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Bitcoin rallies past $117,000 as the US government shuts down – Sherwood News

Meanwhile, Strategy is surging following the IRS issuing interim guidance that would remove the 15% Corporate Alternative Minimum Tax for unrealized gains on bitcoin holdings.
The US government may be shut down, but bitcoin is up. The asset is up 3.4% in the past 24 hours and has shot past $117,000, levels not seen since mid-September. The price action has also pushed bitcoin dominance to 59% from 57%, according to Glassnode.
Lee Bratcher, president and cofounder of the Texas Blockchain Council, told Sherwood News, “It’s a safe-haven asset for investors to turn to during times of macro uncertainty, just as we saw with the 2008 recession and in similar times.”
He added that how the price will move from here is uncertain. “In the short term, we may see BTC go down with investors in panic, but in the medium term, there’s going to be improved liquidity and greater support of risk assets,” Bratcher said.
Prior to the shutdown, the Treasury Department and the IRS issued interim guidance on Tuesday to remove the 15% Corporate Alternative Minimum Tax (CAMT) for unrealized gains on bitcoin holdings, sending shares of the two largest corporate bitcoin holders, Strategy and MARA Holdings, up in early trading.
To put this in context, Strategy holds $26 billion in unrealized gains, per The Wall Street Journal, and the regulatory move now “removes a significant source of potential overhang for Strategy,” TD Cowen analyst Lance Vitanza said in a note.
MARA’s vice president of investor relations, Robert Samuels, celebrated the news, saying it “is a significant win for MARA and our stockholders.”
Tim Kotzman, founder of Bitcoin Treasuries Media, said that for Strategy, the guidance eliminates the risk of being taxed on paper gains, which could have materially pressured its cash flows. “Strategically, this strengthens their position to continue expanding their bitcoin treasury strategy without incremental tax burdens,” he said.
Meanwhile, Metaplanet jumped up the corporate bitcoin treasury ladder with its latest acquisition of 5,268 bitcoin, which makes the Japanese company the fourth-largest corporate bitcoin holder, with 30,823 bitcoin.

Bitcoin ETFs are having a strong start to the week, with $522 million in inflows on Monday.
Jim Cramer posted “buy crypto” atop a picture of the national debt clock, which was reposted by Strategy’s Michael Saylor with a slight change.
The price of bitcoin dipped below $109,000, showing “signs of exhaustion.”
Mounting concerns over digital asset treasuries buying crypto near the top of the market may be weighing on overall sentiment.
Bitcoin has seemed stalled around $112,000, but is finally breaking past the $113,000 mark on Wednesday as whales have led a rush to sell. The token’s price is still down nearly 2% over the past week.
David Siemer, CEO of Wave Digital Assets, told Sherwood News that the wave of liquidations is due to a combination of factors hitting at once, including the fact that crypto markets have become heavily leveraged after bitcoin’s run past $120,000.
“Once bitcoin slipped through key price levels, stop-losses and liquidations snowballed against relatively thin liquidity, which amplified the move,” he said, adding that at the same time, stronger-than-expected US inflation data lifted the dollar and dampened risk appetite, giving traders another reason to unwind positions.
“Short-term holders were quick to sell into the weakness, further accelerating the downside,” he said.
Meanwhile, bitcoin ETFs continue to bleed, with outflows reaching $466.7 million since Monday, SoSoValue data shows. Reflecting the risk-off sentiment, gold ETFs, in contrast, experienced their largest inflow since January 2021 on Friday as gold itself hits all-time highs.

