Bitcoin Magazine Kentucky Senate Passes Bill Protecting Bitcoin Self-Custody Rights Yesterday evening, the Kentucky Senate unanimously passed a bill aimed at protecting Bitcoin self-custody rights and digital asset mining operations. With a decisive 37-0 vote, the legislation, titled AN ACT relating to blockchain digital assets (HB 701), now moves to the Governor’s desk for final approval. NEW: Kentucky Senate passes bill that will protect Bitcoin self custody rights with 0 votes against it. The bill now heads to the Governors desk. pic.twitter.com/HPciWIgpZO — Bitcoin Magazine (@BitcoinMagazine) March 14, 2025 Sponsored by Representatives Adam Bowling and T.J. Roberts, the bill affirms the right of individuals to self-custody digital assets through self-hosted wallets. Additionally, it prevents local zoning laws from discriminating against digital asset mining businesses, ensuring that Bitcoin miners can operate freely within the state. The bill outlines several key provisions, including: Protection for Bitcoin self-custody : Individuals have the legal right to use and store digital assets in self-hosted wallets. Prohibition of discriminatory zoning laws : Local governments cannot impose zoning changes that unfairly target digital asset mining businesses. Exemptions from money transmitter licensing : Home Bitcoin miners and digital asset mining businesses are exempt from Kentucky’s money transmitter requirements. Clarification of securities laws : Digital asset mining and staking as a service are explicitly not classified as securities under Kentucky law. @Rawlings4Ky is carrying HB 701 which protects the use of digital assets and self-hosted wallets, prevents local zoning discrimination against digital asset mining businesses, and establishes guidelines for blockchain node operations. It shields node operators and staking… pic.twitter.com/1crnd8mqQS — KY Senate Majority (@KYSenateGOP) March 13, 2025 After passing through the Kentucky House with a 91-0 vote on February 28, 2025, the bill moved swiftly through the Senate. The March 13 vote saw full bipartisan support, with 37 senators voting in favor, zero opposed, and one not voting. The legislation now awaits the Governor’s signature, which would officially enshrine Bitcoin self-custody protections and digital asset mining rights into Kentucky law. If signed, Kentucky will become one of the more Bitcoin-friendly states in the country, setting a precedent for other states to follow. This post Kentucky Senate Passes Bill Protecting Bitcoin Self-Custody Rights first appeared on Bitcoin Magazine and is written by Nik .
Hundreds of thousands of Americans are now at risk of identity theft and privacy violations after a serious security breach at a personal healthcare firm. Kansas-based patient care firm Sunflower Medical Group says it witnessed a cybersecurity incident late last year affecting 220,968 Americans. Sunflower says an “unknown third party” illegally accessed the firm’s database, copying customer records including names, addresses, dates of birth, Social Security numbers, driver’s license numbers and medical and health insurance records. “On January 7th, 2025, Sunflower Medical Group, P.A. (‘Sunflower’) became aware of suspicious activity within its computer network. Sunflower promptly began an investigation, with the assistance of a leading cybersecurity firm. The investigation determined that an unknown third party accessed Sunflower’s systems on or about December 15th, 2024 and, during that time, acquired copies of files from Sunflower’s systems.” Sunflower is a multi-specialty medical practice that offers primary and urgent care services as well as a slew of laboratory exams. The firm says it abruptly sent letters to affected customers to inform them about the security incident while offering identity theft protection services to individuals whose Social Security or driver’s license numbers were compromised. For now, Sunflower says that it is not aware of any incident involving the misuse of customer data. The firm says affected users should stay vigilant and immediately report suspicious activities related to their personal or healthcare data. Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post 220,968 Americans Exposed As Major Data Breach Leaks Names, Addresses, Social Security Numbers, Medical Records and More appeared first on The Daily Hodl .
