Bitcoin’s sell-off accelerates as macroeconomic challenges prompt stock and crypto traders to cut risk. Key takeaways: Rising US trade deficits, insider stock sales, and weak Chinese banks heightened global investor caution. Whales and miners keep selling Bitcoin, but macroeconomic weakness remains the dominant driver. Read more
Gryphon Digital Mining shareholders approve the merger with Trump family-linked American Bitcoin, paving the way for Nasdaq debut under ticker ABTC. Gryphon Digital Mining, a publicly traded Bitcoin miner based in Las Vegas, Nevada, has received final shareholder approval to merge with American Bitcoin, a mining company linked to US President Donald Trump’s family. Shareholders approved the stock-for-stock merger on Wednesday, with the company announcing the decision on Friday. As part of the deal, a reverse five-to-one stock split and new listing are scheduled for 5:00 pm ET on Sept. 2. Once the reverse split is complete, the combined entity will adopt the American Bitcoin name and begin trading under the ticker symbol “ABTC.” Read more
A dismissal with prejudice means that the plaintiffs can’t amend the complaint and refile the suit, according to the general counsel for Duoro Labs. Lead plaintiffs and an investor have voluntarily dismissed their lawsuit against Bitcoin treasury company Strategy, permanently ending the case, according to a court filing obtained by Cointelegraph. The move represents a potential win for crypto treasury companies, with Strategy standing as the industry’s largest player. According to a Thursday court filing, two lead plaintiffs, Michelle Clarity and Mehmet Cihan Unlusoy, and an investor representing other shareholders, submitted the stipulation for dismissal. “The dismissal with respect to Co-Lead Plaintiffs’ claims and Anas Hamza’s claims, but not absent class members’ claims, is with prejudice,” the court document reads. In addition, “the Action has not been certified as a class action.” Read more