Today in crypto, a crypto researcher has high hopes the US government will still form the Strategic Bitcoin Reserve this year, Gemini shares soared on Nasdaq in their first day of trading. Meanwhile newly discovered malware called ModStealer is targeting crypto users across multiple operating systems.
‘Strong chance’ US will form Strategic Bitcoin Reserve this year: Alex Thorn
There is a high likelihood that the United States government will form the highly anticipated Strategic Bitcoin Reserve by the end of this year, says Galaxy Digital’s head of firmwide research, Alex Thorn.
However, other industry executives are less confident.
“I still think there’s a strong chance the US government will announce this year that it has formed the strategic Bitcoin reserve (SBR) and is formally holding BTC as a strategic asset,” Thorn said in an X post on Thursday.
“Market seems to be completely underpricing the likelihood of such an announcement,” Thorn added.
While US President Trump signed the executive order officially establishing the Strategic Bitcoin Reserve and US Digital Asset Stockpile in March, a formalized strategic plan has not been confirmed yet.
Gemini (GEMI) stock soars in Nasdaq debut amid crypto IPO boom
Shares of Gemini Space Station (GEMI), the digital asset exchange founded by Cameron and Tyler Winklevoss, surged in their market debut on Friday, signaling strong institutional appetite for crypto-related equities.
Gemini shares briefly topped $40 on Friday, according to Yahoo Finance data, before retreating later in the session. By the afternoon, Gemini was trading near $35 a share, up 24% on the day, for a market cap of around $1.3 billion.
The company priced its initial public offering at $28 per share late Thursday — well above its initial target range of $17 to $19, and even higher than the upwardly revised $24 to $26 range.
According to CNBC, Gemini capped its offering at 15.2 million shares, raising $425 million and signaling heightened investor demand.
The exchange moved swiftly from filing its Form S-1 with the US Securities and Exchange Commission to debuting on the Nasdaq. As Cointelegraph reported, Gemini submitted its IPO registration on Sept. 2 and began trading 10 days later.
New ModStealer malware targets crypto wallets across operating systems
A newly-discovered malware called ModStealer is targeting crypto users across macOS, Windows and Linux systems, posing risks to wallets and access credentials.
Apple-focused security firm Mosyle uncovered the malware, saying it remained completely undetected by major antivirus engines for almost a month after being uploaded to VirusTotal, an online platform that analyzes files to detect malicious content, 9to5mac reported.
Mosyle said ModStealer is designed to extract data, with pre-loaded code that steals private keys, certificates, credential files and browser-based wallet extensions. The security researchers found targeting logic for different wallets, including extensions on Safari and Chromium-based browsers.
The security firm said the malware persists on macOS by abusing the system to register as a background agent. The team said the server is hosted in Finland but believes the infrastructure is routed through Germany to mask the operators’ origin.
The malware is reportedly being distributed through fake job recruitment ads, a tactic that has been increasingly used to target Web3 developers and builders.