Today in crypto, Roger Ver has reportedly reached a deal with the US Justice Department to avoid prison over tax charges. Luxembourg’s sovereign wealth fund made its first Bitcoin ETF investment, and trader Peter Brandt says BTC could be nearing a top or a “dramatic” surge.
Roger Ver reaches tentative agreement with US DOJ over tax charges: Report
Bitcoin advocate Roger Ver, known to many in the crypto industry as “Bitcoin Jesus,” has reportedly reached a deal with the US Department of Justice that could allow him to avoid prison time.
According to a Thursday New York Times report, Ver’s lawyers reached a tentative agreement with US authorities that would require the Bitcoin (BTC) advocate to pay $48 million in taxes he owed from his crypto holdings. The Justice Department charged Ver with mail fraud and tax evasion in April 2024, seeking to extradite him from Spain to stand trial.
The New York Times reported that Ver has ties with figures connected to the administration of US President Donald Trump, including hiring lawyers who previously worked for the president. He also reportedly paid $600,000 to political consultant Roger Stone, a Trump adviser, to lobby for changes to US tax laws.
The reported deal followed a series of regulatory and legal actions under the Trump administration softening on legal cases involving digital assets. At the time of publication, the tentative agreement did not appear on the public docket for Ver’s case in the US District Court for the Central District of California.
The initial indictment alleges that Ver falsely reported on tax forms related to his crypto holdings. He and two of his companies, MemoryDealers and Agilestar, allegedly held about 131,000 BTC in 2014. The DOJ said he attempted to evade paying taxes on his assets by renouncing his US citizenship and later becoming a citizen of St. Kitts and Nevis.
Luxembourg sovereign wealth fund dips into Bitcoin ETFs with 1% stake
Luxembourg’s sovereign wealth fund has allocated 1% of its portfolio to Bitcoin exchange-traded funds (ETFs), marking one of the first such moves by a European state-backed investment entity.
Luxembourg Director of the Treasury and Secretary General Bob Kieffer noted the investment in a Wednesday LinkedIn post. He said Finance Minister Gilles Roth had revealed the decision during his presentation of the 2026 Budget at the Chambre des Députés, Luxembourg’s legislature.
Gilles Roth. Source: Wikimedia
“Recognizing the growing maturity of this new asset class, and underlining Luxembourg’s leadership in digital finance, this investment is an application of the FSIL’s new investment policy, which was approved by Government in July 2025,“ Kieffer said.
Luxembourg’s Intergenerational Sovereign Wealth Fund (FSIL) has reportedly invested 1% of its holdings into Bitcoin ETF products. Considering the fund’s assets under management of about 764 million euros (almost $888 million) as of June 30, this is equivalent to a placement of about $9 million into Bitcoin ETFs.
Bitcoin set for “dramatic” surge if it doesn’t top soon: Peter Brandt
Bitcoin is poised for unprecedented price discovery as long as it doesn’t peak within the next few days, according to veteran trader Peter Brandt.
“It is reasonable to expect a bull market high any day now,” Brandt told Cointelegraph on Wednesday, citing Bitcoin’s (BTC) historical cycle pattern, which has played out in the three previous cycles.
Bitcoin is trading at $122,070 at the time of publication, up 9.74% over the past 30 days. Source: CoinMarketCap
“These cycles from low-to-halving-to-high have not always been the same length, but the post-halving distance of each has always been equal to the pre-halving distance,” Brandt said.
“Sooner or later, cycles change. But betting against a cycle that has a perfect three-for-three record should not be done with reckless abandon,” he said.
Brandt said he is 50/50 on the outcome. “I will remain bullish, hopeful for counter-cyclicality. In this case, a move well beyond $150,000 would be my expectation, perhaps as high as $185,000,” Brandt said.
