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Politicians have long slammed the amount of money Bitcoin miners use. Lawmakers now want to tax them for it.

Though the U.S. Commodity Futures Trading Commission's Acting Chairman Caroline Pham has been blazing forward on crypto-friendly policy, even as she has one foot out the door, the White House is working quickly to find a permanent successor after abandoning President Donald Trump's first choice. Trump nominee Brian Quintenz, a former commissioner, was dropped recently, and the administration has since been "hard at work" on announcing a new choice, said former CFTC Chairman Chris Giancarlo, who added that he was at the White House on Wednesday. "The White House felt that they had things in hand; it didn't work out," Giancarlo said in an interview on CoinDesk TV. "I'm very optimistic that soon we will have nominees that everyone will say, 'Wow, great choices.'" Giancarlo — a longtime crypto advocate sometimes known in the industry as "Crypto Dad," a name he used as the title of a book he wrote on the digital assets movement — said the White House is vetting CFTC candidates beyond the chairmanship. Without a slate of commissioners, whoever takes over from Pham would be alone at the commission, which is meant to have five members by law. Policies instituted by a single-member commission could be vulnerable to legal challenges. "They're very aware of this," Giancarlo said. "They know what they've got to do." A top contender for the chairmanship is Mike Selig, who has been working as a senior official on crypto policies at the Securities and Exchange Commission, according to people familiar with the vetting. Any nominees still need confirmation from the U.S. Senate before they can take the jobs — a process that stalled mid-stream with Quintenz after he was openly opposed by Gemini CEO Tyler Winklevoss. The CFTC is likely to be a leading regulator of U.S. crypto markets, especially if the Senate completes and passes market structure legislation that's already cleared the House of Representatives. That effort would give new powers to the smaller cousin of the SEC, granting it jurisdiction over the spot markets where crypto commodities such as bitcoin trade directly. Though the SEC has been moving quickly into a crypto-cheering posture under Trump, the CFTC had a deep history with the sector since its 2015 move to recognize bitcoin as a commodity. Earlier this week, Pham sought to assure financial-sector lawyers that the CFTC is moving forward fine under her temporary leadership, though she's also said she's hoping to leave the agency soon. Giancarlo said she is owed a "debt of gratitude" for what she's doing, much of which has been focused on a "crypto sprint" she's offered to match the SEC's Project Crypto agenda. While the shorthanded CFTC awaits new leadership, the Senate has been slowed by the federal government shutdown and is showing few signs of a near-term completion of the industry legislation. Representative Bryan Steil , the chairman of the crypto subcommittee within the House Financial Services Committee, said in a separate interview on CoinDesk TV that the current goal is "getting this completed as soon as possible, but no later than the end of the year." That's slipped considerably from Trump's initial deadline of August. The House had already passed its version this year — the Digital Asset Market Clarity Act — with an overwhelming bipartisan vote. Steil argued the Senate can save a lot of time by "using Clarity as baseline text" for its work, though Senate Republicans proposed their own draft language and that's the text lawmakers have been working from. Read More: U.S. SEC Takes Preliminary Step to Expand Universe of Crypto Custody to State Trusts

