Today we're learning the story of a Bitcoin block that was mined just a couple days ago by a solo miner, surprising the crypto community by successfully mining block #887,212 with just a 480 GH/s Bitaxe rig.

For some perspective, these mini-miners earn about $3 per year - yes you're reading that correctly, per year - that is, unless it happens to be the one to mine a new block.  Running a small rig like this is often compared to buying a lotto ticket, except you only need to pay once and get to play every day.

The Odds...

This miner was using solo.ckpool, a popular choice among individual miners looking to strike digital gold without joining massive pools.

Pool developer Con Kolivas emphasized how remarkable this feat was, estimating that similar rigs have less than a one-in-a-million daily chance of solving a block. Statistically speaking, the average wait time for success with a rig this size is roughly 3,500 years.

To put this into perspective, industrial-scale Bitcoin miners commonly run setups about 2000% more powerful, so beating them with a rig this size is extremely rare.

Tiny Rig, Huge Payoff

This miner earned a reward of about $260,000 at the time, or 3.15 BTC plus an extra 0.025 BTC from transaction fees, according to mempool.space.

Adding to the surprise, the Bitaxe rig used in this incredible win was ultra-affordable, selling for around $90 on Ebay.

Solo Mining Faces Giants

Today, Bitcoin mining is dominated by major players like Foundry USA, whose massive hashrate primarily comes from publicly traded giants such as Cipher Mining, Bitfarms, and Hut 8. MARA Holdings, another heavy hitter, even operates its own dedicated MARA Pool.

Unlike commercial mining hardware that's typically proprietary, Bitaxe offers open-source solutions. Enthusiasts like Skot claim that open-source mining better reflects Bitcoin's core decentralized spirit—making this rare win even sweeter for Bitcoin purists.

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Author: Mark Pippen
London Newsroom
GlobalCryptoPress | Breaking Crypto News

The race to integrate Bitcoin into state treasuries is heating up. So far, 20 U.S. states have introduced bills aiming to accumulate BTC as a financial asset—but Utah is pulling ahead with real legislative momentum.

A new bill, HB 230, just cleared a major hurdle. The “Digital Innovation and Blockchain Amendments” bill, which could allow the state treasurer to allocate public funds into Bitcoin, has now been formally introduced to the Utah Senate’s Revenue and Taxation Committee.

Back in January, the bill passed Utah’s House of Representatives with an 8-1 vote, and on February 7, it advanced to the Senate for its first reading. If enacted, up to 5% of Utah’s state funds could be invested in “qualified digital assets”—a category that, under the bill’s criteria, currently includes only one cryptocurrency: Bitcoin.

Utah's HB 230 isn’t just about buying Bitcoin...

It also lays the groundwork for regulatory oversight, custody protocols, and even permits the treasurer to engage in staking and lending of crypto assets under certain conditions. Additionally, the bill introduces new rules around stablecoin investments, reflecting the broader push to formalize crypto within government finance. The proposal is spearheaded by Utah Rep. Jordan Teuscher.

If it keeps gaining traction, the bill could take effect on May 7, 2025. And according to Dennis Porter, CEO of Satoshi Action Fund, Utah is positioned to be the first U.S. state with an official Bitcoin treasury, thanks to its tight 45-day legislative session.

This state-level push follows Donald Trump has floating the idea of a Federal Bitcoin Reserve - his 'crypto task force' is already exploring ways to make it happen. In an interview with Bloomberg President Trump says he believes that if the U.S. doesn’t move fast, rival nations will.

As Utah moves forward, all eyes are on whether this bill will set a precedent for other states looking to put Bitcoin on their balance sheets.

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Author: Ross Davis
Silicon Valley Newsroom
GCP | Breaking Crypto News

In a move that would've seemed wild just a few years ago, over a dozen states are seriously considering holding Bitcoin reserves as part of their fiscal strategy.

It began when Trump, not yet elected and on the campaign trail, mentioned the idea as part of his plan to make the US the 'crypto capital of the world'.  Since taking office, one of the executive orders he signed on the first day created the committee to propose new regulations, and to look into the creation of a national cryptocurrency stockpile.

