Top 5 Crypto News of the Week! (01 - 07 September)
Dear PointPay Family,
This week's news, gathered in one place and presented in a convenient and concise format. This is a selection of the top 5 news from the world of cryptocurrencies over the past 7 days from PointPay!
Tom Lee to Lead BitMine’s Ethereum Push
BitMine Immersion Technologies has appointed Wall Street strategist Tom Lee as chairman of its board. Alongside the leadership change, the company announced a $250 million private placement to accumulate ether, which it intends to use as its main treasury reserve asset. The move highlights growing institutional focus on Ethereum, particularly as stablecoins - most of which run on its network - gain broader traction. BitMine plans to track ether held per share as a key performance metric, echoing MicroStrategy’s bitcoin strategy.
Philippines Eyes Blockchain for National Budget
Philippine Senator Bam Aquino has proposed putting the country’s entire national budget on a blockchain, enabling real-time tracking of government spending. The initiative builds on an existing system already using Polygon to verify fiscal documents, giving the Philippines a head start in adopting blockchain for transparency. If implemented, it would make the nation one of the first to put its budget fully on-chain, though political backing remains uncertain.
Vitalik Buterin Raises Alarm Over Quantum Threats
Ethereum co-founder Vitalik Buterin has warned that quantum computers could pose a significant risk to Bitcoin’s cryptography within the next decade, estimating a 20% chance of disruption by 2030. By 2040, the threat may grow further, potentially compromising wallet security and transactions. To address this, Buterin advocates early adoption of quantum-resistant cryptography. Ethereum is already exploring solutions such as lattice-based and hash-based systems to safeguard digital assets before quantum computing becomes a real-world challenge.
CalPERS Candidates Divided on Bitcoin Exposure
California’s $506 billion public pension fund, CalPERS, is facing mixed opinions from board candidates over crypto investments. The system currently holds more than 410,000 shares in MicroStrategy, valued at roughly $166 million, giving it significant indirect exposure to Bitcoin. While some candidates expressed skepticism, others acknowledged blockchain’s potential and suggested keeping the option open for future investment.
Texas Residents Battle Bitcoin Mining Noise
Residents of Hood County, Texas, are pushing to incorporate their community into a new town, Mitchell Bend, in order to regulate a nearby Bitcoin mine operated by Marathon Digital. Locals say the facility has caused constant noise, declining property values, and health issues, sparking lawsuits and community action. Despite denials from the company, residents are preparing to vote on incorporation this November, with plans to enforce stricter noise limits. The outcome could set a precedent for how local communities respond to large-scale crypto mining operations.
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