Crypto Weekly Recap: Strategy Adds $740M to Bitcoin Holdings, CoinDCX Launches Bounty, and India Tightens Tax Enforcement

Trump Media bought $2 billion in Bitcoin, with the majority of its $3 billion liquid assets now in BTC. Strategy added 6,220 BTC worth $739.8M, pushing its total to 607,770 Bitcoin. CoinDCX offers an $11 million bounty to recover $44 million stolen in a cyberattack. India intensifies cryptocurrency tax enforcement with AI systems and international data-sharing agreements. JPMorgan halts Gemini's account opening process.

Trump Media and Technology Group, the social media company owned by former President Donald Trump, has made a significant move in the cryptocurrency space. The company has announced a $2 billion purchase of Bitcoin and related securities, as part of its "bitcoin treasury plan" [1]. This strategic investment marks a shift in the company's focus, aiming to create a reserve of the cryptocurrency and explore new investment products, including exchange-traded funds (ETFs).

The Bitcoin purchase, which amounts to approximately 60,000 BTC, represents a substantial portion of Trump Media's liquid assets. The company has set aside an additional $300 million for an "options acquisition strategy for bitcoin-related securities," signaling its intention to continue expanding its cryptocurrency holdings [1]. This move aligns with the broader trend of companies adopting a crypto treasury strategy, similar to how they might invest in traditional assets like bonds, to ensure financial flexibility and hedge against market volatility [1].

Meanwhile, India has been intensifying its regulatory efforts on cryptocurrencies, with a notable 63% year-on-year surge in crypto tax collections reported for the fiscal year 2023–24. The Indian government has implemented advanced data analytics tools and forensic capabilities to combat tax evasion in the digital asset sector [2]. The revenue growth reflects India's growing integration of crypto into mainstream finance, but investor sentiment remains divided. While stricter compliance could deter speculative trading, it may also attract institutional capital if market growth offsets administrative costs [2].

In another development, Tyler Winklevoss, co-founder of Gemini, has accused JPMorgan Chase of halting Gemini's account opening process following his public criticism of the bank's new fee structure for fintech companies [3]. Winklevoss argued that JPMorgan's policy changes, which impose fees on platforms like Plaid for retrieving customer banking information, create artificial barriers for fintech companies and stifle crypto adoption [3].

The crypto landscape continues to evolve, with companies and governments adopting diverse strategies to navigate the complexities and opportunities presented by digital assets. As these developments unfold, the financial community will closely monitor the impact on market dynamics and regulatory compliance.

References:
[1] https://www.cbsnews.com/news/trump-media-2-billion-bitcoin-crypto-treasury-strategy/
[2] https://www.ainvest.com/news/india-crypto-tax-revenue-surges-63-advanced-analytics-crackdown-intensifies-2507/
[3] https://www.coindesk.com/business/2025/07/26/winklevoss-claims-jpmorgan-halted-gemini-onboarding-after-data-access-fees-criticism