Market maker deals are quietly killing crypto projects
The right market maker can be a launchpad for a cryptocurrency project, opening the door to major exchanges and providing valuable liquidity to ensure a token is tradeable — but when the wrong incentives are baked into the deal, that market maker can become a wrecking ball.One of the most popular and misunderstood offerings in the market-making world is the “loan option model.” This is when a project lends tokens to a market maker, who then uses them to create liquidity, improve price stability, and help secure listings at a cryptocurrency exchange. In reality, it has been a death sentence for many young projects.But behind the scenes, a number of market makers is using the controversial token loan structure to enrich themselves at the expense of the very projects they’re meant to support. These deals, often framed as low-risk and high-reward, can crater token prices and leave fledgling crypto teams scrambling to recover.“How it works is that market makers essentially loan tokens from a project at a certain price. In exchange for those tokens, they essentially promise to get them on big exchanges,” Ariel Givner, founder of Givner Law, told Cointelegraph. “If they don’t, then within a year, they repay them back at a higher price.”What often happens is that market makers dump the loaned tokens. The initial sell-off tanks the price. Once the price has cratered, they buy the tokens back at a discount while keeping the profit.Source: Ariel Givner“I haven’t seen any token really benefit from these market makers,” Givner said. “I’m sure there are ethical ones, but the bigger ones I’ve seen just destroy charts.”The market maker playbookFirms like DWF Labs and Wintermute are some of the best-known market makers in the industry. Past governance proposals and contracts reviewed by Cointelegraph suggest that both firms proposed loan option models as part of their services — though Wintermute’s proposals call them “liquidity provision” services.DWF Labs told Cointelegraph that it doesn’t rely on selling loaned assets to fund positions, as its balance sheet sufficiently supports its operations across exchanges without relying on liquidation risk. “Selling loaned tokens upfront can damage a project’s liquidity — especially for small- to mid-cap tokens — and we’re not in the business of weakening ecosystems we invest in,” Andrei Grachev, managing partner of DWF Labs, said in a written response to Cointelegraph’s inquiry.Related: Who’s really getting rich from the crypto bull run?While DWF Labs emphasizes its commitment to ecosystem growth, some onchain analysts and industry observers have raised concerns about its trading practices.Wintermute did not respond to Cointelegraph’s request for comment. But in a February X post, Wintermute CEO Evgeny Gaevoy published a series of posts to share some of the company’s operations with the community. He bluntly stated that Wintermute is not a charity but in the “business of making money by trading.” Source: Evgeny GaevoyWhat happens after the market maker gets the tokens?Jelle Buth, co-founder of market maker Enflux, told Cointelegraph that the loan option model is not unique to the well-known market makers like DWF and Wintermute and that there are other parties offering such “predatory deals.”“I call it information arbitrage, where the market maker very clearly understands the pros and cons of the deals but is able to put it such that it’s a benefit. What they say is, ‘It’s a free market maker; you don’t have to put up the capital as a project; we provide the capital; we provide the market-making services,’” Buth said.On the other end, many projects don’t fully understand the downsides of loan option deals and often learn the hard way that they weren’t built in their favor. Buth advises projects to measure whether loaning out their tokens would result in quality liquidity, which is measured by orders on the book and clearly outlined in the key performance indicators (KPIs) before committing to such deals. In many loan option deals, KPIs are often missing or vague when mentioned.Cointelegraph reviewed the token performance of several projects that signed loan option deals with market makers, including some that worked with multiple firms at once. The outcome was the same in those examples: The projects were left worse off than when they started.Six projects that worked with market makers under the loan option agreement tanked in price. Source: CoinGecko“We’ve worked with projects that were screwed over after the loan model,” Kristiyan Slavev, co-founder of Web3 accelerator Delta3, told Cointelegraph.