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


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\


Bitcoin Indonesia Conference 2025 Returns to Bali: Weeklong Celebration of Financial Freedom

Bali, Indonesia — Bitcoin Indonesia proudly announces the return of the Bitcoin Indonesia Conference 2025, the country’s premier…

Bali, Indonesia — _Bitcoin Indonesia_ proudly announces the return of the Bitcoin Indonesia Conference 2025, the country’s premier bitcoin-only gathering, set to take place on September 5, 2025, at Bitcoin House Bali.

This year’s event is the centerpiece of Bitcoin Week Bali, a 10-day celebration of grassroots adoption, education, and real-world use cases in one of the world’s most vibrant bitcoin communities, Bali Bitcoin Island.

Themed **“Education, Community, and Driving Local Adoption,”** the conference brings together **250+ attendees** from Indonesia and around the world for a unique blend of talks, workshops, cultural experiences, and deep connection—all in the heart of paradise.

**“This isn’t just a conference—it’s a unique experience,”** says Diana, Co-Founder of Bitcoin Indonesia. _“We’re building a future where bitcoin empowers people, and Bali is where that revolution takes root.”_

> ![🏝](https://s.w.org/images/core/emoji/16.0.1/72x72/1f3dd.png)![✨](https://s.w.org/images/core/emoji/16.0.1/72x72/2728.png) Bitcoin Indonesia Conference is just 3 weeks away!
>
> Bitcoin meets Bali. From powerful talks to rice field views, from deep conversations to new friendships – this isn’t just a conference, it’s an experience!
>
> Are you ready to be part of it?
>
> ![🎟](https://s.w.org/images/core/emoji/16.0.1/72x72/1f39f.png) Last tickets available:… [pic.twitter.com/W7NTRrCMMo](https://t.co/W7NTRrCMMo)
>
> — Bitcoin House Bali (@btchousebali) [August 14, 2025](https://twitter.com/btchousebali/status/1955873293426135262?ref_src=twsrc%5Etfw)

**What to Expect:**
-------------------

 **![✅](https://s.w.org/images/core/emoji/16.0.1/72x72/2705.png) Inspiring Talks & Workshops** – [Learn](https://lightning.news/the-bitcoin-way-path-to-true-sovereignty/) from international and local bitcoin experts
 **![✅](https://s.w.org/images/core/emoji/16.0.1/72x72/2705.png) Networking & Social Events** – Meet bitcoiners from Indonesia & beyond in a relaxed, island-vibe setting
 **![✅](https://s.w.org/images/core/emoji/16.0.1/72x72/2705.png) Bitcoin Market** – Redeem your bitcoin and support local merchants
 **![✅](https://s.w.org/images/core/emoji/16.0.1/72x72/2705.png) Exhibition** – Discover bitcoin projects, companies & innovations
 **![✅](https://s.w.org/images/core/emoji/16.0.1/72x72/2705.png) Cultural Experience** – Immerse yourself in Bali’s magical culture with performances, local cuisine & spiritual traditions
 **![✅](https://s.w.org/images/core/emoji/16.0.1/72x72/2705.png) Afterparty** – Celebrate under the Bali sky with good vibes, great people & tropical drinks

This year’s event follows the momentum of previous conferences, which have hosted speakers such as Jack Dorsey, Alex Gladstein, Saifedean Ammous, and more. The 2025 edition promises even deeper community engagement, with events tailored for educators, developers, merchants, and everyday bitcoiners.

The conference is organized by Bitcoin Indonesia, a grassroots initiative and Human Rights Foundation grantee focused on bitcoin education, community building, and financial empowerment. With 36+ active meetups across the country, Bitcoin Indonesia is helping build a resilient circular economy from the ground up.

“Bali was once known as the ‘Bitcoin Island’ in 2014 before being shut down by the Central Bank. Now, the community is bringing it back—stronger and more sovereign than ever.”

