In a significant move set to reshape the decentralized identity landscape, Web3 data platform cheqd has announced a strategic partnership with blockchain platform Dock. This collaboration, revealed in a press release on September 18, aims to catalyze the global adoption of Decentralized Identity (DID) solutions by uniting their respective strengths.
A Unified Digital Asset For A Unified Network
As part of this strategic alliance, Dock will transition its infrastructure—including Dock Certs and its client base—onto the cheqd network, marking the creation of a single, integrated protocol. The merger of Dock’s native token, DOCK, with cheqd’s CHEQ will produce a unified digital asset intended to drive the joint network’s activities.
The unification of CHEQ and DOCK is more than a symbolic gesture. It’s a tactical move designed to expedite the adoption of DID solutions. The newly merged CHEQ will serve as the utility token for all operations within the cheqd-Dock ecosystem, streamlining transactions and interactions on the platform.
Expanding the Reach and Impact
The partnership promises substantial benefits for both platforms, combining their user bases to form a powerful community of over 100,000 members and numerous active partners. This collective force is expected to enhance scalability and implementation of DID solutions across diverse sectors, including finance, identity verification, and government services.
The integrated network will support a broad range of Decentralized Identifiers (DIDs) and offer extensive multi-SDK integration options. Developers will have access to open-source tools such as DIF Registrar & Resolver, Credo, Veramo, Walt.id, and Vidos (Mailchain), facilitating the creation of decentralized applications and fostering innovation in digital identity management.
Committing to Compliance and Growth
Both cheqd and Dock are dedicated to aligning with international regulatory standards, including the European Digital Identity Framework and eIDAS 2.0, ensuring that their solutions meet global compliance requirements. This adherence to regulation is crucial for building trust and acceptance among users and institutions.
cheqd brings its expertise in developing comprehensive credential ecosystems and data markets, while Dock focuses on enabling identity solution providers—such as KYC, background check, and biometric companies—to create and monetize verifiable digital credentials. Together, they aim to set new standards in the blockchain data protection sector and drive widespread adoption of digital verification solutions.
The partnership benefits from the leadership of industry veterans. cheqd CEO Fraser Edwards, known for his work on the Known Traveller Digital Identity initiative with the World Economic Forum, and Dock’s CEO Nick Lambert, along with COO Elina Cadouri—who has a track record of building successful platforms—bring valuable experience and vision to this collaboration.
With cheqd supporting over 80,000 individual wallet addresses and Dock’s infrastructure serving over 600 companies, the combined efforts of these platforms are set to strengthen the digital verification ecosystem and advance the global acceptance of decentralized identity solutions.
This strategic alliance between cheqd and Dock marks a pivotal step in the evolution of decentralized identity, aiming to build a more secure, efficient, and widely adopted framework for managing digital credentials.
If Bitcoin reaches $119,000 by the end of August, MicroStrategy’s (now Strategy) third-quarter earnings could set a new record for a publicly traded company’s highest quarterly profit in financial history. This impressive figure would easily top Nvidia’s earnings and approach Apple’s record.
As Bitcoin gains widespread acceptance, it prompts the question of whether major players will adopt Strategy’s plan by the book. According to Brickken analyst Enmanuel Cardozo, it depends. Though Strategy’s current achievements are impressive, the quality of its long-term health comes into question.
Could MicroStrategy’s Bitcoin Gains Top Tech Giants?
Michael Saylor’s aggressive Bitcoin plan for Strategy (formerly MicroStrategy) continues to remain strong through sunshine or rain. For now, it shows no signs of slowing. With 592,100 Bitcoins on its balance sheet, Strategy is the biggest corporate holder worldwide.
As Bitcoin’s price continues to climb, so will Strategy’s overall earnings. This large-scale success has already led several publicly traded companies to follow suit. The question is whether other corporate giants will also take the leap and purchase Bitcoin.
If Bitcoin closes Q3 above $119,000, and Strategy has 592,100 bitcoins acquired at an average cost of $70,666 each, Strategy’s estimated quarterly net earnings would be approximately $28.59 billion.
Strategy’s most recent Bitcoin purchases. Source: Strategy.
This figure would exceed Nvidia’s highest reported quarterly net income of $22.091 billion, making it Strategy’s largest quarterly earnings and a significant outlier among many publicly traded tech companies.
Since Strategy uses fair value accounting for its Bitcoin, it directly reflects these gains in its net income. If Bitcoin’s price continues to rise beyond this level, Strategy’s earnings could potentially challenge Apple’s current record-setting quarterly net income of $36.33 billion.
Could this unprecedented success generate a fear of missing out among other competitors?
To Buy or Not to Buy
Cardozo expressed excitement over how such a scenario could generate further Bitcoin adoption by other corporate trailblazers.