“It’s exactly the same pattern. They give tokens, then they’re dumped. That’s pretty much what happens,” he said.Not all market-maker deals end in disasterThe loan option model isn’t inherently harmful and can even benefit larger projects, but poor structuring can quickly turn it predatory, according to Buth.A listings adviser who spoke to Cointelegraph on the condition of anonymity echoed the point, emphasizing that outcomes depend on how well a project manages its liquidity relationships. “I’ve seen a project with up to 11 market makers — about half using the loan model and the rest smaller firms,” they said. “The token didn’t dump because the team knew how to manage price and balance the risk across multiple partners.”The adviser compared the model to borrowing from a bank: “Different banks offer different rates. No one runs a money-losing business unless they expect a return,” they said, adding that in crypto, the balance of power often favors those with more information. “It’s survival of the fittest.”But some say the problem runs deeper. In a recent X post, Arthur Cheong, founder of DeFiance Capital, accused centralized exchanges of feigning ignorance of artificial pricing fueled by token projects and market makers working in lockstep. “Confidence in the altcoin market is eroding,” he wrote. “Absolutely bizarre that CEXs are turning an absolute blind eye to this.”Still, the listings adviser maintained that not all exchanges are complicit: “The different tier exchanges are also taking really extreme actions against any predatory market makers, as well as projects that might look like they rugged. What exchanges do is they actually immediately lock up that account while they do their own investigation.”“While there is a close working relationship, there is no influence between the market maker and the exchange of what gets listed. Every exchange would have their own due diligence processes. And to be frank, depending on the tier of the exchange, there is no way that there would be such an arrangement.”Related: Crypto’s debanking problem persists despite new regulationsRethinking market maker incentivesSome argue for a shift toward the “retainer model,” where a project pays a flat monthly fee to a market maker in exchange for clearly defined services rather than giving away tokens upfront. It’s less risky, though more expensive in the short term.“The retainer model is much better because that way, market makers have incentives to work with the projects long term. In a loan model, you get, like, a one-year contract; they give you the tokens, you dump the tokens, and then one year after that, you return the tokens. Completely worthless,” Slavev said.While the loan option model appears “predatory,” as Buth put it, Givner pointed out that in all these agreements, both parties involved agree to a secure contract.“I don’t see a way that, at this current time, this is illegal,” Givner said. “If somebody wanted to look at manipulation, that’s one thing, but we’re not dealing with securities. So, that gray area is still there in crypto — [to] some extent the Wild West.”The industry is becoming more aware of the risks tied to loan option models, especially as sudden token crashes increasingly raise red flags. In a now-deleted X post, onchain account Onchain Bureau claimed that a recent 90% drop in Mantra’s OM token was due to an expiring loan option deal with FalconX. Mantra denied the claim, clarifying that FalconX is a trading partner, not its market maker.Edited LinkedIn copy of Onchain Bureau’s LinkedIn post. Source: Nahuel AngeloneBut the episode highlights a growing trend: The loan option model has become a convenient scapegoat for token collapses — often with good reason. In a space where deal terms are hidden behind NDAs and roles like “market maker” or “trading partner” are fluid at best, it’s no surprise the public assumes the worst.“We’re speaking up because we make money off the retainer model, but also, this [loan option model] is just killing projects too much,” Buth said.Until transparency and accountability improve, the loan option model will remain one of crypto’s most misunderstood and abused deals.Magazine: What do crypto market makers actually do? Liquidity or manipulation
Mantra post-OM token crash statement leaves key questions unanswered
Troubled decentralized finance (DeFi) platform Mantra released an official statement addressing the reasons for a 92% flash crash of its OM token on April 13.An April 16 announcement titled “Statement of Events: 13 April 2025” reiterates that the crash did not involve any token sales by the project itself, and the Mantra team remains fully functional and continues investigating the incident.Although Mantra CEO John Mullin previously said that the team was preparing a post-mortem, the new statement offered few new details about the reasons behind the rapid movement of OM tokens to exchanges and the subsequent liquidation cascade.Limited circulation of mainnet OM tokensThe post also reiterated that there are two types of OM tokens, with one being Ethereum-based (ERC-20) and the other running on Mantra’s mainnet.