Tom Lee's Bitmine to offer preferred stock with 9.5% dividend, seeking to raise $300 million

The largest Ethereum treasury firm is taking a page from Michael Saylor's Strategy to issue preferred shares to tap new sources of funding.

source https://www.coindesk.com/business/2026/06/03/tom-lee-s-bitmine-to-offer-preferred-stock-with-9-5-dividend-seeking-to-raise-usd300-million

Bitmine's Ethereum bet nears $9 billion loss as ether falls below $1,800

Shares of Tom Lee's Ethereum treasury firm hit their lowest level since the company's crypto pivot as ETH revisits the February lows.

source https://www.coindesk.com/markets/2026/06/03/bitmine-s-ethereum-bet-nears-usd9-billion-loss-as-ether-falls-below-usd1-800

Bitcoin isn't crashing because of Saylor, it's losing the momentum trade

Bitcoin's recent weakness reflects a broader rotation into AI, IPOs and other momentum trades rather than concerns about Michael Saylor's bitcoin sales, according to Charles Schwab's Jim Ferraioli.

source https://www.coindesk.com/markets/2026/06/03/bitcoin-isn-t-crashing-because-of-saylor-it-s-losing-the-momentum-trade

Coinbase backs Ethena ahead of savings product launch for exchange's 100 million users

Coinbase Ventures, the exchange's venture arm, bought Ethena tokens on the open market as the protocol is set to roll out a Coinbase integration next week.

source https://www.coindesk.com/business/2026/06/02/coinbase-backs-ethena-ahead-of-savings-product-launch-for-exchange-s-100-million-users

Bitcoin set for 'choppy summer' as capital chases high-flying AI stocks, K33 says

The firm still views bitcoin as undervalued relative to equities, but says investors are rotating into AI stocks as the opportunity cost of missing gains by holding BTC is too high.

source https://www.coindesk.com/markets/2026/06/02/bitcoin-set-for-choppy-summer-as-capital-chases-high-flying-ai-stocks-k33-says

Mt. Gox moves 10,422 bitcoin worth $739 million to a new wallet as deadline nears

The 04:47 UTC Bitcoin block 952,072 transaction moved coins from Mt. Gox cold storage into a freshly generated address, with a smaller 116-bitcoin slice routed to the defunct exchange's hot wallet.

source https://www.coindesk.com/markets/2026/06/02/mt-gox-moves-10-422-bitcoin-worth-usd739-million-to-a-new-wallet-as-deadline-nears

Strategy sold bitcoin in late May, and told the market in June. Here's how Polymarket bettors are fighting over when it counts.

A $79 million market hinges not on whether Michael Saylor's firm sold bitcoin, but on whether a sale disclosed June 1 can count toward a deadline that passed May 31.

source https://www.coindesk.com/markets/2026/06/02/strategy-sold-bitcoin-in-late-may-and-told-the-market-in-june-here-s-how-polymarket-bettors-are-fighting-over-when-it-counts