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CAN News
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Canaan Authorizes Management to Monetize Digital Assets for ADS Buybacks
Canaan has authorized its management to monetize a portion of its digital asset treasury to fund repurchases of its ADSs under the share repurchase program authorized by its board of directors effective December 12, 2025. The company may fund further repurchases using its digital asset proceeds, depending on the trading price of its ADSs, prevailing market conditions, working capital requirements, and other considerations. Based on its current market capitalization, the company is trading below the combined value of its digital assets holdings and its cash and cash equivalents as reported on March 31, the end of its most recently reported quarter. According to its June 2026 monthly production and mining operation updates, the company held digital assets with an approximate market value of $130M based on prevailing market prices as of August 3. These assets are held in accordance with the company's treasury and custody policy.
Canaan Releases June 2026 Bitcoin Mining Update
Canaan released its unaudited bitcoin mining update for June 2026. Cannan achieved cryptocurrency holdings of 1,915 BTC and 3,952 ETH. Non-JV installed hashrate was 10.05 EH/s.
Coinbase Introduces AI Agent Feature, MassPay Partners with Coinbase
As bitcoin, ethereum and other cryptocurrencies see major legal, institutional, and technological developments, the financial landscape continues to adapt. Stay up on the crypto news that matters with the "Crypto Currents" weekly from The Fly. Also, join us for your essential daily recap, every day at 2 PM ET on FlyCast radio.COINBASE INTRODUCES COINBASE FOR AGENTS:On Thursday, Coinbaseannounceda feature that connects a user's AI agent directly to their account to enable it to trade, pay and execute workflows on their behalf. The company said, "People are already using Large Language Models for a vast range of investment research and financial questions. But these LLMs often lack full context about your actual financial life and portfolio, and they can't take actions on your behalf. Today, we are changing that. Introducing Coinbase for Agents. Connect your favorite agent directly to your Coinbase account to trade, pay, and operate within limits you control. By giving your AI agent direct access to Coinbase, your agent can now do both financial reasoning and execution. The way people interact with the internet is changing. People are increasingly moving through the world via agents rather than apps — and businesses are rapidly rebuilding their products to be agent-first in turn. As that ecosystem grows, Coinbase for Agents is positioned to be your trading and spending account at the center of it."Additionally on Thursday, MassPay Holdings and Coinbase announced a strategic partnership to bring stablecoin-powered cross-border payout capabilities to businesses worldwide. The partnership combines MassPay's single-API global payout network, covering 180 countries across bank transfer, mobile wallet, and digital asset rails, with Coinbase's regulated digital asset infrastructure, institutional-grade safeguarding of digital assets, and extensive global licensing footprint. Together, they enable enterprise customers to move between fiat currency, USDC, and other digital assets without managing separate crypto infrastructure. "Stablecoin rails are becoming the standard for how global businesses move money, and our partnership with MassPay is a great example of that shift in action. MassPay's enterprise clients can now fund in USD, settle in USDC, and pay recipients globally — all within the infrastructure they already use. Coinbase handles the custody, compliance, and onchain infrastructure in the background, so MassPay can stay focused on delivering high-quality service to their clients." said Alec Lovett, Head of Infrastructure Products at Coinbase.FORWARD PROPOSES ACQUISITION OF BRERA HOLDINGS:Forward Industriesannounced Tuesday that itto Brera Holdingson June 1 to acquire the entire issued and to be issued share capital of SLMT in an all-stock transaction. Under the proposal, SLMT shareholders would receive 1.54 newly-issued shares of Forward Industries common stock for each SLMT share, representing a premium of approximately 30.7% to the volume-weighted average closing price of SLMT's ordinary shares over the ten trading days ended June 1 or $7.19 per share. The board of directors of SLMT chose to not engage in discussion with Forward and rejected the proposal on June 6 on the basis that "it does not consider the proposal to be in the best interest of the company".The company said, "Forward Industries respectfully disagrees and believes that the proposal is in the best interest of SLMT and, equally as importantly, the shareholders of SLMT, and is disappointed that SLMT has chosen to not engage in dialogue with the Forward team. Forward believes it is a strong partner and hopes that SLMT is open to further discussion to create an outcome that would create value for SLMT and its shareholders. We believe