Episode 1184 of Bitcoin And . . . is LIVE!
Topics for today:
Freeze Dried Fruits and Herbs
Comfrey Salve
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https://primal.net/p/nprofile1qqspqxs39j9dctnfuqqrz98lrswnddlumcrdsn28j689n824susmphcfxudsz
https://www.coindesk.com/business/2025/10/07/fasset-wins-malaysia-license-to-launch-first-stablecoin-based-islamic-digital-bank
https://www.theblock.co/post/373674/s-and-p-global-hybrid-index-cryptocurrencies-crypto-related-stocks
https://x.com/RWAwatchlist_/status/1975241865197723709
https://atlas21.com/opendoor-ready-to-accept-bitcoin-payments-for-home-purchases/
https://bitcoinmagazine.com/news/bitcoin-life-insurer-meanwhile-raises-82-million
https://cointelegraph.com/news/nyse-parent-invests-2b-in-polymarket-at-9b-valuation
https://x.com/Princey21M/status/1975466706127757699
https://decrypt.co/343152/bitcoin-treasury-kindlymd-250m-convertible-debt-antalpha
https://atlas21.com/time2build-bringing-bitcoin-to-open-source-apps/
Get You're Free Comfrey Owner's Manual Here:
https://www.bitcoinandshow.com/the-comfrey-owners-manual-is-here/
Topics for today:
- Islamic Bitcoin
- Opendoor Accepts Bitcoin For Houses
- Morgan Stanley Advises 4% BTC
- NYSE Invests $2 Billion in Polymarket
Circle P:
PermanerdFreeze Dried Fruits and Herbs
Comfrey Salve
5% off with BitcoinAnd
https://sats4snacks.com/
https://primal.net/p/nprofile1qqspqxs39j9dctnfuqqrz98lrswnddlumcrdsn28j689n824susmphcfxudsz
Today's Articles:
https://bitcoinmagazine.com/business/morgan-stanley-advises-btc-allocationhttps://www.coindesk.com/business/2025/10/07/fasset-wins-malaysia-license-to-launch-first-stablecoin-based-islamic-digital-bank
https://www.theblock.co/post/373674/s-and-p-global-hybrid-index-cryptocurrencies-crypto-related-stocks
https://x.com/RWAwatchlist_/status/1975241865197723709
https://atlas21.com/opendoor-ready-to-accept-bitcoin-payments-for-home-purchases/
https://bitcoinmagazine.com/news/bitcoin-life-insurer-meanwhile-raises-82-million
https://cointelegraph.com/news/nyse-parent-invests-2b-in-polymarket-at-9b-valuation
https://x.com/Princey21M/status/1975466706127757699
https://decrypt.co/343152/bitcoin-treasury-kindlymd-250m-convertible-debt-antalpha
https://atlas21.com/time2build-bringing-bitcoin-to-open-source-apps/
Get You're Free Comfrey Owner's Manual Here:
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[00:00:02]
David Bennett:
It is 08:53AM Pacific Daylight Time. It's the October 2025, and this is episode eleven eighty four of Bitcoin and Morgan Stanley advises up to 4% Bitcoin allocation in portfolios. That's gonna be how we start off the day. It's all the news you can use about Bitcoin and more. It's why you're here at the Bitcoin and podcast. Then we're gonna talk about Facet, the first stablecoin based Islamic digital bank. I think the permutations of all this stuff is getting just a little bit out of hand, but, you never know. It it it could be worth something. And then the S and P Global is going to be in the news, and then we gotta talk about Robinhood and their CEO, Tenev, saying stuff. And that's we'll we'll get to that. I promise I'll have a clip of it. And then and then Opendoor is ready to accept Bitcoin payments to purchase real estate.
A specific kind of real estate, but real estate nonetheless. And then, life insurance will be in the news with Bitcoin as well as the NYSE parent investing in Polymarket of all damn things. And then we'll have a little bit of NACA news because it's not really doing all that well. NACA, NACA, NACA, not gonna make it. So, what else is here? We have oh, Breeze. Breeze wallet is back in the news, and we will end up there. But first, Morgan Stanley advises up to 4% Bitcoin allocation in portfolios. This is Micah Zimmerman for Bitcoin Magazine. Morgan Stanley has released a report advising their clients to have a maximum allocation between 24% of their portfolios to Bitcoin and, God forbid, crypto. The new report issued on October 1 outlines crypto and then in parentheses, primarily Bitcoin allocations based on investor risk profiles.
Opportunistic growth portfolios, which target higher risk and higher return strategies, should include up to 4% in crypto, while balanced growth portfolios are capped at 2%, according to the report. The committee who wrote the report characterized Bitcoin as a scarce asset comparable to digital gold, suggesting that it now occupies a legitimate role within diversified investment strategies. Quote, we place the emerging asset class within real assets and focus our commentary here primarily on Bitcoin, which we consider a scarce asset akin to digital gold, the report read. While Morgan Stanley acknowledged the asset classes historical volatility and potential for high correlation with broader market stress during periods or rather broader markets during stress periods, it also noted that crypto's total returns and structural maturity have improved in recent years.
Then Morgan Stanley said that clients should regularly rebalance their multi asset portfolios ideally every quarter or at least once a year. Quote, sure, rebalancing will dampen the potential for swelling positions, which could mean outsized portfolio level volatility and cryptocurrency risk contributions in periods of macro and market stress, according to the report. The report also recommended gaining exposure through exchange exchange traded products to manage volatility and prevent portfolio distortions during strong uptrends. This approach indicates a measured but open stance towards integrating crypto within traditional investment frameworks.
The announcement coincided with Bitcoin reaching a new all time high of roughly a $126,200 today. The move extended extended a nine day rally supported by spot ETF inflows and a weakening US dollar amid renewed government shutdown concerns. Morgan Stanley's latest guidance follows its September decision to expand digital asset access through its E Trade platform, enabling trading in Bitcoin and other crypto via a zero hash partnership. So what are they saying here? They're saying buy Bitcoin, but by God, you better rebalance. Otherwise, you could get overweight on Bitcoin in times of upward volatility. Now here's my question.
If your portfolio has becomes overbalanced on Bitcoin because it's just going through the roof, and your response is to sell some so that you have a better position on, oh, I don't know, energy stocks. I don't think we live in that world anymore. I I really don't. I mean, sure, if you're in nothing but legacy markets, legacy equities, legacy bonds, legacy whatever, then, sure, go ahead and rebalance until your heart's content. But you're basically squelching the asymmetry asymmetric trade that Bitcoin has always been. So I'm not sure if the second part of the Morgan Stanley reports advice should be taken very seriously by people who know what this asset is.
But on another note, Morgan Stanley is saying it. And I never kinda thought we would if you were to ask me, you know, even five years ago, if I had thought Morgan Stanley would be advising people to ask to allocate two to 4% of their portfolios into Bitcoin, I would say no. I think we'd have to wait a little bit longer than that, but here we are. And now we're going to Malaysia where something called Fasset, f a s s e t, wins Malaysian license to launch the first stablecoin based Islamic digital bank. Ian Allison is writing this one for CoinDesk. Facet, a digital asset investment platform, oh, there we go, has been given a provisional banking license in Malaysia, clearing the way for what it calls the world's first stablecoin powered Islamic digital bank.
The move places Facet within a regulated sandbox for Islamic fintech. Enable I did not know Islamic fintech was a deal, but, again, here we are. It enables the company to expand its existing digital asset platform into full service banking, the company said in a press release on Tuesday. With the new license, Facet plans to offer Sharia compliant savings, financing, and investment services that use stablecoins and, God forbid, tokenized assets, which we will get into here in a moment. Customers will be able to hold deposits, invest in United States stocks, gold, and crypto, and spend through a planned Visa linked crypto card.
CEO Mohammed Rafi Hussein said the new license combines, quote, the credibility of a global banking institution with the innovation of a fintech insurgent. Oh, use an insurgent. So given the history of of western culture and the clash with the Muslim world, I'm not sure if insurgent is the word that I would have chosen, but, hey, again, we live in this world. Facet also plans to roll out, quote, own, end quote, god forbid, an Ethereum layer two network build on arbitrum to settle regulated real world assets on chain. The company said that its stablecoin infrastructure allows users to avoid interest bearing products while preserving the value of their assets against inflation or currency swings because Sharia law forbids all forms of interest known as reba.
A facet aims to address a persistent gap in financial inclusion across the $5,000,000,000,000 global Islamic finance industry, Access to halal asset backed financial products remain limited in many Muslim majority regions, especially in Asia and Africa. Back in March, Facet won a license to operate in Dubai as a virtual asset service provider, and the Dubai and Jakarta based company said its platform is already processing more than $6,000,000,000 in annualized transaction volume across a 125 countries. So why is it important? Well, I mean, I I don't know that much about Facet, but it is yet another Islamic based company or, well, plat we'll just call it platform, investment platform that is embracing crypto. Now, yeah, I know. You you know I hate the word crypto, but it it is what it is, and we gotta deal with it because stablecoins aren't going away. But here's here this becomes my question.
At one point or another, I get the feeling that all stablecoins are going to offer some sort of yield. I don't think that there will be one unless it's specifically designed to never be asset bearing, I don't think that there's going to be a stablecoin that doesn't convert over into some kind of yield bearing thing. I don't like it because, again, the question always is where does the yield come from? But that doesn't mean that these that the yahoos out there in in in the new world of fintech and Bitcoin and stablecoins and crypto won't try to figure out a way to get yield bearing stablecoins everywhere. So if that happens, then what happens with Reba and, you know, halal and, you know, Sharia based loan making, which forbids any amount of interest taken at all, not even 0.1%.
