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Tom Lee's ETH portfolio falls $7.35B as Ether outlook turns bearish

Tom Lee’s BitMine Immersion has steadily expanded its Ethereum treasury even as the market’s mood darkens, with the firm now reporting about 5.28 million ETH in its holdings — roughly 4.37% of Ethereum’s total supply. The position comes amid a steep price drawdown for ETH, waning ETF interest, and a bearish technical setup that some traders say could pressure the position further into a potential $1,600 zone in coming months. BitMine’s strategy, announced earlier in 2025, continues to attract attention as one of the highest-profile corporate ETH treasuries in the market. Key takeaways: BitMine’s ETH treasury has grown to 5.28 million ETH, representing about 4.37% of Ethereum’s circulating supply, making it the largest publicly disclosed Ether treasury holder. The firm’s paper losses on its ETH holdings have widened as ETH has fallen more than 57% from its October 2025 peak, heightening scrutiny of the strategy’s risk profile. A bearish technical setup — specifically a rising wedge patt...
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Bitcoin Falls Despite Warsh's Pro-Crypto Fed Chair Appointment

Bitcoin (BTC) slipped to around $74,190 on Saturday, marking its lowest level in more than a month even as Kevin Warsh assumed the role of Federal Reserve chair a day earlier. The move comes as traders push probability of higher-for-longer monetary policy into 2026, with the 2-year U.S. Treasury yield climbing to 4.14% — its highest since February 2025 — and market pricing shifting away from imminent easing. The price action and rate outlook underscore a nuanced dynamic for crypto markets: a more restrictive macro backdrop can weigh on BTC even when its governance aligns with a pro-crypto leadership on the policy side. BTC/USD daily chart. Source: TradingView Key takeaways: Rising 2-year yields reinforce expectations for a higher-for-longer path in 2026, pressuring BTC despite a crypto-friendly Fed chair. Markets now price little near-term easing, with CME data showing a likely hold through most of 2026 and a possible 25 basis point hike in December. Bitcoin has historically underperfo...
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CFTC Suspends Officials Who Questioned Prediction Markets, NYT

A New York Times investigation published this week paints a portrait of regulatory pushback that collided with a rising crypto and prediction-market ecosystem at the U.S. Commodity Futures Trading Commission (CFTC). The piece details how senior officials who raised concerns about certain prediction-market operators—Polymarket, Crypto.com and a Gemini affiliate—were sidelined, investigated, and ultimately removed from the agency. The report raises questions about whether regulatory independence was compromised as political and industry interests intersected with enforcement decisions. According to the Times, concerns flagged by career staff included fair treatment of small bettors, insufficient fraud protections at Polymarket, and an incomplete regulatory review for a Gemini affiliate. Yet, the article contends that acting CFTC chair Caroline Pham and a senior counsel intervened to help these firms advance their objectives. By the end of 2025, two officials who had raised questions were...
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CFTC Officials Questioning Prediction Markets Suspended, NYT Reports

Senior officials at the Commodity Futures Trading Commission who flagged concerns about prediction market operators were ultimately suspended and subjected to internal investigations, according to a New York Times examination published over the weekend. The investigation centers on three firms—Polymarket, Crypto.com and a Gemini affiliate—each reportedly linked to the Trump family in ways that career staff believed warranted closer regulatory scrutiny. Internal sources cited by the Times said frontline staff worried Crypto.com did not treat small bettors fairly, Polymarket lacked adequate fraud protections, and Gemini’s affiliate had not completed the requisite regulatory review to operate in this space. According to The New York Times, acting CFTC chair Caroline Pham and her senior counsel intervened to facilitate the firms’ access to the markets they sought to operate. By the end of 2025, two staffers who had raised concerns were placed on administrative leave and placed under intern...
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Researcher Defends Ethereum Foundation, Says It's Doing Its Job

A prominent blockchain researcher is pushing back against critics who say the Ethereum Foundation is dragging down ETH’s fundamentals. William Mougayar—Toronto-based investor, researcher, and author—argued in a post that the Ethereum Foundation (EF) is performing exactly the role it was designed for: a protocol steward that should diminish its own centrality over time, rather than act as a marketing engine for ETH or the ecosystem. In a message posted on X titled “Leave the Foundation Alone,” Mougayar contends that ETH, Ethereum, and the Ethereum Foundation are three distinct entities with separate trajectories. He described the asset as money, the infrastructure as shared compute, and the Foundation as a non-profit steering the protocol toward irrelevance for its founders—an arrangement he says is essential for long-term decentralization. He warned that conflating the three leads to misguided forecasts and misplaced anger. The exchange comes amid renewed chatter within the crypto comm...
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Researcher Defends Ethereum Foundation as It Fulfills Its Mandate

A notable blockchain researcher has pushed back on recent criticisms of the Ethereum Foundation, arguing the organization is performing exactly what it was designed to do. In a post on X titled “Leave the Foundation Alone,” William Mougayar—a Toronto-based investor, researcher and best-selling author—contends that ETH, Ethereum and the Ethereum Foundation occupy distinct roles, each following its own trajectory. Mougayar frames the asset as money, Ethereum as the underlying infrastructure, and the Foundation as a non-profit steward aiming to guide the protocol toward a future where it becomes less central to the ecosystem. He warns that conflating these roles leads to inaccurate predictions and misplaced anger about ETH’s direction. Key takeaways The Ethereum Foundation’s mandate, according to Mougayar, is protocol stewardship and research funding, not marketing or price support for ETH. Critics’ demand for the Foundation to promote ETH or court institutions is likened to asking th...
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StablR exploit drives euro- and USD-stablecoins off peg ($2.8M)

A live exploit targeting StablR’s issuer has driven its Euro and USD-pegged stablecoins away from parity, with roughly $2.8 million extracted so far, according to blockchain security firm Blockaid. Blockaid said the incident appears to stem from a compromised private key within a 1-of-3 minting multisignature account. The attacker added themselves, replaced the other owners, and minted 8.35 million USDR and 4.5 million EURR, triggering the depeg. “This is not a smart contract bug — it’s a key management and governance failure,” Blockaid said. The attacker swapped the minted tokens for around 1,115 ETH (about $2.8 million) on decentralized exchanges, a move constrained by thin liquidity in the market for these assets. Blockaid’s assessment underscores a governance weakness rather than a flaw in the token contracts themselves. May has seen a string of crypto and DeFi exploits, with DeFiLlama tallying more than a dozen major incidents this month. Notable cases include THORChain, Verus Bri...
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