**Want More? Stick Around for Bitcoin Week!**
---------------------------------------------

The Bitcoin Indonesia Conference is the highlight of Bitcoin Week Bali—a full week of exclusive side events celebrating bitcoin on the island. September 1-8, 2025 – Featuring:

![👩🎓](https://s.w.org/images/core/emoji/16.0.1/72x72/1f469-200d-1f393.png) AmityAge Educators Academy
![🌸](https://s.w.org/images/core/emoji/16.0.1/72x72/1f338.png) Women’s Brunch
![🙌](https://s.w.org/images/core/emoji/16.0.1/72x72/1f64c.png) Meetups
![🏝](https://s.w.org/images/core/emoji/16.0.1/72x72/1f3dd.png) Island Explorations
![🧖🏼](https://s.w.org/images/core/emoji/16.0.1/72x72/1f9d6-1f3fc.png) Spiritual Spa Day
![🏄♂](https://s.w.org/images/core/emoji/16.0.1/72x72/1f3c4-200d-2642-fe0f.png) Bitcoin Beach Run, Surf & Yoga
![🌱](https://s.w.org/images/core/emoji/16.0.1/72x72/1f331.png) Sovereign Gardening
![💜](https://s.w.org/images/core/emoji/16.0.1/72x72/1f49c.png) Freedom, Nostr & Nomad Day
![🎾](https://s.w.org/images/core/emoji/16.0.1/72x72/1f3be.png) Island Padel Night
& much more!

 **![⚠](https://s.w.org/images/core/emoji/16.0.1/72x72/26a0.png)**Heads up! Your ticket only covers the main conference on September 5th. Other Bitcoin Week events are separately organized and require additional registrations.

**Tickets & Sponsorship**
-------------------------

Tickets for the conference are limited and now available at [www.bitcoinweekbali.xyz](http://www.bitcoinweekbali.xyz)

Sponsorship opportunities are open, with customizable packages that include brand exposure, speaking slots, and immersive activations throughout the week.

Join us & be part of Indonesia’s Bitcoin revolution!

 **![🏝](https://s.w.org/images/core/emoji/16.0.1/72x72/1f3dd.png)![⚡](https://s.w.org/images/core/emoji/16.0.1/72x72/26a1.png) See you in Bali Bitcoin Island!**

**Contact:**

Diana, Co-Founder Bitcoin Indonesia & Bitcoin House Bali

![📧](https://s.w.org/images/core/emoji/16.0.1/72x72/1f4e7.png) **Email** [diana@bitcoinindonesia.xyz](mailto:diana@bitcoinindonesia.xyz)

![🌐](https://s.w.org/images/core/emoji/16.0.1/72x72/1f310.png) **Website** [www.bitcoinweekbali.xyz](https://bitcoinindonesia.xyz/)

![🐦](https://s.w.org/images/core/emoji/16.0.1/72x72/1f426.png) **X** [@bitcoinindo21](https://x.com/bitcoinindo21) & [@btchousebali](https://x.com/btchousebali)

![📸](https://s.w.org/images/core/emoji/16.0.1/72x72/1f4f8.png) **Instagram** [@bitcoinindo21](https://www.instagram.com/bitcoinindo21/) & [@bitcoinhousebali](https://www.instagram.com/bitcoinhousebali/)


Steak ’n Shake’s Cuts Payment Fees By 50% With Bitcoin

Steak ’n Shake, said it realized a 50% reduction in payment fees compared to traditional credit cards. The…

Steak ’n Shake, [said](https://paywithflash.com/bitcoin-payments-in-retail-steak-n-shake-enterprise/) it realized a 50% reduction in payment fees compared to traditional credit cards. The chain also said it saw sales spike 10.7% after integrating bitcoin payments.

Founded in 1934, the classic American burger restaurant embraced Bitcoin payments earlier this year across its U.S. and European company-operated restaurants.

This initiative is one of the [clearest examples](https://paywithflash.com/bitcoin-payments-in-retail-steak-n-shake-enterprise/) of Bitcoin moving beyond speculative investment into practical use as a retail payment method.

**Business Drivers Behind Bitcoin Adoption**

With card processing fees continuing to climb—merchants in the U.S. paid $172 billion in 2023 alone—retailers are always looking for ways to improve efficiency.

Steak ’n Shake’s experience confirms Bitcoin acceptance translates into tangible savings, with the company reporting up to a 50% reduction in payment fees compared to traditional credit cards.

In retail sectors where net profit margins typically range from 2% to 5%, halving payment costs can significantly enhance profitability or fund reinvestment in quality, technology, or customer experience.

But cost is only part of the story. Bitcoin transactions settle faster and are immune to chargebacks, offering operational benefits. For payments operations teams, this means fewer disputes, lower fraud risk, and more reliable cash flow—advantages that can reduce overhead and administrative burden.

**Meeting Customers Where They Are**

Perhaps most compelling from a revenue-growth perspective is how Bitcoin acceptance has influenced customer behavior. On the day of launch, Steak ’n Shake accounted for 0.2% of global Bitcoin transactions.

