The Daily: Trump-backed American Bitcoin raises $220M for Bitcoin and mining gear, Bitwise sticks to $200K BTC 2025 price prediction, and more
Powered by ChatGPTHappy Tuesday! Despite sitting just 5% below all-time highs, Bitcoin enters Q3 stuck in a rut, analysts say, warning that after June's leverage flush and fading spot demand, only a fresh macro catalyst may break the deadlock in what's historically its weakest quarter.
In today's newsletter, American Bitcoin raises $220 million, Bitwise reiterates its $200,000 Bitcoin price forecast for 2025, Global Dollar Network expands to the EU, and more.
Meanwhile, we take a look at 20 key crypto hires, moves, and exits in June.
Let's get started.
American Bitcoin, the recently launched Bitcoin mining firm backed by Eric Trump and Donald Trump Jr., has raised $220 million by selling over 11 million new shares in a private placement.
Crypto asset manager Bitwise is sticking to its $200,000 $BTC price prediction for 2025, citing strong ETF flows, Bitcoin treasury company accumulation, and the creation of a U.S. Strategic Bitcoin Reserve.
Paxos has introduced the multi-chain Global Dollar (USDG) stablecoin in the EU under MiCA through its regulated Finnish entity, offering 1:1 dollar redemptions and trading on several centralized crypto exchange platforms like Kraken.
Stablecoin issuer Circle has applied for a U.S. national banking license that would let it custody USDC reserves and hold crypto for institutions, Reuters reported.
U.S. spot Bitcoin ETFs have notched 15 straight days of inflows totaling $4.7 billion, with BlackRock's IBIT accounting for over 80% of the value.
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[The Block]