Pompliano Launches Bitcoin-Only Public Firm

CRYPTO
Pompliano Launches Bitcoin-Only Public Firm

Anthony Pompliano, a well-known figure in the crypto world, is reportedly preparing to lead a new public company with one clear goal: buying Bitcoin. He’s expected to become CEO of ProCapBTC, an entity aiming to raise $750 million to acquire Bitcoin directly.

According to reports, ProCapBTC plans to go public via a merger with Columbus Circle Capital 1, a SPAC backed by Cohen & Company. The deal, still under negotiation, could be announced as early as next week. It would include $500 million in equity and $250 million in convertible debt, making it one of the largest recent crypto-related raises.

This move comes amid renewed interest in digital assets, driven in part by speculation that Bitcoin could play a bigger role in U.S. economic policy if Trump returns to office.

Pompliano, who recently raised $220 million for another venture, is following a path similar to MicroStrategy and Metaplanet in institutional Bitcoin accumulation.

FINANCE
Defense Stocks Rise Amid Conflict

Oil prices surged and stocks fell Friday after Israel launched strikes on Iranian nuclear and military targets, raising fears of broader conflict and disruptions to global crude supplies.

The S&P 500 dropped 1.1%, the Dow fell 1.8%, and the Nasdaq slipped 1.3%. U.S. crude oil spiked 7.3% to $72.98 per barrel, while Brent crude climbed 7% to $74.23. Investors fear escalating tensions could restrict oil exports from Iran and disrupt the vital Strait of Hormuz shipping lane.

Defense stocks rose—Lockheed Martin, RTX, and Northrop Grumman gained over 3%—while cruise lines and airlines, vulnerable to fuel costs and travel demand, posted sharp losses.

Gold gained 1.5% as investors sought safe assets, but Treasury yields rose as oil-driven inflation concerns returned. The 10-year yield jumped to 4.42%

TECH
Nvidia Cuts China From Forecasts

Nvidia will no longer include China in its financial forecasts due to tightened U.S. export controls, CEO Jensen Huang told CNN. The restrictions, introduced under the Trump administration and expanded recently, have made it harder for Nvidia to do business in China. Huang expressed concern that the controls are stifling U.S. manufacturing while pushing China to accelerate its own AI chip development.

Despite strong quarterly earnings, Nvidia lost an estimated $2.5 billion in revenue from being unable to ship its H20 chips—designed to comply with export rules—to China. A $4.5 billion charge followed due to excess inventory.

Huang emphasized that the current restrictions aren’t achieving their intended goals and may backfire by helping China close the technology gap. While a new U.S.-China trade deal could ease some restrictions in exchange for access to rare earths, uncertainty remains. Huang is now taking a cautious, long-term approach with investors.

ECONOMY
China Maintains Rare Earth Dominance

Despite recent U.S.-China trade discussions hinting at looser export rules, China’s control over the global rare earths market remains firm. Three Chinese firms received export approvals for rare earth magnets, but others reported those licenses were limited to single shipments.

China produces 60% and processes nearly 90% of the world’s rare earths—crucial for everything from EVs to military tech—making diversification difficult. Europe produces none, and the U.S. only recently began limited mining.

While some companies like Solvay in France are exploring recycled materials and alternative sources, volatility persists. U.S. firms worry that China’s restrictions, made permanent through licensing changes, serve as leverage amid tech tensions.

Auto and tech industries are trying to adapt by designing products that require fewer rare earths, but scaling these alternatives is challenging. Meanwhile, China's pricing tactics and recent tungsten restrictions underscore its ongoing dominance and the West's uphill battle for independence.

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.