Crypto
New Crypto Bro PAC Spending Millions on Ads to Defeat Katie Porter in California Senate Race
Whatever remaining cryptocurrency moguls who are not looking at prison time have coalesced around a common enemy in Senate candidate Katie Porter, as money from Ron Conway and Andreessen Horowitz just bought $2 million worth of attack ads against her.
One-time biggest name in cryptocurrency, FTX founder Sam Bankman-Fried, is now headed to prison on fraud charges. Same goes for the former second-name biggest name in cryptocurrency, former Binance CEO Changpeng Zhao, who will be sentenced in April. But this has not daunted the crypto bro vision in general.
In fact, the New York Times reports that a cryptocurrency-focused political action committee (PAC) has raised a nearly $80 million war chest to influence the 2024 elections, and Politico’s Christopher Cadelago points out that they’ve spent $2 million on a TV ad campaign against Rep. Katie Porter, who’s running for Dianne Feinstein’s former Senate seat.
(As a reminder, it is crunch time in that Senate race. The March 5 primary is just three weeks from today, and only two of the four candidates running will move on to the November 5 election. The crypto PAC wants to make sure Porter is not one of them, with the TV ad seen below.)
The PAC is called Fairshake, and the commercial does not mention that their cause is cryptocurrency, perhaps to avoid association with all of the criminal money laundering in that sector. The ad shows doctored video of Porter’s famed viral whiteboard moments and decries her “claims not to take corporate PAC money,” while showing that she received campaign donations of between $500-$2,900 from a pharmaceutical company executive and a bank president.
These are all still individual donations from an actual human being, not a corporation or a PAC. And never mind the irony of a $2 million ad campaign calling someone out for taking $500-$2,900 contributions from individuals.
Californians aren’t fooled: Shadowy crypto billionaires don’t want a strong voice for consumers in the Senate. They fear people who call out corporate greed, so they’re spending millions on dishonest dark-money ads against me.
Their ads will never stop me from fighting for YOU. https://t.co/reVyV4Ntnn
— Katie Porter (@katieporteroc) February 13, 2024
The Times reports that Fairshake’s $80 million election war chest comes “mostly” from Andreessen Horowitz, Coinbase, and Ripple Labs, all of whom have major stakes in crypto. And Politico adds that our longtime tech industry puppet master Ron Conway is also a major donor. Per the Times, Fairshake has pulled in veteran political lobbying groups Impact Research (Biden 2020 campaign) and Jamestown Associates (Trump 2020 campaign).
What we know: Katie Porter joined other lawmakers including Elizabeth Warren in writing to Texas regulators with concerns about crypto mining and its effects on climate change.
Adam Schiff has received high letter grades from the industry.
Can see where this is headed …
— Christopher Cadelago (@ccadelago) February 12, 2024
So why are the crypto bros out to get Katie Porter? One can only speculate, but Politico’s Cadelago notes that Porter has criticized the industry over environmental concerns over crypto mining. And notably, this is the first major negative TV attack ad campaign against a Democrat in this race. (Schiff’s campaign is running an ad that calls out Republican Steve Garvey for voting for Trump twice.)
For @Slate I wrote about the California Senate campaign of GOP candidate Steve Garvey, who may very well knock out Katie Porter + Barbara Lee on Super Tuesday (basically gifting the seat to Adam Schiff) while running on a platform of empty head no thoughtshttps://t.co/OPjr9Pl7st
— Alex Shultz (@AlexShultz) February 5, 2024
And its desired effect seems to be to knock out Katie Porter in the March 5 primary election. It’s no secret that the leading candidate in that primary, Rep. Adam Schiff, also wants to see Porter knocked out, so he can cakewalk to an easy blue-state November victory over Garvey. Last poll we saw, Garvey and Porter are both tied at 15% for second place, while Schiff is comfortably in first place at 25%.
So Porter, and a gaggle of wealthy crypto investors, have three weeks to break that tie however they can.