“With [Strategy’s] 592,100 BTC holdings, other companies might feel the need to finally jump in, especially as Strategy’s performance is outpacing traditional metrics. That kind of success won’t go unnoticed and will eventually push their boards to at least explore Bitcoin to keep up,” he told BeInCrypto.
Some of Bitcoin’s advantages over assets may even appeal to companies with massive earnings, like Nvidia or Apple.
“There’s a solid case for tech giants like Apple and Nvidia to diversify into Bitcoin, and I’m loving the possibilities here. On the pro side, Bitcoin is built as a perfect hedge against fiat devaluation because of its limited supply and decentralized nature,” Cardozo added.
However, a playbook like Strategy’s comes with many risks, and it’s not a one-size-fits-all win—even for Strategy itself.
Strategy’s Financial Health: A Deeper Dive
While Strategy has seen significant profits from holding Bitcoin, these gains primarily stem from a tax advantage, not from its core business operations.
“These gains, driven by fair value accounting, aren’t cash in hand like Apple’s billions from iPhone sales, they are paper profits tied to Bitcoin’s price. Investors and analysts should see this as a speculative boost, not a sign of operational strength, and focus on cash flow and debt to gauge real business health,” Cardozo explained.
Effectively comparing Strategy’s net income to other characteristics like cash flow and debt indeed reveals more about the problems that may lie ahead for the company, especially if Bitcoin’s price were to decline steadily.
Changes in Bitcoin’s price over the past three months. Source: BeInCrypto.
According to the firm’s most recent SEC filings, Strategy reported its outstanding debt amounted to $8.22 billion as of March 2025. It also had a negative cash flow of -$2 million, representing a significant decline year over year.
Though these numbers make sense considering Strategy’s aggressive Bitcoin buying, they also demonstrate that the company’s core software business is not generating enough cash to cover its expenses. Strategy said so itself in its latest filing.
“A significant decrease in the market value of our Bitcoin holdings could adversely affect our ability to satisfy our financial obligations,” read the statement.
It must issue debt and new equity to raise capital to continue its strategy. The plan is risky, to say the least.
Is Bitcoin Right for Every Company?
Given that Strategy’s main income comes from its Bitcoin purchases, Cardozo argues that other companies should carefully consider their financial position before taking a similar approach.
“Analysts should weigh this against operational metrics; a company living on unrealized gains is riskier by nature. I think it’s an innovative strategy, but for long-term health, especially for traditional businesses, cash-generating operations beat paper profits any day, investors should keep that in mind,” he said.
However, as Bitcoin increasingly symbolizes technological innovation, companies aligning with this principle might feel pressured to embrace it. They wouldn’t need to acquire nearly 600,000 Bitcoins, like Strategy, to make such a statement.
They also have a resilient enough treasury to break a fall.
“I’m pretty confident that Apple and Nvidia will eventually invest into Bitcoin, especially with its current track record over the last 10 years,” Cardozo said, adding, “their treasuries could handle a small 1-5% allocation, and not only be hedged against inflation but also as a branding move since they represent the very image of innovation which will also pressure them to do so eventually.”
Yet, ultimately, companies like Apple and Nvidia cater to different customers. Adding Bitcoin to their balance sheets may cause them to lose clients.
The Sustainability Question for Bitcoin Adopters
It’s no secret that Bitcoin mining is extensively damaging to the environment. Strategy, through its Bitcoin acquisitions, directly contributes to the high energy consumption levels associated with the industry.
“Bitcoin’s annual energy consumption is equivalent to a mid-sized country and of course it’s a conflict right off the bat with Apple’s 2030 carbon neutrality target and Nvidia’s renewable energy push,” Cardozo told BeInCrypto.
These companies could risk damaging their public image by associating with an industry that conflicts with their own Environmental, Social, and Governance (ESG) goals.
“Customers and activists might pressure them, seeing it as greenwashing, especially with sustainability being a big part of their public image… they could align Bitcoin with their ESG goals and keep their image intact as Bitcoin mining becomes more sustainable than traditional banking’s legacy system,” Cardozo added.
Ultimately, while the allure of Bitcoin’s gains might pressure tech giants like Apple and Nvidia to follow Strategy’s lead, such a consideration may cause these companies more problems than profits.
The meme coin market is beginning to cool after a surge in activity throughout most of May. The past week’s broader crypto market downturn has dented overall momentum, triggering a dip in the values of top meme assets.
Still, meme coin trading volume remains up 5% over the past month, signaling that investor appetite has not vanished entirely. BeInCrypto has highlighted three standout meme coins to watch in the month ahead.
Central African Republic (CAR)
The official meme coin launched by the African nation received positive developments in May. The country’s president recently announced that the government will use CAR to tokenize 1,700 hectares of land.
As a result, CAR has experienced a notable resurgence, climbing by 103% this week alone.
I have signed a presidential decree to tokenize over 1,700 hectares of land in the Central African Republic.
Starting June, land concessions will be accessible online using $CAR, directly on @solana.
