Normally, a $21 billion equity offering by a company only worth just over double that amount would tank the issuer's stock price. But the economics around corporate America's biggest bitcoin bull are different.
The revised plan to sell only $30 million of WLFI tokens — instead of the originally planned $300 million — suggests Trump may not quickly see a big payday from World Liberty Financial.
Ellipsis is best known as the builder of Phoenix, the popular orderbook-style exchange on Solana.
Crypto-linked stocks such as MicroStrategy, Coinbase, Robinhood and bitcoin miners MARA, RIOT also suffered sizable declines.
The goal of allowing greater utility on the Bitcoin blockchain is one of almost existential importance, according to Citrea.
The $410 million fund is also available on Stellar, Aptos, Avalanche, Arbitrum and Polygon.
The Binance founder and former CEO received an ovation at a standing-room only appearance in Dubai.
The latest price moves in crypto markets in context for Oct. 31, 2024.
The company missed consensus revenue expectations, analysts said.
Completion of the acquisition is subject to regulatory approval in Spain.