JUST IN: Tether reports it has profited $2.6 billion so far | Professor Of Information - BTC_CRYPTO on Binance Square

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JUST IN: Tether reports it has profited $2.6 billion so far this year from its bitcoin and gold reserves. 

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JPMorgan Chase: Bitcoin Miners' Profit Hit A New High In July Since The Halving According to the latest report from JPMorgan analysts, benefiting from the rise in Bitcoin prices, Bitcoin miners' average daily block reward income per EH/s reached $57,400 in July, creating the highest monthly profit level since the halving in April 2024. The report states that 10 out of 13 mainstream mining companies outperformed Bitcoin's 8% monthly increase. Despite a 9% rise in mining difficulty this month, and daily revenue and gross profit still declining by 43% and 50% respectively compared to pre-halving levels, miners' overall profitability has significantly rebounded. (Decrypt)

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Bitcoin And Ethereum ETFs See Massive Reverse After Their Record Highs In July US spot crypto exchange-traded funds (ETFs) stumbled into August with nearly $1 billion in combined outflows, ending what had been a strong run in July. Data from SoSoValue revealed that investors pulled $812 million from 12 US-listed Bitcoin ETFs on August 1. This marked the largest single-day withdrawal in five months and the second-worst for this year. Crypto ETFs Shock Outflow Contrasts Historic July Gains And Regulatory Developments Ethereum ETFs, which had recently gained momentum, also saw notable redemptions on the day. In total, $153 million exited the nine Ethereum products, marking their third-largest single-day outflow since launch and ending a 20-day streak of inflows. During the inflow streak, ETH ETFs pulled in more than $5 billion in fresh capital. This reversal comes on the heels of a banner month in July, where the crypto industry had scored significant gains.

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SharpLink Increases Holding By 14,933 ETH With An Average Purchase Price Of $3,560. According to @EmberCN monitoring, the Ethereum micro-strategy company SharpLink has deposited 108 million USDC in the past 7 hours and transferred it to Galaxy Digital. Currently, it has purchased 14,933 ETH (worth approximately $53 million) at a price of $3,550. Since SharpLink Gaming began reserving ETH in the micro-strategy mode from early June until today, it has cumulatively purchased 464,000 ETH, valued at $1.62 billion. The average purchase price is around $3,029, with a current unrealized profit of $214 million.

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Michael Saylor's Vision: Bitcoin as an Unstoppable, Encrypted Movement Michael Saylor eloquently describes Bitcoin as a powerful, intelligent, and rapidly evolving digital entity, likened to a "swarm of cyber hornets" fueled by truth and protected by "encrypted energy." This unique characteristic, where each block enhances the network's intelligence, speed, and resilience, is what distinguishes Bitcoin. It is presented as an unstoppable force, transcending the definition of mere currency to become a significant global movement.

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Eric Trump bull-posts Bitcoin, Ethereum amid tariff jitters As crypto markets wobbled amid renewed tariff fears, Eric Trump reaffirmed his support for Bitcoin and Ethereum, encouraging investors to buy during the current market dip. This wasn’t the first time President Trump’s son voiced confidence in the top two digital assets. In February, amid tariff-fueled economic uncertainty, he called it a great time to buy Ethereum and Bitcoin. Ethereum went on to drop below $1,400, its lowest point since November 2023. But with corporate adoption ramping up and market sentiment improving on positive legislative headlines, ETH rebounded sharply, reclaiming $3,900 earlier this week. The rally has cooled following renewed tariff threats. At press time, Ethereum was trading around $3,500, down 3% over the past 24 hours, while Bitcoin hovered near $113,500, according to CoinGecko. Trump disclosed in December that he held Bitcoin, Ethereum, Solana, and Sui. The family’s crypto involvement also extends to mining. American Bitcoin, a mining firm backed by him and his brother Donald Trump Jr., reported holding 215 BTC. World Liberty Financial, a DeFi venture backed by the Trump family, recently acquired 77,226 ETH at an average price of $3,294 per coin, according to Lookonchain. On-chain data suggests the firm may have sold part of its ETH stack at a loss in April.

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