Bitcoin price climbed above $60,000 on Wednesday, a level the asset had ceded during the last couple weeks of turbulence, after Federal Reserve Chair Kevin Warsh told a central bank forum that the threat of persistent inflation had moderated.

The cryptocurrency traded near $60,171 this afternoon, a gain of about 2.7% on the day, with a 24-hour high of $60,474 and a low of $57,718. Trading volume for the session reached $26.68 billion.

Warsh, in remarks at the European Central Bank forum in Sintra, Portugal, said inflation expectations in surveys and bond prices had eased. He paired the observation with a warning that price growth remains too elevated and that the Fed will not accept inflation above its 2 percent target. 

“We’re going to deliver price stability,” Warsh said.

Markets read the balance as a tilt toward relief. Bitcoin advanced as U.S. stocks rose and the dollar retreated from a weekly high. A softer dollar tends to lift demand for Bitcoin and other risk assets.

The move offered a reprieve in a hard year. Bitcoin sits about 30% below where it started 2026 and more than $66,000 under its record of $126,277, a slide that has kept the bear-market label in view. Its market value stands near $1.2 trillion.

Strategy (MSTR) and Strive (ASST) jump over 10% at times in intraday trading

Bitcoin treasury companies posted sharper gains. Strategy, the software firm turned Bitcoin holder under Michael Saylor, rose close to 7.5% on the day — with highs of 13% during the day. Strive jumped more than 10% at times to $12.02. 

Both trade as leveraged proxies for Bitcoin, and their swings tend to exceed those of the coin. Strive has spent 2026 building a treasury that now tops 16,000 BTC, and the stock has climbed more than 100% across three months.

Earlier this week, Strategy released a new Digital Credit Capital Framework that raised the dividend on its STRC preferred shares to 12%, authorized up to $2 billion in share buybacks, and created a bitcoin monetization program allowing limited BTC sales for specific corporate purposes. 

The company also established a $2.55 billion U.S. dollar reserve to cover preferred dividends and debt interest, with board rules requiring at least 12 months of coverage at all times. Strategy said any bitcoin sales would be limited to replenishing reserves, funding dividends and interest when preferable to issuing equity, or financing stock buybacks, while reaffirming bitcoin as its primary treasury asset.

This post Bitcoin Price Reclaims $60,000 As Strategy (MSTR) and Strive (ASST) Jump More Than 10% first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

A new installment of Chain of Thought, the Brownstone Research newsletter written by Ben Lilly, argues that the battle over open-source artificial intelligence is following the same path Bitcoin walked a decade ago, and that investors who recognize the pattern stand to profit.

The note opens with testimony that Anthropic CEO Dario Amodei gave to Congress in July 2023. Amodei acknowledged that open source is “a good thing” in most scientific fields and that the risks of open models released so far were “relatively limited,” but he warned that the scaling of open-source models was heading “down a very dangerous path.” 

Lilly reads the subtext plainly: if open models are dangerous, then the closed models sold by companies like Anthropic are the safe choice — and the policy that follows is to restrict the open and elevate the closed.

Bitcoin’s early skeptics mirror what AI is facing

That framing is one digital-asset investors know well. 

He revisits Bitcoin’s early skeptics, from Rep. Jared Polis buying the first Bitcoin on Capitol Hill in 2014 to Sen. Joe Manchin’s call to ban a “dangerous currency,” through the 2023 accusations that regulators tried to cut crypto off from the banking system in what critics dubbed “Operation Choke Point 2.0.” 

The industry survived, he notes, and Washington is now moving toward clearer rules through the passed GENIUS Act and the pending CLARITY Act.

Decentralized AI, which Lilly calls “DeAI,” is having that same fight now. He points to recent developments as evidence the walls are going up: a U.S. export ban on Anthropic’s latest release, which he says will push the company toward permissioned access that verifies a user’s identity before granting a model, and OpenAI’s decision to restrict its GPT-5.6 rollout to trusted partners. 

He expects identity requirements to spread. “It’s for your protection, you see,” he writes. “It always is.”

The note leans on a national-security anecdote to explain the fear driving these moves. Lilly cites NSA chief Joshua Rudd, by way of Sen. Mark Warner, describing how Anthropic’s “Mythos” model broke into “almost all of our classified system, not in weeks, but in hours.”

