BITF, ABTC, other crypto-tied stocks lead week's financials movers

[Stock market trading, financial data graph chart, data visualization, Business arrow graph chart]
Rasi Bhadramani

Crypto-focused firms were among the biggest winners and losers across the broader financials space in the week ended Oct. 17.

Bitfarms (BITF [https://seekingalpha.com/symbol/BITF]), rising the most of any financial stock (with market cap over $2B) this week, surged 19% as the crypto miner named a new CFO [https://seekingalpha.com/news/4503820-bitfarms-appoints-new-cfo-to-lead-north-american-ai-infrastructure-pivot] to lead financial strategy for its North American AI expansion;

Hut 8 (HUT [https://seekingalpha.com/symbol/HUT]), another bitcoin miner focused on AI infrastructure, jumped 11%;

Alternative asset manager DigitalBridge Group (DBRG [https://seekingalpha.com/symbol/DBRG]) climbed 10.6%;

Cipher Mining (CIFR [https://seekingalpha.com/symbol/CIFR]) also gained 10.6%; and

American Express (AXP [https://seekingalpha.com/symbol/AXP]) rounded out the five biggest weekly gainers with a 9.6% advance, after the credit card lender and network raised the lower end of its 2025 guidance [https://seekingalpha.com/news/4505167-american-express-raises-lower-end-of-2025-guidance-range-after-q3-earnings-beat] after better-than-expected Q3 earnings.

Conversely, American Bitcoin (ABTC [https://seekingalpha.com/symbol/ABTC]), a bitcoin mining company backed by U.S. President Donald Trump's oldest sons, Eric Trump and Donald Trump Jr., was the biggest financial loser, tumbling 20%;

Baldwin Insurance Group (BWIN [https://seekingalpha.com/symbol/BWIN]) dropped 19.5%;

Crypto exchange Gemini Space Station (GEMI [https://seekingalpha.com/symbol/GEMI]) gapped down 16%;

Chinese financial services firm Lufax Holdings (LU [https://seekingalpha.com/symbol/LU]) retreated 12%; and

Blockchain-based lender Figure Technology Solutions (FIGR [https://seekingalpha.com/symbol/FIGR]) slid 9%.

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