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Sujha Sundararajan

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Sujha Sundararajan

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Sujha has been recognised as Women In Crypto 2024 by BeInCrypto for her leadership in crypto journalism.

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Last updated: 

August 21, 2025

Hong Kong-based construction giant Ming Shing Group has announced a pact to purchase 4,250 Bitcoin, valued at $483 million.

The Nasdaq-listed firm that engages in wet trades has entered a Bitcoin purchase agreement with British Virgin Islands-registered Winning Mission Group. The company will sell 4,250 BTC to Ming Shing at an average price of $113,638 per Bitcoin.

According to Bitcoin Treasuries data, Ming Shing Group has been holding Bitcoin since January 13, 2025. The firm currently holds 833 Bitcoin, valued at $94.93 million.

With the announcement, Ming Shing has joined a flurry of public companies that have incorporated Bitcoin into their treasury strategy, led by Michael Saylor’s Strategy. Recently, KindlyMD made a dramatic entrance into the Bitcoin treasury race, acquiring 5,743.91 BTC through its wholly owned subsidiary.

Ming Shing to Issue Convertible Promissory Notes, Stock Warrants

The Bitcoin purchase deal is expected to close by end of this year. Per the announcement on Wednesday, the Hong Kong firm will issue convertible promissory notes and share warrants, in pursuant to the agreement.

“Pursuant to the Note, the maturity date is 120 months from the original issuance date of the Note,” the release read.

Further, a third-party firm, Rich Plenty Investment Limited, will receive half the value of the deal, which is 2,125 Bitcoin. The original seller and the third-party will each get a convertible note worth over $241 million and a warrant to buy Ming Shing’s shares of 201 million.

According to Wenjin Li, CEO of Ming Shing, the Bitcoin investment could capture the potential appreciation of the asset. It would also increase the Company’s assets, given that the market is highly liquid.

“We are devoted to creating additional value for our shareholders and actively exploring options for the Company to grow further,” Li added.

MSW Stock Jumps Nearly 30%

Following the BTC purchase announcement, Ming Shing’s stock (MSW) surged 29% on Wednesday. The stock closed the day 11.5% higher to trade at $1.65, per Yahoo Finance data.

However, the stock has been on a general downtrend, with a Strong Sell technical sentiment signal.

Crypto firm has entered into a credit agreement with crypto exchange Gemini ahead of the latter’s initial public offering (IPO). The crypto exchange revealed the details of this agreement in its IPO filing, with the amount expected to be used to finance some costs that may arise during the public offering.  

Details Of Ripple’s Agreement With Gemini

In its IPO filing with the SEC, Gemini revealed that it entered into a credit agreement with Ripple in July. Under the agreement, the crypto exchange can make lending requests of no less than $5 million each, and up to an aggregate commitment amount of $75 million. Furthermore, the initial commitment of $75 million can be increased or decreased from time to time, subject to the attainment of certain metrics that both parties have agreed on. 

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However, the aggregate commitment of the credit agreement between Gemini and Ripple cannot exceed $150 million, meaning that is the maximum credit that the crypto exchange can request from the crypto firm. Once Gemini exceeds the initial commitment of $75 million, then it will need to make lending requests in the form of Ripple’s RLUSD stablecoin, which the crypto firm has to consent to. 

Gemini revealed that all its lending requests under the Ripple credit agreement must be secured by collateral. It shall also bear an interest rate per annum of 6.50% or 8.50% and must be repaid in USD. Although some details were redacted, the crypto exchange indicated that it has also received some amount from Ripple under the agreement. 

With this, Ripple has become a major backer for Gemini’s IPO, which is expected to take place soon. Notably, the crypto exchange’s financials in the IPO show that it posted net losses over the quarters that span back to March 2023. In just the first half of this year alone, Gemini has recorded a net loss of $282 million. 

Details Of The Gemini IPO

With Ripple’s backing, Gemini plans to offer shares of its Class A common stock, although it has yet to reveal how many shares will be available in the IPO. The crypto exchange has yet to provide details on how much these IPO shares are likely to sell for each. However, it revealed that it has applied to list these Class A common stock on the Nasdaq stock market under the symbol “GEMI.”

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Furthermore, the lead underwriters for the Gemini IPO are Goldman Sachs and Citigroup, with support from other firms such as Morgan Stanley and Cantor. Gemini’s IPO plans follow the successful execution of crypto exchange Bullish’s IPO, in which the exchange raised $1.15 billion after selling its shares for $37 each. Gemini will be looking to record similar success, considering the massive crypto demand among traditional finance (TradFi) investors.

Featured image from Getty Images, chart from Tradingview.com

As the crypto industry is experiencing a bullish revival supported by a more favorable regulatory environment in the United States, major financial institutions want to reassess previous skepticism about digital currencies and explore opportunities now within the sector.

