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BlackRock Increases Bitmine Stake to Over 9 Million Shares: What’s Next?

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If you think the institutional appetite for crypto ended with the ETF approvals, look again. In a move that signals massive long-term conviction, the world’s biggest asset manager, BlackRock, has reportedly increased its stake in Bitmine to over 9 million shares, according to a recent 13H-FR filing surfaced on X.

While retail traders are distracted by red candles, the world’s largest asset manager is actively seizing more infrastructure.

This isn’t just a passive buy; it’s a statement. When Larry Fink’s firm moves millions of shares in a crypto-native company, it changes the liquidity map for everyone involved.

Context: The Wall Street Pivot Continues

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This accumulation comes hot on the heels of BlackRock’s dominance in the spot ETF market.

Their iShares Bitcoin (BTC) Trust has already shattered growth records, surpassing $70 billion in assets faster than any ETF in history.

Now, by significantly increasing exposure to Bitmine, the world’s biggest asset manager is doubling down on the operational side of the blockchain ecosystem.

While headlines often focus on spot price, smart money follows the institutional hedging and whale positioning deeper in the stack.

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BlackRock holding over 9 million shares suggests it sees mining and infrastructure not as a risky bet, but as a critical asset class worthy of its balance sheet.

Discover: The best new crypto on the market

BlackRock and Bitmine: Strategic Accumulation or Just a Hedge?

Why buy the miners when you already own the coin? This is the question savvy traders need to answer.

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Owning equity in operations like Bitmine offers BlackRock a strategic leveraging of Bitcoin’s success without the custody fees associated with direct coin holding.

This stake increase indicates that BlackRock believes the sector is currently undervalued relative to its future cash flow potential.

Furthermore, this aligns with a broader trend of incumbents staking claims in the digital asset space. We are seeing similar aggressive moves elsewhere, such as Goldman Sachs revealing significant crypto holdings.

Wall Street is no longer dipping a toe in; they are buying the swimming pool.

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What Traders Should Watch Next

If you are holding crypto-linked equities or spot BTC, this is a bullish signal for the medium term. Institutional accumulation usually precedes a supply squeeze.

Watch for two things in the coming weeks:

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  • Sector Correlation: Does Bitmine’s stock price begin to decouple from daily BTC movements due to this institutional support?
  • Global Sentiment: This Western accumulation parallels bullish crypto sentiment emerging in Hong Kong, suggesting a coordinated global bid for crypto assets is forming.

Ignore the minute-by-minute candles and watch the whales. When BlackRock buys 9 million shares, they aren’t planning to sell next week.

Discover: The ultimate crypto for portfolio diversification

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Praetorian Group Scandal Echoes FTX Collapse

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Praetorian Group Scandal Echoes FTX Collapse

The US DOJ (Department of Justice) has secured a 20-year prison sentence against the founder of a sprawling crypto investment scheme.

According to prosecutors, this scheme had defrauded more than 90,000 investors worldwide of over $200 million.

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DOJ Exposes and Dismantles $200 Million Bitcoin Ponzi as Founder Receives 20-Year Prison Term

In a statement released on Thursday, the DOJ confirmed that Ramil Ventura Palafox, 61, was sentenced after pleading guilty to wire fraud and money laundering charges.

Palafox was the founder, chairman, and CEO of Praetorian Group International (PGI), a multi-level marketing company that claimed to generate outsized returns through Bitcoin trading and crypto-related strategies.

According to court documents, PGI operated from December 2019 to October 2021, raising more than $201 million from investors worldwide. The company promised daily returns of 0.5% to 3%, marketed as profits from sophisticated Bitcoin arbitrage and trading activities.

In reality, investigators found PGI was not conducting trading at the scale required to generate such returns. Instead, it functioned as a classic Ponzi scheme, using funds from new investors to pay earlier participants.

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Authorities said at least $30.2 million was invested in fiat currency, alongside 8,198 Bitcoin valued at approximately $171.5 million at the time of investment.

