Author: Monicah W

As the debate over Trump’s Big Beautiful Bill reaches a fever pitch, Senator Cynthia Lummis is attempting to add an amendment to reduce taxes on crypto miners. The White House reportedly supports her efforts.

However, these last-minute amendments work both ways. Anti-crypto and anti-renewable modifications may actually hurt crypto miners, and it’s impossible to say what will become law.

Trump’s Big Beautiful Bill and Crypto Implications

It’s a tough time for crypto miners, with firms exiting the business and geopolitical disruptions bringing the global hashrate to an 8-month low.

Additionally, Senator Cynthia Lummis identified some apparent inconsistencies in these firms’ tax obligations. Aiming to fix this, Lummis is working to add some last-minute amendments to Trump’s Big Beautiful Bill:

For years, miners and stakers have been taxed TWICE. Once when they receive block rewards, and again when they sell it.

It’s time to stop this unfair tax treatment and ensure America is the world’s Bitcoin and Crypto Superpower.

— Senator Cynthia Lummis (@SenLummis) June 30, 2025

The Big Beautiful Bill is a controversial budget reconciliation effort that’s growing to cover a huge range of topics. It passed the House of Representatives, and the Senate is in a flurry of activity to deliver on a workable version.

Amendments and backroom deals are going back and forth around the clock, leaving Lummis an opportunity to squeeze in mining tax reform.

Congressional reporters claimed that the White House supports Lummis’ effort, especially since she’s a firm Trump ally.

Strictly speaking, her proposed reform seems fairly straightforward: remove one tax on US miners, either when they receive block rewards or sell them. The Big Beautiful Bill might be her best chance to pass them quickly.

However, the Big Beautiful Bill is becoming a convoluted mess. As the name suggests, it covers a huge range of topics, including tax policy, social issues, AI regulations, and more.

Prominent crypto advocates like Elon Musk staunchly oppose it, for one thing. Much like Lummis, several anti-crypto Senators are hoping to pass their own amendments at the last minute.

In other words, Senator Lummis can’t make the bill uniformly pro-crypto with a single amendment. Furthermore, even if Trump supports her effort, he has many other priorities.

For example, White House Press Secretary Karoline Leavitt discussed the Big Beautiful Bill in a press conference today, relaying Trump’s message that he is dissatisfied with Jerome Powell as Fed Chair.

This is just one of the many fights that may take the President’s attention away from mining tax reform.

All that is to say, it’s currently more or less impossible to say whether Lummis’ tax cuts will survive the negotiations. Indeed, the Big Beautiful Bill might even hurt crypto miners, depending on the successful amendments.

One proposal would de-incentivize green energy, which the mining industry relies on.

The post Lummis Proposes Tax Cuts for Crypto Miners in Trump’s Big Beautiful Bill appeared first on BeInCrypto.

A new variation on crypto crime has occurred as three victims were robbed in a mall parking lot in Bangkok. They were preparing to exchange $100,000 in crypto assets when five assailants attacked them.

The criminals may have been involved in setting up the crypto deal, as happened in a similar incident in Phuket last November. Thai authorities are searching for the perpetrators.

Bangkok Crypto Deal Goes South

Crypto crimes are at an epidemic level right now, and that can manifest in some extremely bizarre ways. This recent story from Bangkok is a prime example, as crypto was never directly involved.

Instead, the victims pooled together 3.4 million baht (worth about $100,000) to do an in-person transaction, which evidently went south:

Police hunt 5 robbers after ฿3.4m crypto deal turns violent in Bangkok mall car park

In a shocking incident at Central Plaza Ladprao, thieves stole ฿3.4m during a planned cryptocurrency transaction, escaping in a Honda car. pic.twitter.com/PyLNKlnsk3

— Bangkok Lad (@bangkoklad) June 30, 2025

Unfortunately, there is a severe lack of other relevant details. Local authorities are looking for the attackers and have plenty of information about the getaway car. However, it may have been stolen before the theft took place.

Further, because this Bangkok theft didn’t involve crypto, there’s no way to monitor blockchain data. The perpetrators only need to launder a bag of cash, which might be incredibly easy.

Thailand has been home to another recent crypto theft, although this one took place far away from Bangkok. In November 2024, a Ukrainian national was robbed in Phuket, an island near the southernmost tip of the country.

Four men kidnapped and extorted him, demanding 250,000 in USDT. After they left, the victim escaped and informed the police.

