Steak 'n Shake Reports Significant Sales Growth Following Bitcoin Payment Integration

US restaurant chain Steak 'n Shake has observed a notable increase in same-store sales since integrating Bitcoin as a payment option nine months ago, according to reports. The company indicated that revenue generated from Bitcoin transactions will be allocated to its strategic Bitcoin reserve. These funds are also designated for employee rewards paid in Bitcoin. Steak 'n Shake stated that it has successfully combined its cash-flow-generating physical operations with the Bitcoin ecosystem.

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According to blockchain analytics firm Bubblemaps, Hayden Davis, a figure associated with the LIBRA token issuance, has reportedly re-entered Solana meme coin trading. Recent on-chain data indicates significant losses exceeding $3 million across several tokens, including PUMP, PENGUIN, and TROVE. Wallet activity shows Davis's most recent transactions occurred within the last five days. Specifically, losses on the PUMP token are estimated to be around $2.5 million, with an additional $100,000 lost on PENGUIN.

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Ethereum co-founder Vitalik Buterin has emphasized that users are free to utilize the Ethereum network regardless of their agreement with his views on application design, political stances, DeFi, privacy payments, or AI. Buterin underscored that Ethereum, as a decentralized protocol, should uphold its principles of being permissionless and censorship-resistant. However, he also stated that this neutrality does not preclude individuals or entities from making value judgments and offering public criticism of applications built on the network. Buterin clarified that neutrality should be inherent to the protocol layer, while individuals and communities are encouraged to articulate their own principles and cultivate an ecosystem that aligns with their values, while also accepting that Ethereum will be utilized in diverse ways by various ideologies.

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Kraken, a prominent cryptocurrency exchange, has officially launched its Chinese-language social media presence to foster enhanced engagement with the Mandarin-speaking community. This strategic move follows Kraken's recent successful fundraising round, which secured $800 million and valued the company at $20 billion.

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Wintermute has launched a new over-the-counter (OTC) trading service for tokenized gold, specifically catering to institutional clients. This service supports Pax Gold (PAXG) and Tether Gold (XAUT), offering algorithmic optimization for spot execution. It also facilitates bilateral quoting and hedging transactions with major stablecoins like USDT and USDC, fiat currencies, and other prominent cryptocurrency assets.

Evgeny Gaevoy, CEO of Wintermute, highlighted the significant growth in the on-chain gold market, which has expanded from approximately $2.99 billion to $5.4 billion within a three-month period. The company projects this market to reach approximately $15 billion by 2026.

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According to Onchain Lens, World Liberty Finance has deposited 235 million WLFI tokens, valued at approximately $24.13 million, to Binance. The transaction originated from address 0xFef30c262676dE9AF5e5E9Ba999cF774000b14B4.

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Multi-Chain Lending Protocol ZeroLend to Cease Operations

ZeroLend, a multi-chain lending protocol that has been operational for approximately three years, has announced its decision to gradually wind down its operations. The protocol cited several factors contributing to this decision, including declining liquidity across multiple supported chains, interruptions in oracle support, and persistent challenges in achieving sustainable long-term revenue.

In response to the shutdown, ZeroLend has adjusted most of its markets to a 0% Loan-to-Value (LTV) ratio, urging users to withdraw their assets as soon as possible. For funds currently locked on-chain, a process involving timelock upgrades and contract adjustments will facilitate their return.

Additionally, users holding LBTC on the Base chain will be eligible for partial refunds.

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Nexo, a cryptocurrency lending platform, has officially re-entered the U.S. market approximately three years after its withdrawal. The company is relaunching with a comprehensive suite of digital asset services, including fixed and flexible yield accounts, crypto-collateralized credit lines, an integrated crypto exchange, and fiat on/off-ramps. These services will be supported by U.S. compliant platform Bakkt for transactions and infrastructure. Nexo previously exited the U.S. in 2022 due to conflicts with state and federal regulators over its Earn interest product. The company cited a more favorable crypto policy environment as the reason for its return. Nexo currently manages approximately $11 billion in assets and has processed over $371 billion in global transactions. (CoinDesk)

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Standard Chartered Slashes XRP Price Target by 65%, Cites Market Headwinds

Standard Chartered Bank has significantly revised its year-end price target for XRP, lowering it from $8 to $2.80, a reduction of approximately 65%. The financial institution also anticipates continued pressure on the broader cryptocurrency market in the short term.

Geoffrey Kendrick, Head of Digital Asset Research at Standard Chartered, commented on the recent "extremely challenging" performance of digital assets, which prompted the adjustment of forecasts across the asset class.

In addition to XRP, Standard Chartered has also reduced its year-end price targets for other major cryptocurrencies: Bitcoin (BTC) has been lowered to $100,000 (from $150,000), Ethereum (ETH) to $4,000 (from $7,000), and Solana (SOL) to $135 (from $250).

The analysis was reported by DL News.

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deBridge, a cross-chain protocol, has unveiled its Model Context Protocol (MCP). This new protocol enables AI agents and development tools to execute non-custodial cross-chain swaps, bridging, and multi-step on-chain operations across EVM-compatible chains and Solana. According to deBridge, MCP offers deterministic execution and MEV-aware routing, ensuring users retain self-custody of their assets. The protocol simplifies operations through a single interface for wallet orchestration, chain switching, and transaction retries.

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South Korean police are investigating the disappearance of 22 Bitcoin tokens, valued at approximately 21 billion Korean Won (about $15.4 million USD), from evidence held by the Gangnam Police Station. These digital assets were voluntarily submitted as evidence in a 2021 investigation. Authorities confirmed that the physical cold storage device was not breached, but the assets were internally transferred. An investigation into the internal access and potential involvement of personnel is underway. The incident came to light during a nationwide audit following a separate case involving the theft of 320 Bitcoin from the Gwangju District Prosecutors' Office.

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Logan Paul has set a new public auction record for trading cards, selling his rare "Pikachu Illustrator" Pokémon card for $16.492 million. The card, one of only 39 produced in the late 1990s for a Pokémon illustration contest, achieved a unique Grade 10 rating from PSA. The sale was facilitated by Goldin Auctions. Following the transaction, Paul is expected to realize a profit exceeding $8 million after deducting fees.

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