Peter Thiel and other tech billionaires are looking to capitalize on the market gap left by the collapse of Silicon Valley Bank (SVB) in 2023 by launching a new financial institution tailored for crypto companies and startups struggling for financing. This initiative aims to address the void in unique banking services that SVB provided before its downfall, which affected nearly half of all venture-backed tech and life sciences firms in the U.S. Meanwhile, the startup Circuit has launched a new recovery system for institutional investors in digital assets, designed to help manage risk and prevent the loss of cryptocurrencies. Business intelligence firm Strategy is set to report substantial Bitcoin holdings yield in Q2, despite challenges in its core software business, demonstrating a growing trend of companies adopting Bitcoin treasury strategies. In addition, Robinhood has expanded its services to include tokenized stock trading through a new layer-2 initiative on Arbitrum, significantly enhancing access to U.S. stock and ETF investments for European Union customers. This week’s updates provide insight into the shifting dynamics within the blockchain and crypto business landscape.

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