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BitMine makes smallest purchase of ethereum as asset rises in the new year

Last week, BitMine accrued 32,977 ethereum tokens, bringing its total to over 4.1 million, more than double the combined stockpile of the next 10 ethereum treasury companies.

Sage D. Young

BitMine Immersion Technologies, the leading ethereum treasury firm, has reprised its role as the largest buyer of ethereum, even if its most recent acquisition is a considerable slowdown from its pace last year.

On Monday, the firm announced that it acquired 32,977 ethereum tokens worth $105.3 million last week, its smallest weekly acquisition since the company started its treasury strategy. BitMine’s weekly purchase of ethereum last month averaged 96,007 tokens, ranging from as low as 44,463 tokens and as high as 138,452 tokens. 

Despite the slowdown, BitMine Immersion Technologies has staked 659,219 tokens worth $2.1 billion. BitMine Chairman Tom Lee said in a statement, “At scale (when Bitmine’s ETH is fully staked by MAVAN and its staking partners), the ETH staking fee is $374 million annual (using 2.81% CESR), or greater than $1 million per day.”

BitMine’s total treasury now stands at 4,143,502 ethereum tokens, which is 3.43% of the cryptocurrency’s total supply. That’s more than double the combined holdings of the next 10 biggest ethereum treasury firms, including SharpLink Gaming, Ether Machine, and Bit Digital.

The price of ethereum, like bitcoin, has been on the rise in 2026, increasing 8.8% in the past seven days. Its current range is still roughly a 35% drawdown from its all-time high of nearly $5,000 set last year. 

Meanwhile, digital asset manager Grayscale announced its ethereum staking ETF distributed staking rewards to shareholders for the first time, “a landmark moment,” Grayscale CEO Peter Mintzberg said in a Monday press release.

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Sage D. Young

Crypto industry lifts on news of Iran ceasefire

News of a ceasefire between the US and Iran has sent cryptocurrencies and digital asset equities rallying, with privacy-focused token Zcash jumping 27% in the last 24 hours and leading market gains.

The price swing, which helped boost the total crypto market capitalization by 4.8% in the period, has resulted in $474.7 million in short positions liquidated worldwide, data from CoinGlass shows.

Since the ceasefire was announced:

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$11.4B
Sage D. Young

The FBI revealed in a Monday press release that Americans submitted 181,565 complaints of schemes involving cryptocurrency and reported losses totaling around $11.4 billion last year, a 22% increase from 2024.

The age range most affected were people older than 60. Those in this category had the highest crypto complaint count at 44,555 with losses at $4.4 billion, per the annual report from the Internet Crime Complaint Center, a division of the FBI tasked with gathering intelligence on cybercrime.

One cybercrime the report pointed to was cryptocurrency investment fraud, which are sophisticated long-term scams using psychological manipulation, an appearance of legitimacy, and exploitation of cryptocurrencies to deceive victims into investing large sums of money. 

“These scams are largely perpetrated by organized criminal enterprises based in Southeast Asia using victims of human trafficking as forced labor to run the scam operations,” per the report. 

The FBI report comes as the crypto ecosystem is still reeling from a recent $270 million exploit that was planned six months in the making, a change from the initial estimate of multiple weeks.

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Sage D. Young

Aave sinks as another service provider leaves

The native token of the largest lending protocol in DeFi has shed roughly $163 million in market capitalization, dropping nearly 11% over the past 24 hours, after news that another service provider is leaving. 

Chaos Labs on Monday announced it was stepping down as a risk manager for the Aave DAO, citing concerns over V4 of the protocol and the recent exit of other core contributors. 

The risk management firm, which has been contributing to Aave since November 2022, decided to end its engagement with the protocol in part because of a “fundamental misalignment on how risk should be managed at Aave,” Chaos Labs CEO and founder Omer Goldberg said on X. 

The V4 protocol introduced a new smart contract code base. “When that architecture is rewritten from scratch, the risk infrastructure must follow. As a result, while the scope changed materially, the resourcing did not. Aave Labs may be comfortable with those trade-offs. We are not,” Goldberg stated.  

Chaos Labs’ termination comes after service providers Aave Chan Initiative and Bored Ghosts Developing Labs announced leaving due to centralization concerns with Aave Labs, which is headed by the protocol’s founder, Stani Kulechov. 

In response to Chaos Labs’ recent decision, Kulechov said, “There is no disruption to the Aave Protocol, its smart contracts, asset listings, or network deployments.” Kulechov added that Aave was not supportive of several elements of Chaos Labs’ initial proposal, such as a higher-risk management payment of $8 million. 

Aave has a total value locked of over $24 billion. V4 went live at the end of March and has seen around $10 million in deposits in the first week.

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