Latest news with #Trenchev
The Herald Scotland
02-07-2025
- Business
- The Herald Scotland
"Historic convergence" of crypto and golf at Trump Aberdeen
In addition to title partner of the Scottish Championship, Nexo also becomes an official partner to five further events on the circuit this year including next week's Genesis Scottish Open in East Lothian. Among the others are the Betfred British Masters hosted by Sir Nick Faldo, the BMW PGA Championship, the Abu Dhabi HSBC Championship, and the season-ending DP World Tour Championship in Dubai. Read more: Officials say the agreement marks the first-ever multi-year partnership between a digital assets company and a major global golf tour, making it "a historic convergence of crypto and golf". The deal caps a fruitful few months for Nexo, which said in April that it was re-entering the US market after a two-year hiatus caused by regulatory challenges. Co-founder Antoni Trenchev attributed the move to a more favourable environment under the Trump administration. "Thanks to the vision and leadership of President Donald J. Trump, his administration, and his family, the United States is once again a place where innovation is championed, not stifled - a place where pioneers are celebrated," Mr Trenchev said at a press conference in Bulgaria. Speaking about today's announcement, DP World Tour executive commercial director Max Hamilton said Nexo's "forward-thinking approach to innovation and performance aligns seamlessly with ours". Read more: "Just as the DP World Tour connects global golf fans using the latest technologies, Nexo is reshaping wealth-building with digital tools. Our audience is global, affluent, and financially savvy – making this partnership a powerful platform for strategic engagement.' Mr Trenchev added: 'This partnership reflects our belief that wealth and golf are built the same way: with preparation, control, and vision. "Both the DP World Tour and Nexo share a commitment to precision, discipline, and performance – whether on the course or in finance. Golf is a natural fit for our brand: elevated, global, and principled.'
NBC News
08-05-2025
- Business
- NBC News
Bitcoin jumps above $100,000 for first time since February
Bitcoin on Thursday hit its highest level since February, climbing back above the key $100,000 level. The price of the flagship cryptocurrency was last higher by nearly 5% at $100,881.90, according to Coin Metrics. The move began overnight after President Donald Trump first teased an announcement between the U.S. and the United Kingdom on trade. Bitcoin continued its climb and touched $100,000 as Trump revealed a broad outline of the agreement on Thursday morning. Stocks also rallied. 'Bitcoin has not only reclaimed $100,000 for the first time in three months but it's also reaffirmed its status as the ultimate bouncebackability asset as the prospects for U.S. trade deals brighten,' said Antoni Trenchev, co-founder of crypto exchange Nexo. The recent market uncertainty has been a boon for bitcoin — and it could continue to lift the flagship crypto with investors beginning to doubt the safe-haven status of the U.S. Although the Trump administration has walked back some of its aggressive rhetoric on tariffs, investors are still looking for clarity on what trade policy will be. 'Bitcoin remains buttressed by a pro-crypto Trump administration along with hungry buying from spot-ETF investors … while its outperformance versus U.S. equity benchmarks in 2025 highlights its resilience and safe haven status,' Trenchev said. 'Expect bitcoin's resilience to be tested further in an uncertain and volatile global macro and geopolitical environment,' he added. 'Look no further than rising tensions between India and Pakistan, which risk escalating into a full blown conflict. Meanwhile we have a Federal Reserve in no rush to cut rates and equally concerned about unemployment and inflation.' Stocks rose broadly, with the Dow Jones Industrial Average up more than 500 points. Coinbase advanced more than 5%, and Strategy gained nearly 7%. Other cryptocurrencies, which have struggled to keep pace with bitcoin this year, rallied. Ether jumped 13%, while the token tied to Solana gained 9% and dogecoin rose 11%. Since Trump introduced the tariff policy in early April that rocked markets for several weeks, bitcoin is up more than 16%. In the same period, spot gold has gained nearly 6% while the S&P 500 marginally higher. Bitcoin isn't out of the woods, however, until it tops its January high of about $109,350, and the cryptocurrency could languish in its post-election trading range — between $70,000 and $109,000 — for another two months, Trenchev said. Still, he added, 'the retaking of $100,000 must go down as one of bitcoin's more formidable feats and is a reminder that buying peak fear — just last month Bitcoin was languishing around $74,000 — can be exceptionally lucrative.'
