Being able to strategically raise capital by having shares ready to issue was one of the secondary reasons Lee gave for the proposal. Tom Lee, chairman of publicly listed Ether treasury company BitMine, urged shareholders to back a proposal to dramatically increase the company’s authorized share count to 50 billion from 50 million, citing the potential need for future stock splits as Ether’s price drives the the company’s valuation. Lee said BitMine’s share price closely tracks the price of Ether (ETH), and that he modeled potential future valuations using the ETH/Bitcoin ratio. According to Lee, ETH could reach $250,000 if Bitcoin (BTC) climbs to $1 million, a scenario that would push BitMine’s share price to levels he said would be inaccessible for most retail investors. BitMine shifted from operating as a Bitcoin mining and holding company to an ETH treasury strategy in 2025, but it still retains some of its Bitcoin operations. Read more
Onchain data shows Bitcoin whale accumulation is overstated as exchange activity skews metrics, while long-term holders quietly turn bullish. Speculation that Bitcoin whales are engaged in a massive reaccumulation phase has been significantly overstated, suggesting the digital asset market structure has not materially changed, according to onchain data from CryptoQuant. The popular narrative that large holders are aggressively buying Bitcoin (BTC) is misleading, said Julio Moreno, head of research at CryptoQuant. Much of the publicly shared “whale accumulation” data is distorted by exchange-related activity rather than genuine investor behavior. Cryptocurrency exchanges routinely consolidate funds from many smaller wallets into fewer large ones for operational and regulatory reasons. This process artificially increases the number of wallets holding very large balances, leading onchain trackers to misclassify the activity as whale accumulation. Read more
Bitcoin bears might have the upper hand at the yearly open, but charts suggest bulls will fiercely defend these key price levels. Key points: Bitcoin is bearish in the short term and could plunge to $50,000 if the $74,508 level is breached. The short-term trend is likely to turn bullish above $100,000, opening the doors for a rally to $126,199. Read more
The incident is potentially related to December's Trust Wallet hack, which left users drained of $7 million in cryptocurrency. An attacker has drained "hundreds” of crypto wallets on Ethereum Virtual Machine (EVM) chains, siphoning small sums from each victim in what onchain investigator ZachXBT described as a broad but low-value exploit. The losses appear limited on a per-wallet basis, with each victim losing less than $2,000, according to ZachXBT. The activity has affected wallets on several EVM-compatible networks, indicating a widespread incident rather than isolated to a single blockchain. A fraudulent email disguised as legitimate communication from Web3 wallet MetaMask could have been the vehicle for the attack, said cybersecurity researcher Vladimir S., who cited a clue left by another pseudonymous X user. Read more
Crenshaw’s exit leaves the SEC without Democratic representation as the agency and other US financial regulators face leadership gaps. Caroline Crenshaw, the sole Democratic member leading the US Securities and Exchange Commission (SEC), will be departing the agency this week after serving more than five years. Crenshaw is expected to depart the SEC by Saturday, marking 18 months after her term ended in June 2024. Commissioners are permitted to continue work at the agency, provided the Senate has not confirmed a replacement. The Democratic commissioner, who was sworn into office in August 2020, has often been critical of the agency’s approach to digital assets. She spoke out against the SEC settling its enforcement case with Ripple Labs, and warned that weakening regulations on digital assets could lead to “significant market contagion.” Read more
BitVentures has launched a US-based crypto mining operation weeks after rebranding, marking its first operational move into digital assets after years of losses. BitVentures Limited has entered the cryptocurrency mining sector, launching a new digital assets business less than two weeks after rebranding to reflect its new focus on blockchain-related ventures. The Hong Kong–based technology company said it has acquired fleets of mining hardware from Bitmain, including three types of Antminer machines, to mine Bitcoin (BTC), Litecoin (LTC) and Dogecoin (DOGE), according to a Friday report from Investing.com. The company said the acquisition includes 0.5 megawatts of power capacity across data centers in the United States, with deployment of the mining equipment expected later this month. Read more