Episode 1150 of Bitcoin And . . . is LIVE!
Topics for today:
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https://cointelegraph.com/news/ex-white-house-director-bo-hines-tether-advisor
https://www.coindesk.com/business/2025/08/19/wyoming-state-debuts-u-s-dollar-stablecoin-on-seven-blockchains
https://cointelegraph.com/news/google-largest-shareholder-terawulf-ai-data-center-fluidstack
https://www.theblock.co/post/367383/illinois-passes-two-crypto-bills
https://decrypt.co/335721/ai-agents-taking-over-game-development
https://cointelegraph.com/news/nasdaq-kindlymd-679m-bitcoin-treasury-investment
https://bitcoinnews.com/markets/amdax-1-percent-bitcoin-treasury/
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Topics for today:
- X Now Has LN Tipping
- Bo Hines Goes to Tether
- Wyoming's US Backed Stablecoin Debut
- KindlyMD Actually Buys the Bitcoin
Circle P:
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Today's Articles:
https://bitcoinmagazine.com/press-releases/bitcoin-tipping-is-now-live-on-x-powered-by-bitbit-and-sparkhttps://cointelegraph.com/news/ex-white-house-director-bo-hines-tether-advisor
https://www.coindesk.com/business/2025/08/19/wyoming-state-debuts-u-s-dollar-stablecoin-on-seven-blockchains
https://cointelegraph.com/news/google-largest-shareholder-terawulf-ai-data-center-fluidstack
https://www.theblock.co/post/367383/illinois-passes-two-crypto-bills
https://decrypt.co/335721/ai-agents-taking-over-game-development
https://cointelegraph.com/news/nasdaq-kindlymd-679m-bitcoin-treasury-investment
https://bitcoinnews.com/markets/amdax-1-percent-bitcoin-treasury/
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It is 08:20AM Pacific Daylight Time. It is the August 2025, and this is episode eleven fifty of Bitcoin and apparently Bitcoin tipping is now live on Twitter. Well, or x or something like that. We'll we'll talk about it because this is the place that you come for to find the news that you can use about Bitcoin and more. We're gonna talk about Boehines. We we now know where Boehines has gone. He left the White House as, I don't know, assistant or co crypto czar or whatever he was. And he's gone to another company. And I'm not surprised at the company he went to. And then Wyoming, getting into the stablecoin game. We knew they were gonna do it. It looks like it's happened.
And then everybody's talking about Google taking a very large stake in Terra Wolf, a Bitcoin miner. Who knows, man? I'm not really all that thrilled with what Terra Wolf is doing, but Google's taken a big old stake in them, and people are losing their ever loving minds about it. Illinois, sort of like Wisconsin, is following, the pattern of let's make sure nobody can do anything with a Bitcoin ATM and KYC AML, like everybody under the sun. And then I got, like, an AI news story in game development, you know, for for video games, but it kinda locks in with what I was talking about yesterday where AI agents are embedded in software itself, so maybe I'm not as crazy as I think I am.
Kindly, MD. They they had merged with Nakamoto. Yeah. They've they're in the news again today. And then there's a Dutch firm that looks like they want to build their own Bitcoin treasury. We'll end with that one. Who knows if it's gonna actually happen? I'm starting to see a lot of companies that have said that they're gonna do something with Bitcoin and become a Bitcoin treasury company. It's only when you actually buy the Bitcoin that I care. Otherwise, it's just blowing smoke. So speaking of a bunch of smoke blowing, let's go over here to this one from Bitcoin Magazine. This is actually a press release by Spark themselves.
Bitcoin tipping is now live powered by BitBit and Spark. BitBit, the self custodial social wallet that lets users instantly send and receive Bitcoin directly in their browser, today announced the launch of its X integration, enabling users worldwide to exchange Bitcoin tips on the X platform seamlessly. The payments will be associated with X usernames, allowing anyone to receive them even without a wallet. The integration leverages Spark, the fastest, cheapest, most UX friendly way to build financial apps and launch assets on Bitcoin. Spark is built by LightSpark, providing open, always on payment solutions for the Internet powered by Bitcoin, the only open neutral network for moving value.
Lightspark powers integrations with partners such as Coinbase, Nubank, Bitso, and many more to enable payments on Bitcoin. So quote, at Lightspark, we're working tirelessly to ensure the future of money looks like the open Internet, said David Marcus, Lightspark's cofounder and CEO. Spark is built on Bitcoin because it's the only open neutral network for moving value. By choosing Spark, the BitBit wallet builds on this openness and proves Bitcoin's potential to empower creators in the global X community. While tips have been available on X since 2021, this is the first self custodial tipping solution available to the public.
By leveraging Spark, the fastest, cheapest, and most yeah. Yeah. Yeah. I know, dude. Your suit's because just going on and on and on. The solution eliminates the technical friction and complexity associated with scaling solutions like the Lightning Network, providing users with a seamless and intuitive wallet experience. Tip receivers god. Sounds like like seed oil enjoyers. Tip receivers will have twenty one days to create a wallet to receive the money. Otherwise, a refund transaction will automatically be sent back to the sender. That's kind of a nice feature. Quote, it's very important to meet people where they are rather than assume that they will learn how to use new technologies, said Philippe Servin, founder and CEO of BitBit.
Quote, with over 500,000,000 people already using x and most of the Bitcoin focused conversations happening there, this is the ideal place to integrate Bitcoin payments for the general public. The extension is now live for all Chrome compatible browsers with mobile support and stablecoin integrations coming very soon, and you can install it from the chromewebstore.google.com. And, anyway, I'd give you the whole address. It's not necessary. The URL to this particular, well, press release will be in the show notes for today's show. So just go click it because it'll be the whole URL. Just go down to the show notes, click it. You can scroll to the bottom of this, or this, particular article, and you will find you will actually find the, URL that will take you right to if you wanna install this thing in Chrome.
At least, there's a couple of good things about this. One is is that it is leveraging lightning because you're just this just this thing doesn't work with base layer payments. Tips and the Bitcoin base layer, they just don't mix. And I don't know why everybody is all up in arms about why it should. No. It shouldn't. Bitcoin is for final settlement. You don't you don't really need anything but lightning. If you're just passing a a few cents, you know, a quarter, a couple of dimes, a few bucks, you don't need you don't need anything but lightning. If you wanna close out a channel because it's got, like, $5,000 worth of Bitcoin in it, there you go. There there's there's some final settlement for you, and that's all you need. Otherwise, you can just use Lightning.
And it looks like that's what's going on here. What bugs me is that we just keep associating x with where, quote, unquote, all the Bitcoin conversation is. Man, no. It's not. It I mean, it it's just fake engagement at this point. Is it's it's really bad scene over there. I kinda can't stand to excite. We'll post on it occasionally, like a couple of times a day just to, you know, put the show out there and everything. But if I take a few minutes and I scroll through, it is a completely different animal than what it used to be during the heyday of Bitcoin Twitter. It's really kind of a snooze fest now.
Go to go to Noster. You want some Bitcoin conversation, go to Noster. Zoltan Vardai from Cointelegraph is gonna tell us about Bo Hines and where he's gone off to. Well, he went to Tether. I'm not I'm not surprised, but this story highlights something that I've been wondering about. So ex White House crypto director Beau Hines takes a Tether advisory role. Stablecoin giant Tether hired former White House Crypto Council executive director Beau Hines as its new strategic adviser for digital assets and United States strategy. That's it. That's the important bit right there, signaling a push to expand the world's biggest economy.
Tether, the issuer of USDT stablecoin, appointed Hines to directly engage and coordinate the company's United States strategy and expansion as part of its core focus with immediate effect according to a Tuesday announcement. And Beau Hines previously served in Donald Trump's administration where he worked on initiatives to foster digital asset innovation, set guardrails for stablecoin issuers, and develop collaboration between government and the blockchain industry. In this new role, Boehines will collaborate with Tether's leadership team to execute its United States market entry and cultivate constructive relationships with policymakers and industry stakeholders. I gotta pause because if if you did not understand why it is that I'm talking about The United States and that's that's the singular point that I'm bringing this this whole story to you for, it's because Tether is not in The United States. Not really. I mean, United States citizens are clearly using Tether.
But right now, in a way, Tether's not really allowed in The United States. That's going to change. What I've always said is that beyond my thoughts on what stablecoins and the buying of United States Treasury debt instrumentation and the the exporting of of printed money to the wide, wide world through the use of stablecoins, Beyond that, what I've always said is that Circle is the one that's inside The United States and is gaining traction in Europe. Tether is the rest of the world, the rest of the world as far as stablecoin adoption goes. Now they really haven't gone into Europe because of MICA, and they don't want to because of the way that the MICA regulations work in Europe.
They also haven't really been pushing inside The United States until now. So here's what I think is gonna happen. I think Boehinds is gonna take the front for The United States side of Tether. They're gonna find somebody that's gonna take the European Union side of this whole deal and see if they can't get some kind of favorable issuance over in Europe. But right now, Beau Hines is specifically hired to get Tether into The United States in a much larger push than they've already made. Continuing, Heinz's deep understanding of the legislative process, combined with his passion for practical blockchain adoption, makes him an invaluable asset as Tether enters the biggest market in the world, said Paolo Ardoino, CEO of Tether, adding, quote, Bo's appointment demonstrates our commitment to building a strong United States based presence that spans across multiple sectors, starting with digital assets and expanding to new opportunities, including a deep focus on potential further investments in domestic infrastructure.
Tether Investments has already reinvested almost $5,000,000,000 in The United States economy. Hines' addition aims to reinforce this commitment and alignment to The U. S. Market, the announcement said. Tether is planning to enter The United States with new domestic dollar backed stablecoin, which may launch in late twenty twenty five or early twenty twenty six, depending on progress with US lawmakers. In December, Tether announced a $775,000,000 strategic investment with video sharing platform Rumble, two months after the stablecoin giant invested a $100,000,000 in Latin American agricultural giant, Addic hold on. Addeco Agro, marking its first investment in the agriculture and food sector.
