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Cover image for Russia to Roll Out Bitcoin and Crypto Framework This July, Allowing Retail Participation

Russia to Roll Out Bitcoin and Crypto Framework This July, Allowing Retail Participation

Bitcoin Magazine Russia to Roll Out Bitcoin and Crypto Framework This July, Allowing Retail Participation Russia is preparing to introduce its first comprehensive regulatory framework for crypto like Bitcoin, with lawmakers aiming to finalize the draft for a parliamentary vote by the end of June, according to local media reports. Anatoly Aksakov, head of the State Duma Committee on the Financial Market, said that the long-anticipated rules could be approved as early as this summer. If passed, the framework would formally take effect one year later, opening regulated bitcoin and crypto trading to both qualified and non-qualified investors beginning July 1, 2027. Under the proposed regime, retail investors would be allowed to participate in the crypto market, though with significant restrictions. State news agency TASS previously reported that non-qualified traders would be capped at annual purchases of 300,000 rubles (roughly $3,900) and would only be permitted to buy a limited set of what regulators deem the “most liquid” cryptocurrencies. Professional and qualified investors, by contrast, would be allowed to trade cryptocurrencies in unlimited amounts, with the exception of privacy-focused tokens such as Monero and Zcash. Russian authorities have repeatedly cited concerns over anonymity and compliance with anti-money laundering standards as the rationale for excluding such assets. ‘Bitcoin will definitely be included’ Alexandra Fedotova, a lawyer at Moscow-based firm White Stone, said the Central Bank of Russia is expected to compile a shortlist of approved cryptocurrencies for retail trading. “Most likely, the Central Bank will compile a list of the top five to ten most traded cryptocurrencies on major exchanges,” Fedotova said in comments reported by local media. “Bitcoin and ether will definitely be included. Possibly SOL or TON will be added, given their popularity in our country. Everything else will be only for qualified investors.” The framework would also permit Russian residents to purchase bitcoin abroad using foreign accounts and transfer those assets back to domestic platforms, provided the transactions are reported to tax authorities. Stablecoins are expected to receive separate treatment under the law. Fedotova said regulators are likely to classify dollar-pegged tokens as instruments for cross-border economic activity, potentially clarifying their legal use in international settlements while maintaining existing domestic restrictions. Beyond trading, the draft legislation seeks to establish formal rules governing the issuance, bitcoin and crypto mining, and circulation of digital assets. At the same time, it would reaffirm Russia’s long-standing ban on using cryptocurrencies for domestic payments, a position the central bank has consistently defended despite gradually softening its stance on crypto trading. Aksakov said additional legislation is planned to define enforcement measures, including administrative, financial, and potentially criminal liability for illegal activity in the crypto sector. Penalties for unlawful operations by intermediaries are expected to mirror those applied to illegal banking activity. Existing licensed exchanges and brokers would be allowed to continue operating under the new regime, while platforms and custodial services currently operating in a legal gray area would be required to obtain new licenses tailored to their specific activities. This post Russia to Roll Out Bitcoin and Crypto Framework This July, Allowing Retail Participation first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Cover image for Metaplanet Raises Up to $137 Million to Buy Bitcoin and Pay Off Debt

Metaplanet Raises Up to $137 Million to Buy Bitcoin and Pay Off Debt

Bitcoin Magazine Metaplanet Raises Up to $137 Million to Buy Bitcoin and Pay Off Debt Metaplanet, the Tokyo-listed bitcoin treasury company, plans to raise up to 21 billion yen ($137 million) through a new share and warrant issuance as it doubles down on its strategy of accumulating bitcoin while reducing leverage. The company said it will raise the funds via a third-party allotment of new common shares and stock acquisition rights placed directly with select investors, rather than through a public offering. Under the plan, Metaplanet will issue 24.53 million new common shares priced at 499 yen per share — roughly 5% above the prior closing price — generating approximately 12.24 billion yen in upfront proceeds. The firm’s shares closed at 456 yen, down about 4%, reflecting near-term dilution concerns despite the premium pricing. Each newly issued share will be accompanied by 0.65 stock acquisition rights, equivalent to 15.94 million potential additional shares and representing 65% warrant coverage. The warrants carry a fixed exercise price of 547 yen and can be exercised over a one-year period. If fully exercised, they would generate an additional 8.9 billion yen in proceeds. Importantly, the warrants are fixed-strike instruments rather than moving-strike warrants, limiting variable dilution for existing shareholders. “The 65% warrant coverage exercisable at ¥547 for one year is a fixed strike,” said Dylan LeClair, head of bitcoin strategy at Metaplanet. “The financing structure enables Metaplanet to capitalize on common stock volatility to sell shares at a premium to market while raising capital today.” Metaplanet said 5.2 billion yen of the upfront capital will be used to partially repay existing debt. According to the company’s dashboard, Metaplanet currently carries approximately $280 million in outstanding debt. Metaplanet will use the money to buy bitcoin The remaining funds will primarily support further bitcoin purchases, alongside general corporate purposes and the expansion of its bitcoin income-generation business, which includes options strategies and lending. The firm said about 14 billion yen ($91.2 million) has been earmarked specifically for bitcoin accumulation, with an additional 1.5 billion yen ($9.8 million) allocated to income-generating activities. The board approved the financing at a meeting Thursday, with the allotment and payment date set for Feb. 13, 2026. The warrants will be exercisable from Feb. 16, 2026, through Feb. 15, 2027. Metaplanet currently holds 35,102 bitcoin, making it the fourth-largest bitcoin holder among publicly traded companies. The company has modeled its strategy on U.S.-based firms such as Strategy (formerly MicroStrategy), which remains the largest corporate holder with more than 700,000 BTC. The capital raise follows Metaplanet’s recently announced long-term objective to acquire up to 210,000 BTC — roughly 1% of bitcoin’s total supply — by 2027. The firm said the accumulation will occur in stages and be managed through its subsidiary, Metaplanet Lightning Capital. Despite bitcoin’s recent pullback — with BTC trading near $87,800 at the time of publication — Metaplanet said it remains confident in the asset’s medium- to long-term outlook. The company added that it expects the financing to have a minimal impact on its 2026 financial results and will disclose any material changes if necessary. This post Metaplanet Raises Up to $137 Million to Buy Bitcoin and Pay Off Debt first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Cover image for Bitcoin Price Steadies Near $90,000 as Fed Pauses Rate Cuts, Powell Signals Neutral Stance

