Michael Howell warns the liquidity cycle is peaking, debt risks are rising, and gold and Bitcoin are key hedges against monetary inflation.

Key Takeaways
-------------

![TFTC - 40-Year Wall Street Vet Warns: 6 Months Before the Bubble Bursts (Bitcoin Next?) | Michael Howell](https://www.tftc.io/content/images/2025/08/Michael-Howell.jpg)

Michael Howell warned that the global financial system is nearing the peak of its liquidity cycle, with debt refinancing risks mounting as trillions in cheap, long-dated obligations begin to roll over. The Fed and Treasury are effectively engaged in stealth yield curve control, suppressing volatility to keep the system stable, but this path risks “Japanification” and entrenched monetary inflation. With 80% of global lending collateral-based, stability in Treasury markets has become critical, while China’s aggressive liquidity injections and gold monetization signal a shift toward hard assets. Howell argued that gold and Bitcoin stand out as essential hedges, with Bitcoin’s strategic value rising as an independent, long-term safe asset outside government control.

Best Quotes
-----------

“Almost every financial crisis, if you look back, has been a debt refinancing crisis in some way.”

“In 4,000 years of recorded interest rate history, there’s no mention of zero rates, until COVID.”

“What they want is yield curve control. They can’t afford volatility in collateral markets because 80% of global lending now depends on collateral.”

“If I’m optimistic about gold, I have to be optimistic about Bitcoin.”

“What would happen if you could only invest in short-dated government debt or Bitcoin?”

“The U.S. may be the cleanest shirt in the laundry, but it’s still in the laundry.”

Conclusion
----------

Howell sees the system entering a dangerous phase where liquidity is peaking, debt pressures are intensifying, and policymakers have few tools left beyond suppressing volatility and monetizing debt. This will drive monetary inflation, erode real wealth, and make hard-asset hedges indispensable. Gold and Bitcoin, he argues, are positioned to benefit most, with Bitcoin in particular evolving from a liquidity-sensitive risk asset into a strategic safe haven in a world of accelerating debt cycles and weakening fiat credibility.

Timestamps
----------

0:00 - Intro
1:12- Big day at Jackson Hole
7:57 - Bessent’s contradictions
14:03 - Yield curve control
18:35 - Bitkey & Unchained
20:16 - AI and global liquidity cycle
35:01 - Stablecoins
38:44 - Obscura and Opportunity Cost
40:09 - Mechanics and future of liquidity cycles
46:42 - Questioning AI productivity
52:18 - China’s influence on liquidity cycle

Transcript
----------

(00:00) If you look at the last 5 to 10 years, we've labeled that the everything bubble. Fed liquidity was up 350 billion. The broad balance sheet fell by about 250. You've got liquidity and the balance sheet going in opposite directions. We're talking about taking 3 to400 billion out of money markets.
(00:18) Disconnection from financial markets and the real economy. Almost every financial crisis, if you look back, has been a debt refinancing crisis in some way. 80% of all lending worldwide now is collaterally based. Nowhere in that book is there any mention of zero interest rates. So in 4,000 years we haven't had it, but we did have it in CO. It's a form of yield curve control.
(00:37) What they'd like is JPAL to come interest rates. The US may well be the cleanest shirt in the laundry, but you know, hey, it's in the laundry. We are reaching a peak 6 months, 9 months time. We're clearly getting late in the cycle. Stable coin are a great mechanism to buy treasuries, but it basically creates a sort of virtual circle.
(00:53) So it's effectively printing money. What would happen in the world if you could only invest in shortdated government debt or you can invest in Bitcoin? Why was 2024 so depressed? The Chinese were trying to shadow a strong dollar and they couldn't do it. I'm very optimistic of gold. If I'm optimistic of gold, I got to be optimistic of Bitcoin.
(01:13) Michael How, thank you for joining me again. Big day. Yeah, big day today. Big day out in Jackson Hole. Everybody's waiting with uh baited breath to see what Jerome Pal is going to say. I was watching uh I couldn't sleep this morning. I woke up at 3:30 a.m. and just decided to get up and start working and have been watching CNBC and it's been funny watching their commentary.
(01:37) A lot of back and forth I think considering that this meeting is happening today. Um we'll post this on Monday and so I guess the pressure is on to sort of predict what Jerome Pal is going to do. How would you describe his current predicament and what he may or may not do later today? Well, I think it's it's it's clearly a difficult situation.
(02:01) You know, they uh they always say as an old Irish joke that um where they say to travelers, how do you get from here to Dublin? And the answer is uh well, if I was going to Dublin, I wouldn't be starting from here. And I think that, you know, that's pretty much what I would describe the Fed situation is.
(02:20) I mean Jerome Pal is in a difficult situation given the uh the sort of push back or aggressive push back he gets from the administration. Uh I mean that's for sure. U but I think the other thing is that they kind of painted themselves in a corner a bit. I mean on most on most counts rates should be lower than they are. I think he finds it difficult now to probably admit that.
(02:38) Um so there is some resistance but I think you can see within the FOMC uh there is a growing uh willingness I think to cut interest rates. I think given what's going on internationally and uh with rates and maybe as well what's happened lately to the dollar the rally uh the weakening in the US economy. I think there's grounds for for rates to be cut. That's for sure.
(03:01) I think the more difficult question, which is, you know, something I'm sure we're going to dig into, is really what happens to the Fed balance sheet, uh, the Fed operating system, you know, looking at longer term because they've been promising us some information about the new operating, uh, uh, procedures of the Fed for a long time now and nothing's come out. So I kind of expect or maybe maybe think that they're going to do something announce something at Jackson Hole about the new operating procedures that they've been talking and thinking about for some time now. Uh that that may come out in an
(03:31) announcement. But I think the the the more fundamental question is what happens to liquidity and really the size of the balance sheet. And I think that's relevant given the fact that if you look over the first six, seven months of the year, uh Fed liquidity, the amount of money that the Federal Reserve injects into money markets, actually was up 350 billion.
(03:59) Uh even though the overall balance sheet uh itself, the broad balance sheet fell by about uh 250 billion. So you've got liquidity and the balance sheet going in opposite directions. And that's kind of because uh there are you know other ways of injecting liquidity into the system apart from the headline balance sheet um you know number uh and that's things like the treasury general account the reverse repo program uh etc.
(04:19) And they've been actually positively buzzing and actually adding money to markets which is why risk assets have kind of done so well over the last few months. Uh the question is that if the Treasury is insisting on rebuilding that account, their account at the Fed, the Treasury General account which was forcibly run down because of the debt ceiling, if that now is rebuilt in the second half of the year, then a lot of liquidity is going to come out of markets.
(04:43) Now, that's what investors are fearing. I don't think it's going to come to that because I just don't think they're in a position where they can do that. And that's why I say I think the Fed has kind of painted itself into a corner a bit here. Yeah. in terms of choreographing or making the market aware of new operations.
(05:02) Can we dive into that in in terms of what they may or may not change or what the market is looking for them to change? Yeah, I think that a lot of the market talk is really about whether they're going to change, you know, average inflation targeting to, you know, maybe change the nuance of that.
(05:21) Could they, you know, change the symmetry in uh in that in that gold? That could be done. um you know for example I think that that's one of the things that is sort of high on the agenda as a change um there could be more technical things about um uh uh about how their operating procedures are changed I mean that that may be necessary but I would say you know one of the things that may come in and this has been mooted in terms of what the Fed has wanted to do is maybe they're going to announce that they're going to be uh a bigger buyer of Treasury bills in the market uh than
(05:52) they have been now one of the things that was suggested or has been suggested uh in speeches over recent months is that the makeup of the uh Federal Reserve's holdings of government debt the uh the SOM account, the so-called SO account is generally vested in longer duration treasuries. So things like 10-year notes for example, and that's not really um the sort of representative of the average mix of treasury debt uh out there in the market.
(06:23) uh there's as you know there's been a lot of very very short-term issuance uh operating particularly under Yelen but you know Scott Besson's continued that and so the treasury is slated to issue a lot more bills now on the one hand that's uh you know playing to this whole argument about stable coins being big buyers of treasuries in the future and they like bills sure I I go along with that but then the Federal Reserve should be matching if you like in it hold in its sr account u the average uh mix of debt in the market and the moment they're not
(06:55) uh their s account is too heavily weighted to longe


Miljan Braticevic argues Nostr and Bitcoin offer the only path to true online sovereignty.

Key Takeaways
-------------

![TFTC - Insider Reveals UK's Secret Plan to Freeze Your Savings & Censor You! | Miljan Braticevic](https://www.tftc.io/content/images/2025/08/Miljan-Braticevic.jpg)

The episode highlights the UK’s escalating internet controls, age verification laws, VPN bans, and censorship, and their implications for personal freedom, framing open protocols like Nostr as the only real alternative. Unlike closed platforms dominated by corporations, Nostr distributes power across thousands of relays, giving users sovereign control over their identity, money, and speech. Braticevic points to innovative use cases such as Jack Dorsey’s mesh-network “Bit Chat,” AI-driven app creation, and Bitcoin micropayments, arguing that Nostr’s openness, not just censorship resistance, is the true breakthrough. He likens the ecosystem’s small but passionate user base to Bitcoin’s early days, noting that its resilience and flexibility make it uniquely suited to outlast and outperform closed networks.

Best Quotes
-----------

“Once you go down this path of trying to control everything, where does it end? We want to be free.”

“Open protocols give us that chance to fight back and resist… with closed platforms, one rule change is the end of the story.”

“We’re not fighting the existing system, we’re building a new one and enabling people to join if they wish.”

“This type of architecture is extremely resilient and hard to stop… Nostr is about building an internet worth having.”

“Nostr in my mind has no competitors. If you want a truly sovereign network where users hold the keys to their existence, this is it.”

“The killer feature of Nostr isn’t censorship resistance, it’s openness. Data can be recombined in endless ways to build experiences impossible in closed silos.”

“AI, Bitcoin, and Nostr together form an extremely exciting intersection. AI agents will need sovereign money and open protocols to function.”

“We want Nostr to be the best place for creators of high-signal, long-form content… with open monetization models that work across clients.”

“The passion of Nostr’s early adopters reminds me of Bitcoin in the early days, it’s the strongest signal that this will endure.”

