Months after Donald Trump and his eldest sons were found liable for civil fraud associated with a family business, the Trumps have sparked new concerns with a growing family venture — cryptocurrency.

The Republican presidential candidate has embraced a newfound love for cryptocurrency — he owns more than $1 million in digital currency — and sons, Don Jr and Eric, are considering forming a crypto startup called World Liberty Financial. But that plan has concerned Trump’s allies in the crypto sphere.

The X accounts of Trump’s youngest daughter, Tiffany Trump, and Lara Trump, Eric’s wife who co-chairs the Republican National Committee, were hacked earlier this week, with posts directing users to fake links for the project, according to World Liberty Financial.

World Liberty Financial then warned X users to avoid clicking on links shared from those profiles. The two women are not involved in the crypto project.

Not long after the incident, Nic Carter, a Trump supporter and general partner at cryptoasset firm Castle Island Ventures, advised the startup to stop in its tracks.

“Is there something that we, as crypto twitter, can collectively do to stop the launch of world liberty coin? I think it genuinely damages trump’s electoral prospects, especially if it gets hacked…it’s also an obvious target for the SEC,” Carter wrote on X.

“At best it’s an unnecessary distraction, at worst it’s a huge embarrassment and source of (additional) legal trouble.”

Carter then bluntly told Politico that the startup was a “huge mistake”.

“It looks like Trump’s inner circle is just cashing in on his recent embrace of crypto in a kind of naive way, and frankly it looks like they’re burning a lot of the good will that’s been built with the industry so far,” he said.

The hacks took place days after the Trump family started promoting the new project. The former president posted a video to his X account, stating his ambition for the US to become “the crypto capital of the planet.” Despite joining X just two months ago, World Liberty Financial has more than 50,000 followers so far.

But some experts warned that such significant promotion pre-launch could cause issues down the line.

Austin Campbell, blockchain expert and adjunct professor at NYU Stern School of Business, also shared concerns about World Liberty Financial’s rollout.

“It’s a very typical playbook of smaller operators or more amateur operations in the crypto space to try to generate a lot of hype before revealing the details,” he told Politico. “That makes them susceptible to all sorts of nonsense.”

Another source in the cryptocurrency insider, who remained anonymous, told Politico about having “a laundry list of concerns” about how the project could imperil the industry’s reputation.

Trump has made a U-turn on cryptocurrency in recent years. After leaving the White House in 2021, Trump called Bitcoin a “scam.” He explained: “I don’t like it because it’s another currency competing against the dollar… I want the dollar to be the currency of the world.”

But in recent months, the former president has become a staunch supporter. In May, his campaign announced it would accept cryptocurrency contributions as part of a wider effort to build a so-called “crypto army” before the November election.

Although the official plans about the startup haven’t been announced, CoinDesk obtained portions of a white paper for the project.

The document called World Liberty Financial “a borrowing and lending service strikingly similar to Dough Finance”, a blockchain app that was hacked for $2m in July.

Four people who built Dough Finance are named as World Liberty Financial team members, and all of Trump’s sons — even NYU college freshman Barron, who the white paper calls “DeFi visionary”, CoinDesk reported.

The startup will also offer non-transferable governance token. Although World touted itself as a “decentralized” platform, the white paper revealed that 70 percent of its tokens will be “held by the founders, team, and service providers.”

Despite the recent hacks, a World Liberty Financial spokesperson told Politico: “We take security very seriously and put it first and foremost, above anything.”

Injective Protocol (INJ) whales are diversifying their portfolios and taking advantage of new opportunities. One such whale has made a strategic move by adding Mpeppe (MPEPE), an innovative A.I-powered casino project, to their holdings. This shift highlights the growing interest in the integration of artificial intelligence (A.I.) and blockchain technology in the gaming and decentralized finance (DeFi) sectors. Let’s explore why this move has caught the attention of the crypto community and why Mpeppe (MPEPE) is emerging as a project to watch.

Injective Protocol Whale’s Strategic Move into Mpeppe (MPEPE)

The decision by an Injective Protocol (INJ) whale to invest in Mpeppe (MPEPE) reflects a broader trend among high-net-worth investors seeking to diversify their holdings and tap into new markets. Mpeppe (MPEPE)’s focus on combining A.I. with blockchain technology to revolutionize the online gambling space is a major factor driving interest.

