Happy Monday Bitcoiners - it’s Bam with another weekly update!

Each week, we condense the most impactful news releases into a concise, easy-to-read update so you’re always in the know!

Newsworthy events this week include 👇

  • Block hits the streets to push for no cap gains on everyday BTC payments.

  • Abu Dhabi’s sovereign wealth fund triples its BTC bet.

  • Chinese mining chips face sharp new scrutiny from the US government.

Let’s dive in ⚡

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Latest News 📰

🙌 Adoption

  • Pick’n Pay, a South African retail grocery store chain with over 2,200 stores, is reportedly processing about $80,000 per month in Bitcoin Lightning payments, with usage up approximately 44 % since March.

  • Rumble has begun testing Rumble Wallet for Android users, now supporting Bitcoin, USDT, and XAUT. The goal is a simple, gas-free experience that enables native Bitcoin tipping for creators and streamers.

  • Block launches a public push for a de minimis tax exemption on everyday bitcoin payments, giving out free coffee in D.C. and launching a site to help people email their representatives in support.

⚖️ Legal

  • Kent Halliburton, CEO of Sazmining, says he was scammed out of about $220,000 in Bitcoin this summer in a sophisticated confidence scheme that passed every due diligence check until the funds vanished.

  • Brink sponsors the first public third-party security audit of Bitcoin Core by Quarkslab, which found no critical, high, or medium issues and only minor low-severity and informational recommendations.

  • Rep. Warren Davidson introduces the Bitcoin for America Act, codifying the SBR exec. order, allowing federal taxes to be paid in BTC without cap. gains, and requiring federal bitcoin holdings be kept for 20 years.

📈 Markets

  • Abu Dhabi Investment Council has more than tripled its stake in BlackRock’s iShares Bitcoin Trust, lifting its position to nearly 8 million shares worth about $518 million as of September.

  • IBIT posts a record $523 million single-day outflow on Tuesday and about $3.3 billion in outflows this month, roughly 3.5% of AUM, despite year-to-date inflows still exceeding an “astronomical” $25 billion.

  • Empery Digital’s CEO is questioning whether JPMorgan is trying to force MSTR’s price lower via a coordinated attack after the bank raised its margin requirement on the stock from 50% to 95%.

🏦 Treasury

  • Saylor pushes back on MSCI index delisting concerns, saying Strategy is an operating software company using BTC as productive capital, not a passive vehicle, and that no fund could replicate its model.

  • Metaplanet is raising $150 million through its new Mercury preferred share offering with a 4.9% dividend and 1:1 ÂĽ1,000 conversion, enabling non-dilutive capital raising at a premium.

  • Fidelity research shows nearly every major treasury company has paused Bitcoin purchases in Q4, leaving Strategy as the only consistent corporate buyer and helping explain the recent weakness in BTC price.

⛏️ Mining

  • Bitmain is under a U.S. national security probe after agents found its rigs operating near military and energy sites, triggering chip-level inspections for hidden remote access and raising the risk of import restrictions.

  • Bitcoin hashprice has fallen to its lowest level in a decade, as record mining difficulty and an all-time high network hashrate collide with minimal transaction fees, sharply compressing miner revenue.

  • A solo miner running a Bitaxe Gamma appears to have solved the 308th solo block on ckpool, earning 3.08349744 BTC, roughly a 1-in-180-million chance per block, or about 1-in-1.2-million per day.

🗳️ Politics

  • El Salvador accumulates an additional 1,098 Bitcoin, bringing its total holdings to 7,474 BTC, despite IMF loan restrictions tied to the country’s Bitcoin policies.

  • New Hampshire approves the first Bitcoin-backed municipal bond, a $100M issue collateralized with BTC at 160% with automatic liquidation near 130%, sending gains to the state’s BTC Economic Dev. Fund.

  • Treasury Secretary Scott Bessent was spotted at the opening of Pubkey’s second location in Washington, DC, the city’s new outpost of America’s premier Bitcoin bar.

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