Share on social media:

Episode 1186 of Bitcoin And . . . is LIVE!

Topics for today:

• Wallet of Satoshi is Back in U.S.
• First EU Country Buys Bitcoin
• Polymarket Adds Bitcoin Deposits
• Dorsey, Lummis Call For Deminimus Relief

Circle P:

GreatGhee
Product: 100% Pasture-Raised, Grass-Fed, Jersey Cow Ghee sourced and produced in SW Virginia
Put BitcoinAnd in the order comments section
https://greatghee.com/
nostr Profile: https://ditto.pub/@[email protected]

Today's Articles:

https://cointelegraph.com/news/luxembourg-sovereign-wealth-fund-invests-in-bitcoin-etfs


https://bitcoinmagazine.com/business/polymarket-adds-bitcoin-deposits-as-nyse-parent-ice-eyes-2-billion-investment


https://www.coindesk.com/policy/2025/10/09/uk-lifts-ban-on-crypto-etns-paving-way-for-holding-them-tax-free-in-pensions-isas


https://www.theblock.co/post/373966/blackrock-bitcoin-etf-ibit-800000-btc-aum

https://decrypt.co/343583/dorsey-lummis-push-for-bitcoin-tax-relief-as-block-expands-btc-payments


https://cointelegraph.com/news/real-reason-4-year-cycle-is-dead-arthur-hayes


https://decrypt.co/343482/decentralized-map-paying-data-google-uses-free


https://atlas21.com/usa-64-of-voters-consider-candidates-stance-on-digital-assets-crucial/


https://cointelegraph.com/news/softbank-s-paypay-acquires-40-stake-in-binance-japan


Get You're Free Comfrey Owner's Manual Here:
https://www.bitcoinandshow.com/the-comfrey-owners-manual-is-here/

Find the Bitcoin And Podcast on every podcast app here:
https://episodes.fm/1438789088

Find me on nostr
npub1vwymuey3u7mf860ndrkw3r7dz30s0srg6tqmhtjzg7umtm6rn5eq2qzugd (npub)
6389be6491e7b693e9f368ece88fcd145f07c068d2c1bbae4247b9b5ef439d32 (Hex)

Twitter:
https://twitter.com/DavidB84567

StackerNews:
stacker.news/NunyaBidness

Podcasting 2.0:
fountain.fm/show/eK5XaSb3UaLRavU3lYrI

Apple Podcasts:
tinyurl.com/unm35bjh

Mastodon:
https://noauthority.social/@NunyaBidness

Support Bitcoin And . . . on Patreon:
patreon.com/BitcoinAndPodcast

Find Lightning Network Channel partners here:
https://t.me/+bj-7w_ePsANlOGEx (Nodestrich)
https://t.me/plebnet (Plebnet)

Music by:
Flutey Funk Kevin MacLeod (incompetech.com)
Licensed under Creative Commons: By Attribution 3.0 License
creativecommons.org/licenses/by/3.0/

[00:00:02] David Bennett:

It is 08:57AM   Pacific Standard Time. It is the October   2025,   and this is episode eleven   eighty six   of Bitcoin. And am I right? Is it really November?   It certainly is. It's November   and Luxembourg   tanked   Bitcoin.   Yes. They did.   Because you sell the news. And, boy, there's some news about Luxembourg. We'll get to it. Wallet of Satoshi is back   in a little bit of a different format.   I got a bit of pushback   from,   when I I posted it on Nostra and said, hey, man. We're you know, Walter Satoshi is back. And, well, there there is an issue. Okay? For those of you who know and love Walter Satoshi,   you kinda know what it probably is. If you've never heard of Wallet of Satoshi,   well, I'm I'm gonna talk about it because it doesn't matter what the pushback is. Wallet of Satoshi is a solid wallet. And when when the samurai   stuff broke,   the regulatory guys, you know, capturing the the guys over at samurai and and   all that stuff started happening,   Wallet and Satoshi basically bailed out of town because they just didn't wanna deal with the long arm of The United States   authorized and kinda I don't blame them, honestly. So you're here for all the news that you can use about Bitcoin and more. It is the Bitcoin and podcast. I am your host,   David Bennett.  

Polymarket, we're gonna be talking about Polymarket   because, well,   they're adding Bitcoin deposits.   They are.   And then   The UK   is they I was talking yesterday about The UK kind of backtracking on stuff.   They're backtracking on some other stuff as well when it comes to the entire industry. And BlackRock,   we gotta talk about BlackRock because just like what I was saying about strategy and their $31,000,000,000   just basically sitting around doing nothing but buying Bitcoin,   you can't argue with success. Somebody makes $31,000,000,000   just, you know,   just because they bought into the good asset.  

You can't that's success, and you can't argue with it. And I can't argue with what's going on with BlackRock either.   Dorsey and Senator Cynthia Lummis   seem to be   singing the same song   about tax relief, which makes sense because it was just yesterday that I told you about square Bitcoin. And if you don't know what that is,   I'll probably say a few words about it, but I go in-depth on yesterday's episode of Bitcoin. And   Arthur Hayes.   He has some   he has his own view about the four year Bitcoin cycle.   And we've been so   steeped in the four year cycle. I   I kinda think   that it's worthwhile   taking a look at this cycle from a couple of different views, so we're gonna   see what Arthur has to say about it. And then a decentralized   map,   OpenLedger's   latest edition   of Sense Map.  