Looking to capitalize on the creation of a Federal Bitcoin Reserve, 15 states have either passed or introduced state-wide Bitcoin reserve bills, including Alabama, Arizona, Florida, Kentucky, Massachusetts, Montana, New Hampshire, North Dakota, Ohio, Oklahoma, Pennsylvania, South Dakota, Texas, Utah, and Wyoming. Pennsylvania was the first to propose it, in a bill in November of last year. 

What Exactly is a Bitcoin reserve?

A Bitcoin reserve is basically a stash of Bitcoin owned and managed by a government, much like how many countries hold gold, silver, gems, or oil reserves.

The reasoning behind it - the most basic fundamental of investing; diversifying your investments. Like gold, Bitcoin has shown itself to be a hedge against inflation. When the dollar loses value, people look for alternative ways to store their wealth, ideally somewhere it isn't losing value.  In every major economic downturn, you'll see the charts for gold on the rise, and more recently, Bitcoin.  Earning the nickname 'digital gold' for this reason. 

How Exactly Would the State or Federal Government Acquire Bitcoin?

So far, proposals have included selling a portion of existing reserves, and using that to purchase Bitcoin. Other proposals involve changes to the State's annual budgets where they would reallocate funds, for example, lawmakers in Oklahoma, New Hampshire, and Pennsylvania have proposed that up to 10% of public funds on a temporary basis until a set goal is reached. 

Other states believe their residents who are crypto fans would be willing to donate some of theirs, just to show their support for the concept. 

Lastly, Texas has floated the idea of allowing residents to pay taxes and fees in Bitcoin, and these  payments would go directly into a state reserve, where it couldn't be touched for 5 years. 

How Would this Effect the Market Overall?  

All analysis seems to conclude that this would trigger a significant spike, with a combo of factors working together in a way that could only send the price up.  There is a record number of wallets owned by investors who buy Bitcoin and hold it, leaving it untouched no matter what the market is doing. Then there's the growing number of companies with Bitcoin on their balance sheet.

This means governments, companies, and individuals would be holding Bitcoin for the long haul, with no intent to sell anytime soon. Now factor in that there is only 20 million Bitcoins in circulation, and an estimated 6 million of those sit in wallets where the owner lost the key to access them (many from the early days when Bitcoin was worth a few cents, people didn't carefully backup the key to wallets holding thousands of Bitcoin)

Now imagine with this: Those who hold Bitcoin aren't looking to sell,  limited supply of Bitcoin available, dozens of countries follow the US's lead and begin creating Bitcoin reserves of their own. If those holding Bitcoin aren't willing to sell, there's only one option left - change their mind by offering more. Some are citing this as the path to a $1M Bitcoin price, and while I think that number may be unrealistically high, I do agree it's the path to set new record highs. 

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Author: Oliver Redding
Seattle Newsdesk  / Breaking Crypto News

The New York Stock Exchange (NYSE) just applied to the U.S. Securities and Exchange Commission (SEC) to list and trade the Grayscale XRP Trust as an exchange-traded fund (ETF). If approved, it would transform the existing trust into an ETF, opening the door for more investors—from curious retail traders to heavyweight institutions—to get in on the action.

This move could mark a pivotal moment for XRP, the cryptocurrency from Ripple Labs that’s been a hot topic for its ongoing legal showdown with the SEC. Approval would likely boost XRP’s reputation and adoption, weaving it more seamlessly into mainstream financial markets.

Converting the Grayscale XRP Trust into an ETF aims to make investment in XRP easier and more aligned with traditional financial systems. That means the ETF structure could potentially bring in both established and first-time crypto investors, turning a once-controversial asset into something more approachable and SEC-compliant.

It could be months until we find out if an XRP ETF will become a reality. Approval would very likely come with a nice boost to XRP's price, while a denial could go either way, largely depending on if investors increase their exposure to XRP anticipating approval. 

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Author: Justin Derbek
New York News Desk
Breaking Crypto News

The first full day with President Donald Trump back in the White House begun with crypto making a notable leap on Tuesday, buoyed by a resurgence in bullish sentiment following President Donald Trump’s first full day back in the White House. Bitcoin surged over 2%, hitting $107,180 and finding support around $106,200.