It you can make a loan, but it cannot it can you cannot charge interest on it. All you would get back is the principal. That's that's how they do their shit. Right? And even the Jews had basically described usury laws back in the Old Testament. Not supposed to charge your brother's interest on loans. If they need help, you're just you you come to the rescue. You give them the money. They work their ass off to pay you back, but only the principle. Alright? This is Abrahamic law. This is old. This is very old. This this goes back, I believe pretty sure it goes back before the split from Abrahamic or the old Judean, not Judeo Christian, but the old Judean religion, the Jews. You're talking like straight up Jewishness. Right? Before the split of the Jews into Jews and Islam, and that was from Abraham. So this is an old old argument that has been made about, you know, like, I remember years ago, I I think it was, like, four or five was the first time I saw somebody that was basically Muslim and talking about Bitcoin in the context of Islamic law, Reba, you know, Halal, all all this stuff.
And essentially saying that as far as scholars were concerned in their faith, there was nothing about Bitcoin itself that would disallow it from being used as money in all of Islam. So that's the that's a large section of the population of the planet, and it can't really be ignored. So I'll watch it and see what happens, but I still I wonder, you know, are they gonna have to eventually create their own Islamic stablecoin that absolutely guarantees that no such thing as yield could potentially be made? So there's that.
Now on to the S and P Global. They're launching the first hybrid index combining cryptocurrencies and crypto related stocks. I don't necessarily take this as good news and neither do the markets because as we see, the price of Bitcoin is not due. Well, it's okay. It's not that it's not doing well. It's fine. We were nine days up, but now we are coming back down. We've got, I think, a two and a half percent loss as of today because lots of positive Bitcoin news came out. So what's what's our response? Sell the news. That's how this works, apparently.
By the way, this is James Hunt writing for the block dot c o, S and P Global, which is the company behind the S and P five hundred and the Dow Jones Industrial Average, announced its first hybrid cryptocurrency and crypto related stocks index in collaboration with Denari. The S and P Digital Market's 50 will aggregate 15 major cryptocurrencies and 35 stocks connected to companies involved in digital asset operations, infrastructure providers, financial services, blockchain applications, and supporting technologies designed to meet the growing investor demand for diversified exposure to digital assets. Just freaking buy Bitcoin. Anyway, in a statement on Tuesday, S and P Global said, this will provide market participants interested in exploring crypto linked opportunities with a measure of performance across both sides of the crypto ecosystem.
Oh, it's just so terror. I hate reading this quote. Cryptocurrencies and the broader digital asset industry have moved from the margins into a more established role in global markets. S and P Dow Jones Indices chief product officer, Cameron Drinkwater. I I shouldn't make fun of anybody's name, but that he must have caught he must have caught some shit when he was in school. Quote, S and P DJI's expanded index suite offers market participants consistent rules based tools to evaluate and gain exposure from North America to Europe all the way to Asia. Market participants are beginning to treat digital assets as part of their investment toolkit, whether for diversification, growth, or innovation strategies, end quote.
No single asset will exceed 5% of the digital market's 50, with minimum market caps of a $100,000,000 for equities and 300,000,000 for cryptocurrencies as first reported by Barrons. Those caps would currently apply to the top 276 cryptocurrencies according to the block's prices page. I gotta pause. Because when you when you take when you take the market cap down to 300,000,000, you get so much shit. In fact, out of 276 cryptocurrencies, only one of them is worth something. So we have 275 altcoins that are gonna be in this fund or, well, this index. Anyway, the index will follow S and P standards quarterly rebalancing, of course, because, god forbid, you let Bitcoin run. And governance rules through although its full constituent list has yet to be released, the S and P Digital Markets 50 joins the firm's existing series of digital asset benchmarks, the S and P cryptocurrency indices, and the S and P digital market indices.
Denari, a provider of tokenized securities infrastructure. It's coming, guys. It it it it's on its way. It plans to launch an investable token tracking the new benchmark with the index set to go live on its d shares platform by year end. Oh, great. Yet one more token that represents, well, a share of the s and p 50. Quote, by making the s and p digital markets 50 investable via D shares, we are not just tokenizing an index. We are demonstrating how blockchain infrastructure can modernize trusted benchmarks. Denari chief business officer Anna woah.
Robble Robblewska, that's an interesting name, said, quote, for the first time, investors can access both US equities and digital assets in a single transparent product. This launch shows how on chain technology can expand the reach of established financial standards, making them more efficient, accessible, and globally relevant. Coinbase, Kraken, Gemini, and, of course, Robinhood, which we will talk about here in a moment, are among the crypto exchanges looking to grow their tokenized equities businesses, quote, I think tokenization is like a freight train, Robinhood CEO, Vlad Tenev, said last week at Singapore's Token Twenty Forty Nine Conference, quote, it can't be stopped.
And, eventually, it's going to eat the entire financial system. We're gonna have more about 10 of here in just a second. But first, the circle p is open for business. It's where I bring plebs that have goods and services for sale to plebs just like you that want to purchase said goods and services. But you gotta do it in Bitcoin because if you're not selling your goods and services in Bitcoin, you're not in the circle p. Today, it's Perma Nerd. And his website is sats,thenumberfour,snacks.com. Satsforsnacks.com. That's satsforsnacks.com.
You can get just peachy. What is it? Enjoy the taste of summer all year long with our 100% freeze dried peaches. Each piece is freeze dried to lock in flavor, color, and nutrients. Light, crunchy peaches that taste just like fresh fruit without added sugar or preservatives. Perfect as a healthy snack straight from the bag, a topping for your yogurt or oatmeal, or an easy way to boost smoothies and baking. Lightweight and shelf stable, They're great for hiking, school lunches, or pantry storage. 100% peaches, nothing else. Again, no added sugar, no preservatives, no artificial ingredients. Just crunchy, naturally sweet, and nutrient dense freeze dried peaches. He's also got freeze dried mangoes. He also has a medley pack. He's got bananas.
He also somewhere in here, he's got apples, I thought, but maybe maybe not. And he's got comfrey salve. Okay. So a little bit about this. Comfrey is a healing plant. It's been used for centuries as a healing plant. And just a couple of days ago, I got my, well, my perma pack from Perma Nerd. He sent it to me to let me try out some stuff. It's delicious. The bananas are delicious. The peaches are delicious. The freeze dried apples were awesome. It was just this is amazing stuff, but the comfrey salve, oh my god. My cat mauled the back of my hand. I mean, I'd say mauled. I don't know what else to put it, but she scratched it up pretty good. Yeah. It was bleeding. It it kinda bled for a while. I actually had to go get, like, some tissue and kinda keep dabbing until the the blood coagulated so that it would stop bleeding.
And I've been using the Comfrey salve on this to heal these cuts, and they're almost healed. This was, like, three days ago. They're almost healed. It's like I mean, it's like I can barely even see scabs at this point anymore. And remember, I was bleeding to the point that I had to dab it. Like, there's, like, one, two, three, four, five, six places where I was bleeding from on the black back of my hand. And I just started using this conferee salve about three, four, five times a day as much as I could remember. Just rub it on there. Boom. Dude, the healing properties of confry demonstrate themselves.
You gotta go to sats4snacks.com. That's sats,thenumberfour,snacks.com. Mention Bitcoin and anywhere that you can and get 5% off. Bitcoin and is your key to 5% off of Sats four snacks, freeze dried snacks, and the best comfrey salve I've come across yet. Back to Tenev.
[00:21:38] Unknown:
I'm just gonna let him speak for himself. And I think real estate's a big opportunity. I think it's it's smart that they're aggressively pursuing that, because everyone wants access to high quality real estate, particularly the mass market. But isn't it true real estate is actually more complex? I mean, they tried this before. It hasn't really worked. It has, some similarities, to a private company, actually. If you think about what a real estate, investment looks like, you you create a corporation. Using that corporation, you acquire some assets. It has some cost, which you wanna minimize as much as possible. Maintenance.
It has revenues like rent receivables or depending on how you use it. So if you can tokenize a private company, that same technology can actually be used to to to tokenize real estate, be it residential, commercial. And, yeah, I I think we figured out how to do it. It's just a question of regulation and what the right products are for for different groups of customers.
[00:22:42] David Bennett:
Well, it's gonna happen. This tokenization of real world assets got ahead of steam with bananas on the blockchain. If you've been listening to the show for, you know, for a few years, I used to really rant about that. And and then it just kinda died. It it kinda died with alt season. And, it's been I don't know. It kinda comes back every once in a while, but, you know, after 2018 through 2019, we really didn't hear all that much about it. Then it kinda came back a little bit again. We're gonna put real world assets on the blockchain, yada yada yada yada. And real estate has always been part of that argument. Right? The bananas on the blockchain was just dumb. But things like, what am I trying to say?
Things like, titles to your car, you know, like the title to your house, that that kind of thing. I can almost see it except that we always have to fall back to the position that it doesn't matter if your title to your car is somewhere on the blockchain. Men with guns can come take your car. They can come take your land. They can come take your house. I'm not saying not to own any of that. I'm just saying that just because it's on the blockchain doesn't mean anything. It it just doesn't. It's a record. And, sure, it it it'd be you know, I could I could see courthouses all over The United States converting over to keeping all these digital records in some kind of format that at least we know that once they were put put on on, god forbid, on the blockchain, that they that they wouldn't be able to be, oh, not converted, messed with, tampered with, changed in some way without, you know, the the hash of the original not matching the hash with the new. So there's there is some kind of utility in this, but what what we're looking at here is this ridiculous, ridiculous distraction from Bitcoin. Because it's like real world asset watch list is the people that dropped this clip from 10 of saying that. And here's the here's the tweet. Says, breaking.
Of course, everything's breaking. Robinhood CEO during Bloomberg interview, quote, real estate tokenization is a freight train. We figured out how to do it. Just waiting for regulations. And then the tweet says trillions incoming. Now it's this kind of bullshit hyperbole that gets everybody into trouble. So just please understand that this is probably not going to last as long as people think it is. Tokenization of assets is coming. It's just I don't think it's going to mean quite what they think they want it to mean, if that makes sense. But we're not done with real estate and Bitcoin.
