New Strategy $1.92 Billion BTC Purchase + Hut 8 Partners with Eric Trump to Launch American Bitcoin Mining Firm
Crypto Landscape Shifts as Saylor Expands Bitcoin Holdings, Trump Family Joins Mining, Regulatory Eases, and Industry Faces Settlements.
Because Bitcoin
March 28, 2025
Michael Saylor’s Strategy Expands Bitcoin Holdings to 528,185 BTC with $1.92 Billion Purchase
Strategy (formerly MicroStrategy), led by Michael Saylor, has added 22,048 BTC to its holdings, bringing the total to 528,185 BTC, acquired for $1.92 billion at an average price of $86,969 per coin. Despite a slight dip in Bitcoin’s market price, Strategy has maintained its aggressive acquisition strategy, now holding BTC valued at $35.63 billion. The company is also planning to raise $21 billion through preferred stock to further bolster its Bitcoin portfolio.
Trump Pardons BitMEX Co-Founders Amid Pro-Crypto Shift in Administration
Former President Donald Trump has pardoned BitMEX co-founders Arthur Hayes, Benjamin Delo, and Samuel Reed, who pled guilty in 2022 to violating the Bank Secrecy Act for failing to implement anti-money laundering measures. Each had paid a $10 million fine. The pardon follows a broader shift in the administration toward crypto-friendly policies, with several regulatory actions against major crypto firms being dropped or settled in recent months. BitMEX recently agreed to a $100 million settlement for past violations.
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SEC Drops Investigation Into ‘Hawk Tuah’ Meme Coin as Haliey Welch Moves On
The SEC has closed its investigation into Haliey Welch’s involvement with the failed HAWK meme coin without issuing findings or monetary sanctions. Welch, who launched the token in December before it collapsed by 93% within minutes, said she fully cooperated with authorities and is now free to pursue crypto or securities-related ventures. While a civil lawsuit continues against HAWK’s creators, Welch is not named in the case. She has stated she won’t promote the coin again and is now set to be featured in an upcoming documentary.
Hut 8 Partners with Eric Trump to Launch American Bitcoin Mining Firm
Hut 8 has teamed up with Eric Trump to form American Bitcoin, a new mining company spun out of American Data Centers. The move signals deeper Trump family involvement in crypto, aligning with Donald Trump’s pro-crypto stance. Hut 8 retains an 80% stake and will serve as the company’s exclusive infrastructure partner. American Bitcoin aims to mine BTC and build a strategic reserve, with plans for a future public listing. Hut 8’s stock jumped 6.4% premarket following the announcement.
Galaxy Digital Settles Terra LUNA Case With NY Attorney General for $200M
Galaxy Digital has agreed to a $200 million settlement with the New York Attorney General over its handling of the collapsed Terra LUNA cryptocurrency. The investigation found that Galaxy misrepresented its involvement with LUNA while selling large amounts of the token without disclosure. CEO Michael Novogratz promoted LUNA publicly while the firm offloaded holdings, netting over $100 million before the collapse. As part of the settlement, Galaxy must implement policies on public statements regarding crypto investments.
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FDIC and CFTC Ease Crypto Regulations as US Banks Gain More Freedom
The FDIC has rescinded a rule requiring banks to seek prior approval for crypto-related activities, allowing institutions to engage in digital asset services more freely. Simultaneously, the CFTC has ruled that digital asset derivatives will be treated like traditional derivatives, eliminating regulatory uncertainty. These shifts align with a broader pro-crypto stance under President Trump’s administration, with major exchanges like Coinbase and Kraken expanding their derivatives offerings in response to the easing regulatory climate.
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