Bitcoin Magazine

Human Rights Foundation Grants 1 Billion Satoshis to 20 Freedom Tech Projects Worldwide

The Human Rights Foundation (HRF) has announced a new wave of funding through its Bitcoin Development Fund (BDF), distributing 1 billion satoshis — approximately $1.1 million USD — to 20 projects around the world. 

The grants, awarded to developers, educators, and activists spanning Asia, Africa, Latin America, and Europe, aim to strengthen Bitcoin’s role as a tool for human freedom and resistance to financial repression.

HRF has a mission to empower people living under authoritarian regimes through open-source technologies that enable private communication, censorship-resistant finance, and decentralized coordination. 

Since launching the Bitcoin Development Fund in 2020, HRF has provided more than $9.6 million in Bitcoin to 319 projects across 62 countries. 

The foundation’s approach merges human rights advocacy with technical development, supporting builders who are creating practical tools for dissidents, journalists, and ordinary citizens in repressive environments.

“Bitcoin is more than just a monetary innovation,” HRF said in a statement. “It’s a survival mechanism for billions of people living without political or economic freedom.”

This round of grants supports projects advancing everything from core Bitcoin development and mining decentralization to regional education and financial autonomy programs. Each reflects a piece of a larger puzzle: a global freedom technology ecosystem built on Bitcoin’s permissionless infrastructure.

Human Rights Foundation Grant Recipients

Nymius: Bitcoin’s transparent ledger is essential to its design, but it also exposes dissidents to surveillance from authoritarian states seeking to monitor transactions and networks. Silent Payments enables individuals to receive Bitcoin through unique, one-time addresses derived from a static public key, but its effectiveness depends on wallet adoption. Nymius, a Bitcoin Dev Kit (BDK) contributor, will integrate Silent Payments into the BDK. With this grant, dozens of wallets and applications built with the BDK will be able to offer users greater financial privacy.

Daniela Brozzoni: Bitcoin nodes (computers running the Bitcoin software) reveal user metadata when connecting with one another. This opens the door for regimes or hackers to track or isolate activists and dissidents running Bitcoin nodes. Daniela Brozzoni is a Bitcoin Core developer who has been researching this vulnerability and publishing mitigation proposals to counter the tactics. With this grant, she will gather community feedback and implement fixes to make the network safer.

Build on Bitcoin (BOB) Buidlers Residency: Every day, users often find freedom technologies difficult to use, which limits their accessibility and impact. BOB Buidlers Residency in Bangkok has supported three cohorts of free and open-source developers to advance Bitcoin’s privacy, decentralization, and mining. With HRF’s funding, a fourth cohort of four developers will improve usability across Bitcoin, Lightning, nostr, and ecash, making freedom tech more accessible to those who need it most.

2140 Foundation (Stichting 2140): Bitcoin developers, especially those in autocratic countries, often struggle with burnout, isolation, and a lack of incentives to complete long-term projects. The 2140 Foundation, founded by open-source developers Josie Baker and Ruben Somsen, is a co-working space in Amsterdam that provides mentorship, collaboration, and employment to global contributors advancing Bitcoin’s long-term security, resilience, and scalability. With HRF funding, the foundation will support the work of  developers from authoritarian states to strengthen Bitcoin as a human rights tool.

Cashu for Community Sovereignty: In many parts of Latin America, governments restrict financial flows by blocking payments, freezing accounts, and, at times, disrupting internet access. Cashu for Community Sovereignty, founded by Forte11, addresses this with ecash, which enables quick and private payments that even work offline. The initiative will train 10 communities in authoritarian environments to deploy Cashu mints and Lightning Network nodes. With this funding, communities facing repression will develop a stronger infrastructure for financial freedom.

Bhartiya Bitcoin: As India advances a central bank digital currency (CBDC) and financially represses political opposition, Bitcoin offers a path to financial freedom. However, education is often inaccessible to non-English speakers. Bhartiya Bitcoin produces free, culturally relevant Bitcoin content in Hindi, Marwari, Sindhi, and Assamese. With HRF support, Bhartiya Bitcoin will expand into Marathi, Bengali, Gujarati, Kannada, and Malayalam to make Bitcoin more accessible to the more than 1.4 billion people living under increasingly autocratic rule in India.

Bitcoin Education for Lebanon’s Liberty & Empowerment (BELLE): In Lebanon, a collapsing currency, banking restrictions, and asset confiscations have stripped people of financial stability. The Lebanese Institute for Market Studies is launching BELLE, a project to teach political activists and youth to use Bitcoin to preserve their purchasing power. With HRF support, BELLE will provide Arabic-language workshops, educational videos, and media outreach to strengthen individuals’ ability to resist financial repression and secure their financial futures.

Bitcoin Arusha: Tanzania’s government restricts the use of foreign currency and limits dissidents’ banking access, while the local currency depreciates, leaving many citizens trapped in a cycle of poverty. To alleviate this, Bitcoin Arusha provides culturally rooted, Swahili-language Bitcoin education in northern Tanzania through music, dance, and events. HRF support will strengthen Bitcoin Arusha’s resilience and empower communities through economic opportunities.

Bitcoin for Fairness: Human rights defenders and non-governmental organizations (NGOs) often lack the knowledge to use Bitcoin to bypass repressive financial restrictions. Bitcoin for Fairness (BFF) is an educational initiative that disseminates Bitcoin knowledge to the global majority. In 2026, BFF will focus its initiatives in Zimbabwe, Mozambique, and Zambia – countries scarred by currency crises and periods of one-party rule – and deliver workshops, micro-seed funding, mentorship, and educator training. With HRF funding, BFF will empower activists and civic organizations in Southern Africa with censorship-resistant, permissionless financial tools.

