Woofun AI reports that CryptoQuant advised MicroStrategy to halt Bitcoin purchases after dividend coverage collapsed to 14 months from a previous seven-year runway. CEO Ki Young Ju highlighted that annual dividend obligations escalated to $1.2 billion following significant issuances of STRC preferred shares yielding 11.5%. Although recent MSTR share sales restored cash reserves to approximately $1.4 billion, the total remains 38% lower year-to-date after the firm repurchased $1.5 billion of its 2029 senior notes. Compounding the liquidity strain, STRC preferred shares recently traded up to 17.5% below their $100 par value, constraining further capital raising through preferred stock mechanisms.

The Chicago Board Options Exchange is evaluating a strategic shift to convert its continuous Bitcoin and Ether futures into perpetual contracts. This potential restructuring follows regulatory approvals by the US Commodity Futures Trading Commission for crypto perpetual futures on Kalshi, establishing a framework for other registered exchanges. CBOE originally launched these continuous futures last December with contract durations extending up to 10 years. Unlike standard derivatives, perpetual contracts lack expiration dates, enabling traders to sustain leveraged positions without forced liquidation timelines.

Fortitude Mining Holdings, a Zcash miner, is executing a public listing via an all-stock merger with medical technology firm HeartSciences. This transaction secures a Nasdaq listing for Fortitude without a traditional initial public offering, while HeartSciences shareholders retain a minority stake in the merged entity. Post-transaction, the combined organization will operate under the Fortitude brand and trade on Nasdaq under the ticker TUDE, pending regulatory clearance. Market reaction was immediate, with HeartSciences shares surging as much as 91% on Tuesday following the announcement.

Chainlink has entered Project Pangea, a cross-border banking initiative involving European and South Korean financial institutions to assess regulated euro and won stablecoins for real-time foreign exchange settlement. The working group unites FairSquareLab, the Unified Korea Alliance (UniKA), Qivalis, and Chainlink to evaluate atomic swaps utilizing blockchain-based settlement infrastructure. Rather than deploying a live payment network, the project aims to determine how tokenized currencies can optimize wholesale financial markets. These markets currently process an estimated $9.6 trillion in daily trading volume globally.