How crypto dudes walk after turning $90 into $100: like they just printed a thousand X | CoinPhoton on Binance Square

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How crypto dudes walk after turning $90 into $100: like they just printed a thousand X

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U.S. Senator Cynthia Lummis has introduced a standalone bill proposing major crypto tax reforms. The bill includes a de minimis exemption for digital asset transactions and capital gains under $300, with a $5,000 annual cap. It also exempts crypto lending and charitable donations in digital assets from taxation, and delays taxes on mining and staking rewards until assets are sold. This is Lummis’ strongest push yet to support the crypto sector after digital asset measures were excluded from the spending bill. The bill addresses growing frustration over unclear crypto tax policy, especially regarding DeFi. Source: https://www.lummis.senate.gov/wp-content/uploads/Lummis-Crypto-Tax-Bill.pdf #CynthiaLummis #CryptoTax #Bitcoin #DeFi #CryptoRegulation

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Bitmine stock surges 3,000% on ETH treasury strategy Shares of Bitmine Immersion (BMNR), led by Fundstrat’s Thomas Lee, have surged more than 3,000% in under a week after announcing a $250 million fundraising round to purchase ether (ETH), making it the latest crypto proxy stock in the market. On Thursday alone, the stock doubled, exceeding $140. The private placement, priced at $4.50 per share and set to close today, attracted major institutional investors including Founders Fund, Pantera, FalconX, Kraken, Galaxy Digital, and DCG. Initially, Bitmine focused on crypto mining using immersion cooling and held $16 million worth of bitcoin before the capital raise. The company is now repositioning itself as a publicly traded proxy for ether exposure, similar to how MicroStrategy became a leveraged play on bitcoin. However, investors are urged to exercise caution. A similar case was Sharplink Gaming (SBET), which jumped over 4,000% following a $450 million fundraising announcement, only to plunge more than 90% just weeks later as the hype faded.

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Backpack CEO pledges compensation after trading errors post-maintenance Crypto exchange Backpack halted trading for scheduled maintenance on July 3 at 10 a.m. UTC and resumed operations two hours later. However, the restart triggered technical errors, including incorrect balances and reversed positions, prompting CEO Armani Ferrante to commit to compensation and a full review. A Brazilian trader reported a $104,000 withdrawal being returned as 891 SOL, while their margin debt expanded from 31,000 USDT to 111,000 USDT. A Chinese user claimed long positions were flipped to shorts and assets vanished without audit trails. Ferrante called the issue an “unacceptable programming error” and assured users that funds remain secure thanks to Backpack’s dual-layer MPC wallet system and cold storage. He invited affected users to contact support and promised that all exchange-caused losses would be reimbursed. To mitigate damage, Backpack's Chinese X account also promised to double points earned by users with active trading positions on July 3, in light of the upcoming native token airdrop. https://x.com/Backpack/status/1940705953080660436

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A large-scale malicious campaign has been uncovered involving over 40 fake Firefox extensions impersonating popular crypto wallets such as MetaMask, Coinbase, Trust Wallet, OKX, and Phantom. These extensions steal user credentials and transmit them to attacker-controlled servers, also collecting victims’ IP addresses for tracking. The attackers cloned open-source code, inflated fake 5-star reviews, and copied branding to deceive users. The operation has been active since April 2025 and is still ongoing. Technical indicators suggest the threat actor may be Russian-speaking. Koi Security advises users to only install extensions from verified publishers, implement allowlists, and continuously monitor extension behavior — highlighting the growing threat of browser extensions as a neglected attack vector. #Cybersecurity #Firefox #CryptoWallet #KoiSecurity Source: https://blog.koi.security/foxywallet-40-malicious-firefox-extensions-exposed-4c14419de486

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New SEC Chair Paul Atkins embraces tokenization as innovation, marking a departure from prior regulatory approaches. He vows to provide clarity and support crypto development. Under Atkins, the SEC approved Solana’s staking ETF and issued clearer digital asset guidance. Tokenization is seen as a bridge between traditional finance and blockchain, with over $24 billion in tokenized real-world assets. Institutions like JPMorgan are also exploring tokenization as a strategic business model.

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