---
title: "FBI's Warning: Guard Your Stack 🔐, Wall St Blinks on Bitcoin 🏦, NYT Hunts Satoshi Again 🕵️"
date: "2026-04-08"
newsletter: btcbreakdown
esp: beehiiv
word_count: 1037
has_sponsored_content: true
rad_version: "1.1"
---
# FBI's Warning: Guard Your Stack 🔐, Wall St Blinks on Bitcoin 🏦, NYT Hunts Satoshi Again 🕵️

![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/f6e10a52-61d7-493e-9176-2c3ccf3027f9/image.png?t=1770984946) 

[![bnb](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/41a67f3b-3f4b-43ce-8e07-6b0885b3187f/image.png?t=1775652384)](https://link.mail.beehiiv.com/ss/c/u001.5kR4nQBY0jIlc01wXZ5XvU56xqEFK7MyuyjSgJmbbtmTa1wEiPKJLx4wXsDjn30oKKXHpNjfffDRW-UA7v1AgvvxTKq70hUJE233tjZyraSuKd12g5OP-BD1-tg-fFjeMLqB23PEAh8bkYwe8Kc1DJstdxGcGqIcJN8aYtqOuPYihowHXoMPccmdCur1G4OQFZJIb-eI5lqCy7Ct2VOcUgDw7QzGowVxlOVAySTfwId1NGaMLV-SM8RQ3Jr6uKLg3to36qCDYRRlTRXnJuW6Tg/4pm/igw96mIVSKWfvUIe29sOXA/h4/h001.Y1CH61z0vJToOwP9mCo%5Fu6JYpxAjwz6LjLm6y5JVYTY) 

#### Greetings Bitcoiner,

Welcome to Issue #515 of Bitcoin Breakdown, where it’s OPSEC Wednesday special, followed by the latest Quick Bits snippets.

But first, today’s Top Stories:

* 🔐 _FBI Logs $11.4B in Bitcoin Fraud - Record Year_
* 🏦 _Schwab: Even 1% Bitcoin Reshapes Portfolio Risk_
* 🕵️ _NYT Names Adam Back as Bitcoin's Satoshi Nakamoto_

_Reading time: 5 min_

### Stop losing $100k+ annually to taxes with zero assets

[![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/efe48773-3871-4b07-993d-4b1f1e19d819/HERO_IMAGE.png?t=1773269852)](https://link.mail.beehiiv.com/ss/c/u001.5kR4nQBY0jIlc01wXZ5XvU56xqEFK7MyuyjSgJmbbtmTa1wEiPKJLx4wXsDjn30oKKXHpNjfffDRW-UA7v1AgvvxTKq70hUJE233tjZyraSuKd12g5OP-BD1-tg-fFjeMLqB23PEAh8bkYwe8Kc1DJstdxGcGqIcJN8aYtqOuPYihowHXoMPccmdCur1G4OQKRzypockthjr6klTj8DgRfxZj6deNM17V7FNMEZAdGgMGENvSToE6mtwFD3ICxzwMly7rHVFANDoEXo8c3aGdNlKty8EKQOKQkG3Az9XYiRnvIi4flrNNp0pydV-%5FqsyB1KrFD1NYmjBDgWd%5F%5FkVxfhGjfrS6YVkP5WmJStwChCsliqha-yljX5YkBGUvZdYTbSRct5z3H8w5Dhy3sagopxgXW93pqyjVdmjQxqePgU/4pm/igw96mIVSKWfvUIe29sOXA/h5/h001.G3PEzx2I23cCz7mEhSgFaCm6hYeu%5FJ7f5x5cQd0xtpg) 

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We are not a tax firm. Not licensed CPA's, and we do not represent ourselves as such.

![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/dd6a1a93-4ef1-4ddf-9863-33da3f71489d/TODAY_S_TOP_STORIES.png?t=1775653476) 

🔐 **FBI Logs $11.4B in Bitcoin Fraud - Record Year**

The FBI's Internet Crime Complaint Center logged $11.4 billion in Bitcoin and crypto fraud losses in 2025, a 22% jump over 2024\. Crypto investment scams drove $7.2 billion of that total, while Americans over 60 bore nearly 40% of all losses.

_**Why it matters:**_ _Eternal vigilance is the price of the financial sovereignty Bitcoin makes possible. There is no fraud department and no chargeback. Upgrade your opsec before you need it._ [_Read more→_](https://www.ic3.gov/AnnualReport/Reports/2025_IC3Report.pdf?_bhlid=0fd97eeb2cefe5d0e742d5864ae6a1c7f3700262)

That vigilance also cuts both ways for institutional money...

🏦 **Schwab: Even 1% Bitcoin Reshapes Portfolio Risk**

Schwab Asset Management research shows a 1.2% Bitcoin allocation already consumes 10% of a conservative portfolio's risk budget. Using a returns model, moderate portfolios could justify 6.6%, with Bitcoin's annualized volatility of 72.1% explaining why small positions dominate overall risk.

_**Why it matters:**_ _Schwab's 1% call is institutional left-curving. No model prices the risk of holding 0% Bitcoin or the fiat debasement in a 60/40 portfolio over 20 years. Study Bitcoin, then allocate._ [_Read more→_](https://www.schwabassetmanagement.com/story/adding-cryptocurrency-to-portfolio-2-approaches?_bhlid=00607a8042d8570460e684e880b5feb0696a8518)

The fiat press is watching the space closely too...

**🕵️ NYT Names Adam Back as Bitcoin's Satoshi Nakamoto**

The New York Times named Adam Back, the Hashcash inventor, as the most likely Satoshi after a year-long investigation. Central evidence: stylometric analysis found 67 shared hyphenation errors with the Bitcoin white paper, nearly double the next suspect.

