Crypto World
Bitmine ETH Holdings Near 5% as Ether Breaks $2,500
Tom Lee’s Bitmine Immersion Technologies continued its accumulation of Ether last week, adding to its holdings as the cryptocurrency staged a sharp breakout following a prolonged downturn.
The company disclosed Monday that it purchased 32,447 Ether (ETH) last week, bringing its total holdings to 5,847,611 ETH, or roughly 4.8% of Ethereum’s circulating supply. Bitmine has acquired ETH every week since launching its Ethereum treasury strategy on June 30, 2025, extending its buying streak to roughly 14 months.
The company’s NYSE-traded shares were up about 8.7% to open the week, poised to extend their almost 28% gains over the past six months.
Bitmine is now 97% of the way toward its stated goal of owning 5% of the ETH supply. It has also staked 5.07 million ETH, representing about 87% of its holdings, and reported combined crypto, cash, securities and other investments of $14.9 billion.
The latest purchase coincided with a sharp rally across Ether and the broader cryptocurrency market. ETH has outperformed Bitcoin since last Wednesday, when the US Treasury announced plans to double its monthly purchases of certain longer-dated US Treasurys to $4 billion from $2 billion beginning next month.
Ether has gained more than 32% since the announcement, breaking above $2,500 for the first time since January, according to CoinMarketCap data.
Related: Crypto Biz: Treasury’s ‘Not-QE’ playbook sends Bitcoin higher
Ether price rebound cuts Bitmine’s paper losses
Bitmine’s aggressive Ether purchases during the market downturn left the company sitting on steep unrealized losses as ETH prices continued to fall. However, the cryptocurrency’s recent recovery has significantly narrowed that shortfall.
Bitmine has invested more than $19.5 billion in its Ether treasury, with its paper losses falling to below $5 billion from more than $8.4 billion roughly a week ago, according to DropsTab data.

Bitmine’s unrealized losses on its ETH holdings have narrowed amid the market recovery. Source: DropsTab
The sharp swings highlight the challenges of managing digital asset treasuries, whose valuations can fluctuate significantly with changing market conditions.
Related: Ethereum Foundation warns some tools may break with Glamsterdam upgrade
Crypto World
Zcash (ZEC) Explodes to an 8-Year High, But an Analyst Warns of a Major Crash
ZEC is one of the best-performing top 100 cryptocurrencies over the past week, with its price surging by nearly 65%.
And while many market observers believe the bulls aren’t done yet, one analyst warned that a violent move south could come next. Here’s why.
ZEC is Not BTC
The cryptocurrency market has enjoyed a sudden and evident resurgence over the last several days, following the monetary policy changes in the US announced by the Treasury Department, among other factors.
ZEC caught the green wave and rallied harder than BTC, ETH, XRP, and many other popular cryptocurrencies, probably because another catalyst directly affected it. As CryptoPotato reported, the leading digital asset manager Grayscale revealed discussions with a Digital Currency Group (DCG) subsidiary over a contribution of roughly 200,000 ZEC to its Zcash Trust. Later, it was revealed that the product would be converted into an ETF, with the launch scheduled for August 25.
ZEC’s price briefly jumped to roughly $880 on August 23, representing the highest mark since January 2018. In the following hours, the bulls lost some steam, and the asset currently trades at around $848 (per CoinGecko), with a market capitalization of over $14 billion.
X user jussy recently opined that ZEC “is looking good” after its solid increase, anticipating further gains to $930 if it successfully breaks $850. For their part, Crypto Tony claimed that $1,000 is the minimum of the cycle.
Contrary to the predominant optimistic views, Crypto with Harris ₿ argued that ZEC’s “real value” lies below $500. The analyst reminded about the critical vulnerability Zcash experienced earlier this year, which triggered a massive price collapse. Back then, the crash prompted some prominent industry figures, such as Arthur Hayes, to sell their entire positions in the coin.
Crypto with Harris ₿ paid close attention to ZEC’s chart and noted that the price is well above its daily averages and even the upper Bollinger Band. In their view, this is proof that the move has already been “extremely stretched,” warning people to be aware of influencers who project rallies beyond $2,000.
“ZEC is ZEC. It is not Bitcoin,” they concluded.
Another Bearish Sign
Anyone looking to engage with ZEC should also take into account its recent exchange net flow.
Over the last several days, inflows have far outpaced outflows, indicating that many investors have abandoned self-custody and flocked to centralized platforms. This is considered a bearish signal as it increases immediate selling pressure.

The post Zcash (ZEC) Explodes to an 8-Year High, But an Analyst Warns of a Major Crash appeared first on CryptoPotato.