Atlas twenty one says this, Opendoor is ready to accept Bitcoin payments for home purchases. Alrighty. Well, let's see what they these people have to say on October 6. Khaz Nejatien Nejatien. Nejatien. I'm gonna pronounce it that way. Nejatien, CEO of Opendoor Technologies, announced the company's intention to integrate Bitcoin and other cryptocurrencies as a payment method for home purchases. The announcement came during an exchange on x when Nejatien responded to a user suggesting the introduction of digital asset payments by stating, quote, we will. We just need to prioritize it.
Following the news, Opendoor stock rose to $9.29, which was up from a previous close of $8.11. The San Francisco based company operates in 44 US markets and boasts a market cap of $6,220,000,000, having generated 1,570,000,000.00 in revenue in the 2025. That's actually rather impressive. The company employs approximately 1,470 people and offers real estate buying and selling services through its mobile app, financing options, and an infrastructure that could be easily adapted to support cryptocurrency payments. Opendoor's move is part of a broader trend in which in which real estate operators worldwide are integrating Bitcoin and other digital assets as payment options in their business operations. And last September, Rak Properties, r a k Properties, one of the leading real estate developers in The United Arab Emirates, partnered with fintech company HubPay to accept Bitcoin, ether, and USDT for property purchases with all transactions converted into dirhams through regulated channels. The Emirati initiative aims to attract younger digitally native investors aligning with Ras Al Khaimani's or no. Hold on. Ras Al Khaimah's vision 2030 strategy for economic diversification and increased foreign investment.
As of now, Opendoor has not disclosed a specific timeline for implementing digital asset payment capabilities nor has it specified which cryptocurrencies aside from Bitcoin the platform will accept. Well, that's actually better news than tokenized real estate. I mean, at least we can stop with the whole, you know, converting Bitcoin into fiat and then buying the house or, you know, whatever whatever it is that we need to do. Honestly, that one's good news. The 10 f, you know, the the 10 f stuff is just more distraction. Don't get distracted.
Let's run the numbers. Energy seems it's in the red, but it's not as terrible as I keep thinking it's going to be. Brent Norsey is down point 4% to 65 and 20¢ per barrel. West Texas Intermediate is down a third to $61.51, but natural gas is up three points to $3.45 per thousand. Gasoline down point six. Mirbon crude is down a half to $66.51. Gold doing rather well today. It's up a quarter of a point, but palladium is the big winner point no. Z I'm sorry. 1.59% to the upside. Gold chilling out at $3,987.8. Platinum, however, is down a point. Silver is down 2.6 back underneath $48 an ounce, and copper is up point eight.
All agriculture is in the red, except what maybe no. There's there's feeder cattle are up. But, the only thing in the green today is soybeans, which I find amazing considering that I saw a report yesterday that most of the soybean silos in the mid in the North Midwest are so at capacity that it looks to me, given from what I saw yesterday, that you might have to actually pay them to take the soybeans off your hand. Nobody can find storage. And it was a bumper crop for grains this year. It was amazing. So soybean bucking its latest trend. It's actually up point 25%.
The biggest loser today is sugar down two points. Live cattle is down point one seven, lean hogs down 1.12%, and feeder cattle is up a tenth of a point. The S and P is down a half. The Nasdaq is down point six. The Dow is down a half, and the S and P Mini is down 1.35%. And Bitcoin is having problems of its own today. A $121,180 brings us back down to a $2,420,000,000,000 market cap, and we can only purchase 30.4 ounces of shiny metal rocks with our one Bitcoin of which there are 19,931,204 and 1 third of. And average fees per block are high. 0.04 BTC taken in fees on a per block basis.
There seems to be about 25 blocks carrying 48,000 unconfirmed transactions waiting to clear at high priorities of four sats per v byte. Low priorities get you in at one. We are the hash rate's still above a zeta hash, but we are falling a bit. 1.03 zeta hashes per second is the hash rate for the Bitcoin network. It's all the security that we need. Now for a biblical scales of wealth, which was yesterday's episode of Bitcoin and, 421 sats, and I don't know who sent it to me. Oh, that's a bummer. It does the name's not resolving. Anyway, it says another banger episode, brother. Small context on The UK Bitcoin seizure and the reason they think they can only give back fiat still think that's theft, by the way.
That's what he says. The Bitcoin was purchased by the scammer as a method to flee with funds that they scam from Chinese citizens via a pretty basic stocks Ponzi scheme. So okay. Okay. So the Bitcoins were never owned by the victims. UK's thinking being that they will just make those victims whole, fiat in fiat because the fiat is what was stolen, still theft, but just some context. That's very important context. Thank you. That that's that is very helpful. I really appreciate that and God, I wish I knew what you're I wish I knew the name of this person. Reverend Hoddle from UK Thievery, it was a few, actually, that was like three episodes ago. 03/21 says, thank you, sir.
Well, what happened? Oh, Perminor just came in. Perminor just came in. Hold on. Sorry. I didn't mean to confuse everybody. My my fountain.fm app flipped over on me. Reverend huddle dot huddle says, thank you, sir. Chicago BitDevs is Thursday. Okay. So Chicago BitDevs is Thursday, October 9 at the strike office at 6PM. If anybody listening to me that's in Chicago that wants to go to bit devs, it's this Thursday, October 9, that's like a couple of days, is gonna be at the strike office at 6PM. I'm assuming that's central time. So let's go back. Perma Nerd just came in and said, wake up people. The government is not better than you with 210 SATs. Thank you, Perma Nerd.
God's death with two thirty seven says, thank you, sir. No, thank you. Oh. Oggi Chute with 5,000 sats says, LOL, Europe wants to go to war with Russia. Your godforsaken country and entirety of Europe are financing Ukraine's military precisely so that other European countries wouldn't have to defend against Russia. Take my sats, and I will take another break from listening. I've done pissed him off. Well, hey. You you just can't please everybody all the time. If you have any opinions whatsoever, someone else is not gonna hold that opinion and it's gonna piss them off. But I still appreciate Auggie Chute from coming in here and actually saying how he feels.
Everybody has an opinion, they're all valid. Alright? So it doesn't matter what I think about Ukraine, or what I think about Russia, or what I think about Europe. Right? It really depends on what you think about all this. And if you disagree with me, then let me know. Let's see here. What Rod oh, shit. Rod Paul Rod Palmer with 10,000 sats says, AI slash chip market smells super fishy. You're damn right it smells super fishy. I totally agree. Pleb to Polymarket? Hold on. No. Pleb to Polymath with 2,100 SATs says, great episode. Turn this one up and get educated.
Wartime with a 133 SATs says, send it. I appreciate that, brother. Let's see who else is here. Pies with one twenty one says thank you, sir. No. Thank you. Ankh Morpock with 500 says keep doing what you're doing. I think I've read that already. That's the weather report. Welcome to part two of the news that you can use. Bitcoin life insurer, meanwhile, raises $82,000,000. This is out of Bitcoin magazine, Vivek Singh, writing. Meanwhile, the world's first regulated Bitcoin life insurance company has secured 82,000,000 in funding to expand its offering of Bitcoin denominated insurance and retirement products.
The funding round, co led by Bain Capital Crypto and Juan Ventures with participation from Pantera Capital, Apollo, Northwestern Mutual Future Ventures, and Stillmark brings the company's total 2025 funding to a $122,000,000. The Bermuda god. They're always in Bermuda. The Bermuda based company regulated by the Bermuda Monetary Authority has pioneered several innovations in the Bitcoin financial sector, including becoming the first Bitcoin denominated life insurer globally and securing Bermuda's first long term insurance license. Meanwhile's products combine traditional life insurance and annuities with Bitcoin, offering policyholders protection against inflation while providing secure wealth transfer options.
Quote, life insurers have always provided the steady long term capital that keeps financial markets moving, said Zach Townsend, CEO of Meanwhile. Quote, we're bringing that same role to Bitcoin, helping families save and protect wealth and BTC while giving institutions new ways to earn returns and launch bitcoin index products that are compliant and easy to scale. This raise lets us build on what's working and expand it with partners around the world. The company has reported over 200% growth in Bitcoin assets under management, reflecting increasing demand from both individuals and institutions seeking Bitcoin denominated savings and corporate treasury products, Meanwhile generates Bitcoin returns through conservative lending and private credit, establishing itself as one of the world's largest long duration BTC lenders.
Chris Ahn, partner at Juan Ventures, emphasized the importance of Meanwhile's role in the evolving Bitcoin economy. Quote, just as The US economy was built on insurance, pensions, and mortgages, the Bitcoin economy will require its own long duration financial products. Meanwhile, is the first mover in this category, and we believe it will unlock a new wave of innovation across Bitcoin denominated markets. The funding will accelerate Meanwhile's global expansion through institutional partnerships, enabling broader access to BTC denominated life insurance, annuities, savings, and insurance bonds. The company operates under strict regulatory oversight, meeting solvency and reserve standards comparable to established traditional insurers.
Founded by fintech entrepreneurs, Zac Townsend and Max Gassner, meanwhile, has positioned itself at the intersection of traditional finance and Bitcoin innovation. So life insurance that's Bitcoin based. This is the first time I've heard of meanwhile. Although I have heard the name Zach Townsend before, I'm gonna have to dig into this a little bit because that's insurance is really the next thing that's on deck for Bitcoin right as and after the the tokenization of real world assets. I honestly think that insurance products are probably a better play. And and and I get the feeling that somehow or another, pensions are gonna start falling to Bitcoin, all like in general mortgages. I mean, that was that that's that's the thing that really kinda raised the hackles.