Sellers of risk assets are taking a breather on Friday, with crypto markets posting sizable gains along with U.S. stocks after a week of lame price action. Bitcoin topped $85,000 at one point during U.S. hours and is now trading at $84,400, up 4.7% over the past 24 hours. All cryptos in the CoinDesk 20 Index were higher during the same period, with Chainlink's LINK, Solana's SOL and SUI leading gains. The price action happened as risk appetite returned to traditional markets as well. The S&P 500 and the tech-heavy Nasdaq indexes were 1.7% and 2.3 up, respectively. Meanwhile, gold, whose price action trounced that of bitcoin during the selling of the past few weeks, backed down below $3,000 after crossing the level yesterday for the first time in its history. Today's bounce also propelled BTC back above its 200-day moving average after dipping below that trendline for the first time since last August's crypto correction. The 200-day moving average is a widely-used benchmark for traders and investors to gauge long-term trends for asset prices, often serving as support for prices to bounce in a bull market, while losing the level providing a risk-off or bear market signal. Closing the day above the moving average, currently at $83,767, would be a win for bulls, fueling hopes that the worst of the correction might be over for now. Otherwise, confirming the moving average as resistance could foreshadow a deeper pullback. Well-followed cross-asset trader Bob Loukas noted that bitcoin and stocks have more room to run "at least for a while," bouncing from oversold levels. "Feels like should be close to end of panic, for now at least, and spend at least a few weeks back recovering," he said earlier this week. "Then the market reassess."
Rex Shares launches BMAX ETF to provide corporate investors access to Bitcoin bonds. The ETF aims to create new investment opportunities in corporate debt and crypto assets. Continue Reading: Rex Shares Launches Innovative ETF to Connect Corporations with Bitcoin Bonds The post Rex Shares Launches Innovative ETF to Connect Corporations with Bitcoin Bonds appeared first on COINTURK NEWS .
Solana price is gaining attention as analysts identify bullish technical patterns that could drive it to new highs. Analysts suggest that Solana ($SOL) is forming a cup-and-handle pattern, a bullish continuation structure in technical analysis. If confirmed, this pattern could push the altcoin to an ambitious price target of $3,800. Solana Price Cup-and-Handle Pattern Hints at Possible Surge to $3,800 Technical analyst Ali Martinez highlighted on the X platform that Solana price is forming a cup-and-handle pattern. This formation consists of a rounded bottom (cup) followed by a brief consolidation (handle). If the price breaks above the resistance level at the cup’s peak, a strong upward move could follow. According to Martinez, this setup could trigger a rally toward $3,800 if the breakout occurs. The cup-and-handle pattern is a well-known bullish signal in technical analysis, often leading to strong price movements. However, the breakout confirmation remains crucial for this potential rally to unfold. Source: X Adding to the bullish prediction, a recent CoinGape price analysis highlighted that the top altcoin could hit $4,000 if market conditions align with previous cycles. The analysis pointed to strong technical support at key Fibonacci levels and increasing institutional interest, which could fuel a parabolic rally. Hidden Bull Divergence Signals Possible Recovery Additionally, Javon Marks identified another bullish pattern for Solana price, confirming a Hidden Bull Divergence. This pattern forms when the price hits lower lows while the Relative Strength Index (RSI) registers higher lows. It suggests underlying buying pressure, despite the recent price pullback. Marks projects that Solana price could recover to $270, representing a 107% gain from current levels. He also highlights $233.8 as a key resistance zone. A successful breakout above this level could set the stage for further gains, confirming the bullish momentum in the altcoin. Source: X If SOL price surpasses the $233.8 resistance, Marks predicts an upward move toward $457.97. This target would mark a 252% increase from current price levels. The altcoin’s bullish setup suggests that clearing this resistance could act as a catalyst for continued growth. At press time, Solana price is trading at $132, marking a 8% increase in the past 24 hours. The top altcoin market cap has surged to $67.28 billion, while the 24-hour trading volume has hit $3 billion. This bullish momentum suggests growing investor confidence, potentially setting up SOL for a further breakout in the short term. The post Solana Price Could Hit $3,800 if This Bullish Pattern Plays Out appeared first on CoinGape .
