Tom Lee Ethereum QT. Photo by BeInCrypto Welcome to the US Crypto News Morning Briefing—your essential rundown of the most important developments in crypto for the day ahead. Grab a coffee and settle in, because the latest crypto pullback may not be what it seems, at least according to BitMine chair Tom Lee. Beneath the headlines and market jitters, a far more unexpected force may be driving Ethereum’s slump, one that has little to do with the Fed, and everything to do with crypto’s own plumbing. Crypto ...

Core Insights - BitMine now holds over 2.5% of the total ETH token supply, aiming for a target of 5% [1][2] - The company's total crypto, cash, and "moonshot" holdings amount to $12.9 billion, including 3.03 million ETH tokens and $104 million in unencumbered cash [1][2] - BitMine is recognized as the largest ETH treasury globally and the second-largest crypto treasury overall, following Strategy Inc [2] Financial Performance - BitMine's average daily trading volume is $3.5 billion, making it the 22nd most traded stock in the US [1][4] - The company has recently acquired 202,037 ETH tokens, increasing its holdings to over 3 million ETH [2][4] - BitMine's trading volume share, along with MSTR, constitutes 88% of all global DAT trading volume [5] Institutional Support - BitMine is backed by prominent institutional investors, including ARK's Cathie Wood, Founders Fund, and Pantera [1][2] - The company continues to attract institutional capital due to its high liquidity and trading volume [5] Strategic Vision - The Chairman's Message emphasizes the potential of Ethereum in a Supercycle driven by AI and Wall Street's entry into blockchain [4] - The GENIUS Act and SEC's Project Crypto are viewed as transformative for financial services, akin to the end of the Bretton Woods system in 1971 [2]