In the spotlight was “Official Trump,” a token introduced last week to symbolize the new administration. After a rocky start with a plunge of more than 20%, the token managed to trim its losses to 2.5% within 24 hours. This rebound hints at the market's tentative optimism surrounding Trump's crypto-friendly promises.

SEC Announces Their "Crypto Task Force"...

On the regulatory front, the Securities and Exchange Commission took a proactive step by announcing that Acting Chair Mark Uyeda has established a “crypto task force.” This initiative aims to develop a comprehensive and clear regulatory framework for crypto assets, signaling a move towards more structured oversight in the space.

Trump’s return has been met with enthusiasm from crypto investors who view his presidency as a potential catalyst for industry growth. The president has pledged to implement policies that support cryptocurrencies, including a favorable regulatory environment and the creation of a federal Bitcoin reserve. 

As the crypto market navigates these developments, traders should keep a close eye on regulatory changes and market sentiment shifts. The intersection of political influence and digital assets continues to shape the future landscape of cryptocurrency investment and innovation.
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Author: Oliver Redding
Seattle Newsdesk  / Breaking Crypto News

In a bold move toward integrating cryptocurrency into national policy, Japanese Senator Satoshi Hamada has submitted a formal proposal urging the government to establish a strategic bitcoin (BTC) reserve. The request, officially registered in Japan's Upper House of Parliament, advocates for converting part of the nation's foreign exchange reserves into bitcoin and other virtual currencies.

Hamada's proposal, titled “Letter of Intent on the State of Understanding of the Bitcoin Reserve Movement Promoted by the United States and Other Countries,” underscores the growing global interest in bitcoin as a treasury asset. He highlighted bitcoin’s decentralized and neutral qualities, describing it as less influenced by specific nations or institutions, making it a resilient and reliable economic tool.

This call to action aligns with a broader trend, as nations and corporations worldwide explore bitcoin treasuries to diversify their reserves. The United States, for instance, has drawn attention for its discussions around adopting bitcoin as part of its economic strategy, spurred by promises from President-elect Donald Trump.

In Japan, the interest in bitcoin is also evident in the private sector. A prime example is Metaplanet Inc., a Japanese company that saw its stock value surge by 1,700% in a single year due to its investment in bitcoin. Hamada cited such cases to illustrate the potential benefits of incorporating bitcoin into national reserves.

The Japanese government is expected to issue a formal response to the proposal in the coming weeks, with the reply likely to be published on its official website. How Japan addresses Hamada's initiative could influence other nations, given Japan's reputation for technological innovation and its leadership in adopting financial technologies.

The Move Could Influence Other Nation's to Follow...

As the world watches, Japan's decision could set the tone for how advanced economies approach bitcoin in their fiscal policies, potentially ushering in a new era of cryptocurrency-backed reserves.

Japan has long been a pioneer in cryptocurrency adoption. Bitcoin and other cryptocurrencies have been legal in the country since 2017, though their use has largely been limited to speculative trading since 2019. Hamada’s proposal could signal a shift toward viewing bitcoin not just as an investment or trading tool but as a strategic national asset.

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Author: Adam Lee 
Asia News Desk / Breaking Crypto News

This new feature means businesses can now accept USDC from customers across 150+ countries, a step forward announced by Jeff Weinstein, Stripe’s product lead, on X. With a celebratory tweet, he declared, “Crypto on Stripe is officially back!” and mentioned that the feature is launching immediately for hundreds of thousands of U.S.-based businesses.

And it’s not stopping there—Stripe has plans to bring this crypto payment option to more countries soon. Decrypt has also reached out to get further details on the international rollout timeline.

By bringing crypto back, Stripe joins rival PayPal, which first introduced its “Checkout With Crypto” feature in 2021. Following PayPal’s model, Stripe will make crypto payments easier by automatically converting stablecoin transactions into fiat currency and settling them directly into merchants’ Stripe accounts—making crypto transactions simpler and more accessible than ever.

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Author: Mark Pippen
London Newsroom
GlobalCryptoPress | Breaking Crypto News

PayPal is taking another step forward in the cryptocurrency space, announcing on Wednesday that U.S. merchants can now buy, hold, and sell crypto directly through their business accounts.