Did I know. Like, you you may have maybe you got distracted by a cat crossing the street. So if you did not realize this, Tethr is in agriculture in Latin America. A $100,000,000 investment in the American Latin American agricultural giant, Adecco Agro. And you you should be asking yourself, why is a stable coin issuer like Tether interested in agriculture? Most of the Bitcoiners I know are interested in agriculture. And I'm not talking know them personally. I talked about people that I follow on Nostr and even people that I follow on X and things like the beef initiative and all that.
There's a lot of people in Bitcoin that are extremely interested in food nutrition, fiat food destroying food nutrition, agriculture in general, carnival diets, keto diets, beef, ranching, you name it. And it would not surprise me if the reason that Tethr is in agriculture at this point is because Paulo Ardoino started out as a hardcore Bitcoiner. Even though he's doing Tether and it's a stablecoin. I know. I get it. He his roots are are are buried deep in the soil of Bitcoin. You can love him or hate him, but he's a Bitcoiner. And it would not surprise me one bit if he wasn't of the mind that Fiat food is crap and that we've lost all nutrition in our food. And maybe, just maybe, he wants to bring the Bitcoin ethos into the agriculture.
So that to me is is the is my gut feeling as to why the hell a stablecoin company like Tether has invested a $100,000,000 in agriculture in Latin America. Anyway, Beau Hines says, quote, I'm thrilled to join Tether at such a pivotal moment to help deliver ecosystem products that will empower American consumers and help revolutionize our nation's financial system. During my time in public service, I witnessed firsthand the transformative potential of stablecoins to modernize payments and increase financial inclusion. Stablecoins are a significant monetary tool for regions with little traditional banking infrastructure, enabling digital transactions without the need for a bank account.
Tether's appointment of Boehines comes less than two weeks after Hines stepped down from his former White House role. Under Hines' leadership, the White House Crypto Council published a comprehensive report proposing regulatory action plans for digital assets in The United States. And then in March, he suggested that The United States Government could revalue its gold holdings. A month later, Hines said the administration was exploring other creative ways to increase its Bitcoin holdings. So the real gist of this is that Tether is making a push into The United States. And if they wait any longer to do that, Circle is going to sew up that entire market.
And Circle is not the stablecoin company that you want having anything to do with, well, anything. Because the people behind Circle were on the wrong side of the New York agreement when it came to Bitcoin, and that agreement caused the split between Bitcoin and what is now Bitcoin Cash, which then further split into Craig Wright's shitcoin, Bitcoin Satoshi Vision. Right? So they the people behind Circle helped cause that rift in the Bitcoin community. They are not to be forgiven, and that shit is not to be forgotten. If I gotta deal with any kind of stablecoin company, I at least want it. I at least want one whose main guy behind it is an actual Bitcoiner. And, again, you can say what you want about Tether.
Palo Ordino has been a high class, deep rooted Bitcoiner for as long as I can remember. And as far as I can tell, he still is. But I know that it's stablecoin. I I get it. I get it. I understand that. Let's go to Wyoming speaking of stablecoin, and and the the real question is, will their stablecoin have to compete directly with Tether after this appointment from Boehines to enter into The US market because Wyoming State has debuted their United States dollar stablecoin on not one, not two, but seven blockchains. Wyoming State has announced on Tuesday the main net launch of its US dollar stablecoin called Frontier Stable Token, f r n t.
The Frontier Stable Token. Okay. Claiming claiming that it is to be the first fully reserved stablecoin in the country issued by a public entity. The mainnet launch of the Frontier StableToken will empower our citizens and businesses with a modern, efficient, and secure means of transacting in the digital age, Mark Gordon, governor of Wyoming and chairman of the Wyoming Stable Token Commission said in a statement, that almost sounds like a conflict of interest. He's not only the governor of Wyoming, but chairman of the Wyoming Stable Token Commission? I don't I don't know, man. That like, my gut feeling says that that's a bad mix, but whatever.
The token has already been deployed on Arbitrum, Avalanche, Base, Ethereum, Optimism, Polygon, and Solana. They've selected every shit chain possible. That's a shame. Blockchain data apparently on the project website shows all of that to be true, and the token is designed to be 2% over collateralized backed by US dollars and short duration US treasuries held in trust. That means three month treasury bills. So the token will be available for the broader public in the coming days on the on Solana through Wyoming domiciled exchange Kraken and Rains Visa integrated card platform on the Avalanche blockchain, according to the press release.
The announcement coincided with the Wyoming Blockchain Symposium conference in Jackson Hole, Wyoming following The United States enacting federal laws with the Genius Act to regulate the fast growing stablecoin sector and issuers. Stablecoins are a $260,000,000,000 class of cryptocurrencies with prices tied directly to external assets like the United States dollar and could become a trillion dollar market in the coming years. Wyoming is known for its forward stance on blocks chain legislation created so hold on, dude. Wyoming, known for its forward stance on blockchain legislation, created the Wyoming Stablecoin Token Commission in 2023 to develop and issue a US dollar backed token and oversee its integration into public finances.
Last month, the state conducted the test transaction for real time government contractor payment on the Avalanche based Hashfire. The Commission is partnered with LayerZero for token issuance, Fireblocks for blockchain infrastructure, Franklin Advisors for reserve management, Inca Digital for open source intelligence, and the network firm for audits and monthly attestations all selected through a procurement process according to the press release. I cannot iterate enough how nervous it makes me that the governor of Wyoming is also the chairman of the very entity that allowed this to happen.
In in my view, that is a that's bad. I and that, of course, it's a gut feeling, And I may be jumping the gun on that, but I just I just don't think that the governor of the state should be sitting on any commission that has anything to do with the state. The governor should just be the damn governor. That's the executive of the state. The governor's job is to execute the will of the people that's brought to him or her by the legislative process of that state. Sitting on a commission, even if it's a county commission, you in in my view is, like, if you're a governor like, let's say you're a governor in Wyoming and you got a ranch because Wyoming is ranch farm and ranch country too.
Let's say you got a ranch and you own the land, so you are in some county in Wyoming. If you're the governor, you should be disallowed from sitting on the county board of county commissioners. Even if it's your county and you have a you are a stakeholder of that county because you own land, if you're the governor, you should be disallowed from sitting on that commission, much less sitting on a commission about Wyoming stablecoins. I don't know, man. There's something there's something about that that really rankles my hide. I I just think it's a conflict of interest. I don't it probably will be just fine. Everybody will you know, everything will end well and nobody's gonna die, but I don't know, man.
I don't know. Speaking of ranching, you know what the best animal fat to buy is? Ghee. And you can get yours at greatghee.com. That's greatghee.com. That's greatghee.com, where you can get handmade small batches of pasture raised cow milk in the Virginia Shenandoah Valley. This which that you it's a process. You get the milk, you make the butter, you take the butter, and you do the following with it. Ghee is clarified butter. And how you make it is by simmering butter to remove the rest of the water, any milk solids, and impurities leaving behind a golden lactose free oil with a nutty flavor and a high smoking temperature of around four eighty five degrees Fahrenheit.
Unlike regular butter, ghee is shelf stable and versatile for cooking, baking, and even skin care. Yes. So that's what ghee is. It's a staple in Indian cooking, but you can use it anywhere that you use butter. And why would you want to use that? Well, it's a, it's shelf stable. But when you when you melt butter and you let it simmer to get out all the water and and bake out all the impurities because they will they'll sort of conglomerate together and then they'll get toasty and turn brown and they'll fall to the bottom and you can filter it all out. So you just get nothing but pure animal fat directly from the cow.
It takes on when he says it takes on a nutty flavor. It depends on the ghee that you're getting. His is like sunshine in a glass jar. It's bright. It's it's it is it's nutty. Yeah. But it's a bright golden color. It is a bright taste. It's like it it fires up your tongue. It it it's it's awesome ghee. When I make my own ghee, I get a little darker. I go for a little bit more mallard reactions. And so my ghee turns into, you know, basically a little darker. So it's got a way more robust, nuttier flavor. But that's just me. I like the darker tones, the more caramel tones. His ghee is shiny bright. Again, it's like sun in glass, and it's absolutely gorgeous. And you can get yours at greatghee.com.
That's greatghee.com. Make sure you use the code Bitcoin, and, Jett lets him know that I made the sale for him. And if he so chooses, he can get me back for the value of what he thinks that sale is for him with Satoshis on the other side. That's the circle p. Circle p is open for business. Now from Cointelegraph and written by Stefan Cotti, Google takes a 14% stake in Bitcoin miner, Terra Wolf, becoming its top shareholder. Ah, you say, Google's getting into Bitcoin. Not so fast. Hold up. Tech giant Google has become the largest shareholder of Terra Wolf, holding 14% of the shares after receiving more stock in exchange for increasing its backstop in the lease deal between the Bitcoin miner and AI infrastructure provider, FluidStack.
TerraWolf disclosed in a shareholder call on Thursday that it inked a ten year colocation lease agreement with FluidStack, and Google is supporting the lease obligations through a financial guarantee known as a backstop and receiving warrants to purchase shares in return. Speaking to Cointelegraph, Carrie Langelas, the chief strategy officer of Terra Wolf, said that Google's backstop in the agreement has now increased to $3,200,000,000 total in return for warrants to purchase over 73,000,000 shares in Terra Wolf, representing a 14% stake in the company.
Langless added that Google's new equity makes it Terra Wolf's larger shareholder, providing a powerful validation from one of the world's leading technology companies and highlighting the strength of our zero carbon infrastructure and the scale of the opportunities ahead. Terawolf said in a statement on Monday that FluidStac exercised an option in the deal to expand at Tera Wolf's Lake Mariner data center campus in New York State with a new purpose built data center due to start operation in the 2026. Langless told Cointelegraph the financial backstop supports FluidStacks' long term lease commitments at Lake Mariner.
