Today in Crypto: The White House is considering withdrawing its support for the crypto market structure bill after Coinbase made a similar move. Crypto bank Anchorage Digital is planning a $400 million capital increase and a possible IPO next year. Meanwhile, shares of Riot Platforms rose after the Bitcoin miner said it sold BTC to fund an expansion in Texas.
White House threatens to withdraw support for crypto bill after Coinbase standoff: report
The White House is considering withdrawing its support for the crypto market structure bill after crypto exchange Coinbase made a similar move, Fox Business reporter Eleanor Terrett said, citing a source close to the Trump administration.
In a Sunday post
“The White House is said to be angry about Coinbase’s “unilateral” action on Wednesday, which it apparently was not informed of in advance, calling it a “rugger” against the White House and the rest of the industry,” she wrote.
The source added that the government may abandon the bill entirely unless Coinbase resumes negotiations and agrees to a compromise on stablecoin yield provisions that meets banking interests. “This is ultimately President Trump’s bill, not Brian Armstrong’s,” the source said, according to Terrett.
The White House is considering withdrawing support for the crypto bill. Source: Eleanor Terrett
Crypto bank Anchorage Digital plans $400 million raising and possible IPO: report
Institutional crypto platform Anchorage Digital is looking to raise hundreds of millions of dollars in fresh capital as it eyes a potential initial public offering.
The raise would be between $200 million and $400 million, while a possible initial public offering is planned sometime next year, a Bloomberg report said Friday, citing people familiar with the matter who spoke on condition of anonymity.
Anchorage's subsidiary, Anchorage Digital Bank National Association, became the first federally chartered crypto bank in 2021 and is now well positioned to lead stablecoin issuance and related services following the passage of the GENIUS Act in July.
Anchorage CEO Nathan McCauley said in September that he plans to double the company's stablecoin team next year to accommodate the expected boom in digital dollars.
Source: Bloomber
“2025 was our year of greatness. We made a number of acquisitions, formed key partnerships and launched new businesses such as stablecoin issuance to solidify our leadership position in the institutional crypto space,” an Anchorage spokesperson told Bloomberg.
One of these partnerships included Tether, the issuer of the largest stablecoin USDT. The two companies announced plans to launch a USAT token in the US in September.
Riot Platforms shares rise 11% after Bitcoin sale funded Texas deal
Shares of Riot Platforms rose more than 11% after the crypto miner said it sold Bitcoin to finance a land acquisition in Texas.
In a statement Friday, Riot said the $96 million deal for 200 acres of land in Rockdale, Texas, was funded entirely by the sale of approximately 1,080 Bitcoin (BTC). The miner also signed a data center lease and service agreement with semiconductor company Advanced Micro Devices (AMD), initially providing 25 megawatts (MW) of “critical IT load capacity.”
“These results mark a pivotal moment that solidifies Riot’s position as a leading data center developer, less than twelve months since we began our formal process to evaluate our assets for AI/HPC deployment,” said Jason Les, CEO of Riot.
Riot said the agreement, which has an initial 10-year term, could bring the company about $311 million in revenue, with a potential of $1 billion if three five-year extensions are taken. The company's shares on the Nasdaq under the ticker symbol RIOT rose to $18.80 on the announcement, up 11% in early trading Friday.
The Texas deal followed Riot announcing last week that it had sold 1,818 BTC in December as part of a strategy shift from mining the cryptocurrency to using its data center infrastructure for other applications, including artificial intelligence. The company reported holding 18,005 BTC as of December 31, worth more than $17 billion at the time of publication.
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