Where where what'd it say? Oh, do do do. I think it was like yeah. Just as The US economy was built on insurance, pensions, and mortgages. That sentence is kinda frightening. I thought The US economy was built on manufacturing. Now, it's not now. But The US economy as what we have now is the legacy that what was built a long time ago. And it wasn't just built on insurance, pensions, and mortgages. Right? It was built on construction. It was built on manufacturing. A couple of times, it was built on a wartime economy, but we won't get into that. I'm just saying it wasn't just built on insurance, pensions, and mortgages.
That's what that's what is holding up the entire thing right now. And from what I see, pensions are not doing well. It's unless they start buying Bitcoin and holding it themselves and not in an ETF. I'm just saying. Now the NYSE parent has invested $2,000,000,000 in Polymarket, giving it a $9,000,000,000 valuation, Adrian Zmunsky, Cointelegraph. The Intercontinental Exchange, which is the parent company of the New York Stock Exchange, has invested 2,000,000,000 in cryptocurrency based prediction market, Polymarket. And according to a Tuesday Polymarket x post, the ICE invested $2,000,000,000 in the prediction market.
The deal values PolyMarket at $9,000,000,000 post money valuation. ICE's NYSE is the world's largest stock exchange by market cap exceeding 25,000,000,000,000, oh god, as of July 2024. Its interest is the latest move that fuses The United States traditional financial landscape with the cryptocurrency industry, pausing to say no. They don't wanna fuse it with the cryptocurrency industry. They want a different form of gambling. They want a different doorway into the casino. That's what this is about. This has nothing as much to do with cryptocurrency industry as it does. We've gotta fuse the NYSE tokenized assets and a new form of gambling. We're calling it prediction markets.
That's just a that's just a fancy way of saying casino. Just saying. Polymarket is a crypto powered prediction market where people buy and sell, quote, shares in real world event outcomes like elections, sports, crypto prices, AKA gambling, with market prices reflecting the crowd's implied probabilities. Trades typically settle in stablecoin, and markets are resolved against predefined verifiable resources with access for US users restricted due to US regulatory, you know, reasons. The news also follows recent reports that Polymarket is indeed reportedly preparing a US launch that could value the company as high as 10,000,000,000.
And in early September, the US Commodity Futures Trading Commission issued a no action letter on QCX granting poly market relief from certain federal reporting and record keeping requirements. That stance marks a notable shift from prior years. In mid November twenty twenty four, the United States Federal Bureau of Investigation went as far as to raid the home of Polymarket CEO, Shane Kopplin, seizing his phone in electronics. The CFTC also issued a cease and desist order against Polymarket in early twenty twenty two. This followed Polymarket's July acquisition of The US licensed derivatives exchange and clearinghouse, QCEX, for a $112,000,000 in preparation for its reentry into The US market. In recent times, the prediction market has undergone significant leadership changes.
And in late August, Polymarket added Donald Trump junior, the son of US president Donald Trump, to its advisory board after receiving a strategic investment from self described politically aligned vehicle seventeen eighty nine Capital. The financial details are unclear, but according to some estimates, the investment was worth double digit millions of dollars. So NYSE investing directly into Polymarket. I don't think this is gonna be good. I mean, the the degenerates are gonna love it, because I guarantee you this is this is one of the entry points into tokenized equities. I'm just I'm just saying. They're they're I think they're building the infrastructure, and and they're gonna be using Polymarket as a potential back end for essentially doing what we do on the NYSE anyway, which is gamble our hard earned money against people that know a hell of a lot more information than you do.
Exactly one year ago today, Kindly MD stock opened at a dollar and 3¢, which is exactly where it closed last night. You can't make this shit up. That's Daniel Prince. And if you don't know who Daniel Prince is, he's got the once bitten, podcast. He's, one of my I I I consider Daniel a good friend. Been on his podcast a couple of times with him and his daughter, and I always have a really good time. But he's got this graph here on this post on x that shows the chart of knock of NACA. And if that's that's the ticker symbol of NACAMD. And if you don't know what NACAMD is, I've talked about it on the show ever since they kinda opened up. But Nakamoto is it was a company and Kindly MD was a company, and they merged and took on the ticker symbol n a k a, Naka.
And it's not gonna do well. It's just it looks like garbage. It looks like it's trading like a shit coin. And these were this was supposed to be not Daniel. This is supposed to be David Bailey's big sweetheart deal of becoming a Bitcoin treasury company himself, and it doesn't look like it's working out at all because it's exactly where it started from. It's after all the hype, after all the buying of the Bitcoin, after all the announcements of announcements of becoming a Bitcoin treasury company, they have not moved the needle. Let's see. They were at basically, at the May, they were at, like, a buck $0.03, something like that. No. No. No. In at at the February, they were at a buck $0.03, and now they're chilling out at a dollar $0.03.
I mean, it's like the nothing happened. This is this this is the alarm bell. This is Red Flag and Canary in the coal mine all wrapped up together with a nice, neat little bow that says, stop buying the new treasury companies. In fact, I don't even buy treasury companies. I don't recommend any of that crap. But, hell, if you want to, then buy something established. Stop going trying to get the next strategy, you know, because it was sir it sure as shit wasn't NACA, but they're not giving up. They're not give they're not gonna give up because James Rubin from decryp.c0 has this one.
Bitcoin Treasury, Kindly, MD, is going to issue $250,000,000 in convertible debt with Nasdaq listed ant alpha. I don't think it's gonna work the way they think it's gonna work, but kindly, MD said on Tuesday it plans to boost its Bitcoin holdings through a five year $250,000,000 secured convertible note deal between its Nakamoto Holdings treasury unit and Ant Alpha as part of a broader partnership between the two Nasdaq listed firms. Salt Lake City, Utah based Kindly MD, a health care data company that pivoted to Bitcoin accumulation in May after merging with Nakamoto, said it intends to use the convertible debt for, quote, long term financing with less dilution risk to the shareholders compared to standard convertible debt and for general corporate purposes.
This partnership represents the power of Bitcoin companies backing Bitcoin companies, Kindly MD chair and CEO David Bailey said in a statement. Have you looked at your chart lately there, Dave? Quote, together with AntAlpha, we are not only addressing today's financing needs, but also laying the foundation for future structures tailored for the unique requirements of Bitcoin treasury companies. This is the first step in what we expect will be a long series of initiatives to benefit our portfolio, our shareholders, and the Bitcoin ecosystem at large.
Suit speak. It's just suit speak. It said nothing. It it I'm just being honest. Laying the foundation. What is that? What is today's financing needs? Can you describe that, please? Future structures. What are they? And you say that they're tailored to the unique requirements of Bitcoin treasury companies. How are they tailored? And could you describe exactly what the unique requirements of Bitcoin treasury companies actually is? See, these are these are the questions that I begin asking myself every single time I get a hold of a paragraph of suit speak. Continuing on the announcement, follows a challenging period for KindlyMD with its price dropping more than 77% over the past month to trade at just above a buck per share, its lowest mark since late twenty twenty four according to Yahoo Finance.
Last month, Bailey cautioned that the firm could be headed for volatility and said he would prefer naysayer investors leave immediately, telling them the firm had reached a point of uncertainty in a shareholder letter. Not good, dude. The company submitted an s three registration to the US Securities and Exchange Commission a few days prior to Bailey's comments, noting that a $200,000,000 private placement in a public equity offering offered shares to investors at a discount. The company intends to use the proceeds from the potential financing announced on Monday to replace a prior $203,000,000 Bitcoin secured credit from two Prime Lending Limited, although this facility will remain available, the company said. Now now Bitcoin has been gaining significant ground during the US government shut shut down as many investors have viewed it as a safe haven asset that would protect them against a potential decline in the value of the US dollar.
Kindly, MD is the nineteenth largest Bitcoin treasury with holdings of 5,765 BTC according to Bitcoin treasuries. That's about $718,000,000 in today's market, and Bitcoin was recently changing hands at about a 124,800. Separately, Antalpa and Tether are spearheading an effort to raise 200,000,000 for a crypto treasury company based on x u a t, Tether's token representing ownership of physical gold held in secure vaults, Bloomberg reported last week, citing unnamed sources. So ant alpha seems to be all over the place. I guess it's something to watch. I don't want to see another FTX.
Last up for the day, Breeze, together with Tether. Oh my god. Now Tether's everywhere. LightSpark and other industry players launches a $25,000 contest to integrate Bitcoin into the most widely used open source software. Breeze, in collaboration with Tether, Lightspark, Draper University, PlebLab, Geyser Fund, Plan b Network, and Folger Ventures has announced the launch of Time to Build, a challenge aimed at developers with the goal of integrating Bitcoin into existing open source applications used by millions of people. The initiative stands out from traditional hackathons and bounty programs.
In Time to Build, only code integrated into projects count. Developers will receive a share of the $25,000 Bitcoin prize pool exclusively if their code is accepted and merged by the maintainers of the open source projects that they contribute to. Quote, there's never been a better time to build on Bitcoin, said Roy Scheinfeld, CEO of Breeze. Quote, developers now have the tools to bring peer to peer money to anyone, anywhere, anytime. This finally unlocks the transfer of value just as the Internet unlocked the transfer of information. We've launched Time to Build to spark the next generation of open source apps, and we can't wait to see what they create.
Over 45 developer communities across Africa, Asia, Latin America, Europe, and North America have joined the initiative. Kevin Hurley, cofounder and CTO of Lightspark, as well as a competition judge emphasized, quote, Bitcoin's potential as a programmable global money is finally within reach and its developers who will take it the rest of the way. Time to build is the perfect stage for builders to put that to the test. The requirements established by the initiative include integration of Breeze's nodeless SDK into an existing open source project. The project must have a FOSS license, f o s s, free and open source software, an active community, and real users.