Exile Hub: Burma’s military junta uses financial repression, exile, and imprisonment to crush peaceful resistance. Exile Hub’s Bitcoin for Exiles initiative will pilot a Bitcoin-based financial autonomy program designed to meet the needs of Burma’s democratic movement. With HRF support, the program will offer training, privacy-focused toolkits, and workshops to equip dissidents within Burma and in exile with the tools to survive, organize, and resist the junta’s financial repression.

Alberto Gangarossa: Today, most Bitcoin mining hardware relies on closed-source software that can expose user data and create dependence on third parties. Pluto, built by developer Alberto “Derek” Gangarossa, is the first open-source mining fleet management platform that gives miners control over their operations without third-party dependence. With HRF support, Pluto will empower individuals in repressive environments to mine Bitcoin privately, independently, and securely, further decentralizing the Bitcoin network.

WantClue: Bitcoin mining is dominated by industrial operations that use proprietary hardware and software. Over time, this could put Bitcoin’s decentralization and accessibility at risk. Bitaxe counters this trend by providing an affordable and open-source miner for individuals. WantClue maintains the Bitaxe firmware and produces educational content that makes mining more accessible to dissidents and individuals in closed societies. With HRF support, WantClue will strengthen mining decentralization and expand access to self-sovereign financial infrastructure for those under repression.

Peter Tyonum: Developers in adverse political and economic environments need accessible and secure wallet software infrastructure to build freedom tools. Developer Peter Tyonum contributes to the BDK, which abstracts wallet software into usable plug-and-play components and makes it easier for developers to create censorship-resistant tools. With this grant, Tyonum will continue to help developers worldwide create accessible, permissionless Bitcoin applications.

BitScript: An inclusive developer base is essential to Bitcoin’s long-term decentralization. BitScript, a free, open-source Bitcoin developer education program, trains developers in authoritarian and inflationary environments across Latin America and Africa to build protocol-level freedom technologies. Global development helps ensure that Bitcoin serves as a lifeline for people facing repression. HRF’s grant will help BitScript democratize protocol knowledge to ensure the network reflects global needs.

Code Orange Dev School: Many regions lack the technical education to build, maintain, and use Bitcoin. To address this, the Code Orange Dev School in Indonesia teaches developers and individuals across Asia to contribute to open-source Bitcoin projects, run nodes, and use privacy-enhancing tools like ecash, fedimint, and nostr. HRF’s support will help equip communities with tools to resist authoritarianism.

Demo Lab: As authoritarian governments in Latin America tighten their grip on financial and political power, there is an urgent need for civic and financial education. Demo Lab’s Freedom Academy introduces Bitcoin as a tool for financial independence and teaches practical skills for saving and transacting securely. Through this grant, the Freedom Academy will prepare the next generation of Latin Americans to defend democracy and achieve economic sovereignty.

Nostr under Autocracy: In Venezuela, Nicolás Maduro’s brutal dictatorship restricts traditional communication channels, prevents journalists from exposing the regime’s brutality, and financially suppresses civil society. Nostr under Autocracy, led by democracy activist Jesús González, will train Venezuelan activists and human rights defenders to use the open-source nostr protocol for private, censorship-resistant communication and payments. With HRF support, this project will help Venezuelan dissidents speak freely online and build movements to resist Maduro’s digital and financial repression.

KernelKind: Dictators restrict communication, manipulate online content, and restrict dissidents’ financial access to silence dissent. Notedeck is a Nostr browser created by Damus that makes it easier to build censorship-resistant apps with integrated Bitcoin payments. Its first app, Columns, introduces modular feeds and a marketplace for user-controlled algorithms, while Dmail will enable private, decentralized messaging with email interoperability. With this grant, Notedeck will continue to merge censorship-resistant communication with financial freedom and foster an ecosystem of apps for dissident communications and transactions.

Eric Holguin: Many people living under authoritarian regimes face censorship, Internet shutdowns, and frozen bank accounts that cut them off from communication and commerce. Nostr developer Eric Holguin is working to build censorship-resistant apps with integrated Bitcoin payments by contributing to Damus and Nostr projects that empower individuals to communicate and transact without centralized control. With this grant, he will continue expanding free speech and financial freedom tools for people resisting repression worldwide.

Craig Warmke and Troy Cross: As authoritarian regimes expand financial surveillance and roll out central bank digital currencies (CBDCs), many people remain dangerously unaware of their risks to individual liberties. Transactional Freedom, a forthcoming book co-written by philosophers Craig Warmke and Troy Cross, makes the moral and legal case for recognizing a universal and constitutional right to transact. With HRF support, Warmke and Cross will examine financial repression in authoritarian regimes and its impact on human rights, activism, and financial freedom.

Together, these 20 grantees form a diverse coalition of builders, thinkers, and educators working to fortify Bitcoin’s role as a global freedom network. While their methods vary — from protocol research to street-level education — their shared mission is clear: to ensure that financial and informational freedom remain accessible to everyone, everywhere.

This post Human Rights Foundation Grants 1 Billion Satoshis to 20 Freedom Tech Projects Worldwide first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

Bitcoin Price Jumps to $115,000 As Analyst Says It May Never Fall Below $100K Again

Bitcoin price surged to $115,000 on Monday, rising more than 1% in 24 hours, as optimism over easing U.S.–China trade tensions and renewed investor appetite for risk assets lifted global markets. 

