The following is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
It's Monday! The week started off with more of the crypto market in the red, with ether's price falling to lows not seen since 2023. It's not all looking bleak, though — we might be closer to finding out more information on Bitcoin's creator, and a high-profile crypto figure is guiding blockchain industry efforts abroad.
In today's newsletter, $1.6 billion in leveraged bets evaporate as digital asset prices continue to fall, Michael Saylor's Strategy discloses around $6 billion in Q1 unrealized losses, a crypto attorney sues the Department of Homeland Security to find out more about Satoshi Nakamoto and more.
Meanwhile, the stablecoin issuer Tether is deciding whether to launch a new stablecoin just for institutions.
Let's get started.
The crypto market experienced a sharp 10% drop on Monday, with ether falling to its lowest price point since 2023.
Strategy reported $5.91 billion in unrealized losses on its bitcoin holdings in Q1 2025 due to a sharp market downturn driven by macroeconomic pressures.
Crypto lawyer James A. Murphy filed a lawsuit against the U.S. Department of Homeland Security to seek documents that could reveal the identity of Bitcoin’s creator after his FOIA requests went unanswered.
Former Binance CEO Changpeng 'CZ' Zhao has been appointed as a strategic advisor to the Pakistan Crypto Council to support crypto education, infrastructure and adoption efforts in the nation.
Cap, a blockchain startup building a yield-generating stablecoin and lending platform, raised $8 million in a seed round led by Franklin Templeton.
Never miss a beat with The Block's daily digest of the most influential events happening across the digital asset ecosystem.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
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