One of these four robbers was a past associate of the victim, having previously bought USDT from him on several occasions. Hopefully, this 2024 incident may also provide a critical link to today’s Bangkok crypto theft.

Specifically, it seems very possible that the alleged crypto vendors and the robbers are in league or even the exact same people.

Crypto ATMs are not widespread in Thailand, so these Bangkok men needed some other intermediary to exchange cash for tokens.

Whoever offered to make the trade would, therefore, have more than enough information to stage a robbery. This theory seems more likely than the assailants randomly encountering men carrying a sack full of cash in public.

More Recent Crypto Crime Stories

BeInCrypto has been hard at work covering this crypto crime wave, including violent and nonviolent incidents:

• France’s crypto kidnapping spree continues in June, shocking the nation. Police arrested several ringleaders in Morocco this month, hoping for an end to the attacks, but remaining operatives or copycats continue the horrific attacks.
• North Korean hackers attack both sides of the hiring process, targeting crypto industry job seekers and posing as fake candidates. Pepe creator Matt Furie lost over $300,000 after hiring a hacker for an IT role, and Favrr lost $680,000 after appointing a North Korean infiltrator as its CTO.
• Shockingly, low-quality crimes are seeing a lot of success in the US thanks to social engineering. Multiple criminals defrauded users out of millions, yet proved incredibly easy for law enforcement to track. One thief stole $4 million and lost almost all of it to a gambling addiction.
• Despite all these crimes, authorities are on the hunt, as cooperation from 15 separate nations brought down an international fraud ring. The group stole $540 million from victims around the globe.

The post Armed Robbers Steal $100,000 in a Mall Parking Lot | Crypto Horror Story appeared first on BeInCrypto.

Meme coins had a mixed month, with some seeing massive gains while others dropped to all-time lows. However, Useless Coin stood out, owing to its impressive gains and maintaining stability. 

BeInCrypto has identified two other meme coins worth watching in July, as they show strong signs of potential growth.

Useless (USELESS)

USELESS led the meme coin market in June with an explosive 1,635% rise, setting new all-time highs nearly every day. The altcoin reached its latest ATH today at $0.209. This growth showcases impressive momentum, and investors are watching closely for further upward movement.

Despite the massive rise, USELESS has shown no signs of exhaustion or selling pressure. The Parabolic SAR indicator below the candlesticks suggests that the uptrend is likely to continue. As the Solana-based meme coin gains popularity, it could push toward $0.450 over the next month, further boosting investor interest.

However, as with all meme coins, unexpected selling from holders could reverse the trend. If investors decide to cash out, USELESS might fall to the support level of $0.066. Such a drop would invalidate the bullish outlook and erase the gains made.

Pudgy Penguins (PENGU)

PENGU had a rocky start to June but has gained significant traction over the past week. The meme coin rose by 62.6%, reaching $0.0137, marking a two-month high. This recent surge shows the altcoin’s ability to rebound despite earlier struggles, drawing attention from investors.

A major advantage for PENGU is its strong correlation of 0.70 with Bitcoin. As Bitcoin continues its upward momentum and forms new all-time highs, PENGU is expected to benefit from this trend. With Bitcoin’s strength, PENGU could breach the $0.0151 resistance level and potentially reach $0.0180 in the coming days.

However, PENGU’s price is influenced by its large holders, with over 47.72% of holders owning more than $10 worth of PENGU. These investors could significantly impact the price if they decide to sell. If profit-taking becomes widespread, PENGU may fall back below $0.0129, potentially reaching the support level of $0.0100.

Pepe (PEPE)

PEPE has faced a 15% drop since the beginning of June, making it one of the worst-performing meme coins this month. However, Jon “Jagged” Eyrick, Core Member of Pepe’s Dog (ZEUS), speaking to BeInCrypto, suggests that Ethereum-based meme coins like PEPE could experience a rise in July, which may help boost their price.

“Meme coins on ETH are gaining more attention due to the increased ETF inflows which ETH is seeing compared to BTC… Additionally, ETH still holds the second largest market cap in crypto and DeFi is the backbone of its infrastructure, so there is a solid case to expect strong price performance. Based on this, liquidity would flow naturally into the biggest projects on Ethereum, including well known memes such as $PEPE and those that focus on authenticity and transparency,” Eyrick noted.

