Craig Wright, the Australian computer scientist who claims to be the inventor of Bitcoin, has been ordered to pay £225,000 ($290,000) in legal costs after a judge found he had used artificial intelligence (AI) improperly in a failed appeal.

This is believed to be the first time someone has been penalized for using AI in UK civil courts.

Dr. Wright has always said he is Satoshi Nakamoto, the mysterious and pseudonymous creator of Bitcoin. But in May 2024 the High Court ruled that he had “lied extensively” to support his claim. Despite this, he tried to appeal but his case was dismissed in November 2024.

The Crypto Open Patent Alliance (COPA), a group of digital asset…

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BBVA has aligned with the Markets in Crypto-assets Regulation to offer a new crypto trading service through its app making it easier for customers in Spain to buy sell and manage Bitcoin and Ether. Starting with a select group of users the service will eventually be available to all private customers enhancing BBVA’s digital integration strategy.

The bank will leverage its own cryptographic key custody platform for enhanced security allowing customers to manage their cryptoassets alongside traditional banking operations without third-party reliance. This service will be available through customer initiative only ensuring a user-driven experience.

Gonzalo Rodríguez Head of Retail Banking in Spain emphasized the bank’s commitment to simplifying access to cryptoassets ensuring a secure and direct investment path from mobile devices. BBVA’s decade-long blockchain research supports this innovative service expansion in line with global security standards.

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El Salvador continues to expand its Bitcoin holdings despite significant international pressure notably from the International Monetary Fund (IMF). The country recently acquired an additional 5 BTC bringing its total reserves to 6,111.18 BTC valued at over $503 million. This move comes after an agreement with the IMF which included conditions to rescind Bitcoin as legal tender and reduce public sector involvement in the cryptocurrency.

Despite the IMF’s disapproval and recent legislative changes to comply with a $1.4 billion loan agreement El Salvador’s government has not ceased its Bitcoin acquisitions. Just this year the country added multiple Bitcoins to its treasury even after legislative adjustments in January that aimed to scale back its cryptocurrency engagements as per IMF’s conditions.

President Nayib Bukele remains firm on his pro-Bitcoin stance amidst ongoing pressure from the IMF. His administration’s unwavering support for Bitcoin has even influenced major crypto firms to consider relocating to El Salvador. This bold approach reflects a commitment to continue integrating Bitcoin into the country’s economic strategy regardless of external pressures.

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Bitcoin may soon eclipse traditional commodities to become the most lucrative asset for financial giants such as Goldman Sachs and JPMorgan Chase according to investor Tom Lee. Speaking on The Compound podcast Lee drew parallels between the proposed Strategic Bitcoin Reserve and the US petroleum reserve highlighting Bitcoin’s potential in the face of US plans to adopt it as a reserve asset.

Lee suggested that just as oil reserves help stabilize market volatility Bitcoin could serve a similar strategic purpose but with significantly higher profitability. He emphasized that if Bitcoin becomes a core part of financial dealings and asset security its market speculation could far exceed that of oil potentially making it 1000 times more tradable.

As Bitcoin gains traction the need for a regulatory framework becomes apparent. Lee hinted at the possibility of the US exerting control over Bitcoin’s blockchain to ensure security and transparency making it an indispensable asset for top banks and a cornerstone of modern financial strategies.

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The U.S. has unveiled plans to finance its new Strategic Bitcoin Reserve by offloading some of its gold holdings. Geoff Kendrick of Standard Chartered suggests this move as a budget-neutral way to bolster the nation’s cryptocurrency assets. According to Kendrick the government possesses gold worth approximately $760 billion which could be leveraged to acquire bitcoin.

President Donald Trump recently signed an executive order to establish the Strategic Bitcoin Reserve ensuring future acquisitions align with budget-neutral strategies. This directive comes ahead of Trump’s expected discussion at the upcoming White House Digital Assets Summit which aims to shape future crypto policy without imposing additional costs on taxpayers.

Further expanding on budget-neutral methods Kendrick mentioned using the Exchange Stabilization Fund and a proposed Bitcoin Act 2024 by Senator Cynthia Lummis as potential strategies. These plans underline a significant policy shift towards integrating digital assets into the national strategic reserves reflecting a robust commitment to supporting the cryptocurrency sector.