The code must be merged or accepted by the project maintainers. No limit on the number of participants per team. That's gonna be interesting. I think they should actually limit that, but I guess they kinda can't. And then finally, evaluation by a jury of Bitcoin industry experts, including entrepreneur, investor, and author, Jeff Booth, and plan b network director, Giacomo Zucco. The 25,000 Bitcoin prize pool will be distributed across three tiers. $7,000 for top ranked projects, 3,500 for mid ranked ones, and 1,000 for selected projects. Special prizes are also planned including programs at Draper University and Pleb Labs Startup School.
The competition schedule is structured to give developers the necessary time not only to write code, but to collaborate with project maintainers. The development phase is from October 7 through November 15 of this year. The merge period will be between November 16 and December 16 of this year, and the winner announcement will be 01/08/2026. The goal of Time to Build is to incentivize integrations that will actually be used by real users contributing to the adoption of Bitcoin as a global payment infrastructure. So, time to build is spelled time, the number two, and build.
And honestly, all you pre all we have to really do is we'll just say this, and search Google for time to build, and time to build dot dev. Let's make sure that this is it. Yep. Loading Breeze SDK. So this looks like it's it. Press any key anywhere to continue. La la la la la. And there we go. Okay. So time to build. It's time to build, again, time, the number two, build dot dev. Time to build dot dev. Go look for time to build dot dev if you wanna get in on this stuff. Alright. So that's it. We're back at a $122,006 per Bitcoin, and I will 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
[00:56:20] Unknown:
great day.
It is 08:53AM Pacific Daylight Time. It's the October 2025, and this is episode eleven eighty four of Bitcoin and Morgan Stanley advises up to 4% Bitcoin allocation in portfolios. That's gonna be how we start off the day. It's all the news you can use about Bitcoin and more. It's why you're here at the Bitcoin and podcast. Then we're gonna talk about Facet, the first stablecoin based Islamic digital bank. I think the permutations of all this stuff is getting just a little bit out of hand, but, you never know. It it it could be worth something. And then the S and P Global is going to be in the news, and then we gotta talk about Robinhood and their CEO, Tenev, saying stuff. And that's we'll we'll get to that. I promise I'll have a clip of it. And then and then Opendoor is ready to accept Bitcoin payments to purchase real estate.
A specific kind of real estate, but real estate nonetheless. And then, life insurance will be in the news with Bitcoin as well as the NYSE parent investing in Polymarket of all damn things. And then we'll have a little bit of NACA news because it's not really doing all that well. NACA, NACA, NACA, not gonna make it. So, what else is here? We have oh, Breeze. Breeze wallet is back in the news, and we will end up there. But first, Morgan Stanley advises up to 4% Bitcoin allocation in portfolios. This is Micah Zimmerman for Bitcoin Magazine. Morgan Stanley has released a report advising their clients to have a maximum allocation between 24% of their portfolios to Bitcoin and, God forbid, crypto. The new report issued on October 1 outlines crypto and then in parentheses, primarily Bitcoin allocations based on investor risk profiles.
Opportunistic growth portfolios, which target higher risk and higher return strategies, should include up to 4% in crypto, while balanced growth portfolios are capped at 2%, according to the report. The committee who wrote the report characterized Bitcoin as a scarce asset comparable to digital gold, suggesting that it now occupies a legitimate role within diversified investment strategies. Quote, we place the emerging asset class within real assets and focus our commentary here primarily on Bitcoin, which we consider a scarce asset akin to digital gold, the report read. While Morgan Stanley acknowledged the asset classes historical volatility and potential for high correlation with broader market stress during periods or rather broader markets during stress periods, it also noted that crypto's total returns and structural maturity have improved in recent years.
Then Morgan Stanley said that clients should regularly rebalance their multi asset portfolios ideally every quarter or at least once a year. Quote, sure, rebalancing will dampen the potential for swelling positions, which could mean outsized portfolio level volatility and cryptocurrency risk contributions in periods of macro and market stress, according to the report. The report also recommended gaining exposure through exchange exchange traded products to manage volatility and prevent portfolio distortions during strong uptrends. This approach indicates a measured but open stance towards integrating crypto within traditional investment frameworks.
The announcement coincided with Bitcoin reaching a new all time high of roughly a $126,200 today. The move extended extended a nine day rally supported by spot ETF inflows and a weakening US dollar amid renewed government shutdown concerns. Morgan Stanley's latest guidance follows its September decision to expand digital asset access through its E Trade platform, enabling trading in Bitcoin and other crypto via a zero hash partnership. So what are they saying here? They're saying buy Bitcoin, but by God, you better rebalance. Otherwise, you could get overweight on Bitcoin in times of upward volatility. Now here's my question.
If your portfolio has becomes overbalanced on Bitcoin because it's just going through the roof, and your response is to sell some so that you have a better position on, oh, I don't know, energy stocks. I don't think we live in that world anymore. I I really don't. I mean, sure, if you're in nothing but legacy markets, legacy equities, legacy bonds, legacy whatever, then, sure, go ahead and rebalance until your heart's content. But you're basically squelching the asymmetry asymmetric trade that Bitcoin has always been. So I'm not sure if the second part of the Morgan Stanley reports advice should be taken very seriously by people who know what this asset is.
But on another note, Morgan Stanley is saying it. And I never kinda thought we would if you were to ask me, you know, even five years ago, if I had thought Morgan Stanley would be advising people to ask to allocate two to 4% of their portfolios into Bitcoin, I would say no. I think we'd have to wait a little bit longer than that, but here we are. And now we're going to Malaysia where something called Fasset, f a s s e t, wins Malaysian license to launch the first stablecoin based Islamic digital bank. Ian Allison is writing this one for CoinDesk. Facet, a digital asset investment platform, oh, there we go, has been given a provisional banking license in Malaysia, clearing the way for what it calls the world's first stablecoin powered Islamic digital bank.
The move places Facet within a regulated sandbox for Islamic fintech. Enable I did not know Islamic fintech was a deal, but, again, here we are. It enables the company to expand its existing digital asset platform into full service banking, the company said in a press release on Tuesday. With the new license, Facet plans to offer Sharia compliant savings, financing, and investment services that use stablecoins and, God forbid, tokenized assets, which we will get into here in a moment. Customers will be able to hold deposits, invest in United States stocks, gold, and crypto, and spend through a planned Visa linked crypto card.
CEO Mohammed Rafi Hussein said the new license combines, quote, the credibility of a global banking institution with the innovation of a fintech insurgent. Oh, use an insurgent. So given the history of of western culture and the clash with the Muslim world, I'm not sure if insurgent is the word that I would have chosen, but, hey, again, we live in this world. Facet also plans to roll out, quote, own, end quote, god forbid, an Ethereum layer two network build on arbitrum to settle regulated real world assets on chain. The company said that its stablecoin infrastructure allows users to avoid interest bearing products while preserving the value of their assets against inflation or currency swings because Sharia law forbids all forms of interest known as reba.
A facet aims to address a persistent gap in financial inclusion across the $5,000,000,000,000 global Islamic finance industry, Access to halal asset backed financial products remain limited in many Muslim majority regions, especially in Asia and Africa. Back in March, Facet won a license to operate in Dubai as a virtual asset service provider, and the Dubai and Jakarta based company said its platform is already processing more than $6,000,000,000 in annualized transaction volume across a 125 countries. So why is it important? Well, I mean, I I don't know that much about Facet, but it is yet another Islamic based company or, well, plat we'll just call it platform, investment platform that is embracing crypto. Now, yeah, I know. You you know I hate the word crypto, but it it is what it is, and we gotta deal with it because stablecoins aren't going away. But here's here this becomes my question.
At one point or another, I get the feeling that all stablecoins are going to offer some sort of yield. I don't think that there will be one unless it's specifically designed to never be asset bearing, I don't think that there's going to be a stablecoin that doesn't convert over into some kind of yield bearing thing. I don't like it because, again, the question always is where does the yield come from? But that doesn't mean that these that the yahoos out there in in in the new world of fintech and Bitcoin and stablecoins and crypto won't try to figure out a way to get yield bearing stablecoins everywhere. So if that happens, then what happens with Reba and, you know, halal and, you know, Sharia based loan making, which forbids any amount of interest taken at all, not even 0.1%.
It you can make a loan, but it cannot it can you cannot charge interest on it. All you would get back is the principal. That's that's how they do their shit. Right? And even the Jews had basically described usury laws back in the Old Testament. Not supposed to charge your brother's interest on loans. If they need help, you're just you you come to the rescue. You give them the money. They work their ass off to pay you back, but only the principle. Alright? This is Abrahamic law. This is old. This is very old. This this goes back, I believe pretty sure it goes back before the split from Abrahamic or the old Judean, not Judeo Christian, but the old Judean religion, the Jews. You're talking like straight up Jewishness. Right? Before the split of the Jews into Jews and Islam, and that was from Abraham. So this is an old old argument that has been made about, you know, like, I remember years ago, I I think it was, like, four or five was the first time I saw somebody that was basically Muslim and talking about Bitcoin in the context of Islamic law, Reba, you know, Halal, all all this stuff.
And essentially saying that as far as scholars were concerned in their faith, there was nothing about Bitcoin itself that would disallow it from being used as money in all of Islam. So that's the that's a large section of the population of the planet, and it can't really be ignored. So I'll watch it and see what happens, but I still I wonder, you know, are they gonna have to eventually create their own Islamic stablecoin that absolutely guarantees that no such thing as yield could potentially be made? So there's that.
Now on to the S and P Global. They're launching the first hybrid index combining cryptocurrencies and crypto related stocks. I don't necessarily take this as good news and neither do the markets because as we see, the price of Bitcoin is not due. Well, it's okay. It's not that it's not doing well. It's fine. We were nine days up, but now we are coming back down. We've got, I think, a two and a half percent loss as of today because lots of positive Bitcoin news came out. So what's what's our response? Sell the news. That's how this works, apparently.
