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- 1/12/25: Sen. Lummis Is All-In On Bitcoin 🇺🇸🏛️🧙♂️
1/12/25: Sen. Lummis Is All-In On Bitcoin 🇺🇸🏛️🧙♂️

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Top News
Sen. Lummis reintroduces the BITCOIN Act in the Senate
House votes to repeal IRS crypto tax rule, sending it to Trump
Taproot Wizards announce mint details targeting $35M in total sales

Specs’ Insights
1. Sen. Lummis reintroduces the BITCOIN Act in the Senate
I am for real this time.
— Senator Cynthia Lummis (@SenLummis)
12:23 PM • Mar 11, 2025
⌐◪-◪ → The BITCOIN Act is back
Senator Cynthia Lummis just reintroduced the BITCOIN Act, reaffirming the U.S. plan to acquire 1 million BTC over five years with a 20-year minimum hold.
For context, the bill was originally introduced in July 2024, directing the government to buy 200K BTC annually over five years. The reintroduced version stays largely the same, but adds a formal process for handling Bitcoin forked assets and airdrops, ensuring that only the most valuable assets (by market cap) are retained after a five-year period.
The bill also has new co-sponsors, including Jim Justice (R-WV), Tommy Tuberville (R-AL), Roger Marshall (R-KS), Marsha Blackburn (R-TN), and Bernie Moreno (R-OH), signaling growing political support.
Oh, and Michael Saylor’s presentation at the event is already being called one of the best presentations on Bitcoin ever.
Zooming out — there aren’t any major changes here. Seems like they are just resetting the stage to build momentum and ensure everything is in alignment with Trump’s recent executive order to create a Strategic Bitcoin Reserve. So while there were some small adjustments, the big shift is really political context.
2. House votes to repeal IRS crypto tax rule, sending it to Trump
House votes to repeal controversial IRS crypto tax rule, teeing it up for Trump's signature
— The Block (@TheBlock__)
1:18 AM • Mar 12, 2025
⌐◪-◪ → Congress is in crypto’s corner
The U.S. House of Representatives just voted 292-132 to overturn the DeFi broker rule proposed by the IRS under Biden’s administration—a huge win for crypto.
For context, this rule would have forced DeFi projects to collect and report information that would have been impossible to comply with, stifling innovation. Even some Democrats saw the problem, with 76 breaking ranks to vote in favor of overturning the rule.
The Senate already passed this resolution once, but it needs to do so again before it reaches Trump’s desk. Unlike Biden, who vetoed it last time, Trump is expected to sign it.
Crypto’s future in America has never looked brighter.
3. Taproot Wizards announce mint details targeting $35M in total sales
IT’S TIME.
today we’re announcing the Taproot Wizards mint 🪄
2 years ago 2,121 Taproot Wizards brought magic back to bitcoin, and on March 25th, one of them could be yours.
read below for all the details 👇🧵 x.com/i/web/status/1…
— Taproot Wizards (@TaprootWizards)
2:59 PM • Mar 11, 2025
⌐◪-◪ → Taproot Wizards are finally minting
The long-awaited Taproot Wizards mint is finally happening, here are the key details:
Mint date: March 19
Supply: 2,121
Mint price: 0.2 BTC
The only ways to mint are by: holding a pair of Dead + Alive Quantum Cats, being a top supporter, or Dutch auction.
If it sells out, it would be the biggest Ordinals mint ever at $35M in gross sales—putting it among the top PFP collections in terms of mint revenue since the NFT boom of 2021-2022. For reference (shoutout to wale.moca for this data):
Mutant Apes raised $91M
Moonbirds raised $60M
Azuki Elementals raised $38M
WoW Galaxy raised $34M
While this is bullish, there’s also a lot that could go wrong. Be honest—aside from a few wild parties at conferences—how often do you think about Moonbirds, Azuki, or WoW these days? Hype fades fast.
That’s why I lean toward the communities with no expectations, where the only “thing” you own is the art and access to the community—like Punks, Dickbutts, and Toadz.

Everything Else
⛓️ Crypto & DeFi
Bitcoin price rebounds above $83K after Ukraine ceasefire news
BTC & ETH futures open interest plummets, suggesting leveraged washout
Ethereum’s Holesky testnet reaches finality after two weeks of disruption
Starknet aims for Bitcoin’s DeFi moment with Xverse wallet
StarkWare sets up BTC reserve for Bitcoin-Ethereum unification vision
Circle upgrades protocol to speed up USDC stablecoin settlements
Ether whale prevents $340M liquidation with last-minute deposits
Mt. Gox moves another $930M BTC ahead of payout deadline
Bubblemaps launches token on Solana & BNB
BTC forms bullish RSI divergence ahead of U.S. CPI
YouTubers blackmailed into promoting crypto mining malware
Bitcoin mining pool Braiins achieves 1,000 daily Lightning payouts
Axelar Foundation reports $30M AXL token sales for expansion
NEAR Foundation rebrands Nuffle Labs to MoreMarkets
🏦 Wall Street & VC
Newmarket Capital says U.S.A. could issue $2T in “Bit Bonds” to buy BTC
CoreWeave signs $11.9B infrastructure deal with OpenAI
Cathie Wood’s Ark Invest buys $11.5M in Coinbase shares amid market dip
Bitwise launches ETF for firms holding 1,000+ BTC
Cantor Fitzgerald expands Bitcoin financing amid U.S. policy shift
Robinhood reports 29% drop in crypto trading amid market carnage
Coinbase falls with Bitcoin, but analysts say selloff is overdone
Anchorage Digital to custody Bitcoin for Cantor Fitzgerald
Fidelity’s Ethereum ETF moves to add staking amid market losses
🏛️ Legal & Regulatory
Newmarket Capital CEO says U.S.A. could issue $2T bonds to buy $200B BTC
Sen. Lummis reintroduces bill to create Trump’s Bitcoin reserve
U.S. Bitcoin Reserve a ‘monumental endorsement’ of BTC
Trump has no plans for another large-scale crypto summit
U.S. residents missed up to $2.6B in geo-blocked airdrops
🌎 Rest Of The World
Bank of Russia to allow limited crypto purchases for investors.
EU official warns Trump’s crypto support threatens EU sovereignty
Paraguay waits for crypto law approval as El Salvador leads regulation
Puerto Rico resident faces $10K daily fine for defying Bitcoin seizure order
South Korea preps to unlock institutional crypto investment
Coinbase gets approval to offer crypto trading in India
Tokenized gold enters $1B Bahrain-regulated market
🖼️ NFTs & Metaverse
Taproot Wizards set to launch Bitcoin Ordinals collection this month
BC.GAME expands its esports team and prize competitions