Yet open source is closing the gap, according to the piece. Lilly says the recent GLM-5.2 scored on par with Anthropic’s Sonnet 4.6 from February, leaving open models roughly three to four months behind the frontier, and predicts an open rival to Mythos and GPT-5.6 by fall. 

He argues the bigger unlock is decentralized training on peer-to-peer networks that mirror Bitcoin and Ethereum — swapping compute-for-network-security for compute-for-model-training. Distributed training, he notes, has grown from sub-1-billion parameters to 100 billion in two years.

He names three early projects — Dark Bloom, which enables low-cost private inference on idle Macs; c0mpute, a decentralized inference network; and Pluralis, which trains AI across distributed consumer GPUs — and expects more to launch tokens and reward users for contributing compute.

The note ends with the notion that governments will try to ban open models and they will fail. For him, investing in the space “will be like buying Bitcoin in 2014, back when it was still ‘dangerous.'”

This post AI’s Bitcoin Moment: Why the Open-Source Fight Looks Like Crypto Back in 2014 first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

A pair of executive orders signed by President Trump on June 22 has pushed the quantum computing question from the research lab into the boardrooms of crypto exchanges, custodians and stablecoin issuers. 

In a June 24 sector comment, Moody’s Ratings warned that the credit implications for digital assets are significant, and that the industry now faces pressure to prove it can defend the cryptography at its foundation.

The orders make quantum computing and its security a strategic national priority. One directs the development of a quantum computer “powerful enough to initiate the era of quantum-enabled scientific discovery,” with system specifications due within 90 days. 

A second accelerates the federal migration to post-quantum cryptography, moving preparedness deadlines to 2030-31 from the prior 2035 target. 

That four-year jump is the detail crypto builders should note.

Moody’s frames the risk in stark terms for public blockchains. Bitcoin relies on public-key cryptography to secure ownership, authorize transactions and manage core infrastructure. A sufficiently capable quantum computer could break the elliptic-curve signatures that guard private keys. 

Unlike a bank wire, an on-chain transaction offers limited ability to reverse a theft or recover funds. As the analysts put it, compromised keys “may lead to immediate and irreversible on-chain outcomes.”

The finality that makes Bitcoin trustless also removes the safety net.

Moody’s: There is a 2030 deadline for a decentralized network

The near-term danger is not a working quantum machine but a strategy called “harvest now, decrypt later.” Adversaries capture encrypted data today and store it for the day a capable machine arrives, an event the industry calls “Q-Day.” 

For Bitcoin, dormant wallets and reused addresses with exposed public keys form a standing target. Satoshi-era coins, held in early pay-to-public-key outputs, sit among the most exposed.

Moody’s expects market participants to face growing demand for “cryptographic agility,” the ability to inventory, update and replace vulnerable algorithms without severe disruption. 

The firm suggests exchanges, custodians and tokenization platforms will need migration paths toward quantum-resistant standards, plus honest assessments of the exposure in existing wallets, custody arrangements and smart contracts.

There is a credit-rating logic underneath the warning. Institutions that present credible quantum transition plans, Moody’s argues, stand better positioned to win adoption from regulated financial players and to satisfy rising supervisory expectations on cyber resilience. 

For a sector courting Wall Street and pension money, quantum readiness becomes a gatekeeping requirement rather than a distant science project.

For Bitcoin, the technical fix exists in the form of proposed quantum-resistant signature schemes, but adoption demands consensus, soft forks and coordinated wallet migration across a decentralized network. That is the harder problem. Moody’s has now put a date on the deadline, and the clock reads 2030.

This post Moody’s Flags Quantum Threat to Bitcoin and Digital Assets After Trump Orders first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

A new class of Wall Street securities has grown from an experiment into a multibillion-dollar market in under two years, and a June 2026 research report from BitcoinTreasuries.net argues the expansion has just begun.

The report, produced in partnership with the DeFi protocol Apyx, tracks the rise of preferred shares issued by public companies and backed by their bitcoin holdings. Such shares now carry a combined market value of about $13 billion. That figure represents close to 1% of the $1.3 trillion global preferred market, a share the report’s authors expect to reach 3 to 5% by 2030 and as much as 10%, or $130 billion, beyond that horizon.

