Crypto World
Eric Trump Says American Bitcoin Mines Up to 13 BTC Daily at 49% Margins
Eric Trump says American Bitcoin (ABTC) mines between 11 and 13 BTC daily at close to 49% gross margins, running nearly 90,000 miners. The company’s own quarterly filings largely support those figures.
Speaking on the Wolf Financial podcast, the co-founder and president’s son framed the output as proof of one of the sector’s most efficient mining operations, months after a public dispute over the firm’s true production costs.
Numbers Track With Recent Filings
American Bitcoin was founded in 2025 by Eric Trump and Donald Trump Jr. The venture merged with Gryphon Digital Mining to list on the Nasdaq under the ticker ABTC in September 2025. Hut 8 Corp, which backed the venture, remains the majority owner.
The company’s treasury has grown to about 8,300 BTC as of late August, according to Trump. That is up from roughly 5,401 BTC at the end of 2025, continuing an accumulation strategy that has drawn comparisons to Strategy.
It mined a record 932 BTC in the second quarter of 2026, its highest output yet. Gross margins that quarter landed near 49%, matching the figure Trump cited.
Bitcoin (BTC) traded near $77,696 as of writing, up 0.49% over 24 hours. That gives the reserve a paper value above $600 million.
A Disputed Cost Basis
The margin claim follows a spring dispute over the firm’s true production costs. Forbes alleged American Bitcoin’s all-in cost ran closer to $90,000 per coin, above the roughly $57,000 figure Trump has repeated. Trump rejected the report as politically motivated.
Neither side has published a fully reconciled cost breakdown since. American Bitcoin markets its no-sale treasury policy as proof that mining bitcoin is cheaper than buying it outright. That claim hinges on which cost figure holds up.
The post Eric Trump Says American Bitcoin Mines Up to 13 BTC Daily at 49% Margins appeared first on BeInCrypto.
An attacker allegedly pushed Tectonic’s thinly traded TONIC token up 100-fold, used it as collateral to borrow real assets and left most funds stranded when Cronos validators paused the network.
Chinese President Xi Jinping and First Lady Peng Liyuan arrive in Bishkek, Kyrgyzstan, on August 30, 2026, for an official state visit and to attend the upcoming Shanghai Cooperation Organization (SCO) Summit on September 1.
Anadolu | Anadolu | Getty Images
Chinese President Xi Jinping is set to make rare state visits to Egypt and, likely India, before his expected trip to the U.S. in late September.
Xi has “sharply curtailed foreign travel in recent years, so his busy upcoming travel schedule is a significant gauge of his priorities,” Gabriel Wildau, managing director at Teneo, told CNBC in an email.
The Chinese leader this year has so far only ventured abroad once: a state visit in June to North Korea for the first time in seven years. Meanwhile. the world has come to China, with more than 20 leaders — including U.S. President Donald Trump — visiting Beijing in the first half of the year, pointed out U.S.-based think tank Center for Strategic and International Studies.
The global stakes have only risen, with the Iran war, U.S.-China trade tensions and growing security risks from artificial intelligence. For Beijing, that’s building the case for an evolution in its global role.
“It’s time for China to probably take bigger responsibility, provide more global public goods,” said Hai Zhao, a director of international political studies at the Chinese Academy of Social Sciences, a state-affiliated think tank.
“Because of China’s deep integration into the global economy, China is an integral part of the solution,” he said, whether it’s supply chain security, oil flows through the Strait of Hormuz or cybersecurity.
Xi landed in Bishkek, Kyrgyzstan, on Sunday. The country is hosting the security-focused Shanghai Cooperation Organization summit Monday and Tuesday. The annual event gathers the heads of Russia, India and other non-Western nations.
As part of the same trip, which runs through Thursday, Xi plans to make his first state visit to Egypt in a decade. China has built up its presence in the Suez Canal region with a bilateral economic and trade cooperation zone.
Xi is then expected to attend another non-Western leaders’ summit, BRICS, which will be held in New Delhi from Sept. 12 to Sept.13. China has yet to confirm Xi’s participation. It would be Xi’s first visit to India since 2019 and after the deadly border clashes between the two countries in 2020.
