币股風向標丨比特幣礦企MARA Holdings花費超過86萬美元為高階主管提供車輛防彈裝甲服務；Bitmine已入選FTSE Russell 1000指數初步納入名單（5月19日）
- 核心觀點：加密市場及美股加密概念股普遍下跌，但量子計算、商業航天等板塊受政策與事件驅動而獲得關注。同時，儘管宏觀因素（美伊局勢緩和、聯準會潛在升息）影響市場，多家上市公司仍在持續調整各自加密資產（BTC、ETH、SOL、WLFI）的配置，反映出企業對數字資產的長期戰略分歧。
- 關鍵要素：
- 量子計算概念股受川普政府20億美元資助提振，市場建議長期關注Infleqtion、IONQ等標的。
- 摩根士丹利高層指出，AI併購潮正覆蓋晶片、電力、基礎設施等全譜系領域，但估值因執行風險而困難。
- 多家比特幣財庫上市公司動態：DDC增持200枚BTC（總持倉2583枚），Nakamoto擬反向拆股維持上市資格。
- 以太坊財庫公司Bitmine入選Russell 1000指數初步名單，其關聯錢包提取6萬枚ETH（價值1.26億美元）。
- Solana財庫公司Solmate透過配股募資1140萬美元，以每股4.97美元發行B類普通股。
- WLFI財庫公司AI Financial面臨持續經營風險，季度淨虧損2.715億美元，主因WLFI代幣價值下跌導致未實現虧損。
- 馬斯克旗下SpaceX與Tesla合計持有3.0221萬枚BTC（價值23億美元），成為第五大上市公司BTC持有者。
Editor’s Note: The cryptocurrency market saw a downturn followed by a slight rebound, and US crypto-concept stocks experienced a broad decline. Additionally, benefiting from the Trump administration's prior investment in Intel, which yielded over $45 billion in profits, the Trump administration's recent move to provide a total of $2 billion in funding to nine quantum computing companies has injected a strong dose of confidence into quantum computing concept stocks. It has also, to some extent, provided upward momentum and price support for stocks related to strategic sectors such as semiconductors, AI, and quantum computing. Long-term attention is recommended for stocks like: Infleqtion, RGTI, QUBT, QBTS, IONQ, IBM. Furthermore, as SpaceX's IPO date approaches, the commercial aerospace sector may see volatility, presenting short-term trading opportunities. Lastly, the situation between the US and Iran is seeing a phase of de-escalation, with both sides potentially reaching a ceasefire agreement, and the market is gradually digesting the positive news. Potential interest rate hikes by the Federal Reserve will continue to impact the stock market.
For more information on the crypto and stock markets, please refer to MSX.com. (Odaily Planet Daily Note: This content is for informational and educational purposes only and does not constitute investment advice.)
Perspective: Morgan Stanley Executives Believe AI M&A Trend Shows a 'Full-Spectrum' Development
Wally Cheng, Global Head of Technology M&A at Morgan Stanley, stated that as companies race to fill technology gaps in areas like chips, power, networks, and infrastructure, M&A transactions in the AI field are covering all sizes and expanding across multiple industries. Cheng said, “I think transaction activity will cover the full spectrum, including both private and public companies.” While the semiconductors providing computing power for AI attract attention for their “technological marvel” status, the infrastructure surrounding these chips also holds immense value, including areas like networking, storage, power, and real estate. Cheng stated that valuations in the AI industry remain “very difficult” because a balance must be struck between “unicorns with vast imaginations and rainbow-like prospects” and actual execution risks. Tammy Kiely, Senior Managing Director in the Technology Investment Banking group at Evercore, echoed similar views. She said potential acquirers must evaluate the potential value they can create while weighing the cost of missing out.
Weekly Update on Listed Crypto & Stock Companies
Representative Public Companies with BTC Treasuries
Michael Saylor: Bought Bonds Last Week, Not Bitcoin
Michael Saylor, Founder and Executive Chairman of Bitcoin treasury company Strategy, posted last week that he bought bonds instead of Bitcoin, and ₿itVac is charging.
Bitcoin Mining Firm MARA Holdings Spends Over $869,000 on Vehicle Armor Services for Executives
The latest DEF14A compensation filing from Bitcoin mining firm MARA Holdings shows that, under its security plan, the company paid $4.3 million in personal security-related expenses for CEO Fred Thiel, including a one-time vehicle armor cost of $430,000 and a home security installation cost of $58,000. It also paid $3.946 million in personal security expenses for CFO Salman Khan, including a one-time vehicle armor cost of $438,000.
MARA Holdings' board stated that, due to the company's public disclosure of holding a significant amount of Bitcoin assets, executives face higher risks distinctly different from those at other public companies, making these security measures commercially relevant and necessary.
BitcoinTreasuries.NET posted that Elon Musk's SpaceX and Tesla currently hold a combined total of 30,221 Bitcoin, valued at $2.3 billion. If combined, they would become the fifth largest publicly traded company holder of BTC.