_**Why it matters:**_ _It does not matter who Satoshi is. Bitcoin has not needed its creator's keys for 17 years. Aaron Van Wirdum already did the serious reporting. The Times is running a fiat-media story._ [_Read more→_](https://link.mail.beehiiv.com/ss/c/u001.B5kSFgqpNdMSV68xZcV-ENEWjDi3evqWvSxbJgY80hz2DOhndb0kib8-D8nTF8Hp-8gMAAo2DtE0ZDcFBzhIcgOTyyvzp5enQj36oUbfBHPnZMQ8J6zW7krmiwLZUA4E7qm9HHzEO8qzgT-hZXSpw7S19vH5sJgWaRQaUmHwrp%5FfSWwvbIBivVaAeXBFb8j5gJrmjOwJ1CjrgyqdyIjW7We2m0bIz-BynKtuIQpYy-Iu80IYoLEN3roYvHftbx7EWvVnTKL3z%5F7Nim4LwJUR88N4rXDfxinfSfil6T0-fHCzn8hnxv1FeH3PVEwX1Yza/4pm/igw96mIVSKWfvUIe29sOXA/h10/h001.aItIuwU4G58nXKvQDFVkORXmh%5F25KoAQuaqe66Rmhmo)

[ Listen on Fountain: FBI's $11B Fraud Record, Schwab on Bitcoin, NYT Hunts Satoshi  Today's top stories, under five minutes. Fountain: Podcasts & Music ](https://fountain.fm/episode/S9dwRJhRJmXpKpnRp2Kx?_bhlid=600c6d1a562739502c516ee448297ada6cc677b6)

[![](https://feeds.fountain.fm/3djeBHdcnwTljM4Gbm34/items/OIzKEL9tnodoHKmLMLbU/files/COVER_ART---DEFAULT---b02a59d6-a90b-47e1-a66c-e36dfaa85e93.jpg)](https://link.mail.beehiiv.com/ss/c/u001.Y6tYYbvx1ckIkgtYJbqvrUdr47qrPcUqYz01g0yHoZbM9tZ%5Fnwn%5F0a8cQuvtaTuveV22JVQThehovkZgnjGqLIAsczXUZlUR%5F0vze22kmTGgYJvMrKqAgYWPQp703xlj2bpAjFl1BT9LkwUNqpV0aqcJdXcyw1ee%5FeRhUekgvwy2lLsz3Drz2nHnn5t7dBD7A5ZAsqx1jffQYU-6AEc7yhoNrpqCmOcuZmGehhviEb4yUAJYG1fgJEg8Uls25CQjpIralknW8Bi%5FHdtKBnEbmIGe0oOjDPwLUuDDwFRKl98MpkJplpfoqhCTUMVC6WF1daii9KSWRE39WgBkX2kPng/4pm/igw96mIVSKWfvUIe29sOXA/h13/h001.19OSSAK3kMH0Psa0ItpVOxz9gIJ%5FDXlnPhDly5PrcNE) [](https://te.sparkloop.app/click/team_00dc48448b27/41a4db43cfc85d3c0b269f5cd8a1a37c/?_bhlid=2bc3008640f67bcbc63bce0aa4498822106a7ac4) 

