Last week, Bitcoin showed resilience after a sharp sell-off and subsequent bounce. Concerns about mining centralization were highlighted, with 80% of Bitcoin blocks being created by just five entities. Institutional adoption of Bitcoin is still in its early stages, with more time and expertise needed for meaningful deployment. In the political arena, the Biden administration and Democrats are facing criticism for potentially ignoring the desires of the American people. Outgoing SEC chair Gary Gensler is pushing for aggressive crypto enforcement, while a last-minute backroom deal involving Senate Democrats aims to advance a controversial anti-crypto nominee. The Department of Justice is attempting to extradite Roger Ver on alleged crypto tax evasion charges, while Fartcoin, a cryptocurrency with a humorous name, outperformed Bitcoin and reached all-time highs.



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