Plus: How Bitcoin Jesus dodged prison

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🍍 Market flavor today

Crypto Market Cap: $4.16T 0.18% (24H)
Name		Price	24H	7D
	Bitcoin BTC	$121,650.07	-0.11%	0.53%
	Ethereum ETH	$4,340.45	-0.42%	-3.29%
	BNB BNB	$1,254.95	0.87%	9.87%
	XRP XRP	$2.83	0.06%	-7.21%
	Solana SOL	$223.42	0.72%	-3.21%

Bitcoin went on a wild run - thanks mostly to those monster ETF inflows we talked about yesterday - and now it's taking a breather.

Duh, everyone's gotta rest and hydrate after a good sprint.

So… why the pause? A few things are at play 👇

1/ ETF inflows cooled off

👉 After getting $400M+ in inflows per day since last Monday, Bitcoin ETFs only saw $197.8M in inflows yesterday. Still solid, just not crazy levels.

👉 Ethereum ETFs had $60M+ coming in daily - until yesterday, when they actually had $8.7M in outflows.

2/ The Fed's doing the "don't get too excited" thing

Fed Governor Michael Barr said inflation's still sticky, which is basically a polite way of saying, "Rate cuts this month? Wouldn't be too sure."

That kind of talk makes the dollar stronger and risk assets (hi, crypto) a little more hesitant.

3/ Good ole profit-taking

After a big rally, traders love to hit that sell button to lock in some gains. Nothing unusual.

All-considered-in-conclusion-to-summarize, ETFs gave Bitcoin a rally, and now the market’s catching its breath.

Don't worry tho', the sentiment's still greedy and the excitement's still there - it's just pacing itself.

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🔎 Roger Ver's case

If you've ever ignored a parking ticket, thinking it would just go away, you'll get the vibe of what we're gonna talk about.

Except, in this case, the ticket is a multimillion-dollar tax bill from the US government - and instead of a reminder in the mail, you're facing federal charges.

Here's the story of Roger Ver.

For those of you who don't know, Roger Ver is a well-known early Bitcoin investor and entrepreneur.

He was one of the first people to promote Bitcoin as a way to create a freer, decentralized economy - that's why he got the nickname Bitcoin Jesus.

And he made an absolute fortune doing it.

Then, around 2014, he decided to renounce his US citizenship and move abroad. Freedom from the US government, right?

Well... 😬

When you give up your citizenship, the IRS still wants one last look at your finances - you're still required to declare your assets and pay taxes on anything you owned before you left.

According to the US Department of Justice, Ver didn't really do that.

They say he hid how much Bitcoin he really had and underreported profits when he sold some of it. We're talking tens of millions in unpaid taxes.

So in April 2024, they indicted him for tax fraud and related charges.

Fast forward to now, though, about a year and a half later, Ver's reportedly on the verge of a deal - a $48M settlement.

It's not official yet, but if the court signs off, he pays the fine, the case gets dropped, and he avoids prison.

Aaand... scene.

Now, why does everyone in crypto seem to care about this story? Honestly, it's a bit symbolic.

Crypto's whole philosophy is built on sovereignty - the idea that you control your money, your data, your life, without needing banks or governments. Roger's tax case is a real-world test of how far that idea can go before it collides with national laws.

And as crypto goes mainstream, regulators are naturally getting more involved.

So, this whole thing is like watching the rebellious culture get absorbed into the system it rebelled against.

Some see tragedy. Others see progress - proof that crypto is maturing.

Whatever you see, stuff like this is inevitable. We'll just have to get used to it.

🍋 News drops you can't miss

💰 Not all money transfer apps are created equal. We picked out the ones that actually make moving money painless.

🪙 A new stablecoin called JupUSD is coming to the Solana blockchain through a collab between Jupiter and Ethena Labs. It's expected to launch in the second half of December 2025 and will be used throughout the Jupiter platform once it's out.

💷 The UK's financial regulator has finally ditched its ban on crypto ETNs. Investors can now buy them on exchanges the FCA signs off on.

💼 Bitwise added staking and a 0.20% annual fee its Solana ETF filing with the SEC. The fee falls right in the middle of the usual 0.15% - 0.25% range for crypto ETFs.

🔐 Ethereum's dev community revealed a new roadmap, Kohaku, focused on making wallets more private and secure. It comes with a toolkit for devs and a demo wallet that shows how the new privacy features actually work.

🍌 Juicy memes