Bitmine nears 5% ETH ownership goal

Bitmine (BMNR) bought 111,942 ETH this week at depressed prices stating: “We view the recent pullback of ETH to below $2,200 as an attractive opportunity.” The company’s holdings now total 5.39 million ETH worth $11.4 billion and 89% of its stated goal to own 5% of Ethereum's supply. Read more →

So much for the 1 million BTC target… A leaked draft of the American Reserve Modernization Act – the bill we covered last week that would codify Trump’s strategic bitcoin reserve – reportedly scraps the hard commitment for the U.S. to acquire up to 1 million bitcoin over five years. Instead, the bill would direct Treasury and Commerce to study whether additional bitcoin can be acquired through “budget-neutral” methods, including forfeitures, tariff revenue, converting non-bitcoin assets, state partnerships, and even gold certificate revaluations. The harder commitment is on custody, not buying – bitcoin placed in the reserve would be locked up for at least 20 years. Read more →

A NYT investigation says the CFTC has sharply pulled back from crypto and prediction-market enforcement just as those industries are gaining power in Washington. The report claims senior career officials who raised concerns about Polymarket, Crypto*com and a Gemini affiliate — all with some form of Trump-family business connection — were put on leave, investigated, demoted or pushed out, while agency leaders helped those firms win approvals or avoid scrutiny over staff objections. Read more →

That’s just the way the cookie crumbles in Washington. One year, it’s your job to punish any crypto firm in existence (although these same “senior” officials probably whiffed on FTX). A couple years later, your role is somewhat reversed and, oh, you’re fired too.

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