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BitMine (BMNR) faces $8 billion paper loss on its ether holdings

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BitMine Immersion Technologies (BMNR), the world’s largest Ethereum-focused treasury company, is now sitting on nearly $8 billion in post-Ether paper losses. ETH$2,113.11 fell below $2,000 on Thursday. The company, led by widely followed Wall Street bull Thomas Lee, accumulated 4.29 million ETH at an estimated cost of $16.4 billion, according to DropStab data. This reserve […]

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US Treasury’s Bessent Slams Crypto ‘Nihilists’ Resisting Market Structure Bill

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US Treasury Secretary Scott Bessent has fired warning shots at crypto insiders who are pushing back on negotiations on a digital asset market structure bill in the Senate – briefly aligning with Democratic Senator Mark Warner in expressing frustration during a hearing on Thursday. “There seems to be a nihilistic group in the industry that

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BTC losses from Michael Saylor’s strategy reach $6.5 billion

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Strategy (MSTR), the largest publicly traded company holding Bitcoin BTC$71,091.27is seeing a rapid increase in losses on its vast holdings. The company currently owns 713,502 BTC at an average acquisition price of $76,052. With spot bitcoin trading at nearly $67,000, that represents an unrealized loss of nearly $6.5 billion, or about 12% of that average

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Solana Foundation’s Liu Urges Refocus on Finance as Crypto Slides and Narratives Shrink

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Blockchains should refocus on their original purpose: finance, Lily Liu, president of the Solana Foundation, wrote on Thursday X, rejecting years of narratives that attempted to present the technology as a widespread replacement for the modern Internet. “Blockchains have always been and always will be a technology for finance,” Liu wrote, describing financialization and the

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Leveraged long positions on Bitfinex at highest level in two years as prices collapse

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Bullish bitcoin bets funded with borrowed money are increasing on Bitfinex, one of the oldest crypto exchanges, even as the price continues to fall. Long margin positions climbed to around 77,100 BTC, the highest level since December 2023, when bitcoin was trading near $40,000, according to TradingView data. Long margins have increased by 64% over

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Tether invests $100 million in US-regulated crypto bank Anchorage

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Tether, the company behind the world’s largest USDT stablecoin, said it has invested $100 million in Anchorage Digital, a federally regulated digital asset bank. Anchorage, which holds a national banking charter in the United States, offers stablecoin custody, staking, settlement and issuance services to institutional clients. The two companies already had a working relationship, with

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EU risks falling behind US on tokenization, digital asset firms warn

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The race to modernize capital markets with blockchain is heating up – and Europe could lose its lead to the United States, a group of blockchain companies warned in a letter published Thursday. Eight EU-regulated digital asset companies – Securitize, 21X, Boerse Stuttgart Group’s Seturion, Central Securities Depository, Lise, OpenBrick, STX and Axiology – are

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GlobalStake rolls out Bitcoin yield gateway as institutions revisit BTC yield

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Institutional attitudes toward Bitcoin yield are starting to change and there is now renewed interest in BTC rewards after years of skepticism driven by the risk of smart contracts, leverage and opaque strategies, GlobalStake co-founder Thomas Chaffee told CoinDesk on Thursday. Products that allow users to monetize their bitcoin holdings often require integrating BTC into

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GlobalStake rolls out Bitcoin yield gateway as institutions revisit BTC yield

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Institutional attitudes toward Bitcoin yield are starting to change and there is now renewed interest in BTC rewards after years of skepticism driven by the risk of smart contracts, leverage and opaque strategies, GlobalStake co-founder Thomas Chaffee told CoinDesk on Thursday. Products that allow users to monetize their bitcoin holdings often require integrating BTC into

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21M Bitcoin (BTC) Supply Cap Won’t Help Stop Selling: Crypto Daybook Americas

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By Omkar Godbole (All times ET unless otherwise noted) With Bitcoin BTC$69,270.10 as the bear market rages and the price has fallen to the lowest since November 2024, its main pitch, a hard cap of 21 million bids, faces new skepticism. Some observers say alternative investment vehicles like ETFs, cash-settled futures and options, and other

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