content:
[![Good Morning, Bitcoin - Wednesday, April 23rd, 2025](https://www.nobsbitcoin.com/content/images/2025/04/image-42.png)](https://mempool.space/)

Headlines
---------

*   **Twenty One Capital is set to launch with over 42,000 BTC in its treasury.** This new Bitcoin-native firm, backed by Tether and SoftBank, is [planned to go public](https://www.businesswire.com/news/home/20250423962305/en/Tether-SoftBank-Group-and-Jack-Mallers-Launch-Twenty-One-a-Bitcoin-native-Company-Through-a-Business-Combination-With-Cantor-Equity-Partners) via a SPAC merger with Cantor Equity Partners and will be led by _Jack Mallers_, co-founder and CEO of Strike. According to a [report](http://archive.today/3PoYZ) by the _Financial Times_, the company aims to replicate the model of _Michael Saylor_ with his company, MicroStrategy.
*   **Florida's SB 868 proposes a backdoor into encrypted platforms.** The bill and its House companion have [both passed](https://www.eff.org/deeplinks/2025/04/floridas-anti-encryption-bill-wrecking-ball-privacy-theres-still-time-stop-it) through their respective committees and are headed to a full vote. If enacted, [SB 868](https://www.flsenate.gov/Session/Bill/2025/868/) would require social media companies to decrypt teens' private messages, ban disappearing messages, allow unrestricted parental access to private messages, and likely eliminate encryption for all minors altogether.
*   **Paul Atkins has officially assumed the role of the 34th Chairman of the US Securities and Exchange Commission (SEC).** This is a return to the agency for Atkins, who previously served as an SEC Commissioner from 2002 to 2008 under the _George W. Bush_ administration. He has [committed](https://www.reuters.com/world/us/paul-atkins-sworn-us-sec-chair-2025-04-21/) to advancing the SEC’s mission of fostering capital formation, safeguarding investors, and ensuring fair and efficient markets.
*   **Solosatoshi.com has sold over 10,000 open-source miners,** adding more than 10 PH of hashpower to the Bitcoin network.

> "Thank you, Bitaxe community. OSMU developers, your brilliance built this. Supporters, your belief drives us. Customers, your trust powers 10,000+ miners and 10PH globally. Together, we’re decentralizing Bitcoin’s future. Last but certainly not least, thank you[@skot9000](https://x.com/skot9000) for not only creating a freedom tool, but instilling the idea into thousands of people, that Bitcoin mining can be for everyone again," [said](https://xcancel.com/SoloSatoshi/status/1912267232006070775) the firm on X.

*   **OCEAN's DATUM has found 100 blocks.** "Over 65% of OCEAN’s miners are using DATUM, and that number is growing every day. This means block template construction is making its way back into the hands of the miners, which is not only the most profitable for miners on OCEAN but also one of the best things for Bitcoin," [stated](https://xcancel.com/ocean_mining/status/1914943267319226620) the mining pool.

![Good Morning, Bitcoin - Wednesday, April 23rd, 2025](https://www.nobsbitcoin.com/content/images/2025/04/image-40.png)

Source: [orangesurf](https://xcancel.com/OrangeSurfBTC/status/1914953456483291175)

*   **Arch Labs has secured $13 million to develop "ArchVM"** and integrate smart-contract functionality with Bitcoin. The funding round, valuing the company at $200 million, was led by Pantera Capital, as [announced](https://chainwire.org/2025/04/22/arch-labs-announces-13m-funding-round-to-launch-a-native-bitcoin-virtual-machine/) on Tuesday.
*   **Tesla still holds nearly $1 billion in bitcoin.** According to the automaker's [latest earnings report](https://www.sec.gov/Archives/edgar/data/1318605/000162828025018851/exhbit991.htm), the firm reported digital asset holdings worth $951 million as of March 31.
*   **The European Central Bank is pushing for amendments to the European Union's Markets in Crypto Assets legislation (MiCA)**, just months after its implementation. According to _Politico_'s [report on Tuesday](https://www.politico.eu/article/european-commission-livid-ecb-warn-crypto-apocalypse-donald-trump/), the ECB is concerned that U.S. support for cryptocurrency, particularly stablecoins, could cause economic harm to the 27-nation bloc.
*   **TABConf 2025 is scheduled to take place from October 13-16, 2025.** This prominent technical Bitcoin conference is dedicated to community building, education, and developer support, and it is set to return in October. Get your [tickets here](https://7.tabconf.com/).
*   **Kaduna Lightning Development Bootcamp.** From May 14th to 17th, the Bitcoin Lightning Developer Bootcamp will take place in Kaduna, Nigeria. Thisevent offers four dynamic days of coding, learning, and networking. Organized by Africa Free Routing and supported by Btrust, Tether, and African Bitcoiners, this bootcamp is designed as a gateway for African developers eager to advance their skills in Bitcoin and Lightning development. [Apply here](https://freerouting.africa/kaduna-bootcamp/).

![Good Morning, Bitcoin - Wednesday, April 23rd, 2025](https://www.nobsbitcoin.com/content/images/2025/04/image-41.png)

Source: [African Bitcoiners.](https://bitcoiners.africa/bitcoin-newsletter/22nd-april-2025-bitcoin-is-coming-to-kaduna-%f0%9f%9a%80-126/)

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

*   [**Core Lightning (CLN) v25.02.2**](https://github.com/ElementsProject/lightning/releases/tag/v25.02.2) as been released to fix a broken Docker image. The issue was caused by an SQLite version that did not support an advanced query.
*   [**Blitz wallet v0.4.4-beta**](https://github.com/BlitzWallet/BlitzWallet/releases) introduces several updates and improvements, including the prevention of duplicate ecash payments, fixes for background ecash invoice handling, the ability for users to send payments to BOLT12 invoices from their Liquid balance, support for Blink QR codes, a lowered minimum amount for Lightning-to-Liquid payments to 100 sats, the option to initiate a node sync via a swipe gesture on the wallet's home screen, and the introduction of opt-in or opt-out functionality for newly implemented crash analytics via settings.
*   [**Utreexo v0.5.0**](https://github.com/utreexo/utreexo), a hash-based dynamic accumulator, is now available.
*   [**Specter v2.1.1**](https://stacker.news/items/954220) is now available on StartOS. "This update brings compatibility with Bitcoin Core v28 and incorporates several upstream improvements," said developer _Alex71btc._
*   [**ESP-Miner (AxeOS) v2.7.0b1**](https://github.com/bitaxeorg/ESP-Miner/releases/tag/v2.7.0b1) is now available for testing.
*   [**NodeGuard v0.16.1**](https://github.com/Elenpay/NodeGuard/releases), a treasury management solution for Lightning nodes, has been released.
*   The latest **stacker.news** [updates](https://stacker.news/items/953312) include prompts to add a receiving wallet when posting or making comments (for new users), an option to randomize poll choices, improved URL search, and a few other enhancements. A [bug fix for territories](https://stacker.news/items/953648) created after 9/19/24 has been implemented to reward 70% of their revenue to owners instead of 50%.

Other stuff
-----------

*   The April edition of the _256 Foundation_'s newsletter is [now available](https://256foundation.org/newsletters/256Foundation-Newsletter-2504_v2.pdf). It includes the latest mining news, Bitcoin network health updates, project developments, and a tutorial on how to update FutureBit's Apollo 1 to the Apollo 2 software.
*   _Siggy47_ [has posted](https://stacker.news/items/953178) a comprehensive RoboSats guide on stacker.news.
*   Learn how to run your own Nostr relay using Citrine and Cloudflare Tunnels by following [this step-by-step guide](https://yakihonne.com/article/dhalsim@dhalsim.github.io/-dPG4YzeV6cm0A2B2K2yo) by _Dhalism._
*   _Max Guise_ [has written](https://bitkey.build/building-better-bitcoin-self-custody/) a Bitkey roadmap update for April 2025.
*   _PlebLab_ [has uploaded](https://www.youtube.com/watch?v=D2KDq4ohFXA) a video on how to build a Rust wallet with LDK Node by _Ben Carman_.

*   Do you want more? Subscribe and get No Bullshit GM report straight to your mailbox and [No Bullshit Bitcoin on Nostr](https://primal.net/news).
*   Feedback or tips? Drop it [here](https://simplex.chat/contact#/?v=2-7&smp=smp%3A%2F%2FZKe4uxF4Z_aLJJOEsC-Y6hSkXgQS5-oc442JQGkyP8M%3D%40smp17.simplex.im%2F5lAhCXwD4cOTh-mxg4k1Pj__qyFOq9GM%23%2F%3Fv%3D1-3%26dh%3DMCowBQYDK2VuAyEAGTT-YZp6tp3PhHey-nUOBn7Ig8wwdO8jeYCB3RACSmo%253D%26srv%3Dogtwfxyi3h2h5weftjjpjmxclhb5ugufa5rcyrmg7j4xlch7qsr5nuqd.onion).
*   [#FREESAMOURAI](https://freesamourai.com/)

Sign up for No Bullshit Bitcoin
-------------------------------

![Good Morning, Bitcoin - Wednesday, April 23rd, 2025](https://www.nobsbitcoin.com/content/images/2025/04/1gm195.jpg)

No Bullshit Bitcoin Is a Bitcoin News Desk Without Ads, Paywalls, or Clickbait.

