Newscasts - Crypto Weekly: the Trumps dominate
28/08/2025 14:35
Click the following link to watch video: https://share.newscasts.refinitiv.com/link?entryId=1_ohxh2b7x&referenceId=tag:reuters.com,2025:newsml_RW031628082025RP1_930&pageId=Newscasts Source: 'Reuters - Business videos' Description: From plans for American Bitcoin to why global stock exchanges are worried about tokenised stocks, Ciara Lee rounds up the crypto news of the week. Short Link: https://refini.tv/47OTHJ1 Video Transcript: From American Bitcoin to Trump's meme coin, there's one family dominating. This is Crypto Weekly. American Bitcoin, the bitcoin miner backed by Donald Trump's two sons, has locked in crypto and traditional investors to back an all-stock merger. The company's largest investor said it will allow the firm to soon start trading on the NASDAQ. The unlisted firm's merger with Gryphon Digital Mining is set to be finalized shortly. With a goal to start trading in early September. That was according to Asher Genoot, the CEO of Hut 8, which holds 80% of American Bitcoin. The company's co-Founder Eric Trump, his brother Donald Trump Jr. and Hut 8, will own a combined 98% of the newly formed entity. Staying with the Trumps, digital asset manager Canary Capital has filed to list an exchange-traded fund tracking the price of the Trump meme coin. The crypto token's fortunes intertwine with the US President. And the ETF could let investors tap into a politically charged meme coin. It would allow Canary to package sentiment-driven speculation into a regulated investment product. A group representing the world's biggest stock exchanges has called on securities regulators to clamp down on so-called tokenized stocks. They argue that the blockchain-based tokens create new risks for investors and could harm market integrity. That was according to a letter seen by Reuters. Tokenized equities are blockchain-based tokens created to represent shares in the company. The tokens represent ownership of the securities, but investors do not become shareholders.