Bitcoin ASIC producer Bitmain under US investigation over national security risks: Report

Bitmain, a leading Chinese Bitcoin mining hardware manufacturer, is currently under investigation by U.S. federal authorities over national security concerns. The scrutiny arises from potential risks related to espionage or sabotage, particularly in ventures backed by the Trump family. Bitmain has denied any wrongdoing amidst these allegations.

US authorities are investigating Chinese Bitcoin mining hardware giant Bitmain over potential national security risks tied to alleged remote capabilities, according to Bloomberg.

The US is investigating Bitmain, a Chinese Bitcoin mining hardware manufacturer, due to national security concerns. This inquiry reflects the escalating tensions between the US and China and raises alarms regarding the influence of foreign technology on national security infrastructure.

In November 2024, Bitcoin's price dropped over 20%, primarily influenced by the US market, while Asian traders continued to buy the dip, indicating a significant regional sentiment divide. Long-term holders, including MicroStrategy, and positive on-chain data suggest that this price movement is a correction within a bull market rather than the onset of a new crypto winter.

Bitcoin's price has experienced a significant correction, dropping alongside major US equities due to a tech-led sell-off and investor concerns regarding AI spending and shifts in Federal Reserve policy. This downturn marks a period of heightened volatility in the cryptocurrency market.

A proposed bill in the United States would allow Americans to pay their taxes to the IRS using Bitcoin (BTC). The tax revenue collected in Bitcoin would be directed into a strategic BTC reserve, and this payment method would not trigger a taxable event for the payer.

A Congressman has introduced a bill that would allow Bitcoin tax payments and support the establishment of a strategic Bitcoin reserve in the United States. This initiative aims to enhance financial security, diversify assets, and maintain the country's global leadership in cryptocurrency.

21Shares, a prominent crypto ETF issuer with $8 billion in assets, has expanded its offerings in Europe by listing six new cryptocurrency exchange-traded products (ETPs), including Aave and Chainlink. This move comes as the market sees a surge in new crypto ETFs in the US, reflecting growing investor interest in digital assets.