Bears face pressure as Bitcoin rockets 844% in liquidation imbalance

The price of Bitcoin (BTC) rose to a seven-week peak of $119,400 on October 2, as a wider crypto market revival added approximately $165 billion to the sector’s total value in a single day. This upward movement, which saw BTC break through key resistance levels, lines up with a technical analysis framework that places $130,000 as a realistic short-term target for the asset should current dynamics hold. Analyst Eyes Technical Setup as October Rally Strengthens After a period of consolidation below $110,000 in late September, Bitcoin began a steady climb, first reclaiming the $112,500 level and then pushing past a critical resistance zone near $116,500 on October 1. This breakout went up a notch during early Asian trading on October 2, taking BTC to its highest point since mid-August. The move caused about $475 million in short positions to be sold off, showing just how quickly market sentiment can change. Analysts are now looking at this price movement in light of a positive technical picture. According to market watcher Axel Adler Jr., Bitcoin’s current dynamics place it comfortably within the “STH-MVRV pricing corridor,” a metric that tracks the average profitability of short-term holders. In the past, the upper limit of this band, which is currently around $130,000, has acted as a zone where traders tend to take their profits more often. In Adler’s opinion, given how the BTC price has held firmly above its average realized level since the start of 2024, there’s every likelihood for sustained underlying demand, which would support the case for additional gains. “Bitcoin is currently in a state of equilibrium within the established volatility corridor,” the analyst wrote. “Short-term drops below the baseline are quickly bought up, and the market structure remains healthy. If current dynamics persist, a move toward $130K appears realistic.” Market Context and Historical Tailwinds The BTC rally has come against a backdrop of renewed risk appetite across financial markets and follows mixed U.S. labor data that has investors anticipating another potential interest rate cut. Data from CoinGecko shows that in the last 24 hours, the cryptocurrency gained 3.7% while trading between $114,442 and $119,400. Over seven days, it went up 6.2%, even though it is slightly trailing the broader crypto market, which jumped nearly 9% in the same period. Furthermore, BTC has added 7.7% to its value in the past month to keep it within striking distance of its all-time high above $124,000 set about two months ago. The final quarter of the year has in the past been a good period for Bitcoin, and October, in particular, has a strong track record, with data showing that the asset has closed this month in positive territory in 10 of the last 12 years. The community is closely watching to see if this seasonal trend continues, and if it can give BTC enough impetus to hit Adler’s target. The post Analyst: Bitcoin’s Healthy Volatility Band Points to Realistic $130K Target appeared first on CryptoPotato .

Hello everyone, my name is Sophia, and this is my true story. Lost Days I am a single mother. Three years ago, after my husband passed away in a car accident, I was left to raise my child alone. Back then, life felt like a bottomless black well. Every morning before sunrise, I rushed to work at the supermarket. Every night after my child fell asleep, I worked as a part-time cleaner. My hands were always rough and cracked, my back ached constantly. Even so, my monthly salary could barely cover rent and food. Late at night, I often sat staring at the pile of bills on the table. The fridge was empty, but the lamp on my child’s desk still shone as they did their homework. My heart ached. The hardest moment was when my child asked: “Mom, why can’t we join summer camp like my classmates?” I forced a smile and said, “Maybe next time,” while holding back my tears. At that time, I felt completely crushed by life. A Ray of Light Until one day, I came across people online discussing cloud mining . Some said you don’t need machines, you don’t need electricity bills — just a smartphone. At first, I scoffed. Bitcoin? Mining? That was something for the wealthy, not for a single mom like me. But that night, I kept thinking about a few words: “ Low barrier, simple, safe. ” A small corner of my heart lit up. What if this was real? What if I could also build a little savings of my own? The thought scared me — afraid of scams, afraid of disappointment. But it also gave me hope. I began researching, reading articles, scrolling through forums late into the night. That’s when I found NB HASH . What moved me most was that it wasn’t another “get-rich-quick” fantasy. It’s a UK-registered platform with clear compliance information. The interface was simple, even a beginner like me could understand. For the first time, I felt a sense of trust. Still, I hesitated. I remember that night, my finger hovered over the screen for a long time. Inside me, two voices argued: “Don’t be foolish, you have no way out.” “Try it, maybe this is your chance to change.” In the end, I chose to believe. My First Bitcoin I decided to give it a try. Not because I was brave, but because I had no other choice. When I bought my first contract on NB HASH, I was holding my breath. Recharge, select contract, confirm… it was all much simpler than I imagined. But inside, my heart was in turmoil — what if this was a mistake? 24 hours later, I opened my account and saw my first earnings. The amount wasn’t large, but my tears came instantly. Not because of the money, but because, for the first time, I saw hope. That moment, I felt a power I hadn’t felt in years: I could have a future. That was the beginning of my first Bitcoin. It wasn’t just numbers, it was a message telling me: “Sophia, your life can be different.” A Turning Point Life began to change little by little: I no longer worried about electricity bills each month. I could pay my child’s school fees on time. We moved out of the drafty rented room into a brighter, warmer home. One day, my child hugged me and said: “Mom, you smile like you used to.” In that moment, I knew all the struggle and risk had been worth it. What NB HASH Means to Me For me, NB HASH isn’t just a platform. It was a ray of light when I was in despair, a bridge that helped me out of hardship. It gave me the confidence to believe: Compliance → UK registration, no fear of scams. Security → Transparent mechanisms, peace of mind. Simplicity → Easy enough for even a non-technical mom. Convenience → All managed on a phone, anytime, anywhere. NB HASH didn’t give me the illusion of getting rich overnight. Instead, it gave me a step-by-step path to a real future. Closing As a single mother, I know what loneliness and pressure feel like. But I also know now: once you have even a little hope, life begins to change. My first Bitcoin brought me more than financial growth — it gave me confidence in the future. And NB HASH gave me, an ordinary woman, the chance to find my place in the blockchain era. Today, I still work hard, but I no longer fear the future. Because now, I know my child and I will have a better life. Learn more: https://nbhash.com