Forward's capital structure, its scale as the largest Solana treasury, and its access to capital position can realise and sustain the value embedded in SLMT more effectively than SLMT could on a standalone basis."Brera announced Thursday that itthis week at a price of approximately $64.20, as part of its ongoing strategy to make SOL acquisitions. The purchase was made using Solmate Infrastructure's cash reserves, and the company plans to continue deploying capital for further SOL purchases as it seeks to establish itself as the market leader among publicly traded Solana-focused investment and infrastructure companies.MASSPAY EXPANDS OFFERING VIA CIRCLE PAYMENTS NETWORK:MassPay announced Tuesday anprovided by Circle Internet Financial. Building on its existing integration with CPN, MassPay now leverages CPN Management Payments for stablecoin-enabled settlement. The integration enables MassPay customers to fund, manage, and send payouts using stablecoins, without directly managing digital assets or blockchain infrastructure."MassPay's expanded use of Circle Payments Network Managed Payments shows payments companies are looking to bring faster, cheaper, and programmable money movement into their core payout operations," said Irfan Ganchi, SVP of Product Management, Payments at Circle. "By leveraging managed infrastructure through CPN, MassPay enables customers to access stablecoin-powered workflows without directly managing digital assets."On Wednesday, Munify announced its integration with the Circle Payments Network to support stablecoin-based payouts into the Philippines. Through the integration, Munify enables users to receive funds globally in USDC and convert them into Philippine pesos for payout to local bank accounts and digital wallets."Munify's integration with CPN supports stablecoin-based payouts into the Philippines," said Ganchi. "By connecting to CPN, Munify enables more efficient conversion of digital dollars into local currency, helping streamline cross-border payment flows for users and businesses."CME GROUP LAUNCHES NASDAQ CME CRYPTO INDEX FUTURES:CME Groupannounced Tuesday the launch of NasdaqCME Crypto Index futures. At expiration, these contracts are financially settled to the value of thewhich measures the performance of the largest and most actively traded cryptocurrencies. As of June 9, the index includes bitcoin and bitcoin cash, ether, SOL, XRP, ADA, LINK, and lumens."With trading now officially underway, our new Nasdaq CME Crypto Index futures represent a major milestone in the expansion of our regulated digital asset marketplace," said Giovanni Vicioso, Global Head of Cryptocurrency Products. "In today's volatile markets, investors are increasingly seeking diversified exposure to the cryptocurrency ecosystem while retaining the capital efficiencies and transparency of a regulated futures marketplace. These contracts give clients a cost-efficient tool to hedge their risk or directly pursue broad-based crypto opportunities."Additionally on Monday, CME announced its new Bitcoin Volatility Index futures are available for trading. First trades were executed as blocks between DV Chain and Monarq Asset Management."The early support we've seen for our new Bitcoin Volatility futures further demonstrates the growing client demand for more innovative tools to more efficiently protect against adverse market moves," said Vicioso. "Our new 24/7 trading framework expands the utility of these contracts, allowing investors to isolate and precisely manage their portfolio's volatility risk and exposure at any hour of the day, any day of the week – unlocking a critical new layer of risk management."TRUMP CRYPTO PROFITS PROBED:A two-part Reuters investigation published Monday estimated the Trump familyincluding American Bitcoinand World Liberty Financial, while outside investors in those same projects suffered equivalent paper losses. The second installment reported that Eric Trump holds approximately 7.5% of American Bitcoin with no evidence he contributed commensurate capital, while the two Trump sons collectively hold approximately 20%, and American Bitcoin shares are down approximately 90% from their September 2025 IPO price. The dual investigation dropped on the same day the House Ways and Means Committee convened its full-committee hearing on digital asset taxation.OTHER CRYPTO NEWS:Strategyacquires, announces approval of STRC semi-monthly dividendsVisaannouncesStrivepurchasesas of June 5BitGolaunches institutionalintroduces Lightning Earn offering, BitGo MENA launches regulated electronic tradingHyperscale Datareports, announces Yorkville transactionBitmine ImmersionreportsEightco HoldingsreportsCore Scientificre-initiatedRiot Platformsprice targetat Keefe BruyetteNakamotosellsCanaanminesAI FinancialprovidesCangominesBitFuFuminesSolunaminesFigure TechnologytoFoldmonetizesZooz PowertoCRYPTO STOCK PLAYS:Publicly traded companies in the space include Bit Digital, Coinbase, Core Scientific, Greenidge Generation, Mara Holdings, Strategy, Riot Platforms and TeraWulf.PRICE ACTION:As of time of writing, bitcoin rose roughly 4% this week to $63,192 in U.S. dollars, according to CoinDesk.