If the AI company could not meet its financial obligations, Google would then step in with $3,200,000,000. Quote, this is not a guarantee of Tera Wolf's corporate debt, nor do we have access to those funds, she said, and that's Langless. Quote, the backstop is tied exclusively to contracted AI and high powered compute lease revenues and is unrelated to our Bitcoin mining operations. A growing number of Bitcoin miners have been diversifying income streams by shifting their energy capacity towards AI and high powered computing hosting services after the April 2024 having cut mining rewards to 3.125 Bitcoin, hurting overall profitability.
Langless said in the future, Terra Wolf plans to maintain but not expand, its Bitcoin mining platform at Lake Mariner with a focus on execution, building, hosting, and delivering for our partners and our shareholders. In the near term, and this is a quote, mining generates cash flow and provides a valuable resource to the electrical grid as its flexible load can be rapidly adjusted to support stability and reliability. However, over the medium to long term, the firm sees greater value in transitioning those megawatts to artificial intelligence and high performance compute workloads where long term contracted revenues with blue chip partners such as FluidStack and Google will drive growth and value creation.
In an August 2024 report, asset manager Van Eck estimated that if publicly traded Bitcoin mining companies shifted 20% of their energy capacity to AI and HPC by 2027, they could increase additional yearly profits by nine no. Sorry. $13,900,000,000 over thirteen years. Terra Wolf has projected its agreement with FluidStac to generate $6,700,000,000 in revenue alone, potentially reaching $16,000,000,000 through lease extensions. In the Monday trading session, Terra Wolf stock staged a rally to $10.57, representing a 17% increase over the previous close of $8.97.
However, by the end of the session, the miner share price had settled back to $9.38 and lost a further 1.28% after the bell. Since Terra Wolf first announced its agreement with FluidStac on Thursday, their stock price has registered a more than 72% gain in the past five days. So what's going on here? You're seeing a shift by Bitcoin mining companies to go directly into AI and high performance compute. However, they're still they're spinning the Bitcoin mining story about how good it is for the grid. I'm sorry, but your customers for AI and high performance compute are not really as interested in allowing their compute to be shut down and curtailed when you need to service the electrical grid.
See, that that's what they're saying. So the whole point about these giant Bitcoin miners going into states like Texas was to stabilize the grid. Right? They were they had demand they have demand response activity. So if there's high demand on the grid because it's, I don't know, summer summer temperatures in Texas get pretty hot, everybody's cooling off their office buildings and and stores and and homes and apartments and shit like that. So the grid starts to get you know, really needs the electricity for for domestic and commercial and business use. So it gets basically drawn from the miners that are being shut down.
That's the there's a demand and Bitcoin miners shutting down miners is the response and it allows a lot of electricity to be refunded over to where it's being used more of. Now that's actually really easy to do in ERCOT the main part of the grid there's two grids in Texas like in in Lubbock you're not on ERCOT you're on something else But for the majority of Texas, you are on ERCOT. And it's been it's been a really good ride for ERCOT being able to to manage their grid in this way. But now you've got AI and you've got high performance compute, which on the surface for many people might look like you could just well we'll just shut down part of the AI servers and or the GPU's that are servicing the API and you know, screw that high performance compute.
Nuh-uh. It does not work that way. Now, while you will get you will get an earful of crap by customers from things like Amazon Prime that wanna stream their movies if you try to shut down servers and and, you know, reroute the electricity to something else. Yes. You will immediately. But it's not as if people that are you and I'm not even talking about, like, me using AI. I'm not going to call the mining company saying, hey, what are you doing? Why why'd you shut down AI? My AI is going slow. I'll never know. But midstream, somebody somewhere is going to know that these HPC and AI service centers are curtailing to do demand response, and they're not gonna be fucking happy.
Now Bitcoin miners don't bitch about this because they've got a they've got a completely different deal going on. They sell the electricity that ins they shut down the miners, but they sell the electricity that they've contracted for back to the grid, and they do it at a profit. So they don't they don't care as much. And even if the AI guys and the HPC guys have that same deal, there's gonna be midstream guys that get on the phone that say, I don't give a shit about your deal. We've got customers to service for AI and HPC. You need to turn the machines back on.
It's it it it's not going to be the same, and it's probably going to end in in tears at one point or another. Let's run the numbers. Futures and commodities. West Texas Intermediate Oil down a full point to $62.75. Brent, North Sea is down three quarters to $66.09. Natural gas taking it in the crotch 5.29% to the downside, bringing it to a very unhealthy $2.73 per thousand cubic feet. Gasoline is in the red only slightly to $2.09 a gallon. Shiny metal rocks are having a bad day, and so is Bitcoin for that matter. Gold is down a third of a point to $33.66 in three dimes.
Silver is down one and a half. Platinum is down point seven. Copper down point eight, and palladium down point nine. Ag is, let's see, fully mixed today. Biggest loser looks to be cotton, point 77% to the downside. Biggest winner is coffee, two and a half percent to the upside. Meanwhile, live cattle down point 01%, so sideways, essentially. Lean hogs are up, well, sideways. Feeder cattle, however, are also up, but a full half point there. The Dow is up a tenth of a point. The S and P is down a third, and Nasdaq is down, wow, almost a full point, but the S and P Mini coming in to save the day. It's in the green at a third of a point. And like I said, Bitcoin's struggling today, 113,800.
We are now below a $2,300,000,000,000 market cap. You can only purchase through 34.2 ounces of shiny metal rocks with your one Bitcoin of which there are 19,908,419 and a half of. Average fees per block are kinda low, 0.03, taking the fees on a per block basis. Looks to be about 25 blocks carrying 82,000 unconfirmed transactions waiting to clear at high priority rates of three sats per v byte. Low priority is gonna get you in at one. Mining hash rate remains the same as yesterday, 90 I'm sorry. 90. 965 exahashes per second from its Fed Week, which, remember, it is Fed Week. I warned in yesterday's show entitled its Fed Week that we were going to have a rough week.
I'm born out to be right. We're having another bad day. Housing starts whilst half of the news was good, building permits fell off of a cliff, and it's causing further pressure to be put on Bitcoin. And we're not out of the woods yet. It's only Tuesday, ladies and gentlemen, so be prepared, as I said yesterday, for a rough rough ride. From an in pub whose, name is not resolving, I got 555 sats says boost. Reggie Lecky with a thousand sats says, Reggie Lecky. Reggie Lecky with yet another thousand sats says, Reggie Lecky. And another in pub that is indeterminate says 555 sats.
The signal is high. The noise is low. This is why we listen to the Bitcoin and show. Much appreciated. Thank you, dude. Jubjub with a thousand says live long and huddle. Vulcan salute emoji. Psyduck with seven forty seven says Psyduck. Pies with a hundred 21 says thank you, sir. No thank you. That's the weather report. Welcome to part two of the news that you can use. Danny Park starts us off the block. Illinois governor signs new crypto oversight laws targeting exchanges and ATMs. Illinois governor JB Pritzker passed two new bills into law on Monday that strengthen regulation over crypto.
The first bill, named the Digital Assets and Consumer Protection Act, gives the Department of Financial and Professional Regulation the authority to oversee crypto companies and exchanges. The legislation also requires that crypto companies and exchanges maintain sufficient financial resources, implement robust cybersecurity and anti fraud measures, and provide investment disclosures and customer service standards on par with those in traditional finance service. Another bill, the Digital Asset Kiosk Act, mandates crypto kiosks or ATM operators to register with state regulators and establish live customer service, create anti fraud and compliance policies, and designate a compliance officer and a consumer protection officer. It also requires operators to limit transaction fees to a maximum of 18% and daily transactions to $2,500 for new customers.
Meanwhile, the Democrat governor Democrat governor voiced his criticism of US president Donald Trump, who has been spearheading the country's fundamental shift towards digital finance. Quote, while the Trump administration is letting crypto bros write federal policy, Illinois is implementing common sense protections for investors and consumers at a time when fraudsters continue to evolve and consumer protections are being eroded at the federal level, end quote. According to the FBI, Illinois saw over $272,000,000 worth of losses from crypto fraud. Well, whatever, dude.
It's just more AML KYC, from a state that you would fully expect to really limit the ability of people to exit the system. And that would be, well, the great state of Illinois. AI. We had talked about AI at the with a Tera Wolf thing. Let's let's revisit AI from a different standpoint. Video games. So from and this is decrypt.co. Artificial intelligence agents are taking over game development, and it says, I guess, according to Google. Yeah. It's a Google study. So nearly nine in 10 game developers say they've already built AI agents into their work according to a new Google Cloud survey. These autonomous programs don't just generate images and assets, they are inside the game, reacting to players and reshaping virtual worlds. The survey, conducted in collaboration with the Harris Poll, polled 615 developers across The United States, South Korea, Finland, Norway, and Sweden.
It found that 97% of respondents believe that AI agents, autonomous programs that can act without human input, are already reshaping the industry with most already using them to speed up coding, testing, and localization. For smaller studios, AI is helping level the playing field with 29% saying AI is lowering the barrier to entry and allowing them to compete with larger publishers. Quote, if you're not on the AI bandwagon right now, you're already behind, Kelsey Falter, CEO and cofounder of indie studio Mother Games, told Decrypt, quote, being small means we can adapt faster, bigger studios have legacy code bases, and senior engineers resistant to change.
For us, AI is baked in from day one. In the study, 87% of developers said that they're using AI agents that adapt to players in real time. These agents are being deployed to control non player characters, guide tutorials, and even moderate online communities. In 2023, Call of Duty publisher Activision rolled out ToxMod, an AI powered tool that monitors online chat for toxic and hate speech. Developers say players now expect more dynamic, responsive environments and richer, more reactive worlds with 35% saying AI driven tutorials are speeding up player onboarding.
Matthias Rodriguez, chief chief technology officer at Globant, a tech firm that works with major game studios, said gamers are open to AI when it deepens storytelling or immersion, but wary if it feels like a shortcut. Quote, gamers are a selective audience when it comes to authenticity. Yeah. No shit, dude. But they're also some of the most open to innovation when it enhances the immersion, Rodriguez told Decrypt. Artificial intelligence, he said, is being used as a creative copilot and a productivity multiplier aimed at enhancing, not replacing the creative process.
