Bitcoin Falls 3.6% on Iran Fears
Crypto markets are tumbling as oil surges and after U.S. President Donald Trump's primetime address in which he threatened to hit Iran "extremely hard". Stay up on the crypto news that matters with "Crypto Currents," daily from The Fly. Join us at 2 PM ET for your essential briefing on the fast-moving world of cryptocurrency on FlyCast radio.BITCOIN FALLS ON IRAN FEARS:Bitcoindropped on Thursday following indications by Trump that he would intensify strikes against Iran in coming weeks, reducing optimism regarding a rapid end to the war and sending risk assets lower, Bloomberg's Suvashree Ghosh, Sidhartha Shukla and Melos Ambaye reported. Digital assets fell across the board with bitcoin dropping as much as 3.6%, Etherfalling as much as 5.7% and Solanasinking by a similar magnitude.GENIUS GROUP SELLS ENTIRE BITCOIN TREASURY:Along with its Q1 earnings, Genius Groupannounced it has restructured its debt agreements,and repaying in full the company's $8.5M in debt. The company said it will recommence building its Bitcoin Treasury when it believes market conditions are more favorable.BITGO LAUNCHES BITGO MINT:BitGo Holdingsannounced thea new capability within the BitGo platform that gives institutional clients a single destination to mint, redeem, and manage supported stablecoins and other digital assets. At launch, BitGo Mint supports minting and redemption for USD1 and SoFiUSD, both of which are supported by BitGo's Stablecoin-as-a-Service offering. "Institutional clients want digital asset infrastructure that is operationally efficient, scalable, and built for control," said Mike Belshe, CEO. "BitGo Mint brings minting and redemption into a unified institutional workflow, helping clients reduce operational complexity while operating within the platform they already use for digital asset operations. Stablecoins have become increasingly crucial, and BitGo Mint gives institutions the control and efficiency they need to operate at scale."SOFI LAUNCHES BIG BUSINESS BANKING:SoFi Technologiesannounced thea new offering that gives enterprise partners the ability to manage both fiat and crypto banking from a single, nationally chartered bank. Over the last year, SoFi has enabled members to buy, sell and hold crypto, launched SoFiUSD, and built the regulated infrastructure connecting traditional and on-chain finance. Big Business Banking brings it all together, enabling any company operating across both traditional and digital finance to hold deposits, move money and settle transactions 24/7 within SoFi's regulated banking platform. "To be competitive businesses today must operate in a global, always-on environment 24 hours a day, 7 days a week, while legacy banks typically still operate 9 to 5, Monday to Friday," said Anthony Noto, CEO. "SoFi Big Business Banking is changing that by combining the strength and regulatory foundation of a nationally chartered bank with the speed, scale, and flexibility companies need to move and manage money or digital assets in real time."BIT DIGITAL PRICE TARGET LOWERED:B. Riley lowered the firm's price target on Bit Digitaltoon the shares. Bit Digital reported FY25 results showing ETH staking revenue of $7M, up from $1.8M in 2024, reflecting its shift to a strategic asset company model focused on ETH as a productive asset and AI infrastructure exposure via majority-owned WhiteFiber, the analyst tells said. Management emphasized building durable cash flow through staking to grow ETH per share and signaled potential M&A to add counter-cyclical cash flow, with agentic AI highlighted as a possible target area, the firm said.BITFARMS PRICE TARGET LOWERED:Alliance Global lowered the firm's price target on Bitfarmstoon the shares. Bitfarms recently announced the completion of its previously announced redomiciliation from Canada to the United States and noted that Keel Infrastructure, now the ultimate parent corporation of Bitfarms, is expected to begin trading on the Nasdaq and the Toronto Stock Exchange under the tickerat the opening of trading on April 6 in substitution for the Bitfarms shares. The company is in the process of receiving the necessary permits to move forward with its three primary HPC/AI projects and is winding down its bitcoin mining operations, the analyst noted. The firm expects finalization of permits on its HPC/AI sites will be the next catalyst.PRICE ACTION:As of time of writing, bitcoin was trading at $66,787, while ether was trading at $2,053, according to price data from TipRanks.
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Bitgo (BTGO) Q4 2025 Earnings Transcript
Bitgo Holdings Shares Enter Oversold Territory
- Oversold Signal: Bitgo Holdings Inc Class A (Ticker: BTGO) entered oversold territory on Tuesday with an RSI of 29.98, hitting a low of $5.90 per share, indicating that recent heavy selling may be exhausting, thus presenting potential buying opportunities for investors.
- Market Comparison: Compared to the S&P 500 ETF (SPY) with an RSI of 73.7, BTGO's oversold condition may attract bullish investors looking for entry points, aiming to capitalize on potential rebounds in the stock price.
