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Donald Trump Jr.-backed Thumzup Media entering dogecoin mining game in a big way

Thumzup estimates its planned 3,500 dogecoin mining rigs will fetch $22.7 million in annual revenue.

Sage D. Young

On Thursday, Thumzup Media Corporation, backed by Donald Trump Jr., announced plans to increase the total number of dogecoin mining rigs in its operations to 3,500 units, according to its shareholder letter. 

Thumzup’s pending acquisition of dogecoin mining rigs “marks the company’s entry into the rapidly growing $10.5 billion cryptocurrency mining market, which is projected to reach $22.6 billion by 2035, which is an 8.9% CAGR,” the announcement stated. “Importantly, it should diversify our revenue streams while positioning us as one of the few publicly traded, utility-scale Dogecoin miners.”

Year to date, dogecoin has dropped nearly 32% to trade around the $0.22 level. At this price level and with 3,500 mining rigs, the company is estimated to make $22.7 million in annual revenue. Thumzup Media’s stock dropped on the news and is down nearly 3% as of 11:45 a.m. ET.

The announcement comes as senior Bloomberg ETF analyst Eric Balchunas predicts REX Shares and Osprey will be the first to roll out a spot dogecoin ETF by as early as next week. 

REX Shares posted that its spot dogecoin ETF, which will trade under the ticker “DOJE,” is “coming soon” and will be the first ETF to provide exposure to the cryptocurrency that started off as a satirical joke but has since turned into a massive financial instrument with a market capitalization of nearly $32.9 billion.  

The “40 Act” Balchunas referenced is short for the Investment Company Act of 1940, which focuses on the “disclosure to the investing public of information about the fund and its investment objectives, as well as on investment company structure and operations,” per a blog post from the SEC. 

Meanwhile, CleanCore Solutions started a dogecoin treasury. The firm announced earlier this week a $175 million private placement to adopt dogecoin as its primary treasury reserve. 

The firm also said Alex Spiro, a partner of New York law firm Quinn Emanuel Urquhart & Sullivan who has represented dogecoin enthusiast Elon Musk, will join as the company’s board chairman. 

Shares of CleanCore have dropped more than 56% in the last five days.

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Ripple launches treasury platform to manage cash and cryptocurrencies

Ripple, the firm closely tied to the fifth-largest cryptocurrency, XRP, introduced a new treasury platform for digital asset and traditional cash management for users like financial officers, treasurers, and accountants. 

Ripple’s move comes more than three months after it acquired treasury software provider GTreasury for $1 billion, one of several steps to grow the firm’s position in corporate finance.

Combining Ripple’s blockchain rails and GTreasury’s software, the new platform’s goal is to simplify treasury operations. It eliminates settlement delays with payment times of three to five seconds and optimizes yield from working capital 24/7 through tokenized money market funds such as BlackRock’s BUIDL and overnight secure repo markets with RLUSD, according to a Tuesday blog post. 

Ripple Treasury also aims to provide “real-time cash positions, automated forecasting, and seamless reporting across traditional cash, digital assets, RLUSD, and XRP holdings,” the blog post stated.

Last year, Ripple filed its national banking license application with the US Office of the Comptroller of the Currency, while the firm’s subsidiary Standard Custody & Trust Company applied for a Federal Reserve master account, which would allow Ripple to hold RLUSD reserves directly with the Fed.

XRP has seen $2.4 billion in trading volume in the last 24 hours, increasing 1.8% in the period. The token’s all-time high was set in July 2025 at $3.65. Meanwhile, spot XRP ETFs had nearly $9.2 million worth of inflows on Tuesday, bringing cumulative inflows to $1.4 billion.

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US-CRYPTOCURRENCY-CLIMATE-EMPLOYMENT-CHINA
$82B
Sage D. Young

Crypto money laundering activity totaled more than $82 billion in 2025, more than 8x higher than 2020’s figure of $10 billion, according to a Tuesday report published by crypto analytics firm Chainalysis. Chinese-language networks dominated the ecosystem, accounting for roughly 20% of the illicit activity, or $16.1 billion, last year:

“Compared to other laundering endpoints, since 2020, inflows to identified CMLNs [Chinese-langugage money laundering networks] grew 7,325 times faster than those to centralized exchanges, 1,810 times faster than those to decentralized finance (DeFi), and 2,190 times faster than intra-illicit on-chain flows.”

Tom Keatinge, director at the Centre for Finance & Security at security think tank Royal United Services Institute, told Chainalysis that the rapid development of Chinese-language networks is an “an unforeseen consequence” of China’s imposition of capital controls.

“Wealthy individuals seeking to move money out of China and evade these controls provide the impetus and liquidity pool needed to service organized crime groups based in the West,” he noted.

Keatinge told Chainalysis, “The professional enablers of this capital flight provide the services necessary to match these two independent yet mutually beneficial needs.” 

Chinese-language networks offer six primary money movement techniques to clean dirty money, which include recruiting individuals to rent out their financial identities, selling illicit cryptocurrency at a discounted rate, and obscuring fund origins through multiple transactions. 

Overall, this Chinese ecosystem processed nearly $44 million per day last year. 

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