Coinbase Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) stock dropped on Tuesday after it announced plans to offer $2 billion in <a href="https://www.benzinga.com/pressreleases/25/08/b46852469/coinbase-announces-proposed-private-offering-of-2-0-billion-of-convertible-senior-notes" target="_blank" rel="noreferrer noopener">convertible senior notes</a>—$1 billion due in 2029 and $1 billion in 2032—through a private placement to qualified institutional buyers under Rule 144A.



If initial purchasers exercise their options, the company may offer up to an additional $300 million across both series.



Coinbase structured the notes as senior unsecured obligations, convertible into cash, stock, or a combination at its discretion.



Also Read: <a target="_blank" href="https://www.benzinga.com/analyst-stock-ratings/downgrades/25/07/46349905/why-coinbases-huge-rally-might-be-done" rel="noreferrer noopener">Why Coinbase&#8217;s Huge Rally Might Be Done</a>



The company plans to use part of the proceeds to fund capped call transactions, which aim to minimize dilution and offset potential cash payments related to note conversions.



Coinbase intends to use the remaining funds for general corporate purposes, including working capital and expenditures, potential acquisitions, and repurchasing or repaying existing debt or common stock. The offering&#8217;s pricing, including interest rate and conversion terms, will be finalized based on market conditions.



Coinbase stock gained 24% year-to-date, surpassing the NASDAQ Composite Index&#8217;s over 9% increase, buoyed by the Trump administration&#8217;s <a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46508890/trump-signs-genius-act-ending-biden-era-crypto-probes-and-backing-industry-titans" target="_blank" rel="noreferrer noopener">crypto-friendly policies</a>.



The company reported second-quarter revenue of $1.5 billion and adjusted EPS of $0.12, both of which fell short of analyst expectations. Revenue fell 26% quarter-over-quarter, with transaction revenue down 39% to $764 million. Despite weak spot trading volumes, the company highlighted record derivatives volume and growing USDC and Base Chain adoption. 



Looking ahead, Coinbase expects July transaction revenue to be $360 million, with third-quarter subscription and services revenue between $665 million and $745 million. The company also warns of higher expenses tied to international expansion.



Last week, Cathie Wood&#8216;s Ark Invest increased its stake in Coinbase by buying 95,678 shares across three ETFs—ARKF, ARKK, and ARKW—as Bitcoin neared all-time highs and crypto market momentum strengthened. Based on the closing price, the purchase was valued at approximately $30.11 million.



Bernstein analysts expect <a href="https://www.benzinga.com/crypto/25/08/46823971/how-coinbase-robinhood-circle-could-benefit-from-the-secs-new-project-crypto" target="_blank" rel="noreferrer noopener">Coinbase to benefit</a> as the SEC approaches a blockchain-native regulatory framework. They believe the agency&#8217;s plan to allow tokenized stocks and bonds, clarify digital asset classifications, and support on-chain financial infrastructure will position platforms like Coinbase to bridge traditional and crypto capital markets, eliminating the need for offshore structures and enabling broader, integrated services.



COIN Price Action: Coinbase stock is trading lower by 2.15% to $311.53 at last check on Tuesday.



Photo: Shutterstock

Coinbase Stock Slips After $2 Billion Debt Offering—What It Means For Investors And The Crypto Giant's Next Move

San Diego-based MEI Pharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MEIP#NASDAQ">MEIP</a>) has acquired 929,548 Litecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/ltc/usd">LTC</a>) tokens, becoming the first U.S.-listed public company to adopt Litecoin as its <a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46497183/first-strategy-now-mei-pharma-litecoin-joins-bitcoin-as-treasury-asset">primary treasury reserve asset</a>.



What Happened: The acquisition, <a href="https://www.businesswire.com/news/home/20250805082856/en/MEI-Pharma-Acquires-Litecoin-Launches-%24100M-Institutional-Treasury-Strategy-with-Charlie-Lee-and-GSR-Advising">valued</a> at approximately $110.4 million as of Aug. 4, marks the launch of a $100 million institutional treasury strategy in collaboration with crypto market maker GSR and Litecoin creator Charlie Lee.



The company said it purchased the LTC tokens at an average price of $107.58, positioning the crypto asset as a strategic alternative to traditional reserve holdings. 



The move follows a broader trend of public firms exploring digital assets as part of long-term capital diversification.



&#8220;Litecoin has long embodied sound, scalable, and decentralized money,&#8221; said Charlie Lee, who also sits on MEI&#8217;s board. "By initiating this strategy, MEI is taking a clear, institutional step forward that recognizes Litecoin's role as both a reserve asset and an integral part of global financial systems."



MEI's treasury model is being guided by GSR, a leading crypto investment and trading firm, which will advise on market structure, governance, and execution.



Also Read: <a href="https://www.benzinga.com/crypto/cryptocurrency/25/08/46856565/coinbase-circle-metaplanet-stocks-tumble-whats-driving-the-decline">Coinbase, Circle, Metaplanet Stocks Tumble: What&#8217;s Driving The Decline?</a>



<h3 class="wp-block-heading">Why Litecoin?</h3>



The firm cited several reasons behind its decision:



<ul class="wp-block-list">
<li>13+ years of uptime: Litecoin remains one of the most reliable blockchains in terms of network availability.</li>



<li>Low fees and fast settlements: Ideal for treasury and operational use cases.</li>



<li>Ecosystem adoption: Litecoin is already integrated into platforms like PayPal (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>), BitPay, Venmo, and Robinhood (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>), offering significant merchant and user traction.</li>
</ul>



MEI Pharma's move follows in the footsteps of other publicly traded firms holding crypto in treasury, though this is the first such bet on Litecoin.



<ul class="wp-block-list">
<li>Strategy holds <a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46706233/strategy-closes-2-52b-strc-ipo-acquires-21021-bitcoin-at-117k-each">628,791 Bitcoin</a> ($46.8 billion as of recent filings).</li>



<li>Tesla holds 11,509 Bitcoin, representing 0.055% of the total Bitcoin supply.</li>



<li>Coinbase (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) holds 11,776 Bitcoin and CleanSpark (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLSK#NASDAQ">CLSK</a>) controls 12,608 Bitcoin, or about 0.060% of the total supply.</li>



<li>Galaxy Digital owns 12,830 Bitcoin, equal to 0.061% of the total supply.</li>



<li>Investment firm Metaplanet (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MTPLF#OTC">MTPLF</a>) holds 17,595 Bitcoin, worth 0.084% of the global supply.</li>



<li>Trump Media &amp; Technology Group Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>) owns 18,430 Bitcoin.</li>
</ul>



Unlike these companies, MEI is the first to exclusively adopt LTC as a primary reserve asset, a notable move given Litecoin's reputation for reliability but generally lower profile in corporate circles compared to BTC or (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>).



MEI indicated that further changes to its corporate identity are forthcoming, signaling a broader pivot towards fintech and possibly even Litecoin mining. 



Despite this, the company emphasized its continued focus on its drug candidate pipeline, including voruciclib, a CDK9 inhibitor currently in pre-clinical stages.



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/08/46832921/sharplink-ups-ethereum-bets-closes-in-on-500000-eth-holdings">SharpLink Ups Ethereum Bets, Closes In On 500,000 ETH Holdings</a></li>
</ul>



Image: Shutterstock

MEI Pharma Chooses Not Bitcoin, Not Ethereum, But Litecoin As Treasury Asset

Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) could see a <a href="https://www.benzinga.com/money/bitcoin-price-prediction">strong end to the year</a>, according to fresh technical analysis by a prominent market observer.



