**Bitcoin Miners See Revenue Boost**: The recent surge in Bitcoin's hashrate has resulted in a significant increase in miners' revenues. This improvement is critical as it has led to a **reduction in selling pressure** from miners, which typically occurs when they liquidate their rewards to cover operational costs. 

As miners earn more from their operations, the overall sentiment in the market can shift positively. This change can help stabilize prices and potentially lead to increased **investment interest** in Bitcoin. 

In the broader context, the current environment reflects a growing optimism among miners, which may influence their strategies moving forward. 

Stay updated on the latest trends and insights in the cryptocurrency space, as they can have profound impacts on your investment decisions.

The latest recovery is attributed to improved revenues, which have led to a reduction in selling pressure from miners.

Bitcoin Miners Experience Revenue Surge as Hashrate Rebounds: What It Means for the Market

### A Promising Year for Crypto ETFs

2025 is shaping up to be a **significant year** for cryptocurrency exchange-traded funds (ETFs), as highlighted by **Laser Digital**, the digital asset subsidiary of the financial services giant **Nomura**. According to a recent report, more than **twelve new crypto ETFs** could potentially launch in the U.S. this year, pending approval from the **Securities and Exchange Commission (SEC)**.

### The SEC Filings

As of now, asset managers have submitted **12 filings** to the SEC, which include exciting potential products like a **ProShares ETF** that tracks the S&P 500's return in Bitcoin, as well as combined Bitcoin/Ether ETFs and products based on **Litecoin, XRP, and Solana**.

**Laser Digital** anticipates that the **Bitcoin/Ether ETF** will likely be the first to receive approval, paving the way for further developments in the crypto ETF landscape.

### Previous Successes

The launch of **spot Bitcoin ETFs** in the U.S. last January was a remarkable success, with **Blackrock's iShares Bitcoin Trust (IBIT)** gathering approximately **$53 billion** in assets under management within its first 11 months, outpacing all prior ETF launches.

### Regulatory Changes and Future Outlook

With the recent appointment of **Paul Atkins** as the new SEC chairman and the exit of **Gary Gensler**, the environment for crypto regulation is changing. This shift is expected to lead to a decrease in ongoing lawsuits against crypto companies, enhancing the likelihood of approval for new ETFs.

**Laser Digital** projects that the ETF market will continue to grow in terms of **assets under management (AUM)** and will see broader adoption among **institutional investors** in 2025, especially with **Donald Trump** returning to office alongside a supportive regulatory team.

### Grayscale's Moves

In related news, asset manager **Grayscale** is looking to convert its **Grayscale Solana Trust (GSOL)** into an ETF by December, indicating a broader trend towards ETF adoption in the crypto space.

**Read more:** [Grayscale Files to Convert Solana Trust Into ETF](https://www.coindesk.com/markets/2024/12/03/grayscale-files-to-convert-solana-trust-into-etf-filing)

More than 12 new digital asset ETFs could be launched in the U.S. this year, if approved by the SEC, the report said.

2025: The Year Crypto ETFs Could Transform the Market

# New York Attorney General Files Lawsuit to Recover Stolen Cryptocurrency

New York Attorney General **Letitia James** has **filed a lawsuit** aimed at recovering **$2.2 million** in cryptocurrency stolen through a **scam targeting job seekers**. This fraudulent scheme involved **false promises of remote work opportunities** that lured victims into creating cryptocurrency accounts.

Victims were **contacted via text messages** and instructed to deposit funds under the pretense of reviewing products on websites that mimicked legitimate brands. They were assured that these deposits were necessary to **“legitimize” the process**, and that they would not actually be purchasing products. However, the promised reimbursements and commissions never materialized. Instead, the cryptocurrency deposited was **funneled into wallets controlled by the scammers**. 

Victims were often pressured to maintain **cryptocurrency balances** to access more tasks, further exacerbating their losses. James' office, in collaboration with the **U.S. Secret Service**, has managed to **freeze nearly $2.2 million** in stolen cryptocurrency, primarily in stablecoins like **USDC** and **Tether**. 