According to Geoffrey Kendrick, Head of Digital Asset Research at Standard Chartered Bank, Bitcoin price may “never fall below $100,000 again” if this week’s macro tailwinds continue.

In a note to clients, Kendrick said that improving trade relations between Washington and Beijing have flipped last week’s market fear into “hope.” 

U.S. Treasury Secretary Scott Bessent’s weekend statement that restrictions on China’s rare earth exports could be postponed for a year, combined with reports that Beijing plans to buy large quantities of U.S. soybeans, sparked a relief rally across equities, commodities, and crypto.

China, U.S trade deals and FOMC rate cuts

The agreement, expected to be finalized after the upcoming Trump–Xi summit in South Korea, has renewed risk appetite and pushed the bitcoin-to-gold ratio back above pre-October 10 levels — the date when 100% tariff threats sent markets tumbling.

Kendrick pointed to fresh inflows into spot bitcoin ETFs as another key signal of strength. Over $2 billion exited U.S. gold ETFs late last week, and if even half of that re-enters bitcoin funds, he said, it would mark a major vote of confidence. 

The analyst also highlighted macro tailwinds, including expectations for a 25-basis-point rate cut at Wednesday’s Federal Open Market Committee (FOMC) meeting — a move widely seen as bullish for bitcoin. 

Meanwhile, investors are watching a packed earnings calendar from both tech and crypto heavyweights. Microsoft, Meta, and Google are set to report on Wednesday, followed by Apple, Amazon, Coinbase, and Strategy (formerly MicroStrategy) later in the week.

“If this week goes well — bitcoin may never fall below $100,000 again,” Kendrick said.

Bitcoin price outlook

While bulls have made modest progress with Bitcoin, stronger resistance remains overhead at $117,600 and $122,000, leaving bears largely in control. 

If Bitcoin manages to surpass $122,000, professionals note the next target could be the upper boundary of a broadening wedge pattern at $128,000.

Support levels remain critical for maintaining bullish momentum. The key short-term support at $106,900 held throughout last week, helping stabilize the market. 

Falling below this level could open the path toward the $105,000–$102,000 support zone, which has already been tested twice, with a third test raising the likelihood of a breakdown. 

Beyond that, $96,000 represents a crucial long-term support level for the broader bull market, acting as a do-or-die floor if prices decline further.

As of press time, bitcoin was trading at $115,041, up 1.22% over the past 24 hours.

This post Bitcoin Price Jumps to $115,000 As Analyst Says It May Never Fall Below $100K Again first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

S&P Assigns ‘B-’ Rating to Strategy (MSTR), Citing Bitcoin Exposure and Liquidity Risk

S&P Global Ratings assigned a ‘B-’ issuer credit rating to bitcoin-juggernaut Strategy, reflecting the company’s heavy concentration in bitcoin and limited dollar liquidity. The outlook is stable.

S&P said the rating reflects Strategy’s “high bitcoin concentration, narrow business focus, weak risk-adjusted capitalization, and low U.S. dollar liquidity.” The company reported $8.1 billion in pre-tax earnings in the first half of 2025, almost entirely from appreciation in the value of its bitcoin holdings.

The firm said in their release that while Strategy’s balance sheet is dominated by bitcoin, its management has prudently staggered debt maturities and maintained flexibility by financing primarily with equity.

In other words, this rating means Strategy can meet debt obligations for now but faces significant default risk if market conditions worsen.

Strategy — now effectively a bitcoin treasury company — raises capital through equity and debt issuances to purchase and hold bitcoin. Its securities give investors varying exposure to bitcoin across its capital structure. 

Just today, founder and former CEO Michael Saylor announced a purchase of 390 BTC between October 20 and October 26, spending approximately $43.4 million at an average price of $111,053 per Bitcoin. The firm still operates a small AI-powered analytics business, though it remains roughly breakeven.

JUST IN: S&P Global Ratings has rated a #Bitcoin treasury company for the first time — Michael Saylor’s Strategy pic.twitter.com/oP4j5UIJlj

— Bitcoin Magazine (@BitcoinMagazine) October 27, 2025

A Strategy first

This S&P rating is the first-ever rating of a Bitcoin Treasury Company by a major credit rating agency.

According to S&P, Strategy’s risk-adjusted capital ratio was significantly negative as of June 30, 2025, because the agency deducts bitcoin assets from equity in its calculation. 

Strategy reported $8.1 billion in pre-tax earnings in the first half of 2025. Operating cash flow during the period was negative $37 million.

The agency cited several key risks, including a currency mismatch between Strategy’s bitcoin-denominated assets and dollar-denominated obligations such as interest, debt principal, and preferred dividends. 

S&P also pointed to cybersecurity risks given the company’s reliance on custodians to safeguard its bitcoin.

Strategy holds bitcoin valued at roughly $70 billion, against $8 billion in convertible debt, much of which matures beginning in 2028. Annual preferred dividends total about $640 million, which the company plans to fund through additional stock and preferred equity issuance.

While Strategy’s access to capital markets remains a core strength, S&P warned that a sharp decline in bitcoin prices or loss of investor confidence could impede its ability to refinance debt or pay dividends, potentially leading to bitcoin sales “at severely depressed prices.”

S&P said the rating could be downgraded if access to markets weakens or debt management risks rise. An upgrade is unlikely unless the company improves its U.S. dollar liquidity or reduces reliance on convertible debt.

