Galaxy Digital, Multicoin Capital, and Jump Crypto are seeking about $1 billion to assemble a Solana treasury through a public company vehicle, according to Bloomberg, with Cantor Fitzgerald engaged as lead banker and a takeover of a listed entity contemplated for the structure.

The effort, described as ongoing talks, would create what the report characterizes as the largest dedicated SOL treasury.

The contemplated wrapper mirrors familiar corporate-treasury mechanics, using public equity and financing tools to scale crypto exposure that can later be supported by converts or PIPEs.

Recent activity around Cantor-backed crypto treasuries shows the pathway exists in traditional markets, including a Nasdaq listing plan for Bitcoin Standard Treasury Company through a Cantor-affiliated SPAC, which if completed would list a balance sheet with more than 30,000 BTC.

Timing remains a key variable. Bloomberg’s account, as relayed in same-day trade press summaries, points to an early September closing goal and a green light from the Solana Foundation, while noting that details could change and the parties declined to comment. These elements underline that the plan is pre-closing and subject to market and regulatory execution risk.

The choice of Solana aligns with how on-chain trading has shifted this year. OKX’s State of DEX 2025 found Solana accounted for roughly 48 percent of decentralized exchange volume, with activity skewed to smaller retail trades, while Ethereum and its Layer 2s continued to dominate tickets above $50,000. That split helps explain why an equity-listed SOL aggregator might target breadth and liquidity on Solana while acknowledging that institutional block flow often retains an ETH bias.

The firms named in the Bloomberg report already have touchpoints with the ecosystem. Galaxy launched Solana index-tracking funds in 2021 alongside the Bloomberg Galaxy Solana Index, establishing an early institutional product set tied to SOL pricing.

Multicoin has publicly articulated a multi-year Solana thesis focused on throughput and vertical integration. These histories provide context for why they would coordinate on a larger balance-sheet approach today.

The prospective vehicle would also enter a field of emerging SOL treasuries. Upexi disclosed purchases of discounted locked SOL and said its holdings surpassed $100 million this spring, part of a pivot toward a SOL-centric treasury strategy that includes validator operations and financing via equity and convertibles.

DeFi Development Corp., which has framed itself as a SOL accumulator, reported crossing 846,000 SOL and reiterated its intent to compound via staking yields. These moves signal how listed companies are operationalizing SOL on balance sheets.

If the Cantor-advised SOL vehicle closes on the timeline described, it would formalize a public-markets route for consolidated SOL acquisition, potentially creating an equity proxy for investors that cannot hold the token directly and a repeatable template for future altcoin treasury structures.

For now, the initiative sits in the discussions stage, with the size target, banker role and public-company takeover framework outlined in Bloomberg’s reporting.

Mentioned in this article

Plus: What do SBF and Al Capone have in common?

GM. The only thing getting squeezed harder than this lemon is that poor altcoin down 40%.

Updates on the OM crash situation.

News drops: SBF gets transferred, Coinbase addresses memecoin issues + more

Market flavor today

Fed Chair Jerome Powell spoke yesterday – and when he does, markets usually pay attention.

Crypto ain’t no different – Bitcoin started looking like it might make a run at $86K… until Powell opened his mouth.

What did he say? Nothing much. And that’s the problem.

He said that the new tariffs announced by Trump were way larger than anticipated, and warned that the uncertainty surrounding them could cause long-term harm to the economy.

That’s because they’re setting us up for a tough combo:

• Slower growth,

• Rising unemployment,

• And faster inflation.

All happening at the same time. That’s a mix the Fed hasn’t had to deal with in about fifty years.

This matters because the Fed has two main goals: keeping inflation low and helping the job market stay strong. Tariffs are now threatening both.

And while the US economy looks pretty okay for the moment, Powell said they’re gonna wait to see how things play out before doing anything.

Translation: interest rates are likely to stay high for now

This means crypto won’t be getting much help from monetary policy unless inflation really starts to fall – and that prolly won’t happen before summer.

On a separate note, we also got new data on US retail sales – in March, they rose more than they have in over two years.

That kind of news should be good for crypto. When people are spending, it usually means they’ve got extra cash and feel confident = bullish.

But this time, it wasn’t about confidence – it was about panic. People were buying stuff like cars and electronics before tariffs send prices through the roof.

