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Jack Dorsey’s Block Inc. is set to become the second crypto company to join the S&P 500 following Coinbase, which joined earlier this year. Dorsey’s fintech company provides Bitcoin payment services and also mines BTC as part of its operations. Block Inc. To Join the S&P 500 On July 23 In a press release, the
The post Breaking: Jack Dorsey’s Bitcoin Company Block To Join S&P 500 appeared first on CoinGape.
Amid the rise of altcoin-focused treasury companies, Strategy (formerly MicroStrategy) co-founder Michael Saylor reaffirmed that he remains committed to Bitcoin.
Far from being concerned, Saylor views the growing adoption of altcoins as part of a broader ‘explosion of innovation’ in the digital asset space—one that he believes ultimately strengthens the entire sector, including Bitcoin.
In an interview with Bloomberg, Bitcoin maximalist Saylor stressed that despite growing interest in altcoins, most of the capital is still going into Bitcoin.
“So I’m laser like focused on Bitcoin,” he said.
The Strategy co-founder revealed that the number of companies adding Bitcoin to their treasuries has more than doubled in just six months, jumping from roughly 60 to 160. Furthermore, Saylor labeled Bitcoin as ‘digital capital.’
He forecasted that it would surpass the S&P 500 in performance over the long term
“I think it’s the clear global monetary commodity in the world right now. So it’s the lowest risk, highest return, most straightforward strategy if you want to outperform the S&P and if you want to inject vitality and performance into your balance sheet,” Saylor added.
His latest remarks came after Strategy announced its third-largest Bitcoin purchase. Between July 28 and August 3, the company bought 21,021 BTC for $2.46 billion. The firm, the largest public holder of BTC, has 628,791 BTC worth $74.33 billion.
Strategy’s Bitcoin bet has also proven lucrative. In Q2, the firm reported a net income of $10.02 billion, a shift from the losses posted in the first quarter.
While Saylor’s conviction in Bitcoin remains unshaken, Ethereum is becoming the next preferred choice for many institutional players. Moreover, their conviction is not without reason.
Industry leaders point to its adaptability, evolving ecosystem, and diverse applications—from tokenization to enterprise solutions—as factors driving long-term confidence. In fact, Standard Chartered’s Geoff Kendrick argued that Ethereum-focused treasury companies “make more sense” than their Bitcoin counterparts. The reason, he explained, is
“Due to staking yield, DeFi leverage. And from a regulatory arbitrage perspective, they make more sense than their BTC equivalents, too.
In addition, Shawn Young, Chief Analyst at MEXC Research, recently told BeInCrypto that the industry has moved beyond the era of Bitcoin-only corporate treasuries.
“Companies are increasingly diversifying across ETH, SOL, BNB, and TON, treating them as strategic assets aligned with the evolving structure of digital finance. This marks a significant departure from the traditional institutional finance playbook. Firms are beginning to align their treasury portfolios with the operational logic of crypto-native ecosystems, prioritizing liquidity, programmability, and exposure to on-chain growth sectors, Young mentioned.
He explained that firms publicly disclosing their digital asset holdings are setting a new benchmark. According to Young, companies integrating cryptocurrencies into their treasuries today could help shape the new corporate standard in the coming years.
The post MicroStrategy’s Saylor Says Altcoin Corporate Treasuries Will Help Bitcoin appeared first on BeInCrypto.
NVIDIA (NVDA) has allocated $500 billion for US AI investment, but Jim Cramer cites it as the meme stock. Surprisingly, the NVIDIA stock price failed to react to this bullish news, showcasing investors’ declining interest in the asset. Although the Trump tariff fear is persistent, experts fear Cramer’s take might be true for this AI company.
NVIDIA has announced a $500 billion investment in the US AI sector over the next four years. The GPU manufacturing company aims to strengthen the country’s AI infrastructure and reduce reliance on international supply chains.
Interestingly, this decision comes following Donald Trump’s tariff introduction on US imports. Although this is bullish news as it will create thousands of jobs in America, the investors remained less optimistic.
The NVIDIA stock price rose barely 3% with the $500 billion investment news before losing momentum. It currently trades at $110.71 and has crashed significantly with Trump’s tariff affecting the stock market.
