Latest news with #financialrevolution
Gizmodo
30-06-2025
- Business
- Gizmodo
Why You Should Care About This War Over the Future of Money
The crypto world is buzzing. If you ask a true believer, they'll say this is just the beginning of a financial revolution. Ask a skeptic, and they'll swear we're watching a bubble inflate in real time, one that could pop at any second. This entire debate is now playing out in a public showdown between two of the biggest names in finance. Michael Saylor and Jim Chanos are two men with very different visions of the future, and they're now in open combat on X (formerly Twitter). Saylor, the billionaire co-founder and executive chairman of MicroStrategy (now rebranded as Strategy), has spent the last few years transforming his company from a sleepy enterprise software firm into a Bitcoin holding vehicle. Strategy now holds over 592,345 Bitcoins, worth tens of billions of dollars, according to And it's not stopping there. Saylor believes Bitcoin isn't just a digital asset, but a form of monetary energy that will replace cash, gold, and maybe even government bonds. On the other side is Jim Chanos, the legendary short seller who made his name betting against Enron and winning. He's now warning that MicroStrategy's entire Bitcoin pivot is built on hype, not fundamentals. The two are clashing over Saylor's latest move: the launch of new digital securities — tickers like $STRK, $STRF, and $STRD — that Saylor says are 'driving the digital transformation of the credit markets.' These are blockchain-based financial instruments tied to MicroStrategy's Bitcoin holdings, and they're being marketed as next-generation alternatives to traditional debt. '$MSTR is driving the digital transformation of the credit markets,' Saylor declared on X, linking to promotional material about these new securities. Chanos fired back immediately, dismissing the move as a distraction. 'As much as he wants to push the $MSTR preferred narrative, they represent less than 3% of the current $MSTR EV ($120B).' As much as he wants to push the $MSTR preferred narrative, they represent less than 3% of the current $MSTR EV($120B). — James Chanos (@RealJimChanos) June 27, 2025So, what's really happening here? Saylor's company, Strategy, is the world's most aggressive Bitcoin treasury company. This simply means it's a public company that has decided to hold Bitcoin on its balance sheet instead of traditional cash reserves. It's like if Apple decided to hold Bitcoin instead of dollars on its balance sheet. Its new digital securities, like $STRK, $STRF, and $STRD, act like corporate bonds or preferred stock. But instead of being issued and tracked through Wall Street, they exist on the blockchain. This makes them programmable, instantly traceable, and theoretically more efficient to trade. Saylor believes this is the future of corporate finance: a world where companies raise money and pay investors directly using Bitcoin and blockchain 'rails,' cutting out the big banks and other middlemen. This vision is the core promise of DeFi, or decentralized finance, an attempt to rebuild the entire financial system using open-source code instead of gatekeepers. Chanos, on the other hand, sees it as a distraction, a shiny new crypto toy that doesn't move the needle. His argument is that these new digital assets are just a sideshow, representing a tiny fraction of Strategy's total enterprise value (EV) and doing nothing to justify its staggering $100 billion market capitalization as of June 27. He believes the company is just a glorified Bitcoin fund that is trading at a huge premium to the value of the Bitcoin it actually holds, a premium propped up by hype and a cult-like belief in Saylor's vision. This fight is about much more than one company. It's a battle over the future of money. If Saylor is right, we could be at the dawn of a new era where more companies abandon the dollar in favor of Bitcoin and rebuild Wall Street from scratch. But if Chanos is right, it's all smoke and mirrors, and Strategy is ground zero for the next great crypto collapse. Saylor is betting the future of his company and his fortune on Bitcoin. Chanos is betting that future doesn't exist. One of them will be spectacularly wrong.