Strategy’s trillion-dollar endgame

Earlier this year, Michael Saylor laid out an ambitious plan to reshape global finance through Bitcoin.

In an interview with Bitcoin Magazine, Saylor described an “endgame” in which Strategy accumulates a trillion-dollar bitcoin balance sheet, growing 20–30% annually, and uses it as the foundation for a new global credit system.

At the core of his vision is scale: with enough BTC on corporate balance sheets, the long-term appreciation of Bitcoin — historically around 21% annually — would supercharge the capital base.

On top of that, Saylor sees an opportunity to issue bitcoin-backed credit at yields significantly higher than traditional fiat-based debt, potentially two to four percentage points above corporate or sovereign rates.

He argued that over-collateralization could make this system safer than even AAA-rated debt, while simultaneously fueling broader financial growth.

Saylor’s vision extends beyond credit markets. As Bitcoin becomes embedded in corporations, banks, insurers, and sovereign wealth funds, public equity indexes could gradually become indirect bitcoin vehicles.

This, he says, would benefit equity markets and corporate balance sheets while introducing higher yields and greater transparency into financial products.

The implications are broad: savings accounts could yield 8–10% instead of near-zero, money market funds could be denominated in bitcoin, and insurance products could be reimagined around bitcoin collateral.

This post S&P Assigns ‘B-’ Rating to Strategy (MSTR), Citing Bitcoin Exposure and Liquidity Risk first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

IBM Launches “Digital Asset Haven” to Help Banks and Governments Enter into Crypto 

IBM announced a platform designed to help financial institutions, governments, and large corporations securely manage their crypto and blockchain-based assets, like bitcoin. 

The platform, developed in collaboration with crypto wallet provider Dfns, combines IBM’s infrastructure and security expertise with Dfns’ institutional-grade custody and wallet technology.

At its core, Digital Asset Haven wants to simplify what has long been a tricky and complex landscape for institutions. 

Many banks and governments have been cautious about crypto because it involves multiple blockchains, regulatory hurdles, and security risks. IBM’s platform wants to change this and consolidate these moving parts, offering a single solution.

The partnership with Dfns is central to the platform. Dfns has built more than 15 million wallets for over 250 clients, focusing on secure and compliant operations. 

By combining this with IBM’s high-assurance infrastructure, Digital Asset Haven is meant to provide institutions with the same reliability and governance standards that traditional financial systems offer. 

That includes multi-party approvals, policy-driven governance, and support for cold storage, where crypto keys are kept offline for maximum security.

IBM’s support for 40 blockchains

The platform also supports more than 40 blockchains, both public and private, giving institutions flexibility to engage with a wide range of digital assets, from traditional cryptocurrencies to emerging stablecoins and tokenized assets.

It integrates third-party services for identity verification, anti-money laundering checks, and yield generation, and offers developer-friendly APIs to enable further customization and innovation.

“This is more than custody,” said Clarisse Hagège, CEO of Dfns. “We’ve built a platform that orchestrates the full digital asset ecosystem, moving digital assets from pilot programs to production at a global scale.” 

Tom McPherson, General Manager of IBM Z and LinuxONE, emphasized that the platform brings IBM’s signature resilience and data governance to the emerging digital asset space, helping institutions explore new products without compromising on security or compliance.

The launch comes at a time when regulated digital assets are gaining momentum. 

Stablecoins, for example, have become increasingly used in payments following the U.S. adoption of legislation earlier this year, and major banks are exploring blockchain-based money transfers. 

This post IBM Launches “Digital Asset Haven” to Help Banks and Governments Enter into Crypto  first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

One Bitcoin a Day: Prenetics Raises $48M to Accelerate Bitcoin Treasury Strategy

Does one bitcoin a day keep the doctor away?

Prenetics Global Limited (NASDAQ: PRE), a Hong Kong-based health sciences company, announced today the successful pricing of a public equity offering expected to generate approximately $48 million in gross proceeds, with the potential to raise up to $216 million if all accompanying warrants are exercised. 

The capital raise is intended to support the expansion of its supplement brand, IM8, while bolstering Prenetics’ Bitcoin treasury strategy.

The company has a disciplined Bitcoin accumulation plan, purchasing one bitcoin per day since August 1, 2025, and currently holds approximately 275 BTC, valued at $31 million as of October 27.

Prenetics said the offering attracted a distinguished group of institutional and individual investors, including major crypto platforms and financial firms such as Kraken, Exodus (NYSE: EXOD), GPTX by Bitcoin mining pioneer Jihan Wu, American Ventures LLC, XtalPi (2228.HK), DL Holdings (1709.HK), and Mythos Group, among others.

The offering, led by sole placement agent Dominari Securities LLC, consists of 2,992,596 Class A ordinary shares and/or pre-funded warrants, along with Class A and Class B warrants exercisable for up to 5,985,192 additional shares. 

The Class A warrants carry an exercise price of $24.12 — 50% above the offering price of $16.08 — while the Class B warrants are exercisable at $32.16, or a 100% premium. Both warrants are immediately exercisable upon issuance and have five-year terms.

High-profile strategic investors like Aryna Sabalenka, the world No. 1 tennis player, and Adrian Cheng, a prominent Asian entrepreneur, also increased their stakes in the company. David Beckham is also a prominent backer.

Prenetics’ supplement brand IM8 hit $100 million ARR in 11 months and aims for $180–$200 million in 2026 within the $704 billion global market, the company said. 

CEO Danny Yeung highlighted the company’s dual focus on health supplements and cryptocurrency. 

