An alternative draft tied to bill PL4501/2024, introduced within the Economic Development Commission of Brazil’s Chamber of Deputies, proposes the creation of a “National Strategic Bitcoin Reserve” (RESBit). If adopted, the initiative could mark one of the most ambitious state-level Bitcoin accumulation strategies to date.

A Five-Year Plan to Accumulate 1 Million Bitcoin

Under the proposal, the Brazilian government would gradually accumulate at least 1 million BTC over a five-year period. The rationale behind the plan centers on strengthening financial resilience, diversifying national reserves, and enhancing Brazil’s competitiveness in the evolving digital asset economy.

The envisioned RESBit structure would position Bitcoin as either an alternative or complementary asset to traditional reserves such as foreign currencies and gold. In this framework, Bitcoin would move beyond its role as a speculative investment and be formally recognized as a strategic reserve instrument at the state level.

Beyond Reserves: Expanding the Bitcoin Ecosystem

The draft proposal extends well beyond reserve accumulation. It outlines broader measures aimed at fostering a supportive digital asset environment across the country.

Key elements include:

• Allowing taxes to be paid using Bitcoin.

• Granting income tax exemptions on capital gains derived from digital assets.

• Legally safeguarding individuals’ rights to self-custody and freely transfer their digital holdings.

Collectively, these measures would strengthen digital property rights and promote greater financial autonomy for citizens, while encouraging wider adoption of crypto assets.

A Turning Point for Latin America?

If Brazil ultimately implements a strategic Bitcoin reserve of this scale, it could usher in a new phase of state-level crypto adoption across Latin America. Such a move would likely intensify global discussions around the role of digital assets in sovereign reserve management.

For now, the proposal remains under committee review. To become law, it must pass approval processes in both the Chamber of Deputies and the Senate. Regardless of the outcome, the initiative highlights how digital assets are increasingly entering mainstream policy debates at the highest levels of government.

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Timing is critical. The sale occurred shortly after President Donald Trump’s executive order directed that seized Bitcoin be added to the U.S. Strategic Bitcoin Reserve. This move has created both political and structural risk concerns.

Sale Conflicts With Executive Order

The U.S. Marshals Service (USMS) sold 57.55 BTC, valued at roughly $6.3 million, under DOJ instructions. These coins came from Samourai Wallet founders Keonne Rodriguez and William Lonergan Hill as part of their plea agreements.

Senator Lummis sees the sale as a principle issue. She argues that the executive branch has ignored its own framework. Lummis commented:

“We can’t squander these strategic assets while other nations accumulate Bitcoin. This report deeply concerns me.”

She claims the action may violate Executive Order 14233, which requires Bitcoin obtained through forfeiture to be held in the Strategic Reserve rather than sold.

On-Chain Data Supports the Sale

The most revealing evidence comes from blockchain activity. According to Arkham data, on November 3, 2025, approximately $6.36 million in Bitcoin moved from Rodriguez and Hill’s addresses to the USMS wallet 3Lz5U.

The Bitcoin was then transferred to Coinbase Prime Deposit (1AaFQ), linked to Coinbase Prime. The address now shows a zero balance, indicating the assets were likely sold.

While technically a transfer, this movement is the key point in the strategic reserve debate.

White House Review Underway

The issue extends beyond Congress. Patrick Witt, Executive Director of the President’s Council of Advisors for Digital Assets, confirmed that the Trump administration is investigating the possible violation. This raises questions about whether the DOJ has conducted similar sales elsewhere.

Lummis warns the risk is broader. Some countries, notably China, hold seized Bitcoin rather than selling it. She argues that the U.S. risks losing strategic ground in this global race.

Why It Matters

This event shows Bitcoin still lacks a clear role in the U.S. The debate is not only legal but also about institutional consistency. Selling assets while a presidential order is active undermines the Strategic Reserve message.

Uncertainty remains. How the review unfolds will influence both Bitcoin pricing and U.S. digital asset policy in the months ahead.

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What is SharpLink Gaming?

SharpLink Gaming is a U.S.-based online performance marketing company. It serves as a trusted marketing partner for leading sports betting and online casino operators worldwide. Through its iGaming affiliate marketing network, PAS.net, SharpLink drives qualified traffic, player acquisition, retention, and conversions for U.S.-regulated and global iGaming operators. Additionally, it manages a portfolio of state-specific affiliate marketing websites designed to attract and direct local sports betting and online casino traffic to licensed operators in each respective state.