What Happened: Pseudonymous analyst Virtual Bacon <a href="https://x.com/VirtualBacon0x/status/1952460673973178821?t=1842">stated</a> that a Q4 rally hinges on whether August's uncertainty clears by September. 



He highlights Bitcoin dominance as a critical factor for altcoin strength, which could drop going into Q4.



Bacon warned that even a slight rise in Bitcoin dominance could hurt low-cap altcoins, while larger caps like ETH or Binance Coin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/bnb/usd">BNB</a>) remain resilient.



<ul class="wp-block-list">
<li>Bitcoin: Bull market support sits at $91,500. Bacon expects possible weakness in August, targeting the 20-week SMA near $103,000 — aligning with weekly candle closes from December 2024. "This is a buying opportunity, not a bearish signal," he added.</li>



<li>Ethereum: Support lies at the 50-week SMA near $2,700. The ETH/BTC pair is crucial — Ethereum must avoid underperforming BTC to preserve its uptrend. "We don't want Ethereum to drop faster than Bitcoin," the analyst noted.</li>
</ul>



Bacon prefers large-cap altcoins over speculative plays. 



He specifically pointed to BNB as undervalued, citing regulatory clarity and strategic partnerships like Binance x World Liberty as long-term positives. "BNB is still massively undervalued compared to Bitcoin," he said.



He projects a 40–60% move in Bitcoin once consolidation resolves, targeting $140,000 to $150,000 by year-end.



Also Read: <a href="https://www.benzinga.com/crypto/cryptocurrency/25/08/46851753/ethereum-reclaims-3600-when-will-the-4000-resistance-break">Ethereum Reclaims $3,600: When Will The $4,000 Resistance Break?</a>



What&#8217;s Next: Bacon expects August market uncertainty to resolve by September as Trump&#8217;s tariff implementation and improved Fed rate cut odds create short-term volatility before a Q4 rally. 



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/08/46853757/bitcoin-stalls-while-ethereum-xrp-dogecoin-continue-to-climb">Bitcoin Stalls While Ethereum, XRP, Dogecoin Continue To Climb</a></li>
</ul>

Here's When You'll Know If A Bitcoin, Ethereum Rally In Q4 Is Coming

A wave of sharp drawdowns across crypto-exposed equities like Coinbase (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), Circle (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRCL#NYSE">CRCL</a>), and Metaplanet (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MTPLF#OTC">MTPLF</a>) is pointing to a broad market <a href="https://www.benzinga.com/crypto/25/08/46823971/how-coinbase-robinhood-circle-could-benefit-from-the-secs-new-project-crypto">rejection of inflated valuations</a>.



What Happened: The declines, driven less by macro headwinds and more by overpayment for narrative-driven exposure, are triggering a necessary reset in how investors price crypto's equity proxies, according to 10x Research.



Crypto equities are undergoing a painful repricing. 



Shares of major crypto-linked companies, including Coinbase, Circle, Japan's Metaplanet, and South Korea's Kakaopay, have posted losses of up to 50% from recent highs, a collapse fueled not by systemic failures, but by investor realization that the premium they paid for exposure to digital assets was detached from financial fundamentals.



Metaplanet, once touted as Japan's &#8220;Strategy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) proxy,&#8221; has seen its stock plunge over 50% from its June peak. 



The company had benefited from local programs like the NISA tax shelter and speculative retail flows anticipating crypto ETF approvals and a friendlier tax regime in Japan. 



However, with no concrete policy changes materializing, speculative demand has evaporated.



Circle, the issuer of USDC, is still trading at a 153x forward price-to-earnings (P/E) ratio, a valuation that has come under increased scrutiny. 



Coinbase and Robinhood (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>), by comparison, sit at 102x and 69x, respectively. 



In an environment where trading volumes have plummeted, from $299 billion in mid-July to between $108–138 billion, the earnings potential of these platforms is contracting, leaving their rich valuations harder to justify.



Coinbase stock is now approximately 5% below its modeled fair value relative to Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), according to the 10x analysis. 



Also Read: <a href="https://www.benzinga.com/crypto/cryptocurrency/25/08/46832921/sharplink-ups-ethereum-bets-closes-in-on-500000-eth-holdings">SharpLink Ups Ethereum Bets, Closes In On 500,000 ETH Holdings</a>



Why It Matters: Analysts believe further downside may be warranted.



A drop below $300 could bring it into more attractive territory, especially as lower volatility erodes the bullish sentiment that previously sustained inflated multiples.



Realized volatility in Bitcoin has fallen to just 28%, a level that reflects not just short-term consolidation but also a deeper loss of speculative momentum. 



Crypto-exposed equities rely heavily on high realized volatility to sustain upside potential and investor interest. 



As this key input dries up, the structural bull case for these equities weakens.



Bitmine (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/BMNR#AMEX">BMNR</a>) and Sharplink (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBET#NASDAQ">SBET</a>), two smaller Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)-adjacent names, are also unraveling under the same pressure: a fading narrative premium and weakening volume data. 



With sentiment souring and few near-term catalysts, newer investors, particularly those who bought the recent top, are capitulating.



The repricing appears to be driven by three key factors:



<ol class="wp-block-list">
<li>Excessive valuations relative to earnings</li>



<li>Rapidly declining crypto trading volumes</li>



<li>Narratives outpacing actual adoption or monetization</li>
</ol>



Crucially, the report highlights that this isn't just a short-term correction. 



It reflects a broader shift in how investors view equity-based crypto exposure. 



The traditional assumption that holding equity in a crypto-aligned company offers leveraged upside to token growth is being challenged by a more disciplined approach to entry points, earnings quality, and user retention.



For now, analysts advise caution. 



While a further 10–20% decline in some of these names could make them compelling, they argue that high-conviction accumulation should wait until momentum flips positive and valuations compress further. 



Retail investors may need to endure more pain before opportunity emerges.



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/08/46831607/bitcoin-mining-with-nuclear-energy-french-lawmakers-are-considering-it">Bitcoin Mining With Nuclear Energy? French Lawmakers Are Considering It</a></li>
</ul>



Image: Shutterstock

Coinbase, Circle, Metaplanet Stocks Tumble: What's Driving The Decline?

Cryptocurrency markets are trending up on Tuesday, with altcoins once again outperforming Bitcoin.



<figure class="wp-block-table"><table class="has-fixed-layout"><tbody><tr><td>Cryptocurrency</td><td>Ticker</td><td>Price</td></tr><tr><td>Bitcoin</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>$114,753.95</td></tr><tr><td>Ethereum</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</td><td>$3,671.18</td></tr><tr><td>Solana</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)</td><td>$170.81</td></tr><tr><td>XRP</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>)</td><td>$3.07</td></tr><tr><td>Dogecoin</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</td><td>$0.2075</td></tr><tr><td>Shiba Inu</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>)</td><td>$0.00001234</td></tr></tbody></table></figure>



Notable Statistics:



<ul class="wp-block-list">
<li>IntoTheBlock data shows Bitcoin and Ethereum large transaction increased by 49.4% and 112.3%, respectively. Daily active addresses grew 15.9% and decreased 1.6%, respectively.</li>



<li>Coinglass data shows 116,499 traders were liquidated in the past 24 hours for $304.68 million.</li>



<li>SoSoValue data shows net outflows of $333.2 million from spot Bitcoin ETFs on Wednesday. Spot Ethereum ETFs saw net outflows of $465 million.</li>
</ul>



Trader Notes: Glassnode <a href="https://x.com/glassnode/status/1952636105154605482">data</a> shows Bitcoin steadily building out a staircase-like structure between $109,000 and $116,000, as investors continue accumulating during dips. There's minimal selling activity from holders in the $118,000–$120,000 range, suggesting strong conviction to hold rather than exit.