This move reflects the growing mainstream acceptance of digital currencies, especially following the approval of Bitcoin exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC) earlier this year. What was once considered a fringe asset class is now becoming more integrated into traditional finance.

"Business owners have increasingly expressed interest in having the same cryptocurrency options that consumers already enjoy," said Jose Fernandez da Ponte, PayPal’s Senior Vice President of Blockchain, Cryptocurrency, and Digital Currencies.

PayPal's Decision to Enter Crypto has Paid Off, Big...

PayPal first entered the crypto scene in 2020, allowing customers to trade and hold Bitcoin and other cryptocurrencies within its platform. Since then, they’ve been leading the charge for fintech companies embracing digital currencies. Most notably, in August 2023, PayPal launched its own dollar-backed stablecoin, marking a major milestone as the first major fintech to introduce a stablecoin for payments and transfers.

Stablecoins, unlike more volatile cryptocurrencies, are tied to stable assets, providing a level of price protection for users wary of the dramatic swings often seen in the market.

In addition to this, PayPal is also allowing U.S. merchants to transfer cryptocurrencies externally to third-party wallets, further expanding their crypto functionality. However, there’s one notable exception—these new crypto services won’t be available to businesses in New York at launch.

PayPal's move into the crypto sector has been paying off, and is credited as a primary reason for the the company's stock boost this year, where it's climbed nearly 26% so far.

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Author: Mark Pippen
London Newsroom
GlobalCryptoPress | Breaking Crypto News

The conversion is underway, and just 1 week in to the process, Polygon is reporting the majority of tokens already converted (Over 60%).

Polygon is migrating from MATIC tokens to a new coin called POL, which will serve as the primary token for gas fees and staking while introducing features like multi-chain staking. This upgrade is expected to bolster network security by enabling staking across multiple chains within the Polygon ecosystem. The rebranding to POL also aligns better with the Polygon name, addressing a longstanding discrepancy where the token for 'Polygon' was traded under the symbol 'MATIC.' While the exact origins of this naming are unclear to many, including traders, the change seems logical.

The migration from MATIC to POL began on September 4, 2024, as a key initiative in the Polygon 2.0 roadmap. Originally announced in mid-2023, this upgrade aims to enhance the network’s scalability, security, and overall functionality.

Will the new token's features increase investor appeal?

The general consensus is positive. POL’s enhanced features, like multi-chain staking, are expected to appeal to investors by allowing staking across various chains in the Polygon network, thereby increasing network security and providing new fee-earning opportunities.

Do you need to take any action?

If you hold MATIC on the Polygon blockchain, your tokens will be automatically converted to POL. However, if you hold MATIC tokens (ERC-20) on Ethereum’s blockchain, you will need to visit the POL Portal to convert your tokens. For those holding MATIC on a centralized exchange, it’s essential to check with the exchange regarding their plans for the migration, as you may still need to manage the conversion manually in some cases.

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Author: Trevor Kingsley
Tech News CITY // New York Newsroom

Update - Yesterday (Sept 8th): The Harris campaign released an outline of what her administration's key issues would be, which included some of the nation's hot topics, and touched on many smaller niche issues as well. 

But even with such a wide range of topics, somehow, not one of them was Cryptocurrency, which managed to go completely unmentioned. 

The original article is below:

The Biden administration has often been criticized as 'anti-crypto' due to a consistent lack of understanding of the industry's fundamentals. However, one of Kamala Harris’s advisors suggests that the current Vice President and Presidential nominee might take a different approach, supporting more pro-crypto policies.

While this news is intriguing, it's wise to remain cautious. The source of this information is Brian Nelson, a key policy adviser for Harris, who recently indicated that she would back measures favorable to the crypto industry.

However, it's important to remember that this is coming from an advisor...

Not a spokesperson, or Kamala herself.  Harris has yet to publicly address her views on digital assets, and the Democratic Party's platform does not mention crypto.  An advisor’s role is to suggest policies, and until Harris publicly endorses these views, nothing is official. This also means that if the stance doesn't materialize, it wouldn't be seen as a broken campaign promise.

For the crypto community to take this seriously, Kamala Harris needs to make a clear statement on her stance regarding digital assets.

