Crypto News
Bitcoin mining 2025: Post-halving profitability, hashrate and energy trends
After the 2024 halving, Bitcoin mining entered its fifth epoch and block rewards were reduced from 6.25 BTC to 3.125 BTC. This forced miners to rethink their operations, optimize efficiency, cut energy costs and upgrade hardware to remain profitable. Cointelegraph Research, with insights from industry experts at Uminers, examines this transformation in its latest report. The analysis covers ASIC efficiency improvements, corporate performance, geographical expansion and new revenue models. As miners adapt, Bitcoin moves into a new era where institutional momentum and sovereign adoption could redefine its role in the global financial system.Download the full report to uncover how miners are navigating this shift and what the future holds for Bitcoin’s mining industry.The mining industry’s response to rising hashrate and shrinking marginsDespite the adverse financial impact of the halving, Bitcoin’s network hashrate has continued to climb. As of May 1, 2025, the total computational power of the network reached 831 EH/s. Earlier in the month, hashrate peaked at 921 EH/s, marking a 77% increase from the 2024 low of 519 EH/s. This rapid recovery underscores the industry's relentless drive for efficiency as larger mining firms reinvest in fleet upgrades and energy optimization to maintain profitability.The mining arms race has always revolved around power efficiency. With energy costs rising, the latest ASIC models from Bitmain, MicroBT and Canaan are further optimizing the energy required per hash. Bitmain’s Antminer S21+ delivers 216 TH/s at 16.5 J/TH, while MicroBT’s WhatsMiner M66S+ pushes immersion-cooled performance to 17 J/TH. Meanwhile, semiconductor giants TSMC and Samsung are driving the next wave of innovation, with 3-nm chips already in use and 2-nm technology on the horizon. Download the full report to uncover how miners are navigating this shift and what the future holds for Bitcoin’s mining industry.Post-halving profitability: The global shift toward low-cost energyBitcoin mining profitability has tightened significantly post-halving. Hashprice, the daily revenue per terahash per second, dropped from $0.12 in April 2024 to about $0.049 by April 2025. At the same time, network difficulty has surged to an all-time high of 123T, making it harder for miners to generate returns. To stay competitive, operations must extract maximum value from every watt of power consumed. This shift has intensified the search for cheap, reliable power, driving mining expansion into regions where energy costs remain low.Electricity pricing now dictates mining profitability. In Oman, licensed miners benefit from government-backed subsidies, securing electricity at $0.05–$0.07 per kWh, while in the UAE, semi-governmental projects operate at even lower rates of $0.035–$0.045 per kWh. These incentives have turned the region into a prime destination for institutional-scale mining. Meanwhile, in the US, where industrial power costs often exceed $0.1 per kWh, miners face shrinking margins, forcing a migration toward more cost-efficient locations. Africa, the Middle East and Central Asia have emerged as key battlegrounds in this race, offering the energy arbitrage opportunities miners need to survive.What’s next for Bitcoin mining?The 2024 halving has reinforced a hard truth: Efficiency is no longer optional; it’s a necessity. The industry is shifting toward leaner, more optimized operations, where only the most power-efficient miners can thrive. The rise of AI computing, global regulatory shifts and ongoing hardware advancements will continue to shape the sector over the next 12–18 months.Cointelegraph Research’s Bitcoin mining report: Post-halving insights and trends offers a data-driven breakdown of the key forces shaping mining profitability, infrastructure investments, and strategic decision-making.Download the full report to uncover how miners are navigating this shift and what the future holds for Bitcoin’s mining industry.This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph. Cointelegraph does not endorse the content of this article nor any product mentioned herein. Readers should do their own research before taking any action related to any product or company mentioned and carry full responsibility for their decisions.
