DeFI News by Thebittimes.Com

Elon Musk’s personal lawyer Alex Spiro will chair a new public company that plans to raise at least $200 million to create a Dogecoin (DOGE) treasury firm. That’s according to a Fortune report that cited sources familiar with the matter who said the exact launch date and corporate structure of the digital asset treasury company is still unknown. It added that the entity is still in the pitching stage.  But the initiative also has the endorsement of House of Doge, a corporate entity that was launched in early 2025 by the Dogecoin Foundation, the report said.  Despite the news, the DOGE price slid over 1% in the past 24 hours to trade at $0.2174 as of 1:50 a.m. EST in line with a broad pullback that saw the crypto sector’s market cap drop over 2% to around $3.77 trillion. DOGE price chart (Source: CoinMarketCap )  The meme coin has plunged more than 8% in the past week.  Number Of Dogecoin Treasuries Is Slowly Growing Up until now, crypto...

Genius Group has announced a $33 million rights offering. The company will use net proceeds from the sale to buy Bitcoin. Genius Group holds $35 million in BTC and could see holdings rise to $86 million with plans for additional $20 million loan. Publicly-listed artificial intelligence firm Genius Group plans to raise $33 million to buy additional Bitcoin (BTC) as part of its BTC treasury. Genius Group announced on Jan. 14 that the company’s board of directors had approved a rights offering plan for $33 million. The company will use net proceeds from the shares sale to purchase more Bitcoin. As well as the rights offering, Genius Group is eyeing further financing, with one or more loan options aggregating to $20 million on the table. The company’s current BTC treasury stands around $35 million, which means successful raises from the offering and via the loans option could see Genius Group’s total Bitcoin haul rise to $86 million. Bitcoin s...

Cardano (ADA) is set to hand over control of its $681.9 million treasury to its community, marking a significant step towards full decentralization.  This change is part of the upcoming “Chang” hard fork upgrade, which aims to renew interest in the ADA ecosystem and pave the way for future growth. Cardano’s treasury, valued at $681.9 million, holds its native ADA tokens. Unlike other blockchain protocols that include stablecoins or assets like Bitcoin (BTC) and Ethereum (ETH), Cardano’s treasury is made up solely of ADA. Picks for you 'Leading Bitcoin L2' Stacks experiences network issues for the 4th time this year 1 hour ago Crypto insider turns $2,000 to $1.74 million with Andrew Tate-related meme coin ...

The US Treasury Department recently revealed a proposal outlining new tax rules for the cryptocurrency industry. Among the updates is the introduction of a 1099 form for crypto transactions. The new guidelines also clarify tax obligations for digital asset miners.  The proposed bill appears to exempt miners while potentially impacting cryptocurrency exchanges, causing backlash from the industry, especially decentralized finance (defi) professionals. A tailored tax form The proposed regulations come as a response to the 2021 Infrastructure Investment and Jobs Act, aiming to clarify tax reporting requirements for the rapidly evolving crypto sector. The document, released on Aug. 25, outlines the responsibilities that centralized crypto exchanges, payment processors, hosted wallet providers, and some decentralized exchanges will have regarding reporting obligations. The proposal mentions introducing a tailored tax form, known as the 1099-DA, specifically designed for crypto tra...

The DEX's operating expenses currently amount to $5 million per year. According to a new proposal dated Dec. 6, Jared Grey, CEO of decentralized exchange Sushiswap (SUSHI), disclosed that the project's Treasury has less than 1.5 years of runaway left, and the "significant deficit in the treasury threatens Sushi's operational viability, requiring an immediate remedy." Grey explained that Sushiswap's annualized operating expenses amounted to roughly $9 million in October, however, that has since been reduced to around $5 million. "We made the reduction possible by renegotiating infrastructure contracts, scaling back underperforming or superfluous dependencies, and instituting a budget freeze on non-critical personnel and infrastructure." To remedy the situation, Grey proposed setting Sushiswap's "Kanpai," or the amount of fees diverted to its Treasury, to 100% for "one year or until new tokenomics are implemented." This woul...