Following the rollout, the company observed a sustained spike in customer traffic, reflecting that bitcoin acceptance meets emerging consumer expectations, especially among younger demographics.

This dynamic underscores an important consideration for retail payment strategists: enabling Bitcoin payments is both a facility upgrade and a customer acquisition strategy focused on engaging tech-savvy, high-value segments increasingly comfortable with bitcoin and Lightning payments.

**Strategic Differentiation for Legacy Brands**

Steak ’n Shake’s decision to place Bitcoin on equal footing with cash and credit cards signals a shift. By normalizing bitcoin payments as a standard option, the company has positioned itself as a future-forward brand willing to adopt emerging technologies pragmatically rather than as a marketing afterthought.

This approach is instructive for enterprises weighing digital payment innovation. Bitcoin is no longer a fringe payment experiment but a legitimate component of an omnichannel payment strategy, capable of enhancing brand equity and competitive positioning.

**Growth Metrics Affirming Cryptocurrency’s Role in Retail**

Broader market data reinforces the significance of Steak ’n Shake’s move. Crypto payment volume surpassed $1.3 trillion in 2024, with projections suggesting retail crypto transactions could exceed $4.5 trillion annually by 2030. Meanwhile, surveys show 75% of U.S. retailers aim to accept crypto or stablecoins within the next two years, reflecting mainstream momentum.

**Implications for Payments Executives**

For CFOs, CROs, CTOs, and payment strategists in retail, Steak ’n Shake presents a real-world benchmark:

*   **Cost Efficiency:** Cutting payment processing fees by half can materially impact margin in a low-margin sector.
*   **Operational Streamlining:** Faster settlements and reduced chargeback exposure improve liquidity and reduce administrative costs.
*   **Customer Engagement:** Meeting crypto-native customers where they prefer to pay unlocks new revenue streams.
*   **Brand Modernization:** Early adoption signals innovation leadership and future-proofs payment offerings.

As enterprise retail continues to digitize payments and diversify rails, the Steak ’n Shake example bolsters the argument for Bitcoin’s maturity as a commerce medium—ready to be [integrated](https://paywithflash.com/integrations/) into global payment portfolios beyond speculation and hype.

> [How Flash Enables Interoperable, Self-Custodial Bitcoin Commerce](https://lightning.news/interoperable-self-custodial-bitcoin-commerce/)


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


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.


Bitcoin Tipping Is Now Live on X, Powered by BitBit and Spark

500 million X users can now receive bitcoin payments instantly, evenwithout a pre-existing wallet. LOS ANGELES (CA), 8/18/2025…

_500 million X users can now receive bitcoin payments instantly, even
without a pre-existing wallet._

**LOS ANGELES (CA), 8/18/2025** – BitBit, the self-custodial social wallet that lets users instantly send and receive bitcoin directly in their browser, today announced the launch of its X (formerlyTwitter) integration, [enabling](https://lightning.news/bitcoins-lightning-network-soars/) users worldwide to exchange bitcoin tips on the platform seamlessly. The payments will be associated with X usernames, allowing anyone to receive them, even without a wallet.

The integration leverages Spark,the fastest, cheapest, most UX-friendly way to build financial apps and launch assets on bitcoin. Spark is built by Lightspark, providing open, always-on payments solutions for the Internet powered by Bitcoin: the only open, neutral network for moving value. Lightspark powers integrations with partners such as Coinbase, NuBank, Bitso, and many more to enable payments on bitcoin.

“At Lightspark, we’re working tirelessly to ensure the future of money looks like the open Internet,” said David Marcus, Lightspark’s co-founder and CEO. “Spark is built on Bitcoin because it’s the only open, neutral network for moving value. By choosing Spark, the BitBit wallet builds on this openness and proves bitcoin’s potential to empower creators and the global X community.”

While tips have been available on X since 2021, this is the **first self-custodial tipping solution** available to the public. By leveraging Spark, the fastest, cheapest, and most UX-friendly way to build financial apps and launch assets on Bitcoin, the solution eliminates the technical friction and complexity associated with scaling solutions like the Lightning Network, providing users with a seamless and intuitive wallet experience. Tip receivers will have 21 days to create a wallet to receive the money; otherwise, a refund transaction will automatically be sent back to the sender.

