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TeraWulf Announces Issuance of $850 Million Convertible Bonds and Sets Offering Price
According to Jinse Finance, Nasdaq-listed Bitcoin mining company TeraWulf announced today that it has finalized the upsized amount and offering price for its proposed 1.00% convertible senior notes due 2031 (hereinafter referred to as the "convertible notes"), with a total principal amount of $850 million. The convertible notes will be issued through a private placement to qualified institutional buyers as defined under Rule 144A of the amended Securities Act of 1933. The $850 million convertible senior notes carry a 1.00% coupon and a 32.50% conversion premium. TeraWulf has also entered into capped call transactions for the 1.00% convertible notes due 2031, with an initial cap price of $18.76 per share of common stock, representing a 100% premium over TeraWulf’s closing price on August 18, 2025. TeraWulf has granted the initial purchasers of the convertible notes a 13-day option to purchase up to an additional $150 million in principal amount of the notes. The offering is expected to close on August 20, 2025, subject to customary closing conditions.
According to Jinse Finance, Nasdaq-listed Bitcoin mining company TeraWulf announced today that it has finalized the upsized amount and offering price for its proposed 1.00% convertible senior notes due 2031 (hereinafter referred to as the "convertible notes"), with a total principal amount of $850 million. The convertible notes will be issued through a private placement to qualified institutional buyers as defined under Rule 144A of the amended Securities Act of 1933. The $850 million convertible senior notes carry a 1.00% coupon and a 32.50% conversion premium. TeraWulf has also entered into capped call transactions for the 1.00% convertible notes due 2031, with an initial cap price of $18.76 per share of common stock, representing a 100% premium over TeraWulf’s closing price on August 18, 2025. TeraWulf has granted the initial purchasers of the convertible notes a 13-day option to purchase up to an additional $150 million in principal amount of the notes. The offering is expected to close on August 20, 2025, subject to customary closing conditions.
Data: Whale Sells 3,075 ETH for $13.25 Million, Still Holds 15,700
According to ChainCatcher, OnchainLens monitoring shows that a certain whale sold 3,075 ETH at an average price of $4,310, cashing out $13.25 million in DAI. The whale still holds 15,708 ETH, worth approximately $67.82 million, and may continue to sell in the future.
According to ChainCatcher, OnchainLens monitoring shows that a certain whale sold 3,075 ETH at an average price of $4,310, cashing out $13.25 million in DAI. The whale still holds 15,708 ETH, worth approximately $67.82 million, and may continue to sell in the future.
JPYC’s Yen Stablecoin to Be Deployed on Ethereum, Avalanche, and Polygon
According to ChainCatcher, Japanese yen stablecoin issuer JPYC has announced plans to deploy its yen stablecoin on Ethereum, Avalanche, and Polygon.
On November 10, 2021, JPYC, the Japanese yen stablecoin issuer, completed a 500 million yen (approximately 4.43 million USD) Series A funding round, led by Headline Asia with participation from Circle Ventures.
According to ChainCatcher, Japanese yen stablecoin issuer JPYC has announced plans to deploy its yen stablecoin on Ethereum, Avalanche, and Polygon.
On November 10, 2021, JPYC, the Japanese yen stablecoin issuer, completed a 500 million yen (approximately 4.43 million USD) Series A funding round, led by Headline Asia with participation from Circle Ventures.
ETF Store President: The SEC Should Not Continue Delaying Approval of Staking Features for Spot Ethereum ETFs
According to a report by Jinse Finance, Nate Geraci, President of The ETF Store, stated that the US SEC should not continue to delay the approval of staking features for spot Ethereum ETFs. He believes that even though the IRS has not yet issued specific tax guidelines for staking rewards, this does not constitute a valid reason for the SEC to obstruct approval, as the two are separate regulatory bodies. He pointed out that this feature should have been approved when spot Ethereum ETFs were first launched.
