⚖️ US Justice Department and Wall Street back the challenge to Illinois's crypto tax
The US Justice Department, the US Chamber of Commerce and SIFMA have filed court papers supporting crypto industry groups that are suing to strike down Illinois's 0.2% tax on digital asset transactions, Cointelegraph reported on November 12.
➡️ What the tax does
🟡 The law puts a 0.2% levy on the value of digital assets exchanged, transferred or stored through a broker for an Illinois customer — even when there is no profit. It was due to start on January 1, 2027, but the state has agreed to pause it until July 1, 2027.
➡️ Who is backing the challenge
🟡 The DOJ filed a statement of interest arguing the tax conflicts with federal digital asset policy. The Chamber and SIFMA warned it would hit banks, broker-dealers, custodians and asset managers. A DeFi coalition including a16z, Paradigm and Uniswap filed a separate brief.
➡️ What happens next
🟡 The case was brought by the Crypto Council for Innovation and the Blockchain Association. The plaintiffs are asking for a ruling by March 1, 2027.
Federal support does not decide the case, but it shows the fight is no longer a crypto-only issue.
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A wallet(0x293a) that had been dormant for 3 years received 10,000 $ETH an hour ago and sold it for 17.72M $USDC at an average price of $1,772. https://arkm.com/explorer/address/0x293a8eb05d46056dbF598De33aAEC8eb052a9b9a $BTC
🚨BREAKING: Prediction Markets Price 80% Chance Bitcoin Falls Below $60,000. Prediction markets are flashing strong bearish sentiment, with traders now assigning roughly an 80% probability that $BTC will drop below $60,000 at some point in the coming period (specific timeframe varies by market — often by year-end or within defined windows). This spike in odds comes amid the current bleed below $70K, heavy ETF outflows, Mt. Gox movements, miner margin pressure, and renewed geopolitical risks from Iran halting talks. Quick Context: Long-term holders are feeling pain but not yet at full capitulation levels. Key supports sit at $65K–$68K, with $60K acting as a major psychological and historical zone. Corporate treasuries (Strategy, Strive, Bitmine, etc.) continue providing a counter-balance through accumulation. While prediction markets have been accurate on short-term volatility before, they can swing rapidly with sentiment. A break below $60K would likely trigger deeper capitulation and strong buying interest from dip accumulators. 80% Market Odds: Bitcoin to Drop Below $60K
A $ETH $26.6K bet for a potential $3.55M profit. That's an incredible risk-reward trade! A new wallet, "jezfan", spent $26.6K on Polymarket betting the ruling on "MicroStrategy sells any $BTC by May 31, 2026" will be changed. If the outcome is changed to YES, he could make a profit of $3.55M. https://polymarket.com/0x5676e1472ccc662791dc08691ef8d5b267ea6f1d
$BTC started the week with sharp downside pressure which is about to open a good momentum for us. After the first wave of drop, price decided to have a small correction — and what we see forming now is possibly our favourite failed double bottom pattern. Looking for a break of that support, and once it breaks, we short!#EthereumStakingRatioRecordHigh
🚨 BREAKING: Iran Suspends Peace Talks with US in Protest Over Israel. Iran has announced it is halting negotiations with the United States, citing Israel’s ongoing military actions in Lebanon as a violation of the ceasefire. According to Iranian state media (Tasnim) and Foreign Ministry sources, the negotiation team will stop “talks and exchange of texts through intermediaries” until the situation is addressed. Tehran views Israel’s operations as undermining the fragile truce framework. This development comes amid recent progress on a potential deal involving the Strait of Hormuz reopening and nuclear issues, but highlights how regional tensions (particularly involving Israel) continue to complicate U.S.-Iran diplomacy. Markets are likely to react with renewed volatility in oil and risk assets. Iran Halts US Peace Talks Over Israel’s Actions in Lebanon $CL $BZ #IranHaltsCommunicationWithUS
Well… it’s official. Strategy actually sold BTC🥶. Last week, Strategy sold 32 $BTC , worth roughly $2.47M, at an average price of around $77,135 , marking the company’s first Bitcoin sale in more than 3 years. That alone is enough to turn heads, because Strategy’s entire brand has basically been “buy BTC, never sell.” The last time they reduced holdings was back on Dec. 22, 2022, when they sold 704 #BTC at ~$16,776. But that move turned out to be short-lived ... just two days later, they bought back 810 BTC at ~$16,845, ending up with even more Bitcoin than before. So the real question isn’t just “did Strategy sell?” ... it’s why. Was this a small treasury adjustment? Liquidity management? A symbolic trim? Or just another repeat of 2022 where they sell a little… then reload even harder? For context, 32 BTC is tiny relative to Strategy’s overall stack, which makes this feel more like a signal people are overanalyzing than a genuine change in conviction.$BTC $ETH #EthereumStakingRatioRecordHigh
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