Latest news with #USSecuritiesandExchangeCommission
AU Financial Review
4 days ago
- Business
- AU Financial Review
Rinehart's US bets near $5b, spill into Canadian copper, uranium
Australia's richest person, Gina Rinehart, continues to boost her exposure to US-listed stocks and exchange-traded funds, with her portfolio growing to almost $4.7 billion, as she took new bets on copper and uranium companies. The mining magnate's portfolio grew by about $900 million to $4.7 billion in the three months to the end of June, according to filings with the US Securities and Exchange Commission from Rinehart's private company Hancock Prospecting.
Hans India
5 days ago
- Business
- Hans India
Bitcoin at all-time high of $124,210
Mumbai: Leading cryptocurrency Bitcoin hit a record high of $124,210 on Thursday over increasing expectations for more lenient monetary policy from the US Federal Reserve. The development, coupled with supportive financial reforms, particularly under the pro-crypto stance of the US President Donald Trump's administration, boosted investor sentiment. The world's largest crypto asset by market capitalisation climbed over 0.9 per cent to $124,210, surpassing its previous peak in July. But as of 10.30 am, the BTC has dropped to $1,23,036.80. The second-largest crypto-token Ether also hit $4,780.04, the highest level since late 2021. Markets are increasingly confident that the Federal Reserve will implement interest rate cuts, potentially starting as early as September 2025. This optimism stems from recent data that showed US inflation rose only 2.7 per cent in July YoY, below the expected 2.8 per cent, which strengthens the case for lower interest rates. Sustained institutional buying and moves by the Trump administration to ease investment in crypto assets, add to the tail winds. The passage of stablecoin regulations and the US Securities and Exchange Commission's (SEC) overhaul of regulations to accommodate digital assets have bolstered investor confidence. Analysts said that a sustained break above $125k could propel BTC to $150,000. Bitcoin has risen nearly 32 per cent YTD following Trump's return to the White House, who has branded himself 'crypto president.' An executive order last week paved the way to allow crypto assets in 401(k) retirement accounts, highlighting an increasingly favorable regulatory environment in the United States.
Gulf Insider
5 days ago
- Business
- Gulf Insider
Ethereum Is The ‘Biggest Macro Trade' For Next 10-15 Years: Fundstrat
Market strategy and research firm Fundstrat said Ether will be the 'biggest macro trade' over the next 10 years, as it predicted Ether may rally to as much as $15,000 by the end of 2025. 'ETH is arguably the biggest macro trade for the next 10 to 15 years as AI creates a token economy on the blockchain and as Wall Street financializes on the blockchain,' said Fundstrat Capital chief information officer Thomas Lee on Wednesday. Head of digital asset research for Fundstrat, Sean Farrell, said ETH could go as high as $12,000 to $15,000 by year-end, 'so there is still plenty of upside.' Lee was echoing his comments in a company research bulletin on Wednesday, where he explained that the Wall Street push will be spurred by the GENIUS Act stablecoin regulations and by the US Securities and Exchange Commission's 'Project Crypto,' which aims to modernize the agency for the digital finance age. Lee said the majority of stablecoins and Wall Street projects are being built on Ether. The Ethereum network currently has a commanding 55% market share of the $25 billion real-world asset (RWA) tokenization sector, according to ETH has skyrocketed 60% over the past 30 days, hitting a four-year high of $4,770, just 2.5% away from its 2021 peak, during early trading on Thursday. 'Ethereum is outperforming Bitcoin YTD, gaining +28% vs +18% for Bitcoin,' Lee pointed out. The world's largest Ethereum treasury company, BitMine Immersion Technologies, has targeted a huge $20 billion raise to increase its treasury. Related: Pantera bets $300M on crypto treasury companies, says gains may outpace ETFs The firm has aggressively accumulated 1.2 million ETH since the beginning of July, and its treasury is now worth almost $5.5 billion. Meanwhile, company stock (BMNR) has skyrocketed 1,300% over the same period. In a note seen by Cointelegraph, BTC Markets' crypto analyst, Rachael Lucas, said these positions are strategic and long-term, 'taking substantial liquidity out of the market.' 'When you combine record ETF inflows with corporate and sovereign balance sheet allocations, the result is deep structural demand meeting finite supply,' she said, adding: 'That's a recipe for sustained upward pressure on prices, and a sign that digital assets are firmly embedded in global capital markets.' In July, BitMine suggested the implied value of Ether could be as high as $60,000.
