🔔 MARKET MOVING NEWS! (15/06/25)
1️⃣ Russia Paying Teenage and Untrained Spies Using Bitcoin ❓
According to a Reuters report, Russia’s Federal Security Service has been using Bitcoin to pay teenage and untrained spies. The report detailed the recent case of Laken Pavan, a Canadian national who in December was sentenced to 20 months in prison in Poland after pleading guilty to aiding Russian intelligence.
The Reuters investigative report was conducted in partnership with blockchain analytics firms Global Ledger and Recoveris, who were able to trace $500 in BTC sent by a Russian intelligence handler to two intermediary BTC wallets. Notably, the investigation revealed that transfers to and from the wallets occurred during Moscow business hours. Onchain data analysed by the firms also showed the largest wallet processing BTC transfers worth a total of $600 million. This wallet reportedly sent funds to sanctioned Russian exchange Garantex.
2️⃣ SEC Clears Trump Media Filing, Opening Door To Multi-Billion-Dollar Bitcoin Buy 💸
The U.S Securities and Exchange Commission (SEC) has reportedly declared effective Trump Media’s registration for its previously-announced Bitcoin treasury plan. For context, the firm raised approximately $2.3 billion in capital from around 50 institutional investors recently. It remains unclear how much BTC the firm plans to acquire. However, the prospectus includes a universal shelf that allows the company to raise up to $12 billion worth of more stock, debt, or warrants at any time.
3️⃣ Brazil Sets Flat 17.5% Tax on Crypto Profits, Ending Exemption for Smaller Investors 🔍
Brazil has announced that it will be imposing a flat tax of 17.5% on all crypto profits. Notably, this scraps a long-standing tax exemption on cryptocurrency gains for individuals who were only selling up to R$35,000 (around $6,300) worth of crypto per month. In the previous tax regime, gains above that were taxed progressively, reaching as high as 22.5% for volumes over $5.4 million. The latest rule will see higher taxes being imposed on smaller investors, while bills shrink for larger holders.
4️⃣ Shaquille O’Neal to Pay $1.8M in Settlement Over FTX Promotion Lawsuit 💰
NBA legend Shaquille O’Neal has reportedly agreed to pay $1.8 million to settle a class-action lawsuit brought by investors in the defunct crypto exchange FTX. The lawsuit sought damages from O’Neal for his role in promoting the crypto exchange. Notably, the settlement is about $1 million more than the $750,000 O’Neal was paid for his role in an FTX commercial. If the settlement is approved, O’Neal will be released from all future claims tied to the lawsuit.
5️⃣ Solana ETF Applicants Submit Updated SEC Filings With Staking ‼️
Several ETF issuers have reportedly submitted amended S-1 forms for Solana exchange-traded funds with the U.S. Securities and Exchange Commission on Friday. The filings clarified language that would enable them to stake their held SOL. Bloomberg ETF analyst Eric Balchunas claimed this likely hints the agency is closer to approving some of these products, giving a timeline of two to four months for spot SOL ETFs to go live. Investment firms Franklin Templeton, Galaxy Digital, and VanEck were among the list of ETF issuers that submitted updated S-1s.
