Crypto Biz: Hive’s Nasdaq moment, Citadel’s tokenization warning and Trump’s Bitcoin bull
Main Idea
Hive Digital Technologies marks a milestone at Nasdaq as it expands its high-performance computing (HPC) business, while Citadel Securities warns the SEC about tokenization risks, and crypto-related firms like BitGo pursue IPOs.
Key Points
1. Hive Digital Technologies, the first publicly traded Bitcoin miner, celebrated a milestone at Nasdaq, aiming for a $100 million annual run rate in its HPC business.
2. Hive's HPC business currently has a $20 million annual run rate, with projections to grow fivefold by early next year.
3. Citadel Securities cautioned the SEC against moving too quickly on tokenization, warning of potential risks to market stability.
4. David Bailey, a key figure in shifting Donald Trump's stance on Bitcoin, saw his hedge fund, 210k Capital, deliver a 640% return over 12 months.
5. BitGo filed confidentially for a US IPO as its custody business grew, with assets under custody surging to $100 billion.
Description
Hive Digital Technologies, the first publicly traded Bitcoin miner, marks a major milestone at Nasdaq as it accelerates its HPC expansion.
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