And as Comerica Bank’s chief economist Bill Adams said, “It’s hard to feel good about Americans panic buying cars as consumer confidence craters” – because once the panic fades, demand will probably drop.

So yeah, the economy’s in a weird place – consumers are panic shopping, tariffs are creating uncertainty, Powell’s on standby, and the crypto market is…

Confused.

Memecoin harvest

Shitposting their way to the top:

Data as of 05:00 AM EST.

Check out these memecoins and plenty more here.

On Monday, we covered the wild story of Mantra DAO’s OM token crashing by 90%.

(If you didn’t read that edition or weren’t subscribed to us yet – go catch up here.)

Now for the sequel: the Mantra team issued a statement yesterday.

TL;DR: “We’re still here, we’re still building, and no, we didn’t do it.”

They also said they didn’t sell a single OM during the whole thing and blamed the collapse on a wave of forced liquidations. The theory: some big OM holders on centralized exchanges got wiped out when the price dropped too low for their borrowed positions to stay open.

The team also announced their plans moving forward:

• Ask exchanges to help explain wtf happened;

• Release a public dashboard showing real-time balances of all the major token allocations (basically to prove they’re not secretly selling);

• Buy back and burn some OM tokens (and FYI: token burns = supply goes down = price goes up maybe).

Now, this statement came after Mullin had a chat with YouTuber and crypto investigator Coffeezilla.

And, this post pretty much sums it up:

Mullin doubled down: the team didn’t sell during the crash, and they weren’t liquidated either.

But.

He did admit they had previously sold $25M – $30M worth of OM tokens – just not on the open market.

Instead, they did what’s called an OTC (over-the-counter) sale – that’s when you sell tokens directly to investors or institutions. Usually, there’s a “lock-up” period, meaning those buyers can’t sell the tokens right away.

If those buyers had dumped their tokens, that could’ve crashed the price. But Mullin insists the tokens are still locked, so that couldn’t have been the cause.

Oh, and Mullin also said they used about $10M from that OTC money to buy OM tokens back from the market.

Coffeezilla was then like… “umm, so you were pumping the price?” But Mullin denied that.

Anyways, the problem now is that those OTC tokens will unlock eventually. And when they do, we might see more selling pressure.

Mullin was asked what happens then – like, what if those investors decide to dump everything?

His answer: “We’ll continue to build out the ecosystem and support as much as we can so that people have a reason to stake, hold it, and continue to see it as an asset.”

Overall, there are still a ton of open questions – including the biggest one: what actually caused the crash in the first place?

But at least now, we’ve got a few more pieces on the table.

News drops

Sam Bankman-Fried got a new prison address – he’s now at Terminal Island in LA. Fun fact: this is the same place where Al Capone and Charles Manson did time.

Coinbase says it had nothing to do with the “Base is for everyone memecoin” that blew up to $17M and then crashed 90% in 20 minutes. They clarified that Base only posted on Zora – a platform that turns posts into tokens – but the coin wasn’t official, and they didn’t create or sell it.

DWF Labs invested $25M in World Liberty Financial (WLFI), a DeFi project backed by Donald Trump and his sons. The Dubai-based market maker says it plans to join WLFI’s governance.

A US judge paused a lawsuit from 18 state attorneys general and the DeFi Education Fund against the SEC. That’s because the case might become pointless when the SEC gets new leadership, since the original beef was about them going way overboard with lawsuits against crypto companies.

Bitwise dropped four new crypto ETPs on the London Stock Exchange, covering Bitcoin and Ethereum. One even lets you earn rewards by staking ETH.

Juicy memes

Bitcoin has shown resilience by bouncing to its 200-day moving average since last Tuesday when it fell as low as $76,606, yet it remains below this key technical threshold. In this volatile market environment, a major whale has taken a contrarian position by establishing a highly leveraged short on Bitcoin perpetual futures via Hyperliquid.

Huge Bitcoin Whale Goes Short

According to data from Hyperliquid and blockchain analyst Lookonchain, the whale’s short position is valued at over $445 million and utilizes 40x leverage. This position comes with a liquidation price set at $85,940, and despite the inherent risks, the trader is already reporting an unrealized gain of $4.4 million.

