SDIG News & Events

U.S. regulators said they are prepared to use existing authority to advance crypto regulation after the Clarity Act stalled, though SEC Chair Paul Atkins said legislation remains preferable and is still expected to pass this year, The Wall Street Journal's Dylan Tokar reports. The delay followed Coinbase's (COIN) withdrawal of support over stablecoin provisions, prompting regulators to coordinate oversight through a forthcoming agreement between the SEC and CFTC. Publicly traded companies in the space include Bit Digital (BTBT), Bitfarms (BITF), Circle Internet (CRCL), Core Scientific (CORZ), Greenidge Generation (GREE), Mara Holdings (MARA), Riot Platforms (RIOT), Strategy (MSTR), Stronghold Digital Mining (SDIG) and TeraWulf (WULF).

Next Monday, the White House will meet with executives from the banking and crypto sectors to go over a possible path forwrard for major crypto legislation, Reuters' Hannah Lang reports, citing three people familiar with the matter. The summit, which will be hosted by the White House's crypto council, will include executives from a number of trade groups and will center how on any potential legislation treats interest and other rewards crypto firms can give out on customer holdins of stablecoins, the author notes. Publicly traded companies in the cryptocurrency space include Bit Digital (BTBT), Bitfarms (BITF), Circle Internet (CRCL), Coinbase (COIN), Core Scientific (CORZ), Greenidge Generation (GREE), Mara Holdings (MARA), Riot Platforms (RIOT), Strategy (MSTR), Stronghold Digital Mining (SDIG) and TeraWulf (WULF). Publicly traded companies in the banking space include Bank of America (BAC), Citi (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC).

TD Cowen points to the post by Coinbase (COIN) CEO Armstrong withdrawing support for crypto market structure bill debate by the Senate Banking committee as likely derailing market structure legislation in the current Congress, which is "negative for crypto and positive for banks". Banks want to prevent platforms from paying rewards on stable coins left with them, but a delay is still a win, the analyst tells investors in a research note. This would be the natural bill for the President to try to use to impose a cap on credit card interest rates or to regulate credit card interchange, and ff the bill does not advance, then those policies cannot be added to it. Publicly traded companies in the space include Bit Digital (BTBT), Bitfarms (BITF), Circle Internet (CRCL), Coinbase (COIN), Core Scientific (CORZ), Greenidge Generation (GREE), Mara Holdings (MARA), Riot Platforms (RIOT), Strategy (MSTR), Stronghold Digital Mining (SDIG) and TeraWulf (WULF).

Catch up on the top industries and stocks that were impacted, or were predicted to be impacted, by the comments, actions and policies of President Donald Trump with this daily recap compiled by The Fly.U.S. TECH FORCE:The U.S. Office of Personnel Management, in coordination with the Office of Management and Budget, the General Services Administration, the White House Office of Science Technology and Policy, and agency leaders across the administration, on Mondaythe establishment of the United States Tech Force, a new, cross-government program to recruit top technologists to modernize the federal government. "President Trump has made clear that securing America's leadership in AI is the paramount national challenge of this generation. The president's AI Action Plan focuses on unleashing private sector innovation while also recognizing the federal government must have the technical talent to lead in technology modernization. Tech Force is a critical aspect of this directive - a government-wide effort to surge teams of top engineers, data scientists, and technology leaders to tackle the government's most complex and large-scale challenges and deliver on the president's vision. In collaboration with leading private-sector technology companies, participants will receive world-class technical training and work closely with senior managers sourced directly from industry."OPM announced the initial private sector partners for Tech Force: Adobe, Amazon Web Services, AMD, Anduril, Apple, Box, C3.ai, Coinbase, Databricks, Dell Technologies, Docusign, Google Public Sector, IBM, Meta, Microsoft, Nvidia, OpenAI, Oracle, Palantir, Robinhood, Salesforce, SAP, ServiceNow, Snowflake, Synopsys, Uber, Workday, xAI, and Zoom.MARIJUANA RECLASSIFICATION:President Donald Trump says he is looking at reclassifying marijuana "very strongly," according to Bloomberg. Publicly traded companies in the cannabis space include Aurora Cannabis, CV Sciences, Canopy Growth, Cronos Group, Goodness Growth, Green Thumb Industries, IGC Pharma, Tilray, Trees Corporationand Trulieve Cannabis.CRYPTO:After Trump returned to the White House, the SEC eased up on or dismissed more than 60% of ongoing crypto cases, including ones about Trump-tied companies, moving to pause litigation, lessen penalties or outright dismiss the cases, The New York Times' Ben Protess, Andrea Fuller, Sharon LaFraniere, and Seamus Hughes. Under Trump, SEC dismissals came at a "far higher rate" for crypto firms than other cases, the report says. Publicly traded companies in the space include Bit Digital, Bitfarms, Circle Internet, Coinbase, Core Scientific, Greenidge Generation, Mara Holdings, Riot Platforms, Strategy, Stronghold Digital Miningand TeraWulf.ECONOMIC ADVISOR:Intelon Mondaysenior leadership appointments in three core functions - government affairs, marketing & communications and advanced technology strategy. Robin Colwell has joined Intel as senior vice president of government affairs, where she will lead the company's global engagement with policymakers, regulators, and industry leaders. Colwell most recently served as deputy assistant to President Donald J. Trump and deputy director of the National Economic Council, developing Administration policies across all sectors of the U.S. economy. Robin's appointment follows that of James Chew as vice president of Intel Government Technologies. Annie Shea Weckesser has been appointed senior vice president and chief marketing and communications officer. She will lead Intel's newly integrated global marketing and communications organization, unifying corporate reputation, brand strategy, and market engagement. Weckesser joins Intel from SambaNova, where she served as chief marketing officer. In addition to his current role as chief of staff to the CEO, Pushkar Ranade will also serve as interim chief technology officer to help formulate the company's advanced technology strategy and to consolidate and develop critical emerging technologies, such as quantum computing, advanced interconnects, and novel materials within the new CTO Office.WHITE HOUSE DECISION:Many competitors to Nvidiawere shocked that soft-spoken CEO Jensen Huang was able to convince the White House to allow the company to sell its H200 chips to China, Joe Miller, Demetri Sevastopulo, and Michael Acton of The Financial Times. "I think game recognizes game," a person familiar with the company's strategy told the Times. Until recently, Nvidia had a threadbare lobbying operation in Washington and Haung was initially skeptical of the "value proposition" of courting Trump after his reelection, a person familiar with the company's strategy said. After the White House restricted the sale of H20 chips to China, Nvidia was drawn into politics, with the company joining a consortium and Haung meeting with Trump privately at least six times this year.