Crypto chart analyst Ali Martinez identifies $111,000 as a critical support level for Bitcoin. If BTC breaks below it, the next major demand zone sits around $90,000, based on Pricing Bands analysis.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">$111,000 is a critical support level for Bitcoin <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a>. If it breaks, the next key demand zone sits around $90,000, according to the Pricing Bands. <a href="https://t.co/XfWbofw7ZS">pic.twitter.com/XfWbofw7ZS</a>&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1952652294996234541?ref_src=twsrc%5Etfw">August 5, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Crypto trader Teddy Cleps <a href="https://x.com/TeddyCleps/status/1952626126074888432">says</a> ETH is breaking out of its downtrend channel and has re-entered its main uptrend channel. While some short-term consolidation is expected near the lower boundary, ETH is now positioned to climb toward new highs once it regains the upper channel.



Crypto trader Jelle notes that Solana is quietly building strength, forming higher lows and flipping resistance into support. A move back above $200 could spark momentum, with a new all-time high possible this quarter.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">People are hating on it, but <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SOL</a> is quietly trending higher. Higher lows, turning resistance levels back into support. Get back above $200 again, and I doubt the train stops anytime soon. New all-time highs, this quarter. <a href="https://t.co/abCacPzlFD">pic.twitter.com/abCacPzlFD</a>&mdash; Jelle (@CryptoJelleNL) <a href="https://twitter.com/CryptoJelleNL/status/1952668136928391399?ref_src=twsrc%5Etfw">August 5, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Trader Tardigrade <a href="https://x.com/TATrader_Alan/status/1952656343443353856">highlights</a> that DOGE is forming a weekly ascending broadening wedge, a bullish structure with higher highs and higher lows. If the pattern completes and breaks out, the near-term target is $1.40, driven by accelerated momentum.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/08/46851753/ethereum-reclaims-3600-when-will-the-4000-resistance-break">Ethereum Reclaims $3,600: When Will The $4,000 Resistance Break?</a></li>
</ul>



Image: Shutterstock

Bitcoin Stalls While Ethereum, XRP, Dogecoin Continue To Climb

BitMine Immersion Technologies, Inc. (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/BMNR#AMEX">BMNR</a>) is aggressively investing in Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), with its current holdings far exceeding those of the network's co-founder, Vitalik Buterin.



BMNR is gaining ground. Track <a href="https://www.benzinga.com/quote/BMNR">live prices here</a>.



<h2 class="wp-block-heading">World&#8217;s Biggest Ethereum Reserve</h2>



The company revealed holding 833,133 ETH tokens, worth nearly $3.0 billion, on Monday, making it the <a href="https://www.benzinga.com/trading-ideas/movers/25/08/46837768/bitmine-stock-is-trading-higher-monday-whats-going-on">world's largest Ethereum treasury</a> and the third-largest cryptocurrency treasury overall.



Interestingly, Ethereum&#8217;s co-founder Buterin owns far fewer ETH than this. According to blockchain analytics firm <a href="https://intel.arkm.com/explorer/entity/vitalik-buterin">Arkham</a>, the wallet tied to Buterin holds 240,042 ETH as of this writing, roughly a quarter of BitMine&#8217;s holdings.



See Also:<a href="https://www.benzinga.com/25/04/44621245/gold-backed-cryptos-match-yellow-metals-highs-following-trumps-liberation-day-shock"> </a><a href="https://www.benzinga.com/crypto/cryptocurrency/25/08/46824435/eric-trump-advises-to-buy-bitcoin-ethereum-dips-last-time-he-said-this-the-two-coins-fell-to-their-yearly-lows-in-barely-45-days">Eric Trump Advises To Buy Bitcoin, Ethereum Dips — Last Time He Said This, The Two Coins Fell To Their Yearly Lows In Barely 45 Days</a>



<h2 class="wp-block-heading">Wall Streeters Bet On ETH Play</h2>



Previously a small-cap Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) mining firm, BitMine's fortunes have soared <a href="https://www.benzinga.com/crypto/25/07/46187962/ethereum-the-next-big-thing-in-banking-tom-lee-thinks-so-and-wants-this-small-cap-company-he-chairs-to-front-run-the-likes-of-goldman-sachs-jpmorgan">since switching to an ETH treasury strategy</a>. The company wants to acquire 5% of the circulating ETH supply.



The company roped in popular Wall Street analyst Tom Lee as Chairman, while seasoned investors like Cathie Wood and Peter Thiel<a href="https://www.benzinga.com/crypto/25/07/46678140/bitmine-stock-falls-15-1-after-hours-as-peter-thiel-backed-company-files-shelf-offering-might-consider-ethereum-purchase-with-proceeds"> have acquired significant stakes</a>.



<h2 class="wp-block-heading">The Strategy Playbook</h2>



BitMine is replicating the cryptocurrency treasury blueprint popularized by Michael Saylor&#8217;s Strategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>), but has opted for ETH over BTC. 



Lee said earlier that ETH will play a crucial role in the banking sector's future, and the <a href="https://www.benzinga.com/crypto/25/07/46187962/ethereum-the-next-big-thing-in-banking-tom-lee-thinks-so-and-wants-this-small-cap-company-he-chairs-to-front-run-the-likes-of-goldman-sachs-jpmorgan">company wants</a> to "get in front" of the impending accumulation by Wall Street giants.



Price Action: At the time of writing, ETH was trading at $114,57, up 3.12% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.&nbsp;&nbsp;



BitMine shares were up 1.51% in pre-market trading after closing 1.74% lower at $31.13 during Monday&#8217;s regular session. Since adopting the ETH treasury strategy, the stock has exploded 630%.



As of this writing, the stock demonstrated a very high Momentum score. Visit <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Benzinga Edge Stock Rankings</a> to see how Strategy and other Bitcoin-buying companies stack up.



<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="438" height="208" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/08/05061742/image-61.png" alt="" class="wp-image-1014858" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/08/05061742/image-61.png 438w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/08/05061742/image-61-300x142.png 300w" sizes="(max-width: 438px) 100vw, 438px" /></a></figure>



Read Next:&nbsp;



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/25/08/46847840/tom-lee-calls-ethereum-the-biggest-macro-trends-for-the-next-10-15-years-as-bitmine-becomes-largest-eth-holder-with-3-billion-treasury">Tom Lee Calls Ethereum The &#8216;Biggest Macro Trends For The Next 10–15 Years&#8217; As BitMine Becomes Largest ETH Holder With $3 Billion Treasury</a></li>
</ul>



Photo: Shutterstock

Ethereum Treasury Wave Sweeps Walls Street: This Company Now Holds Nearly 4x More ETH Than Vitalik Buterin

Ethereum&#8217;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) has rebounded above $3,600, sparking a discussion about whether the coveted $4,000 resistance <a href="https://www.benzinga.com/money/ethereum-eth-price-predictions#:~:text=Maximum%20Prediction%3A%20%244%2C783,regulatory%20developments%20could%20moderate%20prices.">may fall soon</a>.



What Happened: In his latest <a href="https://www.youtube.com/watch?v=dQmZiBgSOms">podcast</a>, analyst Benjamin Cowen predicted Ethereum could hit new all-time highs between $5,300 and $7,500 by the end of 2025, based on a harmonic "butterfly effect" pattern. 



Cowen expects short-term weakness to continue through September and October, mirroring historical cycle behaviour.



Cowen's outlook is rooted in Ethereum &#8220;going home&#8221; in April 2024, when ETH revisited its bull market support band for the first time since 2020. 