“The incident almost exclusively involved ERC-20 OM, as ERC-20 OM represents virtually the entire liquid market,” Mantra said in the statement.Launched in August 2020, the original ERC-20 OM token has a fixed supply of 888.8 million OM, with 99.9% of these tokens being in public circulation as of April 15.However, Mantra mainnet OM tokens had only 77.5 million in circulation after the Mantra Chain minted an equivalent amount of OM in October 2024.Mantra’s conclusionsAdditionally, the post mentions a divergence in OM spot prices on OKX and Binance. The discrepancy began around 6:00 pm UTC, around an hour before the OM token’s crash, according to CoinGecko.Among its conclusions, Mantra stated that further information from its exchange partners will “provide more clarity on these events, adding:“We invite our centralized exchanges partners to collaborate on providing more clarity on trading activities during this time.”The Mantra team confirmed that it is preparing a support plan for OM that includes both a token buyback and a supply burn. No timeline for the rollout of this plan was provided.Related: Mantra CEO plans to burn team’s tokens in bid to win community trustAs previously reported by Cointelegraph, OKX CEO Star Xu called Mantra a “big scandal” in a post published hours following the crash. Mantra CEO Mullin also said Binance is the biggest holder of the OM token, citing Etherscan records.Cointelegraph contacted the Mantra team for further comment on the April 16 statement but did not receive a response by publication time.Magazine: Memecoins are ded — But Solana ‘100x better’ despite revenue plunge
Emerging markets need boutique market-making to reach their full potential
Opinion by: Mārtiņš Beņķītis, co-founder and CEO of Gravity TeamAs crypto adoption plateaus in some developed nations, emerging markets have led the charge for adoption. Southeast Asia, Africa and Latin America have become rapid growth centers, with new activity driven by limited banking options, local currency instability and growing smartphone use. The need for alternative finance in these regions is acute. While blockchain technology can deliver it, it certainly won’t be easy.A significant hurdle in emerging crypto markets is market-making, where traditional approaches have struggled as a result of specific challenges, including limited infrastructure and economic instability. Standard market-making strategies often fail or are simply unable to account for these complexities. A new approach known as “boutique market-making” can unlock growth, providing tailored liquidity solutions that consider local factors like regional regulations, cultural nuance and specific pain points for each market. This “boutique” approach will bring enormous benefits to the average person in emerging markets and, for the first time, create access to financial services and give them control over their economic outlook.Providing liquidity in emerging markets is challengingWhile the potential for growth in emerging crypto markets is clear to see, tapping into it is not. The path is fraught with challenges that require a specialized and nuanced approach. Here, standard market-making strategies are largely ineffective. Consider trying to navigate the regulatory maze of a country where the rules keep changing and the economy is delicate and volatile. That’s the reality in Argentina. Stringent capital controls create a technical minefield for crypto transactions, requiring 24/7 monitoring and hyper-reactive strategies to ensure compliance. Why would any liquidity provider want to work with such uncertainty?Then there’s the technological issue. Many local exchanges are built on outdated infrastructure with high latency and slippage. It’s far from the seamless APIs and lightning-fast execution of the world’s top platforms. It leads to traders and liquidity providers being discouraged from participating, resulting in thin order books, a persistent drought, and a vicious cycle of low liquidity and limited opportunity. FX volatility further compounds the issue. Some fiat currencies experience wild fluctuations that deliver immediate conversion risks. Many local banking systems, aiming to protect their clients from this volatility, have implemented blanket bans on crypto-related transactions, causing settlement friction. This cocktail of issues has pushed people away from centralized banking and right into the waiting arms of peer-to-peer trading, where direct transactions further fragment liquidity and make it hard for localized cryptocurrency exchanges to gain traction. These technical hurdles, however, can be overcome. They just require a contextually rich approach to market making, one that is acutely aware of every risk, issue, human need and cultural factor.Why standardized solutions fail in emerging marketsTraditional market-making firms are used to standardized protocols, which makes it hard for them to adapt, leading to inadequate liquidity failures. This is particularly evident in regions like Argentina and Turkey, where local conditions demand bespoke solutions, despite Turkey having the highest crypto adoption rate in the world at 27.1%, followed by Argentina at 23.5%. These are well above the global crypto ownership rate estimated at 11.9%.In Argentina, boutique firms can facilitate US dollar