— Faustin-Archange Touadéra (@FA_Touadera) May 29, 2025
As of this writing, the meme coin trades at $0.047. As CAR aims to break the $0.059 resistance, it could witness a continued upward trend if broader market conditions improve.
CAR’s Chaikin Money Flow (CMF), which remains firmly in positive territory at 0.17 at the time of writing, reinforces the potential for a rally above this key resistance level.
The CMF indicator measures how money flows into and out of an asset. A reading above one signals strong buying pressure and indicates that capital is flowing into CAR.
If this continues, CAR could break above $0.059 and extend its gains to $0.074.
However, if profit-taking commences, the altcoin could fall to $0.345.
Daddy Tate (DADDY)
DADDY is another meme coin to watch for possible gains in June. Up 14% over the past seven days, the altcoin currently trades at $0.039.
Earlier this week, Andrew Tate announced the upcoming launch of Real World 2.0, his online training app. According to his statement, the app will have an integrated wallet with some utility around DADDY.
As a result, speculative interest in the meme coin is rising.
The Real World 2.0 is nearly here and it’s about to go NUCLEAR.
• Built-in wallets • Instant payouts • Private job board with real offers from inside the ecosystem
And when it all drops…$DADDY + $TRW are both gonna go CRAZY.
The token’s rising Balance of Power (BoP) indicates the steady rise in buying pressure among DADDY traders. As of this writing, this momentum indicator is at 0.85.
The BOP indicator measures the strength of buyers versus sellers by comparing closing prices to trading ranges. A positive BOP value like this suggests that buyers are in control, indicating bullish momentum in the market.
If this trend continues, DADDY could extend its rally to $0.05.
Conversely, sellers could trigger a price decline toward $0.029 if they regain dominance.
SPX6900 (SPX)
SPX has bucked the past week’s broader market slowdown to post double-digit gains. Up 11% over the past week, the meme asset trades at $0.95 at press time.
The setup of SPX’s Moving Average Convergence Divergence (MACD) on the daily chart confirms the buying pressure in its spot markets. As of this writing, the token’s MACD line (blue) rests significantly above its signal line (orange).
The MACD indicator identifies trends and momentum in an asset’s price movement. Traders use it to spot potential buy or sell signals through crossovers between the MACD and signal lines.
As with SPX, when an asset’s MACD line is above its signal line, it indicates bullish momentum, suggesting that the asset’s price may continue to rise. Traders view this crossover as a bullish signal, supporting SPX’s ongoing rally.
If the rally persists, the meme coin could break above $1 and climb toward $1.21.
On the other hand, if buying activity stalls, SPX could shed recent gains and plunge to $0.84.
Trading Volumes Spike, But Meme Market Retail Boom Yet to Return
While these altcoins appear poised for potential gains over the next few weeks, the general meme market may face some headwinds. In an interview with S, Community Lead at Neiro, summer months typically see a slowdown in broader market activity, and meme coins are not immune to that seasonal trend.
“It still feels early for full-blown market euphoria. Historically, summer tends to be slower across financial markets, crypto included. Whether we see a pullback is anyone’s guess, but momentum is essential, when things stop growing, they often start fading. If that momentum slows, it’s something the market should take seriously,” S noted.
S added that while the trading volumes have spiked, the meme coin market has yet to see a return to the retail mania of 2021. For now, activity remains largely driven by crypto-native investors and whales.
“So far, it looks like most of the activity is still coming from crypto-native circles. We haven’t seen the kind of mainstream retail frenzy we saw in 2021 or even 2017. That wave hasn’t hit yet—but when it does, it’s bound to bring with it the chaos, creativity, and memes we all know and love. Personally, I’m looking forward to that.”
Earlier reports from VanEck’s Matthew Sigel suggested that Circle’s planned IPO had a $4 to $6 billion equity valuation. So, it looks like Ripple attempted to match that valuation.
The planned IPO and current circumstances suggest that Circle may be open to acquisition offers in the future. After all, analysts have previously raised concerns about Circle’s financials.
Circle’s revenues grew 16% but EBITDA and Net Income fell sharply.
Why? Four main reasons –>
Increased Partner Costs: A significant rise in distribution and transaction costs driven by higher fees paid to partners like Coinbase, due to increased reserve income and strategic… https://t.co/CHEv1PFdOk
— matthew sigel, recovering CFA (@matthew_sigel) April 1, 2025
Ripple’s executives, for their part, recently asserted that they have no plans to go public. However, the company has shown increasing interest in acquisitions.
Under Trump’s pro-crypto shift, Ripple is seeing a major opportunity to achieve dominance in the US market. As the SEC lawsuit nears an end, the firm is seemingly eyeing an aggressive expansion strategy.
It would be a powerful business opportunity if the firm could take over Circle’s stablecoin expertise and market share. For now, it is unclear if any further negotiations will take place, or if any other firms will make larger offers.