The instrument sits at the center of a financing puzzle facing companies that hold bitcoin as a treasury asset. Firms such as Strategy, led by Michael Saylor, want long-duration capital to buy more bitcoin without diluting common shareholders or taking on debt that must be repaid at a fixed date. Bitcoin’s price swings make that balance difficult. 

Bitcoin traded near $124,720 in October 2025, then fell to below $60,000s by mid-June 2026, a drawdown of about 47% in eight months.

Preferred shares offer a path around the problem. When a company issues them, its common share count does not rise, so existing owners avoid dilution. The shares are classified as equity rather than debt, which means no maturity date and no forced repayment. In exchange, holders receive a dividend that ranks ahead of common stock.

 For income investors shut out of bitcoin’s upside, the structure converts the token’s volatility into a yield product.

Preferred shares are pushing Bitcoin expansion

Those yields dwarf what fixed-income markets pay. The five main bitcoin-backed preferred securities in the U.S. carry effective yields between 10.8% and 15.2%, against the 3 to 4%offered on high-yield savings accounts. 

Strategy’s lineup accounts for most of the market: STRF, STRC, STRK and STRD together hold a market value near $12.5 billion. Strive, an asset manager turned bitcoin treasury company, issued a fifth security, SATA, with a market value around $330 million.

The report’s central claim is that demand outstrips supply. Fixed-income institutions such as mutual funds, banks, pensions and insurers hold $10.9 trillion in U.S. treasuries. A shift of 10 to 20 basis points from that pool would generate $10.9 billion to $21.8 billion in demand, enough to validate the near-term market projection on its own. 

Supply, though, is capped by the amount of bitcoin available as collateral. Of the 20 million bitcoins in circulation, holdings in exchanges, spot ETFs and mining firms are excluded as customer assets or operating reserves. 

That leaves the 1.26 million bitcoins held in corporate treasuries, worth about $83 billion. Strategy alone controls some 845,000 of them, or 67%.

Collateral coverage is the feature the report leans on to make the case for safety. Bitcoin-backed preferreds maintain coverage ratios of 3.8 to 4.5 times, meaning issuers hold $3.80 to $4.50 in bitcoin for every $1 of preferred equity.

 By comparison, the median large-bank mortgage in the third quarter of 2025 advanced 76 cents against every dollar of home value. “The security of these instruments is significantly higher than 95% of the bonds in the market,” Jeff Walton, chief risk officer at Strive, said in the report, “because they’re actually backed by capital, not future cash flows.”

Not every firm qualifies to issue. Walton set out requirements: a clean balance sheet free of senior secured debt, scale to support an issuance of $100 million or more, and a team versed in tax treatment, covenant design and dividend policy. 

Encumbered bitcoin, he said, ranks ahead of preferred equity and would block most deals. Strive itself used a $225 million SATA offering in January to retire debt inherited from its acquisition of Semler Scientific, a move that left all of its bitcoin unencumbered.

The risks are structural rather than hidden. Strategy’s common stock, MSTR, acts as a volatility amplifier, and it has fallen more than bitcoin over the past year. “When bitcoin’s price declines, Strategy’s will dip more,” said Tony Lau, an investment partner at Primitive Ventures, who described a possible cascade in the stock. 

Three of the four Strategy preferreds trade at discounts to their $100 par value. The dividends themselves depend on a company’s ability to keep raising capital against a rising bitcoin price, though both Strategy and Strive have disclosed cash reserves sufficient to cover at least twelve months of payments.

Strategy CEO Phong Le told investors in February that the firm’s balance sheet holds unless bitcoin falls to $8,000 and stays there for five or six years.

For now, the report frames preferred equity as an instrument in its “0 to 1 moment” — a market where appetite exceeds what issuers can produce, and where the gap favors the companies willing to build the product.

This post Preferred Stock Is Becoming Bitcoin Treasury Firms’ Financing Tool of Choice: Report first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Standard Chartered has executed its first digital asset prime brokerage trades with LMAX Group, a milestone in the build-out of institutional market infrastructure for crypto. 

With this move, the bank became one of the first Global Systemically Important Banks (G-SIBs) to test a prime brokerage model for digital assets inside established risk, compliance and market frameworks.

