Coindesk

Warren Buffett, the billionaire investor who helped shape Berkshire Hathaway into a global investment powerhouse, is stepping down as CEO at year-end — but his distaste for bitcoin (BTC) will likely live on at the firm.Buffett, who will remain chairman of the board, has famously described bitcoin as “rat poison squared” and a “gambling token,” signaling a strong ideological opposition to digital assets. His legacy on this issue casts a long shadow over his successor, Greg Abel, who now takes the reins of day-to-day leadership.For investors hoping for a shift in Berkshire’s crypto stance, the odds look slim.“I would be very surprised if there’s a meaningful change in Berkshire’s attitude toward Bitcoin,” said Meyer Shields, managing director at KBW. “On...

Lawyers for Samourai Wallet have accused the prosecution of suppressing critical evidence in its case against the mixing service’s co-founders, calling for a hearing to determine whether the case should now be tossed out in light of the alleged Brady violation.In a Monday court filing, lawyers for Samourai Wallet told Judge Richard Berman of the Southern District of New York (SDNY) that in August 2023 — six months before prosecutors charged Keonne Rodriguez and William Lonergan Hill with one count each of conspiracy to commit money laundering and conspiracy to operate an unlicensed money transmitting business — the Financial Crimes Enforcement Network (FinCEN) told prosecutors that, under their guidelines, Samourai Wallet didn’t qualify as a money transmitting business and did not need...

MSTR earnings came out May 1. My morning media stops last Thursday (here and here) asked for a preview. We don't talk about stocks, so I planned to zoom out and hit themes. While preparing, I had to suppress the eye-roll reflexes that MSTR triggers.MSTR, of course, is the ticker symbol for MicroStrategy, or Strategy, as the company is now known. Strategy, fronted by Michael Saylor, pioneered the “bitcoin treasury” model that’s now been copied by Metaplanet and dozens of other companies. Strategy plans to raise $84 billion, according to its most recent announcement, across equity and fixed income instruments. Here are three questions:1. Earnings? MSTR "earnings" and "price targets" are... Well, they don't really mean the same thing, especially...

Crypto's big show in the U.S. Congress has been unveiled in the form of a discussion draft of legislation that would establish for the first time a comprehensive domestic regime for regulating digital assets.The House Financial Services Committee and House Agriculture Committee — both sharing responsibility for the jurisdiction-hoping assets — released a working draft of a bill that Representative French Hill, chairman of the financial-services panel, said can deliver "much-needed regulatory clarity.""Today marks the first step in advancing a comprehensive framework that protects consumers, fosters innovation, and closes regulatory gaps in oversight," said Representative Glenn "GT" Thompson, chairman on the agricultural committee, which has oversight of the Commodity Futures Trading Commission that will likely have a major role in...

Corporate treasury buying of bitcoin (BTC) could reach $330 billion by the end of 2029, broker Bernstein said in a research report Monday.Strategy (MSTR) is likely to be the largest buyer, with an additional $124 billion of the world's largest crypto, in the broker's bull case. The company led by Michael Saylor announced a further $21 billion at-the-market common stock offering last week to buy more bitcoin."The U.S. pro crypto regulatory regime have further accelerated the corporate ownership growth of bitcoin," analysts led by Gautam Chhugani wrote.Bernstein expects other listed companies to allocate around $205 billion to bitcoin acquisition strategies, led by smaller firms with lower growth looking to emulate Strategy's treasury model.Public companies now own ~2.4% of the bitcoin...