### Poll #515: How likely is Adam Back actually Satoshi Nakamoto?

[ Very likely >70% ](https://link.mail.beehiiv.com/ss/c/u001.2pHcgGmPXAeaBA4HeDJFAXeYRVXtsEV7nbmZt3YevDDxfQ-QlaykWeNkHmXJhlJUKUO5y8nplCRBf9xKfGZDsELMOk2eMkhgsmaiYmALSubREU8XRkxqUzGwvU%5FI5-yzgd1yPE4vfpXCbGyKHKA2-bBI4ZEbHD0b0I9pNdpOZJC463FRpS7QTx6YtzbVi90%5F7ZlAN9mpYNfUD6fP5%5Fw8O03Ok5-pDnGOeyeUXJQUPz2J7BTzxm4CWjvxiLDxiuGKP61UkF3f3%5Fjk%5FJF1elHeQjaLJebMsxf%5FTOjsjLkb4b-6vPXxzoSFYF4BPPVz6GgCM3FHu7PCQsIlArX0mKsl3zTCYfcFivxwa3estvhh1hggUqA3%5F8LSn5D9jZHXJ02s%5Fkqh%5F6lUnAsD1GNDagx6Ubz8MQnmPUVRLVXWThJrfgVHjPPAuILaKS3PLeMBuGZUbOW4-z%5F6KTk9QvuJekkNdEc3Tef7JzXsYmKE-P1mPhXKfYL38DUV3bAswKSyJUBLkVEOoIj1Hj1xiWJT9%5FQygm1Xi6Bz20uZNX7-hTAaupL0GM1j1DwpxsFFlkeeO-xtv3ZPP-bWVFrviag49CCbAKI0Gjl1bs6QZy38j6uMKE1tCH01LpwO%5FU1SRsPaDHp0Wy7pCV82FSpnpKRJuI6HiyctZByeaA-%5FjiG-OdKMUBQHnx5Rk8Z0weKFErFhXYU2h%5FMup5quNqhBPSgeP%5FuQF5ui0ae9qMmzB3EdWn-NqB%5Ft9cA%5FRN8Hn3qOpS5OzRjBPydVV%5F1CJugj0tfI9iyiGX0kGN4bSXiqK7MJLetKrQqXZ0rAApic%5FHKpR4byrvkBEmjvT5Z91kQ0CUy3iFE%5F54ZGLZJ0RsO-GOfwL3EdYVleRWmf%5FJLjDnMdRR-Yg2HZ62rsM7I108tWRykk-eH4LCQsdOQIR4Li%5Fs8cG7NguVDKsuYdc1yNoPBJ9NuKd8z0yqdDURcs2H-NXEY1vtmSItSw4xv5jxmPHGc0DM%5F1m8clQd5Y-EIZcyfnmO2X%5F6pGfNN0ruCiH6pAqbMDSvkNq66WKUn2Zbxp87zQNeDZDb0Xc5UPEfRO0h%5FLEU1Fdeqt4pJug8Z4hArlMpvT4MRKOoc8F6pc9Zvw%5FsBBEq8XVv0/4pm/igw96mIVSKWfvUIe29sOXA/h15/h001.d-FxrwpWDXbREYJK5Jbhc-hFhQ3F6jMU6UD9b81HQoU) [ Possible 30-70% ](https://link.mail.beehiiv.com/ss/c/u001.2pHcgGmPXAeaBA4HeDJFAXeYRVXtsEV7nbmZt3YevDDxfQ-QlaykWeNkHmXJhlJUKUO5y8nplCRBf9xKfGZDsELMOk2eMkhgsmaiYmALSuZTUIrE%5FLy80xN4fZuQZk8hMO5SN6248mKAxXElIJwfT7UeRnPQltrf5075jkXu3Pl%5Fos26rafj2Vn-4yJRSXeJpCeUOZ59sbuTul2XHWjmg013d5mi%5FZuRf2ENhXnAvHzv1pkHkrdrZ6P%5FMiNa549eVQDMDPoVujjrcviBoK8YT%5F37RSXxsoXjT4JCxolHOLw8jCmV%5F5XpNN1xGicqM9bN4SlYaPXZBa6PaGBUrIh3a-LKMJYACOPxQlA5qVJK7Gylgaaje1GAXRFpKpU7eUKuaXRy7ERuPF8mLQsMhRcFBcqKKUV79lLlbF2tsvBtkWH7D%5FGTY4VUy9H%5FaTpv%5FUAQiYy4zIVgIblPd2Jy%5FqFFL9RwbcE%5FY9kTBQVNkxK3eKGahSY-X0Fj1v1T8Yo4ty5K2JC5MMKXez%5FmcGL9ZmoJaGgHfQMOQuFWWvYuRZdZz68diCdboaQdjZTyohnm4uGGnaEeGHsS47g%5FsGsJ-i%5FUv1Xgdu8LB4eRPG%5Fstj72w31LklfFLbLxjIXXEln3MOQkkpBmQoJScm2sB--Ng2cDW%5FAl5f10n3fDrZ8IsqTAvYpJxjqLskZsuUUtocSm8woxoFS-6wf2S1gFViIhreW-Ffjn5BF5hkknL-2mHrpIoEGevKB%5FfgBpOQ0mt3ZR1ySj05pGxZZnoACU7a9pLu93KWjyCPyaDzcJesAeXsPp3K%5FNaPbQe8g-IYFNUWWNmgW%5FB-QM7v%5FCQX2iE%5F2oKWiW6XUZBGoBJr3VDC8yi9Irq7FssTlq3ivL9-1rtCe0H0NFmX0%5FpikCBB31kZRlJ9lK8xyaAmEyJDpPbHuvd6Y5GkJfhYxmdRuYk87EmF24KhyR99QvzJ7NSPlBNyXvf8RX79oCGPIBuoLTCjFAHEytcxl4%5FMBkXJvKZiojdQrhJwJd7crfbpZ406c3isrCI00EbWm70SIGTsjo7MATd6odBlmswbGRYBYDX4kdMu8fyvxSWV4XFAZgFmfhXgHz6hMZgPeEx%5FRN0lsjaOCoAl0dpVI/4pm/igw96mIVSKWfvUIe29sOXA/h16/h001.k%5F8iauv3giqlnWuNEzWZjX9z2vbLoBpchq1uiDWuS2w) [ Unlikely <30% ](https://link.mail.beehiiv.com/ss/c/u001.2pHcgGmPXAeaBA4HeDJFAXeYRVXtsEV7nbmZt3YevDDxfQ-QlaykWeNkHmXJhlJUKUO5y8nplCRBf9xKfGZDsELMOk2eMkhgsmaiYmALSubVH0kk8woLZDfHZXHB6snu%5Fh18s89eGOlaHjqmGT4fhRE0YJrSLpaNuX04Q075Fq%5FWy3UA1mb2s24QtH3-IEwQFuSVK7xQL1R6zg3-808XTLvfk2cJffHu%5FRmsya3WVBSE2S1klT9gDQ4EoZ70gZuUCOebIncE2sULXRuxFjm0cFrZQpCDD-oqf%5Fb0gSL5-yFujBDFBLb8kt8imVGVS7jy8nG2FL2X1V6AIVDiV%5FX9bYlswAQgWkGCwmz9STrLgiewYkHg0j%5FiKEDjy09f2t2k-3x%5FhQd5a9vguDH77xeu9apIqAGgE304gPpiiOjtcciezTIbkBHUUjR3hmGMdvU-vPohxTgC3rTbPv-P%5FQYDZd%5FkwFBZD2en29PS5jA%5FbpVv9iFSBoroa6oYWeYhirB2QDj7qA6rZ-NPUnVaPEYmvLb3fvNP8oIhyaGtrEo7ZW4bKQypn6YRB%5FoCm6zheew2rLLb5%5FNYlTBq2Zjq2Jn95ZopNi5EGXoUTIz6pZcgtxBWVEulI0mQWkNGI-tVdzp3kUKqjv%5Fso1f8yRKY2Zz49lxmEBtnkUIXm-Or33jDPD2xvuxZcmKbMc3LpUiFFRGoSUwKcFoBRmNCoKHJKDUxRb9I82oIqGkyL73njOqeKbmLwmOuR8whSj6PX24S1QvmOQCBAbyYW5AguGn6xAcTyQ9oc7%5FkgyiRuxLuYDWu06pelpH3LklsnRq7D9lIWXFtIWaqmJUxug5vw-qFPc1-3sDmICJ9jt10CTM6Bz1vy9TUZXPdmJMQa8p98JbqZHD%5F3CD39JquJLvfbobz9tNFFuMIN4RTjkOCSE45MuYkAShn2GkmKFWQbQjFusic3m9Cb8BSuyhDfzAHQeHMdhqqxe-%5F3sk8WunBCgmOr61uFGh%5FFvz-gwxoPQ1NnRtiIAYpMDQ2hMQVqXrWUDN%5FoFqKM9P75udDAorT-slZbE4P816Wzm49ZxL9zj1b%5FZ2Cyd4gQRmem-JCcPTReX7yf7nKQQUb7jveiH2hJw0%5F0yDeMwc/4pm/igw96mIVSKWfvUIe29sOXA/h17/h001.HXzVhlQUmtoh%5FRzLfJxJTkfvgEgHoWTafM95CF2oiqY) [ Definitely not him ](https://link.mail.beehiiv.com/ss/c/u001.2pHcgGmPXAeaBA4HeDJFAXeYRVXtsEV7nbmZt3YevDDxfQ-QlaykWeNkHmXJhlJUKUO5y8nplCRBf9xKfGZDsELMOk2eMkhgsmaiYmALSuYmrHkV0JHk0wrcMCVqrD7L13B8Hz4iAIL3qwiZq-LHR2g%5FYmGe-nTzriRXEHg1T-aX%5FQe6lZyZ4Lk5LP-KTF8uNTZ8EdlNkJMXFJALvBRdJdlGUnLfbAuDjFwaSW4YsoC7QzheFUiQEzDG-7IyIH2oWVlVCej3syREP0HP-3dDl5oRMTqrBCoqwEhV-tjOjw-rUQw1FJVcL6-a6e2TxbY3rIU83xNs39QqPGON1GyfrxGKQuibbipx9STROW60acD0wkOHxdjCKGGflP2CmfZ9rHMXT30sXR0UquVBzbwyzQscAU19lJg24Ozlhabk5SczlbBOhYrXkBDkCxXErJW%5F3IWWQmHZhw7ZfduOhFcmAJjgk-St7VvdlyUG-dsaTppQA7ZX3dusrCTN-D3EbWfJEiLgFiYjs6j1FHxkIz31im7Zd0tZaE1VDHkLwU12e4tzUjqpEtyUgnV-5iJrh4GMPM3KEQtj%5Fifr2kn51O3w5TUwLUut7-CEfHHXtgDHXNMaxvWeMpyfrF5WzvWiwp6u3ro%5FswqcAUNfqVSL6TYnq5g6BVMDkpubbfF%5FaKbM6COYaxQCtKGcw9CWz2r5oL7chTnRAaABOh5Ts5V2lqV-6KPLYlgIdj3PIGwONASKbS3I6D2HSHkvkrVT0KPOnz4cD-HbyRITfR71vX1UBetFRuDhVROlCGU7-czsYkct6K0LW1tQHjKSwwkI2c%5Fy1GYaj75hcJ4nMkBmPfubmoYLlL0YFVXsio-k3LOxQd7HydW2dPu6a9NUsaA9Fa2OPzL6GfjqStJq6WaKYnHRiIN3c6%5FRdVd1XH8CrsfzpIBp2bhNJ2W2Stk4IZ5E8CaheLXgIVgZ8Y4bXYtyWvwhRx50cOFph-YtUMk1JO6pUoSXECU0JuT2VUXoLDsiC95zC084Ch%5F-e20tM4EatNGucF419kFd0XlfQzZqNOnlLKLWWDA4NH%5F4o4VBvlj%5Fzbd0AjGjPkHcbB7KKiFC4O1ZWt7UKL9ETmSd%5Fry%5Fvl0%5FdLj-Rus/4pm/igw96mIVSKWfvUIe29sOXA/h18/h001.G5sponE5-0DsGL4ee4gRtMNvAXcn%5FDsuBVkQRgXs%5Fek) 