Published Date: 2025-05-15 13:59:32Creator: Cointelegraph by Kyrian Alex
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Tron’s USDT supply to surpass Ethereum’s with new $1B mint
Stablecoin issuer Tether minted another 1 billion USDt tokens on Tron, pushing the network’s authorized USDT supply to surpass Ethereum’s.On May 15, blockchain data showed that Tether’s treasury minted $1 billion of its dollar-pegged stablecoin, USDt (USDT), into the Tron network. As of May 14, Tether’s stablecoin transparency page shows that Tron’s authorized USDT totals $73.7 billion, while Ethereum has $74.5 billion in authorized USDT tokens. If the newly minted tokens are added to the number of authorized USDT assets, Tron’s supply surpasses Ethereum’s. In terms of circulating supply, Tron also has the lead with $73.6 billion USDT on the network, while Ethereum only has $71.8 billion. Source: PeckShieldAlertTether’s USDT mints replenish the company’s token inventoryTether CEO Paolo Ardoino previously said on X that some of the company’s blockchain-based USDT mints are used to replenish their USDT inventory on blockchain networks. This means the tokens will be used for the next batch of issuance requests and chain swaps. In traditional business settings, inventory replenishment requires stock orders to meet demands. Similarly, Tether may mint USDT to maintain a sufficient supply and hold on to the assets until they are issued officially. This ensures that the firm’s liquidity management is smooth. This means that the authorized USDT supply on a network indicates the stablecoin issuer anticipates future issuance demand of the stablecoin on a blockchain. Related: Altcoins’ roaring returns and falling USDT stablecoin dominance suggest ‘altseason’ is hereEthereum and Tron battle for USDT supply dominanceTron led USDT circulation between July 2022 and November 2024. CryptoQuant data showed that an $18 billion USDT mint on Ethereum pushed the network ahead in 2025. Tron’s USDT supply quickly caught up, with the latest mint pushing it past Ethereum again. According to Tether’s transparency page, Solana has the third-biggest supply of USDT in the market, with $2.3 billion authorized on the network. Avalanche has $1.8 billion in authorized USDT, making it the fourth-largest. While Avalanche has over $1 billion in authorized USDT, the network has a net circulation of only $752 million in tokens. The Open Network, Aptos, Near, Celo and Cosmos have smaller authorized and circulating USDT supplies. CoinGecko data shows that Tether’s total circulation is at a record high of $150 billion, a 9.4% increase over its supply at the start of 2025. This gives the stablecoin issuer 61% of all the USD stablecoins in the market. Circle, its closest competitor, has $60.4 billion in stablecoins, giving it a market share of 24.6%, according to CoinGecko. Magazine: Danger signs for Bitcoin as retail abandons it to institutions: Sky Wee
Published Date: 2025-05-15 13:40:26Creator: Cointelegraph by Ezra Reguerra
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Tariff flux pushes brands to bet big on digital merch
As more and more businesses are impacted by tariff volatility, some executives, like Ridhima Kahn, vice president of business development at Dapper Labs, are viewing the assault on the cost of physical goods as another use case for digital markets powered by blockchain to shine.“I’m seeing a lot of brands rethinking where revenue and fan engagement come from,” Kahn said during an exclusive interview with Cointelegraph. “A lot of franchises, like the ones we work with — NBA, NFL, Disney — have already had years of success with digital collection, and we’re seeing a lot of brands express interest in digital collectibles as a way to engage with fan bases at a time when physical costs are riskier and unknown.”Propelling brands to take a deeper look at digital merch is the desire to better understand fandom. Flow now has tradable highlights like a “LeBron Dunk” or a “Steph Curry 3-Pointer” that live inside the NBA app and has commemorative NFTs tied to NFL game highlights in NFL All Day.But with Super Bowl ticket stubs and other digital mementos powered by blockchain, digital goods are proving they can unlock deeper in real life (IRL) fan experiences, courtside or on the field.“When you look at the amount of time folks are spending online or in digital environments, it’s only increasing,” Kahn said. “That’s really motivating brands to identify where their fans are spending time and where they can reach them where they’re at. It’s also a great way to engage a more global fan base simultaneously, versus in a more limiting, geo-targeted way, which caters more toward the global fan bases that want to engage with these brands.”Digital as a go-to-market strategyBecause fan bases have become more globalized, the online experience just happens to offer a faster, more accessible environment for digital goods, particularly collectibles, versus the current marketplace for physical goods that’s being hampered by enigmatic tariffs.Related: Are Donald Trump’s tariffs a legal house of cards?