stablecoin flows to provide a crucial lifeline for those needing a stable alternative to the volatile peso and capital controls. Even considering this kind of service requires a deep understanding of local regulations and a proactive compliance approach.In Turkey, price discrepancies between global and local platforms create considerable inefficiencies. Boutique market-makers stepped in to act as bridges, smoothing out inefficiencies and ensuring fairer prices for local traders.Recent: Cryptocurrency investment should favor emerging marketsTake a look at Bolivia. Cryptocurrency was legalized in June 2024, with local crypto exchanges launching soon after but being starved of liquidity. Large firms didn’t want to touch them. Suddenly, when boutique market-makers stepped in, slippage was reduced, and prices stabilized, making trading more viable for investors of all sizes. The people won. The ability to build trust and forge lasting relationships with local communities and regulators is crucial. Hands must be shaken, and words must be kept.Stable liquidity fuels opportunitiesBoutique market makers work hard to deliver stable liquidity, in turn unlocking countless opportunities for people within emerging crypto markets. By providing consistent buy and sell orders, they reduce slippage and price volatility, creating a reliable environment for developers to build tools, platforms and decentralized applications tailored to local needs. The stability provided by boutique market makers stems from their tailored strategies, using local knowledge, navigating regulatory mazes and bridging fragmented markets. This is unlike standardized approaches, which often falter on outdated tech or compliance hurdles. For users, this means accessible, liquid markets that support practical crypto use, from remittances to daily transactions, driving real-world adoption.A boutique market making futureEmerging crypto markets stand at a tipping point. With their agility and local insight, boutique market-makers are the key to turning potential into action and opportunity. It’s time for stakeholders, exchanges, regulators and communities to properly rally behind these specialized players, nurturing ecosystems where innovation thrives and everyday users gain real access. The path ahead is about building a foundation for a decentralized economy that works for all. To get there, liquidity is essential. Opinion by: Mārtiņš Beņķītis, co-founder and CEO of Gravity Team.This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
What is a VTuber, and how do you become one in 2025?
Key takeawaysA Vtuber is a real person behind a digital avatar, blending performance, storytelling, and creativity to connect with audiences through livestreams, games, podcasts, and more.Becoming a VTuber involves designing a unique avatar (2D or 3D), using motion capture for animation, and leveraging software tools like Live2D, VSeeFace, and AI voice modifiers.In 2025, VTubing success often starts with short-form mobile platforms like TikTok and YouTube Shorts. Cross-posting to Discord, X, or Twitch helps build community and drive monetization.Aspiring VTubers should be aware of risks like burnout, privacy breaches, platform dependency, and unpredictable income.Virtual YouTubers, or VTubers, have gained popularity in recent years. VTubers create content for their channels using computer-generated avatars. Although VTubers are particularly popular in Japan and other Asian countries, the trend is slowly spreading across the world.So, what exactly is a VTuber? How does VTubing work, and how can you become one in 2025? This article explores what a VTuber is, the tools and software, and how to start VTubing in 2025. What is a VTuber?Have you ever scrolled Twitch or YouTube and stumbled upon a virtual anime-style character live streaming, playing games and chatting with viewers? That was a VTuber.A VTuber is a digital content creator who uses a virtual avatar to produce videos or live content. These avatars are often animated in real-time using motion tracking and face capture, creating an online personality. These avatars can look like anime characters, animals, robots or even abstract creatures. However, behind every VTuber is a real person, using their voice, expressions and personality to bring the character to life.But how does an avatar actually copy your movements? Motion capture, or mocap, is the technology behind avatars that records a person’s movements using sensors to create realistic animations for virtual characters in games, movies or virtual reality. It converts real-world movement into digital 3D data for more lifelike animation.Some VTubers are run by professional businesses or agencies, while others are single creators with their own background stories and hand-crafted avatars. Whether they’re broadcasting games, selling merchandise, podcasting or just vibing with their audience, VTubers have established a space where technology meets creativity, and it’s growing day by day.VTuber vs. traditional YouTube content