According to Bloomberg, Brian Nelson shared during a roundtable at the Democratic National Convention that Harris plans to support policies that would enable the growth of emerging technologies like crypto. This marks the first public insight into how Harris might approach digital assets as a Presidential candidate. Previously, Harris's campaign had engaged with crypto leaders who expressed concerns about the Biden-Harris administration’s perceived hostility toward the industry.

In contrast, former President Donald Trump has fully embraced crypto. In July, he delivered a prominent speech at Bitcoin Nashville, promising to make the U.S. the “crypto capital of the planet.” 

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Author: Oliver Redding
Seattle Newsdesk  / Breaking Crypto News

PayPal’s foray into the world of crypto has been a huge success for the company, and the highlight of this venture has to be their flagship stablecoin, PayPal USD (PYUSD), recently crossing the $1 billion mark in total market capitalization, as reported by CoinMarketCap.

Launched in 2023, PYUSD is pegged to the US dollar at a 1:1 ratio, ensuring stability and ease of use for transactions in the digital economy. The stablecoin is issued by Paxos Trust Company, a US-regulated entity known for its compliance and security standards in the crypto space.

As an ERC-20 token on the Ethereum blockchain, PYUSD benefits from Ethereum’s robust infrastructure and widespread adoption in the blockchain community. This design choice means it’s not only compatible with Ethereum but also integrates seamlessly with the broader ecosystem of third-party developers, wallets, and Web3 applications. For developers and businesses, this translates to an easier onboarding process for integrating PYUSD into their platforms and products, enabling a smoother user experience and expanding the utility of digital assets in everyday transactions.

The rise of PYUSD is a significant milestone, underscoring the growing demand for stable, fiat-backed digital currencies...

Stablecoins blend the benefits of blockchain technology with the familiarity of traditional money. According to Dan Schulman, president and CEO of PayPal, the increasing shift towards digital currencies necessitates reliable, easy-to-integrate financial instruments that are both digitally native and anchored by fiat currencies like the US dollar. PYUSD aims to fill this gap, offering a stable value that helps mitigate the volatility typically associated with cryptocurrencies.

Moreover, PYUSD is the only stablecoin currently supported by PayPal’s payments infrastructure, making it a unique offering in the digital payments space. This exclusivity suggests that PayPal is positioning PYUSD as a cornerstone of its strategy to bridge traditional finance and the decentralized finance (DeFi) world, catering to a growing user base that’s increasingly comfortable with digital currencies.

For crypto exchanges, the appeal of PYUSD lies in its backing by a trusted name like PayPal and a regulated issuer like Paxos, offering an extra layer of credibility that many other stablecoins lack. As stablecoins continue to play a pivotal role in the adoption of digital currencies, PYUSD’s rapid ascent highlights the potential for major fintech companies to influence and shape the future of digital payments.

With PYUSD’s market cap on the rise, all eyes are on how PayPal will leverage its established global reach and technological prowess to further drive the adoption of digital currencies and redefine the landscape of online payments. As the digital finance space evolves, PYUSD could be a key player in the ongoing transformation of how value is stored, transferred, and used in a world that’s increasingly turning to blockchain technology.

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Author: Oliver Redding
Seattle Newsdesk  / Breaking Crypto News

In a sweeping operation across Germany, authorities have confiscated nearly €25 million ($28 million) in cash from cryptocurrency ATMs that were operating without proper permits, according to a statement issued by the country’s financial regulator, BaFin, on Tuesday.

The operation targeted cryptocurrency ATMs located in 35 different sites across the country. These machines were facilitating the trade of Bitcoin and other cryptocurrencies but lacked the necessary licensing, which raised concerns about their potential use in money laundering activities.

BaFin collaborated closely with law enforcement agencies and the German Bundesbank to carry out this extensive operation. The seizure of these ATMs marks a significant step in Germany’s ongoing efforts to regulate the fast-growing cryptocurrency market, particularly in the wake of a global surge in Bitcoin ATM installations in 2024.

The crackdown also underscores Germany's commitment to stringent regulatory enforcement within the crypto space. ATM operators found to be in violation of licensing requirements face severe legal consequences, including penalties of up to five years in prison, according to AML Intelligence.

