🌍 The recently enacted Investment Bank Law in El Salvador positions the country as a potential fintech hub in Latin America, integrating bitcoin and crypto assets into its financial landscape. Passed by the National Assembly on August 7, the law distinguishes investment banks from traditional banks, allowing them to offer innovative tools to attract "sophisticated investors."

💰 These investment banks must maintain a minimum capital of $50 million and cater to investors who are certified for their financial market knowledge and possess at least $250,000 for operations. The law enables these institutions to facilitate various activities, including fundraising, credit offerings, foreign exchange operations, and guarantee establishment.

Investment banking entities may apply to the competent authorities for authorization to carry out activities as digital asset service providers, digital asset issuers, and bitcoin service providers; always directed exclusively at sophisticated investors.

🔗 This provision suggests the possibility of issuing tokenized bonds and other instruments to streamline fundraising and asset distribution processes, previously restricted to traditional institutions. Investment banks will also have the option to collaborate with third parties for digital asset custody and operations management.

📈 Dania González, a representative from Bukele’s Nuevas Ideas party, emphasized that this law will attract significant capital to El Salvador by offering regulated operations involving bitcoin, stablecoins, gold, and tokenized bonds. She stated it will "help businesses, governments, and other organizations secure funding to finance large projects, such as building public infrastructure, launching new products, or expanding into other countries."

📰 American Bitcoin Corporation's Merger with Gryphon Digital Mining

🔗 American Bitcoin Corporation (ABC), a Bitcoin mining firm supported by the Trump family, is close to finalizing its backdoor merger with Gryphon Digital Mining to become publicly traded on Nasdaq.

📅 On July 31, Gryphon submitted a proxy statement to the U.S. Securities and Exchange Commission (SEC), scheduling a shareholder vote on the merger for August 27. The SEC also approved the Form S-4 registration statement for the transaction, a crucial step for the deal's progression.

🤝 Announced in May, the merger will see ABC merge with Gryphon, which is already listed on Nasdaq under the ticker "GRYP." To prepare for this, ABC secured $220 million in a private equity placement last month.

🏢 ABC is a newly established mining subsidiary of Hut 8 Corp. After its separation in April, Hut 8 transferred its mining equipment to ABC, which now operates these machines at Hut 8’s facilities.

📊 As of May 30, ABC reported owning approximately 10.17 EH/s of Bitcoin hashrate with an average fleet efficiency of 21.2 J/TH. However, it did not disclose its recent operational capacity or Bitcoin production figures.

👥 The company is backed by Eric Trump, son of former U.S. President Donald Trump. He is anticipated to hold a stake worth $367 million in ABC once it completes its Nasdaq listing.

📈 ABC aims for a total hashrate capacity of 25 EH/s, which includes an option to acquire 15 EH/s of hosted capacity from Hut 8 for Bitmain machines.

💼 Ledn Launches Private Wealth Program for Bitcoin Lending

👥 Ledn, a prominent player in the bitcoin lending space, has introduced its Private Wealth program designed for high-net-worth individuals, institutional investors, and corporations. This program allows clients to leverage their long-term bitcoin holdings for strategic capital while still maintaining exposure to potential price increases.

📈 The initiative comes in response to a rising trend among crypto investors who are seeking to borrow against their bitcoin assets. In 2024, Ledn saw a significant increase in demand for customized credit solutions, processing a record $2.4 billion in loans.

💰 The Private Wealth program offers several benefits for clients with a minimum of $250,000 in active loans. These include preferential rates, dedicated relationship managers, and expedited service. Ledn emphasizes its commitment to security and transparency through its industry-first proof-of-reserves standard and monthly Open Book Reports.

🔒 This reinforces Ledn's position as a trusted partner in the evolving landscape of bitcoin-backed lending.