![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/d5ba549d-35a9-488c-8a03-12e9467b37b5/previous_poll_results.png?t=1770118121) ![poll results](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/8d7b0897-7a99-46c4-bb6f-363609c4e327/Screenshot_2026-04-08_at_6.37.09_PM.png?t=1775653658) ![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/3cf85a04-c5b5-4128-9b13-b3fdfa37d63f/OPSEC_FEATURE_ARTICLE.png?t=1770971707) 

# [Assume Your Stack Will Fail: An OPSEC Audit for the Year AI Started Writing Exploits](https://link.mail.beehiiv.com/ss/c/u001.2pHcgGmPXAeaBA4HeDJFAXeYRVXtsEV7nbmZt3YevDBNiOXHYbSyeCNZxyl5rUfE27ftkZr-dJUcBQ11zXtw3peXGbw8D9h-dREGl9dMFpx1pDKQP0xR5B4Z3hbQ%5FGliUzq4Z9rL1waIAdi4DZLkXjUFxZrYGh%5FojgW5mf57zbyXVtI%5FMPuWLTNVixjwiBwEuZ95q98wfQMWyu%5FhW15ACVMUU6RPOozMdd2LANI5346s-wBHJTgq-WBqp5dOBMHrAq10biHFd%5FNpgX5y8hFnms8fqZs6D7Myyr6CwwT5%5F9gi65-npY3qw2h3WK%5FtjAbBXF9BCHYMXWOFeNLC%5FxTjZK3nPazJiZb31dJqqLynCXgRNCDsD6gn0QtcO1yY8jhiBOobgUOXZWwJJxJjVfMltJAGcMxKWKwQ58Q6fpgg0ulq1%5FnJSzqzoAKZAQ0XbNcshteMp63P3HeEpNxSo8EPtxlQgbtqV5ovaZVNhqUZCqTz8n%5FkwR52GLKiB5%5FhDGrSfX%5FVonSci5Flx2zC2qMT-0Ciadkl7Syg0ZUZUN0KOv5Sx%5FzaSLIlcfPFI6uW85q5wx0Vwv0s8xlaibgFqJn0dTKeYSSn32f-cbEU%5FXmf88I6HBSArvtsibrnBBKpqgXCLlDdlWOe2H7vtpz8QQYpqM65yidD1vaeNxGzyTSv4ksd%5FT4bHQp4K0yuI9dVVl3z0ocAE8ehmMbOjWvULrtfjvv0p%5FQE2a1896kCVA57xQerHXlERCKMMQkQNEzIQx2-qOSuHRmJBe38RZ0RQuvLOjQwXKqMS2nSpAjeINVajiOuxPlbBFwI4sq2JSnNzkjCkKR7A5RnIwbMbf6eAuu1haeiifmtfmIIe0e7LR%5FmX5k/4pm/igw96mIVSKWfvUIe29sOXA/h19/h001.jqDbx1T9MZ9NfaHw9D1WDZD1v2cloIqKc3ySl2RwBT8)

[![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/af94527e-0e2c-4f5e-be0c-97524c5edab8/Robotic_Hand_and_Keyboard.png?t=1775653872)](https://link.mail.beehiiv.com/ss/c/u001.2pHcgGmPXAeaBA4HeDJFAXeYRVXtsEV7nbmZt3YevDBNiOXHYbSyeCNZxyl5rUfE27ftkZr-dJUcBQ11zXtw3peXGbw8D9h-dREGl9dMFpx1pDKQP0xR5B4Z3hbQ%5FGliUzq4Z9rL1waIAdi4DZLkXjUFxZrYGh%5FojgW5mf57zbyXVtI%5FMPuWLTNVixjwiBwEuZ95q98wfQMWyu%5FhW15ACVMUU6RPOozMdd2LANI5346s-wBHJTgq-WBqp5dOBMHrAq10biHFd%5FNpgX5y8hFnms8fqZs6D7Myyr6CwwT5%5F9gNABBYv4DpDbWs6r8LsTpwIGU02aXyPkWvzfbsqFW8Pz2q7cWJyifjO8F7ItMF6HfIUVdD1Maj-Say9pPOOaGtsD44jzl2v%5FVaIUUEGNEi13GprgL-1LNJOWtX4eWUmcQ2ngdfWOHUmJ01fPga1BuYB23uLRwsXamAsatpUMDuyEpMrPFdoYpVe29-0hWg4dwVn9apjkUTqlq6YHTxn-PS%5FKC63f2X3lg15TbrkjVYTJkEgMK7R42smaVIuZ5JtMwOk7oXWL1SHYz2B6zlYdKPm9wgxHy8R3G41gLH1z5XmktWALcE549d0jwfPmOF7jUljUQ4LdU%5F-bQJeKqcDf%5FcDpOIN7W2aPUi7T%5F%5FWC1sQdAOxHO%5FA8W2KLqgaAvU8GRRhFFc9ICi4e4It5hGf3kYdL3fVjDPR7xYF9p-jPvJK3nV5BsIAi0anvuF45DA-rQXRzSB0pwbCcrXMdBUGly8D9HNDzbJBw0uT7eWEF1gI7EtWMWgUaxOdKnsca8%5FFgXqsBS-1lxpxcFodBx6EV3uGJXXbYE-3ztFdbxiCDuQ-3KLSEaoErdZmHVhVxleBzo/4pm/igw96mIVSKWfvUIe29sOXA/h20/h001.oicB0-ultklaJxyo9sQThqEPUZrDSaMWBLgChiyx4S4) 

Ledger's chief technology officer warned CoinDesk this week that AI has collapsed the cost of finding software vulnerabilities to near zero, just as attackers drained Drift Protocol of $285 million through a six-month social engineering operation and DefiLlama tallied $1.4 billion drained from DeFi protocols over the past twelve months.