DDC Increases Holdings by 200 BTC, Total Bitcoin Position Rises to 2,583
NYSE-listed Bitcoin treasury company DDC Enterprise Limited announced it has increased its holdings by 200 Bitcoin, bringing its total position to 2,583, further strengthening its digital asset allocation on its balance sheet.
The average purchase cost for this transaction was approximately $79,496 per coin. The company stated that this increase did not involve issuing new shares, resulting in an 8.4% increase in Bitcoin per 1,000 shares held (without dilution) to 0.0543 BTC.
According to disclosures, DDC's BTC yield for the year to date has reached 36.6%, and its current scale places it among the top 30 publicly traded companies globally for Bitcoin holdings. The company emphasized that the closed loop of “value-accretive financing + value-accretive allocation” has been completed, and it plans to continue increasing its BTC holdings in the coming weeks and months, with the pace depending on liquidity and balance sheet conditions rather than short-term price fluctuations.
Bitcoin Treasury Company Nakamoto Plans 1:40 Reverse Stock Split to Maintain Nasdaq Listing
Bitcoin treasury company Nakamoto plans a 1:40 reverse stock split to push its share price back above $1, thereby meeting Nasdaq listing compliance requirements.
According to the plan, the number of outstanding shares would decrease from approximately 696.1 million to about 17.4 million, expected to take effect on May 22.
Previously, Nakamoto reported a net loss of $238.8 million for the first quarter of fiscal year 2026. This included approximately $107.7 million in write-downs related to acquisition pre-paid options and another ~$102.5 million loss from the book loss on its holdings of 5,058 BTC during the 23% decline in Bitcoin's price that quarter.
Tether Acquires SoftBank's Stake in Twenty One Capital
Tether announced it has acquired the stake held by SoftBank Group in Twenty One Capital (XXI), further increasing its controlling stake in the company. Following the transaction, SoftBank's appointed board members at XXI have resigned according to the shareholder agreement. Tether stated this move reflects its continued strong belief in XXI's long-term Bitcoin strategy, viewing XXI as one of the most important opportunities to “build a publicly traded company from scratch around Bitcoin”. Tether CEO Paolo Ardoino noted that SoftBank provided crucial institutional resources and strategic perspectives during the company's early development phase, while Tether's confidence in XXI has “further strengthened”.
Representative Public Companies with ETH Treasuries
Tom Lee: Bitmine Selected for Preliminary Inclusion List in FTSE Russell 1000 Index
Tom Lee stated that Bitmine has been selected for the preliminary inclusion list of the FTSE Russell large-cap Russell 1000 Index. He added that BMNR's market cap has surpassed the minimum threshold of $5.7 billion.
According to Onchain Lens monitoring, two new wallets (0x9529...8B28, 0x59Ee...3fa5), suspected to be linked to Bitmine, withdrew 60,000 ETH from Bitgo and Kraken, valued at $126 million.
SharpLink to be Added to Russell 2000 and Russell 3000 Indices on June 29
Nasdaq-listed Ethereum treasury company SharpLink announced on X that it will be added as a constituent of the Russell 2000 and Russell 3000 indices, effective at the US stock market open on June 29, 2026, coinciding with the semi-annual rebalancing of the Russell indices.
Representative Public Companies with SOL Treasuries
Solana Treasury Company Solmate Announces Rights Offering to Raise $11.4 Million
Nasdaq-listed Solana treasury company Solmate Infrastructure announced a registered direct offering of a total of 2,298,000 shares of Class B common stock. The offering price is $4.97 per share, with expected total gross proceeds of approximately $11.4 million. The transaction is expected to close around May 27, 2026, subject to customary closing conditions.
Representative Public Companies with Altcoin Treasuries
WLFI treasury company AI Financial reported a net loss of $271.5 million for the first quarter of 2026, compared to a loss of $2.4 million in the same period last year. As of March 28, the company had a working capital deficit of approximately $5.5 million, total liabilities of $391,000, and total assets of $322,000, raising substantial doubt about its ability to continue as a going concern within one year.
As the WLFI treasury company, AI Financial held 7.3 billion WLFI tokens as of March 28, valued at $703.4 million. This value has fallen by one-third from over $1 billion at the end of last December, resulting in an unrealized loss of $348.3 million, while the company's cost to acquire these tokens was nearly $1.46 billion. Additionally, the company borrowed nearly $15 million from WLFI in January. Its stock closed down nearly 6.3% on Tuesday at 85 cents.
Nasdaq-listed company SUI Group disclosed its latest operational data. As of May 19, it held 108,793,779 SUI tokens. Based on a unit price of $1.06, the corresponding market value is approximately $115 million. The staking yield is 1.8%, and the market cap relative to net asset value is 0.91x, with the valuation having declined compared to the previous period.