We're gonna talk about it.   It's kinda creeping me out a little bit, and   maybe I'm wrong   because I haven't read the whole thing yet. You're gonna read it with me. But there's,   with this quick scan that I took of that particular article   kinda gives me the creeps.   And United States voters   do consider   digital assets   as part of their reckoning when it comes to who they're gonna vote for, and then SoftBank   is gonna be in the news. But we really need to get to this Luxembourg   stuff.   At about 02:05AM   my time, Pacific Standard Time,   this particular   CoinDesk article dropped is written by Ian Allison   entitled   Luxembourg   claims   bragging rights   as the first Eurozone nation   to invest in Bitcoin.  

It not crypto,   but Bitcoin   with a catch.   We'll get to it right now. A Luxembourg sovereign wealth fund   has invested   a 1%   sliver   of its holdings into Bitcoin   ETFs,   making it the first state level fund in the Eurozone to do so according to a representative   for the Agency for the Development of Luxembourg's Financial Center.   European nations, Finland, Georgia, and The UK   also hold Bitcoin, although most of that crypto   is sourced from criminal seizures according to Bitbo, with the exception of Georgia,   a nation that is outside the Eurozone   that owns a whopping 66   BTC for investment purposes.  

During his presentation of the 2026   budget at the Chambre   des Deputes, Luxembourg finance ministers Gillies Roth,   Good   god. Gilius Roth revealed the European nation's   intergenerational   sovereign wealth fund or the FSIL   has indeed invested   1% of its holdings into Bitcoin.   Quote,   Recognizing   the growing maturity of the new asset class   and underlining Luxembourg's leadership in digital finance,   this investment   is an application of the FSIL's   new investment policy, which was approved by the government in July 2025,   said Bob Kiefer,   director of the treasury,   Luxembourg.  

Well, Luxembourg,   one of the least populated   countries in Europe,   about 682,000   people approximately,   introduced the Intergenerational   Sovereign Fund back   in   2014   intended to build up a reserve for future generations.   The fund holds a modest $730,000,000   of assets,   most of its investments   being in high quality bonds.   Oh, oh my.   That's oh oh oh, that's a painful, painful position to have at this point in time.   Anyway, under the revised framework, the FSIL   will continue to invest in equity and debt markets while now also being authorized to allocate up to 15%   of its assets to alternative investments.  

These include   private equity and real estate as well as crypto assets. To avoid operational risks,   The exposure to Bitcoin has been taken through the selection of ETFs,   according to Kiefer.   Some might argue that we're committing too little too late.   Others will point out the volatility and speculative nature of the investment.   Yet given the FSIL's   particular profile and mission,   the funds management board concluded   that a 1% allocation strikes the right balance while sending a clear message about Bitcoin's long term potential.   Obviously, what's right for the FSIL   might not be right for other investors.  

So there's the article. That's Luxembourg   apparently being the first to dip their toes,   but they're doing it through the Bitcoin ETFs. They don't want to actually hold the asset themselves.   And I'm just, you know, I'm just not gonna cry about it. I'm just it it it they have to do what they have to do.   They may have more policy strictures than we are even aware of.   It's okay. It's it's it's just noteworthy   that Luxembourg   has   presented 1% of their nation's sovereign wealth fund that's been alive since 2014   into Bitcoin first.  

And for right now, it seems to be Bitcoin only.   However, I would expect that to change because   everybody has to go through their bout of shit coinery before they get burned so bad that they're going, you know, we probably should just use Bitcoin.   Okay. On to Wallet of Satoshi. They're back in The United States, and they're back on both   the Apple App Store and the Android Play Store or or sorry Google Play Store. So that's it's for both iOS and Android.   If you were a Wallet of Satoshi user,   this should make you happy.   It makes me happy.  

Wallet of Satoshi was a great mobile app for The United States. Well, actually, for anybody that had, you know, that had it on their mobile phone. It was it's simple to use   at the at that time   when back in the day when Walter Satoshi   first came out, there was more   guidance   concerning   how to self custody   with Walter Satoshi, and it was a little easier to do. They're coming back out and they're saying, like, for instance, I posted   we are so back and then have have a screenshot of a tweet from wallet of Satoshi's   x account, and it says, a new Bitcoin era begins now.  

The world's best lightning wallet.   Now   self custody   available worldwide today. Well, there's a little bit of an asterisk right there.   It according to Wallet of Satoshi,   it can be   self custody,   but many people are pushing back on me like Muslim Bitcoiner, and this is all this stuff is happening for me on on Noster,   says,   guys, we really shouldn't be shilling this. Wallet of Satoshi uses Spark,   which means all of the Lightning transactions,   Bolt 11,   and your balance are public.   Much better wallets out there that are actually self custodial.   Okay.  

So this this goes back to and and I   I I don't disagree with Muslim Bitcoin.   This boils down to the use case of whatever particular wallet you select.   If you want if like, no hopefully, nobody in my audience would be foolish enough   to put their entire stack of Bitcoin into lightning in the first place,   much less   trust something like Wallet of Satoshi to custody that entire stack.   That's not what this wallet is for. This wallet is for like running around money, zapping people on nostril money,   you know, boosting my show. You you you would be able to boost my show with a wallet of Satoshi wallet. So,   you know, if you wanted to do that, if you wanted to stream me Satoshis, if you whatever. Right? Right? Whatever. You can just use it to pay almost any lightning invoice that's out there.  

It's a slick wallet. It works very, very well. It's rock solid. It doesn't really screw up. It's it's always was my favorite go to wallet before I found Albi.   The guys over at Albi are basically my go to lightning stuff   right now, and they have been for, you know, well, actually, ever since Wallet of Satoshi left.   I love my Albi wallet. I love the way it works. I love the way it works with my mobile app. I like the fact that that   I actually host   my own ALBEE on my own node, which is provided by Start nine.   It's   it's it's an amazing piece of software, and I have no reason to go back to Wallet of Satoshi.  