creatorAren’t VTubers just YouTubers with cool avatars? Well, not exactly. It all comes down to how they show up on screen. While traditional YouTubers appear as themselves, VTubers use animated avatars to represent their online persona, whether a space alien or a talking cat. The core content and interaction with the audience might be similar. Still, VTubing often leans into storytelling, roleplay and unique esthetics to create a more immersive experience for their fans, making the methods and approaches differ. Did you know? In 2024, the VTuber market was valued at $2.55 billion; by 2035, it is projected to reach $20.0 billion.How VTubing works and what tools are neededAs more creators dive into VTubing, the preparation required has also evolved, with a greater emphasis on crafting recognizable and unique characters to stand out in a crowded space. Below are the key aspects that make up the process of becoming a VTuber, ensuring your avatar captures attention and engages audiences. Virtual avatarThe process of creating a VTuber avatar in 2025 begins with concept development that involves designing the avatar’s appearance, personality and backstory. Once the concept is in place, you can move on to creating the 2D or 3D model using specialized software such as Live2D Cubism for 2D models and Blender, Viverse Avatar or Vroid Studio for 3D models. Choosing between a 2D or 3D avatar depends on your desired level of detail and animation, with 2D offering a more stylized, simpler look and 3D allowing for more dynamic, lifelike movement and depth.After designing the avatar, the next step is rigging, which involves adding bones and joints to enable movement. This process is done by using rigging software like Live2D or VUP for 2D and tools like VSeeFace for 3D models. These tools allow the virtual avatar to replicate the performer’s movements, making the character blink, talk and gesture in real-time.To capture and animate the performer’s movements, many VTubers use face-tracking mocap software such as VTube Studio or VSeeFace to track facial expressions. Livestreaming and content creationThe VTuber can start creating livestream content once the virtual avatar has been designed and animated. Livestreaming on platforms like YouTube and Twitch and gaming streams can be realized using software like OBS Studio or Streamlabs OBS. To edit pre-recorded videos, creators rely on software such as DaVinci Resolve or Adobe Premiere Pro. Additionally, voice changers like Voicemod or MagicVox can help modify the creator’s voice to match their avatar. Custom graphics and overlays can be created using tools like Photoshop or Canva.Engaged audienceThe power of the virtual avatar to have real-time conversations with the audience is a unique feature of VTubing. Building a credible brand is essential to becoming a successful VTuber, just like it is for other types of content creation. This means creating a unique character or identity for the virtual avatar and creating content that appeals to the intended audience.How to become a VTuber in 2025Besides the core aspects of VTubing covered above, there are a few more essentials to consider if you’re serious about starting VTubing in 2025.Use AI or avatar builders: Tools like Inworld or Ready Player Me offer plug-and-play solutions with simple customization. These are ideal for beginners who want to skip drawing and rigging. AI can also help with real-time voice modulation, AI-powered NPCs, or “non-player characters,” for collabs and even AI-generated scripts. Some VTubers are blending AI sidekicks into their streams.Customize stream setup: In 2025, customizing your VTuber stream setup entails incorporating stylish overlays, notifications, background music and chat widgets. Also, practicing your stream flow is essential to ensure smooth delivery of voice, emotive reactions and transitions.VTubing on TikTok and mobile: Short-form VTuber content is booming, especially on TikTok and YouTube Shorts. Many new creators start on mobile-first platforms before moving to full streams. Creating and sharing videos on platforms such as TikTok, X or Discord is essential for cross-platform marketing to reach new audiences, move your fans across platforms, and attract potential brand partnerships for sponsorship and ads.Did you know? Kuzuha from Nijisanji topped the 2024 view hours chart with over 40 million hours, retaining his position as a fan favorite for the second year in a row, according to Vstats, which compiles data from websites such as YouTube, Twitch and Soop.VTubing trends of 2025Due to developing technologies and shifting audience tastes, starting a VTuber career in 2025 means understanding the latest trends to stand out in an increasingly crowded industry.Niche contentIn 2025, standing out as a VTuber can also mean going niche. GFE or BFE, girlfriend or boyfriend experience, continue to lead the charge. These formats build one-sided emotional connections with fans who often become long-term supporters through monetizing exclusive content on