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Bitmine Climbs 6% as Ethereum Extends Rally After SEC Tokenization Order; Sharplink Rises 5%, Coinbase Jumps 6%
Ethereum rose 5.7% as the SEC opened a regulated path for tokenized U.S. stocks, lifting Bitmine and Coinbase about 6%, traders said.
- On September 17, the Securities and Exchange Commission issued a five-year exemption creating a regulated pathway for tokenized U.S. stocks, lifting crypto-linked equities Coinbase and Bitmine Immersion Technologies by 6% on Monday.
- Michael Saylor's Strategy Inc. resumed Bitcoin purchases after a two-week pause, acquiring 950 BTC for $75.7 million on September 21 while deploying $174 million to repurchase Series A Preferred Stock.
- Bitmine added 27,562 ETH last week, bringing its treasury to nearly 5.98 million tokens, with 85% of holdings staked generating projected annual revenue of roughly $357 million.
- Strategy's deployable cash fell nearly 20% to $1.05 billion from $1.30 billion a week earlier, reflecting $249.7 million in combined Bitcoin acquisitions and preferred stock repurchases.
- Chairman Tom Lee contends a crypto bull market is underway, driven by institutional rotation from artificial intelligence stocks into digital assets, ahead of his September 30 keynote at Korea Blockchain Week.
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Cryptocurrency News | Cryptocurrency Prices | Market CapStrategy buys 950 Bitcoin after two week pause in purchases
Strategy has resumed Bitcoin purchases after a two week pause, spending $75.7 million on 950 BTC while deploying another $174 million to repurchase its STRC preferred stock. According to a Form 8-K filing with the U.S. Securities and Exchange Commission…
Ethereum news: Bitmine (BMNR) adds bought $75M ETH as Tom Lee says institutions are underweight crypto
The largest Ethereum-centric treasury firm kept buying, while its chairman argued ETH’s strong third quarter could push institutions to increase crypto exposure.
·New York, United States
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Bitmine Climbs 6% as Ethereum Extends Rally After SEC Tokenization Order; Sharplink Rises 5%, Coinbase Jumps 6%
An SEC order carving out a regulated path for tokenized U.S. stocks just sent Ethereum surging and lit a fire under a handful of crypto equities, but the connection between that rulebook and these stock gains runs through a far thinner thread than most traders realize.
·Lakewood, United States
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Total News Sources48
Leaning Left1Leaning Right0Center6Last UpdatedBias Distribution86% Center
Bias Distribution
- 86% of the sources are Center
86% Center
14%
C 86%
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