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The BitGo NYDIG deal puts roughly $42.5 million upfront against NYDIG’s claimed 3+ GW power-and-compute footprint, with profitability unproven on both sides.
itGo's NYDIG deal transfers its institutional trading business to the digital-asset custody and trading infrastructure provider, while NYDIG says it is concentrating resources on power, Bitcoin mining and high-performance-computing data centers.
The closing terms disclosed by BitGo put roughly $42.5 million of consideration upfront. BitGo is adding an institutional team, client relationships and financial products around its custody and settlement platform. NYDIG is directing attention toward a company-described power-and-compute footprint exceeding 3 GW.
The deal makes each company’s resource allocation clear while leaving the margin comparison unresolved. BitGo’s filings show that very large digital-asset sales can carry a thin gross spread. NYDIG describes a large infrastructure footprint without disclosing the returns attached to it. The useful comparison is between the proof points each side must deliver.
The merger agreement defines the acquired business as spot and derivatives trading, virtual-currency asset management, borrowing and lending, and loan servicing. It explicitly excludes NYDIG’s Bitcoin mining and custody businesses, keeping the power-and-compute footprint outside BitGo’s purchase.
Approximately 30 NYDIG employees and institutional client trading relationships joined BitGo, according to the deal announcement. The team adds derivatives, structured products, financing and capital-markets capabilities to a platform that already offers institutional custody, trading and settlement.
The upfront consideration consists of $7 million in cash, subject to holdback and adjustments, plus 5,933,577 BitGo shares. The agreement uses a $5.9829 reference price, which values those closing shares at about $35.5 million and brings the disclosed upfront amount to roughly $42.5 million before cash adjustments.
The seller can receive more. A first earn-out pays $10 million in cash. A second provides $5 million in cash plus 835,715 BitGo shares, worth roughly another $5 million at the agreement reference price. Separate awards targeting $10 million are intended for transferred employees rather than the seller, so they sit outside the seller’s purchase price.
The current transaction covers only institutional trading and related assets. Mining and custody are excluded from the agreement, supporting a shift in priority rather than a clean exit from every Bitcoin financial-infrastructure activity.
That leaves NYDIG with a different and more capital-intensive scorecard. It must turn claimed footprint into financed, contracted and operating capacity, then show what tenants pay, how fully facilities are used and what returns remain after construction and financing. A gigawatt figure indicates potential scale while leaving the cash flow from that scale unknown.
BitGo’s scorecard is closer to the income statement. The acquired unit must retain institutional relationships, reach the $45 million and $70 million revenue hurdles and turn a broader service stack into profit. Later filings can show whether those products deliver better economics than the company’s existing Digital Asset Sales activity.
The BitGo NYDIG deal identifies two bets and two pending scorecards. BitGo has disclosed the price and revenue tests for adding more financial services. NYDIG has disclosed the size of its infrastructure ambition and a delivery window. Target margins and NYDIG project returns will decide the durable-margin comparison as those figures become visible.
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Circle becomes Chelsea's principal and front-of-shirt partner for 2026/27, putting USDC branding on the men's, women's and academy kits.
helsea Football Club has named Circle Internet Group as its principal and official front-of-shirt partner for the 2026/27 season, putting USDC on the club's kits as the stablecoin company seeks a larger mainstream audience.
The deal announced by Chelsea covers the men's, women's and academy shirts. Circle and USDC branding is scheduled to appear for the first time on Aug. 30, when Chelsea's men's team plays its first Premier League home game of the season against Brighton.
USDC is far more prominent in sponsorship placement than Circle itself. The partnership announcement frames the Chelsea shirt as a way to place that product name before the club's international football audience.
The agreement gives Circle the club's “principal partner designation” and the central sponsor position on three sets of Chelsea shirts, covering the senior men's and women's teams as well as academy shirts for the 2026/27 season.
For Circle, the obvious value is brand exposure. The company is placing both its corporate name and the USDC label on the most prominent sponsor space on Chelsea's shirts, connecting a financial technology company and its stablecoin with a sports audience that may not encounter either through crypto trading or blockchain applications.
Further, Chelsea have been without a shirt sponsor for some time and have played extended periods as the only team in the Premier League without a main sponsor on the front of their kits. As a result, there's some additional brand awareness from rival fans who are paying attention to the sponsorship saga at Stamford Bridge.
