argo

According to CNBC, Wells Fargo stated that some taxpayers may receive larger refunds this year compared to previous years, which could drive funds into risk assets such as stocks and Bitcoin. This is due to provisions in the Inflation Reduction Act passed last summer that are favorable to taxpayers in 2025.Additionally, the IRS did not update its withholding tax tables last year, so wage earners are less likely to face surprises from adjustments to taxes already withheld.Wells Fargo noted in its latest analyst report that these factors could lead to as much as $150 billion flowing into the market by the end of March, as over 60% of refunds are issued.The bank's analysts added that the expected liquidity injection could boost Bitcoin as well as stocks favored by retail investors, such as Boeing and Robinhood. Wells Fargo analyst Ohsung Kwon stated in a report on Sunday, "We believe the additional savings from tax refunds—especially for high-income consumers—will flow back into the stock market.""Increased savings will drive speculative sentiment... We expect the 'YOLO' mentality to return." The analysts pointed out that Bitcoin could serve as a proxy indicator for liquidity, signaling a shift in investment patterns. According to Wells Fargo data, domestic liquidity has decreased by $105 billion over the past four weeks, while Bitcoin has retraced about 29% in the past month.

According to Frank Chaparro, project director at The Block, Wells Fargo posted a position for a Head of Digital Asset Services four days ago. Responsibilities include: developing a three to five-year strategy covering tokenized deposits, on-chain collateral, intraday liquidity, and 24/7 programmable payments—fully integrated with wire transfers, ACH, RTP, FedNow, and SWIFT.Not long ago, Morgan Stanley and JPMorgan also hired senior leadership talent in the cryptocurrency space.

According to Jinshi, Bank of America shares fell by 1.3%, and Wells Fargo shares fell by 1.5%.

Binance founder Zhao Changpeng CZ retweeted a post stating: "While you are panic selling, American banks are continuously accumulating Bitcoin."The tweet mentioned that Wells Fargo has just purchased $383 million worth of Bitcoin, and American banks are making large purchases.

According to Bloomberg, Bank of America CEO Brian Moynihan, Citigroup CEO Jane Fraser, and Wells Fargo CEO Charlie Scharf plan to meet with bipartisan senators on Thursday to discuss cryptocurrency market legislation that may soon be put to a vote.The discussion is organized by the Financial Services Forum, a large bank alliance, and is expected to focus on bankers' opposition to allowing interest payments on stablecoins, as well as issues related to banks' competitiveness in the cryptocurrency space and preventing the use of cryptocurrencies for illegal activities. Senators involved in cryptocurrency market structure legislation have been invited to the meeting.

ChainCatcher news, Argo Blockchain, a cryptocurrency mining company, will be taken over by its largest creditor Growler Mining through a "debt-for-equity" swap, with existing shareholders retaining only a minimal percentage of shares. According to the restructuring documents submitted under the UK Companies Act, Growler will convert approximately $7.5 million of secured loans into equity and inject new funds in exchange for 87.5% of Argo's equity post-restructuring. Holders of Argo's approximately $40 million unsecured bonds will collectively receive 10% of the shares, while original shareholders will retain only 2.5%. The restructuring plan is named "Project Triumph," aimed at avoiding bankruptcy and maintaining the company's listing status on Nasdaq.

ChainCatcher news, according to Cointelegraph, cryptocurrency mining company Argo Blockchain's largest lender, Growler Mining, is taking over the struggling miner through a debt-to-equity swap plan.Under this plan, existing shareholders will only retain a small portion of the company's equity. The restructuring proposal submitted under the UK Companies Act shows that Growler will convert a $7.5 million secured loan into equity and provide additional financing in exchange for 87.5% of Argo's equity after restructuring. Meanwhile, holders of $40 million in unsecured bonds will receive 10% equity, while existing shareholders will retain only 2.5%. This transaction is part of the court-supervised "Project Triumph" restructuring plan, aimed at avoiding bankruptcy and maintaining its listing on Nasdaq. Argo warned that without a balance sheet restructuring, the company would go bankrupt due to cash flow and balance sheet issues.Additionally, Argo will delist from the London Stock Exchange, ending its six-year listing in the UK. If compliance conditions are met, its shares will continue to trade on Nasdaq, and the company's capital market focus will fully shift to the United States. Due to aging equipment and high energy consumption, Argo's daily Bitcoin production has plummeted from nearly 6 coins in 2022 to less than 2 coins in 2024, significantly reducing profitability.

ChainCatcher news, according to Jin10 reports, major U.S. bank stocks are generally down in pre-market trading, with Bank of America down over 3%, Citigroup down 1.7%, Goldman Sachs and Wells Fargo both down about 1.4%, and JPMorgan Chase down over 1%.