 Subscribe .nc-loop-dots-4-24-icon-o{--animation-duration:0.8s} .nc-loop-dots-4-24-icon-o \*{opacity:.4;transform:scale(.75);animation:nc-loop-dots-4-anim var(--animation-duration) infinite} .nc-loop-dots-4-24-icon-o :nth-child(1){transform-origin:4px 12px;animation-delay:-.3s;animation-delay:calc(var(--animation-duration)/-2.666)} .nc-loop-dots-4-24-icon-o :nth-child(2){transform-origin:12px 12px;animation-delay:-.15s;animation-delay:calc(var(--animation-duration)/-5.333)} .nc-loop-dots-4-24-icon-o :nth-child(3){transform-origin:20px 12px} @keyframes nc-loop-dots-4-anim{0%,100%{opacity:.4;transform:scale(.75)}50%{opacity:1;transform:scale(1)}}

Email sent! Check your inbox to complete your signup.

No spam. Unsubscribe anytime.


34RnQ+sJ5muuVhqeUKdkffORyME4gajqGL7LjMFF8Z/Blz0yUncfzbhzSOMyAn6P?iv=+y1+LpnnQkg0ZMOwtFwxPQ==


tags: 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.

content:
![Good Morning, Bitcoin - Tuesday, April 22nd, 2025](https://www.nobsbitcoin.com/content/images/2025/04/1gm40.jpg)

_**Good morning** (good night?)!_ The No Bullshit Bitcoin [news feed](https://www.nobsbitcoin.com/rss-feeds/) is now available on [Moody's Dashboard](https://dashboard.clarkmoody.com/)! A huge shoutout to sir [_Clark Moody_](https://njump.me/nevent1qqspy9hy5pxfza4tuhk5zx7zls3t6dd6nppp2v3l9ead53tx0x2a0mgpz3mhxue69uhhyetvv9ujuerpd46hxtnfduqs7amnwvaz7tmwdaehgu3wd4hk6q3q5n94rarp3n7dz6edx9cugeshn0kcuxtugwu9nzprkpx7yekw7ygq27sgqj) for integrating our feed.

[![Good Morning, Bitcoin - Tuesday, April 22nd, 2025](https://www.nobsbitcoin.com/content/images/2025/04/a35b533e45a4fa2edbd0818cd6d0402fe007df98ac6c29c9262ff44aefcb6e20.jpg)](https://dashboard.clarkmoody.com/)

Headlines
---------

*   **Spiral welcomes _Ben Carman_.** The developer [will work](https://xcancel.com/spiralbtc/status/1914334079387914435) on the LDK server and a new SDK designed to simplify the onboarding process for new self-custodial Bitcoin users.

[![Good Morning, Bitcoin - Tuesday, April 22nd, 2025](https://www.nobsbitcoin.com/content/images/2025/04/image-35.png)](https://xcancel.com/spiralbtc/status/1914334079387914435)

*   **The Bitcoin Dev Kit Foundation announced new corporate members for 2025**, including [AnchorWatch](https://www.anchorwatch.com/), [CleanSpark](https://www.cleanspark.com/), and [Proton Foundation](https://proton.me/foundation). The annual dues from [these corporate members](https://bitcoindevkit.org/blog/_2025q1-new-foundation-members/) fund the small team of open-source developers responsible for maintaining the core BDK libraries and related free and open-source software (FOSS) projects.
*   **Strategy increases Bitcoin holdings to 538,200 BTC.** In the [latest purchase](https://www.coindesk.com/markets/2025/04/21/strategy-buys-usd555m-of-bitcoin-increases-total-stash-to-538-200-btc), the company has spent more than $555M to buy 6,556 coins through proceeds of two at-the-market stock offering programs.
*   **Spar supermarket experiments with Bitcoin payments in Zug, Switzerland.** The store [has introduced](https://bitcoinnews.com/adoption/spar-supermarket-switzerland-bitcoin/) a new payment method powered by the Lightning Network. The implementation was facilitated by DFX Swiss, a service that supports seamless conversions between bitcoin and legacy currencies.

[![Good Morning, Bitcoin - Tuesday, April 22nd, 2025](https://www.nobsbitcoin.com/content/images/2025/04/image-36.png)](https://www.linkedin.com/feed/update/urn:li:activity:7318277304881709057/)

*   **The Bank for International Settlements (BIS) wants to contain 'crypto' risks.** A report titled _"_[_Cryptocurrencies and Decentralised Finance: Functions and Financial Stability Implications_](https://www.bis.org/publ/bppdf/bispap156.htm)_"_ calls for expanding research into "how new forms of central bank money, capital controls, and taxation policies can counter the risks of widespread crypto adoption while still fostering technological innovation."
*   **"Global Implications of Scam Centres, Underground Banking, and Illicit Online Marketplaces in Southeast Asia."** According to the United Nations Office on Drugs and Crime (UNODC) [report](https://www.unodc.org/roseap/uploads/documents/Publications/2025/Inflection_Point_2025.pdf), criminal organizations from East and Southeast Asia are swiftly extending their global reach. These groups are moving beyond traditional scams and trafficking, creating sophisticated online networks that include unlicensed cryptocurrency exchanges, encrypted communication platforms, and stablecoins, fueling a massive fraud economy on an industrial scale.
*   **Slovenia is considering a 25% capital gains tax on Bitcoin profits for individuals.** The Ministry of Finance [has proposed](https://www.gov.si/novice/2025-04-17-v-javni-obravnavi-zakonska-predloga-s-podrocja-kriptosredstev-in-izvedenih-financnih-instrumentov/) legislation to impose this tax on gains from cryptocurrency transactions, though exchanging one cryptocurrency for another would remain exempt. At present, individual 'crypto' traders in Slovenia are not taxed.
*   **Circle, BitGo, Coinbase, and Paxos plan to apply for U.S. bank charters or licenses.** According to a [report](https://archive.is/dxbWM) in _The Wall Street Journal_, major crypto companies are planning to apply for U.S. bank charters or licenses. These firms are pursuing limited licenses that would permit them to issue stablecoins, as the U.S. Congress deliberates on legislation mandating licensing for stablecoin issuers.

> "Established banks, like Bank of America, are hoping to amend the current drafts of \[stablecoin\] legislation in such a way that nonbanks are more heavily restricted from issuing stablecoins," people familiar with the matter [told](https://www.theblock.co/post/351402/circle-bitgo-to-apply-for-bank-charters-coinbase-paxos-may-follow-suit-wsj) The Block.

*   **Charles Schwab to launch spot Bitcoin trading by 2026.** The financial investment firm, managing over $10 trillion in assets, [has revealed](https://riabiz.com/a/2025/4/19/rick-wurster-puts-harder-date-on-schwab-spot-bitcoin-launch-after-key-hire-and-400-surge-in-visits-to-its-crypto-site-but-isnt-pulling-down-crypto-red-flags-quite-yet) plans to introduce spot Bitcoin trading for its clients within the next year.

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

*   [**Bitcoin Safe v1.2.3**](https://github.com/andreasgriffin/bitcoin-safe/releases/tag/1.2.3) expands QR SignMessage compatibility for all QR-UR-compatible hardware signers (SpecterDIY, KeyStone, Passport, Jade; already supported COLDCARD Q). It also adds the ability to import wallets via QR, ensuring compatibility with Keystone's latest firmware (2.0.6), alongside other improvements.
*   [**Minibits v0.2.2-beta**](https://github.com/minibits-cash/minibits_wallet/releases), an ecash wallet for Android devices, packages many changes to align the project with the planned iOS app release. New features and improvements include the ability to lock ecash to a receiver's pubkey, faster confirmations of ecash minting and payments thanks to WebSockets, UI-related fixes, and more.
*   [**Zeus v0.11.0-alpha1**](https://github.com/ZeusLN/zeus/releases/tag/v0.11.0-alpha1) introduces Cashu wallets tied to embedded LND wallets. Navigate to Settings > Ecash to enable it. Other wallet types can still sweep funds from Cashu tokens. Zeus Pay now supports Cashu address types in Zaplocker, Cashu, and NWC modes.
*   [**LNDg v1.10.0**](https://github.com/cryptosharks131/lndg/releases/tag/v1.10.0), an advanced web interface designed for analyzing Lightning Network Daemon (LND) data and automating node management tasks, introduces performance improvements, adds a new metrics page for unprofitable and stuck channels, and displays warnings for batch openings. The Profit and Loss Chart has been updated to include on-chain costs. Advanced settings have been added for users who would like their channel database size to be read remotely (the default remains local). Additionally, the AutoFees tool now uses aggregated pubkey metrics for multiple channels with the same peer.
*   [**Nunchuk Desktop v1.9.45**](https://github.com/nunchuk-io/nunchuk-desktop/releases) release brings the latest bug fixes and improvements.
*   [**Blockstream Green iOS v4.1.8**](https://github.com/Blockstream/green_ios/releases) has renamed L-BTC to LBTC, and improves translations of notifications, login time, and background payments.
*   [**Blockstream Green Android v4.1.8**](https://github.com/Blockstream/green_android/releases) has added language preference in App Settings and enables an Android data backup option for disaster recovery. Additionally, it fixes issues with Jade entry point PIN timeout and Trezor passphrase input.
*   [**Torq v2.2.2**](https://github.com/lncapital/torq/releases/tag/v2.2.2), an advanced Lightning node management software designed to handle large nodes with over 1000 channels, fixes bugs that caused channel balance to not be updated in some cases and channel "peer total local balance" not getting updated.
*   [**Stack Wallet v2.1.12**](https://github.com/cypherstack/stack_wallet/releases/tag/build_226), a multicoin wallet by _Cypher Stack_, fixes an issue with Xelis introduced in the latest release for Windows.
*   [**ESP-Miner-NerdQAxePlus v1.0.29.1**](https://github.com/shufps/ESP-Miner-NerdQAxePlus/releases), a forked version from the NerdAxe miner that was modified for use on the [NerdQAxe+](https://github.com/shufps/qaxe), is now available.
*   [**Zark**](https://gitlab.com/1440000bytes/zark) enables sending sats to an npub using [Bark](https://codeberg.org/ark-bitcoin/bark).