This week's [OPSEC Feature Article](https://link.mail.beehiiv.com/ss/c/u001.2pHcgGmPXAeaBA4HeDJFAXeYRVXtsEV7nbmZt3YevDBNiOXHYbSyeCNZxyl5rUfE27ftkZr-dJUcBQ11zXtw3peXGbw8D9h-dREGl9dMFpx1pDKQP0xR5B4Z3hbQ%5FGliUzq4Z9rL1waIAdi4DZLkXjUFxZrYGh%5FojgW5mf57zbyXVtI%5FMPuWLTNVixjwiBwEuZ95q98wfQMWyu%5FhW15ACVMUU6RPOozMdd2LANI5346s-wBHJTgq-WBqp5dOBMHrAq10biHFd%5FNpgX5y8hFnms8fqZs6D7Myyr6CwwT5%5F9gvm0g0P4xO8XTVCvLDss4luTDZzuR%5FFjCgCPXS7iKzSZ%5FFNmVatcOCoCcCQT4%5FrntDEItLG4tASRAD5Q-04KJKBdRHpKoOFDklZZBAZDQuOcStQlBnF6OE43AQnVyYIXuWsFnWIlAVaBPl-L8D34R0bBBzwA7j%5FWciA1TWUBsLM5O7ASF1FSMwVhcKdmYsiq6YpcAGASFqNhdOId3SGzq-VF3xQ0qy9URSuFnUP1mzVUl6HMttDIPmhnaApDj4CcwIaQrefV8piArpIxhggILyhK--oEpYwUp9wSw2RvjY1uvrw9zFx3LzOi%5Fh1WXqHdhMRkK3N-O8dsVgvCkQGpTVhXgvQqXNknN5%5FTP6S2tVFA9v%5F2KG4%5FXgnJ94Aei8E82mpG7lQ6dlq%5FvBqndeKbdm3z3dEj2JXQYIE8Wtm2O9mEdSj9pVl9v2akUk8eUgswfG3pvRqFg0at7atV2CNSUQL3m7VxAX83g0FqeZHyJfN2RfQwMdhQplV1I8n62CpSTFjo8b-V9x6zNWcuB9K424UlXaeTc6rcWhFixF3meu-h2TDV3Yqy55PWXhjBKxHKk/4pm/igw96mIVSKWfvUIe29sOXA/h21/h001.%5FxLROb1XRaqMbQFggN5Ve%5FEOGKg8%5FIqCsOQmZkORXSY) shows you how to shrink and cold-storage your Bitcoin stack before AI-assisted scanners find the surface you forgot was running.

Get instant access to this special feature by becoming a premium supporter [here](https://link.mail.beehiiv.com/ss/c/u001.2pHcgGmPXAeaBA4HeDJFAXeYRVXtsEV7nbmZt3YevDBqZLYA16FxlBjlT96ywYmND%5FlOx5yrEaHAO5xQGG6dt9wwD6l-AQZcHj0CvvztZmfw72WI41kU3eNpITaD8l145qAx1i5RmmDHNA5Ru6SgX5UglatYySQFmnK0c%5Fq4obBxXeMX1Aei-cHS76dhF02Poox4yo73br1TduScMbLbA8fWSnWc6KCPmWzyP8Eeiqtwnzsmq1TJ3XT0EjMSVyw8w%5F%5FeTGGXoVC3bRLQtwja508xjGvgPJ9Tcf68PDaabNJk-e4EhMBjMQkaJ0VlCdFYM43A37zRSanGmEh-PGlBp1BFUvvS81Z0e8mOAuPDoCZxUZYq%5FO-HwZS8KRKnK6W9G27DFWiFOCjNBhg211fXdrvc2rEyXXL1s8bUdluGm9OR8aCoRVsGyay0ZhTGVynSyPDqlXhrOCHNBAvfA4xHSAo4t1MQOG3%5Fvui3rY1b0Te9kbX7G1sYQXcT1Jn2PNy3DOiOT-c0DVTeIkUZsXD%5FKn3%5Fpac04Z9DBD6QG0ESEfzRuwAqClh6NVjun3OVUmyhhVXly1666Or2Mj6G9NEUuGe9viKCxz5apmIhZssrcAfOyAqQ7nc-c3pxPhYg6air%5FG-gO4ue8elrRzcbHUaHkr1yxh4GyYRjSgnqK7cLP1egEQF3OvuUTiJOQmfPzZ4u9ZQW7OvVETT-LDN6I%5FcPLRiTi6gNeso0CCv08CMjaTz9dV65S-b3meSq-M4vGf4znJVKvoMUigZ87E0KjHLy44JUW%5FPuI-VnGvX4z2AolTUF01t9LXOoKJN0lXimNj6d4lYBsBBUJ-a2I9bhuWekea7YGkF8-sALaXj547pxLTsJ-cubfjHI2-FlmKFBg5m9/4pm/igw96mIVSKWfvUIe29sOXA/h22/h001.%5FvjvtxeK6b8iMCoSC0w4GYXzmPD1t7lhaVdjNvF%5F5WM).

![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/dd26c75a-116a-4c31-b065-bd33aeacea77/QUICK_BITS.png?t=1770984988) 