“Average NFT sales are up 7% quarter-over-quarter, with NFL All Day and NBA Top Shot delivering $2.5 million and $5.6 million, respectively,” Kahn said. “We’re also seeing total value locked (TVL) at an all-time high of $44.4 million on Flow, led by protocols like KittyPunch and other markets that offer next-gen investing and trading opportunities — a trend that’s signaling a broadening use case for blockchain and crypto beyond just NFTs.”Helping broaden the blockchain use case is the recently enhanced onramping and offramping technology that’s permeated throughout the industry, enabling a smoother user experience for those getting started in crypto and the world of digital commodities than what was available three years earlier.Per Kahn:A lot of blockchain companies are realizing the number of users they can have is capped if they don’t enhance the user experience. We’re seeing the enhanced user experience as a core driver of adoption, and from a regulatory standpoint, the positive moment for blockchain is also really exciting.NBA Top Shot sales have dropped significantly since 2022, but the start of the 2024-2025 season reignited interest. Source: FlowLess fear, more utility As more defined blockchain regulation is established, companies that might have initially been skeptical of blockchain are now taking it more seriously because regulators are taking it more seriously, helping boost confidence in the tech, especially among well-known brands.“IP-backed collections are winning,” Kahn said. “Upon Flow’s recent integration with OpenSea, NBA Top Shot was ranked among OpenSea’s top-five trending collections for four consecutive weeks. We go deep into specific fan bases to understand user behavior, and we A/B test our experiences, meaning the products we ultimately put out to market for fans are very well-vetted to ensure they’re actually what fans want.”Kahn and Dapper Labs CEO Roham Gharegozlou took a group of VIP collectors during the NBA’s in-season tournament to dinner and openly solicited their opinions on what they wanted to see more of on the platform. It’s the kind of swift, efficient, real-life research and development (R&D) that can more easily impact the end product, because the end product is digital.Related: 4chan rises from the dead: How the imageboard moves crypto markets“We take those insights back to our product team, and we embed those insights into our product to ensure we’re creating the best fan experience, agnostic of the technology we’re using to get there,” Kahn said. “It’s about what the fans want, and we leverage blockchain technology to deliver the fan experiences people might not be able to get elsewhere.”Elsewhere being the physical goods market.“The technology in our products really fades into the background, and what’s left is a collectible that feels meaningful, shareable and valuable,” Kahn said. “Digital collectibles unlock layers of engagement that physical goods cannot: They can be personalized, connected to real-world access, or used to reward loyalty for years and years to come. They’re also remixable, lightweight and global from day one.”But Khan doesn’t believe the physical goods market is going to go by the wayside anytime soon.I don’t think brands are turning their backs on merchandise. It’s more about expanding the playbook and looking to one of the few revenue streams immune to the volatility of physical goods as a way to engage with fans further.Outside of the internet, sports and media fans are limited to where they are physically when it comes to purchasing a physical good and where they can take that physical good. But Kahn believes the next evolution of fandom is mobile.“We love the concept of being able to take your most prized possessions with you on your phone, wherever you are,” Kahn said. “Being limited to trading in a physical environment isn’t nearly as fun as being able to trade wherever you are with people all across the world.”Moving forward, Kahn believes brands will continue to expand their playbooks by engaging more with fans in digital spaces.“Consumers are also going to be more willing to adopt new ways to engage with brands in digital spaces if the value proposition is there,” Kahn said. “If we’re able to continue to offer utility to fans for what they do in a digital space — and what they do in a digital space benefits them in a physical world — that’s going to be the recipe for success.”Magazine: Crypto ‘more taboo than OnlyFans,’ says Violetta Zironi, who sold song for 1 BTC
Published Date: 2025-05-15 13:38:54Creator: Cointelegraph by Stephen Laddin
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Bitcoin Season 2: Why the next wave of Bitcoin innovation is all about utility
