| Together with | | | | | | Greetings Bitcoiner, | Welcome to Issue #414 of the Bitcoin Breakdown daily newsletter, where you have only 4 days left to claim your Black Friday offer unlocking a ridiculous 80% off all Premium Supporter tiers! | Premium Perks: | OPSEC Feature: Get access to a deep-dive weekly security piece to harden your stack. Quick Media: Exclusive access to the full Quick Media section every Monday and Friday. Saturday Recap: One issue that compiles the entire week’s Bitcoin news.
| Don’t miss it: Grab your 80% discount here. | By upgrading, you level up your Bitcoin journey and fund independent, Bitcoin-only reporting. Thanks for helping push adoption forward - one block at a time. | Now for today’s Top Stories: | 🤠 Texas Buys The Dip And Makes History with First State Bitcoin Treasury 🇪🇸 Spanish Left-Wing Party Eyes 47% Bitcoin Tax in Hostile Crackdown 🧨 Binance Faces Hamas-Linked Lawsuit
| Estimated reading time: 5 min |
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| | | | | | | | TODAY’S TOP STORIES | 🤠 Texas Buys The Dip And Makes History with First State Bitcoin Treasury | Texas just became the first US state to add Bitcoin to its treasury, purchasing $10M worth through BlackRock's spot ETF during a dip to $87K. While officials say direct self-custody is the ultimate goal, the ETF provides a compliant starting point as the state builds its custody infrastructure. This symbolic move could inspire other states to explore Bitcoin reserves and reshape public-sector engagement with Bitcoin. BeInCrypto | 🇪🇸 Spanish Left-Wing Party Eyes 47% Bitcoin Tax in Hostile Crackdown | Spain's Sumar party proposes raising Bitcoin and crypto taxes to 47% from the current 30%, reclassifying digital assets as seizable, and creating a 'risk traffic light' system for investors. Critics call it an 'attack on Bitcoin,' arguing self-custodied assets can't be seized like traditional holdings, warning that the move could trigger an exodus of Bitcoin holders from Spain. The proposal would also require platforms to display cryptocurrency risk ratings. Meanwhile, some Spanish tax inspectors suggest creating a more favorable regime specifically for Bitcoin. Cointelegraph | 🧨 Binance Faces Hamas-Linked Lawsuit | Over 300 American families are suing Binance and co-founder Changpeng Zhao, accusing them of enabling Hamas-related crypto transfers from 2017 to 2023 through weak verification, omnibus wallets, and obfuscated customer locations. The suit alleges Binance knowingly shielded Hamas assets from US oversight via offshore entities with minimal record-keeping. This comes after Binance’s $4.3B settlement and Zhao’s AML guilty plea in 2023, highlighting how Bitcoin’s transparency starkly contrasts with opaque exchange practices fueling such controversies. Atlas21 |
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| | | | | | POLL #414 | Will Texas inspire a chain reaction among other states to add a Bitcoin Treasury? | |  | | PREVIOUS POLL RESULTS | |
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| | | | | | OPSEC FEATURE ARTICLE | | The Zoom Trap Is Real: A Bitcoin-Grade Playbook to Bulletproof Your Video Calls (and Your Keys) | A ‘quick call’ has become one of the highest-ROI attack surfaces in Bitcoin. | The scams look boring on purpose: calendar links, familiar faces, and one tiny request that ‘just helps the meeting work.’ | This week’s OPSEC guide builds a practical, repeatable protocol to keep your devices clean and your sats where they belong. | Get instant access to this special feature by becoming a premium supporter here. | |
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| | | | | | QUICK BITS | Bitcoin miners offload 30,000 BTC worth $2.6B since November 21 as reserves hit record low amid hashprice crash to $34.49 per petahash. JPMorgan Chase offers a structured note allowing investors to earn unlimited returns if BlackRock's $70B Bitcoin ETF declines in 2026 but surges by 2028, with downside protection up to 30%. Metaplanet secures an additional $130M loan against its 30,823 BTC holdings to fund more acquisitions and income-generation strategies despite a $600M unrealized loss. EU may approve Chat Control 2.0 surveillance law today (November 26), compelling messaging services to scan private communications under child protection claims, effectively ending encrypted privacy across Europe without public debate. James Check of Checkonchain argues that Bitcoin's quantum computing threat is primarily a governance challenge rather than a technical problem, as the community is unlikely to reach consensus on freezing legacy coins in vulnerable addresses when quantum attacks become feasible. Kraken, a major US exchange preparing for an IPO, launches the Krak Card Mastercard debit card offering 1% Bitcoin cashback rewards to UK and EU users, with US expansion planned. GrapheneOS, a privacy-focused Android operating system, exits France and bans team travel there, citing unsafe conditions for open source projects amid EU Chat Control proposals and government pressure following French media reports linking the legitimate software to criminal activity. Japan’s Financial Services Agency plans to require exchanges to hold substantial liability reserves to cover losses from hacks, failures, or bankruptcies, mirroring the safeguards for securities firms. South Korea's Financial Intelligence Unit prepares sanctions against major exchanges including Bithumb, Coinone, Korbit and GOPAX following AML compliance inspections. Calvin Ayre, prominent BSV backer, allegedly served as the 'single customer' behind Wirecard's fabricated third-party business network, with hundreds of millions of euros traced through the payment processor's complex shell company system in the 1.9B euro German financial scandal. Strategy pauses its six-week buying streak as shares trade 70% below peak and near cycle-low valuation multiples amid growing concerns about potential exclusion from major equity indexes. Tether increases its stake in video-sharing platform Rumble by purchasing 1M shares worth $5.7M, taking its total holdings to over 104M, which means they own nearly 24% of the company. Bitcoin & crypto holders face heightened physical risk as home invasions spike in Western Europe, with attackers exploiting data breaches and public records to target high-net-worth individuals, highlighting the need for improved operational security and custody practices. European Central Bank warns that stablecoins' $280B market cap threatens eurozone banks by draining retail deposits and risking US Treasury market disruption through potential fire sales of reserve assets. Odds for December Federal Reserve interest rate surges to 81% from below 33% last week.
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