![Good Morning, Bitcoin - Tuesday, April 22nd, 2025](https://www.nobsbitcoin.com/content/images/2025/04/image-37.png)

*   [**Erk**](https://blog.second.tech/erk-update/) is a novel variation of the Ark protocol that completely removes the need for user interactivity in rounds, addressing one of Ark's key limitations: the requirement for users to come online before their VTXOs expire.
*   [**Aegis v0.1.1**](https://nostr.band/note1ljdczm267y648fv3jwv2jwn3mu4ae6jyzzpq4v0h8cthf020lyyss9ymde) is now available. It is a Nostr event signer app for iOS devices.
*   [**Nostash**](https://github.com/tyiu/nostash) is a NIP-07 Nostr signing extension for Safari. It is a fork of [Nostore](https://github.com/ursuscamp/nostore) and is maintained by [_Terry Yiu_](https://njump.me/nevent1qqsx028h0k8vfqge897kcapvgplymm8grx8wchhssza4gm4csrj3wggzyqnhnu7e7sk8mmsh7rnteh8cn28e6kfdr83mrw7j0mcullg607vdz7ytpj2)_._ Available on iOS [TestFlight](https://testflight.apple.com/join/8TFMZbMs).
*   [**Amber v3.2.8**](https://github.com/greenart7c3/Amber/releases/tag/v3.2.8), a Nostr event signer for Android, delivers the latest fixes and improvements.
*   [**Nostur v1.20.0**](https://github.com/nostur-com/nostur-ios-public), a Nostr client for iOS, adds


hVWF8oYDmUpdQ89pJQKOwq/4fmOR9deWgs4vtqs50Xa9NaHg/krkfxBpxd0QdE9oRY5gml3HClJc+/3prZXBTg==?iv=eajzrQ1sIyyUmCxdKE9oZA==


MIAOkYCWDp9OkeYAwxeP3EfdZCBODa1JileU5O/nOS9lmfdVHsLmOYe3odIJaj1wE5s+rW14N0vFIHJ+wLluKQ==?iv=UOmSOJXqCH5Gg606PogymA==


u2lOidsChuhBDYH0lgxCGCRW2K2Kfa6Vm73XoKkcK6mcKWoETSnMwVAXOjpgw/oOfwWalQCSD5s7/NztfKPWLg==?iv=XQSpPyQlWAyuSdDLW1uEgw==


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

content:
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


tags: Jeff Walton shows how Bitcoin treasury firms like Strive are disrupting the $300T fixed-income market with Bitcoin-backed credit instruments.

content:
Key Takeaways
-------------

![TFTC - Market Insider: "Bitcoin Just Disrupted a $300 Trillion Fixed Income Market" | Jeff Walton](https://www.tftc.io/content/images/2025/09/Jeff-Walton.jpg)

Bitcoin treasury companies are using structured finance to push Bitcoin into the heart of capital markets, especially the $300T fixed-income arena, by issuing instruments like perpetual preferreds and convertibles that offer higher yields, heavy over-collateralization, and 24/7 mark-to-risk transparency. Jeff Walton maps his move from reinsurance to Strive to show how credit/risk skills translate directly, highlighting their cashless Semler acquisition as a blueprint for turning “zombie” firms into credit-improved, Bitcoin-backed platforms that access larger capital pools. He argues the real KPI is “Bitcoin per share,” that we’re still early, and that equity appetite is mixed while debt markets are already open. The “paper Bitcoin summer” critique is dismissed as short-term churn; the longer arc is risk repricing as capital gravitates to superior collateral and liquidity. Framed this way, Bitcoin isn’t being captured by Wall Street, Bitcoin is quietly recoding financial infrastructure.

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

*   “The fixed income market is a $300 trillion pool of capital. If you want to make the biggest splash in Bitcoin, you disrupt the fixed income market.”
*   “Every single company on the planet will eventually be holding Bitcoin on the balance sheet.”
*   “Semler was a self-proclaimed zombie company, then they started buying Bitcoin and accumulated over $500 million, suddenly they had optionality and downside protection.”
*   “Risk is mispriced globally. Most equities are leveraged to uncertain future cash flows. Bitcoin treasury companies are leveragingthe to money they already have.”
*   “Bitcoin isn’t being taken over by the suits, Bitcoin is taking over financial infrastructure.”
*   “Strategy has acquired 638,000 Bitcoin while CrowdStrike has effectively lost 18,000 in Bitcoin terms, yet CrowdStrike trades at a higher market cap.”

Conclusion
----------

This conversation frames Bitcoin treasury companies as the next frontier of financial innovation. Walton views them as both a lifeline for struggling firms and a disruptive force in the largest capital pools on earth. While skeptics point to volatility or “paper Bitcoin” suppression, the bigger picture is the gradual integration of Bitcoin-backed credit into global markets, creating new liquidity dynamics and repricing risk across the financial system. As Walton notes, the hated nature of this trade is precisely why it may deliver outsized returns: it challenges entrenched assumptions about equity, debt, and value storage. Ultimately, this episode underscores that Bitcoin’s destiny is not just as money, but as the backbone of a reconstructed global financial architecture.

Timestamps
----------

0:00 - Intro
1:08 - Jeff at Strive
5:36 - STRK
9:46 - Semler deal structure
13:28 - Paper bitcoin summer
17:47 - Obscura & SLNT
20:06 - Institutional appetite
23:26 - Critical treasury mass affecting long term price
27:53 - What are the products providing?
32:29 - STRC and Fed/Treasury
35:00 - Bitkey & Unchained
36:33 - Reinsurance history
46:46 - Opportunity Cost
47:30 - Soft landing, disrupting fixed income
51:16 - Operating business examples
57:53 - Companies missing out, S&P comparison
1:04:41 - What does S&P inclusion mean?

