This week’s Crypto Biz explores the corporate battle between Riot Platforms and Bitfarms, Tether’s $1 billion budget for startups, Ripple Labs’ new custodian deal, and more.
The corporate dispute between crypto miners Riot Platforms and Bitfarms has recently intensified.
On June 11, Riot Platforms disclosed a significant increase in its stake in Bitfarms, acquiring roughly six million shares worth over $111 million and bringing its total holding from 9.25% to 13.1%.
The move came just a day after Bitfarms suggested a “poison pill” defense strategy to prevent Riot from increasing its stake to 15% or more. The defense mechanism is designed to dilute the value of shares and hinder Riot’s takeover plans.