The lawsuit brings to light the plight of victims, including a hotel receptionist and a teacher from New York, each losing over **$100,000**, and a tech worker from Florida who was defrauded of more than **$300,000**. 

In a novel legal strategy, the Attorney General’s office plans to **notify the scammers via NFTs** airdropped to the cryptocurrency wallets used by the fraudsters. These NFTs will contain links to legal documents on a government website, ensuring that the scammers are notified despite their anonymity. This approach marks a **first for U.S. regulators** in tackling crypto-related fraud.

The lawsuit outlines tactics akin to **

New York Attorney General Letitia James has filed a lawsuit to recover $2.2 million in cryptocurrency stolen through a scam targeting job seekers.

New York Attorney General Takes Bold Action to Recover $2.2 Million in Cryptocurrency Job Scam

## Jamie Dimon's Unwavering Skepticism Towards Bitcoin

![JPMorgan CEO Doesn’t Feel Great About Bitcoin](https://u.today/sites/default/files/styles/736/public/2025-01/5438.jpg)

JPMorgan CEO **Jamie Dimon** continues to express his skepticism about **Bitcoin**, despite the cryptocurrency's growing institutional acceptance. In a recent interview with CBS, he stated that he doesn't feel **"great"** about Bitcoin, emphasizing that he believes it has **no intrinsic value**.

Dimon highlighted concerns over Bitcoin's use in **money laundering** and other **criminal activities**. As a long-time critic of Bitcoin, he previously declared in 2017 that he would terminate any JPMorgan trader involved with Bitcoin, labeling it as **"a fraud."** Last year, he advised against engaging with Bitcoin altogether.

In his latest remarks, Dimon compared Bitcoin to **smoking**, acknowledging that while individuals should have the freedom to purchase it, he does not consider it a wise choice. Interestingly, despite his personal views, JPMorgan launched an **in-house Bitcoin fund** in 2021 and revealed minor exposure to Bitcoin **ETFs** last year.

As the CEO of the largest US bank, it appears Dimon will remain distant from embracing cryptocurrency, especially as he hints towards retirement plans. He indicated that even after stepping down as CEO, he would likely continue as the bank's **chairman**. The future leadership of JPMorgan remains uncertain as Dimon’s departure approaches.

Jamie Dimon remains a staunch Bitcoin skeptic

JPMorgan's Jamie Dimon Doubts Bitcoin's Value: A Deep Dive into His Skepticism

### Overview
Taxes collected from Bitcoin miners in **Kyrgyzstan** have experienced a significant **drop of over 50%** year-on-year in 2024. Despite a global bull market, miners paid only about **$500,000** in taxes, a stark contrast to the **$1.03 million** collected in 2023. This decline can largely be attributed to the recent **BTC halving** and various global disruptions affecting the mining sector.

### Background
Kyrgyzstan has become a favored destination for miners, especially after many fled **China** due to a crackdown on cryptocurrency operations. The country previously collected **93.7 million som** in taxes from miners in 2023, showcasing its appeal due to a **friendly tax regime** and **affordable hydroelectric power**.

### Tax Drops
However, recent reports indicate that by August 2024, the Kyrgyz government had collected **30% less** in taxes compared to the same period in 2023. Miners in Kyrgyzstan are subject to a **10% tax on electricity fees** consumed, along with sales and VAT.

### Regional Competition
Kyrgyzstan is in competition with **Kazakhstan**, which has historically been a leader in Bitcoin mining in the region. Kazakhstan once accounted for **up to 7%** of the global BTC mining activity, but its mining sector has also faced challenges due to energy constraints.

### Global Context
The decline in Kyrgyzstan’s mining tax revenue mirrors a broader trend for BTC miners globally, with a **JP Morgan report** indicating that mining profits have consistently dipped over the past months. Many miners are merging or selling their operations to larger firms to stay afloat in this challenging environment.

### Future Outlook
Interestingly, there is a glimmer of hope for BTC miners tied to **Donald Trump’s** potential return to the presidency, as he has expressed intentions to ensure that all BTC mined in the US remains within the country, alongside plans for a national BTC reserve. This could potentially stabilize or even enhance the mining landscape in Kyrgyzstan and beyond.