Hans India
6 days ago
- Business
- Hans India
Bitcoin touches record high on hopes of US Fed rate cut
Mumbai: Leading cryptocurrency Bitcoin hit a record high of $124,210 on Thursday over increasing expectations for more lenient monetary policy from the US Federal Reserve. The development, coupled with supportive financial reforms, particularly under the pro-crypto stance of the US President Donald Trump's administration, boosted investor sentiment. The world's largest crypto asset by market capitalisation climbed over 0.9 per cent to $124,210, surpassing its previous peak in July. But as of 10.30 am, the BTC has dropped to $1,23,036.80. The second-largest crypto-token Ether also hit $4,780.04, the highest level since late 2021. Markets are increasingly confident that the Federal Reserve will implement interest rate cuts, potentially starting as early as September 2025. This optimism stems from recent data that showed US inflation rose only 2.7 per cent in July YoY, below the expected 2.8 per cent, which strengthens the case for lower interest rates. Sustained institutional buying and moves by the Trump administration to ease investment in crypto assets, add to the tail winds. The passage of stablecoin regulations and the US Securities and Exchange Commission's (SEC) overhaul of regulations to accommodate digital assets have bolstered investor confidence. Analysts said that a sustained break above $125k could propel BTC to $150,000. Bitcoin has risen nearly 32 per cent YTD following Trump's return to the White House, who has branded himself "crypto president." An executive order last week paved the way to allow crypto assets in 401(k) retirement accounts, highlighting an increasingly favorable regulatory environment in the United States. According to data from CoinMarketCap, the crypto sector's overall market capitalisation has skyrocketed to over $4.18 trillion since Trump's election, up from about $2.5 trillion in November 2024. The rally extended beyond Bitcoin, with several cryptocurrencies such as Solana, XRP, and Dogecoin seeing significant gains, fuelled by speculation of capital rotation from Bitcoin to altcoins.
Business Times
7 days ago
- Business
- Business Times
Circle falls after company, holders offer 10 million shares
[NEW YORK] Shares of Circle Internet Group fell after the second-largest stablecoin issuer and a group of shareholders, including co-founder and chief executive officer Jeremy Allaire announced an offering to sell a combined 10 million shares. Circle is offering two million shares while the selling shareholders are selling eight million, according to a filing on Tuesday (Aug 12) with the US Securities and Exchange Commission. At the closing price on Tuesday of US$163.21 each, the share sale would raise US$1.63 billion. The stock declined 6.1 per cent from the closing price to US$153.34 each as at 8.07 pm in post-market trading on Tuesday in New York. The offering is set to price on Thursday night, according to sources familiar with the matter, who asked not to be identified as the information is not public. A representative for Circle did not immediately respond to a request for comment. Circle went public in a June initial public offering (IPO) that raised US$1.2 billion, and has seen its stock price rise more than 426 per cent to Tuesday's close, after a stablecoin bill was signed into law. The share sale comes within six months of the IPO, a period in which certain early shareholders are typically barred from selling their shares. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Shareholders can be released from the so-called lock-up agreements when the stock is up substantially from the IPO price and there is clear demand for the shares. Circle's insiders had agreed not to sell before a few days after the release of the company's September quarter results, or 180 days after the IPO, whichever came first, according to its earlier filings. Three of Circle's institutional backers before the IPO are the biggest sellers in the offering. IDG Capital is offering 1.17 million shares in the offering, General Catalyst is selling 1.12 million shares, and Fidelity Investments is offering 746,707 shares, the filing shows. Allaire is selling 357,812 shares, and is expected to maintain 23.9 per cent voting power after the offering, the filing shows. The offering is being led by JPMorgan Chase, Citigroup and Goldman Sachs, the filing shows. BLOOMBERG