Canaan Achieves 1,867 BTC in Bitcoin Holdings
Canaan released its unaudited bitcoin mining update for the month ending May 31. Cannan achieved cryptocurrency holdings of 1,867 BTC and 3,952 ETH. Non-JV installed hashrate was 10.05 EH/s. "As we continued to streamline our self-mining portfolio and improve operational efficiency, our mining operations delivered solid results during May," said CEO Nangeng Zhang. "Our self-mining operations delivered 90 BTC during the month, with an additional 24 BTC originating from customer payments. As a result, our cryptocurrency treasury reached a record high of 1,867 BTC and 3,952 ETH by the month-end. Following the planned expiration of a hosting agreement during the month, we further refined our mining footprint, ending the month with 10.05 EH/s of installed hashrate and 6.47 EH/s of operating hashrate. Importantly, our North American self-mining fleet achieved an average efficiency of 17.9 J/TH, representing our best regional fleet performance to date and an ~11% YoY growth. Our global average mining efficiency in May was 23.7 J/TH, representing a 13.5% improvement YoY. Our joint venture operations generated approximately 45 BTC during May, nearly matching April's production despite wildfire-related disruptions at the Alborz site. We expect the site to return to full operations within the coming week. We would like to thank WindHQ for its rapid and professional response to the disruption, which reflects the strong partnership we have built."
Warren Questions OCC Trust Charters for Coinbase and Others
Crypto's institutional ambitions ran into dual regulatory headwinds as Senator Elizabeth Warren pressed the OCC to justify trust charter grants to Coinbase, BitGo, and peers, as the Bank of England signaled an aggregate cap on stablecoin issuance ahead of formal rules next month. Canaan reported Q1 results in line with guidance but issued a weaker Q2 outlook, while Hyperscale Data held its bitcoin position steady and BitGo launched a custody platform for banks. Stay up on the crypto news that matters with "Crypto Currents," daily from The Fly. Join us at 2 PM ET for your essential briefing on the fast-moving world of cryptocurrency on FlyCast radio.WARREN VS. OCC ON TRUST CHARTERS:Senator Elizabeth Warren sent a letter to OCC head Jonathan Gould challenging at least nine national trust bank charter approvals granted to crypto companies, calling them an "apparent violation of the National Bank Act," as reported by. The letter specifically names Coinbase, Ripple, Crypto.com, and BitGoamong the recipients of charters she argues were unlawfully issued. The practical stakes are significant: a national trust bank charter allows crypto firms to operate custody and fiduciary services across state lines without a patchwork of state licenses, lowering compliance costs and broadening institutional client reach. Warren's challenge could force OCC to justify or revoke those approvals, injecting legal uncertainty into charter-holders' expansion plans and potentially delaying Coinbase's and BitGo's institutional custody buildouts.BOE STABLECOIN GUARDRAILS:The Bank of England said it is weighing "temporary guardrails" that would cap aggregate stablecoin issuance rather than impose per-holder limits, with formal rules expected next month, asreported. The proposal directly affects Circleand its USD Coinfranchise, as well as Coinbase, which earns a revenue-share on USDC balances. An aggregate issuance cap differs structurally from per-wallet limits: it constrains total float rather than individual holdings, meaning fast-growing stablecoin adoption could trigger a hard ceiling sooner than the market expects. With Circle's IPO still fresh and its U.K. licensing ambitions on record, the BoE timeline concentrates regulatory calendar risk into a narrow window.BITGO BANK PLATFORM LAUNCH:BitGo launched a modular digital asset operating platform targeting banks, covering custody, Crypto-as-a-Service, trading and settlement, stablecoin infrastructure, and wealth management tooling, as the company. The timing lands as Warren simultaneously questions BitGo's OCC trust charter, pairing a commercial product push with fresh regulatory headwinds on the same day.CANAAN Q1 RESULTS AND TREASURY:Canaanreported Q1 revenue of $62.7M, in line with prior guidance, and the filing revealed its crypto treasury reached a record 1,807.60 bitcoin and 3,951.53 ether, per. For Q2, the company guided revenue of $35M–$45M, citing compressed hashprice and macro uncertainty. The Q2 guidance range implies a revenue step-down of roughly 30%-44% sequentially, a signal that hashprice compression continues to squeeze miner economics even as Canaan pads its balance sheet with native crypto assets. At the Bitcoin 2026 conference in Las Vegas, the companyon home mining's resurgence, spotlighting its Avalon Home product line and retail distribution push.HYPERSCALE DATA TREASURY UPDATE:Hyperscale Datadisclosed holding approximately 692 bitcoin, valued near $53.6M as of May 17, with the disclosure confirming no open-market purchases were made during the prior week, per. The company reaffirmed its intent to fully deploy its allocated cash into bitcoin over time.CRYPTO CRIME AND EXCHANGE SECURITY:Physical attacks targeting crypto holders have prompted exchanges including Coinbase to harden executive security and conference protocols, with private security demand surging industry-wide,. The security escalation adds a new operational cost layer for public crypto companies with visible leadership, particularly those with retail-facing brands and high-profile conferences on the calendar.PRICE ACTION:As of time of writing, bitcoin was trading at $76,166.26, while ether was trading at $2,098.26,.
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