The company posted a roughly $372 million first-half loss and carried out a 1-for-40 reverse stock split in May to maintain its Nasdaq listing.

Bitcoin is holding near $78,000 after gaining about 24% in August. Washington is preparing for another consequential vote on crypto regulation later this month.

Strategy raised more than $600 million by selling common stock and also spent nearly $152 million repurchasing preferred shares as it reshapes its balance sheet.

Investors have become more flexible in the investments they choose, yet the platforms serving them have often remained divided by asset class.

Armada Acquisition Corp. II shareholders will vote Sept. 30 on the merger, with the combined company expected to trade under the ticker XRPN.

Treasury moves to support the long end of the bond market helped fuel Bitcoin's latest advance, but crypto traders are now focused on what Warsh says about inflation, rates and financial innovation.

The cryptocurrency has jumped about 22% since Aug. 20. Analysts say profit-taking and overbought conditions could slow further gains.