“If you’re in the UK or anywhere facing these policies, get on Nostr before you need it. You already need it.”

Conclusion
----------

This episode underscores the urgent stakes of today’s digital landscape. As Western governments like the UK pursue aggressive censorship and control, the choice becomes stark: submit to closed systems where accounts and speech exist at the mercy of authorities, or embrace open protocols that guarantee sovereignty. Miljan Braticevic presents Nostr as the foundation for a new internet, one built on openness, interoperability, and Bitcoin-backed incentives. Though adoption is still small compared to mainstream platforms, the passion, creativity, and steady infrastructure growth mirror Bitcoin’s own trajectory. The episode’s core message is clear: resilience and freedom must be built proactively. By adopting Nostr, supporting open-source tools, and experimenting with these systems now, individuals and creators can prepare for a future where sovereignty over money and speech is not optional but essential.

Timestamps
----------

0:00 - Intro
0:31 - Creating freedom apps
12:29 - Who runs the relays? Not comparable to Bluesky
17:53 - Bitkey & Unchained
19:34 - Boostrapped by bitcoiners
24:47 - Primal features tease
33:52 - Obscura & Opportunity Cost
35:17 - UK going full Orwell
42:00 - AI - open source models and open data
54:23 - Nostr as marketplace - also the Great Intersection
59:49 - Looking forward over the next year
1:04:32 - Fountain
1:14:45 - Primal publisher

Transcript
----------

(00:00) Once you go down this path of trying to control everything, where does it end? We want to be free. People who like to censor and all these monstrous organizations, they're doing their thing and we're doing our thing. We're just building a new system and enabling people to join them as they wish. The majority of the internet is controlled by five corporations.
(00:20) Open protocols give us that chance to kind of fight back and resist us. The bar for usability is being set by these multi-billion dollar companies who've been at it for, you know, 10 years plus. \[Music\] Million, is it me or is the world going crazy? I guess those two are not mutually exclusive, right? But uh the world's getting crazier by the day for sure.
(00:47) Yeah, more interesting, more chaotic. Yeah, it feels like uh feels like we're we're at like a hard not a hard fork, but like a fork in the road and there's things are incredibly exciting, powerful, and optimistic. And then you have other things like uh I originally reached out was like three or four weeks ago you were on a little vacation.
(01:21) So we scheduled it for this but it was talk about the UK aid verification laws censorship and the importance of open protocols like Noster but things have just escalated since then. They want to ban VPNs now. Totally. I mean once you go down this path of trying to control everything like where does it end? You you kind of really need to uh you know close all the exits as they like to say all the escape routes. Yeah.
(01:46) Well, I mean it ends uh I don't want to smirk here but it ends typically with campsuffering mass death if you continue continue down the path. That's why it's important to leverage the tools that we have today in terms of open protocols um and the communications technology to get the message out. That's the big agreed.
(02:13) That's the big question I have is like are we at a point in human history where we have all these tools at our fingertips? Can we actually use them to prevent at least in western society the devolution into pure Orwellian socialist communist authoritarian hellscape? Well, the open protocols give us that chance, right? Like if if we're clos if we're using the legacy closed systems, we just don't have a chance, right? Like because that's a single throat to choke.
(02:47) If uh any government uh makes any new rule that forbids uh you know certain type of speech um if you're dealing with a closed platform it's the end of the story you know they'll just have to tell X or whoever you know close this down and companies need to apply comply and that's the end of it that content already exists only exists behind their kind of wall in their walled garden since they fully control it they and they certainly can comply and the governments know that.
(03:22) Uh when it comes to open protocols, I don't think we automatically win by default just because we're using open protocols. Open protocols give us that chance to kind of fight back and resist this. But there's still quite a bit of work uh that needs to be done um by a lot of people to um to win, so to speak. And I'm not like super gloomy about all of these things that are, you know, that we're seeing everywhere.
(03:50) Um, I kind of look at it more from the point of view of, hey, this is, you know, this is a test for us. This is something that's uh that's giving us an opportunity to grow, to uh step up, assert our own sovereignty uh over our online lives, over our wealth, our money, our transactions, and so forth.
(04:15) Um there are a number of us who build tools uh for people who wish to step up and use them and uh like I said we we get that opportunity and it's up to us to see how we're going to use the tools uh to assert our our sovereignty. Yeah. Somebody on the the bleeding edge of the open protocol that is Noster, what are what are some of the unique ways you've observed people not only leveraging Primal but just leveraging Noster to really stick a eye in the or needle in the eye of sensors or creating cool applications that that leverage Nostra relays in some way to create
(04:57) robust applications that that are very hard to censor. Yeah. I don't even think it's about sticking a needle in the eye of anyone, you know. It's just like we we want to uh be free. uh we you know the people who out there who would like to censor and all these you know monstrous organizations they're doing their thing and we're doing our thing.
(05:20) We're we're not necessarily fighting the existing system. We're just building a new system and uh enabling people to join them as they wish. Right. And to answer your question, lots of new stuff being built all the time. Uh a lot of it is really exciting. Um, you know, not even talk about Primal.
(05:44) So, outside of Primal, the the cool things we've seen on Nostra recently, um, is, uh, for example, Jack Dorsey's Bit Chat, uh, app, which he vibe coded over a weekend, which uses uh, Bluetooth enabled mesh network to communicate with devices that are in close proximity to you.
(06:13) close proximity meaning you know 20 30 mters maybe 100 ft or so and then you know you can so you can kind of relay messages directly uh to one another without even needing an internet connection and then when any one of these users gets an internet connection they can you know upload those signed messages to any relay and then replicate them further.
(06:40) So this is a really neat use case which I think uh this kind of network topology I think is extremely um appropriate for Nostra. It's Noster is perfect for this because the protocol is so simple and it's comprised just out of signed messages and each of these signed messages exist can exist on its own. kind of has meaning just uh each individual message on its own kind of stands uh on the firm legs so to speak so to speak.
(07:13) Uh so the more of these messages you have the more you sense you can make out of the network and uh you can broadcast them you know to those that are close to you. You can broadcast them to relays. You can index them. Index them and so forth. If they get deleted from any relays, you can repost them to other relays. This t


There is a way to transfer money directly to a bank account by sending a BTC transaction: the Bull Bitcoin service. The post Paying to an IBAN… in Bitcoin appeared first on Atlas21.

[![](https://i0.wp.com/atlas21.com/wp-content/uploads/2025/08/Banner-Bull-Bitcoin-ENG.png?resize=976%2C75&ssl=1)](https://app.bullbitcoin.com/registration/atlas21)

**_There is a way to transfer money directly to a bank account by sending a BTC transaction: the Bull Bitcoin service._**
-------------------------------------------------------------------------------------------------------------------------

Despite it being possible to exchange goods and services in bitcoin since its early years, its adoption as a payment method remains still limited. What Bitcoin is facing, and will have to continue to face in the coming years, is the process of monetary evolution.

Today, in fact, there are still few businesses that directly accept bitcoin payments. In most cases, bitcoiners find themselves forced to convert their funds into fiat currency to be able to make daily payments. However, this barrier is starting to fade thanks to the emergence of new services.

Over the years, the market has witnessed the birth of various services specialized in facilitating bitcoin payments. Among the pioneers in the sector stands out **Bitrefill**, a platform that allows purchasing gift cards and topping up services using bitcoin directly. Over time, similar solutions have developed that allow paying for various goods and services.

Last January, when **Bull Bitcoin** extended its services to the European market, a new possibility was made available. The Canadian broker, known for its Bitcoin-only philosophy and strictly non-custodial approach, offers a solution that **allows paying any service or entity that accepts bank transfers in euros using bitcoin directly**. This means being able to make payments to suppliers, public entities, companies, individuals and even top up debit cards linked to an IBAN, all without ever having to manually convert bitcoin into fiat currency.

### **How it works**

The process for making payments through Bull Bitcoin is simple and intuitive. Here is the step-by-step procedure:

1.  Account creation

The first step consists of [registering](https://app.bullbitcoin.com/registration/atlas21) on Bull Bitcoin. The process is as follows:

*   visit the Bull Bitcoin [website](https://www.bullbitcoin.com/);
*   click on “Sign up”;
*   enter the required data (email and password);
*   confirm the email and complete the account verification.

2\. Access to the “Send fiat payments” function

Once you have logged into your verified account:

*   navigate to the main menu;
*   click on “**Send fiat payments**“;
*   this function will allow you to use your bitcoins for payments in euros to any European IBAN.

![](https://i0.wp.com/atlas21.com/wp-content/uploads/2025/08/901.jpg?resize=501%2C479&ssl=1)

3\. Entering recipient data

The system will require you to enter the beneficiary’s information:

*   **recipient’s IBAN**: enter the complete IBAN code of the service or person who must receive the payment or select an existing beneficiary;
*   **beneficiary’s name**: specify the exact name as registered with the bank.

![](https://i0.wp.com/atlas21.com/wp-content/uploads/2025/08/902.jpg?resize=519%2C460&ssl=1)

![](https://i0.wp.com/atlas21.com/wp-content/uploads/2025/08/903.jpg?resize=517%2C631&ssl=1)

4\. Defining the amount and completing the payment

The last step of the process is as follows:

*   **enter the amount in euros** you wish to send (Bull Bitcoin will detect the exact amount even if you send more satoshis);
*   the system will automatically calculate the bitcoin equivalent at the current exchange rate;
*   **payment reference**: add a payment description (bill, service, invoice, etc.) so that the beneficiary knows it is you paying (avoid mentioning bitcoin in the description);
*   send to the BTC/Liquid address or pay the Lightning Network invoice. The exchange rate will be locked as soon as Bull Bitcoin detects the transaction;
*   as soon as the exchange receives the funds, it will pay your beneficiary through one of its bank accounts.