“It’s very important to meet people where they are rather than assume they will learn how to use new technologies,” said Felipe Servin, Founder and CEO of BitBit. “With over 500 million people already using X and most of the bitcoin-focused conversations happening there, this is the ideal place to integrate bitcoin payments for the general public.”

The extension is now live for all Chrome-compatible browsers, with mobile support and stablecoin integrations coming very soon. Install it here:
[https://chromewebstore.google.com/detail/fngpibmhccdaokelgaccddiehlggihlo](https://chromewebstore.google.com/detail/fngpibmhccdaokelgaccddiehlggihlo)

**About Spark**

Spark is the fastest, cheapest, most UX-friendly way to build financial apps and launch assets on Bitcoin. We’re building the Bitcoin internet. Follow on X [@spark](https://x.com/spark)

**About BitBit**

BitBit is a self-custodial social Bitcoin wallet that lets users send and receive bitcoin and stablecoins right directly in their browser. Powered by Spark, a next-gen Bitcoin Layer 2, BitBit integrates directly with X usernames for frictionless tipping, payments, and community engagement, all without sacrificing privacy or control of funds. To learn more about BitBit, visit [bitbit.bot](https://bitbit.bot/)

**Press Contact**
[press@sati.pro](mailto:press@sati.pro)


If you eat that many eggs, then it's fine 😅


This is what I should be doing instead of buying 14 cartons from the store 🤦🏻♂


180 fresh eggs in one box.

Good morning 🌞

#Gm #morning #eggstr 🥚

https://blossom.primal.net/523fe0c3ce6e53c47b087eebfa40730e24fe12f9b6204c4d31fe9e36fd90bd52.jpg


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).


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).


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 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).


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


Good Morning, Bitcoin is your latest news roundup delivering key stories, project updates, new releases, guides, research, and all things related to Bitcoin and freedom tech.

[![Good Morning, Bitcoin - Saturday, April 26th, 2025](https://www.nobsbitcoin.com/content/images/2025/04/image-50.png)](https://mempool.space/)

Headlines
---------

*   **Spiral renews support for Dan Gould and Joschisan.** The organization has renewed support for _Dan Gould_, who is developing the [Payjoin Dev Kit (PDK)](https://payjoindevkit.org/2025/03/18/the-evolution-of-payjoin), and [_Joschisan_](https://xcancel.com/spiralbtc/status/1914363508126515567), a [Fedimint](https://github.com/fedimint/fedimint) developer focused on simplifying federations.
*   **Metaplanet buys another 145 BTC.** The Tokyo-listed company [has purchased](https://www.coindesk.com/markets/2025/04/24/metaplanet-hits-5-000-btc-mark-amid-strategic-treasury-expansion) an additional 145 BTC for $13.6 million. Their total bitcoin holdings now stand at 5,000 coins, worth around $428.1 million.
*   **Semler Scientific has increased its bitcoin holdings to 3,303 BTC.** The company acquired an additional 111 BTC at an average price of $90,124. The purchase was funded through proceeds from an at-the-market offering and cash reserves, as stated in a [press release](https://www.prnewswire.com/news-releases/semler-scientific-announces-updated-btc--atm-activity-purchased-additional-111-btc-now-holds-3-303-btc-ytd-btc-yield-of-23-5-302438131.html).
*   **The Virtual Asset Service Providers (VASP) Bill 2025 introduced in Kenya.** The [new legislation](https://bitcoinke.io/2025/04/the-vasp-kenya-license-requirements/) aims to establish a comprehensive legal framework for licensing, regulating, and supervising virtual asset service providers (VASPs), with strict penalties for non-compliant entities.
*   **Russian government to launch a cryptocurrency exchange.** The country's Ministry of Finance and Central Bank [announced](https://bitcoinmagazine.com/news/russias-finance-ministry-and-central-bank-to-launch-crypto-exchange-for-super-qualified-investors) plans to establish a trading platform for "highly qualified investors" that "will legalize crypto assets and bring crypto operations out of the shadows."
*   **All virtual asset service providers expect to be fully compliant with the Travel Rule by the end of 2025.** A survey by financial surveillance specialist [Notabene](https://www.coindesk.com/business/2025/04/23/travel-rule-compliance-surges-on-new-regs-stablecoin-payments-notabene-says) reveals that 90% of virtual asset service providers (VASPs) expect full Travel Rule compliance by mid-2025, with all aiming for compliance by year-end. The survey also shows a significant rise in VASPs blocking withdrawals until beneficiary information is confirmed, increasing from 2.9% in 2024 to 15.4% now. Additionally, about 20% of VASPs return deposits if originator data is missing.
*   **UN claims Bitcoin mining is a "powerful tool" for money laundering.** _The Rage_'s [analysis](https://www.therage.co/un-mining-money-laundering/) suggests that the recent United Nations Office on Drugs and Crime report on crime in South-East Asia makes little sense and hints at the potential introduction of Anti-Money Laundering (AML) measures at the mining level.
*   **Riot Platforms has obtained a $100 million credit facility from Coinbase Credit**, using bitcoin as collateral for short-term funding to support its expansion. The firm's CEO, _Jason Les,_ [stated](https://www.riotplatforms.com/riot-platforms-announces-100-million-credit-facility-with-coinbase/) that this facility is crucial for diversifying financing sources and driving long-term stockholder value through strategic growth initiatives.
*   **Bitdeer raises $179M in loans and equity amid Bitcoin chip push.** _The Miner Mag_ [reports](https://www.theminermag.com/news/2025-04-22/bitdeer-bitcoin-loan-sealminer) that Bitdeer entered into a loan agreement with its affiliate Matrixport for up to $200 million in April, as disclosed in its [annual report](https://ir.bitdeer.com/static-files/fd6af83f-6142-48aa-b15d-5bc3bc83de96) filed on Monday.
*   **Federal Reserve retracts guidance discouraging banks from engaging in 'crypto.'** The U.S. Federal Reserve [withdrew](https://www.theblock.co/post/351943/federal-reserve-retracts-guidance-discouraging-banks-from-engaging-in-crypto) guidance that discouraged banks from crypto and stablecoin activities, as [announced](https://www.federalreserve.gov/newsevents/pressreleases/bcreg20250424a.htm) by its Board of Governors on Thursday. This includes rescinding a 2022 supervisory letter requiring prior notification of crypto activities and 2023 stablecoin requirements.

