The Big Analysis
The essentials * A structural pivot: MARA is emerging from all-mining to become a hybrid conglomerate (AI, energy infrastructure) and a "Bitcoin treasury company" (53,000 BTC). * Financial fragility: Behind book profits driven by asset valuations, the group is burning through operating cash and financing its growth through dilution.
The Big Analysis
The crypto-asset market this Sunday offered a glimpse of what the coming end-of-year weeks could be like: erratic and violent. In an environment of low liquidity, Bitcoin swung wildly between $88,000 and $92,000, while Ethereum made a jump from $2,910 to $3,150. For analysts at QCP
The Big News
A small revolution. After more than a year of development, customers of the BPCE banking group will be able to buy and sell cryptocurrencies from Monday - a first in France for a major traditional bank, while BPCE manages more than €900 billion in assets and reaches nearly one in
The Big Analysis
In brief * Industrial breakthrough: Scheduled for this evening, the "Fusaka" update allows Ethereum to aim for 100,000 transactions per second. A theoretical capacity greater than that of Visa, essential to absorb global financial flows. * Operational gains: this overhaul of the infrastructure should reduce the costs of secondary
The Big Analysis
Briefly * Gold jumped more than 50% in 2025 * Tether became one of the world's biggest gold buyers * Tether (XAUT) and Paxos (PAXG) tokens dominate the tokenised gold market, which is still tiny with around 80,000 holders. * MKS Pamp, a historic player in gold, is entering tokenisation with
The Big Talk
The Big Whale: A year after raising €5 million, you're capping a $15 million Series A round. What is your objective? Alexandre Roubaud: There are three priorities behind this round. Firstly, international expansion. Until now, Bitstack was only present in France. With MiCA approval, we're going
The Big Talk
The Big Whale: We're seeing gold really take off at the end of 2025. How would you describe the state of the market today? Benjamin Louvet: The market is in turmoil: since January, gold has gained more than 50% and is trading at historic levels. Geopolitics is often
The Big Analysis
The moment the crypto ecosystem is going through today does not look like a lasting crash or a fundamental rethink of the sector. Eliézer Ndinga, director of research at index fund issuer 21Shares, sees it instead as a transitional stage, comparable to the situation of the web in the early
The Big News
Amundi is clearly accelerating its crypto strategy. A few weeks after making official the launch of its Bitcoin ETP scheduled for early 2026 (which we revealed in mid-October), Europe's leading asset manager is taking another step forward by unveiling a tokenised unit of its AMUNDI FUNDS CASH EUR
The Big Analysis
Key points * The company has made historic profits, with around $10bn already in the first three quarters of the year ($4.3bn in Q3). * Tether is strengthening its balance sheet by sharply increasing the proportion of secured loans (+44% quarter-on-quarter) and gold in its reserves. * The fall in rates is
The Big News
Michael Saylor has no intention of deviating from his course. While Strategy, his company that has become the global emblem of "Bitcoin Treasury Companies", could be excluded from the MSCI indices (around 10% market share), the boss insists that nothing, neither threats of massive capital withdrawals nor regulatory
The Big Talk
The Big Whale: It's been a big week for Deblock. You announced a €30 million fundraising round on 19 November, followed by the launch of your token the next day. Let's start with the first piece of information: what are you going to do with this