Latest news with #AmericanBitcoin
Yahoo
22-07-2025
- Business
- Yahoo
Gryphon Digital Mining (GRYP) Enters Into a Definitive Merger Agreement With American Bitcoin Corp.
Gryphon Digital Mining, Inc. (NASDAQ:GRYP) is one of the top bitcoin mining stocks to buy amid bitcoin hike. On May 9, Gryphon Digital Mining, Inc. (NASDAQ:GRYP) entered into a definitive merger agreement with American Bitcoin Corp. to form a combined company that would operate under the brand American Bitcoin and be led by the board of directors of American Bitcoin. Source: PixaBay The transaction is expected to close as early as Q3 2025, and management anticipates the combined company to trade on NASDAQ under the ticker symbol 'ABTC.' The merger is expected to bolster their market positioning in the digital asset mining sector. In other news, Gryphon Digital Mining, Inc. (NASDAQ:GRYP) regained compliance with NASDAQ listing requirements as of June 6, ensuring its presence on the Nasdaq Capital Market, a critical factor for maintaining market stability and investor confidence. Gryphon Digital Mining, Inc. (NASDAQ:GRYP) is a bitcoin mining company that offers carbon-neutral bitcoin mining and digital mining operations. While we acknowledge the potential of GRYP as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
Bloomberg
15-07-2025
- Business
- Bloomberg
Crypto Is Going To Be a Multi-Trillion Dollar Industry: Trump Jr.
CC-Transcript 00:00 Crypto is going to be the future of finance. Yeah, okay. We were doing everything imaginable in the prior administration to send that to other places. People want to be in America. They want to invest in America. They want that stability. What they needed to some guide rails. They needed a framework in which they could work even for us in the crypto platforms that we were developing, whether it was American Bitcoin, whether it's World Liberty Financial. We didn't get into that because we knew all that much about crypto. We got into it out of necessity because we were getting deep banked. There wasn't a person in this city that I couldn't call and get a loan for a real estate project a few short years ago. Then we became political and all of a sudden you're persona non grata. So crypto's the future to be able to have the legislation to create those guardrails, to be able to keep that industry, there is going to be a multitrillion dollar industry, and it should be based here in America. America should get the tax benefits of all of that. They should have the innovation, the growth, you know, that strategic thinking. And so I'm super excited about that, bill, because I think it's going to really make sure that America is the home of crypto and blockchain technology for the future.
Yahoo
04-07-2025
- Business
- Yahoo
Hut 8 (HUT) Moves 14.1% Higher: Will This Strength Last?
Hut 8 HUT shares soared 14.1% in the last trading session to close at $21.08. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 15.1% gain over the past four weeks. HUT is benefiting from its strategic transition to an integrated energy infrastructure platform, the launch of American Bitcoin, and its focus on capital-efficient growth and diversified revenue streams. This crypto currency mining company is expected to post quarterly loss of $0.15 per share in its upcoming report, which represents a year-over-year change of -850%. Revenues are expected to be $48.19 million, up 36.8% from the year-ago quarter. While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements. For Hut 8, the consensus EPS estimate for the quarter has been revised 1.4% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on HUT going forward to see if this recent jump can turn into more strength down the road. The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> Hut 8 is a member of the Zacks Financial - Miscellaneous Services industry. One other stock in the same industry, LendingClub LC, finished the last trading session 1.5% higher at $12.45. LC has returned 17.3% over the past month. LendingClub's consensus EPS estimate for the upcoming report has changed +4.5% over the past month to $0.15. Compared to the company's year-ago EPS, this represents a change of +15.4%. LendingClub currently boasts a Zacks Rank of #3 (Hold). Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Hut 8 Corp. (HUT) : Free Stock Analysis Report LendingClub Corporation (LC) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
