Bitcoin ATH, ICE–Polymarket Deal, Tether Payments, Plume

Big Tech companies that once dismissed Bitcoin (BTC) as a balance sheet asset are now watching Strategy, led by Executive Chairman Michael Saylor, amass a digital asset treasury approaching the size of their own cash piles. The surge comes as Bitcoin hit a new all-time high above $126,000 this week, driven by investor demand for hard assets seen as hedges against US dollar debasement — a narrative increasingly likened to gold.

However, Bitcoin isn’t the only corner of crypto attracting major institutional money. The Intercontinental Exchange (ICE) has invested $2 billion in Polymarket, a decentralized prediction platform, valuing the firm at roughly $9 billion. The move signals growing convergence between traditional finance and decentralized blockchain infrastructure, as institutions explore tokenized markets and real-world event forecasting.

Meanwhile, Tether is back in the headlines after a publicly listed AI-driven company, Rezolve AI, acquired Smartpay, a fintech platform that processed over $1 billion in USDt (USDT) transactions over the past year. The deal highlights stablecoins’ expanding role in payments and the intersection of AI, blockchain and digital dollars.

This week’s Crypto Biz underscores how institutional adoption is shifting from cautious observation to direct participation, whether in digital assets, prediction markets or stablecoin-powered finance.

Strategy’s Bitcoin stash now rivals Big Tech cash reserves

Earlier this week, the value of Strategy’s roughly 640,000 BTC briefly surpassed $80 billion, as Bitcoin climbed to a new all-time high near $126,000. That valuation puts the company’s Bitcoin reserve within range of the $95 to $97 billion in cash and equivalents held by Amazon, Microsoft and Google parent Alphabet.

The milestone highlights how Bitcoin’s rising price, driven by its scarce supply, robust network fundamentals and growing appeal as a hedge against US dollar debasement, has transformed Strategy’s balance sheet into one of the largest corporate asset holdings in the world.

Meanwhile, the US dollar is on track for its worst annual performance in five decades, further fueling interest in alternative stores of value such as Bitcoin.

Intercontinental Exchange invests $2 billion in Polymarket

Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange (NYSE), has made a strategic investment in crypto-based prediction market Polymarket, valuing the company at approximately $9 billion post-money. The investment, totaling $2 billion, marks one of the largest capital infusions into a blockchain prediction platform to date.

The deal is notable given ICE’s status as the operator of the world’s largest stock exchange by market capitalization, signaling growing institutional confidence in onchain prediction markets as legitimate tools for forecasting and price discovery.

Polymarket has seen rapid growth, particularly around the 2024 US presidential election, where its markets tracked and accurately forecast the eventual outcome. The company is now said to be exploring a return to the US market, working with the Commodity Futures Trading Commission (CFTC) to navigate regulatory pathways and ensure compliance.

Rezolve AI acquires Smartpay as Tether-linked payments gain momentum

Rezolve AI, a public e-commerce and AI platform, has acquired fintech infrastructure firm Smartpay, best known for enabling stablecoin transactions, in a deal that highlights the accelerating convergence of digital assets and artificial intelligence. Terms of the acquisition were not disclosed.

The move strengthens Rezolve’s partnership with Tether, the issuer of the US dollar-pegged stablecoin USDt (USDT), and taps into Smartpay’s growing transaction volumes — more than $1 billion in USDt payments processed over the past 12 months.

Smartpay’s platform is primarily active in Latin America and Central Africa, where it allows consumers to pay with stablecoins while merchants receive settlements in local fiat currencies. The acquisition positions Rezolve to expand its presence in emerging markets where stablecoin adoption is rising, driven by currency volatility and limited access to traditional banking.

Plume Network secures SEC transfer agent registration as tokenization gains traction

Plume Network, a layer-2 blockchain focused on real-world asset (RWA) tokenization, has registered as a transfer agent with the US Securities and Exchange Commission (SEC) — a move that underscores the growing integration of blockchain technology into traditional financial infrastructure under evolving regulatory frameworks.

Becoming a registered transfer agent allows institutions to manage key back-office functions for securities issuers, including recording ownership changes, maintaining shareholder records and facilitating transfers. Plume said it now plans to bring these processes onchain, enabling greater transparency and efficiency for tokenized assets.

The registration places Plume among a small but expanding group of blockchain firms seeking to align tokenization efforts with US securities regulations. It also reflects the SEC’s increasing engagement with the RWA sector, which has attracted billions of dollars in tokenized value across assets like Treasurys and private credit.

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