This is a segment from the Supply Shock newsletter. To read full editions, subscribe . Today, we’re reliving the journey of Nayib Bukele, the laser-eyed president of El Salvador who made bitcoin legal tender in a world first. It was one year ago today that El Salvador wisely moved its strategic bitcoin reserve into cold storage. Now, the country is sitting on over half a billion dollars in BTC. Fix the money The old adage goes, “do you wanna be right, or do you wanna make money?” El Salvador president Nayib Bukele has proven it’s possible to do both. Bitcoin was first and foremost freedom money to Bukele, as it was for activists like Alexei Navalny and Canada’s Freedom Convoy , among others. In late 2017, as Bukele was preparing to run for president, electoral authorities had reportedly threatened to freeze his campaign funds. His new party, Nuevas Ideas (New Ideas), was initially labeled a “movimiento ciudadano,” or “citizen movement,” which sought to disrupt the two-party political machine that had been in power since El Salvador’s civil war in the 1980s. But the government had pushed to ban donations to citizen movements for political purposes. Even after those efforts stalled, citizen movements were told to adhere to the same laws as political parties that required them to be formally approved before legally raising money. Bukele had supposedly suggested that Nuevas Ideas would accept bitcoin instead. And when the central bank shared a notice on Twitter reiterating that bitcoin is not legal tender in El Salvador, and that unauthorized individuals or companies cannot legally collect funds from the public in cryptocurrency, Bukele replied : “When they cannot stop a movement and they use all the state machinery to achieve it.” One day later, Bukele tweeted , “well yes, it’s official, we will use Bitcoin,” and tagged the Salvadoran central bank’s official account. Under Bukele, El Salvador has bought bitcoin through both bear and bull markets. The orange line is the price of bitcoin and the orange shaded area is El Salvador’s BTC balance. Nuevas Ideas was successfully registered about six months before the election. It collected 200,000 supporting signatures in just three days, well above the required 50,000. In February 2019, Bukele won with 54% of the vote and was inaugurated by June, becoming the youngest president in the nation’s nearly 200-year history. Meanwhile, bitcoin was at the very bottom of a grueling bear market, having retreated from almost $20,000 to under $3,200 in 14 months. It was around this time that the second domino was set up for Bukele. Bitcoin for good As California surfer and local volunteer Michael Peterson tells it, he was approached by an anonymous donor in early 2019 who was eager to spawn a Bitcoin-based circular economy in the Salvadoran beach town of El Zonte, where the overwhelming majority of citizens and small businesses were unbanked. Over time, bitcoin was increasingly accepted as payment around town and El Zonte would become known as “ Bitcoin Beach .” Peterson helped distribute funds to support youth work programs which paid BTC to local youngsters for picking up trash, fixing damaged water systems and repairing roads. Satoshi is alive and well in El Zonte – He is living a quiet life selling pupusas and continuing to stack sats pic.twitter.com/se22lqjWee — Bitcoin Beach (@Bitcoinbeach) November 20, 2024 Bitcoin Beach also funded educational grants, bus rides and snacks for commuting high school students and even universal basic income for 600 families during the pandemic, which had closed borders and forced unemployment to record highs. In June of the following year, at Bitcoin Miami 2021, Bukele announced his radical plan for El Salvador to adopt bitcoin as legal tender alongside the US dollar, having been directly inspired by Bitcoin Beach. The next day, Bukele donned laser eyes in his Twitter profile pic, capping off his evolution into full Bitcoiner. El Salvador’s legislative assembly approved the Bitcoin bill in that same week. Three months later, the Bitcoin Law came into effect, making El Salvador the first country in the world to adopt BTC. El Salvador mined bitcoin with volcano energy shortly after bitcoin became legal tender Despite a rocky rollout amid protests , more than 1.1 million users had still downloaded the official Chivo wallet in its first 11 days. Each one was eligible for $30 worth of bitcoin for free, Bukele’s way of helping onboard the nation. Main character energy All great protagonists need antagonists. For Bukele, on the world stage that’s the International Monetary Fund (IMF). Less than five months after the Bitcoin Law passed, the IMF was urging El Salvador to drop bitcoin as legal tender — halting loan talks and warning that it would be