Notably, the announcement does not include a Chelsea payment product, nor does it say supporters will use USDC to buy tickets, merchandise or services. The partnership could expand over time, but the initial arrangement described by both parties is a sponsorship built around brand placement.
That wording matters because the shirt gives USDC broad public visibility without turning the sponsorship itself into an offer of a crypto product. It separates the marketing message, which presents USDC as digital money for a global audience, from any claim that Chelsea is distributing the stablecoin or offering financial services.
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CEO Paul Prager said the 20-year lease reflects surging demand for AI computing and validates TeraWulf's strategy of owning power, land and operations.
Prager said the Kentucky project won Anthropic through a competitive bidding process centered on access to grid power and long-term infrastructure.
The contract is valued at roughly $19 billion over its life, exceeding TeraWulf's current market capitalization, according to the interview.
Prager said TeraWulf already works with Anthropic and Google at its Lake Mariner campus in New York, giving the companies an established relationship.
Prager was interviewed by Jennifer Sanasie on CoinDesk's Public Keys at the New York Stock Exchan
TeraWulf is shedding non-core assets to focus capital on AI data centers it fully controls.
Prager said the company's sale of its interest in the Abernathy project reflects a disciplined capital allocation strategy rather than a change in AI ambitions.
He said TeraWulf earned a strong return on the sale and plans to reinvest the proceeds into wholly owned AI infrastructure projects, including additional sites in eastern Kentucky.
Prager said owning the site, power supply and operations gives TeraWulf greater control over customer relationships and long-term return
Prager argued the AI infrastructure boom is constrained by power quality rather than available land.
He said the U.S. faces a shortage of electricity and warned investors that "not all megawatts are created equally."
Prager said successful AI campuses require reliable generation, redundant transmission, favorable regulation and strong community relationships.
He added that TeraWulf focuses on redeveloping former industrial sites and, where needed, adding new power generation to support both AI facilities and the broader electric gri
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Quantum fears focus on vulnerable early wallets, but market data suggests even a worst case sell-off would be large, not catastrophic.
Quantum doomsayers warn that this would unleash a flood of supply and crash the market. The numbers suggest otherwise.
The threat of quantum computing is not in question.
Roughly 1.7 million BTC sit in Satoshi-era addresses that could be vulnerable under such a scenario. That is about $145 billion at current prices in potential sell pressure, which sounds catastrophic, but is in fact manageable.
During bull markets, long-term holders (investors that have held bitcoin for at least 155 days) routinely distribute between 10,000 and 30,000 BTC per day. At that pace, the entire Satoshi-era supply equates to roughly two to three months of typical profit taking. In the most recent bear market, more than 2.3 million BTC changed hands in a single quarter, exceeding the full quantum “target,” with no systemic collapse.
In addition, monthly exchange inflows approach 850,000 BTC. Derivatives markets cycle through notional volumes equivalent to the entire Satoshi stash every few days. What appears massive in isolation becomes relatively ordinary when set against bitcoin’s existing liquidity and turnover
A sudden, concentrated release would still matter. It would likely drive volatility and could trigger a prolonged downturn, according to Check. But even that scenario assumes economically irrational behavior. Any actor capable of accessing such a trove would be incentivized to distribute gradually, likely hedging through derivatives to minimize slippage and maximize returns.
Bitcoin markets routinely absorb supply on the same order of magnitude as the P2PK era coins. The timeframe is measured in months, not years.
The real issue is not mechanical sell pressure. It is governance. The bigger issue is potentially freezing the Satoshi coins, through BIP-361, then letting everything play out as it should.
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The trade policies of the Trump administration have hurt the standing of the U.S. debt around the world, principally with heavy treasury holders like China that have been directly affected by these measures. According to recent data published by the U.S. Treasury, Chinese holdings of U.S. treasuries fell to a new low since 2009, with the Chinese government reducing its exposure by nearly $1 billion from the number reported in April.
While this might not be seen as a significant drop by some analysts, others claim that it signals a new direction in the Chinese policy towards acquiring American foreign debt, amidst the dangers of retaliation if trade negotiations go south.
In March, China reduced its exposure to the U.S. debt by nearly $19 billion, falling to the third place among the top holders of treasuries behind Japan and the U.K., while it sold $8.2 billion of its American debt stash in April
Despite the continued selling and ongoing trade tensions between the two nations, China still holds $756.3 billion in U.S. securities, which contradicts the theory that the Chinese government is weaponizing these assets.
