Bitcoin plummeted below $90,000, sparking fears of the end of the bull market. Despite this, hundreds of millions of dollars flowed into crypto companies, indicating strong institutional interest. Republic Technologies secured $100 million in financing through a zero-interest convertible note, signaling a maturing market trend in fundraising.

Kraken raised a massive $800 million at a $20 billion valuation, with $200 million coming from Citadel Securities. The exchange is moving towards going public with the IPO filing. Meanwhile, Michael Saylor’s Strategy purchased 8,178 BTC for $835.6 million, solidifying its position as the largest corporate Bitcoin treasury.

Tether is expanding into the commodity-lending business, deploying $1.5 billion in credit across cash and stablecoin. The stablecoin issuer plans to finance commodity trades, including agricultural goods and oil. Tether has a significant presence in the commodities space through its tokenized gold product, Tether Gold.

Republic Technologies raised $100 million through a zero-interest convertible note facility to expand its Ether holdings, limiting shareholder dilution. The company contrasted its approach with other Ether-focused companies to build a sizable position in the digital asset. In total, 18 publicly traded companies hold Ether treasuries.

Read more at Cointelegraph: Bitcoin Plunge, Kraken IPO and $100M Ether Bet