Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation.
Today in crypto, Roger Ver, widely known as “Bitcoin Jesus,” is contesting charges made against him by the United States Department of Justice (DOJ), MARA Holdings has bought another $1.1 billion worth of Bitcoin and reached an industry-record hashrate, and New York has approved Ripple’s RLUSD stablecoin.
Roger Ver claims US targets him for Bitcoin advocacy, not taxes
Ver, who renounced his US citizenship in 2014, was arrested in Spain in April. US authorities are seeking his extradition on charges including tax evasion, mail fraud and filing false tax returns.
Prosecutors claim Ver undervalued his assets and failed to report ownership of about 131,000 Bitcoin . He denied the allegations in an interview with Tucker Carlson on Dec. 10.
“I wasn’t an American citizen or living in the US at the time these claims were made,” Ver said. He accused the US government of being “angry” not about taxes but about his “lack of obedience.”
According to the DOJ, Ver failed to report significant capital gains from Bitcoin sales and underreported the value of two companies when he renounced his US citizenship in 2014. Prosecutors allege Ver concealed 131,000 BTC, worth nearly $240 million at the time of sale in 2017, leading to a $48 million tax shortfall.
Ver’s defense argues the allegations are outdated and stem from ambiguous cryptocurrency tax laws. His legal team also contends that US prosecutors misused confidential communications and violated legal protections.
MARA buys $1.1 billion of Bitcoin, hits industry-first 50 EH/s
Bitcoin mining heavyweight MARA Holdings Inc. bought another 11,774 BTC for $1.1 billion on Dec. 10 and — an industry first — said its hashrate exceeded 50 exahashes per second (EH/s).
MARA said it snapped up its latest haul from its zero-coupon convertible note offering from last month at a price of $96,000 per BTC. As of Dec. 9, it held 40,435 Bitcoin, worth $3.92 billion at its current price of around $97,000.
The Bitcoin miner also reported that it had doubled its energized hashrate in 2024 to reach its end-of-year target of 50 EH/s — making it the first public Bitcoin miner to cross the milestone.
“Mission accomplished … but why stop here,” MARA CEO Fred Thiel wrote on X. “we have more miners on the shelf and we will just keep on adding using our existing capacity.”
MARA (MARA) shares closed down 4.4% to $22.81 on Dec. 10 and saw only a slight 0.5% gain at the end of after-hours trading, Google Finance data shows. MARA is down 0.55% this year after it was one of the industry’s best performers in the 2023 market rebound, rising 586% over last year.
NYDFS approves Ripple stablecoin
The New York Department of Financial Services (NYDFS) has approved Ripple’s RLUSD stablecoin, according to Ripples Labs CEO Brad Garlinghouse.
In a Dec. 10 social media post, Garlinghouse said Ripple would “soon” announce exchange listings for the RLUSD stablecoin. RLUSD was announced in April as a product intended to compete with popular dollar-pegged stablecoins Tether USDT $ 1.00 and USD Coin USDC $ 0.9996.
RLUSD entered its testing phase on the XRP ledger and Ethereum mainnets in August.
Stablecoins have emerged as one of the most popular use cases for cryptocurrency. Ripple executives believe the collective stablecoin market could reach $2 trillion in the next four years, up from around $207 billion today.
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