Bitcoin Developers Seek to Prevent Quantum Threat With New Plan

Bitcoin miners are taxed twice by the IRS, unlike other commodity producers, due to outdated guidance from 2014. This double taxation hinders the growth and adoption of bitcoin as a legitimate form of currency, creating unnecessary burdens for both individuals and businesses.

House Republicans were rallied by President Donald Trump to support major crypto bills after a procedural setback. The bills, including the GENIUS Act and the CLARITY Act, faced opposition due to concerns about central bank digital currency implications.

Block Earner, a Sydney-based fintech, introduces Australia's first Bitcoin-backed home loan, allowing borrowers to secure up to 50% of a property's value by locking Bitcoin in custody with Fireblocks. The loan structure enables borrowers to maintain BTC exposure while avoiding liquidation and tax implications.

Bitcoin's recent dip halted its upward trajectory as traders aimed to secure profits amidst uncertain monetary signals and discussions about the potential replacement of Federal Reserve Chair Jerome Powell. On-chain data indicates profit-taking as the main driver, while persistent inflation remains a key concern.

BitMine Immersion Technologies received investment from Peter Thiel's Founders Fund, Pantera Capital, Galaxy Digital, and Kraken. The company appointed Tom Lee as Chairman of the Board and saw its stock price fluctuate significantly.

Cantor Equity Partners 1, led by Howard Lutnick's son, is in talks to acquire nearly $4 billion in crypto, including 30,000 BTC from Blockstream Capital's Adam Back. The deal may also involve raising $800 million for more Bitcoin purchases, following Cantor Fitzgerald's SPAC-backed Bitcoin treasury firm creation in April.

Wintermute's 1H 2025 OTC Market Report reveals a growing divergence between institutional and retail investors in crypto trading. The report shows institutions maintaining larger allocations to Bitcoin and Ethereum, while retail investors are rotating into altcoins. Options trading surged by 412% in the first half of 2025 on Wintermute's OTC desk.

ProShares has introduced two new exchange-traded funds offering increased exposure to XRP and Solana, aiming to provide investors with double the daily returns of these assets. These new products come as issuers expand their crypto-focused offerings to meet investor demand for leveraged funds.

XRP has surged to $2.90, breaking free from a $2.00-$2.50 range, becoming the best-performing top 10 crypto asset. The broader crypto market remains cautiously optimistic, with XRP eyeing its January high of $3.40.