Latest news with #CoinGecko
Sydney Morning Herald
2 days ago
- Business
- Sydney Morning Herald
Trump's big bet on his $8 billion family fortune
President Donald Trump has made no secret of his love for the crypto industry in his second term, appointing friendly regulators, establishing a US digital asset stockpile, ending prosecutions and pardoning its criminals. Those moves are set to hit even closer to home as the industry increasingly drives the fate of his family's personal fortune. His sons Eric Trump and Donald Trump Jr. have hopscotched from one crypto conference to the next — Abu Dhabi in December, Washington in March, Dubai in May — rousing fans and drawing criticism about conflicts of interest along the way. They're getting top billing at a conference in Las Vegas this week, alongside Vice President JD Vance. A spokesperson for the Trump Organisation did not immediately reply to a request for comment. Their appearances come just as the most valuable asset underpinning the president's $US5.2 billion ($8.1 billion) personal fortune is set to become increasingly tied to the price of bitcoin. Loading Trump Media and Technology Group, the family's money-losing social media business, announced Tuesday it was raising $US2.5 billion to buy bitcoin — what chief executive officer Devin Nunes called an 'apex instrument of financial freedom.' The company's balance sheet of cash, cash equivalents and investments were worth $US759 million at the end of the first quarter, according to a filing on Tuesday. It's among the highest-profile examples of what's become a familiar strategy: There are more than 30 public US companies that purchase bitcoin as part of their corporate treasury, according to CoinGecko. Bernstein analysts project bitcoin could see $US330 billion in inflows via corporate treasuries before 2030. The token climbed above $US111,000 last week for the first time ever and has gained roughly 55 per cent since Trump's election win in November. Trump Media, by comparison, is down about 34 per cent over the same period. Bitcoin buyers
Sydney Morning Herald
2 days ago
- Business
- Sydney Morning Herald
The Trump $8 billion family fortune is being tied to bitcoin
President Donald Trump has made no secret of his love for the crypto industry in his second term, appointing friendly regulators, establishing a US digital asset stockpile, ending prosecutions and pardoning its criminals. Those moves are set to hit even closer to home as the industry increasingly drives the fate of his family's personal fortune. His sons Eric Trump and Donald Trump Jr. have hopscotched from one crypto conference to the next — Abu Dhabi in December, Washington in March, Dubai in May — rousing fans and drawing criticism about conflicts of interest along the way. They're getting top billing at a conference in Las Vegas this week, alongside Vice President JD Vance. A spokesperson for the Trump Organisation did not immediately reply to a request for comment. Their appearances come just as the most valuable asset underpinning the president's $US5.2 billion ($8.1 billion) personal fortune is set to become increasingly tied to the price of bitcoin. Loading Trump Media and Technology Group, the family's money-losing social media business, announced Tuesday it was raising $US2.5 billion to buy bitcoin — what chief executive officer Devin Nunes called an 'apex instrument of financial freedom.' The company's balance sheet of cash, cash equivalents and investments were worth $US759 million at the end of the first quarter, according to a filing on Tuesday. It's among the highest-profile examples of what's become a familiar strategy: There are more than 30 public US companies that purchase bitcoin as part of their corporate treasury, according to CoinGecko. Bernstein analysts project bitcoin could see $US330 billion in inflows via corporate treasuries before 2030. The token climbed above $US111,000 last week for the first time ever and has gained roughly 55 per cent since Trump's election win in November. Trump Media, by comparison, is down about 34 per cent over the same period. Bitcoin buyers
The Age
2 days ago
- Business
- The Age
The Trump $8 billion family fortune is being tied to bitcoin
President Donald Trump has made no secret of his love for the crypto industry in his second term, appointing friendly regulators, establishing a US digital asset stockpile, ending prosecutions and pardoning its criminals. Those moves are set to hit even closer to home as the industry increasingly drives the fate of his family's personal fortune. His sons Eric Trump and Donald Trump Jr. have hopscotched from one crypto conference to the next — Abu Dhabi in December, Washington in March, Dubai in May — rousing fans and drawing criticism about conflicts of interest along the way. They're getting top billing at a conference in Las Vegas this week, alongside Vice President JD Vance. A spokesperson for the Trump Organisation did not immediately reply to a request for comment. Their appearances come just as the most valuable asset underpinning the president's $US5.2 billion ($8.1 billion) personal fortune is set to become increasingly tied to the price of bitcoin. Loading Trump Media and Technology Group, the family's money-losing social media business, announced Tuesday it was raising $US2.5 billion to buy bitcoin — what chief executive officer Devin Nunes called an 'apex instrument of financial freedom.' The company's balance sheet of cash, cash equivalents and investments were worth $US759 million at the end of the first quarter, according to a filing on Tuesday. It's among the highest-profile examples of what's become a familiar strategy: There are more than 30 public US companies that purchase bitcoin as part of their corporate treasury, according to CoinGecko. Bernstein analysts project bitcoin could see $US330 billion in inflows via corporate treasuries before 2030. The token climbed above $US111,000 last week for the first time ever and has gained roughly 55 per cent since Trump's election win in November. Trump Media, by comparison, is down about 34 per cent over the same period. Bitcoin buyers
