American Bitcoin, backed by Trump family, continues aggressive Bitcoin treasury strategy
American Bitcoin, a mining company approximately 20% owned by Eric Trump and Donald Trump Jr., has been aggressively accumulating Bitcoin through mining and market purchases. By mid-2026, American Bitcoin's Bitcoin holdings exceeded 8,000 BTC, making it one of the larger corporate Bitcoin treasury holders in the industry. In the first quarter of 2026 alone, the firm mined approximately 817 BTC and purchased about 803 BTC at an average price near $76,000 per coin. The company increased its Bitcoin holdings from roughly 5,400 BTC at the end of 2025 to about 7,021 BTC before mid-2026. To support this expansion, American Bitcoin raised $220 million in June 2025, netting approximately $215 million after costs for buying Bitcoin and upgrading mining equipment. American Bitcoin follows a strategy similar to MicroStrategy by combining Bitcoin purchases with mining operations to accumulate Bitcoin. Mining Bitcoin generates coins at a cost typically below market price, allowing American Bitcoin to create a natural margin on its operations. When the company has excess capital, it accelerates Bitcoin accumulation by buying more on the open market. The company's aggressive accumulation strategy positions it as one of the more active corporate Bitcoin treasury holders in the ecosystem. Every Bitcoin moved into a corporate treasury is effectively removed from circulating supply, with companies like American Bitcoin rarely selling their holdings. American Bitcoin trades on NASDAQ under the ticker ABTC and has a political dimension due to the Trump family's ownership stake.
Hashdex to shut down $14.7M Bitcoin ETF DEFI
Hashdex announced it will close and liquidate its US-listed Bitcoin ETF, DEFI, due to insufficient assets and trading activity to remain viable. As of July 30, DEFI managed about $14.7 million, ranking it among the smaller US spot Bitcoin ETFs in terms of asset base. The fund's net asset value was $71.32 per share, with a closing price of $71.15 recorded on July 31. DEFI began holding spot Bitcoin in March 2024, following a conversion from a futures-based product more than two months after SEC approval. Hashdex attributed the closure to factors including DEFI's asset base, trading liquidity, operating expenses, and investor demand. The final trading day for DEFI shares on NYSE Arca will be August 17, which is also the cutoff for new creation orders. After August 17, Hashdex will liquidate the portfolio and distribute remaining proceeds in cash around August 28, subject to Bitcoin price changes. Investors holding shares through liquidation should expect their positions to disappear from brokerage accounts once cash payments are processed. A cash distribution from DEFI may be treated as a taxable disposal depending on individual circumstances, cost basis, and account type. DEFI normally invests at least 95% of its assets in spot Bitcoin, with the remainder in cash, equivalents, and CME-listed Bitcoin futures. The closure of DEFI does not indicate Hashdex's exit from the US crypto ETF market and does not affect its other products like NCIQ. Hashdex's separate Nasdaq CME Crypto Index ETF, NCIQ, held about $206.82 million in net assets as of July 31, with Bitcoin comprising 78% of its portfolio.
Coldcard Bitcoin Theft Continues, Now Estimated Over $114 Million In Total Stolen
Hackers have continued draining Coldcard Bitcoin wallets, with the total amount stolen now estimated to exceed $114 million. A fourth wave of attacks likely began on Sunday evening, according to Alex Thorn from Galaxy Research. The theft persisted throughout the weekend while Coinkite and other Bitcoiners urged Coldcard users to move their funds immediately. Josef Tětek from Trezor posted on X that the largest transaction in the ongoing theft was 51 Bitcoins. Coinkite stated that a firmware bug in Coldcard Mk3 devices, starting with version 4.0.1 in March 2021, caused seed generation to use a weak software pseudorandom number generator. This bug allowed hackers to guess investor seed phrases by bypassing the hardware true random number generator. Engineers at payments company Block investigated the hack and found that hackers used a top blockchain services provider to move the stolen funds. Block has contacted the blockchain services provider and federal authorities with their findings regarding the theft. Coinkite announced it destroyed its remaining Coldcard inventory containing the vulnerable firmware and halted shipments of the product. The company expressed that the last three days have been some of the hardest in its history and acknowledged the severe impact on affected users. On Monday evening in New York, 388.9 Bitcoins worth over $29 million were moved in transactions likely linked to the theft. The hackers initially stole $35 million in Bitcoin from wallets on Thursday before continuing their attacks.
U.S. Jobs, Circle, Galaxy, American Bitcoin earnings: Crypto Week Ahead
Bitcoin started the week just below $63,000, with the U.S. jobs report on Friday as the key macro event influencing its July rebound continuation. A muted rise in U.S. hiring, around 88,000 jobs with unemployment steady at 4.2%, would ease economic slowdown fears without pushing the Fed toward rate hikes. JPMorgan strategist Jay Barry expects the Treasury to maintain regular debt sales, avoiding additional pressure on interest rates and borrowing costs. Binance continues to lead crypto exchanges, expanding beyond spot and derivatives into real-world assets, payments, savings, yield, and financial services. Earnings reports from Circle, Galaxy, Block, and six bitcoin miners are anticipated by traders this week in the crypto sector. BIP-110, a proposal to limit non-financial data on the Bitcoin blockchain, is entering miner-signaling but has less than 3% support currently. With minimal support, BIP-110 is more likely to cause nodes enforcing it to move to a small alternative chain rather than change Bitcoin's main network. Several tokens are scheduled to unlock significant portions of their circulating supply, including Succinct unlocking 116.7% worth $39.3 million on August 5. On August 7, Layer One X plans to unlock 7.4% of its circulating supply valued at $146.9 million, while JTO will unlock 3.9% worth $8.5 million. Coinbase Prime will delist several tokens including IDEX, Loopring, Omni Network, Pirate Nation, and FIS starting August 7. The fintech_devcon conference is scheduled from August 3 to 5 in Denver, Colorado, attracting industry participants and observers.
US hints at more yen intervention: Five things to know in Bitcoin this week
The US and Japan coordinated on yen intervention for the first time since 2011, marking a rare joint operation supporting the yen since 1998. Treasury Secretary Scott Bessent indicated that the FIMA repo facility might be used again to provide dollar liquidity without selling Treasuries. The New York Fed acted as the Treasury's fiscal agent in this intervention, highlighting influence beyond the Federal Reserve's FOMC. Concerns about destabilizing US Treasury markets motivated the US decision to intervene after USD/JPY neared 164 last week. Bitcoin started August around $63,000 as traders considered the impact of a Coldcard wallet hack amid market volatility. US nonfarm payrolls data, due Thursday, is a key focus for crypto and risk asset traders to assess labor market strength. June's nonfarm payrolls were weaker than expected, with only 57,000 jobs added, prompting Bitcoin price increases. Continuum Economics forecasts a July payroll rebound of 120,000 jobs but expects unemployment to rise to 4.3% from 4.2%. President Trump announced a delay in further strikes on Iran, mentioning a potential deal including opening the Hormuz Strait.
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