“IM8 has huge global potential, evidenced already by our extraordinary traction across multiple markets. We’re particularly honored to have the backing of a distinguished group of new and existing strategic investors who share our confidence in our dual-engine strategy,” Yeung said. 

Bitcoin accumulation: One bitcoin per day

As mentioned earlier, Prenetics has a Bitcoin accumulation plan, purchasing one bitcoin per day since August 1, 2025, and currently holds approximately 275 BTC, valued at $31 million as of October 27.

Financially, Prenetics will hold roughly $100 million in cash post-offering, bringing its total liquidity — including Bitcoin holdings — to around $131 million. 

The company also plans to review and divest non-core business units to focus resources on IM8 and Bitcoin initiatives.

The offering is expected to close on or around October 28, 2025, pending customary conditions. Prenetics positions itself as pursuing a bold long-term ambition: to reach $1 billion in annual revenue alongside $1 billion in Bitcoin holdings within the next five years, combining health supplement growth with cryptocurrency accumulation as a cornerstone of its corporate strategy.

IM8’s operational performance underscores the brand’s subscription-driven growth model, with more than 12 million servings shipped to over 420,000 customer orders across 31 countries. 

Average order values have risen from $110 to $145 following the launch of IM8’s Daily Ultimate Longevity product, reflecting strong consumer demand for premium offerings.

This post One Bitcoin a Day: Prenetics Raises $48M to Accelerate Bitcoin Treasury Strategy first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

Trump-Backed American Bitcoin Adds 1,414 Bitcoin Amid U.S. Expansion

American Bitcoin Corp. (Nasdaq: ABTC), a Trump family–backed mining platform, has expanded its Bitcoin holdings to 3,865 bitcoin, adding 1,414 bitcoin since September through a combination of mining production and secondary market purchases.

The Miami-based firm, which describes itself as “America’s Bitcoin infrastructure backbone,” said the latest accumulation includes coins held in custody and those pledged for miner purchases under its ongoing procurement deal with Bitmain. 

The update continues a rapid expansion trajectory that began earlier this year when Hut 8 spun out its U.S. mining arm as a separate, publicly traded entity.

American Bitcoin initially held around 500 BTC at the time of the carve-out, then purchased another 1,726 BTC between July and August for approximately $205 million. 

Those holdings were pledged to Bitmain as collateral for a $314 million order of 16,299 Antminer U3S21EXPH units — nearly the full 15 EH/s option under the companies’ strategic supply agreement. Most of those machines will be hosted at Hut 8’s new Vega site in Texas, a 400-megawatt facility central to American Bitcoin’s push toward 25 EH/s of proprietary hashrate.

“We believe one of the most important measures of success for a Bitcoin accumulation platform is how much Bitcoin backs each share,” said Eric Trump, co-founder and chief strategy officer. “As part of that conviction, we are focused on providing transparent updates as we aim to increase our holdings.”

JUST IN: Trump Family-backed BTC miner American Bitcoin acquires 1,414 Bitcoin.

They now hold 3,865 Bitcoin pic.twitter.com/21dgPKboOG

— Bitcoin Magazine (@BitcoinMagazine) October 27, 2025

Executive Chairman Asher Genoot added that American Bitcoin’s integrated mining model allows it to lower its average cost per Bitcoin compared with treasury-style vehicles that buy on the open market. 

“That structural advantage allows us to compound Bitcoin value per share more efficiently for our investors,” he said.

Shares of ABTC have been volatile since their September debut, rising 11% on Friday to close at $5.62 after recovering from midweek lows below $5. 

The company, valued around $5.1 billion, remains one of the most closely watched plays in the sector — both for its aggressive expansion plans and its deep ties to the Trump family.

At the time of writing, the stock is trading at $5.83 and Bitcoin is trading at $115,000 after a couple of tumultuous weeks.  

Gryphon, American Bitcoin merger

Earlier this year, Gryphon Digital Mining merged with American Bitcoin Corp., the Trump family–backed subsidiary of Hut 8, to form what they claim could become the most efficient pure-play Bitcoin miner in the industry. 

The all-stock merger saw Gryphon shareholders own about 2% of the combined entity and American Bitcoin stakeholders hold 98%.

The merger, now finalized, provides American Bitcoin with a faster route to public markets and combines Gryphon’s mining technology with American Bitcoin’s capital strength and large-scale reserve strategy.

This post Trump-Backed American Bitcoin Adds 1,414 Bitcoin Amid U.S. Expansion first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

Trump Picks SEC Crypto Counsel Michael Selig to Lead CFTC

President Donald Trump has selected Michael Selig, chief counsel for the Securities and Exchange Commission’s crypto task force, to chair the Commodity Futures Trading Commission (CFTC).

Selig’s nomination, first reported by Bloomberg, marks Trump’s second attempt to fill the CFTC’s top post, following the stalled nomination of Brian Quintenz, a16z crypto’s global policy chief, amid opposition from Gemini co-founder Tyler Winklevoss. 

Selig, who serves as an aide to SEC Chairman Paul Atkins, has been instrumental in coordinating regulatory approaches between the SEC and CFTC on financial and crypto market oversight.

The CFTC, which regulates futures, swaps, and prediction markets, is gaining greater prominence as Congress considers new crypto market structure legislation. 

Before joining the SEC, he was a partner at Willkie Farr & Gallagher, specializing in asset management.

Selig’s appointment will require Senate confirmation.