### Watch the Video
![Bringing the Metanet to life with Teranode](https://108.181.11.39/embed/KDo5IH7GCbs?si=Tp5qhaMfiCucXCVC&controls=0)

Despite the global bull market, Kyrgyz miners paid around $500,000 in taxes, half the 2023 figure, as the BTC halving and global disruptions took their toll.

Kyrgyzstan's Bitcoin Tax Revenue Plummets by 50% Amid Global Market Challenges

## Scott Bessent's Strategic Move to Liquidate Bitcoin ETF Holdings

**Billionaire hedge fund manager** Scott Bessent, nominated by President-elect **Donald Trump** for Treasury Secretary, is set to divest his investments, including **Bitcoin (BTC) exchange-traded funds (ETFs)**, to avoid potential conflicts of interest. This decision comes as part of his **ethics agreement** filed ahead of his Senate confirmation.

On January 13, 2025, it was revealed that Bessent's assets total over **$700 million**, which includes BTC ETF holdings valued between **$250,000 and $500,000**. This information was disclosed in a report by **The New York Times**.

### Other Conflicts of Interest

Among the other significant investments that may pose a conflict are a **$50 million margin loan** with **Goldman Sachs**, a trading account for **China's currency**, and a stake in the conservative publisher **All Seasons**. Bessent has committed to the ethics office to "avoid any actual or apparent conflict of interest" if confirmed.

### Challenges Ahead for Bessent

If confirmed, Bessent, who is known for his pro-crypto stance, will face the daunting task of managing the **growing federal debt** while addressing Trump's agenda to extend **tax cuts** and eliminate taxes on **social security benefits**. His advocacy for **tax reform** and **deregulation** aims to enhance **bank lending** and stimulate **energy production**. 

In previous statements, Bessent has indicated that the new Trump administration would likely pursue a **strong dollar**, aligning with Washington's long-standing economic policy.

Trump's Treasury nominee Scott Bessent plans to liquidate a string of investments, including BTC ETF, to avoid a potential conflict of interest. 

Scott Bessent's Bitcoin ETF Divestment: What It Means for Trump's Treasury Plans

## Tariffs and a Strong Dollar Challenge Digital Asset Stability Amid Economic Policy Shifts

Bitcoin has faced significant **volatility** recently, largely attributed to the **strong dollar** and President Trump's potential **tariff plans**. Following a remarkable rise of over **45%** after the November 5 presidential election, Bitcoin's momentum has stalled, leading to concerns about its future performance.

### Key Takeaways
- Bitcoin experienced its **worst weekly performance** due to a strong dollar and Trump's tariff proposals.
- Despite short-term challenges, **long-term structural tailwinds** for Bitcoin and digital assets remain intact.

Bitcoin began the week positively, reclaiming **$102,000** but quickly fell below **$97,000**, signaling a struggle to maintain its value. Zach Pandl, head of research at Grayscale Investments, noted, *“Bitcoin’s problem at the moment is the strong dollar,”* highlighting the impact of the Federal Reserve's recent signals that have bolstered the dollar.

Trump's consideration of a **national economic emergency** to implement universal tariffs could lead to inflationary pressures, creating further uncertainty in the market. Initial optimism about a pro-crypto environment under Trump's administration may be dampened by these conflicting signals.

## Continued High Interest Rates
Recent **strong payroll numbers** suggest that the Federal Reserve may not be as urgent in cutting rates, with market participants now predicting a **97% likelihood** of unchanged rates in the upcoming January meeting. The Fed's cautious stance amidst ongoing inflationary pressures could lead to **choppy conditions** for risk assets like Bitcoin, despite the potential for long-term growth.

## Pro-Crypto Legislation May Take Time
Analysts from JPMorgan and NYDIG suggest that while there is a generally positive outlook for digital assets, **pro-crypto legislation** is unlikely to see immediate action in Congress due to other priorities. However, there is confidence that digital assets will eventually regain attention, leading to potential frameworks for **stablecoins** and market structure.

