The Drop #45

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🔥 The hidden clause in the Exaion acquisition that will cost EDF

📑 Briefing - Bitcoin in Q3 2025

🇫🇷 France: a new tax framework for governance tokens?

📈 Consensys prepares for IPO

💰 Tether surpasses $10 billion in profits in 2025

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🔥 EXCLUSIVE: Mara's Exaion acquisition includes clause barring EDF from AI and Bitcoin Computing

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‍The acquisition contract between Exaion and U.S.-based Mara includes a largely overlooked clause: EDF would be barred from engaging in any intensive computing activity for two years. The restriction could apply to Bitcoin mining, but also to AI and cloud computing.

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📑 Briefing - Bitcoin in Q3 2025

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‍Bitcoin has had an eventful summer. Between new record highs, a surprise correction and the rotation of capital towards gold and Ethereum ETFs, the third quarter of 2025 reveals a market that is still resilient, but has entered a phase of loss of momentum.

🇫🇷 France: towards an unprecedented tax framework for governance tokens?

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‍The French government has asked for recent amendments on the taxation of governance tokens to be withdrawn, not to abandon the idea, but to revise it. The goal: adapt the legal framework to DeFi realities and retain crypto talent in France.

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📈 Consensys prepares for IPO

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‍Consensys, the company behind the MetaMask wallet and a pillar of the Ethereum ecosystem, is preparing to go public. According to Axios, the company has reportedly hired JPMorgan Chase and Goldman Sachs to lead its initial public offering (IPO). This announcement comes as a number of crypto companies (including Circle, Gemini, and Bullish) have chosen the US markets for their listings, taking advantage of a clearer regulatory environment.

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💰 Tether surpasses $10 billion in profits in 2025

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‍Tether has released its attestation report for the third quarter of 2025, certified by the Italian auditing firm BDO. The stablecoin giant announced a cumulative net profit of over $10 billion since the beginning of the year, a record for the company. During the same period, 17 billion new USDT were issued, bringing the total supply in circulation to over $174 billion at the end of September. Tether now claims to have more than 500 million users worldwide.

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