Related: Debate for Feinstein’s Senate Seat: Adam Schiff, Katie Porter and Barbara Lee Spar, Steve Garvey Wishy-Washes [SFist]
Image: WASHINGTON, DC – JULY 25: U.S. Rep. Katie Porter (D-CA) speaks during a news conference on Medicare Advantage plans in front of the U.S. Capitol on July 25, 2023 in Washington, DC. Joined by Medicare advocates, Congressional Democrats held a news conference “to call for action to stop wrongful delays and denials in private Medicare Advantage plans, to end to fraudulent overpayments, and to mandate accountability for the worst actors who hurt patients.” (Photo by Alex Wong/Getty Images)
Crypto
Crypto ATM Count Falls to 38,928 as 597 Machines Exit the Market in Q1 2026
Crypto ATM Data 2026: 597 Net Removals
Recent figures show the global count of crypto ATMs edged close to the 40,000 mark this month, yet data recorded on March 29, 2026, reveals a net reduction of 769 machines. The year opened with a drop of 139 crypto ATMs, followed by the addition of 231 new installations in February.
An additional 80 units were installed at the beginning of March, according to Coin ATM Radar’s net growth logs, though the removal of 769 machines ultimately pushed the year’s total to a net loss of 597. As of this weekend, the global tally of crypto ATMs sits at 38,928 machines. Geographic data from Coin ATM Radar shows the U.S. holds 30,247 of those units, representing 77.7% of the total.
Canada follows with 3,839 crypto ATMs, accounting for 9.9% of the worldwide figure. Europe maintains 1,727 machines, or roughly 4.4% of the overall count of 38,928. Taken together, the U.S., Europe, and Canada host 35,813 machines, comprising 92% of the global share. The remaining 8% is distributed across Asia, Oceania, and other regions.
The crypto ATM tracking site further indicates that the top ten global operators collectively oversee 30,450 machines, representing 78.2% of the total. The industry’s leading provider is Bitcoin Depot, which runs a commanding 9,246 machines (23.8% market share). It is followed by Coinflip with 5,493 machines (14.1%) and Athena Bitcoin with 4,045 machines (10.4%).
Rockitcoin holds a solid footprint with 2,757 machines (7.1%), while Bitstop and Margo operate 2,372 (6.1%) and 2,138 (5.5%) machines, respectively. Stats further show that bitcoin ( BTC) remains the most widely supported asset, available across nearly all machines tracked worldwide by Coin ATM Radar.
Following bitcoin, altcoins as a collective category are supported by 38,910 machines, suggesting that nearly every ATM offering bitcoin also includes at least one alternative asset. Among individual altcoins, ethereum ( ETH) leads with support at 22,200 locations, closely followed by litecoin ( LTC) at 21,292 and tether ( USDT) at 19,894.
Roughly 91.6% of crypto ATMs are configured to facilitate cryptocurrency purchases, while the remaining machines support both buying and selling of digital assets. Logs from Coin ATM Radar offer a revealing snapshot of recent crypto ATM reductions in 2026, showing that the 40,000 threshold remains just out of reach for the industry at present.
Whether the crypto ATM count clears 40,000 this year depends largely on whether operators expand or continue pulling machines. The numbers show a market sorting itself out; large providers like Bitcoin Depot, Coinflip, and Athena hold the majority of installations, while smaller operators account for the gap. With North America controlling over three-quarters of the global count, the industry’s direction remains tied closely to conditions in a single market.
FAQ 🔎
- How many crypto ATMs are there in the world in 2026? As of March 29, 2026, Coin ATM Radar tracks 38,928 active crypto ATMs globally.
- Which country has the most Bitcoin ATMs? The United States leads with 30,247 machines, representing 77.7% of the worldwide total.
- Who is the largest crypto ATM operator in 2026? Bitcoin Depot operates 9,246 machines, giving it a 23.8% share of the global market.
- What cryptocurrencies do crypto ATMs support? Bitcoin is available at nearly all machines, with ethereum supported at 22,200 locations and litecoin at 21,292.
