How Jeremy Sturdivant spent the 10,000 Bitcoin pizza fortune

Jeremy Sturdivant, the 19 year old who received 10,000 Bitcoin for two pizzas in May 2010, spent almost all of it long before BTC crossed even $1, let alone todays five figure levels.In 2010, 10,000 BTC was worth about $40 to $41 and bought two Papa Johns pizzas for Laszlo Hanyecz in Jacksonville.Sturdivant later said he spent the coins on travel and goods as Bitcoins price climbed from fractions of a cent to under $1.At Bitcoins November 2021 peak near $69,000, that same 10,000 BTC would have been worth around $690 million.  Jeremy Sturdivant, known as “jercos” on the Bitcointalk forum, was the counterparty to Laszlo Hanyeczs now legendary 10,000 BTC pizza purchase on May 22, 2010.  How did Jeremy Sturdivant end up with 10,000 BTC for pizza?  The deal that turned into Bitcoin Pizza Day began on the Bitcointalk forum on May 18, 2010, when Florida programmer Laszlo Hanyecz offered 10,000 BTC to anyone willing to get him “a couple of pizzas” delivered to his home.  Four days later Hanyecz posted, “I just want to report that I successfully traded 10,000 bitcoins for pizza. Thanks jercos!” confirming that forum user Jeremy “jercos” Sturdivant had stepped in, paid for two large Papa Johns pizzas

05-23

Ripple backs Squids $6M cross-chain round

Ripple joined a $6M funding round for cross-chain infrastructure platform Squid.North Island Ventures led the $6M strategic round, with Ripple, Dialectic, and Borderless also participating.Squid has routed over $6 billion in volume through more than 4 million transactions since its January 2023 launch.The new funding brings Squids total raised to $13.5 million and will fund consumer-facing product expansion.  Cross-chain platform Squid raised $6 million in strategic funding to build new consumer-facing products that simplify how users move assets across blockchains. North Island Ventures led the round, with Ripple, Dialectic, Borderless, Scenius Capital, Altos, and Arche Capital also participating.  Angel investors including Axelar co-founder Georgios Vlachos, Enso Finance founder Connor Howe, and Constructive founder Dan Lynch joined as well. Squids pseudonymous co-founder Fig declined to disclose the valuation or round structure.  What Squid does and why Ripple invested  “The vision is to make directly accessing whatever you need in crypto as simple as the cross-chain swaps Squid already handles today,” Fig told The Block.  Squid‘s application allows users to move assets across fundamentally different blockchain ecosystems, including Bitcoin, Ethereum, Solana, Cosmos, and the XRP Ledger, in a single transaction. Squid serves as the official bridge partner for the XRP Ledger and operates a validator on the

05-23

Kevin Warsh Takes Fed Chair Oath as FOMC Gives Unanimous Backing

Tech  Kevin Warsh Takes Fed Chair Oath as FOMC Gives Unanimous Backing  Kevin Warsh took the oath of office as chairman and a member of the Federal Reserve Board on May 22, completing the transition from Jerome Powell, whose chair term concluded on May 15. The Federal Reserve Board named Powell chair pro tempore pending Warsh‘s swearing-in. President Donald Trump nominated Warsh on March 4, and the Federal Open Market Committee (FOMC) selected him as its chairman on May 22, placing him at the head of the central bank’s rate-setting panel.  Warsh was confirmed by the United States Senate as a Board member on May 12. Senators confirmed him as chairman on May 13. His term as chairman runs through May 21, 2030, while his Board term extends through January 31, 2040. The Federal Reserve announced:  “Kevin Warsh on Friday took the oath of office as chairman and a member of the Board of Governors of the Federal Reserve System.”  “Also on Friday, the Federal Open Market Committee unanimously selected Warsh as its chairman,” the Fed said.  He now leads the Federal Open Market Committee, the Federal Reserve panel responsible for setting benchmark U.S. interest rates and directing monetary policy operations. The role places him at

