SoftBank
PayPay, operated by SoftBank, is integrating with Binance Japan as it prepares for an anticipated U.S. IPO in December; the move ties a mainstream payments app to a major crypto exchange. SoftBank also backs one of the world’s top 10 public Bitcoin holders.
Over 160,000 traders were liquidated in 24 hours, generating $613 million in losses after Ethereum fell below its 20-day moving average. Panic accelerated when SoftBank sold Nvidia shares, amplifying volatility and putting key ETH supports at risk of breaking toward $3,000.
Twenty One Capital, Inc., led by Jack Mallers and backed by Tether and SoftBank, is set to become the third-largest Bitcoin treasury with over 42,000 Bitcoin. Trading under symbol "XXI", the company raised $585 million to buy more Bitcoin and fuel operations.
Public companies are increasingly adopting Bitcoin treasury strategies, inspired by MicroStrategy's success, to boost their cash reserves and attract tech-savvy investors. This trend combines crypto enthusiasm with evolving regulations, but also carries notable risks.