Morgan Stanley Ethereum and Solana ETFs outperform rivals as second-day inflows reach $33 million

Morgan Stanley’s new Ethereum and Solana exchange-traded funds drew $33 million on their second trading day, outperforming larger rivals and giving the Wall Street firm an early foothold in two increasingly competitive markets. The Morgan Stanley Ethereum Trust, trading under the ticker MSSE, attracted $14.03 million on Wednesday, while the Morgan Stanley Solana Trust, or…

A 90% shareholder rebellion just forced this public company to dump its entire Bitcoin treasury at a crushing £39,984 per-coin loss

Shareholders of Satsuma Technology Plc approved a capital return and delisting with 90.63% and 90.59% of votes cast, respectively, against the majority board’s recommendation. The votes put the UK-listed Bitcoin treasury company on a path toward selling its Bitcoin and returning cash to shareholders. The result converted the conditional proposal CryptoSlate covered on July 16…

FTX’s $900M payout drops Friday, triggering 6-month countdown for creditors to onboard or forfeit funds entirely

FTX will begin an approximately $900 million fifth distribution under its Chapter 11 plan on Friday, July 31, paying holders of allowed Convenience and Non-Convenience claims who met the June 16 record-date and applicable pre-distribution requirements. Eligible creditors should receive funds from BitGo, Kraken or Payoneer within one to three business days from July 31,…

How a $1.9 billion ‘Bitcoin reserve’ ended up in the top corporate rankings without buying a single coin

As of July 30, BitcoinTreasuries ranked Bitcoin Standard Treasury Company fifth among public companies, displaying 30,021 BTC worth about $1.9 billion. Its live profile labels the amount “BTC Holdings” and “Bitcoin Reserve,” although the transaction documents describe the coins as contributions intended for a corporate treasury that has not closed on its announced terms. The…