JUST IN: President Trump selects Michael Selig as CFTC chair amid crypto growth. pic.twitter.com/VeFZITp8U6

— Bitcoin Magazine (@BitcoinMagazine) October 24, 2025

President Trump’s growing support for crypto

President Donald Trump also recently granted a full pardon to Binance founder Changpeng Zhao, calling his prosecution part of the prior administration’s “war on cryptocurrency.” 

The move, confirmed by the White House, clears Zhao’s record and echoes a major shift in the government’s approach to the crypto industry.

Selig’s appointment comes as momentum behind U.S. crypto legislation accelerated this week as Coinbase CEO Brian Armstrong said the industry was “90%” of the way toward securing passage of the Digital Asset Market Clarity Act, or CLARITY Act. 

Despite a partial government shutdown, lawmakers from both parties reportedly made major progress on the long-awaited market structure bill.

Armstrong met with senators from both parties, including Majority Leader Chuck Schumer, Sens. Kirsten Gillibrand, Cynthia Lummis, and Tim Scott, describing the discussions as “very productive.” 

The bill, which passed the House in July with a bipartisan 294–137 vote, aimed to clarify which digital assets fall under the SEC versus the CFTC, while providing rules for decentralized finance (DeFi), stablecoins, and custody services.

The final sticking points centered on how to regulate DeFi and whether consumers could earn rewards on stablecoins. Crypto advocates urged lawmakers to target regulation at intermediaries rather than open-source code and warned that the banking lobby sought to limit yield on stablecoin holdings.

Despite procedural delays from the shutdown, optimism remained high. Lummis said she expected the bill to reach President Trump’s desk before year-end, calling it the most significant bipartisan step toward U.S. crypto clarity to date.

This post Trump Picks SEC Crypto Counsel Michael Selig to Lead CFTC first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

Swiss Bitcoin-Only App Relai Secures MiCA License in France

Swiss Bitcoin app Relai has become one of the first Bitcoin-only companies to receive regulatory approval under Europe’s landmark Markets in Crypto-Assets (MiCA) framework. 

The Zurich-based firm announced today that it has been granted authorization as a Crypto-Asset Service Provider (CASP) by France’s Financial Markets Authority (AMF), according to a note shared with Bitcoin Magazine.

The approval marks a significant moment not just for Relai, but for the broader Bitcoin ecosystem in Europe. The MiCA regulation, which came into effect earlier this year, establishes uniform rules for crypto companies across the EU, aiming to increase investor protection and reduce regulatory fragmentation between member states. 

While large exchanges like Binance and Coinbase are still navigating the complex licensing process, Relai’s early authorization gives it a head start as one of the first Bitcoin-only firms to achieve compliance.

“We’re incredibly proud to be one of the first Bitcoin companies to get the MiCA license and are eager to expand to France first — and Europe in a second step,” said Julian Liniger, co-founder and CEO of Relai. “This is a big moment for Bitcoin adoption on the continent.”

Relai is expanding a bitcoin-only vision across Europe

Founded in Zurich in 2020, Relai has grown despite a rough regulatory environment for digital assets.

The company closed a Series A funding round last year and surpassed 500,000 app downloads, establishing itself as a user-friendly gateway for European retail investors seeking exposure to Bitcoin without intermediaries.

With the MiCA license secured, Relai can now “passport” its services across the EU — meaning it can operate in all 27 member states once formal notification procedures are complete. 

The company plans to introduce a suite of new features tailored to European users, including Instant SEPA payments, higher trading limits, fixed-price transparency, and enhanced security standards.

Relai also intends to invest in education and community-building, launching localized learning resources and sponsoring Bitcoin events across Europe. 

“Our goal is clear: bringing Bitcoin to as many people as possible — simple, secure, and regulated,” said Adem Bilican, co-founder and president of Relai EU.

The company is also strengthening its governance with a newly appointed advisory board, featuring industry veterans Jean Guillaume, Daniel Astraud, and Herve de Kerdrel, who will provide guidance on regulatory compliance and strategic growth. 

Relai plans to leverage its MiCA approval to expand across Europe, with marketing campaigns and app updates scheduled for 2026.

Yesterday, Blockchain.com announced it received a MiCA license as well, granted by the Maltese Financial Services Authority (MFSA),

This post Swiss Bitcoin-Only App Relai Secures MiCA License in France first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

Bitcoin Price Jumps to $111,000 as Softer CPI Data Fuels Rate-Cut Bets

Bitcoin price surged past $111,000 today after new U.S. inflation data showed a milder-than-expected rise in consumer prices, strengthening expectations that the Federal Reserve will move ahead with additional rate cuts this year.

The Consumer Price Index (CPI) rose 0.3% month-over-month in September, below economists’ forecasts of 0.4%, while “core” CPI — excluding food and energy — rose just 0.2%, also softer than expected. 

On a year-over-year basis, both headline and core inflation registered 3.0%, slightly below estimates.

The release, delayed 10 days by the ongoing government shutdown, was one of the few major economic reports to make it out this month. An exception was made due to a legal requirement for the Social Security Administration to publish its annual cost-of-living adjustment.

The data reaffirmed market expectations for a 25 basis point rate cut at next week’s Federal Reserve meeting and another in December, which would bring the policy rate down to a 3.75–4.00% range. 

On Polymarket, there is a 97% that of a 25 basis point cut next week. 

BREAKING: US inflation rises to 3%, lower than expectations.

— Bitcoin Magazine (@BitcoinMagazine) October 24, 2025

That being said, White House press secretary Karoline Leavitt praised Friday’s CPI report for coming in below expectations but warned that the ongoing government shutdown could prevent the release of October’s inflation data next week

All other economic reports remain paused due to the shutdown that began October 1.