Bitcoin’s (BTC) next evolution isn’t just about price. It’s about potential. On this week’s episode of The Clear Crypto Podcast, hosts Nathan Jeffay and Gareth Jenkinson sit down with Isabel Foxen Duke, general partner at Unbroken Chain and longtime Bitcoin advocate, to unpack what she calls “Bitcoin Season 2.”Bitcoin beyond money“Bitcoin Season 2 is really about seeing what we can do with Bitcoin outside of just being money,” said Duke. “What are the broad range of financial use cases for [Bitcoin] other than just being money by itself?”New developments like ordinals, runes, and decentralized financial (DeFi) tools are pushing Bitcoin beyond its traditional identity as a digital store of value. One key innovation under discussion is trustless lending — allowing users to borrow against their Bitcoin without involving third-party intermediaries. “We don’t have the ability to lend against our Bitcoin in a trustless way without third-party intermediaries,” Duke said. “I would argue that is the second most important and second most used use case in the real world other than making payments.”Lending on BitcoinOne emerging solution involves Discreet Log Contracts (DLCs), which let users maintain control of their Bitcoin while locking it as collateral. Smart contract logic enforces repayment, not a central authority. “That’s proven by math rather than trust,” Duke said.Related: Bitcoin looks ‘ridiculous’ as bulls attempt $2T market cap flip — AnalystDuke said she is equally excited about trustless bridging, which could allow Bitcoin to interact with external computation platforms without compromising its decentralized ethos. “If you could use Bitcoin not just as money but as a base asset that can trustlessly plug into any financial system, that would be… the end of the road for this asset.”Looking ahead, Jenkinson highlighted how Bitcoin-native DeFi could unlock real-world financial access for people excluded from traditional banking. “A few little changes to some lines of code might just unlock [permissionless finance] for all of us,” he said. “And that’s the kind of future I’m hopeful about.”To hear the full conversation on The Clear Crypto Podcast, listen to the full episode on Cointelegraph’s Podcasts page, Apple Podcasts or Spotify. And don’t forget to check out Cointelegraph’s full lineup of other shows! Magazine: ZK-proofs are bringing smart contracts to Bitcoin — BitcoinOS and Starknet
Published Date: 2025-05-15 13:30:00Creator: Cointelegraph by Savannah Fortis
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6 signs predicting $140K as Bitcoin's next price top
Key takeaways:Bitcoin’s price is retracing, but strong ETF inflows, high network activity and whale accumulation suggest BTC is on track to $140,000.Spot Bitcoin ETFs saw $2.9 billion in net inflows in two weeks, mirroring past rallies.Declining exchange balances and a rising transaction volume Z-score suggest increasing overall demand.Bitcoin (BTC) price was down 1.4% over the last 24 hours. It traded 6% below its all-time high of $109,000, reached on Jan. 20. Nevertheless, several fundamental, onchain and technical metrics suggest that Bitcoin’s upside is not over.Spot Bitcoin ETF inflows mirror past BTC ralliesBitcoin’s latest recovery was accompanied by strong investor appetite for spot Bitcoin exchange-traded funds (ETFs), which recorded $2.9 billion in net inflows over the last two weeks.The chart below shows that after the launch of the US-based spot Bitcoin ETFs in January 2024, these investment products saw net inflows of about $8.5 billion between Feb. 13, 2024, and March 13, 2024, peaking at a record single-day inflow of $1.045 billion on March 12, 2024.Spot Bitcoin ETF flows. Source: Glassnode Similarly, between Nov. 6, 2024, and Dec. 16, 2024, cumulative daily inflows hit $5.7 billion, aligning with Bitcoin’s 60% rally from $67,000 to $108,000 over the same period. If ETF inflows continue, Bitcoin is likely to resume its uptrend toward new all-time highs. Bitcoin market volatility index: risk-onIncreased inflows into spot Bitcoin ETFs signal high risk-on sentiment, as evidenced by a drop in the CBOE Volatility Index (VIX), which measures 30-day market volatility expectations.Bitcoin network economist Timothy Peterson highlighted that the VIX index has dropped substantially to 18 from 55 over the past 25 trading days.A VIX score below 18 implied a “risk-on” environment, favoring assets like Bitcoin. The analyst said:“This will be a 'risk on' environment for the foreseeable future.”CBOE Volatility Index. Source: Timothy PetersonPeterson’s model, which has a 95% tracking accuracy, predicted a $135,000 target within the next 100 days if the VIX remains low.Strong Bitcoin accumulation continuesReinforcing the risk-on sentiment are Bitcoin whales, who have been increasing their holdings even as the price rallied. Glassnode data shows the Bitcoin Accumulation Trend