I'm just saying   that if it   if you need a simple to use wallet, you might look at Wallet of Satoshi, but, you know, don't use it for something over, like, $5 or $10 or whatever it is that you're comfortable putting in a brown paper bag and lighting on fire.   Right? It's not it's never was designed   to be something where you held all of your wealth.   So   looking into it a little bit further on their website, which is walletofsatoshi,all1word,.com,   walletofsatoshi.com,   under their frequently asked questions, they're   one of the frequently asked questions is, can I switch   between self custodial   and custodial and the answer is yes?  

You can use the mode that's available in your region and move your funds between modes   not nodes but modes with beginning with an m as in Mary   as needed   follow the in app instructions when switching to ensure a smooth transfer but they don't say much more about it   other than that   so this is most definitely a   you know, pick your own poison.   You know, what what do you need a wallet for? Do you need it to be fast and efficient?   You need it to be, like, lightweight and just not a whole lot of lights, whistles, and bells.   Man, well, Wall of the Satoshi's got all that, and it's got a whole lot more. But, you know,   if if you are really concerned about privacy   and really concerned about this custodial versus noncustodial issue that they're   talking about here on their FAQ,   then it will be up to you to take a deeper dive.  

I'm just happy that the Wall to Satoshi guys have come back   into The United States, which means that from a   out of The United States into some other country point of view, developers   feel more comfortable   putting their Bitcoin and lightning related stuff back into the hands of Americans,   which in itself   is quite a large signal   as to where The United States is going on the regulatory front. Right? Right. So let's move on to Polymarket,   who's added Bitcoin deposits   as NYSE   parent ICE   eyes a $2,000,000,000   investment.   So we talked about the $2,000,000,000   investment   yesterday,   but what's this about adding Bitcoin deposits?  

Well,   Micah Zimmerman   from Bitcoin Magazine tells us all about it and probably more. Polymarket,   the crypto native prediction market has added support for Bitcoin deposits,   giving users a direct way to fund their accounts with BTC   alongside   other existing shitcoin options. And, yes, I changed the name from crypto.   The move coincides with Bitcoin's recent rally to all time highs of 126,000   currently trading at around 124,300.   That number no longer is valid.   We dip to a 120.   Alright? So we'll we'll get into price action later. Anyway, it reflects growing demand for crypto native funding options on prediction platforms.   Polymarket has taken the world by storm over the past two years, emerging as the largest prediction market where users trade shares tied to the outcomes of real world events.  

You spelled gambling wrong, but that's okay. On Polymarket,   traders are bullish about the Bitcoin price. About 83%   of participants now predict Bitcoin will hit a 130,000,   while 5235%   are betting on a 140 and a 150,000,   respectively.   Long term betting volume has exceeded $30,600,000.   Polymarket   now   or rather also accepts   other   crypto and stablecoins   like USDT and Shitcoin 1, Shitcoin $2.02 and 3 and 4 and 5, whatever. It doesn't matter. Only Bitcoin matters here. And then they talk about the, New York Stock Exchange,   doing their $2,000,000,000 investment.  

The only part that's important here is that they're allowing   for Bitcoin   to be deposited into your Polymarket account   directly   if for whatever reason you want to gamble with your Bitcoin.   I highly recommend   not gambling.   I   I have never understood   the appeal   of gambling, whether it's   a sports book,   whether you go to Vegas.   To me, it's all putting money in a brown paper bag. It's like Schrodinger's money. Right? You take your money and you put it in a box. It can either be burnt to a crisp or   be   more money or just as much money as you put in. But you'll never know until you actually lift the lid of the box after you've shaken it right after the wheel of the roulette table goes around, after the the little spinners on the one armed bandit in Vegas goes around, or or after the final whistle blows in an NFL game. You'll never really know.   It's just   it just seems to me if you're gonna if you're gonna gamble, gamble on Bitcoin. Don't gamble with Bitcoin. So   going over to The United Kingdom,   The UK has lifted a retail ban on crypto   exchange traded well, I'm sorry,   ETNs,   paving the way for investments from pensions   and   ISAs,   whatever the hell an ISA is.  

Siamak   Masnavi   is writing this one for CoinDesk.   To get back up here to the top. The UK officially lifted its multiyear retail ban on crypto exchange traded notes. Oh, yeah. The   exchange traded notes or ETNs   saying the digital asset market has matured enough for individuals to invest   through regulated products even if investors will have to wait a little longer to add them to their portfolios.   In a policy update on Wednesday, the Financial Conduct Authority confirmed that retail investors,   retail,   that's you on the street, that's Joe Blow with his hot dog stand right on there on the corner. That's retail, and retail investors   can now buy crypto ETNs   listed on FCA recognized   Crypto ETNs are exchange traded debt notes   that track Bitcoin and Shitcoin number one prices without giving investors direct coin ownership.  

They fall under the umbrella of exchange traded products. Oh, boy.   And they also include exchange traded funds. While global e t n's typically do not require physical backing,   on the London Stock Exchange, crypto ETNs   must be fully,   physically backed by underlying assets   held by regulated custodians,   and they are not allowed to use any leverage.   That's actually good. While the ban officially lifted on Wednesday,   there is a delay before retail investors will be able to actually add   ETNs to their portfolios,   which reports say is down to the FCA only   starting to accept   prospectuses   or prospecti,   I guess, for prospective products on September   25.  

