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EOS Rebrands to Vaulta as it Shifts Focus to Web3 Banking

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EOS Network, known for its scalable blockchain infrastructure, is rebranding to Vaulta as it pivots toward Web3 banking. The transition comes with a token swap that is provisionally scheduled for the end of May.

It also comes with the launch of the Vaulta Banking Advisory Council, a group of financial and blockchain industry experts focused on bridging the gap between traditional banking and decentralized systems. Members include executives from Systemic Trust, Tetra, and ATB Financial, according to a press release shared with CoinDesk.

«Vaulta’s strategic realignment towards Web3 banking is a significant development for the industry,» said Alexander Nelson, senior director of digital finance at ATB Financial. «This move not only opens the door for traditional funds to enter decentralized finance through Bitcoin but also paves the way for greater institutional acceptance.»

Vaulta plans to maintain its technical infrastructure from the EOS Network, including its smart contract architecture, decentralized database, and inter-blockchain connectivity. The platform will integrate with exSat, a Bitcoin-focused digital banking solution, as part of its Web3 banking initiative.

The project, per the release, is set to leverage various partnerships to expand its Web3 banking ecosystem, including with Ceffu, Spirit Blockchain, and Blockchain Insurance. The firm is expected to announce further strategic partnerships in the coming months.

“This transformation represents more than just a name change; it’s a decisive step forward in our mission to deliver open, accessible financial access for everyone. Vaulta is the product of years of planning, strategic development, and thoughtful design, culminating in a holistic Web3 banking approach,” said Yves La Rose, founder and CEO of Vaulta Foundation.

The team described Vaulta’s approach to Web3 banking as two-pronged, offering blockchain-based services tailored for banks and neobanks, and offering a broader financial ecosystem featuring exSat’s Bitcoin banking solutions, blockchain insurance, tokenized real-world assets, and more.

Its network has maintained uninterrupted operation for nearly seven years, emphasizing stability as a key factor in its approach, he added. Advancements in the network’s speed, security and interoperability mean the network is “now positioned for mainstream adoption.”

The rebrand comes as regulatory frameworks for digital assets, including the European Union’s Markets in Crypto-Assets (MiCA), become more defined. La Rose said these developments make it the “right moment” to align Vaulta’s brand with its focus on Web3 banking.

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Tom Lee’s BitMine Sells Stock at $70 to Raise Additional $365M for ETH Treasury

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BitMine Immersion Technologies (BMNR), chaired by Tom Lee, said Monday it now controls more than 2% of ether’s supply and raised $365 million to expand its holdings.

The company announced this morning that its treasury, valued at $11.4 billion as of Sept. 21, consists of 2,416,054 ETH at $4,497 per token, 192 bitcoin (BTC), $345 million in cash and a $175 million equity stake in Eightco Holdings.

BitMine described itself as the world’s largest public holder of ether and the second-largest crypto treasury overall, trailing only Michael Saylor’s Strategy Inc. (MSTR).

BitMine is chaired by Tom Lee, who is also head of research at Fundstrat and chief investment officer at Fundstrat Capital.

Lee said the company is pursuing what he calls the “alchemy of 5%,” aiming to accumulate 5% of the total ETH supply. “Wall Street and AI moving onto the blockchain should lead to a greater transformation of today’s financial system. And the majority of this is taking place on Ethereum,” Lee said.

Raising funds to grow the treasury

A few hours later, BitMine announced a securities purchase agreement with an institutional investor covering 5.2 million shares of common stock at $70 per share — about 14% above its Sept. 19 close — along with warrants for up to 10.4 million additional shares at $87.50.

The offering is expected to raise $365 million in gross proceeds, with the warrants potentially adding another $913 million, bringing total potential proceeds to about $1.28 billion.

Lee said the primary use of funds would be to expand BitMine’s ether holdings, calling the premium pricing “materially accretive” to existing shareholders.

BitMine added that institutional demand reflected growing interest in ethereum as Wall Street integrates blockchain into financial infrastructure.

As of 11:13 a.m. ET, BMNR shares were trading around $55.79, down 9% on the day, according to Google Finance.

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Clock’s ticking: Get hands-on experience volunteering at TechCrunch Disrupt 2025

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September 30 is the final deadline to apply to volunteer at TechCrunch Disrupt 2025 — and we’re officially in countdown mode. Whether you dream of launching your own startup, building community, or producing global-scale events, volunteering gives you an unmatched, behind-the-scenes look at how a world-class tech conference comes to life in San Francisco.

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PayPal Ventures Invests in Stable to Expand PYUSD Reach

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PayPal Ventures has invested in Stable to bring PayPal USD (PYUSD) to Stablechain, aiming to expand its distribution and make global payments faster and cheaper, according to a blog post Monday.

Stable’s blockchain, built for stablecoin transactions with sub-second finality and low fees, is designed to fix the infrastructure issues that have slowed adoption, the company said.

The size of the investment was not disclosed.

Stablecoins are cryptocurrencies whose value is tied to another asset, such as the U.S. dollar or gold. They play a major role in cryptocurrency markets, providing among other things a payment infrastructure, and are also used to transfer money internationally.

Tether’s USDT is the world’s largest stablecoin, followed by Circle’s (CRCL) USDC.

Both companies said the move will unlock new commerce use cases, particularly in emerging markets where dollar-based payments have the biggest impact.

With PYUSD now live on Stablechain, the partnership marks a step toward taking stablecoins beyond crypto-native use and into everyday payments and financial products, Stable said.

Read more: U.S. Stablecoin Battle Could Be Zero-Sum Game: JPMorgan

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