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Crypto

Trump Family Expands Crypto Bets as Thumzup Pivots Into Dogecoin Mining

by admin August 20, 2025

Thumzup Media Corp. (TZUP), which counts Donald Trump Jr. as a large shareholder, said it will acquire Dogehash Technologies, Inc. in an all-stock deal, pivoting from digital marketing into industrial-scale crypto mining

Under the agreement, Dogehash shareholders will receive 30.7 million Thumzup shares, according to a Tuesday release, valuing the transaction at $153.8 million, based on the shares’ closing price. The combined company will rebrand as Dogehash Technologies Holdings, Inc. and list on Nasdaq under the ticker XDOG, pending shareholder approval later this year.

Dogehash operates about 2,500 Scrypt ASIC miners across renewable-powered data centers in North America, with plans to scale up further in 2026. Unlike firms that pad their balance sheets by simply buying coins, Dogehash has invested in its own infrastructure, giving it direct exposure to dogecoin

and litecoin block rewards at a lower cost base.

The deal comes on the heels of Thumzup’s $50 million stock offering in July, earmarked for mining expansion and digital asset accumulation. The company says it will also use Dogecoin’s DogeOS layer 2 to stake in DeFi products, aiming to boost miner returns beyond standard rewards.

This new deal adds to the Trump family’s expanding crypto empire. Eric Trump and Donald Jr. launched American Bitcoin earlier this year with Hut 8, which has over 60,000 miners.

Meanwhile, World Liberty Financial, another Trump-backed venture, struck a $1.5 billion deal with Nasdaq-listed ALT5 Sigma to inject its WLFI token into the firm’s treasury.

Thumzup stock fell 41% to $5.01 on Tuesday.

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August 20, 2025 0 comments

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SEC Boss Calls for Protecting Crypto Markets Against ‘Regulatory Mischief’

by admin August 20, 2025

A new day for crypto
Future-proofing crypto industry

U.S. Securities and Exchange Commission Chair Paul Atkins has stated that the agency must craft a framework that would protect cryptocurrency markets against regulatory mischief in the future.

“I look forward to working with my counterparts across the Administration and Congress to get the job done,” Atkins stressed.

As reported by U.Today, Atkins stated that the agency was mobilizing all of its divisions in order to be able to achieve cryptocurrency dominance while also stressing that he was looking forward to more progress in Congress when it comes to cryptocurrency-focused legislative efforts.

A new day for crypto

During a recent appearance at the 2025 Wyoming Blockchain Symposium, which is taking place in Jackson Hole, Atkins stressed that it is “a new day” for the cryptocurrency industry.

“You know, the lawfare that was being waged over the last few years is, you know, even more than I imagined, he stressed.

Atkins has recalled that the SEC went from a “head-in-the-sand” approach, hoping that crypto would just go away, to active regulation by enforcement under Gensler.

Now, however, the SEC is embracing innovation. “We want to embrace innovation and, historically, the SEC, frankly, has not shunned innovation,” Atkins added.

Future-proofing crypto industry

Atkins has added that there are a lot of questions that have to be answered, stressing the importance of the recently passed GENIUS Act, which brings much-needed clarity to the stablecoin sector.

At the same time, he has stressed the need for future-proofing the industry from regulatory overreach, stressing that things will be different five or ten years from now.

“So, all I’m pleading for is, you know, flexibility so that we can keep the regulatory scheme adaptable to changes in the marketplace and technology as we go forward,” he added.

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August 20, 2025 0 comments

Crypto Trends

Publicly-Listed AMTD Group Wants Investors’ Crypto in Equity Swap Program

by admin August 20, 2025

In brief

The group said the program aims to diversify its business, believing it would serve as a bridge between crypto and the NYSE.
AMTD plans to use their media, hospitality, and education assets to offer asset-allocation support, VIP experiences, and financial education.
All three are micro to small-cap companies, with the largest running at about $509 million.

On Tuesday, three affiliated NYSE-listed companies under AMTD Group proposed a crypto-for-stock conversion program that would let holders swap Bitcoin, Ethereum, USDT, Binance’s BNB, and USDC for newly issued shares under the exchange.