Injective Protocol (INJ) itself is known for its decentralized financial applications, making the whale’s move into a DeFi-integrated casino platform like Mpeppe (MPEPE) a logical extension of their investment strategy. This shift demonstrates confidence in the potential of Mpeppe (MPEPE)’s A.I.-driven casino ecosystem, which aims to offer a transparent, secure, and decentralized gambling experience.

What Makes Mpeppe (MPEPE) Stand Out?

Mpeppe (MPEPE) has gained traction in the crypto world due to its unique blend of meme culture, DeFi utility, and A.I.-driven gambling features. Here are the key elements that set Mpeppe (MPEPE) apart:

A.I. Integration for Smart Gambling

Mpeppe (MPEPE) leverages artificial intelligence to enhance the gambling experience for users. A.I. algorithms are used to analyze data, optimize gameplay, and ensure fair and transparent results. This innovation provides an edge over traditional online casinos, where trust issues can arise regarding fairness and payouts.

By utilizing A.I. technology, Mpeppe (MPEPE) offers players a more engaging and strategic gaming experience, which is expected to attract a broader user base, including serious gamblers and casual players alike.

Decentralized Finance Features

Unlike many memecoins that rely solely on market hype, Mpeppe (MPEPE) integrates DeFi protocols such as yield farming, staking, and liquidity mining. These features allow users to earn rewards while participating in the platform, making Mpeppe (MPEPE) more than just a speculative asset.

The ability to stake Mpeppe (MPEPE) tokens and participate in decentralized governance gives investors a sense of ownership and involvement in the project’s future direction. This added utility is a significant draw for investors looking for both entertainment and financial opportunities.

Viral Meme Culture Meets Serious Utility

Mpeppe (MPEPE) successfully combines the viral appeal of memecoins with real-world applications in the gambling and DeFi sectors. Inspired by the rise of meme cryptocurrencies like Pepecoin, Mpeppe (MPEPE) taps into internet culture while offering a platform that caters to the growing demand for decentralized gambling.

Conclusion: A.I. Meets DeFi in Mpeppe (MPEPE)’s Casino Platform

An Injective Protocol (INJ) whale has invested in Mpeppe (MPEPE), a unique AI-powered, DeFi-integrated project in the cryptocurrency space. Mpeppe (MPEPE)’s meme-driven appeal and real-world utility in decentralized gambling make it a potential player in blockchain and DeFi sectors. With influential whales’ backing, Mpeppe (MPEPE) is a token worth monitoring as the market evolves.

For more information on the Mpeppe (MPEPE) Presale: 

Visit Mpeppe (MPEPE)

Join and become a community member: 

https://t.me/mpeppecoin

https://x.com/mpeppecommunity?s=11&t=hQv3guBuxfglZI-0YOTGuQ

In this article, we will take a look at the recent news from the crypto industry while discussing the 20 cryptocurrency stocks to buy according to hedge funds.

A Review of the Crypto World: Latest Updates

Crypto has emerged as a major political issue in the US with the campaigns for election going on. Head of Firmwide research Galaxy Digital Alex Thorn called August a rough and seasonally bad week for Bitcoin. He mentioned how eight out of the eleven prior Augusts witnessed the major coin trading down. However, political events have also played a role in the crypto landscape.

In Thorn’s opinion, most people view Trump’s victory as bullish for the crypto market. Trump who is now running for President brought the hopes of the crypto world higher by promising to deliver a plan to make the United States the ‘crypto capital of the planet’. Crypto became an even hotter topic as Kamala Haris simultaneously supported policies for the expansion of the industry. In the opinion of Thorn, most people view Trump’s victory as bullish for the crypto market. He predicts crypto will run quite higher if Trump ends up winning the election based on an anticipated easing of the regulations. On the other hand, he expects the victory of Harris to be more neutral even for the industry since those advising her belong to the Biden administration on crypto policy.

Looking forward to September which is a seasonally weak month for crypto too, the next months including October, November, and December are crypto’s most bullish months based on the seasonality factor. Regardless of the highly awaited Fed interest rate cuts just ahead of us, the crypto market investors still remain concerned as JPMorgan’s Head of Global and European Equity Strategy dismissed the potential of a crypto bull market. While September has been a historically worst month for US stocks, the upcoming rate cut might be an outlier in history.