Pseudonymous trader CBB (@Cbb0fe) galvanized a group of market participants to target the position. Lookonchain’s report highlights a coordinated effort to force the whale’s hand: “This whale still managed to turn a profit despite being hunted by a team! 11 hours ago, @Cbb0fe publicly formed a team to hunt this whale who shorted BTC with 40x leverage. Just one hour later, the team was in action, driving BTC above $84,690 in a short period,” Lookonchain said on X.

Related Reading

Notably, the whale was forced to deposit $5 million USDC to increase margin and avoid liquidation. “But the hunt ultimately failed. The whale continued to increase his position to short BTC. Currently, the whale is profiting from closing positions through Twap. His current position is 5,406 BTC ($449M), with an unrealized profit of $4.4M.” the blockchain analytics service added via X.

In a series of rapid-fire tweets, CBB further intensified the situation by stating: “The hunt has begun,” adding “If you are willing to hunt this dude with size, drop a DM, setting up a team right now and already got good size.” He later added: “We have lost a battle but we have not lost the war. Locked in.” and “Holy fuck please Eric Trump send help from the divine father to liquidate this mfer.”

Related Reading

Hyperliquid has positioned itself at the forefront of this unfolding drama, emphasizing the platform’s role in providing unmatched transparency in high-leverage trading. In a statement posted on X, Hyperliquid commented: “Hyperliquid has redefined trading. When a whale shorts $450M+ BTC and wants a public audience, it’s only possible on Hyperliquid. […] Anyone can photoshop a PNL screenshot. No one can question a Hyperliquid position, just like no one can question a Bitcoin balance. The decentralized future is here.”

Hyperliquid was recently thrust into the spotlight following an incident involving a prominent whale who executed a “liquidation arbitrage.” In that event, the extraction of floating profits led to a margin shortage that triggered forced liquidations, transferring risk to the decentralized exchange’s HLP vault.

At press time, BTC traded at $83,455.

Featured image from iStock, chart from TradingView.com

Plus: Robots can now figure things out… on their own

GM. We pressed the freshest headlines, skimmed off the pulp, and left you with a tall glass of sweet market updates – drink up before it gets warm!

No, my vacation’s not over yet. I’m actually on a tiny boat in the middle of the ocean rn, wondering what’s more unpredictable – these waves or the crypto market?

Anyways, let’s get into it before I become shark food.

Market flavor today

News drops

This is the news that had me gasping for air like I just got wiped out by a massive wave:

Bybit fights back, recovers billions in ETH

Bybit just pulled off a major comeback, reclaiming 88% of the ETH lost in the hack (446,870 ETH worth $1.23 billion) using various funding methods. They’re also dropping a proof-of-reserves report with Merkle tree verification to prove they’ve got users covered. Tether, ChangeNOW, FixedFloat, and THORChain helped by freezing $42.89 million, cutting down the hackers’ payday.

SBF ditches Democrats, shoots for a Trump card

Sam Bankman-Fried, once a big Democratic campaign donor, is now Team Trump and Musk. He’s throwing shade at Biden’s administration while hyping up Musk’s cost-cutting dreams. Meanwhile, his parents are out there trying to score him a get-out-of-jail card.

A million-dollar suit… but make it shareable

Fermion Protocol is kicking things off on Base by letting people co-own a $1M Dolce & Gabbana digital suit – because why buy alone when you can split the bill? Founded by Boson Protocol’s Justin Banon, the project is all about turning luxury goods into shared assets, so high-end fashion isn’t just for the ultra-rich. AI and blockchain will take care of the heavy lifting, so you can flex your digital wardrobe without the full price tag.

Robots are getting way too smart

Helix AI lets robots follow voice commands and pick up new objects without any extra pre-programming. Thanks to its Vision-Language-Action model, they can recognize the actions and react in real time. Figure AI already trained it on 500 hours of robot demos and even gave it auto-generated instructions, so don’t be surprised if your next coworker doesn’t need lunch breaks.

Read more on these and other stories here.

Juicy meme

There are a lot of misconceptions about Chia plotting and farming. If you’d like to start farming Chia but don’t have the time to dig through forums and guides, you’ve come to the right place. Hopefully, this guide will help you avoid the trial and error I had to go through.

Today, we’ll be talking about Chia plotting, and specifically, which hardware to use to get the best return on investment. In this guide, I will explore both budget and high-end setups. Choose which one suits you the best.