Score (ATS) at 1 (see chart below), which signifies intense accumulation by large investorsAccording to Glassnode, the spike in trend score indicates a transition from distribution to accumulation across almost all cohorts. This shift mirrors a similar accumulation pattern observed in October 2024, which preceded Bitcoin’s rise from $67,000 to $108,000, spurred by US President Donald Trump’s election victory.Bitcoin accumulation trend score. Source: GlassnodeAdditional data from Santiment reveals that addresses holding between 10 BTC and 10,000 BTC have accumulated 83,105 more BTC in the past 30 days.In a May 13 post on the X social platform, Santiment said,“With the aggressive accumulation from these large wallets, it may be a matter of time until Bitcoin's coveted $110K all-time high level is breached, particularly after the U.S. and China tariff pause.”Bitcoin 10-10,000 BTC chart holdings. Source: SantimentOverall, this is a positive sign as continued accumulation signals bullish sentiment among this cohort of investors.Related: Bitcoin looks ‘ridiculous’ as bulls attempt $2T market cap flip — AnalystDeclining Bitcoin balance on exchangesBTC balance on exchanges reached a six-year low of 2.44 million BTC on May 15. According to the chart below, more than 110,000 BTC have been moved off exchanges over the last 30 days. BTC reserve on exchanges. Source: CryptoQuantDecreasing BTC balances on exchanges means investors could be withdrawing their tokens into self-custody wallets, indicating a lack of intention to sell in anticipation of a future price increase.Increasing network activityBitcoin’s potential to rise is supported by increased network activity, as highlighted by crypto investor Ted Boydston in a May 15 post on X. The Bitcoin transaction volume Z-score measures the difference between the current transaction volume and the average. It is often used to gauge network activity and market interest.The chart below shows the metric has risen sharply from the negative zone and is approaching 1. A rising transaction volume Z-score, especially when it approaches or exceeds 1, is historically associated with Bitcoin price rallies.“This is a good sign for Bitcoin price acceleration,” remarked Boydston, adding:“Bitcoin should be full bull once the Z-score breaches 1.”Source: Ted BoydstonBTC rounded bottom pattern targets $140KFrom a technical perspective, Bitcoin’s price has formed a rounded bottom chart pattern on the daily chart (see below). Bulls are now focused on pushing the price above the neckline of the governing chart pattern at $106,660.A daily candlestick close above this level would confirm a bullish breakout from the rounded bottom formation, ushering BTC into price discovery with the technical target set at $140,000, or a 37% increase from the current level.BTC/USD daily chart. Source: TradingViewThe relative strength index, or RSI, is at 70, and a bullish cross from the SMAs suggests that the market conditions still favor the upside, which can top out at even higher than $140,000. As Cointelegraph reported, BTC price had broken out of a bull flag in the weekly timeframe, projecting a rally to $150,000.This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Published Date: 2025-05-15 13:15:00Creator: Cointelegraph by Nancy Lubale
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Bahrain-based AlAbraaj Restaurants adopts Bitcoin treasury strategy
A Bahrain-based, listed catering company with a $24.2 million market cap has adopted a Bitcoin treasury strategy in partnership with investment firm 10X Capital.According to a May 15 announcement, AlAbraaj Restaurants Group partnered with 10X Capital to adopt a Bitcoin (BTC) treasury strategy similar to top corporate BTC holder Strategy (previously known as MicroStrategy). The firm also aims to explore Sharia-compliant access to Bitcoin for the Islamic world.“Our initiative to become a Bitcoin treasury company reflects our forward-looking approach and our commitment to enhancing shareholder value,” said Abdullah Isa, head of AlAbraaj’s Bitcoin Treasury Committee.Isa added that the company believes “Bitcoin will play a central role in the future of finance.” He cited Strategy’s legacy as an inspiration:“We look forward to building the ‘MicroStrategy of the Middle East’ with their support.”Related: Strive to become Bitcoin treasury companyA photo shared by the company on X shows a meeting between a company representative and Strategy chairman Michael Saylor.Source: AlAbraaj Restaurants GroupCompany makes initial Bitcoin purchaseAlAbraaj Restaurants Group made an initial investment of 5 BTC and announced the intention to keep accumulating more. The decision is reportedly a response to the evolving financial landscape and growing institutional interest.The company plans to allocate a significant portion of its corporate treasury to Bitcoin, making it its primary reserve asset. AlAbraaj said