AMTD IDEA (AMTD), AMTD Digital (HKD), and The Generation Essentials Group (TGE) formed the program with pricing that would be set by mutual agreement at prevailing market values, and allocations could be split across the three issuers.

Framing the plan as a “conduit and effective means” for portfolio diversification, the group said the issuances would “serve as a bridge connecting the world of crypto assets with one of the world’s leading stock exchanges.”

To flesh out what it touts as “adjacent offerings,” the group points to its media, hospitality, and education footprint as the delivery base.

Headquartered in France with presence in Singapore, AMTD runs digital media, marketing, investments, and hospitality/VIP services, while TGE owns L’Officiel, a French fashion magazine, and The Art Newspaper. It also operates entertainment projects and premium properties.

The group claims these assets will be used to help crypto holders “facilitate and better their experiences,” packaging asset-allocation support, leisure, and VIP experiences, as well as financial education.

The proposal also includes American depositary shares, which are U.S.-traded shares issued by a depositary bank that represent a specified number of a foreign issuer’s ordinary shares, among the securities that could be issued to crypto holders looking to convert their assets.

It’s worth noting that, by market capitalization size, the three are micro to small-cap issuers. AMTD has about $176 million, HKD has roughly $509 million, and TGE has $161 million in market size, per their respective data dashboards on Google Finance.

Of the three, only AMTD’s stock closed positively at 1.9%, with the other two down by 3.5% and 6.2% respectively, following the announcement.

The announcement disclosed no launch timeline, geography, investor eligibility, issuance caps, lockups, KYC or custody arrangements, or settlement mechanics, and stated it was not an offer or solicitation.

Decrypt reached out to the group for comment on whether the issuances would be registered, conducted as private placements, or offshore transactions, and whether U.S. persons would be eligible.

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August 20, 2025 0 comments

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SEC Chair Atkins Says Few Crypto Tokens Are Treated as Securities

by admin August 20, 2025

On Tuesday, August 19, 2025, U.S. Securities and Exchange Commission (SEC) Chair Paul Atkins said that a very small percentage of crypto tokens are treated as securities. Speaking at the Wyoming Blockchain Symposium, Atkins emphasized that the SEC is taking a fresh approach to digital assets, saying most tokens are not necessarily securities, financial instruments regulated under U.S. law.

“From the SEC’s perspective, we will plow forward on this idea that just the token itself is not necessarily a security,” Atkins said. “Very few, in my mind, tokens that are securities, but it depends on the package around it and how it’s being sold.”

Atkins’ comments mark a major shift from former SEC Chair Gary Gensler, who labeled the “vast majority” of crypto assets as securities under the Howey test, a legal standard used to determine if an investment qualifies as a security.

Gensler resigned on January 20, 2025, paving the way for Atkins’ appointment, with Commissioner Mark Uyeda serving as Acting Chair in the interim.

Congress Pushes Crypto Market Rules

The remarks come as Congress moves to create clearer rules for digital assets. The House of Representatives passed the Digital Asset Market Clarity (CLARITY) Act in July 2025, a law designed to define and regulate U.S. crypto markets clearly.

Senate Banking Committee Chair Tim Scott indicated bipartisan support for market structure legislation when the Senate returns from recess on September 2, 2025, noting as many as 18 Democrats could join Republicans in backing the bill.

Atkins also touched upon the Project Crypto initiative of the SEC, which is supposed to create regulatory frameworks to govern companies that trade in blockchain-based tokens, protecting investors without stifling innovation in the crypto market.

This direction is an indicator of a more discriminatory regulatory approach to digital assets, which gives clarity to businesses and investors who are trying to navigate the emerging U.S. crypto market.

Also Read: SEC Extends Review of Nine Crypto ETF Filings Into October

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August 20, 2025 0 comments

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Fed’s Top Banking Regulator Floats Allowing Staff to Hold Crypto

by admin August 20, 2025

In brief

Fed Vice Chair for Supervision Michelle Bowman said staff should be allowed to hold small amounts of crypto to gain practical understanding.
Her remarks emphasized blockchain’s potential to reduce friction in asset transfers and called for legal frameworks to evolve in parallel.
Legal experts say her comments mark a regulatory shift, though some warn staff holdings could pose conflict-of-interest risks.