Falter agreed that the tools can boost productivity, but said the lack of industry standards means mistakes happen quickly. It's still the wild west, she said. A year ago, we saw AI generating soupy code at a faster Still, most developers are betting on AI's long term value. For Falter, the challenge is maintaining human creativity while using AI to unlock new types of gameplay. Quote, we don't use AI to generate artwork or churn out clones, she said. Our models are trained on scripts written by human writers, and our terrain generators have a specific style unique to our game. It's about maintaining creative integrity. So, yes, this is about gaming and AI, which is not really all that much about Bitcoin, but remember what I said about Nostra yesterday.
Embedding AI agents that would be able to rewrite a Nostr client's code to try to route around any kind of closures that were caused by a government entity who decided that they didn't want Nostra or they didn't want your client or whatever. Because I really think it's something that this is something that Alex Gleeson had had met said that that made me really start thinking about the the embedding of AI agents directly into whatever your project is, whether it's a video game or something like what Alex Gleeson does all day long now, vibe coding, is to have a per basically, a a lot of stuff that you do.
Like, instead of using, let's say, Word for Windows, let's say you're a word guy. Just build your own, use Vibe Coding to build your own word processor. And it's just yours. You're the only one that uses it because it's quick and in time, it will become very, very quick and easy to spin that kind of thing up. You need a art program like Photoshop, but you don't really want to pay Adobe. Sorry, Adobe. I'm just going to spin up my own. Does it mean it will be as good? No. Is it possible you could make it better? Yes. Is it possible over time you could make it better than Photoshop? Absolutely. Depends on if you know what if you know what you're doing. But you see what I'm saying?
It's a personal application. It's the it's using AI to build a personal experience, not one that you're going to ship. You ship it to one and one only, and that's yourself. And the same would be true for something like a Nostr client or any kind of Internet based protocol communications. Like, Nostr, just using Nostr to spin up and not or using Nostr, you you spin up a Nostr client that's got an AI embedded in it, and all of a sudden, France decides that they don't like something about your particular client. First of all, if everybody's doing this, you're talking about hundreds of thousands of of Nostra clients, most of which only have really one user and just uses it to tunnel in and connect to the Nostra protocol where they can find everybody else that they wanna find.
Good good luck trying to get all of those away. Yeah. You could you could be France and say, I don't like primal. I'm going to block everything about primal. Oh, okay. Fine. Are you going to block a 100,000 different Nostra clients? Because a lot of us are going and just building our own. It's like completely stripped down versions. And if you do decide that what I've said coming through my client is so terrible that you can block me. What if I've got an AI agent embedded inside that basically just rebuilds the back end so it doesn't look like what you blocked? However, that works. And again, I will admit to my software development naivety.
I am not a software developer, but, again, I go with my gut. And my gut says that rotating phaser frequencies is the best way to get past Borg Shields so that you can kill them and kill them dead. Moving on to David Bailey's Kindly MD, they've kicked off their Bitcoin treasury with a massive $679,000,000 buy, Zoltan Vardai from Cointelegraph. Nasdaq listed health care service provider and Bitcoin treasury firm Kindly MD has acquired $679,000,000 worth of Bitcoin for its corporate reserve. Pausing. The only reason I'm bringing this to you is because they said that they were gonna do it. I've brought you news about KindlyMD twice now.
And both times, they said they were gonna buy Bitcoin. I said we'd have to see, and now it looks like we're actually seeing them acquire 5,744 for approximately $679,000,000 at a weighted average price of a $118,204 per Bitcoin, the company announced on Tuesday. Pausing again to I'm wondering, is it possible? Because there's a cup there's there's I I I'm trying not to bring you all the Treasury news because it's kinda boring, but there's a lot of treasuries out there that are quickly buying Bitcoin, and they've been doing so at around a $119,000 per coin.
Is it possible that while the short sellers that are trying to really screw over people like strategy, are they realizing that their Meta Planet and similar and strategy, they're just out of reach. They're not gonna be able to crush them. But they could crush brand new treasury companies that are buying at these prices. And if they screw them over good enough and keep the price of Bitcoin low enough for long enough, is it possible that they could get some gains on their returns or some returns in the positive level for them by short selling Bitcoin and getting these new treasury companies like this first buy from KindlyMD to get it to a such a suppressed price that even KindlyMD says, oh, shit.
We've waited too long. Screw this. We're going home. It doesn't matter. The purchase was made using private investment and public equity proceeds and reflects KindlyMD's disciplined Bitcoin treasury strategy. The buy marks the company's very first Bitcoin investment since completing its merger with David Bailey's Bitcoin firm, Nakamoto Holdings, last Friday. Kindly MD's purchase is more than 13 times larger than the latest acquisition by Michael Sailor Strategy, which said on Monday that it bought a measly $51,400,000 worth of Bitcoin at an average price of a $119,666.
Still, the 5,769 Bitcoin represents a small fraction of KindlyMD's plan to acquire a full 1,000,000 BTC. The new company's long term mission to acquire a million Bitcoin reflect the belief that Bitcoin will anchor the next era of global finance according to David Bailey. Quote, this acquisition reinforces our conviction in Bitcoin as the ultimate reserve asset for corporations and institutions. End quote. Bailey served as a crypto key or key crypto advisor for president Trump's campaign and was largely credited with the president's favorable Bitcoin shift. And then they go on to talk a little bit about David Bailey's history. We we really don't need it. The important thing here is that they've actually bought physical Bitcoin.
Kindly, MD has done the deal. They've bought the Bitcoin. They said they were gonna buy the Bitcoin, and today, they've announced that they did indeed buy the Bitcoin, which brings me to our last story for the day. Dutch firm Amdex plans a one point or rather a 1% Bitcoin treasury to be listed on Euronext according to Bitcoin news written by Alex Larry. Amsterdam based digital asset service provider Amdex is planning to launch a dedicated Bitcoin treasury company enlisted on Euronext Amsterdam. The new company aims to hold 1% of all Bitcoin in circulation, which is approximately 210,000 BTC and worth more than $24,000,000,000 at current prices.
If successful, AMBTS, which is the ticker symbol, would be one of the largest institutional Bitcoin holders in the world. Amdex, which has been in the digital asset space for five years, is presenting AMBTS as a standalone company with its own governance and compliance framework. The treasury is for institutional and high net worth investors who want to get exposure to Bitcoin through a regulated European structure rather than holding the asset directly, quote, with now over 10% of Bitcoin supply held by corporations, governments, and institutions.
We think the time is right to establish a Bitcoin treasury company with the aim of obtaining a listing on Euronext Amsterdam. This will provide institutional investors with new financial instruments to get exposure to the performance of Bitcoin, said Lukas Wenzing, CEO of Amdex. They will raise first capital from private investors before going to a full public listing, and the proceeds from the early rounds will be used to, quote, make a head start on the Bitcoin accumulation strategy. Amdex has always been a compliance focused digital asset service provider. In 2020, it was the first digital asset firm in The Netherlands to register with the Dutch Central Bank.
Since then, it has expanded into custody trading, staking, and asset management for private, corporate, and institutional clients. In June, the company was one of the first in Europe to receive a license under the new MICA regulation, the EU's framework for the digital asset industry, and this regulatory approval allowed Amdex to propose a fully transparent and regulated Bitcoin treasury company. So they're planning to buy Bitcoin. They haven't done it yet. And again, this is a, yeah, we'll have to wait and see situation. Maybe they will.
Maybe we never hear from Amdek Amdek's again. But I don't see this as I actually don't see this as an issue because there's going to be a lot of companies that I've already told you about that I will never tell you about again because they just simply disappear. Either either they don't do the thing. Maybe the company itself collapses and its collapse is so small it doesn't make the news. Be prepared for many, many, many, many of these like like Amdex. They I we're going to get we're going to get 1% of the Bitcoin circulating supply. We're going to buy 210,000 Bitcoin.
Yeah. Yeah. I'll believe it when I see it. And it's the same thing with Kindly, MD. I was very skeptical that they were gonna do anything at all, and they did. Doesn't you know, they did. It doesn't mean it's good or bad. I'm just saying at least they followed through on what they said they were gonna do. Because I can guarantee you many companies that have said they're gonna buy Bitcoin and become a Bitcoin Treasury company are not going to become a Bitcoin Treasury company and are not actually going to buy any Bitcoin whatsoever.
So just just understand, and I reiterate, This week is gonna be a hard week. It's gonna be a test for your endurance. It's gonna be a test on your fortitude when it comes to Bitcoin. I've already seen two or three people on x during my my brief scrolling sessions. I've seen a couple of people said that they've sold their Bitcoin to pay off their mortgage, all of their Bitcoin, not some Bitcoin. Right. So that is also I mean, and I've seen a lot of it. I'm seeing I've sold some Bitcoin so I can renovate my house. Another person, I've sold all my Bitcoin so that I can pay off my mortgage.
I've seen many such things. But you know what else I'm seeing? When I'm scanning news stories to select which stories I'm going to put in The Daily Show, do you have any idea how much ether is going to kill Bitcoin news I'm seeing? I I don't even talk about it because it's so dumb. But it is it's the the news organizations that I'm pulling these stories from, their front page for the last two weeks and really not before that, not not for a long, long time, not before that, but about two, three weeks ago, I started seeing just more and more stories about how Tom Lee was buying all the Ethereum and how Ethereum was outpacing Bitcoin, and it just goes on and on and on. So it makes me wonder, are some of these people on x saying that they've sold all their Bitcoin somehow or another being influenced by these publications to say these things. I mean, I'm talking straight up is Cointelegraph paying whatever asshole said that they sold all their Bitcoin so that they could buy, you know, pay off their mortgage. Did they pay them to say that?
