Crypto Biz: Bitcoin pumps, Wall Street does the paperwork

Written by Sam Bourgistaff writerReviewed by Robert Lakinstaff editorWritten by Sam Bourgistaff writerReviewed by Robert Lakinstaff editorCrypto Biz: Bitcoin pumps, Wall Street does the paperworkLatest NewsPublishedAug 28, 2026Bitcoin’s $80,000 rebound lifts crypto stocks as Circle, Strategy and Solana show how capital markets, stablecoins and onchain growth are driving crypto’s recovery.Bitcoin’s return above $80,000 is exposing just how much the crypto industry now runs through traditional capital markets. Michael Saylor’s Strategy needs a receptive market to finance its Bitcoin machine (BTC), Circle’s outlook increasingly resembles a bet on the growth of dollar-denominated financial infrastructure and Treasury bond buybacks helped provide the backdrop for the latest surge in crypto equities.This week’s Crypto Biz looks at how that relationship is reshaping the companies, balance sheets and networks behind the market’s rebound.Bitcoin rally sends crypto stocks soaringBitcoin’s rally above $80,000 lifted crypto stocks as miners and digital asset treasury companies posted double-digit gains, tracking a broader recovery fueled by the US Treasury’s plan to double certain long-dated bond buybacks.Canaan, MARA Holdings and Strive were among the biggest gainers over the past week, while Coinbase and Robinhood also rallied. Bitcoin extended its weekly advance past 23%, while Ether gained nearly 30% to trade above $2,500, according to CoinMarketCap data.Support also came from President Trump renewing calls for Congress to pass the CLARITY Act, though the bill remains stalled after lawmakers failed to advance it before the August recess. The bill could establish clearer rules for US crypto markets, while Trump separately revived the prospect of government Bitcoin purchases, though neither outcome is assured.Bernstein bets on fresh USDC growth cycleBernstein analysts are bullish on Circle, arguing that a new growth cycle for its USDC stablecoin could provide a significant…

Crypto Biz: Bitcoin pumps, Wall Street does the paperwork

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