Eightco Holdings (NASDAQ: ORBS) pulled off a real power play on Wall Street Thursday, with shares jumping roughly 25% after the company announced it had locked in $125 million in new institutional commitments from a lineup that includes Bitmine Immersion Technologies, Cathie Wood's ARK Invest, and Payward, the parent company of crypto exchange Kraken.

 

The raise was led by Bitmine, which committed $75 million, with ARK Invest pledging at least $25 million and Payward rounding out the headline trio with another $25 million of its own. The full investor roster behind ORBS reads like a who's who of the crypto world: Coinfund, Pantera Capital, GSR, FalconX, Discovery Capital Management, and the World Foundation are all listed as backers.

 

But the capital raise wasn't even the most eyebrow-raising piece of news in Thursday's announcement. Eightco simultaneously disclosed it had already closed initial strategic investments of $50 million into OpenAI and $25 million into MrBeast and Beast Industries. 

 

The OpenAI investment, worth approximately $52.5 million in economic interests in the company's equity, closed on March 6, just days before this announcement.

 

 

To understand how we got here, we kind of have to dive a bit deeper. Eightco has had one of the stranger corporate transformations of recent years. The Pennsylvania-based company pivoted from inventory management to cryptocurrencies and is currently developing a universal framework for digital identity and authentication. Not too long ago, its main business was making cardboard boxes through a subsidiary called Ferguson Containers.

 

Now, the company's identity is built around Worldcoin (WLD), the biometric-based digital identity project co-founded by OpenAI CEO Sam Altman. As of March 5, 2026, Eightco's treasury holdings included 277,222,975 WLD tokens, 11,068 ETH, and $82 million in cash. That WLD position, the company says, represents nearly 10% of the token's circulating supply, making ORBS the largest public market holder of Worldcoin on any exchange.

 

The company continues to hold Worldcoin and Ethereum as a long-term believer in the world's second-most valuable cryptocurrency, and frames its Worldcoin stake as foundational to a "proof of humanity" authentication layer it's building out.

 

The vision, as ORBS tells it, is to combine Worldcoin's biometric identity infrastructure with OpenAI's foundational models to create something at the intersection of AI verification, blockchain rails, and mass consumer reach. And it seems that it's clearly a compelling enough pitch to draw in some serious institutional names.

Who's Backing It, and Why

Tom Lee, Chairman of Bitmine, is joining Eightco's Board of Directors, while Brett Winton, Chief Futurist at ARK Invest, will serve as an advisor to the board.

 

Lee's involvement through Bitmine is notable. Bitmine itself has been on an aggressive crypto treasury strategy of its own, positioning itself as the leading Ethereum treasury company in public markets. Bitmine has combined crypto, cash, and "moonshot" holdings ranging well into the billions, and adding Eightco to that ecosystem tightens the connection between the two companies considerably. Lee getting a board seat means this isn't a passive financial bet.

 

His take on the investment was direct. Bitmine sees Eightco sitting at the center of some of the most important future needs and developments in AI, with what Lee described as tremendous synergy between Proof of Human via Worldcoin, OpenAI's foundational models, and the reach of the world's biggest content creator in MrBeast.

 

ARK Invest's Cathie Wood weighed in too, describing ORBS as taking on a unique initiative at the intersection of AI, blockchain, and creator-driven platforms.

 

Kraken's Arjun Sethi was perhaps the most philosophical about the whole thing. The Payward co-CEO framed it around power-law dynamics, suggesting that a small number of platforms tend to capture a disproportionate share of value in technological revolutions, and that ORBS is trying to position itself at the convergence of AI, cryptographic infrastructure, and global digital distribution.

MrBeast and the Distribution Play

The $25 million bet on Beast Industries deserves its own look. On March 10, Eightco invested approximately $25 million in shares of Beast Industries, with $7 million of that amount structured as committed capital that may be funded within 60 days in exchange for additional stock.

 

Beast Industries is the broader enterprise behind YouTube megastar Jimmy Donaldson, better known as MrBeast. The company spans entertainment, consumer products, and CPG, with the snack brand Feastables among its faster-growing launches. MrBeast's YouTube channel has over 450 million subscribers and generates more than 5 billion monthly views across all channels.

