KVANTS DAILY NEWSLETTER - JUL 28, 2025

Today,Metaplanet has added 780 BTC to its reserves, bringing its total holdings to 17,132 BTC worth over $2 billion. SharpLink followed suit with a massive $295 million Ether purchase, acquiring more ETH than was issued last month. Meanwhile, crypto investment products saw $1.9 billion in inflows this past week, with Ether leading the charge. On the technical front, Eigen Labs introduced a multichain verification feature aimed at boosting Ethereum’s scalability. In regulatory news, Senate Democrats are investigating the Federal Housing Finance Agency’s exploration of crypto in mortgage eligibility. Australia’s ASIC issued a warning to Bitget over offering unlicensed crypto futures, and Tornado Cash developer Roman Storm appealed for $1.5 million to cover legal fees amid an ongoing trial. Finally, Coinbase launched legal action against an individual for operating a misleading domain resembling its brand.

Metaplanet adds 780 Bitcoin, now holds 17,132 BTC worth over $2B

Metaplanet has expanded its Bitcoin holdings by acquiring an additional 780 Bitcoin, raising its total to 17,132 BTC and further solidifying its role as the leading non United States corporate holder of Bitcoin. The company invested approximately 92 million dollars in this latest transaction at an average price of 118,145 dollars per Bitcoin which brings its cumulative Bitcoin spending to about 1.7 billion dollars at an average cost of nearly 99,640 dollars per coin. LINK

IMPORTANCE

This development is significant as it showcases the growing influence of Asia particularly Japan in the Bitcoin corporate treasury movement traditionally dominated by United States based firms. Metaplanet's aggressive Bitcoin accumulation strategy signals increasing confidence in Bitcoin as a strategic reserve asset. Metaplanet is setting itself apart as a pioneer in digital asset treasury management outside the United States.

SharpLink buys $295M in ETH — more than all the Ether issued last month

SharpLink Gaming has significantly expanded its presence in the Ethereum ecosystem by acquiring 77210 Ether valued at 295 million United States dollars. This single purchase surpasses the total net Ether issued over the past 30 days, highlighting the firm's aggressive growth strategy and Treasury management. The company recently appointed a new co-chief executive officer with a strong background in institutional finance, and it has now accumulated more than 438000 Ether holdings valued at over 1.69 billion United States dollars.LINK

IMPORTANCE

SharpLink’s escalating Ethereum accumulation and staking strategy signals deepening corporate confidence in the Ethereum network's long-term viability and yield potential. The move also underlines the growing trend of mainstream firms entering the crypto space with institutional discipline and intent, a development institutional investors and market participants should monitor closely. SharpLink exercises outsized influence over liquidity and network dynamics in the short term.

Crypto funds see $1.9B inflows as Ether leads weekly gains

Global crypto exchange traded products recorded a substantial 1.9 billion US dollars in inflows for the week ending last Friday, sustaining a 15 week positive streak despite persistent market volatility. Ether based products led the charge with the most significant inflows while Bitcoin products experienced minor outflows, reflecting investor anticipation of Ether related ETFs rather than a broad shift to altcoins. LINK

IMPORTANCE

This movement of inflows highlights a pivotal moment for crypto markets as institutional sentiment begins to favor Ether over Bitcoin, at least in the short term, influenced by the prospects of Ether ETF launches. Persistent net inflows across crypto aggregated ETPs reinforce the resiliency of demand for digital assets from the institutional segment despite price setbacks and heightened volatility. For institutional participants, Ether's ascendency in fund flows may shape broader allocation models and trading strategies.

Eigen Labs CEO says ‘critical milestone’ slashes scalability trade-off

Eigen Labs has introduced a multichain verification feature that allows decentralized services to run on several layer 2 networks while maintaining the robust security protection of Ethereum. By enabling Actively Validated Services on both Ethereum and affiliated layer 2s such as Base Sepolia Testnet the team aims to advance the scalability and flexibility of decentralized infrastructure. LINK

IMPORTANCE

The ability for decentralized services to leverage both Ethereum level security and the scalability of layer 2 networks addresses a longstanding tradeoff in blockchain design. Institutional players and development teams gain efficiency and resilience by anchoring their services to a trusted network while expanding capacity to meet burgeoning demand. This evolution is particularly notable for projects seeking to support enterprise scale use cases without losing the trust and reliability inherent to Ethereum.

Democrats probe housing regulator over considering crypto in mortgages

Senate Democrats are scrutinizing the Federal Housing Finance Agency's recent initiative under director William Pulte to explore the role of crypto assets in mortgage eligibility. Senators led by Jeff Merkley, with support from Elizabeth Warren, Chris Van Hollen, Mazie Hirono and Bernie Sanders, have formally requested explanations and risk assessments regarding integrating cryptocurrency holdings into mortgage applications backed by Fannie Mae and Freddie Mac. LINK

IMPORTANCE

This development highlights growing tensions between advocates for financial innovation in real estate and lawmakers wary of systemic risks from integrating crypto into foundational US housing markets. The move by Pulte signals a willingness from federal agencies to test alternative asset classes in underwriting, a shift that could potentially transform access to mortgages and bring new liquidity to the sector if properly managed.

ASIC Issues Warning Over Bitget's 'Unlicensed' Crypto Futures Products in Australia

Australia's main financial authority has flagged Bitget for offering crypto futures products to local investors without securing the appropriate regulatory approval. Bitget does not possess an Australian Financial Services licence yet has actively marketed these derivatives in Australia, prompting direct warnings from the regulator. LINK

IMPORTANCE

This regulatory action signifies a tightening environment for global crypto exchanges operating without country specific permissions, underscoring increasing scrutiny towards derivatives products in particular. Institutional players must heed the evolving compliance landscape as authorities seek to align fast growing crypto activities with existing financial services regulation. Such moves by the Australian financial regulator highlight operational and reputational risks when skirting local licensing regimes.

Roman Storm asks for $1.5M lifeline as Tornado Cash trial presses on

Roman Storm, a key developer of Tornado Cash, has made an urgent appeal for 1.5 million dollars in additional donations to cover legal fees as his high profile trial continues. He and his legal team argue that Tornado Cash operates as a decentralized, non custodial protocol and contend that prosecution over its code development is a violation of free speech rights. The situation has drawn significant support from the wider cryptocurrency community. LINK

IMPORTANCE

This development is highly significant as it underscores the growing legal and regulatory scrutiny facing developers in the decentralized finance sector. How legal systems interpret liability regarding open source and autonomous smart contracts not only impacts individual actors like Roman Storm but could set pivotal precedents for the entire decentralized ecosystem. The case against Storm has become a central point for debate on privacy, free speech, and code as expression.

Coinbase sues man using a Coinbase-like URL to make money

Coinbase has initiated legal action against Tobias Honscha in a California federal court, alleging that Honscha is engaging in cybersquatting by controlling the domain coinbase.de. Coinbase contends that Honscha uses the domain to redirect traffic to an app dedicated to trading physical coins and also profits through affiliate links associated with Coinbase. The company argues that these activities are designed to exploit the significant brand equity Coinbase has established. LINK

IMPORTANCE

This legal dispute underscores ongoing challenges in the digital asset industry related to brand protection and domain rights, particularly as established companies like Coinbase expand globally. The case is critical for reinforcing legal precedents regarding cybersquatting and protecting corporate trademarks against unauthorized use, especially in major international markets.