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Trump gives Qatar unprecedented security guarantee after Israeli attack – Axios

  1. Trump gives Qatar unprecedented security guarantee after Israeli attack  Axios
  2. New Trump executive order guarantees Qatar security after Israeli attack  Al Jazeera
  3. Trump Promises to Defend Qatar, a Reassurance After Israel’s Strike  The New York Times
  4. Qatar to continue mediation after Israel expresses regret over strike on Hamas  BBC
  5. Attack on Qatar a threat to US security, Donald Trump says  The Jerusalem Post

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Trump's pharmaceutical tariff threat loses bite after Pfizer deal reassures drugmakers – CNBC

  1. Trump’s pharmaceutical tariff threat loses bite after Pfizer deal reassures drugmakers  CNBC
  2. How Trump’s Drug-Buying Site ‘TrumpRx’ Will Work  The Wall Street Journal
  3. President announces TrumpRx website for drugs, and pricing deal with Pfizer  NPR
  4. Trump Announces Pfizer Deal to Lower Some Drug Prices and Unveils TrumpRx Website  The New York Times
  5. Fact Sheet: President Donald J. Trump Announces First Deal to Bring Most-Favored-Nation Pricing to American Patients  The White House (.gov)

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Ripple Veteran Hands Off CTO Duties, Pivots to XRPL Projects – livebitcoinnews.com

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Ripple CTO David Schwartz steps back to focus on personal projects, with Dennis Jarosch taking over technical operations at Ripple.
 
David Schwartz, the long-time CTO of Ripple, has announced he will step back from daily operations after more than a decade with the company.
Transitioning to the role of “CTO emeritus,” Schwartz will focus on personal projects and spending more time with family, though he will remain active within the XRP community. 
As Ripple continues its expansion, this leadership change marks a new chapter for both the company and its flagship XRP Ledger, with Dennis Jarosch stepping in to lead technical operations moving forward.
David Schwartz has been with Ripple since 2011, when he helped design the XRP Ledger. His technical expertise and leadership have been key to the company’s success, particularly in the face of regulatory challenges. 
Schwartz’s work has earned him recognition as one of the most influential figures in the blockchain space.
As happens in one’s life, I’ve been taking stock of my last 40 years. It’s been a wild ride. I’ve gone from consulting for the NSA to watching the early stages of Bitcoin. Then, I met Arthur, Jed, and Chris and worked on coding the XRP Ledger. Now, I’ve spent more than 13 years…
— David 'JoelKatz' Schwartz (@JoelKatz) September 30, 2025

As CTO, Schwartz played a major role in guiding Ripple’s technology and its vision for the future. However, he now feels the need to focus on other projects and personal endeavors. 
In a post on X (formerly Twitter), Schwartz shared his excitement for returning to coding and exploring innovative ways to use XRP beyond Ripple’s payment solutions. This shift will allow him to engage more deeply with the XRP ecosystem on a personal level.
Dennis Jarosch, Ripple’s senior vice president of engineering, will now take over technical operations. 
Jarosch has been with Ripple for several years and is well-positioned to lead the company’s technical efforts. As Ripple continues to push the XRP Ledger’s use cases beyond payments, Jarosch’s leadership will be essential for driving this expansion.
One of the major areas of focus for Ripple is the RLUSD stablecoin project, which is expected to play a central role in the tokenized treasury markets. This is part of Ripple’s broader strategy to explore new applications for the XRP Ledger. 
Under Jarosch’s leadership, Ripple aims to increase adoption and build new partnerships within the crypto and blockchain sectors.
David Schwartz’s departure from his CTO role has sparked mixed reactions from the Ripple community. Some people are concerned about how the leadership change might impact Ripple’s direction. However, others have pointed out that Schwartz’s new role on the board is significant and that he will still play a key part in the company’s future.
For those who are concerned David is stepping down, being a member of the board of directors is a bigger and higher-ranking position than a Chief Technology Officer (CTO).
He can basically have a say in firing Brad for example :)) . Just kidding, but that is technically true. pic.twitter.com/D7dZb0kJbZ
— Dan's Odyssey (@dan_tfhc) September 30, 2025

Ripple CEO Brad Garlinghouse responded positively to Schwartz’s transition, praising his contributions to the company. In a lighthearted moment, Garlinghouse joked about Schwartz now being his boss, given his new position on the board. 
Despite the change, Schwartz’s continued involvement with Ripple reassures many in the XRP community, who are eager to see how the XRP Ledger evolves in the coming years.
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