Nonetheless, the offloading moves echo the recommendations of Chinese analysts about diversifying the exposure from these potentially risky assets to less troubled commodities, including safe havens like gold and other metals.
The U.S. government’s measures have driven debt holders worldwide to adjust their exposures, driving a substitution of international investors for local buyers. While foreign buyers held 57% of the treasury issuance in 2008, this number has fallen to 32%, signaling potential trust issues in the proficiency of the current administration in dealing with the spiraling debt issue.
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LONDON/MILAN, April 24 (Reuters) - (This April 24 story was refiled to remove an extra word from the advisory)
French automotive group Cosmobilis is in talks to buy the commercial rights to the World ​Rally Championship (WRC), two people familiar with the matter told Reuters.
Cosmobilis moved ahead ‌after an auction for Munich-based WRC Promoter was held by existing rights holders Red Bull and German investment firm KW25 earlier this year, the people said.
If negotiations and financing are concluded successfully, ​a deal could be announced in the summer, one person said.
The sources, ​who asked not to be named because the matter is confidential, ⁠said there remained a chance of no deal.
A Cosmobilis spokesperson declined to comment. ​WRC, Red Bull and KW25 did not reply to requests for comment
The likely price ​for WRC Promoter is expected to be less than 500 million euros ($585 million), one person said.
Eric Boullier, co-founder and CEO of Cosmobilis' Circle unit, is leading the bid, the people said. Boullier, ​who did not respond to requests for comment, was previously Lotus Formula One -- now ​Renault-owned Alpine -- principal and was racing director of McLaren from 2014 to 2018.
Motorsport's governing body, the ‌International ⁠Automobile Federation (FIA), announced last year a tender process to replace Red Bull and German investment company KW25 as commercial rights holders of the World Rally Championship after Reuters reported preparations for a sale.
The FIA is committed to ensuring ​the WRC continues to grow as one of the world's premier ​motor sport ⁠disciplines, and we are confident the outcome of this process will reflect that ambition.”
The WRC races on four different continents with 14 rounds this year. Its reigning champion ⁠is France's ​Sebastien Ogier. Since 2022, WRC Promoter has also ​organised the European Championship and the Rallycross Championship.
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The U.S. Department of Justice [DOJ] plans to dismiss its criminal case against Matthew Goettsche, the alleged founder of the BitClub Network cryptocurrency investment scheme, Bloomberg Law reported. This could potentially bring one of the longest-running crypto fraud prosecutions to an end.
The reported move comes nearly seven years after federal prosecutors accused Goettsche and several co-defendants of operating a global cryptocurrency mining scheme that allegedly defrauded investors of at least $722 million.
While the DOJ is reportedly preparing to dismiss the case with prejudice, no dismissal motion had appeared on the public court docket at the time of writing.
Bloomberg Law reported that the DOJ has instructed prosecutors in New Jersey to dismiss the charges against Goettsche with prejudice. This means the case could not be refiled if the court approves the request.
The report also said Goettsche’s lawyers informed the court on July 8 that they had reached “an agreement in principle to resolve the pending charges.” A DOJ spokesperson told Bloomberg that the department routinely reviews long-running prosecutions and noted that the case has been pending for seven years.
The spokesperson also said the government is recovering a substantial amount for victims and denied that lobbying efforts influenced the decision.
Federal prosecutors unsealed the BitClub Network indictment in December 2019. It is alleged that Goettsche created and operated a fraudulent cryptocurrency mining investment scheme that collected at least $722 million from investors worldwide.
Prosecutors alleged that the defendants manipulated the mining earnings they displayed to investors while using new participant funds to sustain the operation.
The indictment also included internal messages in which prosecutors alleged members of the scheme discussed inflating mining figures.
They also referred to prospective investors using derogatory terms, arguing that the communications demonstrated knowledge that the business was operating fraudulently.
He agreed to plead guilty to conspiracy to commit money laundering and tax-related offenses arising from his role in laundering BitClub proceeds and assisting with false tax returns.
The reported move, therefore, appears limited to Goettsche’s prosecution rather than signaling the end of all enforcement actions stemming from the BitClub investigation.
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