Category: Bitcoin News

Bitcoin Sell-Off Pushes IBIT Investor Returns Into the Red, CIO Says

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Bitcoin’s sharp decline over the weekend has likely pushed the aggregate investor position in the largest spot Bitcoin exchange-traded fund (ETF) into negative territory, underscoring the severity of the recent downturn. According to Bob Elliott, chief investment officer at asset manager Unlimited Funds, the average dollar invested in BlackRock’s iShares Bitcoin Trust (IBIT) is now underwater following Friday’s close. The shift coincided with a steep drop in Bitcoin’s (BTC) price, which slid into the mid-$70,000 range. Source: Bob Elliott Elliott shared a chart tracking aggregate, dollar-weighted investor returns, showing cumulative…

Bitcoin Adds to Bear Market Worries as $49K Becomes a Target

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Bitcoin (BTC) gained sub-$50,000 ahead of Sunday’s weekly close as bulls failed to recover from ten-month lows. Key points: BTC price targets stay bearish as Bitcoin bulls lick their wounds at ten-month lows. CME futures gaps may provide some temporary relief into the new week. Bitcoin is still following the path from earlier bear markets by losing realized price support, says research. BTC price: “So far, history is repeating” Data from TradingView showed BTC price action staying below $80,000 after BTC/USD fell more than 6% the day prior. BTC/USD one-hour…

SBF Ramps Up Donald Trump Support After Ellison Release

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Disgraced FTX founder Sam Bankman-Fried has ramped up his social media praise for US president Donald Trump while taking aim at former president Joe Biden, just days after Caroline Ellison, the former CEO of Alameda Research, was released from federal custody. Since Bankman-Fried’s February 2025 interview with the New York Sun and March appearance with political commentator Tucker Carlson, many see Bankman-Fried as angling for a pardon from Trump. “@realdonaldtrump is right on crypto,” Bankman-Fried said in an X post on Friday, just days after Ellison walked free after serving…

BitMine Faces $6B Unrealized Ether Loss as Crypto Sell-Off Deepens

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BitMine Immersion Technologies, a publicly traded cryptocurrency treasury company linked to investor Tom Lee, is carrying significant unrealized losses on its Ether holdings following the latest wave of market liquidations, underscoring the risks facing crypto balance-sheet strategies during sharp downturns. After acquiring an additional 40,302 Ether (ETH) last week and increasing its total holdings to more than 4.24 million ETH, BitMine’s unrealized losses have grown to over $6 billion, according to data from Dropstab, a platform that tracks digital asset prices and portfolio valuations. Based on current market prices, BitMine’s…

How CoreWeave and Miners Pivoted

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CoreWeave’s transformation from a crypto-mining operator to a large-scale AI infrastructure provider highlights a broader shift in how computing resources are reused across technology cycles. In its latest newsletter, The Miner Mag outlined how Ethereum’s move away from proof-of-work reduced demand for GPU-based mining, pushing companies like CoreWeave to redeploy hardware toward AI training and other high-performance computing workloads as demand for compute began to rise. As Cointelegraph previously reported, CoreWeave began moving away from crypto mining as early as 2019, shifting first into cloud and high-performance computing before fully…

US Treasury Sanctions Iran-Linked Crypto Exchanges for First Time

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The United States Treasury has sanctioned two cryptocurrency exchanges linked to Iran’s financial system, marking the first time Washington has directly targeted digital asset platforms as part of its Iran sanctions program. In a statement on Friday, the Treasury Department’s Office of Foreign Assets Control (OFAC) said the sanctions are part of a wider move against Iranian officials and networks accused of violently suppressing people at home while using alternative financial channels to get around international sanctions. Among those sanctioned was Eskandar Momeni Kalagari, Iran’s minister of the interior, who…

Crypto Billionaires Target California Wealth Tax With $40M Political Push

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Two high-profile crypto figures are preparing to pour tens of millions of dollars into California politics, aiming to reshape the state Legislature by backing moderate, business-friendly candidates and countering the influence of labor unions. The effort, operating under the banner of Grow California, is backed by Chris Larsen, a longtime Democratic donor and co-founder of Ripple, and Tim Draper, a venture capitalist known for his support of Bitcoin (BTC), according to The New York Times. “The government unions do a great job,” Larsen reportedly told the outlet. “But that’s going…

European Commission Calls on 12 Countries to Implement Crypto Tax Rules

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The European Commission said it will send formal notices to 12 countries for failing to fully implement the EU’s tax reporting rules for digital assets. In its January infringements package released on Friday, the commission, which serves as the European Union body responsible for proposing legislation and ensuring member states follow certain laws and regulations, said Belgium, Bulgaria, Czechia, Estonia, Greece, Spain, Cyprus, Luxembourg, Malta, the Netherlands, Poland and Portugal would face letters of formal notice “to fully implement the new tax transparency and information exchange rules on crypto-assets.” Citing…

Coinbase and JPMorgan CEOs Clashed over Market Structure Bill at Davos

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JPMorgan Chase CEO Jamie Dimon reportedly confronted Brian Armstrong during a coffee chat at Davos last week, telling the Coinbase CEO to stop lying about banks trying to sabotage the digital asset market structure bill under consideration in the US Congress. According to a Thursday report from The Wall Street Journal, the confrontation between Dimon and Armstrong occurred at the World Economic Forum last week when the Coinbase CEO was having coffee with former UK Prime Minister Tony Blair. Dimon reportedly interrupted Armstrong, saying the CEO was “full of s—,”…

CZ Rejects Claims Binance Fueled Historic Crypto Liquidation Crash

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Former Binance CEO Changpeng “CZ” Zhao has pushed back against allegations that the cryptocurrency exchange played a role in the largest liquidation event in crypto history, a sell-off whose effects are still rippling through markets more than three months later. Speaking during a Q&A session on Binance’s social media channels, Zhao denied that Binance was a major contributor to the record wave of forced liquidations on Oct. 10, when roughly $19 billion in positions were wiped out across the crypto market. Zhao described claims that Binance was responsible for the…