Crypto News. July 16, 2025

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DeFi

$23M crypto mining firm, Bit Origin aims to be one of the first public companies with a Dogecoin treasury, backing the move with up to $500M in funding; $400M in stock and $100M in convertible debt from accredited investors.

Canary Capital filed with the SEC to launch staked Injective (INJ) ETF in the U.S. The fund would track INJ’s price while earning staking rewards, similar to recent ETH and Solana staking ETFs. This comes after Canary set up a Delaware trust, a common pre-ETF filing move.

GameSquare raised $70M in a public offering, totaling $90M raised so far, to build an Ethereum treasury. It sold 46.7M shares at $1.50 each, with Lucid Capital Markets running the deal. Partnering with Dialectic, it’s targeting yields of 8–14%.

Cysic is joining the Succinct Prover Network as a multi-node prover (a setup where multiple nodes work together to generate zkps in parallel) to boost real time ZK proving. It’s rolling out a GPU cluster to handle heavy, production level zk workloads, aiming to meet rising demand for zk tech across industries.

Base launched Flashblocks, slashing block times from 2 secs to 200ms. Built with Flashbots, it streams sub-blocks every 0.2s, enabling near instant transaction confirmations. The upgrade was tested on Sepolia in February and is now live on mainnet.

Ethereum pumped over 8% to around $3,405 (atm), hitting its highest level since January. The rally’s driven by surging institutional demand from spot ETH ETFs pulled in a record $726.7M inflow in a single day, led by $499M into BlackRock’s ETHA. July inflows now total $2.27B, the biggest monthly amount since ETH ETFs launched.

Adding fuel, BlackRock recently filed to enable staking in its ETH ETF. This is a major bullish signal that could bring yield exposure to traditional investors and tighten ETH’s liquid supply even more.

Spiko raised $22M in a Series A led by Index Ventures to scale its tokenized money market fund platform. The AMF regulated fintech wants to help European businesses earn daily yield on idle cash, like US firms do, by offering Europe’s first tokenized money market funds with no lock ups. About $25T in EU deposits are sitting untapped, and Spiko aims to fix that.

French lawmakers have proposed a five-year pilot to let energy producers use surplus electricity for Bitcoin mining. The goal: stabilize the grid, cut nuclear plant strain, and monetize excess power that’s often sold at a loss.

Privacy Pools, zk mixnet backed by Vitalik and built by 0xbow, is adding support for Sky’s onchain stablecoin $USDS, as it rolls out multi-asset privacy. The protocol uses association sets to keep only clean funds in the pool, giving users transactional privacy without losing compliance.

Cap launched Cap Stablecoin Network (CSN), with PayPal USD (PYUSD) as its first partner. The network powers cUSD, a stablecoin backed 1:1 by blue chip, regulated dollar assets. Users can swap between reserve assets, earn yield on idle funds, and rely on onchain guarantees. PYUSD acts as the base strategy, sourcing US Treasuries, even unused balances generate yield.

KaitoAI is launching a community owned launchpad, with Espresso Systems as its first project. Espresso is building a unified L2 by offering a decentralized shared sequencer, a major shift from today’s siloed, centralized L2s. This setup lets L2s share transaction data natively, potentially killing the need for cross chain bridges.

KAITO holders may get launchpad access (details TBD). Next up might be TheoriqAI, with sKaito, KAITO, and NFTs expected to benefit if this gains traction.