![](https://i0.wp.com/atlas21.com/wp-content/uploads/2025/08/5.jpg?resize=451%2C403&ssl=1)

![](https://i0.wp.com/atlas21.com/wp-content/uploads/2025/08/6.jpg?resize=441%2C622&ssl=1)

![](https://i0.wp.com/atlas21.com/wp-content/uploads/2025/08/7.jpg?resize=448%2C275&ssl=1)

**The possibility of paying any service that accepts bank transfers in euros using bitcoin** directly eliminates one of the main barriers to adoption as a medium of exchange, simplifying the daily life of bitcoiners and offering the opportunity to live in the Bitcoin Standard without having to continuously resort to conversions into fiat currency. It is a real bridge between the Bitcoin ecosystem and the traditional banking system.

* * *

_Bull Bitcoin is the world’s longest-running Bitcoin-only exchange. Strictly non-custodial. Try it [here](https://app.bullbitcoin.com/registration/atlas21)._

The post [Paying to an IBAN… in Bitcoin](https://atlas21.com/paying-to-an-iban-in-bitcoin/) appeared first on [Atlas21](https://atlas21.com).


Japan’s Financial Services Agency (FSA) is preparing a reform to align crypto taxation with that of equities, paving the way for spot ETFs. The post Japan moves toward a 20% flat tax on cryptocurrencies appeared first on Atlas21.

**_Japan’s Financial Services Agency (FSA) is preparing a reform to align crypto taxation with that of equities, paving the way for spot ETFs._**
-------------------------------------------------------------------------------------------------------------------------------------------------

The **FSA** is planning a tax reform that could reshape how Japanese investors approach digital assets. [According](https://www.nikkei.com/article/DGXZQOUB216I60R20C25A8000000/) to the business daily _Nikkei_, the Japanese FSA intends to submit a proposal to revise the tax code for the 2026 fiscal year. The goal is to align the tax treatment of cryptocurrencies with that of listed **stocks**.

The official request for revision is expected to be submitted by the end of August, _Nikkei_ sources report. If approved, the reform would take effect in the 2026 fiscal year.

The reform introduces a **20% flat tax** on gains from cryptocurrency trading. Currently, crypto income is classified as _“miscellaneous income”_ and subject to a progressive rate that can reach **up to 55%,** excluding local taxes.

### **Industry requests**

Crypto companies have submitted specific proposals to make Japan’s tax environment more competitive. Among them is the introduction of a **three-year carry-forward mechanism** for losses, which would allow investors to offset future profits with past losses.

### **Outlook for spot ETFs**

The new framework goes beyond tax revisions. The FSA is also working to facilitate the launch of domestic **crypto ETFs** by Japanese firms, aiming to strengthen the competitiveness of the country’s digital asset industry.

In parallel with the tax reform, the agency is preparing a bill for 2026 that would bring cryptocurrencies under the supervision of the **Financial Instruments and Exchange Act**, classifying them as _“financial products”_ rather than _“means of payment”_ regulated by the Payment Services Act.

### **First regulated stablecoin**

In a broader context of openness toward digital assets, the FSA is also preparing to approve Japan’s first **yen-denominated regulated stablecoin**. **JPYC**, issued by the Tokyo-based fintech of the same name, plans to release stablecoins worth 1 trillion yen (about $6.78 billion) over three years. The approval, expected in the fall, represents another key step in Japan’s strategy to promote crypto adoption.

The post [Japan moves toward a 20% flat tax on cryptocurrencies](https://atlas21.com/japan-moves-toward-a-20-flat-tax-on-cryptocurrencies/) appeared first on [Atlas21](https://atlas21.com).


The country’s bitcoin reserves come mainly from mining operations, not from seizures as initially speculated. The post UAE holds $700 million in bitcoin from mining appeared first on Atlas21.

**_The country’s bitcoin reserves come mainly from mining operations, not from seizures as initially speculated._**
-------------------------------------------------------------------------------------------------------------------

According to an [analysis](https://x.com/arkham/status/1960002768703270959) conducted by blockchain analytics platform **Arkham Intelligence**, the **United Arab Emirates** (UAE) owns around **$700 million** in bitcoin. This sum was accumulated primarily through mining activities.

> BREAKING: THE UNITED ARAB EMIRATES IS NOW ON ARKHAM
>
> The UAE’s $700M BTC holdings are now labeled on Arkham. These holdings come from Bitcoin mining operations carried out by Citadel, a public mining company majority owned by UAE Royal Group through IHC.
>
> Arkham is the first to… [pic.twitter.com/eIGut5pJXN](https://t.co/eIGut5pJXN)
>
> — Arkham (@arkham) [August 25, 2025](https://twitter.com/arkham/status/1960002768703270959?ref_src=twsrc%5Etfw)

Unlike other nations such as the **United States** and the **United Kingdom**, the UAE’s bitcoins do not come from the confiscation of criminal assets. Arkham Intelligence revealed in a post on X that the government’s wallets contain roughly **6,300 BTC**, all obtained through legitimate mining operations.

The main source of these bitcoins is **Citadel Mining**, a company **85%** owned by **2pointzero**, which in turn belongs to International Holding Company (IHC). IHC is **61%** owned by **UAE Royal Group**, a conglomerate controlled by **Sheikh Tahnoon bin Zayed Al Nahyan**, a member of Abu Dhabi’s royal family.

In total, Arkham estimates that through Citadel, the Emirates have mined approximately 9,300 BTC over the course of their operations.

According to **BitBo** [data](https://bitbo.io/treasuries/countries/), with these recently confirmed reserves the UAE ranks sixth among state-level bitcoin holders, behind Bhutan (10,565 BTC) and ahead of El Salvador (6,280 BTC).

BitBo estimates that governments collectively hold around **517,000 BTC**, representing **2.4%** of total supply with a value exceeding **$56 billion.**

The post [UAE holds $700 million in bitcoin from mining](https://atlas21.com/uae-holds-700-million-in-bitcoin-from-mining/) appeared first on [Atlas21](https://atlas21.com).


The Philippine Congress is moving toward the adoption of Bitcoin as a national strategic asset with a proposed accumulation plan. The post Philippines: proposal for a 10,000 BTC strategic reserve with a 20-year lock-up appeared first on Atlas21.

**_The Philippine Congress is moving toward the adoption of Bitcoin as a national strategic asset with a proposed accumulation plan._**
---------------------------------------------------------------------------------------------------------------------------------------

The **Philippines** could become one of the first nations to adopt Bitcoin as a national strategic reserve. A new legislative proposal introduced by Congressman **Miguel Luis Villafuerte** outlines a plan for the acquisition and long-term custody of bitcoin.

The [proposed law](https://docs.congress.hrep.online/legisdocs/basic_20/HB00421.pdf), called **House Bill 421**, establishes a detailed framework for creating a strategic reserve. The plan requires the Philippine central bank, **Bangko Sentral ng Pilipinas**, to purchase **2,000** bitcoins annually over **five consecutive years**, thereby reaching the final target of **10,000** BTC.

The proposal emphasizes the importance of secure custody. The acquired bitcoins must be held in **cold storage**, an offline method that provides protection against cyberattacks and digital theft.

The bill requires quarterly reserve audits by independent third parties. These reports must be published online to ensure transparency. The proposal also explicitly protects private property rights, affirming that individuals and businesses remain free to buy, hold, and trade bitcoin without government interference.

The 20-year lock-up period established by the bill highlights a long-term vision that reflects confidence in Bitcoin’s future price growth. During this period, Philippine authorities will be prohibited from selling or exchanging the bitcoins, except for the repayment of national public debt.

At the end of the lock-up period, the central bank governor may sell up to **10%** of the bitcoins in any two-year period.

Congressman Villafuerte emphasized that _“the increasing significance of BTC in ensuring financial and economic prowess across continents makes it imperative for the country to take significant legislative measures.”_

According to **Bitbo** [data](https://bitbo.io/treasuries/countries/), world governments collectively hold **517,296** bitcoins, corresponding to **2.46%** of the total supply capped at around 21 million units. However, their reserves mainly come from confiscations and legal seizures.

The post [Philippines: proposal for a 10,000 BTC strategic reserve with a 20-year lock-up](https://atlas21.com/philippines-proposal-for-a-10000-btc-strategic-reserve/) appeared first on [Atlas21](https://atlas21.com).


Financial experts warn that yields on stablecoins could trigger a massive outflow of capital from traditional banks. The post Stablecoin yields: Citigroup warns of the risk of a bank deposit exodus appeared first on Atlas21.

**_Financial experts warn that yields on stablecoins could trigger a massive outflow of capital from traditional banks._**
--------------------------------------------------------------------------------------------------------------------------

According to a **Citigroup** executive, the introduction of **stablecoin yields** could spark a large-scale flight of deposits from banks, echoing what happened in the 1980s with money market funds.

On August 25, **Ronit Ghose**, head of Citi’s Future of Finance, published a report equating the potential outflows caused by stablecoin yields with the boom in money market funds in the late 1970s and early 1980s, as [reported](https://www.ft.com/content/7c4746d7-02e8-4c60-a96c-b51eb21a7bf1) by the _Financial Times_.

During that period, money market funds grew exponentially from about **$4 billion** in 1975 to **$235 billion** in 1982, surpassing banks whose deposit rates were tightly regulated. Federal Reserve [data](https://www.federalreservehistory.org/essays/glass-steagall-act) shows that withdrawals from bank accounts exceeded new deposits by **$32 billion** between 1981 and 1982.

### **The impact of stablecoins on funding costs**

**Sean** **Viergutz**, leader of banking and capital markets advisory at **PwC**, shared concerns about stablecoin yields. According to him, a shift by consumers toward high-yield stablecoins could create serious challenges for the banking sector.

_“Banks may face higher funding costs by relying more on wholesale markets or raising deposit rates, which could make credit more expensive for households and businesses,”_ Viergutz said.

### **The regulatory battle**

The **GENIUS Act** prohibits stablecoin issuers from offering interest to holders but does not extend this ban to exchanges or affiliated businesses. This regulatory framework has sparked a strong reaction from the banking industry.

Several U.S. banking associations, led by the Bank Policy Institute, have urged local regulators to close what they describe as a loophole that could indirectly allow stablecoin issuers to pay yields.

In a recent letter, the organization argued that this alleged regulatory gap could disrupt the flow of credit to U.S. businesses and households, potentially triggering deposit outflows of **$6.6 trillion** from the traditional banking system.