Why Using Separate Hardware for Chia Plotting?

Most Chia guides will tell you to simply grab a hard drive, launch the Chia plotter and call it a day. While this approach works, it’s far from being efficient.

Why should you care about efficiency, though? According to official sources, we reached a total of one million active plots. That’s a lot of competition, and if you want to earn any profit of Chia farming, you have to get a good rig for the least money possible. It’s all about knowing which corners to cut, and which ones to not.

Plotting and farming are two different processes that put load on different parts of your Chia hardware:

Optimal Chia Plotting Rig Setup

Based on my own experience, as well as on what the community says, the best setup is to have one PC dedicated to Chia plotting, and another one (or more) for Chia farming. This way, you get good plotting speed while avoiding over-investing on several high-end PCs. However, it’s still possible to combine both plotting and farming on the same PC, as long as you have the proper storage setup, below you will find the best cases i could found to store lots of HDDs depending of how much you would like to invest.

Now, most people I know use the SWAR plotter, and try to run as many plots in parallel as possible. The average speed for most people seems to be 8 plots every 7-12 hours. I personally now use the MadMAx43v3r Chia Plotter instead that does serial plotting. With it, I can achieve speeds between to 25 and 30 minutes per plot. This guide will show you the hardware I’m using for that.

For plotting, you’d ideally want to have a:

Here is my plotting PC. I already had it built for another project (LINK#1, LINK#2)

Below, you will notice that the only two things that change between the budget and high-end versions are the CPU and RAM specifications. The PSU, motherboard and system SSD are the exact same for both lists, which means that there is always the option to upgrade your rig afterwards if you start with the budget version.

What also varies besides the CPU and RAM is the amount and type of plotting SSDs to use in the rig. I will be detailing which model and capacity to pick, too.

Best Chia Plotting Hardware

Part 1/3: Choosing the hardware

Optimal BUDGET Chia Plotting Hardware

This setup is both affordable and upgradeable. It’s a good way to getting started in Chia plotting without over investing.

Optimal MID-HIGH End Chia Plotting Hardware

This is arguably the best setup you can get at home. What’s nice is that it’s still a consumer-grade PC, meaning you can later use it for purposes other than mining Chia.

Part 2/3: Choosing the SSD for plotting

Best SSD’s for Chia Plotting

The drives you will be using for Chia plotting will depend on what kind of CPU do you go for. Obviously, you want the SSD speed to match that of the CPU to avoid any bottlenecking.

Sabrent Plotripper

The Plotripper is an upcoming model announced by Sabrent designed specifically for Chia plotting. Its selling points are insane TBW capacity, as well as allegedly reasonable pricing. We still have to wait to see the real numbers, though.

That was the selection of the drives I personally find the best for plotting. If you want to get something else, here are the main key aspects to consider:

1 TB vs 2 TB SSD’s for Chia Plotting

You probably noticed that my list includes only 1TB SSD drives, even though 2TB seems to be the popular choice nowadays. I’m basing this recommendation off my own tests. Here’s what I found out:

The madMAx43v3r plotter uses two different temporary directories while plotting, and a final directory where the completed plot is stored. I will go over the specifics in my Plotting guide but for now I will say that you really want to split the three directories on three separate drives to achieve the best performance:

As you can see, you can get away with one expensive, and one less expensive SSD for your plotting drives. You also don’t have to waste money on 2TB SSD’s since the plotter won’t use the extra space anyway.

Now, a common counterargument is that 2TB drives have higher TBW than 1TB ones. While true, let’s not forget that the real TBW of SSD drives is often higher than the one advertised. A good example is my WD_Black SN750 1Tb drive that has 77% of its advertised TBW value used but is still sitting at 54% health.

Besides, it’s better to buy one high-end 1TB SSD with high TBW (such as the Samsung 970 PRO 1TB) than a mid-end 2TB drive. With the high end-drive, not only you get the same TBW, you also get better and more stable write speed.