By the way, this is James Hunt writing for the block dot c o, S and P Global, which is the company behind the S and P five hundred and the Dow Jones Industrial Average, announced its first hybrid cryptocurrency and crypto related stocks index in collaboration with Denari. The S and P Digital Market's 50 will aggregate 15 major cryptocurrencies and 35 stocks connected to companies involved in digital asset operations, infrastructure providers, financial services, blockchain applications, and supporting technologies designed to meet the growing investor demand for diversified exposure to digital assets. Just freaking buy Bitcoin. Anyway, in a statement on Tuesday, S and P Global said, this will provide market participants interested in exploring crypto linked opportunities with a measure of performance across both sides of the crypto ecosystem.
Oh, it's just so terror. I hate reading this quote. Cryptocurrencies and the broader digital asset industry have moved from the margins into a more established role in global markets. S and P Dow Jones Indices chief product officer, Cameron Drinkwater. I I shouldn't make fun of anybody's name, but that he must have caught he must have caught some shit when he was in school. Quote, S and P DJI's expanded index suite offers market participants consistent rules based tools to evaluate and gain exposure from North America to Europe all the way to Asia. Market participants are beginning to treat digital assets as part of their investment toolkit, whether for diversification, growth, or innovation strategies, end quote.
No single asset will exceed 5% of the digital market's 50, with minimum market caps of a $100,000,000 for equities and 300,000,000 for cryptocurrencies as first reported by Barrons. Those caps would currently apply to the top 276 cryptocurrencies according to the block's prices page. I gotta pause. Because when you when you take when you take the market cap down to 300,000,000, you get so much shit. In fact, out of 276 cryptocurrencies, only one of them is worth something. So we have 275 altcoins that are gonna be in this fund or, well, this index. Anyway, the index will follow S and P standards quarterly rebalancing, of course, because, god forbid, you let Bitcoin run. And governance rules through although its full constituent list has yet to be released, the S and P Digital Markets 50 joins the firm's existing series of digital asset benchmarks, the S and P cryptocurrency indices, and the S and P digital market indices.
Denari, a provider of tokenized securities infrastructure. It's coming, guys. It it it it's on its way. It plans to launch an investable token tracking the new benchmark with the index set to go live on its d shares platform by year end. Oh, great. Yet one more token that represents, well, a share of the s and p 50. Quote, by making the s and p digital markets 50 investable via D shares, we are not just tokenizing an index. We are demonstrating how blockchain infrastructure can modernize trusted benchmarks. Denari chief business officer Anna woah.
Robble Robblewska, that's an interesting name, said, quote, for the first time, investors can access both US equities and digital assets in a single transparent product. This launch shows how on chain technology can expand the reach of established financial standards, making them more efficient, accessible, and globally relevant. Coinbase, Kraken, Gemini, and, of course, Robinhood, which we will talk about here in a moment, are among the crypto exchanges looking to grow their tokenized equities businesses, quote, I think tokenization is like a freight train, Robinhood CEO, Vlad Tenev, said last week at Singapore's Token Twenty Forty Nine Conference, quote, it can't be stopped.
And, eventually, it's going to eat the entire financial system. We're gonna have more about 10 of here in just a second. But first, the circle p is open for business. It's where I bring plebs that have goods and services for sale to plebs just like you that want to purchase said goods and services. But you gotta do it in Bitcoin because if you're not selling your goods and services in Bitcoin, you're not in the circle p. Today, it's Perma Nerd. And his website is sats,thenumberfour,snacks.com. Satsforsnacks.com. That's satsforsnacks.com.
You can get just peachy. What is it? Enjoy the taste of summer all year long with our 100% freeze dried peaches. Each piece is freeze dried to lock in flavor, color, and nutrients. Light, crunchy peaches that taste just like fresh fruit without added sugar or preservatives. Perfect as a healthy snack straight from the bag, a topping for your yogurt or oatmeal, or an easy way to boost smoothies and baking. Lightweight and shelf stable, They're great for hiking, school lunches, or pantry storage. 100% peaches, nothing else. Again, no added sugar, no preservatives, no artificial ingredients. Just crunchy, naturally sweet, and nutrient dense freeze dried peaches. He's also got freeze dried mangoes. He also has a medley pack. He's got bananas.
He also somewhere in here, he's got apples, I thought, but maybe maybe not. And he's got comfrey salve. Okay. So a little bit about this. Comfrey is a healing plant. It's been used for centuries as a healing plant. And just a couple of days ago, I got my, well, my perma pack from Perma Nerd. He sent it to me to let me try out some stuff. It's delicious. The bananas are delicious. The peaches are delicious. The freeze dried apples were awesome. It was just this is amazing stuff, but the comfrey salve, oh my god. My cat mauled the back of my hand. I mean, I'd say mauled. I don't know what else to put it, but she scratched it up pretty good. Yeah. It was bleeding. It it kinda bled for a while. I actually had to go get, like, some tissue and kinda keep dabbing until the the blood coagulated so that it would stop bleeding.
And I've been using the Comfrey salve on this to heal these cuts, and they're almost healed. This was, like, three days ago. They're almost healed. It's like I mean, it's like I can barely even see scabs at this point anymore. And remember, I was bleeding to the point that I had to dab it. Like, there's, like, one, two, three, four, five, six places where I was bleeding from on the black back of my hand. And I just started using this conferee salve about three, four, five times a day as much as I could remember. Just rub it on there. Boom. Dude, the healing properties of confry demonstrate themselves.
You gotta go to sats4snacks.com. That's sats,thenumberfour,snacks.com. Mention Bitcoin and anywhere that you can and get 5% off. Bitcoin and is your key to 5% off of Sats four snacks, freeze dried snacks, and the best comfrey salve I've come across yet. Back to Tenev.
[00:21:38] Unknown:
I'm just gonna let him speak for himself. And I think real estate's a big opportunity. I think it's it's smart that they're aggressively pursuing that, because everyone wants access to high quality real estate, particularly the mass market. But isn't it true real estate is actually more complex? I mean, they tried this before. It hasn't really worked. It has, some similarities, to a private company, actually. If you think about what a real estate, investment looks like, you you create a corporation. Using that corporation, you acquire some assets. It has some cost, which you wanna minimize as much as possible. Maintenance.
It has revenues like rent receivables or depending on how you use it. So if you can tokenize a private company, that same technology can actually be used to to to tokenize real estate, be it residential, commercial. And, yeah, I I think we figured out how to do it. It's just a question of regulation and what the right products are for for different groups of customers.
[00:22:42] David Bennett:
Well, it's gonna happen. This tokenization of real world assets got ahead of steam with bananas on the blockchain. If you've been listening to the show for, you know, for a few years, I used to really rant about that. And and then it just kinda died. It it kinda died with alt season. And, it's been I don't know. It kinda comes back every once in a while, but, you know, after 2018 through 2019, we really didn't hear all that much about it. Then it kinda came back a little bit again. We're gonna put real world assets on the blockchain, yada yada yada yada. And real estate has always been part of that argument. Right? The bananas on the blockchain was just dumb. But things like, what am I trying to say?
Things like, titles to your car, you know, like the title to your house, that that kind of thing. I can almost see it except that we always have to fall back to the position that it doesn't matter if your title to your car is somewhere on the blockchain. Men with guns can come take your car. They can come take your land. They can come take your house. I'm not saying not to own any of that. I'm just saying that just because it's on the blockchain doesn't mean anything. It it just doesn't. It's a record. And, sure, it it it'd be you know, I could I could see courthouses all over The United States converting over to keeping all these digital records in some kind of format that at least we know that once they were put put on on, god forbid, on the blockchain, that they that they wouldn't be able to be, oh, not converted, messed with, tampered with, changed in some way without, you know, the the hash of the original not matching the hash with the new. So there's there is some kind of utility in this, but what what we're looking at here is this ridiculous, ridiculous distraction from Bitcoin. Because it's like real world asset watch list is the people that dropped this clip from 10 of saying that. And here's the here's the tweet. Says, breaking.
Of course, everything's breaking. Robinhood CEO during Bloomberg interview, quote, real estate tokenization is a freight train. We figured out how to do it. Just waiting for regulations. And then the tweet says trillions incoming. Now it's this kind of bullshit hyperbole that gets everybody into trouble. So just please understand that this is probably not going to last as long as people think it is. Tokenization of assets is coming. It's just I don't think it's going to mean quite what they think they want it to mean, if that makes sense. But we're not done with real estate and Bitcoin.
Atlas twenty one says this, Opendoor is ready to accept Bitcoin payments for home purchases. Alrighty. Well, let's see what they these people have to say on October 6. Khaz Nejatien Nejatien. Nejatien. I'm gonna pronounce it that way. Nejatien, CEO of Opendoor Technologies, announced the company's intention to integrate Bitcoin and other cryptocurrencies as a payment method for home purchases. The announcement came during an exchange on x when Nejatien responded to a user suggesting the introduction of digital asset payments by stating, quote, we will. We just need to prioritize it.
Following the news, Opendoor stock rose to $9.29, which was up from a previous close of $8.11. The San Francisco based company operates in 44 US markets and boasts a market cap of $6,220,000,000, having generated 1,570,000,000.00 in revenue in the 2025. That's actually rather impressive. The company employs approximately 1,470 people and offers real estate buying and selling services through its mobile app, financing options, and an infrastructure that could be easily adapted to support cryptocurrency payments. Opendoor's move is part of a broader trend in which in which real estate operators worldwide are integrating Bitcoin and other digital assets as payment options in their business operations. And last September, Rak Properties, r a k Properties, one of the leading real estate developers in The United Arab Emirates, partnered with fintech company HubPay to accept Bitcoin, ether, and USDT for property purchases with all transactions converted into dirhams through regulated channels. The Emirati initiative aims to attract younger digitally native investors aligning with Ras Al Khaimani's or no. Hold on. Ras Al Khaimah's vision 2030 strategy for economic diversification and increased foreign investment.