Bitcoin Price Steadies Near $90,000 as Fed Pauses Rate Cuts, Powell Signals Neutral Stance

Bitcoin Magazine Bitcoin Price Steadies Near $90,000 as Fed Pauses Rate Cuts, Powell Signals Neutral Stance Bitcoin hovered near $89,000 on Wednesday as the Federal Reserve opted to hold interest rates steady, pausing its rate-cutting cycle and striking a notably calmer tone on inflation and the labor market. The bitcoin price traded above $90,000 earlier in the session before slipping to around $89,500 as Federal Reserve Chair Jerome Powell spoke at his post-meeting press conference. The move came after the Fed announced it would keep its benchmark federal funds rate unchanged at a range of 3.5% to 3.75%, ending a streak of three consecutive 25-basis-point cuts delivered in September, October, and December. The decision reflected a central bank increasingly comfortable with the economy’s trajectory, even as inflation remains above target. Policymakers cited moderating job growth and lingering price pressures as reasons to pause further easing. The Federal Open Market Committee voted 10–2 to hold rates, with Governors Stephen Miran and Christopher Waller dissenting in favor of another quarter-point cut. Miran, whose term expires Saturday, has consistently argued for deeper rate reductions. Waller, meanwhile, is one of the potential candidates to succeed Powell as Fed chair and last dissented in July when the Fed also held rates steady. JUST IN: Treasury Secretary Scott Bessent says President Trump may pick a new Fed Chair 'in a week or so' Pro-Bitcoin Rick Reider is currently leading by 10% in the odds for the job — Polymarket pic.twitter.com/8IjKqoaYpe — Bitcoin Magazine (@BitcoinMagazine) January 28, 2026 Fed’s Powell: The economy is expanding at a solid pace In its statement, the FOMC said the economy continues to expand “at a solid pace,” noting that job gains “have remained low” while unemployment has shown “some signs of stabilization.” Inflation, the committee added, “remains somewhat elevated.” Powell reinforced that message, emphasizing that after cutting rates by a cumulative 175 basis points over the past year, the Fed now views policy as close to neutral. “It’s hard to look at the incoming data and say that policy is significantly restrictive at this time,” Powell said, describing the current stance as “loosely neutral or somewhat restrictive — it’s in the eye of the beholder.” That framing mattered for markets. Bitcoin has historically responded positively to easing financial conditions, but Wednesday’s price action suggested traders who were prepared for this FOMC decision and were recalibrating expectations for near-term rate cuts rather than reacting to outright hawkishness. Powell struck a measured tone on the labor market, pushing back against fears of a sharp deterioration. He noted that recent payroll reports showed average job losses of about 22,000 per month, while private-sector hiring remained modestly positive. Slower labor supply growth, he said, reflected reduced immigration and participation rather than collapsing demand. On inflation, Powell pointed to tariffs as a major driver of elevated goods prices, calling them a largely “one-time” effect rather than a source of persistent inflation. Core personal consumption expenditures inflation stands at 2.9% year over year through December, still above the Fed’s 2% target. “The expectation is that we will see the effects of tariffs flowing through goods prices peaking and then starting to come down,” Powell said, barring new trade actions. For bitcoin traders, Powell’s comments reinforced a familiar narrative: the Fed is no longer aggressively tightening, but it is also in no hurry to deliver further stimulus. That middle ground has supported bitcoin’s ability to hold recent gains while capping near-term upside tied to hopes of rapid rate cuts. Who will be the next Fed chair? The succession question also loomed over the meeting. Asked what advice he would offer his eventual successor, Powell delivered a pointed, three-part response: stay out of politics, stay engaged with Congress, and respect the institution’s staff. “Stay out of elected politics. Don’t do it,” Powell said, underscoring the Fed’s need to maintain independence at a moment when its authority faces heightened scrutiny, including an ongoing Supreme Court case involving the central bank. Waller’s dissent and Miran’s departure have fueled speculation about the Fed’s future leadership and policy direction, a factor increasingly watched by crypto markets sensitive to shifts in monetary philosophy. Trump’s pick for Federal Reserve chair could be announced within a week or two, Treasury Secretary Scott Bessent said, according to Yahoo Finance. On Polymarket, Rick Rieder leads the betting to become the next Fed chair at roughly 37%, followed by Kevin Warsh at about 28%, with Christopher Waller a distant third near 15%. This post Bitcoin Price Steadies Near $90,000 as Fed Pauses Rate Cuts, Powell Signals Neutral Stance first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Cover image for White House to Host Crypto and Banking Executives for Talks on Stalled U.S. Crypto Bill

White House to Host Crypto and Banking Executives for Talks on Stalled U.S. Crypto Bill