Yahoo
30-06-2025
- Business
- Yahoo
More Than 40 Million People Already Use Crypto Wallets Like Bank Accounts—Here's What They Know That You Don't
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. New data reveals three seismic shifts transforming how millions manage money—and early adopters are already capitalizing The crypto wallet you think you know is dead. In its place, a financial revolution is quietly unfolding—one that's already processing over $9 billion in weekly transactions and could fundamentally change how you bank, invest, and interact with money. According to explosive new data from Dune Analytics and crypto wallets are morphing from simple storage tools into comprehensive financial superapps. With more than 40 million people already using these wallets globally, the implications for everyday investors are staggering. Don't Miss: — no wallets, just price speculation and free paper trading to practice different strategies. Grow your IRA or 401(k) with Crypto – . The Numbers That Matter: Coinbase's (NASDAQ:COIN) Smart Wallet exploded from 15,000 weekly active users in January to over 40,000 by April—a 167% surge that signals a fundamental shift in how people interact with digital assets. But here's what makes this trend truly significant: these aren't just storage containers for crypto. Smart wallets are unlocking capabilities that traditional banking can't match: Password-free access using advanced account abstraction technology Fee-less transactions where someone else covers your costs Instant wallet recovery if you lose access—no more lost fortunes 'Smart wallets are transitioning from being a technical novelty to becoming an infrastructure backbone for Web3 onboarding,' the report notes. Translation: this technology is moving from crypto enthusiasts to mainstream consumers. The Investment Angle: Base network, which powers much of this smart wallet activity, now accounts for 65% of smart account deployments and 87% of all advanced wallet operations. For investors, this suggests Layer 2 solutions like Base aren't just technical improvements—they're becoming the foundation of next-generation finance. Trending: New to crypto? on Coinbase. Remember when your wallet just held cash and cards? Crypto wallets are following the Asian 'superapp' model—think WeChat or Grab—where one platform handles your entire financial life. The $9 Billion Reality Check: Binance Wallet processes 33 million token swaps weekly with nearly $9 billion in volume Phantom wallet hit 10 million weekly swaps, representing 20% of Solana's entire network activity These aren't just numbers—they represent real people conducting real financial transactions What This Means for Your Money: Modern crypto wallets now offer integrated access to: Token swapping: Exchange cryptocurrencies instantly without centralized exchanges Staking rewards: Earn passive income by supporting network operations Cross-chain bridging: Move assets between different blockchains seamlessly DeFi access: Lend, borrow, and invest without traditional banks Gaming integration: Store and trade digital assets from blockchain games The Practical Impact: If you're still using separate apps for banking, investing, and digital payments, you're about to see that entire ecosystem consolidated into a single, more powerful interface. Here's where the story gets interesting for investors: the money isn't flowing where you might expect. The Emerging Market Surge: Countries like Nigeria, India, Indonesia and Vietnam are leading adoption by user volume. These markets aren't just participating—they're driving global crypto adoption. The Capital Concentration Reality: Despite massive user growth in emerging markets, the serious money remains concentrated in developed markets like the U.S., South Korea, and Europe. The Asian Custodial Dominance: In Asia, custodial wallets like OKX and Bitget dominate through ease-of-use and local brand trust. OKX controls substantial wallet capital in South Korea and China, suggesting different regions prefer different approaches to crypto custody. Investment Insight: This geographic split creates a fascinating dynamic. Wallet providers must balance high-volume user acquisition in emerging markets with high-capital management in developed regions. For investors, this suggests opportunities in companies that can successfully navigate both Infrastructure Play: With fewer than 10 companies dominating wallet market share, this isn't a crowded field—it's a winner-take-all battle for the financial infrastructure of the future. The Timing Factor: Technologies like Ethereum's EIP-7702 are enabling traditional wallet users to upgrade to programmable smart accounts. Early adoption of these platforms could provide significant advantages as the ecosystem matures. The Risk-Reward Calculation: While the growth numbers are impressive, remember that crypto wallets are still evolving rapidly. The leaders today may not be the leaders tomorrow, but the underlying trend toward financial superapps appears unstoppable. The transformation of crypto wallets from storage tools to financial superapps represents more than technological progress—it's a fundamental shift in how money works. For Investors: Consider exposure to the infrastructure powering this transformation, from Layer 2 networks like Base to wallet providers successfully scaling in both emerging and developed markets. For Consumers: The wallet revolution is happening whether