Crypto World
Germany Expands MiCA Role as EU Register Adds 6 More Banks
Germany has extended its lead in the EU’s MiCA licensing rollout, after ESMA added six more crypto asset service providers registered under the Markets in Crypto-Assets Regulation. With the latest update, the total number of authorized CASPs across the European Union now stands at 331.
In the previous ESMA register update on Aug. 12, the additions were also reflected in the count. The most recent change, released on Friday, specifically increases Germany’s share by adding six German cooperative banks to the list of licensed entities.
Key takeaways
- ESMA’s MiCA register now lists 331 authorized crypto asset service providers (CASPs) after Friday’s update.
- Germany added six new CASPs, all cooperative banks, bringing the country’s total to 79.
- Germany leads the EU standings by CASPs, ahead of France (35) and the Netherlands (29).
- ESMA’s non-CASPs datasets tied to asset-referenced tokens (ART), electronic money tokens (EMT), and non-compliant entities were unchanged.
ESMA adds six German cooperative banks
According to ESMA’s MiCA register update published on Friday, six entities were added to the list of authorized crypto asset service providers. Compared with the Aug. 12 update, each of the newly registered providers is German and operates as a cooperative bank:
- Raiffeisenbank Aidlingen
- Ihre Volksbank
- VR-Bank Mittelfranken Mitte
- Volksbank Euskirchen
- VR Bank Ried-Überwald
- Volksbank Backnang
This expansion reinforces Germany’s position as the most active EU market in terms of MiCA authorizations, at a time when investors are watching which jurisdictions are moving fastest through the new regulatory framework.
Germany’s MiCA authorization gap widens
Germany now accounts for 79 CASPs under MiCA, compared with France’s 35 and the Netherlands’ 29, based on ESMA figures previously reviewed by Cointelegraph. The country’s lead has also been building quickly: Germany’s total stood at 57 CASPs in late June, when Cointelegraph reported that Germany was already ahead in the number of authorizations.
The pace matters because MiCA authorization is a prerequisite for compliant crypto-asset services across the EU. A larger number of authorized providers can translate into broader availability of regulated services for users in that country and potentially more competition among licensed entities.
Why Germany has more CASPs than its peers
Germany’s higher authorization count reflects structural features of its financial sector and how existing regulatory pathways mapped onto MiCA’s implementation. In June, Germany’s Federal Financial Supervisory Authority (BaFin) told Cointelegraph that the high number of MiCA authorizations is partly due to the country’s large financial industry and the number of credit institutions that are eligible to offer crypto services.
BaFin also pointed to Germany’s earlier national licensing regime. The regulator said that this established framework allowed some CASPs to benefit from simplified authorization procedures during the transition to MiCA, helping explain why the authorizations in Germany accelerated earlier and at a higher volume than in some other jurisdictions.
Token-category registers remain stable
Beyond the CASP register, ESMA maintains datasets related to specific token classifications. In the Friday update, those token-category datasets did not change: the asset-referenced token (ART) register remained empty, the electronic money token (EMT) register continued to show 43 entries, and the list of non-compliant entities stayed at 167.
For market participants, these static figures are useful context. While the number of licensed service providers is climbing, the token-category registers indicate that the regulatory focus is still separating the licensing progress of service firms from the readiness and reporting status of token issuers or categories tracked under ESMA’s framework.
Readers should watch the next ESMA register releases for whether Germany’s additions continue at the same pace, and whether any movement appears in the ART and non-compliant entity datasets—areas that remain unchanged despite growth in CASP authorizations.
Crypto World
Coinbase-Linked Group Backs US Midterm Candidates Ahead of Vote
Stand With Crypto, an advocacy group launched by Coinbase in 2023, has endorsed 32 candidates for U.S. House races ahead of the 2026 midterm elections. The group says the move is designed to shape federal digital-asset policy by backing lawmakers it views as credible champions for the sector.
In a notice issued Monday, Stand With Crypto framed its candidate slate as part of a broader effort to mobilize “crypto voters,” arguing that digital-asset issues may become more influential in close races where candidates seek support beyond traditional political constituencies. The organization’s executive director, Mason Lynaugh, said the timing reflects what he called an inflection point for crypto policy in Washington.
Key takeaways
- Stand With Crypto endorsed 32 House candidates for the 2026 midterms based on their stated digital asset policy views.
- The group is targeting competitive races where it believes its influence is most likely to matter for outcomes.
- Stand With Crypto argues crypto voters are becoming a durable bloc that can affect tight congressional elections.
- The push lands as the Senate’s next steps on the Digital Asset Market Clarity (CLARITY) Act remain uncertain.
