Edgen Crypto·Oct 09 2025, 02:30
[1] Deling Holdings: Has Acquired Approximately US$5.7 Million in Private Equity Investments, Will Focus on Tokenization of Private Equity from ByteDance and Other Companies (https://www.techflowpost.com/newsletter/detai ...)[2] Deling Holdings to Acquire $21.85 Million in Bitcoin Mining Machines, Shares Rise - Edgen (https://vertexaisearch.cloud.google.com/groun ...)[3] TikTok owner ByteDance's tech arm collaborating with Sui builders on web3 gaming, socialFi | The Block (https://vertexaisearch.cloud.google.com/groun ...)
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Nov 30 2025, 20:15
Méliuz Adopts Bitcoin Treasury, Acquiring $4.1M in BTC as First for a Brazilian Public Firm
## Executive Summary **Méliuz** (CASH3.SA), a Brazilian financial technology company, has officially become the first publicly traded firm in Brazil to incorporate **Bitcoin** into its treasury strategy. Following approval from 66% of its shareholders, the company allocated 10% of its cash reserves, amounting to a $4.1 million purchase of 274.52 BTC. This strategic pivot is designed to mitigate the risks of currency devaluation and capture potentially higher long-term returns compared to traditional fixed-income assets. ## The Event in Detail In a securities filing, **Méliuz** confirmed its new treasury policy, which allows for up to 10% of its cash to be held in **Bitcoin**. The company has moved away from a portfolio previously concentrated in traditional financial assets tracking Brazil's CDI interbank deposit rate, which is influenced by the country's benchmark interest rate of 13.75%. According to an internal study guiding the decision, **Méliuz** leadership expressed concerns that official inflation indices do not adequately reflect the real loss of purchasing power. The firm is therefore positioning **Bitcoin** as a scarce digital asset to preserve capital and generate shareholder value over time. The acquisition of 274.52 BTC for $4.1 million marks the first tangible step in executing this new strategy. ## Business Strategy and Financial Mechanics The move by **Méliuz** is explicitly inspired by the corporate **Bitcoin** playbooks of U.S.-based **MicroStrategy** (MSTR) and Japan's **Metaplanet** (3350.T). The stated mission is "to accumulate **Bitcoin** in an accretive way for shareholders, using its cash generation and corporate and capital market structures to increase exposure to the asset over time." To manage the inherent volatility of the asset, the company has adopted a conservative custodial approach. Diego Kolling, Head of **Bitcoin** Strategy at **Méliuz**, stated that 80% of the company's **Bitcoin** holdings are secured in cold storage. The remaining 20% may be used to generate yield through derivatives, with potential future strategies including leveraging the Lightning Network or issuing **Bitcoin**-backed debt. ## Market Implications **Méliuz**'s adoption of a **Bitcoin** treasury sets a significant precedent in Latin America. As the first publicly listed company in Brazil to make such a move, it may encourage other corporations in the region facing similar inflationary pressures and currency instability to consider **Bitcoin** as a viable treasury reserve asset. Analysts at UBS BB noted that the strategy, while new to the Brazilian market, aligns with a growing global trend of companies seeking alternative stores of value. ## Broader Context This event is part of a larger, accelerating "Corporate Treasury Revolution" where **Bitcoin** is increasingly viewed as "digital capital." The trend marks a significant evolution in corporate finance, forcing investors and analysts to evaluate companies through the dual lens of operational performance and digital asset management. This shift introduces new financial metrics and requires a sophisticated understanding of risk management and financial engineering, fundamentally altering how corporations approach treasury and capital preservation.
Nov 30 2025, 18:16
Brazil to Launch 'DeCripto' Reporting System in July 2025, Tightening Crypto Oversight
## Executive Summary Brazil's federal tax authority, the **Receita Federal**, has announced it will implement a new, more robust crypto-asset reporting system named **DeCripto**, starting in July 2025. This regulatory enhancement is a direct response to the massive volume of stablecoin transactions, which now account for 90% of the country's $6-8 billion monthly cryptocurrency volume. The new framework, which replaces the existing IN 1.888 rule, aligns Brazil with the Organisation for Economic Co-operation and Development's (**OECD**) Crypto-Asset Reporting Framework (**CARF**), signaling a definitive move toward greater tax transparency and a more stringent regulatory environment for digital assets. ## The Event in Detail The transition to the **DeCripto** system marks a significant escalation in the regulatory oversight of Brazil's rapidly growing cryptocurrency market. According to the **Receita Federal**, the primary impetus for the new system is the overwhelming dominance of stablecoins in the market, which are often used for non-speculative purposes, indicating deep integration into the financial lives of Brazilians. The current reporting rule, IN 1.888, will be decommissioned in favor of this more comprehensive framework designed to capture a granular level of transactional data from crypto service providers operating in the country. ## Financial Mechanics of the New Regulation A core component of Brazil's new strategy is its alignment with the **OECD's Crypto-Asset Reporting Framework (CARF)**. This framework mandates the international exchange of information on crypto-asset transactions, allowing tax authorities to access data on foreign crypto accounts held by their residents. This move is designed to combat international tax evasion and ensure compliance across borders. Further tightening its grip, the Brazilian government will introduce significant tax changes effective from 2026: * A flat **17.5% capital gains tax** will be levied on all cryptocurrency profits. * The previous tax exemption on monthly gains up to **BRL 35,000** will be entirely eliminated. These measures create a