> "As a result, the Board will no longer expect banks to provide notification and will instead monitor banks' crypto-asset activities through the normal supervisory process," reads the FED statement.

*   **UAE-based Islamic bank ruya launches Shari’ah-compliant bitcoin investing.** The bank has become the world’s first Islamic bank to provide direct access to virtual asset investments, including Bitcoin, via its mobile app, [per](https://bitcoinmagazine.com/news/ruya-becomes-first-islamic-bank-to-offer-bitcoin-and-virtual-asset-investments) _Bitcoin Magazine._
*   **U.S. 'crypto' scam losses amounted to $9.3B in 2024.** The US The Federal Bureau of Investigation (FBI) [has reported](https://www.ic3.gov/AnnualReport/Reports/2024_IC3Report.pdf) $9.3 billion losses in cryptocurrency-related scams in 2024, noting a troubling trend of scams targeting older Americans, which accounted for over $2.8 billion of those losses.

![Good Morning, Bitcoin - Saturday, April 26th, 2025](https://www.nobsbitcoin.com/content/images/2025/04/image-49.png)

Source: [FBI.](https://www.ic3.gov/AnnualReport/Reports/2024_IC3Report.pdf)

*   **North Korean hackers establish fake companies to target 'crypto' developers.** Silent Push researchers [reported](https://www.silentpush.com/blog/contagious-interview-front-companies/) that hackers linked to the Lazarus Group created three shell companies, two of which are based in the U.S., with the objective of spreading malware through deceptive job interview scams aimed at individuals seeking jobs in cryptocurrency companies.
*   **Citrea deployed its Clementine Bridge on the Bitcoin testnet.** The bridge [utilizes](https://www.coindesk.com/tech/2025/04/23/bitcoin-rollup-citrea-deploys-bridge-to-tackle-collateral-bottleneck-of-using-btc-in-defi) the BitVM2 programming language to inherit validity from Bitcoin, allegedly providing "the safest and most trust-minimized way to use BTC in decentralized finance."
*   **Hesperides University offers a Master’s degree in Bitcoin.** _Bitcoin Magazine_ [reports](https://bitcoinmagazine.com/news/university-of-the-hesperides-launches-first-spanish-language-masters-program-focused-exclusively-on-bitcoin) the launch of the first-ever Spanish-language Master’s program dedicated exclusively to Bitcoin. Starting April 28, 2025, this fully online program will equip professionals with technical, economic, legal, and philosophical skills to excel in the Bitcoin era.
*   **BTC in D.C. event** is set to take place on September 30 - October 1 in Washington, D.C. Learn more about this initiative [here](https://btcindc.com/).

