Polygon Labs Appoints Former Stripe Crypto Lead as Chief Product Officer
On September 15th, as per Fortune, John Egan, who previously served as the crypto lead at Stripe, announced his joining of Polygon Labs as the Chief Product Officer. His focus will be on enhancing the payment experience within the Polygon ecosystem. Egan had previously led Stripe's acquisitions of the stablecoin company Bridge ($1.1 billion) and the crypto wallet company Privy, and had driven the development of the in-house blockchain Tempo. In July, the circulation of Polygon's stablecoin reached $29 billion, with more than 4.5 million active addresses, outperforming Ethereum during the same period. Egan expressed optimism regarding Polygon's application in the stablecoin micro-payment field.
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A $500 Million Funded New 'SOL Treasury Company' Helius (HSDT) Soars 270% in Pre-market, Market Cap Only $8.14 Million
On September 15th, based on market data, Helius (HSDT), a US-listed company that just announced its transformation into a SOL treasury company, saw a 270% surge in pre-market trading. It is noteworthy that the company's closing price on the previous trading day was only $7.56, with a market capitalization of just $8.14 million.
BlockBeats previously reported that Helius Medical Technologies (Nasdaq: HSDT) announced a significant strategic transformation, becoming a SOL treasury company through a private investment of over $500 million. This PIPE (Private Investment in Public Equity) led by Pantera Capital and Summer Capital was oversubscribed, including the sale of common stock at $6.881 per share and warrants attached at $10.134 per share. If all warrants are exercised, there is the potential to raise over $1.25 billion.
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U.S. publicly traded company Helius completes $500 million private financing to transform into SOL Treasury Co., with Pantera Capital and Summer Capital leading the investment
On September 15th, according to stocktitan, Helius Medical Technologies (NASDAQ: HSDT) made a significant strategic transformation and transitioned into a SOL Treasury company through a more than $500 million private investment. This PIPE (Private Investment in Public Equity), which was led by Pantera Capital and Summer Capital, was oversubscribed. It involved the sale of common stock at $6.881 per share and accompanying warrants at $10.134 per unit. When all warrants are exercised, it has the potential to raise more than $1.25 billion.
The company will use the raised funds to implement a digital asset treasury strategy, focusing on acquiring Solana's native cryptocurrency SOL as its primary reserve asset. This initiative takes advantage of Solana's position as the fastest-growing blockchain.
The transaction is expected to be completed around September 18, 2025. The
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Trump: Companies Should No Longer Be Required to Issue Quarterly Reports
On September 15th, Trump made a post on Truth Social, saying: "After obtaining the approval of the U.S. Securities and Exchange Commission (SEC), companies should no longer be compelled to present these quarterly reports. Instead, they should switch to reporting every six months. This will lead to cost savings and enable management to concentrate on running the company in an appropriate manner." (Financial Times)
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Saison Capital has established the Onigiri Capital blockchain-focused investment fund, with an initial target size of $50 million.
On September 15th, as reported by techinasia, Saison Capital, the venture capital branch of Japan's Credit Saison, announced the creation of an investment fund centered around blockchain called Onigiri Capital. The initial target size of this fund is $50 million.
The fund has currently secured $35 million in committed funds and will mainly focus on investing in early-stage startups that are developing real-world asset (RWA) solutions such as stablecoins, payments, asset tokenization, DeFi, and financial market infrastructure.
Onigiri Capital is jointly led by Qin En Looi and Hans de Back. Both of them have extensive experience in fintech and digital asset investment across Asia. The fund intends to utilize Credit Saison's network resources in Japan, South Korea, Singapore, Malaysia, Indonesia, and the Philippines to build a bridge between US startups and the Asian cryptocurrency community and financial institutions.
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