The MACD indicator shows the first bullish crossover of the month, signaling a potential shift in momentum for PEPE. This could help the coin recover from recent losses and push toward the $0.00001216 resistance level. A rise past this point would indicate further upward movement in the coming weeks.

However, if the bullish momentum fails to materialize, PEPE could experience further declines. If the altcoin falls through $0.00000917 and $0.00000839, the bearish trend may continue. In this case, the bullish outlook will be invalidated, and PEPE’s price could remain under pressure.

The post 3 Meme Coins To Watch in July 2025 appeared first on BeInCrypto.

Ric Edelman, a prominent financial advisor, claims that institutional clients should invest between 10% and 40% of their portfolios into crypto. His firm manages $300 billion, making this a very influential statement.

Some have questioned corporations’ BTC acquisitions, claiming that they represent a bubble. Edelman’s strong endorsement could outweigh these concerns and keep fresh capital moving into Web3.

Edelman Advises Crypto Investment

Traditional finance and the crypto industry have had a rocky relationship over the years, but it’s improving. Corporations worldwide are following MicroStrategy’s playbook, buying Bitcoin and other assets in droves.

Today, prominent ETF analysts noted that one of TradFi’s biggest advisors is advocating heavily for crypto investment:

.@ricedelman, who founded $300bil investment advisory firm Edelman Financial Engines…

Recommends *40%* crypto allocation for aggressive investors.

10% for conservative.

Says owning crypto is no longer a speculative position; failing to do so is.

Look at these takeaways. pic.twitter.com/OB5N5c6cAQ

— Nate Geraci (@NateGeraci) June 30, 2025

Edelman’s recommendations shocked many casual observers. He essentially claimed that crypto has been too valuable for clients to ignore and that fund managers have a fiduciary responsibility to invest in it.

Since when is a 10% crypto allocation considered a “conservative” position, especially for hedge funds?

Still, many crypto-native readers may wonder what Ric Edelman’s relevance actually is. Eric Balchunas, another prominent ETF analyst, was apparently floored, comparing Edelman’s message to BlackRock’s famous turn toward crypto:

“Holy smokes. This is the arguably the most important full-throated endorsement of crypto from TradFi world since Larry Fink. This guy is Mr. RIA (Registered Investment Advisor). He manages $300 billion for 1.3 million clients and tops the Barron’s list of Top Financial Advisors regularly,” he claimed.

This is extremely high praise. BlackRock wasn’t pro-crypto for years, but its Bitcoin ETF became one of its best-performing products. So, it’s not new that major financial advocates have changed their stance towards digital assets.

Meanwhile, Edelman’s fund manages $300 billion. So, could he realistically direct 25% or more to funnel into Bitcoin investment? If he commits to this strategy wholeheartedly, how many competitors could follow it?

If nothing else, the markets are already primed for a surge of crypto investment. Crypto stocks are outperforming most altcoins, significantly impacting the DeFi ecosystem.

Skeptical voices are also growing in number, so a top-level sign of faith could keep the momentum steady.

However, this momentum might not apply to altcoins. Balchunas claimed that Edelman was trying to present a simplified message by discussing crypto investment rather than Bitcoin specifically.

Objectively speaking, Bitcoin represents the vast majority of corporate purchases. Nearly 90% of fund investments are in BTC, and it’s liable to remain the preferred asset for now.

The post Financial Advisors Are Calling Institutions to Allocate 40% in Crypto Investments appeared first on BeInCrypto.

Last week, the PI token attempted a bullish breakout, breaking above a descending parallel channel that had capped its price for several weeks. 

However, the rally was short-lived. PI failed to hold onto its gains and quickly retraced, signaling what now appears to be a textbook dead cat bounce.

PI Faces Heavy Sell Pressure 

A dead cat bounce is a temporary, short-lived recovery in the price of an asset in a prolonged downtrend. It tricks traders into thinking a reversal is underway, only for the price to resume falling to new lows quickly. 

PI’s breakout looked like the start of a recovery following several weeks of decline. However, the failure to sustain the rally and the drop that followed confirms it was a dead cat bounce, with bearish momentum now threatening to push PI toward its all-time low.

Readings from the PI/USD one-day chart show its Balance of Power (BoP) at -0.84, indicating that sell-side pressure remains significant.

The BoP indicator measures the strength of buyers versus sellers in the market, helping to identify momentum shifts. When its value is positive, buyers dominate the market over sellers and drive newer price gains. 