According to a report by Jinse Finance, Nate Geraci, President of The ETF Store, stated that the US SEC should not continue to delay the approval of staking features for spot Ethereum ETFs. He believes that even though the IRS has not yet issued specific tax guidelines for staking rewards, this does not constitute a valid reason for the SEC to obstruct approval, as the two are separate regulatory bodies. He pointed out that this feature should have been approved when spot Ethereum ETFs were first launched.
Figure Technology files draft registration statement for proposed initial public offering
According to Jinse Finance, fintech company Figure Technology announced today that it has filed a Form S-1 registration statement with the U.S. Securities and Exchange Commission (SEC), proposing an initial public offering (IPO) of its Class A common stock. The number of shares to be offered and the price range have not yet been determined. The proposed offering is subject to market and other conditions, and there is no guarantee as to whether or when the offering will be completed, nor as to the actual size or terms of the offering. Figure has applied to list its Class A common stock on the Nasdaq Global Market under the ticker symbol "FIGR." Goldman Sachs & Co. LLC, Jefferies, and BofA Securities are acting as lead book-running managers.
According to Jinse Finance, fintech company Figure Technology announced today that it has filed a Form S-1 registration statement with the U.S. Securities and Exchange Commission (SEC), proposing an initial public offering (IPO) of its Class A common stock. The number of shares to be offered and the price range have not yet been determined. The proposed offering is subject to market and other conditions, and there is no guarantee as to whether or when the offering will be completed, nor as to the actual size or terms of the offering. Figure has applied to list its Class A common stock on the Nasdaq Global Market under the ticker symbol "FIGR." Goldman Sachs & Co. LLC, Jefferies, and BofA Securities are acting as lead book-running managers.
The Federal Reserve Will Remain Cautious in Its Rate Cut Decisions and Is Unlikely to Implement Significant Cuts
According to ChainCatcher, citing Jintou reports, a research note from CICC points out that the market has recently priced in a significant increase in expectations for a Federal Reserve rate cut. However, there are divisions within the Fed, with some members supporting a rate cut while others advocate a wait-and-see approach. Despite pressure from Trump and Treasury Secretary Bessent, among others, to lower rates, CICC believes that current conditions do not support a substantial rate cut. The biggest risk facing the U.S. at present is "quasi-stagflation," which cannot be resolved by rate cuts. Monetary policy should focus on stabilizing inflation, and the Fed is expected to remain cautious in its rate cut decisions.
According to ChainCatcher, citing Jintou reports, a research note from CICC points out that the market has recently priced in a significant increase in expectations for a Federal Reserve rate cut. However, there are divisions within the Fed, with some members supporting a rate cut while others advocate a wait-and-see approach. Despite pressure from Trump and Treasury Secretary Bessent, among others, to lower rates, CICC believes that current conditions do not support a substantial rate cut. The biggest risk facing the U.S. at present is "quasi-stagflation," which cannot be resolved by rate cuts. Monetary policy should focus on stabilizing inflation, and the Fed is expected to remain cautious in its rate cut decisions.
Federal Reserve Ends Oversight Program for Cryptocurrency and Distributed Ledger Technology
According to a report by Jinse Finance, on Friday, the U.S. Federal Reserve (commonly known as the "Fed") shut down its "Novel Activities Supervision Program," which was established in 2023. When the program was launched, regulators stated that its purpose was "to ensure that risks associated with innovation are properly addressed." The program primarily applied to distributed ledger technology (DLT), crypto assets, banks supporting the cryptocurrency sector, and technology-driven partnerships between banks and non-bank institutions. The Fed indicated that it now has a more comprehensive understanding of the related risks, so these business activities can be incorporated into routine supervisory processes. In April of this year, the Fed also rescinded several supervisory letters related to cryptocurrencies and distributed ledger technology, including one that required a "non-objection letter" before such business activities could commence. The program's restrictive regulatory approach had a tangible impact on blockchain banking initiatives. A Freedom of Information Act request submitted to the Federal Deposit Insurance Corporation (FDIC) revealed that the program hindered the launch of the "USDF Consortium"—an alliance aimed at facilitating interbank payments among community banks—which ultimately abandoned its plans due to these obstacles. The USDF Consortium is not the only entity with such ambitions (to promote blockchain-based interbank payments).