ChainCatcher news, according to Jinshi reports, Wells Fargo expects the Federal Reserve to cut interest rates five times before mid-2026.

ChainCatcher news, the address of the nonprofit development organization Argot Collective, which received 7,000 ETH in operational funding from the Ethereum Foundation, has now been listed on the Strategic Ethereum Reserves website (SΞR), with a reserve of 2,474 ETH.

ChainCatcher news, according to Jinshi reports, Wells Fargo stated that the U.S. CPI data will further indicate that higher tariffs have driven up prices.The bank noted that we are still in the early stages of the price adjustment process, and it is unclear how the higher import taxes will be distributed among end customers, domestic sellers, and foreign exporters.Wells Fargo expects inflation to rebound in the second half of this year, but it will not rise significantly, with core CPI and core PCE deflator expected to return to around 3% in the fourth quarter.

ChainCatcher news, according to Cointelegraph, blockchain intelligence company TRM Labs stated that a ransomware group named Embargo has transferred over $34 million in ransom-related cryptocurrency since April. Embargo currently has approximately $18.8 million in cryptocurrency stored in non-affiliated wallets, and experts believe this strategy may be aimed at delaying detection or taking advantage of better money laundering conditions in the future. Embargo operates under a ransomware-as-a-service (RaaS) model, primarily targeting industries with high downtime costs, including healthcare, business services, and manufacturing, and tends to attack victims within the United States, possibly due to their stronger payment capabilities.TRM's investigation suggests that Embargo may be a rebranded version of the notorious BlackCat (ALPHV) group, which disappeared earlier this year amid allegations of an exit scam. Although Embargo is not as overtly aggressive as LockBit or Cl0p, it employs a double extortion strategy: encrypting systems and threatening victims with the release of sensitive data if they do not pay. In some cases, the group publicly names victims or leaks data on its website to increase pressure.

ChainCatcher news, according to Jinshi reports, Erik Nelson, the head of foreign exchange strategy for the G10 at Wells Fargo, stated: "We have been trading in an environment of American exceptionalism, and the U.S. is undoubtedly the strongest economy in the world.In my view, the situation has changed; there are potential structural concerns—such as the independence of the Federal Reserve and the quality of data, among others. When it comes to the economic backdrop, all of these are moving in the wrong direction. In the foreseeable future, people will tend to sell the dollar on rallies."

ChainCatcher news, according to TheBlock, Bitcoin mining company Argo Blockchain (ARBK) has received a delisting notice from Nasdaq due to its stock price remaining below $1.The company was granted a 180-day "compliance period" to raise its stock price but failed to meet the requirement of being above $1 for 30 consecutive days, triggering the delisting warning. Currently, ARBK's stock price is $0.31, down about 4% since the announcement.

According to ChainCatcher news, the non-profit development organization Argot Collective, which received 7,000 ETH in operating funds from the Ethereum Foundation, continued to sell 600 ETH for 2.15 million USDC 6 hours ago.Since it started selling ETH for stablecoins on July 11, it has exchanged 4,826.6 ETH for 15.417 million USDC, with an average selling price of $3,194.

ChainCatcher news, according to Ember monitoring, the nonprofit development organization Argot Collective, which received 7,000 ETH in operating funds from the Ethereum Foundation, continued to sell 600 ETH for 2.06 million USDC 5 hours ago.

ChainCatcher news, according to Ember monitoring, the non-profit development organization Argot has received 7,000 ETH in operating funds from the Ethereum Foundation and sold 1,206.6 ETH for 3.61 million dollars nearly 6 hours ago. Since yesterday, Argot has sold 2,416.6 ETH, raising 7.106 million dollars, with an average selling price of 2,941 dollars / ETH.

ChainCatcher news, Ethereum Foundation (EF) co-executive director Hsiao-Wei Wang posted on X that the address that sold 1210 ETH this morning does not belong to EF, but to the non-profit development organization Argot Collective, which was previously spun off from EF.

ChainCatcher News: The Ethereum Foundation announced today that it will provide a three-year operational funding support to the Ethereum tool development team Argot Collective to promote its ongoing contributions in Solidity language development and other key open-source infrastructure.Argot Collective was founded by former members of the Ethereum Foundation and focuses on the maintenance and optimization of core Ethereum tools.

ChainCatcher message, the Ethereum Foundation announced a three-year operational funding for Ethereum tool developer Argot Collective to continue supporting its work on the Solidity language and other key open-source infrastructure for Ethereum. Argot was founded by former Ethereum Foundation members and is dedicated to maintaining the tools that Ethereum relies on.