Bitcoin Magazine White House to Host Crypto and Banking Executives for Talks on Stalled U.S. Crypto Bill The White House will convene executives from the banking and crypto sectors on Monday, February 2 to discuss a path forward for stalled U.S. crypto legislation, according to Reuters reporting. Hosted by the administration’s crypto council, the summit is expected to include leaders from major trade associations and focus on contentious provisions — particularly how proposed law would treat interest and other rewards that crypto firms pay on customer holdings of dollar-pegged stablecoins. The meeting shows the Trump administration’s eagerness to broker a compromise and advance the legislation after negotiations floundered amid competing priorities and industry pushback. Reuters reported that the White House had no immediate comment on the matter and that the three sources familiar with the deliberations spoke on condition of anonymity. JUST IN: White House to gather crypto and banking industry executives to discuss crypto market structure legislation on Monday — Reuters pic.twitter.com/10p0uve9NV — Bitcoin Magazine (@BitcoinMagazine) January 28, 2026 Crypto legislation background U.S. federal crypto policy has been at a standstill following months of legislative activity that raised expectations for comprehensive regulation. The House passed a major market-structure bill — the CLARITY Act — in July 2025, sending it to the Senate with hopes of establishing clear rules for digital assets and defining regulatory authority between the Securities and Exchange Commission and the Commodity Futures Trading Commission. However, Senate progress collapsed in early January when the Senate Banking Committee postponed its planned markup of the CLARITY Act after influential industry voices, including Coinbase, withdrew their support. Critics argued that late-stage amendments weakened crypto innovation by tightening restrictions on stablecoin rewards, altering DeFi oversight and shifting power toward traditional financial regulators. “After reviewing the Senate Banking draft over the last 48 hours, Coinbase unfortunately can’t support this bill as written,” Coinbase CEO Brian Armstrong said at the time. Coinbase’s CEO publicly accused major banks of lobbying to alter the bill’s stablecoin provisions in ways that could undermine the industry and stifle yield-earning products, further deepening the rift between banking interests and crypto advocates. The delay has left regulatory clarity unresolved, with the Senate debate now entangled in broader political negotiations and procedural postponements. The Senate Agriculture Committee is scheduled to vote tomorrow on a crypto market structure bill that would clarify regulatory jurisdiction over digital asset markets. The markup is expected to include several amendments related to crypto, with lawmakers ultimately deciding whether to advance the bill to the Senate floor. While Democratic support for the legislation remains uncertain, the absence of unrelated amendments widely viewed as deal-breakers has helped push the expectations that the bill could move forward. This post White House to Host Crypto and Banking Executives for Talks on Stalled U.S. Crypto Bill first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Cover image for Coinbase to Join Trump Accounts Push, Eyes Bitcoin Payments for Children

Coinbase to Join Trump Accounts Push, Eyes Bitcoin Payments for Children

Bitcoin Magazine Coinbase to Join Trump Accounts Push, Eyes Bitcoin Payments for Children Coinbase announced plans to participate in President Donald Trump’s newly launched Trump Accounts program — and is exploring delivering its matching contribution in Bitcoin rather than traditional financial assets. In a social media post today, Coinbase CEO Brian Armstrong indicated the company intends to support the initiative within Coinbase and with its employees. Armstrong wants to match the federal government’s $1,000 seed money for eligible children and wants to do it in Bitcoin. “Starting to invest early is more important than ever. Trump Accounts is a great move to kick-start financial security + literacy for children,” Armstrong posted. “We’re proud to join @POTUS’s initiative by matching the $1k from the U.S. Treasury for all eligible children of Coinbase employees. Hopefully we can pay the $1k in Bitcoin.” What are Trump Accounts? Trump Accounts are one of the provisions that came out of the One Big Beautiful Bill Act, a major legislative package championed by President Trump. The initiative automatically qualifies U.S. citizen babies born between January 1, 2025, and December 31, 2028 for a $1,000 government deposit into a tax-advantaged investment account in their name. Unlike traditional savings vehicles, these accounts must be invested in low-fee, diversified U.S. stock index funds managed by private financial firms and are locked until the beneficiary turns 18. At that point, the funds can be used for education, home purchases, or starting a business, with parents, employers, friends, and charities able to make additional contributions — subject to annual limits — to enhance long-term growth, the administration said. Corporate support and match programs Coinbase follows other major financial institutions that are already lining up behind the policy. Both Bank of America and JPMorgan Chase have committed to matching the government’s $1,000 contribution for eligible children of employees, with additional perks like pretax payroll deductions to ease participation. Philanthropists and cultural figures are also joining the effort. Rapper Nicki Minaj pledged contributions to support Trump Accounts for children in underserved communities, emphasizing financial literacy and generational opportunity. Parents will be able to open Trump Accounts starting July 2026, with sign-ups and documentation processes opening in the spring. Meanwhile, participation from firms like Coinbase and traditional banks signals that private industry is ready to embed the program into their own company benefits. This post Coinbase to Join Trump Accounts Push, Eyes Bitcoin Payments for Children first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Cover image for Strive ($ASST) Uses SATA Shares to Pay Off Bulk of Semler Debt, Adds Bitcoin to Balance Sheet

Strive ($ASST) Uses SATA Shares to Pay Off Bulk of Semler Debt, Adds Bitcoin to Balance Sheet

Bitcoin Magazine Strive ($ASST) Uses SATA Shares to Pay Off Bulk of Semler Debt, Adds Bitcoin to Balance Sheet Strive, Inc. announced today that it has closed an upsized and oversubscribed follow-on offering of its Variable Rate Series A Perpetual Preferred Stock, raising $225 million amid strong institutional demand and accelerating the retirement of legacy debt from its Semler Scientific acquisition. The Dallas-based firm said it sold 1.32 million shares of the preferred stock — known as SATA — at $90 per share, after demand exceeded $600 million. The offering was initially targeted at $150 million before being increased alongside a series of privately negotiated note exchanges. As part of the transaction, Strive retired $110 million of the $120 million in debt assumed from Semler Scientific, including $90 million of Semler’s 4.25% convertible senior notes due 2030, which were exchanged for approximately 930,000 shares of SATA stock. The company also used proceeds from the offering to fully repay a $20 million loan with Coinbase Credit, leaving all of Strive’s bitcoin holdings unencumbered. The remaining $10 million of Semler-related debt is expected to be retired by April 2026, the company said. This quick deleveraging comes just 11 days after Strive closed the Semler acquisition, placing the firm well ahead of its previously stated goal to retire the debt within 12 months. “By quickly returning to a preferred equity–only amplification structure, we are matching the long-duration nature of bitcoin with long-duration financing,” said Chairman and CEO Matt Cole, adding that the company views preferred equity as the optimal mechanism for scaling bitcoin exposure. Strive purchases $29 million in bitcoin Strive also disclosed that it purchased an additional 333.89 bitcoin at an average price of $89,851, bringing total holdings to 13,131.82 BTC as of January 28. The company is now the tenth-largest publicly traded corporate holder of bitcoin globally. According to Strive, its amplification ratio — calculated as total debt and preferred equity divided by the market value of bitcoin held — stands at 37.2%, with 97.7% derived from preferred equity. The firm reported a quarter-to-date bitcoin yield of 21.17%, a metric reflecting growth in bitcoin exposure per common share. “The successful completion of this oversubscribed SATA follow-on offering reflects robust and growing investor demand for digital credit,” said Chief Investment Officer Ben Werkman. “In just over four months, Strive has scaled from zero bitcoin to become a top-10 publicly traded holder.” Source: Strive This post Strive ($ASST) Uses SATA Shares to Pay Off Bulk of Semler Debt, Adds Bitcoin to Balance Sheet first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Cover image for Bitcoin Price Jumps Above $90,000 Ahead of Fed Meeting, Senate Crypto Vote

Bitcoin Price Jumps Above $90,000 Ahead of Fed Meeting, Senate Crypto Vote

Bitcoin Magazine Bitcoin Price Jumps Above $90,000 Ahead of Fed Meeting, Senate Crypto Vote The Bitcoin price surged early Wednesday, reclaiming the $90,000 level as traders digested fresh macro signals and growing momentum around U.S. crypto regulation. The move followed a sharp reversal from weekend lows near $86,000, with the bitcoin price climbing to highs of $90,361 into the day, according to Bitcoin Magazine Pro data. All this is happening as the market braced for the Federal Reserve’s first rate decision of the year later today, with futures pricing in an almost certain hold on rates Wednesday. With unemployment at 4.4%, traders are focused less on inflation and more on whether Chair Jerome Powell signals concern about labor market softness. If Powell leans into job market resilience and pushes back against near-term rate cuts, a “neutral” Fed meeting could quickly turn bearish for crypto. Gold continues to surge to new all-time high above $5,300 per ounce, underscoring renewed demand for hard assets amid rising currency uncertainty. Bitcoin appeared to benefit from the same macro tailwinds, reversing earlier caution that had dominated trading after last weekend’s dip. A late-day bitcoin price rally unfolded yesterday as President Donald Trump, speaking in Iowa, dismissed concerns over the weakening U.S. dollar, saying he was “not concerned” about its decline and insisting the dollar was “doing great.” Bitcoin price: Senate committee expected to vote on crypto market structure bill tomorrow This price rally comes at a pivotal moment for U.S. crypto policy. On Thursday, the Senate Agriculture Committee is scheduled to vote on a crypto market structure bill that would clarify regulatory jurisdiction over digital asset markets. The markup is expected to include several amendments, with lawmakers ultimately deciding whether to advance the bill to the Senate floor, according to Crypto in America. While Democratic support for the legislation remains uncertain, the absence of unrelated amendments widely viewed as deal-breakers has boosted expectations that the bill could move forward. For market participants, progress on the legislation represents a potential step toward long-sought regulatory clarity in the United States. Bitcoin’s price action reflects that shifting backdrop. After struggling for much of the past 24 hours to reclaim the $88,000 level amid ETF outflows, Federal Reserve uncertainty, and lingering bearish technical pressure, buyers reasserted control into the close. At the time of publication, the bitcoin price was trading at $90,075, up roughly 2% over the past 24 hours, with daily trading volume around $43 billion. The asset’s circulating supply stands at 19.98 million BTC, out of a fixed 21 million maximum. This post Bitcoin Price Jumps Above $90,000 Ahead of Fed Meeting, Senate Crypto Vote first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Cover image for Bitcoin Price Surges Near $90,000 as Trump Downplays Dollar Decline, Gold Hits New Record

Bitcoin Price Surges Near $90,000 as Trump Downplays Dollar Decline, Gold Hits New Record

Bitcoin Magazine Bitcoin Price Surges Near $90,000 as Trump Downplays Dollar Decline, Gold Hits New Record The bitcoin price rallied sharply into the close on Tuesday, surging above $89,400 after trading as low as $87,100 earlier in the day, according to Bitcoin Magazine Pro data, as markets reacted to fresh remarks from President Donald Trump on the U.S. economy. The late-day move came as Trump, speaking in Iowa, dismissed concerns over the weakening U.S. dollar, telling supporters he was “not concerned” about its decline and insisting the dollar was “doing great.” The comments triggered an immediate reaction across markets, with the dollar sliding further and alternative stores of value catching a bid. Gold climbed to a new all-time high of $5,223 per ounce at the time of writing, underscoring growing demand for hard assets amid mounting currency uncertainty. The bitcoin price appeared to benefit from the same macro tailwinds, reversing earlier caution that had dominated trading following last weekend’s dip to $86,000. The rally marks a notable shift in sentiment after bitcoin spent much of the past 24 hours struggling to reclaim the $88,000 level amid Federal Reserve uncertainty, ETF outflows, and lingering bearish technical pressure. Monday’s breakout above $89,000 suggests buyers are reasserting control in the near term, though markets remain highly sensitive to macro signals as the Federal Reserve’s policy decision looms later this week. At the time of publication, Bitcoin price traded at $89,320 today, up 2% over the past 24 hours, with $43 billion in daily trading volume. The asset’s circulating supply stands at 19,981,268 BTC, out of a fixed 21 million maximum. NEW: President Trump says he "doesn't think the dollar declined too much." But it is declining. Buy Bitcoin! pic.twitter.com/wg2boYjqi1 — Bitcoin Magazine (@BitcoinMagazine) January 27, 2026 Bitcoin mining stocks soaring along with bitcoin price Bitcoin miners that have pivoted toward artificial intelligence and high-performance computing (HPC) infrastructure are roaring up near 10% on Tuesday, as investors continue to reward diversification beyond traditional mining revenues. IREN ($IREN) and Cipher Mining ($CIFR) are each up more than 13%, while Hut 8 ($HUT) and TeraWulf ($WULF) are posting gains around 10%, extending a broader rally across the mining sector tied to AI-adjacent exposure. The move comes as markets increasingly view large-scale miners as power and data-center plays rather than pure Bitcoin proxies, particularly in the wake of tighter post-halving economics. Companies like Cipher, IREN, Hut 8, and TeraWulf have spent the past year repositioning excess capacity toward long-term AI and HPC hosting contracts, which offer steadier cash flows and higher margins than block rewards alone. This post Bitcoin Price Surges Near $90,000 as Trump Downplays Dollar Decline, Gold Hits New Record first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Cover image for Steak ’n Shake Adds $5 Million in Bitcoin Exposure, Deepening Bitcoin Commitment

Steak ’n Shake Adds $5 Million in Bitcoin Exposure, Deepening Bitcoin Commitment

Bitcoin Magazine Steak ’n Shake Adds $5 Million in Bitcoin Exposure, Deepening Bitcoin Commitment Steak ’n Shake has increased its Bitcoin exposure by an additional $5 million in notional value, continuing what the company calls its ongoing “burger-to-Bitcoin transformation.” In a post on X, the restaurant chain said all Bitcoin-denominated sales continue to flow into its Strategic Bitcoin Reserve (SBR), which it describes as a self-sustaining system designed to boost restaurant performance while expanding its BTC holdings. “Our self-sustaining system — improving food quality that grows same-store sales that then grow the SBR — is transforming the chain via financial technology,” the company wrote. The latest increase follows a $10 million BTC exposure expansion announced earlier this month, marking the second treasury-related move by the company in January alone. Steak ’n Shake began accepting BTC payments across U.S. locations in May 2025 using the Lightning Network, positioning the rollout as both a cost-cutting measure and a way to attract younger, crypto-native customers. The company previously said it saves roughly 50% on processing fees when customers pay with BTC instead of traditional card networks. According to the company, same-store sales rose more than 10% in the second quarter of 2025 following the BTC payments rollout, a performance it has partially attributed to engagement from the Bitcoin community. Beyond payments and treasury strategy, Steak ’n Shake has expanded its BTC integration into employee compensation. A company loyal to bitcoin Earlier this month, the chain announced a “Bitcoin bonus” for hourly employees, paying $0.21 per hour worked in BTC using infrastructure provided by BTC services firm Fold. The bonus vests over two years, with a full-time employee earning roughly $436 annually in BTC at current rates. The chain has also leaned into BTC-themed marketing, launching a BTC steakburger, offering BTC rewards tied to menu items, and publicly distancing itself from adding alternative cryptocurrencies after backlash from BTC supporters. Last fall, the company ran a poll on X over the weekend asking its 468,800 followers whether it should expand its crypto options to include Ethereum. Nearly 49,000 votes were cast, with 53% in favor. However, just four hours later, the company suspended the poll, declaring its allegiance to Bitcoiners. “Poll suspended. Our allegiance is with Bitcoiners. You have spoken,” Steak ‘n Shake posted. It’s unclear whether the company was seriously considering Ethereum. This post Steak ’n Shake Adds $5 Million in Bitcoin Exposure, Deepening Bitcoin Commitment first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Cover image for South Dakota Proposes Bill Allowing State to Invest in Bitcoin

South Dakota Proposes Bill Allowing State to Invest in Bitcoin

Bitcoin Magazine South Dakota Proposes Bill Allowing State to Invest in Bitcoin South Dakota Republican Rep. Logan Manhart has introduced House Bill 1155, a proposal that would permit the state to invest public funds in Bitcoin. The legislation, formally filed in the 101st Legislative Session, allows the State Investment Council to allocate up to 10% of state funds available for investment to BTC, marking a potential first for the state in adopting crypto as part of its investment strategy. The bill outlines multiple options for holding BTC safely. State funds could be held directly by the Investment Council through a secure custody solution, entrusted to a qualified custodian, or acquired in the form of exchange-traded products (ETPs) issued by registered investment companies. Security is a central focus of the proposal. Any BTC held by the state would require a private key exclusively controlled by the Investment Council, stored in encrypted, hardware-secured environments across at least two geographically separated, secure locations. Transaction approvals would require multi-party governance, and systems would enforce user access controls and maintain detailed audit logs. Additionally, the bill mandates regular code audits, penetration testing, and disaster recovery protocols to ensure state assets remain secure and accessible even in the event of system failures. In announcing the bill on X, Manhart said, “I am proud to say I have released my bill that would allow the State of South Dakota to invest in Bitcoin. Strong money. Strong state.” U.S. states are starting to love bitcoin The proposal comes amid growing interest from U.S. states and municipalities in incorporating digital assets into public portfolios, reflecting broader trends in cryptocurrency adoption and financial innovation. Earlier this month, Rhode Island lawmakers introduced Senate Bill S2021 to temporarily exempt small Bitcoin transactions from state income and capital gains taxes, with a $5,000 monthly and $20,000 annual cap. The bill treats Bitcoin as a “digital, decentralized currency” and allows residents and Rhode Island–based businesses to self-certify eligibility while keeping simple records. The exemption would take effect January 1, 2027, and expire January 1, 2028, as a pilot program to reduce tax friction on everyday Bitcoin use. New Hampshire is another state actively championing Bitcoin. In May 2025, New Hampshire became the first U.S. state to allow its treasury to invest in Bitcoin and other large-cap digital assets, authorizing up to 5% of certain public funds to be allocated into crypto under House Bill 302. BTC currently qualifies under the market-cap rule. JUST IN: South Dakota introduces bill to allow the state to invest in Bitcoin pic.twitter.com/7SCsioxaiD — Bitcoin Magazine (@BitcoinMagazine) January 27, 2026 This post South Dakota Proposes Bill Allowing State to Invest in Bitcoin first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Cover image for US Government Investigating Alleged $40 Million Crypto Theft by Federal Contractor’s Son

US Government Investigating Alleged $40 Million Crypto Theft by Federal Contractor’s Son

