Overview

• Duong points to Strive Asset Management’s all-stock purchase of Semler Scientific as an early example of the consolidation he expects.
• Digital asset treasuries are increasing use of crypto-native yield tactics such as staking and DeFi looping to bolster returns.
• Recent weeks have seen a jump in share repurchases, including Thumzup lifting its program from $1 million to $10 million and DeFi Development Corp expanding from $1 million to $100 million.
• Buybacks remain highly sentiment-driven, with TON Strategy Company’s repurchase coinciding with a 7.5% slide in its shares.
• Coinbase’s outlook suggests only a few players may ultimately dominate, with the trajectory hinging on regulatory changes, liquidity and broader market conditions.