A Swiss Bitcoin (BTC) payment firm has taken its servers offline as a precaution after a malicious user likely reached internal systems and may have seen customer data. Neuchâtel-based Swiss Bitcoin Pay, which processes on-chain and Lightning payments for merchants, shut the platform down while it investigates. In an X post, the company says attackers …
Author archives: Adam Owen
US House crypto tax package omits mining, staking reward deferral
The 114-page bill would change the tax treatment of crypto fees, stablecoins and lending while leaving existing reward-tax timing unchanged. The US House Ways and Means Committee will consider a 114-page crypto tax package on Wednesday that leaves out a provision that would have allowed miners and stakers to defer taxation of rewards until the …
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Bitmine Nears 5% Ethereum Supply Target With Latest ETH Purchase
TLDR Bitmine Immersion Technologies raised its Ethereum holdings to 5.96 million ETH, worth close to $15 billion. The company now owns about 4.9% of Ethereum’s total supply and is 98% of the way to its 5% target. Bitmine has staked over 5 million ETH through its MAVAN platform, projecting $334 million in yearly staking income. …
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Altcoins gained 21% and still lost ground to Bitcoin. What would finally turn the tables?
Glassnode reported that altcoin market capitalization climbed 21% over the past month, while altcoins’ share of the combined Bitcoin-and-altcoin market fell 0.9 percentage points over 90 days, based on data as of Sept. 7. Capital has moved up the entire crypto ladder together, with Bitcoin absorbing most of the gain while higher-beta tokens held their …
The US Bitcoin reserve faces a crucial bipartisan test Wednesday
The American Reserve Modernization Act (ARMA) would put the federal government’s Bitcoin reserve into law for the first time. But ahead of its first House committee vote on Sept. 16, the bill has attracted just one Democratic cosponsor, and he does not sit on the committee considering it. That goes against Congress’s broader crypto push. …
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Bitcoin self-custody creates a massive cost-basis blind spot on your 2026 crypto tax forms
A Bitcoin investor can withdraw coins from an exchange, return them to the same account, and still fall outside mandatory cost-basis reporting when those coins are sold. For the 2026 US reporting year, the broker can still be required to report sale proceeds, while reporting the acquisition cost remains voluntary. Cost basis, the acquisition cost …
Proposed stablecoin rules might guarantee your dollar while making you wait a week to spend it
When a stablecoin holder receives spendable bank dollars before the issuer redeems the token, a buyer or conversion provider has funded the early exit. If that party keeps the token, it must wait until resale or redemption to get its cash back. The Office of the Comptroller of the Currency’s proposed redemption framework could give …
Goldman, JPMorgan, BofA, Morgan Stanley and More Expect a Fed Hike Tomorrow
More than a dozen banks are expecting the Federal Reserve to raise rates by 25 basis points on Sept. 16. The List UBS, HSBC, Barclays, Citigroup, Wells Fargo, Morgan Stanley, Goldman Sachs, Bank of America and JPMorgan Chase all expect the Federal Reserve to lift rates by 25 basis points (bps) this week. Both JPMorgan …
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Russia Classifies Crypto as Major Risk to Monetary Sovereignty
The Bank of Russia’s latest draft policy document classifies cryptocurrencies and stablecoins as major financial market risks, citing threats to monetary sovereignty, potential complete losses for investors, and their role in enabling shadow markets. Central Bank Identifies Major Crypto Risks The Bank of Russia has categorized cryptocurrencies and stablecoins as major financial market risks in …
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$206M in XRP Just Left an Uphold Wallet. Here’s What Happened Next
A single 145,634,500 XRP transfer worth about $206 million emptied a labeled Uphold wallet on Sept. 14, but onchain records point to an internal custody reshuffle rather than a whale exit. The Alert That Started It Onchain trackers flagged the move as 145,634,500 XRP (valued at $206,551,114) being sent from one wallet to another within …
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Ethereum Whale From 2021 Moves $37M Worth of ETH to OKX at a Loss
Two wallets that had been quiet for more than a year moved 14,700 ETH, worth about $36.94 million, into OKX on Sept. 14, and onchain records show those coins landed in 2021 when they were worth nearly $57 million. The Transfers, Timestamped Analysis firm Lookonchain first flagged the deposits and said the two addresses possibly …
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XRP Rallies 9.8% on CLARITY Hopes; Prediction Markets Aren’t Buying It
XRP climbed as much as 9.8% in the day ahead of Tuesday’s Senate CLARITY Act cloture vote before cooling to $1.41, as futures traders piled fresh leverage into the move. The Numbers XRP spent Sunday pinned near $1.34, but by Monday afternoon it was floating around $1.49, up 9.8% for the day. Since then, the …
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Coinex Is Closing After 9 Years, and Its Founder Won’t Sell It
Coinex, the exchange Haipo Yang launched in December 2017, will end spot trading on Sept. 29 and shut down completely on Dec. 22, blaming a long crypto slump and rising compliance costs. The Calendar Users Need Coinex announced an orderly wind-down on Sept. 14 with four hard dates: Sept. 15: registrations and referral rewards stop, …
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US House Crypto Tax Bill Spares Fees Under $10, but Not Heavy Traders
House Ways and Means Chair Jason Smith unveiled a 114-page crypto tax bill on Monday night that would stop taxing network fees under $10, setting up a committee markup on Wednesday, Sept. 16. What the Bill Actually Changes Bloomberg Government reported that Smith, a Missouri Republican, released the text on Monday night and that it …
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Iowa to Hand $25,000,000 to Residents Harmed by Meta in First Consumer Restitution Fund
Iowa is setting up the first-of-its-kind restitution fund to hand out $25 million to residents hurt by Meta’s practices aimed at children. Attorney General Brenna Bird says the state will use $25 million from its $126 million Meta settlement to pay eligible Facebook and Instagram users. Iowa is the first state in the deal to …