Washington is watching
Experts said the U.S. will be monitoring developments at the SCO and BRICS summits, as it looks to improve ties with India and China but plans to get tougher on Russia to bring an end to Moscow’s war with Ukraine.
Last year, as the U.S. imposed tariffs against Beijing and New Delhi, a clip of Xi, Indian Prime Minister Narendra Modi and Russian President Vladimir Putin laughing together at the SCO summit in Tianjin went viral.
The meeting drew the ire of Washington, with Trump claiming that it had “lost India and Russia to deepest, darkest, China.”
A lot has changed since. In February this year, Trump announced that he would scale back the tariffs on India to 18% from 50%, and the two countries are in the process of negotiating a trade deal. Trump also made a landmark visit to China earlier this year, and Xi is expected to visit Washington in September, after the BRICS summit.
But India and China still face threats of up to 100% tariffs from Washington if the U.S. House passes the Graham bill, which punishes countries buying Russian oil. More than 50% of India’s crude supplies originated from Russia in June and July, and were around 43% as of last week, according to Kpler data.
“Visible warmth” between Modi and Putin “could shape the President’s [Trump] calculations over using potential new secondary tariff authorities,” over India’s purchases of Russian oil, Richard M. Rossow, senior advisor and chair on India and Emerging Asia Economics at CSIS, told CNBC.
Meanwhile, experts expect New Delhi to use its presence at the SCO and BRICS summits to highlight the strength of its multi-polar alignment. India is much closer to the U.S. than Russia or China, but it will use the SCO and BRICS to show Washington that it has other partners, they said.
The Indian side, through these meetings, will convey to the U.S. that “there will be a price if you continue to remain uncertain,” Pramit Pal Chaudhuri, South Asia practice head at Eurasia Group, told CNBC.
Elephant-dragon tango
After their SCO meeting, Xi and Modi are expected to meet in New Delhi for the BRICS summit.
The ties between the two neighbors have improved over the last year after Modi and meeting in Tianjin last year. Direct flights have resumed between India and China, a few old Silk Road trade routes have opened, and in March India relaxed rules around investment from Beijing.
Last week, the two sides also agreed to work on resolving their long-standing border disputes. Yet, the issues between the two sides are far from resolved. According to local media reports, Indian businessmen and executives are facing “significant difficulties” in getting Chinese visas.
“It is good to see India-China tensions confined to trade and visas!” Rossow told CNBC, adding that it is an improvement over the earlier military confrontation.
The two sides are trying to balance commercial linkages, experts said.
While India is easing investment rules for Chinese firms, it is also imposing some trade restrictions on goods in sectors where India is closer to self-sufficiency. Meanwhile, China is wary of technology transfers to India as it could undermine Beijing’s role in key global supply chains.
India, for example, is already emerging as a key supplier for Apple smartphones after the company started diversifying its manufacturing base away from China. As per the Indian government, the country is already the world’s second-largest mobile phone maker.
U.S.-China tech focus
Technology is rapidly emerging as a critical issue for the Trump-Xi summit in Washington, D.C., expected Sept. 24. China has not officially confirmed a visit. Senior officials from both sides met in Beijing last week — amid tough talk from the Trump administration over China’s alleged role in financing Iran.
Wang Huning, chairman of the National Committee of the Chinese People’s Political Consultative Conference, last week also met with U.S. delegates in Beijing for a “Track 1.5” semi-official dialogue, led in part by the Rockefeller-founded nonprofit Asia Society. Its CEO Kevin Rudd said the meeting discussed the possibility of U.S.-China AI guardrails and bilateral collaboration on global cancer research.
If increasingly powerful large language models fall “into the wrong hands it will be very damaging both to the U.S. and China and to the global economy,” Zhao said. He expects the two leaders could also set up a mechanism to guide AI development, while extending a truce on tariffs will be critical for bilateral stability.
But Teneo’s Wildau was less optimistic, given “widespread conviction that AI development is a zero-sum game.”
After jumping past $79,000 on Sunday evening, bitcoin entered the new business week on the wrong foot, slipping below $77,000 in an hour or so as geopolitical tensions returned to financial markets.
The decline came amid renewed fighting between the United States and Iran, following nearly a month of relative calm as the US reportedly focused only on increasing economic pressure. US Forces struck two Iranian launchers on the island of Larak on Sunday, while the latter retaliated with strikes against military targets stationed in Jordan.
