AI gold rush draws crypto firms away from Bitcoin
The price of Bitcoin has risen in August but is still far below its peak almost a year ago - and companies are refitting their mines.
BBC Business • 8/25/2026, 11:11:02 PMTopic archive
Bitcoin
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Gold hits highest level in three months as traders worry about US inflation and bond market jitters – business live
Spot gold touches almost $4,700 an ounce and Bitcoin tops $80,000 while oil prices fall despite threat of heavy US sanctions on Iran and any country trading with it Ipek Ozkardeskaya, senior analyst at Swissquote, has sent us her thoughts on gold. Renewed appetite for gold despite elevated long-term US yields is striking and sends a clear message: investors are moving back to the precious metal as: A hedge against unclear US fiscal plans and the lack of conviction in the US administration’s capacity to rein in exploding debt when military expenses are adding to already heavy bills. A hedge against inflation, amid questions over the Fed’s willingness, or ability (!), to fight inflation independently. A hedge against a potential rout across global risk assets on worries about high valuations, massive AI spending and the growing financing web around the companies involved in building the AI ecosystem – the circularity. The question is: will gold gather enough momentum to return sustainably above the $5,000 mark? Possibly, yes. The broad de-dollarization trade that’s quietly building in the background, justified by global institutions’ efforts to diversify away from US Treasuries and toward gold, remains supportive of gold in the longer run. In the shorter run, overbought conditions could lead to downside corrections, giving dip-buying opportunities to long-term bulls. Well, we are giving everyone the opportunity to remedy bad behaviour. Why would I want to blow up the global financial system? We believe that it is important to level set and give people a cure period, but they should know that that will move very quickly and that we are serious...
The Guardian • 8/25/2026, 6:49:36 AMFour Years Ago, a Crypto Boss Went Missing. Now His Successor Has.
The mysterious collapse of a European cryptocurrency exchange helps to explain why the industry hasn’t shaken off its reputation as a magnet for criminals.
NY Times • 8/23/2026, 4:01:08 AMTwo Binance Employees Detained in the U.A.E. Amid Police Inquiries
The detentions of the workers, who have been released, are a sign of legal pressure that the world’s largest crypto exchange faces in the Emirates, which is home to its main regulator.
NY Times • 8/20/2026, 7:10:08 PMCrypto bank part-owned by Trump family offers depositors way to ‘gain favor’ with White House, experts say
Democrats have called World Liberty Trust Company a stark example of corruption but officials claim there is no insider dealing Two fundamentals underpin the business model of a new crypto bank partly owned by the Trump family, cryptocurrency experts tell the Guardian. World Liberty Trust Company received conditional approval this month from the US office of the comptroller of the currency (OCC) to start a bank. An entity affiliated with Donald Trump and his family members owns about 38% of the company. The agency is led by a political appointee of the US president...
The Guardian • 8/20/2026, 10:00:49 AM81,000 warning letters sent to crypto holders in HMRC tax crackdown
According to a Freedom of Information (FOI) request the number of letters sent has almost tripled since 2024.
BBC Business • 8/19/2026, 4:14:46 PMScientists who turned to OnlyFans to fund marmot research receive crypto boost
Funding boost worth $100,000 has recently materialized in form of new marmot-themed cryptocurrency Scientists who turned to OnlyFans to help save long-running research into marmots have raised more than $100,000 after harnessing the support of another, very modern, funding avenue – cryptocurrency. The 60-year project of continuous study of marmots – stout, ground-dwelling rodents that are the largest members of the squirrel family – across the US west was facing termination following science funding cuts imposed by Donald Trump’s administration...
The Guardian • 8/18/2026, 1:00:46 PMA Queensland man enjoyed soaring profits from a crypto trading app. Then his money started disappearing
The administrative work required to run an effective investment scam has been drastically cut by using merging technology Get our breaking news email, free app or daily news podcast Within days of clicking on an online ad for a cryptocurrency trading app, a 29-year-old Queensland man watched his dashboard soar with profits. Making investment gains was as simple as downloading the slick-looking app and browser extension linked to his crypto wallet. So he invested more...
The Guardian • 8/14/2026, 3:00:31 PMTrump Media reports $238m loss as crypto falls
The firm says it will refocus on its social media mission, which includes a controversial service that sells faster access to Trump's market-moving posts.
BBC Business • 8/11/2026, 1:12:11 AM