you're ready or not. Understanding these platforms now—while they're still relatively simple—could provide significant advantages as they become more complex and central to daily financial life. The Bigger Picture: We're witnessing the early stages of a financial system that's more accessible, more integrated, and more global than anything that came before. The question isn't whether this transformation will happen—it's whether you'll be positioned to benefit from it. Read Next: Peter Thiel turned $1,700 into $5 billion—now accredited investors are eyeing this software company with similar breakout potential. Learn how you can This article More Than 40 Million People Already Use Crypto Wallets Like Bank Accounts—Here's What They Know That You Don't originally appeared on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Forbes
19-06-2025
- Business
- Forbes
Trump Company Cuts Stake In Crypto Venture
Family affair: President Trump teamed up with his sons Barron (left), Don Jr. (middle) and Eric (right) to launch World Liberty Financial, a crypto venture that has brought in more than a half billion dollars. One of Donald Trump's companies reduced its stake in World Liberty Financial, a key crypto venture for the president, from 60% to 40% at some point in the last 11 days, according to an analysis of fine print on World Liberty's website. The change, which came with zero fanfare, is the latest indication that the president—or someone working on his behalf—continues conducting backroom deals while he serves in office. Donald Trump unveiled World Liberty Financial in September, when he was entering the final stretch of his presidential campaign. The project offered vague promises of a 'financial revolution' and hawked tokens that could not be resold, with 75% of proceeds after the first $30 million going toward Trump and his family members. The Trumps set up a series of companies to collect the money. The president changed the name of an entity he created in 2016, DT Tower II LLC, transforming it into DT Marks DEFI LLC. Donald Trump had owned 100% of DT Tower II LLC, but his family members—presumably Don Jr., Eric and Barron—took a 30% interest in DT Marks Defi LLC, leaving their father with 70%. In July 2024, someone registered three new companies in Delaware using the initials of Don Jr., Eric and Barron—DJT Jr DEFI LLC, ET DEFI LLC and BWT DEFI LLC. The Trump family's umbrella company, DT Marks Defi LLC, held a 75% interest in World Liberty Financial, according to a financial disclosure report that summarized the president's business, apparently as of the end of December. Things changed in the new year. Leading up to the Jan. 20 inauguration, business took off, with the Trumps and their partners selling more than $200 million of World Liberty tokens in a 29-hour stretch. The structure of the business changed, too. By Jan. 24, World Liberty's website said that DT Marks DEFI LLC owned 'approximately 60%' of World Liberty Financial, down from the 75% the Trumps apparently held just a few weeks earlier. Also around the time of the inauguration, a monitor who had been appointed to oversee the Trump Organization's finances as part of a fraud suit received word that the Trumps planned to sell a partial stake in one of their companies, apparently DT Marks DEFI LLC. The letter specified did not specify who intended to purchase the stake or how much money was involved. Representatives for the Trump Organization and World Liberty did not respond to questions when asked about the sale last week. In March, World Liberty announced that it had sold $550 million worth of tokens. About a week later, the company unveiled another endeavor, a cryptocurrency meant to track the U.S. dollar. A firm created by the president of the United Arab Emirates gave that stablecoin a strong start, agreeing to use it to make a $2 billion investment in a major crypto exchange. Then, on June 5, a stablecoin issuer not affiliated with Trump named Circle went public on the New York Stock Exchange. Shares shot up immediately, nearly tripling on their first day, showing just how much public-market investors love stablecoin businesses. If World Liberty were valued similarly to Circle, Trump's stablecoin venture might be worth $1.7 billion today. With numbers like that, it makes sense that the Trumps might have wanted to take some money of the table. Sometime after June 8, the language on World Liberty's site changed again—this time showing that DT Marks DEFI LLC owns about 40% of the business, down from 60%. Again, details on the transaction are scant. Given the volatility of Circle's stock, it's difficult to guess how much the Trumps might have received in a sale. But if the business were valued like Circle was on Friday, the Trump family might have cleared $190 million, with an estimated $135 million of that going to the president. Representatives of the Trump Organization and World Liberty did not respond to requests for comment, which makes sense, given that broadcasting divestments could theoretically damage the value of Trump's remaining crypto holdings. The Trump family may be looking ahead to bigger sales in the future—enhanced by powerful people in Washington. The U.S. Senate passed a regulatory framework for stablecoins on Tuesday, which the crypto industry cheered. Shares of Circle, the publicly traded stablecoin issuer, surged 34% the next day. Good news for the president. -With additional reporting by Zach Everson.
