Daily News: PayPal Launches Crypto Payment Service, Nano Labs Boosts BNB Holdings to $108M, CEA Industries and 10X Capital Conduct $500M for BNB Treasury, and More

Market Update: US SEC Delays Review of Truth Social and Grayscale Cryptocurrency ETF Applications

The U.S. SEC announced a delay in its review decisions for two cryptocurrency ETF applications:

• Truth Social's spot Bitcoin ETF application

• Grayscale's spot Solana ETF application

Cboe Files Applications for Canary Staking INJ ETF and Invesco Galaxy Solana ETF

Cboe BZX Exchange has filed an application with the U.S. SEC for a new ETF that tracks the native asset INJ of the Injective blockchain. Canary Capital Group LLC will serve as the trust manager for this fund.On the same day, Cboe BZX also submitted an application for the Invesco Galaxy Solana ETF.

The SEC is currently reviewing dozens of digital asset fund proposals, including those covering cryptocurrencies such as DOGE, SOL, and XRP.

Arbitrum Foundation Allocates $14 Million for Ecosystem Project Security Audits

The Arbitrum Foundation has announced the launch of a cybersecurity audit subsidy program following approval of an ArbitrumDAO proposal, according to The Block. Over the next 12 months, the program will allocate 30 million ARB tokens (approximately $14 million) to fund security audits for blockchain projects built on the Arbitrum network.

The program targets two types of projects: early-stage initiatives with product-market fit and mature projects planning significant upgrades. Project teams are required to use security auditing firms from a pre-approved list, which will be released later this week.

PayPal Launches Cryptocurrency Payment Service, Enabling U.S. Merchants to Accept Over 100 Digital Currencies

PayPal has announced a new payment service for small and medium-sized merchants in the United States, allowing them to accept payments in over 100 cryptocurrencies, including Bitcoin and Ethereum.

The service will be provided through PayPal's online payment processing platform, with a transaction fee of 0.99% in the first year, increasing to 1.5% from the second year onward.

During transaction settlement, users can connect their existing cryptocurrency wallets to the payment page. The system will convert cryptocurrencies to PayPal's stablecoin, PYUSD, via Binance or decentralized exchanges, and then convert the funds into U.S. dollars to be paid to merchants.

Courtyard Completes $30 Million Series A Funding Round Led by Forerunner Ventures

New York-based collectibles tokenization platform Courtyard has successfully raised $30 million in a Series A funding round led by Forerunner Ventures, with participation from NEA and Y Combinator, according to Fortune.

Founded in 2021 by former YouTube employee Nicolas le Jeune and former Apple software engineer Paulin Andurand, Courtyard specializes in tokenizing physical collectibles such as Pokémon and sports cards into NFTs. The platform facilitates trading, custody, and redemption of these assets, and features vending machines for unboxing and instant buyback options.

Nano Labs Increases BNB Holdings to 128,000 Tokens, Strategic Reserve Exceeds $100 Million

U.S.-listed company Nano Labs (Nasdaq: NA) announced today that it has increased its BNB holdings to 128,000 tokens, valued at over $108 million based on the current market price of $850 per token.

The company recently acquired an additional 8,000 BNB tokens through over-the-counter transactions at an average price of $801 per token. Nano Labs' overall average holding cost stands at $713 per token.

U.S. Biopharmaceutical Firm Liminatus Pharma to Raise $500 Million for BNB Investments

Nasdaq-listed biopharmaceutical company Liminatus Pharma (NASDAQ: LIMN) announced today its plan to establish a subsidiary named "American BNB Strategy," aiming to raise and invest up to $500 million in Binance's native token BNB.

The company stated that this move is driven by the long-term growth potential and resilience of the BNB ecosystem, rather than short-term speculative interests.

CEA Industries and 10X Capital Conduct $500 Million Private Placement to Establish BNB Treasury

CEA Industries and 10X Capital have announced a $500 million private placement to establish a BNB treasury, with support from YZi Labs.

The two institutions have expanded the size of the PIPE issuance, attracting over 140 subscribers. In addition to YZi Labs, notable participating entities include Pantera Capital, Arche Capital, GSR, Borderless, Arrington Capital, Blockchain.com, Hypersphere Capital, and Kenetic.

Steel Searcher Group Partners with RD Holdings to Explore Stablecoin Applications

Steel Searcher Group (6676.HK) has signed a strategic cooperation agreement with RD Holdings (Round Coin Group) to jointly promote the "Steel Searcher" brand's involvement in building an international digital commodity trading platform. The partnership will also explore the use of Hong Kong dollar-pegged stablecoins, such as HKDR, for cross-border trade settlements.

RD Holdings is one of the first three companies to receive sandbox qualifications for stablecoin issuance under the supervision of the Hong Kong Monetary Authority (HKMA).

TRON INC Files $1 Billion Mixed Shelf Offering Application with SEC

TRON INC has submitted a mixed shelf offering application to the U.S. SEC, with a maximum issuance amount of $1 billion.

The mixed shelf offering allows the company to issue various types of securities, such as stocks, bonds, or warrants, under a single registration statement, providing flexibility in raising funds based on market conditions.