The UK tax authority, H. M. Revenue and Customs,   said in a policy paper published on Wednesday that crypto ETNs can be held in stocks and shares,   individual savings accounts,   and registered pension schemes allowing investors to earn tax free returns within those accounts.   From 04/06/2026,   ETNs will be reclassified as innovative finance   investments   through their tax or though their tax advantages   will remain unchanged.   Officials said that the shift reflects the government's commitment   to diversifying   long term savings options and integrating digital finance into mainstream investment structures.   The London Stock Exchange already lists several crypto ETNs   from issuers such as twenty one shares, WisdomTree,   and ETC   Group previously available only to professional investors.  

These products can now be accessed by retail investors   through regulated platforms. However, popular US listed spot crypto ETFs   like, of course, BlackRock's iBit remain ineligible,   cannot buy them, as they trade in dollars   and not UK exchanges   and   or or or hold on.   As they trade in dollars   on non UK exchanges and are not recognized under FCA rules.   Major ISA providers, including   IG, AJ Bell, and Hargreaves Lansdowne   are expected to review the policy before enabling ETNs   on their platforms.   The rollout is expected to be gradual as providers   adapt compliance systems and custody arrangements. So God really only knows   when   retail will actually be able to get a hold of these products, and then we'll have to find out   how much of these how much appetite there actually is for them right now. So we'll we'll have to see. But speaking of BlackRock,   BlackRock's Bitcoin ETF surpasses 800,000   Bitcoin in assets under management   after a $4,000,000,000   inflow streak. James Hunt,   the Block dot CEO.  

BlackRock's iBitSpot   exchange traded funds crossed 800,000   Bitcoin,   which is worth $97,000,000,000   in assets under management on Wednesday, which was less than two years   after trading began in January   2024.   BlackRock's Bitcoin ETF has already accumulated   over   798,747   Bitcoin as of October 7   according to its latest fund disclosures.   IBit's $426,200,000   worth of net inflows yesterday.   Say it again. $426,200,000   worth of inflows   yesterday was close or rather enough   to tip it over the milestone reaching approximately 802,200   BTC   or 3.8%   of Bitcoin's total 21,000,000   coin supply.  

For context, that puts BlackRock Holdings   on behalf of its clients   strongly   ahead   of the leading Bitcoin treasury company, Michael Saylor strategy, which holds a mere 640,031   BTC worth   a paltry $78,000,000,000   accounting for 3.1   of the total supply. So between the two, they have   6.9.   Almost 7%   of the total Bitcoin supply is held by two institutions.   One is a private company. Well, actually, they're both private, but you get what you get what I'm saying. One is a company, and one is holding shit on behalf of   the people that buy. Yeah. I don't know. I guess I guess Saylor could say he's holding Bitcoin on behalf of his shareholders too, but it's a completely different structure. But still,   7%   of all Bitcoin that will ever be mined,   not just what's flowing out in the streets right now, but 7% of all Bitcoin ever   is now held in the hands   of essentially two people.  

Yay. I'm not I'm not really all that happy about that, by the way. Anyway, the combined   US spot Bitcoin ETFs attracted another $440,700,000   on Wednesday, adding to an eight day run totaling more than $5,700,000,000   according to data compiled by the block.   IBit's seven day positive run   has generated over $4,100,000,000   worth of net inflows   alone. Quote, the eight day streak   of ETF inflows underscores persistent structural demand   while corporate treasury participation   continues to expand adding ballast   to Bitcoin's narrative as a strategic reserve asset,   BRN   head of research Timothy Messere told The Block, quote, meanwhile,   easing geopolitical risks via the Trump brokered Middle East peace framework   has reduced short term volatility, giving traders a clear runway   into the fourth quarter.  

Quote, iBit is number one in weekly flows among all ETFs with 3,500,000,000.0,   which is 10% of all debt flows into ETFs,   Bloomberg senior ETF analyst Eric Balchunas noted on x ahead of Wednesday's flow data. Quote, also notable   is the rest of the 11 o g spot   b t c e t f's   all took in cash in the past week. All of them.   All of them had positive net cash inflows.   Even g b t c somehow,   that's how hungry the fish are.   Two steps   forward mode and enjoy it while it lasts.   In, quote, on Monday,   the Bitcoin ETFs   attracted their largest daily haul since pro crypto Trump won the United States presidential election   last November, bringing in 1,210,000,000.00.  

The US spot Bitcoin ETFs have now registered   nearly $63,000,000,000   of inflows since their debut with iBit bringing in 65,000,000,000   and net outflows from Grayscale's converted fund offsetting the total.   Quote, spot Bitcoin ETFs are on an all time heater,   have taken an absurd   taken in absurd   5,300,000,000   over the past seven trading days, $2,000,000,000   just over the past two days, says Nova Diaz Wealth Management president Nate Guerchey. And he added,   I remember when people thought the entire category would top out at 5,000,000,000   in total assets.  

Well, let's just pause to to to think about that for just a second.   Now   I got a bit distracted because I got a a message from my daughter who's not not feeling well from at school. So so I apologize for that.   So   there were people that were thinking that there was five only gonna be $5,000,000,000   in total assets   among all 12   of the Bitcoin ETFs, and now we're looking at   tens of billions of dollars   completely   blown away   all expectations.   It kinda kind of an important note   that all these pros were like, oh, there's no way it's gonna get over $5,000,000,000, and we blew past that in, like, what,   a couple of days.  

Was ridiculous. Anyway,   BlackRock's   Bitcoin ETF previously surpassed   500,000   BTC mark last December,   rapidly becoming the third strongest US ETF instrument in its first year.   Speaking to Fox Business after iBit crossed the 250,000   BTC level in March,   CEO Larry Fink said, quote, iBit is the fastest growing ETF in the history of all ETFs,   end quote, adding his surprise at how much Bitcoin had gone up. Bitcoin was trading for approximately   $69,000   at that time and has since gained a further 76%,   currently changing hands for around a 121,500   according to the block's   BTC price page.  