02-07-2025
- Business
- Yahoo
Crypto Daybook Americas: Bitcoin Posts Record Monthly Close, but Euro Steals the Show
By Omkar Godbole (All times ET unless indicated otherwise) Bitcoin (BTC) ended June above $107,000 at a record monthly close. Still, the largest crypto's 2.5% monthly gain failed to match the euro's advance against the dollar, the most liquid FX pair in the world. The eurozone currency rose nearly 4% against the greenback last month, hitting its highest since September 2021. That prompted some traders to switch to euro-pegged stablecoins, resulting in a notable increase in their market values. The euro's momentum highlights the continued broad-based decline in the U.S. currency, which means financial conditions will likely remain easy, even though the weakness hasn't done much to lift a directionless BTC. The prolonged range play has been widely attributed to selling by wallets with a history of holdings coins for over a year. The profit-taking continued on Monday, with on-chain realized gains hitting the $2.4 billion mark. BTC was recently trading 0.6% lower over 24 hours at $106,500. Other tokens, including XRP, DOGE, SOL and ETH, followed suit, while BCH, ALGO, and PAXG stood out. Some analysts called for patience in the wake of continued institutional adoption. On Monday, Germany's savings bank network said it will enable crypto trading for clients within a year. Strategy disclosed another major BTC purchase last week, acquiring $531 million worth of BTC. "While short-term momentum has faded, medium-term signals remain bullish, especially with corporate treasuries accelerating their accumulation pace. We slightly reduced exposure to protect capital but remain constructive — especially on altcoins with room to catch up," Valentin Fournier, lead research analyst at BRN. That said, the third quarter has historically been bitcoin's weakest. Moreover, liquidity tends to be weaker as well due to summer holidays, which raises the likelihood of exaggerated price moves. Remember the yen-led crash in BTC from $70,000 to $50,000 in late July to early August last year? This calls for caution even as analysts maintain the long-term constructive outlook. In other news, American Bitcoin, a crypto firm backed by Eric Trump, raised $220 million to buy bitcoin and mining equipment. An FTX creditor posted on X that claims under $50,000 received 120% payouts in February and May 2025. Bloomberg ETF analysts James Seyffart and Eric Balchunas said that there's a 95% chance the U.S. SEC will approve spot ETFs for LTC and XRP this year. In traditional markets, analysts awaited the Fed Chairman Jerome Powell's speech later Tuesday and Friday's nonfarm payrolls. Stay alert! Crypto July 2: Shares of the REX-Osprey Solana Staking ETF (tSSK) are expected to begin trading on the Cboe BZX Exchange, making this the first U.S.