Sharps Technology Raises $400M to Build World’s Largest Solana Treasury

Key takeaways

• ChatGPT helps simplify complex crypto projects by summarizing white papers, explaining use cases and breaking down tokenomics.

• Researching the team, partnerships and security risks is crucial before investing in any crypto token.

• Comparing projects with competitors highlights strengths and weaknesses for better decision-making.

• ChatGPT can suggest relevant research questions, acting as a guide for beginners and experienced investors alike.

Investing in cryptocurrency can be exciting and overwhelming, especially with the thousands of coins and tokens available today. From Bitcoin and Ether to lesser-known altcoins and memecoins, the market is flooded with opportunities and risks. Before investing your money, proper research is essential.

That’s where ChatGPT can help.

This article walks you through how to use ChatGPT to research cryptocurrency projects (using different projects as examples), assess their credibility, and make smarter, data-informed investment decisions. Whether you’re a beginner or a seasoned trader looking to streamline your workflow, ChatGPT can be a powerful research assistant.

Why research matters in crypto investing

Unlike traditional stocks backed by earnings reports and regulatory filings, crypto assets often lack standardized financial data. Instead, you must sift through white papers, GitHub repositories, community sentiment and more. Failing to do proper research can lead to investing in overhyped or even fraudulent projects.

Crypto scams can take many forms, but here are a few common examples to illustrate why research is crucial:

• Rug pulls: These occur when developers create a new token, promote it heavily to attract investors, then suddenly withdraw all funds, leaving investors with worthless tokens. A notorious case was the “Squid Game” token in 2021, which surged in price before the creators vanished with millions.

• Pump-and-dump schemes: Groups artificially inflate a coin’s price by spreading false hype, only to sell off their holdings at a profit, crashing the price and leaving others with losses.

• Fake projects or plagiarized white papers: Some tokens have white papers copied from legitimate projects or contain vague, technical jargon that obscures a lack of a real product or team.

• Pig butchering: Scammers build long-term relationships to gain trust, then convince victims to invest heavily in fake crypto projects, eventually stealing their funds.

• Deepfake scams: Sophisticated AI-generated videos or audio impersonate influencers or company executives to trick people into sending crypto or revealing private keys.

• Cybersquatting: Fraudsters register domain names similar to legitimate crypto projects or exchanges to mislead users and steal credentials or funds.

• Phishing and fake websites: Scammers create websites that mimic popular tokens or exchanges to steal private keys and funds.

Thus, before investing in any coin, it’s critical to verify these fundamental points:

• What the project does

• Who’s behind it

• What problem it solves

• Whether it has a working product

• How it’s different from competitors

ChatGPT can help you answer all of these questions, faster and more clearly.

Did you know? Scammers have impersonated Coinbase in phishing attacks by sending fake emails or text messages that look like official Coinbase alerts. These messages often ask users to click on malicious links to “verify” their account or “resolve security issues,” tricking them into revealing login credentials or transferring crypto funds. Always double-check the sender’s email address and access Coinbase through their official website or app to avoid falling victim to these scams.

Step-by-step: Using ChatGPT to research crypto projects

Here’s how to use ChatGPT effectively when researching coins before investing:

1. Start with a project summary

Use ChatGPT to generate a high-level overview of any coin. This helps you quickly understand the project’s purpose and goals.

Example prompt:

“Explain what Bitcoin Hyper (HYPER) does in simple terms.”

Jeremie Davinci, an early Bitcoin adopter, crypto millionaire and YouTuber, has triggered a heated discussion among his followers on the social media giant X with a simple BTC tweet.

This X message comes after the world’s largest cryptocurrency has tumbled by 3.04% over the past day and is currently trading below the $111,500 level.

Davinci's major Bitcoin message

Jeremie Davinci addressed the community on Crypto Twitter with a message that reveals a very simple but winning Bitcoin strategy that anyone — even the most inexperienced crypto enthusiast — can use.