"When Ethereum goes home, it's usually a good opportunity to buy," Cowen said, noting this behaviour often aligns with ETH bottoming vs. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>).



Drawing on past cycles, Cowen highlights that Ethereum's return to its regression band in 2016 and 2019 marked major bottom formations, followed by aggressive rallies to new highs. 



He expects a similar path: August–September weakness, a higher low, then a breakout to fresh cycle highs.



Cowen also compares ETH's current structure to Tesla's 2023 performance: both assets formed macro higher lows in April, rallied into mid-July, then pulled back. 



"Tesla may have given a blueprint for Ethereum," he observed, citing Tesla's December breakout as a model for ETH's potential year-end rally.



Also Read: <a href="https://www.benzinga.com/crypto/cryptocurrency/25/08/46823618/bitcoin-ethereum-xrp-dogecoin-continue-relief-rally-off-saturday-lows">Bitcoin, Ethereum, XRP, Dogecoin Continue Relief Rally Off Saturday Lows</a>



What's Next: Cowen's $5,300–$7,500 target is based on the butterfly harmonic pattern, with outcomes depending on timing and structure. 



If ETH breaks above $3,800–$3,900 before any September correction, the higher end of the range becomes more likely. 



But a failure to break resistance soon could keep it near the lower target. Key levels to watch are:



<ul class="wp-block-list">
<li>Support: Bull market support band around $2,400–$2,700, rising over time.</li>



<li>Resistance: The previous ATH at $4,800, a critical level for trend continuation.</li>
</ul>



Cowen emphasized the risk of a harsh bear market in 2026, predicting Ethereum will eventually return to its regression band, despite hitting new highs beforehand. 



"Path matters more than destination," he said, advising traders to understand ETH's tendency to retest support zones and to remain flexible in flipping bullish once key macro signals align.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46754477/ethereum-etfs-treasury-companies-now-hold-over-32b-in-eth-heres-whats-driving-the-frenzy">Ethereum ETFs, Treasury Companies Now Hold Over $32B In ETH: Here&#8217;s What&#8217;s Driving The Frenzy</a></li>
</ul>



Image: Shutterstock

Ethereum Reclaims $3,600: When Will The $4,000 Resistance Break?

Litecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/ltc/usd">LTC</a>) bumped to a five-month high Monday, buoyed by prospects for its spot exchange-traded fund approval.



<h2 class="wp-block-heading">LTC Breaks $121</h2>



The proof-of-work cryptocurrency popped over 9% to sail past $121, the highest it has been since early March. As of this writing, LTC was the market's third-biggest gainer in the last 24 hours.&nbsp;



The coin's trading volume skyrocketed 168% to $1.68 billion, reflecting high trader interest and liquidity.&nbsp;



LTC's spike overshadowed the more popular coins such as Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>), which gained 0.02% and 3.78%, respectively.



See Also:<a href="https://www.benzinga.com/25/04/44621245/gold-backed-cryptos-match-yellow-metals-highs-following-trumps-liberation-day-shock"> </a><a href="https://www.benzinga.com/crypto/cryptocurrency/25/08/46846547/palantir-fever-is-running-high-today-meanwhile-this-peter-thiel-backed-crypto-exchange-aims-for-4-3-billion-ipo">Palantir Fever Is Running High Today; Meanwhile, This Peter Thiel-Backed Crypto Exchange Aims For $4.3 Billion IPO</a>



<h2 class="wp-block-heading">What&#8217;s The Next Target?</h2>



Cryptocurrency commentator Rain set a $150 price target for the coin, projecting that big moves are "likely to come."



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Litecoin has been on a strong rise since April. Now trading above $120 at a critical level. $150 is the nearest target, with big moves likely to come. Volume and momentum pick up<a href="https://twitter.com/search?q=%24LTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$LTC</a> is showing more strength than many altcoins. Time to return to all time highs is near. <a href="https://t.co/uPsHWfTLb1">pic.twitter.com/uPsHWfTLb1</a>&mdash; Rain (@raintures) <a href="https://twitter.com/raintures/status/1952575991412367478?ref_src=twsrc%5Etfw">August 5, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Diamond hands were piling on the coin, evidenced by the increase in the balance held by long-term holders, <a href="https://app.intotheblock.com/">according</a> to IntoTheBlock data. Moreover, whale transactions, i.e., those valued at over $100,000 increased 9.38% in the last 24 hours.



<h2 class="wp-block-heading">Spot ETF Frenzy</h2>



Excitement was building around an <a href="https://www.benzinga.com/trading-ideas/movers/25/05/45188301/litecoin-defies-bitcoin-ethereum-dip-ahead-of-sec-etf-decision-a-delay-is-more-likely-says-expert">LTC spot ETF</a>, with popular asset management firms such as Grayscale, CoinShares and Canary Funds vying to introduce the $9 billion asset to Wall Street. The final deadline for the Canary ETF is set for Oct. 2.



As of this writing, cryptocurrency bettors on popular prediction platform Polymarket expected over <a href="https://polymarket.com/event/litecoin-etf-approved-in-2025">80%</a> chance of approval in 2025. Bloomberg analyst Eric Balchunas predicted earlier in the year that <a href="https://www.benzinga.com/trading-ideas/movers/25/01/43047964/litecoin-surges-12-after-analyst-says-altcoin-most-likely-to-have-next-etf-after-bitcoin-ethereum">Litecoin would be the first altcoin ETF </a>in 2025



Price Action: At the time of writing, LTC was trading at $121.35, up 9.7% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.&nbsp;&nbsp;



Photo Courtesy: alfernec on Shutterstock.com



Read Next:&nbsp;



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/08/46840318/bitcoin-holds-steady-as-ethereum-xrp-dogecoin-lead-altcoin-rally">Bitcoin Holds Steady As Ethereum, XRP, Dogecoin Lead Altcoin Rally</a></li>
</ul>

Litecoin Rallies Past Bitcoin, Dogecoin To Hit A 5-Month High As Spot ETF Approval Odds Spike

Fundstrat Global Advisors Head of Research Tom Lee said Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) is among the &#8220;biggest macro trends for the next 10-15 years&#8221; as BitMine Immersion Technologies Inc. (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/BMNR#AMEX">BMNR</a>) announced on Monday it now holds 833,133 ETH tokens valued at $3.0 billion.



<h2 class="wp-block-heading">BitMine Achieves Record ETH Holdings</h2>



BitMine launched its ETH treasury strategy on June 30, completing the initial phase on July 8. The company now holds the world&#8217;s largest Ethereum treasury and ranks third globally in crypto holdings behind MicroStrategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) and MARA Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MARA#NASDAQ">MARA</a>).



&#8220;BitMine moved with lightning speed in its pursuit of the &#8216;alchemy of 5%&#8217; of ETH growing our ETH holdings to over 833,000 from zero 35 days ago,&#8221; said Lee, who serves as chairman of BitMine&#8217;s board.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Big milestone for BitMine today &#x1f389; &#x1f447; BMNR now owns 833,133 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> tokens, valued at $3.0 billion &#8211; largest ETH Treasury in the World &#8211; 3rd largest crypto treasury ETH remains one of the biggest macro trends for the next 10-15 years, as Wall Street financializes on blockchain… <a href="https://t.co/cIJqpt0OAO">https://t.co/cIJqpt0OAO</a> <a href="https://t.co/bXPlXM8CQK">pic.twitter.com/bXPlXM8CQK</a>&mdash; Thomas (Tom) Lee (not drummer) FSInsight.com (@fundstrat) <a href="https://twitter.com/fundstrat/status/1952379337799348466?ref_src=twsrc%5Etfw">August 4, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



See Also: <a href="https://www.benzinga.com/news/politics/25/08/46847545/trump-prepares-to-impose-penalty-on-banks-found-to-discriminate-against-conservatives-crypto-firms-report">Trump Prepares To Impose Penalty On Banks Found To Discriminate Against Conservatives, Crypto Firms: Report</a>



<h2 class="wp-block-heading">Institutional Backing Strengthens Position</h2>



Iconic investor Bill Miller III, senior advisor to Miller Value Partners, recently took a significant stake in BitMine. He joins institutional investors including ARK&#8217;s Cathie Wood, MOZAYYX, Founders Fund, Pantera, <a href="https://www.prnewswire.com/news-releases/bitmine-immersion-bmnr-eth-holdings-exceed-833-000-tokens-valued-in-excess-of-2-9-billion-and-largest-eth-treasury-in-world-302520506.html">Kraken</a>, Digital Currency Group, and Galaxy Digital, supporting BitMine&#8217;s goal of acquiring 5% of the total ETH supply.