platforms like Patreon.Autonomous sensory meridian response (ASMR) content continues to thrive, though creators must now carefully navigate platform rules to avoid demonetization. This content is designed to trigger relaxing tingles through soft sounds and visuals. Gaming and “Let’s Play” content continue to be a cornerstone while being an oversaturated niche. In the end, the most prominent VTubers in the competitive landscape of 2025 are those who establish a clear identity, respect boundaries, and provide consistent, emotionally resonating material.2D estheticsAnime-style VTubers remain fan favorites, but 2025 has brought an extra layer of polish. Expect hyper-stylized 2D models with dynamic lighting, soft shading and intricate accessories. Subtle breathing, animated eyes and natural motion physics are raising the bar for Live2D designs.Focus on culture and uniqueness Avatar localization and distinctiveness extend beyond language; it entails modifying features, content and tactics to conform to regional norms, cultural preferences and local regulations. Platforms may increase user engagement by creating a feeling of community and relevance by customizing themselves for particular geographic areas.Decentralized identities and NFTsSome VTubers use blockchain to secure their avatars and sell collectibles such as non-fungible tokens (NFTs), helping monetize the avatars. Risks of becoming a VTuber in 2025While the VTuber space continues to grow rapidly in 2025 — with better tools, bigger audiences and even corporate sponsorships — aspiring creators should be aware of the risks involved. Here are key challenges to consider before jumping in:Burnout and creative fatigue: VTubing often requires constant content creation, livestreaming and staying in character, which can quickly lead to exhaustion without proper balance or breaks.Privacy and doxxing threats: While VTubers use avatars to remain anonymous, popular creators are still at risk of having their real identities exposed, especially in toxic or competitive environments.Platform dependency: Most VTubers rely heavily on platforms like YouTube, Twitch or TikTok. Sudden algorithm changes, demonetization or account bans can drastically affect visibility and income.Monetization challenges: Generating steady income as a VTuber isn’t guaranteed. Success depends on audience growth, sponsorships and fan support — all of which can take years to build.High upfront costs: Creating a professional-grade 2D or 3D avatar, along with streaming equipment and software, often requires significant financial investment before any returns are made.Intense market competition: As the VTuber space grows globally, it becomes harder for new creators to stand out without a unique niche, strong branding or technical polish.AI impersonation and deepfakes: In 2025, advanced AI tools make it easier for bad actors to clone VTuber voices or designs, increasing the risk of content theft, brand damage or viewer confusion.So, becoming a VTuber in 2025 offers creative freedom, global reach and new career paths — but it’s not without challenges. From financial risks to mental strain and evolving tech threats, success requires more than just a good avatar. Do your research, protect your privacy, and approach the journey with both passion and preparedness.
Trump-linked World Liberty Financial gets $25M investment from DWF Labs
Crypto market maker DWF Labs announced a $25 million investment in World Liberty Financial, the decentralized finance (DeFi) project backed by US President Donald Trump and his sons, as the company expands into the United States with an office in New York City. On April 16, Dubai-based DWF Labs said it had purchased World Liberty Financial (WLFI) tokens through a private transaction.The firm said the transaction reflects its intent to participate in WLFI’s governance. As tokenholders, DWF Labs will be able to vote on decisions that impact the ecosystem.WLFI launched on Sept. 16, 2024, to promote DeFi and US dollar-pegged stablecoins. During the launch, Trump said the family was “embracing the future with crypto and leaving the slow and outdated big banks behind.”DWF Labs to provide liquidity for USD1 stablecoinAlongside the WLFI investment, DWF Labs said the collaboration includes providing liquidity for the project’s stablecoin, World Liberty Financial USD (USD1). On March 24, the DeFi project launched USD1 on BNB Chain and Ethereum. However, the project clarified that the stablecoin was not yet tradable. DWF Labs is a market maker that provides liquidity for over 60 exchanges around the globe. A market maker allows traders to execute their trades by providing liquidity. They make or take orders from traders, allowing smooth trading operations. The investment coincides with DWF’s expansion into the US. The market maker said it had established an office in New York City as part of its global expansion plans. The company expects the expansion to improve its institutional partnerships with banks, asset managers and fintech companies. It