🚀 $740M Bitcoin Bet: Strategy Doubles Down as Trump Media Stocks $2B Treasury & CoinDCX Launches Bounty | Crypto Weekly Wrap

Wall Street's latest crypto play just went all-in—throwing another $740 million at Bitcoin like it's Monopoly money. Meanwhile, Trump Media's sitting on a $2 billion war chest (because nothing says 'stable investment' like politics meets crypto).

CoinDCX turns white-hat hacker with a bounty program—because what's decentralized finance without a little chaos?

Bullish? Reckless? Either way, the suits are finally playing our game. Just don't ask them to explain a memecoin.

Strategy extends Bitcoin purchasing spree

• The company purchased 6,220 Bitcoin (BTC) for $739.8 million between July 14-20 for an average price of $118,940 per coin.
• This transaction elevates Strategy’s total cryptocurrency reserves to 607,770 BTC.
• Separately, the Bitcoin treasury company expanded its STRC preferred stock issuance from the original $500 million plan to $2 billion, according to Bloomberg. The adjustment represents a fourfold increase from the initial proposal of 5 million shares at $100 each announced earlier this week.

CoinDCX launches $11 million recovery bounty

• India’s prominent cryptocurrency exchange CoinDCX will provide up to 25% of recovered assets, capped at $11 million, for assistance tracing stolen funds from Friday’s cyberattack.
• The breach resulted in a $44 million loss from operational accounts, prompting the exchange to implement an incentivized recovery mechanism.

Trump Media allocates $2 billion to Bitcoin treasury

• Trump Media purchased $2 billion worth of Bitcoin and related securities for corporate treasury purposes.
• Bitcoin holdings now comprise the majority portion of Trump Media’s $3 billion liquid asset portfolio.

Ark Invest divests significant Coinbase stake

• Cathie Wood’s investment firm sold 218,986 Coinbase shares worth approximately $90.58 million across three exchange-traded funds on Monday.
• The divestiture occurred through ARKK (174,746 shares), ARKW (27,663 shares), and ARKF (16,577 shares) within the same trading session.

Telegram introduces US crypto wallet through MoonPay

• The messaging platform launched noncustodial cryptocurrency wallet functionality for American users via collaboration with payment processor MoonPay.
• This integration allows the platform users to transmit and manage digital assets directly within the messaging application interface.

FTX schedules creditor distribution

• The bankrupt exchange announced that the next creditor claim batch will commence distribution on September 30, with August 15 established as the record date.
• Bankruptcy court approval reduced the claims reserve from $6.5 billion to $4.3 billion, releasing an additional $1.9 billion for upcoming disbursement.

India intensifies cryptocurrency tax enforcement

• Tax authorities are implementing artificial intelligence systems and international data-sharing agreements to combat digital asset tax evasion efforts.
• Central Board of Direct Taxes Chairman Ravi Agrawal indicated improved data analytics and cross-border information exchange will target crypto tax avoidance.
• Officials warned that cryptocurrency transactions can no longer evade detection through traditional financial privacy methods.

JPMorgan halts Gemini onboarding

• Tyler Winklevoss claimed the banking giant suspended Gemini’s account opening process after he criticized new fintech fee structures publicly.
• The dispute arose following Winklevoss’s criticism of CEO Jamie Dimon regarding Bloomberg-reported charges for fintech platforms accessing customer banking data.

Prosecutors consider Dragonfly Capital charges

• Assistant U.S. Attorney Thane Rehn revealed Friday that authorities are evaluating potential charges against Dragonfly Capital’s Tom Schmidt and associates.
• The investigation focuses on their investment activities related to Tornado Cash developer funding during Roman Storm’s ongoing criminal trial.