The cryptocurrency market saw a week of significant activity, including Michael Saylor's MicroStrategy increasing its Bitcoin holdings, former President Donald Trump intervening in crypto tax regulations, and extreme price volatility for some altcoins. A Pennsylvania man is headed to prison for hiding millions of dollars he earned selling Ethereum. At the same time, crypto exchange OKX is growing its U.S. foothold following a successful settlement of legal claims.

Retired billionaire Michael Saylor’s MicroStrategy bought up another $285.8 million of Bitcoin just last week. As such, the firm increased these BTC purchases to approximately $45 billion in total crypto assets through this latest purchase. That’s equivalent to 2.5% of the total 21 million Bitcoin tokens that will ever be issued, Bloomberg notes. The company smartly used price fluctuations in its common shares to double down on its crypto exposure.

The legislation signed by former U.S. President Donald Trump intended to stop the IRS from implementing a rule. The delayed rule would have mandated that certain cryptocurrency brokers report tax information on digital asset transactions made through their platforms.

Bitcoin mining firm CleanSpark declared an expansion of its credit score facility with Coinbase Global to $200 million. According to the CEO, Coinbase extended the credit facility as part of its Bitcoin-collateralized lending program. Bloomberg first brought this story to light.

Raydium was the leading performer in altcoin markets, climbing 37.68% to become one of the most viewed cryptocurrencies on CoinMarketCap. On the other hand, Mantra suffered a huge drop off, down 89% to turn the worst performer of the week. The growing release of altcoins has made many fathers and mothers question their market impact. Other analysts caution that this uptick may be enough to spark a serious sell off or “dump.”

A 45-year-old man from Pennsylvania is looking at six years in prison at most. He neglected to disclose the transaction of millions of dollars of Ethereum blockchain. During the NFT frenzy, the DOJ statement says Wilcox sold 62 "punks" for over $7.4 million in 2021, and another 35 for nearly $5 million in 2022.

U.S. President Trump followed suit with his own plan for reciprocal tariff tit-for-tat, in short order slapping duties on Thailand, Indonesia, and Malaysia. This second and more consequential plan targets crypto mining machines specifically, a move that could reshape the global cryptocurrency mining industry.

Crypto exchange OKX, previously known as OKEx, is making big moves to grow its footprint stateside. This expansion comes just weeks after the exchange agreed to pay half a billion dollars to settle charges brought by local authorities.

Frank Holmes is CEO and/or chief investment officer of U.S. Global Investors, Inc. This small-cap focused, San Antonio, TX, based investment advisory firm manages domestic and offshore “natural resource and emerging market” funds. Fund company’s no-load mutual funds include the Global Resources Fund (ticker PSPFX). You could take a look at the World Precious Minerals Fund (UNWPX) and the Gold Shares Fund (USERX). The FTSE Gold Mines Index Series consists of gold mining companies that the index provider believes have a sustainable production profile, with at least 300,000 ounces of gold production per year. These businesses produce 75% or more of their gross revenue from mined gold.