ETH’s bearish chart setup points to a 25% drop toward $1,600, risking over $10 billion in paper losses for BitMine in the coming weeks. Tom Lee’s BitMine faces about $7.3 billion in paper losses on its Ethereum treasury as Ether (ETH) traders weigh worsening sentiment, ETF outflows and a bearish chart setup pointing toward $1,600. Key takeaways: Bitmine's ETH treasury dashboard. Source: DropStab.COM Read more
A New York Times investigation found that senior CFTC officials who raised concerns about Polymarket, Crypto.com and Gemini were suspended and pushed out. Senior officials at the Commodity Futures Trading Commission (CFTC) who raised concerns about prediction market companies were suspended, investigated and eventually pushed out of the agency. According to a New York Times investigation published Sunday, the officials had flagged concerns about Polymarket, Crypto.com and a Gemini affiliate, each with alleged business ties to President Donald Trump's family. Career staff worried that Crypto.com was not treating small bettors fairly, that Polymarket lacked adequate fraud protections and that Gemini’s affiliate had not completed the required regulatory review to operate. Despite those concerns, then-acting CFTC chair Caroline Pham and her senior counsel intervened to help the firms get what they wanted, sources told the NYT. By the end of 2025, two officials who had raised questions were placed on administrativ...
William Mougayar says critics are measuring the Ethereum Foundation by the wrong standard, claiming it was never meant to pump ETH or court institutions. A blockchain researcher has pushed back against growing criticism of the Ethereum Foundation, arguing that the organization is doing “exactly” what it was designed to do, which the critics keep getting wrong. In a post on X titled “Leave the Foundation Alone,” William Mougayar, a Toronto-based blockchain investor, researcher and best-selling author, argued that the Ethereum Foundation is a protocol steward, not a marketing engine. Mougayar said that Ether (ETH), Ethereum and the Ethereum Foundation are three separate entities with three separate trajectories. “The asset is money. The infrastructure is shared compute. The Foundation is a non-profit that is steering the protocol toward irrelevance for its own founders,” he wrote, adding that confusing the three leads to bad predictions and misplaced anger. Read more
Rising short-term bond yields and Warsh's hawkish comments in the past are reviving fears of a December rate hike, which could slam the brakes on Bitcoin's recovery. Bitcoin (BTC) fell to $74,190 on Saturday, its lowest level in more than a month, despite pro-crypto Kevin Warsh being sworn in as Federal Reserve chairman a day earlier. BTC/USD daily chart. Source: TradingView Read more