US President Trump’s AI video of how Kharg Island, Iran’s key oil region, is being “blown to smithereens” didn’t help defuse the situation either.
Oil Up, Asian Markets Down
Brent crude reacted immediately with a near-3% surge to over $90 per barrel, reviving concerns about another energy-driven inflation shock. This is particularly worrisome following Fed Chair Kevin Warsh’s hawkish speech at Jackson Hole on Friday, as higher oil prices deteriorate the inflation picture.
In contrast to oil, Asian stock markets headed south after the attacks went public, with Japan’s Nikkei falling by roughly 2%. South Korea’s Kospi and Chinese equities also turned red, while US and European stock futures followed suit. The Japanese yen weakened beyond 160 against the greenback.
Bitcoin dipped below $77,000, losing over $2,000 of value. Additional pressure came from Wintermute, as on-chain data showed that the entity transferred 5,100 BTC, worth almost $400 million, to Binance over the past two days, likely intending to sell.
Although this transfer doesn’t guarantee that Wintermute has sold, recall that similar actions taken by the market maker last week resulted in another leg down for BTC and the alts.
Ethereum’s situation was even worse, as it plunged from over $2,500 to under $2,400 in an hour. Lookonchain reported that a whale or an institution had deposited almost 41,000 ETH (worth over $100 million) onto exchanges, a move typically made before selling.
Liquidations on the Rise
The sharp move south led to over $400 million in wrecked positions on a daily scale, with the lion’s share coming earlier this morning. Interestingly, ETH longs are responsible for almost $100 million, while BTC longs are just $62.60 million, according to CoinGlass.
The single-largest wrecked position also involved the leading altcoin, with a trader getting liquidated for $6.12 million on Aster. In total, more than 100,000 over-leveraged traders were wiped out in the past day.
The post Bitcoin Dumps Below $77K as US-Iran Strikes Resume: Who Else Might Be Behind the Drop? appeared first on CryptoPotato.
Bitcoin (BTC) is up roughly 24% in August, its largest monthly advance of 2026. This month’s rally lifted the asset from the $60,000s to briefly over $80,000.
However, three warning signs now emerge: exchange balances, exchange-traded fund (ETF) flows, and spot demand have all turned less supportive during the closing days of August.
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Bitcoin Warning Signs Build as Binance Reserves Hit a 2026 High
Binance’s Bitcoin reserves have climbed to roughly 687,000 BTC, the highest level recorded in 2026, according to CryptoQuant data. Reserves dropped near 617,000 BTC in late April before reversing. The build then accelerated through August, as Bitcoin rallied.
Traders usually move coins onto an exchange to sell, hedge, or post collateral. Therefore, a rising balance during a rally makes more supply immediately available for sale.
The number alone proves nothing. Wallet reorganizations, custody shifts, and market-making transfers also lift exchange balances.
Still, that supply now sits on the largest venue while shrinking exchange stablecoin reserves leave less idle cash ready to absorb it.
“A yearly high in Binance reserves near major resistance is a warning sign. The next move above $80,000 will likely depend on whether spot and ETF demand can absorb the additional supply potentially available to the market,” XWIN Japan wrote.
ETF Inflow Streak Breaks as Weekly Demand Halves
Meanwhile, US spot bitcoin ETFs posted a $201.8 million net outflow on August 28, according to SoSoValue data. That red session ended nine consecutive days of inflows, which came as Bitcoin recorded its largest weekly dollar gain on record.
Other major products stayed green on the same day. Ethereum (ETH) funds drew $102.18 million, while XRP (XRP) and Solana (SOL) products added $26.2 million and $18.08 million.
Weekly flows cooled as well. Net inflows fell 51.8% to $924.5 million in the week ending August 28, down from $1.92 billion.
One negative session does not confirm a reversal. However, ETF flows are a major source of demand for Bitcoin, and that may be thinning.
Leverage, Not Spot Buying, May Be Driving the Move
Finally, analyst Crypto Rover argued that the weekend advance lacked spot participation.
