U.S. Stock Crypto Sector Starts Trading Day with Broad Gains, BMNR Up Over 5%

April 16 — Per The Wall Street Journal, Charles Schwab Investment Management announced today the launch of Schwab Crypto?, its cryptocurrency spot trading service, which will roll out to retail clients gradually over the coming weeks. The service will offer direct trading access for Bitcoin and Ethereum, plus educational content and dedicated customer support. Clients can access the platform seamlessly via Charles Schwab’s existing ecosystem of research, wealth management, and banking tools.

On April 16th, per LookOnChain monitoring data, a newly created wallet (bc1qlu) has just withdrawn 1,456 BTC (valued at $108.44 million) from Binance.

April 16th: Bitcoin dipped below $74,000, down 0.02% in the past 24 hours, per HTX market data.

On April 16, the Financial Times reported that the cryptocurrency and artificial intelligence (AI) industries have collectively raised approximately $250 million over the past year to support congressional candidates in the November midterm elections. In February, Andreessen Horowitz co-founders Marc Andreessen and Ben Horowitz donated a combined $25 million to the Super Political Action Committee (Super PAC) “Leading The Future,” which backs AI-friendly candidates. The group has raised roughly $75 million from billionaires including the two founders and OpenAI co-founder Greg Brockman; when including “dark money” nonprofits that do not disclose their donors, that total climbs to $140 million. Separately, Fairshake—the crypto industry’s largest Super PAC—has raised more than $134 million. In January, Wall Street firm Cantor Fitzgerald (formerly led by current U.S. Commerce Secretary Howard Lutnick, now run by his son Brandon, who has ties to Tether) donated $10 million to Fell

On-chain analyst Wu Ji reported on April 16th that as HYPE climbed to $45, a whale holding a long position of 1.38 million HYPE tokens (valued at $62.13 million) from last November’s peak has shifted from an unrealized loss of $26 million to breakeven with an $8.5 million unrealized gain. Key details: - The whale entered the long position at $38.6 per HYPE in November 2023 (the token’s peak at the time). HYPE’s price fell to a low of $20.5 by late January, leaving the whale with a $26 million unrealized loss then. - Currently, HYPE has surged 120% from its $20.5 low. The whale’s position now sits at breakeven plus $8.5 million in unrealized gains.

U.S. stocks opened higher on April 16: the Dow Jones Industrial Average rose 0.16%, the S&P 500 gained 0.2%, and the Nasdaq Composite was up 0.17%.