The U.S. Treasury and IRS clarified in interim guidance that CAMT does not apply to unrealized crypto gains. The clarification addresses concerns that taxing paper gains could compel corporations to liquidate crypto assets for tax payments. The U.S. Department of the Treasury and...

The Ethereum had the highest quarterly close in history and rose above the decade-long resistance near $3,600, which was a positive indication of potential impetus toward a gradual rise to $6,400. The number of transactions on the Ethereum network rose to 1.6 -1.7 million each da...

Bitcoin breaches $120,000, boosting bullish momentum significantly. Economic data supports potential interest rate cuts, encouraging market optimism. Continue Reading: Bitcoin Surges as Bullish Momentum Reigns in the Crypto Market The post Bitcoin Surges as Bullish Momentum Reigns in the Crypto Market appeared first on COINTURK NEWS .

CME Group prepares to offer 24/7 coverage for cryptocurrency options and futures, finally mimicking crypto native markets. The proposal will take force after regulatory approval. CME Group, the leading derivatives marketplace, plans to introduce cryptocurrency futures and options with 24/7 availability in early 2026. Starting early 2026, trade crypto on your schedule. 🚀 ➡️ https://t.co/x1FLEwVAnl pic.twitter.com/RmCGMLWh4h — CME Group (@CMEGroup) October 2, 2025 The markets will be available at the beginning of 2026, pending regulatory review. Currently, the market operates with a daily settlement, though allowing early trading at settlement prices. The new drive for round-the-clock trading follows increased demand for crypto services, and the advantage of crypto-native exchanges is undeniable. CME may now tap other regions, offering more active trading with expectations for an ongoing bull market in 2026. CME Group to offer 24/7 access through Globex Crypto markets are usually active based on regional hours, with a spike from the Asian and European markets, followed by US markets . ‘ While not all markets lend themselves to operating 24/7, client demand for around-the-clock cryptocurrency trading has grown as market participants need to manage their risk every day of the week, ’ said Tim McCourt, Global Head of Equities, FX and Alternative Products at CME Group. Cryptocurrency is the ideal market for 24/7 trading. CME Globex will offer the service, though with a two-hour weekly maintenance period over the weekend. Trades over holidays and weekends will have a trade day on the following business day. Unlike native markets, clearing, settlement, and reporting will be processed on the following business day. CME Group reaches peak crypto activity in 2025 Demand for crypto futures and options peaked on CME in 2025. As of September 18, the market noted peak notional open interest at $39B. August was a record month for CME, with 335,200 contracts, up 95% year-on-year. The exchange also drew in 1,010 holders of large-scale open interest across all crypto products for the week of September 25. CME is the venue for ETF holders to hedge their exposure to BTC and ETH. The overall increased demand for futures and options trading is still happening on crypto-native exchanges. The shift to 24/7 trading may also change the effect of CME pricing on the market. Since CME is closed, the price often posts a ‘gap’ from the ongoing crypto-native trading. Exchanges often look to the CME price gap as an indicator of future price moves. The coming months may be the last ones to post gaps. Currently, the market has set up a gap at $110,000 per BTC, potentially threatening the recent recovery to $119,000. Don’t just read crypto news. Understand it. Subscribe to our newsletter. It's free .