![CME FedWatch Tool](https://static.cryptobriefing.com/wp-content/uploads/2025/01/12231647/CME-FedWatch-Tool.png)  
*Data from CME FedWatch Tool shows market expectations for interest rates.*

Bitcoin faces volatility amid strong dollar and Trump's crypto trades, affecting digital assets' rally and economic dynamics.

Is Bitcoin's Rally at Risk? Trump's Policies and a Strong Dollar Create Turbulence

XRP’s **future hangs in the balance** as the SEC faces a **January 15** deadline for its appeal in the Ripple case. Will the case take a new turn?

### SEC Closed Meeting: Ripple Case Under Discussion?
On January 10, the SEC held a **closed meeting** to discuss various litigation matters, possibly including the Ripple case. While details are scarce, the timing suggests that the **Ripple case** was a key topic.

### OIG Investigation into Crypto Conflicts of Interest Within the SEC
The SEC’s internal investigation into **crypto conflicts of interest** continues, particularly regarding former SEC Director William Hinman. His controversial 2018 statement regarding Bitcoin and Ethereum not being securities has raised eyebrows, especially considering his ties to a law firm promoting **Enterprise Ethereum**.

### Bitcoin Hovers as Pro-Crypto Administration Countdown Hits Seven
Meanwhile, Bitcoin continues to hover around **$95k** after a recent dip below **$100k**. With President-elect Donald Trump’s inauguration approaching, a **pro-crypto administration** is expected to influence the market positively. The proposed **US Strategic Bitcoin Reserve** could significantly alter BTC’s supply-demand dynamics.

In a recent interview, crypto advocate **Anthony Scaramucci** suggested that the US government might acquire up to **500k BTC**, boosting its existing stockpile. This move, if realized, could lead to a **bullish outlook** for Bitcoin.

### Bitcoin Price Outlook
On January 12, BTC closed at **$94,585**, with its near-term trends dependent on upcoming **US inflation data** and **Strategic Bitcoin Reserve** developments. Hotter-than-expected inflation could trigger spot ETF outflows, while progress towards an SBR might mitigate adverse effects, supporting new highs for BTC. However, resistance to the SBR could push BTC below **$90,742**.

![XRPUSD Daily Chart](https://www.fxempire.com/crypto/ripple)
Explore our expert analysis on the SEC’s next move and its implications for XRP’s future.

XRP’s future hangs in the balance as the SEC faces a January 15 deadline for its appeal in the Ripple case. Will the case take a new turn?

Bitcoin Miners Experience Revenue Surge as Hashrate Rebounds: What It Means for the Market

Summary:

Comments

Subscribe our Newsletter

BitcoinToday.app

Other Latest News

2025: The Year Crypto ETFs Could Transform the Market

New York Attorney General Takes Bold Action to Recover $2.2 Million in Cryptocurrency Job Scam

JPMorgan's Jamie Dimon Doubts Bitcoin's Value: A Deep Dive into His Skepticism

Kyrgyzstan's Bitcoin Tax Revenue Plummets by 50% Amid Global Market Challenges

Scott Bessent's Bitcoin ETF Divestment: What It Means for Trump's Treasury Plans

Is Bitcoin's Rally at Risk? Trump's Policies and a Strong Dollar Create Turbulence

Ripple's Future at Stake: SEC's Appeal Deadline and Bitcoin's Strategic Moves

Other Latest News

2025: The Year Crypto ETFs Could Transform the Market

New York Attorney General Takes Bold Action to Recover $2.2 Million in Cryptocurrency Job Scam

JPMorgan's Jamie Dimon Doubts Bitcoin's Value: A Deep Dive into His Skepticism

Kyrgyzstan's Bitcoin Tax Revenue Plummets by 50% Amid Global Market Challenges

Scott Bessent's Bitcoin ETF Divestment: What It Means for Trump's Treasury Plans

Is Bitcoin's Rally at Risk? Trump's Policies and a Strong Dollar Create Turbulence

Ripple's Future at Stake: SEC's Appeal Deadline and Bitcoin's Strategic Moves