Crypto-tied stocks lead week's financial winners; Argentine banks tumble

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

This week's biggest gainers across financials were led by crypto-linked stocks on the back of rising token prices [https://seekingalpha.com/news/4494391-bitcoin-ether-etfs-log-multi-day-inflows-as-crypto-prices-head-for-weekly-rise], while Argentine lenders fell the most amid rising political uncertainty.

Cipher Mining (CIFR [https://seekingalpha.com/symbol/CIFR]) rose the most of any financial stock (with market cap over $2B), surging 44% in the same week it delivered [https://seekingalpha.com/news/4492512-cipher-mining-generates-13-more-bitcoin-in-august-vs-july] bitcoin (BTC-USD [https://seekingalpha.com/symbol/BTC-USD]) production numbers for August;

BitMine Immersion Technologies (BMNR [https://seekingalpha.com/symbol/BMNR]), a crypto treasury firm, spiked 31% in the week ended Sept. 12, as its crypto holdings [https://seekingalpha.com/news/4493095-bitmine-exceeds-9b-in-crypto-and-cash-holdings] continued to swell;

IREN (IREN [https://seekingalpha.com/symbol/IREN]), which during the week posted [https://seekingalpha.com/news/4492971-irens-august-bitcoin-production-slips-82-mm] an 8% monthly slide in August bitcoin (BTC-USD [https://seekingalpha.com/symbol/BTC-USD]) production, accelerated 30%;

Fellow crypto miner Hut 8 (HUT [https://seekingalpha.com/symbol/HUT]) gained 28%; and

Crypto investment firm Galaxy Digital (GLXY [https://seekingalpha.com/symbol/GLXY]) rounded out the five biggest financial winners, climbing 26%, after news it's allowing its stockholders to tokenize their class A common shares [https://seekingalpha.com/news/4491740-galaxy-digital-enables-tokenization-of-its-stock-on-solana-blockchain] on the Solana (SOL-USD [https://seekingalpha.com/symbol/SOL-USD]) network via blockchain firm Superstate's Opening Bell platform.

On the losers, Argentina-based Banco Macro (BMA [https://seekingalpha.com/symbol/BMA]) and Grupo Financiero Galicia (GGAL [https://seekingalpha.com/symbol/GGAL]) shares dropped 26% and 25%, respectively, driven by Argentine President Javier Milei's ruling party losing [https://seekingalpha.com/news/4493059-argentina-stocks-and-us-listed-etf-tumble-amid-rising-political-uncertainty] in a key provincial election in the Buenos Aires province;

From there, Accelerant Holdings (ARX [https://seekingalpha.com/symbol/ARX]) shed 15%;

SLM (SLM [https://seekingalpha.com/symbol/SLM]) retreated 9.6%; and

Credit Acceptance (CACC [https://seekingalpha.com/symbol/CACC]) slid 9.2%.

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