Strategy Overhauls Bitcoin Metrics With Net Per Share

Strategy rolled out a set of new measures that strip out debt and preferred-stock claims to show how much of its stash belongs to common shareholders. Investor relations head Chaitanya Jain said the yardsticks had to evolve as the business moved toward digital credit.

The centerpiece is a net reserve of roughly $35 billion, what remains after subtracting $22.2 billion in senior claims from the firm's $57 billion Bitcoin pile and $3.2 billion of cash. Dividing that residual by a fully diluted share count yields net bitcoin per share.

That figure has climbed from $13 at the end of 2020 to $95, a 43% compound annual growth rate against bitcoin's 16%. Michael Saylor framed the shift grandly, posting that bitcoin capital markets require an entirely new financial language.

The overhaul arrives with MSTR near $93 and far below its 2024 peak, days ahead of second-quarter earnings. Measured the old way the stock looked to trade at a discount, yet the new formula lifts mNAV to parity at 1.02x.

World Foundation Raises $52.5 Million in Locked Token Sale

World Foundation raised $52.5 million through a strategic sale of its WLD token, with every purchased coin subject to a one-year lockup. Pantera Capital led the first close alongside Bain Capital Crypto, Eightco Holdings, Selini Capital, and Susquehanna Crypto.

Proceeds will expand World ID technology for organizations, consumers, and AI agents globally, three years after the network launched into production. More than 39 million people have joined, with over 18 million completing Orb verification and generating 475 million proofs.

BitMart Winds Down Exchange as CEO Says He Was Sidelined

Crypto exchange BitMart began winding down its trading platform, suspending registrations and deposits ahead of a full halt on August 26. The firm cited an evaluation of operating conditions, market environment, and future strategic direction in its Saturday notice.

Global CEO Nenter Chow said the company terminated his employment on July 24 and that he learned of the closure only when it went public. BMX slid nearly 60% in a day, weeks after BitMart touted 256% growth in assets under management.

EU Names Justin Sun's HTX in Russia Sanctions Package

The European Union added HTX to its 21st sanctions package, listing the exchange under operator Huobi Global on an annex of firms accused of significantly frustrating its Russia measures. People in the bloc face a transaction ban from August 23, though assets stay unfrozen.

The package widened crypto measures to 14 platforms across Georgia, Panama, the UAE, and Belarus. Owned and advised by Justin Sun, the venue reported over $3 trillion in 2025 volume and rejects the accusations, calling flagged wallet activity routine security operations.

Data of the Day

Tokenized real-world assets became Hyperliquid's largest trading category for the first time, generating $25.1 billion between July 13 and July 19. That accounted for 52% of the exchange's $48.2 billion weekly total, outstripping every other asset class combined.

ARK Invest noted the venue's RWA market alone exceeded the combined crypto perpetual volume of every rival DEX. Holders grew 32% to 1.25 million over the month, while Hyperliquid booked $7.6 million in weekly revenue.

More Breaking News

• Bitcoin ETFs shed $225.2 million in a single session, snapping a seven-day inflow streak as renewed US-Iran hostilities pushed the token briefly below $65,000.
• Wise plans to resubmit its national trust bank application under the GENIUS Act framework after the OCC denied its original filing over Federal Reserve master account policies.
• Robinhood is reportedly in talks to place yes-or-no event contracts supplied by CryptoCom, expanding a prediction markets hub launched in March 2025.
• Three crypto advocacy groups urged Senate leaders to prioritize floor consideration of the CLARITY Act, as Democrats blasted the bill's ethics provisions as inadequate against corruption.
• The CFTC warned prediction markets against submitting broad template-style certifications, its second such advisory in recent months as event contracts proliferate across sports and politics.
• India's Internet Freedom Foundation called a government order unconstitutional after cybercrime authorities gave GitHub three hours to disable repositories for Jack Dorsey's decentralized messaging app BitChat.
• Claude Opus 5 outscored Fable 5 on most major benchmarks at half the price, hitting 43.3% on agentic coding tests where Anthropic's frontier model managed 33.7%.

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