🌊July 8th: Acquisitions, Collapse, and Mergers in the Crypto Space
Here's a quick rundown of some key events from July 8th in the crypto world:
1. #DEFİ Development Boosts $SOL Reserves
DeFi Development has significantly increased its Solana (SOL) holdings, acquiring 47,272 SOL worth approximately $7.03 million. This brings their total SOL assets to 690,420 SOL, valued at around $102.7 million. Their strategy involves long-term storage and staking through their own validators. Currently, their SOL per share (SPS) stands at 0.0397 SPS, equivalent to about $5.90.
2. Linqto, a Ripple Shareholder, Declares Bankruptcy
Linqto, a company holding 4.7 million shares of Ripple, has filed for Chapter 11 bankruptcy. It's important to note that Ripple has no business connection with Linqto. An investigation revealed that Linqto's clients only owned fractional interests in special purpose vehicles (SPVs), not direct Ripple shares. Former management is now being accused of overstating Ripple's share value by 60%.
3. #OpenSea Acquires Rally Wallet
OpenSea has acquired Rally Wallet with the goal of strengthening its mobile presence and expanding token trading capabilities. Rally is a mobile Web3 wallet known for its user experience (UX). OpenSea already supports token trading on 19 blockchains, and this integration is expected to enhance their ability to work with tokenized assets and gamified features.