Here’s What Happened In Crypto Today

Today in crypto, Republic Technologies raised $100 million to build a substantial Ether treasury, CoinShares reported that crypto investment products experienced their largest outflow of funds since February amid an ongoing period of market panic, and Bitcoin briefly slumped to its lowest price year-to-date as the crypto market pulls back.

Republic Technologies secures $100 million for Ether purchase

Republic Technologies — formerly Beyond Medical Technologies — has secured a $100 million convertible note facility to build a substantial Ether (ETH) treasury, using financial terms the company said are unique in the digital asset sector.

The facility carries a 0% interest rate, requires no ongoing interest payments and includes no collateral requirements if the price of Ether declines. Republic emphasized that the raise limits dilution, contrasting it with BitMine Immersion’s recent $365 million financing, which included warrant coverage and resulted in shareholder dilution.

Republic Technologies plans to deploy the capital to expand its Ether treasury strategy, joining at least 18 other publicly traded companies pursuing similar approaches, according to industry data.

Crypto ETPs see biggest weekly outflows since February as investors pull $2 billion

Crypto investment products logged their largest weekly outflows since February, shedding $2 billion as global risk appetite declined.

Crypto exchange-traded products (ETPs) saw $2 billion in outflows last week, up by nearly 71% from $1.17 billion recorded the previous week, CoinShares reported on Monday. This marks the third consecutive week of outflows, extending the cumulative outflow streak to $3.2 billion.

Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility.