Cryptocurrency and Blockchain
Bitmine Immersion Technologies acquired 10,399 Ether to reach 4.8% of circulating supply, targeting 5% total ownership.
Ether treasury firm Bitmine Immersion Technologies purchased 10,399 Ether last week for $19.6 million, bringing its total holdings to 5,797,813 ETH valued at $10.9 billion. The accumulation brings Bitmine's balance to roughly 4.8% of Ether's 120.7 million circulating supply as it pursues a target of 5% of the network's total tokens. By locking approximately 85% of its ETH holdings into validator operations, Bitmine captures staking yields directly from the protocol while constraining spot market float for external market participants. Simultaneously, Bitmine repurchased 4.5 million common shares last week, bringing total share repurchases to 16.1 million shares since July 1 under its $4 billion buyback authorization. Total cash, crypto, and equity holdings reached $11.3 billion, alongside 209 Bitcoin. No dissenting view on Bitmine's balance sheet strategy was reported. Bitmine's trajectory toward total control would be disrupted if holdings fall back toward the nearly 10,000 ETH purchase rate announced on July 28. AMD reports earnings today after the close. Consensus EPS was not specified in the source material.
A New York federal judge denied without prejudice an emergency Commodity Futures Trading Commission request for a temporary restraining order to block New York State from prosecuting prediction market platform Kalshi. The jurisdictional conflict stems from New York Attorney General Letitia James suing Kalshi over allegations of operating an unlicensed gambling business through event contracts. The decision leaves state law enforcement actions active against Kalshi, which previously received a cease-and-desist order from the New York State Gaming Commission in October 2025. This preemptive clash forces federal derivatives regulators and state gaming authorities to litigate whether federal commodities law overrides state wagering statutes for retail event contracts.
Former supervisory special agent Patrick Steven Yarmoch was arrested in Virginia after admitting to extracting digital keys from internal FBI systems to steal over $1 million in cryptocurrency. Yarmoch targeted wallets belonging to foreign subjects investigated by his counterintelligence unit focused on an adversary nation. The compromised funds were funneled through accounts at centralized exchange Kraken and decentralized protocol Suilend on the Sui blockchain via a Slush wallet. The breach highlights critical operational vulnerabilities in government custody of seized digital assets, altering compliance procedures for institutional custodians and exchanges handling government-tracked addresses while exposing sovereign asset seizure protocols to insider exploitation risk.