difficult to secure financing in the future. Those moves led to worries that El Salvador would default on its loans. Fitch even downgraded El Salvador’s debt following the one year anniversary of the Bitcoin Law. Undeterred, Bukele soon announced El Salvador would start buying 1 BTC every day, indefinitely. El Salvador now holds 6,114 BTC worth $507 million and is ahead by 78%, according to NayibTracker . El Salvador eventually repaid an $800 million bond as a sign of its financial strength. Fitch bumped up El Salvador’s debt by three notches in response, stating that default “no longer appears likely,” and Bukele was re-elected in a landslide victory nine months later in February 2024. Late last year, El Salvador bonds largely outperformed other emerging market debt as bitcoin rallied past $100,000. Bukele remarked it was the “first time in history that Bitcoin has driven sovereign bonds up in traditional markets.” Bukele’s Bitcoin tale, as it stands, is then bittersweet. The IMF had been negotiating the terms of a $1.4 billion loan to El Salvador ever since it adopted bitcoin, with the deal finally coming to a head in February. 🇸🇻BLOOMBERG: EL SALVADOR BONDS RALLY AS BITCOIN JUMPS PAST $100,000 MARK Bloomberg credits the bitcoin rally for driving El Salvador bonds even higher, making them among the top gainers in emerging-market debt. President Bukele put El Salvador on the path to prosperity. 🤑🚀 https://t.co/inNV1fO9pF — Stacy Herbert 🇸🇻🚀 (@stacyherbert) December 5, 2024 The IMF required El Salvador to drop bitcoin as legal tender, reverting it to an optional payment method for the private sector and forcing taxes to be once again paid only in US dollars. Arguably history’s biggest Bitcoin experiment to date had ended far too soon. Bukele and El Salvador continue to buy bitcoin, on most days at least. The IMF apparently knows about it and doesn’t mind, which implies that it’s not being purchased with public funds, but we don’t know for sure. All things considered, Bukele is actually not the main character of this story, something with which even he would surely agree. Bitcoin is the real antagonist. Bukele simply understood that earlier than any other world leader. Get the news in your inbox. Explore Blockworks newsletters: Blockworks Daily : The newsletter that helps thousands of investors understand crypto and the markets, by Byron Gilliam. Empire : Start your morning with the top news and analysis to inform your day in crypto. Forward Guidance : Reporting and analysis on the growing intersection of crypto and macroeconomics, policy and finance. 0xResearch : Alpha directly in your inbox. Market highlights, data, degen trade ideas, governance updates, token performance and more. Lightspeed : Built for Solana investors, developers and community members. The latest from one of crypto’s hottest networks. The Drop : For crypto collectors and traders, covering apps, games, memes and more.
The growing stablecoin supply suggests increased market liquidity and potential for continued crypto market expansion and trading activity. The post Rising stablecoin supply signals crypto’s bull run isn’t over yet appeared first on Crypto Briefing .
Based on whispers from unnamed insiders quoted by Reuters, Russia is reportedly turning to bitcoin, ether, and stablecoins as tools in its oil trade with China and India. These insiders, described as having “direct knowledge of the matter,” opted to stay in the shadows, citing the delicate nature of the topic. Shadow Claims: Russia Allegedly
A federal jury has convicted Rowland Marcus Andrade, the creator of AML Bitcoin, on charges of wire fraud and money laundering . The verdict was delivered after a five-week trial in a case that exposed false claims about the cryptocurrency and its supposed technological capabilities. Andrade, 47, now faces up to 30 years in prison. AML Bitcoin: False Claims And Misleading Investors Prosecutors revealed that Rowland Marcus Andrade made false statements about AML Bitcoin’s development, business partnerships, and its future use. He claimed that the Panama Canal Authority was close to adopting AML Bitcoin for transactions. No such deal ever existed. Investors were led to believe they were backing a revolutionary cryptocurrency with anti-money laundering features, but the technology Andrade promoted never materialized as promised. AML Bitcoin creator convicted of fraud and money laundering Rowland Marcus Andrade, the creator of AML Bitcoin, has been convicted of wire fraud and money laundering in a pump-and-dump scheme tied to a 2017-2018 initial coin offering (ICO). U.S. prosecutors accused Andrade of… — CoinNess Global (@CoinnessGL) March 13, 2025 Millions Diverted For Personal Gain The jury found that Andrade misused over $2 million from AML