Is it true? I don't see any pictures of the transaction. I don't see any pictures of the the check that that extinguishes all the debt. All I see is somebody who says, I've sold my Bitcoin to pay off my mortgage. I don't believe you. I don't think that's true. I think you're lying. And I also think that it's very, very possible that in conjunction with all these Ethereum headlines coming out, you're being paid to push the narrative on the opposite end down, and that would be the Bitcoin narrative. Oh, we gotta get out of this. I saw another one today, and it wasn't even about Bitcoin. It was that they sold all their micro strategy stock so that they could get into a brand new Bitcoin Treasury company stock.
It's just I don't know. I'm probably tinfoil hat in here. But honestly, I look at coincidence and I see patterns And I see a pattern. Doesn't mean that I'm 100% right. I'm just saying I see a pattern, and I thought I should say something about it. Now I've said something about it, so I'll see you on the other side. This has been Bitcoin, and and I'm your host, David Bennett. I hope you enjoyed today's episode and hope to see you again real soon. Have a great day.
It is 08:20AM Pacific Daylight Time. It is the August 2025, and this is episode eleven fifty of Bitcoin and apparently Bitcoin tipping is now live on Twitter. Well, or x or something like that. We'll we'll talk about it because this is the place that you come for to find the news that you can use about Bitcoin and more. We're gonna talk about Boehines. We we now know where Boehines has gone. He left the White House as, I don't know, assistant or co crypto czar or whatever he was. And he's gone to another company. And I'm not surprised at the company he went to. And then Wyoming, getting into the stablecoin game. We knew they were gonna do it. It looks like it's happened.
And then everybody's talking about Google taking a very large stake in Terra Wolf, a Bitcoin miner. Who knows, man? I'm not really all that thrilled with what Terra Wolf is doing, but Google's taken a big old stake in them, and people are losing their ever loving minds about it. Illinois, sort of like Wisconsin, is following, the pattern of let's make sure nobody can do anything with a Bitcoin ATM and KYC AML, like everybody under the sun. And then I got, like, an AI news story in game development, you know, for for video games, but it kinda locks in with what I was talking about yesterday where AI agents are embedded in software itself, so maybe I'm not as crazy as I think I am.
Kindly, MD. They they had merged with Nakamoto. Yeah. They've they're in the news again today. And then there's a Dutch firm that looks like they want to build their own Bitcoin treasury. We'll end with that one. Who knows if it's gonna actually happen? I'm starting to see a lot of companies that have said that they're gonna do something with Bitcoin and become a Bitcoin treasury company. It's only when you actually buy the Bitcoin that I care. Otherwise, it's just blowing smoke. So speaking of a bunch of smoke blowing, let's go over here to this one from Bitcoin Magazine. This is actually a press release by Spark themselves.
Bitcoin tipping is now live powered by BitBit and Spark. BitBit, the self custodial social wallet that lets users instantly send and receive Bitcoin directly in their browser, today announced the launch of its X integration, enabling users worldwide to exchange Bitcoin tips on the X platform seamlessly. The payments will be associated with X usernames, allowing anyone to receive them even without a wallet. The integration leverages Spark, the fastest, cheapest, most UX friendly way to build financial apps and launch assets on Bitcoin. Spark is built by LightSpark, providing open, always on payment solutions for the Internet powered by Bitcoin, the only open neutral network for moving value.
Lightspark powers integrations with partners such as Coinbase, Nubank, Bitso, and many more to enable payments on Bitcoin. So quote, at Lightspark, we're working tirelessly to ensure the future of money looks like the open Internet, said David Marcus, Lightspark's cofounder and CEO. Spark is built on Bitcoin because it's the only open neutral network for moving value. By choosing Spark, the BitBit wallet builds on this openness and proves Bitcoin's potential to empower creators in the global X community. While tips have been available on X since 2021, this is the first self custodial tipping solution available to the public.
By leveraging Spark, the fastest, cheapest, and most yeah. Yeah. Yeah. I know, dude. Your suit's because just going on and on and on. The solution eliminates the technical friction and complexity associated with scaling solutions like the Lightning Network, providing users with a seamless and intuitive wallet experience. Tip receivers god. Sounds like like seed oil enjoyers. Tip receivers will have twenty one days to create a wallet to receive the money. Otherwise, a refund transaction will automatically be sent back to the sender. That's kind of a nice feature. Quote, it's very important to meet people where they are rather than assume that they will learn how to use new technologies, said Philippe Servin, founder and CEO of BitBit.
Quote, with over 500,000,000 people already using x and most of the Bitcoin focused conversations happening there, this is the ideal place to integrate Bitcoin payments for the general public. The extension is now live for all Chrome compatible browsers with mobile support and stablecoin integrations coming very soon, and you can install it from the chromewebstore.google.com. And, anyway, I'd give you the whole address. It's not necessary. The URL to this particular, well, press release will be in the show notes for today's show. So just go click it because it'll be the whole URL. Just go down to the show notes, click it. You can scroll to the bottom of this, or this, particular article, and you will find you will actually find the, URL that will take you right to if you wanna install this thing in Chrome.
At least, there's a couple of good things about this. One is is that it is leveraging lightning because you're just this just this thing doesn't work with base layer payments. Tips and the Bitcoin base layer, they just don't mix. And I don't know why everybody is all up in arms about why it should. No. It shouldn't. Bitcoin is for final settlement. You don't you don't really need anything but lightning. If you're just passing a a few cents, you know, a quarter, a couple of dimes, a few bucks, you don't need you don't need anything but lightning. If you wanna close out a channel because it's got, like, $5,000 worth of Bitcoin in it, there you go. There there's there's some final settlement for you, and that's all you need. Otherwise, you can just use Lightning.
And it looks like that's what's going on here. What bugs me is that we just keep associating x with where, quote, unquote, all the Bitcoin conversation is. Man, no. It's not. It I mean, it it's just fake engagement at this point. Is it's it's really bad scene over there. I kinda can't stand to excite. We'll post on it occasionally, like a couple of times a day just to, you know, put the show out there and everything. But if I take a few minutes and I scroll through, it is a completely different animal than what it used to be during the heyday of Bitcoin Twitter. It's really kind of a snooze fest now.
Go to go to Noster. You want some Bitcoin conversation, go to Noster. Zoltan Vardai from Cointelegraph is gonna tell us about Bo Hines and where he's gone off to. Well, he went to Tether. I'm not I'm not surprised, but this story highlights something that I've been wondering about. So ex White House crypto director Beau Hines takes a Tether advisory role. Stablecoin giant Tether hired former White House Crypto Council executive director Beau Hines as its new strategic adviser for digital assets and United States strategy. That's it. That's the important bit right there, signaling a push to expand the world's biggest economy.
Tether, the issuer of USDT stablecoin, appointed Hines to directly engage and coordinate the company's United States strategy and expansion as part of its core focus with immediate effect according to a Tuesday announcement. And Beau Hines previously served in Donald Trump's administration where he worked on initiatives to foster digital asset innovation, set guardrails for stablecoin issuers, and develop collaboration between government and the blockchain industry. In this new role, Boehines will collaborate with Tether's leadership team to execute its United States market entry and cultivate constructive relationships with policymakers and industry stakeholders. I gotta pause because if if you did not understand why it is that I'm talking about The United States and that's that's the singular point that I'm bringing this this whole story to you for, it's because Tether is not in The United States. Not really. I mean, United States citizens are clearly using Tether.
But right now, in a way, Tether's not really allowed in The United States. That's going to change. What I've always said is that beyond my thoughts on what stablecoins and the buying of United States Treasury debt instrumentation and the the exporting of of printed money to the wide, wide world through the use of stablecoins, Beyond that, what I've always said is that Circle is the one that's inside The United States and is gaining traction in Europe. Tether is the rest of the world, the rest of the world as far as stablecoin adoption goes. Now they really haven't gone into Europe because of MICA, and they don't want to because of the way that the MICA regulations work in Europe.
They also haven't really been pushing inside The United States until now. So here's what I think is gonna happen. I think Boehinds is gonna take the front for The United States side of Tether. They're gonna find somebody that's gonna take the European Union side of this whole deal and see if they can't get some kind of favorable issuance over in Europe. But right now, Beau Hines is specifically hired to get Tether into The United States in a much larger push than they've already made. Continuing, Heinz's deep understanding of the legislative process, combined with his passion for practical blockchain adoption, makes him an invaluable asset as Tether enters the biggest market in the world, said Paolo Ardoino, CEO of Tether, adding, quote, Bo's appointment demonstrates our commitment to building a strong United States based presence that spans across multiple sectors, starting with digital assets and expanding to new opportunities, including a deep focus on potential further investments in domestic infrastructure.
Tether Investments has already reinvested almost $5,000,000,000 in The United States economy. Hines' addition aims to reinforce this commitment and alignment to The U. S. Market, the announcement said. Tether is planning to enter The United States with new domestic dollar backed stablecoin, which may launch in late twenty twenty five or early twenty twenty six, depending on progress with US lawmakers. In December, Tether announced a $775,000,000 strategic investment with video sharing platform Rumble, two months after the stablecoin giant invested a $100,000,000 in Latin American agricultural giant, Addic hold on. Addeco Agro, marking its first investment in the agriculture and food sector.
Did I know. Like, you you may have maybe you got distracted by a cat crossing the street. So if you did not realize this, Tethr is in agriculture in Latin America. A $100,000,000 investment in the American Latin American agricultural giant, Adecco Agro. And you you should be asking yourself, why is a stable coin issuer like Tether interested in agriculture? Most of the Bitcoiners I know are interested in agriculture. And I'm not talking know them personally. I talked about people that I follow on Nostr and even people that I follow on X and things like the beef initiative and all that.
There's a lot of people in Bitcoin that are extremely interested in food nutrition, fiat food destroying food nutrition, agriculture in general, carnival diets, keto diets, beef, ranching, you name it. And it would not surprise me if the reason that Tethr is in agriculture at this point is because Paulo Ardoino started out as a hardcore Bitcoiner. Even though he's doing Tether and it's a stablecoin. I know. I get it. He his roots are are are buried deep in the soil of Bitcoin. You can love him or hate him, but he's a Bitcoiner. And it would not surprise me one bit if he wasn't of the mind that Fiat food is crap and that we've lost all nutrition in our food. And maybe, just maybe, he wants to bring the Bitcoin ethos into the agriculture.
