Top 5 Crypto News of the Week! (10 - 16 November)
Dear PointPay Family,
Week after week, we are preparing a selection of the best news for you - and this time is no exception. Immerse yourself in the key events of recent days in our top 5! Everything is in a convenient TL;DR format.
New US Tax Rules Favor Corporate and Crypto Giants
The US Treasury and IRS have introduced new regulations that significantly ease tax obligations for large corporations and wealthy investors. The measures, quietly enacted, weaken parts of the 2022 corporate minimum tax law, which was meant to ensure major firms paid a fair share of federal taxes. Analysts warn that these changes could substantially cut projected tax revenues and expand the sweeping corporate tax relief policies first introduced under the Trump administration. The move has drawn criticism for benefiting big business and digital asset companies while undermining broader fiscal reforms.
Bitcoin User Loses $105K in Costly Transaction Mistake
A Bitcoin user accidentally paid nearly $105,000 in transaction fees for a transfer worth just $10, shocking the crypto community. The incident occurred when a trader mistakenly set a 0.99 BTC fee while sending a small amount to a Kraken wallet. The transaction was mined by MARA Pool and flagged by Whale Alert. While not the largest fee error on record, the mishap highlights ongoing risks tied to manual wallet settings and underscores the importance of caution when managing crypto transactions.
Strategy Expands Bitcoin Portfolio with $49.9M Purchase
Investment firm Strategy continues to grow its Bitcoin reserves, acquiring 487 BTC for $49.9 million at an average price of $102,557 per coin. The company also secured $715 million through a new euro-denominated preferred share offering, designed to attract European investors. Though priced below initial expectations, the offering provides Strategy with additional capital to pursue its aggressive Bitcoin acquisition strategy, reinforcing its position among leading corporate holders of digital assets.
China Accuses US of Seizing 127,000 BTC in Major Crypto Dispute
China's National Computer Virus Emergency Response Center (CVERC) has accused the US government of unlawfully seizing 127,000 Bitcoin, valued at over $13 billion, that were allegedly stolen from a Chinese mining pool in 2020. Beijing claims the hack was carried out by a state-sponsored group and argues that the US seizure was part of a wider covert operation. Washington denies the allegations, stating that the confiscation targeted criminal proceeds. The dispute adds new tension to the already strained US-China relationship in the digital and cybersecurity domains.
Visa Launches Pilot for Stablecoin Payouts
Visa has introduced a pilot program enabling businesses to send payments directly in stablecoins, starting with USDC. The initiative supports creators, freelancers, and gig economy workers by allowing near-instant global transfers to compatible wallets. According to Visa, the program marks a major step toward faster and more inclusive digital payments, especially for those in regions with unstable currencies or limited banking access. The pilot builds on Visa's earlier stablecoin experiments and will expand further by 2026 as regulatory conditions mature.
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