* **Georgia's** National Energy and Water Supply Regulatory Commission [reports](https://link.mail.beehiiv.com/ss/c/u001.B5kSFgqpNdMSV68xZcV-EDX2PfbzFEpxuo4Qj3pRSGNXxq9TLDilivc-XjwkCQpFMEKtF4Fox75YTs4TZ3iJAjKIQjEIdVBXEE8ZDCaCPMWkVF-VQChbR3JzIHZt-lOKywNV6ur%5FORNCOBfj6du7AtlCL65%5Fx%5FwKc5xA36CbyAzZlqZbTxnZz19na09zJQjHjVR7zZLpKFFdIBQARdlgHFkRpbXfogAHTKgNXSZgyVIrotmhAQnrJZUBCNi0Eh-Uf1eTS5L32Rr5-FsAzxoJL7lD6B1Ea0ZzJpmMiG-rxhERZcKBlDrnIm6PTrNLud%5FsL2W1Z9vGg3IHi0DCLXRTepJBanpvzD7Z2SA-pRLsXMDmogtiz-4AuynmgzOQRKPH/4pm/igw96mIVSKWfvUIe29sOXA/h23/h001.rgegEwbhC8B5r1CzHsb62mNtgYZD5DpDLejCdUN9hss) that bitcoin mining consumed 752M kWh in 2025, roughly 5% of the country's total electricity, tripling year-over-year.
* **Devs & researchers** [warn](https://link.mail.beehiiv.com/ss/c/u001.jvFH%5F%5FUHVsBzdSKvmG0O0Z4xuG95HWgLcI4ioBISK0%5FGgzS9BsP1KFuGl2lnCCoHIUgrt6Zr6rxjXlDPGg%5FvGXUXUG6D3zJyX1OejPVY-doYWNQvIRu9DaTS5VRn%5FB-iDImwF%5F6oZG0h1czUFu8RX95ax%5Fb1HcLeM0gqD1uv5pd1Qjbjs7no1DOQnXQRqyRA3ueYpQTdw-7q9FaZlsIc5e0MJPd19QSxCTCMesSNVOVZqAO6FslVf-70-Xz2uRVpB-RtwcIykoMJjPCZE1blFltrWvynTk5JexcMgg4kf%5FKqvmIYhGhTVfnexoXsgpukiNF0MQ-pg49veMgINiv0z-hTZoDzP0ppS1l3VWS6VlYyP2ECuVa-QmYKLvmgLGuogr3YAWw%5F1rVpoNvHfZscOw/4pm/igw96mIVSKWfvUIe29sOXA/h24/h001.abT80WATLHKrbn186EyPujeaFHeDPrBy7knANSdRJSQ) that rushed changes to Bitcoin's signature schemes could introduce new security risks before quantum computers pose any real threat or even exist.
* **MoneyBadger**, a South African Bitcoin payment processor, [bridges](https://link.mail.beehiiv.com/ss/c/u001.jvFH%5F%5FUHVsBzdSKvmG0O0TjDAiUovqPaI6omLhRbUNPRU1ovmjxDFRnoFunPyHnGngABZ9lT2fwpLvZQ6h44nDRYxWRC-%5FWv7s3Mj-tSQEDNGtFEDHdkM2c8jvucASOwhCHSY3oPMYepSIsySCjqS8rDjEvbk%5FbgPHa0rpsrBELOXA%5FLC6A-7ZeQg6Js83drjyC3fzGQ1p%5FTLZodJNVw8Gl2MqyCGgrdN7G37dLYVEr3cZVpzfddRfFqEGcpGWv7gCzKx-0pEh4AD2ue-4j1EmW378RHJxZnNOso2%5F1HtaCf9V3gdYMvqGDaHhu0R5uziUo8RA1ILJ03YWFQAclfxJ4clIpReUtzVKXCCLoQxxRyKnYugsL94ts%5F4I3Es%5FBqKj05QoUJkeUoJ7xev18xyv%5F9xu8Zrp0yz-fUdeLB9n8lTvqrKDLoeBzXmn3VvYC2/4pm/igw96mIVSKWfvUIe29sOXA/h25/h001.6hBHWZaMT0Ki0jfXAoTBMhwuAgatDM130sh23WR7q3A) the Lightning Network with existing 'Scan to Pay' QR infrastructure, letting Engen fuel station customers pay in bitcoin while merchants automatically receive South African rand.
* **Strive**, a publicly traded firm building a Bitcoin treasury strategy, [acquires](https://link.mail.beehiiv.com/ss/c/u001.jvFH%5F%5FUHVsBzdSKvmG0O0RefTaPEELWqjEKFcrdJDWqrl9s5Mh7%5FFEM6VvjzFTRGBCCenSA3Q0A4LuW6ZfeuyACSxR6oLOaPEjk9La2DTIDZoghZIluRN3eK62FUAnYswXTUfbfzjyFubcMtsdw%5FydwV2iioApnE3AXT4ocq7p6zYpLmN7Wzb9mBdXo2iNCwni6EpFVa%5FAf82pbBIVEBn46%5FQCpi0mFgtH%5FjO2I9jp0DiCIcox4OEkqbAedN2eKWgaM5yq3njwctzaPUpEGwe1oxWbkPJemives%5FLvtnyHjkwmFkN-0zqwtyowIB3lruyQ7HaaVptE4kOgyTQ0r8RnKPs1YKd-gnlSnYKMjk7jY/4pm/igw96mIVSKWfvUIe29sOXA/h26/h001.avBesIqIN8cCikH3YNpKoWuM9LouWI3hjUzu83ZhDzQ) 113 BTC for $7.75M, bringing total holdings to 13,741 BTC.
* **Rwanda's** central bank [warns](https://link.mail.beehiiv.com/ss/c/u001.n-XHac9lTznLn6EY%5FCi-f%5FyoD%5Fnb05tX99kklEKWVomOywJpFhHUHCRgaoKwOH-dOc3w7SD7TbsLYxwyyVQrTzRKtw8C6GhoNgCDVDQKkgmEfvThT6xyM6Fnsla5iViFJvuH-t-8AHXe4zlT75muGpBpQltAhjtYn7mAgje%5FJvtKySD2W%5Fk3Iv3-PJQTD7wTGplnelAVyldoyPL2143ofbbxMnnjFobvEAXFeE31S%5F1amLS26U48m4spuc8DJbch3rs8ebrzHmkF2Nar6dMgqmOyp27WcuB20JJhnp-XYYl2iYjF4Nb5X22vjtHV2I9i3DJbKP89GuSw7Ub1q8Ryqy5kzmEgE7POmoBsi59HF%5FY/4pm/igw96mIVSKWfvUIe29sOXA/h27/h001.gkVrvMV-rFRJVYfHcGQgsUN5Qmf-EWrA5tjgdxN4gUo) the public that Bitcoin and crypto-assets are not authorized for payments, franc conversion, or peer-to-peer trading after exchange Bybit added local currency support to its p2p platform.