### **The crypto industry’s response**

The digital asset industry has not remained silent in the face of banks’ concerns. Two sector organizations have urged lawmakers to reject proposals aimed at closing the so-called _“yield loophole.”_

They warned that such regulatory changes would tilt the playing field in favor of traditional banks, stifling innovation and consumer choice in the stablecoin sector.

The post [Stablecoin yields: Citigroup warns of the risk of a bank deposit exodus](https://atlas21.com/stablecoin-yields-citigroup-warns-of-the-risk-of-a-bank-deposit-exodus/) appeared first on [Atlas21](https://atlas21.com).


Bitcoin Treasury: Do Companies Now Exist Solely to Hold Bitcoin?

Bitcoin as a digital asset has grown from a niche technology to a recognized financial instrument over the…

Bitcoin as a digital asset has grown from a niche technology to a recognized financial instrument over the past decade. Unlike traditional currencies, no government or central bank controls it, and its supply is limited to 21 million coins. These characteristics have made it attractive to both individual investors and companies looking for new ways to manage their wealth.

In recent years, more businesses have started holding bitcoin as part of their financial reserves. From technology firms to payment companies and even mining operations, bitcoin is increasingly appearing on corporate balance sheets.

This raises an interesting question: Do companies exist just to hold bitcoin, or is holding bitcoin simply part of a broader [financial strategy](https://lightning.news/retail-investors-all-in-on-bitcoin-etfs/)?

This article explores that question by looking at what a Bitcoin treasury is, why companies adopt it, and whether some companies are now built entirely around this idea.

Table of Contents
-----------------

*   [What Is a Bitcoin Treasury?](#what-is-a-bitcoin-treasury)
*   [Why Companies Hold Bitcoin in Their Treasury](#why-companies-hold-bitcoin-in-their-treasury)
*   [Major Companies Holding Bitcoin in 2025 (With Real Examples)](#major-companies-holding-bitcoin-in-2025-with-real-examples)
*   [Publicly Traded Companies Actively Holding Bitcoin in 2025](#publicly-traded-companies-actively-holding-bitcoin-in-2025)
*   [Private Companies Actively Holding Bitcoin in 2025](#private-companies-actively-holding-bitcoin-in-2025)
*   [Institutional & Government Holdings of Bitcoin in 2025](#institutional-government-holdings-of-bitcoin-in-2025)
*   [Do Any Companies Exist Solely to Hold Bitcoin?](#do-any-companies-exist-solely-to-hold-bitcoin)
*   [The Risks and Criticisms of Bitcoin Treasuries](#the-risks-and-criticisms-of-bitcoin-treasuries)
*   [Conclusion](#conclusion)

**What Is a Bitcoin Treasury?**
-------------------------------

A Bitcoin treasury refers to a company holding bitcoin as part of its reserve assets. Instead of keeping all of its funds in traditional assets like cash, bonds, or real estate, it allocates a portion to bitcoin. This is usually a deliberate financial strategy designed to strengthen the company’s balance sheet.

Holding bitcoin in a treasury works much like other strategic asset holdings, such as gold or foreign currency reserves. It allows companies to diversify their assets, protect themselves from economic shifts, and potentially benefit from price growth over time.

There is an important distinction to make here:

*   **Some companies hold bitcoin as one of many assets.** For them, bitcoin is just a small part of a much larger strategy.

*   **Other companies or funds exist primarily to hold bitcoin.** These firms often raise capital with the specific intention of buying and managing bitcoin as their primary business activity.

This means that, unlike regular businesses (like Tesla or Coinbase) that have other core operations, these companies exist mainly to accumulate and manage bitcoin as an asset.

*   They usually raise money from investors (through stock sales, funding rounds, or other capital raises).

*   They use most of that money to buy bitcoin and then hold it as their primary asset.

*   Their business model is tied directly to the value of bitcoin; if bitcoin goes up, the company’s value rises, and vice versa.

Examples of such companies include:

*   **MicroStrategy (Strategy)** started as a software company, but it’s now primarily seen as a bitcoin holding company.

*   **Twenty One Capital** was explicitly created to build a large bitcoin treasury as its core activity.

*   **Bitcoin ETFs (like BlackRock’s iShares Bitcoin Trust)** exist solely to hold bitcoin on behalf of investors.

So, these companies don’t use bitcoin as a side asset; they’re built around the idea of holding and growing bitcoin reserves.

**Why Companies Hold Bitcoin in Their Treasury**
------------------------------------------------

Companies add bitcoin to their reserves for several reasons. Each reason reflects both financial strategy and how they see the future of money.

****1\. Hedge Against Inflation and Currency Risks****

Traditional currencies lose value over time due to inflation and economic fluctuations. Bitcoin, on the other hand, has a fixed supply, which makes it attractive to companies that want to protect part of their capital from currency devaluation.

This is particularly relevant in times when interest rates are low, and the value of holding large amounts of cash is eroded by inflation. Several companies view bitcoin as a way to preserve their purchasing power over the long term.

****2\. Potential for Long-Term Capital Growth****

Bitcoin has shown significant price growth over the years, despite its volatility. Companies like Strategy (formerly MicroStrategy) have experienced substantial increases in their balance sheet value thanks to their bitcoin holdings.

For companies willing to take on the risk, holding bitcoin offers a chance to benefit from future price appreciation and increase shareholder value.

****3\. Diversification of Assets Beyond Fiat, Bonds, and Equities****

Relying too heavily on traditional assets can expose companies to market risks tied to those instruments.

By adding bitcoin to their reserves, firms introduce a non-correlated asset, one that doesn’t always move in the same direction as stocks or bonds. This diversification can make their overall financial position more resilient.

****4\. Brand Positioning and Innovation Appeal****

Holding bitcoin isn’t just a financial move; it also shapes how the public and investors view a company. Businesses that adopt bitcoin early are often seen as innovative and forward-thinking.

This can attract a new type of investor, strengthen the company’s brand, and generate media attention. For example, [Tesla’s announcement of Bitcoin purchases created global headlines and boosted its image as a tech pioneer](https://www.google.com/amp/s/www.cnbc.com/amp/2021/02/08/tesla-buys-1point5-billion-in-bitcoin.html).

**Major Companies Holding Bitcoin in 2025 (With Real Examples)**
----------------------------------------------------------------

A wide range of companies, from publicly traded firms to private businesses and even institutional entities, now hold bitcoin on their balance sheets as part of a strategic reserve. This isn’t a fringe move: it’s becoming mainstream across industries.

Let’s look at the latest figures on bitcoin holdings (mid‑2025) to understand how significant this trend has become.

**Company**

**Industry**

**BTC Held**

**Estimated Value (2025)**

**Notes**

**1\. Strategy (MicroStrategy)**

Software / Treasury firm

[628,791BTC](https://bitcointreasuries.net/?utm_source=)

$73 billion

Largest corporate holder (3% of supply)

**2\. Marathon Digital (MARA**)

Bitcoin mining

[50,000 BTC](https://bitcointreasuries.net/?utm_source=)

$5.7 billion

Mining-based treasury holdings

**3\. Twenty One Capital (XXI)**

Bitcoin-native treasury

[43,514BTC](https://bitcointreasuries.net/?utm_source=)

$5.15 billion

Backed by Tether/SoftBank, Jack Mallers’ firm

**4\. Trump Media & Technology (DJT)**

Trump Media & Technology (DJT)

[18,430 BTC](https://bitcointreasuries.net/?utm_source=)

$2 billion

Raised capital to build BTC reserves

**5\. Metaplanet Inc.**

Hospitality & crypto

[17,595 BTC](https://bitcointreasuries.net/?utm_source=)

$2 billion

“Bitcoin hotel” venture

**6\. Riot Platforms**

Bitcoin mining

[19,225 BTC](https://bitcointreasuries.net/?utm_source=)

$2.2 billion

Miner-turned-BTC treasury firm

**7\. CleanSpark**

Solar + mining

[12,608 BTC](https://bitcointreasuries.net/?utm_source=)

$1.45 billion

Energy-mining operations hold bitcoin

**8\. Coinbase**

Crypto exchange

[11,776 BTC](https://bitcointreasuries.net/?utm_source=)

$1.35 billion

Natural reserve for exchange operations

**9\. Tesla**

Electric vehicles

[11,509 BTC](https://bitcointreasuries.net/?utm_source=)

$1.32 billion

Strategic diversification into bitcoin

**10\. Hut 8 Mining Corp.**

Canadian mining company

[10,273 BTC](https://bitcointreasuries.net/?utm_source=)

$1.18 billion

Large miner holding bitcoin reserves

******Quick Analysis******

MicroStrategy (now Strategy) leads by a wide margin, holding nearly 3 % of the total bitcoin supply, valued at over $70 billion, clearly setting the tone in the corporate bitcoin narrative.

*   Mining companies like Marathon, Riot, CleanSpark, and Hut 8 naturally accumulate bitcoin through their operations, turning it into a treasury asset.

*   Bitcoin-native firms like Twenty One Capital (founded by Jack Mallers and backed by Tether/SoftBank) are explicitly built to hold bitcoin as their core business model.[
    ](https://treasuries.bitbo.io/?utm_source=chatgpt.com)
*   Non-crypto businesses, such as Tesla and Metaplanet, use bitcoin as strategic diversification rather than core operations.

*   Trump Media represents a newer entrant that raised $2 billion specifically to build a bitcoin reserve, highlighting how media or thematic firms are entering this space.

**Publicly Traded Companies Actively Holding Bitcoin in 2025**
--------------------------------------------------------------

Publicly traded companies are businesses listed on stock exchanges that issue shares to the public. When these companies hold bitcoin in their treasuries, it’s a strategic decision that impacts not only their balance sheets but also their stock prices, since investors closely watch their exposure to bitcoin. Examples include;

****1\. MicroStrategy (Strategy)****

Leading the pack, this software company has transformed itself into a bitcoin treasury powerhouse. With over 628,000 BTC and billions in unrealized gains, it’s redefining what it means to be a public company in today’s bitcoin-infused economy.

