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Brazilian Congress Proposal to Establish Strategic Bitcoin Reserve, Planning to Accumulate 1 Million BTC Within 5 Years

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February 13th — A bill to create a strategic sovereignty Bitcoin reserve in Brazil, named RESbit, has been formally filed with the country’s Chamber of Deputies, according to the chamber’s official website. The legislation requires Brazil to accumulate at least 1 million bitcoins over five years through phased, planned acquisitions—marking a major expansion of earlier proposals that would have used 5% of foreign exchange reserves for Bitcoin purchases. Additional provisions in the draft include: banning the sale of judicially seized Bitcoin; allowing Bitcoin as payment for federal taxes; and offering incentives for Bitcoin mining and holding firms. If passed, the bill would push Brazil’s Bitcoin holdings past those of the U.S. and China. Currently, the proposal faces hurdles from existing central bank regulations, which do not recognize Bitcoin as a reserve asset.
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The crypto market has entered a deep freeze, with Kyle Samani and more venture capitalists growing bearish on the industry

February 13th As the crypto bear market trend solidifies, market sentiment remains subdued. Pessimism has spread from the secondary market to the more seasoned primary market investment community—and even into the VC space. Last week, Multicoin co-founder Kyle Samani announced he is stepping down from Multicoin Capital. Today, DeFiance CEO Arthur voiced pessimism, stating the crypto venture capital model is dead. He added the firm will only invest in purely cash-flow-positive businesses going forward. Meanwhile, Moonrock Capital founder Simon Dedic noted he’s spoken with at least five top VCs and industry insiders this week. These contacts either doubt the market will fully recover, or have already exited crypto and shifted their focus to AI and Web2 stocks.

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US AI Industry Executives Raise $50 Million to Form Super PAC Supporting Deregulation-friendly Candidate

Bloomberg reported on February 13, 2024, that AI industry leaders including Marc Andreessen, Ben Horowitz, and Greg Brockman have donated $50 million to a super PAC named "Leading the Future." The group is backing candidates in November’s congressional elections who push for lighter regulation of artificial intelligence.

The report notes the move draws cues from the crypto industry’s political playbook during the 2024 election cycle.

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U.S. Treasury Secretary: Inflation Could Ease to Near 2% by Midyear

February 13 – U.S. Treasury Secretary Benson stated that inflation could ease back to near 2% by mid-2026, reiterating that GDP growth is likely to hit 3% in 2025.

2 minutes ago

Mixin Network Hacker Begins to Dump 59,854 ETH Two Years After Silence, Worth $117M

On February 13, LookOnChain monitoring data shows the Mixin hacker has begun selling 59,854 ETH after two years of inactivity, with the total value hitting $117 million. Fifteen hours ago, the hacker transferred 2,005 ETH to TornadoCash. Moments later, three new wallets received 2,087 ETH (valued at $4.03 million) from TornadoCash and sold the tokens at $1,933 each. As of now, the hacker still holds 57,849 ETH (worth $113.4 million) and 891 BTC (worth $59.7 million).

2 minutes ago

Binance CEO in France Faces Attempted Home Robbery, Suspect Arrested

**February 12 Attempted Robbery Targets Binance’s France CEO; Suspects Arrested** French outlet RTL reported Binance’s France chief was the target of an attempted robbery on February 12. Three masked, armed individuals broke into an apartment building in France’s Val-de-Marne department around 7 a.m. that day, searching for the executive’s residence. The suspects first forced their way into another resident’s home to get info on the target apartment, then ransacked the crypto exec’s place. Finding the homeowner absent, they stole two cell phones before fleeing. At 9:15 a.m. the same day, the trio attacked another Villecresnes resident—mistakenly believing the person was a different crypto entrepreneur. Police used surveillance footage and cell signal tracking to arrest the three suspects at Lyon Part-Dieu train station. They are currently in custody pending investigation.

2 minutes ago

Ava Lau will join Benchmark as a Senior Investment Manager

On February 13, Erika, an X user, disclosed that Gu Ai Ling will join Benchmark as a Senior Investment Manager reporting to Bill Gurley following the Winter Olympics. Bill Gurley has personally confirmed the news. Benchmark is a prominent Wall Street venture capital firm whose portfolio includes unicorns like Uber, Zillow and Nextdoor.

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