Collaboration with JPMorgan and Coinbase

Recent Passes of Key Laws – Genius Law, the Clear Act of Digital Asset Markets, and the Anti-Central Bank Digital Currency (CBDC) bill, through Congress, encourages more banks and businesses to consider integrating digital assets into their businesses.

This new interest comes when the cryptocurrency market reaches an impressive valuation of around $4 trillion, with regulatory clarity hoping for continued growth in major markets as well.

Starting in 2026, JPMorgan customers can use Chase Credit Cards to fund their Coinbase wallets, making it easier to access cryptocurrency purchases.

The partnership allows Chase customers to redeem Circle’s USDC Stablecoin credit card reward points. This feature reflects the increased integration of digital assets into everyday financial transactions, along with the ability to directly link bank accounts to Coinbase to fund cryptocurrency purchases.

The financial giant step into the crypto market

Designed to minimize price volatility, Stablecoins are positioned as an essential tool for driving seamless transactions in both transactions and payments. They are now under a new regulatory framework established by the Genius Act, signed by President Donald Trump.

Market analysts note that cryptocurrency adoption is set to accelerate in light of recent legislative changes. BCA Research highlights that businesses within the crypto ecosystem are well suited to benefit from this growth, suggesting that an increase in adoption will lead to rising prices for digital assets.

Coinbase’s stock, Coin has been actively responding to partnership news, climbing 6% in Wednesday’s trading session, closing the day at $377, reflecting a broader trend in the company’s performance.

This year, an increase of around 50%, Coinbase achieved a market capitalization of around $95 billion, further strengthening its role as a leader in the cryptocurrency space.

Reuters highlighted that Crypto Exchange’s recent inclusion in the S&P 500 index highlights its growing importance and acceptance in the mainstream financial world.

Other financial institutions are also taking steps to get involved in the crypto market. Earlier this month, PNC Bank announced a collaboration with Coinbase, offering cryptocurrency transactions to its customers, indicating that interest in digital assets is not limited to JPMorgan alone.

Citibank, Morgan Stanley and Bank of America are one of the biggest US banks to participate in this growth trend, and cryptocurrencies are expected to make a huge profit.

Dall-E featured images, charts on tradingView.com

Stocks and crypto lost a little bit of ground on Friday as President Donald Trump accused China of violating a recent trade agreement.

Trump says on Truth Social that he had previously decided to make a deal with China because his tariffs were plunging the Asian giant into “grave economic danger.”

But according to Trump, his efforts did not pay off, as he says China breached a deal with the United States.

“I saw what was happening and didn’t like it, for them, not for us. I made a FAST DEAL with China in order to save them from what I thought was going to be a very bad situation, and I didn’t want to see that happen. Because of this deal, everything quickly stabilized and China got back to business as usual. Everybody was happy! That is the good news!!! The bad news is that China, perhaps not surprisingly to some, HAS TOTALLY VIOLATED ITS AGREEMENT WITH the US. So much for being Mr. NICE GUY!”

The Nasdaq Composite dropped by 0.32% on Friday, while the S&P 500 traded closer to even, only slumping by 0.0081%.

Crypto, on the other hand, fell further, with the overall digital market cap dropping by more than 4%. Bitcoin (BTC) fell by more than 1%.

The Trump Administration announced multiple waves of tariffs on China in early April, which China responded to with retaliatory measures. Earlier this month, the White House announced that it had reached a deal with China to suspend and lower many of those tariffs, which kickstarted the equities market.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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President Trump’s World Liberty Financial (WLFI) has reportedly inked a series of agreements with the Pakistan Crypto Council (PCC) to promote investment and innovation in the country’s digital assets industry.

The Express Tribune reports that Pakistan’s Federal Minister for Information Ata Tarar, PCC CEO Bilal Bin Saeed and WLFI co-chairman Zack Vetkoff attended a signing ceremony.

The event took place on Saturday, just a month after the PCC was formed. The regulatory body was created to oversee and promote crypto and blockchain technology within the country.

According to Tarar, the establishment of the PCC represents a pivotal step in embracing emerging technologies, and initiatives like the partnership with WLFI will help accelerate economic growth and technological advancement. 

“Pakistan offers tremendous opportunities in the crypto sector. Despite being a relatively new player, Pakistan has made remarkable progress in a short span of time.“

Pakistan is home to 241.5 million people, making it the world’s fifth-most populous country. Vetkoff says the South Asian nation holds economic potential. 

“Pakistan is one of the fastest-emerging economies. We are excited to be part of its journey towards a vibrant financial future.”

The Trump family holds a 60% stake in the WLFI, and the project itself holds over $103 million worth of crypto assets, according to Arkham data.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney