Latest news with #Blockstream
Yahoo
2 days ago
- Business
- Yahoo
Bitcoin shrugs off $9bn Galaxy dump with ‘barely a blip'
'Twas but a scratch. Galaxy Digital confirmed it executed one of the largest Bitcoin sales in history on Friday, offloading more than 80,000 Bitcoin worth over $9 billion on behalf of a Satoshi-era investor. But despite the staggering size of the transaction, the market barely flinched. Bitcoin prices dipped from around $118,000 to $115,000 before rebounding to pre-sale levels on Sunday. Analysts say the absorption is a sign that Bitcoin has matured into a deep, liquid market capable of handling major exits without panic. 'The market absorbing 80,000 Bitcoin in days with barely a blip is a big deal — Bitcoin isn't fragile,' Strike CEO Jack Mallers wrote on X. 'It's going to take orders of magnitude more to stop what's coming.' Even other major cryptocurrencies barely reacted. Ethereum has rebounded to trade higher than it was before the sale, while XRP is down just 1% from its price on Friday. Still, not everyone was impressed with how the sale was handled. 'Why is someone selling $9 billion in one shot?' asked Bloomberg Intelligence analyst Eric Balchunas on X. 'The slippage cost is probably insane.' Slippage refers to the difference between the expected price of a trade and the actual execution price. It's a major risk when large orders are dumped on public exchanges rather than sold gradually. Early Bitcoin developer and Blockstream CEO Adam Back was even more blunt: 'Why so clumsy — no OTC, no TWAP?' he wrote, referring to over-the-counter desks and time-weighted average price strategies, which are often used to avoid tanking the market. 'Probably hedged to at least recover the price drop they caused.' Crypto market movers Bitcoin has gained 0.6% in value over the past 24 hours and is trading at $118,150. Ethereum is also up 0.6% in the same period to $3,770. What we're reading BlackRock's crypto chief just jumped ship for Ethereum's second-biggest treasury company — DL News Finding the next MSTR — Milk Road GameSquare Buys Rare CryptoPunk NFT From Robert Leshner for $5.15 Million — Unchained LIBRA promoter Davis calls token a 'memecoin' in updated defence after suspicious transfers surface — DL News Kyle Baird is DL News' Weekend Editor. Got a tip? Email at kbaird@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
6 days ago
- Business
- Yahoo
Blockstream Expands in Europe With Acquisition of Swiss Crypto Firm Elysium Labs
Adam Back's Bitcoin development firm, Blockstream, has acquired Swiss blockchain startup Elysium Labs. The acquisition will see the creation of a European incubator entity, Blockstream CH SAGL, according to an emailed announcement shared with CoinDesk on Monday. The deal terms weren't disclosed by the firms. Blockstream is building momentum around its European ventures, following the inception of its Lugano Research Center, which is focused on product development of Bitcoin layer-2 networks Lightning and Liquid. The firm has not disclosed financial details of the acquisition. Blockstream CH SAGL will serve as a hub for Blockstream's European operations alongside its Turin, Italy-based research and development team and the Lugano Research Center, according to Monday's announcement. An early proponent of the cypherpunk movement, Blockstream CEO and co-founder Adam Back is a notable figure in Bitcoin lore. Back developed Hashcash in 1997 to combat email spam, which was a direct influence on Satoshi Nakamoto in creating Bitcoin's proof-of-work mechanism, and was cited as such in the original whitepaper. 'Bringing Elysium Lab into Blockstream strengthens our Swiss presence and amplifies our commitment to nurturing innovation across Europe,' Back said in Monday's announcement. Read More: Adam Back's Bitcoin Treasury Firm to Go Public with 30K BTC and $1.5B in Buying Power
Business Wire
21-07-2025
- Business
- Business Wire
Blockstream Launches Swiss HQ with Elysium Lab Acquisition, Cementing Leadership in European Bitcoin Infrastructure
LUGANO, Switzerland--(BUSINESS WIRE)--Blockstream, the global leader in Bitcoin-powered financial infrastructure, today announced the acquisition of Lugano-based digital asset company, Elysium Lab. The deal will mark the official launch of Blockstream CH SAGL, Blockstream's new European headquarters and incubator entity. Blockstream acquires Swiss digital asset firm Elysium Lab, establishing a European HQ in Lugano to expand Bitcoin infrastructure and deepen R&D across the region. This move deepens Blockstream's long-term commitment to Switzerland's vibrant fintech landscape and positions the country as a core pillar of Bitcoin infrastructure development in Europe. ' Bringing Elysium Lab into Blockstream strengthens our Swiss presence and amplifies our commitment to nurturing innovation across Europe, ' said Dr. Adam Back, CEO and co-founder of Blockstream. ' This acquisition reinforces our strategic expansion in the region and underscores our role as an ecosystem builder. ' Strengthening Blockstream's European Presence The acquisition builds on Blockstream's November 2024 launch of its Lugano Research Center and marks a new phase in the company's international growth strategy. As part of this strategy, Blockstream CH SAGL will serve as the operational hub for European initiatives, working in close collaboration with the Lugano Research Center and Blockstream's Turin-based R&D team. Together, these locations form a cross-border innovation network focused on advancing Bitcoin-native product development, ecosystem engagement and regional R&D. To further support ecosystem growth, Blockstream is offering incentives for startups and developers relocating to Lugano, including CHF 100,000 monetary grants, to build on Blockstream-developed technology, including the Liquid Network. First announced at the 2024 Plan ₿ Forum, these incentives reflect the company's commitment to making Switzerland a global epicenter for Bitcoin innovation. ' Acquiring Elysium gives us immediate access to talent, technology, and a fully operational presence in Switzerland, one of the world's leading financial centers, ' said Monette Stephens, VP Corporate Development. 