Conversely, negative BoP readings signal that sellers dominate the market, with little to no buyer resistance. This confirms the sustained downward pressure and weakening investor confidence.

The negative BoP readings for PI reinforce the bearish outlook, suggesting that selling activity could continue unless new demand resurfaces.

Furthermore, PI’s Moving Average Convergence Divergence (MACD) indicator confirms the bearish bias against the altcoin.  At press time, PI’s MACD line (blue) rests below the signal line (orange).

The MACD indicator identifies trends and momentum in its price movement. It helps traders spot potential buy or sell signals through crossovers between the MACD and signal lines.

As with PI, when the MACD line rests below the signal line, it indicates bullish momentum, suggesting waning buying activity. Traders see this setup as a sell signal. Hence, it could exacerbate the downward pressure on PI’s price.

Traders Eye $0.40 Support as PI Struggles to Hold Ground

If the downward pressure persists, PI could slide even further, deepening losses for holders who bought into last week’s breakout. In this scenario, the altcoin’s value could revisit its all-time low of $0.40.

Conversely, if market sentiment shifts and buying activity spikes, PI Network’s price could rally to $0.66. 

The post Why PI’s Breakout Wasn’t What It Seemed: Network Nears All-Time Low appeared first on BeInCrypto.

USDC stablecoin issuer Circle just applied to become a US national trust bank. But the bigger story isn’t banking—it’s stablecoin dominance. 

As Congress moves to regulate stablecoins with the GENIUS Act, Circle’s move could signal a coming power shift from USDT to USDC in the US market.

Circle’s Trust Bank Could Change the Stablecoin Market

If approved by the OCC, Circle’s new entity—First National Digital Currency Bank—would allow the company to custody its own reserves. 

Also, it would be permitted to hold digital assets like tokenized bonds and stocks on behalf of institutional clients.

However, the trust bank license will not allow Circle to take deposits or issue loans.

Today, we announced an important and significant milestone in our journey towards building the internet financial system with our official OCC National Trust Bank charter application for First National Digital Currency Bank, N.A.
https://t.co/Zx4bWGy388

— Jeremy Allaire – jda.eth / jdallaire.sol (@jerallaire) June 30, 2025

This marks a strategic regulatory step following Circle’s IPO earlier this month, which valued the company at nearly $18 billion. 

More importantly, it signals Circle’s intent to align with forthcoming US stablecoin regulation.

Tether’s USDT still dominates the global stablecoin market, with a 62.5% share. Much of that usage occurs outside US borders, especially across Asia. 

USDT’s popularity comes from its liquidity and deep exchange integrations. But in the US, the regulatory space is shifting.

Congress is preparing to pass the GENIUS Act into law. This landmark stablecoin bill requires issuers to hold fully backed reserves and obtain federal licenses. 

Once passed, only licensed firms like National Trust Banks would be allowed to issue stablecoins at scale. This gives Circle a first-mover advantage.

Tether’s USDT Still Dominates—But for How Long?

By becoming a national trust bank, Circle positions USDC as a fully compliant, US-regulated stablecoin. 

It would likely become the preferred choice for banks, fintechs, and regulated institutions looking to integrate stablecoins.

Meanwhile, Tether operates under an El Salvador registration and is not regulated under US federal frameworks. 

That gap could become more problematic if US exchanges are required to delist or restrict access to unlicensed stablecoins.

Circle’s strategy goes beyond regulation. It aims to control more of its infrastructure by directly managing USDC reserves, rather than relying on custodians like BNY Mellon. 

The trust license would also allow Circle to serve institutional clients seeking to custody tokenized stocks and bonds—not just crypto.

This positions Circle to lead in the next phase of stablecoin adoption, as tokenized assets and real-world applications grow.

For everyday users, this could mean broader USDC integration in wallets, payment apps, and financial services. As regulation tightens, US-based platforms may shift preference from USDT to USDC. 

To sum it up, USDC could:

• Be used more in tokenized finance (real estate, stocks).
• See better integration with banking apps and neobanks.
• Offer stronger consumer protections under US law.

Tether still holds global dominance. But Circle’s trust bank application could shift the balance within US markets. 

In the coming months, the US may have to choose between offshore liquidity and onshore compliance. Circle just made its move.

The post What Circle’s US Trust Bank Bid Means for USDT and Stablecoin Competition appeared first on BeInCrypto.