Core Viewpoint - Bitmine Immersion Technologies has experienced a significant decline in stock value, dropping around 20% this week, primarily due to a crash in Ethereum's price, which has fallen 36% in the last month, leading to substantial unrealized losses on its crypto investments [1][3]. Group 1: Company Overview - Bitmine Immersion Technologies is focused on creating a cryptocurrency treasury operation centered on Ethereum, contrasting with other strategies that focus on Bitcoin [2]. - The company has invested over $16.3 billion in Ethereum, acquiring more than 3% of the outstanding token supply at an average price of around $3,800 per Ether [3]. Group 2: Investment Strategy - Despite the downturn in Ethereum's price, Bitmine continues to purchase more Ether for its portfolio, indicating a long-term investment strategy [2]. - The stock's performance is closely tied to the value of Ethereum, meaning that fluctuations in the cryptocurrency's price will directly impact Bitmine's stock value [3]. Group 3: Management and Future Outlook - Recent management changes, including the retirement of the company's President, have raised concerns about decision-making and the future direction of Bitmine [4]. - The company's investment of $200 million in Beast Industries adds another layer of uncertainty regarding its strategic focus and potential risks [4]. Group 4: Market Sentiment - The volatility of cryptocurrency prices and the unpredictability of future earnings power contribute to a cautious sentiment among investors regarding Bitmine's stock [8]. - Analysts suggest that potential investors should be wary of buying into Bitmine Immersion Technologies at this time due to the high risks associated with its current management and market conditions [8].

Core Viewpoint - 21shares, a leading issuer of cryptocurrency exchange traded products (ETPs), announced the expected distribution dates for staking rewards for its Ethereum ETF (TETH) and Solana ETF (TSOL) in 2026 [1] Distribution Dates - The distribution dates for TETH and TSOL are as follows: - TETH: - Declaration Date: 3/27/26, Ex Date: 3/30/26, Record Date: 3/30/26, Payable Date: 3/31/26 - Declaration Date: 6/26/26, Ex Date: 6/29/26, Record Date: 6/29/26, Payable Date: 6/30/26 - Declaration Date: 9/28/26, Ex Date: 9/29/26, Record Date: 9/29/26, Payable Date: 9/30/26 - Declaration Date: 12/28/26, Ex Date: 12/29/26, Record Date: 12/29/26, Payable Date: 12/30/26 [2] - TSOL: - Declaration Date: 2/12/26, Ex Date: 2/13/26, Record Date: 2/13/26, Payable Date: 2/17/26 - Declaration Date: 3/27/26, Ex Date: 3/30/26, Record Date: 3/30/26, Payable Date: 3/31/26 - Declaration Date: 6/26/26, Ex Date: 6/29/26, Record Date: 6/29/26, Payable Date: 6/30/26 - Declaration Date: 9/28/26, Ex Date: 9/29/26, Record Date: 9/29/26, Payable Date: 9/30/26 - Declaration Date: 12/28/26, Ex Date: 12/29/26, Record Date: 12/29/26, Payable Date: 12/30/26 [4] Company Overview - 21shares is recognized as one of the largest providers of cryptocurrency ETPs, aiming to make cryptocurrency more accessible to investors and bridging traditional finance with decentralized finance [5] - The company launched the world's first physically-backed crypto ETP in 2018 and has built a seven-year track record in creating crypto ETPs listed on major securities exchanges [5] - 21shares operates independently as a subsidiary of FalconX, leveraging its resources to enhance growth [6]

Photographer: Ronda Churchill/Bloomberg Bitcoin’s plunge below $65,000 is intensifying the crisis rocking the digital-asset complex — and few companies are more exposed than Michael Saylor’s Strategy Inc. In an earnings announcement Thursday, the Bitcoin-hoarding company confirmed a net loss of $12.4 billion for the fourth quarter, driven by the mark-to-market decline in its vast holdings. That pain deepened this week, as fresh market turmoil pushed the firm’s Bitcoin stash below its cumulative cost basi ...

Key Takeaways Cathie Wood’s ARK Invest added more than $44 million in crypto-linked equities, including BitMine, Robinhood, and Circle. BitMine chairman Tom Lee defended the firm’s Ethereum treasury model despite billions of losses. Analysts say Ethereum’s price lacks momentum. Cathie Wood’s ARK Invest increased its exposure to crypto-linked equities this week, buying shares of BitMine and other digital-asset firms, despite Ethereum’s sharp price drop and mounting sector-wide losses. The purchase ...