So   it doesn't matter if we hate the the the BlackRock   and and the the the Bitcoin ETFs.   It doesn't matter.   People clearly want them. And if people clearly want something,   then a market is going to develop for that. It just is. And I we can scream and kick and moan and cry all we want. It's not really gonna matter.   And like I said yesterday,   I just can't argue with success.   IBit   is the most successful   exchange traded fund   in the history   of that particular kind of asset.   Gold ETFs, silver ETFs,   I'm sure that somewhere there's a there's a   petroleum   ETF.  

It's just   of all the ETFs,   the Bitcoin ETF is the most successful.   Cry about it if you want. I I refuse to to do so.   Do I like them? No. I I don't. Am I gonna buy them? No. I probably won't unless, for whatever reason, I end up in a situation where somebody's saying, hey.   We're gonna give you a paycheck, and, we're gonna offer you this, pension plan or whatever they're gonna call it nowadays.   And you you have your choice. You wanna do this, this, or this, and it's like, which one of these gives me exposure to Bitcoin? That's the one I want. And they'll probably go, well, we've got this one and it has 10%   Bitcoin ETF, then, yeah. Yeah. I'd do it. That that's when I would do it. But if I have the choice to whether or not I'm going to buy   a Bitcoin based product   or Bitcoin itself, I'm always going to choose Bitcoin itself. Let's run the   numbers.  

CNBC   futures and commodities, and everything is in their head. I don't know what the hell happened today. I guess I missed a important piece of news, but everything is down.   And we'll start with everything being blood red across the board in energy. Brent Norcia is down a point to sixty five sixty one. West Texas Intermediate down a point to sixty one ninety four. Natural gas   bucking the trend, going the same direction this time, down 1.3%.   Gasoline is down point six, and Merban crude is down three quarters of a point to $67.13   a barrel.  

Most of the shiny metal rocks are in the red today except for palladium, which is continuing its rally,   2.15%   to the upside. Meanwhile, gold has lost a point,   but still $32.40   above four k.   Platinum is down point 4%. Silver is down 1.5%,   but still is topping $48   an ounce, and copper is up one and a half percent.   Most of ag   also in the red today. Biggest loser seems to be coffee,   two points to the downside. Biggest winner is lumber,   1% to the upside. Meanwhile, live cattle up point 17%.   Lean hogs down one and a half. Feeder cattle up point 85%.   All of legacy indices are down in the red. S and P down a third. Nasdaq down the same.  

Dow is down point 4%, and the S and P Mini is down point 81%.   So everybody's just basically getting kicked in the crotch this morning, including Bitcoin, which is chilling out at a 121,220.   We are now at a $2,420,000,000,000   market cap and sub 30 ounces of shiny metal rocks.   You can only get 29.9   ounces of shiny metal rocks with your one Bitcoin, of which there are 19,932,044.92   of an average fees per block are, well, normal at 0.03   BTC taken in fees on a per block basis.   There's about 32 blocks carrying 50,000 unconfirmed transactions   waiting to clear at both high and low priorities of three Satoshis per vbyte.  

Oh, we've lost the Zeta hash handle. Oh my god. It's over. Pack it up, boys. We're going home.   999   exahashes   per second   is the security   quotient of the Bitcoin network right now.   From yesterday's   episode of Bitcoin and compliant innovation. I love that phrase.   Compliant innovation.   You can innovate, but it better comply.   That's not innovation. Anyway, wartime with a 133   says,   I just used your code, and I am excited to try the comfrey salve from PermaNerd.   Sweet.   Got myself a sale. It's like it's like fishing, man. I'm just fishing for comfrey salve. Tulips with a thousand says, tulips,   thank you, sir. You just ruined my life. Oh, damn. That sucks.  

The amount of suit speak and control speak in my life is off the charts.   It has always been there, but I did not notice.   I guess that is what being a normie really means. By the way, strike Bitcoin loans just went live this week in Europe.   It is a big deal around here just when loans are being labeled quote immoral   in Bitcoin circles.   With all this news, we can see how the fiat standard   was just tulips   and is slowly going to zero.   I don't I okay. Look. I don't consider a loan on your Bitcoin   immoral.   If you're doing it with a company like the old what was it? BlockFi?   Well, I can't yeah. I think it was BlockFi. The the people that were entangled   in FTX and Alameda and and Tron or not Tron, whatever the other one was, it doesn't matter.  

It's not even then that it was immoral. What I'm what I would be suggesting is that   if you knew   anything about what was going on underneath the hood   at BlockFi and you were still shilling this shit, and even if you didn't know what was underneath the hood, you you there's a lot of mechanics that can just listen to a car and understand what's going on underneath the hood without opening the hood, and a lot of us were like that. We were like, there's something very, very wrong about this company, and they were making loans against people's Bitcoin.   Right? And the people that were made that got   there was the people that put their Bitcoin up to get these loans,   they got host   when FTX went went belly up. Alright?  

So it's not that it's not taking the loan on the Bitcoin that's immoral.   That's not it.   You have to go look for the companies that are gonna do you right.   Look at Unchained   out in Austin, Texas.   If you really need a loan, go look at Unchained.   And Jack Mallers has been a solid Bitcoiner for freaking ever, dude. I don't give a shit what anybody says about his daddy, the fact that he comes from money, fact that he was part of the you know, that his family is part of the Chicago,   you know, building the the the Chicago Mercantile Exchange or the CBOE or whatever it was that they were involved with. I don't care.   I've never seen Jack Mallers rip anybody off. And if Strike is making loans against Bitcoin,   then and and I needed a loan using my Bitcoin as collateral, I would look at Strike.  

