Bitcoin Privacy Battle: Coinbase Takes IRS to Supreme Court Over User Data

In a landmark case that could redefine financial privacy in the cryptocurrency era, Coinbase has filed an amicus brief with the U.S. Supreme Court challenging the IRS’s 2016 demand for 14,000 user records. The exchange argues that the IRS’s application of the third-party doctrine—which removes privacy protections for data shared with intermediaries like crypto platforms—sets a dangerous precedent for unchecked financial surveillance. This case, stemming from Bitcoin researcher James Harper’s legal challenge, represents a critical juncture for digital asset privacy rights and could have far-reaching implications for how regulatory agencies access user data on blockchain platforms. As of May 2025, this Supreme Court battle emerges amid growing institutional adoption of Bitcoin, potentially influencing both market sentiment and the regulatory framework governing cryptocurrency exchanges. The outcome may establish crucial precedents balancing financial transparency with the privacy expectations of crypto users—a debate becoming increasingly relevant as Bitcoin continues its mainstream integration.

Coinbase Challenges IRS Crypto Data Request in Supreme Court Brief

Coinbase has entered a pivotal U.S. Supreme Court case, filing an amicus brief in Harper vs IRS to contest the agency’s sweeping 2016 demand for 14,000 user records. The exchange argues the IRS’s reliance on the third-party doctrine—which negates privacy protections for data shared with intermediaries like crypto platforms—sets a dangerous precedent for financial surveillance.

The case stems from Bitcoin researcher James Harper’s 2020 lawsuit accusing the IRS of overreach. Coinbase’s intervention signals growing industry pushback against regulatory dragnets, with implications for how blockchain transactions balance transparency and privacy. The outcome could redefine compliance standards for exchanges handling BTC, ETH, and other digital assets.

The Buried Bitcoin: A High-Stakes Treasure Hunt

A discarded hard drive containing 8,000 Bitcoin—now valued at over $800 million—has become the centerpiece of a new multi-platform docuseries. Entertainment company LEBUL secured exclusive rights to the story of James Howells, the British engineer who lost access to his Bitcoin fortune in 2013. The project, titled ’The Buried Bitcoin: The Real-Life Treasure Hunt of James Howells,’ will span a premium docuseries, podcast, and social media campaign.

Howells’ decade-long quest to recover the hard drive from a Welsh landfill mirrors a modern-day treasure hunt. Reese Van Allen of LEBUL describes it as a "live-action tech thriller," blending human drama with cryptocurrency’s high-stakes volatility. The narrative underscores Bitcoin’s transformation from digital curiosity to institutional asset class.

Bitcoin Volatility Plummets to 16% After April Spike

Bitcoin’s short-term realized volatility has sharply declined to 16%, marking a significant drop from the 94% peak observed on April 12. The earlier spike coincided with a dramatic intraday price swing, as BTC plummeted $3,124 to $82,747 before recovering to $85,270.

Realized volatility, which measures actual price fluctuations rather than market expectations, serves as a critical metric for analysts. It provides insight into option pricing, signals regime shifts ahead of price trends, and helps assess whether implied premiums or leverage levels appear excessive.

BTC Price Path To $155k As New Highs Look Imminent

Bitcoin’s resurgence in April has reignited bullish sentiment across crypto markets. The asset now consolidates NEAR $94,000, with technical indicators suggesting a potential rally toward $155,400 in coming months.

Institutional demand appears robust—spot Bitcoin ETFs recorded 31,324 BTC in inflows last week, marking the highest weekly volume since November. This accumulation phase occurs despite macroeconomic uncertainties that previously triggered liquidity withdrawals.

Bitcoin Seoul 2025 to Host Global Industry Leaders for Asia’s Largest Bitcoin-Focused Conference

Seoul will welcome the cryptocurrency elite as Bitcoin Seoul 2025 convenes from June 4–6 at Signiel Seoul and SKY31 Convention. The event solidifies its position as Asia’s premier Bitcoin gathering following a successful 2024 debut that featured thought leaders like Saifedean Ammous and Jimmy Song.

The conference emerges as a critical node in Bitcoin’s global ecosystem, attracting thousands of professionals to discuss the digital asset’s evolution. Institutional interest continues growing as listed companies join innovators at this flagship forum.