Yahoo
4 days ago
- Business
- Yahoo
Stablecoin firm Circle targets $6.71B valuation in New York IPO
-- Circle Internet, the New York-based stablecoin giant, announced on Tuesday that it aims to achieve a fully-diluted valuation of up to $6.71 billion in its initial public offering (IPO) in New York. This move comes amidst a growing interest in cryptocurrency. The company and some of its current investors plan to raise up to $624 million through the sale of 24 million shares, with a price range of $24 to $26 per share. ARK Investment Management, led by Cathie Wood, has expressed its intention to purchase up to $150 million worth of Circle's shares in the IPO. In this offering, Circle will put up 9.6 million shares, while the remaining 14.4 million shares will be sold by existing shareholders. These include venture capital firms Accel and General Catalyst, who have decided to sell their shares. Circle, established in 2013, is the primary operator of the stablecoin USDC. According to CoinGecko, a crypto market tracking platform, USDC has a market capitalization exceeding $60 billion. Related articles Stablecoin firm Circle targets $6.71B valuation in New York IPO Nexo announces U.S. return at event with Donald Trump Jr Are altcoins stuck in crypto winter for longer?
Yahoo
5 days ago
- Business
- Yahoo
Bitwise CEO Says, 'CoinMarketCap Leaderboard Era Of Crypto Is Close To Its End,' Backs Thesis-Based Investing
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Bitwise CEO Hunter Horsley has suggested that the era of investing in cryptocurrencies primarily based on market capitalization is ending. Horsley is betting on a new age that bears similarities to investing in companies on Wall Street. Bitwise CIO Matt Hougan has recently urged cryptocurrency investors to look beyond Bitcoin. For most people looking to dip their toes in the cryptocurrency market for the first time, the instinctive thing to do for years has been to scan the list of top coins on aggregation platforms like CoinMarketCap and CoinGecko and pick an asset that seems to align with them. But this approach to cryptocurrency investing may soon be at an end as the market matures, according to Bitwise CEO Hunter Horsley. 'I think the CoinMarketCap leaderboard era of crypto is close to its end,' Horsley said on Wednesday. He drew parallels to Wall Street, noting that investors did not pick companies by comparing market capitalizations. Don't Miss: — no wallets, just price speculation and free paper trading to practice different strategies. Grow your IRA or 401(k) with Crypto – . 'Is it interesting to invest in Walmart? Adobe? Mastercard? Johnson & Johnson?' He quizzed rhetorically. 'You don't answer that question by looking to see how their ranking in the S&P and market caps compare. You don't invest in Exxon because its market cap is cheaper than Eli Lilly & Co.' Horsley said that instead, investors made picks by building a thesis around the business, considering its place in the market and prospects. 'I think that's what's coming in crypto,' he said. 'These things are not all the same.' Indeed, the idea of narrative-driven investing has been gaining momentum in recent years as new sectors emerge in the market, such as tokenization, games, middleware services, and even AI projects. Trending: New to crypto? on Coinbase. Last week, Bitwise investment chief Matt Hougan advocated for cryptocurrency investors to look beyond Bitcoin and diversify their portfolio across several verticals. He compared the cryptocurrency landscape to the internet in 2004. Hougan noted that many would have been tempted to invest in only Google at the time due to the dominance of search, but added that while that would have paid off, it wouldn't have been the best strategy in hindsight. 'Google did exceptionally well. Today it's one of the most valuable assets in the world. But other categories did well, too- in fact, the best performer turned out to be Netflix. That wasn't obvious in 2004,' he said. Hougan said that, like the internet, blockchain is a general-use technology. He added that, as such, it is hard to predict which vertical will outperform in the next decade. 'History suggests you'd want to own a basket of crypto assets,' he said. 'Don't fret about picking winners; invest in the big picture.' Still, it is hard to blame most new investors for getting overwhelmed, as there are thousands of projects to choose from, and risks tend to increase the smaller the project. Underscoring these risks, CoinGecko reported in April that over 50% of cryptocurrencies have failed. Read Next: A must-have for all crypto enthusiasts: . 'Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. Image: Shutterstock Send To MSN: 0 This article Bitwise CEO Says, 'CoinMarketCap Leaderboard Era Of Crypto Is Close To Its End,' Backs Thesis-Based Investing originally appeared on
