NEWS DIGEST πŸš€

NEWS DIGEST πŸš€

Β 1. Trump Family Ventures into Bitcoin Mining

Eric Trump and Donald Trump Jr. have announced the launch of American Bitcoin, a new mining venture in collaboration with Hut 8. The initiative aims to establish a significant strategic bitcoin reserve, with Eric Trump serving as Chief Strategy Officer. This move further integrates the Trump family into the cryptocurrency industry.

Β 2. GameStop Adopts Bitcoin as Treasury Reserve Asset

GameStop has approved Bitcoin as a treasury reserve asset to maintain relevance in the evolving financial landscape. This strategic shift is intended to appeal to younger, tech-savvy investors. However, the announcement has not yet garnered investor confidence, with the company’s stock experiencing a decline since the news broke.

Β 3. Mastercard Develops Crypto Payment Network

Mastercard is working on creating a large-scale blockchain-based payment network to facilitate digital asset transactions among consumers, merchants, and financial institutions. The initiative involves partnerships with major banks and aims to integrate a compliant framework similar to Venmo for digital currency transfers. This effort reflects Mastercard’s commitment to expanding its presence in the digital asset space.

Β 4. SEC and Winklevoss Twins Seek Resolution in Gemini Earn Lawsuit

Gemini Trust, led by Tyler and Cameron Winklevoss, and the U.S. Securities and Exchange Commission (SEC) are exploring a potential resolution to the lawsuit concerning the Gemini Earn program. Both parties have requested a 60-day halt on all deadlines related to the case to facilitate negotiations. The lawsuit alleges that Gemini and Genesis Global Capital failed to register the cryptocurrency asset lending program aimed at retail investors.