LATEST: $1 Trillion Tesla Reports $1.2 Billion in Bitcoin Holdings for Q2 2025

Tesla’s bitcoin holdings have jumped to approximately $1.2 billion, following a 30% surge in the cryptocurrency’s price during the second quarter. The company holds 11,509 BTC, making it the tenth-largest publicly traded firm with bitcoin on its balance sheet, according to BitcoinTreasuries.Net. Bitcoin is currently trading around $118,000, up from $83,000 on April 1.

Thanks to a new rule by the Financial Accounting Standards Board (FASB), companies can now report the fair market value of crypto assets each quarter. This rule, which took effect in Q1 2025, replaces the older method that required reporting digital assets at their lowest value during the holding period, often ignoring market rebounds.

Tesla can now recognize its bitcoin gains quarterly, giving shareholders a clearer and more accurate view of its digital asset performance. The update is seen as a positive shift for corporate crypto adoption, offering more transparency and encouraging other firms to follow suit.

Report

Mistrial Motion In Tornado Cash Case Is Unlikely

IRS Special Agent Stephan George’s testimony regarding some of Hanfeng Lin’s stolen funds having been put through Tornado Cash seemed credible enough to inhibit the defense from submitting a motion for a mistrial.

On Monday, the defense in the Tornado Cash trial floated the idea of submitting a motion for mistrial after FBI Special Agent Joel DeCapua stated that he hadn’t traced the funds stolen from the first witness in the case, Hanfeng Lin, to the Tornado Cash mixing service.

However, after today’s testimony from IRS Special Agent Stephen George, the second witness that the prosecution called on with the training in tracing assets on public blockchains, the odds of…

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How Helium demonstrates crypto’s utility

This is a segment from The Breakdown newsletter. To read more editions, subscribe.

“Anything that won’t sell, I don’t want to invent. Its sale is proof of utility.”

— Thomas Edison

The first idea that put Helium co-founders Amir Haleem and Shawn Fanning (of Napster fame) on the long road to building a decentralized, crypto-powered mobile network had nothing to do with decentralization, crypto or mobile networks.

Instead, they were looking for a way to keep track of the very expensive drones they kept losing over windy San Francisco.

It’s not surprising that it turned into something else — the tech industry has a rich history of unintended consequences…

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Japan, US strike trade deal that leaves US car makers out

This is a segment from the Forward Guidance newsletter. To read full editions, subscribe.

With days to go before the new trade policy deadline takes effect, the US struck a deal with Japan.

President Trump announced the deal — a 15% tariff rate on Japanese exports to the US — late last night via a Truth Social post. The rate is lower than the previously proposed 25% levy and also applies to cars and auto parts. 

A photo shared on X by Dan Scavino, Trump’s deputy chief of staff, suggests officials were making changes to the policy up until the last minute. The document in the picture had been edited by hand, with $400 billion crossed out and replaced with… Read more on Blockworks

LATEST: Robinhood Now Offers ETH And SOL Staking Services To US Users

Robinhood has launched Ethereum and Solana staking services for U.S. users, starting July 10, allowing customers to earn rewards with as little as $1. This feature enables retail investors to participate in crypto staking without needing to run validator nodes. For Ethereum, Robinhood will pool user stakes to meet the 32 ETH requirement, offering between 50% and 100% of protocol rewards depending on network conditions.

Solana staking is also now live, with Robinhood managing the technical process to make it simple for users. Staking is not available in California, Maryland, New Jersey, New York, and Wisconsin due to regulatory restrictions. Starting in October 2025, Robinhood will introduce a 25% commission on staking rewards, in addition to third-party provider fees, which the company says are consistent with industry standards.

The launch supports Robinhood’s broader crypto expansion strategy, following its acquisitions of Bitstamp and WonderFi. The company is also building its own blockchain on Arbitrum to support on-chain equity trading and decentralized services.

The case for how crypto can Stop Killing Games

This is a segment from The Drop newsletter. To read full editions, subscribe.

Crypto comes in waves. And like surfing, it’s entirely possible to paddle too early and miss out altogether.

Some of the biggest phenomena in crypto have caught their respective waves with precision.

Markets change…

Yuga Labs rolled out Bored Apes in April 2021, as bitcoin and ether were headed to their first major peak of that bull market cycle.

More recently, pump.fun nailed it when it deployed in January 2024 — just as SOL was about to double in price in two months on the back of bitcoin ETFs.

Both companies are now case studies in capturing and monetizing the attention of…

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Bitcoin Stalls Below $118,000 As Traders Brace For Deeper Pullback

Bitcoin BTC/USD remains stuck around the $118,000 level, with traders increasingly cautious as key support zones weaken.

The lack of bullish momentum has prompted several to exit long positions and wait for a deeper retracement before re-entering.

What Happened: CrediBULL Crypto stated on Wednesday that he exited his Bitcoin longs after both the blue zone and hourly demand were breached.

While price hasn’t fully broken down, the repeated failure to hold those supports prompted him to adjust stops and step aside.

A brief bounce followed the liquidity sweep, but persistent passive selling pressure continues to cap price action, mirroring behaviour observed at the previous two local tops.

In…

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LATEST: Matador Technologies Raises $100 Million To Expand Bitcoin Reserve

Matador Technologies Inc. has signed a $100 million secured convertible note facility with ATW Partners, aiming to expand its Bitcoin-focused treasury strategy. The deal includes an initial funding of $10.5 million, while the remaining $89.5 million is pending regulatory approvals. All proceeds will be used solely to purchase Bitcoin, strengthening Matador’s position in the digital asset space.

The company plans to acquire up to 1,000 BTC by 2026 and grow its holdings to 6,000 BTC by 2027. Ultimately, Matador aims to hold 1% of Bitcoin’s total supply, placing it among the top 20 corporate holders worldwide. CEO Deven Soni said the funding aligns with the company’s long-term capital strategy and reduces immediate dilution, supporting its Bitcoin accumulation goals.

The secured notes carry an 8% annual interest rate and mature in approximately two years. Backed by Bitcoin collateral, they offer 1.5 times coverage for the first tranche. The conversion price for the initial closing is set at CAD$0.72.

Source

Why Bitcoin’s biggest mixer walked away from ‘huge profits’

This is a segment from the Supply Shock newsletter. To read full editions, subscribe.

A few years back at Bitcoin Amsterdam, I watched Core contributor Sjors Provoost make a point about the right to financial privacy in today’s digital world.

“I go to the bathroom at the train station right now. If I pay with my debit card, these records are kept for at least a decade. So the bank can actually look up, 10 years from now, exactly at what time I went to the bathroom. I think that is ridiculous, and I think everybody would agree that’s ridiculous.

“I think we should change the financial system to [stop doing] that.”

The panel featuring Provoost was about how the…

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ByteFederal Launches Crypto Real Estate Service In Florida, Partners With NEO And OPISAS

ByteFederal, a blockchain technology company, has launched a pilot program in Florida enabling real estate buyers to use bitcoin for property purchases, with settlements delivered in U.S. dollars to sellers. Announced on July 21, 2025, the service targets new construction properties and is facilitated through a strategic partnership with New Estate Only (NEO), a platform specializing in new real estate developments. Additionally, ByteFederal’s collaboration with OPISAS, an international real estate firm, allows foreign investors to purchase U.S. properties with cryptocurrency, expanding access to Florida’s housing market.

The Florida pilot enables buyers to pay security…

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