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A bipartisan ethics proposal pitched to US President Donald Trump to secure passage of the crypto market structure bill in Congress could create a significant tax benefit for the president, Bloomberg reported Thursday. The ethics addendum, which has not been made public, includes a provision requiring the president to divest from crypto-related businesses, according to people familiar with the matter. The proposal would reportedly allow Trump to defer capital gains taxes on any required divestitures, potentially leading to tax savings in the millions. Democratic concerns over Trump’s crypto conflicts have been a central obstacle to passing the market-structure bill. Senators have been working on an ethics addendum meant to break that impasse, though the reported tax-deferral benefit could become another point of contention for Democrats to question whether the president’s financial interests are genuinely curbed. Cointelegraph reached out to the White House for comment but did not receive an immediate response. Related: US Senate pushes CLARITY Act vote to September: ReportTrump’s annual financial disclosure report for 2025, released at the end of June, revealed the US president saw $1.4 billion in income from crypto-related ventures last year.According to the 927-page disclosure, the licensing and sale of memecoins such as Official Trump (TRUMP) generated the most income for Trump, with about $635 million coming from “royalties” in a “license agreement with Celebration Coins.”Meanwhile, the Trump family’s DeFi platform, World Liberty Financial, was the second-biggest earner, generating about $588 million from “proceeds from token sales.” The disclosure also revealed that Trump earned $197 from the sale of an equity interest in a stablecoin venture. Meanwhile, disclosures on World Liberty’s website show that DT Marks DEFI LLC, an entity affiliated with Trump and certain family members, owns “approximately 38% of the equity interests” in World Liberty’s parent company.Magazine: CLARITY hopes fade, BitMEX shuts as lawsuit looms: Hodler’s Digest, July 26 Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
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Cointelegraph is committed to providing independent, high-quality journalism across the crypto, blockchain, AI, and fintech industries.All news, reviews, and analyses are produced with full journalistic independence and integrity. For more details on our standards and processes, please read our Editorial Policy.
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Bitcoin miner MARA swung to a net loss of $611.3 million from a year-earlier profit in the second quarter of 2026, driven primarily by a change in the value of its Bitcoin holdings, despite reporting its highest quarterly Bitcoin production in more than a year. The net loss, equivalent to $1.60 per diluted share, is down compared to a net income of $808.2 million, or $1.84 per diluted share, in the second quarter of 2025, according to the company’s 10-Q SEC filing. MARA mined 2,422 Bitcoin in the quarter, 3% more than the prior year period, but higher production was more than offset by a 28% decline in the average Bitcoin price. “Two things defined Q2 for MARA. Bitcoin prices created a challenging revenue environment [and] we used the quarter to fundamentally transform our power portfolio and capital structure,” said MARA chief financial officer Salman Khan during an earnings call on Thursday. The quarter highlights MARA’s exposure to Bitcoin prices even as it expands mining capacity and pursues AI and high-performance computing infrastructure. As of June 30, MARA held a total of 35,577 Bitcoin, with a total fair value of $2.1 billion, making it the fourth-largest public Bitcoin holder after Strategy, Twenty One Capital and Metaplanet. MARA eyes continued AI expansion In February, the company acquired a majority stake in Exaion SaS, which operates high-performance computing (HPC) data centers and secure cloud and AI infrastructure.In the same month, MARA also announced a partnership with Starwood Capital Group and its data center development platform Starwood Digital Ventures to enable the conversion of select MARA sites to meet demand from “enterprise, hyperscale and AI customers.” Related: Bitcoin miners’ AI pivot loses Wall Street’s wow factor MARA said it is targeting at least two AI/HPC lease signings by year-end. “Working alongside Starwood, we are progressing lease discussions across multiple sites, and we remain confident in our ability to sign at least 2 leases before year-end,” MARA CEO Fred Thiel said on Thursday. In July, MARA also agreed to acquire a 1,200-acre powered land site in Matagorda County, Texas, with expected access to up to 2 gigawatts of grid capacity by April 2028. The company said it intends to develop the site for AI and HPC workloads as well as Bitcoin mining. MARA’s expansion plans also include its pending acquisition of Long Ridge Energy & Power in Ohio, a $1.5 billion deal that MARA has said could support up to 600 megawatts of AI and critical-IT load over time.Related: Galaxy, MARA Holdings deepen Texas expansion with land acquisitionsBitcoin mining remains foundationalIn a letter to shareholders on Thursday, Thiel said Bitcoin mining still represents the core of MARA’s business and will continue to generate cash flow that supports its other investments. “Ultimately, we do not view Bitcoin mining and AI infrastructure as competing businesses,” said Thiel.“Our capital allocation philosophy remains straightforward. Every megawatt should be deployed into its highest-value application. In some markets, that will continue to be Bitcoin mining. In others, it will be AI infrastructure, sovereign cloud, or enterprise computing.”Magazine: 10 weirdest things ever tokenized… including farts
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Cointelegraph is committed to providing independent, high-quality journalism across the crypto, blockchain, AI, and fintech industries.All news, reviews, and analyses are produced with full journalistic independence and integrity. For more details on our standards and processes, please read our Editorial Policy.
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