Bitcoin sales. Instead of funding the project, he spent the money on personal expenses, including the purchase of two luxury cars and two properties in Texas. Evidence presented at trial showed that he funneled investor funds through multiple bank accounts before using them for his own benefit. Law Enforcement Calls Out Fraudulent Tactics Officials involved in the case didn’t hold back in their statements. Acting US Attorney Patrick D. Robbins said Andrade lured investors with lies , only to enrich himself. FBI Special Agent in Charge Sanjay Virmani emphasized that the agency remains committed to protecting investors from financial fraud. IRS Criminal Investigation Special Agent in Charge Linda Nguyen also weighed in, stating that Andrade’s attempts to launder money were nothing new and that IRS experts specialize in tracing funds in such cases. Sentencing Scheduled For July 2025 Andrade will be sentenced on July 22, 2025. He faces a maximum of 20 years for wire fraud and 10 years for money laundering. The court may also order him to forfeit assets linked to the crimes, including the properties he purchased in Texas. The case was investigated by the FBI and IRS Criminal Investigation unit. Assistant US Attorneys Christiaan Highsmith, David Ward, and Matthew Chou led the prosecution, with support from Tina Rosenbaum. Featured image from DALL-E, chart from TradingView
The Solana ecosystem witnessed a historic moment in crypto governance as stakeholders overwhelmingly participated in a crucial vote on inflation reform, ultimately rejecting the proposal despite its significant impact. The SIMD-228 proposal aimed to transition Solana’s inflation system from a fixed schedule to a dynamic, market-based model. However, it failed to secure the necessary 66.67% approval, as it ended up attracting only 61.4% of participating votes in favor. While 43.6% of the total staked supply supported the reform, 27.4% voted against it, and 3.3% abstained. Despite the proposal’s failure , the high voter turnout, over 74% of staked supply across 910 validators participated in Solana’s governance process. SIMD-228 Ends in Defeat Multicoin Capital co-founder Tushar Jain described the event as the largest governance vote in crypto history by both participant count and market cap involvement. The proposal sought to address concerns surrounding Solana’s current inflation mechanism, which follows a predetermined path – starting at 8% annually and gradually decreasing by 15% per year until stabilizing at 1.5%. Proponents of SIMD-228 argued that dynamically adjusting inflation based on staking participation would optimize network security, reduce unnecessary token issuance, and encourage greater use of SOL in decentralized finance (DeFi). With Solana’s inflation rate at 4.66% and only 3% of the total supply staked, supporters believed the proposed model could help stabilize the network’s economic dynamics and make SOL more appealing to long-term holders. However, opponents of the reform highlighted several risks, including increased complexity, potential instability from abrupt changes in staking rates, and a negative impact on smaller validators who rely on inflation rewards for sustainability. While the proposal’s defeat means Solana’s existing inflation schedule remains in place, the vote served as a major governance stress test – one that Solana passed with high participation and strong debate. Jain added that the vote revealed opportunities for refining the governance process and hinted at potential improvements for future proposals. “I want to thank everyone who participated in the debate and put themselves in the public arena in service of advancing Solana governance. Public discourse is critically important and it takes a critical mass of people who really care. We ended up revising this proposal over 7 weeks on numerous occasions before it went to a final vote. That wouldn’t have been possible without the contributions of Solana’s passionate community.” SIMD-228 Criticisms Solana Foundation Executive Director Lily Liu had previously criticized SIMD-228, calling the proposal “too half-baked.” She argued that changes to Solana’s economics must be carefully considered, especially at this critical stage of development. The exec also criticized the dominance of network engineers in the discussion rather than asset managers, which she believed led to an imbalanced approach. Defending Solana’s fixed-rate yields, she highlighted their predictability as a key factor for institutional investors while citing the success of Solana’s staked exchange-traded products (ETPs) in Europe as proof of stability’s importance. The post SIMD-228 Inflation Proposal Rejected as Solana Community Engages in Record-Breaking Vote appeared first on CryptoPotato .