In an interview with CNBC, Anthony Pompliano, Professional Capital Management CEO, talked about the recent price moves in Bitcoin. The German government offloading Bitcoin through as many exchanges and the Bitcoin exchange Mt. Gox unloading coins onto the market are two important events defining this supply. Pompliano refers to Bitcoin as really illiquid with many Bitcoin holders having a long-term view of it. At the start of 2024, the Bitcoin amount that had not moved in more than a year was over 70%. Some of it started to get distributed as prices rose, as expected in a bull market. Although Pompliano expects this percentage to drop to 50% to 55% but still at least half of the Bitcoin would still be in the hands of people who have an over 10-year time horizon. Thus, the question revolves around whether these hands are strong enough to outlast the aforementioned two events. Pompliano finally states time as the only catalyst for Bitcoin rather than a pro-crypto candidate in the upcoming US elections. While the summer season is a bit slow, prices typically go back up in September and beyond.

With that, let’s look at the 20 best cryptocurrency stocks to buy now.

Our Methodology:

In order to compile a list of the 20 best cryptocurrency stocks to buy according to hedge funds, we sifted through ETFs and online rankings to compile a preliminary list of 40 companies involved in the crypto space. Moving on, we shortlisted the top 20 stocks from our list which had the highest number of hedge fund holders. The 20 best cryptocurrency stocks to buy according to hedge funds have been arranged in ascending order of the number of hedge fund holders they have, as of Q2 2024.

At Insider Monkey we are obsessed with the stocks that hedge funds pile into. The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points (see more details here).

20 Best Cryptocurrency Stocks to Buy According to Hedge Funds

20. Hut 8 Mining Corp (NASDAQ:HUT)

Number of Hedge Fund Holders: 13

Hut 8 Mining Corp (NASDAQ:HUT) is a Bitcoin mining company headquartered in Miami, Florida. The company has self-mining, hosting, managed services, and traditional data center operations across North America. It has a portfolio comprising 20 sites including 10 Bitcoin mining, hosting, and managed services sites in Alberta, New York, and Texas, 4 power generation assets in Ontario, 5 high-performance computing data centers in British Columbia and Ontario, and one newly announced site in the Texas Panhandle.

Hut 8 Mining Corp (NASDAQ:HUT) serves as one of North America’s largest Bitcoin miners and a leading vertically integrated operator of large-scale energy infrastructure. Its unique business model revolves around profitable digital asset mining, high-performance computing, and yield programs that complement its self-mined Bitcoin reserves’ value. The firm has years of experience mining digital assets with the most efficient mining servers which makes its operations one of the strongest in the mining industry. It has a proven track record of successfully navigating bull and bear Bitcoin market cycles. Despite the network halving during the second quarter, the firm’s gross margins in the Digital Assets Mining segment increased to 46% year-over-year.

An expanding footprint is core to the firm’s differentiated energy strategy. While the firm announced a new site in the Texas Panhandle, it is discussing a large-scale commercial partnership for the site which can power up to 205 megawatts of NVIDIA Blackwell GPUs. Emphasizing this business strategy, here is what the CEO Asher Genoot said during the Q1 2024 results conference call:

“We believe our strategy will position us for market leadership—first in Bitcoin mining then in the broader energy infrastructure sector. And with our commitment to disciplined capital allocation, focus on non-dilutive sources of funding, and exceptional team and board, we are more confident than ever that we are building a business that endures for generations and delivers lasting shareholder value.”

The firm’s strategy of building a portfolio that drives long-term market leadership, diversified business lines, and a strong and liquid balance sheet makes it attractive. As of Q2 2024, Hut 8 Mining Corp (NASDAQ:HUT) was held by 13 hedge funds thereby ranking among the 20 best cryptocurrency stocks to buy according to hedge funds.

19. Cipher Mining Inc. (NASDAQ:CIFR)

Number of Hedge Fund Holders: 15

Cipher Mining Inc. (NASDAQ:CIFR) is an industrial-scale Bitcoin mining company that dedicates itself to expanding and strengthening the Bitcoin network’s critical infrastructure in the United States. Cipher focuses on the development and operation of bitcoin mining data centers in the country. The US-based Bitcoin mining company was incorporated in 2020 and aims to be the market leader in Bitcoin mining growth and innovation.

Cipher is in an attractive industry position to maximize opportunities in both Bitcoin mining and HPC infrastructure. It is currently developing HPC infrastructure to be complementary to its Bitcoin mining business. The firm strategically expanded into the High-Performance Computing (HPC) business and has the potential to become a market-leading HPC infrastructure provider by securing 4 new North American sites with up to 1.7 GW of capacity while all sites have adequate access to consistent power, land, and fiber necessary to accommodate HPC. With experienced industry experts from Google, Vantage, and Meta on the team and significant early interest from a broad set of potential investors and financiers, Cipher is poised to grow.