 

For a blockchain infrastructure play trying to build out digital identity at scale, having a meaningful stake in the world's most-subscribed YouTube channel is an unusual but not entirely illogical move. Distribution is distribution, and Eightco seems to be betting that the future of human authentication online will require massive consumer reach to actually work.

 

Taken together, Eightco is making a bold argument that the convergence of AI identity verification, blockchain infrastructure, and mass consumer distribution represents a huge opportunity, and that a small public company out of Pennsylvania is somehow positioned to sit at the center of it.

 

Whether the OpenAI stake, the MrBeast bet, the Worldcoin treasury, and the Ethereum holdings actually compound into something concrete is still up in the air. The risk disclosures in ORBS's own SEC filings acknowledge this as well, flagging the company's lack of control over private companies where it holds minority stakes, and the ongoing challenges of maintaining Nasdaq listing compliance while burning cash.

 

But the investor lineup announced today isn't made up of amateurs. Pantera, Brevan Howard, Coinfund, and ARK all know what they're doing, and they all decided this particular combination of bets was worth backing.

 

 

Image credit: Binance.com

 

 

Strategy, the world's largest public holder of Bitcoin, has deepened its Bitcoin bet, completing its 101st Bitcoin purchase. 

 

According to a filing made to the US Securities and Exchange Commission on Monday of this week, Strategy acquired 3,015 bitcoins for $204.1 million last week.

 

Based on information available on the US SEC website, the average purchase price for this transaction was $67,700 per BTC, below the company's average acquisition price of $75,985. With this latest purchase, Strategy now has total Bitcoin holdings of 720,737 BTC.

 

Image credit: sec.gov

Saylor’s Long-Term Bitcoin Strategy

Michael Saylor, often regarded as the Bitcoin bull, has long been one of the strongest advocates of Bitcoin's long-term value. His belief system was first made public in August 2020 when his company, Strategy, purchased 21,454 Bitcoins for about $250 million. 

 

Rather than continue holding traditional assets in its treasury, Strategy announced it would be making Bitcoin a core part of its treasury reserve. 

 

Regarding this 2020 purchase, Saylor himself said: 

 

"This investment reflects our belief that bitcoin, as the world's most widely adopted cryptocurrency, is a dependable store of value and an attractive investment asset with more long-term appreciation potential than holding cash." 

 

Since that day, Strategy has steadily accumulated Bitcoin, even during bearish market seasons. 

 

To understand Strategy's stacking strategy, here is an overview of how it has accumulated Bitcoin over the last six years:

 

2020: Acquired 70,470 BTC (started Aug. 11 with the first purchase of 21,454 BTC; reached total holdings of 70,470 by Dec. 21)

2021: Acquired 53,921 BTC (total holdings reached 124,391 BTC by Dec. 30).

2022: Acquired 8,109 BTC (total holdings reached 132,500 BTC by year-end).

2023: Acquired 56,650 BTC (total holdings reached 189,150 BTC by Dec. 26).

2024: Acquired 257,250 BTC (total holdings reached 446,400 BTC by Dec. 30).

2025: Acquired 226,097 BTC (total holdings reached 672,497 BTC by Dec. 29).

2026: Has acquired 48,240 BTC, with total holdings reaching 720,737 BTC.

 

By steadily acquiring Bitcoin through open-market transactions, Strategy has cemented its position as the world's largest public holder of Bitcoin, making these purchases in a way that does not cause any short-term imbalance in the crypto market.

 

 

How the Market Reacted

Upon the announcement of this news, MicroStrategy's common stock (MSTR) experienced an uptick, jumping from $123 last Monday to $129 on Friday, a 4.7% increase. 

The biggest gain for the MSTR stock, however, occurred on Wednesday, when it rose to $135. This increase suggests renewed investor confidence in Saylor's bitcoin purchase strategy. Even in bearish market conditions, Saylor's vision for Bitcoin remains unchanged.

