Trump Bitcoin Mining Firm to Go Public

American Bitcoin to Go Public via Merger with Gryphon Digital Mining, Led by Eric Trump

American Bitcoin, a subsidiary of Bitcoin mining company Hut 8 with ties to Eric Trump, plans to merge with publicly traded Gryphon Digital Mining in a 100% stock-for-stock deal. The merger, expected to close by Q3, will give American Bitcoin’s stockholders approximately 98% ownership of the combined company. The move is designed to scale Bitcoin mining operations and provide independent growth capital while leveraging Hut 8’s infrastructure. American Bitcoin aims to lead the U.S. Bitcoin ecosystem, focusing on efficient mining, a Bitcoin reserve, and unifying the market. Eric Trump will serve as co-founder and chief strategy officer. The deal caused Gryphon Digital Mining’s shares to surge by 173%.

Tether’s USDT Supply Hits Record $150 Billion, Dominates Stablecoin Market

Tether’s total USDT supply has surpassed $150 billion, marking a new milestone for the stablecoin issuer, according to the latest update on its Transparency page. Tether’s growth is fueled by significant profits from its U.S. Treasury holdings, which reached nearly $120 billion in Q1 2025, including indirect exposure through money market funds and reverse repurchase agreements. Tether’s largest blockchain, Tron, has now surpassed Ethereum in USDT circulation, with over $73 billion worth of tokens issued. In comparison, rival Circle has issued around $60 billion in USDC, with other competitors failing to reach $10 billion. Tether’s dominance in the stablecoin market continues to grow.

Top Holders of Trump Meme Coin Qualify for VIP Access to Private Dinner with the U.S. President

The top 25 holders of the $TRUMP meme coin, with an average holding of nearly $4.8 million in TRUMP tokens, qualified for VIP access to an exclusive reception and dinner with President Trump. The rankings were determined based on a time-weighted average of token holdings between April 23 and May 12. The largest holder, “Sun,” had over $19 million worth of tokens. While some holders, including “Noah” and “Top,” qualified despite selling most of their tokens, they managed to retain enough for VIP status due to the time-weighted scoring system. The event, scheduled for May 22, also introduces a new rewards program and a Solana NFT for holders who maintain their leaderboard positions. Despite a drop in token value, interest in the token remains high due to the potential for further rewards.

Coinbase to Join S&P 500 on May 19, Marking Major Milestone for Crypto Industry

Coinbase Global will become the first cryptocurrency firm to join the S&P 500 on May 19, replacing Discover Financial Services. This inclusion into the prestigious index, which tracks the 500 largest publicly traded U.S. companies, is expected to increase demand for Coinbase’s stock as index funds and ETFs must purchase COIN shares. Following the announcement, Coinbase’s stock rose 8.8%. The move marks a significant achievement for both Coinbase and the crypto industry, signaling wider acceptance. Coinbase joins other major Bitcoin holders like Tesla and Block Inc. in the index, highlighting the growing role of crypto in traditional finance.

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