Transcript
----------

(00:00) The fixed income market is a $300 trillion pool of capital. If you want to make the biggest splash in Bitcoin, you disrupt the fixed income market. MSDR has amplified Bitcoin. This is a monumental idea. Every single company on the planet will eventually be holding Bitcoin on the balance sheet. Is incredibly early days.
(00:19) Us at Strive, we're aiming to be the Metaplanet of the United States. If you look at the Bitcoin rating, the collateralization rating actually improves by over 200% on the convertible bond when you combine the two entities and the the Bitcoin back balance sheet. Similar, they were a self-proclaimed zombie company and then they started buying Bitcoin and ended up accumulating over $500 million of Bitcoin.
(00:38) Paper Bitcoin Summer, these companies are buying Bitcoin and the price isn't going up. So, there's going to be some price suppression. STRC is a effectively like a high yield savings account. What they created is effectively a refinancing mechanism that can refinance daily. Crowd strike in Bitcoin terms. They've lost 18,000 Bitcoin.
(00:56) In that same time horizon, Strategy has acquired and accumulated 638,000 Bitcoin. So many people don't understand Bitcoin in the traditional financial world. \[Music\] Jeff Walton, welcome back to the show. Thank you. Happy to be here. A lot has changed since the last time you were here. It was eight months ago.
(01:22) And I I believe if I recall correctly, you were telling me off air that you were about to leave your reinsurance business to jump full uh full speed ahead into the Bitcoin world, the Bitcoin treasury world. Um it's appropo that we're meeting here September 23rd. Yesterday, September 22nd, you tweeted out, "Eight months ago, I was selling reinsurance this weekend.
(01:41) and the entire Strive team worked to tirelessly worked tirelessly to acquire a company that holds 5,021 Bitcoin in a cashless transaction that will be in M&A case studies for years to come. The world is changing fast. You can just do things. You're doing things. I'm doing things. Let's talk about uh the journey from January 29th when we published the last recording um of us meeting to discuss Bitcoin treasury strategies and today a lot has changed for you personally.
(02:06) Yeah, a lot has changed for me personally. Yeah, I was previously selling reinsurance. So, I was a reinsurance broker selling insurance to insurance companies, which a lot of people think this is an insurance role, but it was really a capital markets role.
(02:25) I was uh effectively selling volatility of insurance company balance sheets to hedge funds and and capital providers across the globe. So there was a a very clear opportunity and synergy for me to focus on what was happening in the Bitcoin ecosystem in the Bitcoin world because it's effectively capital markets transactions working with investors creating structured products uh volatility tranches thinking about risk and risk profiles from a probabilistic framework.
(02:52) Literally every single thing that I was doing in the reinsurance world was applicable to the what what was happening here in the Bitcoin world. It's very funny. When I when I left my job in reinsurance, I told them I wasn't doing anything.
(03:11) I was taking a break and they're like, "What are you talking about? What what do you mean? What do you mean you're not doing anything?" I'm like, "I'm focused on Bitcoin. I don't know. I don't know what yet. I don't know what I'm going to do, but I need to spend my time and energy in this area to figure out what's what's next for me. So, yeah, it was a bit of a confusion. They were bewildered.
(03:33) Let's just let's just say they were bewildered when I when I told them I was entering the space. And so, fast forward to where we are today. Uh, I was exploring different opportunities in the market and just continuing to have conversations, going to different events. Uh, in conversations with Matt and the Strive team, they had added me to the independent board um, to help grow their future Bitcoin treasury company.
(03:58) This was last May when they announced the uh, the reverse merger transaction that they were entering in. And after further conversations, there became a very clear opportunity for me to work in a role at Strive and have some synergy and be able to spend my energy in an appropriate place. So had a ton of conversations with them, their their team and Matt and understanding like what is this opportunity here and is this where I where I want to uh want to hitch myself to to this horse, right? And ultimately, this was exactly what I was looking to do is I wanted to work within a company and buy as much Bitcoin as humanly
(04:39) possible, structure capital markets transactions, work with investors, continue with education within the marketplace, think about risk and structured credit and finance and volatility. And this became a very apparent uh win for me personally. And the the alternative is, you know, thinking about trying to go do some of this stuff on your own.
(05:07) And the reality of building a Bitcoin treasury is really difficult and you need a strong team. Like for example, we just went through this M&A transaction and and folks were working all day every day overnight. And we've got a team of I don't know 10 10 12 people that were touching different pieces of this. And that's really hard to build from scratch.
(05:30) And joining a company that was already focused and putting energy in this direction was really the lowest hanging fruit, like the best the best place to park my time and energy. Yeah. Again, it's uh it's been fun watching um from the sidelines you've been doing this and I think you're following your dreams to be a little corny, but really going after something that uh that you're passionate about.
(05:52) I I love to see people doing things that they're passionate about. And I think the last time we spoke, obviously the conversation was focused heavily on strategy. I believe they had just launched uh strike um that preferred offering uh and obviously since then they've issued more preferreds uh and we we can get into that. But I think really jumping off the conversation as it pertains to treasury companies.
(06:18) I think one of the uh topics that we discussed in January is like who is going to win in this market? What is it just going to be strategy? Is it going to be winner or take all? Are people just going to copyca


AD+MEr1zk+9Hxxb5WQhVMASLFkTvT3yk0+8PjwBDVRRxIKlEY4pmzkwQi9MsVHcYQE1CwZ2KGNfdKYT5dboI0w==?iv=Weu1MttP9/auPkYApzjZkg==


content: e

content: 17de3b1a7cb50150c4d82bf3271bda472faaa3b5d5bfa5dc8588609d52d54407

content: e

content: 9a88d2b7ccd96572e2d5b576928ae8411aeafbad8f2ea4bcbd46fa15011ebf95

content: e

content: 76846cb69afa3bf5e753652961ecfa513229698d90930a4e7ede9f5b0f0c2a05

content: e

content: 873b75e7e099512496f8704b31ffd5b47dcd8ca651d10d536481d83ba944e476

content: e

content: ca1c1027beb18b1ac9eadaa23f3b4a3a16d03dd42f6a61b3439f9b72512de037

content: e

content: 08753e603f6cd01b12163ab663f8a90637c13cbe8c8117d2cacadac5f744ff6a

content: e

content: 350851e2cc1082a34254b01813185ee89699b6b0937fd78d57c2106504481755

content: e

content: 7ec280dc4761638559d915fa478f37a63f4fd295d96d97e9b54117631d06db2b

content: e

content: fcd79055f501c9368a06cbc9827faf6f82576a8e3e805806eb363d3c604fb387

content: e

content: e9851015c7563a3b0146a30475e38620fdbea7735461c5998766072c36d0fed1

content: e

content: 34bf5b91f7615de530b013f40f5233a6b4804b819c5a819cf137f3feb7d93c3a

content: e

content: 4a6a1b54e0293188776084e511f0bac045fc596bb7266e1bf74d83feda7c4b5f

content: e

content: 98bd3e863374e9da3851b4eb76ace342783af81b8ecb0b22949d813903b01284

content: e

content: eaf274fe978935b2ac6a42ae0a5dabdff60fd2f7fce291ed49a009a948cf19c5

content: e

content: 7664a53526783908333a52d069369cef95142ad73c16c8a33ec3acbe264d494d

content: e

content: 5d7a7d43631fe18566b9d8f297cc01a21bcf59ccb10b5da5a339f831312579e7

content: e

content: a7d95677d511a60909a7987ecdc7f32e31a9f78c6ddff75cb005e8ab50ab018a

content: e

content: 0fd77ce2f958ddcea4f5f0bfcbe64ec0df8975e4856572d3ca83b05f43d628d2

content: e

content: f3e8cda08aac655158073e8762d423a08b692b27e53a2f1afc61e8725f3617ce

content: e

content: 209aaac7b58355242ba9bf5eaab5d06abebdd48dac8ca4f1379c0819a1653409

content: e

content: 84747ca9bac5f30427ab24ab651b0e118f9298f81e78559d2210726275e89c4f

content: e

content: 3d34ec64781c48db14532d704871353eb53e55b8a6d97de2a7436d825c19e85a

content: e

content: cf34c7c8b3d3e7d137726a41523dc8576f8bcbfeb62a93e72e4f40f83d83b538

content: e

content: 48136ea0ae5e91044bb0de2b6ff3b5cdff3b53bf0c3dc0901b18ca0c85d6167c

content: e

content: 7d881016ffa02f69279c33e29ec14d6957ebceffd0e5de1ee107c6b92cfdf561

content: e

content: be066d58e7aa17b0b05146741806a65ca931ad52995a8fc0ad17cb81117b93a7

content: e

content: 45aaa8865a5f6bc51f8ed663fa71686e485c81d2d9f888327ce3acb3626b1da8

content: e

content: ef2ecab78a988e6f7c7f0cebb064fa59e59aefc65aa1bdb3d5bbb10fb9db0fc9

content: e

content: 450de8bedec85fb84fb4a7842d1721e5c51a7493888eeb001402f1b26b4b7960

content: e

content: de8617d06f6b340ea3275e6c05f9d186b9533f8ad4676288665b7db8fb98e2e1

content: e

content: c4f164dd40434a0adbc176cbc9d358f076ac57b6eb5d2f40738fa0d919a8db9f

content: e

content: 699825defea2c7010f612f291cbc7f99b649fdf9373c1f42d5f8b9e3367c02bc

content: e

content: cb328a1a6faf40f13f44c075ac15172e28b874f270cd26c8d76bfebf76767f6e


uCnKaRGooqMnAPrThTkUnRp4886Qju+cXDryHaCFOHq6+Kb9PUdUh00J9WEaGTpk?iv=bAcaqvz/AFA6PxLB6vUkXg==


Coinbase will undergo a system upgrade on Oct 25, 2025, starting ~7am PT (10pm Beijing). Trading, deposits & withdrawals will be paused for up to 4 hours. This ensures a secure & reliable platform. Check Coinbase for updates!

#crypto #blockchain #news


tags: Bitcoin has many properties. It's influence on your psyche is probably its most powerful.

content:
Marty's Bent
------------

[![Bitcoin: The Greatest Founder's Coach Out There](https://www.tftc.io/content/images/2025/09/Screenshot-2025-09-29-at-1.50.20---PM.png)](https://x.com/TFTC21/status/1972693315695833320?ref=tftc.io)

via [TFTC](https://x.com/TFTC21/status/1972693315695833320?ref=tftc.io)

![Bitcoin: The Greatest Founder's Coach Out There](https://www.tftc.io/content/images/2025/09/martybent_A_man_sitting_at_his_desk_weighing_two_things_on_a_ba_324ba7e2-0721-4109-b7ee-4a6235ffa756.png)

I had the pleasure of sitting down with my friend Luke Thomas last Friday to record an episode of the TFTC podcast:

Luke has been instrumental in helping me think about how we're building the business side of things at TFTC for a few years now. He's someone I greatly admire and has always been incredibly generous with his time and has been more than willing to knowledge share as it pertains to trends he's seeing in AI, marketing and business building. When you find the time, I highly recommend you check out our discussion. Especially if you're curious to learn about the state of AI, how businesses are applying it correctly and incorrectly, what businesses will thrive moving forward and the intersection of AI and bitcoin.

I won't spoil the whole conversation, but I wanted to expand on one of the topics we discussed; viewing bitcoin as a "founder's coach". This is a concept that we have never articulated in this way, but is core to everything we do at [Ten31](https://www.ten31.xyz/?ref=tftc.io). If you've been reading this newsletter for long enough I'm going to take it that you've also been holding bitcoin and if you've been holding bitcoin for long enough I'm going to assume that it has rewired your brain in terms of how you approach your personal finances. Once you experience the positive benefits of holding bitcoin as it monetizes and increases in purchasing power, you are inevitably forced to audit everything else in your life that you allocate money to and seriously weigh the opportunity costs.