The company is listed on Nasdaq under the ticker SBET. As of 2025, it stands out as one of the first Nasdaq-listed companies to adopt an ETH treasury reserve strategy. This policy provides investors with exposure to ETH while advocating for its role as digital capital. SharpLink combines traditional betting marketing with blockchain, showcasing an innovative approach.

SharpLink Gaming’s Purpose

SharpLink Gaming aims to connect sports fans, leagues, and sports websites with licensed online sports betting operators. Using its AI-powered C4 Sports Betting Conversion Platform, it analyzes user behavior to deliver personalized betting offers, enabling fans to enjoy tailored experiences based on their favorite sports, teams, and players. With its ETH treasury strategy, it focuses on the crypto and blockchain-based gaming sector; for instance, it acquired a 10% stake in the UK-based blockchain gaming platform CryptoCasino.com for $500,000.

How SharpLink Gaming Works

SharpLink Gaming leverages its C4 platform with artificial intelligence and behavioral modeling technologies to analyze users’ sports preferences and betting habits, creating personalized offers. The process includes the following steps:

• Data Collection and Analysis: Gathers users’ sports-related behaviors (watched games, followed teams).

• Personalization: AI generates tailored betting suggestions for each user.

• Conversion-Driven Marketing: Bridges sports media, leagues, and operators to provide high-quality traffic.

• Performance Tracking: Optimizes customer acquisition and retention rates.

SharpLink Gaming Use Cases

SharpLink’s technology offers broad applications in the sports betting and casino industry:

• Sports Media and Websites: Platforms like ESPN direct users to betting operators.

• Sports Leagues and Organizations: NFL, NBA, and similar leagues enhance fan experiences.

• Licensed Betting Operators: Operators like Bet365 and DraftKings attract more customers.

• Crypto Betting Platforms: Blockchain-based platforms like CryptoCasino.com integrate crypto betting.

• Mobile Apps and Digital Platforms: Ensures seamless betting experiences for fans.

Its ETH investments bridge traditional finance and DeFi, providing investors with exposure to ETH.

SharpLink Gaming Team

The SharpLink Gaming team consists of experienced leaders:

• Joseph Lubin: Chairman of the Board.

• Barry Carpe: Vice President, Product.

• Joseph Chalom: Co-Chief Executive Officer.

• Dodi Handy: Vice President, Corporate Communications.

• Rob Phythian: Co-Founder, Co-CEO, and Board Member.

• Leslie Bernhard: Board Member.

• Robert DeLucia: Chief Financial Officer.

• Obie McKenzie: Board Member.

• Tori Roberts: Vice President, Marketing.

• Robert Gutkowski: Board Member.

Current SharpLink Gaming Ethereum Reserve

In its ETH treasury reserve, SharpLink acquired 10,000 ETH in 2025 through a $425 million private capital raise, holding a total of 837,230 ETH (with +95,541 ETH in the last 30 days). It ranks second after BitMine, with a total cost of $3.017 billion and a current value of $3.495 billion (0.694% of total ETH supply).

Official Links

• Website
• X (Twitter)

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The Bitcoin Act envisions the U.S. government purchasing one million Bitcoins over the next five years. These acquisitions would be budget-neutral, financed by the Federal Reserve and the Treasury Department. The bill, led by Senator Cynthia Lummis, also aims to make Trump’s limited presidential reserve permanent and Congress-approved. 

Roundtable and Participants 

The meeting on Tuesday will include Strategy founder Michael Saylor, BitMine CEO Tom Lee, and Marathon Digital CEO Fred Thiel. Executives from mining companies such as CleanSpark, MARA, and Bitdeer will also participate. Representatives from crypto venture capital firms and investment platforms will share their insights. 

Participants will discuss how to execute budget-neutral Bitcoin purchases and strategies to secure legislative support. Treasury gold certificates and tariff revenue reuse are among the proposed methods. 

Strategic Reserve and Legislative Process 

Proposals from the meeting aim to plan Bitcoin purchases at 200,000 BTC per year over five years. The bill is expected to first go through the House Financial Services Committee, then the Senate Banking Committee, before a full vote. Washington-based lobbying groups like The Digital Chamber will also attend. The goal is to strengthen the Strategic Bitcoin Reserve without burdening U.S. taxpayers and secure bipartisan support. 