****2\


What are the best Stripe alternatives today? When it comes to online payment processing, Stripe has long dominated…

Table of Contents
-----------------

*   [Why Consider Stripe Alternatives?](#why-consider-stripe-alternatives)
*   [The Complete List of Best Stripe Alternatives](#the-complete-list-of-stripe-alternatives)
*   [Additional Notable Mentions](#additional-notable-mentions)
*   [How to Choose the Right Stripe Alternative](#how-to-choose-the-right-stripe-alternative)
*   [Conclusion](#conclusion)

What are the best Stripe alternatives today? When it comes to online payment processing, Stripe has long dominated the conversation. However, with its complex pricing structure and limited customization options for certain businesses, many entrepreneurs and companies are actively seeking viable Stripe alternatives. Whether you’re a SaaS startup, e-commerce store, or global enterprise, choosing the right payment processor can significantly impact your bottom line and customer experience.

> [Flash Launches Free Bitcoin Invoicing Tool](https://lightning.news/flash-launches-free-bitcoin-invoicing-tool/)

Why Consider Stripe Alternatives?
---------------------------------

Before diving into our comprehensive list of the best Stripe alternatives, it’s worth understanding why businesses are exploring [alternatives to Stripe](https://lightning.news/stripe-alternatives-2025/). While Stripe offers robust features and excellent developer tools, some businesses face challenges with [pricing transparency](https://www.forbes.com/advisor/business/software/top-stripe-alternatives/), limited global coverage, or specific industry requirements that Stripe doesn’t fully address.

![best stripe alternatives - Woman using smartphone for online shopping with credit card in hand, festive background lighting.](https://lightning.news/wp-content/uploads/2025/08/230544-1024x683.jpeg "27 Best Stripe Alternatives To Accept Payments In Your Business 11")

The Complete List of Best Stripe Alternatives
---------------------------------------------

Based on extensive research and analysis of the payment processing landscape, here are 27 proven best Stripe alternatives that could be the perfect fit for your business:

### 1\. **[Frame](https://framepayments.com/)** – Simplified Payment Solutions

Frame positions itself as making “payments easier” with a streamlined approach to payment processing. This platform focuses on reducing complexity while maintaining robust functionality for modern businesses, offering straightforward pay-as-you-go pricing with no setup charges or monthly fees.

### 2\. **[Lemon Squeezy](https://www.lemonsqueezy.com/)** – The SaaS-Focused Alternative

Dubbed as “acq’d by Stripe,” Lemon Squeezy offers a comprehensive solution specifically designed for digital product sales and SaaS businesses. It provides strong customer support, built-in analytics, and handles payments, subscriptions, global tax compliance, and fraud prevention in one platform.

### 3\. **[Gumroad](https://gumroad.com/)** – Creator Economy Champion

Gumroad has carved out a niche serving creators and small businesses by providing tools for selling digital products, physical goods, and subscriptions. It’s particularly popular among content creators, artists, and independent entrepreneurs who want to experiment with various ideas and formats. Therefore it should be considered as one of the best Stripe alternatives.

### 4\. **[Paddle](https://www.paddle.com/)** – All-in-One SaaS Commerce

Paddle caters to SaaS and software companies by offering a comprehensive platform with billing, licensing, and global tax handling capabilities. It’s designed to be a complete solution for subscription-based businesses, handling payments, tax, and subscription management in one platform.

### 5\. **[FastSpring](https://fastspring.com/)** – Global E-commerce Specialist

FastSpring specializes in e-commerce solutions for software and SaaS companies, with a focus on global payments and subscription management. According to [TechnologyAdvice](https://technologyadvice.com/blog/sales/stripe-alternatives/), it’s particularly strong for international transactions and helps companies sell more, stay lean, and compete big.

### 6\. **[2Checkout](https://www.2checkout.com/)** – Versatile Payment Solutions

2Checkout (now part of Verifone) offers versatile payment solutions excelling in global payments, subscription billing, and digital commerce. It’s an all-in-one monetization platform that maximizes revenues and makes global online sales easier, supporting over 200 countries and territories.

### 7\. **[Payoneer](https://www.payoneer.com/)** – Cross-Border Payment Expert

Payoneer simplifies cross-border payment solutions, offering local payment ease globally with a focus on market expansion and multi-currency support. It’s trusted by small to medium-sized businesses for global payment solutions and international money transfers.

### 8\. **[Chargebee](https://www.chargebee.com/)** – Subscription Management Leader

Chargebee is a subscription management platform perfect for SaaS and SMBs, with robust billing and revenue management features. It streamlines revenue operations and helps businesses grow efficiently with comprehensive subscription billing capabilities. It definitely should be considered as one of the best Stripe alternatives.

### 9\. **[Maxio](https://www.maxio.com/)** (formerly Chargify) – B2B SaaS Billing

Maxio offers a robust platform for B2B SaaS billing and financial operations, focusing on growth and efficiency for subscription businesses. It’s the most complete financial operations platform for B2B SaaS, bringing core financial operations into one platform.

### 10\. **[Recurly](https://recurly.com/)** – Dynamic Subscription Management

Recurly offers dynamic subscription management platform, excelling in churn management and data insights for subscription growth. It’s the only proven platform that expands and protects your recurring revenue with subscription management, recurring billing, and payments orchestration.

### 11\. **[Braintree](https://www.paypal.com/us/braintree)** – PayPal’s Enterprise Solution

Braintree (by PayPal) provides a versatile global payments platform, integrating multiple payment methods with a focus on conversion and security. It delivers end-to-end checkout experiences for businesses, offering single-touch payments and mobile optimization.

### 12\. **[PayKickstart](https://paykickstart.com/)** – Modern Commerce Platform

PayKickstart offers a modern commerce platform for online billing and affiliates, focusing on revenue maximization and churn minimization. It’s the most complete checkout, recurring billing, affiliate management, and retention solution with global capabilities.

### 13\. **[PayPro Global](https://payproglobal.com/)** – Full-Service E-commerce

PayPro Global offers a full-service eCommerce solution for selling software and SaaS, focusing on global payments, tax compliance, and customer support. It provides flexible solutions with over 70 payment methods and great support for software companies.

### 14\. **[Shopify Payments](https://www.shopify.com/payments)** – E-commerce Integration

Integrated with Shopify, this service is ideal for SMBs in eCommerce, offering a seamless shopping cart and payment experience. It’s the simplest way to accept online payments, automatically set up for major methods with no fees for some payment types.

### 15\. **[Square](https://squareup.com/us/en/payments)** – Versatile POS and Payment Solutions

Square provides versatile POS and payment solutions for small businesses with a strong focus on retail and mobile payments. [Forbes Advisor](https://www.forbes.com/advisor/business/software/top-stripe-alternatives/) notes it as one of the top alternatives for businesses needing both online and offline payment capabilities.

### 16\. **[Zoho Billing](https://www.zoho.com/us/billing/)** – Integrated Business Solution

Zoho Billing is an online recurring billing and subscription management solution, ideal for small and medium-sized businesses seeking professional invoice creation, time and expense tracking, and improved cash flow management.

### 17\. **[WePay](https://go.wepay.com/)** – Chase Company Integration

WePay, a Chase company, provides integrated payment solutions for ISVs and SaaS companies with customizable payment solutions. It’s designed for platforms like marketplaces and small business tools, offering seamless user experience and fraud protection.

### 18\. **[QuickBooks Payments](https://quickbooks.intuit.com/payments/)** – SMB Accounting Integration

This service provides seamless accounting and payment solutions for SMBs and SaaS businesses, featuring real-time tracking and automated bookkeeping. It lets small businesses accept payments online from anywhere with easy integration into QuickBooks accounting.

### 19\. **[Mangopay](https://mangopay.com/)** – Marketplace Payment Infrastructure

Mangopay offers a modular payment infrastructure for marketplaces and platforms, emphasizing flexibility, global payouts, and AI-powered anti-fraud. It uses flexible wallets built to orchestrate fund flows and monetize payment experiences.

### 20\. **[Coinbase Commerce](https://www.coinbase.com/commerce)** – Cryptocurrency Payments

Coinbase Commerce enables businesses to accept payments from around the world using cryptocurrency. It offers instant settlement, low fees, and broad asset support, making it easy for merchants to accept digital currency payments globally.

### 21\. **[BTCPay Server](https://btcpayserver.org/)** – Open-Source Bitcoin Processor

BTCPay Server is a self-hosted, open-source cryptocurrency payment processor with 0% fees and no third-party involvement. It’s secure, private, censorship-resistant, and completely free for businesses wanting full control over their Bitcoin payments.

### 22\. **[Lago](https://www.getlago.com/)** – Open-Source Billing Alternative

Lago is an open-source alternative to Stripe Billing and Chargebee, specializing in billing and metering in one


Unbank CEO: “Keep pushing back on the idea that surveillance is a default”

Emilio’s first bitcoin purchase felt like a drug deal – sweating in a parking lot, cash in hand,…

Emilio’s first bitcoin purchase felt like a drug deal – sweating in a parking lot, cash in hand, uncertain if cops would storm in. That visceral distrust of a broken system birthed Unbank: a guerrilla network turning CVS registers into sovereignty hubs.

While banks slammed doors, he retrofitted ATMs with bitcoin hearts, weaponized Lightning against poverty taxes, and built cash-to-bitcoin ramps where the unbanked shop daily. In a post-FTX world screaming ‘self-custody,’ Unbank delivers it with [Genmega](https://www.genmega.com) guts and [Voltage](https://lightning.news/unbank-chooses-voltage-to-bring-lightning/) veins – because financial inclusion shouldn’t require a passport or pedigree.

> What's your favorite new feature on the Unbank app? ![👀](https://s.w.org/images/core/emoji/16.0.1/72x72/1f440.png) [pic.twitter.com/vqdMJkxKZj](https://t.co/vqdMJkxKZj)
>
> — Unbank: Buy & Sell Bitcoin ![💵](https://s.w.org/images/core/emoji/16.0.1/72x72/1f4b5.png) ![🏧](https://s.w.org/images/core/emoji/16.0.1/72x72/1f3e7.png) ![🚀](https://s.w.org/images/core/emoji/16.0.1/72x72/1f680.png) (@unbankworld) [July 31, 2025](https://twitter.com/unbankworld/status/1951034541847503175?ref_src=twsrc%5Etfw)

Unbank: From Cash to Sovereignty
--------------------------------

*   **You started in 2014 with a single bitcoin ATM in Albany, NY. What personal frustration with traditional finance forced you to bet on bitcoin ATMs? Was there a specific “cash to bitcoin is king” revelation?**

There was a moment the very first time I went to buy my first bitcoin, it was a nightmare. At the time, the easiest way for me to buy bitcoin was on [Localbitcoins.com](http://localbitcoins.com) which was peer-to-peer transactions in cash, meaning it had to be done face-to-face.

