Greetings Bitcoiner,

Welcome to Issue #152 of Bitcoin Breakdown, where we’re bringing you your end-of-week Bitcoin Digest featuring need-to-know Quick Bits snippets and Quick Media.

But first, today’s Top Stories:

• 🚫 Trump's Treasury Pick Slams Door on CBDC

• 🎭 Coinbase's 'Bitcoin' Loans: More Smoke Than Sats

• 🤡 Trump Reportedly Open To ‘America-First’ Strategic Reserve For Altcoins Like Solana & XRP

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TODAY’S TOP STORIES

🚫 Trump's Treasury Pick Slams Door on CBDC

Incoming Treasury Secretary Scott Bessent just torpedoed any 'Fedcoin' fantasy, declaring he 'sees no reason' for a US digital dollar during Senate testimony. Republicans cheer the 'CBDC Anti-Surveillance State Act' punching through Congress. His stance perfectly aligns with Trump's campaign promise that 'there will never be a CBDC' under his watch. The House has already passed an anti-CBDC bill that would ban the Fed from issuing digital dollars, with the Senate set to review it next. Atlas21

🎭 Coinbase's 'Bitcoin' Loans: More Smoke Than Sats

Coinbase is pushing so-called Bitcoin-backed loans in 2025 that are actually collateralized by a centralized wrapped token, cbBTC. The loans are issued through Morpho Labs on Base blockchain, completely disconnected from Bitcoin's network. While Bitcoin-backed loans could help holders avoid tax events when accessing liquidity, Coinbase's offering adds unnecessary layers of centralization and risk. True Bitcoin-native lending solutions are still in development, with companies like Lava.xyz leading the charge toward actual BTCfi rather than marketing gimmicks. Bitcoin Magazine

🤡 Trump Reportedly Open To ‘America-First’ Strategic Reserve For Altcoins Like Solana & XRP

Trump's appointment of Bitcoin and crypto-friendly David Sacks as ‘AI and crypto czar’, along with plans for a Bitcoin reserve and anti-debanking measures, signals a dramatic policy shift. His administration is, however, now rumored to also be receptive to a strategic reserve packed with ‘homegrown’ crypto projects following a recent dinner with Ripple executives. We are so early… New York Post

POLL

QUICK BITS

• Trump reported by Bloomberg to prioritize Bitcoin and crypto as a key policy issue with an executive order, emphasizing expert collaboration and a potential pause on industry litigation.

• F2Pool, a Bitcoin mining pool, appears to be filtering OFAC-sanctioned transactions again, raising concerns about transaction censorship in the Bitcoin network.

• Bhutan government transfers a staggering 633 BTC to two unknown wallets, with one potentially linked to the crypto exchange giant Binance.

• Chainalysis, a blockchain analytics firm, reports 63% of crypto crime now involves stablecoins, with $40.9B sent to illicit addresses in 2024, highlighting rising threats.

• Benchmark reveals MicroStrategy's ambitious plan to raise $2B through perpetual preferred stock offering for Bitcoin acquisition strategy.

• The Dollar Index (DXY) hit a 26-month high of 110, spotlighting its inverse correlation with Bitcoin, which has generally struggled when the DXY is strong.

• Komainu, a Nomura-backed Bitcoin and crypto firm, raises $75M in BTC from Blockstream Capital to fuel global expansion and welcomes Blockstream CEO Adam Back to its board.

• HashKey predicts BTC will surpass $300,000 in 2025, driven by regulatory clarity, ETFs, and market growth.

• IRS mandates centralized Bitcoin and crypto exchanges to report transactions with new 1099-DA form, starting 2025, to ensure tax compliance.

• JPMorgan predicts bitcoin’s dominance to grow over all altcoins in 2025, fueled by spot ETFs, institutional investments, and advancements in layer 2 technology.

• Top Republican SEC officials plan Bitcoin and crypto policy overhaul as Trump takes office, signaling potential regulatory changes and freeze on enforcement actions.

• Bitcoin Coalition of Canada proposes groundbreaking federal recommendations to establish national Bitcoin reserves and promote Bitcoin and crypto adoption across economic sectors.

• Wintermute, a Bitcoin and crypto market maker, reports a massive surge in institutional trading as OTC volumes soar 313% amid Bitcoin ETF approval and regulatory clarity.

• Tulip Siddiq, a pro-Bitcoin and crypto UK minister, resigns amid corruption allegations, sparking uncertainty over digital asset regulations in Britain.

