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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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June 24, 2025

American investor and entrepreneur Anthony Pompliano announced a $1 billion business merger to create a Bitcoin-native firm, ProCap Financial. The company has raised $750 million “from some of the leading institutional investors on Wall Street,” Pompliano posted on X.

“The company will be a publicly traded entity on Nasdaq,” said Pompliano through a special purpose acquisition company, or SPAC, with Columbus Circle Capital Corp.

“As part of the business combination, I have raised over $750 million, which is the largest initial fundraise in history for a publicly-traded bitcoin treasury company.”

ProCap to Acquire Bitcoin – BTC Treasury Firms Are on The Rise

Pompliano stated that ProCap will strategically acquire Bitcoin and generate revenue and profits from its BTC holdings.

Per the official announcement, ProCap Financial will hold up to $1 billion in Bitcoin on its balance sheet. It will offer services including trading, lending and capital markets, all denominated in Bitcoin.

Further, the $750 million funding includes $235 million in convertible debt, with the remaining amount comprising equity.

“It is time to get to work,” said podcast host Pompliano. In a reply to Strategy’s CEO, Michael Saylor, he said, “Your idea is spreading globally as people realize the value of Bitcoin.”

Indeed, inspired by Strategy (previously MicroStrategy), which currently holds 592,345, after adding 245 Bitcoins on Monday, several public companies are turning into Bitcoin proxies.

Intersection of Bitcoin and Traditional Finance

However, according to Pompliano, ProCap is pushing beyond that model. He said that the company would build a financial services platform on top of it, besides accumulating Bitcoin.

“Our objective is to develop a platform that will not only acquire bitcoin for our balance sheet, but will also implement risk-mitigated solutions to generate revenue and profits from our bitcoin holdings,” he said.

Additionally, equity investors will have immediate exposure from day one, the announcement added.

“ProCap Financial aims to become the leading financial services firm at the intersection of bitcoin and traditional finance.”

Pompliano told CNBC that the goal is to look and feel like a traditional financial institution, which resonates very differently with capital allocators.

Key points:

• Bitcoin sees a snap reaction to news of direct US involvement in the Israel-Iran conflict, dipping below $102,000.

• Traders note that war-based headlines have acted as a BTC price springboard in the past.

• Price analysis suggests that a local bottom may coincide with order book liquidity at around $97,000.

Bitcoin (BTC) risked new month-to-date lows into the June 22 weekly close as geopolitical threats soured crypto sentiment.

Bitcoin can still gain from war headlines — Traders

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD falling under $102,000 as US President Donald Trump confirmed strikes on nuclear facilities in Iran.

Iran, Trump said during a televised address uploaded to Truth Social, “must now make peace” or face additional strikes.

Ahead of what promised to be a volatile open to the Wall Street trading week, Bitcoin traders began considering potential BTC price bottom levels.

“A dump towards $93K-$94K before bottom formation and reversal,” popular trader Cas Abbe suggested, adding that the low $90,000 zone only had a “20%-25% chance” of being reached.

Abbe and others referenced events in April, when BTC/USD suffered following the announcement of reciprocal US trade tariffs before beginning a sustained rebound to new all-time highs.

The war is actually bullish…

2024:
Iran → Israel on April 13
Israel → Iran on April 19$BTC: –18% (first 2 weeks), +28% (next 1.5 months)

2024 (2):
Iran → Israel on October 1
Israel → Iran on October 26$BTC: –10% (1st week), +62% (next 2 months)

2025:
Israel → Iran… pic.twitter.com/Q6IRDlnZ1h

— Xremlin (@0x_gremlin) June 13, 2025

“In 2022, $BTC pumped +42% in 35 days after the Ukraine war began. That was deep in a bear market,” fellow trader Merlijn continued with another historical geopolitical comparison.

“Now it’s 2025. War fears rise again. But Bitcoin’s above $100K. And we’re still in a bull market. What happens if history repeats with more fuel?”

$97,000 BTC price support in play

With hours until the weekly close, however, BTC price strength still lacked conviction, leaving a key level out of reach.

Related: $112K BTC was not ‘bull market peak’: 5 things to know in Bitcoin this week

“I remain long over $93,500, but remember i really want to see the $104,500 hold for the bulls to remain in control,” trader Crypto Tony told X followers about the issue on the day.

BTC/USD thus remained on course for its lowest weekly close since the start of May.

Previously, Cointelegraph reported on exchange order book liquidity, potentially providing the first major support band at around $97,000.

Data from monitoring resource CoinGlass showed that the area remained significant at the time of writing.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Ripple Labs has announced a new partnership with the prominent fintech company Chipper Cash to streamline cross-border payments on the African continent. The agreement, disclosed today through an official press release, involves the integration of Ripple’s crypto-enabled payments technology into Chipper Cash’s platform—a collaboration that both parties believe will enhance the speed, cost-efficiency, and reliability of transactions within and into Africa.

Ripple Teams Up With Chipper Cash

According to the press release, Chipper Cash will utilize Ripple Payments, leveraging digital assets to offer users round-the-clock access to incoming funds at a lower cost than current legacy options. As a result, consumers across Chipper Cash’s footprint—spanning nine countries in Africa—are expected to benefit from significantly reduced friction when receiving money from virtually anywhere in the world.

“Our partnership with Chipper Cash marks a key milestone in the expansion of Ripple’s business in Africa. Consumers and businesses across the continent are increasingly recognizing the potential of blockchain technology, and we are excited to bring our crypto-enabled payments solution to our partners in the region,” said Reece Merrick, Managing Director, Middle East and Africa, at Ripple.

By integrating our technology into Chipper Cash’s platform, we’re enabling faster, more affordable cross-border payments while driving economic growth and innovation across the markets they serve. […] As the global cross-border payments market grows, more institutions like Chipper Cash are tapping into the transformative power of blockchain technology to drive efficiency and innovation,” the Ripple exec added.

“Crypto-enabled payments have the potential to enable greater financial inclusion, accelerate access to global markets, and empower businesses and individuals across Africa,” said Ham Serunjogi, Co-Founder & CEO at Chipper Cash, adding “through integrating with Ripple’s global payments network, we are excited to be able to harness the transformative potential of blockchain technology to enable consumers to receive payments faster and at lower cost.”

The collaboration builds on Ripple’s existing footprint in the region, which began with a partnership with Onafriq in 2023. Through these efforts, Ripple has solidified its reputation as a provider of digital asset infrastructure for financial institutions worldwide. According to the company, Ripple Payments now reaches 90+ payout markets, covering more than 90% of daily foreign exchange markets and processing over $70 billion in volume.

Chipper Cash, launched in 2018, has seen significant growth in user adoption and funding. According to its latest data, the company now serves millions of customers across Africa and beyond. Publicly released figures also show that Chipper Cash completed a $150 million Series C round in November 2021, led by FTX, pushing the startup’s valuation to around $2 billion and bringing its total capital raised to $305 million.

With nearly 300 employees distributed across a global network of offices, Chipper Cash’s headquarters remain in San Francisco, with key presences in Kenya, Nigeria, Ghana, Uganda, the UK, South Africa, Australia, Colombia, Tanzania, and Canada.

At press time, XRP traded at $2.32.

Featured image created with DALL.E, chart from TradingView.com

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