A targeted endorsement strategy for 2026
Stand With Crypto said its slate is intended to influence how digital assets are regulated and overseen at the federal level. The group did not present a full list of criteria in the notice excerpt, but it characterized the backed candidates as “proven digital asset policy champions” and emphasized its focus on races most likely to swing based on its outreach.
The endorsement announcement follows earlier activity from the organization. It previously unveiled initial endorsements in March as part of its broader midterm plan, describing a battleground approach meant to help candidates move from their primaries into the November election. According to the notice, that initial tranche included three Republicans and three Democrats who advanced to the general election.
While the group’s messaging is political, it arrives in a wider environment where crypto-linked spending has increasingly intersected with U.S. election cycles. During the 2024 election cycle, organizations and political action committees backed by crypto companies spent more than $170 million to support candidates they believed would be favorable to the industry, and many of those candidates won, according to the notice.
Why the midterms matter for crypto legislation
Stand With Crypto’s endorsement push is anchored to the argument that congressional elections can determine whether major crypto policy proposals move forward. The group pointed to the 2025 flow of pro-crypto candidates into Congress, claiming that more than 270 such candidates were sent to Washington in 2025—an outcome the organization linked to potential progress on legislation, including the GENIUS Act, which concerns stablecoin-related frameworks.
For investors and builders, the practical implication is straightforward: crypto policy is still shaped less by broad market narratives and more by whether specific bills gain traction in both chambers and the extent to which lawmakers treat digital-asset regulation as a near-term priority. In that sense, the group’s focus on competitive House seats fits a common legislative dynamic—narrow margins in the House can change committee influence and voting outcomes.
At the same time, the organization’s claims about crypto voters being a “durable, motivated” bloc reflect a strategic bet: that voters attentive to digital-asset issues may be sufficiently organized to affect campaigns even when crypto does not dominate national headlines.
CLARITY still faces timing risk in the Senate
Separate from the endorsement slate, the legislative timeline for one of the sector’s key policy proposals remains a live issue. The Digital Asset Market Clarity (CLARITY) Act, which the House passed with bipartisan support in July 2025, is still pending in the Senate. The notice highlights that Senate discussions have included topics such as ethics requirements, tokenization provisions, and stablecoin rewards.
Under the current schedule described in the coverage, CLARITY is expected to be considered through a cloture motion once the Senate returns from recess on Sept. 15. However, the Senate would have only 14 days in session before breaking ahead of the November election, creating a narrow window for the bill to advance.
After the midterms, the Senate would have another 22 days before 2027 to bring CLARITY back to the chamber. If the bill reaches final action in that later period, it could then return to the House and ultimately move to the president for approval.
The notice also points to political pressure on the Senate in the immediate term. Earlier coverage cited the president, Donald Trump, standing alongside several crypto CEOs and executives to urge lawmakers to pass what he described as a “fair version” of CLARITY. That push, however, may face credibility hurdles given the broader public scrutiny around Trump’s financial ties to the industry, with a cited poll showing a majority of Americans calling those crypto investments not “appropriate.”
For market participants, these dynamics matter because the Senate calendar and the bill’s handling—whether it can be processed in time to clear major procedural hurdles—could determine whether a clearer regulatory structure arrives before or after the 2026 election cycle. Even when legislation is broadly supported, procedural delays can push outcomes into later sessions and lengthen uncertainty around implementation.
What to watch next
As the 2026 midterm clock moves forward, attention should track not only which candidates Stand With Crypto supports, but also whether CLARITY can progress through the Senate in the limited post-recess window. The biggest open question for the next phase of U.S. crypto regulation remains timing: whether lawmakers can convert the legislative momentum already shown in the House into Senate action before politics and procedural constraints reshuffle priorities.
Crypto World
Bitcoin nears $80,000, but analysts say the next pullback will be key

Analysts say consolidation could strengthen bitcoin’s rally, while thin trading above $80,000 may set up sharper price moves.
Crypto World
HR World Summit South Africa Returns to Johannesburg for Its 5th Edition
Bringing Together HR Leaders to Shape the Modern Workplace in South Africa
16th September 2026 | Johannesburg, South Africa
Johannesburg, 3 July 2026: As South Africa’s business landscape evolves in response to rapid technological advancement, changing workforce expectations, and increasing economic complexity, the role of Human Resources has become more strategic than ever before. Today, HR leaders are responsible for workforce planning, leadership development, employee experience, skills transformation, and building organisational capability while aligning people strategies with business priorities.
