Tag: bitcoin-focused

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Senator Lummis to retire from Senate in 2027, focuses on crypto legislation as final legacy

The post Senator Lummis to retire from Senate in 2027, focuses on crypto legislation as final legacy appeared com. Key Takeaways Senator Cynthia Lummis will not be seeking re-election next year; she will retire when her term ends in 2027. Her final focus in Congress is advancing crypto market structure legislation. Senator Cynthia Lummis, who made history as the first chair of the Senate Banking Subcommittee on Digital Assets, said she will retire from public service at the end of her term on January 3, 2027, making crypto market structure legislation her final legacy in Congress. Lummis announced her decision Friday and explained that it was driven by exhaustion, saying she did not feel she had the stamina for another six-year term. “It’s an incredible honor to represent Wyoming in the U. S. Senate, and throughout my time here, Wyoming has been my one-and-only priority,” Lummis said in a message. “Deciding not to run for reelection does represent a change of heart for me, but in the difficult, exhausting session weeks this fall I’ve come to accept that I do not have six more years in me. I am a devout legislator, but I feel like a sprinter in a marathon. The energy required doesn’t match up,” she added. The decision marks the end of a short but meaningful chapter in public service. Lummis has left a lasting imprint through her advocacy for Bitcoin and her push to make the US a global hub for crypto innovation. During her tenure, the Wyoming senator has introduced several Bitcoin-focused proposals, including the Bitcoin ACT, which mandates the US government to acquire up to 1 million Bitcoin over five years to create a federal strategic Bitcoin reserve. She has also backed legislation to exempt crypto transactions under $300 from capital gains taxes, aiming to simplify digital asset taxation. Source:.

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Businesseconomyfinance

Crypto Treasuries Halt Bitcoin Buys After Market Drop

The post Crypto Treasuries Halt Bitcocom. Crypto treasury companies are taking a step back after the recent market downturn earlier this month. These firms, which hold large amounts of Bitcoin and Ethereum on their balance sheets have nearly stopped buying since prices tumbled on October 10. The slowdown shows an ongoing sense of caution across the sector. Coinbase’s Head of Institutional Research, David Duong, noted that Bitcoin buying activity among treasury companies dropped to the lowest level this year and has yet to rebound. Bitcoin Buying Halts as Confidence Weakens The pause in Bitcoin purchases by crypto treasury companies is a clear sign that large firms are uncertain about market direction. These organisations typically act as strong buyers when prices dip and help to stabilise volatility. Their silence now indicates that they have limited faith in any near-term recovery. Duong described these companies as “heavy hitters with deep pockets.” He explained that their lack of activity shows caution, even at current support levels. Because of this, many of these companies have chosen to guard their cash reserves. There is one exception, though, and this is BitMine Immersion Technologies. The Ethereum-focused company has continued its aggressive buying spree. Since October 10, BitMine has reportedly spent over $1. 9 billion to acquire nearly 483, 000 ETH. Ethereum followed Bitcoin’s drop earlier in October, falling more than 15% to around $3,686 before climbing back to $4,130. Without BitMine’s steady buying, Ethereum demand among treasury companies would have turned negative. Market Fragility Amid Fading Institutional Support Duong warned that if BitMine slows its activity, overall corporate buying could collapse. He noted that the market looks fragile when the biggest discretionary balance sheets are inactive. The absence of.

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