'This strengthens our position to serve institutional clients and scale our Bitcoin infrastructure offerings across key markets. ' Elysium Lab brings a skilled team of professionals who will join Blockstream and contribute to Blockstream's broader mission of advancing Bitcoin infrastructure and financial innovation across the region. Founded in 2022 by Aron Clementi (CEO) and Gianmarco Guazzo (CTO), Elysium Lab quickly became a recognized player in Switzerland's Bitcoin landscape. ' Joining Blockstream allows us to contribute to a broader vision of Bitcoin-native infrastructure worldwide, alongside one of the industry's most respected names. As a Swiss founder, I'm proud to help carry forward our country's long-standing tradition of financial innovation,' said Aron Clementi, Co-Founder and CEO of Elysium Lab. ' We built Elysium to bring Bitcoin to the masses,' added Gianmarco Guazzo, Co-Founder and CTO. 'Becoming part of Blockstream lets us take that work further, and on a much larger scale with a team whose technical leadership and mission closely align with our own. ' As a result of the transaction, Blockstream has also acquired patents and intellectual property assets held by Elysium Lab. This strengthens Blockstream's position as a long-term ecosystem steward and signals its continued investment in Bitcoin-native research and innovation rooted in Europe. About Blockstream Founded in 2014, Blockstream is a global leader in Bitcoin and blockchain infrastructure, with offices and team members distributed around the world. Serving as the technology provider for the Liquid Network, Blockstream offers a sidechain solution that enables secure, trustless Bitcoin swap settlements and robust smart contracts, empowering financial institutions to tokenize assets efficiently. The company's Core Lightning is a leading implementation of the open Lightning Network protocol, widely adopted for enterprise Bitcoin Lightning Network deployments. Blockstream Jade, an open-source hardware wallet, delivers advanced security for Bitcoin and Liquid assets in an easy-to-use form factor. For consumers, the Blockstream App is a highly secure and user-friendly Bitcoin wallet. About Elysium Lab Elysium Lab is a Swiss digital asset company founded by Aron Clementi and Gianmarco Guazzo, two entrepreneurs at the forefront of Bitcoin usability and keyless authentication. Based in Lugano, the company is part of the Lugano Plan ₿ initiative and USI Startup Centre, reflecting Switzerland's growing leadership in Bitcoin infrastructure.
Bloomberg
15-07-2025
- Business
- Bloomberg
Cantor Preps Second Bitcoin Treasury Company With 25,000 Tokens
An investment vehicle backed by Cantor Fitzgerald is working with Bitcoin pioneer Adam Back on a new treasury company in what would be the second such deal for the investment bank. Blockchain infrastructure provider Blockstream Corp., where Back is a co-founder and its chief executive officer, is in talks to contribute around 25,000 Bitcoin — worth $3 billion at current prices — to the new company, according to people familiar with the conversations who asked not to be named discussing confidential plans.
Economic Times
16-06-2025
- Business
- Economic Times
Cryptocurrency Live News & Updates : Optalysys Launches Innovative Blockchain Server
17 Jun 2025 | 01:55:10 AM IST Optalysys has unveiled a groundbreaking server for blockchains that processes data securely without decryption, using 40% less energy than traditional GPU systems. In recent developments, Optalysys has introduced the LightLocker node, touted as the world's first server designed for blockchain applications that utilizes Fully Homomorphic Encryption (FHE). This innovation promises to enhance secure computing while significantly reducing energy consumption. Meanwhile, H100 Group is making strides in the cryptocurrency space, aiming to raise up to $79 million to bolster its bitcoin investment strategy, with Blockstream CEO Adam Back already contributing $15 million. In a notable shift, JPMorgan Chase has filed a trademark for its crypto platform, JPMD, indicating a deeper commitment to digital assets, despite CEO Jamie Dimon's previous skepticism. Additionally, Binance is actively engaging its community with the launch of its 24th Exclusive Token Generation Event featuring Bombie (BOMB) and a new two-phase claiming system for its Alpha Airdrops, set to begin on June 19, 2025. These developments reflect a growing trend of traditional finance embracing cryptocurrency, while innovative startups continue to push the boundaries of blockchain technology. Show more