* **Bitfinex**, a major Bitcoin and crypto exchange and derivatives platform, [warns](https://link.mail.beehiiv.com/ss/c/u001.B5kSFgqpNdMSV68xZcV-EJUcfrqw54B%5FoZ68IfxqF1AI7Mmlj5hBZTxWwBlQxW0QBeQcP00kr1gh8hkDB4eC-6%5Fl1lxSDISHYZgN4KJoLJVox0d-QA-aVJV6LITVSEk5DlOHGC4Rqisktgv6ndxl2uQ5i7IsvxlgXH6TCrHac-J5xhvT6vDeH0t9ZLqk8tpOo3Ly5EZ3BeAq9yn-UigF7iddGyaPwLM%5FfRSmUvo5QkwByxVgRmr9eH8v7mfgfGSDO4Hv3-eP3uw0zZjUbwtIRk6x19T2M71v0ZbVhlrjrMUBus-amwQZpgJyV-lSp3fA/4pm/igw96mIVSKWfvUIe29sOXA/h28/h001.fGnBZ1Idl6ipmY1Ro4N8TpZEY1bZYwoR1AXL6iz3qxk) that Bitcoin's options market signals growing downside risk.
* **Cardone Capital**, real estate investment firm led by entrepreneur Grant Cardone, now [accepts](https://link.mail.beehiiv.com/ss/c/u001.Y6tYYbvx1ckIkgtYJbqvrZJa4kNj-3VENKeh4q9hCsxWHMCKPV5EZLRbiv-DQpIxpH4hUX7BY0kbyWRhlGUaHRSsucRZReKzAJfhsEyb4ognM9Ct5oAK6OXBStI8N6IWi0p8pUK2PlharbIKmdhuaXzwGzgrLvxL1nTHCtl%5F3P3hoJ44ktGaabWvUSStwmmwPBvmGjrutj9L-Ez2bGBtZGAD49H%5FCCCsXjobiz6oGi611ivqUNQs50KNyFDhDjvB11bkOSRCm3SClIsnfTcU1jyH3YJuIddwo-EVKAsOyPrDv%5FhLRyzKjr8EEWDVa5LZsIKb8xBmtOx4SqGGSOnpcytSK8yWYmggj17I%5Fs4rTZtAxGd4L4WXDas5yz%5FCBg6Dp7FnzI1eWv8j9LbaCIqasg/4pm/igw96mIVSKWfvUIe29sOXA/h29/h001.dzNJTGIz9Ctx-WAsZpHIqz3xLH7%5FrZ7G8LpLDNywG5c) BTC for investments as it pursues a goal of holding 10,000 BTC across hybrid real estate-bitcoin funds.
* **Bitcoin Well**, a Canada-listed non-custodial bitcoin services company, [reports](https://link.mail.beehiiv.com/ss/c/u001.rhZRLQ7XstPWwlTZta0zqv6IvhvNcBle4BXVf9BC68xy3fsWcWZ9IC72xoDhXL5XVLi-qLZSEyHgXZ9%5Fi1htbSfl86C70UUukNWt4nqW-MAq5pHA-u84TQIOUT3BSSOZ9ROHv4t2Ka%5FRRC89llrtZc55%5Fj0h-Tcn8fMb2-YiloaADwlaTxOMcepatZVSF6lOBmhiVaTvzMmdTvm9zKSDcw7GZPrxxr4r53Zt81DxWpBb8L0ypUyiNtIlymOIi-EeUdZK5lNuKG2meRz71WBZVk9cEQ9ODgmRF1UBmHgziIm3LH1HlI4Q7y7Jvjh7rdf-2IzUdFvridaQIoFuajc36LBuQBD-ctAmMeKoaTYEL4zUDXzdD7e%5F1wTL60s%5F5x0p/4pm/igw96mIVSKWfvUIe29sOXA/h30/h001.YCKlMrp64qfLAK7p94DqCYf-aBzRIQObxQKsvkG9STY) over USD $9M in US transaction volume and registered user count nearly doubling from 11,000 to over 20,000\.
* **Oobit survey** of 1,004 workers [reveals](https://link.mail.beehiiv.com/ss/c/u001.jvFH%5F%5FUHVsBzdSKvmG0O0RefTaPEELWqjEKFcrdJDWpFwiIVbGlHHqSRHiokCXEHv57-6PHt%5F6FwPbUtmM6SapH5Ve8-FYkm781AM5i629nhbqHP1fHD56qMCWEBzMboK-RsPhkeaVltD6c1%5FwvPiWzhLbSYtOH-QrmMx1WgyhTDwLK7%5Fp8qxR2wxwD1Fxaa2SOHHWE1ywa2Vcr%5FXoRb5NGD3aODLH5JguR97Ze48dm8bcd440QTEKfJXnJ7xgfmG1gXFTqEX3ARfzVMpZC%5FSJwvM0SdQbLumHKXAzRMbWk3iHGy3RU56pnJAppwKt6ycX5WjHiyQRhNlLilFHmETRSENPI-MvnKw6d-n4U2zLDGwhr-ZcatVAavUNeRee2qla5ijX4l1SMK5uy%5FSd3NP2sj3qP-N7XSb-bu3KrmYu4/4pm/igw96mIVSKWfvUIe29sOXA/h31/h001.8z5KwB9Lb5jRvw2amL2I8nuR5Uxz2F2g4wkkFaOoujQ) surging demand for Bitcoin and crypto payroll, with 43% open to partial bitcoin pay, yet only few employers currently offer the option.
* **MarketWise survey** of 1,000 US investors [finds](https://link.mail.beehiiv.com/ss/c/u001.jvFH%5F%5FUHVsBzdSKvmG0O0RefTaPEELWqjEKFcrdJDWp5jXvJuisUVkc88umD7nIRa4iCCkQGqs%5FQzf6l9deLplMIEhQrpgP4ZuTGbz0wwD9RKhVVJK6iu3klKDauB9UmuWzRNSCUyog5G-uWtihfM-gHJorxq22JgC9NxL1QHvqCUZ2gT68hTOIuwqgv57bQr%5FV3pVlLavAkYM3rJy-C0k84sZBoZIgFs1sPHzu-P8GTUA6JTNhyux1ea7H9byNtUzqJaAPaVjBFN5VFCgm%5Fx0xkQKaT-HG7cuCSZc3M0Yl9YcykUSa99vJsfWORWN6IOlr6EshZ7aFe5GnZinoXIiprljrET1xbzqEcZYU6BWydbp1ZwJtVdEfH-DeKSZds/4pm/igw96mIVSKWfvUIe29sOXA/h32/h001.4oszawTX9l5gYNeaxZqRM76Qo%5FshpWyPg4SxobV-kMU) that 18% sold Bitcoin and crypto to buy gold over volatility concerns, while 60% trust gold over bitcoin in a financial emergency.