Treasury yields slipped and the dollar weakened following the release, while the Nasdaq 100 added nearly 1%. For Bitcoin, the softer CPI print provided fresh fuel for the rally that began earlier in the week, lifting the asset higher in early Friday trading. 

Bitcoin price this week

Bitcoin dipped around $107,000 earlier this week as analysts from VanEck and Standard Chartered maintained a bullish outlook despite recent volatility. 

Standard Chartered’s Geoffrey Kendrick predicted a brief dip below $100,000 soon amid U.S.–China tensions but saw it as a final buying opportunity before a rebound toward $200,000 by year-end. 

VanEck’s ChainCheck report described October’s 18% correction as a liquidity-driven mid-cycle reset, not a bear market. 

Analysts noted normalized leverage, strengthening macro demand, and growing institutional activity. VanEck said deleveraging cleared speculative excess, creating entry opportunities as Bitcoin’s role as an “anti–money printing” asset deepened.

Bitcoin’s current price is about 13% below its peak of roughly $126,000, reached earlier in October on October 6, 2025.

This post Bitcoin Price Jumps to $111,000 as Softer CPI Data Fuels Rate-Cut Bets first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

JPMorgan to Accept Bitcoin as Loan Collateral by Year-End

JPMorgan Chase plans to let institutional clients use Bitcoin (BTC) and Ethereum (ETH) as collateral for loans by the end of 2025, according to a Bloomberg report. 

The new program, expected to roll out globally, will rely on a third-party custodian to safeguard pledged assets. The bank already allows crypto-linked exchange-traded funds (ETFs) as collateral, but this expansion would enable clients to borrow against their direct crypto holdings.

The shift could make it easier for institutions to access liquidity without selling long-term digital asset positions — a use case that has gained traction among hedge funds and family offices.

The development represents a broader acceptance of digital assets across the financial sector.  Other major banks, including Morgan Stanley, BNY Mellon, State Street, and Fidelity, have been expanding crypto custody and trading services amid increasing regulatory clarity in the U.S. and abroad.

JPMorgan first began exploring lending against Bitcoin in 2022 but the project was delayed, according to Bloomberg.

Jamie Dimon’s changing tone on crypto

JPMorgan CEO Jamie Dimon has long been one of crypto’s most vocal skeptics, previously calling Bitcoin a “fraud” and a “pet rock.” In 2023, he said he was “deeply opposed” to Bitcoin and claimed it was used mainly for illicit activity.

However, his tone has recently softened. “I don’t think we should smoke, but I defend your right to smoke,” Dimon said earlier this year. “I defend your right to buy Bitcoin, go at it.”

In 2023, JPMorgan CEO Jamie Dimon said he was "deeply opposed" to Bitcoin and that it was for criminals.

Today, JPMorgan plans to allow institutional clients to use Bitcoin as collateral. pic.twitter.com/WMPg8qy9UW

— Bitcoin Magazine (@BitcoinMagazine) October 24, 2025

Despite Dimon’s reservations, JPMorgan has steadily increased its crypto exposure. The bank has launched the J.P. Morgan Deposit Token (JPMD) — a blockchain-based alternative to stablecoins — and expanded its Kinexys blockchain network, which now processes more than $2 billion in daily transactions across carbon markets, supply chain finance, and cross-border payments.

Bitcoin and Ethereum prices rise

Following the news, Bitcoin rose in the past 24 hours to trade above $111,000, while Ethereum gained 2% to hover just below $4,000, according to Bitcoin Magazine Pro data.

Back in July, JPMorganChase and Coinbase announced a strategic partnership to make Bitcoin and crypto access easier for their customers. 

The deal included a direct bank-to-wallet connection, the ability to redeem Chase Ultimate Rewards points for crypto, and credit card funding for Coinbase accounts. Both the bank-to-wallet and rewards features were set to launch in 2026. 

This post JPMorgan to Accept Bitcoin as Loan Collateral by Year-End first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

Newly-Pardoned Changpeng Zhao and Peter Schiff Agree to Bitcoin vs. Gold Debate

Changpeng “CZ” Zhao and Peter Schiff are supposedly taking their long-running argument to the stage.

The Binance founder has agreed to debate the outspoken economist and gold advocate after Schiff publicly challenged him to a “Bitcoin versus tokenized gold” discussion. 

The exchange follows Schiff’s announcement that he’s launching his own blockchain-based gold product — and CZ’s sharp critique that such tokens are “not truly on-chain.”

“As much as you voice against Bitcoin, you are always professional and nonpersonal,” CZ told Schiff on X today. “I appreciate that. Can have a debate about it.”

Schiff replied later: “Absolutely. Several people have already reached out to me offering to moderate. Do you have a preference?”

All this debate talk arrives hours after President Donald Trump granted a full pardon to Changpeng Zhao. President Trump said CZ “wasn’t guilty” and was “persecuted by the Biden administration.”

JUST IN: Binance Founder CZ agrees to Bitcoin vs Gold debate with Peter Schiff. pic.twitter.com/oKtxii6YqH

— Bitcoin Magazine (@BitcoinMagazine) October 23, 2025

Schiff’s tokenized gold pitch vs. bitcoin

Schiff recently said that he’s building a tokenized gold platform and neobank, with a blockchain token called Tgold at its core. 

The product will reportedly allow users to purchase physical gold through a mobile app, store it in secure vaults, and transfer or redeem it digitally. 