 

Image credit: investing.com

 

Despite experiencing sharper selling pressure in February, with its price falling 14.8% to 15% from its January closing price of $78,621, Bitcoin experienced a slight uptick in its price, rising from $64,000 last Monday to $65,000 by Friday of last week.

 

FalconX, a leading institutional digital-assets brokerage and trading platform, has agreed to acquire 21Shares, a prominent issuer of crypto exchange-traded products (ETPs) and ETFs. The deal was announced in late October 2025, though the specific terms have not been publicly disclosed.

This acquisition brings together FalconX’s strength in execution, trading infrastructure and institutional client base with 21Shares’ deep experience in product development, distribution and listed crypto investment vehicles.

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Who Are the Players?

FalconX was founded in 2018 and has grown into a major player in crypto asset brokerage, serving over 2,000 institutional clients and facilitating more than $2 trillion in trading volume. The company also has a valuation of about $8 billion as of its 2022 funding round.

21Shares, headquartered in Switzerland (with operations in New York and London), was founded in 2018 and is known for building one of the world’s largest suites of crypto ETPs. As of September 2025, it managed assets in excess of $11 billion across 50-plus listed products. The firm had also begun filing for U.S. crypto index ETFs and liquidated certain futures-based ETFs earlier in the year.

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Why This Acquisition Matters

Expansion into Regulated Investment Products

The deal enables FalconX to move beyond its core services—market making, liquidity supply and institutional trading—into the realm of regulated investment vehicles. With 21Shares’ expertise in ETP/ETF structuring and listings, FalconX can offer crypto exposure via familiar formats to institutional and retail investors alike.

Convergence of Traditional Finance and Crypto

This transaction highlights the deepening overlap between traditional financial markets and digital asset markets. Asset managers, custodians and broker-dealers increasingly view crypto investment products as mainstream opportunities, not just niche plays. The acquisition positions FalconX and 21Shares to capitalize on that shift.

Synergies in Product Development and Distribution

FalconX brings its institutional trading infrastructure, global client base, and risk/credit management framework to the table. Meanwhile, 21Shares contributes product architecture, index methodology, listing track record and global distribution channels. Combined, this creates a platform capable of launching structured crypto products at scale.

Strategic Timing

The acquisition comes at a time of regulatory clarity and product expansion in the crypto investment space. The U.S. Securities and Exchange Commission and other global regulators have recently approved or streamlined exchange-traded crypto product filings. By securing 21Shares now, FalconX gains immediate access to a market moving fast toward regulated crypto exposure.

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Implications and What to Watch

For Investors

Investors may benefit from a broader array of crypto investment vehicles—especially those who prefer regulated formats over direct asset ownership. This could mean increased product choice, improved liquidity and potentially deeper institutional participation in crypto markets.

For the Crypto Industry

The deal may spur further consolidation in digital assets infrastructure. Firms with strong product capabilities, regulated distribution and institutional access will increasingly dominate. Smaller players may struggle unless they carve out niche specialties.

Regulatory and Geographical Considerations

As FalconX and 21Shares expand into various jurisdictions, regulatory compliance becomes critical. How well the enlarged entity navigates regulatory regimes in the U.S., Europe and Asia-Pacific will influence its long-term success.

Product Pipeline

What comes next? Potential areas include U.S. crypto index ETFs, altcoin-focused ETFs, structured products (synthetics, derivatives), and possibly tokenized asset offerings. The product pipeline will likely be watched closely by investors and market watchers.

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Final Thoughts

FalconX’s acquisition of 21Shares represents a bold strategic move in the evolution of crypto investment infrastructure. By combining trading and brokerage operations with product development and listing expertise, the two firms together are poised to accelerate the shift of digital assets into regulated investment frameworks.

For investors, this means more familiar and accessible ways to participate in crypto markets. For the industry, it’s a clear sign that consolidation and institutionalization are accelerating. The ultimate success will hinge on execution—product launches, regulatory navigations and global distribution.

 

If FalconX and 21Shares deliver on their promise, the acquisition could mark a pivotal moment in crypto’s transition from speculative to institutional-grade investment.