It was a defining week for digital assets, headlined by BitGo pricing its IPO at $18 a share for a valuation just over $2 billion. Meanwhile, the New York Stock Exchange announced a new platform for tokenized securities, and Blockspace officially acquired data aggregation site Bitcoin Layers. The week also saw significant venture activity with Zebedee raising a Series C, contrasting sharply with the shutdown of decentralized social protocol Farcaster.
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BitGo prices IPO at $18 per share
BitGo priced its shares at $18 for its initial public offering, securing a valuation of approximately $2.1 billion. Founded in 2013, the custody firm is best known for Wrapped Bitcoin and its role in the DeFi summer. The listing marks a rare IPO for a pure-play crypto custody business, distinguishing itself from the SPACs and reverse mergers of previous cycles.
NYSE unveils tokenized trading platform
The New York Stock Exchange announced the development of a platform for trading and on-chain settlement of tokenized securities. The new digital platform will enable 24/7 operations, instant settlement, and stablecoin-based funding. This move signals a major shift as traditional financial incumbents begin to cannibalize infrastructure previously built by crypto-native startups.
Blockspace acquires Bitcoin Layers
Blockspace purchased Bitcoin Layers, a data aggregation site known for tracking and analyzing Bitcoin Layer 2 networks like Lightning and Liquid. The acquisition will support the rollout of new data products focusing on the Bitcoin L2 landscape. Blockspace also announced the return of the OPNEXT conference, scheduled for April 16 in New York City.
Inflows surge and ZBD raises capital
Digital asset products saw $2.17 billion in inflows last week, the largest since October, signaling a resurgence in institutional interest. In the private markets, ZBD raised a $40 million Series C to expand its payment infrastructure.
OpenAI and Microsoft address power costs
OpenAI and Microsoft (NASDAQ: MSFT) pledged to cover energy infrastructure costs for their Stargate AI campuses to avoid raising rates for residents. The companies stated they would fund new generation and transmission upgrades required by their facilities. Meanwhile, Saudi Arabia’s National Infrastructure Fund announced a $1.2 billion agreement to support AI infrastructure expansion in the region.
Coinbase forms quantum advisory board
Coinbase (NASDAQ: COIN) established an advisory board focused on quantum computing and blockchain, hiring experts to assess long-term cryptographic risks. The move comes as investors increasingly question the potential threat quantum computing poses to Bitcoin security.
Farcaster founders step down
Farcaster founder Dan Romero announced he is stepping back as the service provider for the struggling social app. Despite raising $150 million from backers like Paradigm and Andreessen Horowitz, the platform struggled to sustain growth. The exit of the founding team marks a significant blow to the Ethereum-based decentralized social media narrative.
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