Miller III previously invested in MicroStrategy in late 2020 following its Bitcoin treasury pivot. &#8220;What is intriguing is BitMine is set to be very profitable once the Company turns on ETH staking,&#8221; Miller III stated.



<h2 class="wp-block-heading">Market Liquidity Surge</h2>



BitMine now ranks as the 42nd most liquid U.S. stock, trading an average $1.6 billion daily volume over five sessions, according to Fundstrat data. This places BMNR behind Uber Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>) among 5,704 U.S.-listed stocks.



Lee previously emphasized <a href="https://www.benzinga.com/crypto/25/07/46434516/tom-lee-says-ethereum-set-for-breakout-as-stablecoins-become-chatgpt-moment-for-wall-street-and-crypto">Ethereum&#8217;s institutional adoption</a>, noting JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) built its stablecoin on Ethereum while Robinhood Markets Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>) develops tokenization infrastructure on the platform. 



Price Action: Bitmine Immersion Technologies closed at $31.13 on Monday, down 2.96%, but rose 1.92% after hours. The stock is up 344.71% year to date. Meanwhile, Ethereum traded at $3,656.62, up 3.49% in the last 24 hours, with a market cap of $441.38 billion and a 9.86% gain year to date.



Read Next: 



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<li><a href="https://www.benzinga.com/markets/equities/25/08/46847475/palantir-surges-over-4-in-after-hours-trading-on-strong-q2-earnings-analyst-warns-august-could-trigger-mean-reversion-as-pltr-trades-at-80x-revenue">Palantir Surges Over 4% In After Hours Trading On Strong Q2 Earnings—Analyst Warns August Could Trigger &#8216;Mean Reversion&#8217; As PLTR Trades At 80x Revenue</a></li>
</ul>



Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.



Photo Courtesy: Zakharchuk on Shutterstock.com

Tom Lee Calls Ethereum The 'Biggest Macro Trends For The Next 10–15 Years' As BitMine Becomes Largest ETH Holder With $3 Billion Treasury

The White House is preparing an executive order to impose penalties on banks allegedly discriminating against conservatives and cryptocurrency firms, according to a report on Monday.



<h2 class="wp-block-heading">Order Targets &#8216;Discriminatory&#8217; Policies</h2>



The executive order could impose fines on financial institutions that sever ties with customers for political reasons, The Wall Street Journal <a href="https://www.wsj.com/finance/regulation/white-house-preps-order-to-punish-banks-that-discriminate-against-conservatives-8af18854">reported</a>. The draft order&nbsp;directs regulators to investigate&nbsp;whether any banks&nbsp;have violated the Equal Credit&nbsp;Opportunity Act, antitrust laws or consumer financial protection laws.&nbsp;



The order might be signed as early as this week, the report said, citing people familiar with the matter, but there could be delays or alterations to the administration&#8217;s plans.



The White House didn&#8217;t immediately return Benzinga&#8217;s request for comment.



See Also:&nbsp;<a href="https://www.benzinga.com/crypto/cryptocurrency/25/08/46831607/bitcoin-mining-with-nuclear-energy-french-lawmakers-are-considering-it">Bitcoin Mining With Nuclear Energy? French Lawmakers Are Considering It</a>



<h2 class="wp-block-heading">Tussle Between Crypto Industry And Regulators To End?</h2>



The tension between banks and the cryptocurrency industry escalated during the Biden administration, with cryptocurrency behemoth Coinbase Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41735471/coinbase-ceo-brian-armstrong-criticizes-regulatory-overreach-nothing-to-capture-in-small-g">accusing the Federal Deposit Insurance Corporation</a> of instructing banks to halt or refrain from offering cryptocurrency-banking services. The company <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39526310/coinbase-sues-sec-and-fdic-over-alleged-attempts-to-stifle-crypto-industry">sued </a>the regulator last year for failing to comply with Freedom of Information Act requests.



An FDIC spokesperson told Benzinga earlier that Coinbase executives misinterpreted their guidance to banks.



However, things appear to have taken a significant turn under President Donald Trump. The SEC <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43181875/sec-repeals-sab-121-policy-that-restricted-banks-from-providing-custody-services-for-bitcoin-crypto-mom-says-bye-bye">repealed a cryptocurrency accounting directive</a> earlier this year that prevented banking institutions from providing custodial services for digital assets.



Notably, both the Senate and the House voted unanimously to overturn the directive last year. However, the&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39214376/biden-vetoes-bipartisan-bill-to-overturn-secs-crypto-custody-rules" target="_blank" rel="noreferrer noopener">resolution was vetoed</a>&nbsp;by the White House under former President&nbsp;Joe Biden.



The SEC launched a new initiative called "<a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46770711/sec-launches-project-crypto-heres-what-it-means-for-you">Project Crypto</a>" last week, aimed at revamping securities regulations to accommodate blockchain-based financial systems. 



The COIN stock rose 1.11% to $318.17 during Monday&#8217;s regular trading session. As of this writing, it ranked higher on the Momentum and Value rankings. Compare the stock&#8217;s performance with &#8220;Mag 7&#8221; firms, using the <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Benzinga Edge Stock Rankings</a>.



<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="443" height="192" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/08/05002334/image-45.png" alt="" class="wp-image-1014283" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/08/05002334/image-45.png 443w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/08/05002334/image-45-300x130.png 300w" sizes="(max-width: 443px) 100vw, 443px" /></figure>



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<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46723859/trumps-advisors-just-laid-out-a-crypto-blueprint-heres-whats-in-it">Trump&#8217;s Advisors Just Laid Out A Crypto Blueprint—Here&#8217;s What&#8217;s In It</a></li>
</ul>



Photo Courtesy: Rawpixel.com on Shutterstock.com



Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" rel="noreferrer noopener" target="_blank"></a>

Trump Prepares To Impose Penalty On Banks Found To Discriminate Against Conservatives, Crypto Firms: Report

Cryptocurrency exchange&nbsp;Bullish&nbsp;is targeting a valuation of&nbsp;up to $4.32 billion in&nbsp;its upcoming initial public offering in the U.S., the company disclosed on Monday.



<h2 class="wp-block-heading">Details Of The IPO</h2>



Bullish, <a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43493995/peter-thiel-backed-crypto-exchange-reportedly-plans-ipo-in-2025-amid-bitcoin-and-digital-currency-boom">backed </a>by billionaire investor and entrepreneur Peter Thiel, is seeking to raise&nbsp;up to $629.3 million by&nbsp;offering 20.3 million shares priced&nbsp;between $28 and $31 each. The company applied to list the shares on the New York Stock Exchange under the ticker "BLSH.&#8221;



&#8220;We have granted the underwriters an option for a period of 30 days from the date of this prospectus to purchase up to 3,045,000 additional Ordinary Shares, at the initial public offering price, less underwriting discounts and commissions,&#8221; Bullish said. JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) and Jefferies Financial Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JEF#NYSE">JEF</a>) are the lead underwriters.