Part 3/3: Choosing The Best Chia Plotting & Farming Case

Mid-End CASE: Fractal Define 5

I personally find Fractal Design Define R5 case perfect. It’s big enough to fit everything in it: it features 8x slots for 3.5 HHDs, and you can install up to 6 fans on it. It already comes with two. If you want to add more, I would recommend these: Fractal Design Dynamic X2 GP-14 Computer Fan – Silent Fan – High Airflow

High-End CASE: Fractal Define 7 XL

If you are taking Chia farming very seriously, the Fractal Define 7 XL might be a better choice for you. For the money, you get room for up to 20 (!!) 3.5 HDDs. You simply can’t beat this for the money. Just don’t forget to install enough additional fans to keep the whole system cool.

Best Chia Plotting Hardware – Accessories and Parts

Since the motherboard has only 8 SATA ports that means you can store 8 3.5 HDDs only, just perfect for Fractal Define 5, as for the Fractal Define 7 XL we will need few more parts and accessories in order to fill up the case with 12 more 3.5 HDDs. Here is the list:

How to Plot and Farm Chia

Now that you have your plotting rig ready, it’s time to get started with the actual plotting. Below, you will find my Farming Rig Setup guide, as well as my full Plotting Guide:

Please share your feedback in the comments below. Thanks!

Thank you for reading. As always, your comments, suggestions and questions are welcome.

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This article is a continuation to my Chia plotting & farming guide. If you haven’t already, check out part 2 where I talk about the best hardware for plotting, and next part 3 where I talk about the best farming hardware.

Now that your Chia plotting rig is ready, it’s time to set up the plotter software and start earning your first Chia coins. If you have checked my previous guides, you will have an idea on what kind of results to expect.

Download Chia Wallet, Setup & Backup

First thing first let’s download & install Chia GUI from official website here: https://www.chia.net/download/ (always double check if you download from official sources), make sure you backup & save seed phrase in a safe location like:

Another recommendation to stay safe is to farm to a cold wallet directly. Create your plots and farm with one wallet/seed phrase but send the rewards to a different one (cold wallet) by changing your farming rewards target address in Chia GUI Wallet, here is how:

Best Chia Plotter Software

Just like most users, I first started plotting with the currently popular SWAR plotter, plotting 8 in parallel with my current configuration from here. Later, I moved on to PSChiaPlotter. While PSChiaPlotter is a great piece of software, I soon discovered madMAx43v3r plotter, and I am now currently using it because it gives the best results by far. Here’s why.

The MadMAx43v3r Chia Plotter allows me to work on one plot at a time (serial plotting) at an incredible speed. If assign 16 threads to the plotter, I achieve a record breaking speed of 29 minutes per plot. If I open another instance of the plotter and split the threads and RAM between both instances, I am able to have two plots every 55 minutes (an average of 26 minutes per plot).

How to use the madMAx43v3r Chia Plotter:

If you are new to plotting and not reploting for pools then using madMax software is more than enough, check the tutorial below. For re-ploting skip this section.

Note: to replicate my results, you have to use two high-speed SSD drives with MLC NAND. This guide won’t give you the advertised results if you have a bottleneck in your plotting rig.

My results with 16 threads:

Total plot creation time was 1699.33 sec (28.3221 min)

Plotting with two madMax instances

As I mentioned earlier, you can run two instances of this plotter in parallel with diminishing returns. On a rig with 32 CPU threads and 32GB RAM, the plot creation time goes from 28 minutes to 55 minutes per instance, per plot. This means that each plot takes an average of 25 minutes to create.

How to rePlot for Pools w/ PSChiaPlotter & MadMax

Now that official pools are live, we have to replot again for portable plots (also known as pool plots). If you already have quite a few plots being farmed on, re-plotting will be a hit to your performance until all of them are converted.
There’s a way to mitigate that, though. If you use the PSChiaPlotter in conjunction with the madMAx43v3r plotter, you can re-plot almost seamlessly.
Huge shootout to NotAnotherTech Channel for making this possible.

With this duo, you can still solo farm with all of your old plots, even those that are about to get deleted.
All you have to do is configure the Replot function in the PSChiaPlotter to use the madMax plotter.
Otherwise, you would have to delete a few plots to make room for the new ones, meaning that you’d have fewer plots farming during the re-plotting process.
Or, if you use the PSChiaPlotter alone, you’d lose on the extra speed madMAx43v3r can provide.

There is no need for me to make a step by step tutorial for this because NotAnotherTech Channel did it perfectly and i had nothing else to add, anyway if you have questions let me know. Here is how you should do it:

Thank you for reading. As always, your comments, suggestions and questions are welcome.

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