[![Good Morning, Bitcoin - Saturday, April 26th, 2025](https://www.nobsbitcoin.com/content/images/2025/04/image-44.png)](https://xcancel.com/PavelTheCoder/status/1915592501546619163)

Use the tools
-------------

*   [**Bitcoin Keeper**](https://medium.com/bitbees/bitcoin-keeper-rebrand-new-logo-same-commitment-6009a88f7b49) just got a new look. [Version 2.2.0](https://github.com/bithyve/bitcoin-keeper/releases) of the mobile multisig app brought a new branding design, along with a [Keeper Private](https://medium.com/bitbees/introducing-keeper-private-where-wealth-meets-sovereignty-278e93332b32) tier, testnet support, ability to import and export [BIP-329](https://github.com/bitcoin/bips/blob/master/bip-0329.mediawiki) labels, and the option to use a Server Key with multiple users.
    *   Earlier this month the project also announced [Keeper Learn](https://medium.com/bitbees/introducing-keeper-learn-your-simple-expert-guided-path-to-understanding-bitcoin-be53470be069) service, offering clear and guided Bitcoin learning sessions for both groups and individuals.
*   [**Keeper Desktop v0.2.2**](https://github.com/bithyve/keeper-desktop/releases/tag/keeper-desktop-v0.2.2), a companion desktop app for Bitcoin Keeper mobile app, received a renewed branding update, too.

![Good Morning, Bitcoin - Saturday, April 26th, 2025](https://www.nobsbitcoin.com/content/images/2025/04/image-45.png)

The evolution of Bitcoin Keeper logo. Source: [BitHyve blog](https://medium.com/bitbees/bitcoin-keeper-rebrand-new-logo-same-commitment-6009a88f7b49).

*   [**Blockstream Green Desktop v2.0.25**](https://github.com/Blockstream/green_qt/releases) updates GDK to v0.75.1 and fixes amount parsing issues when switching from fiat denomination to Liquid asset.
*   [**Lightning Loop v0.31.0-beta**](https://github.com/lightninglabs/loop/releases/tag/v0.31.0-beta) enhances the `loop listswaps` command by improving the ability to filter the response.
*   [**Lightning-kmp v1.10.0**](https://github.com/ACINQ/lightning-kmp/releases), an implementation of the Lightning Network in Kotlin, is now available.
*   [**LND v0.19.0-beta.rc3**](https://github.com/lightningnetwork/lnd/releases/tag/v0.19.0-beta.rc3), the latest beta release candidate of LND is now ready for testing.
*   [**ZEUS v0.11.0-alpha2**](https://github.com/ZeusLN/zeus/releases/tag/v0.11.0-alpha2) is now available for testing, too. It's nuts.
*   [**JoinMarket Fidelity Bond Simulator**](https://m0wer.github.io/joinmarket-fidelity-bond-simulator/) helps potential JoinMarket makers evaluate their competitive position in the market based on fidelity bonds.
*   [**UTXOscope**](https://github.com/Drew72-ita/UTXOscope) is a text-only Bitcoin blockchain analysis tool that visualizes price dynamics using only on-chain data. The


News. Updates. Research. Stats. Everything Important You Need to Know.

News
----

*   **Bitcoin mining centralization in 2025.** According to a [blog post](https://b10c.me/blog/015-bitcoin-mining-centralization/) by _b10c_, Bitcoin mining was at its most decentralized in May 2017, with another favorable period from 2019 to 2022. However, starting in 2023, mining has become increasingly centralized, particularly due to the influence of large pools like Foundry and the use of proxy pooling by entities such as AntPool.

![Block 893376: Important News of the Week](https://www.nobsbitcoin.com/content/images/2025/04/image-21.png)

Source: [b10c's blog.](https://b10c.me/blog/015-bitcoin-mining-centralization/)