If you don't have to take a loan,   then don't.   But if you do   and you're looking at a solid company,   they're looking at your Bitcoin as a solid collateral. It's the it is   pristine collateral.   It's amazing collateral.   Right? It's the best collateral.   It is. I mean, I'm kinda being funny here and being Trumpish and all that shit, but it's true.   I don't find taking loans against your Bitcoin immoral.   The immorality comes from the people that run those companies.   Are they doing right by their customers?   If the answer is no, then that shit is immoral. But that's that's on the company's side, not on not on the person's side. With seventeen seventy six SATs,   seventeen seventy six says good show.  

It's notable that neither the Square Bitcoin story   nor the bring in story,   says   says anything about the   Estonian TradFi integration project makes it oh, hold on. Let me this is   seventeen seventy six may not be a native speaker or he's writing on his mobile. Let me just start that again. It's notable that neither the Square Bitcoin story nor the bring in story about the Estonian TradFi integration project   makes any mention of the need for governments to loosen up on tax reporting rules and implementation of   de minimis rules regarding spending Bitcoin. Okay. No. My my bad. That is a good sentence. I think my eyes just kind of wobbled there for a second.  

Seems like a good way to mask KYC people that have Bitcoin to spend.   I don't know.   None of us know.   Not yet. Not yet. But you're right. It is notable that they haven't really said anything,   but they may start saying something about it because we're about to get into a news story about that. So hold on to your hats. Turkey with 500 says nothing. Psyduck with $7.50 says   Psyduck.   That's the weather report.   Welcome to part two of the news that you can use.   Dorsey   Lummis   push for Bitcoin tax relief as block expands BTC   payments.  

Vismaya v   decrypt.co.   Block founder Jack Dorsey has called for a federal tax exemption   on everyday Bitcoin transactions,   urging for the revival of a legislative effort that fell short just months ago   when pro crypto senators ran out of time to attach critical tax reforms   to President Trump's massive reconciliation   bill.   Quote, we need a de minimis tax exemption for everyday Bitcoin transactions, Dorsey tweeted as his payments company announced it is debuting a new Bitcoin payment and crypto integrated wallet targeting small businesses   using its Square point of sales system.  

Quote, working on it. If this is of interest to you, please tell your senators slash house member,   end quote, Cynthia Lummis,   from Wyoming responded to his tweet. Okay. So she responded directly to Jack.   The exchange points to unfinished business   from July when Lummis attempted to attach   crypto friendly amendments to Trump's one big beautiful bill, but failed to get them to the senate floor   before vice president JD Vance cast the tie breaking vote passing legislation.   The proposed amendments   would have included a de minimis exemption allowing Americans to avoid reporting crypto transactions   under a few $100 for capital gains purposes,   which is exactly what Dorsey is now demanding.  

Currently, the IRS treats crypto as property,   meaning even small purchases trigger taxable events that create significant reporting burdens for merchants and consumers alike   in the hectic final hours of negotiations over the reconciliation   bill in July   pro crypto senators and and industry policy leaders race to include the de minimis exemption   and other benefits for crypto stakers, miners, and business   businesses   holding digital assets.   Lummis had vowed to reintroduce the proposal in upcoming senate sessions, calling it a key step forward   for Bitcoin adoption.  

Arthur   Azizov,   hold on, Arthur Azizov,   founder and investor at b two ventures,   told   Decrypt   that a de minimis exemption is a pragmatic fix for a paperwork   problem, adding that it could help merchants and wallets experiment with Bitcoin. But Azizov   cautioned the exemption alone won't turn Bitcoin into a reliable payment method, noting that stores   can still lose money if Bitcoin's price changes between payment and conversion to dollars.   He added,   the reform needs to be part of a package that includes clear broker reporting rules,   anti fragmentation protection,   and fiat conversion tools to become a realistic step toward broader merchant adoption.  

Lummis had remained active on crypto tax reform on multiple fronts.   In May, she and senator Bernie Moreno   sent a joint letter to treasury   secretary Scott Bessent demanding immediate action on a separate but related Biden era tax policy   that put US crypto firms at risk of paying millions in taxes on profits that they have not realized, quote,   neither congress nor FASB   planned this outcome.   It's the unintended   result of basing tax liability   on decisions   by a private organization,   not principles of taxation.   So   it looks like   we might be able to revive this de minimis issue,   which is gonna be very important for Jack Dorsey and his company Square   with the introduction of Square Bitcoin, which I told you all about yesterday.  

And, again, I will remind you this is your chance   to go talk to your farmer or rancher at the farmers market.   Or   if you're, like, if you go to, I don't know, knitting festivals   and you buy yarn, they are probably using square   to sell you their yarn. So there would that would be your   in on talking to the merchant about, hey, do you take Bitcoin?   And then you can say well   even if you don't take bitcoin   because I think this is the way this is going to roll out I will be able to use bitcoin   via square to pay a merchant using square with bitcoin   even though   the merchant doesn't know that they're getting Bitcoin because they haven't, I don't know, set a button in settings   that says keep a percentage of my Bitcoin. It will be automatically converted to dollars. They don't probably don't even see it. Now I don't know this for sure,   but I'll bet you my hat that that's the way it works. That if you're a Square merchant   and I come up and I say I wanna buy your stake,   then you sell me the stake,   and I pay in Bitcoin,   and all you see as the merchant is that you received   dollars for it.  