So that to me is is the is my gut feeling as to why the hell a stablecoin company like Tether has invested a $100,000,000 in agriculture in Latin America. Anyway, Beau Hines says, quote, I'm thrilled to join Tether at such a pivotal moment to help deliver ecosystem products that will empower American consumers and help revolutionize our nation's financial system. During my time in public service, I witnessed firsthand the transformative potential of stablecoins to modernize payments and increase financial inclusion. Stablecoins are a significant monetary tool for regions with little traditional banking infrastructure, enabling digital transactions without the need for a bank account.
Tether's appointment of Boehines comes less than two weeks after Hines stepped down from his former White House role. Under Hines' leadership, the White House Crypto Council published a comprehensive report proposing regulatory action plans for digital assets in The United States. And then in March, he suggested that The United States Government could revalue its gold holdings. A month later, Hines said the administration was exploring other creative ways to increase its Bitcoin holdings. So the real gist of this is that Tether is making a push into The United States. And if they wait any longer to do that, Circle is going to sew up that entire market.
And Circle is not the stablecoin company that you want having anything to do with, well, anything. Because the people behind Circle were on the wrong side of the New York agreement when it came to Bitcoin, and that agreement caused the split between Bitcoin and what is now Bitcoin Cash, which then further split into Craig Wright's shitcoin, Bitcoin Satoshi Vision. Right? So they the people behind Circle helped cause that rift in the Bitcoin community. They are not to be forgiven, and that shit is not to be forgotten. If I gotta deal with any kind of stablecoin company, I at least want it. I at least want one whose main guy behind it is an actual Bitcoiner. And, again, you can say what you want about Tether.
Palo Ordino has been a high class, deep rooted Bitcoiner for as long as I can remember. And as far as I can tell, he still is. But I know that it's stablecoin. I I get it. I get it. I understand that. Let's go to Wyoming speaking of stablecoin, and and the the real question is, will their stablecoin have to compete directly with Tether after this appointment from Boehines to enter into The US market because Wyoming State has debuted their United States dollar stablecoin on not one, not two, but seven blockchains. Wyoming State has announced on Tuesday the main net launch of its US dollar stablecoin called Frontier Stable Token, f r n t.
The Frontier Stable Token. Okay. Claiming claiming that it is to be the first fully reserved stablecoin in the country issued by a public entity. The mainnet launch of the Frontier StableToken will empower our citizens and businesses with a modern, efficient, and secure means of transacting in the digital age, Mark Gordon, governor of Wyoming and chairman of the Wyoming Stable Token Commission said in a statement, that almost sounds like a conflict of interest. He's not only the governor of Wyoming, but chairman of the Wyoming Stable Token Commission? I don't I don't know, man. That like, my gut feeling says that that's a bad mix, but whatever.
The token has already been deployed on Arbitrum, Avalanche, Base, Ethereum, Optimism, Polygon, and Solana. They've selected every shit chain possible. That's a shame. Blockchain data apparently on the project website shows all of that to be true, and the token is designed to be 2% over collateralized backed by US dollars and short duration US treasuries held in trust. That means three month treasury bills. So the token will be available for the broader public in the coming days on the on Solana through Wyoming domiciled exchange Kraken and Rains Visa integrated card platform on the Avalanche blockchain, according to the press release.
The announcement coincided with the Wyoming Blockchain Symposium conference in Jackson Hole, Wyoming following The United States enacting federal laws with the Genius Act to regulate the fast growing stablecoin sector and issuers. Stablecoins are a $260,000,000,000 class of cryptocurrencies with prices tied directly to external assets like the United States dollar and could become a trillion dollar market in the coming years. Wyoming is known for its forward stance on blocks chain legislation created so hold on, dude. Wyoming, known for its forward stance on blockchain legislation, created the Wyoming Stablecoin Token Commission in 2023 to develop and issue a US dollar backed token and oversee its integration into public finances.
Last month, the state conducted the test transaction for real time government contractor payment on the Avalanche based Hashfire. The Commission is partnered with LayerZero for token issuance, Fireblocks for blockchain infrastructure, Franklin Advisors for reserve management, Inca Digital for open source intelligence, and the network firm for audits and monthly attestations all selected through a procurement process according to the press release. I cannot iterate enough how nervous it makes me that the governor of Wyoming is also the chairman of the very entity that allowed this to happen.
In in my view, that is a that's bad. I and that, of course, it's a gut feeling, And I may be jumping the gun on that, but I just I just don't think that the governor of the state should be sitting on any commission that has anything to do with the state. The governor should just be the damn governor. That's the executive of the state. The governor's job is to execute the will of the people that's brought to him or her by the legislative process of that state. Sitting on a commission, even if it's a county commission, you in in my view is, like, if you're a governor like, let's say you're a governor in Wyoming and you got a ranch because Wyoming is ranch farm and ranch country too.
Let's say you got a ranch and you own the land, so you are in some county in Wyoming. If you're the governor, you should be disallowed from sitting on the county board of county commissioners. Even if it's your county and you have a you are a stakeholder of that county because you own land, if you're the governor, you should be disallowed from sitting on that commission, much less sitting on a commission about Wyoming stablecoins. I don't know, man. There's something there's something about that that really rankles my hide. I I just think it's a conflict of interest. I don't it probably will be just fine. Everybody will you know, everything will end well and nobody's gonna die, but I don't know, man.
I don't know. Speaking of ranching, you know what the best animal fat to buy is? Ghee. And you can get yours at greatghee.com. That's greatghee.com. That's greatghee.com, where you can get handmade small batches of pasture raised cow milk in the Virginia Shenandoah Valley. This which that you it's a process. You get the milk, you make the butter, you take the butter, and you do the following with it. Ghee is clarified butter. And how you make it is by simmering butter to remove the rest of the water, any milk solids, and impurities leaving behind a golden lactose free oil with a nutty flavor and a high smoking temperature of around four eighty five degrees Fahrenheit.
Unlike regular butter, ghee is shelf stable and versatile for cooking, baking, and even skin care. Yes. So that's what ghee is. It's a staple in Indian cooking, but you can use it anywhere that you use butter. And why would you want to use that? Well, it's a, it's shelf stable. But when you when you melt butter and you let it simmer to get out all the water and and bake out all the impurities because they will they'll sort of conglomerate together and then they'll get toasty and turn brown and they'll fall to the bottom and you can filter it all out. So you just get nothing but pure animal fat directly from the cow.
It takes on when he says it takes on a nutty flavor. It depends on the ghee that you're getting. His is like sunshine in a glass jar. It's bright. It's it's it is it's nutty. Yeah. But it's a bright golden color. It is a bright taste. It's like it it fires up your tongue. It it it's it's awesome ghee. When I make my own ghee, I get a little darker. I go for a little bit more mallard reactions. And so my ghee turns into, you know, basically a little darker. So it's got a way more robust, nuttier flavor. But that's just me. I like the darker tones, the more caramel tones. His ghee is shiny bright. Again, it's like sun in glass, and it's absolutely gorgeous. And you can get yours at greatghee.com.
That's greatghee.com. Make sure you use the code Bitcoin, and, Jett lets him know that I made the sale for him. And if he so chooses, he can get me back for the value of what he thinks that sale is for him with Satoshis on the other side. That's the circle p. Circle p is open for business. Now from Cointelegraph and written by Stefan Cotti, Google takes a 14% stake in Bitcoin miner, Terra Wolf, becoming its top shareholder. Ah, you say, Google's getting into Bitcoin. Not so fast. Hold up. Tech giant Google has become the largest shareholder of Terra Wolf, holding 14% of the shares after receiving more stock in exchange for increasing its backstop in the lease deal between the Bitcoin miner and AI infrastructure provider, FluidStack.
TerraWolf disclosed in a shareholder call on Thursday that it inked a ten year colocation lease agreement with FluidStack, and Google is supporting the lease obligations through a financial guarantee known as a backstop and receiving warrants to purchase shares in return. Speaking to Cointelegraph, Carrie Langelas, the chief strategy officer of Terra Wolf, said that Google's backstop in the agreement has now increased to $3,200,000,000 total in return for warrants to purchase over 73,000,000 shares in Terra Wolf, representing a 14% stake in the company.
Langless added that Google's new equity makes it Terra Wolf's larger shareholder, providing a powerful validation from one of the world's leading technology companies and highlighting the strength of our zero carbon infrastructure and the scale of the opportunities ahead. Terawolf said in a statement on Monday that FluidStac exercised an option in the deal to expand at Tera Wolf's Lake Mariner data center campus in New York State with a new purpose built data center due to start operation in the 2026. Langless told Cointelegraph the financial backstop supports FluidStacks' long term lease commitments at Lake Mariner.
If the AI company could not meet its financial obligations, Google would then step in with $3,200,000,000. Quote, this is not a guarantee of Tera Wolf's corporate debt, nor do we have access to those funds, she said, and that's Langless. Quote, the backstop is tied exclusively to contracted AI and high powered compute lease revenues and is unrelated to our Bitcoin mining operations. A growing number of Bitcoin miners have been diversifying income streams by shifting their energy capacity towards AI and high powered computing hosting services after the April 2024 having cut mining rewards to 3.125 Bitcoin, hurting overall profitability.
Langless said in the future, Terra Wolf plans to maintain but not expand, its Bitcoin mining platform at Lake Mariner with a focus on execution, building, hosting, and delivering for our partners and our shareholders. In the near term, and this is a quote, mining generates cash flow and provides a valuable resource to the electrical grid as its flexible load can be rapidly adjusted to support stability and reliability. However, over the medium to long term, the firm sees greater value in transitioning those megawatts to artificial intelligence and high performance compute workloads where long term contracted revenues with blue chip partners such as FluidStack and Google will drive growth and value creation.
