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"Bitcoin Jesus" Roger Ver renounced his U.S. citizenship to avoid taxes, and ten years later was pursued for nearly 50 million dollars in expatriation taxes

According to Reuters, earlier this month, the U.S. Department of Justice announced a deferred prosecution agreement with "Bitcoin Jesus" Roger Ver, under which his fraud and tax evasion charges will be dismissed in exchange for a payment of up to $49.9 million in fines.Roger Ver, one of the earliest Bitcoin evangelists, bought a large amount of Bitcoin in 2011 for less than $3 million. In February 2014, to avoid high tax burdens, he acquired citizenship in the Caribbean nation of Saint Kitts and Nevis and renounced his U.S. citizenship the following month. At that time, he and his companies held at least 131,000 Bitcoins, valued at over $70 million based on the price at that time. He believed that by changing his nationality, he could put an end to the high tax burden in the U.S.However, the U.S.'s stringent "exit tax" completely thwarted his plans. According to U.S. tax law, eligible expatriates must treat their global assets as if they were "sold the day before expatriation" and pay capital gains tax. Although Ver reported and paid $1.03 million in taxes, he not only failed to report his personal holdings of Bitcoin but also severely undervalued his company's assets. Ten years later, the IRS confirmed his fraudulent tax evasion (which is not subject to the statute of limitations), ultimately forcing him to pay back up to $49.9 million in taxes, fines, and interest, which is 48 times the amount he reported paying in taxes that year.

Interlace, together with ecological partners, has initiated a white paper on stablecoin payment infrastructure, exploring the path from on-chain settlement to real-world payments

The stablecoin infrastructure platform Interlace announced a joint initiative with multiple industry partners, including OSL, AllScale, Stable, Hetu, Cregis, WIDTH, KEM, and KTX, to launch the white paper titled Stablecoin Payment Infrastructure: From On-Chain Settlement to Real-World Payments. As stablecoins evolve from crypto-native financial instruments into global financial infrastructure, stablecoin payment activity is also growing rapidly. In Q1 2026, stablecoin transaction volume exceeded $28 trillion, while stablecoin B2B payments reached $226 billion in 2025, representing a 733% year-over-year increase. However, as stablecoin payments expand into real-world commercial use cases, the industry still lacks a systematic framework for defining the capabilities covered by stablecoin payment infrastructure and how on-chain assets can be connected with real-world commerce. The white paper will focus on this gap, covering key topics such as stablecoin payment infrastructure, end-to-end costs, compliance and risk management, and enterprise-scale adoption. Drawing on industry data, practical experience, and real-world cases, it will further explore the development path of stablecoin payment infrastructure. The full white paper is expected to be officially released within the next 1-2 months.

first_img Bitwise CEO: The failure of the Dogecoin ETF highlights the differences between ETF buyers and cryptocurrency application users

Bitwise CEO Hunter Horsley stated in an interview with The Block at the Digital Asset Summit 2026 Asia that the failure of the Bitwise spot Dogecoin ETF is "tragic," highlighting the "difference" between the users served by spot ETFs and those served by crypto brokerage applications. The Bitwise Dogecoin ETF (BWOW) was listed on the New York Stock Exchange in November 2025 and is set to close less than a year after its launch, with trading halting after October 14. According to SoSoValue data, as of October 7, the fund managed approximately $725,900 in assets, with a trading volume of $51,500 in September.Horsley expressed that he likes and holds Dogecoin, believing that it is historically a useless token but represents something and is a reasonable asset; however, it has shown no progress as an ETF. He thinks ETF users do not want to invest money in Dogecoin, but this may change over time; he denied that Bitwise targeted the wrong audience and described crypto ETFs as a channel. In contrast, he is more confident about the success of the Bitwise Solana Staking ETF (BSOL), stating that its pioneering staking feature contributed to its success, but the $1.3 billion in net assets ultimately reflects a bet on Solana.AI is currently one of Bitwise's focuses. Horsley stated that crypto and AI originate from the same source, with the former reconstructing financial services as software and the latter enabling machines to perform tasks previously done by humans;

Gate founder and CEO Dr. Han and Max Verstappen appeared at TOKEN2049, participating in a special handprint commemorative ceremony together

Four-time F1 World Champion and Red Bull Racing driver Max Verstappen participated in a roundtable discussion on the main stage of TOKEN2049 in Singapore. Following this, at the invitation of Gate, he joined platform founder and CEO Dr. Han and teammate Isack Hadjar for an exclusive handprint ceremony. Previously, Max Verstappen engaged with the guests on topics related to racing performance, on-the-spot adjustments, and competition. The subsequent handprint ceremony extended the stage interaction to the Gate on-site event, becoming a special memento left by the three during TOKEN2049. After the handprint ceremony, Max Verstappen and Isack Hadjar also went to the Gate Lounge to participate in a driver meet-and-greet, where they signed autographs, took photos, and interacted with guests.As the official sponsor of the F1 Red Bull Racing team, Gate continues to bring top-tier racing culture into the Web3 industry through various forms such as stage discussions, handprint commemorations, booth interactions, and driver meet-and-greets. This handprint ceremony also became a special segment in the series of interactions between Gate and the F1 Red Bull Racing team during TOKEN2049. Gate will leverage this collaboration to further expand the connection between digital assets and global sports as well as mainstream culture.

first_img DogeOS launched a public testnet, introducing EVM smart contracts for Dogecoin