Recognizing the critical role of HR in shaping the evolving workforce, Exito Media Concepts, a global B2B events organiser, announces the 5th Edition of HR World Summit South Africa 2026, taking place on 16 September 2026 at Focus Rooms – Universe, Johannesburg. Designed as a platform for industry discussions and networking, the summit will bring together more than 200 CHROs, HR Directors, People & Culture Leaders, Talent Acquisition Heads, Learning & Development Executives, Employee Experience Specialists, business leaders, and solution providers to discuss workforce planning, leadership, talent strategy, and the future of work.
Through keynote presentations, panel discussions, fireside conversations, and interactive sessions, attendees will explore strategies for addressing today’s workforce challenges and preparing organisations for AI adoption, evolving workforce expectations, and future skills requirements. The summit offers HR leaders an opportunity to exchange ideas, build strategic partnerships, and explore current workforce trends.
Shaping the Next Chapter of Work and Leadership
organisations across South Africa are adapting to rapid technological advances, changing workforce expectations, and shifting business priorities. Technologies such as artificial intelligence (AI), automation, and data-driven decision-making are redefining how organisations operate, compete, and manage their workforces.
To remain adaptable, organisations must rethink traditional approaches to leadership, talent management, learning, employee wellbeing, and organisational culture. HR leaders are integrating AI into HR processes, strengthening employee engagement, expanding learning and development initiatives, and building skills needed for an increasingly digital workplace. The summit agenda addresses these priorities through industry discussions, case studies, and real-world examples.
The agenda focuses on the key workforce priorities shaping HR strategy across South African organisations.
Key discussions will include:
- Navigating Work, Leadership, and Innovation in a rapidly changing business landscape
- Exploring the role of Artificial Intelligence in HR and workforce planning
- Strengthening employee wellbeing and workforce engagement
- Building skilled workforces for an evolving world of work
- Developing strategies to attract, retain, and develop talent
- Building a culture of continuous learning and skills development
- Learning from CHROs on people, culture, and change management
- Creating inclusive workplaces that support innovation and organisational performance
These discussions will provide practical insights, case studies, and proven approaches that HR leaders can apply across talent management, leadership development, employee experience, and workforce planning.
A Platform Where HR Leaders Shape the Future
The summit will provide delegates with practical examples of workforce transformation, leadership development, HR technology adoption, and people strategy from organisations across
South Africa.
Alongside the conference sessions, attendees will have opportunities to network with peers, connect with solution providers, and exchange real-world insights on workforce trends and workforce challenges.
Learn from South Africa’s Leading HR Visionaries
The speaker lineup includes HR leaders from organisations including:
- Tebogo Maenetja- Chief Human Resources Officer, MTN
- Michele Seroke- Chief Human Resources Officer, Mediclinic
- Nomsa Lewisa- CIO Group Human Technology, First Rand
- Mikateko Nkuna- Valoyi, Managing Executive: Talent & Culture, Vodacom
- Lerato Thelejane- Executive: People Change Readiness and Enablement, Absa Group
Event Details
Event: 5th Edition of HR World Summit South Africa 2026
Date: 16 September 2026
Time: 9:00 am – 5:00 pm
Venue: Focus Rooms – Universe, Johannesburg, South Africa
About Exito Media Concepts
Exito Media Concepts is a global B2B events organisation with over 16 years of experience delivering conferences across technology, cybersecurity, digital transformation, healthcare, finance, human resources, and other industries.
Exito brings together business leaders, solution providers, and decision-makers through conferences focused on knowledge sharing, collaboration, and executive networking.
For more details on the HR World Summit South Africa 2026, visit:
https://exito-e.com/hrworldsummit/south-africa/
For Media Enquiries, please contact:
Ashrith Shetty | Senior Marketing & PR Executive, Exito Media Concepts Email: ashrith.shetty@exito-e.com
Crypto World
Coinbase-Affiliated Advocacy Group Endorses Candidates for US Midterms
Stand With Crypto, an advocacy organization launched by Coinbase in 2023, endorsed 32 candidates for House of Representatives seats ahead of the 2026 US midterm elections based on their digital asset policy views.
In a Monday notice, Stand With Crypto said its slate of 32 candidates for the 2026 midterm elections was part of efforts to influence digital asset policy in the federal government. The organization said it had endorsed politicians who were “proven digital asset policy champions,” also targeting competitive races “where Stand With Crypto advocate numbers are most likely to influence outcomes.”
“Crypto Voters have become a durable, motivated voting bloc, which has the potential to swing key congressional races in the midterms,” said Stand With Crypto executive director Mason Lynaugh, adding:
“The midterms come at a key inflection point for crypto policy in Washington, D.C. As candidates from both parties are trying to reach voters outside of more traditional constituencies, they overlook Crypto Voters at their own peril.”
The move comes as some experts expect crypto policy to be a potential swing issue for voters in many close elections. Stand With Crypto announced six candidates for its first group of endorsements in March — three Republicans and three Democrats — all of whom advanced from their primaries to compete in the November election.