also aims to strengthen its engagement with US regulators. Related: DWF Labs launches $250M fund for mainstream crypto adoptionWLFI has raised over $600 million since its launchSince its launch in September, World Liberty Financial has already raised over $600 million for its DeFi protocol. The company raised $300 million during its first token sale by selling 20 billion WLFI tokens. The company sold another 5 billion tokens at $0.05 each, meeting its price target of an extra $250 million on March 14. This puts the overall WLFI public token sales earnings at $550 million. On Nov. 25, Tron Founder Justin Sun purchased 2 billion WLFI tokens for $30 million. Investment platform Web3Port also announced a $10 million WLFI investment, while venture capital firm Oddiyana Ventures announced a strategic investment without disclosing the amount. Magazine: What do crypto market makers actually do? Liquidity, or manipulation
UFC boss Dana White becomes VeChain adviser to push blockchain mainstream
VeChain, a layer-1 blockchain platform focused on real-world applications, has added Ultimate Fighting Championship (UFC) CEO Dana White as its newest official adviser to raise more mainstream awareness of blockchain technology.White, also the founder of Power Slap, will join VeChain’s advisory board next to Nobel Prize-winning physicist Konstantin Novoselov to drive real-world blockchain adoption through “complementary expertise in mass marketing and scientific innovation.”“VeChain is an incredible partner for the UFC and Power Slap, and I’m honored to join their advisory board,” White said in a statement shared with Cointelegraph. “I’m passionate about technology, and with their products and innovation, I’m looking forward to helping elevate their brand to the next level.”UFC CEO Dana White (left) with Sunny Lu, co-founder and CEO of VeChain (right). Source: Jeff Bottari, UFCRelated: 4th gen crypto needs collaborative tokenomics against tech giants — HoskinsonThe move could significantly expand blockchain’s reach. UFC broadcasts reach more than 950 million households globally, giving VeChain a major opportunity to connect with new users.White will play a pivotal role in amplifying VeChain’s sustainability initiative, VeBetterDAO, a decentralized platform incentivizing “real-world sustainable actions” through the DAO’s incentive tokens (B3TR).White will not receive any B3TR or VeChain (VET) tokens as compensation for his advisory role, VeChain confirmed to Cointelegraph.Related: Bitcoin still on track for $1.8M in 2035, says analystUFC taps VeChain for tokenized fighter glovesThe UFC has already implemented VeChain’s technology, with Near-field communication (NFC) chips integrated into a new generation of fighter gloves.Source: VeChain“This was done to combat fraud, as fighter apparel is often auctioned off for charity and other causes, but suffers from a high degree of fraud,” Sunny Lu, co-founder and CEO of VeChain, told Cointelegraph, adding:“The NFC + blockchain combination helps demonstrate the items are authentic. An example of how VeChain creates ‘RWA’ and phygital goods.”“Additional conversations are underway with the UFC, the UFC Foundation and other partners to provide opportunities for VeChain and the VeBetter app ecosystem,” with details to be revealed in the coming weeks, Lu added.VeChain is a layer-1 smart contract platform designed to enhance the supply chain and accelerate the mass adoption of blockchain technology.Magazine: Bitcoin eyes $100K by June, Shaq to settle NFT lawsuit, and more: Hodler’s Digest, April 6 – 12
Real estate fintech Janover doubles Solana holdings with $10.5M buy
Real estate-focused financial technology firm Janover has acquired 80,567 Solana tokens for roughly $10.5 million.According to an April 15 announcement, with its latest purchase, Janover’s Solana (SOL) holdings reached 163,651.7 — worth about $21.2 million, including staking rewards. With this investment, the amount of Solana per each of the 1.5 million shares reached 0.11 SOL, valued at $14.47 — an increase of 120%.Janover stock price chart. Source: Google FinanceJanover plans to start staking the newly acquired SOL immediately to generate additional revenue. The announcement follows the company raising about $42 million with the expressed intent to enhance its digital asset treasury strategy.The new capital was raised in a convertible note and warrants sale from Pantera Capital, Kraken, Arrington Capital, Protagonist, The Norstar Group, Third Party Ventures, Trammell Venture Partners and 11 angel investors. At the same time, a team of former Kraken executives has taken control of the company.Joseph Onorati, former chief strategy officer at Kraken, stepped in as chairman and CEO at Janover following the group’s purchase of over 700,000 common shares and all Series A preferred stock. Related: Real estate firm Fathom can now add Bitcoin to its balance sheetAltcoins on the balance sheet?Janover is one of the latest companies to decide to add digital assets to their corporate treasury. What