Chart from FrankAFetter shows that bears are currently paying historically high fees to short Bitcoin.

This week, Bitcoin’s role in the highest halls of power shifted. The US military is exploring it as a tool for cybersecurity and power projection. Sign up below to get our latest newsletter in your inbox tomorrow morning.

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NEW BITCOIN FORK PROPOSED SET FOR AUGUST LAUNCH - EXERCISE CAUTION IF YOU PLAN TO DUMP THE AIRDROP A new Bitcoin hard fork dubbed “eCash” is being developed by Paul Sztorc, with a planned release this August, introducing controversial changes and potential user risks. Holders would receive a 1:1 split of their BTC on the new chain. For example, 4.19 BTC would result in 4.19 eCash. Users can choose to sell, hold, or ignore the forked coins. The project plans to initially replay transactions across both chains, though a coin-splitting tool is expected to be released to separate assets. One of the most contentious elements is the proposed reassignment of a portion of Satoshi Nakamoto’s estimated 1.1M BTC (Patoshi coins) as a premine for investors on the new chain. Sztorc argues this approach avoids a “zombie fork” by enabling early participation and funding, claiming a pure fork would limit coordination and increase the risk of developer capture. ⚠️ Users are urged to exercise extreme caution. Transaction replay means activity on one chain could unintentionally affect funds on the other if coins are not properly split. Sztorc clarified that replay risk would primarily flow from BTC to eCash, not the reverse. However, splitting coins may require exposing private keys, introducing additional security risks.

TORONTO POLICE SEIZE “SMS BLASTERS” IN FIRST-OF-ITS-KIND CYBERCRIME CASE Toronto Police have arrested three men and seized multiple “SMS blasters,” a cybercrime tool never before seen in Canada. Authorities say the devices mimic legitimate cell towers, tricking nearby phones into connecting. Once connected, victims receive fraudulent text messages posing as trusted organizations, a tactic known as “smishing,” designed to steal personal data. Police believe tens of thousands of devices connected to the blasters over several months, with more than 13 million network disruptions recorded. These disruptions temporarily blocked phones from accessing legitimate networks, raising concerns about interference with emergency services. Investigators say the devices were mobile and operated out of vehicles, allowing suspects to target multiple locations across the city. Three individuals, Dafeng Lin (27), Junmin Shi (25), and Weitong Hu (21), face a combined 44 charges, including fraud, personation, unauthorized access to computer systems, and mischief endangering life.

NEW: Pantera Capital is urging 🇬🇧 London-listed Satsuma Technology to sell its remaining Bitcoin and return cash to shareholders after its stock collapsed about 99%. The firm still holds roughly 646 BTC (~$50M), but its market value has fallen below its crypto holdings.

NEW: Riot Platforms sends 500 Bitcoin ($38.95M) to NYDIG.

LARGEST QUANTUM ATTACK ON ELLIPTIC CURVE CRYPTOGRAPHY TO DATE Project Eleven awarded its 1 BTC “Q-Day Prize” to Giancarlo Lelli for breaking a 15-bit elliptic curve key on a public quantum computer, the largest real-world demonstration yet of an attack class that could threaten ECC-based systems. The attack used a variant of Shor’s algorithm to solve the elliptic curve discrete logarithm problem, the cryptographic foundation behind Bitcoin. This builds on a 6-bit quantum break in 2025 and represents a 512x increase in complexity. While still far from Bitcoin’s 256-bit security, researchers say the gap is increasingly an engineering challenge, not a theoretical one. Estimates for breaking full-scale keys have dropped sharply, with recent studies suggesting it could require as few as 10,000 to 500,000 qubits. Roughly 6.9M BTC sit in wallets with exposed public keys, making them theoretically vulnerable if quantum capabilities scale. Experts stress this does not pose an immediate threat to Bitcoin today, but underscores growing urgency around post-quantum cryptography.

This is the most Bitcoin has diverged from global money supply on record. The SnapBack could be legendary. Are we witnessing the beginning of this move?

FOLD LAUNCHES BITCOIN BONUS PROGRAM FOR EMPLOYERS Fold unveils a new Bitcoin Bonus Program, allowing companies to pay employee bonuses in BTC with built-in vesting, without changing payroll systems or handling custody. The launch marks the debut of Fold Business, a B2B platform bringing bitcoin-native financial tools to employers. Early adopters include Steak ’n Shake (10,000+ employees) and Simple Mining, using BTC bonuses as a retention and incentive tool.

Inventor of Proof Of Print just unveiled a filament dryer that literally mines Bitcoin while keeping your prints clean. The prototype delivers 6 TH/s at 140W, repurposing ASIC waste heat to dry filament during the printing process. It follows his earlier Bitcoin-mining 3D printer, expanding a growing lineup of hobbyist-friendly dual-use mining gear. Filament dryers are essential for serious 3D printing. They maintain controlled temperatures to prevent moisture buildup, which can cause popping, stringing, bubbling, weak layer adhesion, and poor surface finish. This design turns that necessity into a feature: instead of wasting energy, the heat generated from mining is used productively, effectively letting users stack sats while improving print quality.

KRAKEN FILES 56M CRYPTO TAX FORMS FOR 2025 74% of transactions were under $50, with 18.5M under $1. Only 8.5% exceeded $600. Kraken is pushing for an inflation-adjusted de minimis exemption and flexible staking tax rules to reduce the compliance burden.

“They don’t understand how much of a done deal Bitcoin is.” BritishHodl joins to discuss: 🔸 How STRC takes MSTR to 1M+ BTC 🔸 Surviving Missile Attacks in 🇦🇪 Dubai 🔸 Stablecoins as 🇺🇸 America's New Weapon Full Episode: youtu.be/w4UgaiceQBs Fountain: https://fountain.fm/episode/kHONXEvudQk356T8roBF

The Bitcoin MVRV Ratio has approached 1.3, suggesting investors remain profitable.

NEW: Capital B acquires 12 Bitcoin (€0.8M), bringing its total holdings to 2,937 BTC.

The number of active Bitcoin addresses continues to plunge, currently revisiting 2017 levels.

NEW: STRC may be the start of a structural shift in how corporate finance operates, per Bitwise advisor Jeff Park.

STRC is driving critics wild. Too good to be true, or the mechanism that lets Saylor stack 1M+ BTC? Sign up below to get tomorrow morning's newsletter in your inbox. Then catch Rob Wallace and Zach Herbert at 12:30pm ET as they break it down live on X.

Bitcoin News

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A highly curated list of Bitcoin news and updates, delivered straight to your inbox every week.

Bitcoin ETFs just pulled in $996M in weekly net inflows, the strongest showing since mid-January and a clear reversal from March’s outflow-heavy environment. The move was driven by a late-week surge, including a $663.9M single-day inflow, as institutional capital rotated back into risk assets amid easing macro tensions and a weakening dollar. Total ETF assets have now surpassed $100B, signaling that institutional demand for Bitcoin exposure is re-accelerating after a choppy start to the year.

NEW: 🇫🇷 France is preparing new measures to counter a rise in crypto kidnappings, Interior Ministry delegate Jean-Didier Berger said at Paris Blockchain Week. The announcement follows a recent ransom abduction attempt in Burgundy and a countrywide surge in “wrench attacks.”

NEW: 🇺🇦 Ukrainian authorities have arrested a cybercrime suspect in Uzhhorod tied to a $100 million international fraud network, after tracking financial irregularities despite attempts to evade capture by faking his death and assuming a false identity.