The pilot covered spot Bitcoin (XBT/USD) with T+1 settlement through Standard Chartered’s UK branch. These were the bank’s first digital asset credit intermediation trades under a prime brokerage structure. 

The transactions ran on LMAX Digital, LMAX Group’s regulated institutional venue, with Standard Chartered Prime Brokerage acting as the credit intermediary between counterparties. Settlement completed through the bank’s digital asset custody platform in the Dubai International Financial Centre (DIFC).

Prime brokerage has underpinned equities and foreign exchange for decades, giving institutions a single counterparty for credit, execution and settlement. Crypto has lacked that layer. As capital shifts away from direct exchange access, the gap has widened: in 2025, flows through prime brokers and OTC desks grew at more than 10 times the rate of flows into exchanges.

A digital asset prime brokerage at scale needs a counterparty with the governance, risk discipline and credit capacity to stand behind institutional trades. Most global banks have partnered with crypto-native firms or stayed on the sidelines. 

Standard Chartered said their approach differs: the bank is stepping in as credit intermediary on its own balance sheet, with LMAX Group supplying the regulated execution infrastructure beneath it. 

In short, a bank is bringing its own balance sheet to digital assets rather than renting someone else’s.

What the Standard Chartered pilot validated

The transactions confirmed core controls across credit, margin, risk management, trade booking, settlement and reporting, and showed the model operating inside existing regulatory frameworks. 

The test brought together LMAX Group’s execution and matching technology with the bank’s client connectivity, electronic messaging, trade matching and an early validation of netting approaches. It offered a view into how traditional and digital asset infrastructure can operate as one workflow.

The two firms describe the pilot as a step toward a roadmap for scalable, institutional-grade market infrastructure. 

It builds on the digital asset trading capability Standard Chartered launched in 2025.

“This pilot is part of our broader strategy to build a comprehensive institutional-grade digital asset platform, spanning custody, trading and prime brokerage,” said Alison Higgins, Head of Prime Services at Standard Chartered. “As demand accelerates, we are helping our Prime Brokerage clients capture new opportunities backed by the risk management, controls and balance sheet strength they expect from a G-SIB.”

David Mercer, CEO of LMAX Group, framed the trade as a fix for a structural gap. “The lack of credit counterparties with robust balance sheets on the scale that we see in traditional finance has been a critical missing mechanism in the digital asset market to date,” he said. “This is a great example of the impending convergence of TradFi and digital assets to a cross-asset capital markets future.”

This post Standard Chartered and LMAX Group Execute First Live Digital Asset Prime Brokerage Trades first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Citigroup took a red pen to its crypto forecasts on Tuesday, cutting its 12-month price targets for bitcoin after the ETF flows that carried the market higher went into reverse.

The bank now sees bitcoin at $82,000 a year out, down from $112,000. It’s the second time Citi has trimmed those numbers in 2026. An earlier round of cuts had already pulled bitcoin down from $143,000. 

What changed most is how Citi thinks about Bitcoin ETFs. The bank had been penciling in $10 billion of net inflows over the coming year. It now expects zero. 

That is a big swing, and it reflects what has happened in the funds themselves: BTC ETFs have shed roughly $3.3 billion in 2026, and June alone saw $4 billion walk out the door — the worst month on record for the products.

Citi’s analysts tied the downgrade to a mix of softer investor demand, those negative ETF flows, and a Washington that has yet to move on digital asset legislation. 

They also raised a more specific worry: that digital asset treasury companies, which have loaded up on bitcoin, might start selling. Add in a broader shift of money toward anything with an AI label, and the setup for crypto has turned defensive.

If things get worse, they could get a lot worse. Citi’s bear case — built on a recession and a steady drip of ETF withdrawals — puts BTC at $53,000 over the next 12 months.

Bitcoin price jumps above $60,000

Bitcoin currently trades at $60,041, up $1,698 (2.91%) on the day, per the live chart dated July 1, 2026. 

Over the past 24 hours it swung between a low of $57,717.55 and a high of $60,473.99, with the biggest push coming after 9:00 a.m., when price broke from around $58,500 up past $60,400. 

Volume ran to 446,377 BTC, or $26.85 billion. Market cap sits at $1.20 trillion, according to Bitcoin Magazine data.