"Would my money be better spent at the bar, or does it make more sense save some money and buy some bitcoin instead?"

"Should I stretch for that second home we'll only live in for a couple of months a year, or should I buy bitcoin instead?"

"Am I working hard enough? Are there other things I could be doing on the side to make more money to save in bitcoin?"

Bitcoin forces you to see the opportunity cost in everything. The impetus for us creating the [Opportunity Cost](https://www.opportunitycost.app/?ref=tftc.io) extension was to help make this process easier and crystal clear.

But, as Luke notes and we viscerally understand at Ten31, this same concept applies to businesses and the founders who run them. Once you put bitcoin on your company's balance sheet, it immediately goes to work as a founder's coach that forces you to considerably weigh opportunity costs, lights a fire of urgency under your ass to scale revenue and profitability as quickly as possible, and - most importantly - think with a very long-term perspective in mind. Every decision is met with the nagging question, "Is this going to help us accumulate more bitcoin?"

We've seen bitcoin's role as a founder's coach have profound effects on the companies we've invested in at Ten31. Many of the companies in our portfolio have raised money, allocated a material portion of their raise to establish a bitcoin treasury, and have had the luxury of not having to go back to the market to raise and dilute their equity. On top of this, with the opportunity cost of capital allocation brought to the fore of every decision made within the company, which has enabled companies to scale revenue and reach profitability with team headcounts that are far smaller than what the startup world has come to expect over the last three decades.

Jack Mallers talks about this a lot in regards to what he and his team have built at Strike. They are six years old, very profitable, scaling extremely fast, have more operational exposure globally than Coinbase and have done so with a head count lower than 100.

The founder's coach feature of bitcoin is profoundly powerful for individual companies. I've seen it up close and personal here at TFTC and across the portfolios of companies we're invested in at Ten31. I can only imagine the compounding second and third order effects on the economy, quality of life and the strength of the human experience when every company runs on a bitcoin standard.

It's fitting that I had this conversation with Luke on Friday and committed to writing about this part of our conversation today because I just landed in Utah for our annual Ten31 portfolio company retreat. I'll be spending the next few days with the Ten31 team and executives from our portfolio to expand on this idea, many others and how we can work harder and smarter to bring about a bitcoin standard.

We're going to win.

* * *

### This Will Be the "Most Hated Rally" of the Next Decade

Jeff Walton predicts Bitcoin treasury strategies will spark the most despised market rally of the next decade. He argues this hatred stems from a fundamental clash of worldviews - traditional finance professionals can't grasp why companies should hold Bitcoin, while many Bitcoiners don't understand sophisticated leverage strategies. This creates a perfect storm of misunderstanding from both camps.

> "Risk is mispriced globally... I think there will be a risk repricing over time that is just going to confuse so many people."- [Jeff Walton](https://x.com/PunterJeff?ref=tftc.io)

Walton believes these strategies are fundamentally reshaping finance by demonstrating that Bitcoin-backed securities offer superior risk-adjusted returns compared to traditional corporate debt. As more companies adopt these strategies and outperform traditional investments, the entire financial world will be forced to reconsider basic assumptions about value, risk, and corporate treasury management - a painful but necessary evolution.

Check out the [full podcast here](https://youtu.be/EAjpgYWZ2zk?ref=tftc.io) for more on M&A strategies, Bitcoin-backed credit instruments and S&P 500 inclusion dynamics.

* * *

### Headlines of the Day

[BLS Halts Data if US Government Shuts Down](https://x.com/WatcherGuru/status/1972697688635289727?ref=tftc.io)

[Bitcoin Credit Enables Free Market Soft Landing](https://x.com/TFTC21/status/1972684793956479394?ref=tftc.io)

[Momentum Builds on COVID Vaccine Exposures](https://x.com/TFTC21/status/1972718516550684954?ref=tftc.io)

[Coinbase CEO Bullish on Legislation](https://x.com/WatcherGuru/status/1972714511821156780?ref=tftc.io)

[Gold Hits All-Time High Above $3830](https://x.com/BitcoinMagazine/status/1972710018119074021?ref=tftc.io)

* * *

### Bitcoin Has Crossed the Rubicon

This extended $75k–$110k range has caused some to wonder if the bull run is exhausted. But what if the on-chain evidence tells a totally different story? Join James Check (Checkmate of Checkonchain) and Connor Dolan for a data-driven discussion on what a maturing bitcoin market means for the road ahead.

James will break down:

*   Institutions reshaping the cycle: ETF flows and institutional allocator demand setting higher floors
*   Chopsolidation: why time-pain in the $75k–$110k range signals resilience, not
    exhaustion
*   Conviction on display: heavy distributions absorbed while long-term holders remain in control

On-chain metrics show bitcoin has crossed the Rubicon—from a nascent store of value into a true institutional-grade asset class. This session will help you understand what that means for this bull market and beyond—and how you might position yourself appropriately.

**Tuesday, September 30th at 3PM CT — online, free to attend.**

[![Bitcoin: The Greatest Founder's Coach Out There](https://www.tftc.io/content/images/2025/09/D1-copy-1.png)](https://unchnd.co/3Ve67mv?ref=tftc.io)

[Register Now](https://unchnd.co/3Ve67mv?ref=tftc.io)

* * *

### Obscura – The World’s Best VPN Built by Bitcoiners

Created by Carl Dong (former Bitcoin Core contributor), unlike other VPNs, it _can’t_ log your activity by design, delivering verifiable privacy you can trust.

[![Bitcoin: The Greatest Founder's Coach Out There](https://www.tftc.io/content/images/2025/08/newsletter-1.jpg)](https://obscura.net/?ref=tftc.io)

[USE CODE TFTC25](https://obscura.net/?ref=tftc.io)

**Outsmarts internet censorship**: works even on the most restrictive Wi-Fi networks where other VPNs fail.
**Pay with bitcoin over Lightning:** better privacy and low fees.
**No email required:** accounts are generated like bitcoin wallets.
**No trade-offs**: browse freely with fast, reliable speeds.

**Exclusive Deal for TFTC Listeners:**
Sign up at [obscura.net](https://obscura.net/?ref=tftc.io) and use code **TFTC25** for **25% off your first 12 months**.

Now available on **macOS, iOS, and WireGuard**, with more platforms coming soon — so your privacy travels with you wherever you go.

* * *

_Ten31, the largest bitcoin-focused investor, has deployed $200M across 30+ companies through three funds. I am a Managing Partner at Ten31 and am very proud of the work we are doing. Learn more at_ [ten31.vc/invest](https://ten31.vc/invest?ref=tftc.io)_._

* * *

**Final thought...**

I'm honored to know the REAL John Arnold.

* * *

_Download our free browser extension, **Opportunity Cost**:_ [https://www.opportunitycost.app/](https://www.opportunitycost.app/?ref=tftc.io) start thinking in SATS today.

_Get this newsletter sent to your inbox daily:_ [_https://www.tftc.io/bitcoin-brief/_](https://www.tftc.io/bitcoin-brief/)

_Subscribe to our YouTube channels and follow us on Nostr and X:_

 @media screen and (max-width: 480px) { .mobile-padding { padding: 10px 0 !important; } .social-container { width: 100% !important; max-width: 260px !important; } .social-icon { padding: 0 !important; } .social-icon img { height: 32px !important; width: 32px !important; } .icon-


tags: Luke Thomas shows how AI agents and Bitcoin treasuries give startups unbounded leverage and force smarter capital allocation.

content:
Key Takeaways
-------------

![TFTC - The AI Boom Will Change Bitcoin Forever! Expert Explains How | Luke Thomas](https://www.tftc.io/content/images/2025/10/Luke-Thomas.jpg)

Marty sat down with Luke Thomas, founder of [Formable.ai](https://formable.ai/?ref=tftc.io), who argues that AI and Bitcoin together represent a once-in-a-generation shift in how businesses form, operate, and scale. He frames AI as “unbounded leverage,” where startups can achieve outsized results with far fewer resources, while Bitcoin serves as a financial foundation that forces founders to think more carefully about capital allocation. Startups that embrace AI agents as digital co-workers can move faster than incumbents weighed down by tech debt, rigid structures, and resistant employees. Meanwhile, Bitcoin rewires treasury management, creating a new “hurdle rate” for profitable businesses: outperform Bitcoin or risk irrelevance. Luke emphasizes that small businesses have the greatest advantage, since they can adopt AI and Bitcoin without bureaucratic baggage, enabling new models of growth and capital preservation in a chaotic, shifting landscape.

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

“We actually want to beat the hurdle rate. We want to beat the Bitcoin appreciation rate. If we don’t, we’re cooked.”

“AI agents are like little digital employees… they can contain a bunch of information about your business and do the job better than a human, because the agent doesn’t forget.”

“Most businesses sprinkle AI on top of old systems. Startups can rebuild from scratch and harness unbounded leverage.”

“Holding even a little Bitcoin on your balance sheet is like hiring a coach, it rewires how you think about building a business.”

“The number one benefit of a Bitcoin treasury isn’t price appreciation, it’s that it makes you a better founder.”