His scheme was built out of “pointing blackhand index” emojis. A large amount of them form a large square, where a Bitcoin sign sits at the very middle, and a whole bunch of “index finger” emojis are pointing at it.

This ignited an agitated discussion among Davinci’s followers. While many interpreted this scheme as “a Bitcoin dip” or “Bitcoin to the moon,” some also suggested that it could simply mean that one should just hold BTC no matter what and keep increasing one’s stash by adding more Satoshis to it.

This aligns with what other influencers often recommend on Crypto Twitter, and it is called “stacking Sats” with the idea that this may lead to ownership of a single Bitcoin. Davinci himself did not respond to any of those comments.

Why is Bitcoin rising so slowly? Willy Woo opines

Over the past day, the flagship cryptocurrency has lost slightly more than 3%, falling from $114,590 to the $111,106 level, where it is changing hands as of press time. Since Friday, the decline has constituted 5.42%; back on that day, Bitcoin traded above $117,000.

A renowned trader and crypto entrepreneur, Willy Woo, shared his take on what is happening to BTC this cycle and why it is taking so long to rise, despite reaching several new all-time highs this year already. The most recent one was above $124,000.

Woo believes that the noncirculating Bitcoin supply is mostly held by early buyers (OG), who bought their BTC at $10 or lower. And now, as many of those OGs are coming out of dormancy and selling their coins, “It takes $110k+ of new capital to absorb each BTC they sell,” Willy Woo tweeted. He believes this is the key reason why the Bitcoin price is rising slowly.

Recently, the cryptocurrency market has turned red once again today, as top assets like Bitcoin, Ethereum, and XRP have all faced steep declines. Particularly, Bitcoin led the drop with prices slipping under $112,000, while ETH/USD and XRP/USD followed suit with significant corrections of their own.

Therefore, with liquidations mounting and strong bearish sentiment spreading, today’s market highlights why caution remains critical.

Bitcoin Extends Decline Below $112K

The chart reveals that the Bitcoin price today fell by 2.13%, extending its streak of bearish candles as BTC/USD dropped to $111,111.

This has marked a decisive break below $112,000, driven by a recent wave of whale sell-offs. According to data, over 24,000 BTC, which are worth approximately $2.7 billion, were offloaded, and this sparked heavy liquidations across exchanges.

CoinGlass data revealed that $837.92 million in liquidations occurred in the past 24 hours alone, with $672.62 million in longs wiped out.

Whereas the data shows, the single largest liquidation happened on OKX’s BTC-USDT-SWAP pair, valued at $12.49 million.

This sudden selling pressure pushed Bitcoin price closer to its key May support level near $110,000, raising concerns of a possible slide toward $101,000 if that zone is breached.

On the BTC price chart, the asset recently broke down from an ascending wedge formation, further worsening investors’ and traders’ fears. Therefore, with the BTC price USD now 10.2% away from its all-time high of $124,533, market sentiment remains fragile.

As crypto captures more mainstream attention, investors are looking for ways to access U.S.-linked digital assets through simpler, regulated investment vehicles like ETFs.

Canary Capital Files for U.S.-Focused Crypto ETF

In a latest move, asset manager Canary Capital has filed for a new ETF, called the Canary American-Made Crypto ETF, which focuses exclusively on U.S.-linked cryptocurrencies. 

This ETF is designed to hold only cryptocurrencies with strong ties to the United States-

• Coins that were invented in the U.S.
• Coins that are mostly mined in the U.S.
• Coins with the majority of their operations based in the U.S.

The fund will track the Made-in-America blockchain index and will also generate rewards from validating blockchain transactions. It joins a wave of products giving investors access to digital assets without the complexities and risks of holding crypto directly.

If approved, the ETF will list on the Cboe BZX Exchange under the ticker symbol MRCA. This comes as U.S.-focused investing gains momentum.