- Price Fluctuation: BTGO's 52-week low is $5.90, while the high is $24.50, with the last trade at $5.97, indicating that the stock is hovering at a low level, which could pique the interest of value investors seeking bargains.
- Investor Sentiment: Despite the current low stock price, investors maintain a cautiously optimistic outlook on BTGO's future performance, believing that the oversold condition may lay the groundwork for a rebound, especially if market sentiment improves.
Novogratz in Court Contesting BitGo's $100M Claim
- Legal Dispute Escalation: Billionaire Michael Novogratz appeared in court to contest BitGo CEO Mike Belshe's claim that Galaxy Digital owes BitGo at least $100 million for withdrawing from a $1.2 billion transaction, highlighting the complexities and risks of mergers in the crypto industry.
- Transaction Breakdown Reasons: The proposed merger in 2021 was the largest in the crypto sector but fell apart due to a market crash, with BitGo alleging Galaxy did not make sufficient efforts to complete the deal, while Novogratz countered that BitGo failed to provide necessary financial statements on time.
- Regulatory Challenges: Novogratz stated that Galaxy proposed a merger in Canada to sidestep SEC regulations, but both companies eventually recognized the unlikelihood of obtaining SEC approval, reflecting the regulatory hurdles faced by the crypto industry.
- Market Reaction: In Thursday trading, Galaxy Digital's stock rose by 6.5%, while BitGo Holdings' stock fell by 4.4%, indicating increased market confidence in Galaxy but a cautious outlook for BitGo.
Valor Management Acquires New Stake in Bitgo Holdings
- New Investment: Valor Management LLC acquired 12,538,608 shares of Bitgo Holdings in Q1 2026, with an estimated trade value of $138.91 million, indicating a strategic interest in digital asset infrastructure.
- Significant Asset Proportion: Following the trade, Bitgo Holdings accounted for 57.05% of Valor's reported assets under management, highlighting its importance in the fund's portfolio and potential influence on future investment strategies.
- Market Performance Volatility: As of May 18, 2026, Bitgo shares were priced at $8.33, down 53.7% since January 1, 2026, reflecting the volatility and uncertainty surrounding the digital asset market.
- Strategic Shift: Valor Management's pivot from a healthcare-focused portfolio to digital assets underscores its recognition of institutional demand for regulated digital asset services, which may impact its future investment direction and market positioning.
Valor Management Initiates New Stake in BTGO
- New Stake Initiation: On May 13, 2026, Valor Management LLC disclosed a new position in Bitgo Holdings (NYSE:BTGO) by acquiring 12,538,608 shares, with an estimated trade value of $138.91 million, indicating a strong interest in digital asset infrastructure.
- Value Fluctuation: At quarter-end, the value of the BTGO position stood at $103.19 million, reflecting both trading activity and stock price movements, suggesting that Valor's investment strategy in the digital asset space is gradually taking shape.
- Asset Management Proportion: The BTGO stake accounts for 57.05% of Valor's total assets under management, and this concentrated holding strategy may drive portfolio performance in the context of rising demand for digital assets.
- Strategic Shift: Valor's pivot from a healthcare-focused portfolio to digital assets demonstrates a keen response to market changes, potentially attracting more institutional clients seeking secure management of digital assets.
BitGo Partners with Moon Inc. to Power Bitcoin-Linked Consumer Cards
- Strategic Partnership: BitGo Holdings has formed a partnership with Moon Inc., where BitGo will provide foundational infrastructure for Moon Inc.'s bitcoin-linked consumer card products through its regulated entity in Singapore, facilitating the secure integration of digital assets and advancing digital finance in Asia.
- Technological Edge: Moon Inc. selected BitGo as its infrastructure provider due to its biometric multi-signature architecture and batch transaction capabilities, which enable Moon Inc. to securely handle large volumes of digital assets, enhancing its competitive position in the market.
- Product Launch Plans: BitGo will initially support Moon Inc.'s bitcoin gift card program, which has processed multiple wholesale transactions since its launch and is set to be available in retail stores across Hong Kong and through Moon Inc.'s online store this month, further expanding market reach.
- Future Expansion: This partnership is expected to support the launch of Moon Inc.'s next consumer card product scheduled for Q2 2026, marking a continued collaboration and innovation in the digital asset space, aiding Moon Inc.'s expansion across the Asia-Pacific region.
Bitgo (BTGO) Q4 2025 Earnings Transcript
Bitgo Holdings Shares Enter Oversold Territory
- Oversold Signal: Bitgo Holdings Inc Class A (Ticker: BTGO) entered oversold territory on Tuesday with an RSI of 29.98, hitting a low of $5.90 per share, indicating that recent heavy selling may be exhausting, thus presenting potential buying opportunities for investors.
