Monday’s announcement that Texas Governor Greg Abbott set a moratorium on approval of ERCOT-linked data centers pending an audit won’t impact miners’ approved electricity contracts. Bitcoin miners with operations in Texas are not expected to be impacted by a moratorium on approval of data center projects connected to the state’s grid operator ordered by Governor Greg Abbott, Bernstein analysts said Tuesday. Abbott on Monday directed the Public Utility Commission of Texas and the Electric Reliability Council of Texas (ERCOT) to audit all data centers seeking to connect to the state’s power grid. The duration of the audit was not specified and comes amid increasing public backlash to the pace of data center build-out across the state, The Texas Tribune reported. Bernstein analysts told clients on Tuesday that as most of the Bitcoin (BTC) miners operating in Texas are under contract for approved electric capacity, those operations are unlikely to be impacted by the moratorium. Read more
XAUt added to its bullion backing during gold’s worst quarter since 2013, as tokenized commodity holder counts continued to rise. The physical gold reserves backing Tether Gold (XAUt) increased 9.5% in the second quarter, which Tether said reflected growing demand for tokenized gold exposure. Gold fell 14.1% during the quarter, its worst quarterly performance since the second quarter of 2013, data from TradingView shows. “Holders of Tether Gold are not only buying XAUt when the price of gold is rising. They are using periods of market weakness to increase their ownership of physical gold through a product that is fully backed, transparent, portable and accessible onchain,” said Paolo Ardoino, CEO of Tether, in Monday’s XAUt attestation report. Read more
Italy’s largest bank Intesa Sanpaolo increased its staked Ether ETF position to $7.1 million while reducing its holdings in two spot Bitcoin ETFs. Intesa Sanpaolo, Italy’s largest banking group, tripled its position in an iShares staked Ether exchange-traded fund during the second quarter while reducing its position in the iShares spot Bitcoin ETF. The bank reported holding 349,600 shares of the iShares Staked Ethereum Trust ETF (ETHB) worth $7.1 million as of June 30, according to Friday filing with the US Securities and Exchange Commission. That was up from 116,200 shares valued at $3.15 million at the end of March. Intesa retained 3.47 million shares of the ARK 21Shares Bitcoin ETF (ARKB) worth $67.6 million, its largest crypto-linked holding in the filing. The share count was down about 4% from the first quarter. Read more
The CNBC personality said he’ll sell his Bitcoin holdings due to fears about quantum computing, as some cryptocurrency investors celebrated, referencing the popular “inverse Cramer” meme. Former hedge fund manager and CNBC “Mad Money” host Jim Cramer said he plans to sell all his Bitcoin due to quantum computing fears. “I’m going to sell mine [Bitcoin],” said Cramer during a Friday episode, citing quantum computing concerns that IBM chairman and CEO Arvind Krishna had raised on his show the previous day. During Thursday’s episode, Krishna told Cramer that he should get “paranoid” about quantum computing’s threat to cryptocurrencies in the next three to four years. Read more
A former FBI supervisory agent pleaded guilty to stealing about $1 million worth of digital assets from an adversarial country and forfeited about $925,000 in funds to government-controlled wallets. Former FBI supervisory agent Patrick Steven Yaroch was charged with using internal systems to obtain credentials for cryptocurrency wallets linked to an adversarial country, which he used to transfer funds to his own crypto wallets. Yaroch admitted to 10 unauthorized transfers between late 2024 and early 2025 that involved an estimated total of $1 million in digital assets, some of which he deposited into Suilend to earn yield, according to a Saturday US Federal court filing. After self-reporting the incident, Yaroch was placed on administrative leave last Wednesday, terminated and then arrested on Friday. Agents retrieved devices, seed phrases and a Trezor wallet from his Virginia residence to access his accounts on Suilend and crypto exchange Kraken. With his cooperation, they transferred roughly $925,000 in fun...