MARA drops following $850 fundraise announcement

Shares of bitcoin miner MARA Holdings tumbled this morning following its announcement that it plans to raise $850 million through a private sale of 0% convertible senior notes due in 2032. MARA will use the proceeds to partly acquire more bitcoin.

The stock was down more than 9% by midmorning.

MARA is the second-largest corporate bitcoin holder, with 50,000 bitcoin.

“MARA expects to use up to $50 million of the net proceeds from the sale of the notes to repurchase a portion of its existing 1.00% convertible senior notes due 2026,” the company said in the press release.

The remainder of the proceeds will be used to acquire additional bitcoin and for general corporate purposes, “which may include working capital, strategic acquisitions, expansion of existing assets, and repayment of additional debt and other outstanding obligations.”

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Ripple launches treasury platform to manage cash and cryptocurrencies

Ripple, the firm closely tied to the fifth-largest cryptocurrency, XRP, introduced a new treasury platform for digital asset and traditional cash management for users like financial officers, treasurers, and accountants.

Ripple’s move comes more than three months after it acquired treasury software provider GTreasury for $1 billion, one of several steps to grow the firm’s position in corporate finance.

Combining Ripple’s blockchain rails and GTreasury’s software, the new platform’s goal is to simplify treasury operations. It eliminates settlement delays with payment times of three to five seconds and optimizes yield from working capital 24/7 through tokenized money market funds such as BlackRock’s BUIDL and overnight secure repo markets with RLUSD, according to a Tuesday blog post.

Ripple Treasury also aims to provide “real-time cash positions, automated forecasting, and seamless reporting across traditional cash, digital assets, RLUSD, and XRP holdings,” the blog post stated.

Last year, Ripple filed its national banking license application with the US Office of the Comptroller of the Currency, while the firm’s subsidiary Standard Custody & Trust Company applied for a Federal Reserve master account, which would allow Ripple to hold RLUSD reserves directly with the Fed.

XRP has seen $2.4 billion in trading volume in the last 24 hours, increasing 1.8% in the period. The token’s all-time high was set in July 2025 at $3.65. Meanwhile, spot XRP ETFs had nearly $9.2 million worth of inflows on Tuesday, bringing cumulative inflows to $1.4 billion.

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