See Also:&nbsp;<a href="https://benzinga.com/crypto/cryptocurrency/25/08/46824435/eric-trump-advises-to-buy-bitcoin-ethereum-dips-last-time-he-said-this-the-two-coins-fell-to-their-yearly-lows-in-barely-45-days" target="_blank" rel="noreferrer noopener">Eric Trump Advises To Buy Bitcoin, Ethereum Dips — Last Time He Said This, The Two Coins Fell To Their Yearly Lows In Barely 45 Days</a>



The company added that the total number of shares outstanding could go up to 139,528,739 after the offering, potentially valuing the IPO at $4.32 billion.



<h2 class="wp-block-heading">Second Time Lucky</h2>



This is the second time Bullish has attempted to go public in the last four years. The company initially planned to go public through a special purpose acquisition company in 2021, but the plan was abandoned in 2022 due to regulatory challenges.



The company intends to convert a significant part of the IPO proceeds into U.S.-dollar-denominated stablecoins with the&nbsp;assistance of one or more&nbsp;issuers of such tokens.



Bullish also operates a crypto news website, CoinDesk, which it&nbsp;acquired&nbsp;from Barry Silbert&#8217;s Digital Currency Group in 2023. The firm, led by CEO&nbsp;Tom Farley,&nbsp;has over 275 employees globally and operates in Hong Kong, the U.S. and Europe.



<h2 class="wp-block-heading">&#8216;Bullish&#8217; Momentum For Crypto In The US</h2>



The cryptocurrency industry has gained momentum due to the Trump administration&#8217;s friendly policymaking, <a href="https://www.benzinga.com/government/regulations/25/05/45511929/coinbase-ceo-brian-armstrong-hails-huge-win-as-genius-act-advances-with-bipartisan-senate-support">including&nbsp;the recent passage of the&nbsp;GENIUS Act</a>, which provides an&nbsp;initial regulatory framework for stablecoins. 



Notably, Circle Internet Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRCL#NYSE">CRCL</a>), a prominent stablecoin issuer, recorded a blockbuster public listing in June, surging 138% since its debut.



The stock demonstrated a low Value score as of this writing. Are you looking for cryptocurrency-linked stocks for your portfolio? Check out&nbsp;<a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound" target="_blank" rel="noreferrer noopener">Benzinga Edge Stock Rankings</a>&nbsp;to filter out the best performers on other key measures such as Momentum, Growth, and Quality.



<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="442" height="193" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/08/04230306/image-43.png" alt="" class="wp-image-1014210" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/08/04230306/image-43.png 442w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/08/04230306/image-43-300x131.png 300w" sizes="(max-width: 442px) 100vw, 442px" /></a></figure>



Meanwhile, Palantir Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>), co-founded by Thiel, reported financial results for the second quarter after the market closed, with revenue and earnings <a href="https://www.benzinga.com/markets/earnings/25/08/46840353/palantir-q2-earnings-revenue-eps-beat-estimates-company-raises-guidance-citing-astonishing-impact-of-ai-leverage">smashing analysts&#8217; expectations</a>. The firm topped $1 billion in quarterly revenue for the first time.



Photo: Hepha1st0s On Shutterstock.com



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Palantir Fever Is Running High Today; Meanwhile, This Peter Thiel-Backed Crypto Exchange Aims For $4.3 Billion IPO

Bitcoin was steady, but Ethereum surged on Monday as companies aggressively bought the second-largest cryptocurrency for their reserves.



<figure class="wp-block-table"><table class="has-fixed-layout"><thead><tr><th>Cryptocurrency</th><th>Gains +/-</th><th>Price (Recorded at 9:30 p.m. ET)</th></tr></thead><tbody><tr><td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>-0.01%</td><td>$114,846.41</td></tr><tr><td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+4.21%</td><td>$3,694.69</td></tr><tr><td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+3.66%</td><td>$0.2092</td></tr><tr><td>XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+1.87%</td><td>$3.07</td></tr><tr><td>Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+3.13%</td><td>$169.27</td></tr></tbody></table></figure>



<h2 class="wp-block-heading">Institutional Buying Boosts ETH</h2>



Bitcoin oscillated between $114,700 and $115, 500 for most of the day, with the intraday peak at $115,729.47.



Ethereum, on the other hand, rose steeply, <a href="https://www.benzinga.com/crypto/cryptocurrency/25/08/46832921/sharplink-ups-ethereum-bets-closes-in-on-500000-eth-holdings">buoyed by aggressive accumulation</a> by ETH treasury companies, including SharpLink Gaming Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBET#NASDAQ">SBET</a>).



Over $211 was liquidated from the cryptocurrency market in the last 24 hours, with $141 million in downside bets wiped out.



Bitcoin's open interest fell by 0.88% in the last 24 hours, while Ethereum's open interest rose 2.62% in the same time. Interestingly, Binance Futures still leaned bullish for BTC, according to the Long/Short ratio.



The "greed" sentiment weakened over the last 24 hours, according to the Crypto Fear &amp; Greed Index.



Top Gainers (24 Hours)



<figure class="wp-block-table"><table class="has-fixed-layout"><thead><tr><th>Cryptocurrency</th><th>Gains +/-</th><th>Price (Recorded at 9:30 p.m. ET)</th></tr></thead><tbody><tr><td>Memecore (M)&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+28.52%</td><td>$0.5738</td></tr><tr><td>Mantle (MNT)&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+15.64%</td><td>$0.823</td></tr><tr><td>Litecoin (LTC)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+9.08%</td><td>$121.21 </td></tr></tbody></table></figure>



The global cryptocurrency market capitalization stood at $3.77 trillion, gaining 1.01% in the last 24 hours.



<h2 class="wp-block-heading">Stocks Recover After Friday Blues</h2>



Stocks bounced back on Monday after Friday's sell-off. The Dow Jones Industrial Average rose 585.06 points, or 1.34%, to close at 44,173.64. The S&amp;P 500 gained 1.47% to end at 6,329.94. The tech-heavy Nasdaq Composite spiked 1.95% to settle at 21,053.58.



Stocks closed last week in the red, precipitated by the <a href="https://www.benzinga.com/markets/equities/25/08/46809585/fed-interest-rates-trump-powell-jobs-data-wall-street">worse-than-expected July jobs report</a> and President Donald Trump imposing a new wave of <a href="https://www.benzinga.com/markets/macro-economic-events/25/07/46781583/trump-slaps-35-tariff-on-canadian-goods-hits-68-other-nations-with-new-trade-war-amid-fentanyl-security-china-tensions">import duties on key trading partners</a>.



<h2 class="wp-block-heading">Analyst Sees Big Bull Run For Bitcoin, Altcoins</h2>



Widely followed cryptocurrency analyst and trader Bob Loukas noted Bitcoin's retest of its May cycle high, suggesting a potential 60-day cycle peak.



"Most cycles have retests or lower lows, but this stage of the bull market don&#8217;t count on them," the analyst said. "Hoping for a strong push to a late Aug high, followed by the Weekly cycle decline into Sept."