05-23

Nashville Rep pushes Bitcoin reserve bill

A Bitcoin reserve bill to codify Trumps executive order gained a Nashville champion.Rep. Matt Van Epps framed the American Reserve Modernization Act as an extension of Nashvilles growing Bitcoin ecosystem.ARMA would lock federally held Bitcoin for a minimum of 20 years and authorize Treasury to acquire up to 1 million BTC over five years.Van Epps cited the $39 trillion national debt as the central argument for the legislation.  Rep. Matt Van Epps told Bitcoin Magazine that the American Reserve Modernization Act of 2026 is a direct reflection of what he sees happening in his own district. “Nashville is one of the nation‘s leading Bitcoin hubs,” Van Epps said, pointing to Bitcoin Park, the city’s digital asset community, and the annual Bitcoin conference returning to Nashville in 2027.  Van Epps is one of 18 original cosponsors of ARMA, introduced on May 21 by Rep. Nick Begich alongside Democratic co-lead Rep. Jared Golden. The bill would codify President Trumps March 2025 executive order establishing a Strategic Bitcoin Reserve, giving it statutory permanence that no future administration could reverse with a pen stroke.  What the ARMA bill would actually do  “With a national debt of $39 trillion, this is an essential piece of legislation,” Van Epps said.

05-23

NIGHT up +4.39%, BTC -2.58%, Midnight is The Coin of The Day - Daily Market Update for May 23, 2026 | CoinCodex

Key highlights:The total cryptocurrency market cap decreased from $ 2.57T to $ 2.52T in the past 24 hours, representing a -2.27% changeThe Bitcoin price at press time is $ 75,484 after falling by -2.58% in the last 24 hoursThe total crypto trading volume decreased by -2.27% in the past 24 hours, and is currently at $ 212.08BAll prices and changes are presented at the time of publication: May 23, 2026, at 06:00 UTC  Market Overview  The total cryptocurrency market cap is currently $ 2.52T after a -2.27% decrease on the day. The total crypto trading volume declined by -2.27% in the same time frame.  Bitcoin is trading at $ 75,484 after seeing a -2.58% loss in the last 24 hours. The Bitcoin dominance fell by -0.07% and BTC currently represents 60.11% of the cryptocurrency market.  Top Coins By Market Cap  At press time, Bitcoin has a market capitalization of $ 1.51T after losing -2.58% in the last 24 hours. According to our forecast, the value of Bitcoin will drop by null% and reach null by May 23, 2026. To learn more about how the price of Bitcoin could change over the next 7 days, visit our Bitcoin price prediction page.  Ethereum, which is the second-largest cryptocurrency

05-23

Old economy cash flows vs future mobility bets: Why TSLA vs FORD is becoming a different trade

Ford spent most of the EV boom trying to prove it could go toe-to-toe with newer competitors on electric vehicles while simultaneously modernizing everything else. The tone around the business sounds a lot more defensive these days.  Its EV division is still bleeding money, and leadership has visibly shifted focus toward managing those losses rather than racing to scale. The ambition is smaller than it was.  Per Reuters, Fords Model e unit lost close to $4.8 billion in 2025, with another $4 billion to $4.5 billion in losses projected for 2026.  So Ford leaned into hybrids. It leaned into restructuring. It leaned into whatever corners of the business could generate something resembling a reliable return. During the height of EV enthusiasm, plenty of investors read that as a retreat — the old guard waving the white flag. Todays market seems considerably more willing to take a patient approach to EV expansion if it means the rest of the business stops hemorrhaging money.  Then came the write-down that made the strategic pivot official.  Ford recorded a $19.5 billion charge connected to scaling back earlier pieces of its EV strategy.  A charge that size hitting a few years ago would have genuinely rattled sentiment. These days, the reaction