Crypto
Is Crypto Legal in Norway? EY Explains the Regulations
Global Legal Insight publishes a yearly print-and-digital series that investigates urgent themes in business and law with contributions from legal experts worldwide. In the 2025 volume on Blockchain and Cryptocurrency, Ernst & Young Tax and Law Norway wrote the country chapter, which addresses whether cryptocurrency is lawful in Norway and surveys how cryptoassets are positioned domestically under Norwegian regulation.
Norway generally permits cryptoasset ownership and trading, while placing the strongest compliance expectations on intermediaries that exchange, safeguard, or facilitate transfers for others.
Cryptocurrency Regulation in Norway: Institutions and Policy Signals
The chapter presents perspectives from the Financial Supervisory Authority of Norway, the Ministry of Finance, and the Norwegian Central Bank on current market conditions and responsible approaches to a fast‑moving sector. It also distills the operative legal framework and key tax rules for digital assets. In practice, the Financial Supervisory Authority of Norway is the primary supervisory body for many compliance questions that arise when a business provides crypto-related services (for example, exchange services or custody-like safeguarding for clients), while tax reporting and assessment are handled by the Norwegian Tax Administration.
For crypto businesses, the most relevant requirements typically relate to anti-money laundering compliance, including customer due diligence, transaction monitoring, and internal controls. Businesses that provide exchange services between cryptoassets and fiat currency, or that provide services for holding or administering cryptoassets on behalf of others, may need to register with the Financial Supervisory Authority of Norway before offering services, and should be prepared to document ownership and management, governance arrangements, risk assessments, routines for customer checks, and recordkeeping. If you are looking for a “crypto license” in Norway, the practical path is usually a registration-based process tied to anti-money laundering obligations rather than a single, universal license for all crypto activity.
Legal Status and Compliance Overview
This piece is a practical reference for readers seeking clarity on how Norway governs crypto asset activity. It delivers a concise, trustworthy roundup of regulation in Norway, touching on consumer protection and practical themes for participants in digital finance. For individuals, that often means understanding which activities are permitted, how to document transactions, and which authorities oversee intermediaries versus taxation.
From a consumer-use perspective, self-custody wallets such as Trust Wallet are generally available in Norway through standard app distribution channels, and individuals commonly use them as they do in other markets. Using a self-custody wallet does not typically require registration by the individual, but it does not remove tax obligations or documentation expectations; users should keep clear records of purchases, transfers, swaps, and disposals so gains, losses, and income can be reported correctly. Some banks and payment providers may apply their own risk controls around transfers to and from crypto platforms, so users may encounter practical friction even when the underlying activity is lawful.
PayPal availability for purchasing Bitcoin in Norway depends on the specific service route. Some crypto platforms may support PayPal-funded purchases or deposits in certain cases, but many do not due to chargeback and fraud-risk controls, and availability can vary by provider and user verification status. Where PayPal is supported, users should expect identity checks, potentially higher fees, and limits that depend on the platform’s compliance and risk settings.
To buy Tether in Norway, individuals typically use a crypto exchange or broker that lists the stablecoin and supports onboarding for Norwegian residents. The usual flow is to complete identity verification on the platform, fund the account using the supported payment method (commonly bank transfer or card, depending on the provider), and then place an order for the stablecoin. Practical banking considerations can matter, including a bank’s willingness to process payments to particular platforms and the platform’s own requirements for source-of-funds information.
Bitcoin mining is generally lawful in Norway, but it can trigger ordinary business, tax, and local compliance considerations depending on scale (for example, zoning, noise, and commercial electricity arrangements). Norway’s electricity pricing is market-based and can be attractive in some regions, but miners should not assume dedicated government subsidies specific to crypto mining; any favorable power costs typically come from standard industrial contracts, local grid conditions, or general schemes that are not exclusive to mining and may change based on policy and eligibility criteria.