Schiff describes it as “real money for the digital age” — physical gold represented on-chain.

All this comes amid a multiyear gold rally, with prices hitting a record $4,380 per ounce earlier this month before settling near $4,128, at time of writing. 

Schiff argues that tokenized gold could provide a stable, asset-backed alternative to Bitcoin’s volatility, serving as both a medium of exchange and store of value.

CZ pushes back: “It’s a ‘Trust Me Bro’ Token”

CZ wasted no time in firing back.

On X, he called tokenized gold “a ‘trust-me-bro’ token,” arguing that such assets rely on third-party custodians — precisely the kind of centralized trust structures Bitcoin was designed to eliminate.

“Tokenizing gold is NOT ‘on-chain’ gold,” CZ wrote. “It’s tokenizing that you trust some third party will give you gold at some later date — maybe decades later, during a war, after management changes, etc.”

His comments echo a common view among crypto purists: that true digital ownership requires self-custody and verifiable scarcity — traits Bitcoin has, but gold tokens do not.

As of writing, there is not an agreed-upon or specific time for Schiff and CZ to debate.

This post Newly-Pardoned Changpeng Zhao and Peter Schiff Agree to Bitcoin vs. Gold Debate first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

Crypto Market Structure Bill Gains Bipartisan Momentum as Coinbase’s Armstrong Says “We’re 90% There”

Even as Washington remains hobbled by a partial government shutdown, momentum for U.S. crypto market structure legislation is quietly reaching new heights.

Coinbase CEO Brian Armstrong says the industry is “90%” of the way there, describing unprecedented bipartisan cooperation among senators working to finalize the long-awaited regulatory framework for digital assets.

Armstrong, who spent this week meeting with both Senate Democrats and Republicans, said the last few sticking points of the CLARITY Act — including rules for decentralized finance (DeFi) and stablecoin rewards — are close to being resolved. 

“Both sides are working hard to figure out the final 10%, and we’re getting close,” he said in a social media post. “We’re bullish on getting a bill passed by year-end, and hopeful it’s out of Committee by Thanksgiving.”

The Coinbase chief’s optimism comes amid a surge of engagement between lawmakers and crypto executives, marking one of the most serious bipartisan pushes to bring clarity to digital asset regulation since Congress first began debating the issue years ago.

JUST IN: Coinbase CEO Brian Armstrong says, “There is strong bipartisan support to get this market structure legislation done.” pic.twitter.com/Z8PI1OXDJc

— Bitcoin Magazine (@BitcoinMagazine) October 23, 2025

Bipartisan crypto breakthrough in July

The legislation at the center of these discussions — the Digital Asset Market Clarity Act (CLARITY Act) — passed the House of Representatives in July with a strong bipartisan majority of 294–137. 

The bill now sits before the Senate Banking Committee, chaired by Sen. Tim Scott (R-SC), with hopes it could advance to the Senate floor before the end of the year.

In a CNBC interview on Wednesday, Armstrong described “very productive” meetings with senators from both parties, calling the level of collaboration a positive sign for the U.S. crypto industry.

According to multiple people familiar with the meetings, senior lawmakers including Senate Majority Leader Chuck Schumer (D-NY), Sen. Kirsten Gillibrand (D-NY), and Sen. Cynthia Lummis (R-WY) attended or participated in discussions with Armstrong and other crypto leaders such as Kraken co-CEO David Ripley, Uniswap Labs founder Hayden Adams, and Chainlink Labs’ Sergey Nazarov.

The CLARITY Act seeks to end years of regulatory ambiguity by clearly distinguishing which digital assets qualify as securities under the Securities and Exchange Commission (SEC) and which fall under the Commodity Futures Trading Commission (CFTC).

Under the bill’s framework, sufficiently decentralized networks would fall under CFTC oversight, while tokens with more centralized control or that function as investment contracts would remain under SEC jurisdiction.

The legislation also introduces clearer rules for decentralized finance, secondary trading markets, and custody services — areas where the lack of uniform federal guidance has long frustrated both innovators and investors.

DeFi and stablecoin legislation

Still, the final 10% of negotiations may prove the toughest. One of the key unresolved questions is how to regulate decentralized finance platforms. 

Armstrong has urged lawmakers to focus oversight on decentralized intermediaries — such as interfaces or aggregators — rather than attempting to regulate open-source protocols themselves.

Another area of tension involves stablecoin rewards, which Armstrong says the banking lobby is working to eliminate. Coinbase and other industry advocates argue that consumers should be able to earn yield on regulated stablecoin holdings, similar to how traditional savings accounts pay interest.

These debates underscore the competing visions within Congress: Democrats remain focused on preventing illicit finance and ensuring consumer protection, while Republicans emphasize innovation and competitiveness.

Despite the bipartisan goodwill, the timing remains precarious. The ongoing government shutdown has slowed committee work and pushed back the formal markup of the bill. Some lawmakers, including Sen. John Kennedy (R-LA), have expressed skepticism that the committee is ready to move forward, citing unanswered questions about regulatory authority and industry influence.

Still, supporters say the momentum is undeniable. Sen. Lummis, who has long championed digital asset legislation, recently told attendees at the SALT Wyoming Blockchain Symposium that she expects the market structure bill to reach the president’s desk “before the end of the year — hopefully before Thanksgiving.”

This post Crypto Market Structure Bill Gains Bipartisan Momentum as Coinbase’s Armstrong Says “We’re 90% There” first appeared on Bitcoin Magazine and is written by Micah Zimmerman.