- Market Comparison: Compared to the S&P 500 ETF (SPY) with an RSI of 73.7, BTGO's oversold condition may attract bullish investors looking for entry points, aiming to capitalize on potential rebounds in the stock price.
- Price Fluctuation: BTGO's 52-week low is $5.90, while the high is $24.50, with the last trade at $5.97, indicating that the stock is hovering at a low level, which could pique the interest of value investors seeking bargains.
- Investor Sentiment: Despite the current low stock price, investors maintain a cautiously optimistic outlook on BTGO's future performance, believing that the oversold condition may lay the groundwork for a rebound, especially if market sentiment improves.
Novogratz in Court Contesting BitGo's $100M Claim
- Legal Dispute Escalation: Billionaire Michael Novogratz appeared in court to contest BitGo CEO Mike Belshe's claim that Galaxy Digital owes BitGo at least $100 million for withdrawing from a $1.2 billion transaction, highlighting the complexities and risks of mergers in the crypto industry.
- Transaction Breakdown Reasons: The proposed merger in 2021 was the largest in the crypto sector but fell apart due to a market crash, with BitGo alleging Galaxy did not make sufficient efforts to complete the deal, while Novogratz countered that BitGo failed to provide necessary financial statements on time.
- Regulatory Challenges: Novogratz stated that Galaxy proposed a merger in Canada to sidestep SEC regulations, but both companies eventually recognized the unlikelihood of obtaining SEC approval, reflecting the regulatory hurdles faced by the crypto industry.
- Market Reaction: In Thursday trading, Galaxy Digital's stock rose by 6.5%, while BitGo Holdings' stock fell by 4.4%, indicating increased market confidence in Galaxy but a cautious outlook for BitGo.
Valor Management Acquires New Stake in Bitgo Holdings
- New Investment: Valor Management LLC acquired 12,538,608 shares of Bitgo Holdings in Q1 2026, with an estimated trade value of $138.91 million, indicating a strategic interest in digital asset infrastructure.
- Significant Asset Proportion: Following the trade, Bitgo Holdings accounted for 57.05% of Valor's reported assets under management, highlighting its importance in the fund's portfolio and potential influence on future investment strategies.
- Market Performance Volatility: As of May 18, 2026, Bitgo shares were priced at $8.33, down 53.7% since January 1, 2026, reflecting the volatility and uncertainty surrounding the digital asset market.
- Strategic Shift: Valor Management's pivot from a healthcare-focused portfolio to digital assets underscores its recognition of institutional demand for regulated digital asset services, which may impact its future investment direction and market positioning.
Valor Management Initiates New Stake in BTGO
- New Stake Initiation: On May 13, 2026, Valor Management LLC disclosed a new position in Bitgo Holdings (NYSE:BTGO) by acquiring 12,538,608 shares, with an estimated trade value of $138.91 million, indicating a strong interest in digital asset infrastructure.
- Value Fluctuation: At quarter-end, the value of the BTGO position stood at $103.19 million, reflecting both trading activity and stock price movements, suggesting that Valor's investment strategy in the digital asset space is gradually taking shape.
- Asset Management Proportion: The BTGO stake accounts for 57.05% of Valor's total assets under management, and this concentrated holding strategy may drive portfolio performance in the context of rising demand for digital assets.
- Strategic Shift: Valor's pivot from a healthcare-focused portfolio to digital assets demonstrates a keen response to market changes, potentially attracting more institutional clients seeking secure management of digital assets.
BitGo Partners with Moon Inc. to Power Bitcoin-Linked Consumer Cards
- Strategic Partnership: BitGo Holdings has formed a partnership with Moon Inc., where BitGo will provide foundational infrastructure for Moon Inc.'s bitcoin-linked consumer card products through its regulated entity in Singapore, facilitating the secure integration of digital assets and advancing digital finance in Asia.
- Technological Edge: Moon Inc. selected BitGo as its infrastructure provider due to its biometric multi-signature architecture and batch transaction capabilities, which enable Moon Inc. to securely handle large volumes of digital assets, enhancing its competitive position in the market.
- Product Launch Plans: BitGo will initially support Moon Inc.'s bitcoin gift card program, which has processed multiple wholesale transactions since its launch and is set to be available in retail stores across Hong Kong and through Moon Inc.'s online store this month, further expanding market reach.
- Future Expansion: This partnership is expected to support the launch of Moon Inc.'s next consumer card product scheduled for Q2 2026, marking a continued collaboration and innovation in the digital asset space, aiding Moon Inc.'s expansion across the Asia-Pacific region.