• Survey reveals 68% of Americans now own BTC and crypto, with the majority selling traditional assets for BTC amid Trump-driven market optimism in 2025.

• BitMEX fined $100M for anti-money laundering violations amid ongoing legal battles with US authorities, despite previous penalties and founder guilty pleas.

• Senator Cynthia Lummis raises concerns over US plans to liquidate 69,370 Silk Road BTC and alleged FDIC destruction of Operation Chokepoint 2.0 materials.

• eToro targets $5B valuation with confidential US IPO filing, despite reducing Bitcoin and crypto trading after SEC settlement.

• Vinteum funds Plebhash to advance Stratum V2 protocol and drive Bitcoin mining decentralization across Brazil and Latin America.

• Arkansas lawmakers propose a ban on Bitcoin mining near military bases, citing national security and noise concerns impacting communities and wildlife.

• Fidelity boosts bitcoin holdings with $463M purchase as institutional adoption rises and BTC price predictions exceed $200K for 2025.

• Pension funds increasingly explore bitcoin investments through ETFs as Trump's pro-Bitcoin and crypto stance and record-high prices spark institutional interest in the industry.

• Upbit faces suspension of new user registrations in South Korea amid allegations of KYC violations and potential $34B penalties.

• Russia’s ‘crypto queen’ accused of stealing $21.3M in bitcoin and fiat funds through fraudulent investment schemes targeting clients.

• Deribit, Europe’s largest crypto options exchange, faces scrutiny over offshore operations, broker ties, and Howard Lutnick’s divestment ahead of Trump administration ethics compliance.

• Boerse Stuttgart, an EU stock exchange, reports crypto services driving 25% of 2024 revenue, with bitcoin as the top-traded asset in a growing EU market.

• River study finds over 1.6M BTC lost to self-custody, surpassing losses from Mt. Gox and FTX exchange incidents.

• Former UK delivery driver faces additional seven-year sentence unless $3.8M in BTC laundering proceeds are repaid within three months.

• Coin Center fellow challenges DOJ's authority to prosecute Bitcoin and crypto developers, citing First and Fifth Amendment violations in a federal lawsuit against Garland.

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QUICK MEDIA

• Paco de la India, a Bitcoin vlogger, publishes his last vlog as he explores Curacao while using Bitcoin for travel, food, and local purchases, showcasing the island's growing Bitcoin adoption (Jan 16 | 7:42 min watch).

• Dave Portnoy takes it as a major insult after CoinCorner sends him a Bitcoin children’s book because he ‘struggles with Bitcoin’ in a hilarious video response to their package (Jan 13 | 0:33 min watch).

• Africa Bitcoin Conference reveals the location for their 2025 event in a short upload (Jan 16 | 0:50 min watch).

• Gary Gensler discusses Bitcoin versus other cryptocurrencies in his likely final interview as SEC chairman (Jan 14 | 2:09 min watch).

• Scott Bessent, Donald Trump's Treasury Secretary pick, opposes a US CBDC, stating there is no reason for its implementation (Jan 16 | 0:07 min watch).

• Bukele highlights how critics of his bitcoin policy keep shifting goalposts from opposing investment to now dictating profit use (Jan 17 | 4:18 min watch).

• Renato Moicano explains how Bitcoin empowers individuals with financial freedom and stability, highlighting its importance in today's global economy (Jan 16 | 1:09 min watch).

• Dr. Jack Kruse examines Bitcoin's robustness when faced with a potential catastrophic solar flare, contrasting its decentralized design with the vulnerabilities of centralized systems (Jan 10 | 4:01 min watch).

• David Bombal and Naomi Brockwell discuss why GrapheneOS on a Pixel phone is the best privacy alternative to iOS and Android in 2025 (Jan 10 | 15:23 min watch).

• Katie from Plan B Passport explores the evolving $25B 'citizenship by investment' industry and the impact of Bitcoin on global mobility and wealth protection (Jan 17 | 10:30 min watch).

• River releases a trailer of its newly launched ForceField, a simple solution to protect users' bitcoin from theft, social engineering, and device loss (Jan 15 | 1:03 min watch).

• Swan Bitcoin explores how Bitcoin can prevent a global currency collapse, with insights from Jeff Booth on why Trump may need a Bitcoin reserve (Jan 15 | 9:37 min watch).

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Naiw

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