Related: Ripple- and Coinbase-funded PAC spends $2M in Florida race with little mention of crypto
During the 2024 election cycle, organizations and political action committees (PACs) backed by crypto companies spent more than $170 million supporting candidates they considered to favor the industry, many of whom went on to win their races. Stand With Crypto said that more than 270 “pro-crypto“ candidates were sent to Congress in 2025, potentially influencing votes on legislation like the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act.
CLARITY vote still waiting for Senate’s return
The makeup of the next US Congress in both the House and Senate could potentially impact whether a comprehensive crypto market structure bill becomes law. Although the House passed the Digital Asset Market Clarity (CLARITY) Act with bipartisan support in July 2025, the Senate’s consideration of the legislation has been marked by discussions over ethics, tokenization and stablecoin rewards.
CLARITY is scheduled for a cloture motion once the Senate returns from recess on Sept. 15, but the chamber will only have 14 days in session before breaking before the November election. After the midterms, the Senate will have another 22 days before 2027 to return the bill to the House, after which it could then head to the president’s desk for approval.
Last week, President Donald Trump stood alongside several crypto CEOs and executives, urging the Senate to pass a “fair version” of CLARITY. However, the Trump family’s financial ties to the industry could complicate a potential vote, with a majority of Americans calling the crypto investments not “appropriate” in a recent poll.
Magazine: Bitget CEO isn’t buying the Bitcoin rally — She’s waiting for $50K
Crypto World
CFO Leadership Summit South Africa Announces Its 27th Edition
Intelligent Finance for a Digital-First Economy
17 September 2026 | Johannesburg, South Africa
Johannesburg, 3 July 2026: As organisations across South Africa adopt digital technologies, accelerate digital initiatives, advance digital capabilities, navigate economic uncertainty, and adapt to an increasingly data-driven business environment, the role of the Chief Financial Officer has evolved far beyond traditional financial stewardship. Today’s finance leaders are expected to guide capital allocation, strengthen liquidity management, improve forecasting accuracy through FP&A and predictive analytics, oversee enterprise risk, and lead the adoption of AI and digital finance technologies that support informed business decision-making.
The CFO Leadership Summit South Africa, taking place on 17 September 2026 at Focus Rooms – Universe, Johannesburg, is set to convene South Africa’s prominent finance leaders, CFOs, and industry experts to discuss how CFOs are strengthening financial resilience, improving capital efficiency, modernising finance operations, and preparing organisations for an increasingly data-driven economy. As one of the region’s prominent gatherings of finance executives, the summit will bring together over 200 CFOs, Finance Directors, Group Finance Executives, Controllers, Treasury Leaders, Risk & Compliance Heads, Tax Leaders, Digital Finance Experts, business leaders, and technology innovators to explore the strategies, technologies, and leadership approaches shaping the future of finance.
Designed as a major platform for sharing insights and executive networking, the summit will facilitate discussions among senior finance professionals, industry experts, and solution providers committed to supporting finance transformation. Through keynote presentations, executive panel discussions, fireside conversations, and interactive sessions, attendees will gain practical insights into AI-powered finance, modern FP&A, treasury optimisation, automation, ESG reporting, regulatory compliance, and enterprise risk management.
Redefining Finance Leadership in the Digital Era
South African organisations are navigating economic uncertainty, rising operating costs, evolving regulatory requirements, and rapid advances in AI and automation. As finance teams respond to these challenges, CFOs are increasingly focused on improving forecasting accuracy, optimising liquidity, strengthening governance, and using real-time financial data to support faster business decisions. The summit has been designed to showcase practical case studies, implementation strategies, and lessons from organisations leading finance transformation.
With an agenda focused on emerging finance trends designed for finance and business leaders, the summit will spotlight the key trends transforming modern finance.
Strategic discussions will include
- Architecting Financial Agility in an increasingly volatile and unpredictable economic landscape
- Managing Cash Flow, Controlling Costs, and Optimising Liquidity Through Intelligent, Data-Driven Financial Strategies to Navigate Persistent Inflationary and High-Cost Business Environments
- Advancing Precision Finance through Real-Time FP&A, Predictive Analytics, and Data-Driven Decision-Making
- Redefining the CFO’s Role as a Growth Architect through strategic capital allocation and value creation
- Evolving from a compliance function into a source of competitive advantage
- Integrating ESG and Sustainable Finance to drive long-term profitability, cash flow, and operational efficiency beyond regulatory compliance
These discussions will provide finance leaders with practical approaches to improving forecasting accuracy, strengthening liquidity, modernising finance operations, adopting AI responsibly, and supporting sustainable business growth.
