Strategy raises preferred stock offering to $2 billion. Crypto and fintech groups are urging Trump to defend open banking rules. BlackRock’s Ethereum ETF becomes 3rd-fastest to hit $10 Billion in assets and Google lands $1.2 billion cloud contract from ServiceNow. Jane King has the latest from the NYSE.
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Thanks, Patricia.
Here's a look at your Coin Street headlines.
Bitcoin Treasury Company strategy has reportedly increased its preferred stock offering to $2 billion up from the previously planned $500 million as it continues raising capital to fund additional Bitcoin purchases.
Bloomberg reports the shares carry an initial dividend of 9%.
Strategy's common stock has rallied 37% year to date and more than 146% in the last 12 months, pushing the company.
Market cap to around $116 billion.
A coalition of trade groups representing the crypto, fintech, retail and restaurant industries is urging President Trump to defend open banking rules.
Organizations including the Blockchain Association, Crypto Council for Innovation, and the Financial Technology Association claim that the U.S.'s most powerful banks are undermining innovation by suing to block the implementation of new open banking rules and imposing stunning new data fees on. and crypto apps.
The letter urges the Trump administration to file a legal brief asking the court to affirm that consumers, not banks, own their financial data and have the right to share it with apps of their choice free of charge.
BlackRock's Ethereum ETF became the 3rd fastest to hit $10 billion in assets.
It reached the milestone in 251 days.
Its Bitcoin ETF took only 34 days to break that milestone.
Filoy Investments Wise Origin Bitcoin fund followed closely.
Hitting the same milestone in just 54 days, and Google inked a deal worth more than a billion dollars to provide cloud computing services to the software firm ServiceNow.
Google Cloud, which is number 3 in the industry, is viewed as parent company Alphabet's strongest source of growth, and the main search business matures.
The cloud unit has benefited from the company's massive spending on AI and Alphabet's expertise in the technology has helped Google Cloud score some client wins, and that's the latest Coin Street headlines.