Key Points of the Bitcoin Act: 

• Acquisition of one million Bitcoins as a strategic reserve 
• Annual purchases of 200,000 BTC over five years 
• Budget-neutral financing without taxpayer burden 

The bill is currently at the committee level, with further work ongoing to pass it through Congress. Experts say Lummis and her team will prioritize securing bipartisan support. 

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Bessent initially stated the U.S. would not make further Bitcoin purchases for its Strategic Reserve. Shortly after, he revised his remarks, creating market uncertainty. This caused a sudden wave of sell-offs. Coinglass data shows long positions suffered the most losses during this period. 

Ethereum and Bitcoin Lead Crypto Liquidations 

Ethereum’s liquidation dominance drew significant attention. Analysts link the losses to ETH’s recent surge toward all-time highs. Bitcoin briefly surpassed $124,000 before dropping below $120,000. Solana and XRP also recorded notable liquidations. This highlights the market’s sensitivity to government announcements. 

Bessent’s Strategic Reserve Remarks Impact Markets 

Bessent confirmed the government will halt all BTC sales and explore budget-neutral ways to expand the reserve. This marks a shift from prior administrations’ policies. Moreover, it aligns with the 2025 Strategic Bitcoin Reserve initiative launched under President Trump. Bessent also referenced broader asset management, including gold reserves. The U.S. holds 261.5 million ounces of gold, valued at $42.22 per ounce under the 1973 standard. 

These updates may ease medium-term supply pressure on BTC. However, large intraday liquidations increased short-term volatility. The crypto market remains highly responsive to top-level government decisions. 

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BitMine’s Massive ETH Position

As part of its public purchases, BitMine Immersion acquired an additional 317,126 ETH, valued at approximately $1.32 billion. With this, BitMine’s total Ethereum holdings reached 1.2 million ETH, representing a massive accumulation worth nearly $5 billion.

What Does Bitmine Buying Mean for the Market?

Following BitMine, SharpLink holds the second-largest position with around 598,800 ETH, worth roughly $2.5 billion. These large-scale acquisitions provide strong support for market liquidity and are seen as positive signals for Ethereum prices. The increasing interest of institutional investors in Ethereum suggests strong market confidence and optimistic future expectations.

Overall, the rapid accumulation of Ethereum by companies in what appears to be a panic buying phase is creating notable momentum in the digital asset market, with expected positive effects on Ethereum’s price movement.

This content does not constitute investment advice. Markets carry high risks, and it is important to conduct your own research before making any investment decisions.

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Bilateral Talks on Digital Assets Held in Washington

Bilal Bin Saqib, Pakistan’s Minister of State for Crypto and Blockchain, met with Robert “Bo” Hines, executive director of Trump’s Council on Digital Assets. According to a report by 24NewsHD, the two discussed broad collaboration across Bitcoin, decentralized finance, and cross-border innovation.

Following the meeting, Saqib emphasized:

“It is my mission to position Pakistan as a global leader in digital assets. We’re establishing a Bitcoin reserve and building infrastructure for AI data zones and crypto mining.”

The Trump administration, through Hines and Council Chair David Sacks, has previously expressed strong interest in ensuring the U.S. leads globally in digital asset innovation.

Pakistan Eyes Bitcoin Mining With 2,000 Megawatts of Surplus Power

Beyond creating a reserve, Pakistan is also aiming to convert 2,000 megawatts of surplus electricity into Bitcoin mining and AI-focused infrastructure. The plan is designed to turn underused national resources into digital productivity while boosting employment and modernization.

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The country is also building a regulatory framework. On May 21, Pakistan’s Finance Ministry approved the creation of the Pakistan Digital Assets Authority (PDAA), a new body set to regulate exchanges, custodians, wallets, stablecoins, and DeFi protocols.

IMF Flags Concerns Over Energy Use Amid Economic Strains

However, not everyone is convinced. On May 31, the International Monetary Fund (IMF) raised concerns about the legality and viability of allocating so much energy to crypto mining during an ongoing financial assistance negotiation.

The IMF asked Pakistan’s Finance Ministry to clarify the legal grounds and energy impact of the initiative, especially as the nation battles chronic power shortages and economic instability.

Whether Pakistan can strike a balance between digital innovation and fiscal responsibility remains a critical question in the coming months.

