Katherine Ross

Texas

news editor @Blockworks_ & author @theempirepod newsletter. telegram: byKatherineRoss 📨 [email protected]. dm for signal & proton.

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Articles

Gemini files confidential S-1 with SEC in road to IPO

3 weeks ago | blockworks.co | Katherine Ross

Gemini announced that it filed a confidential draft S-1 with the Securities and Exchange Commission on Friday. The filing is one of the first steps for the crypto firm to go public through an initial public offering. The S-1, however, isn't public yet, but Gemini said that it expects its IPO to move forward following the review process from the SEC. The move comes just a day after Circle debuted on the New York Stock Exchange in an IPO that was pretty successful.
Did Circle execute its IPO 'perfectly'?

3 weeks ago | blockworks.co | Katherine Ross

I know we've been talking a lot about Circle, but let's be honest...whether you love or hate the firm, it's a huge success story this week. The stablecoin issuer finally debuted on the New York Stock Exchange yesterday, jumping as high as $103 before closing around $83. Quite a ride if you were watching it in real time, but if you weren't, it closed up over 160% after pricing at $31 Wednesday night.
Circle shares price at $31 ahead of NYSE debut

3 weeks ago | blockworks.co | Katherine Ross

Circle's taken one of its final steps to going public. On Wednesday, the stablecoin issuer announced the pricing of its initial public offering. Shares of the upsized IPO are expected to price at $31. The issuer is going public on the New York Stock Exchange on Thursday. The firm now expects to offer 34 million shares. Bloomberg first reported the news. The announcement comes just days after Circle filed yet another amendment to its S-1, upsizing the offering and the price.
Caution is the 'modus operandi' for markets: K33

3 weeks ago | blockworks.co | Katherine Ross

I'm quite intrigued by the cautious atmosphere that's been adopted since bitcoin broke through all-time highs last month. K33 noted that CME exposure has "risen modestly," but it's nowhere near its previous peaks. As you can see in the chart above, open interest for CME bitcoin futures is in a slight downtrend.
Pump.fun plans $1B token sale at $4B FDV: Sources

3 weeks ago | blockworks.co | Katherine Ross

Pump.fun plans to raise $1 billion via a token sale, two sources with knowledge of the matter told Blockworks. Three sources said the sale would come at a $4 billion token valuation. The token will be sold to both public and private investors, sources added. Blockworks could not immediately confirm when the token is set to go live or whether it will be issued on the pump.fun platform. However, a post on X teased that it could come in the next two weeks.
CEO shakeup at Morph, Bitget's layer-2 project

3 weeks ago | blockworks.co | Katherine Ross

Morph, the L2 incubated by Bitget, aimed to be a contender in the modular blockchain space. However, it hit a series of road bumps, as Blockworks previously reported, and is now facing another shakeup: the departure of a CEO. CEO Cecilia Hsueh told Blockworks she's moving into an advisor role at the layer-2 incubated by Bitget.
Blockworks Research

3 weeks ago | blockworks.co | Katherine Ross

Not only is summer just around the corner, but a new month means new data around venture capital spending. Fundraising totaled $594 million last month, per Blockworks Research data. As you can see, funding made up a very small slice of the overall pie, with M&A leading the month when it comes to money spent. A little over $2.9 billion went towards deals last month, of which most of that sum came from the $2.9 billion Coinbase-Deribit deal.
Why an acquisition of Circle may be off the table as its IPO approaches

1 month ago | blockworks.co | Katherine Ross

The stablecoin company Circle is a highly anticipated IPO, and we know now that BlackRock's very interested, per a Bloomberg report, and we have an idea behind potential pricing. This one is an interesting hybrid of crypto and TradFi. On Tuesday, I wrote that the stablecoin issuer is really close to the finish line, but I hadn't realized just how close until I caught up with Jay Woods, Chief Global Strategist at Freedom Capital Markets.
Cove launches mainnet, CoveUSD

1 month ago | blockworks.co | Katherine Ross

Have you heard about Cove? Given that the protocol didn't have a testnet, you might not have, or you might have seen its $3 million pre-seed raise led by Electric Capital, with participation from Accomplice, Daedalus, and Robot Ventures. Cove is launching its mainnet today, the team exclusively told Blockworks. They're also launching coveUSD, which lets folks earn yield on Ethereum. But let's back up: The Cove protocol aims to deliver "risk-adjusted yield" through curated DeFi vaults.
Cantor's Bitcoin financing business announces first transactions

1 month ago | blockworks.co | Katherine Ross

Cantor's Bitcoin financing business is fully operational, the company announced on Tuesday. One of the transactions was with Maple, which said that it closed its first tranche of Bitcoin-backed financing. "This financing facility through Cantor enables Maple to accelerate its growth and expand its reach as a provider of digital asset credit," said Sidney Powell, CEO of Maple Finance. Maple said that the transaction was a "major milestone" for the institutional adoption of crypto.