A Platform Where Finance Leaders Drive Business Transformation
The summit will feature a notable line-up of experienced CFOs, senior finance executives, digital transformation leaders, and industry experts representing some of South Africa’s most respected organisations. As a CFO Summit, the event will provide delegates with case studies on finance automation, AI adoption, FP&A modernisation, treasury management, ESG reporting,
regulatory compliance, and enterprise risk management.
Beyond the conference sessions, the event will offer networking opportunities, enabling senior executives to establish professional connections, exchange ideas with peers, explore AI, FP&A, treasury, ERP, analytics, and finance automation solutions.
Learn from South Africa’s prominent Finance Visionaries
- Mikaeel Tayob- Regional CFO, Bridgestone Middle East & Africa
- Polani Sokombela- Chief Financial Officer, Auditor-General of South Africa
- Qiniso Mthembu– Chief Financial Officer, Johannesburg Stock Exchange
- Akesh Bansee- Chief Financial Officer, Unilever
- Bradley Wentzel- Chief Financial Officer, Barloworld Equipment
Event Details
Event: CFO Leadership Summit South Africa 2026
Date: 17 September 2026
Time: 9:00 am – 5:00 pm
Venue: Focus Rooms – Universe, Johannesburg, South Africa
About Exito Media Concepts
Exito stands for “success,” a principle reflected in every experience we create. With over 16 years of expertise, Exito Media Concepts is a globally recognised B2B events organisation delivering more than 240 conferences annually across technology, cybersecurity, digital transformation, healthcare, finance, human resources, and other emerging enterprise sectors.
Through carefully curated agendas, globally recognised speakers, and market-driven insights, Exito creates high-impact platforms that foster strategic collaboration, accelerate innovation, and enable business leaders to address the evolving challenges of their industries.
For more details on the CFO Leadership Summit South Africa 2026, visit:
https://cfoleadershipsummit.com/south-africa/
For Media Enquiries, please contact:
Ashrith Shetty | Senior Marketing & PR Executive, Exito Media Concepts Email: ashrith.shetty@exito-e.com
Crypto World
Tom Lee’s BitMine Buys $81 Million in Ethereum as ETH Hits $2,500
Ethereum price broke above $2,500 this week during a sharp market-wide rally, and BitMine Immersion Technologies used the moment to make its largest weekly purchase since early July.
The Tom Lee-chaired firm added 32,447 ETH, pushing its position closer to a stated “5% Alchemy” target.
BitMine’s Largest Purchase in Weeks
BitMine spent $81 million to buy the new tokens, bringing its total holdings to 5,847,611 ETH, valued at approximately $14.6 billion at current prices.
Including 210 Bitcoin (BTC), stakes in Beast Industries and Eightco Holdings, and $308 million in cash and marketable securities, the company reported a combined treasury of $14.9 billion, up from $11.4 billion the previous week.
The company has purchased ETH every single week since launching its treasury strategy on June 30, 2025, a run of roughly 14 months without interruption.
Its current holdings amount to roughly 4.8% of Ethereum’s total supply, putting the firm about 97% of the way toward the 5% threshold it has pursued publicly since the strategy began.
Roughly 5,067,309 ETH, or 87% of BitMine’s holdings, sits staked through its Made in America Validator Network.
The company projects that the position could generate around $330 million in annualized revenue, though actual returns depend on network conditions and validator performance rather than being guaranteed.
Why Tom Lee Sees This Rally as Different
ETH traded near $2,511 as of August 24, according to BeInCrypto data, after surging roughly 30% over the past week, its strongest gain since May 2025. That climb outpaced Bitcoin’s own advance of roughly 22% over the same period.
Lee framed the past week’s price action as historically significant. This marks the largest weekly gain since May 2025, and in the two prior instances of similar magnitude, such a move signaled the launch point of a much larger rally, one he noted was followed by gains exceeding 160% in earlier cycles.
He pointed to several tailwinds behind the move: Wall Street’s growing tokenization efforts, expanding agentic AI applications built on blockchain infrastructure, supportive policy signals out of Washington, and easing broader financial conditions.
BitMine’s continued buying, even as ETH rallies rather than dips, signals institutional conviction rather than opportunistic bottom-fishing.
As the largest publicly traded Ethereum treasury company, it positions its steady accumulation and staking operations as a structural force behind the network’s growth, regardless of short-term price swings.
Whether this week’s breakout above $2,500 marks the start of the larger move Lee described will likely depend on whether the fundamental catalysts he cited continue building momentum in the weeks ahead.
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The post Tom Lee’s BitMine Buys $81 Million in Ethereum as ETH Hits $2,500 appeared first on BeInCrypto.