Back in April, Citi said adding bitcoin alongside gold could improve portfolio performance, arguing that splitting a traditional 5% gold allocation between the two assets enhanced returns while providing better resilience during inflationary and bond market stress. 

The report also noted BTC was increasingly behaving as both a geopolitical hedge and a neutral settlement asset, with analysts pointing to strong price momentum, bearish derivatives positioning that could fuel further gains, and BTC outperforming gold during recent market volatility.

This post Citi Slashes Bitcoin Target to $82,000 as ETF Money Heads for the Exits first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

American Bitcoin Corp. (Nasdaq: ABTC), a Bitcoin accumulation platform focused on the buildout of America’s Bitcoin infrastructure backbone, has set the effective time of its 1-for-15 reverse stock split for 5:00 p.m. on July 2, 2026. 

The board fixed the ratio after shareholders granted their approval at the company’s 2026 annual meeting on June 22.

The common stock will begin trade on a reverse split-adjusted basis on The Nasdaq Capital Market under the same symbol, ABTC, at the market open on July 6.

What this means is that every 15 issued and outstanding shares of Class A common stock will reclassify into one share of Class A common stock, and every 15 issued and outstanding shares of Class B common stock will reclassify into one share of Class B common stock, each subject to adjustment for fractional shares.

The company has no Class C common stock outstanding. The step reduces the share count from 1,092,295,800 shares — 360,070,897 of Class A, 732,224,903 of Class B, and no Class C — to close to 73 million shares, a figure that comprises some 24 million shares of Class A, some 49 million shares of Class B, and no Class C. 

The reverse split leaves the number of authorized shares and the par value of each class unchanged, according to the company.

Participation at the June 22 meeting reached a high level, with close to 93.56% of voting shares represented, the company said.

Two other measures passed at the same session: Asher Genoot joined the board as a Class I director, and KPMG LLP gained ratification as the company’s auditor for the fiscal year that ends December 31, 2026.

American Bitcoin’s background

American Bitcoin traces its roots to American Data Centers, the venture rebranded in March 2025 when Eric Trump and Donald Trump Jr. joined mining infrastructure firm Hut 8 to launch the company. 

Hut 8 contributed mining assets for an eighty percent stake, while the Trump family and American Data Centers shareholders held the rest. Eric Trump serves as co-founder and chief strategy officer.

Rather than pursue a traditional IPO, the company merged with Gryphon Digital Mining and used its Nasdaq listing as a vehicle. 

American Bitcoin began trading in September 2025 as a pure-play miner and Bitcoin treasury platform. The reserve has since climbed past 6,000 BTC, though the shares have seen sharp swings amid crypto volatility.

This post Trump-Backed American Bitcoin (ABTC) Sets Reverse Split for July 2 first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

America’s top securities regulators marked the nation’s 250th anniversary with a common theme: open markets, broader investor access, and a clear legal framework for digital assets.

SEC Commissioner Hester Peirce, in an interview on the Searching for Mana podcast, said she expects the Clarity Act to pass this summer. The bill has cleared the House and awaits Senate action. Peirce, a veteran of the Senate Banking Committee during the financial crisis, called it a large piece of legislation with many moving parts, and she praised the work of members in both chambers.

The Clarity Act would divide oversight of crypto between the SEC and the Commodity Futures Trading Commission and build a federal structure for spot markets, a structure that does not exist at present. 

Peirce said the framework would clarify the application of the Howey Test — the standard for when a token counts as part of an investment contract — and would shield developers from liability when others misuse their tools.

Peirce argued that past enforcement pushed the industry onto a poor path. The old approach, she said, rewarded builders of throwaway projects and made honest actors hard to tell apart from fraudsters. Her hope for the current window is a shift toward products that meet real human needs.

“This is a rare window where you have a lot of regulatory goodwill,” Pierce said. “Use that to build things that last, things that matter.”

She tied the technology’s promise to the transfer of value across networks, the removal of costly intermediaries, and the use of smart contracts to automate back-office work. 

Tokenized securities, she said, could improve collateral mobility, ease securities lending, and let issuers reach shareholders through their wallets. She also linked crypto to artificial intelligence, and predicted that AI agents will transact with crypto assets.