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> retested the May Cycle high. That might be it for this 60-day Cycle. Most cycles have retests or lower lows, but this stage of the bull market don&#39;t count on them. Hoping for a strong push to a late Aug high, followed by the Weekly cycle decline into Sept. <a href="https://t.co/sXt40OW900">pic.twitter.com/sXt40OW900</a>&mdash; Bob Loukas &#x1f5fd; (@BobLoukas) <a href="https://twitter.com/BobLoukas/status/1952411621554544716?ref_src=twsrc%5Etfw">August 4, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Another popular commentator, Michaël van de Poppe, said the market was looking "absolutely magnificent" for a big bull run for Bitcoin and altcoins, but stressed the significance of breaking a significant resistance around the early $115,00s.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I think the markets are looking absolutely magnificent for a big bull run in the second half of this year for <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> and <a href="https://twitter.com/hashtag/Altcoins?src=hash&amp;ref_src=twsrc%5Etfw">#Altcoins</a>. However, let&#39;s crack this resistance first and then we&#39;ll be even happier. Wouldn&#39;t be surprised with a final sweep before we go up. <a href="https://t.co/UcSmcsDYBC">pic.twitter.com/UcSmcsDYBC</a>&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1952454491623792688?ref_src=twsrc%5Etfw">August 4, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Photo Courtesy: Travis Wolfe on Shutterstock.com



Read Next:&nbsp;&nbsp;&nbsp;&nbsp;



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/news/entertainment/25/08/46844019/coinbase-ceo-brian-armstrong-has-a-7-hour-playlist-with-one-song-on-repeat-helps-me-do-deep-focused-work">Coinbase CEO Brian Armstrong Has A 7-Hour Playlist With One Song On Repeat: &#8216;Helps Me Do Deep Focused Work&#8217;</a></li>
</ul>

Bitcoin Trades Flat; Ethereum, Dogecoin Spike: Market Looking 'Absolutely Magnificent' For Crypto Bull Run, Says Analyst

Many investors and entrepreneurs <a href="https://www.benzinga.com/markets/earnings/25/07/46684547/spotify-user-base-grows-but-profitability-concerns-linger">listen to music </a>throughout their daily routines. Coinbase Global Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) CEO Brian Armstrong sometimes listens to the same song over and over, thanks to a Spotify Technology (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) playlist.



How is COIN trading now? <a href="https://www.benzinga.com/quote/COIN">Track it here.</a>



What Happened: Armstrong, who once<a href="https://www.benzinga.com/markets/cryptocurrency/21/04/20660641/coinbase-ceo-brian-armstrong-on-his-companys-beginnings-satoshis-whitepaper-sleeping-in-of"> slept in the Coinbase office </a>during the early days, has helped transform the cryptocurrency trading platform company into one of the largest in the sector today.



Coinbase is often looked to as a leader in the cryptocurrency sector and a soaring price for Bitcoin over the last year has put companies such as Coinbase in the spotlight again. Armstrong is among the cryptocurrency executives helping push regulations for the sector in the U.S.



One of the secret weapons for Armstrong may be his listening habits. A <a href="https://panamaplaylists.com/">leak </a>of Spotify playlists revealed the Coinbase CEO has a playlist that contains the same song 60 times.



"From the Spotify leak — I've been exposed for having a 7-hour-long playlist with only one song on it. It helps me do deep focused work, don't ask me why," Armstrong <a href="https://x.com/brian_armstrong/status/1951063905448632382">tweeted</a>.



The Coinbase CEO appears to have confirmed the playlist exists and is used for his key work.



The song used in Armstrong's playlist is "Long Way Home" from music producer and DJ Gareth Emery. The song comes in at 7 minutes 25 second long, making the playlist around 7.5 hours long. &nbsp;



Emery took to social media to show his appreciation for Armstrong.



"I love this! Back when I wrote it, everyone thought 7 minutes was way too long and it needed cutting down — glad I kept it exactly as it was, and love seeing that it's still out there doing good in the world!" Emery <a href="https://x.com/garethemery/status/1951121724726190189">tweeted</a>.



Read Also: <a href="https://www.benzinga.com/crypto/25/08/46821810/coinbase-ceo-brian-armstrong-defends-uk-ad-ban-if-you-cant-say-it-then-there-must-be-a-kernel-of-truth-in-it">Coinbase CEO Brian Armstrong Defends UK-Ad Ban: &#8216;If You Can&#8217;t Say It, Then There Must Be A Kernel Of Truth In It&#8217;</a>



Why It's Important: The Panama Playlists provides top song picks for playlists made by CEOs and politicians.



Some names on the list, such as Armstrong, have confirmed the leak as true.



The report has put a spotlight on Spotify's privacy settings that allow users to have their playlists made public for friends and others.



Armstrong has 10 public playlists according to the report. Other jams loved by the Coinbase CEO include:



<ul class="wp-block-list">
<li>"Two Suns In The Sky" by Davi</li>



<li>"Greatest Love of All" by Whitney Houston</li>



<li>"SOL" by Pryda</li>



<li>"Wait For It" by the Original Broadway cast of Hamilton</li>



<li>"Shallow" by Lady Gaga and Bradley Cooper</li>
</ul>



When it comes to listening habits, there could have been more embarrassing song choices and playlist titles than the ones that belong to Armstrong. For those bullish on Bitcoin, perhaps the 7:25 &#8220;Long Way Home&#8221; can keep some rallies going in the future.



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/earnings/25/07/46776113/coinbase-q2-earnings-highlights-sales-eps-miss-40-slide-in-trading-volume">Coinbase Q2 Earnings Highlights: Sales, EPS Miss, 40% Slide In Trading Volume</a></li>
</ul>



Photos: Spotify via Shutterstock, Brian Armstrong, Courtesy Coinbase

Coinbase CEO Brian Armstrong Has A 7-Hour Playlist With One Song On Repeat: 'Helps Me Do Deep Focused Work'

Cryptocurrency markets are rallying on Monday, led by notable Ethereum outperformance.



<figure class="wp-block-table"><table class="has-fixed-layout"><tbody><tr><td>Cryptocurrency</td><td>Ticker</td><td>Price</td></tr><tr><td>Bitcoin</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>$114,668</td></tr><tr><td>Ethereum</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</td><td>$3,680.47</td></tr><tr><td>Solana</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)</td><td>$165.72</td></tr><tr><td>XRP</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>)</td><td>$3.05</td></tr><tr><td>Dogecoin</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</td><td>$0.2055</td></tr><tr><td>Shiba Inu</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>)</td><td>$0.00001237</td></tr></tbody></table></figure>



Notable Statistics:



<ul class="wp-block-list">
<li>IntoTheBlock data shows Bitcoin and Ethereum large transaction decreased by 0.1% and grew 3.97%, respectively. Daily active addresses dropped by 10.4% and increased 3.9%, respectively.</li>



<li>Coinglass data shows 85,818 traders were liquidated in the past 24 hours for $234.22 million.</li>



<li>The top gainers in the past 24 hours include MemeCore (CRYPTO: M), Mantle (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">MNT</a>) and Litecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/ltc/usd">LTC</a>).</li>
</ul>



Notable Developments:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/08/46832921/sharplink-ups-ethereum-bets-closes-in-on-500000-eth-holdings">SharpLink Ups Ethereum Bets, Closes In On 500,000 ETH Holdings</a></li>



<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/08/46831607/bitcoin-mining-with-nuclear-energy-french-lawmakers-are-considering-it">Bitcoin Mining With Nuclear Energy? French Lawmakers Are Considering It</a></li>



<li><a href="https://www.benzinga.com/crypto/25/08/46821810/coinbase-ceo-brian-armstrong-defends-uk-ad-ban-if-you-cant-say-it-then-there-must-be-a-kernel-of-truth-in-it">Coinbase CEO Brian Armstrong Defends UK-Ad Ban: &#8216;If You Can&#8217;t Say It, Then There Must Be A Kernel Of Truth In It&#8217;</a></li>



