The Bitcoin Policy Institute just filed to intervene as a defendant in a New York lawsuit that should concern every bitcoiner who self-custodies. A pseudonymous plaintiff "Noah Doe" is trying to use New York's 1958 lost-and-found property law to claim ownership of ~39,069 dormant bitcoin addresses holding an estimated 3.8 million BTC (~$293B). The argument is if your bitcoin hasn't moved in 5+ years, anyone can download your public address, report it to the NYPD as "found property," and claim it's theirs. The addresses targeted include wallets linked to the Mt. Gox hack, the Counterparty burn address, and 21,000+ addresses attributed to Satoshi Nakamoto. Matthew Boyer is stepping in because they hold bitcoin long-term, just like millions of other HODLers, and this legal theory would criminalize the most basic principle of self-custody, holding. Inactivity is not abandonment. A public address is not "found property." And a law written for lost wallets and umbrellas has no business being applied to the Bitcoin blockchain. A hearing is set for July 14. The outcome could set major precedent for property rights in bitcoin.

Net equity supply just flipped positive for the first time in ~20 years. Companies are issuing more stock than they're buying back.

TFTC 769 w/ @Seth For Privacy & (vikrantnyc): "Everyone's already sending text, photos, and video through messaging apps. So why not money? We put self-custodial Bitcoin inside Signal & the genie's out of the bottle." We discuss: ⚡ 150M users ⚡ Provably private ⚡ Self-custodial

Nick Shirley confronts staff at a Queens adult day care over records showing 7,899 billed members, amid $12.9M in 2024 taxpayer payments.

"It's a fork of Signal with self-custodial Bitcoin Lightning. All your chats and your entire network move along with it." (ODELLXYZ) and @MartyBent on Radar Chat.

Apple just sued OpenAI in federal court for trade secret theft. The allegation is sweeping. Apple says OpenAI's Chief Hardware Officer Tang Tan, who spent 24 years at Apple as VP of product design for the iPhone and Apple Watch, ran a coordinated campaign to steal confidential information after leaving for OpenAI. According to the complaint, Tan used Apple's confidential project code names during the recruiting process, asked job candidates to bring Apple hardware components to their interviews, coached departing Apple employees on how to evade security procedures, and solicited details about unannounced products. He's not alone. Apple also names Chang Liu, a former senior systems electrical engineer who allegedly failed to return an Apple-issued laptop and used it to download confidential technical documents before joining OpenAI. Liu then reportedly shared that information with other Apple employees applying to OpenAI, advising them on what to study for their interviews. This matters because OpenAI is rumored to be building its first consumer hardware product, likely a smartphone that replaces apps with AI agents. If true, it would be a direct threat to the iPhone. Jony Ive's device startup io was acquired by OpenAI last year for $6.5 billion to help with the hardware push. While io was named in the filing, Ive was not. Apple sent OpenAI a letter in February raising concerns. OpenAI never responded. The AI arms race is now a full-blown legal war between two of the most powerful companies on the planet.

"If you're not there, you automatically vote yes. This is getting brute forced through." @MartyBent and (ODELLXYZ) on the EU sneaking chat control through while Parliament was on vacation.

"The industry has been cucking by overcomplying. There is a line in the sand that we need to draw." @MartyBent and (ODELLXYZ) on Bull Bitcoin suing France over DAC 8.

Power law projections for the next cycle top November 2029: median $365K, low case $184K, Q90 $500K, Q100 million dollar Bitcoin. "A 1.4-1.5x multiple over the trend is totally possible."

Matthew Mezinskis: "Statistically, relative to the power law, this is as cheap as Bitcoin has ever been. Deep value, as good as you can get." "The smallest drop in any of these bear markets, but probably the worst sentiment we've had."

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Tesla is demolishing portions of its Fremont factory's Model S and Model X production lines to make way for new high-volume Optimus humanoid robot manufacturing lines. They have plans to eventually reach an annual capacity of 1 million robots.

A website turns the 1-second Bitcoin price chart into an animated battlefield where buyers and sellers clash in real time.

Cerebras CEO Andrew Feldman: "We have a shot with this technology so that not our children nor anyone they know dies of cancer... Make your tally of the cons and the pros. There's a shot that our children, none of them nor the people they love, will die of cancer."

"AGI, I suspect you'll agree with me, we've hit it. We just haven't exactly deployed it fully... By any definition we had 20 years ago, we've blown past it."

Cerebras CEO Andrew Feldman: "We have a $25 billion backlog... OpenAI, Anthropic, Google, Microsoft, AWS — all of these players are not chasing 'if you build it, they will come.' They're chasing the demand is booked. How do we keep them from leaving?"

Coinbase Vice Chair on the Clarity Act: "Democratic and Republican senators are working around the clock to get this across the finish line."

CFTC Chairman Mike Selig on the CLARITY Act: "We want to get in statute... We would have exchanges that are federally regulated... States like New York are very aggressive against crypto. We need federal protections for the product and for the exchanges."

Strategy sold bitcoin last week. For the first time since 2022, the most visible corporate bitcoin buyer in the world turned part of its treasury into cash. The July 6 SEC filing shows two batches. Strategy sold 1,363 BTC for $80.8 million through June 30 at an average price of $59,256. It sold another 2,225 BTC for $135.2 million from July 1-5 at an average price of $60,773. That's 3,588 BTC sold for $216 million at a weighted average price of roughly $60,201. The proceeds went to pay distributions on its preferred stock and replenish the dollar reserve used for that purpose. This wasn't a mystery whale, a miner plugging a hole, or an exchange wallet shuffle. This was Strategy managing its capital stack. We knew this door was open. On June 29, Strategy authorized a bitcoin monetization program that could generate up to $1.25 billion for its dollar reserve. One week later, the company proved it was willing to use it. The sale deserves scrutiny. Strategy still holds 843,775 BTC, but preferred distributions and debt service don't care about slogans. They require dollars. The deeper the capital stack gets, the more pressure there is to actively manage the bitcoin beneath it. Freaks should keep that distinction clear. Bitcoin is simple. The wrappers people build around it rarely are. But something else happened that matters even more. Bitcoin didn't break. As of this writing, bitcoin is trading around $64,550, roughly 7.2% above Strategy's weighted average sale price. The market took 3,588 BTC from the most well-known holder on the planet and kept moving higher. How many times were we told that Strategy and the ETFs were the only buyers? How many people claimed bitcoin would collapse the moment those flows reversed? Well, Strategy sold. ETF holders sold. Other people bought the corn. That's how a real market works. Coins move from leveraged structures, weak hands, and impatient holders to buyers willing to sit on bids when the headlines look ugly. Strategy's sale doesn't prove that every risk is gone. It proves that bitcoin is bigger than Strategy. Bigger than the ETF complex. Bigger than the capital stack Michael Saylor built on top of it. Don't confuse bitcoin with the wrappers. Don't confuse a treasury company with the network. Don't confuse a visible buyer with the only buyer.

Howard Lutnick: "We try to bring 40 to 50 percent of manufacturing of semiconductors home to America so we can take care of ourselves. This is critical capability, which also brings with it, for Micron alone, 100,000 American jobs. Just Micron alone."