Crypto World
Bitcoin Loses $80,000 as Critics Swarm Treasury's $950 Billion Buyback Plan
Bitcoin (BTC) touched $80,000 on Monday, then handed the level straight back. Critics are lining up against the US Treasury plan that sparked the move.
The token traded near $78,835 at press time. The bond market had already run this exact play last week, and it did not hold.
What Pushed Bitcoin to $80,000
The Treasury General Account (TGA) is the government’s checking account at the Federal Reserve. Tax receipts fill it. Treasury Secretary Scott Bessent has let it swell, with reports pegging the account near $950 billion.
Treasury’s own daily cash statement showed $935.1 billion on August 20, the latest official reading. Two senior Treasury officials told CNBC that money could fund bond buybacks.
Treasury doubled those buybacks on August 19. Long-end operations rose from $2 billion to at least $4 billion each. The first lands on September 9, per the department’s own announcement.
Traders liked the plumbing. Spending TGA cash does not grow the Fed’s balance sheet. It just moves money into bank reserves. That reads as liquidity, and liquidity has been Bitcoin’s fuel all month.
The Bond Market Already Round-Tripped This Trade
Treasury’s own yield data tells the story. The 30-year yield hit 5.31% on August 17, its highest reading since 2007.
The buyback news knocked it down to 5.19% two days later. By August 21 it sat at 5.27%. The entire rally vanished in two sessions.
Monday delivered a second bounce. The 30-year eased to 5.21% and the 10-year to 4.69%. Bitcoin’s spot price rode that wave to $80,000, then slid.
Why Critics Say It Will Not Hold
Bessent calls the strategy a “Treasury Twist.” The name echoes Operation Twist, the 1961 attempt to bend long-term rates lower.
Citadel Securities calls it financial repression. The firm warns it could weaken the dollar and stoke inflation. The deficits behind the yield spike go untouched.
Peter Schiff, chief economist at Euro Pacific Asset Management, has long warned about bond markets.
“This reckless plan will substantially shorten the average maturity of the national debt, increasing our exposure to rising short-term rates… It’s a recipe for massive QE and runaway inflation. Got gold?” Schiff wrote.
Benjamin Chabot, a former economist at the Federal Reserve Bank of Chicago, asked the sharper question.
“Does it matter if Treasury uses the TGA to buy bonds? Probably not. TGA funds are mostly spoken for. What matters is how Treasury refills the TGA after purchases,” he stated.
Fundstrat’s Tom Lee took the other side. He says the shift favors long-duration assets, crypto included.
Treasury has not spent a dollar of the account. September 9 is when the talk becomes numbers.
The post Bitcoin Loses $80,000 as Critics Swarm Treasury's $950 Billion Buyback Plan appeared first on BeInCrypto.
Crypto World
CME Group adds ENA reference rates across three regions
CME Group has added three regional U.S. dollar reference rates and real-time indices for Ethena’s ENA token, with daily publication beginning Aug. 24.
Summary
- ENA reference rates now cover the London, New York, and APAC market closes.
- CF Benchmarks calculates the rates using trades from eligible spot exchanges.
- Daily benchmarks remain available on weekends and holidays, matching crypto’s continuous trading schedule.
- The pricing tools may support portfolio valuation, risk controls, and ENA-linked financial products.
CME Group adds ENA rates for three market closes
CME Group said it had added Ethena (ENA) to its single-asset cryptocurrency benchmark suite, extending standardized U.S. dollar pricing to the token across three major trading regions.
CF Benchmarks, the benchmark administrator that manages CME’s cryptocurrency indices, will calculate and publish the new products. The lineup contains daily reference rates that provide a fixed valuation point, along with real-time indices that update during the trading day.
Under the regional format, the CME CF Ethena-Dollar Reference Rate tracks the London close under the ENAUSD RR identifier. ENAUSD NY provides a New York closing rate, while ENAUSD AP covers the end of the APAC trading day.
Each rate is published at 4 p.m. in its respective region. By using three local closing times, the suite lets firms select a valuation point that corresponds with their working day instead of applying one global cutoff to a market that never closes.
Publication continues seven days a week, including weekends and public holidays. ENA trades continuously on cryptocurrency exchanges, so its price can change when traditional stock, bond, and derivatives markets are closed.
Alongside the daily rates, the associated real-time indices provide updated dollar prices throughout the day. Trading desks may use those figures to monitor positions, compare execution prices or measure intraday exposure, while a daily rate gives accountants and fund administrators a fixed figure for reporting.