Considering the NVDA’s performance struggle, Jim Cramer has called it a meme stock. In the recent CNBC post, Cramer revealed his top stock picks to buy but also targeted Apple, NVIDIA, and a few other companies for poor share performance.
The post mentioned that Cramer believes NVDA had become a meme before saying that he didn’t own meme stock. Again, he commented on NVIDIA’s failure to rise with the $500 billion announcement, adding that it should have broken out, but it did not as the meme crowd controls it.
Yesterday the “Chinese” stocks did quite well. They aren’t supposed to be. Yesterday Nvidia should have broken out, but it is being so seriously controlled by the meme crowd that it couldn’t rally.
NVIDIA stock had a slower start and struggled with its price performance for years before the AI industry began to boom. After that, the stock grew higher and higher, setting its prime at $149.43 at the beginning of the year.
Considering the broader picture, NVDA’s meme stock stage seems momentary, as it is struggling just like the rest of the crypto stock prices. More importantly, it has the potential to rise amid the growing demand for the artificial intelligence system.
Notably, Trump’s tariff could influence its performance negatively. Additionally, few analysts believe that the NVIDIA price crash is imminent, but the long-term bullish outlook remains persistent.
Beasides, if Jim Cramer’s Cramer index is considered, this could be a buying opportunity, where the stocks he derogate performance wells.
The post Is Jim Cramer Right About NVIDIA as Stock Price Fails to React to $500B Investment Plan? appeared first on CoinGape.
The post Coinbase CLO Slams U.S. Treasury for Avoiding Final Ruling in Tornado Cash Case appeared first on Coinpedia Fintech News
On Friday, the U.S. Treasury lifted sanctions on crypto mixer Tornado Cash, a crypto firm accused of helping launder over $7 billion for cyber criminals, including North Korean hackers. In 2022, the Treasury blacklisted Tornado Cash for its role in laundering $455 million stolen by the Lazarus hacking group.
But the move has sparked strong backlash. In a latest X post, Coinbase’s Chief Legal Officer, Paul Grewal, has publicly criticized the U.S. Treasury for its handling of Tornado Cash’s delisting. He argues that the Treasury is wrongly trying to avoid a final court decision.
Grewal is criticizing the U.S. Treasury for continuing legal actions against Tornado Cash, even after it was removed from the Specially Designated Nationals (SDN) list. The Treasury now claims that a final court decision is unnecessary, but Grewal argues that this is against legal procedures.
He shared that this is only valid if the defendant can prove the issue won’t happen again. He also mentioned past cases where sanctions were lifted but the case stayed open, allowing them to be reimposed later.
“Here, Treasury has likewise removed the Tornado Cash entities from the SDN, but has provided no assurance that it will not re-list Tornado Cash again. That’s not good enough, and will make this clear to the district court,” noted Grewal.
Grewal’s criticism comes during a long legal battle where Tornado Cash users challenged the Treasury’s decision to add the mixer to the SDN list. The users argued that the smart contract didn’t qualify as property under the International Emergency Economic Powers Act (IEEPA) because it’s non-erasable.
Although the court sided with the users, clarifying the status of the Tornado’s smart contract, despite this, Grewal criticized the Treasury for not fully following the court’s ruling.
Tornado Cash has been supported by groups like Coinbase and the Ethereum Foundation, which are backing lead developer Alexey Pertsev’s defense. The legal battle has been intense, with supporters claiming the Treasury’s actions were unfair and lacked clear legal grounds.
Lifting the sanctions against Tornado Cash is an important step in the ongoing debate over how crypto mixers should be regulated. The Treasury lifted them after reviewing legal issues but still expressed concern over North Korea’s use of digital assets for hacking and money laundering.
The post Coinbase CLO Slams U.S. Treasury for Avoiding Final Ruling in Tornado Cash Case appeared first on Coinpedia Fintech News
On Friday, the U.S. Treasury lifted sanctions on crypto mixer Tornado Cash, a crypto firm accused of helping launder over $7 billion for cyber criminals, including North Korean hackers. In 2022, the Treasury blacklisted Tornado Cash for its role in laundering $455 million stolen by the Lazarus hacking group. The Move Sparks Criticism From Grewal …