Confirmed losses reached at least $62.7 million, though prosecutors indicated the total financial harm could be significantly higher.

Lavish Lifestyle and Fabricated Profits: How Palafox Hid the Collapse Behind a Luxury Facade

To maintain the illusion of profitability, Palafox allegedly created and controlled an online investor portal that displayed fabricated account balances.

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Between 2020 and 2021, the platform consistently misrepresented investment performance. It falsely showed steady gains and reinforced investor confidence even as the scheme unraveled behind the scenes.

Court filings detail how Palafox diverted substantial amounts of investor funds to finance a lavish personal lifestyle.

According to prosecutors, he spent roughly $3 million on 20 luxury vehicles. He also spent approximately $329,000 on penthouse accommodations at a luxury hotel chain and purchased four residential properties in Las Vegas and Los Angeles worth more than $6 million.

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Additional expenditures included around $3 million on designer clothing, jewelry, watches, and home furnishings from high-end retailers.

Prosecutors further alleged that Palafox transferred at least $800,000 in fiat currency and 100 Bitcoin—then valued at approximately $3.3 million—to a family member.

The scheme began to collapse in mid-2021 after PGI’s website went offline and withdrawal requests mounted. Although Palafox resigned as CEO in September 2021, authorities said he initially retained control over company accounts.

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Prosecutors described this case as one of the more significant crypto-related Ponzi schemes in recent years. The sentencing marks a decisive conclusion to a scheme that thrived on exaggerated crypto profits and global recruitment networks.

Parallels with FTX: How PGI Echoed a Larger Crypto Collapse

Despite differences in scale and sophistication, this case is similar in many ways to the FTX collapse and associated contagion. Both exploited the crypto boom, promising investors outsized, unrealistic returns:

  • Palafox with daily Bitcoin gains of 0.5–3%,
  • FTX through high-yield exchange products tied to Alameda Research.

Investor funds were misappropriated for lavish personal spending:

  • Palafox on luxury cars, real estate, and designer goods
  • SBF on Alameda’s risky bets, properties, and political donations.

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Both schemes used deceptive methods to maintain investor confidence:

  • PGI with a fake portal showing steady gains
  • FTX with hidden liabilities and inflated valuations.

PGI defrauded over 90,000 investors with confirmed losses exceeding $62.7 million, while FTX affected millions and billions in missing funds.

Federal prosecutions followed, with Palafox sentenced to 20 years in February 2026 and SBF to 25 years in 2024.

All these highlight a trend among bad actors in crypto while also revealing the DOJ’s ongoing crackdown on crypto-related fraud.

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Solana price breaks bearish structure, $95 target in focus

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Solana price breaks local bearish structure as $95 target comes into focus - 1

Solana price has broken its short-term bearish structure, signaling a potential momentum shift that could open the door for a bullish expansion toward the $95 resistance zone.

Summary

  • Local bearish trend invalidated, signaling a shift in short-term momentum
  • Holding above the value area low supports higher-low formation
  • $95 high-timeframe resistance is the next target, if bullish structure persists

Solana (SOL) price action is showing a notable improvement in structure after breaking out of a local bearish downtrend that had controlled price movement for much of the week. This shift marks an important technical development, as Solana has now printed a new high, signalling a potential transition away from short-term bearish control.

While broader market conditions remain mixed, the change in local structure suggests that downside momentum is weakening. If Solana can continue to build acceptance above key value levels, the probability of a sustained move toward higher resistance increases.

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Solana price key technical points

  • Local bearish market structure has been broken, confirming a higher high
  • Value area low remains intact, supporting higher-low formation
  • $95 high-timeframe resistance is the next upside target, if momentum persists
Solana price breaks local bearish structure as $95 target comes into focus - 1
SOLUSDT (4H) Chart, Source: TradingView

The recent price action on Solana has produced a clear break in market structure on the lower timeframes. After a prolonged period of lower highs and lower lows, Solana has now pushed above prior resistance and established a new swing high. This move invalidates the immediate bearish trend and shifts short-term momentum back in favor of buyers.

