Crypto Markets: MoneyGram Doubles Down on Solana

No expiry. No rollover. Close whenever you want.

Kalshi is the first regulated place in America to offer perpetual futures. Trade price direction on BTC, ETH, SOL, XRP, and more — up to 5.8x leverage, without touching the underlying asset.

Try Kalshi Perpetuals Today

_{Using leverage increases risk of loss. Leverage is subject to the Firm's review and the customer's risk profile.}

(June 23 Edition)

MoneyGram is expanding its crypto footprint by becoming a validator on the Solana blockchain. Validators are responsible for helping verify transactions and keeping the network secure, making them one of the most important parts of any blockchain ecosystem. For many people, MoneyGram is still known as a traditional money transfer company, so this move highlights how quickly financial firms are embracing blockchain technology. The company has already worked with crypto payments in the past, but operating a validator puts it much closer to the infrastructure layer of the industry.

It is another sign that major companies are becoming more comfortable building directly on crypto networks instead of simply offering related services. Solana continues to attract large institutions because of its speed and low transaction costs. As more recognizable brands join the network, it could help bring greater trust and awareness to blockchain technology among everyday users.

Trading app Fomo has raised fresh funding at a $550 million valuation, with support from well known venture capital firms Index Ventures and Union Square Ventures. While many trading platforms focus on stocks or crypto separately, Fomo is trying to create a more social and engaging experience for modern investors. The backing from two of Silicon Valley's most respected investors signals strong confidence in the company's future growth.

In today's crowded market, attracting users is difficult, making this level of investment particularly noteworthy. Investors appear to be betting that the next generation of traders wants a platform that feels more interactive and community driven. The funding gives Fomo additional resources to expand its products and attract new users. As competition intensifies across fintech and crypto, this will be one company worth watching.

Strategy's STRC shares recently fell to $86.25, and many investors believe the company's latest capital allocation decisions played a role. The company announced it had increased its USD Reserve by $300 million to $1.4 billion to strengthen the credit quality of its Digital Credit securities. At the same time, Strategy purchased an additional 520 Bitcoin for $35 million, bringing its total holdings to an impressive 847,363 BTC. While management views these moves as strengthening the company's long term position, some investors were less enthusiastic.

Critics argued that capital being directed toward reserves and additional Bitcoin purchases may limit near term upside for STRC holders. The market's reaction suggests investors were looking for a different use of capital, leading to selling pressure following the announcement. Whether the pullback proves temporary or signals broader concerns will likely depend on how investors view Strategy's balance sheet strategy in the months ahead.

Tokenized stocks just recorded their biggest trading day ever, with onchain equity volume reaching a record $137 million. An incredible 96% of that activity took place on Solana, further cementing the network's leadership in the fast growing sector. Backpack emerged as the clear winner, capturing roughly 74% of all trading volume during the record setting day. Much of the excitement was driven by SPCX, a tokenized stock product launched through Backpack and Sunrise, which alone generated around $115 million in volume. Before SPCX arrived, platforms like xStocks and PreStocks had been leading much of the competition in the space.

The milestone highlights growing interest in bringing traditional financial assets onto blockchain networks where they can trade around the clock. While tokenized equities are still in their early stages, this record suggests demand is accelerating far faster than many expected.