MicroStrategy Boosts $2B Raise to Buy More Bitcoin

Christie’s Real Estate Launches Dedicated Crypto Division After $65 Million Deal, Citing Surging Demand

Christie’s International Real Estate has launched a dedicated division to handle property transactions conducted entirely in cryptocurrency, becoming the first major U.S. luxury brokerage to do so. Spearheaded by Aaron Kirman, CEO of Christie’s Southern California office, the move follows several high-value crypto-based deals, including a $65 million Beverly Hills property sale. The new division includes legal, analytical, and crypto experts to facilitate digital-only transactions without traditional banks. The launch coincides with growing institutional support for crypto, including recent pro-crypto legislation such as the Genius Act and the Clarity Act passed by Congress.

Whales Withdraw $1.7 Billion in $ETH From Aave, Triggering 10% Borrow Rates and Record Unstaking Queue

Over the past week, decentralized finance (DeFi) whales have withdrawn $1.7 billion worth of Ethereum from lending protocol Aave, causing available liquidity to plunge and sending borrowing rates temporarily above 10%. This sudden spike disrupted looping strategies—where users repeatedly borrow and lend to boost staking yields—leading many to unwind positions. The result was a record-high 627,944 ETH ($2.3 billion) in the exit queue for unstaking. The withdrawals were largely attributed to wallets linked to Justin Sun and crypto exchange HTX, with Sun alone believed to have pulled out over $646 million. The event highlights how the actions of a few large players can ripple across the DeFi ecosystem, impacting rates, staking flows, and user strategies.

Ji Hun Kim Named CEO of Crypto Council for Innovation Amid US Regulatory Push, Replacing Sheila Warren

Ji Hun Kim, a former legal executive at Gemini and Kraken, has been appointed permanent CEO of the Crypto Council for Innovation (CCI) after serving in an interim role since January. Kim previously served as CCI’s chief legal and policy officer and emphasized the need for informed public policy engagement in a rapidly evolving crypto landscape. He succeeds Sheila Warren, who stepped down shortly before the Trump administration took office. The announcement comes as U.S. lawmakers ramp up digital asset regulation, with the House recently passing key bills on stablecoins, CBDCs, and market structure. The Senate is expected to take up the remaining legislation after its August recess.

MicroStrategy Expands STRC Preferred Stock Offering to $2 Billion to Boost Bitcoin Holdings

MicroStrategy has increased its preferred stock offering STRC from $500 million to $2 billion. Initially planned at $100 per share, the offering is now expected to price at $90. The STRC shares, nicknamed “stretch,” carry a 9% dividend and are designed to attract yield-seeking investors. The expanded raise gives the firm additional capital to continue purchasing Bitcoin. MicroStrategy, led by Michael Saylor, is the largest corporate holder of BTC, currently owning over 607,000 coins valued at approximately $72 billion.