*   **OpenSats announces the eleventh wave of Nostr grants.** The [five projects in this wave](https://www.nobsbitcoin.com/opensats-unveils-the-eleventh-wave-of-nostr-grants/) are the mobile live-streaming app [Swae](https://github.com/suhailsaqan/swae), the Nostr-over-ham-radio project [HAMSTR](https://github.com/LibertyFarmer/hamstr), [Vertex](https://www.nobsbitcoin.com/vertex-web-of-trust-as-a-service/)—a Web-of-Trust (WOT) service for Nostr developers, [Nostr Double Ratchet](https://github.com/mmalmi/nostr-double-ratchet) for end-to-end encrypted messaging, and the [Nostr Game Engine](https://ngengine.org/) for building games and applications integrated with the Nostr ecosystem.
*   **New Spiral grantee:** [**_l0rinc_**](https://xcancel.com/spiralbtc/status/1912176891609362505)**.** In February 2024, _l0rinc_ transitioned to full-time work on Bitcoin Core. [His efforts](https://github.com/l0rinc/bitcoin/tree/l0rinc/work?tab=readme-ov-file#bitcoin-core-contributions) focus on performance benchmarking and optimizations, enhancing code quality, conducting code reviews, reducing block download times, optimizing memory usage, and refactoring code.
*   **Project Eleven offers 1 BTC to break Bitcoin's cryptography with a quantum computer.** The quantum computing research organization [has introduced](https://bitcoinmagazine.com/news/project-eleven-to-award-1-btc-to-tackle-bitcoins-quantum-vulnerability) the [Q-Day Prize](https://www.qdayprize.org/), a global challenge that offers 1 BTC to the first team capable of breaking an elliptic curve cryptographic (ECC) key using Shor’s algorithm on a quantum computer. The prize will be awarded to the first team to successfully accomplish this breakthrough by April 5, 2026.
*   **Unchained has launched the Bitcoin Legacy Project.** The initiative [seeks](https://www.unchained.com/blog/introducing-the-bitcoin-legacy-project) to advance the Bitcoin ecosystem through a bitcoin-native [donor-advised fund platform](https://www.unchained.com/blog/bitcoin-donor-advised-funds) (DAF), investments in community hubs, support for education and open-source development, and a commitment to long-term sustainability with transparent annual reporting.
    *   In its first year, the program will provide support to Bitcoin hubs in Nashville, Austin, and Denver.
    *   Support also includes $50,000 to the Bitcoin Policy Institute, a $150,000 commitment at the University of Austin, and up to $250,000 in research grants through the Bitcoin Scholars program.

> "Unchained will **match grants 1:1** made to partner organizations who support Bitcoin Core development when made through the Unchained-powered bitcoin DAF, up to 1 BTC," was stated in a blog post.

*   **Block launched open-source tools for Bitcoin treasury management.** These [include](https://block.xyz/inside/block-releases-open-source-tools-for-bitcoin-treasury-management) a dashboard for managing corporate bitcoin holdings and provides a real-time BTC-to-USD price quote API, released as part of the [Block Open Source initiative](https://github.com/block/bitcoin-treasury). The company’s own instance of the bitcoin holdings dashboard is available [here](https://bitcoin.block.xyz).

[![Block 893376: Important News of the Week](https://www.nobsbitcoin.com/content/images/2025/04/image-14.png)](https://bitcoin.block.xyz/)

Source: block.xyz

*   **Bull Bitcoin expands to Mexico,** [enabling](https://www.bullbitcoin.com/blog/bull-bitcoin-launches-in-mexico) anyone in the country to receive pesos from anywhere in the world straight from a Bitcoin wallet. Additionally, users can now buy Bitcoin with a Mexican bank account.

> _"Bull Bitcoin strongly believes in Bitcoin’s economic potential in Mexico, not only for international remittances and tourism, but also for Mexican individuals and companies to reclaim their financial sovereignty and protect their wealth from inflation and the fragility of traditional financial markets," said Francis Pouliot, Founder and CEO of Bull Bitcoin._

*   **Corporate bitcoin holdings hit a record high in Q1 2025.** According to [Bitwise](https://bitcoinmagazine.com/news/corporate-bitcoin-holdings-hit-record-high-in-q1-2025-as-public-companies-accelerate-accumulation), public companies' adoption of Bitcoin has hit an all-time high. In Q1 2025, these firms collectively hold over 688,000 BTC, marking a 16.11% increase from the previous quarter. This amount represents 3.28% of Bitcoin's fixed 21 million supply.