much stricter tax regime, removing prior incentives and ensuring all profits from crypto trading are subject to a uniform tax rate, regardless of volume. ## Market Implications The new regulations are expected to have a multifaceted impact on the Brazilian crypto market. For crypto service providers, the **DeCripto** system and **CARF** alignment will necessitate significant investments in compliance infrastructure, potentially increasing operational costs. The introduction of a flat 17.5% capital gains tax and the removal of the monthly exemption may temper speculative trading activity. However, this stricter regulatory environment could also legitimize the market, making it more attractive to institutional investors seeking clear rules of engagement. This regulatory clampdown in Brazil stands in contrast to recent developments in the **United States**, where the Treasury Department recently scrapped proposed crypto broker reporting rules, highlighting a growing divergence in global regulatory approaches. ## Broader Context and Expert Commentary Brazil's crypto market growth is underpinned by strong fundamentals, including high digital literacy, the widespread adoption of the **Pix** instant payment system, and public sentiment favoring digital assets as a hedge against financial instability. A study by **Mercado Bitcoin** projected that half of Brazil's population could adopt cryptocurrencies by 2030, with monthly transaction volumes expected to reach $9 billion. The dominance of stablecoins for non-speculative use cases, as highlighted by a16z Crypto's "State of Crypto 2025" report, validates the trend observed by Brazilian authorities. Financial analyst **Miles Harding** notes this is part of a global "tightening grip on digital finance," with Brazil positioning itself at the forefront of this regulatory shift. The government's actions indicate a clear intent to integrate the crypto economy into its formal financial system, balancing innovation with robust fiscal oversight.
Nov 30 2025, 16:02
Bitcoin Exhibits Trend Shift, Consolidates Near $91,000 Amid Mixed On-Chain Signals
## Executive Summary **Bitcoin (BTC)** has executed a significant technical trend reversal, transitioning from a pronounced downtrend to a confirmed uptrend. This structural shift has been followed by a period of consolidation, with the asset holding near the **$91,000** price level. While the technical posture appears bullish, analysis of on-chain data and expert commentary reveals a complex market environment. Indicators of network health remain strong, yet some metrics suggest underlying bearish pressure. The market is now looking toward key resistance levels and macroeconomic factors, particularly global liquidity trends, to determine the sustainability of the current rally. ## The Event in Detail The primary development is a clean "Break of Structure" (BOS) on the Bitcoin price chart, which signals the conclusion of the prior downtrend and the establishment of a new uptrend. Following this bullish confirmation, Bitcoin’s price rallied to reclaim the **$91,000** mark. However, the upward momentum has since stalled, leading to a consolidation phase around this level. This price action suggests a degree of market exhaustion as bulls and bears seek equilibrium after the sharp trend reversal. The current stability is a critical juncture, as the resolution of this consolidation will likely dictate the market's next major directional move. ## Market Implications The confirmed uptrend provides a technically bullish framework for the near term. However, the market's sensitivity to broader financial conditions remains a key factor. Research from the **I/O Fund** highlights the inverse correlation between **Bitcoin** and the **U.S. Dollar Index (DXY)**, noting that significant bull markets historically coincide with a declining dollar. This suggests that global liquidity conditions and central bank policies will continue to heavily influence Bitcoin's price trajectory. Furthermore, the market is still processing the impact of a recent liquidation cascade that began in October, underscoring the persistent risks associated with leverage. While network adoption, measured by the steady increase in non-zero-balance addresses, points to healthy underlying demand, weakening volume and RSI trends signal increased risk. ## Expert Commentary Market analysis firms offer a cautious but forward-looking perspective. According to **Delphi Digital**, a sustained move into a new uptrend would require **Bitcoin** to decisively surpass the **$103,500** resistance level. This view adds a layer of caution to the recent structural shift. Analysts at **The Bitcoin Layer** provide a more nuanced view, noting that while the price structure has turned bullish, several on-chain metrics have shifted into "bear territory." They identify the short-term holder cost basis as a critical support level to watch. In a recent analysis, they stated: > "Johan explains how trend structure, RSI momentum, realized profit behavior, and valuation zones fit together, what would confirm a reversal, and why the four year cycle may be losing relevance as Bitcoin matures into an institutional asset." This commentary suggests that a multi-faceted approach, combining technical price action with deep on-chain analysis, is necessary to navigate the current market. ## Broader Context The current market dynamics occur as **Bitcoin** continues its evolution into an institutional-grade asset. As noted by market researchers, this maturation is potentially diminishing the historical relevance of the "four-year cycle" that has long defined Bitcoin's price movements. The growing participation of institutional investors introduces different capital flows, risk management strategies, and correlations with traditional financial markets. This secular shift implies that macroeconomic factors, such as global liquidity and investor sentiment patterns, may play a more dominant role in driving price cycles than in previous eras. The current consolidation phase, therefore, represents not just a short-term technical pattern but also a test of Bitcoin's changing role within the broader global financial landscape.