Conclusion
----------

This conversation highlights how AI and Bitcoin together are reshaping the future of business. AI delivers unprecedented productivity through digital co-workers, while Bitcoin disciplines capital allocation and provides a hedge against fiat debasement. Incumbents struggle under old-world structures, but startups that embrace these technologies gain an edge in speed, adaptability, and financial resilience. For Luke, the combination of AI’s unbounded leverage and Bitcoin’s financial foundation marks a paradigm shift: the businesses that adapt will thrive, while those that cling to legacy systems will fade.

Timestamps
----------

0:00 - Intro
0:45 - Luke’s Background
7:11 - Unbounded leverage, AI adoption struggle
13:54 - Osbcura & Bitkey
15:39 - AI evolution retrospective
22:59 - AI agents
30:05 - SLNT & Unchained
31:37 - AI disruption of incumbents
38:41 - Bureaucratic roadblocks
41:59 - AI arms race
51:22 - Product design and UX
55:31 - Building at Formable
1:01:50 - AI-first, decentralization
1:05:50 - Navigating hype
1:12:01 - AI at TFTC
1:20:32 - Bitcoin in the AI strategy
1:29:01 - Adoption timeline for Bitcoin treasuries

Transcript
----------

(00:00) When you're able to store your capital in a better way, are you going to hire that super senior leader that wants a ton of money and may not work out? Or you could just shovel that into Bitcoin. I think that it's going to be a wonderful thing for businesses. We actually want to beat the hurdle rate. We want to beat the Bitcoin appreciation rate. If we don't, we're cooked.
(00:19) These startups that come out of nowhere and it's like, hey, we went from 0 to 100 million in like 8 months. No one's ever seen that before. You don't see a lot of it in the news. You will see more of it. We live in an age where there's kind of this like concept of like unbounded leverage. Your balance sheet is clearly an area where there needs to be some amount of leverage as well.
(00:35) We're only starting to see the beginning in the decade plus I've been in tech. This is easily the biggest shift I've ever seen. Luke, this is uh a great pleasure for me. I've been waiting for this this episode for I think years now. Well, uh I'm definitely excited to be here and uh to all your listeners, I'm sorry.
(01:01) Uh there'll be lots of rants, lots of uh lots of uh unhinged maybe unhinged thoughts. Um but I'm really excited to be here. Well, you've had an open invite to the show for I think at least two years now, and you said you've been saying for two years, when the time's right, and I feel like I have something to say, I will let you know. And that happened a couple weeks ago, and here we are.
(01:25) um thinking of how to start off this episode. I think it's important for the audience to get context. Luke has been uh somebody who's helped me immensely behind the scenes here at TFTC think about thinking about how to position uh the brand and how to increase our SEO. Not only that, how to lean into this AI revolution.
(01:47) And I think just to start off the conversations, get a little history of your career, what you've built, where you've worked, what you're working on now, and what people may may learn if they stick around for the whole episode. Yeah, sure. So, I'll do my best to keep it short. Um, yeah. So, a little bit about me. Um, I grew up in the middle of nowhere in Maine.
(02:10) Uh, up until, uh, when I first went to college, I had always lived on a dirt road. Um, I grew up in a uh small town um in uh in central Maine. It was about 800 people. I think half of the town was on some form of general assistance. Um I was homeschooled growing up. Um I uh attended, yeah, a mixture of homeschooling, private schooling. Um in high school, I ended up getting into web design.
(02:36) Um because I wanted to customize my MySpace profile. I thought it would be cool and maybe uh maybe more girls would talk to me. Um and so uh so that's what I did. I ended up uh basically devoting call it half of day. So I would homeschool for half of the day and then for like the other half of the day I would go to what's called a vocational technical school.
(03:00) Um and uh you know I was in a class with a bunch of kids that wanted to create video games. And I thought web design was cool and I thought maybe there's something there. Little did I know that it would basically influence the rest of my life to date. Um, and so yeah, in high school I kind of learned how to code very uh I wasn't very good at it, but I started creating websites for, you know, small businesses. I ended up um graduating.
(03:24) I I went to school one year in Boston because I thought sports management be would be really fun. Turns out that spending, you know, tens of thousands of dollars a year for fizzed classes probably wasn't the best idea. So I ended up uh uh going to school for marketing and uh paid my way through school.
(03:44) Um kind of did the consulting thing, ended up graduating college uh and wanted to join the startup thing. And so um long story short, my wife and I the second we graduated, we moved um to Boston. I started working in early stage tech companies. I originally joined as an engineer. Um quickly realized I wasn't good at writing code.
(04:03) Uh but I I always viewed uh writing code as a means to an end. For me it was like I loved the uh to grow businesses. And so I ended up uh kind of falling into this uh industry called like growth um which is you know how to think about marketing through a programmatic um lens like a programmer would. And anyway, did that for a few years.
(04:28) Um, you know, learned SEO, learned a bunch of, you know, internet marketing techniques and ended up falling down the product rabbit hole largely because, you know, when you build, uh, when you're building like a startup that is, you know, uh, like a digital product, um, a lot of the growth work, so to speak, that you do ends up actually being product work.
(04:46) It's like how can you create a product where these these like flywheels that help you grow at a low cost. So, you know, for those are who are familiar with like Dropbox, right? It's like people sign up for Dropbox, they get free space. If you want more free space, you share it with a friend. I became very obsessed with that. Um, and ended up doing that for a while.
(05:03) Um, in 2019, I decided to make the plunge, decided to start a remote work um, software company. I saw a bunch of these um, you know, fully distributed companies building their own like internet is the best way of describing it. um Zapier and Stripe and all these kind of well-known uh remote companies had kind of hand rolled their own systems.
(05:26) So I started that and then six months later COVID hit um and so we experienced a lot of growth. Uh I did that for about two years but I ended up shutting the business down because I didn't see a clear path to scaling um on the revenue side in particular. So I ended up joining Zapier for about three years and uh went super deep there on AI and automation. And so yeah, in many ways a culmination of um what you know your listeners will probably hear is like maybe a little bit more of a deeper dive on AI, what it looks like um how it's changing things.
(05:56) Um I also uh left uh about two months ago and I'm I started a new company called Formable. We basically are making it easy for businesses to respond to inbound leads way faster. And so for a lot of businesses, um, you have a contact form on your website. When someone fills it out, they usually have a high level of intent. You want to get back to them as fast as you can.
(06:15) Well, we're building simple and easy to use tools that make it easy for businesses to get back to their c potential customers way faster using AI and automation and a better um data collection or form uh experience. So longterm though, we we want to build kind of a a new school uh marketing automation platform, which is just like making it easy for businesses of all shapes and sizes to um market in a way where you're leveraging AI as much as p


tags: Whitney Webb reveals how Epstein ties, digital IDs, and transhumanism drive a surveillance grid, and why Bitcoin and local resilience are vital to resist.

content:
Key Takeaways
-------------

![TFTC - Whitney Webb Exposes Hidden Secrets About Epstein, Digital IDs & Transhumanism Plot | Mark Goodwin](https://www.tftc.io/content/images/2025/09/Whitney-Webb.jpg)

Whitney Webb and Mark Goodwin reveal how Epstein-linked ventures, predictive policing firms like Palantir, and digital ID mandates are converging into a global surveillance-financial control grid. From Vietnam’s mass biometric debanking to the U.S. Genius Act’s quiet push for digital ID, governments are exploiting crises to centralize power, censor dissent, and restrict financial freedom. This is part of a broader transhumanist agenda championed by elites like Peter Thiel and Curtis Yarvin, who envision a techno-feudal order. Yet resistance is possible through Bitcoin, Nostr, open-source AI, local self-reliance, and community resilience.

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

“Carbine 911 was financed heavily by Jeffrey Epstein… now they’ve slowly taken over the 911 call systems of counties across the United States.”

“In the U.S., it looks like it’s going to slide in with the Genius Act, framed as an essential pillar to financial regulation.”

“Vietnam closed 84 million bank accounts, telling people they could be rebanked if they agreed to biometric ID.”

“They capitalize on real tragedies to justify bigger budgets, more control, and removal of liberties, it’s the same strategy of tension used for decades.”

“Their goal is a humane alternative to genocide: virtualizing the unproductive into pods with immersive VR… a rich, fulfilling life in a completely imaginary world.”

“Digital ID won’t work unless everybody complies. We need to normalize pushing back as much as possible.”

“The end result of cryptocurrency might literally be the U.S. Treasury running the entire financial system if people don’t fight back.”

“Go meet your neighbor, start a garden, raise chickens. Local resilience is how we resist being herded into digital corrals.”

Conclusion
----------

The episode warns that crises, whether mass shootings, terrorism, or financial shocks, are being used to justify an expanding technocratic state, threatening privacy, sovereignty, and freedom. But the antidote lies in building parallel systems: decentralized tools like Bitcoin and Nostr, independent media, and local networks of trust and resilience. The battle is between compliance with digital serfdom or proactive steps toward sovereignty.