The location where I agreed to meet the guy was in a public area, but while doing the transaction, it just felt dirty, like we were doing something illegal. I knew there would be a market for an easier process to be able for every-day people to buy bitcoin with cash.

*   ****Early banks rejected you, and merchants feared bitcoin. How did you turn “No” into having services available in CVS, Walgreens, and Office Depot? What convinced these giants?****

We were pretty lucky to be honest. While we didn’t partner directly with these brands, we partnered with companies that already have services in these retail stores. That really opened up our ability to bring bitcoin and other top digital currencies to a much wider network.

*   **[Unbank](https://unbank.com/) has championed itself as being an easy on ramp for new users.  How does prioritizing cash, privacy, and self-custody reflect your vision of true financial inclusion?**

Most platforms claim they’re “for the people,” but then require a passport scan and a bank account before you can even get started. That’s not inclusion—that’s gatekeeping, not everyone has access to those. We took a different route: start with cash, lite KYC, and let people hold their keys.

Privacy isn’t just a perk—it’s protection for people in marginalized communities. Self-custody isn’t just a feature—it’s empowerment. By making bitcoin as easy to access as a soda or a bus ticket, we’re turning everyday people into participants in a borderless, censorship-resistant economy. That’s the mission: real freedom in the hands of real people.

![screen 1](https://lightning.news/wp-content/uploads/2025/08/screen-1-678x1024.png "Unbank CEO: "Keep pushing back on the idea that surveillance is a default" 8")

**ATMs & Beating the Banks**
----------------------------

*   **Your [partnership](https://lightning.news/unbank-chooses-voltage-to-bring-lightning/) with Voltage powers instant bitcoin buys/sells through the Unbank mobile app. Why was Lightning non-negotiable for scaling? How does slashing fees/time disrupt the “bitcoin is slow” narrative?**

People don’t want to wait ten minutes to pay for something. Lightning fixes that. If we were serious about onboarding everyday users, we had to make bitcoin feel instant, like tapping a debit card.

The idea that bitcoin is slow or clunky? That’s legacy thinking. With Lightning, it’s as fast as cash and way more programmable. We knew we couldn’t scale without it—and honestly, we wouldn’t want to.

*   **Unbank never holds user keys or funds. In a post-FTX world, why is this the right model for mass adoption?**

 It’s honestly a very simple answer. We care. We care about our users’ well-being and financial longevity, and don’t want to risk their money by holding it hostage. After FTX, Celsius, and BlockFi, anyone still asking customers to “trust us” is missing the point. If we can’t build a business where people hold their own keys, then we’re not building for the future—we’re just repeating the past.

*   **You’re expanding your fleet together with partner a ATM network for cash-out. How did that accelerate growth? What features do you plan next – NFC taps?**

We worked with what was already out there. Partnering with existing networks made it faster and cheaper to scale, especially in cities farther away from our home base- to be able to have technicians and armored carriers be able to work with machines they already know is also another factor.

We don’t many features on our machines, what’s important is that it’s easy to use and we need functionality that works for real users. As for what’s next? We’re watching NFC stuff closely, but it’s gotta serve the user, not just look cool.

![Screenshot 2025 08 05 at 3.54.03 PM](https://lightning.news/wp-content/uploads/2025/08/Screenshot-2025-08-05-at-3.54.03-PM-573x1024.png "Unbank CEO: "Keep pushing back on the idea that surveillance is a default" 9")

**Serving the Unbanked: Privacy, Cash & Financial Refugees**
------------------------------------------------------------

*   **How does accepting physical cash protect marginalized users (e.g., people with less economic and financial means) from surveillance?**

Cash doesn’t ask questions. It doesn’t care where you’re from, what your credit score is, or whether you have a bank account account. For countless people, cash is the only tool they trust.

![Location Screen](https://lightning.news/wp-content/uploads/2025/08/Location-Screen-500x1024.png "Unbank CEO: "Keep pushing back on the idea that surveillance is a default" 10")

By keeping it in the mix, we give people a way to participate in the digital economy without being tracked, flagged, or denied. It’s about convenience, just as much as about holding consumer rights and protection high. Unlike digital fiat, we believe cash allows people to execute their right to financial privacy – as it should be.

*   **Unbank offers zero fees on sell transactions. How does this attack the “poverty tax” seen on digital currency exchanges?**

We’ve watched it with other exchanges: people getting hit with high fees while trying to use your money. That’s a poverty tax, plain and simple. Our zero-fee sell option was our way of saying, “You’re not less important because you’re moving $20 instead of $2,000.” Everyone should have a way out—and it shouldn’t cost them extra to take it.

Another reason is that we typically see more demand for buying bitcoin than selling so instead of buying back from exchanges we created a win-win, no fees for users to cash-out, no fees for us to buy back what we sold.

*   **With KYC minimalism, how do you walk the tightrope between regulator demands and Bitcoiners’ right to privacy?**

We comply—but we don’t overreach. We collect only what’s necessary by law and nothing more. In my experience, regulators want to prevent crime, not catalog everyone’s life. There’s room to meet the law and still protect user dignity. Our job is to hold that line and keep pushing back on the idea that surveillance is a default. It’s not.

> There’s room to meet the law and still protect user dignity. Our job is to hold that line and keep pushing back on the idea that surveillance is a default. It’s not.

**Growth & Grit: Scaling Amidst Skepticism**
--------------------------------------------

*   **What tough moment while building a bitcoin centered business in such a volatile market has taught you the most?**

There were weeks when we thought we’d have to shut it all down. ATMs would get vandalized, banks would freeze our accounts with no notice, and headlines would scare off merchants and users alike. But those moments teach you to double down on the mission at hand. You realize real change doesn’t happen without resistance. Every “no” we heard made the next “yes” matter even more.

*   **The Unbank app supports Lightning, has referral codes, and allows you to buy bitcoin with cash at the register or sell bitcoin and withdraw cash from 23,000 ATMs’s without a card. You also support electronic methods for cashout such as PayPal, Venmo, and push to debit card. Why focus on unifying fiat rails instead of digital assets only?**

Because people live in fiat—rent, bills, groceries. If we want bitcoin to work for real people, it has to bridge, not replace, their daily life. Building strong fiat off-rails is what makes bitcoin usable, not just holdable. You can’t have financial inclusion if your only audience is digital asset-native. The app is our way of saying, “Bitcoin is ready for the world. Let’s meet it there.”

**Future of Finance: Bitcoin, Borders & Beyond**
------------------------------------------------

*   **With rising inflation, could Unbank’s network become a Plan B for financial refugees (e.g., Argentina, Lebanon)?**

It already is for some. When your bank account gets frozen or your currency loses half its value overnight, Bitcoin stops being speculative—it becomes survival. Our network, especially the cash-to-crypto infrastructure, gives people a path that doesn’t rely on broken institutions. That’s what makes it powerful. It’s borderless and bankless. While this might only apply to those people in the US right now, we are looking to expand inte


Sazmining Sees $185k Invested In Equity Crowdfunding Round Through TimeStamp

Sazmining, the renewable-powered Bitcoin Mining-as-a-Service company, has attracted over $185,000 in crowd capital. The startup opened its equity…

[Sazmining](https://sazmining.com), the renewable-powered Bitcoin Mining-as-a-Service company, has attracted over $185,000 in crowd capital. The startup opened its equity crowdfunding campaign to the public on the bitcoin funding platform [Timestamp Financial](https://invest.timestampfinancial.com/offering/sazmining/details).

The firm seeks to complete a $618,000 in funding at a $30M valuation cap pre-money. The investment vehicle of choice is a SAFE note which will convert into equity later.

According to founder and CEO Kent Halliburton, the agreed pre-money valuation was determined by taking Sazmining’s proforma financial model projecting EBITDA for 2025 and multiplying it by an Enterprise Multiple. The enterprise multiple used was 75% of the average for AirBNB, Coinbase and MARA’s enterprise multiples.

The round gives anyone the chance to own a stake in Sazmining while supporting its mission: making Bitcoin mining decentralized, sustainable, and accessible.

**Why the Raise?**
------------------

Bitcoin adoption is accelerating, with governments and businesses building treasuries around it. Sazmining believes those treasuries should begin with bitcoin mined directly from the network, not coins bought through centralized exchanges.

“Mining is the most sovereign way to acquire bitcoin,” said Kent Halliburton, CEO and Co-Founder of Sazmining. “This raise allows more people to participate in that mission and benefit from the growth of the mining ecosystem.”

**Powered by Clean Energy**
---------------------------

All Sazmining operations run on renewable energy, with active sites across North and South America as well as Europe. The company has already shown 350% year-over-year growth and aims to use this raise to expand its reach even further.

**How to Participate**
----------------------

The crowdfunding campaign is open to the public and hosted by Timestamp:

[invest.timestampfinancial.com/offering/sazmining/details](https://invest.timestampfinancial.com/offering/sazmining/details)

For those who believe in decentralization, clean energy, and stacking sats the right way, this is the moment to get involved.


It’s not every day you hear about someone taking four round-trip flights from Dublin to Prague to buy…

It’s not every day you hear about someone taking four round-trip flights from Dublin to Prague to buy bitcoin.

Or a barber at a bitcoin castle meetup charging sats for a haircut. Or someone holding up a frozen octopus bought through a bitcoin app.

But these stories aren’t urban legends; they’re real and they’re happening through [Vexl](https://x.com/vexl), a nonprofit, privacy-first peer-to-peer trading platform.

To understand what makes Vexl different, Lightning News sat down with Vexl’s Head of Growth [Grafton](https://x.com/satsdisco?t=m586s5CCzp7JhfvC3-57_A&s=09); who shared the mission, stories, and vision behind the platform that’s quietly building circular bitcoin economies worldwide.