Federal Reserve Vice Chair for Supervision, Michelle Bowman, told a crypto conference in Jackson Hole on Tuesday that she favors allowing central bank staff to hold small amounts of crypto, an idea that, if formally proposed, could alter the Fed’s internal rules and spur debate over how the institution engages with digital assets.

The approach should consider allowing Federal Reserve staff “to hold de minimus amounts of crypto or other types of digital assets,” Bowman told audiences in prepared remarks at the Wyoming Blockchain Symposium on Tuesday.

Bowman framed the conversation as one about tokenization’s role in reducing frictions in asset transfers, highlighting how the technology could streamline ownership changes, cut costs, and expand access to capital markets.

“It is possible that we could see a ‘tipping point’ where the processes themselves are well-established, and legal frameworks have been updated to permit a wider range of activities relying on the new technology,” she explained.

A “similar challenge with blockchain technologies” is that adoption depends not only on technical progress but also on legal and regulatory frameworks keeping pace with how the systems are used in practice, Bowman noted.

“We stand at a crossroads: we can either seize the opportunity to shape the future or risk being left behind,” Bowman said.

Crypto policy and legal observers argue Bowman’s comments amount to more than industry talk, carrying weight beyond the symposium setting.

Her remarks “hint at a more open, balanced regulatory approach,” and “show the Fed moving from caution to curiosity,” which could mean U.S. regulators are leaning on “practical understanding over pure caution,” Vincent Liu, chief investment officer at Kronos Research, told Decrypt.

“Bowman’s remarks cannot be dismissed as mere rhetoric; they represent an inflection point in the U.S. regulatory approach to crypto that we can no longer avoid as a country,” Andrew Rossow, a public affairs attorney and CEO of AR Media Consulting, told Decrypt. “They challenge not only the ‘how’ but the ‘why’ of financial supervision.”

Such a stance would “necessitate rigorous legal frameworks, public debate, and more efficient legislative action to balance practical expertise with the highest standards of integrity and public trust,” Rossow explained.

Yet Rossow also cautions that Bowman’s suggestion raises questions about conflicts of interest.

“Regulators cannot realistically avoid the danger of perceived partiality or diminished public trust if staff directly hold even small amounts of speculative assets,” he said, adding that “practical exposure” and direct crypto ownership may not be the “only effective path to regulatory competence.”

Rossow argued that episodes from Enron to the Silk Road and FTX show how repeated crises expose the dangers of “blind reliance on fear of abuse,” making clear the need to reckon with their lasting significance. “The answers are right in front of us, and they’re hauntingly beautiful,” he said.

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August 20, 2025 0 comments

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Fed Official Says Staff Should Be Allowed To Hold Crypto

by admin August 20, 2025

The Federal Reserve’s top regulatory official says staff from the US central bank should be allowed to invest a small amount in crypto to help them understand the technology.

Fed vice chair for supervision Michelle Bowman said at a blockchain event in Wyoming on Tuesday that the regulator should consider allowing its staff “to hold de minimus amounts of crypto or other types of digital assets so they can achieve a working understanding of the underlying functionality.”

“We will soon be establishing a framework for supervising issuers of these assets,” she added.

“There’s no replacement for experimenting and understanding how that ownership and transfer process flows.”

Currently, most Fed staffers and their spouses are barred from owning crypto or products that concentrate on crypto, such as exchange-traded funds or shares in crypto companies.

The Fed tightened its rules on all investments in early 2022 after it was revealed that three top officials had unusual trading activity in 2020, as the regulator took action to support the US economy in the early days of the COVID-19 pandemic.

Allowing crypto could help recruitment, rulemaking

Bowman said the Fed staff investment restrictions “may be a barrier to recruiting and retaining examiners with the necessary expertise,” and easing the rules would help existing staff better understand the technology.

Michelle Bowman giving prepared remarks at the Wyoming Blockchain Symposium 2025 on Tuesday. Source: YouTube“I certainly wouldn’t trust someone to teach me to ski if they’d never put on skis, regardless of how many books and articles they have read, or even wrote, about it.”

