Tag: Acquisition

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Riot Proposes Acquisition of Bitfarms to ‘Create the World’s Largest Publicly Listed Bitcoin Miner’

May 29, 2024

Riot Platforms has announced a proposal to acquire Bitfarms to create “the world’s largest publicly listed bitcoin miner.” This offer includes cash and Riot stock, representing a 24% premium. Despite the initial rejection from Bitfarms’ Board, the proposal will be directly presented to shareholders. Riot asserts that the acquisition will establish a vertically integrated, geographically…
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Ripple Aims to Expand Regulatory Reach With Standard Custody Acquisition

February 14, 2024

In a strategic move to bolster its regulatory credentials, Ripple has announced its plan to acquire Standard Custody & Trust Company. This acquisition, pending regulatory approval, is set to enhance Ripple’s portfolio of digital asset solutions and regulatory licenses, marking a significant step in the company’s expansion. Ripple Plans to Acquire Standard Custody & Trust…
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CoinShares gets buying rights to Valkyrie’s crypto ETF unit

November 17, 2023

The deal comes as Bitcoin ETF applications in the U.S. are seemingly inching closer toward regulatory approval. European digital asset manager CoinShares secured the exclusive option to acquire Valkyrie Funds, the exchange-traded fund (ETF) unit of its United States competitor, Valkyrie Investments, which includes the Valkyrie Bitcoin Fund awaiting U.S. approval. CoinShares said on Nov.…
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Stablecoin issuer Circle weighing up 2024 public launch: Report

November 8, 2023

Circle initially agreed to go public as part of a $4.5 billion merger in July 2021 but that deal fizzled out. USD Coin (USDC) issuer Circle is contemplating an initial public offering (IPO) in early 2024, according to Bloomberg. A Nov. 7 Bloomberg report citing people with knowledge of the matter said the stablecoin issuer…
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SEC Sues Musk to Make Him Testify in Twitter Takeover Investigation

October 6, 2023

U.S. Securities and Exchange Commission (SEC) is trying to force Elon Musk to testify in its probe into his purchase of Twitter, now X. After some back and forth, the billionaire investor bought the social media platform for $44 billion in October 2022 and the SEC’s probe is focused on Twitter shares he had acquired…
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Ripple Backs Out of Fortress Trust Acquisiton, Citing Change in Strategy

September 28, 2023

In a surprising turn of events, Ripple CEO Brad Garlinghouse announced today that the financial technology firm will not proceed with its previously planned acquisition of Fortress Trust, a Nevada-licensed financial services provider.  The decision comes just 20 days after the initial announcement of the acquisition. Ripple’s sudden change of heart marks a notable shift…
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‘I’m Bullish on Bitcoin’ — Ted Cruz Champions Bitcoin’s Boon for Texas and Power Grid Boosts

September 9, 2023

Ted Cruz, the U.S. Republican senator from Texas, expressed his optimism on Friday, stating he’s “bullish on bitcoin,” after a recent interview with Forbes released on September 8. During the conversation, Cruz highlighted emerging reports indicating that bitcoin mining is positively impacting Texas’ power grid, commonly referred to as the Electric Reliability Council of Texas…
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Ripple Acquires Crypto Financial Services Company Fortress Trust 

September 8, 2023

Ripple, a leading blockchain and cryptocurrency company, has acquired Fortress Trust, a Nevada-licensed financial services provider for the crypto industry. The purchase expands Ripple’s regulatory licenses and infrastructure to bolster its position in enterprise blockchain solutions. Ripple Acquires Fortress Trust The acquisition provides Ripple with Fortress Trust’s financial, regulatory, and technological infrastructure to serve the…
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Musk Funded Dogecoin, Mulled Blockchain Social Media, Biography Details

September 3, 2023

A biography of billionaire investor Elon Musk reveals details about his involvement in the Dogecoin project and an idea to launch a social media platform based on blockchain. The book, which should be available later this month, also mentions a failed attempt by former crypto mogul Sam Bankman-Fried to help Musk’s acquisition of Twitter. Elon…
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Bitgo Secures $100 Million in Series C, Firm’s Valuation Climbs to $1.75 Billion

August 16, 2023

The digital asset trust firm Bitgo, headquartered in Palo Alto, California, has secured $100 million in a Series C funding round. While the company remains tight-lipped about the participants in this financial endeavor, this fresh infusion of capital catapults the firm’s post-valuation to $1.75 billion. Bitgo Raises $100 Million From Undisclosed Investors Bitgo has successfully…
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