Bitcoin Magazine US Government Investigating Alleged $40 Million Crypto Theft by Federal Contractor’s Son Members of the U.S. government are investigating allegations that tens of millions of dollars in cryptocurrency seized by law enforcement were stolen through insider access via a federal contractor, according to public statements from officials. The U.S. Marshals Service (USMS) confirmed to CoinDesk that it is investigating claims that more than $40 million in confiscated digital assets were siphoned from government-linked wallets. The allegations center on Command Services & Support (CMDSS), a Virginia-based technology firm contracted by the USMS to manage and dispose of certain categories of seized cryptocurrency. Blockchain investigator ZachXBT alleged that John “Lick” Daghita — the son of CMDSS president and chief executive Dean Daghita — gained unauthorized access to crypto wallets holding government-seized digital assets and diverted funds for personal use. ZachXBT said he reported the alleged activity to authorities and linked multiple wallet addresses to assets controlled by or associated with the USMS. Brady McCarron, chief of public affairs for the USMS, told CoinDesk that the agency could not comment further on the case because investigations were underway. Details of the digital asset theft fraud The allegations first surfaced after a dispute in a private Telegram chat was recorded and later circulated online. According to ZachXBT, the individual identified as “Lick” appeared to screen-share a wallet holding millions of dollars in cryptocurrency and demonstrated the ability to move funds in real time. Subsequent on-chain analysis linked those wallets to addresses known to hold government-seized assets, including funds associated with prior high-profile law enforcement seizures. “Meet the threat actor John (Lick), who was caught flexing $23M in a wallet address directly tied to $90M+ in suspected thefts from the US Government in 2024 and multiple other unidentified victims from Nov 2025 to Dec 2025,” ZachXBT wrote on X over the weekend. ZachXBT later identified the individual as John Daghita, alleging that he is the son of CMDSS’s president and that CMDSS currently holds an active federal IT contract. CMDSS was awarded a contract in October 2024 to assist the USMS in managing and disposing of seized and forfeited digital assets, including crypto not supported by major exchanges and assets tied to complex criminal cases. Those crypto assets reportedly include funds seized from the 2016 Bitfinex hack, one of the largest cryptocurrency thefts on record. ZachXBT has said it remains unclear how John Daghita allegedly obtained access to the wallets, including whether that access was facilitated through his father or CMDSS’s internal systems. According to ZachXBT, one wallet he attributed to Daghita held 12,540 ether — worth roughly $36 million at recent prices. He also alleged that Daghita sent him 0.6767 ETH, which the investigator said he would forward to a U.S. government seizure address. ZachXBT further claimed that transaction trails suggest approximately $20 million was removed from USMS-linked wallets in October 2024, most of which was returned within a day, though roughly $700,000 routed through instant exchanges was not recovered. In additional posts, ZachXBT estimated that total suspected thefts could exceed $90 million in various crypto when accounting for other wallet activity observed in late 2025, some of which he said remains in compromised wallets. United States’s bitcoin security under scrutiny The allegations have raised valid concerns over how the U.S. government safeguards its growing stockpile of seized bitcoin and other digital assets. The federal government may control between roughly 198,000 BTC and more than 300,000 BTC, worth tens of billions of dollars at current market prices. According to bitcointreasuries.net, the U.S. government holds 328,372 bitcoin worth roughly $29 billion. The controversy comes amid heightened scrutiny of how seized bitcoin is handled following reports earlier this year questioning whether forfeited assets tied to the Samourai Wallet case were improperly sold despite executive orders directing that seized bitcoin be retained as part of a U.S. Strategic Bitcoin Reserve. While U.S. officials later denied that any sale took place, the lack of on-chain evidence provided publicly has continued to fuel skepticism. This post US Government Investigating Alleged $40 Million Crypto Theft by Federal Contractor’s Son first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Cover image for 39% of U.S. Merchants Now Accept Crypto, PayPal Survey Finds

39% of U.S. Merchants Now Accept Crypto, PayPal Survey Finds

Bitcoin Magazine 39% of U.S. Merchants Now Accept Crypto, PayPal Survey Finds Crypto is no longer niche bar-talk. It has become a part of mainstream commerce in the United States. A new survey conducted jointly by the National Cryptocurrency Association (NCA) and PayPal reveals that nearly 4 in 10 U.S. merchants (39%) now accept digital assets at checkout, with overwhelming consensus that crypto payments will become a standard option within the next five years. The survey, which polled 619 payment decision-makers across retail, e-commerce, hospitality, luxury goods, and digital gaming sectors, highlights customer demand as the primary driver of adoption. Nearly nine in ten merchants (88%) report receiving inquiries from customers about paying with cryptocurrency, and more than two-thirds (69%) say customers request these payments at least once a month. For businesses already accepting digital currencies, crypto is no longer a novelty: it accounts for over a quarter (26%) of sales, with roughly 72% of merchants reporting growth in transactions over the past year. “What we’re seeing both in this data and in conversations with our customers is that crypto payments are moving beyond experimentation and into everyday commerce,” said May Zabaneh, Vice President and General Manager of Crypto at PayPal. “Adoption is being driven by customer demand for faster, more flexible ways to pay — and once businesses start accepting crypto, they see real value.” Zabaneh emphasized that when crypto payments are integrated as seamlessly as traditional cards or online payments, they can become a powerful tool to attract new customers and improve cash flow. Crypto adoption in large enterprises Adoption is strongest among larger enterprises. According to the survey, 50% of companies earning over $500 million annually accept digital assets, compared to 34% of small businesses and 32% of midsize firms. The data also shows that younger shoppers are fueling demand, with 77% of Millennials and 73% of Gen Z or younger customers expressing interest in using digital assets. Small businesses, in particular, report high engagement from Gen Z, with 82% of inquiries coming from this demographic. Merchants cite several key benefits to accepting digital assets, including faster transaction speed (45%), access to new customers (45%), enhanced security (41%), and greater privacy for buyers (40%). Industries leading adoption include hospitality and travel (81%), digital goods, gaming, and luxury retail (76%), as well as retail and e-commerce (69%), where speed, global reach, and digital-native audiences play a significant role. Despite the momentum, simplicity and usability remain barriers to wider adoption. The survey found that 90% of merchants would consider accepting digital assets if the setup were as straightforward as accepting credit cards, and the same percentage said they would adopt it if the payment experience were as seamless as traditional methods. “Interest isn’t the problem; understanding is,” said Stu Alderoty, President of the NCA. “Partnerships with trusted platforms like PayPal are crucial to bridge the knowledge gap and demonstrate that crypto can be simple, accessible, and effective for everyday businesses and consumers.” This post 39% of U.S. Merchants Now Accept Crypto, PayPal Survey Finds first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Cover image for Samourai Letter #3: Notes From The Inside

