Nasdaq-listed Sharps Technology (STSS) surged as much as 70% Monday after announcing a $400 million capital raise to build what it says could become the largest corporate treasury of Solana’s native token, SOL.

Crypto exchange Gemini, founded by Cameron and Tyler Winklevoss, has partnered with Ripple to launch an XRP-branded credit card. Issued with WebBank, the card offers tiered rewards up to 4% back in XRP on fuel, EV charging, and ridesharing, 3% on dining, 2% on groceries, and 1% on other purchases, with up to 10% cashback at select merchants.

Prediction markets show limited confidence that President Donald Trump will succeed in reshaping the Federal Reserve this year. On Polymarket, bettors give just a 10% chance that Chair Jerome Powell will be ousted in 2025, despite rising political pressure.

Top stories in the Crypto Roundup:

• Sharps Technology Jumps 70% After Raising $400M for Solana Treasury
• Gemini Targets XRP Army With New Credit Card, Expands Ripple USD Use for U.S. Customers
• Polymarket Bettors Doubt Trump Can Topple Jerome Powell or Lisa Cook This Year

Sharps Technology Jumps 70% After Raising $400M for Solana Treasury

Nasdaq-listed Sharps Technology (STSS) surged as much as 70% Monday after announcing a $400 million capital raise to build what it says could become the largest corporate treasury of Solana’s native token, SOL. The stock peaked above $13 before closing 53% higher from Friday’s $7.30 close.

The fundraising, backed by ParaFi, Pantera, FalconX, CoinFund, and Arrington Capital, sold units at $6.50 with attached warrants exercisable at $9.75, with closing expected August 28. Proceeds will be allocated primarily to accumulating SOL. Alice Zhang, co-founder of Solana-backed project Jambo, has joined Sharps as CIO and board member to oversee the strategy.

The Solana Foundation has also committed to selling $50 million in SOL at a 15% discount to a 30-day average price, further cementing ties.

Sharps is the latest in a wave of public firms pivoting to digital asset treasuries (DATs) — companies raising funds to buy and hold crypto, modeled on MicroStrategy’s bitcoin strategy. The trend has spread to Solana, with firms such as SOL Strategies (HODL), DeFi Development (DFDV), and Upexi (UPXI) adding to their SOL holdings.

Galaxy Digital, Multicoin, and Jump Crypto are also reportedly seeking to raise $1 billion for a dedicated SOL treasury via a listed-company buyout, while DFDV said Monday it plans to raise $125 million through equity sales, though its stock fell 19% on the news

Gemini Targets XRP Army With New Credit Card, Expands Ripple USD Use for U.S. Customers

Crypto exchange Gemini, founded by Cameron and Tyler Winklevoss, has partnered with Ripple to launch an XRP-branded credit card. Issued with WebBank, the card offers tiered rewards up to 4% back in XRP on fuel, EV charging, and ridesharing, 3% on dining, 2% on groceries, and 1% on other purchases, with up to 10% cashback at select merchants.

At the same time, Gemini is broadening the role of Ripple USD (RLUSD), Ripple’s $680 million U.S. dollar-backed stablecoin, by adding it as a base currency for all spot trading pairs for U.S. customers. The move enables traders to shift directly between RLUSD and other digital assets, positioning the token more centrally within Gemini’s trading ecosystem.

The expansion comes as Gemini gears up for a planned U.S. IPO, filed in June, with the firm ramping up new products and regional licenses. Recent steps include the launch of tokenized U.S. stock trading, securing a MiCA license in Malta, and disclosing a $75 million credit facility from Ripple. Gemini reported a $282 million net loss in the first half of 2025.

Polymarket Bettors Doubt Trump Can Topple Jerome Powell or Lisa Cook This Year

Prediction markets show limited confidence that President Donald Trump will succeed in reshaping the Federal Reserve this year. On Polymarket, bettors give just a 10% chance that Chair Jerome Powell will be ousted in 2025, despite rising political pressure.

Trump has also moved to dismiss Fed Governor Lisa Cook over allegations of mortgage fraud. In a letter posted to Truth Social, he claimed “just cause” for her removal. Cook has refused to resign, arguing that removals must relate to misconduct in office—not personal matters preceding her appointment. Markets are pricing a 27% chance of Cook's removal by the end of the year.

If Powell were removed, the move would be controversial, but markets could interpret it as a shift toward looser monetary policy. A Federal Reserve more closely aligned with the White House might accelerate rate cuts, potentially weakening the dollar and boosting risk assets—including bitcoin.

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