-listed ETF to combine SOL price exposure with on-chain staking rewards. Macro Day 2 of 3: ECB Forum on Central Banking (Sintra, Portugal) July 1, 9 a.m.: S&P Global releases June Brazil data on manufacturing and services activity. Manufacturing PMI Prev. 49.4 July 1, 9:30 a.m.: 'High Level Policy Panel' discussion chaired by Fed Chair Jerome H. Powell at the ECB Forum on Central Banking in Sintra, Portugal. Livestream link. July 1, 9:45 a.m.: S&P Global releases (final) June U.S. data on manufacturing and services activity. Manufacturing PMI Est. 52 vs. Prev. 52 July 1, 10 a.m.: The Institute for Supply Management (ISM) releases June U.S. services sector data. Manufacturing PMI Est. Est. 48.8 vs. Prev. 48.5 July 1, 10 a.m.: The U.S. Bureau of Labor Statistics releases April U.S. labor market data (i.e. the JOLTS report). Job Openings Est. 7.3M vs. Prev. 7.391M Job Quits Prev. 3.194M July 2, 9:30 a.m.: S&P Global releases June Canada data on manufacturing and services activity. Manufacturing PMI Prev. 46.1 July 3, 8:30 a.m.: The U.S. Bureau of Labor Statistics releases June employment data. Non Farm Payrolls Est. 110K vs. Prev. 139K Unemployment Rate Est. 4.3% vs. Prev. 4.2% Government Payrolls Prev. -1K Manufacturing Payrolls Est. -6K vs. Prev. -8K July 3, 8:30 a.m.: The U.S. Department of Labor releases unemployment insurance data for the week ended June 28. Initial Jobless Claims Est. 240K vs. Prev. 236K Continuing Jobless Claims Est. 1960K vs. Prev. 1974K July 3, 9 a.m.: S&P Global releases June Brazil data on manufacturing and services activity. Composite PMI Prev. 49.1 Services PMI Prev. 49.6 July 3, 9:45 a.m.: S&P Global releases (final) June U.S. data on manufacturing and services activity. Composite PMI Est. 52.8 vs. Prev. 53 Services PMI Est. 53.1 vs. Prev. 53.7 July 3, 10 a.m.: The Institute for Supply Management (ISM) releases June U.S. services sector data. Services PMI Est. 50.5 vs. Prev. 49.9 Earnings (Estimates based on FactSet data) None in the near future. Governance votes & calls GnosisDAO is voting on renewing its partnership with Nethermind for Gnosis Chain maintenance and development, proposing 750,000 DAI funding for the first year from June, with 4% annual increases. Voting ends July 2. Radiant DAO is voting on potentially compensating users whose wallets were drained via unlimited token approvals in the October 2024 hack. If passed, a follow-up plan would outline stablecoin conversions, claim contracts on Arbitrum, and phased repayments. Voting ends July 2. Arbitrum DAO is voting on lowering the constitutional quorum threshold from 5% to 4.5% of votable tokens. This aims to match decreased voter participation and help well-supported proposals pass more easily, without affecting non-constitutional proposals, which remain at a 3% quorum. Voting ends July 4. Polkadot Community is voting on launching a non-custodial Polkadot branded payment card to 'to bridge the gap between digital assets in the Polkadot ecosystem and everyday spending.' Voting ends July 9. Unlocks July 1: Sui (SUI) to unlock 1.3% of its circulating supply worth $122.75 million. July 2: Ethena (ENA) to unlock 0.67% of its circulating supply worth $10.59 million. July 11: Immutable (IMX) to unlock 1.31% of its circulating supply worth $10.65 million. July 12: Aptos (APT) to unlock 1.76% of its circulating supply worth $52.7 million. July 15: Starknet (STRK) to unlock 3.79% of its circulating supply worth $14.42 million. July 15: Sei (SEI) to unlock 1% of its circulating supply worth $15.73 million. July 16: Arbitrum (ARB) to unlock 1.87% of its circulating supply worth $30.33 million. Token Launches July 4: Biswap (BSW), Stella (ALPHA), Komodo (KMD), LeverFi (LEVER), and LTO Network (LTO) to be delisted from Binance. The CoinDesk Policy & Regulation conference (formerly known as State of Crypto) is a one-day boutique event held in Washington on Sept. 10 that allows general counsels, compliance officers and regulatory executives to meet with public officials responsible for crypto legislation and regulatory oversight. Space is limited. Use code CDB10 for 10% off your registration through July 17. Day 2 of 4: Ethereum Community Conference (Cannes, France) Day 2 of 6: World Venture Forum 2025 (Kitzbühel, Austria) Day 1 of 6: Bitcoin Alaska (Juneau, Alaska) July 4-5: The