Lava's weekly bitcoin-backed loan volume has doubled over the last 2 weeks. We're seeing this largely driven by increased confidence in bitcoin.

Bitcoin on a balance sheet is one use. Bitcoin as rails is the other. Each set of Bitcoins can carry its own spending policy, enabling fully programmable digital money. @Tierotiero and @Tychoonnasch dive deeper on 21On.

Announcing Stacks. Organize your savings on @Strike. 🗂️ Organize your bitcoin into distinct Stacks 🔁 Set up separate no-fee DCAs for each ↔️ Move bitcoin between Stacks Available everywhere @Strike is, for personal and business accounts 🫡

Not super deep on MSTR but here’s a (maybe not so) crazy idea. MSTR needs help with its cap structure. Let’s do a thought experiment to solve paying the yield on its preferred STRC. MSTR holds about 847k BTC valued roughly at $50B at today’s price of $60k. If they keep that all in cold storage, use the new BTC yield protocol with Stacks (STX) to generate BTC yield while keeping their BTC in cold storage, they would have to buy 5% of their BTC holdings ($2.5B) of STX and then would be generating about 3% yield in BTC terms annually on a go forward basis. This is roughly $1.5B annually - again using today’s prices - which starts to close the gap big time on what is required for STRC dividend yield. Everyone is (admittedly) upset that Saylor has now chosen to sell BTC. What if you only sell the rewards programmatically and not the core stack - making BTC a productive asset. BTC yield at 3% annually is roughly $1-3B annually being generous with price fluctuations based on the last 12 months ($50-120k USD) This can start to cover off the preferred dividends through yield and as the BTC holdings grow, the excess (create a transparent framework!) can be added to the total BTC holdings - thus sticking with the original thesis of growing the BTC stack. Problems with this: STX is only a $300mm market cap. The buy demand far outweighs the supply for this to work. I’m sure they could get creative though if the mechanics of the protocol works. Maybe do a large token issuance done like a PIPE? This also forces more transparency of holdings as you time lock the BTC on L1 and time lock the STX, but this shouldn’t be an issue if the BTC is all there. The real promise of DATs should be that they are more productive versions of holding spot. That only really works if there are ways to generate revenue above and beyond spot price appreciation. Selling a NAV premium only works if the underlying asset held is extremely scarce and hard to obtain. Just a random thought exercise. NFA/ DYOR. Disclosure: long STX and long a tiny bit of MSTR for a trade.

Safe stablecoins — is the yield any good? Everyone knows $BOLD is among the safest stablecoins. But does that compromise the yield? Why, no! Among the top 10 safest stablecoins, BOLD offers clearlythe best yield. Stay safe. Earn well. app.lqty.io/earn/

Revolut, a leading fintech with 80 million customers globally, is launching a Euro stablecoin on Ethereum. Welcome to @Ethereum, EURR.

The Avici & co. hack shows why I only top up cards with what I intend to spend soon. As much as I’d love to dump my core tokens into EtherFi and borrow against them, I never will.

Re today's Liquid incident: the ~4,000 BTC peg-out went through SideSwap's peg-out service on a customer order. As @Liquid_BTC confirmed, our PAK was not compromised. The L-BTC came from an Elements bug, not from any SideSwap system. Peg-in/out paused while Liquid is. Updates here.

Sam Altman: "Much, much, much more capable models coming soon." "The next generation of models are going to be sobering for everybody." "The weight of responsibility in front of us."