Thumzup is planning a $50 million initial public offering (IPO), with the net proceeds intended to accumulate cryptocurrency and mining equipment.
August 11th. Thumzup Media Corporation (Nasdaq: TZUP) announced today the pricing of its covertly marketed common stock public offering. Alongside this, there is a common stock alternative for certain investors - pre-funded warrants to subscribe for its common stock, with a public offering price set at $10 per share.
The company anticipates receiving gross proceeds of $46.5 million from this offering, prior to deducting underwriting discounts and other offering expenses. The offering is expected to close around August 12th, 2025, contingent upon the usual closing conditions. The company intends to utilize the net proceeds from this offering for the exploration of cryptocurrency and the accumulation of mining equipment, as well as for working capital and general corporate purposes.
BlockBeats Note: In July 2025, Donald Trump Jr., the son of the former president, disclosed that he had purchased 350,000 shares of Thumzup, which was worth approximately $3.3 million to $4.3 million based on
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Berenstein: Coinbase Will Be the Biggest Beneficiary of ETH's Rise, Altseason Has Begun
On August 11th, Bernstein analysts declared that as ETH rose and the altcoin season arrived, Coinbase would become the greatest beneficiary.
Led by Gautam Chhugani, the analysts pointed out in a report to clients on Monday that since the remarkable IPO of the stablecoin issuer Circle on June 5th, ETH has increased by 80%. With the awareness that most stablecoins are issued on the Ethereum network, investor interest in the Ethereum ecosystem is expanding.
Chhugani stated: "In cryptocurrency terms, this market structure is referred to as an 'altcoin season rally,' where digital assets other than Bitcoin exhibit a stronger rebound compared to Bitcoin. We believe that the altcoin rebound has already commenced (the recent outstanding performance of ETH has already reflected this), and Coinbase will be the biggest beneficiary as it has listed more than 250 tokens and integrated Base Layer 1 tokens into the Coinbase App."
The analysts pointed out that Base Layer 1 processes more than 9 millio
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GSR Partners with DigiFT to Launch RWA Token OTC Secondary Market
On August 11th, according to Coindesk, the cryptocurrency market maker GSR has formed a partnership with the regulated tokenized asset trading platform DigiFT to initiate over-the-counter (OTC) secondary trading of tokenized real-world assets (RWA). This service is targeted at eligible institutional investors and is available seven days a week during Asian market hours. Qualified institutions can trade tokenized units of funds such as the Invesco US Senior Loan ETF (iSNR), the UBS Dollar Money Market Fund (uMINT), and the Wellington Ultra Short Duration Government Chain Fund (ULTRA). GSR will offer systematic bid-ask spreads, while DigiFT's platform enables settlement under regulation in Singapore and Hong Kong.
According to DeFiLlama data, the RWA sector has grown to a total asset size of over $13.4 billion, with a substantial portion coming from tokenized government bond funds and gold-backed cryptocurrencies.
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Contract Trading Whale AguilaTrades Liquidates Short Position with a "Lightspeed" Exit, Losing $1.866 Million in 12 Minutes
On August 11th, according to on-chain analyst Ai Auntie (@ai_9684xtpa), after the US stock market opened and Ethereum surged to $4300, a short order of 26187 ETH from the contract trading whale AguilaTrades was triggered. Subsequently, a "lightning-speed" liquidation occurred 12 minutes later, resulting in a loss of $1.866 million.
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Ethereum Rises Above $4250, US Stocks Up Around 2% After Market Open
On August 11th, based on HTX market data, Ethereum has rebounded and is now above $4250, currently trading at $4256. Meanwhile, the US stock market opened with a 1.97% increase.
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