ENA pricing draws from multiple spot exchanges
Rather than taking ENA’s price from one trading platform, CF Benchmarks draws on transactions from eligible spot exchanges that meet its constituent venue rules. The method reduces the reliance on any single exchange’s order book, liquidity conditions or temporary pricing differences.
Reference rates and real-time indices serve different purposes. A reference rate produces a price at a set time and can support portfolio valuation, net asset value calculations, and contract settlement. A real-time index follows the asset during the day and can assist with trading, collateral monitoring, and risk controls.
A benchmark does not involve the purchase or custody of ENA by itself. It provides a standardized price that banks, asset managers, trading firms, or product issuers can cite when valuing exposure or designing a separate financial instrument.
The distinction also means CME’s announcement is not the same as launching ENA futures, options, or an exchange-traded fund. Any listed product would require its own contract terms, launch process and applicable regulatory treatment; CME’s post announced pricing benchmarks and did not identify a tradable ENA contract.
CF Benchmarks already administers rates used across CME’s cryptocurrency products. In March 2025, Crypto.com became a constituent exchange for several Bitcoin and Ether indices, adding its market data to a group that also included Coinbase, Kraken, Gemini, Bitstamp, itBit, Bullish and LMAX Digital. As previously reported by crypto.news, CME said at the time that data from another eligible venue would add depth and improve pricing accuracy for those benchmarks.
CME crypto benchmarks move beyond Bitcoin and Ether
The ENA addition places the Ethena governance token beside a growing list of crypto assets covered by CME-linked pricing tools. CME’s benchmark and derivatives lineup has expanded beyond Bitcoin and Ether to assets including Solana, XRP, Cardano, Chainlink, Stellar, Avalanche and Sui.
In June, the exchange launched Nasdaq CME Crypto Index futures tied to a basket containing Bitcoin, Bitcoin Cash, Ether, Solana, XRP, Cardano, Chainlink, and Stellar Lumens. The cash-settled index contract gave market participants a way to track several cryptocurrencies through one regulated product without holding the underlying tokens.
CME also introduced standard and micro futures for Avalanche and Sui in May. Both products settle in cash against their respective CME CF reference rates, illustrating how a standardized spot benchmark can later support settlement for a listed derivative when the exchange launches one.
No comparable ENA derivative was included in the Aug. 24 announcement. The immediate addition consists of the three daily regional reference rates and their corresponding real-time indices.
For U.S. firms, the New York variant supplies an ENA price at 4 p.m. local time, aligning the benchmark with the close of the American equity trading day. Fund administrators operating on U.S. schedules can therefore value ENA exposure at a familiar cutoff, even though the underlying token continues trading afterward.
American investors should not treat the benchmark’s inclusion as regulatory approval of ENA or an endorsement of Ethena’s products. CME Group operates major U.S. derivatives markets, but the announcement concerns the availability of pricing data rather than the legal classification of the token or authorization of a new investment product.
Ethena expands its institutional market connections
ENA’s addition follows several steps that have brought Ethena’s ecosystem into institutional trading and asset-management channels. The token governs the protocol behind USDe, a synthetic dollar whose backing model uses crypto assets, derivatives positions and other approved reserve arrangements.
On Aug. 19, Ethena and FalconX launched a $1 billion secured lending facility that uses part of USDe’s backing assets to finance overcollateralized loans for institutional borrowers. Under the institutional lending facility, FalconX originates and services loans through a special-purpose vehicle, while qualified custodians hold collateral worth more than each borrower’s outstanding balance.
Ethena had already incorporated institutional lending into USDe’s backing structure earlier in 2026. Governance records cited in August showed agreements with Anchorage Digital, Maple Institutional, and Coinbase Asset Management had been completed during March and April.
In June, BlackRock integrated USDe into its Aladdin investment platform, which is used by institutions overseeing more than $20 trillion in assets. Ethena also said BlackRock’s BUIDL tokenized fund would serve as a main asset for a white-label product and support liquidity arrangements involving tokenized assets.
Coinbase Ventures separately disclosed an open-market ENA purchase in June as Coinbase and Ethena prepared products focused on on-chain finance and savings. Unlike a discounted private allocation, the venture arm acquired its ENA position through the public market.
More recently, ENA gained about 65% in the week leading up to Aug. 21 and approached $0.1465 following the FalconX agreement. A technical review of ENA found that its four-hour relative strength index had climbed close to 94, an overbought reading that increased the risk of profit-taking even as the token retained its upward momentum.
The same analysis placed resistance at $0.1465, followed by potential levels at $0.1587 and $0.1709, while support stood near $0.1343, $0.1221, and $0.1099. CoinGlass data cited in the report showed leveraged-position clusters around $0.118 to $0.120, with additional liquidity between $0.104 and $0.116.
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