Group 1 - Bitcoin has reportedly caused US spot ETF holders to incur $7 billion in paper losses after its price fell below $80,000, with a brief trade near $74,600 before recovering to around $77,000 [1] - The average ETF buyer entered the market near $90,000, leading to approximately 15% losses for many holders, which creates a feedback loop that pressures Bitcoin prices as investors sell to break even [3] - US spot ETFs currently hold about 1.29 million Bitcoin, representing roughly 6.5% of the total supply, and this significant holding can lead to increased volatility during market downturns [4] Group 2 - Analysts warn that Bitcoin could decline towards $65,000 if ETF redemptions continue to rise and new demand remains low [2] - Unlike ETF investors, who may not hold through market volatility, companies like Strategy (formerly MicroStrategy) hold Bitcoin on their balance sheets and have a billion-dollar cushion to absorb price swings, providing them with more flexibility [6] - The recent drop in Bitcoin prices resulted in over $800 million in leveraged trades disappearing quickly, indicating a rapid loss of liquidity in the market [4]

Core Insights - Jeffrey Epstein made a $3 million investment in Coinbase in December 2014, arranged by Tether co-founder Brock Pierce and Blockchain Capital at a $400 million valuation. Coinbase is now valued at approximately $51 billion [2][3] - Coinbase co-founder Fred Ehrsam was aware of Epstein's involvement, as indicated by an email where he expressed interest in meeting Epstein [2][3] - Epstein cashed out half of his stake in Coinbase in 2018 for nearly $15 million, retaining the other half until his death in 2019 [4] Industry Context - The revelation of Epstein's investment raises questions about the early funding sources and the individuals behind significant investments in the cryptocurrency industry [5][7] - The investment occurred during a time when the cryptocurrency sector was less regulated, and due diligence practices were still developing [7]

Core Insights - Early investors in cryptocurrencies like Bitcoin, Ethereum, and XRP have seen significant returns, with Bitcoin increasing by over 1 million percent in the last decade and Ethereum projected to reach $10,000 by 2030 [1] - Institutional interest in cryptocurrencies is growing, with billions being drawn from Wall Street into crypto products, and notable developments occurring in the EU despite regulatory challenges [2] - ING Germany has launched crypto ETP trading for retail investors, allowing direct exposure to Bitcoin, Ethereum, and Solana, coinciding with a period of low crypto sentiment [3][4] Industry Developments - The introduction of crypto ETPs by ING Germany, in partnership with VanEck, reflects a trend where more European crypto firms are offering regulated access to digital assets, treating them similarly to stocks or bonds [4] - A crypto ETP is a security that tracks the price of a cryptocurrency without requiring direct ownership, with banks managing custody and reporting, thus simplifying the investment process for retail investors [5] - The ETPs are available for trading through existing securities accounts, but traders must complete a suitability check before trading, and the underlying assets cannot be withdrawn to third-party wallets [6] Market Impact - The launch of the crypto ETP is seen as a gamechanger for retail investors in Europe, addressing concerns about custody risk that arose after the collapse of exchanges like FTX during the last bear market [7]

Core Insights - A significant decline in bitcoin prices is impacting major buyers, particularly Strategy, which is the largest publicly traded holder of bitcoin [2][3] Company Overview - Strategy has not sold any of its bitcoin since its first purchase in August 2020, accumulating a total of 713,502 coins at an average price of approximately $76,000 per coin [4][7] - The company's shares have dropped over 2%, reaching levels not seen since 2024, indicating market concerns about its bitcoin investments [2] Market Context - The price of bitcoin has recently fallen to around $78,000, raising concerns about the sustainability of Strategy's purchases, as further declines could lead to losses [2][5] - Other crypto-linked stocks, including Coinbase, Circle, Gemini, and BitMine, have also experienced declines of 3% or more, reflecting broader market challenges [2] Investor Sentiment - The treatment of Strategy in the current market serves as a barometer for crypto sentiment, with analysts expressing concerns about the company's future as bitcoin prices fluctuate [3][7] - Experts suggest that bitcoin may have reached a "value zone" that could attract investors, but there are predictions of potential further declines to as low as $40,000 [5]

Jeffrey Epstein made a multimillion-dollar investment into crypto exchange Coinbase in 2014, and the company’s leadership appears to have been aware of the convicted sex offender’s involvement in the deal, newly surfaced emails indicate. Epstein made a $3 million investment in the crypto exchange in December 2014, according to a new trove of emails released Friday by the U.S. Justice Department. The investment opportunity was initially presented to Epstein by Tether co-founder Brock Pierce and Pierce’s vent ...

Michael Saylor, the outspoken Bitcoin (BTCUSD) advocate and executive chairman of Strategy (MSTR) (formerly known as MicroStrategy), kicked off his aggressive accumulation strategy in 2020 when BTC hovered around $11,000. Undeterred by volatility, he ramped up purchases through bull and bear markets, amassing holdings even as the cryptocurrency was soaring to a peak above $126,000 last October. Today, Strategy owns 712,647 Bitcoin with an average purchase price of $76,037. But overnight, Bitcoin plunged ...