ORBS News & Events

Tom Lee's Bitmine Immersion Technologies crosses 5.54M ether representing 4.59% of total circulating supply, Strategy adds bitcoin at $65,332 per coin to bring holdings above 845,000, Twenty One Capital restores NYSE audit compliance, and Bullish reports $32.9B in May trading volume. Stay up on the crypto news that matters with "Crypto Currents," daily from The Fly. Join us at 2 PM ET for your essential briefing on the fast-moving world of cryptocurrency on FlyCast radio.BITMINE CORNERS ETH SUPPLY:Bitmine Immersion Technologiesdisclosed holdings of 5,543,872 ethervalued at $1,630 per token as of June 7, alongside 204 bitcoin, $247M in cash, a $180M stake in Beast Industries, and an $88M stake in Eightco Holdings, placing total crypto and cash holdings at approximately $9.6B, according to. The 5.54M token position represents 4.59% of total circulating ether supply, a concentration level with no prior precedent among publicly traded corporate treasuries, and the company's cash balance fell approximately $199M week-over-week, indicating active ongoing accumulation rather than passive holding.STRATEGY ADDS 1,550 BTC:, Strategyrevealed the acquisition of 1,550 bitcoin for approximately $101M at an average price of $65,332 per coin, lifting total holdings to 845,256 bitcoin and raising the company's USD Reserve to $1B. The purchase arrived one week after Strategy sold 32 BTC, reinforcing a buy-the-dip execution pattern that has defined the company's treasury operations through each period of price softness. Doubling payout frequency on the STRC instrument expands its yield-appeal to income-focused holders and adds another capital-markets lever to the company's ongoing bitcoin accumulation engine.TWENTY ONE RESTORES NYSE COMPLIANCE:Twenty One Capital, the bitcoin treasury vehicle holding more than 43,500 bitcoin, appointed Paul Lalljie as an independent director and audit committee member, restoring the NYSE audit committee independence requirement that became impaired when SoftBanksold 89,106,748 Class A shares to Tether International on May 19, causing SoftBank's two board representatives to resign and dropping the audit committee below the two-independent-member threshold required by NYSE Rule 303A.07a,. Lalljie's compensation is set at a $150,000 cash retainer plus $150,000 in annual stock awards.BITGO MENA GOES LIVE:BitGo Holdingsconfirmed its VARA-regulated MENA subsidiary activated full electronic trading services for digital assets across the Middle East and North Africa, sourcing liquidity from multiple exchanges and providers to serve institutional clients in the region, according to. The launch extends BitGo's regulated custody footprint into a region where sovereign wealth and family office demand for licensed crypto infrastructure has outpaced provider supply.BULLISH VOLUME SOFTENS:Bullishdisclosed May unaudited exchange metrics showing total trading volume of $32.9B including $30B in spot, with an average spread of 2.23 basis points, average bitcoin volatility at 28%, and average ether volatility at 36%, according to. Bitcoin spot volume on the exchange came in at $16.8B for May, down from $20.9B in April, continuing a softening trend in digital asset trading activity that has pressured exchange-revenue comps across the industry.GENIUS BUYBACK AND NAVPS:Genius Grouprevealed its board authorized repurchase of up to 13.2M Class A shares representing 100% of the remaining 2025 AGM mandate expiring June 30, and formally adopted NAV per share, or NAVPS, as its primary reporting metric, with the most recently audited NAVPS standing at 60c as of FY25 year-end, citing shares trading at a meaningful discount to that figure,. The NAVPS adoption is a direct public signal that management views the current share price as an undervaluation, making the buyback both a capital return mechanism and a rerating call before the mandate's June 30 expiration.PRICE ACTION:As of time of writing, bitcoin was trading at $63,588.02, while ether was trading at approximately $1,680.06,.