As of now, Opendoor has not disclosed a specific timeline for implementing digital asset payment capabilities nor has it specified which cryptocurrencies aside from Bitcoin the platform will accept. Well, that's actually better news than tokenized real estate. I mean, at least we can stop with the whole, you know, converting Bitcoin into fiat and then buying the house or, you know, whatever whatever it is that we need to do. Honestly, that one's good news. The 10 f, you know, the the 10 f stuff is just more distraction. Don't get distracted.
Let's run the numbers. Energy seems it's in the red, but it's not as terrible as I keep thinking it's going to be. Brent Norsey is down point 4% to 65 and 20¢ per barrel. West Texas Intermediate is down a third to $61.51, but natural gas is up three points to $3.45 per thousand. Gasoline down point six. Mirbon crude is down a half to $66.51. Gold doing rather well today. It's up a quarter of a point, but palladium is the big winner point no. Z I'm sorry. 1.59% to the upside. Gold chilling out at $3,987.8. Platinum, however, is down a point. Silver is down 2.6 back underneath $48 an ounce, and copper is up point eight.
All agriculture is in the red, except what maybe no. There's there's feeder cattle are up. But, the only thing in the green today is soybeans, which I find amazing considering that I saw a report yesterday that most of the soybean silos in the mid in the North Midwest are so at capacity that it looks to me, given from what I saw yesterday, that you might have to actually pay them to take the soybeans off your hand. Nobody can find storage. And it was a bumper crop for grains this year. It was amazing. So soybean bucking its latest trend. It's actually up point 25%.
The biggest loser today is sugar down two points. Live cattle is down point one seven, lean hogs down 1.12%, and feeder cattle is up a tenth of a point. The S and P is down a half. The Nasdaq is down point six. The Dow is down a half, and the S and P Mini is down 1.35%. And Bitcoin is having problems of its own today. A $121,180 brings us back down to a $2,420,000,000,000 market cap, and we can only purchase 30.4 ounces of shiny metal rocks with our one Bitcoin of which there are 19,931,204 and 1 third of. And average fees per block are high. 0.04 BTC taken in fees on a per block basis.
There seems to be about 25 blocks carrying 48,000 unconfirmed transactions waiting to clear at high priorities of four sats per v byte. Low priorities get you in at one. We are the hash rate's still above a zeta hash, but we are falling a bit. 1.03 zeta hashes per second is the hash rate for the Bitcoin network. It's all the security that we need. Now for a biblical scales of wealth, which was yesterday's episode of Bitcoin and, 421 sats, and I don't know who sent it to me. Oh, that's a bummer. It does the name's not resolving. Anyway, it says another banger episode, brother. Small context on The UK Bitcoin seizure and the reason they think they can only give back fiat still think that's theft, by the way.
That's what he says. The Bitcoin was purchased by the scammer as a method to flee with funds that they scam from Chinese citizens via a pretty basic stocks Ponzi scheme. So okay. Okay. So the Bitcoins were never owned by the victims. UK's thinking being that they will just make those victims whole, fiat in fiat because the fiat is what was stolen, still theft, but just some context. That's very important context. Thank you. That that's that is very helpful. I really appreciate that and God, I wish I knew what you're I wish I knew the name of this person. Reverend Hoddle from UK Thievery, it was a few, actually, that was like three episodes ago. 03/21 says, thank you, sir.
Well, what happened? Oh, Perminor just came in. Perminor just came in. Hold on. Sorry. I didn't mean to confuse everybody. My my fountain.fm app flipped over on me. Reverend huddle dot huddle says, thank you, sir. Chicago BitDevs is Thursday. Okay. So Chicago BitDevs is Thursday, October 9 at the strike office at 6PM. If anybody listening to me that's in Chicago that wants to go to bit devs, it's this Thursday, October 9, that's like a couple of days, is gonna be at the strike office at 6PM. I'm assuming that's central time. So let's go back. Perma Nerd just came in and said, wake up people. The government is not better than you with 210 SATs. Thank you, Perma Nerd.
God's death with two thirty seven says, thank you, sir. No, thank you. Oh. Oggi Chute with 5,000 sats says, LOL, Europe wants to go to war with Russia. Your godforsaken country and entirety of Europe are financing Ukraine's military precisely so that other European countries wouldn't have to defend against Russia. Take my sats, and I will take another break from listening. I've done pissed him off. Well, hey. You you just can't please everybody all the time. If you have any opinions whatsoever, someone else is not gonna hold that opinion and it's gonna piss them off. But I still appreciate Auggie Chute from coming in here and actually saying how he feels.
Everybody has an opinion, they're all valid. Alright? So it doesn't matter what I think about Ukraine, or what I think about Russia, or what I think about Europe. Right? It really depends on what you think about all this. And if you disagree with me, then let me know. Let's see here. What Rod oh, shit. Rod Paul Rod Palmer with 10,000 sats says, AI slash chip market smells super fishy. You're damn right it smells super fishy. I totally agree. Pleb to Polymarket? Hold on. No. Pleb to Polymath with 2,100 SATs says, great episode. Turn this one up and get educated.
Wartime with a 133 SATs says, send it. I appreciate that, brother. Let's see who else is here. Pies with one twenty one says thank you, sir. No. Thank you. Ankh Morpock with 500 says keep doing what you're doing. I think I've read that already. That's the weather report. Welcome to part two of the news that you can use. Bitcoin life insurer, meanwhile, raises $82,000,000. This is out of Bitcoin magazine, Vivek Singh, writing. Meanwhile, the world's first regulated Bitcoin life insurance company has secured 82,000,000 in funding to expand its offering of Bitcoin denominated insurance and retirement products.
The funding round, co led by Bain Capital Crypto and Juan Ventures with participation from Pantera Capital, Apollo, Northwestern Mutual Future Ventures, and Stillmark brings the company's total 2025 funding to a $122,000,000. The Bermuda god. They're always in Bermuda. The Bermuda based company regulated by the Bermuda Monetary Authority has pioneered several innovations in the Bitcoin financial sector, including becoming the first Bitcoin denominated life insurer globally and securing Bermuda's first long term insurance license. Meanwhile's products combine traditional life insurance and annuities with Bitcoin, offering policyholders protection against inflation while providing secure wealth transfer options.
Quote, life insurers have always provided the steady long term capital that keeps financial markets moving, said Zach Townsend, CEO of Meanwhile. Quote, we're bringing that same role to Bitcoin, helping families save and protect wealth and BTC while giving institutions new ways to earn returns and launch bitcoin index products that are compliant and easy to scale. This raise lets us build on what's working and expand it with partners around the world. The company has reported over 200% growth in Bitcoin assets under management, reflecting increasing demand from both individuals and institutions seeking Bitcoin denominated savings and corporate treasury products, Meanwhile generates Bitcoin returns through conservative lending and private credit, establishing itself as one of the world's largest long duration BTC lenders.
Chris Ahn, partner at Juan Ventures, emphasized the importance of Meanwhile's role in the evolving Bitcoin economy. Quote, just as The US economy was built on insurance, pensions, and mortgages, the Bitcoin economy will require its own long duration financial products. Meanwhile, is the first mover in this category, and we believe it will unlock a new wave of innovation across Bitcoin denominated markets. The funding will accelerate Meanwhile's global expansion through institutional partnerships, enabling broader access to BTC denominated life insurance, annuities, savings, and insurance bonds. The company operates under strict regulatory oversight, meeting solvency and reserve standards comparable to established traditional insurers.
Founded by fintech entrepreneurs, Zac Townsend and Max Gassner, meanwhile, has positioned itself at the intersection of traditional finance and Bitcoin innovation. So life insurance that's Bitcoin based. This is the first time I've heard of meanwhile. Although I have heard the name Zach Townsend before, I'm gonna have to dig into this a little bit because that's insurance is really the next thing that's on deck for Bitcoin right as and after the the tokenization of real world assets. I honestly think that insurance products are probably a better play. And and and I get the feeling that somehow or another, pensions are gonna start falling to Bitcoin, all like in general mortgages. I mean, that was that that's that's the thing that really kinda raised the hackles.
Where where what'd it say? Oh, do do do. I think it was like yeah. Just as The US economy was built on insurance, pensions, and mortgages. That sentence is kinda frightening. I thought The US economy was built on manufacturing. Now, it's not now. But The US economy as what we have now is the legacy that what was built a long time ago. And it wasn't just built on insurance, pensions, and mortgages. Right? It was built on construction. It was built on manufacturing. A couple of times, it was built on a wartime economy, but we won't get into that. I'm just saying it wasn't just built on insurance, pensions, and mortgages.
That's what that's what is holding up the entire thing right now. And from what I see, pensions are not doing well. It's unless they start buying Bitcoin and holding it themselves and not in an ETF. I'm just saying. Now the NYSE parent has invested $2,000,000,000 in Polymarket, giving it a $9,000,000,000 valuation, Adrian Zmunsky, Cointelegraph. The Intercontinental Exchange, which is the parent company of the New York Stock Exchange, has invested 2,000,000,000 in cryptocurrency based prediction market, Polymarket. And according to a Tuesday Polymarket x post, the ICE invested $2,000,000,000 in the prediction market.
The deal values PolyMarket at $9,000,000,000 post money valuation. ICE's NYSE is the world's largest stock exchange by market cap exceeding 25,000,000,000,000, oh god, as of July 2024. Its interest is the latest move that fuses The United States traditional financial landscape with the cryptocurrency industry, pausing to say no. They don't wanna fuse it with the cryptocurrency industry. They want a different form of gambling. They want a different doorway into the casino. That's what this is about. This has nothing as much to do with cryptocurrency industry as it does. We've gotta fuse the NYSE tokenized assets and a new form of gambling. We're calling it prediction markets.