“BTC is moving higher over the weekend while spot CVD remains almost flat, suggesting leverage is driving the move. Last time we spotted this same setup, Bitcoin dumped from $81K to $77K,” the post read.
Spot cumulative volume delta (CVD) tracks the balance between aggressive buyers and sellers in spot markets. A flat CVD during a rally can suggest that derivatives or leveraged positions, rather than strong spot demand, are driving the move.
Not every analyst reads the setup that way. GSR’s Andy Baehr has framed the $80,000 breakout as a new market regime built on ETF demand and short liquidations.
Seasonality offers thin comfort. September has averaged a 3.08% loss for Bitcoin since 2013, Coinglass data shows, the weakest average month of the year.
Recent years cut the other way. The last three Septembers all closed green, including gains of 5.16% in 2025 and 7.29% in 2024.
The coming sessions should show whether spot and ETF buyers can absorb the coins now parked on Binance.
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The post Bitcoin Enters September With 3 Warning Signs After 24% August Rally appeared first on BeInCrypto.
BTC remains August’s best-performing asset after the latest escalation in geopolitical tensions.
Tiff Macklem, governor of the Bank of Canada, left, Kevin Warsh, chairman of the US Federal Reserve, center, and Andrew Bailey, governor of the Bank of England at the Jackson Hole Economic Symposium in Moran, Wyoming, on Aug. 28, 2026.
David A. Grogan | CNBC
Federal Reserve Chair Kevin Warsh’s stance in his speech at the Jackson Hole meeting was unexpectedly hawkish, boosting market expectations for a rate hike next month.
Gold fell and Asian stocks declined on Monday. Traders of fed funds futures see a 60.4% chance of a quarter-point hike in September, up from around 56% on Friday, according to the CME’s FedWatch tool.
Here’s what market watchers are saying about Warsh’s speech:
Hawkish surprise
“Chair Warsh’s Jackson Hole address surprised us in its specificity about the economy and outlook and with its lean in a decidedly hawkish direction,” Deutsche Bank said. The firm continues to expect the Fed to hike 50 basis points this year, with increases at the September and December Federal Open Market Committee meetings.
“The emphasis on inflation risks, together with Warsh’s explicit commitment to achieving price stability and his reluctance to pre-commit to future policy actions, reinforces the elevated risks of policy tightening this year, although it could also be the case of talking without action, UOB said in a note.
Near-term data focus
“The sensitivity to near-term inflation data is high,” Nomura said in a note. “Warsh delivered hawkish remarks at the Jackson Hole economic symposium, emphasizing the importance of the inflation target and implying policy may need to react if disinflation is not occurring with speed.”
Reinforcing independence
Warsh’s assessment that U.S. economic performance has been robust “was seen as reducing the case for near-term rate cuts,” according to James Ooi, market strategist at Tiger Brokers. His “emphasis on the 2% inflation target could be read as an effort to reinforce the Fed’s independence and credibility, reassuring markets that monetary policy will not bend to fiscal pressures.”
Hike skepticism
Matthew J. Maley, chief market strategist at Miller Tabak + Co. however believes that “there remains no empirical basis for the rate hike.”
“Warsh appears to be talking up inflation so that he can claim credit for taming it when headline measures inevitably come down,” Maley said, adding that the labor market data has been weak while the inflation data has been better than expected since the last FOMC meeting.
Fed vs Treasury
Warsh’s reiteration that short-term interest rates should remain the main instrument of monetary policy implies that he will continue to shorten the average duration of the Fed’s balance sheet, Gavekal Research said in a note.
“This seems to put the Fed at odds with the US Treasury, which earlier in August announced that it will step up its buybacks of long-term treasury securities in an apparent attempt to prevent yields rising further at the long end,” Gavekal added.
Negative for gold
“Warsh pledged to return inflation to the 2% target and indicated rates could rise further, strengthening the dollar and reversing part of the debasement trade that had lifted gold roughly 14% in August—its strongest monthly gain this century,” according to Susquehanna.
—CNBC’s Joanna Ossinger contributed to this report.
Hair loss biotechs are racing to deliver the first new baldness treatments in nearly three decades, and investors are positioning for the payoff.
Veradermics, Absci, and Cosmo Pharmaceuticals are advancing a pill, an injection, and a topical drug for pattern hair loss, a condition with no newly approved therapy since the late 1990s.
