Bitcoin hovered in the mid-$80,000 range over the past week, peaking at $88K while briefly approaching $89K before dipping again.
The price action suggests growing stability, even as markets respond to Trump’s tariff rhetoric. With the Fed holding off on interest rate cuts, bitcoin appears to be consolidating despite broader economic uncertainty.
At his Senate confirmation hearing, Paul Atkins, Trump’s pick to lead the SEC, signaled a clear shift from his predecessor Gary Gensler’s hardline stance on crypto, vowing a more balanced and “principled” regulatory approach.
Atkins criticized Gensler’s aggressive interpretation of securities laws as applying broadly to crypto and emphasized his intent to work with Congress on establishing more straightforward rules. Despite crypto being a top priority in his prepared remarks, questions at the hearing largely avoided the topic.
Meanwhile, critics like Senator Elizabeth Warren questioned Atkins’ impartiality, citing his advisory ties to the digital asset sector.
Warren accused Atkins of “staggeringly bad judgement” regarding his leadership of the SEC in the early 2000s. The hearing briefly touched on crypto-related scandals, including the SEC’s handling of the FTX case, with Senator John Kennedy slamming the agency for inaction.
Crusoe Energy, once known for using stranded natural gas to power Bitcoin mining operations, is exiting the crypto space to focus fully on artificial intelligence infrastructure.
The company has sold its bitcoin mining business to NYDIG, a bitcoin-focused financial services firm.
While Crusoe retains an equity stake in the combined entity, the move marks a strategic shift away from Bitcoin mining, which had once defined the company’s mission.
Crusoe played a notable role in the industry by turning wasted energy into blockchain computation. However, the explosive growth of AI and the demand for high-performance computing have redirected Crusoe’s resources toward building one of the world’s most powerful GPU clusters in Abilene, TX.
GameStop announced that it is looking to raise $1.3 billion through a private offering of convertible senior notes. The company could potentially use the funds for general business purposes, including a significant investment in Bitcoin.
GameStop “expects to use the net proceeds from the offering for general corporate purposes, including the acquisition of bitcoin.”
Following the announcement, shares of GameStop fell more than 6%, as investors reacted to the company’s bold shift toward cryptocurrency. The decision follows a board-approved update to GameStop’s investment policy, positioning bitcoin as a reserve asset—similar to a strategy used by software firm Strategy, formerly known as Microstrategy.
Disclaimer: The views and opinions expressed in this article are solely those of the author and do not necessarily reflect the views of TheStreet Crypto. This piece is for informational purposes only and should not be considered financial or investment advice.
