US authorities are investigating Chinese Bitcoin mining hardware giant Bitmain over potential national security risks tied to alleged remote capabilities, according to Bloomberg. The leading Bitcoin mining application-specific integrated circuit (ASIC) manufacturer, Bitmain, which is based in China, is reportedly under investigation in the US over national security concerns. According to a Friday Bloomberg report, an unspecified US official and six other anonymous people familiar with the matter said that Bitmain’s hardware is at the center of a federal investigation known as “Operation Red Sunset.” The investigation, led by the US Department of Homeland Security, reportedly seeks to determine whether the ASICs could be remotely controlled for spying or to sabotage the US power grid. US authorities previously investigated Bitmain-linked Chinese chip designer Xiamen Sophgo over an alleged business relationship with US-sanctioned company Huawei in October 2024. This was followed by the US Customs and Border Pro...
Japan’s stimulus package has shaken global markets, including Bitcoin, while the UK cracks down on Russian money laundering and sanctions evasion with crypto. On Friday, the Japanese government approved a $135-billion (21.3 trillion Japanese yen) stimulus package, mainly aimed at price relief and subsidizing gas and household electricity bills. Prime Minister Sanae Takaichi and her cabinet believe the plan will dampen inflation by 0.7 percentage points on average from February to April. But markets, including crypto markets, are concerned. The yen has significantly weakened against the US dollar, hitting 10-month lows; Japanese government 10-year bond yields reached 1.84% on Thursday, the highest level since the 2008 financial crisis. Major government spending like this stimulus package is likely to lead to the issuance of more bonds, further weakening the yen, which would prompt the Bank of Japan to intervene with rate hikes. That could trigger mass sell-offs in the US. Read more
With short-term holders driving Bitcoin’s sell-off, realized losses are hitting historic levels, leaving investors to wonder where the bottom might be. Bitcoin has taken a slide back to its April level of around $83,000, with mounting selling pressure prompting many investors to sell at a loss, reminiscent of major historic market crashes. Realized losses on Bitcoin (BTC) have surged to levels not seen since the 2022 FTX collapse, according to blockchain data platform Glassnode. “The scale and speed of these losses reflect a meaningful washout of marginal demand as recent buyers unwind into the drawdown,” Glassnode noted in an X post on Friday. Read more
SOL and XRP ETFs have attracted nearly $900 million in combined inflows, highlighting rare investor conviction amid an ongoing market rout. While spot Bitcoin and Ether exchange-traded funds (ETFs) are facing some of the biggest daily outflows since they launch, two new altcoin products are bucking the trend. Despite the broader market rout, Solana (SOL) and XRP (XRP) ETFs have yet to record a single outflow day since launch, according to crypto ETF data aggregator SoSoValue. This makes the two altcoin ETFs rare green marks in an otherwise red ETF landscape. The inflows are becoming substantial. Data shows that Solana-based spot ETFs have accumulated nearly $500 million in net inflows, while XRP ETFs have seen $410 million in cumulative net inflows to date. Read more
As pension funds evaluate Bitcoin’s scarcity, resilience and inflation behavior, a core question emerges: Can BTC become a true institutional store of value? Gold has long met store-of-value standards, while fiat currencies lose purchasing power over time. Bitcoin now meets several of the same store-of-value benchmarks. With a hard cap of 21 million coins and around-the-clock global trading, Bitcoin offers digital scarcity, durability supported by network security and liquidity that rivals many traditional assets. Concerns remain, including short-term volatility, inconsistent global regulations, cybersecurity risks, limited historical data and challenges integrating Bitcoin into traditional investment models. Read more