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Sage D. Young

Trident Digital Tech Holdings plummets following announcement of $500 million fundraise for an XRP treasury

Singapore-based Trident Digital Tech Holdings is the latest player to take up the XRP-focused treasury playbook, joining Chinese firm Webus and energy company VivoPower.

On Thursday, the firm announced an initiative to raise about $500 million to create a large-scale corporate treasury composed of XRP, the fourth-largest cryptocurrency by market capitalization, at roughly $132 billion. 

Shares of Trident Digital Tech Holdings have dropped nearly 38% on the news.

“The initiative will focus on the acquisition of XRP tokens as long-term strategic reserves, the deployment of staking mechanisms to generate yield, and deep engagement within the Ripple ecosystem,” the press release said, adding that the capital raise will be a combination of equity issuance, strategic placements, and structured financing instruments.

The price of XRP has dropped 3.4% in the last 24 hours, but has jumped over 350% in the past year.

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Bitcoin rebounds but FOMC will set tone for Santa rally

Bitcoin symbol
crypto
Sage D. Young

New bitcoin AfterDark ETF will be bitcoin at night, Treasurys by day

Tidal Trust II submitted form N-1A with the SEC to register a bitcoin ETF designed to systemically capture the cryptocurrency’s overnight return profile, a time window that delivered a significant portion of bitcoin’s upside last year.

The Nicholas Bitcoin and Treasuries AfterDark ETF provides long bitcoin exposure during US overnight hours, from the closing bell until the following morning’s market open, when the fund intends to unwind its positions, according to a document filed with the SEC on Tuesday. 

To gain that exposure, the ETF may use a number of methods, including bitcoin futures contracts, US-listed ETFs, or exchange-traded options on such bitcoin underlying funds. When the market is open and daytime trading is active, the fund’s portfolio will consist of US Treasury securities and other cash equivalents. 

In 2024, most of bitcoin’s gains occurred after-hours, senior Bloomberg ETF analyst Eric Balchunas reported:

The AfterDark ETF filing comes as bitcoin crossed $94,000 on Tuesday, rising 4.5% in the last 24 hours. Even though spot bitcoin ETFs saw nearly $60.5 million in outflows on Monday, the investment vehicles have a cumulative net inflow of $57.6 billion, per SoSoValue.

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12/8/25
Bitcoin will “snapback or chop ahead of the Fed” decision

Traders on prediction markets are divided, giving an equal chance that bitcoin drops below $80,000 or rises above $100,000 this year.

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Yaël Bizouati-Kennedy
12/2/25
Legendary short seller James Chanos on the problem with Strategy’s business model

The noise has grown louder about Strategy being in trouble, but most experts think Strategy can weather the current bitcoin downturn, though one critic predicts this is “the beginning of the end.”

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Sage D. Young
12/1/25
Ethereum spot ETFs post highest monthly outflow of $1.4 billion in November, breaking seven-month streak

Meanwhile, ethereum developers are preparing for the activation of Fusaka, the next network upgrade.

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