In an August 2024 report, asset manager Van Eck estimated that if publicly traded Bitcoin mining companies shifted 20% of their energy capacity to AI and HPC by 2027, they could increase additional yearly profits by nine no. Sorry. $13,900,000,000 over thirteen years. Terra Wolf has projected its agreement with FluidStac to generate $6,700,000,000 in revenue alone, potentially reaching $16,000,000,000 through lease extensions. In the Monday trading session, Terra Wolf stock staged a rally to $10.57, representing a 17% increase over the previous close of $8.97.
However, by the end of the session, the miner share price had settled back to $9.38 and lost a further 1.28% after the bell. Since Terra Wolf first announced its agreement with FluidStac on Thursday, their stock price has registered a more than 72% gain in the past five days. So what's going on here? You're seeing a shift by Bitcoin mining companies to go directly into AI and high performance compute. However, they're still they're spinning the Bitcoin mining story about how good it is for the grid. I'm sorry, but your customers for AI and high performance compute are not really as interested in allowing their compute to be shut down and curtailed when you need to service the electrical grid.
See, that that's what they're saying. So the whole point about these giant Bitcoin miners going into states like Texas was to stabilize the grid. Right? They were they had demand they have demand response activity. So if there's high demand on the grid because it's, I don't know, summer summer temperatures in Texas get pretty hot, everybody's cooling off their office buildings and and stores and and homes and apartments and shit like that. So the grid starts to get you know, really needs the electricity for for domestic and commercial and business use. So it gets basically drawn from the miners that are being shut down.
That's the there's a demand and Bitcoin miners shutting down miners is the response and it allows a lot of electricity to be refunded over to where it's being used more of. Now that's actually really easy to do in ERCOT the main part of the grid there's two grids in Texas like in in Lubbock you're not on ERCOT you're on something else But for the majority of Texas, you are on ERCOT. And it's been it's been a really good ride for ERCOT being able to to manage their grid in this way. But now you've got AI and you've got high performance compute, which on the surface for many people might look like you could just well we'll just shut down part of the AI servers and or the GPU's that are servicing the API and you know, screw that high performance compute.
Nuh-uh. It does not work that way. Now, while you will get you will get an earful of crap by customers from things like Amazon Prime that wanna stream their movies if you try to shut down servers and and, you know, reroute the electricity to something else. Yes. You will immediately. But it's not as if people that are you and I'm not even talking about, like, me using AI. I'm not going to call the mining company saying, hey, what are you doing? Why why'd you shut down AI? My AI is going slow. I'll never know. But midstream, somebody somewhere is going to know that these HPC and AI service centers are curtailing to do demand response, and they're not gonna be fucking happy.
Now Bitcoin miners don't bitch about this because they've got a they've got a completely different deal going on. They sell the electricity that ins they shut down the miners, but they sell the electricity that they've contracted for back to the grid, and they do it at a profit. So they don't they don't care as much. And even if the AI guys and the HPC guys have that same deal, there's gonna be midstream guys that get on the phone that say, I don't give a shit about your deal. We've got customers to service for AI and HPC. You need to turn the machines back on.
It's it it it's not going to be the same, and it's probably going to end in in tears at one point or another. Let's run the numbers. Futures and commodities. West Texas Intermediate Oil down a full point to $62.75. Brent, North Sea is down three quarters to $66.09. Natural gas taking it in the crotch 5.29% to the downside, bringing it to a very unhealthy $2.73 per thousand cubic feet. Gasoline is in the red only slightly to $2.09 a gallon. Shiny metal rocks are having a bad day, and so is Bitcoin for that matter. Gold is down a third of a point to $33.66 in three dimes.
Silver is down one and a half. Platinum is down point seven. Copper down point eight, and palladium down point nine. Ag is, let's see, fully mixed today. Biggest loser looks to be cotton, point 77% to the downside. Biggest winner is coffee, two and a half percent to the upside. Meanwhile, live cattle down point 01%, so sideways, essentially. Lean hogs are up, well, sideways. Feeder cattle, however, are also up, but a full half point there. The Dow is up a tenth of a point. The S and P is down a third, and Nasdaq is down, wow, almost a full point, but the S and P Mini coming in to save the day. It's in the green at a third of a point. And like I said, Bitcoin's struggling today, 113,800.
We are now below a $2,300,000,000,000 market cap. You can only purchase through 34.2 ounces of shiny metal rocks with your one Bitcoin of which there are 19,908,419 and a half of. Average fees per block are kinda low, 0.03, taking the fees on a per block basis. Looks to be about 25 blocks carrying 82,000 unconfirmed transactions waiting to clear at high priority rates of three sats per v byte. Low priority is gonna get you in at one. Mining hash rate remains the same as yesterday, 90 I'm sorry. 90. 965 exahashes per second from its Fed Week, which, remember, it is Fed Week. I warned in yesterday's show entitled its Fed Week that we were going to have a rough week.
I'm born out to be right. We're having another bad day. Housing starts whilst half of the news was good, building permits fell off of a cliff, and it's causing further pressure to be put on Bitcoin. And we're not out of the woods yet. It's only Tuesday, ladies and gentlemen, so be prepared, as I said yesterday, for a rough rough ride. From an in pub whose, name is not resolving, I got 555 sats says boost. Reggie Lecky with a thousand sats says, Reggie Lecky. Reggie Lecky with yet another thousand sats says, Reggie Lecky. And another in pub that is indeterminate says 555 sats.
The signal is high. The noise is low. This is why we listen to the Bitcoin and show. Much appreciated. Thank you, dude. Jubjub with a thousand says live long and huddle. Vulcan salute emoji. Psyduck with seven forty seven says Psyduck. Pies with a hundred 21 says thank you, sir. No thank you. That's the weather report. Welcome to part two of the news that you can use. Danny Park starts us off the block. Illinois governor signs new crypto oversight laws targeting exchanges and ATMs. Illinois governor JB Pritzker passed two new bills into law on Monday that strengthen regulation over crypto.
The first bill, named the Digital Assets and Consumer Protection Act, gives the Department of Financial and Professional Regulation the authority to oversee crypto companies and exchanges. The legislation also requires that crypto companies and exchanges maintain sufficient financial resources, implement robust cybersecurity and anti fraud measures, and provide investment disclosures and customer service standards on par with those in traditional finance service. Another bill, the Digital Asset Kiosk Act, mandates crypto kiosks or ATM operators to register with state regulators and establish live customer service, create anti fraud and compliance policies, and designate a compliance officer and a consumer protection officer. It also requires operators to limit transaction fees to a maximum of 18% and daily transactions to $2,500 for new customers.
Meanwhile, the Democrat governor Democrat governor voiced his criticism of US president Donald Trump, who has been spearheading the country's fundamental shift towards digital finance. Quote, while the Trump administration is letting crypto bros write federal policy, Illinois is implementing common sense protections for investors and consumers at a time when fraudsters continue to evolve and consumer protections are being eroded at the federal level, end quote. According to the FBI, Illinois saw over $272,000,000 worth of losses from crypto fraud. Well, whatever, dude.
It's just more AML KYC, from a state that you would fully expect to really limit the ability of people to exit the system. And that would be, well, the great state of Illinois. AI. We had talked about AI at the with a Tera Wolf thing. Let's let's revisit AI from a different standpoint. Video games. So from and this is decrypt.co. Artificial intelligence agents are taking over game development, and it says, I guess, according to Google. Yeah. It's a Google study. So nearly nine in 10 game developers say they've already built AI agents into their work according to a new Google Cloud survey. These autonomous programs don't just generate images and assets, they are inside the game, reacting to players and reshaping virtual worlds. The survey, conducted in collaboration with the Harris Poll, polled 615 developers across The United States, South Korea, Finland, Norway, and Sweden.
It found that 97% of respondents believe that AI agents, autonomous programs that can act without human input, are already reshaping the industry with most already using them to speed up coding, testing, and localization. For smaller studios, AI is helping level the playing field with 29% saying AI is lowering the barrier to entry and allowing them to compete with larger publishers. Quote, if you're not on the AI bandwagon right now, you're already behind, Kelsey Falter, CEO and cofounder of indie studio Mother Games, told Decrypt, quote, being small means we can adapt faster, bigger studios have legacy code bases, and senior engineers resistant to change.
For us, AI is baked in from day one. In the study, 87% of developers said that they're using AI agents that adapt to players in real time. These agents are being deployed to control non player characters, guide tutorials, and even moderate online communities. In 2023, Call of Duty publisher Activision rolled out ToxMod, an AI powered tool that monitors online chat for toxic and hate speech. Developers say players now expect more dynamic, responsive environments and richer, more reactive worlds with 35% saying AI driven tutorials are speeding up player onboarding.
Matthias Rodriguez, chief chief technology officer at Globant, a tech firm that works with major game studios, said gamers are open to AI when it deepens storytelling or immersion, but wary if it feels like a shortcut. Quote, gamers are a selective audience when it comes to authenticity. Yeah. No shit, dude. But they're also some of the most open to innovation when it enhances the immersion, Rodriguez told Decrypt. Artificial intelligence, he said, is being used as a creative copilot and a productivity multiplier aimed at enhancing, not replacing the creative process.
Falter agreed that the tools can boost productivity, but said the lack of industry standards means mistakes happen quickly. It's still the wild west, she said. A year ago, we saw AI generating soupy code at a faster Still, most developers are betting on AI's long term value. For Falter, the challenge is maintaining human creativity while using AI to unlock new types of gameplay. Quote, we don't use AI to generate artwork or churn out clones, she said. Our models are trained on scripts written by human writers, and our terrain generators have a specific style unique to our game. It's about maintaining creative integrity. So, yes, this is about gaming and AI, which is not really all that much about Bitcoin, but remember what I said about Nostra yesterday.
