🔔 MARKET MOVING NEWS! (15/02/25)
1️⃣ Solana Memecoin Launchpad Pump.Fun Launches Mobile App ‼️
#solana #SolanaUSTD Solana memecoin launchpad Pump.fun announced the launch of its mobile phone application on Friday. The app, which allows users to trade meme coins and create new tokens for free via their mobile devices, is supported on both iOS and Android devices. Pump.fun also stated that users can make watchlists and manage their digital portfolio in-app. However, the mobile app will reportedly not be available to residents in the UK. Notably, this restriction comes after the UK's Financial Conduct Authority warned citizens against using the app in December 2024.
2️⃣ China’s Gaorong Ventures Invests $30 Million in HashKey Group ▶️
According to a Bloomberg report, Hong Kong-based HashKey Group has secured a $30 million investment from China’s Gaorong Ventures at a pre-money valuation of nearly $1.5 billion. Gaorong Ventures is a private VC company that is comprised of a mix of investors, including Chinese tech giants Tencent, Alibaba and Xiaomi. It’s known for being an early backer of firms such as Xiaomi, Meituan and Pinduoduo. HashKey Group previously raised nearly $100 million in its Series A financing round, announced in January 2024, reaching unicorn status at a pre-money valuation above $1.2 billion.
3️⃣ Tether Invests In Juventus Football Club 💰
Stablecoin issuer Tether has reportedly acquired a minority stake in the Juventus Football Club - a storied Series A football club founded more than 125 years ago in Turin, Italy. Tether stated that the investment supports its goal of “integrating stablecoins, digital assets, and human-first technology into everyday life.”
Tether CEO Paolo Ardoino also stated,
Aligned with our strategic investment in Juve, Tether will be a pioneer in merging new technologies, such as digital assets, AI and biotech, with the well-established sports industry to drive change globally. We will explore avenues for innovative collaborations and the potential to revolutionize the global sports landscape.
4️⃣ Yuga Labs Sells Meebits Intellectual Property 🔍
Yuga Labs, the firm behind the popular Bored Ape Yacht Club NFT brand, has reportedly sold off the Meebits NFT collection and its related intellectual property (IP) to a firm focused on developing the Meebits brand. The IP’s new owner, Meebit Company or "MeebCo," reportedly plans to creatively expand the Meebits collection. It has already launched a rewards system named Bits in an attempt to bolster community engagement around the avatars. While the terms of the deal were not disclosed, Yuga Labs will reportedly have a stake in The Meebit Company.
Meebit Company CEO and Founder Sergio Silva tweeted,
We’re beyond excited to unleash their full potential and cement their rightful place in the canon of digital art, NFTs and network-connected objects. We’ll honour their legendary Larva Labs provenance, collaborate with visionary brands to bring their traits into the real world, and integrate cutting-edge tech to establish what Meebits truly are: the most ambitious digital characters ever created.
5️⃣ Abu Dhabi Sovereign Wealth Fund Stockpiles $436 Million in BlackRock Bitcoin ETF Shares 💸
Mubadala Investment Company, the sovereign wealth fund that manages investments for Abu Dhabi’s government, reportedly purchased $436.9 million of BlackRock's spot bitcoin ETF during the final quarter of last year. The investment was disclosed in a recently filed quarterly report with the Securities and Exchange Commission. Notably, the purchase appears to coincide with the time BlackRock secured a commercial license to operate in Abu Dhabi last November.
6️⃣ NYSE Proposes Rule Change To Allow ETH Staking On Grayscale’s Spot Ether ETFs ☄️
#ETFvsBTC #stockmarketupdate The New York Stock Exchange (NYSE) has reportedly submitted a filing before the US Securities and Exchange Commission on behalf of asset manager Grayscale. The filling proposes a rule change that would permit Grayscale to stake Ether within the Grayscale Ethereum Trust ETF (ETHE) and the Grayscale Ethereum Mini Trust ETF (ETH). If approved, these ETFs will be able to generate additional returns on their significant ETH holdings, which could potentially be passed on to investors. NYSE’s filing notes “the Trust” would also receive a portion of the staking rewards.