Bowman urges Fed not to “stand still”

In her speech, Bowman said bank regulators had an “overly cautious mindset” and urged them to be less skeptical of new financial products and “recognize the utility and necessity of embracing technology in the traditional financial sector.”

She said some bankers are concerned that blockchain technology threatens traditional business models, but that technology could “change the banking system regardless of how banks and regulators choose to respond.”

“We must choose whether to embrace the change and help shape a framework that will be reliable and durable — ensuring safety and soundness and incorporating the benefits of both efficiency and speed — or to stand still and allow new technology to bypass the traditional banking system altogether,” she added.

“From a regulator’s perspective, the choice is clear.”

Related: New crypto advocacy group debuts at Wyoming summit

Bowman said she recognized the risks in adopting new technology, but those could be offset or “at least determined to be manageable when we recognize and consider the potentially extensive benefits of new technology.”

Trump’s crypto-friendly push

Bowman didn’t specify the types of crypto products or what amounts she would suggest the Fed allow, but her comments are the latest crypto-friendly remarks regulators have taken under the Trump administration.

On Friday, the Fed said it would end a supervision program for crypto and blockchain-related activities undertaken by banks, which the Biden administration set up in 2023.

Trump also signed an executive order earlier this month directing banking regulators to investigate claims of debanking made by the crypto sector and conservatives.

Trade Secrets: Ether could ‘rip like 2021’ as SOL traders brace for 10% drop

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August 20, 2025 0 comments

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Bitmine Becomes 2nd Largest Crypto Treasury Company: Now Holding $6.6B In Ethereum

by admin August 20, 2025

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

BitMine, a publicly traded company renowned for its bold treasury strategy, has officially become the second-largest crypto treasury company in the world. The firm now holds more than $6.6 billion worth of Ethereum (ETH), totaling 1.52 million tokens — a staggering 1.26% of the total ETH supply.

This milestone underscores BitMine’s aggressive accumulation strategy, which has set it apart from other institutions and corporate treasuries in the crypto space. What makes this move even more significant is BitMine’s long-term vision: the company has set a target of holding 5% of Ethereum’s total supply, meaning they are already 25% of the way toward their ambitious goal.

The announcement sends a strong signal to markets and institutional investors. Ethereum’s growing role as both a financial and technological backbone of Web3 is attracting corporations to treat ETH not just as an asset, but as a strategic reserve. BitMine’s approach mirrors the conviction once seen in Bitcoin-focused treasury strategies, but it places Ethereum front and center in the evolving digital asset economy.

BitMine Becomes The Leading Ethereum Treasury

BitMine has cemented its position as the largest Ethereum treasury in the world, now holding over $6.6 billion worth of ETH, up from $4.9 billion just last week. This rapid increase highlights the company’s aggressive accumulation strategy and its conviction in Ethereum’s long-term value. The treasury currently accounts for 1.52 million ETH, making BitMine the undisputed leader in Ethereum corporate holdings.

BitMine Latest Crypto Transactions | Source: Arkham Intelligence

Globally, BitMine now ranks as the second crypto treasury company overall, second only to Michael Saylor’s Strategy, which dominates Bitcoin holdings. This milestone underscores the shifting landscape of institutional crypto adoption, where Ethereum is increasingly being recognized as more than just the leading smart contract platform — it is becoming a core reserve asset.

Notably, BitMine now holds more ETH than Sharplink Gaming, The Ether Machine, and The Ethereum Foundation combined. This marks a turning point in the treasury race, where corporations are no longer competing on Bitcoin alone but are diversifying into Ethereum at unprecedented levels.

This growing trend is likely to continue as ETH gains momentum, supported by strong institutional demand, ETF inflows, and broader adoption across decentralized finance and real-world asset tokenization. Analysts believe that if BitMine maintains its current pace, its treasury strategy could reshape how companies manage long-term reserves in the digital economy.

ETH Facing Critical Test

Ethereum is currently trading near $4,310 after a sharp retrace from its recent peak above $4,790. The chart highlights that ETH has entered a consolidation phase after weeks of strong bullish momentum, with price now testing key support levels.