Embedding AI agents that would be able to rewrite a Nostr client's code to try to route around any kind of closures that were caused by a government entity who decided that they didn't want Nostra or they didn't want your client or whatever. Because I really think it's something that this is something that Alex Gleeson had had met said that that made me really start thinking about the the embedding of AI agents directly into whatever your project is, whether it's a video game or something like what Alex Gleeson does all day long now, vibe coding, is to have a per basically, a a lot of stuff that you do.
Like, instead of using, let's say, Word for Windows, let's say you're a word guy. Just build your own, use Vibe Coding to build your own word processor. And it's just yours. You're the only one that uses it because it's quick and in time, it will become very, very quick and easy to spin that kind of thing up. You need a art program like Photoshop, but you don't really want to pay Adobe. Sorry, Adobe. I'm just going to spin up my own. Does it mean it will be as good? No. Is it possible you could make it better? Yes. Is it possible over time you could make it better than Photoshop? Absolutely. Depends on if you know what if you know what you're doing. But you see what I'm saying?
It's a personal application. It's the it's using AI to build a personal experience, not one that you're going to ship. You ship it to one and one only, and that's yourself. And the same would be true for something like a Nostr client or any kind of Internet based protocol communications. Like, Nostr, just using Nostr to spin up and not or using Nostr, you you spin up a Nostr client that's got an AI embedded in it, and all of a sudden, France decides that they don't like something about your particular client. First of all, if everybody's doing this, you're talking about hundreds of thousands of of Nostra clients, most of which only have really one user and just uses it to tunnel in and connect to the Nostra protocol where they can find everybody else that they wanna find.
Good good luck trying to get all of those away. Yeah. You could you could be France and say, I don't like primal. I'm going to block everything about primal. Oh, okay. Fine. Are you going to block a 100,000 different Nostra clients? Because a lot of us are going and just building our own. It's like completely stripped down versions. And if you do decide that what I've said coming through my client is so terrible that you can block me. What if I've got an AI agent embedded inside that basically just rebuilds the back end so it doesn't look like what you blocked? However, that works. And again, I will admit to my software development naivety.
I am not a software developer, but, again, I go with my gut. And my gut says that rotating phaser frequencies is the best way to get past Borg Shields so that you can kill them and kill them dead. Moving on to David Bailey's Kindly MD, they've kicked off their Bitcoin treasury with a massive $679,000,000 buy, Zoltan Vardai from Cointelegraph. Nasdaq listed health care service provider and Bitcoin treasury firm Kindly MD has acquired $679,000,000 worth of Bitcoin for its corporate reserve. Pausing. The only reason I'm bringing this to you is because they said that they were gonna do it. I've brought you news about KindlyMD twice now.
And both times, they said they were gonna buy Bitcoin. I said we'd have to see, and now it looks like we're actually seeing them acquire 5,744 for approximately $679,000,000 at a weighted average price of a $118,204 per Bitcoin, the company announced on Tuesday. Pausing again to I'm wondering, is it possible? Because there's a cup there's there's I I I'm trying not to bring you all the Treasury news because it's kinda boring, but there's a lot of treasuries out there that are quickly buying Bitcoin, and they've been doing so at around a $119,000 per coin.
Is it possible that while the short sellers that are trying to really screw over people like strategy, are they realizing that their Meta Planet and similar and strategy, they're just out of reach. They're not gonna be able to crush them. But they could crush brand new treasury companies that are buying at these prices. And if they screw them over good enough and keep the price of Bitcoin low enough for long enough, is it possible that they could get some gains on their returns or some returns in the positive level for them by short selling Bitcoin and getting these new treasury companies like this first buy from KindlyMD to get it to a such a suppressed price that even KindlyMD says, oh, shit.
We've waited too long. Screw this. We're going home. It doesn't matter. The purchase was made using private investment and public equity proceeds and reflects KindlyMD's disciplined Bitcoin treasury strategy. The buy marks the company's very first Bitcoin investment since completing its merger with David Bailey's Bitcoin firm, Nakamoto Holdings, last Friday. Kindly MD's purchase is more than 13 times larger than the latest acquisition by Michael Sailor Strategy, which said on Monday that it bought a measly $51,400,000 worth of Bitcoin at an average price of a $119,666.
Still, the 5,769 Bitcoin represents a small fraction of KindlyMD's plan to acquire a full 1,000,000 BTC. The new company's long term mission to acquire a million Bitcoin reflect the belief that Bitcoin will anchor the next era of global finance according to David Bailey. Quote, this acquisition reinforces our conviction in Bitcoin as the ultimate reserve asset for corporations and institutions. End quote. Bailey served as a crypto key or key crypto advisor for president Trump's campaign and was largely credited with the president's favorable Bitcoin shift. And then they go on to talk a little bit about David Bailey's history. We we really don't need it. The important thing here is that they've actually bought physical Bitcoin.
Kindly, MD has done the deal. They've bought the Bitcoin. They said they were gonna buy the Bitcoin, and today, they've announced that they did indeed buy the Bitcoin, which brings me to our last story for the day. Dutch firm Amdex plans a one point or rather a 1% Bitcoin treasury to be listed on Euronext according to Bitcoin news written by Alex Larry. Amsterdam based digital asset service provider Amdex is planning to launch a dedicated Bitcoin treasury company enlisted on Euronext Amsterdam. The new company aims to hold 1% of all Bitcoin in circulation, which is approximately 210,000 BTC and worth more than $24,000,000,000 at current prices.
If successful, AMBTS, which is the ticker symbol, would be one of the largest institutional Bitcoin holders in the world. Amdex, which has been in the digital asset space for five years, is presenting AMBTS as a standalone company with its own governance and compliance framework. The treasury is for institutional and high net worth investors who want to get exposure to Bitcoin through a regulated European structure rather than holding the asset directly, quote, with now over 10% of Bitcoin supply held by corporations, governments, and institutions.
We think the time is right to establish a Bitcoin treasury company with the aim of obtaining a listing on Euronext Amsterdam. This will provide institutional investors with new financial instruments to get exposure to the performance of Bitcoin, said Lukas Wenzing, CEO of Amdex. They will raise first capital from private investors before going to a full public listing, and the proceeds from the early rounds will be used to, quote, make a head start on the Bitcoin accumulation strategy. Amdex has always been a compliance focused digital asset service provider. In 2020, it was the first digital asset firm in The Netherlands to register with the Dutch Central Bank.
Since then, it has expanded into custody trading, staking, and asset management for private, corporate, and institutional clients. In June, the company was one of the first in Europe to receive a license under the new MICA regulation, the EU's framework for the digital asset industry, and this regulatory approval allowed Amdex to propose a fully transparent and regulated Bitcoin treasury company. So they're planning to buy Bitcoin. They haven't done it yet. And again, this is a, yeah, we'll have to wait and see situation. Maybe they will.
Maybe we never hear from Amdek Amdek's again. But I don't see this as I actually don't see this as an issue because there's going to be a lot of companies that I've already told you about that I will never tell you about again because they just simply disappear. Either either they don't do the thing. Maybe the company itself collapses and its collapse is so small it doesn't make the news. Be prepared for many, many, many, many of these like like Amdex. They I we're going to get we're going to get 1% of the Bitcoin circulating supply. We're going to buy 210,000 Bitcoin.
Yeah. Yeah. I'll believe it when I see it. And it's the same thing with Kindly, MD. I was very skeptical that they were gonna do anything at all, and they did. Doesn't you know, they did. It doesn't mean it's good or bad. I'm just saying at least they followed through on what they said they were gonna do. Because I can guarantee you many companies that have said they're gonna buy Bitcoin and become a Bitcoin Treasury company are not going to become a Bitcoin Treasury company and are not actually going to buy any Bitcoin whatsoever.
So just just understand, and I reiterate, This week is gonna be a hard week. It's gonna be a test for your endurance. It's gonna be a test on your fortitude when it comes to Bitcoin. I've already seen two or three people on x during my my brief scrolling sessions. I've seen a couple of people said that they've sold their Bitcoin to pay off their mortgage, all of their Bitcoin, not some Bitcoin. Right. So that is also I mean, and I've seen a lot of it. I'm seeing I've sold some Bitcoin so I can renovate my house. Another person, I've sold all my Bitcoin so that I can pay off my mortgage.
I've seen many such things. But you know what else I'm seeing? When I'm scanning news stories to select which stories I'm going to put in The Daily Show, do you have any idea how much ether is going to kill Bitcoin news I'm seeing? I I don't even talk about it because it's so dumb. But it is it's the the news organizations that I'm pulling these stories from, their front page for the last two weeks and really not before that, not not for a long, long time, not before that, but about two, three weeks ago, I started seeing just more and more stories about how Tom Lee was buying all the Ethereum and how Ethereum was outpacing Bitcoin, and it just goes on and on and on. So it makes me wonder, are some of these people on x saying that they've sold all their Bitcoin somehow or another being influenced by these publications to say these things. I mean, I'm talking straight up is Cointelegraph paying whatever asshole said that they sold all their Bitcoin so that they could buy, you know, pay off their mortgage. Did they pay them to say that?
Is it true? I don't see any pictures of the transaction. I don't see any pictures of the the check that that extinguishes all the debt. All I see is somebody who says, I've sold my Bitcoin to pay off my mortgage. I don't believe you. I don't think that's true. I think you're lying. And I also think that it's very, very possible that in conjunction with all these Ethereum headlines coming out, you're being paid to push the narrative on the opposite end down, and that would be the Bitcoin narrative. Oh, we gotta get out of this. I saw another one today, and it wasn't even about Bitcoin. It was that they sold all their micro strategy stock so that they could get into a brand new Bitcoin Treasury company stock.
It's just I don't know. I'm probably tinfoil hat in here. But honestly, I look at coincidence and I see patterns And I see a pattern. Doesn't mean that I'm 100% right. I'm just saying I see a pattern, and I thought I should say something about it. Now I've said something about it, so I'll see you on the other side. This has been Bitcoin, and and I'm your host, David Bennett. I hope you enjoyed today's episode and hope to see you again real soon. Have a great day.
Introduction and Episode Overview
Market Observations and Closing Thoughts