Samourai Letter #3: Notes From The Inside

Bitcoin Magazine Samourai Letter #3: Notes From The Inside Dear Reader, Since my last letter where I tried to explain the underground economy of FPC Morgantown I have been struggling to come up with an idea of what further information you may be interested in. In modern life on the outside we are all so used to immediate feedback on everything we do. We write and publish an article and almost instantly comments start to roll in. You push to Twitter and the peanut gallery chimes in and has their say, and you as the content creator have an immediate idea of the general sentiment surrounding your work. It takes some getting used to not having that modern feedback loop, but on the other hand it is quite liberating as well. All that said I have decided that today I am going to write you about the food situation at FPC Morgantown. I hope this letter will be interesting to you. Feel free to write me a letter with your thoughts and suggestions. My address will be posted at the bottom of this letter. If you have time to read this article, you have time to sign the petition to free Samourai Wallet developers Keonne Rodriguez and William Hill. Every signature counts. CLICK THE IMAGE ABOVE OR HERE. One of the things I have been doing regularly since arriving at FPC Morgantown is keeping a daily journal. Usually towards the end of my day around 8:00PM I sit at a desk flanked by chess tables and write a summary of the days events. I write about any thoughts I had throughout the day or any incidents that have occurred. When I first got here I only had some blank white printer paper and a very uncomfortable pen (thanks to Omar who provided me with these supplies). Now, after a shopping trip to the commissary I have a wide ruled notebook and a slightly more comfortable pen. In any case, around the third day of journaling I realized a great majority of what I was writing about was about food or at least somewhat tangentially related to food. I now make an effort to avoid writing about the food in my daily journal as it gets repetitive. However it got me pondering why so much of my energy went to writing about the food served in the “Chow Hall”. The conclusion I have come to is that so much of a prisoners day revolves around the three main meals and food quantity, quality, and variety in general, that it becomes a naturally big part of our daily life. At 6:00 AM a crackling static hiss fills the empty hallways and the sleeping rooms of the housing unit. A loud announcement proceeds from the overhead speakers embedded in the ceiling: “ATTENTION BATES UNIT: MAINLINE IS NOW OPEN”. This is our first call to food of the day. “Mainline” is some BOP lingo to mean meal time. Most prisoners avoid the 10 minute walk to the Chow Hall at this call to breakfast – myself included now. On Monday, Wednesday, and Friday there is supposed to be a “hot breakfast” which could be pancakes (always stodgy and undercooked) served with a brown liquid in a condiment package that is apparently margarine and another brown liquid in a condiment package which is some sort of syrup; French toast (actually pretty tasty) served with the same margarine and syrup; or biscuits and gravy (biscuits are good, avoid the gray soup that is less gravy and more dirty laundry water). Each of these is served with oatmeal or grits both quite tasteless and reminiscent of wallpaper paste. Though more often than not we do not get any of those things, we get something they call “spice cake” which is a giant piece of cake (without icing) where the batter is mixed with cinnamon until it turns brown. It doesn’t taste terrible, but one starts to resent the taste of cinnamon cake when it is served every morning (and again for lunch if there is any left over from breakfast – and there always is). Every other day is what we call Cold Breakfast. This consists of some sort of bran flake so stale it is reminiscent of eating cardboard. Even the most stoic prisoner who attends every breakfast will otherwise avoid the Chow Hall on a cold breakfast day. I do not remember if I told you about the multitude of ducks and geese who live on the compound. They were supposed to migrate south for winter at some point in the past, but instead they found such a hospitable environment among the prisoners who happily feed them leftovers (against the rules by the way) that they decided to forgo the instinct to migrate to warmth and stay here year round. They reproduced in the way only animals can and now there must be hundreds of geese and mallard ducks that waddle around the entire compound. These prisoner water fowl know the food schedule just as well as us human prisoners do. They wait by the exit of the Chow Hall for altruistic prisoners to throw them a few pieces of bread after every meal, quacking and squawking demanding their fair share. On Cold Breakfast days, throw the fowl the bran flakes and each one will refuse to eat them. That should tell you everything about the universally hated Bran Flakes. In any case, the 6:00AM Breakfast is the only time you have access to milk. You are offered two small cartons of fat free skim milk – which appears to be closer to water than milk – that is often several days expired. Usually the milk is still drinkable, sometimes however the carton swells so much it appears it is about to explode. That is a good indication the milk has soured. If you are given a sour milk, tough luck. The breakfast mainline closes somewhere around 20 minutes after it is called, so you scarf down your cake and oatmeal, you drink your two cartons of skim milk (or more commonly you pocket the milk to bring back to the housing unit for later use – which by the way is against the rules and may result in disciplinary action for contraband – with a more appetizing cereal you purchased from the Commissary). You make the 10 minute journey back to the housing unit to await the next break in the monotony of your life. Mainline lunch call. Lunch mainline is called around 10:45 AM. Calling it lunch is quite generous, really it is late breakfast. Indeed we often get “breakfast for lunch” which is quite universally hated on the compound. Cold scrambled eggs are usually on the breakfast for lunch menu. You really never know what you’re going to get at lunch time. They post a menu for the week in the housing unit, but from experience that appears to be more aspirational than factual. Some days you will receive a massive portion of “chicken fried rice” which is neither chicken or fried rice. It is turkey and some vegetables with some rice, but it is quite tasty, and somewhat nutritious. Other times you will get an overcooked tiny hamburger patty – that appears to be a piece of leather recycled from our issued work boots – on a stale and occasionally moldy bun with a few onions, a tomato slice, and some iceberg lettuce. We had this yesterday in fact, and it put a damper on the mood across the whole compound. As I put it to my cellmate Mike, “When the onions, tomato, and bun are the star of the show instead of the beef, that is a bad burger”. Portion sizes vary wildly. If the kitchen workers serving