it prides itself on being profitable, with $12.5 million of earnings before interest, taxes, depreciation and amortization reported in 2024.The company also said it hopes to strengthen its portfolio and expand into the finance industry. As part of this initiative, it plans to develop its own Sharia-compliant financial instruments to tap the Islamic market.Related: Blockchain is the best fintech to ensure Sharia ethics — Web3 execBacked by 10X CapitalThe firm’s partnership with 10X Capital eases its introduction into the Bitcoin market and digital asset treasury management. The same company advised Nakamoto in its recent $710 million raise.On May 12, healthcare services provider KindlyMD merged with Bitcoin-native holding company Nakamoto Holdings to form a BTC treasury also named Nakamoto. David Bailey, a crypto adviser to US President Donald Trump, founded the latter company.AlAbraaj Restaurants Group plans to rely on 10X Capital to help it raise more capital to acquire additional Bitcoin, increasing the BTC-per-share ratio for investors. 10X Capital CEO Hans Thomas highlighted that the deal provides potential Bitcoin exposure to the entire Gulf Cooperation Council:“The GCC has a combined GDP of over $2.2 trillion — larger than Canada, Russia, Italy, Brazil, Australia, South Korea, or Spain — and sovereign wealth exceeding $6 trillion, yet until now, lacked a public Bitcoin treasury company like MicroStrategy.“Magazine: Rise of MicroStrategy clones, Asia dominates crypto adoption: Asia Express 2024 review
Published Date: 2025-05-15 12:51:13Creator: Cointelegraph by Adrian Zmudzinski
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Bitcoin to $1M by 2028 as Hayes tells Europe to ’get your money out’
Key points:US Treasurys and foreign capital “repatriation” make a recipe for $1 million BTC, says Arthur Hayes.Europeans face tightening capital controls, inviting a recommendation to take back control of personal funds.Seven-figure BTC price targets are already gaining traction.Bitcoin (BTC) will shoot to $1 million in just three years, thanks to global macroeconomic shifts, Arthur Hayes forecasts.In his latest blog post released on May 15, the former CEO of crypto exchange BitMEX doubled down on his sky-high BTC price prediction.Hayes: $1 million Bitcoin due “between now and 2028”Bitcoin has two strong tailwinds that will help propel it to seven digits in a few years.For Hayes, shifting capital controls worldwide and US Treasury “devaluation” means that Bitcoin will become the go-to safety net for investors everywhere.He summarized:“Foreign capital repatriation and the devaluation of the gargantuan stock of US Treasurys will be the two catalysts that will power Bitcoin to $1 million sometime between now and 2028.”TLT US exchange-traded fund indexed in gold, Bitcoin (screenshot). Source: Arthur Hayes/SubstackWhile that date may appear arbitrary and demand 900% BTC price gains, Hayes argued that the financial landscape could change in an instant, depending on the next US governmental administration.“I say 2028, because that is when the next US presidential election occurs and who knows what type of politician will win and what policies they will enact,” he said.While the presidency of Donald Trump has enacted various pro-crypto policies, this could begin to reverse if a shift in government were to occur. In Europe, meanwhile, an increasing desire to control and even suppress crypto use by the general population signals a growing divergence.“Not even China has banned the private ownership of Bitcoin because it knows it’s counterproductive and impossible,” Hayes wrote. “For you Euro-poor-peans, whose governments practice a less effective form of communism than China, don’t expect the European Central Bank (ECB) to learn this lesson without trying. Therefore, get your money out now!”Betting on a seven-figure breakoutAs Cointelegraph reported, Hayes has not been shy about predicting both short-term and longer-term BTC price expansion in the years to come.Related: Bitcoin looks ‘ridiculous’ as bulls attempt $2T market cap flip — AnalystIn April, he foresaw the return to $100,000, and before that, joined those seeing the mid-$70,000 zone as a likely local bottom.Multimillion-dollar targets for the next decade include those of major financial players such as Fidelity Investments.Michael Saylor, CEO of business intelligence firm Strategy, which has the world’s largest Bitcoin treasury of any public company, said this week that he envisaged a $10 trillion valuation.“My forecast for 2045 is 13 million a Bitcoin,” he added.This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Published Date: 2025-05-15 12:21:26Creator: Cointelegraph by William Suberg
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Jim Chanos takes opposing bets on Bitcoin and Strategy
