According to PANews, the trend of public companies establishing cryptocurrency treasuries is expanding beyond Bitcoin to include a wider range of digital tokens, with the scale of allocations continuing to grow. Recently, two publicly listed companies announced plans to acquire XRP for their treasury holdings, while another company is purchasing ETH as a reserve. Throughout the year, Bitcoin treasury companies have frequently made headlines, with Strategy (formerly Microstrategy) leading the charge. VivoPower and Nasdaq-listed Webus have declared intentions to initiate $100 million and $300 million XRP treasuries, respectively, while SharpLink is establishing a $425 million ETH treasury. Galaxy Research has identified 28 cryptocurrency treasury companies, including 20 focused on BTC, 4 on SOL, 2 on ETH, and 2 on XRP. Despite the momentum and market interest in funding these companies with substantial assets, skepticism persists, particularly regarding the source of funds for some purchases: debt. Several companies rely on borrowed funds, primarily zero-interest and low-interest convertible notes, to acquire treasury assets. These notes can be converted into company equity by investors if they are 'in-the-money' at maturity, meaning the company's stock price exceeds the conversion price. However, if the notes are 'out-of-the-money' at maturity, additional funds are needed to cover liabilities, raising concerns about treasury company strategies. Moreover, there is a risk that these companies may lack sufficient cash to pay interest on their debts. Treasury companies have four main options: selling cryptocurrency reserves to raise cash, issuing new debt to refinance old liabilities, issuing new shares to cover liabilities, or defaulting if reserves do not fully cover liabilities. In the worst-case scenario, the path each company takes will depend on specific circumstances and market conditions, such as the feasibility of refinancing. Unlike debt-driven strategies, equity sales for asset purchases pose fewer concerns, as they do not create liabilities or default obligations. A recent report on the crypto leverage landscape examined the scale and maturity schedules of debts issued by Bitcoin treasury companies. Findings suggest that the perceived imminent threat is overstated, as most debts mature between June 2027 and September 2028. While concerns about debt-driven strategies are not unfounded given the industry's history with leverage, current methods appear to carry no significant risk. However, as debts mature and more companies adopt this strategy, higher-risk approaches may emerge, potentially involving shorter-term debt issuance. Even in adverse scenarios, companies have traditional financial options to navigate challenges without resorting to asset sales.

1. The Speaker of the U.S. House of Representatives responded to Musk's statement that he had never seen a "big and beautiful" bill: We have discussed it many times; 2. The number of Bitcoin network transactions fell to a new low since October 2023; 3. Casa Lianchuang: It is not recommended to rely on artificial intelligence to explain the technical details of Bitcoin; 4. SlowMist Yuxian published an article questioning how public Wi-Fi can successfully carry out coin theft attacks and seek real case verification; 5.10x Research: Bitcoin is hitting key technical resistance levels, and the trend in the next two weeks may set the tone for the summer market; 6. The alternative amendment to the "CLARITY Act", a clear bill for the U.S. digital asset market, has been released; 7. U.S. House of Representatives proposed the HR 3798 bill to promote the establishment of a national strategic Bitcoin reserve.

Nasdaq seeks SEC approval to incorporate XRP, SOL, ADA, and XLM into its crypto ETF. source: https://coincu.com/342298-nasdaq-expands-crypto-etf

Golden Finance launches the 2719th issue of "Golden Morning 8", a morning report on the cryptocurrency and blockchain industry, to provide you with the latest and fastest news on the digital currency and blockchain industry.

According to Odaily, Nasdaq has submitted a proposal to the U.S. Securities and Exchange Commission (SEC) on June 7, aiming to include XRP, Solana (SOL), Cardano (ADA), and Stellar Lumens (XLM) in its crypto index benchmark. This change pertains to the Hashdex Nasdaq Crypto Index ETF (NCIQ), which plans to expand its tracking from the existing Nasdaq Crypto US Settlement Price Index (NCIUS) to the broader Nasdaq Crypto Index (NCI) that encompasses nine tokens. Currently, the NCI index includes cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH), but due to current SEC regulations, the ETF can only hold BTC and ETH, resulting in tracking error risks. If approved, the ETF will be able to invest in all index component assets, with a final decision expected by November 2, 2025. This move could mark a significant step towards diversification for U.S. crypto ETFs.

Odaily Planet Daily News Nasdaq submitted a rule change application to the U.S. Securities and Exchange Commission (SEC) on June 7, planning to include XRP, Solana (SOL), Cardano (ADA) and Stellar Lumens (XLM) in its crypto index benchmark. The adjustment involves the Hashdex Nasdaq Crypto Index ETF (NCIQ), which plans to expand its tracking target from the original Nasdaq Crypto US Settlement Price Index (NCIUS) to the Nasdaq Crypto Index (NCI) covering 9 tokens. Currently, the NCI index includes 9 cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH), but due to the current SEC regulations, the ETF can only hold BTC and ETH, resulting in tracking error risks. If approved, the ETF will be able to invest in all index component assets, and the final decision is expected to be made before November 2, 2025. This move may push the U.S. crypto ETF to take a key step towards diversification. (Cryptotimes)

Odaily Planet Daily News James Wynn announced on the X platform that he would convert his short position of Bitcoin into a long position, and start a 40x leverage "ant warehouse" long position, with an opening price of $106,247 and a request price of $104,920. The current floating loss is about $70, and the total loss in the past 24 hours is about $321.79.

Odaily Planet Daily News According to Onchain Lens monitoring, a whale transferred 4,949.63 ETH (about 12.54 million US dollars) to three major trading platforms, Binance, Gate and MEXC, and transferred 3,936.44 ETH (about 9.9 million US dollars) to another wallet after being silent for 4 years.

The funds were allegedly used to finance the regime’s illegal weapons development, according to a civil forfeiture complaint filed in […] The post DOJ Seizes $7. source: https://coindoo.com/doj-seizes-7-74m-in-crypto-tied-to-north-korean-sanctions-evasion-and-weapons-funding/

Odaily Planet Daily News According to DeFiLlama data, the total market value of stablecoins in the current crypto market is US$250.458 billion, a record high, an increase of US$2.754 billion from last week, a month-on-month increase of 1.11%, of which USDT's market value accounts for 62.05%.

Odaily Planet Daily News: Market data shows that the first stablecoin stock Circle (CRCL.K) rose 10% in the U.S. stock night trading.

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