Market structure breaks are often early signals of trend transitions, particularly when they follow extended consolidations or corrective phases. In Solana’s case, the breakout suggests that sellers are losing control, at least in the short term, and that buyers are becoming more aggressive at current levels.

Holding value area low is critical

Despite the bullish development, confirmation will depend on Solana holding above the value area low. This level represents the lower boundary of fair value within the current range and often serves as a key decision point for whether to continue or fail.

As long as price action remains above this level, Solana has the opportunity to establish a higher low. A higher low would further reinforce the bullish shift in structure and increase confidence that the breakout is sustainable rather than a short-lived reaction.

Failure to hold this level, however, would return Solana to balance and reopen the risk of renewed consolidation or downside rotation.

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Higher highs and higher lows shift bias

If Solana continues to print higher highs while defending higher lows, the broader narrative within the current trading range will begin to shift. Multiple higher highs and higher lows would negate the prior bearish bias and suggest that the market is transitioning into a more constructive phase.

Such transitions often occur in stages, with initial breakouts followed by retests and consolidations before larger expansions take place. This underscores the importance of patience, as short-term pullbacks remain healthy within a developing bullish structure.

$95 resistance comes into focus

With the local bearish structure broken, attention now turns to the next major upside level. The $95 region represents a significant high-timeframe resistance area where price previously faced rejection. A move toward this level would align with typical follow-through behavior after a successful structure break.

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Reaching $95 would also place Solana back into the upper portion of its broader trading range. How price behaves around this level will be critical in determining whether the rally extends further or transitions into another consolidation phase.

What to expect in the coming price action

From a technical, price action, and market structure perspective, Solana is showing early signs of a bullish continuation. As long as price holds above the value area low and maintains the newly established higher high, the probability favors further upside exploration.

In the near term, traders should expect some volatility as the market digests the structure break. Controlled pullbacks that hold above support would strengthen the bullish case, while a loss of value could delay continuation.

For now, the evidence suggests that Solana’s recent breakout is meaningful. If momentum continues to build, the $95 resistance level stands out as the next key upside target in the current market phase.

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Banks Should Embrace Stablecoin Yield in CLARITY Act: White House Adviser

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Banks, US Government, Stablecoin

Crypto companies and platforms that provide stablecoin rewards have become a major point of contention in the CLARITY crypto market structure bill.

The banking industry should not be threatened by crypto companies offering stablecoin yield to customers, and both sides must compromise on the issue, according to White House crypto adviser Patrick Witt.

Witt said it was “unfortunate” that the issue of stablecoin yield has become a major point of contention between the crypto industry and banks, adding that crypto service providers sharing yield with customers does not threaten the banking industry’s business model or market share. He told Yahoo Finance:

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“They can also offer stablecoin products to their customers, just the same as crypto. This is not an unfair advantage in either way, and many banks are now applying for OCC bank charters themselves to start offering bank-like products to their customers.

Banks, US Government, Stablecoin
White House crypto adviser Patrick Witt provides an update on the CLARITY bill negotiations. Source: Yahoo Finance

In the future, I don’t think this is going to be an issue,” he continued, adding, “I think they’re going to find opportunities to use these products and leverage them and offer new products to their customers and expand their businesses.”

The ability of crypto service providers and platforms to offer rewards to customers who hold stablecoins has emerged as one of the most significant pain points for the industry, contributing to delays in passing the CLARITY market structure bill.

Related: White House crypto bill talks ‘productive,’ but no deal yet

Time is running out on passing the CLARITY Act, Witt and others warn

The proposed CLARITY Act establishes clear regulatory jurisdiction over crypto markets between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), and also creates an asset taxonomy for cryptocurrencies.

However, government officials and industry executives have warned that the looming 2026 US midterm elections could derail efforts to pass it into law and threaten to roll back crypto regulations established by the administration of US President Donald Trump.

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