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Utah is leading the race to establish the first state-backed Bitcoin reserve, with over 50 Bitcoin-related bills progressing across 22 states

With rising energy cost, many miners may not survive the 2028 halving, MARA said.

Bitcoin, the world's largest cryptocurrency by market value, dropped 5% to $84,201 at 21:56 GMT on Wednesday. Number two cryptocurrency Ether, gained 1.58% as of 22:06 GMT.

Despite gaining renewed prominence under the Trump administration, the memecoin has seen its value plummet recently.

(Bloomberg) -- With the so-called Trump bump fading across markets, Bitcoin options are showing that investors and traders are hedging against a decline in the cryptocurrency to levels last seen just after election day. Most Read from BloombergThe Trump Administration Takes Aim at Transportation ResearchShelters Await Billions in Federal Money for Homelessness ProvidersNYC’s Congestion Pricing Pulls In $48.6 Million in First MonthNew York’s Congestion Pricing Plan Faces Another Legal ShowdownNYC

The founder of a cryptocurrency financial services firm has been extradited from Portugal to face U.S. charges that he participated in a wide-ranging scheme to manipulate the market for digital tokens on behalf of client companies. Aleksei Andriunin, the founder and CEO of cryptocurrency "market maker" Gotbit, was ordered detained following an appearance in Boston federal court on Wednesday, one day after his extradition, the U.S. Department of Justice said. The 26-year-old Russian national during the court hearing pleaded not guilty to charges of wire fraud and conspiracy to commit market manipulation and wire fraud.

A joint resolution in Congress seeks to reverse a December move by the IRS to impose a tax regime in DeFi, and the House has taken the first steps to do that.