The Block
TeraWulf has sold a 25% stake in the Nautilus Cryptomine joint venture to a subsidiary of Talen Energy Corporation for approximately $92 million.The bitcoin miner intends to reinvest the capital into construction at its Lake Mariner facility in New York, which focuses on hosting HPC/AI data centers.
Quick Take Michael Gilroy, former head of fintech at the crypto-friendly investment firm Coatue Management, is co-founding a new venture firm. The firm aims to raise up to $500 million for its first fund, but fundraising won’t formally begin until 2025.
The International Monetary Fund urged El Salvador to narrow the scope of its bitcoin law and limit the public sector’s exposure to bitcoin.The IMF said it seeks to reach an agreement with Salvadoran authorities on a program for macroeconomic stabilization and growth reforms.
Quick Take Hyperliquid currently leads in trading volume among decentralized perpetual swap platforms. It recorded $1.39 billion in daily trading volume yesterday, surpassing competitors like Jupiter, SynFutures, and dYdX.
Quick Take U.S. spot bitcoin ETFs saw $54.13 million in net outflows on Thursday, led by outflows of $57.97 million from Ark and 21Shares’ ARKB. Spot Ethereum ETFs reported daily net outflows of $3.20 million.
Quick Take “Prediction markets work better, they really do,” Kalshi CEO Tarek Mansour said in an interview with The Block. Kalshi notched a major win this week after an appeals court cleared the predictions market to list election betting.
Quick Take Chainalysis co-founder and CEO Michael Gronager has stepped back from his leadership role at the company. Sari Granat, Chainalysis’ president and chief operating officer, is serving as interim CEO.
Quick Take An upcoming HBO documentary “Money Electric” aims to reveal the true identity of the pseudonymous creator of Bitcoin. Galaxy Digital’s Head of Research said he heard the HBO doc claims the true identity of Nakamoto is Len Sassaman.
Quick Take Solana surged 11% on Thursday to reach a new all-time high above $263 by the end of the day amid a broader market rally fueled by Donald Trump’s election victory, sparking optimism about a more crypto-friendly U.S. administration. XRP has had one of the strongest crypto rallies over the past 24 hours, surging 32% to around $1.47 — reaching its highest price since May 2021. Ethereum futures open interest jumped 12% to a fresh high of $20.8 billion on Friday, signaling short-term bullish momentum
Quick Take Jaime Lizárraga, one of three Democratic commissioners at the SEC, said he let President Joe Biden know of his plans to leave. Lizárraga’s announcement comes a day after SEC Chair Gary Gensler said he also plans to step down in January.