Prominent short-seller Jim Chanos, once a vocal critic of Bitcoin and cryptocurrencies, revealed a new trading play that involves shorting shares of Strategy (formerly MicroStrategy) and buying Bitcoin.At the Sohn Investment Conference in New York, Chanos told CNBC he’s “selling MicroStrategy stock and buying Bitcoin.” The investor described the move as buying something for $1 and selling something for $2.50, referring to what he sees as a significant price mismatch.Chanos argued that Strategy is selling the idea of buying Bitcoin (BTC) in a corporate structure, and that other companies are following suit in hopes of receiving a similar market premium.Chanos said this was “ridiculous.” He described his trade as “a good barometer of not only just the arbitrage itself, but I think of retail speculation.”Selling Strategy stock to buy BitcoinChanos’ recent move assumes investors overpay for Bitcoin exposure through corporate wrappers like Strategy and other firms that follow its Bitcoin accumulation blueprint. The investor’s move reflects a stance that purchasing Bitcoin directly would be better than purchasing Strategy’s stocks for indirect Bitcoin exposure. Chanos’ move suggests that holding Bitcoin through companies reflects excessive speculation and risk mispricing. It assumes that retail investors’ idea of having Bitcoin indirectly through corporate wrappers can inflate the company’s stock valuations. While shorting Strategy may seem like a good idea, investors have already lost billions shorting Saylor’s company. In 2024, investors who bet against the firm lost about $3.3 billion as the stock rose. As of May 2025, Strategy holds about 568,840 Bitcoin, valued at around $59 billion. Since the company started accumulating Bitcoin in 2020, its stock price has surged by 1,500%, outperforming the S&P 500’s gains during the same period. In a recently released documentary from the Financial Times, Strategy analyst Jeff Walton said that the company’s Bitcoin holdings would help it become the “number one publicly traded equity in the entire market” in the future.Chanos previously called Bitcoin a “libertarian fantasy” Chanos has not always been favorable toward Bitcoin. In a 2018 interview, Chanos described Bitcoin as a “libertarian fantasy.” Chanos said that having digital currency as a store of value in the worst-case scenario wouldn’t work. The investor said that if fiat currency brings the world down, the last thing he’d want to own is Bitcoin. “Food would work the best,” he said. He also criticized Bitcoin for enabling illicit activity, calling the crypto sector “the dark side of finance” in a 2023 interview, and accusing the industry of facilitating tax evasion and money laundering.Chanos also expressed skepticism about spot Bitcoin exchange-traded funds (ETFs), saying that Wall Street needs to keep the public interested in crypto to profit from the fees. Despite those critiques, Chanos now appears to see value in holding Bitcoin directly, particularly in contrast to investing in public companies with large BTC treasuries.Related: $1B Bitcoin exits Coinbase in a day as analysts warn of supply shockChanos’ history in short-sellingChanos is best known for his short position against the energy company Enron before the firm filed for bankruptcy in 2001. The move generated profits for Kynikos Associates, a firm that he founded. A short position involves borrowing assets from a broker, selling them at the current price, and then repurchasing the assets once the value falls to give back what is owed to the broker. Short sellers profit when the asset’s value declines, but face losses when the asset appreciates. While the investor profited from short-selling Enron, Chanos’ predictions weren’t always correct. Chanos was bearish on Tesla and announced a short position in 2016. Tesla stock skyrocketed by 2,200% between 2015 and 2021. The event caused major losses to Chanos’ fund. In 2020, the fund ended with $405 million in assets under management after having over $900 million the previous year. The fund was converted into a family office, and external assets were returned to investors. Magazine: Danger signs for Bitcoin as retail abandons it to institutions: Sky Wee
Published Date: 2025-05-15 12:09:08Creator: Cointelegraph by Ezra Reguerra
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Europol helps dismantle $23M ‘mafia crypto bank’