ETH is trading above key demand levels | Source: ETHUSDT chart on TradingView

The 50-day moving average is trending upward and currently sits near $3,560, well below current price levels, signaling that the broader bullish structure remains intact. Meanwhile, the 100-day and 200-day moving averages at $3,048 and $2,575, respectively, also confirm strong long-term support. This alignment suggests that despite the pullback, Ethereum’s broader trend is still positioned for growth.

If ETH manages to hold this level, a rebound back toward resistance at $4,600–$4,800 is likely in the short term. However, a breakdown below support could open the door for a deeper retrace toward $3,800. The coming sessions will be key to determining direction.

Featured image from Dall-E, chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.

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August 20, 2025 0 comments

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Senator Tim Scott courts Democrats for crypto bill as Warren rallies opposition

by admin August 19, 2025

By putting a number on his expected Democratic support, Senator Scott appears to be applying pressure and cracking a public whip count that might force hesitant senators to declare their position, turning a policy debate into a political test of loyalty and vision.

Summary

Senator Tim Scott predicts 12 to 18 Democrats may back the CLARITY Act in September.
The bill seeks to establish U.S. crypto market structure and regulatory clarity.
Scott identifies Senator Elizabeth Warren as a key obstacle to bipartisan support.

Speaking at the Wyoming Blockchain Symposium on August 19, Republican Senator Tim Scott publicly quantified his expected Democratic support for the upcoming CLARITY Act, predicting between 12 to 18 cross-aisle votes.

The Senate Banking Committee Chairman detailed his outreach to Democrats, framing the vote as a necessary step to provide regulatory certainty in the crypto industry and to deliver on President Trump’s stated goal of making the U.S. a global hub for digital finance.

Notably, Scott directly addressed the primary obstacle, naming Senator Elizabeth Warren as the central “force to overcome” for Democrats who might otherwise be inclined to support the market structure legislation.

Warren’s objections and the politics of crypto regulation

The Senate’s draft bill, which builds upon the House’s CLARITY Act, seeks to clarify how the SEC and CFTC divide oversight and provide legal certainty for exchanges and token issuers.

For its backers, the bill represents a long overdue modernization of financial rules to accommodate crypto, a sector that has grown far faster than regulators’ ability to police it. Scott and other Republicans argue that without a comprehensive structure, innovation will drift overseas, leaving American markets behind.

Warren, the Banking Committee’s top Democrat, has cast the bill in starkly different terms. She has lambasted the Republican draft as an “industry handout,” arguing it creates a bespoke regulatory regime with weaker consumer protections and lighter compliance burdens than those mandated for traditional banks and financial institutions.

The Senator’s central critique is that the bill, shaped significantly by industry input, prioritizes the wishes of the crypto lobby over the financial safety of everyday Americans, potentially exposing the economy to systemic risks. She ties this to a broader narrative of corruption, highlighting the potential for conflicts of interest.

The political elephant in the room

Senator Elizabeth Warren’s line of criticism dovetails with a potent political attack from Democrats focused on President Trump’s business interests. They point to the estimated $620 million in profits his family has reportedly garnered from various crypto ventures, including DeFi projects and memecoins, as evidence that the administration’s pro-innovation stance is less about national policy and more about personal enrichment.

This framing appears to taint the entire legislative effort, making support for the bill politically toxic for Democrats by associating it with the President’s private financial gains.

Despite this formidable hurdle, Scott’s optimism is fueled by more than just hope. It is rooted in the unprecedented alignment of a crypto-friendly executive branch. He is counting on the Trump administration to act as a powerful ally, both in lobbying hesitant legislators and in preparing the regulatory machinery for a swift implementation should the bill pass.

“We now have a team that’s leaning in and we feel like we have to get it done now. Executive action is not enough – period. If one president hated it, this one loves it, we need a Senate and a House that gets legislation passed,” Scott said in a statement.

What is at stake in September is nothing less than the immediate future of the American digital asset industry. Senator Scott’s self-imposed end-of-month deadline for committee action is a critical test of his political capital and his ability to forge a working coalition.