05-23

Congress hits Polymarket and Kalshi with a massive insider trading probe

The U.S. House Oversight Committee plans a probe into the largest prediction market platforms over suspicions that government employees could be exploiting classified information for personal gain.  Rep. James Comer, R-Ky., chair of the House Oversight and Government Reform Committee, is seeding the internal records from the CEOs of Polymarket and Kalshi to determine if government employees are using insider knowledge to profit from policy and geopolitical and military operations, he said on CNBCs Squawk Box on Friday.  “There‘s a concern now that members of Congress, members of the president’s administration, any type of government employee, can use basic insider knowledge and make huge profits on anything government-related,” Comer told CNBC.  “So we want to not only launch an investigation to see how widespread this has been thus far, but also to prove a case that we‘ve got to pass some type of legislation,” Comer added. “And I think it wouldn’t be too much to ask to say members of Congress can‘t participate in the predictions market, nor can government employees or people in the president’s administration.”  Comers probe is the most recent in a series of attempts by Congress to investigate prediction markets and bring insider trading under control.  In letters sent Friday to

05-23

Ghana Rolls Out 2025 Crypto Law as Regulators Target Fraud and AML Risks

Crypto  Ghana Rolls Out 2025 Crypto Law as Regulators Target Fraud and AML Risks  Ghana has rolled out a legal framework to regulate virtual assets as adoption accelerates across the economy, according to the countrys 2025 Financial Stability Review.  The development is a direct consequence of the passage of the Virtual Asset Service Providers Act of 2025, a legal framework establishing licensing protocols and supervisory mandates for all digital asset stakeholders. According to regulatory bodies, the law serves a dual purpose: enhancing the state‘s oversight capabilities over a volatile, fast-growing market, and ensuring Ghana’s alignment with global financial intelligence and anti-money laundering standards.  The review, issued under the Financial Stability Council, said more than 3 million Ghanaians now use cryptocurrencies, driven by demand for alternative investments, cross-border payments, and digital financial services.  “The rapid expansion in the use of cryptocurrencies presents both opportunities and risks, including potential challenges for anti-money laundering and counter-terrorism financing compliance,” the report said.  The review warned that rising crypto activity could expose the financial system to fraud, illicit financial flows, and exchange rate pressures if left unregulated.  To implement the new law, the Securities and Exchange Commission and the Bank of Ghana are developing licensing rules, governance standards, and risk management requirements

05-23

Polymarket hit with congressional probe over classified-info betting claims

The U.S. House Committee on Oversight and Government Reform has opened an investigation into Polymarket and Kalshi over concerns tied to insider trading and wagers allegedly linked to classified information.James Comer launched a congressional probe into Polymarket and Kalshi over suspected insider trading and classified-information betting activity.Lawmakers cited reports of suspicious Iran-related wagers and a federal case involving a U.S. Army sergeant accused of using classified information to make over $409,000 in prediction market profits.The investigation comes as Polymarket faces mounting pressure from regulators and a recent suspected exploit tied to its UMA CTF Adapter contract on Polygon.  According to a statement released by the committee, Chair James Comer sent formal letters to Polymarket CEO Shayne Coplan and Kalshi CEO Tarek Mansour requesting internal records and compliance details related to user activity on their platforms.  The committee said it wants to assess how the companies detect suspicious trading, verify customer identities, and enforce geographic restrictions designed to comply with U.S. regulations.  In the letters, Comer said prediction market operators hold the internal data needed to identify whether users are trading with access to non-public information. He also raised concerns that offshore platforms may be allowing users to bypass federal compliance rules.  Congressional scrutiny intensified

05-23

Iran peace rumors add $400B to US stocks at open

President Donald Trump has been dangling the prospect of a “definitive” peace deal for weeks and previously agreed to a two week ceasefire that sent Bitcoin back above $70,000 and pushed US stock futures sharply higher, as covered in earlier crypto market outlook and ceasefire reports.  Now, reports of Qatari involvement in Tehran talks add another layer to that diplomatic track, following earlier coverage that Pakistan has been shuttling messages and hosting face to face rounds between US and Iranian negotiators.  For crypto markets, every incremental sign of de escalation has repeatedly acted as a macro catalyst, with prior US Iran ceasefire headlines coinciding with multi percent intraday swings in Bitcoin, Ethereum and broader digital assets.  Still, some observers urged caution, with one X user warning that the latest surge looked like “merely paper liquidity” and “just a one day joyride for the Wall Street bulls,” highlighting how quickly those hundreds of billions in added market cap can evaporate if talks stall again.

05-23
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