Bitcoin Tumbles, Marathon Accumulates!

Marathon Digital boosted its BTC holdings with a $45.9 million purchase despite market volatility.

Danielle du Toit
October 13, 2025

Here's what we've got for you today:

BTC Mining Firm Marathon (MARA) Scoops Up 400 BTC After Price Crash, On-Chain Data Shows
Trump Reportedly Leaning Toward Pardon for Binance’s CZ
Steak ‘n Shake Quickly U-Turns as Ether Poll Angers Bitcoiners
Binance Pays $283 Million in Compensation Following Friday's Depegs, Covering User Losses

Marathon Digital boosted its Bitcoin holdings with a $45.9 million purchase despite market volatility.

Marathon Digital Holdings bought an additional 400 BTC worth approximately $45.9 million through FalconX, according to Arkham Intelligence data.
The firm now holds roughly 52,850 BTC, which is valued at about $6.06 billion.
Marathon’s September production rose 5% month-over-month, generating 218 blocks even as global hashrate increased 9% to an average of 1,031 EH/s.

Reports suggest the Trump administration may pardon Binance founder Changpeng “CZ” Zhao.

The Trump administration is reportedly considering a pardon for Binance co-founder Changpeng “CZ” Zhao, who served four months in prison for a 2024 money laundering violation under the Banking Secrecy Act.
Sources referred to by Fox Business suggest Trump insiders believe Zhao’s case was overly harsh and that a pardon could enable his return to Binance.
The administration has shown a pro-crypto stance by advancing new regulatory frameworks and issuing pardons to people like BitMEX’s Arthur Hayes and Silk Road’s Ross Ulbricht.

Steak ‘n Shake very quickly dropped plans to accept Ethereum payments after Bitcoin fans pushed back.

Steak ‘n Shake suspended its poll about accepting Ethereum payments after backlash from Bitcoin supporters, and reiterated its loyalty to Bitcoin.
The poll initially showed 53% of nearly 49,000 votes in favor of adding Ethereum before the company halted it, stating, “Our allegiance is with Bitcoiners.”
The fast-food chain began accepting Bitcoin in May across multiple countries and has since seen a 15% year-on-year sales increase.

Binance paid $283 million in compensation after USDe, BNSOL, and WBETH briefly depegged during the weekend’s market turbulence.

Binance compensated users with a total of $283 million after three Binance Earn assets — USDe, BNSOL, and WBETH — temporarily depegged during Friday’s market volatility.
The depegging primarily affected Binance’s platform, with Ethena’s USDe briefly dropping below $0.66, though prices on other exchanges remained stable.
Ethena Labs CEO Guy Young clarified that the event was not a true depeg, and attributed it to price discrepancies limited to Binance’s trading venue.

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