Strategy Raised $467M But Didn't Buy a Single Bitcoin | CoinDesk Daily

**Sam Ewen** (0:00)
Strategy raises fresh cash, but buys no Bitcoin, and Robinhood's new blockchain is already a top five DEX. This is CoinDesk Daily.

**SPEAKER_2** (0:14)
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**Sam Ewen** (0:20)
Strategy raised $467 million in fresh cash last week, but made no changes to its Bitcoin holdings. The money came from stock sales through its at the market equity program, bringing Strategy's USD reserve to $3 billion. The Bitcoin stack stays at 843,775 Bitcoin, acquired at an average price of $75,476.
With BTC now around $62,800, the company is sitting on significant unrealized losses. Robinhood's new blockchain cracked the top five networks by Dex trading volume just two weeks after launching. According to a Bernstein research note, Robinhood chain generated $3.1 billion in Dex volume over the past seven days. More than 65,000 users now hold roughly $13 million in tokenized stocks and $300 million in stable coins on the network.

**SPEAKER_2** (1:13)
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**Sam Ewen** (1:18)
And Ripple CEO Brad Garlinghouse revealed that he and co-founder Chris Larson seriously considered shutting the company down after the SEC sued them in 2020 The plan was to distribute all of Ripple's XRP to shareholders on a pro-rata basis and dissolve. Garlinghouse described that as the easier path against what he called government with infinite power and resources. They chose to fight. The legal battle ran four years and cost Ripple $150 million in fees. I'm glad in retrospect, Garlinghouse said, but that was not obvious at the time.
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**SPEAKER_2** (1:53)
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