<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/08/46825980/vandalism-against-satoshi-nakamoto-statue-sparks-protest-you-can-steal-our-symbol-but-you-will-never-be-able-to-steal-our-souls">Vandalism Against Satoshi Nakamoto Statue Sparks Protest: You Can Steal Our Symbol, But You Will Never Be Able To Steal Our Souls&#8217;</a></li>



<li><a href="https://www.benzinga.com/crypto/25/08/46823971/how-coinbase-robinhood-circle-could-benefit-from-the-secs-new-project-crypto">How Coinbase, Robinhood, Circle Could Benefit From The SEC&#8217;s New &#8216;Project Crypto&#8217;</a></li>
</ul>



 Trader Notes: Michael van de Poppe notes that while Bitcoin has broken to the upside, it's still struggling at a major resistance level, with no clear trend reversal confirmed yet.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Good break upwards, however, <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> is still stagnating at this crucial resistance level. There&#39;s no confirmation of a trend reversal as of yet. <a href="https://t.co/yaTwDcwIFd">pic.twitter.com/yaTwDcwIFd</a>&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1952410308020212173?ref_src=twsrc%5Etfw">August 4, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Bob Loukas highlights that BTC has retested its May cycle high, potentially marking the peak of this 60-day cycle. 



While lower lows or retests are common in cycles, he notes they become less predictable in advanced bull markets. 



His outlook suggests a strong rally toward a late August high, followed by a cycle decline into September.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> As said before, this move to the downside wasn't necessarily unexpected. Bounced off pretty strong, but didn't hit the demand zone yet. Still believe August is a choppy month, even though this move came quicker than expected. Whether we follow the green or red scenario in… <a href="https://t.co/85depkQq8d">pic.twitter.com/85depkQq8d</a>&mdash; Andrew Crypto (@AndrewCryptoHQ) <a href="https://twitter.com/AndrewCryptoHQ/status/1952368634040385738?ref_src=twsrc%5Etfw">August 4, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Andrew Crypto <a href="https://x.com/AndrewCryptoHQ/status/1952368634040385738">explains</a> that Bitcoin's recent dip wasn't surprising and was followed by a strong bounce, though it still hasn't tapped into the key demand zone. 



He expects continued chop through August, with a move toward the supply zone likely regardless of whether BTC follows a bullish or bearish short-term path.



Rekt Capital <a href="https://x.com/rektcapital/status/1952402162564444537">points</a> out that after completing a full fill of the Daily CME Gap, Bitcoin is now trying to reclaim higher ground. The crucial level to watch is $116,000, which marks the top of the gap and a potential trigger for further upside.



Read Next:&nbsp;



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/08/46829813/bitcoin-rebounds-above-115000-what-does-technical-analysis-say-about-its-next-move">Bitcoin Rebounds Above $115,000: What Does Technical Analysis Say About Its Next Move?</a></li>
</ul>



Image: Shutterstock

Bitcoin Holds Steady As Ethereum, XRP, Dogecoin Lead Altcoin Rally

U.S. stocks bounced back sharply Monday, recovering from Friday's sell-off triggered by renewed concerns over<a href="https://www.benzinga.com/markets/economic-data/25/08/46792479/july-nonfarm-payrolls-trump-powell-labor-market"> a weakening labor market.</a>



<ul class="wp-block-list">
<li>SPY is rallying today. <a href="https://www.benzinga.com/quote/SPY">Track it now here.</a></li>
</ul>



Despite the softer jobs data, investors found fresh optimism in rising expectations for Federal Reserve rate cuts. Markets are now pricing in an 88% chance of a 25-basis-point cut in September, with a 62% probability of another cut in October.



The Nasdaq 100 climbed 1.8%, trimming Friday's 2% loss, while the S&amp;P 500 rose 1.4% after falling 1.6%.



On the trade front, President Donald Trump threatened further tariffs on India, accusing the country of reselling discounted Russian oil at a profit on global markets.



Palantir Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>) — the S&amp;P 500's top-performing stock this year — rose 3.7% ahead of its earnings report due after the close.



The U.S. dollar held steady after Friday's steep 1.4% drop, its worst session in nearly four months. Treasury yields continued to slide, with 30-year yields touching a one-month low at 4.79%.



Gold extended gains on lower yields and tariff fears, up 0.5% to $3,370 per ounce, while silver added 0.8% to $37.32.



Oil dropped 1.6% after OPEC+ confirmed a widely anticipated production boost of 547,000 barrels per day starting in September.



Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) edged up 0.6% to $115,000.



<h1 class="wp-block-heading">Monday&#8217;s Performance In Major U.S. Indices, ETFs</h1>



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><tbody><tr><td>Major Indices</td><td>Price</td><td>1-day %</td></tr><tr><td>Nasdaq 100</td><td>23,170.16</td><td>1.8%</td></tr><tr><td>Russell 2000</td><td>2,201.90</td><td>1.7%</td></tr><tr><td>S&amp;P 500</td><td>6,322.52</td><td>1.4%</td></tr><tr><td>Dow Jones</td><td>44,116.19</td><td>1.2%</td></tr></tbody></table><figcaption class="wp-element-caption">Updated at 12:40 p.m. ET</figcaption></figure>



According to&nbsp;<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent&amp;t=be2bearmibe3na1">Benzinga Pro</a>&nbsp;data:



<ul class="wp-block-list">
<li>The&nbsp;Vanguard S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOO#NYSE">VOO</a>) rose 1.4% to $579.32.</li>



<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) rose 1.3% to $441.15.</li>



<li>The tech-heavy&nbsp;Invesco QQQ Trust Series&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>)&nbsp;soared 1.7% to $563.37.</li>



<li>The&nbsp;iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) rose 1.7% to $218.64.</li>



<li>The&nbsp;Technology&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) outperformed, up 2%; the&nbsp;Energy&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) lagged, down 0.2%.</li>
</ul>



<h2 class="wp-block-heading">Monday&#8217;s Stock Movers</h2>



<ul class="wp-block-list">
<li>Idexx Laboratories Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IDXX#NASDAQ">IDXX</a>) soared 26% after beating Street&#8217;s estimates on both earnings and revenue last quarter. </li>



<li>Other stocks reacting to earnings reports included Tyson Foods, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSN#NYSE">TSN</a>), up 4.5%; Wayfair Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/W#NYSE">W</a>), up 11.6% and ON Semiconductor Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ON#NASDAQ">ON</a>), down 11.4%.</li>



<li>Berkshire Hathaway Inc. B (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) sank 3%, reaching late January&#8217;s lows, after the company reported a 4% year-over-year decline in second-quarter operating profit, which fell to $11.2 billion. The company also disclosed a $3.76 billion writedown on its stake in Kraft Heinz Co. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KHC#NASDAQ">KHC</a>) in the second quarter.</li>



<li>Joby Aviation Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JOBY#NYSE">JOBY</a>) surged 20.5% after announcing plans to acquire Blade Air Mobility in a deal valued at up to $125 million, expanding its electric air taxi footprint.</li>



<li>CommScope Holding Co. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COMM#NASDAQ">COMM</a>) exploded 88% following a report from The Wall Street Journal that Amphenol Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APH#NYSE">APH</a>) is close to acquiring its broadband and cable business for $10.5 billion.</li>
</ul>



Read Now:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/large-cap/25/08/46830614/vix-august-volatility-seasonal-strategy">Wall Street&#8217;s Fear Gauge Is Back–And Buying It Might Save Your Summer</a> Photo: Shutterstock<a href="https://www.benzinga.com/markets/large-cap/25/08/46830614/vix-august-volatility-seasonal-strategy"> </a></li>
</ul>

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