* **Bitcoin's** stochastic relative strength index (RSI) is nearly perfectly [mirroring](https://link.mail.beehiiv.com/ss/c/u001.nv6t2gGTdnD5mCDFKP94LIUW1wdDHwXGTOBUtHJbA3Skq2uoYgICt1MW4h9MXz%5FGLaCrC%5FuPFiMXmdwI1PA9XHUWu7p1XlM4VYwRR4otBVb8bZb1v6peIqA-nSSwPtPjAKOKZeQbQPSHjtsdgK%5Fx1Ncsv9KjKseXNKM0FFYpsEJjZV7kymXpOVwSnWq7%5F6pxxoTXFowHmsJLCh4kp5RhmieS0-AiyTEAUndtSLPJmQyhbIki81CYCjd2WG68-DWJKdgBbynrFOoDBTX-NQgwsWd59sq6sI683Jzcdf-X9W6kR%5FjlT5zMWsBB9fwNgLK5UBDVzak9aShN%5Fcdna1qfspnds0G7kGriF58nAU97q29lW19imfCVv3yyZAl2CsI%5FE9t%5Fdg9QvbiC-Ywi9eiXqw/4pm/igw96mIVSKWfvUIe29sOXA/h33/h001.FrThTu1N6LU26jCSq3kCjL0k0L9bb1BZWjzXjOjAXfA) late 2022 bear market conditions, signaling a potential price rebound, according to trader Quantum Ascend.
* **SEC Chair Paul Atkins** [advances](https://link.mail.beehiiv.com/ss/c/u001.2pHcgGmPXAeaBA4HeDJFAa7NEIGNNfWJPskQK5a53WzNqC5OOChgUKNRmKHbqXQubQ1VDNJwvJIZvoXw5MJ%5FDfWCizKfGLjEb8sDWl83fFqNyOS5DCutzyZU%5FBzCli46u9sGnjkexx3-ipmXeoCS2nqX6Uq%5Fe443s8c6VjTRXYYNLp3l%5FwIzPyL40OEyH-nX9-5GV-DUB%5FNhEoVlZNHqOFD3ypDFDN0fa1%5FNV9GWCrIY3qF3x4hB77ORx0jZcN%5FxhtZa%5FncUrTIujF5HwLLKgpJfgq6%5FIsIPnOWGUBSiP%5FeevE32YDbVwYXsU73MpIr9DZCBECc9d0QLK1EaICPJctKC7XOj%5Fvna%5F9PXhhIWt-dezeui1qITDfmNv3Se2EC-tUzNWqKqX5FqWAQPUfk279y%5F60k9RxBcczcR18xiemw/4pm/igw96mIVSKWfvUIe29sOXA/h34/h001.qJ10YHeWggRx6p0PsITaZwYxjt-3sGiqV5o77l9ay-k) a crypto safe harbor proposal to White House review, aiming to let projects raise capital before registering as securities.
* **Morgan Stanley's** new spot Bitcoin exchange-traded fund, with the industry's lowest 0.14% fee, [gives](https://link.mail.beehiiv.com/ss/c/u001.x9mVU11KfpIpI0BO8qZAhZZ7j2Y7yY8nFJjICC3vU9g5mrAq0GTrhyx9ZMLkG7g8C5axV7Qcwjfii6VfeVYXJ-6EpwxWfWGB9EmgCr49NH7%5Fq9tnma%5FHlqeV6cUZ7SU7xdw3l8ZfgDNIVM2grKrmB8aFIg%5F8TxSTbUqGUYMjmksdw6M2xoYbyvKpw4TmrgOgBYpzxJ6W16NRQ1e3D7wChy2iMSgLC08r2nBNr6PAFMTHzTIeZTTPgl1uWl95wq4JkmcLzyKxEs3L2KNs3Ho-U-E0nWJRDwSr%5F6isuRHirtniPLR5Abb%5FGZovdBbCCh%5FNS4VQu%5FnsWjQCk7xpvTYLE-msdye8n8cUzOF1KpbApm-xd-yARb9xj5tkhUb30Sw0J7-d4xQfTwjtOtQycMXTUA/4pm/igw96mIVSKWfvUIe29sOXA/h35/h001.ckAxtfd3sFIWAQQhvwnEpPGOndHCa7J7t2zbDNEwpQI) its 16,000 financial advisors a fiduciary case to recommend it to clients, making it a credible rival to BlackRock's IBIT, says Bloomberg senior ETF analyst Eric Balchunas.
* **Long-term Bitcoin wallets** now [hold](https://link.mail.beehiiv.com/ss/c/u001.nv6t2gGTdnD5mCDFKP94LIUW1wdDHwXGTOBUtHJbA3Skq2uoYgICt1MW4h9MXz%5FGDhzh6-utNvm7VBdrzoO8QU5TGRonXeQTf-ZYRr2wljO7d0%5FYmgXwax3HaPRov7FbFY%5FISSmQbyivoNbxdudZ7ucujijrpNFBUNSzOCN5DC5ZPtgqpi0qkBJ-vIM8W89l9RAxoHiyVyq9f%5FfjD9AZbXj1KoRl4f8kx-b5uKv1cgBRgzdTyvfZFmoSRVr7UB8kcxzZjCEYv1wROyGPpOguRoxmp0LhVbOFXQ-CP9K2f%5FGPm5bLyIfPVe8cW4uw2a1oekHm3s0UURhISxqVLql-PSPhF-DLsDct9sq63RIv6547j96I2RxkAqK9AtqaER8oTFpYCDeHLp3BAljBfUwBNIMFd%5FghnPoy55QLayR8AAQ/4pm/igw96mIVSKWfvUIe29sOXA/h36/h001.lYO8%5FN8XleWSPiQbPJKXTDQD51yxMVubh890WKbUBb8) 4.37M BTC, while the network activity index enters a 'bull phase' for the first time since April 2025, according to data from CryptoQuant.
* **US spot bitcoin exchange-traded funds** [record](https://link.mail.beehiiv.com/ss/c/u001.2pHcgGmPXAeaBA4HeDJFAa7NEIGNNfWJPskQK5a53WyYRJbkz99TLnca4BtDd39ZgbIF3uitUNdhrBVxf4QLhLQnw0NJqugzU4tEz6YJvw2LUfQGW7k9dSWbr2YVRlVaQV6ihrKMK0yaM7UOlsIwQI9ihPyCUTYwtqZVTWdYW6Pvew4o3Nnuea6fIoGcnIR%5F2Pk2k6rS4Zq93wdYZFpdzpvGopdUecGUj7wKF4BazXP5o9DUlxW3ZE210TpWVfrjOKlyFBC9fAMbbgsGbKNBPkx18BG41drC6SAtuH6DT3S6be4WKyJyTwW6akgGBqobnq6CTR-rPrbUi0PbvMNEYDv7%5FJ36m2Qy0BYAo0-Ppb3Pr9OLESWeSrb2oJeXaJLp/4pm/igw96mIVSKWfvUIe29sOXA/h37/h001.xJovdxJmDpNNufbWfi7S89VgXHhat9KH%5FDJkq-78XbU) $471M in single-day net inflows on April 7, their largest since February, led by BlackRock and Fidelity.

![meme](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/381bc28c-a6d4-44ce-8d05-b07365500386/meme_of_the_day.png?t=1770118549) ![meme](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/5b3290df-5c5b-4fbd-a906-a0112a91724e/image.png?t=1775652723) 

## Bitcoin Breakdown
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