Track debt-related crypto news, leverage risks, credit exposure, and how liabilities affect markets, firms, and on-chain systems.
A Bitcoin treasury company can buy hundreds more Bitcoin without giving its existing shareholders much more Bitcoin at all.
USDT spreads dollar claims and Treasury funding demand while Tether keeps reserve ownership, portfolio control and gains above face value.
Bitcoin’s hashrate is rebounding from 850 EH/s as improving miner economics bring sidelined capacity back online.
Existing fixed debt keeps its terms, while future BitBonds must clear a materially higher funding hurdle.
One week of common-stock sales funded a $369.7 million Bitcoin purchase, $202.5 million of STRC buybacks and dividends, and a $30 million cash increase.
GENIUS reserves stop at 93 days while Treasury expands liquidity buybacks across 10- to 30-year debt.
The Aug. 25 unwind was capitalized into principal, while a one-time Sept. 24 test determines whether the $75,000 ceiling applies.
The planned 270 Bitcoin nearly offsets the placement, while full warrant exercise would cut the displayed ratio by about 24%.
IBIT’s published Aug. 26 close left investors in unlisted debt while preliminary terms layer on SOFR-linked financing.