European law enforcement in January arrested 17 suspects of a “mafia crypto bank” who are said to have laundered over 21 million euros ($23.5 million) in crypto for criminal entities in China and the Middle East.The money laundering services were allegedly carried out on behalf of other criminal networks engaged in migrant smuggling and drug trafficking, Europol said in a May 14 statement.Spanish authorities said the criminal organization ran a secret informal money transfer system called hawala and was often compensated in crypto.A total of 17 individuals were arrested — 15 in Spain, one in Austria and one in Belgium — while 4.5 million euros ($5 million) worth of items were seized, including cash, crypto, 18 vehicles, four shotguns and several electronic devices.Of the 4.5 million euros, 183,000 euros ($205,000) came as crypto. Another 421,000 euros ($471,000) in cash was seized from 77 bank accounts tied to the criminal organization, which one Spanish news outlet described as a “mafia crypto bank.”Luxury bags, watches and even cigars worth 876,000 euros ($980,000) were also seized, Spanish officials said.Scenes of European law enforcement efforts and assets seized from the criminal organization. Source: EuropolThe arrests and asset seizures took place in January 2025, across Spain, Austria and Belgium, Europol said. More than 250 officers were involved, Spanish authorities added.Most of those arrested have already been detainedOf the 17 arrested, 15 have already been imprisoned as alleged perpetrators of the crimes linked to the organization. Most of those arrested were of Chinese and Syrian nationality, targeting clients in China and the Arabic-speaking criminal world.Related: Crypto exchange CEO’s daughter fights off brazen kidnappers in ParisThe criminal organization tried to cover up its money laundering activities by operating a remittance business, and even advertised those services on social media.The investigation was led by a court in Almería, Spain, which supported Europol’s efforts to coordinate Spanish and Belgian officials to dismantle the criminal organization.Blockchain forensics firm Chainalysis estimates that illicit crypto transactions totaled $51.3 billion in 2024, marking an 11.3% year-on-year increase.Magazine: Japanese porn star’s coin red flags, Alibaba-linked L2 runs at 100K TPS
Published Date: 2025-05-15 02:44:47Creator: Cointelegraph by Brayden Lindrea
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Dems seek suspicious activity reports linked to Trump crypto ventures
US Democrat lawmakers have sent a letter to the US Treasury demanding access to suspicious activity reports (SARs) on several Trump-backed crypto projects as part of the latest probe into the president’s digital ventures. Penned by representatives Gerald Connolly, Joseph Morelle, and Jamie Raskin, the May 14 letter asks Treasury Secretary Scott Bessent for all SARS filed since 2023 related to World Liberty Financial (WLF) and the Official Trump (TRUMP) token. Financial institutions in the US must file SARs with the Financial Crimes Enforcement Network, a bureau within the Department of the Treasury, when they detect suspicious activity, including potential money laundering or fraud. Source: Oversight Committee DemocratsThe sweeping probe asks for any SARs mentioning WinRed, America PAC, Elon Musk, political action committee, PAC, Trump, World Liberty Financial, WLF, TRUMP, MELANIA and Justin Sun, no later than May 30. The Democratic lawmakers say their probe is to “determine whether legislation is necessary to prevent violations of campaign finance, consumer protection, bribery, securities fraud, and other anti-corruption laws” and to guard against “financial misconduct connected to prospective or current federal officials.” Democrats argue WLF and Trump coin could be misusedAs part of the letter, the lawmakers argue WLF could be misused as a “vehicle for foreign influence peddling” because it served part of its token sale for foreign investors, who are “generally subject to less stringent regulation than US investors.” Justin Sun’s investment in WLF and the subsequent pause of the SEC’s lawsuit that alleged the crypto entrepreneur broke securities laws has also been flagged as a concern. Trump’s token has come under fire as well because the lawmakers argue in their letter that the identities of the coin purchasers are not publicly disclosed, which could open the door for bad actors to “curry favor with Trump” by purchasing the coin. At the same time, SARS related to Republican digital fundraising WinRed, Elon Musk’s super PAC, which poured $250 million into Trump’s election campaign, and two other PACs are being sought. Related: Trump-owned Truth Social denies it is launching a memecoinThis effort is the latest Democrat-led salvo against Trump’s crypto ventures. A group of Democratic senators reportedly sent a letter to leadership at the US Department of Justice and the Treasury Department expressing concerns about Trump’s ties to crypto exchange Binance and potential conflicts of interest in regulating the industry, according to a May 9 Bloomberg report. US Democratic lawmakers also launched a multi-angle attack on May 6, targeting Trump’s ability to profit from his crypto initiatives with two bills and a subcommittee inquiry. Magazine: Trump’s crypto ventures raise conflict of interest, insider trading questions
Published Date: 2025-05-15 02:10:07Creator: Cointelegraph by Stephen Katte
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