Bitcoin Paradigm 2025 (Neuchâtel, Switzerland) July 4–6: ETHGlobal Cannes (Cannes, France) July 10-13: Mallorca Blockchain Days (Palma, Spain) July 16: Invest Web3 Forum (Dubai) July 20: Crypto Coin Day 7/20 (Atlanta) July 24: Decasonic's Web3 Investor Day 2025 (Chicago) July 25: Blockchain Summit Global (Montevideo, Uruguay) July 28-29: TWS Conference 2025 (Singapore) By Francisco Rodrigues While all eyes were on the introduction of Robinhood's tokenized stocks and on Kraken and Bybit's xStocks debut, a layer-2 network built to streamline DeFi quietly launched its mainnet yesterday. Katana's mainnet went live after it saw pre-deposits near $250 million, according to DeFiLlama data. The blockchain is backed by GSR and Polygon Labs. The non-profit Katana Foundation says the chain attacks three chronic pain points: thin liquidity, erratic yields and capital flight. It does so by folding yield generation into the base layer. When users bridge USDC, ETH, WBTC, AUSD or USDT, Katana's VaultBridge pushes those funds into lending pools such as those on Morpho and Sushi, then sends the earnings back to depositors and app builders. A separate mechanism called chain-owned liquidity captures transaction fees to bankroll the network over time. Katana is distributing its native token, KAT, through liquidity mining. KAT is non-transferable for now, but the team expects an exchange listing by next year. Holders will be able to lock tokens for vKAT and share in staking rewards. Perpetual funding rates for most tokens major tokens, including BTC and ETH, held marginally positive. XRP led with near 10% rates while XLM and ADA showed bias for shorts with sub-zero readings. On the CME, BTC and ETH futures basis remained locked in the annualized 7% to 10% range. On Deribit, risk reversals out to August-end expiry showed a bias for protective puts, with subsequent tenors showing a mild bias for calls. In ETH's case, bearishness in the short-term tenors was more pronounced. Block flows over the OTC desk Paradigm showed demand for the September expiry BTC $180K call option. BTC is down 0.91% from 4 p.m. ET Monday at $106,629.81 (24hrs: -0.96%) ETH is down 1.81% at $2,458.53 (24hrs: +0.15%) CoinDesk 20 is down 2.37% at 3,010.77 (24hrs: -0.17%) Ether CESR Composite Staking Rate is up 7 bps at 2.96% BTC funding rate is at 0.0048% (5.3042% annualized) on Binance DXY is down 0.47% at 96.42 Gold futures are up 1.49% at $3,357.10 Silver futures are up 1.81% at $36.50 Nikkei 225 closed down 1.24% at 39,986.33 Hang Seng closed down 0.87% at 24,072.28 FTSE is down 0.17% at 8,745.89 Euro Stoxx 50 is down 0.30% at 5,287.47 DJIA closed on Monday up 0.63% at 44,094.77 S&P 500 closed up 0.52% at 6,204.95 Nasdaq Composite closed up 0.47% at 20,369.73 S&P/TSX Composite closed up 0.62% at 26,857.11 S&P 40 Latin America closed up 1.41% at 2,694.58 U.S. 10-Year Treasury rate is down 2.9 bps at 4.197% E-mini S&P 500 futures are down 0.26% at 6,237.50 E-mini Nasdaq-100 futures are down 0.33% at 22,817.75 E-mini Dow Jones Industrial Average Index are down 0.13% at 44,331.00 BTC Dominance: 65.34% (0.19%) Ethereum to bitcoin ratio: 0.02307 (-0.6%) Hashrate (seven-day moving average): 869 EH/s Hashprice (spot): $57.97 Total Fees: 4.22 BTC / $455,433 CME Futures Open Interest: 147,470 BTC BTC priced in gold: 32.2 oz BTC vs gold market cap: 9.12% BTC fell 1% Monday, narrowly missing the bull flag breakout. The decline produced a bearish outside day candle, with a price range wider than the preceding day's candle. Bearish outside day candles appearing after notable price gains, as in BTC's case, signal renewed bearish trends. Strategy (MSTR): closed on Monday at $404.23 (+5.3%), -1.64% at $397.59 in pre-market Coinbase Global (COIN): closed at $350.49 (-0.83%), -1.53% at $345.12 Circle (CRCL): closed at $181.29 (+0.48%), +1.98% at $184.88 Galaxy Digital (GLXY): closed at $21.90 (+9.66%), +3.47% at $22.66 MARA Holdings (MARA): closed at $15.68 (+4.32%), -1.85% at $15.39 Riot Platforms (RIOT): closed at $11.3 (+7.11%), -1.59% at $11.12 Core Scientific (CORZ): closed at $17.07 (+2.52%), -1.52% at $16.81 CleanSpark (CLSK): closed at $11.03 (+3.37%), -1.81% at $10.83 CoinShares Valkyrie Bitcoin Miners ETF (WGMI): closed at $22.74 (+4.74%) Semler Scientific (SMLR): closed at $38.74 (+0.62%), +0.15% at $38.80 Exodus Movement (EXOD): closed at $28.83 (-3.42%), +1.14% at $29.16 Spot BTC ETFs Daily net flows: $102.1 million Cumulative net flows: $48.95 billion Total BTC holdings ~1.25 million Spot ETH ETFs Daily net flows: $31.8 million Cumulative net flows: $4.23 billion Total ETH holdings ~4.1 million Source: Farside Investors The dollar value of the total stablecoin transactions crossed above the $4 trillion mark in June, the most since January, according to data source Artemis. The data shows that while BTC's price didn't do much in the month, adoption of stablecoin continued unabated. Mexico and Brazil Seek Deeper Trade Ties to Expand Beyond US and China (Financial Times): Trump-era tariffs and new leftist governments have created a rare opening for Latin America's two largest economies to revisit a limited trade pact and explore deeper commercial integration. Trump Crypto Venture Raises $220 Million for Bitcoin Mining (Bloomberg): American Bitcoin raised $220 million from private investors including $10 million in bitcoin. Majority owner Hut 8 Corp. plans to take it public through a merger with Gryphon Digital Mining. XRP, TRX, DOGE Lead Majors With Positive Funding Rates as Bitcoin's Traditionally Weak Quarter Begins (CoinDesk): Perpetual funding rates indicate a bullish sentiment for top altcoins, with XRP showing the strongest demand, while rates for market leaders bitcoin and ether are marginally positive. Robinhood, Kraken-Backed Global Dollar (USDG) Comes to Europe (CoinDesk): USDG is regulated by the EU's Markets in Crypto-Assets (MiCA) framework, Finland's Financial Supervisory Authority and Singapore's Monetary Authority. MiCA requires issuer Paxos to hold reserves with European banking partners. The Dollar Has Its Worst Start to a Year Since 1973 (The New York Times): Trump's tariff policy, rising national debt, and the moves toward de-dollarization have reduced the dollar's appeal, even amid high interest rates and a booming stock market. ARK Invest Sold $95M of Coinbase Shares After COIN's Surge to Record Highs (CoinDesk): Monday's $43.8 million sale brings ARK's total to 270,984 COIN shares offloaded over three sessions, as the stock's surge above $380 triggered sales to keep COIN under 10% in its ETFs.
Yahoo
02-07-2025
- Business
- Yahoo
American Bitcoin, Backed by Eric and Donald Trump Jr, Pulls In $220M to Accumulate BTC
American Bitcoin Corp, a Miami-based mining company majority owned by Hut 8 (HUT) and backed by the Trump family, has raised $220 million from accredited investors, according to a filing with the U.S. Securities and Exchange Commission. The raise topped its target of $200 million, and it also accepted about $10 million worth of bitcoin (BTC) in lieu of cash, the filing details. The placement netted roughly $215 million after fees. The firm sold 11,002,954 Class A shares in total. The fresh capital will be used add bitcoin to the firm's treasury and upgrade its fleet of mining machines. The sons of U.S. President Donald Trump, Eric and Donald Trump Jr, owned American Data Center, which merged with American Bitcoin. According to earlier reports, American Bitcoin is 80% owned by Hut 8, with the Trump brothers owning 20%. In May, the firm announced it is vying a public listing by merging with Gryphon Digital Mining (GRYP). Hut 8's share are down 0.86% in pre-market trading at $ while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