that day are black and you are black you likely will receive a bigger portion, maybe a second shoe leather patty. If they are Hispanic they likewise show favor to those of their heritage. I am not black, and while Hispanic, I do not speak Spanish and I look like a gringo, so no extra portions for me. Besides portion size disparity there is also a massive gulf in seasoning reliability. There are times that so much salt has been added you need a gallon of water by your side to replenish your fluids as you eat. Other times it is as if salt is the equivalent of gold and must not ever be used on something so trivial as food. Lunch ends around 11:15 and off we are sent to carry on with our day. Dinner mainline is called around 4:45 PM. I would consider this a late lunch but I do recognize that many people (my dear wife included) consider this an acceptable supper time. Again, the general rule is to expect anything. It may be something delicious or something inedible. You may get a double portion if you are the right race or a half portion if the server doesn’t like the look of you. It may be over seasoned, under seasoned, not seasoned at all. It may be listed on the calendar and it may not be. You never know what to expect, and that is my entire longwinded point as to why the food is such a popular thing to discuss among the prisoners here, and has taken up so much of my energy during my daily journals. Our entire day is couched by calls to eat food. 6:00, 10:45, 4:45, and each and every time it is called it is entirely unpredictable. Every other aspect of our lives here is extremely regimented, extremely predictable, very monotonous. But heading to the Chow Hall three times a day, that is throwing the dice of fate, that is an unknown variable in a well known equation. That is something different every day to talk about. You see the same people over and over again in your Unit. You run into the same person 50 times a day, and frankly you run out of things to say. You can only talk about how fucked up the Feds are, how you were shafted by the prosecutors, how your Judge was a bitch, so many times. The unknown variable of Chow Hall three times a day injects new blood into what could become a very stale social situation. Shared disgust at a horrible meal. Incredibility at how delicious the chicken parmesan was. Complaint at breakfast for lunch again! The shared ordeal of meal times maintains a common social order. You may have gathered from the above paragraphs that the food quality generally is quite low. Most ingredients are supplied by vendors who can get away with selling expired and close to rotten ingredients to the prison system. I have heard from kitchen staff that many boxes arrive in the kitchen labeled “Not For Human Consumption”. Our potatoes are mouldy, our canned vegetables long expired, our protein suspicious. You couldn’t legally give this quality of food away on the outside, but you can legally sell it to the BOP who will use it to feed the adults in their custody. Besides low quality ingredients and bland to actively disgusting recipes the nutritional value of our meals is extremely low. If you are a die hard disciple of the USDA Food Pyramid – bunk nutritional science that everyone but the slow moving feds recognize as a national tragedy, responsible for the exceptional rise of obesity rates – then yes, I suppose we are getting – on paper – the required nutritional value out of every meal. The on-the-ground results of a prolonged diet like one we are subjected to does not lie. I have spoke with many different prisoners, several of them doctors, who have come into the prison system as healthy adults and after several years of custody have developed chronic health problems. High blood pressure and high cholesterol seem to be the most common problems reported. Almost every prisoner is on some sort of prescribed medication for some ailment they developed whilst in custody. Because of the problems I have described. Many prisoners do not bother with the meal time calls to Chow Hall. I have met several prisoners who never go to the Chow Hall and only buy prepared food or cook for themselves. This is also not an ideal solution. The food items the commissary sells must be shelf stable, nothing that can spoil without refrigeration. This naturally means nearly everything is packed to the gills with preservatives and salt. On my first commissary day I purchased 10 pouches of chicken breast, several bags of quick cook ‘minute rice’, several pouches of dried mash potatoes, small bags of shredded mozzarella cheese (there is no expiration date on the cheese, so I suspect it is more preservatives than cheese), 10 pouches of tuna, mayonnaise (again, no need to refrigerate so quite suspicious), hot sauce (vital for making the Chow Hall food more palatable), salt, pepper, onion flakes, garlic powder, soy sauce, jelly, peanut butter, individually wrapped bagels, dried milk, and frosted flakes cereal. Next time I plan on buying granola, oatmeal, protein shakes, and tortillas. The food I am able to prepare is tastier than the chow hall, but I am not yet sure if it is healthier. It is also quite difficult. The only cooking tools legally available to you is: on demand hot water (190 degrees F) and a half gallon plastic jug. It takes some trial and error to cook under those conditions. It is a lot of hassle and expense which makes cooking for yourself prohibitive for those prisoners only relying on their prison jobs. Almost everyone on the outside who hasn’t been to prison themselves or have a loved one incarcerated does not think about the basic needs that individuals have in custody, or how those needs are met. The food and nutrition in the system is woefully inadequate. We need higher quality ingredients, fresh fruit and vegetables, and far more protein. We need better options for cooking our own food within the unit, something more than hot water. We need access to refrigeration so we can keep fresh produce and items not filled with preservatives. Thank you for reading this letter from the inside. I do not mean to use this opportunity writing you to complain. “It is prison after all” some of you will say, “it is not meant to be nice”. Anyway, complaining isn’t in my nature, and it often does nothing but make you and everyone around you miserable. I don’t write this letter looking for sympathy or condolences, I write to simply inform you of my reality, and the reality of countless number of people in the custody of the BOP. Happy New Year dear reader. I hope 2026 brings you (and me) great opportunities. Sincerely, Keonne Write to Keonne: Keonne Rodriguez 11404-511 FPC Morgantown FEDERAL PRISON CAMP P.O. BOX 1000 MORGANTOWN, WV 26507 Mailing Guidelines: Please note: You can only send letters (no more than 3 pages long). No packages or other items are allowed. Books, magazines, and newspapers must be sent directly from the publisher or an online retailer like Amazon. All letters must include a full return address and sender name to be delivered. This post Samourai Letter #3: Notes From The Inside first appeared on Bitcoin Magazine and is written by Keonne Rodriguez.