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American Bitcoin and Gryphon Unite Under One Roof

In a significant crypto industry move, Gryphon Digital Mining is merging with American Bitcoin via a stock-for-stock transaction. The resulting entity will operate under the American Bitcoin name and feature Eric Trump on its board of directors. His involvement adds a political layer to this already monumental business event.

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Following the merger announcement, Gryphon’s stock skyrocketed. The share price jumped from $0.52 on May 9 to $2.15 by May 12—an increase of over 313%.

IPO Strategy Highlights Independence and Expansion

American Bitcoin is majority-owned by energy and data center company Hut 8. According to CEO Asher Genoot, taking the company public is a strategic move to boost Bitcoin accumulation capacity while securing growth capital independently of Hut 8’s balance sheet. The company also aims to generate stable revenue through long-term infrastructure agreements.

After the merger, about 98% of the new company will be owned by existing American Bitcoin shareholders—indicating strong control from Trump-backed investors.

At The Crossroads Of Finance And Politics

Founded in late March with support from Donald Trump Jr. and Eric Trump, American Bitcoin acquired Hut 8’s mining hardware and aims to become the world’s largest and most efficient pure-play Bitcoin miner. By building strategic reserves, the company seeks a dominant position in the crypto market—not just economically, but politically.

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According to European digital asset firm CoinShares, global crypto exchange-traded products (ETPs) attracted $6.3 billion over the past four weeks, making up 93% of total year-to-date (YTD) inflows.

So far this year, total inflows have reached $6.7 billion, inching closer to the all-time record of $7.3 billion set in early February.

Bitcoin Dominates With $867M In Weekly Inflows

Last week, Bitcoin investment products led the surge with $867 million in inflows, pushing BTC‘s YTD total to $6.6 billion and lifting its assets under management (AUM) to $146 billion.

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As a result, total global crypto AUM rose to $169 billion, now just 2.5% below the record $173.3 billion recorded at the end of January.

Still, the latest weekly inflow figure of $882 million marked a slowdown compared to $2 billion and $3.4 billion in the previous two weeks.

BlackRock Leads the Pack, Grayscale Lags Behind

In the US, crypto ETFs continued to break new ground. BlackRock’s iShares products attracted a staggering $1 billion in inflows last week alone.

With $8.1 billion in YTD inflows, BlackRock has outpaced the entire industry total, while Grayscale and Bitwise saw weekly outflows of $168 million and $27 million, respectively.

Meanwhile, Fidelity and ARK Invest reversed their previous trends with $62 million and $46 million in new capital, respectively.

Bullish Trend Driven by Macro Factors

CoinShares’ head of research James Butterfill pointed to several key drivers for the bullish sentiment: a global rise in M2 money supply, stagflation risks in the US, and multiple US states recognizing Bitcoin as a strategic reserve asset.

The total crypto market cap currently stands at $3.5 trillion, just 11% below the record $3.9 trillion hit in December 2024.

At the time of writing, Bitcoin was trading at $104,407, slightly below its all-time high above $106,000 posted in mid-December.

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Senator and Bitcoin supporter Wendy Rogers, who co-sponsored the bill, reacted strongly: “Bitcoin doesn’t need Arizona. Arizona needs Bitcoin.” The proposal aimed to use seized funds to invest in Bitcoin and create a state-managed crypto reserve.

Crypto Advocates Say Politicians Don’t Understand The Future

Casa co-founder Jameson Lopp responded by saying, “This will age poorly.” Bitcoin advocate Anthony Pompliano commented, “Imagine the ignorance of a politician thinking they can make investment decisions.”

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Attorney Andrew Gordon added, “We need more elected officials who understand that Bitcoin and crypto are the future.” Rogers emphasized that Arizona’s retirement fund already holds MicroStrategy (MSTR) shares, which she described as “basically a leveraged Bitcoin ETF.” The stock rose 32% in April, marking its best performance since November 2024.

Rogers confirmed she would reintroduce the bill in the next legislative session, saying, “Arizona’s Strategic Bitcoin Reserve bill will be back. HODL.”

More States Struggle With Crypto Legislation

Had it passed, Arizona would have become the first U.S. state to create a Bitcoin Strategic Reserve. Instead, it joins other states like Oklahoma, Montana, South Dakota, and Wyoming, where similar efforts have stalled or failed.

Prominent crypto critic Peter Schiff supported Hobbs, stating, “Governments shouldn’t use public funds to speculate on cryptocurrencies.”

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