And when I tell you that I paid you a Bitcoin, you go, no. I I got doll the merchant says I got dollars. See, here here it is. It's dollars. It's like, yeah. But if you were to go to settings and you flip this other button over, you can set it to where a percentage of that remains in Bitcoin and you can keep it on your books.   That   that is I think that is a critical   infrastructure   to have   as we move forward.   We'll have to see exactly how it works. I have not seen the interface, and I haven't seen anything about the particulars of how that's going to work.   But   when they release it, I have Square on my phone, and I will be able to view it myself, and I'll tell you all about what I see when I get it. And that's supposed to be November   10   year, by the way.  

Now four year cycles.   Here's the real reason   the four year Bitcoin cycle is dead   according to Arthur Hayes   as written by Martin Young   from Cointelegraph.   BitMEX cofounder Arthur Hazes agreed   that the four year crypto cycle is dead,   but not for the reasons most people believe.   Quote,   as the four year anniversary   of this fourth cycle is upon us,   Traders wish to apply the historical pattern and forecast an end to this bull run, said Hayes in a blog post.   He added that while the four year pattern worked in the past,   it is no longer applicable   and it will fail this time.  

Hayes argued that Bitcoin price cycles are driven by the supply   and quantity of money,   primarily   USD and the Chinese yuan,   rather than arbitrary four year patterns   linked to having events   or as direct results   of inter   institutional interest in cryptocurrencies.   Past cycles ended when monetary conditions tightened   not because of timing,   Hayes said.   Hayes argues   the cycle is different for several reasons, including   the US Treasury draining 2,500,000,000,000   from the Federal Reserve's   reverse repo program   into the markets   by issuing more treasury bills and US president Donald j Trump wanting to, quote, run it hot   with easier monetary policy to grow out of the debt. Yeah. That's I no.  

That's not how you do it, but whatever. There are also plans to deregulate banks to increase lending. Yes. I'm sure what could possibly go wrong there. Additionally,   the United States Central Bank has resumed rate cuts despite inflation being above its target.   Two more rate cuts are predicted this year with 94%   odds   on an October cut and 80%   odds on another one in December according to CME Futures Markets.   Bitcoin's first bull run coincided with Federal Reserve quantitative easing and Chinese credit expansion,   ending when both the Fed and the Chinese central bank slowed money printing   in late twenty thirteen.  

The second,   quote, ICO cycle   was driven primarily by the yuan credit explosion   and currency devaluation   in 2015,   not the United States dollar.   The bull market collapsed as Chinese credit growth decelerated   and dollar conditions tightened   according to Arthur Hayes.   During the third,   the COVID nineteen cycle,   Bitcoin surged   on USD liquidity alone while China stayed relatively restrained.   It ended when the Fed began tightening in late twenty twenty one, according to Arthur Hayes.   Hayes then argued   that while China won't fuel this rally as much as it did in previous cycles,   policymakers   are moving to end deflation   rather than continuing to drain liquidity.  

This shift   from a deflationary   headwind   to at least neutral or mildly supportive   monetary policy   removes a major obstacle that would have killed the cycle allowing US monetary expansion   to drive Bitcoin higher without Chinese deflation counteracting it. Quote,   listen to our monetary masters in Washington and Beijing.   They clearly state   that money shall be cheaper   and more plentiful.   Therefore,   Bitcoin continues to rise in anticipation of this highly probable future.   The king is dead.   Long live the king. In, quote, on chain analytics firm Glassnode stated in August that, quote,   from a cyclical   perspective,   Bitcoin's price action also echoes prior patterns.  

I think when it comes to the four year cycle, the reality is that it's very likely that we'll continue to see some form of a cycle.   Crypto exchange Gemini's head of APAC Region,   Saad   Ahmed, told CoinTelegraph earlier this month.   And Arthur Hayes has been around quite a while.   He kinda knows what he's talking about,   but I still view this as a prediction.   We will we will have to see.   It you know, it's like if you if you are, like, if you're sitting on a pile of cash and you're listening to somebody like Arthur Hayes   to direct you on how to make your ultimate decision of what to do with that cash,   I wouldn't do that.  

I like Arthur, and I think he's smart, and I think he's been in the game long enough to be able to say these things, and he may be right.   But I   just buy Bitcoin.   Just buy it in small chunks. Buy it in slightly larger chunks. Buy it day to day. Buy it every week. Buy every month. Whatever it is, just make sure that you're off of zero.   Once you're off of zero, then you have a better frame of reference as to what to do with future money.   But nobody knows what the hell's going on. We got gold and silver   punching through the firmament of the atmosphere   and basically Bitcoin just kinda chilling out, you know, doing being all lackadaisical   like it's, you know, drunk by the pool, whatever.  

It it does that mean rotate out of Bitcoin into gold, though? Does it mean rotate out of gold into Bitcoin? I don't know.   Do you like gold? It's it's okay if you do. I don't have any problems with gold. I don't personally own any, and I probably should, but I just I'm too enamored with with the way Bitcoin works and and the promise   for me to start going, oh, I'm just gonna rotate into some gold. I'm just no. That's not it.   But the cycle or not the cycle, but we've seen this pattern before with gold. Weimar Republic.   Yeah.  

Gold   against   against the well, the the Weimar mark, for lack of a better term, their their fiat paper money back in the day,   it fluctuated   and oscillated like, oh, it   it makes the oscillations in Bitcoin look tepid   at best.   The gold price   against the Weimar Republic   mark,   if you look at that chart,   it is it will make you sick just looking at it. It goes it's   scorches through the atmosphere and then plunges back down to earth and then scorches through the and we're and we're talking about it going back and forth and back and forth. We're talking, you know,   multiple   tens of percentage points, sometimes   over a 100   over a 100%   in both directions   within a month of each other.  