This recent action is part of a broader regulatory push by German authorities to manage the risks associated with cryptocurrencies. The German government has been under scrutiny for its approach to handling seized digital assets, particularly after it liquidated the last of its seized Bitcoins in July 2024. That sale included 3,846 Bitcoins, each valued at approximately $62,604, most of which had been confiscated in previous operations.

As Germany continues to tighten its grip on the cryptocurrency sector, this operation serves as a stark reminder to operators that compliance with regulatory requirements is not optional.

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Author: Mark Pippen
London Newsroom
GlobalCryptoPress | Breaking Crypto News

The price of Bitcoin has plummeted more than 7.5% in the last 24 hours, plunging to around $62,000 on several major exchanges.

At the time of this publication, Bitcoin is trading at approximately $64,300 per unit.

Bitcoin's downfall was not an isolated event. The S&P 500 index, which comprises the largest American companies, also experienced a significant decline in the past week, accentuated on the last business day. The same occurred with markets in other countries, indicating a global market reaction.

The primary apparent reason for these market movements is the escalating tensions in the Middle East, specifically the conflict in Israel and the potential for a larger-scale conflict brewing, as Iran has launched attacks.

What Could Reverse the Trend?

The imminent approval of Bitcoin ETFs in Hong Kong, one of the world's five largest financial markets, could be a turning point. The impact of such a measure would be substantial, as it could potentially influence the Chinese government to relax restrictions on the use of digital assets.

Additionally, the next Bitcoin halving event, which reduces the issuance of BTC per mined block by half, is just days away. This event typically generates significant media attention and visibility for Bitcoin, serving as a remarkable marketing opportunity.

Furthermore, each halving reminds the market that Bitcoin is a scarce asset and that the available quantity for acquisition will become increasingly limited, which has historically acted as an upward catalyst for its price in the medium and long term.

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Author: Mark Pippen
London Newsroom
GlobalCryptoPress | Breaking Crypto News

On numerous occasions, China has banned various activities with bitcoin (BTC) and cryptocurrencies, including trading, transactions, and mining. For this reason, in mainland China, the launch of exchange-traded funds (ETFs) based on this type of financial asset is not permitted.

However, Hong Kong, while part of China, is considered a 'special administrative region' able to govern itself separately from mainland China in certain cases, one of which is the ability to regulate Hong Kong-based investment firms. When it comes to crypto, Hong Kong allows companies and residents to invest, putting them at odds with mainland China, where crypto remains banned.

Bitcoin ETF's via Hong Kong....

Financial news outlets in China are now reporting that financial giants such as Harvest Fund and Southern Fund have submitted applications to launch bitcoin ETFs through their Hong Kong subsidiaries. Harvest Fund manages more than $230 billion in total assets, while Southern Fund manages over $280 billion.

Additionally, smaller companies like 'Jiashi Fund' are attempting to use their Hong Kong subsidiary, 'Jiashi International,' to offer clients access to a Bitcoin ETF.

Regardless of size, all companies that have applied are now awaiting the decision of the Hong Kong Securities and Futures Commission, the regulatory authority that will be deciding on these applications.

Approval May Come Soon - Catching Many Off-Guard...

According to reports from China, these firms are expecting to receive approval to launch their Bitcoin ETF products and believe they could be actively promoting them as early as this quarter.

Bitcoin ETF approval in Hong Kong would be another major milestone for Bitcoin, making it easily accessible in one of the world's largest financial markets.

China has been off the radar for most crypto investors, there's been little reason to pay much attention as it's remained firm on their existing ban. While trading continued in Hong Kong, the volume coming from this small beacon of freedom isn't determining any winners and losers.   But ETF's bring the potential for large investments from Chinese corporations, also potentially attracting other Asian nations already active in the Chinese markets. 

An Influence on Mainland China...

If Bitcoin ETFs in Hong Kong turn out to be a success, and especially if they manage to attract international capital, companies in mainland China will likely respond by putting pressure on the government to reconsider their stance toward bitcoin.

Chinese President Xi Jinping will find it difficult to defend his position if the US, European nations, and now Hong Kong companies stake their claim in the multi-billion dollar Bitcoin ETF market, while those in mainland China are forced to remain spectators.

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Author: Adam Lee 
Asia News Desk / Breaking Crypto News