
The crypto industry saw Trump as a champion. Some now fear he's putting personal profits first
WASHINGTON — It seems like a triumph for a cryptocurrency industry that has long sought mainstream acceptance: Top investors in one of President Donald Trump 's crypto projects invited to dine with him at his luxury golf club in Northern Virginia on the heels of the Senate advancing key pro-crypto legislation and while bitcoin prices soar .
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Anthony Pompliano eyes a $750M Bitcoin SPAC merger
Anthony Pompliano eyes a $750M Bitcoin SPAC merger originally appeared on TheStreet. Crypto entrepreneur and podcast host Anthony Pompliano is reportedly in talks to launch a new Bitcoin fund that, if launched, would provide indirect access to Bitcoin to more institutional investors. The vehicle, which will be called ProCapBTC, will be headed up by Pompliano himself in the role of CEO. However, his position at the leadership of the vehicle is currently under debate, according to the Financial Times. ProCapBTC, on the other hand, intends to complete a combination with Columbus Circle Capital 1, a blank-check company that went public with support from the investment bank Cohen & Company. The proposed raise would be $500 million in equity and $250 million in convertible debt, with an announcement potentially coming next week. Columbus Circle Capital 1 is a newly incorporated blank check company formed to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with a high-growth technology, industrial, or consumer company. It pulled in $250 million in its May 2025 IPO underwritten by Cohen & Company Capital Markets (CCM), a unit of JVB Financial Group. NYSE-listed Cohen & Company is increasingly involved in the cryptocurrency sector, providing tax, audit, and advisory services related to digital assets, DeFi, NFTs, and cryptocurrency exchanges. Pompliano is a vocal Bitcoin proponent who already leads a fintech-focused special purpose acquisition company (SPAC), ProCap Acquisition, which went public on the Nasdaq in April. That entity raised $250 million in its initial public offering (IPO) and trades under the ticker symbol PCAPU. Shares of PCAPU advanced in June, opening at $10.60 on June 1 and rising to $11.40 by the beginning of this week, but settled at $11.42 on June 13. Anthony Pompliano eyes a $750M Bitcoin SPAC merger first appeared on TheStreet on Jun 13, 2025 This story was originally reported by TheStreet on Jun 13, 2025, where it first appeared. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
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Why Shares of D-Wave Quantum Are Sinking This Week
D-Wave Quantum announced an at-the-market offering to potentially raise hundreds of millions of new capital. The offering could be dilutive to shareholders. Nvidia's CEO Jensen Huang commented on quantum computing this week. 10 stocks we like better than D-Wave Quantum › Since last Friday, shares of D-Wave Quantum (NYSE: QBTS) fell nearly 15% as of the market close on Thursday. The stock also traded lower on Friday. While the quantum computing sector experienced some good news this week, D-Wave also announced an at-the-market (ATM) stock offering to potentially raise new capital. D-Wave's ATM offering is with several brokerages and investment banks and will allow the company from time to time to conduct the "issuance and sale" of common stock for up to $400 million. The word issuance indicates that new shares could be offered to raise capital, which would be dilutive to existing shareholders. In a filing with the Securities and Exchange Commission( SEC), D-Wave also said that cash balances on hand as of March 31 are enough "to fund the company to profitability." D-Wave plans to use any potential proceeds for general corporate purposes, including funding capital expenditures (capex), acquiring new companies, or expanding the business, as well as for general working capital purposes. The news is disappointing because it comes during a week when Nvidia's CEO Jensen Huang praised quantum computing. "We are within reach of being able to apply quantum computing in areas that can solve some interesting problems in the coming years," he said. Few CEOs can move the market, but Huang is one of them, being one of the most influential people in the artificial intelligence (AI) sector. Other quantum computing stocks jumped this week. Shareholders never like to see dilutive capital raises, but with D-Wave trading at an extremely high valuation, this is often when management will try and bring in additional capital to fund growth. Either way, it's been an incredible run. D-Wave's stock is up 1,268% over the last year and currently trades at 191 times forward sales. While D-Wave appears to be making real progress toward eventually mass producing quantum computers, it's very difficult to buy stocks at these kinds of meteoric valuations. I wouldn't recommend anything more than a small, speculative position at this time. Before you buy stock in D-Wave Quantum, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and D-Wave Quantum wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $655,255!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $888,780!* Now, it's worth noting Stock Advisor's total average return is 999% — a market-crushing outperformance compared to 174% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 9, 2025 Bram Berkowitz has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Nvidia. The Motley Fool has a disclosure policy. Why Shares of D-Wave Quantum Are Sinking This Week was originally published by The Motley Fool
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MicroStrategy director cashes out $10M
MicroStrategy director cashes out $10M originally appeared on TheStreet. Strategy (Nasdaq: MSTR), earlier known as MicroStrategy, director Carl Rickertsen has cashed out all his MSTR shares for more than $10 million this month. Helmed by co-founder and executive chairman Michael Saylor, Strategy is the world's largest public corporate holder of Bitcoin. As of now, the company holds 582,000 BTC worth a whopping $61.25 billion. As per Strategy, Rickertsen has been its board member since October 2002. Protos reported about the recent transactions made by Rickertsen in a news story on June 12. As per Protos, Rickertsen bought $700,000 in MSTR shares in 2022 and sold half of it in 2023. Now, he has let go of all of his MSTR holdings. On June 2, Rickertsen acquired 26,390 shares and then sold the same day for $9,827,636. On 3 June, he sold 980 shares for $371,488.60 that he had acquired on May 13. Notably, Strategy began acquiring Bitcoin in 2020 amidst the coronavirus pandemic, and the MSTR stock has since grown more than 3,100% in value since then. The recent Iran-Israel conflict led to the stock dipping as the market opened on June 13, but it managed to recover later. At press time, MSTR was trading at $379.82. Meanwhile, Bitcoin has grown more than 1,100% in value since 2020. As per Kraken, Bitcoin was trading at $105,245.08 at press time, down 2.81% a day. TheStreet Roundtable reached out to MicroStrategy for a comment on the matter and has not received a response so far. We will update the story if and when the company responds. MicroStrategy director cashes out $10M first appeared on TheStreet on Jun 13, 2025 This story was originally reported by TheStreet on Jun 13, 2025, where it first appeared. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data