On February 21, 2025, the White House issued a memorandum establishing an “America First” investment strategy, linking economic security to national security. The policy aims to protect U.S. technology, infrastructure, and strategic industries. 

Hard to Say Which Coins Will Qualify

Eric Balchunas, senior ETF analyst at Bloomberg, said it’s tough to know which coins would be included. “Maybe it’s easier to ask which ones wouldn’t,” he added.

He also sparked a debate about Bitcoin’s origin, asking, “Bitcoin was invented in America, right?” One user replied that there’s no evidence it was made in the U.S., noting that Satoshi used British English and was active during UK hours.

Altcoin ETFs Gain Momentum

Meanwhile, Altcoin ETFs are also picking up steam as investors seek exposure to assets other than BTC and ETH.

Investment firms are increasingly filing ETFs for altcoins like XRP, Dogecoin, and Sui. Several XRP ETF issuers, including Canary Capital, recently updated their applications following SEC feedback, and analysts such as Eric Balchunas anticipate a wave of approvals beginning in October.

ETF expert Nate Geraci notes that the barriers preventing institutional investors from entering the crypto market are quickly disappearing. Rules are rapidly evolving, making it possible for these investors to gain direct access to crypto or invest via ETFs.

Strategy disclosed another bitcoin purchase on Monday, adding 3,081 BTC for $356.9 million at an average price of $$115,829 per coin. The haul lifts the company’s treasury to about 632,457 BTC, cementing its lead among public corporate holders.

The bitcoin treasury company now sits on about $70 billion worth of BTC at current prices, acquired at an average of $$73,527 per bitcoin for a total cost of roughly $46.50 billion, including fees. That implies about $23.5 billion in unrealized gains.

Funding and capital-markets playbook

Last week’s purchases were funded from the firm’s preferred-stock programs. Strategy has leaned on perpetual preferreds, convertibles, and at-the-market equity to finance BTC buys, a model Wall Street analysts say lets the company issue when its market value trades at a premium to the bitcoin per share implied by its balance sheet.

At a roughly $112 billion market capitalization against about $70 billion in bitcoin holdings, Strategy’s equity is trading near a 1.6x market-to-NAV multiple or about a 60% premium to the value of its BTC stash, based on The Block’s bitcoin treasury and company stock dashboards.

TD Cowen this month reiterated a $680 price target after Strategy bought another $51.4 million in bitcoin, citing the accretive nature of its issuance cadence and relatively modest debt profile.

Also, Strategy updated its MSTR Equity ATM Guidance, mapping issuance intensity to mNAV bands to give management more flexibility. In brief, the higher the mNAV multiple, the more actively Strategy expects to issue shares to acquire additional bitcoin. At lower mNAV levels, it prioritizes obligations and may consider repurchases.

The latest buy followed a weekend hint from Executive Chairman Michael Saylor, who posted “Bitcoin is on sale” alongside a SaylorTracker graphic of the firm’s holdings. A week earlier, he touted Strategy’s “Bitcoin Standard” scorecard, noting the stock’s annualized performance since adopting BTC has outpaced the “Magnificent 7” and major asset classes, according to the company’s tracker. According to The Block's price page, BTC traded 10% down from its all-time high as whales migrate to Ethereum.

Strategy's bitcoin acquisitions. Image: Strategy.

Still, MSTR fell to its lowest close since April last week before rebounding, as investors continued to debate the stock’s premium to its underlying bitcoin net asset value. Supporters argue the premium is a feature, not a bug, and provides lower-cost capital to acquire more BTC when mNAV is elevated.

Beyond Strategy, a growing roster of public companies has embraced bitcoin treasury strategies. The Block’s data dashboard shows miners MARA and Riot, financial firms like Galaxy Digital, and other firms, including Bitcoin Standard Treasury Company, Trump Media, and Metaplanet, among notable holders. Still, Strategy remains the pace-setter. After today’s disclosure, its stash is just under/around 3% of bitcoin’s 21 million-coin cap.

Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.

© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.