On AI regulation, Peirce favored a hands-off stance: allow experimentation, and address harms as they surface rather than shape the technology from the start. She noted that a firm’s use of AI does not excuse the firm from responsibility for the outcome.

Peirce, whose term nears its end, will leave the agency for a law school teaching post. She flagged a rise in scams and a gap in financial education as her chief concerns, and urged investors toward skepticism.

SEC Chair Paul Atkins chimes in

The SEC’s chairman, Paul Atkins, struck similar notes in a Fox News interview with Larry Kudlow after an address to the Economic Club of New York. 

Atkins cast himself as an advocate of free-market capitalism and pointed to a series of reforms aimed at drawing more Americans into public markets and easing the path to an IPO.

“America was an investment before it was a nation,” Atkins said.

Atkins highlighted the Trump Accounts, set to launch on July 4th, as an expression of American capitalism and long-term saving. He said about 6 million children have enrolled, and that children born in the next two years will receive a $1,000 deposit, with room for matches from employers, parents, and friends. 

The accounts, he said, function as a version of a traditional IRA and give a stake in the market to children who might lack exposure to it at home.

“America was an investment before it was a nation,” Atkins told Kudlow, citing the European companies that financed voyages across the Atlantic, including the settlement that became New York.

On crypto, Atkins said the president had challenged the agency to make the United States the crypto capital of the world. He faulted the prior administration for treating digital assets as suspect by nature, and pledged a reversal that would bring innovators who left the country back to build under American law, for American investors, who could judge the products for themselves.

Both officials framed their agenda against the backdrop of the July 4th holiday and the anniversary of the founding. Peirce called the market system a powerful force for social good and a check on capital allocation by the government. 

Atkins offered a shorter version of the same creed: free-market capitalism, in his words, will win.

This post SEC’s Peirce Sees Clarity Act Passing This Summer as Crypto Rules Take Shape first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Taiwan’s Legislative Yuan approved the Virtual Asset Service Act in its third reading on Tuesday, the island’s first comprehensive framework for the crypto sector. Lawmakers sent the bill to President Lai Ching-te, who is expected to sign it into law within ten days.

The act establishes a licensing regime for all virtual asset service providers in Taiwan and hands broad oversight to the Financial Supervisory Commission (FSC). Under the law, crypto businesses must secure FSC approval before operating in Taiwan. The framework covers seven categories of providers, including exchanges, trading platforms, transfer firms, custodians, underwriters and lending services.

The legislation creates Taiwan’s first stablecoin framework. Issuers must win approval from both the central bank and the FSC before releasing tokens. The law requires them to hold full reserves, place those reserves in trust, and submit to routine audits and public disclosures. 

Domestic stablecoin issuance is restricted to banks, a measure that ties the emerging asset class to the country’s established financial institutions.

7 years in prison for breaking the rules

Penalties for breaking the rules are steep. Operating an unlicensed virtual asset service, or issuing a stablecoin without approval, can bring up to seven years in prison and fines that reach NT$100 million ($3.14 million). 

Fraud and market manipulation carry sentences of three to ten years and fines between NT$10 million and NT$200 million ($314,000 to $6.28 million).

To ease the shift, the FSC set a transition window for firms that completed anti-money laundering registration before the law takes effect. Those companies get twelve months to file license applications and up to twenty-one months to obtain full approval. The FSC said it can extend the window by three months, a one-time option.

The vote positions Taiwan among a growing list of jurisdictions moving from patchwork guidance to a single statute. Kenya and Ghana signed virtual asset laws in recent months, and lawmakers across Asia continue to draft rules for exchanges and stablecoin issuers. 

Taiwan’s approach pairs an open door for licensed operators with some of the region’s harsher criminal penalties, a balance regulators framed as a bid to protect investors without stifling the industry.

Taiwan’s embrace of bitcoin and crypto

The passage builds on a broader shift in Taiwan’s stance toward digital assets. The government has disclosed holdings of 210 bitcoin valued near $18 million, and officials have floated plans to launch a strategic bitcoin reserve and study broader BTC regulation.

The new act gives that ambition a legal foundation, defining who may operate, under what conditions, and with what consequences for those who ignore the rules.