DogeOS, the application layer of Dogecoin, launched its public testnet on Wednesday, introducing EVM-compatible smart contracts to the Dogecoin network as a zero-knowledge rollup, with DOGE as the native token for transaction fees. The project aims to support applications such as trading, lending, stablecoins, prediction markets, and gaming, while settling state back to the Dogecoin network.DogeOS currently uses a trusted execution environment, validators, and a permissioned sequencer to ensure network security. Future proposed upgrades to Dogecoin Core will allow Dogecoin miners to directly verify their execution proofs. DogeOS CEO Jordan Jefferson stated that Dogecoin does not currently verify ZK proofs on its own, and bridging state transitions requires valid proofs as well as signatures from a majority of validators and TEE signers. He mentioned that the team is currently focused on the public testnet, allowing developers time to build and test applications, with the mainnet timeline to be announced upon reaching the next development milestone.DogeOS comes from the MyDoge wallet team, which announced a $6.9 million funding round led by Polychain Capital in May 2025. Two months later, the DogeOS team submitted a proposal for a Dogecoin Core upgrade to add native ZK proof verification for Dogecoin, but this upgrade has not yet been implemented. Timothy Stebbing, a director of the Dogecoin Foundation, expressed hope that DogeOS will serve as a springboard for a new wave of practical engineering.

Gate Voyage Bali event successfully held, bringing together nearly 200 global guests to discuss ecology and market development

Gate Voyage launched a series of events in Bali, focusing on topics such as ecological construction, global development, TradFi, and diversified assets, featuring multiple themed sharing and exchange sessions. Nearly 200 industry guests, partners, and content creators from around the world participated, sharing market observations and business practices from different perspectives in a setting that combined exclusivity with a vacation atmosphere.During the event, Gate founder and CEO Dr. Han delivered a speech via video link, reflecting on Gate's 13-year development journey and the milestone of surpassing 60 million users, while sharing insights on industry cycles, long-term construction, ecological cooperation, and future product layout. Gate Executive Director Edwin Cheung and CMO Kyle Chiu shared insights on ecological development and global growth, respectively; Media Studio and VIP Masterclass focused on topics such as stocks, tokenized assets, Pre-IPO, prediction markets, and wealth management, exploring the linkage between digital assets and traditional financial markets.At the same time, the KOL Creator Battle gathered creators from around the world to co-create content around themes such as Gate Card, traditional finance, wealth management, and partners. The event also included interactive segments like Bingo and AMA, integrating industry exchanges into exquisite luncheons, yacht trips, terrace BBQ parties, and high-end gala dinners. In-depth exchanges among global guests extended from the venue to dining tables and social moments, fostering discussions on collaboration in a relaxed and enjoyable atmosphere.This event connected industry exchanges and content co-creation through a carefully designed vacation setting, bringing together global markets and ecological resources to provide a communication platform for participants from various fields. In the future, Gate will continue to connect global partners and industry resources, working together to build an open, inclusive, and prosperous crypto ecosystem.

CoinGecko: Gate's spot TOP30 trading pairs lead in L1 depth share, with multiple indicators such as BTC, ETH, SOL, and DOGE performing outstandingly

According to the latest market analysis released by CoinGecko, based on order book data from August 25 to September 7, 2026, Gate ranks among the top platforms in the mainstream spot TOP30 trading pairs Top-of-Book (L1) depth share, and holds the first position in several mainstream assets.Among the 30 trading pairs tracked, Gate maintains a lead in 7, including BTC (27.3%), ETH (37.5%), XRP (39.2%), BNB (40.4%), DOGE (35.6%), NEAR (42.19%), and USD1 (38.07%). Under the 1% depth metric, Gate ranks first in 15 of the 30 trading pairs; in terms of coverage, Gate ranks in the top two for 28 trading pairs, demonstrating the broadest liquidity coverage.From a liquidity metric closer to market prices, Gate also shows strong order acceptance capability. The spot L1 depth for BTC, ETH, XRP, and DOGE remained leading during the observation period; in the contract market, Gate's BTC perpetual and ETH perpetual L1 depth maintained a leading position throughout the observation period, with SOL and DOGE perpetual contracts also ranking high.In terms of tokenized assets, Gate's SKHYNIX perpetual contract L1 depth ranked first throughout the observation period and significantly ahead. CoinGecko points out that compared to trading volume, order book depth better reflects actual trading execution capability and potential slippage. As market participants' attention to trading execution quality continues to rise, Gate continues to strengthen liquidity construction in both the spot and contract markets, maintaining strong market depth in core assets such as BTC, ETH, DOGE, and SOL, providing ample liquidity support for trades of various sizes.

first_img Dogecoin ETF demand is sluggish, Bitwise announces the closure of the BWOW fund

According to data from CoinDesk, the three U.S. Dogecoin ETFs have seen a total net inflow of only about $12 million in the past 10 months, while the XRP fund attracted $12.29 million in a single day on September 9. Out of the 199 trading days covered in the statistics, the Dogecoin fund had zero net flow for 166 days, accounting for over 83%. During the period from August 13 to September 10, it also recorded a net outflow of about $108,000.In contrast, since its launch in November 2025, the XRP fund has accumulated a net inflow of $1.7 billion, while the SOL fund has raised $1.36 billion since its launch in October 2025, both exceeding the total amount of the Dogecoin fund by more than 100 times. During the 20 trading days from August 13 to September 10, the XRP fund added $190.5 million, and the SOL fund saw inflows of $199 million, while the Dogecoin fund recorded net outflows. Even though the price of Dogecoin rose over 30% in the last two weeks of August, it did not significantly change this situation.Weak demand has led to a contraction in the product line. Cryptocurrency asset management company Bitwise announced it would close its Dogecoin ETF BWOW, which has been in operation for less than a year since its launch in November 2025, and as of September 9, had an asset size of only $687,700. Trading is expected to stop on October 14, and remaining shareholders will receive cash on October 22. A Bitwise spokesperson stated that the company decided to liquidate the fund to continue optimizing its product line to meet the changing needs of investors.
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