*   **And we began with a simple but important question: what is Vexl, and how does it stand out from other peer-to-peer trading platforms?**

_[Vexl](https://vexl.it/) is a nonprofit app that lets people buy and sell bitcoin privately with friends and friends of friends. No KYC, no middlemen, no data collection._

_What makes it different is the way it works: instead of relying on reputation scores or anonymous strangers, Vexl connects you through your web of trust or your (social graph)._

_That means you see offers from people you’re already connected to directly or through mutual contacts, which makes trading more natural, safer, and closer to how cash works in the real world._

*   **Vexl emphasizes privacy and the concept of building a “web of trust.” Could you explain why these principles are so important to the platform’s vision?**

_Bitcoin was built to be peer-to-peer cash, not a product for financial institutions. Privacy matters because money without privacy is surveillance._

_Trust matters because trading with people in your circle is how real economies grow, and that is what we have truly seen._

_I only trade with people that I am direct friends with or have mutual contacts with._

_This gives me peace of mind that I know the trade is going to go smoothly. We believe this is closer to the spirit of bitcoin than any regulated exchange could ever be._

**Memorable Stories**
---------------------

*   **We’ve heard there are some incredible stories connected to Vexl, involving horses, fish, an octopus, and even a donkey. Could you share one or two of the most remarkable experiences from the platform?**

_I mean, this is the most fascinating part of the app. Originally, we planned for it to be just for buying and trading bitcoin._

_However, we soon discovered that people wanted more. They wanted to grow local circular economies, to trade things other than bitcoin, and to earn bitcoin along the way._

_I think in the first week after the marketplace went live, we started to see offers for things like raw milk and honey, and it just grew from there until we eventually added a dedicated marketplace feature for products and services._

_You can see this now in the app — you open it and choose: I have a product and I want bitcoin, or I have bitcoin and I want a product._

_For me, one of the most remarkable stories I’ve ever heard and personally experienced was when I met a taxi driver in Dublin, Ireland._

_He told me he’d been saving his cash tips for years under his mattress and wanted a way to buy bitcoin without having to KYC on an exchange._

_As a foreigner living in Ireland, he couldn’t purchase from exchanges anyway. We swapped contacts, and he quickly found one of my friends who was willing to sell him bitcoin._

_But because he didn’t have much of a network in Ireland yet, he actually made several trips to Prague to meet one of my friends and buy bitcoin in person._

_To me, this is one of the most amazing stories because it shows how much bitcoin means to some people, and what they’re willing to do to acquire it without permission or KYC._

_I met him for coffee while he was in Prague, because I was blown away by his story. He showed me a photo of his family with his wife and three children. In the photo, his wife was holding a pregnancy test, and he said: “This is why I did it — not for me, but for them.”_

_I mean, imagine that: taking four round-trip flights from Dublin to Prague just to buy bitcoin without KYC._

_Most peer-to-peer apps require you to trade with strangers using a bank account or something that connects to your real name. But on Vexl, you always trade with people you can trust._

_For me, I knew he was a trustworthy guy, and now I always have a great taxi driver in Dublin when visiting. We remain in contact and speak often, and I would even consider him a good friend now._

![image](https://lightning.news/wp-content/uploads/2025/08/image-1024x607.jpeg "The Octopus Purchase: How Vexl Redefines Peer-to-Peer Bitcoin Trading 1")

Screenshot

*   **What’s the most unexpected or creative trade you’ve seen happen through Vexl?**

_I mean, I’ve seen a lot over the years now, but I mean, things like plumbing and heating services stick out because that is like what I want._

_I don’t want to look on the Internet for a plumber who has Google reviews and try to determine what’s real and what’s fake reviews._

_If I need one or an air conditioner repairman, I would love to be able to find one through friends and friends of friends._

_I mean, that’s basically what we do anyway, we’re all familiar with that right? I mean, we meet somebody and we share our experiences, and then we want our friends to have a good time._

_So I think one that surprised me most is recently, I was looking for a physiotherapist and had a difficult time finding one, much to my surprise, but one day I opened (vexl), and there it was low and behold, a physiotherapist offering their services on Vexl for Bitcoin and we had quite a few mutual friends._

_These are the kind of stories that I think are truly amazing. It shows people understand what is possible with (vexl) and are interested in building something different and better than what we currently have, which is gamified ratings systems full of stars and empty trust. I want a world where I am always getting quality trades with people I can trust._

*   **How do these unique trades reflect the culture of peer-to-peer bitcoin transactions?**

_Well, as bitcoiners, we believe in value for value, and I think that’s what Vexl allows us to do. When I connect with people who are connected with me through mutual friends, it’s kind of like having my little support network of people who have skills and services and who trade something that we all value with each other._

_Take Hairtoshi, for example. Recently, I was at a Bitcoin event in Germany, and fiat currency was banned for three days. The only thing that you could spend was Bitcoin._

_I got a haircut with Bitcoin, and this is absolutely part of our culture. It was one of the best haircuts I’ve ever had in my life, and I’m not joking, and what it made me realize is that this is exactly the world that I wanna live in._

_I struggle to find a good barber, and I’ve been to many, many different ones over the years, but I found the best barber at a Bitcoin event in the middle of nowhere, at an old historic castle._

_I paid 21,000 satoshi for a haircut, and I walked away satisfied. I think that this is what we all want to experience, and we all experience our whole life when asking our friends for advice._

_Well imagine not having to ask every time, you just pull up on Vexl and you see a network of people and their skills and services that are in your network and you can see how many mutual friends you have and you can vouch for each other and create a true circular economy that’s based on real experiences and trust with people that you know, but it’s all done in a way that’s private and not annoying._

_No one gets messages when you join Vexl. It’s truly a purely peer-to-peer economy that we can create with this. And by the way, if you want to follow the barber I’m talking about, his X account is_ [**_@Hairtoshi\_2_**](https://x.com/Hairtoshi_21)

**The Octopus Purchase**
------------------------

*   **There’s a fascinating example of someone buying an octopus using bitcoin through Vexl. Can you tell us the full story behind that trade?**

_I mean, this was a wild one. So I’m browsing Vexl, and I see the offer for frozen octopus. Someone, I guess, had been fishing in Croatia or somewhere else, and I couldn’t believe it was frozen octopus for sale on Vexl…. why? It had to be a joke, right???_

_But it wasn’t because a few days later, I saw a guy on Twitter holding the octopus up in his hands and saying look what I bought on Vexl._

> Tak dobrú chuť! ![😎](https://s.w.org/images/core/emoji/16.0.1/72x72/1f60e.png) Máte rádi tyto potvory? ![🤔](https://s.w.org/images/core/emoji/16.0.1/72x72/1f914.png) A víte, že idú kúpit na [@vexlu](https://twitter.com/vexlu?ref_src=twsrc%5Etfw) za bitcointy? ![😊](https://s.w.org/images/core/emoji/16.0.1/72x72/1f60a.png) [pic.twitter.com/pv5eDbt3BI](https://t.co/pv5eDbt3BI)
>
> — DědaBitcoiner (@dedabitcoiner) [June 7, 2024](https://twitter.com/dedabitcoiner/status/1799051354100682988?ref_src=twsrc%5Etfw)

_I think we were all shocked that something like that was possible, and this is what happens. It never ceases to amaze me that people take tools and build things with them, and that’s exactly what Vexl is._

_It’s a tool. It’s an open source tool, so if someone takes Vexl even further and builds something better than we always think, mission accomplished._

_We’re not a business trying to make money; we’re a foundation trying to create tools that empower the individual with the freedom to transact, and that is what people are doing. Here is a link to the tweet:_ [_https://x.com/dedabitcoiner/status/1799051354100682988_](https://x.com/dedabitcoiner/status/1799051354100682988)_._

*   **How did the community respond to this kind of transaction, and what does it say about the possibilities that Vexl enables?**

_Well, you know your network is your net worth, so you’ll never see so


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A short note: I hear ya brother how can we get together & encour...

I hear ya brother how can we get together & encourage the right message to people?


> !['The Lightning Network' Does Not Exist](https://www.discreetlog.com/content/images/2023/03/lightningnetwork.webp)
>
> The former seems to have found solid product market fit. Expect significant volume, adoption, and usage going forward.
>
> The latter's future remains to be seen. Dependence on Tor, which has had massive reliability issues, and lack of strong privacy guarantees put it at risk.
>
> — ODELL (@ODELL) [October 27, 2022](https://twitter.com/ODELL/status/1585633149815377922?ref_src=twsrc%5Etfw&ref=discreetlog.com)

**The Basics**

*   Lightning is a protocol that enables cheap and fast native bitcoin transactions.
*   At the core of the protocol is the ability for bitcoin users to create a payment channel with another user.
*   These payment channels enable users to make many bitcoin transactions between each other with only two on-chain bitcoin transactions: the channel open transaction and the channel close transaction.
*   Essentially lightning is a protocol for interoperable batched bitcoin transactions.
*   It is expected that on chain [bitcoin transaction fees will increase](https://www.discreetlog.com/utxos/) with adoption and the ability to easily batch transactions will save users significant money.
*   As these lightning transactions are processed, liquidity flows from one side of a channel to the other side, on chain transactions are signed by both parties but not broadcasted to update this balance.
*   Lightning is designed to be trust minimized, either party in a payment channel can close the channel at any time and their bitcoin will be settled on chain without trusting the other party.

**There is no 'Lightning Network'**

*   Many people refer to the aggregate of all lightning channels as 'The Lightning Network' but this is a false premise.
*   There are many lightning channels between many different users and funds can flow across interconnected channels as long as there is a route through peers.
*   If a lightning transaction requires multiple hops it will flow through multiple interconnected channels, adjusting the balance of all channels along the route, and paying lightning transaction fees that are set by each node on the route.

**Example:** You have a channel with Bob. Bob has a channel with Charlie. You can pay Charlie through your channel with Bob and Bob's channel with User C.

*   As a result, it is not guaranteed that every lightning user can pay every other lightning user, they must have a route of interconnected channels between sender and receiver.

