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Bernstein: USDC growth could restart; sets $140 Circle target

Circle is catching the attention of Wall Street analysts again, with Bernstein arguing that USDC is entering a fresh growth phase that could lift the company’s performance over the next year. In a research note published Monday, the firm said USDC is showing signs of what it called “digital dollar reflation,” after supply jumped by roughly $2 billion in seven days—an apparent turnaround from a six-month period of stagnant or declining growth. Bernstein maintained an Outperform rating on Circle and set a $140 price target , implying around 60% upside from current levels. The stock has reportedly risen about 40% over the past month, underscoring how quickly market sentiment can shift around stablecoin issuance and adoption. Key takeaways Bernstein cited USDC supply increasing by roughly $2 billion in seven days, reversing a prior stretch of flat or falling growth. The firm expects a potential “next phase” for stablecoins to be driven by market momentum, U.S. regulatory clarity, an...
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Coinbase-Linked Group Backs US Midterm Candidates Ahead of Vote

Stand With Crypto, an advocacy group launched by Coinbase in 2023, has endorsed 32 candidates for U.S. House races ahead of the 2026 midterm elections. The group says the move is designed to shape federal digital-asset policy by backing lawmakers it views as credible champions for the sector. In a notice issued Monday, Stand With Crypto framed its candidate slate as part of a broader effort to mobilize “crypto voters,” arguing that digital-asset issues may become more influential in close races where candidates seek support beyond traditional political constituencies. The organization’s executive director, Mason Lynaugh, said the timing reflects what he called an inflection point for crypto policy in Washington. Key takeaways Stand With Crypto endorsed 32 House candidates for the 2026 midterms based on their stated digital asset policy views. The group is targeting competitive races where it believes its influence is most likely to matter for outcomes. Stand With Crypto argues cr...
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Bitcoin Near $80K as 24-Hour Crypto Short Liquidations Top $220M

Bitcoin reclaimed the $80,000 level on Monday, pushing through a key psychological and technical milestone after last week’s sharp rally drew fresh momentum from traders. The breakout marked BTC’s first trade above $80,000 since mid-May, with price up roughly 3% at the time of reporting before easing after the European session. As the market tested higher levels, activity on leveraged venues also picked up—most notably in short liquidations—underscoring how crowded positions may have been forced to unwind during the advance. Key takeaways BTC/USD moved above $80,000 for the first time since May 15, ending a more than three-month absence from that range. CoinGlass data showed crypto short liquidations passed $220 million over the prior 24 hours as Bitcoin approached the $80,000 mark. Support appears to be clustering around the mid-$70,000s, with a bid liquidity band centered on $76,700, according to a CoinGlass liquidation heatmap. Analyst Rekt Capital said the “real test” will ...
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Strive Acquires 1,110 BTC for $81.5M, ASST Shares Jump 11%

Strive Asset Management has made its latest Bitcoin purchase, according to a filing with the U.S. Securities and Exchange Commission. The Nasdaq-listed company bought 1,110 BTC during the week of Aug. 17 through Aug. 21, spending about $81.5 million in total and bringing its Bitcoin treasury to 21,356 BTC. The purchase price averaged $73,409 per Bitcoin, inclusive of fees and expenses, based on the company’s disclosures. As of the same period, Strive reported that its cash and cash equivalents increased by $17.1 million to $171.9 million, while its Class A shares outstanding rose by 3.65 million to 79.89 million. Key takeaways Strive purchased 1,110 BTC for about $81.5 million between Aug. 17 and Aug. 21, per its SEC filing. The average all-in cost was $73,409 per Bitcoin, with Strive adding to a total holding of 21,356 BTC. Bitcoin was trading around $79,000 on Monday, roughly 8% above Strive’s reported average purchase price for the latest buys. Company data cited by BitcoinT...
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Crypto Advocacy Groups Challenge Illinois Digital Asset Tax in Court

Two major crypto advocacy groups, the Crypto Council for Innovation (CCI) and the Blockchain Association (BA), have filed a lawsuit challenging Illinois’ new 0.2% tax on cryptocurrency transactions. The measure is expected to take effect in January 2027 and is designed to tax crypto users based on transaction volume rather than income. The legal challenge, filed Friday in Illinois’ Circuit Court for the Seventh Judicial Circuit in Sangamon County, argues the tax violates multiple constitutional and statutory protections, including provisions related to due process and interstate commerce. Key takeaways CCI and BA filed suit in Sangamon County against Illinois officials over the state’s 0.2% digital asset “privilege tax.” The groups say the law is constitutionally problematic, including arguments that it is unconstitutionally vague and risks duplicative taxation. Illinois enacted the tax in June as part of its fiscal year 2027 budget, with enforcement anticipated to begin in Janua...
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Bitmine Keeps 14-Month ETH Accumulation Pace as Ether Tops $2.5K

Bitmine Immersion Technologies, an NYSE-listed company run by Tom Lee, disclosed that it continued building its Ether treasury last week—adding 32,447 ETH as the token rebounded sharply after an extended decline. The purchase lifts Bitmine’s total Ether holdings to 5,847,611 ETH, according to the company’s Monday update. The latest buying pace keeps Bitmine on a nearly continuous accumulation schedule tied to its stated Ethereum treasury strategy, launched on June 30, 2025. With the firm now staking most of its position, the disclosure also offers a snapshot of how large spot treasuries can swing in value when the market turns. Key takeaways Bitmine bought 32,447 ETH last week, bringing total holdings to 5,847,611 ETH—about 4.8% of Ethereum’s circulating supply. The company says it has acquired ETH every week since June 30, 2025, extending its buying streak to roughly 14 months. Bitmine is about 97% of the way toward its goal of owning 5% of the ETH supply. Of its Ether holding...
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ZondaCrypto CEO Seeks Leniency to Testify on Political Links: Report

Polish prosecutors have reportedly charged Przemysław Kral, the head of the collapsed cryptocurrency exchange Zondacrypto, in connection with an alleged large-scale fraud, and he has started cooperating with investigators, according to reporting from Onet . Onet says Kral is seeking a reduced sentence in exchange for testimony that could include details about how Zondacrypto funding was linked to right-wing political figures in Poland. Prosecutors estimate that Zondacrypto customers lost at least 2.4 billion Polish zlotys (about $650 million), and investigators allege that only part of customer funds was used to buy crypto, while the remainder was moved to private accounts controlled by exchange managers. Key takeaways Przemysław Kral of Zondacrypto has reportedly been charged and is cooperating with Polish prosecutors. Prosecutors estimate customer losses at least 2.4 billion zlotys (about $650 million). Investigators allege Zondacrypto used only a portion of customer funds to p...
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