On taxation, cryptoassets are generally treated as taxable assets in Norway, and taxpayers are expected to report disposals and income tied to crypto activity. As a rule of thumb, gains and losses on sales, exchanges between cryptoassets, and spending crypto can be taxable events, while income-like receipts (such as rewards that function like compensation or yield) may be taxed when received, with later disposal potentially creating an additional gain or loss based on value changes. The applicable tax rate will typically follow the ordinary income tax rate for individuals, and accurate recordkeeping is essential for cost basis, acquisition dates, fees, and fair value at the time of each taxable event.
Legal ways to reduce crypto-related taxes in Norway tend to be documentation- and planning-driven rather than loophole-driven. Common approaches include ensuring all allowable losses are captured and reported, deducting eligible transaction costs where permitted, maintaining consistent cost-basis tracking so gains are not overstated, and planning disposals with an eye to offsetting gains with realized losses when that matches the taxpayer’s broader financial situation. For higher-activity traders or mining operations, it can also be important to assess whether the activity resembles a business in substance, since that can affect how income, expenses, and reporting are treated under Norwegian rules.
Crypto
Bitcoin ETFs Cap Week With $225 Million Outflow as Ether Hits 8-Day Slide
Bitcoin, Ether ETFs Deepen Losses as Weekly Selling Peaks
The week did not end quietly. Instead, it closed with conviction, and not the kind bulls would have hoped for.
Bitcoin ETFs recorded a steep $225.48 million in net outflows, marking one of the largest single-day withdrawals of the week. The selling was concentrated, but decisive. Blackrock’s IBIT accounted for the overwhelming majority, shedding $201.53 million alone. Bitwise’s BITB followed with $18.60 million in outflows, while Ark & 21Shares’ ARKB posted a smaller $5.35 million exit.
There were no inflows to soften the blow. Trading activity remained robust at $3.39 billion, yet net assets fell sharply to $84.77 billion, underscoring the weight of sustained redemptions.
Ether ETFs extended their losing streak to eight consecutive days, with total outflows reaching $48.54 million. Once again, Blackrock’s ETHA led the decline, posting a $70.80 million withdrawal. Fidelity’s FETH followed with $8.92 million in outflows, while Grayscale’s Ether Mini Trust lost $8.68 million.
Still, one fund continued to defy the trend. Blackrock’s ETHB attracted $39.86 million in inflows, reinforcing its growing appeal among investors. Its staking component appears to be drawing attention, even as broader sentiment around ether remains weak. Trading volume stood at $1.16 billion, with net assets closing at $11.52 billion.
Elsewhere, the picture was quieter but no less telling. XRP ETFs saw no trading activity, with net assets slipping to $933.33 million. Solana ETFs faced heavier pressure, recording a $7.84 million outflow entirely from Bitwise’s BSOL. Trading volume reached $45.21 million, while net assets declined to $809.62 million.
The pattern is hard to ignore. Capital is leaving the space at a steady pace, particularly from flagship bitcoin and ether products. Even isolated inflows are no longer enough to change the broader direction.
In summary, Friday capped a difficult stretch for crypto ETFs. Bitcoin led with a sharp outflow, ether extended its losing streak despite selective interest, solana weakened further, and XRP remained sidelined. The market closes the week on uncertain footing, with sentiment clearly under strain.
FAQ 📊
- Why did Bitcoin ETFs see such a large outflow on Friday?
The sharp outflow was largely driven by a significant withdrawal from Blackrock’s IBIT, reflecting continued institutional selling pressure. - What is causing Ether ETFs’ extended outflow streak?
Ether ETFs are experiencing persistent redemptions, mainly from Blackrock’s ETHA, indicating weaker investor confidence than bitcoin’s. - Why is Blackrock’s ETHB still attracting inflows?
ETHB’s staking feature is likely appealing to investors seeking yield, making it stand out even during broader market outflows. - What does continued inactivity in XRP ETFs suggest?
It indicates limited investor engagement and a wait-and-see approach, with capital focusing elsewhere in the crypto ETF market.
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