Timestamps
----------

0:00 - Intro
1:42 - Palantir mafia and stablecoins
7:57 - Vietnam debanking
10:48 - Noncompliance and speech laws
19:44 - Obscura & Bitkey
21:29 - Precrime infrastructure
30:28 - Platform pressure
34:32 - Al-Qaeda's diplomatic welcome
37:35 - Great Reset rebrand
44:48 - Elite transhumanists
56:29 - SLNT & Unchained
58:01 - Patriot Act expansion
1:04:52 - Manufactured political division
1:23:34 - AI independence and physical media
1:38:58 - Touch grass

Transcript
----------

(00:00) He said, quote, "Our goal, in short, is a humane alternative to genocide, the removal of undesirable elements from society, but without any of the moral stigma. A virtualized human is in permanent solitary confinement. The cell contains an immersive virtual reality interface that allows him to experience a rich, fulfilling life in a completely imaginary world.
(00:25) " In 2019 specifically, they really started selling themselves as preventing mass shootings before they happened. Carbine 911 was financed heavily by Jeffrey Epste. Now, they've slowly taken over the 911 call systems of a litany of counties across the United States. Palanteer was specifically really created to be a pre-rime entity. When people like that say they're not spying on Americans, it's kind of hard to trust them.
(00:44) Kirsty is pushing through digital ID to stop illegal immigration, but it seems like in the US they're actually instead of sneaking it through border stuff, it's going to slide in with the Genius Act. the definition of how the government defines domestic terrorism. It includes people really on both sides of the divide.
(01:02) People that are against perceived government overreach, for example, they use whichever group is convenient to pander to their base to justify us giving up liberty for perceived security. A few of the platforms left where people can kind of have a somewhat of a public square, they're actually a centralized choke point. They're actually picking and choosing companies that have a less chance of being independent.
(01:19) The so-called libertarian elites behind people like JD Vance are very overtly transhumanist and think that the only way forward is to basically merge with machines. They are playing us against ourselves and some of them play the role of we're elites on this side and we're elites on the other side to help engineer the divide and conquer necessary to hurt us into this cattle pin.
(01:43) Guys, it's been 10 and 1/2 months since we since we last caught up. That's a long time. Jeez. A lot of time was we recorded uh I believe November 10th, 2025, which was 2 days after the election. We talked about Palunteer Mafia coming in. And when I was thinking about how to start this conversation, I'm sure you guys saw it, but Alex Karp at the All-In Summit very confidently letting the people of the United States know that Palunteer is not spying on individual Americans.
(02:14) At first I was like, "Oh man, maybe I've really misunderstood Palanteer." And then I was like, "Wait a second." Like, "How how is that possible?" Yeah. Do you remember when like James Clapper lied about how they were uh spying on Americans under oath and didn't get in trouble for it? Mhm. Yeah. I think when people like that say they're not spying on Americans, it's kind of hard to trust them given a lot of the precedents, you know. Yeah. James Clapper, NSA.
(02:43) The NSA is not going to work with Palanteer, though. They can't get the contracts. They don't spy enough. That's what was told. Well, um, pretty sure the contract for all 18 US intelligence agencies. Yeah. Well, I guess a year into the Trump admin, the the last episode we did was like what to expect the next four years.
(03:04) Um, and I think the crux of that conversation revolved around sort of financial stable coin implementation. And I think it's pretty clear that that was a very strong priority this administration. They passed the Genius Act rather quickly. Obviously, we're talking about the PayPal Palunteer Mafia getting more ingrained in the surveillance state here. That seems to be happening.
(03:29) Um, and I think one thing we highlighted was with the immigration policy, watch out for the border. digital IDs are probably um the borders where they're gonna basically Trojan horse digital IDs in. And so yeah, it I mean that's still possible. I think that's definitely what's happening in the UK though.
(03:50) So Kier Starmer is pushing through digital ID to stop illegal immigration, which um you know, previously the Labor Party in the UK was pushing it. You know, this is we're going to stop hate speech and stop online bullying. Um, but it seems like in the US they're actually instead of sneaking it through border stuff and on on those same, you know, um, justifications that the UK government is using, it looks like it's going to slide in with the Genius Act.
(04:14) Um, considering what they've, uh, some of the stuff they've put out asking for comment on uh, after its passage, sort of framing digital ID is an essential pillar to the implementation of um, of the Genius Act. So, so somebody somebody who uh prized himself on being on the cutting edge of all this, I was unaware that digital ID was tied into this. I I assume some KYC AML stuff, but didn't realize.
(04:38) Yeah, it's not it's not directly like there's nothing in the Genius Act specifically talking about digital ID. There's obviously a lot about know your customer and bank secrecy act stuff and and what have you, but I think the the bigger well well so as it relates to the Genius Act specifically, the Treasury did open up, you know, asking for comments and within that, you know, proposition asking for for public comment.
(05:04) they did bring up digital ID and um you know I think people like Lola Leites at the Rage has been covering a lot of the the Genius Act implications for like you know basically using articles of the Patriot Act to push towards a lot of this stuff which is obviously not good but I think what's actually kind of interesting is not so much about the US yet although I think that's it's pretty inevitable that that will come at some point but we're actually seeing the downstream effects of the stable coin legislation passing in the US, other places in the world now, like in the UK, they're limiting how many dollar stable coins or attempting to limit how many dollar
(05:38) stable coins a UK citizen can hold. Um and then we're seeing, you know, mass debanking in Vietnam. You know, I think it was something like 70 something million bank accounts um were closed. Um you know, basically saying, you know, we'll we'll rebank you if you agree to this biometric stuff and uh you know, basically implemented digital ID.
(06:07) Um, and I think the reason for that is, you know, when there's a proliferation of US dollar stable coins across the world and, you know, now there's even avenues for yield to be given to those stable coins, which we're going to see right at some point. Um, you know, why would any foreign national hold anything other than, you know, dollars? Hopefully, you know, Bitcoin if if if you're into that.
(06:31) Um, but why would you hold a local currency when you can hold dollars, get yield from it, and all you need to do to get to it is have, you know, a smartphone. So, I think countries around the world, the euro, you know, the ECB is now putting out comments being like, we're screwed if we let the dollar stable coins take over cuz why would


Alive and kicking


content:
[![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


tags: Notedeck is a modern, multiplatform Nostr client built with Rust. It provides a feature-rich experience for interacting with the Nostr protocol on both desktop and Android platforms.

content:
[Contribute to keep No Bullshit Bitcoin news going.](https://geyser.fund/project/nobsbitcoin)

*   "Today we're launching the beta version of our multiplatform Nostr browser! Think Google Chrome but for Nostr apps. The beta is our big first step toward this vision," [announced](https://njump.me/nevent1qqs2dseuw3d4sqkyt97pzq3vg5ncx6zv2fk6ummejf88ezesa2exkrc8y4zm9) Damus.
*   This version comes with the Dave Nostr AI assistant, support for zaps and the Nostr Wallet Connect (NWC) wallet interface, full-text note search, GIFs and fullscreen images, multiple media uploads, user tagging, relay list and mute list support, along with a number of other improvements."

> "Included in the beta is the Dave, the Nostr AI assistant (its Grok for Nostr). Dave is a new Notedeck browser app that can search and summarize notes from the network. For a full breakdown of everything new, check out our beta launch [video](https://njump.me/nevent1qqs2dseuw3d4sqkyt97pzq3vg5ncx6zv2fk6ummejf88ezesa2exkrcpzemhxue69uhhyetvv9ujumn0wd68ytnzv9hxgq3q8m76awca3y37hkvuneavuw6pjj4525fw90necxmadrvjg0sdy6qsncyhyu)."

[![Damus Notedeck v0.4.0 Beta: Zaps, Dave AI Assistant, Android Improvements](https://www.nobsbitcoin.com/content/images/2025/05/image-3.png)](https://njump.me/nevent1qqswjgzrrcmhn3e98y5xrar5t9tq78sgt09e38783fnxqerucff3ppczyqewrqnkx4zsaweutf739s0cu7et29zrntqs5elw70vlm8zudr3y26au00v)

What's new
----------

*   Dave Nostr AI assistant app.
*   GIFs.
*   Fulltext note search.
*   Add full screen images, add zoom, and pan.
*   Zaps! NWC/ Wallet UI.
*   Introduce last note per pubkey feed (experimental).
*   Allow multiple media uploads per selection.
*   Major Android improvements (still WIP).
*   Added notedeck app sidebar.
*   User Tagging.
*   Note truncation.
*   Local network note broadcast, broadcast notes to other notedeck notes while you're offline.
*   Mute list support (reading).
*   Relay list support.
*   Ctrl-enter to send notes.
*   Added relay indexing (relay columns soon).
*   Click hashtags to open hashtag timeline.
*   Fixed timelines sometimes not updating (stale feeds).
*   Fixed UI bounciness when loading profile pictures
*   Fixed unselectable post replies.

![Damus Notedeck v0.4.0 Beta: Zaps, Dave AI Assistant, Android Improvements](https://www.nobsbitcoin.com/content/images/2025/05/notedeckv041.jpg)

[**Announcement**](https://njump.me/nevent1qqs2dseuw3d4sqkyt97pzq3vg5ncx6zv2fk6ummejf88ezesa2exkrcpzemhxue69uhhyetvv9ujumn0wd68ytnzv9hxgq3q8m76awca3y37hkvuneavuw6pjj4525fw90necxmadrvjg0sdy6qsncyhyu) / [Archive](https://archive.is/AQNsV#selection-171.0-171.165)
[**GitHub Repo**](https://github.com/damus-io/notedeck/releases)
[Website](https://damus.io/notedeck/)


tags: Samourai Dojo is an end-to-end bitcoin wallet backing server for powering Samourai Wallet and other light clients.

content:
*   This version introduces the [Soroban](https://www.nobsbitcoin.com/whirlpool-dencetralization-stage-1/) P2P network, enabling Dojo to relay transactions to the Bitcoin network and share others' transactions to break the heuristic linking relaying nodes to transaction creators.

