the project is run by a foundation of 16 node operators, including Galaxy Digital and Fireblocks. Botanix also introduced BTC-backed stablecoin Palladium and decentralized exchange Bitzy.

UniCredit, Italy’s second-largest bank, announced it will offer a Bitcoin ETF-linked product from BlackRock to select clients, marking a new step in expanding crypto investment options for its clientele, according to @cryptounfolded.

U.S. Federal Reserve Chair Jerome Powell said the U.S. economy is in solid shape and inflation is moving as expected when excluding tariff effects, according to @PiQSuite on X. He noted that the Fed paused rate changes in response to the scale of new tariffs and emphasized that waiting remains the prudent approach as long as the economy stays strong. Higher inflation readings are anticipated over the summer.

E-commerce company DDC Enterprise (NYSE: DDC) has completed an initial closing of a $528 million capital raise, marking one of the largest Bitcoin-focused raises by a NYSE-listed company, according to Business Wire press release. The funding, backed by investors including Anson Funds, will support DDC's corporate Bitcoin accumulation strategy. DDC Enterprises announced on June 17 that it would raise the amount through stock purchase agreements with investors such as Animoca Brands and QCP Capital, as well as convertible bond issuance.

U.S. stock markets have opened lower today. S&P500: -0.29% NASDAQ: -0.37% Dow: -0.08%

Limitless, the largest prediction market on Base, raised $4 million in a strategic round, bringing total funding to $7 million, according to Cointelegraph. Arthur Hayes joined as an advisor via his family office, Maelstrom. The platform has seen strong demand for short-term crypto price markets and is preparing for a token generation event with a new points program and mobile-first trading experience.

Bitwise Chief Investment Officer (CIO) Matt Hougan reaffirmed the firm’s $200,000 Bitcoin price target for 2025, citing strong institutional demand, while expressing less confidence in Ethereum (ETH) and Solana (SOL) reaching new highs, according to The Block. Despite the volatility in crypto prices this year, Bitwise remains optimistic about the second half of 2025, driven by crypto legislation, growing institutional demand and stablecoin adoption.

Citigroup began coverage of Circle (CRCL) with a buy rating and a $243 price target, citing its strong potential in stablecoin adoption, according to CoinDesk. Despite recent stock gains, Citi said the valuation remains reasonable. Analysts highlighted Circle's market position, legislative tailwinds and operating leverage as key advantages. JPMorgan, by contrast, rated the stock underweight due to valuation concerns.