Quick Summary: OP_NET is launching a DeFi platform built on native Bitcoin transactions, using only BTC as a fee asset and avoiding bridges or wrapped tokens. OP_NET is launching a decentralized finance stack it calls SlowFi, designed to run entirely on Bitcoin’s base layer using standard transactions and native BTC fees. The project avoids bridges, wrapped assets, and separate gas tokens, according to co-founder Frederic Fosco, who goes by Danny Plainview.Fosco says applications run through Taproot-based transactions, while the platform’s NativeSwap model supports token swaps without additional assets. Swap costs are estimated at $1 to $2 under normal conditions and…
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Quick Summary: Long-term Bitcoin holders transferred over $117 million to exchanges as Middle East conflict disrupted Gulf energy infrastructure and pushed BTC down 5%. Two long-term Bitcoin holders moved significant funds to exchanges on Wednesday as escalating conflict in the Middle East rattled energy markets. A wallet identified as bc1ql sent 1,000 BTC, worth roughly $71 million, to Binance, according to blockchain data platform Arkham. The wallet originally acquired 5,000 BTC thirteen years ago.On the same day, early Bitcoin holder Owen Gunden transferred 650 BTC, valued at approximately $46 million, to exchange Kraken, his first major sale in five months,…
Quick Summary: The ECB is recruiting technical experts for two workstreams focused on integrating a digital euro with ATMs, payment terminals, and certification frameworks. The European Central Bank has opened applications for industry specialists to join two workstreams under its Rulebook Development Group, targeting the technical integration of a potential digital euro into existing payment infrastructure. The initiative covers ATM and terminal implementation as well as certification and approval processes for payment solutions.One workstream will address communication technologies, offline functionality, and compatibility with existing European payment standards. The second will develop testing and certification frameworks for payment service providers operating…
Quick Summary: The FTX Recovery Trust announces a $2.2 billion creditor distribution on March 31, 2026, bringing total payouts to roughly $10 billion. The FTX Recovery Trust announced Wednesday that it will distribute $2.2 billion to creditors on March 31, 2026. Eligible recipients will receive funds through their chosen distribution provider within one to three business days. A fifth payment round is scheduled for May 29, 2026.The fourth distribution includes an 18% payout for Dotcom Customer claims, a 5% distribution for US Customer Entitlement Claims, and a 15% distribution for both General Unsecured Claims and Digital Asset Loan Claims. Convenience…
Quick Summary: SEC Chair Paul Atkins says NFTs and digital collectibles are typically not securities, as they represent one-time purchases rather than investment contracts. SEC Chair Paul Atkins has clarified why nonfungible tokens generally do not qualify as securities, following the agency’s release of an interpretive framework identifying four categories of digital assets outside securities law. Speaking in a CNBC interview, Atkins listed digital commodities, digital tools, digital collectibles including NFTs, and stablecoins as assets typically excluded from that definition.Atkins described digital collectibles as items that are bought and held, much like physical collectibles, rather than functioning as investment contracts…
Quick Summary: Kalshi CEO Tarek Mansour disputes Arizona criminal charges over alleged illegal gambling, arguing federal regulators hold exclusive oversight of the platform. Kalshi co-founder and CEO Tarek Mansour has rejected criminal charges filed by Arizona authorities, calling them a “total overstep” and vowing to contest them in court. Arizona Attorney General Kris Mayes announced the charges on Tuesday, alleging Kalshi operated an illegal gambling business without a license and offered unlawful election wagering.Mansour accused Mayes of attempting to “subvert the judicial process” by filing charges ahead of a court decision in Kalshi’s own lawsuit against Arizona authorities. The company…
Quick Summary: The FOMC votes to keep the Federal Funds rate at 3.5–3.75% as Middle East conflict clouds the economic outlook. The Federal Open Market Committee voted on Wednesday to maintain the Federal Funds rate at its current range of 3.5–3.75%. Federal Reserve Chairman Jerome Powell cited solid economic expansion and resilient consumer spending, but noted weakness in housing and softening in the labor market.Powell acknowledged that inflation remains somewhat elevated above the Fed’s 2% target, creating tension between its dual mandate of maximizing employment and stabilizing prices. He added that the ongoing conflict in the Middle East has further…
Quick Summary: Bitcoin services firm Fold posted $9M in Q4 revenue but recorded a $69.6M full-year net loss and cut its Bitcoin treasury nearly in half. Fold, a Bitcoin financial services company, reported an 8% rise in Q4 revenue to $9 million, adding roughly 2,000 new customers during the period. The firm recently launched a Fold Bitcoin Rewards Credit Card, a product powered by Visa and Stripe that offers cashback and Bitcoin rewards.CEO Will Reeves said during the Q4 and full-year 2025 earnings call that Bitcoin rewards could eventually surpass airline miles as the top consumer reward in the US.…
Quick Summary: The Algorand Foundation has reduced its workforce by 25%, citing crypto market weakness and global macroeconomic uncertainty. The Algorand Foundation, the organization supporting the Algorand layer-1 blockchain, has announced a 25% reduction in its workforce. The foundation described the move as a difficult response to ongoing uncertainty in global markets and a broader decline in crypto asset values.In a statement, the foundation said it now has a more sustainable alignment of resources with its long-term technology and ecosystem priorities. It pledged to support affected staff through the transition, calling them best-in-class contributors.The cuts arrive as the foundation prepares…
Quick Summary: A California court dismissed Roger Metz’s petition to block an IRS summons for his Coinbase records, citing failure to notify the US Attorney General within 90 days. Roger Metz filed a petition in the Northern District of California in May 2025 seeking to quash an IRS summons directing Coinbase to hand over his financial records related to a 2022 federal tax audit. His attorneys argued the summons was overbroad, violated his privacy rights, and failed to meet administrative requirements. They also noted Metz had already filed an amended return and paid the outstanding tax before the summons was…
