Today in cryptocurrency, Roger Ver reportedly reached an agreement with the US Department of Justice to avoid jail time over tax matters. Luxembourg’s sovereign wealth fund has made its first Bitcoin ETF investment, with trader Peter Brandt saying Bitcoin could be nearing an all-time high or a “dramatic” surge.
Roger Ver reaches tentative agreement with US Department of Justice over tax dispute: report
Bitcoin advocate Roger Ver, known to many in the cryptocurrency industry as “Bitcoin Jesus,” has reportedly reached an agreement with the U.S. Department of Justice that could potentially avoid a prison sentence.
The New York Times reported Thursday that Barr’s lawyers have reached a tentative agreement with U.S. authorities that would require Bitcoin (BTC) supporters to pay $48 million in taxes owed on their holdings of the cryptocurrency. The Justice Department indicted Barr in April 2024 on charges of mail fraud and tax evasion and sought his extradition from Spain to stand trial.
The New York Times reported that Barr has ties to people connected to President Donald Trump’s administration, including hiring a lawyer who previously worked for the president. It is also reported that Trump paid political consultant Roger Stone $600,000 to lobby for changes to the U.S. tax code.
The reported agreement follows a series of regulatory and legal actions under the Trump administration that softened litigation involving digital assets. At the time of publication, the tentative agreement was not on the public docket in Barr’s case in the U.S. District Court for the Central District of California.
The first indictment alleges that Mr. Ver made false statements on tax forms related to his cryptocurrency holdings. He and his two companies, MemoryDealers and Agilestar, reportedly held approximately 131,000 BTC in 2014. The Justice Department said he attempted to avoid paying taxes on his assets by renouncing his U.S. citizenship and later becoming a citizen of St. Kitts and Nevis.
Luxembourg sovereign wealth fund invests 1% in Bitcoin ETF
Luxembourg’s sovereign wealth fund has allocated 1% of its portfolio to Bitcoin exchange-traded funds (ETFs), one of the first such moves by a European government-backed investment entity.
Luxembourg Finance Secretary and Secretary General Bob Kiefer mentioned the investment in a LinkedIn post on Wednesday. He said Finance Minister Gilles Roux revealed the decision during the presentation of the 2026 budget in the Luxembourg parliament.
“In recognition of the growing maturity of this new asset class and underscoring Luxembourg’s leadership in digital finance, this investment is an application of FSIL’s new investment policy approved by the government in July 2025,” Kiefer said.
Luxembourg’s Intergenerational Sovereign Wealth Fund (FSIL) has reportedly invested 1% of its assets in Bitcoin ETF products. Considering that the fund had approximately 764 million euros (approximately $888 million) in assets under management as of June 30, this equates to an approximately $9 million investment in the Bitcoin ETF.
If Bitcoin doesn’t hit a ceiling soon, we expect a ‘dramatic’ surge: Peter Brandt
According to veteran trader Peter Brandt, Bitcoin is poised for unprecedented price discovery unless it reaches an all-time high in the coming days.
“It’s reasonable to expect a bull market high now,” Brandt told Cointelegraph on Wednesday, citing Bitcoin’s (BTC) historical cycle pattern that has played out over the past three cycles.
“Although the cycle from low to halving to high was not always the same length, the distance after each halving was always equal to the distance before the halving,” Brandt said.
“Sooner or later, cycles will change, but betting against a cycle with a perfect 3-3 record should not be done recklessly,” he said.
Brandt said he was 50-50 about the outcome. “I remain bullish and look for countercyclicality. In this case, my prediction would be a move well above $150,000 and perhaps as high as $185,000,” Brandt said.