[![Samourai Dojo v1.27.0: Soroban Network, PandoTx, API Key Management](https://www.nobsbitcoin.com/content/images/2025/05/image-13.png)](https://xcancel.com/PavelTheCoder/status/1925673526255665415)

*   Additionally, Dojo admins can now manage API keys in DMT with labels, status, and expiration, ideal for community Dojo providers like [Dojobay](https://dojobay.pw/). New API endpoints, including "/services" exposing Explorer, Soroban, and Indexer, have been added to aid wallet developers.
*   Other maintenance updates include Bitcoin Core, Tor, Fulcrum, Node.js, plus an updated ban-knots script to disconnect inbound Knots nodes.

> "I want to thank all the contributors. This again shows the power of true Free Software. I also want to thank everyone who donated to help Dojo development going. I truly appreciate it," [said](https://xcancel.com/PavelTheCoder/status/1925609421746389035) Still Dojo Coder.

What's new
----------

*   **Soroban P2P network.** For MyDojo (Docker setup) users, Soroban will be automatically installed as part of their Dojo. This integration allows Dojo to utilize the Soroban P2P network for various upcoming features and applications.
*   **PandoTx.** PandoTx serves as a transaction transport layer. When your wallet sends a transaction to Dojo, it is relayed to a random Soroban node, which then forwards it to the Bitcoin network. It also enables your Soroban node to receive and relay transactions from others to the Bitcoin network and is designed to disrupt the assumption that a node relaying a transaction is closely linked to the person who initiated it.
    *   Pushing transactions through Soroban can be deactivated by setting `NODE_PANDOTX_PUSH=off` in `docker-node.conf`.
    *   Processing incoming transactions from Soroban network can be deactivated by setting `NODE_PANDOTX_PROCESS=off` in `docker-node.conf`.
*   **API key management** has been introduced to address the growing number of people offering their Dojos to the community. Dojo admins can now access a new API management tab in their DMT, where they can create unlimited API keys, assign labels for easy identification, and set expiration dates for each key. This allows admins to avoid sharing their main API key and instead distribute specific keys to selected parties.
*   **New API endpoints.** Several new API endpoints have been added to help API consumers develop features on Dojo more efficiently:
    *   New:
        *   `/latest-block` - returns data about latest block
        *   `/txout/:txid/:index` - returns unspent output data
        *   `/support/services` - returns info about services that Dojo exposes
    *   Updated:
        *   `/tx/:txid` - endpoint has been updated to return raw transaction with parameter `?rawHex=1`
    *   The new `/support/services` endpoint replaces the deprecated `explorer` field in the Dojo pairing payload. Although still present, API consumers should use this endpoint for explorer and other pairing data.

### Other changes

*   Updated ban script to disconnect inbound Knots nodes.
*   Updated Fulcrum to v1.12.0.
*   Regenerate Fulcrum certificate if expired.
*   Check if transaction already exists in pushTx.
*   Bump BTC-RPC Explorer.
*   Bump Tor to v0.4.8.16, bump Snowflake.
*   Updated Bitcoin Core to v29.0.
*   Removed unnecessary middleware.
*   Fixed DB update mechanism, added api\_keys table.
*   Add an option to use blocksdir config for bitcoin blocks directory.
*   Removed deprecated configuration.
*   Updated Node.js dependencies.
*   Reconfigured container dependencies.
*   Fix Snowflake git URL.
*   Fix log path for testnet4.
*   Use prebuilt addrindexrs binaries.
*   Add instructions to migrate blockchain/fulcrum.
*   Added pull policies.

![Samourai Dojo v1.27.0: Soroban Network, PandoTx, API Key Management](https://www.nobsbitcoin.com/content/images/2025/05/image-14.png)

[#FREESAMOURAI](https://freesamourai.com/)

![Samourai Dojo v1.27.0: Soroban Network, PandoTx, API Key Management](https://www.nobsbitcoin.com/content/images/2025/05/dojo-v127.jpg)

Learn how to set up and use your own Bitcoin privacy node with Dojo [here](https://www.youtube.com/watch?v=ULZoPMCYPfk).

[**Announcement**](https://xcancel.com/PavelTheCoder/status/1925609410757378206) / [Archive](http://archive.today/xT2sG)
[**GitHub Repo**](https://github.com/Dojo-Open-Source-Project/samourai-dojo/releases/tag/v1.27.0)


tags: Wasabi Wallet is a free and open-source, privacy-focused Bitcoin wallet for desktop.

content:
[Contribute to keep No Bullshit Bitcoin news going.](https://geyser.fund/project/nobsbitcoin)

*   Wasabi Wallet v2.6.0 "Prometheus" is a major update for the project, focused on resilience and independence from centralized systems.
*   Key features include support for [BIP 158](https://github.com/bitcoin/bips/blob/master/bip-0158.mediawiki) block filters for direct node synchronization, a revamped full node integration for easier setup without third-party reliance, SLIP 39 share backups for flexible wallet recovery (sponsored by Trezor), and a Nostr-based update manager for censorship-resistant updates.
*   Additional improvements include UI bug fixes, a new fallback for transaction broadcasting, updated code signing, stricter JSON serialization, and options to avoid third-party rate providers, alongside various under-the-hood enhancements.

> This new version brings us closer to our ultimate goal: ensuring Wasabi is future-proof," said the developers, while also highlighting the following key areas of focus for the project:

*   Ensuring users can always fully and securely use their client.
*   Making contribution and forks easy through a codebase of the highest quality possible: understandable, maintainable, and improvable.

> "As we achieve our survival goals, expect more cutting-edge improvements in Bitcoin privacy and self-custody. Thank you for the trust you place in us by using Wasabi," was stated in the release notes.

[![Wasabi Wallet v2.6.0: First Version to Sync & Operate Without a Central Server](https://www.nobsbitcoin.com/content/images/2025/05/image-1.png)](https://njump.me/nevent1qqsqqq8urpkd9t44fken7r6wfhjf4n9z9sp8nhy9gq04cgu00fd9ppszyz0rp62qywxdn6ltccegzakaf5gfsysjj3p09fkrsunlceh6065s5ytnjlx)

What's new
----------

*   **Support for Standard BIP 158 Block Filters.** Wasabi now syncs using [BIP 158](https://github.com/bitcoin/bips/blob/master/bip-0158.mediawiki) filters without a backend/indexer, connecting directly to a user's node. This boosts sync speed, resilience, and allows full sovereignty without specific server dependency.
*   **Full Node Integration Rework.** The old integration has been replaced with a simpler, more adaptable system. It’s not tied to a specific Bitcoin node fork, doesn’t need the node on the same machine as Wasabi, and requires no changes to the node’s setup.
    *   "Simply enable the RPC server on your node and point Wasabi to it," said the developers. This ensures all Bitcoin network activities—like retrieving blocks, fee estimations, block filters, and transaction broadcasting—go through your own node, avoiding reliance on third parties.
*   **Create & Recover SLIP 39 Shares.** Users now create and recover wallets with multiple share backups using [SLIP 39](https://github.com/satoshilabs/slips/blob/master/slip-0039.md) standard.

> "Special thanks to Trezor (SatoshiLabs) for sponsoring this amazing feature."

*   **Nostr Update Manager.** This version implements a pioneering system with the Nostr protocol for update information and downloads, replacing reliance on GitHub. This enhances the project's resilience, ensuring updates even if GitHub is unavailable, while still verifying updates with the project's secure certificate.
*   **Updated Avalonia to v11.2.7**, fixes for UI bugs (including restoring Minimize on macOS Sequoia).
*   Added a **configurable third-party fallback for broadcasting transactions** if other methods fail.
*   Replaced Windows Code Signing Certificate with Azure Trusted Signing.
*   Many bug fixes, improved codebase, and enhanced CI pipeline.
*   Added the option to avoid using any third-party Exchange Rate and Fee Rate providers (Wasabi can work without them).
*   Rebuilt all JSON Serialization mechanisms avoiding default .NET converters. Serialization is now stricter.

![Wasabi Wallet v2.6.0: First Version to Sync & Operate Without a Central Server](https://www.nobsbitcoin.com/content/images/2025/05/wasabi260.jpg)

**Full Changelog**: [v2.5.1...v2.6.0](https://github.com/WalletWasabi/WalletWasabi/compare/v2.5.1...v2.6.0)

[**Announcement**](https://njump.me/nevent1qqsp8cvfcz9788lmhad6ckvqg52r9z8fsl9dk3tcx3exjucv5qlc8vgpp4mhxue69uhkummn9ekx7mqzyzfm6rr08n96u3ec3vq6cm8qktqpxy2defxq34hzwyk5lac5qk3uxxetx9p) / [Archive](https://archive.is/V0VR4)
[**GitHub Repo**](https://github.com/WalletWasabi/WalletWasabi/releases/tag/v2.6.0)