That's just a that's just a fancy way of saying casino. Just saying. Polymarket is a crypto powered prediction market where people buy and sell, quote, shares in real world event outcomes like elections, sports, crypto prices, AKA gambling, with market prices reflecting the crowd's implied probabilities. Trades typically settle in stablecoin, and markets are resolved against predefined verifiable resources with access for US users restricted due to US regulatory, you know, reasons. The news also follows recent reports that Polymarket is indeed reportedly preparing a US launch that could value the company as high as 10,000,000,000.
And in early September, the US Commodity Futures Trading Commission issued a no action letter on QCX granting poly market relief from certain federal reporting and record keeping requirements. That stance marks a notable shift from prior years. In mid November twenty twenty four, the United States Federal Bureau of Investigation went as far as to raid the home of Polymarket CEO, Shane Kopplin, seizing his phone in electronics. The CFTC also issued a cease and desist order against Polymarket in early twenty twenty two. This followed Polymarket's July acquisition of The US licensed derivatives exchange and clearinghouse, QCEX, for a $112,000,000 in preparation for its reentry into The US market. In recent times, the prediction market has undergone significant leadership changes.
And in late August, Polymarket added Donald Trump junior, the son of US president Donald Trump, to its advisory board after receiving a strategic investment from self described politically aligned vehicle seventeen eighty nine Capital. The financial details are unclear, but according to some estimates, the investment was worth double digit millions of dollars. So NYSE investing directly into Polymarket. I don't think this is gonna be good. I mean, the the degenerates are gonna love it, because I guarantee you this is this is one of the entry points into tokenized equities. I'm just I'm just saying. They're they're I think they're building the infrastructure, and and they're gonna be using Polymarket as a potential back end for essentially doing what we do on the NYSE anyway, which is gamble our hard earned money against people that know a hell of a lot more information than you do.
Exactly one year ago today, Kindly MD stock opened at a dollar and 3¢, which is exactly where it closed last night. You can't make this shit up. That's Daniel Prince. And if you don't know who Daniel Prince is, he's got the once bitten, podcast. He's, one of my I I I consider Daniel a good friend. Been on his podcast a couple of times with him and his daughter, and I always have a really good time. But he's got this graph here on this post on x that shows the chart of knock of NACA. And if that's that's the ticker symbol of NACAMD. And if you don't know what NACAMD is, I've talked about it on the show ever since they kinda opened up. But Nakamoto is it was a company and Kindly MD was a company, and they merged and took on the ticker symbol n a k a, Naka.
And it's not gonna do well. It's just it looks like garbage. It looks like it's trading like a shit coin. And these were this was supposed to be not Daniel. This is supposed to be David Bailey's big sweetheart deal of becoming a Bitcoin treasury company himself, and it doesn't look like it's working out at all because it's exactly where it started from. It's after all the hype, after all the buying of the Bitcoin, after all the announcements of announcements of becoming a Bitcoin treasury company, they have not moved the needle. Let's see. They were at basically, at the May, they were at, like, a buck $0.03, something like that. No. No. No. In at at the February, they were at a buck $0.03, and now they're chilling out at a dollar $0.03.
I mean, it's like the nothing happened. This is this this is the alarm bell. This is Red Flag and Canary in the coal mine all wrapped up together with a nice, neat little bow that says, stop buying the new treasury companies. In fact, I don't even buy treasury companies. I don't recommend any of that crap. But, hell, if you want to, then buy something established. Stop going trying to get the next strategy, you know, because it was sir it sure as shit wasn't NACA, but they're not giving up. They're not give they're not gonna give up because James Rubin from decryp.c0 has this one.
Bitcoin Treasury, Kindly, MD, is going to issue $250,000,000 in convertible debt with Nasdaq listed ant alpha. I don't think it's gonna work the way they think it's gonna work, but kindly, MD said on Tuesday it plans to boost its Bitcoin holdings through a five year $250,000,000 secured convertible note deal between its Nakamoto Holdings treasury unit and Ant Alpha as part of a broader partnership between the two Nasdaq listed firms. Salt Lake City, Utah based Kindly MD, a health care data company that pivoted to Bitcoin accumulation in May after merging with Nakamoto, said it intends to use the convertible debt for, quote, long term financing with less dilution risk to the shareholders compared to standard convertible debt and for general corporate purposes.
This partnership represents the power of Bitcoin companies backing Bitcoin companies, Kindly MD chair and CEO David Bailey said in a statement. Have you looked at your chart lately there, Dave? Quote, together with AntAlpha, we are not only addressing today's financing needs, but also laying the foundation for future structures tailored for the unique requirements of Bitcoin treasury companies. This is the first step in what we expect will be a long series of initiatives to benefit our portfolio, our shareholders, and the Bitcoin ecosystem at large.
Suit speak. It's just suit speak. It said nothing. It it I'm just being honest. Laying the foundation. What is that? What is today's financing needs? Can you describe that, please? Future structures. What are they? And you say that they're tailored to the unique requirements of Bitcoin treasury companies. How are they tailored? And could you describe exactly what the unique requirements of Bitcoin treasury companies actually is? See, these are these are the questions that I begin asking myself every single time I get a hold of a paragraph of suit speak. Continuing on the announcement, follows a challenging period for KindlyMD with its price dropping more than 77% over the past month to trade at just above a buck per share, its lowest mark since late twenty twenty four according to Yahoo Finance.
Last month, Bailey cautioned that the firm could be headed for volatility and said he would prefer naysayer investors leave immediately, telling them the firm had reached a point of uncertainty in a shareholder letter. Not good, dude. The company submitted an s three registration to the US Securities and Exchange Commission a few days prior to Bailey's comments, noting that a $200,000,000 private placement in a public equity offering offered shares to investors at a discount. The company intends to use the proceeds from the potential financing announced on Monday to replace a prior $203,000,000 Bitcoin secured credit from two Prime Lending Limited, although this facility will remain available, the company said. Now now Bitcoin has been gaining significant ground during the US government shut shut down as many investors have viewed it as a safe haven asset that would protect them against a potential decline in the value of the US dollar.
Kindly, MD is the nineteenth largest Bitcoin treasury with holdings of 5,765 BTC according to Bitcoin treasuries. That's about $718,000,000 in today's market, and Bitcoin was recently changing hands at about a 124,800. Separately, Antalpa and Tether are spearheading an effort to raise 200,000,000 for a crypto treasury company based on x u a t, Tether's token representing ownership of physical gold held in secure vaults, Bloomberg reported last week, citing unnamed sources. So ant alpha seems to be all over the place. I guess it's something to watch. I don't want to see another FTX.
Last up for the day, Breeze, together with Tether. Oh my god. Now Tether's everywhere. LightSpark and other industry players launches a $25,000 contest to integrate Bitcoin into the most widely used open source software. Breeze, in collaboration with Tether, Lightspark, Draper University, PlebLab, Geyser Fund, Plan b Network, and Folger Ventures has announced the launch of Time to Build, a challenge aimed at developers with the goal of integrating Bitcoin into existing open source applications used by millions of people. The initiative stands out from traditional hackathons and bounty programs.
In Time to Build, only code integrated into projects count. Developers will receive a share of the $25,000 Bitcoin prize pool exclusively if their code is accepted and merged by the maintainers of the open source projects that they contribute to. Quote, there's never been a better time to build on Bitcoin, said Roy Scheinfeld, CEO of Breeze. Quote, developers now have the tools to bring peer to peer money to anyone, anywhere, anytime. This finally unlocks the transfer of value just as the Internet unlocked the transfer of information. We've launched Time to Build to spark the next generation of open source apps, and we can't wait to see what they create.
Over 45 developer communities across Africa, Asia, Latin America, Europe, and North America have joined the initiative. Kevin Hurley, cofounder and CTO of Lightspark, as well as a competition judge emphasized, quote, Bitcoin's potential as a programmable global money is finally within reach and its developers who will take it the rest of the way. Time to build is the perfect stage for builders to put that to the test. The requirements established by the initiative include integration of Breeze's nodeless SDK into an existing open source project. The project must have a FOSS license, f o s s, free and open source software, an active community, and real users.
The code must be merged or accepted by the project maintainers. No limit on the number of participants per team. That's gonna be interesting. I think they should actually limit that, but I guess they kinda can't. And then finally, evaluation by a jury of Bitcoin industry experts, including entrepreneur, investor, and author, Jeff Booth, and plan b network director, Giacomo Zucco. The 25,000 Bitcoin prize pool will be distributed across three tiers. $7,000 for top ranked projects, 3,500 for mid ranked ones, and 1,000 for selected projects. Special prizes are also planned including programs at Draper University and Pleb Labs Startup School.
The competition schedule is structured to give developers the necessary time not only to write code, but to collaborate with project maintainers. The development phase is from October 7 through November 15 of this year. The merge period will be between November 16 and December 16 of this year, and the winner announcement will be 01/08/2026. The goal of Time to Build is to incentivize integrations that will actually be used by real users contributing to the adoption of Bitcoin as a global payment infrastructure. So, time to build is spelled time, the number two, and build.
And honestly, all you pre all we have to really do is we'll just say this, and search Google for time to build, and time to build dot dev. Let's make sure that this is it. Yep. Loading Breeze SDK. So this looks like it's it. Press any key anywhere to continue. La la la la la. And there we go. Okay. So time to build. It's time to build, again, time, the number two, build dot dev. Time to build dot dev. Go look for time to build dot dev if you wanna get in on this stuff. Alright. So that's it. We're back at a $122,006 per Bitcoin, and I will 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
[00:56:20] Unknown:
great day.
Opening, episode setup, and headline rundown
Rebalancing, volatility, and digital gold framing
Sharia, riba, and the stablecoin yield dilemma
News part two kick-off: markets and sats boosts
KindlyMD stock stagnation and strategy worries
Close: price check and sign-off