makes it an outlier is the decision to accumulate an asset that is not Bitcoin (BTC).The most notable example of a Bitcoin-accumulating firm is Strategy (formerly MicroStrategy). Strategy is a publicly traded business intelligence company founded as MicroStrategy in 1989.In 2020, the firm pivoted to acquiring as much Bitcoin as possible. Strategy now holds well over 2.5% of all Bitcoin that will ever be produced.Related: Bitcoin on corporate balance sheets: What’s the risk and reward?Bitcoin dominates balance sheetsBitcoinTreasuries.NET data shows that Strategy holds 528,185 BTC worth nearly $44.2 billion at the time of writing. The company has leveraged debt to accumulate its Bitcoin.Another example of a company that is now focused on accumulating Bitcoin is Metaplanet, often referred to as “Japan’s MicroStrategy.” Both companies hold Bitcoin as a hedge against inflation and as part of a broader strategy to diversify and modernize their treasuries.According to some analysts, this strategy may soon pay off. Bitcoin is showing growing resilience to macroeconomic headwinds compared with traditional financial markets, according to a recent Wintermute report. Still, not everyone is convinced that the trend will hold, with the founder of Obchakevich Research, Alex Obchakevich, saying:“As the trade war intensifies, Bitcoin may return to the list of risky assets. Because investors will most likely look for salvation in gold.“Magazine: Bitcoin eyes $100K by June, Shaq to settle NFT lawsuit, and more: Hodler’s Digest, April 6 – 12
Bitcoin Treasury bonds may help US refinance $14T debt — VanEck exec
VanEck’s head of research has pitched a new type of US Treasury bond partially backed by Bitcoin to help refinance $14 trillion in US debt.Matthew Sigel pitched the concept of “BitBonds” — US Treasury bonds with exposure to Bitcoin (BTC) — at the Strategic Bitcoin Reserve Summit 2025 on April 15.The new 10-year bonds would be composed of 90% traditional debt and 10% BTC exposure, Sigel said, appealing to both the Treasury and global investors.Even in a scenario where Bitcoin “goes to zero,” BitBonds would allow the US to save money to refinance an estimated $14 trillion of debt that will mature in the next three years, he said.Bitcoin to boost investor demand for T-bonds“Interest rates are relatively high versus history. The Treasury must maintain continued investor demand for bonds, so they have to entice buyers,” Sigel said during the virtual event.Meanwhile, bond investors want protection from US dollar inflation and asset inflation, which makes Bitcoin a good fit as a component of the bond, as the cryptocurrency has emerged as an inflation hedge.An excerpt from Matthew Sigel’s presentation on Bitbonds at the Strategic Bitcoin Reserve Summit 2025. Source: Matthew Sigel With the proposed structure and a 10-year term, a BitBond would return a “$90 premium, along with whatever value that Bitcoin contains,” Sigel said, adding that investors would receive all the Bitcoin gains up to a maximum annualized yield to maturity of 4.5%.“If Bitcoin gains are big enough to provide that above a 4.5% annualized yield, the government and the bond buyer split the remaining gains 50 over 50,” he said.Upsides and downsidesCompared to standard bonds, the proposed 10-year BitBonds would offer the investor substantial gains in a scenario where Bitcoin gains exceed the break-even rates, Sigel said.A downside, however, is that Bitcoin must attain a “relatively high compound annual growth rate” on lower coupon rates in order for the investor to break even, he added.Source: Matthew Sigel From the government’s perspective, if they were able to sell the bond at a coupon of 1%, the government would save money “even if Bitcoin goes to zero,” Sigel estimated, adding:“The same thing if the coupon is sold at 2%, Bitcoin can go to zero, and the government still saves money versus the current market rate of 4%. And it’s in these 3% to 4% coupons where Bitcoin has to work in order for the government to save money.Previous BitBonds pitches to governmentWhile the idea of crypto-backed government bonds is not new, Sigel’s BitBond pitch follows a similar proposal by the Bitcoin Policy Institute in March.The BPI estimated the program could generate potential interest savings of $70 billion annually and $700 billion over a 10-year term.Treasury bonds are debt securities issued by the government to investors who loan money to the government in exchange for future payouts at a fixed interest rate.Related: Bitcoin could hit $1M if US buys 1M BTC — Bitcoin Policy InstituteCrypto-enabled bonds would be linked to cryptocurrencies like Bitcoin, allowing investors to gain exposure to potentially more enticing rewards.Source: Bitcoin Policy Institute As the US government grows bullish on crypto under President Donald Trump’s administration, the narrative for potential Bitcoin-enhanced Treasury bonds has been on the rise.Magazine: Bitcoin eyes $100K by June, Shaq to settle NFT lawsuit, and more: Hodler’s Digest, April 6 – 12