**Lightning in Practice**

*   Lightning has already found product market fit and usage as an interconnected payment protocol between large professional custodians.
*   They are able to easily manage channels and liquidity between each other without trust using this interoperable protocol.
*   Lightning payments between large custodians are fast and easy. End users do not have to run their own node or manage their channels and liquidity. These payments rarely fail due to professional management of custodial nodes.
*   The tradeoff is one inherent to custodians and other trusted third parties. Custodial wallets can steal funds and compromise user privacy.

**Sovereign Lightning**

*   Trusted third parties are [security holes](https://nakamotoinstitute.org/trusted-third-parties/?ref=discreetlog.com).
*   Users must run their own node and manage their own channels in order to use lightning without trusting a third party. This remains the single largest friction point for sovereign lightning usage: the mental burden of actively running a lightning node and associated liquidity management.
*   Bitcoin development prioritizes node accessibility so cost to self host your own node is low but if a node is run at home or office, Tor or a VPN is recommended to mask your IP address: otherwise it is visible to the entire network and represents a privacy risk.
*   This privacy risk is heightened due to the potential for certain governments to go after sovereign lightning users and compel them to shutdown their nodes. If their IP Address is exposed they are easier to target.
*   Fortunately the tools to run and manage nodes continue to get easier but it is important to understand that this will always be a friction point when compared to custodial services.

**The Potential Fracture of Lightning**

*   Any lightning user can choose which users are allowed to open channels with them.
*   One potential is that professional custodians only peer with other professional custodians.
*   We already see nodes like those run by CashApp only have channels open with other regulated counterparties. This could be due to performance goals, liability reduction, or regulatory pressure.

[!['The Lightning Network' Does Not Exist](https://www.discreetlog.com/content/images/2023/03/cashapp-2.webp)](https://mempool.space/lightning/node/02e1221434a21b8ce5818e92c6ec76301824dc87ed94b4628242e4b1f4a6ff445f?ref=discreetlog.com)

*   Fortunately some of their peers are connected to non-regulated parties so payments to and from sovereign lightning users are still successfully processed by CashApp but this may not always be the case going forward.

**Summary**

*   Many people refer to the aggregate of all lightning channels as 'The Lightning Network' but this is a false premise. There is no singular 'Lightning Network' but rather many payment channels between distinct peers, some connected with each other and some not.
*   Lightning as an interoperable payment protocol between professional custodians seems to have found solid product market fit. Expect significant volume, adoption, and usage going forward.
*   Lightning as a robust sovereign payment protocol has yet to be battle tested. Heavy reliance on Tor, which has had massive reliability issues, the friction of active liquidity management, significant on chain fee burden for small amounts, interactivity constraints on mobile, and lack of strong privacy guarantees put it at risk.

* * *

_If you have never used lightning before, use_ [_this guide_](https://werunbtc.com/phoenix?ref=discreetlog.com) _to get started on your phone._

* * *

**_If you found this post helpful support my work with_** [**_bitcoin_**](https://geyser.fund/project/citadel?ref=discreetlog.com)**_._**

!['The Lightning Network' Does Not Exist](https://werunbtc.com/donate.png)


![Big Tech 🤝 Bitcoin Miners: Energy Freedom](https://www.discreetlog.com/content/images/2023/09/mscloud.jpg)

For years American bitcoin miners have argued for more efficient and free energy markets. It benefits everyone if our energy infrastructure is as efficient and robust as possible. Unfortunately, broken incentives have led to increased regulation throughout the sector, incentivizing less efficient energy sources such as solar and wind at the detriment of more efficient alternatives.

The result has been less reliable energy infrastructure for all Americans and increased energy costs across the board. This naturally has a direct impact on bitcoin miners: increased energy costs make them less competitive globally.

Bitcoin mining represents a global energy market that does not require permission to participate. Anyone can plug a mining computer into power and internet to get paid the current dynamic market price for their work in bitcoin. Using cellphone or satellite internet, these mines can be located anywhere in the world, sourcing the cheapest power available.

Absent of regulation, bitcoin mining naturally incentivizes the build out of highly efficient and robust energy infrastructure. Unfortunately that world does not exist and burdensome regulations remain the biggest threat for US based mining businesses. Jurisdictional arbitrage gives miners the option of moving to a friendlier country but that naturally comes with its own costs.

Enter AI. With the rapid development and release of AI tools comes the requirement of running massive datacenters for their models. Major tech companies are scrambling to secure machines, rack space, and cheap energy to run full suites of AI enabled tools and services. **The most valuable and powerful tech companies in America have stumbled into an accidental alliance with bitcoin miners: THE NEED FOR CHEAP AND RELIABLE ENERGY.**

Our government is corrupt. Money talks. These companies will push for energy freedom and it will greatly benefit us all.

* * *

_Microsoft Cloud hiring to "implement global small modular reactor and microreactor" strategy to power data centers:_ [https://www.datacenterdynamics.com/en/news/microsoft-cloud-hiring-to-implement-global-small-modular-reactor-and-microreactor-strategy-to-power-data-centers/](https://www.datacenterdynamics.com/en/news/microsoft-cloud-hiring-to-implement-global-small-modular-reactor-and-microreactor-strategy-to-power-data-centers/?ref=discreetlog.com)

* * *

_**If you found this post helpful support my work with [bitcoin](https://geyser.fund/project/citadel?ref=discreetlog.com).**_

![Big Tech 🤝 Bitcoin Miners: Energy Freedom](https://werunbtc.com/donate.png)


The blue check is the first step in Elon's plan to bring the chinese social credit score system to the west. If you cannot resist the temptation of the blue check in its current form you have already lost - what comes next will be much darker.

> Will not live in a pod.
> Will not eat the bugs.
> Will not get the chip.
> Will not get a blue check.
> Will not use CBDCs.
>
> Live Free or Die.

![Blue Check Manifesto](https://www.discreetlog.com/content/images/2023/06/authenticate-1.png)

Why did Elon buy twitter for $44 Billion? What value does he see in it besides the greater influence that undoubtedly comes with controlling one of the largest social platforms in the world? **We do not need to speculate - he made his intentions incredibly clear in his first meeting with twitter employees after his takeover - WeChat of the West.**

[![Blue Check Manifesto](https://www.discreetlog.com/content/images/2023/06/wechatofthewest.png)](https://www.businessinsider.com/elon-musk-says-twitter-could-be-western-wechat-china-superapp-2022-6?ref=discreetlog.com)

To those that do not appreciate freedom, the value prop is clear - WeChat is incredibly powerful and successful in China.

[![Blue Check Manifesto](https://www.discreetlog.com/content/images/2023/06/wechat2.png)](https://www.businessinsider.com/chinese-superapp-wechat-best-feature-walkthrough-2019-12?ref=discreetlog.com)

To those that do appreciate freedom, the concern is clear - WeChat has essentially become required to live in China, has surveillance and censorship integrated at its core, and if you are banned from the app your entire livelihood is at risk. Employment, housing, payments, travel, communication, and more become extremely difficult if WeChat censors determine you have acted out of line.

[![Blue Check Manifesto](https://www.discreetlog.com/content/images/2023/06/wechat.png)](https://restofworld.org/2022/handwritten-wechat-apology-letters/?ref=discreetlog.com)

![Blue Check Manifesto](https://www.discreetlog.com/content/images/2023/06/socialcreditscore_.jpg)

The blue check is the first step in Elon's plan to bring the chinese social credit score system to the west. Users who verify their identity are rewarded with more reach and better tools than those that do not. **Verified users are the main product of Elon's twitter - an extensive database of individuals and complete control of the tools he will slowly get them to rely on - it is easier to monetize cattle than free men.**

![Blue Check Manifesto](https://www.discreetlog.com/content/images/2023/06/bluecheck.png)

If you cannot resist the temptation of the blue check in its current form you have already lost - what comes next will be much darker. If you realize the need to resist - [freedom tech provides us options](https://www.discreetlog.com/nostr/).

* * *

_**If you found this post helpful support my work with [bitcoin](https://geyser.fund/project/citadel?ref=discreetlog.com).**_

![Blue Check Manifesto](https://werunbtc.com/donate.png)


![Patriot Act 2.0](https://www.discreetlog.com/content/images/2023/03/restrictact.webp)

The newly proposed RESTRICT ACT - is being advertised as a TikTok Ban, but is much broader than that, carries a $1M Fine and up to 20 years in prison! It is unconstitutional and would create massive legal restrictions on the open source movement and free speech throughout the internet.

The [Bill](https://www.warner.senate.gov/public/_cache/files/3/f/3f2eaae6-09ad-49e1-b254-46289cf20cca/843D73B1823EA0D4122B4365262410D6.restrict-act-final-text.pdf?ref=discreetlog.com) was proposed by: Senator Warner, Senator Thune, Senator Baldwin, Senator Fischer, Senator Manchin, Senator Moran, Senator Bennet, Senator Sullivan, Senator Gillibrand, Senator Collins, Senator Heinrich, and Senator Romney. It has broad support across Senators of both parties.

Corrupt politicians will not protect us. They are part of the problem. We must build, support, and learn how to use censorship resistant tools in order to defend our natural rights.

> The RESTRICT Act, introduced by Senators Warner and Thune, aims to block or disrupt transactions and financial holdings involving foreign adversaries that pose risks to national security. Although the primary targets of this legislation are companies like Tik-Tok, the language of the bill could potentially be used to block or disrupt cryptocurrency transactions and, in extreme cases, block Americans’ access to open source tools or protocols like Bitcoin.

> The Act creates a redundant regime paralleling OFAC without clear justification, it significantly limits the ability for injured parties to challenge actions raising due process concerns, and unlike OFAC it lacks any carve-out for protected speech. [COINCENTER ON THE RESTRICT ACT](https://www.coincenter.org/the-restrict-act-creates-blanket-authority-with-few-checks-to-ban-just-about-anything-linked-to-a-foreign-adversary/?ref=discreetlog.com)

[**Full Text of Bill**](https://www.warner.senate.gov/public/_cache/files/3/f/3f2eaae6-09ad-49e1-b254-46289cf20cca/843D73B1823EA0D4122B4365262410D6.restrict-act-final-text.pdf?ref=discreetlog.com)

* * *

_**If you found this post helpful support my work with [bitcoin](https://geyser.fund/project/citadel?ref=discreetlog.com).**_

![Patriot Act 2.0](https://werunbtc.com/donate.png)