As indicated by the CEO of Cipher, the firm currently operates at 8.7 exahashes per second of self-mining hashrate and is on target to achieve 13.5 exahashes per second by the year’s end and 35.0 exahashes per second by 2025’s end, almost 4 times than the current. Amidst ambitious plans for expansion and consistent growth in Bitcoin mining capacity and efficiency, Cipher Mining Inc. (NASDAQ:CIFR) is aiming for the right balance between the two business lines. The stock was held by 15 hedge funds at the close of Q2 2024 and is one of the best cryptocurrency stocks to buy according to hedge funds.

18. Marathon Digital Holdings, Inc. (NASDAQ:MARA)

Number of Hedge Fund Holders: 16

Marathon Digital Holdings, Inc. (NASDAQ:MARA) operates as a global leader in digital asset compute. The company mines digital assets with a focus on the Bitcoin ecosystem in the United States. Marathon leverages digital asset compute to support the energy transformation by the conversion of clean, stranded, or underutilized energy into economic value.

Marathon is one of the largest and most liquid miners which continues to efficiently scale and expand its operations thereby setting the pace for the Bitcoin mining industry. The firm has a diversified portfolio of Bitcoin mining operations. All of this has translated into strong financial results. From Q4 2022 to Q4 2023, the company witnessed its hashrate, BTC production, efficiency, and market share rise. For the second quarter of 2024, the BTC production fell as a result of the increased global hash rate, the April halving event, and unexpected third-party equipment failures and transmission line maintenance. However, the company recorded its energized hash rate increasing 78% to 31.5 exahashes per second, up from 17.7 exahashes per second in Q2 2023. Revenue increased by 78% year-over-year.

To better align its internal structure with the pursuit of growth opportunities, the company was organized into three strategic business teams including Utility Scale Mining, Energy Harvesting, and Technology. It also diversified its portfolio of digital asset compute with the launch of Kaspa mining operations.

With an all-time high installed current hash rate of 31.5 exahashes per second, the strategic move towards a streamlined organization with three specialized business teams, Marathon Digital Holdings, Inc. (NASDAQ:MARA) qualifies as one of the best cryptocurrency stocks to buy which was held by 16 hedge funds and Citadel Investment Group was the top shareholder, as of Q2 2024.

17. Bitfarms Ltd. (NASDAQ:BITF)

Number of Hedge Fund Holders: 16

Bitfarms Ltd. (NASDAQ:BITF) is a global Bitcoin self-mining company which was founded in 2017. The company runs vertically integrated mining operations with onsite technical repair, proprietary data analytics, and company-owned electrical engineering and installation services. The Bitcoin miner has a diversified production platform comprising 8 industrial-scale facilities in Canada, 2 in the United States, 1 in Argentina, and 3 in Paraguay. The firm’s data centers are powered by more than 75% renewable power.

Currently, Bitfarms serves as the only publicly traded crypto mining company audited by a Big Four accounting firm. The firm manages one of the largest internationally diversified portfolios of energy contracts in the Bitcoin data center business. It recently added 220 MW of capacity in Paraguay and Pennsylvania while it energized its 70 MW site in Paso Pe, the company’s largest site to date. Simultaneously, it stepped into the most attractive energy market in the US through its new site in Sharon while unlocking new opportunities beyond Bitcoin mining, such as HPC/AI. For the second quarter, Bitfarms had a hashrate of 11.1 exahashes per second, up from 6.5 exahashes per second in the first quarter. This implies that Bitfarms is implementing a robust growth strategy with a focus on US expansion and diversification from Bitcoin mining.

At the end of August, Bitfarms Ltd. (NASDAQ:BITF) revealed its plans to acquire Stronghold Digital Mining, Inc., a vertically integrated crypto asset mining company. This transformative acquisition is anticipated to potentially raise Bitfarm’s energy portfolio to over 950 MW by the end of 2025. The transaction is expected to close in the first quarter of 2025.

Based on the aforementioned plans, the firm is well set to reach over 35 exahashes per second in 2025 which will be a 67% growth from 21 exahashes per second, the year-end target for 2024.  With the appointment of Ben Gagnon as the Chief Executive Officer who has a prior 9-year full-time experience in the mining industry, Bitframs is positioned for accelerated growth through 2024. The firm’s impressive energy portfolio and strategic approach to growth rank it among some of the best crypto stocks to buy. As of Q2 2024, the stock was held by 16 hedge funds while Millennium Management was the most dominant shareholder.