According to a report by Jinse Finance, on Friday, the U.S. Federal Reserve (commonly known as the "Fed") shut down its "Novel Activities Supervision Program," which was established in 2023. When the program was launched, regulators stated that its purpose was "to ensure that risks associated with innovation are properly addressed." The program primarily applied to distributed ledger technology (DLT), crypto assets, banks supporting the cryptocurrency sector, and technology-driven partnerships between banks and non-bank institutions. The Fed indicated that it now has a more comprehensive understanding of the related risks, so these business activities can be incorporated into routine supervisory processes. In April of this year, the Fed also rescinded several supervisory letters related to cryptocurrencies and distributed ledger technology, including one that required a "non-objection letter" before such business activities could commence. The program's restrictive regulatory approach had a tangible impact on blockchain banking initiatives. A Freedom of Information Act request submitted to the Federal Deposit Insurance Corporation (FDIC) revealed that the program hindered the launch of the "USDF Consortium"—an alliance aimed at facilitating interbank payments among community banks—which ultimately abandoned its plans due to these obstacles. The USDF Consortium is not the only entity with such ambitions (to promote blockchain-based interbank payments).
US Treasury Secretary: Stablecoins Will Expand Global Channels for Dollar Usage and Drive Surging Demand for US Treasuries
According to ChainCatcher, U.S. Treasury Secretary Besant stated, "Implementing the GENIUS Act is crucial to ensuring America's leadership in the digital asset sector. Stablecoins will expand the global channels for dollar usage by tens of billions and lead to a surge in demand for U.S. Treasury bonds."
Since the GENIUS Act was passed in July, the supply of yield-bearing stablecoins has surged. Data shows that the biggest beneficiaries are Ethena's USDe and Sky's USDS, both of which offer yields when staked within their respective protocols. According to DefiLlama, since July 18, the circulating supply of USDe has grown by 70%, surpassing $10 billion and making it the third-largest stablecoin by market capitalization. During the same period, the circulating supply of USDS increased by 23% to nearly $4.81 billion, ranking fourth in market capitalization.
According to ChainCatcher, U.S. Treasury Secretary Besant stated, "Implementing the GENIUS Act is crucial to ensuring America's leadership in the digital asset sector. Stablecoins will expand the global channels for dollar usage by tens of billions and lead to a surge in demand for U.S. Treasury bonds."
Since the GENIUS Act was passed in July, the supply of yield-bearing stablecoins has surged. Data shows that the biggest beneficiaries are Ethena's USDe and Sky's USDS, both of which offer yields when staked within their respective protocols. According to DefiLlama, since July 18, the circulating supply of USDe has grown by 70%, surpassing $10 billion and making it the third-largest stablecoin by market capitalization. During the same period, the circulating supply of USDS increased by 23% to nearly $4.81 billion, ranking fourth in market capitalization.
SoftBank Group and Intel (INTC.O) Sign $2 Billion Investment Agreement
According to Jinse Finance, SoftBank Group has signed a $2 billion investment agreement with Intel (INTC.O), under which SoftBank will purchase Intel common stock at a price of $23 per share. (Jin10)
According to Jinse Finance, SoftBank Group has signed a $2 billion investment agreement with Intel (INTC.O), under which SoftBank will purchase Intel common stock at a price of $23 per share. (Jin10)
Chamath's Newly Established SPAC to Invest in Four Sectors Including DeFi
According to Jinse Finance, Chamath Palihapitiya, CEO of Social Capital, has established a new SPAC named "American Exceptionalism" with a valuation of $250 million, issuing 25 million shares at $10 per share. This SPAC will invest in four sectors, including DeFi.
According to Jinse Finance, Chamath Palihapitiya, CEO of Social Capital, has established a new SPAC named "American Exceptionalism" with a valuation of $250 million, issuing 25 million shares at $10 per share. This SPAC will invest in four sectors, including DeFi.