![Block 893376: Important News of the Week](https://www.nobsbitcoin.com/content/images/2025/04/image-29.png)

Source: [Bitwise.](https://xcancel.com/BitwiseInvest/status/1911843925943337203)

*   **The Bitcoin Bond Company for institutions has launched** with the [aim of acquiring](https://xcancel.com/BitcoinPierre/status/1909229920447840602) $1 trillion in Bitcoin over 21 years. It utilizes secure, transparent, and compliant bond-like products backed by Bitcoin.
*   **The U.S. Senate confirmed Paul Atkins as Chair of the Securities and Exchange Commission (SEC).** At his confirmation hearing, _Atkins_ [emphasized](https://cryptoslate.com/paul-atkins-confirmed-to-chair-sec-as-gary-genslers-long-term-replacement/) the need for a clear framework for digital assets. He aims to collaborate with the CFTC and Congress to address jurisdiction and rulemaking gaps, aligning with the Trump administration's goal to position the U.S. as a leader in Bitcoin and blockchain finance.
*   **Ethereum developer Virgil Griffith has been released from custody.** _Griffith_, whose sentence [was reduced](https://atlas21.com/former-ethereum-developer-virgil-griffith-released-from-custody/) to 56 months, is now seeking a pardon. He was initially sentenced to 63 months for allegedly violating international sanctions laws by providing technical advice on using cryptocurrencies and blockchain technology to evade sanctions during a presentation titled 'Blockchains for Peace' in North Korea.
*   **No-KYC exchange eXch to close down under money laundering scrutiny.** The privacy-focused cryptocurrency trading platform [said](https://bitcointalk.org/index.php?topic=577207.msg65286839#msg65286839) it will cease operations on May 1. This decision follows allegations that the platform was used by North Korea's Lazarus Group for money laundering. eXch revealed it is the subject of an active "transatlantic operation" aimed at shutting down the platform and prosecuting its team for "money laundering and terrorism."
*   **Blockstream combats ESP32 FUD concerning Jade signers.** The company [stated](https://xcancel.com/Blockstream/status/1912468478025433244) that after reviewing the vulnerability disclosed in early March, Jade was found to be secure. Espressif Systems, the designer of the ESP32, has since [clarified](https://developer.espressif.com/blog/2025/03/esp32-bluetooth-clearing-the-air/?ref=btctimes.com) that the "undocumented commands" do not constitute a "backdoor."

[![Block 893376: Important News of the Week](https://www.nobsbitcoin.com/content/images/2025/04/image-30.png)](https://xcancel.com/Blockstream/status/1912468476200997138)

*   **Bank of America is lobbying for regulations that favor banks over tech firms in stablecoin issuance.** The bank's CEO _Brian Moynihan_ is working with groups such as the American Bankers Association to advance the issuance of a fully reserved, 1:1 backed "Bank of America coin." If successful, this could limit stablecoin efforts by non-banks like Tether, Circle, and others, [reports](https://www.theblock.co/post/350860/stablecoin-turf-wars-bank-of-america-tether-and-circle-battle-to-shape-us-rules) _The Block._
*   **Tether to back OCEAN Pool with its hashrate.** "As a company committed to financial freedom and open access, we see supporting decentralization in Bitcoin mining as essential to the network’s long-term integrity," [said](https://www.theminermag.com/news/2025-04-14/tether-ocean-pool-bitcoin) Tether CEO _Paolo Ardoino_.
*   **Bitdeer to expand its self-mining operations to navigate tariffs.** The Singapore-based mining company is advancing plans to produce machines in the U.S. while reducing its mining hardware sales. This response is in light of increasing uncertainties related to U.S. trade policy, as reported by [_Bloomberg_](https://www.bloomberg.com/news/articles/2025-04-15/crypto-firm-bitdeer-prioritizes-mining-to-weather-tariff-turmoil).
*   **Tether acquires $32M in Bitdeer shares.** The firm [has boosted](https://www.theminermag.com/news/2025-04-17/tether-bitdeer-acquire-bitcoin) its investment in Bitdeer during a wider market sell-off, with purchases in early to mid-April amounting to about $32 million, regulatory filings reveal.
*   **US Bitcoin miner manufacturer Auradine has raised $153 million** in a Series C funding round as it [expands](https://www.theminermag.com/news/2025-04-17/auradine-mara-bitcoin) into AI infrastructure. The round was led by StepStone Group and included participation from Maverick Silicon, Premji Invest, Samsung Catalyst Fund, Qualcomm Ventures, Mayfield, MARA Holdings, GSBackers, and other existing investors. The firm raised to over $300 million since its inception in 2022.
*   **Voltage has partnered with BitGo** to [enable](https://www.voltage.cloud/blog/bitgo-and-voltage-team-up-to-deliver-instant-bitcoin-and-stabl