Hair Loss Biotechs Eye A Market Waiting For A Cure
Pattern hair loss affects an estimated 50 million men and 30 million women in the United States, according to Bloomberg. Current options are limited to decades-old drugs minoxidil and finasteride. Both are tied to side effects that include heart palpitations and reduced sex drive.
Veradermics (NYSE: MANE) is developing an oral pill, VDPHL01, and its stock has climbed nearly 500% since its February IPO. Absci (NASDAQ: ABSI) is testing an injection dosed two to three times over six months, and its shares have more than doubled so far this year.
Cosmo Pharmaceuticals posted positive late-stage trial results for a topical solution but has traded more cautiously against its US rivals.
Investors Chase A GLP-1 Style Trade
The enthusiasm echoes Eli Lilly’s stock rally, which reshaped investor appetite for consumer health biotech. Its weight loss drugs first drove that shift.
Eli Lilly has since invested $40 million in Absci, betting hair regrowth could follow a similar injectable playbook.
“Both obesity and hair loss are large consumer markets and that’s one reason why both of those categories can offer significant revenue potential.”
Geoff Hsu, portfolio manager at OrbiMed’s Biotech Growth Trust, Fortune
None of the three companies has an approved product yet. The earliest regulatory filings are not expected before 2027. Investors are pricing in demand years before any drug reaches pharmacy shelves.
The post Hair Loss Biotechs Emerge As Wall Street's Newest Growth Trade appeared first on BeInCrypto.
Crypto.com CEO Kris Marszalek said the company’s app and exchange were unaffected by the Tectonic breach and continued operating normally.
BlackRock’s tokenized US Treasury fund, BUIDL, has reclaimed the top spot among products of its kind, with a market capitalization of roughly $2.8 billion.
Token Terminal data shows BUIDL now holds about 18.5% of the $15.1 billion tokenized Treasury market, narrowly ahead of Circle’s USYC.
A Fast-Changing Leaderboard
Tokenized Treasury funds let institutions hold short-term US government debt on a blockchain. Settlement happens around the clock, instead of the multi-day cycles typical of traditional bond markets.
That structure has made them a popular option for institutions parking idle cash or posting yield-bearing collateral.
USYC only briefly held the top spot. The fund grew from about $600 million to nearly $3 billion over the past year.
It reached roughly $2.9 billion by late August, edging past BUIDL’s $2.7 billion, according to Token Terminal data. It then lost the lead again this week.
BUIDL is BlackRock’s USD Institutional Digital Liquidity Fund, administered by Securitize. USYC, meanwhile, represents a share in Circle’s Hashnote-based fund, which Circle folded into its stablecoin business after acquiring Hashnote in 2025.
Why the Swap Matters
Neither fund has held the lead for long, and that instability is itself notable. It suggests institutions are actively comparing competing Treasury products rather than settling on a single default option.
That competition signals this corner of the tokenized asset market is maturing into a genuine, contested category. It is no longer a niche dominated by a single early mover.
The bigger question is whether institutional interest stays confined to government bond products. It could instead spread into other parts of on-chain finance.
So far, the growth has stayed concentrated in Treasuries, even as the broader real-world asset (RWA) sector expands.
The post BlackRock's BUIDL Reclaims Top Spot for Tokenized Treasuries, Bolstering RWA Market appeared first on BeInCrypto.
Before the Sunday strikes, the last time the U.S. military confirmed targeting Iran was on July 29, announcing a “heavy wave of strikes” on dozens of IRGC targets in Iran, including command centers, missile and drone facilities, and coastal surveillance and defense sites.
On Aug. 1, President Donald Trump said that he agreed to “hold off” strikes in Iran at the request of the U.S.’s regional allies in the Middle East.
The strikes mark the latest escalation of the war in Iran that began on Feb. 28, and from which Trump has struggled to find an off-ramp.
The war has led to a blockade of the Strait of Hormuz, which before the hostilities was one of the world’s most important energy transit routes, through which about a fifth of the world’s oil supply previously passed.
A U.S. naval blockade on Iranian ports was lifted in June, but it proved temporary, with the President reimposing the blockade after a deal to cease hostilities fell apart.
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