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August 19, 2025 0 comments

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Best Crypto Investment Ideas According to CEO of $1.6T Asset Manager Franklin Templeton

by admin August 19, 2025

Bitcoin

aside, the best investment in crypto is its “picks and shovels,” according to the CEO of $1.6 trillion asset manager Franklin Templeton.

Jenny Johnson, the third-generation leader of the manager, spoke at the SALT conference in Jackson Hole, Wyoming on Tuesday, doubling down on what in her opinion will be the biggest use cases of blockchain technology and where investors should put their money.

In her view, bitcoin functions as a “fear currency” — a financial refuge for people in countries where governments can block access to funds or where national currencies lose value over time. But despite its appeal in those scenarios, she sees it as a distraction.

Bitcoin, she argues, is the “greatest distraction for one of the greatest disruptions that is coming to financial services.”

That disruption, she said, lies in the underlying infrastructure — not in digital assets themselves, but in the systems that support them. That’s where she believes capital should be focused.

“The picks and shovels are the baseline of the strong, layered apps,” Johnson said. “I like the rails as a starting point,” she added, referring to blockchain networks. “Then there are some great consumer apps that are coming out that I think are really exciting.”

She also sees promise in the role of validators, the entities that maintain blockchain networks. For active investment managers, they could offer a new layer of transparency and are a “game changer”.

“Just imagine seeing on public equity all the transactions that go in and out of that company and how much information that gives you,” she said.

Johnson led the asset management firm into digital assets after taking over her family’s company in 2020. Under her leadership, the firm has launched multiple crypto exchange-traded products and introduced the OnChain U.S. Government Market Fund, a tokenized investment vehicle.

She expects financial products like mutual funds and ETFs to eventually move to blockchains, where they could operate more efficiently and at lower cost. But for now, regulation remains the “biggest inhibitor” to that shift, she said.

Part of the hesitation, she added, comes from the sheer number of digital assets likely to fail — a level of risk regulators aren’t yet prepared to manage.

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August 19, 2025 0 comments

Crypto Trends

U.S. Federal Reserve’s New Supervision Chief Sold on Bringing Crypto to Finance

by admin August 19, 2025

The U.S. Federal Reserve’s newest vice chair who supervises Wall Street banking, Michelle Bowman, made a crypto speech on Tuesday that could have been uttered by one of the industry’s own policy wonks, advocating that banks get behind the digital assets surge and that the Fed give the sector rules that won’t get in crypto’s way.

At the Wyoming Blockchain Symposium, Bowman warned banks that don’t embrace the shift toward crypto “will play a diminished role in the financial system more broadly,” and she further underlined what’s already been an obvious change in crypto sentiment from U.S. banking regulators.

“Your industry has already experienced significant frictions with bank regulators applying unclear standards, conflicting guidance, and inconsistent regulatory interpretations,” she said. “We need a clear, strategic regulatory framework that will facilitate the adoption of new technology, recognizing that in some cases, it may be inadequate and inappropriate to apply existing regulatory guidance to address emerging tech.”

In March, President Donald Trump nominated Bowman to be elevated from a board seat to the role of vice chair for supervision, and she was sworn in about two months ago. She’ll occupy a leading role in the Fed’s writing and adoption of rules for stablecoins, as outlined by the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, and her latest remarks show how much she’s aligned with the president on fostering the technology.

“Regulators must recognize the unique features of these new assets and distinguish them from traditional financial instruments or banking products,” Bowman said, advocating that the pending rules be closely tailored to what the industry is doing and not a “worst-case scenario.”

Bowman addressed asset tokenization, saying it can make transfers of ownership faster, mitigate “well-known risks” and make the process cheaper, and she said stablecoins are “positioned to become a fixture in the financial system.”

“It is essential that banks and regulators are open to engaging in new technologies and departing from an overly cautious mindset,” she said.

The vice chair also said the agency “should consider allowing Federal Reserve staff to hold de minimus amounts of crypto or other types of digital assets so they can achieve a working understanding of the underlying functionality.”

“I certainly wouldn’t trust someone to teach me to ski if they’d never put on skis, regardless of how many books and articles they have read, or even wrote, about it,” Bowman remarked.

Read More: U.S. Federal Reserve’s New Supervision Chief Will Wield Crypto Authority

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August 19, 2025 0 comments