Stablecoin Adoption Accelerates Following GENIUS Act Implementation

**Donut Labs** has successfully raised **$22 million** in funding over the past six months, completing both pre-seed and seed investment rounds. The funding milestone represents significant investor confidence in the company's vision and execution. Previous reporting indicated the company had raised $21 million as of July 2024, with participation from notable investors including **Makers Fund** and **Hashed**. This rapid fundraising pace - securing substantial capital across multiple rounds in just six months - positions Donut Labs for accelerated growth and development of their platform.

A broker analysis reveals that a company's **comprehensive bitcoin strategy is reaching maturity**, driven by strategic preferred equity investments that are generating positive returns. Key developments include: - **New S&P credit rating** opening doors to a broader institutional investor base - **Preferred equity driving accretion**, indicating successful capital allocation - **Full-cap bitcoin approach** showing signs of strategic maturation The timing aligns with the company's strong Q2 performance, which included **$10 billion in net income** and an expanding bitcoin treasury. The S&P rating represents a significant milestone, as it allows institutional investors with credit rating requirements to consider the investment. This development suggests the company is successfully **bridging traditional finance with bitcoin strategy**, creating multiple pathways for growth through both direct bitcoin exposure and traditional equity mechanisms.

A small biotech company is making a dramatic pivot into digital assets, securing $540 million in funding to establish a canton coin-based treasury. **Key Details:** - DRW and Liberty City Ventures are backing the raise - The firm is transitioning from biotechnology to digital asset management - This follows a trend of major treasury builds in crypto **Market Context:** Earlier this year, crypto giants Galaxy, Multicoin and Jump sought $1 billion for a Solana treasury with Cantor Fitzgerald as lead banker. The biotech-to-crypto pivot represents an unusual corporate transformation in the digital asset space.

A major crypto investment firm has increased its Ethereum holdings to **3.4 million ETH**, representing nearly 3% of the total token supply. The firm has been steadily accumulating ETH tokens, growing from 3.31 million just one week ago. This represents an increase of approximately 90,000 ETH in seven days. **Key details:** - Current holdings: 3.4 million ETH - Market share: Just under 3% of total supply - Target goal: 5% of total ETH supply - Recent growth: ~90,000 ETH added in one week The firm continues working toward its ambitious goal of owning 5% of Ethereum's total supply, which would require accumulating significantly more tokens at current levels.

A firm has completed fresh acquisitions, **primarily financing the purchases through common stock sales**. This funding strategy mirrors the company's approach from earlier in the year, when it similarly used common stock sales as the main financing method for acquisitions. - **Primary funding source**: Common stock sales - **Secondary funding**: Minimal use of preferred shares (based on previous pattern) - **Strategy consistency**: Maintains similar financing approach from mid-2025 The repeated use of equity financing suggests the firm prefers diluting existing shareholders rather than taking on debt for growth initiatives.