This post Taiwan Passes Crucial Crypto Law With Licensing Rules, Stablecoin Framework first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

President Donald Trump holds more than $50 million in Bitcoin, stored in cold wallets, according to his 2025 annual financial disclosure released by the U.S. Office of Government Ethics. The filing is a detailed federal accounting of the president’s personal crypto position since he took office in January 2025.

In total, Trump reported generating more than $1 billion in crypto-related revenue last year, including $635 million in royalties from his memecoin venture and more than $500 million from token sales associated with World Liberty Financial.

The headline figure of over $50 million sits in a single line of the report. Under the entity CIC Digital LLC, an asset described as a “Cryptocurrency Wallet Virtual Bitcoin Key (held in cold wallet)” carries a valuation of “Over $50,000,000,” the highest bracket the disclosure form permits. 

The form does not require a precise number above that threshold, so the true size of the holding could exceed the stated floor. The Bitcoin line reported no income for the period, a result consistent with an asset held rather than sold.

The Bitcoin sits inside The Donald J. Trump Revocable Trust, dated April 7, 2014, of which the president is the sole beneficiary. That structure places the holding within the same trust that controls his stake in Trump Media & Technology Group, the parent of Truth Social. 

The cold-storage designation indicates the private keys are kept offline, a method that removes the asset from internet-connected systems and the custody of a third-party exchange.

Bitcoin is one of several digital assets in the cold wallets tied to CIC Digital LLC. The same entity reports an Ethereum key valued between $5 million and $25 million, a staked Ethereum position through a Coinbase staking agreement that produced $510,808 in validator rewards, a USDC stablecoin holding in the $5 million to $25 million range, and a smaller dollar-denominated wallet. 

Across the two largest asset classes, Bitcoin and Ethereum, the disclosed value runs past $100 million.

Separate disclosures also report that Vice President JD Vance holds Bitcoin valued between $250,000 and $500,000. Vance’s holdings have been previously reported. 

Trump and World Liberty Financial’s holdings

A second cluster of crypto holdings appears under entities connected to World Liberty Financial, the decentralized-finance venture that carries the Trump name. 

Those wallets include a separate Bitcoin key valued at “Over $50,000,000,” an Ethereum key in the same top bracket, and positions in other crypto. The World Liberty entries also record large income figures tied to token sales, including more than $236 million in net proceeds distributed by World Liberty Financial LLC and a $150 million income figure on the Ethereum line. 

Trump’s disclosure reports more than $500 million in proceeds from token sales tied to World Liberty Financial, the Trump-linked venture behind the WLFI governance token, with the company’s combined wallet entries summing to roughly $527 million. 

The filing also records a $635,068,835 royalty payment under CIC Digital LLC, linked to a meme-coin licensing agreement with Celebration Coins. A related entity, DTTM Operations LLC, lists 15.75 billion World Liberty governance tokens valued in the top bracket.

The disclosure arrives at a moment when the president’s crypto interests intersect with his administration’s policy agenda. Trump has called himself somewhat of an ally of the digital-asset industry, and his government has moved to establish a federal posture toward reserves and regulation. 

The personal holdings detailed in the filing give the public a direct view of the scale of the assets the president owns in the sector his administration oversees.

A sitting U.S. president now reports holding more than $50 million of Bitcoin in self-custody, in cold storage, in the same manner long advocated by Bitcoin holders who prize control of their own keys. 

What the filing does not reveal is when the Bitcoin was acquired, at what price, or how the holding has changed across the year. The form’s bracket system caps reporting at the $50 million ceiling and offers no window into cost basis or timing. 

It’s important to note that the $635 million royalty figure appears as a single line in the filing (recorded under CIC Digital as a license agreement with Celebration Coins, which the document does not explicitly label a “memecoin”), the “more than $500 million” from World Liberty Financial and the “$1 billion” total are aggregations compiled by Bitcoin Magazine. 

The filing’s single stated token-sales line is $236.25 million, and larger figures were found by summing multiple separate crypto-wallet entries. It’s also worth flagging that several of these amounts are described as gross “proceeds from token sales distributed by World Liberty Financial LLC,” so they don’t necessarily represent net income to Trump himself.

This post President Donald Trump Discloses More Than $50 Million in Bitcoin Held in Cold Storage first appeared on Bitcoin Magazine and is written by Micah Zimmerman.