Trump-backed American Bitcoin Corp stock plunges almost 40% as private placement shares unlock

Bitcoin ETF trading volume has reached $5.6 billion, reflecting a significant increase in institutional interest and participation in the cryptocurrency market. This surge indicates a growing acceptance of Bitcoin as a legitimate investment vehicle among institutional investors.

The Bitcoin-to-silver ratio has reached its lowest point since October 2023, coinciding with a significant surge in silver prices. This shift suggests a growing investor preference for silver as a traditional hedge against economic uncertainty, potentially at the expense of Bitcoin's appeal.

Former SEC Chair Gary Gensler has declared that all cryptocurrency assets, with the exception of Bitcoin, are considered risky. This statement could significantly influence regulatory frameworks and investor attitudes towards cryptocurrencies globally.

The SEC has expressed concerns regarding high-leverage ETF plans associated with cryptocurrency and tech stocks, indicating a potential slowdown in the approval process for these investment vehicles. This scrutiny aims to mitigate excessive risk-taking in volatile markets.

Qivalis, a new entity backed by major European banks, is set to launch a euro stablecoin by 2026, aiming to enhance the EU's digital sovereignty and provide a competitive alternative to US dollar-dominated payment systems. This initiative reflects a growing trend among European financial institutions to develop digital currencies that align with regional economic interests.

Singularity Compute has launched the first enterprise-grade NVIDIA GPU cluster in Sweden, marking a significant advancement in decentralized AI infrastructure. This initiative is expected to accelerate the development of global Artificial Superintelligence.

American Bitcoin, a cryptocurrency backed by former President Donald Trump, has seen a significant decline of 40% in its market value, accompanied by heavy trading volume. This downturn has also negatively impacted Hut 8, which experienced a 12% drop in its stock price. The collapse reflects ongoing challenges faced by Trump family-related crypto investments.

BlackRock's newly launched Bitcoin ETF recorded an impressive trading volume of over $1.8 billion within the first two hours of its debut, indicating a strong institutional interest in cryptocurrency. This rapid uptake reflects a growing confidence among investors in the digital asset market.