It's it's   really, go look at the gold price   versus Weimar Republic, Mark.   Look at that graph as they're coming into   the collapse of the Weimar Republic,   and it will make you sick. If it doesn't,   then you're obviously a roller coaster aficionado   from Decrypt,   the decentralized   map paying for data that Google uses for free.   Vince DeAquino   has it.   OpenLedger,   a blockchain   infrastructure firm building out   AI systems for transparent data attribution   is expanding its ecosystem with the addition of Sense Map,   a new decentralized   mapping   network.  

The platform enables users   like you,   like me, users   the platform enables users to contribute   real time information   such as safety   crowd levels,   and noise,   all of which are verified   on chain   and used to build an open community owned map.   Quote, in places   traditional maps overlook, local contributors   can fill in the gaps by sharing real time context like roads, crowd density, safety, or accessibility   details,   Ram Kumar, core contributor at OpenLedger, told Decrypt.   Each submission now here's where your ears need to prick up.   Each submission,   like, so I'm using this map. I'm a user of the map, and I see a car wreck, and I'm going to submit that information to Sense Map.  

That's what we're talking about when I read this. Each submission is tied to a verified   on chain identity   and then reviewed by community validators   who earn reputation   over time.   Reliable contributors gain more influence   in the system,   while inaccurate   or spam entries are flagged and penalized   to maintain the trustworthiness   of the data.   Asked   whether the open model risks low quality data, Kumar said accuracy is maintained   through on chain reputations,   staking,   and validator   review.   Quote, spamming isn't just discouraged, it's economically   unsustainable,   he said.  

Alphabet,   the parent company of Google, reporting 82,500,000,000   in Google services revenue for the second quarter of this year, up from 73,900,000,000.0   just a year earlier,   according to its latest earnings release. The services   revenue segment includes   Maps,   Search, and Google Play.   When the company does not break out Maps revenue, analysts have noted its commercial potential as far back as 2019   when   Morgan Stanley's   Brian Nowak projected that Google Maps,   just Maps,   could generate roughly $4,800,000,000   annually.   Later reports indicated   that the platform's ad revenue was on track to reach $11,000,000,000   by 2023.  

OpenLedger   claims   that as since MAP expands, its accuracy improves rather than declines   driven by a reputation based validation system that rewards consistent contributors   and verifies every data point through its on chain proof of attribution protocol.   The protocol works   by linking each data contribution   to a verifiable   on chain record showing who created it,   when it was created,   and how it's used in downstream   AI models,   ensuring that every new data point strengthens the network's accuracy   instead of diluting it, Kumar said.   As the network scales,   trust is maintained through a reputation based validation system.  

The more consistent and reliable contributors' data, the higher their validator   weight, Kumar explained.   Other observers   note that maintaining accuracy in decentralized mapping depends less on central coordination and more on verifiable data   between independent nodes.   Trust comes from re   reproducibility,   Ari Traar,   cofounder and CEO of decentralized physical infrastructure network, x y o, told Decrypt.   When multiple nodes reach the same result through cryptographic proofs, accuracy is established by consensus rather than control,   he explained.  

He then added   that decentralized mapping works best   where centralized data collection falls short, such as in developing regions, disaster zones, or rapidly changing urban areas where real time verifiable updates are most needed.   There's only one   problem with this entire thing,   maybe two. But the one that really screams to me is   who?   You.   They say, of course,   decrypt probably didn't really ping the question, but the the   the question that is on my mind,   how   do you verify   the identity   of that person?   This is a critical thing   when it comes to something like   geolocation.  

I mean,   yes. Google already knows where I'm at.   I   I I I get it.   But   I don't need even more people knowing where I'm at.   You know, Google, you know, they they might know where I'm at. And are they gonna share it with some other people? Yeah.   For a really high amount of money. Not just me. It'd be like an entire dataset,   but they're not just gonna give it away. Right?   These guys seem to be leveraging some stuff that Google Maps is doing, but they're going to know who's doing what,   where and and, essentially, if I'm saying, hey. There's a wreck over here, and I consistently   add data   under my digital ID, which they have yet to explain.  

Right?   Then they know my patterns.   It's bad enough that Google knows my patterns. I don't need a private company.   Another private company,   God only knows what their morality is,   knowing what the hell I'm doing. And   through AI,   what do I notice?   Is he more likely to tell us that a car wreck is there?   You know? What what what advertisements   can we can we send his way?   Or is he more apt to say that this park is full?   Because those are two different very different kinds of people. If I'm constantly looking at negative shit, like I only notice car wrecks   or I'm constantly being positive. I like sunshine and being out in nature because I'm always at a park, and I'm always saying, hey. The the this park is actually pretty densely populated.  

Let's go to another one. And then I say, oh, this park is   you see?   And that's just   that's just a that's almost like nothing. Think of all the shit you notice.   Notice your own patterns before you give them to somebody else.   But   what I'm getting at here is   this can be done with my nostril ID,   which is not tied   at all in any way, shape, or form to my real world identity   unless I want it to be.   Right? Unless I absolutely   want it to be so, I don't have to do that. There's no reason that this entire system that was described in this article cannot be replicated   in a nostril type environment.  

The question is, well, is it is it valuable enough for enough people to do it?   Maybe, maybe not. That's not really the point. I'm just saying that   these kinds of things,   they it seems to be like, oh, man. We might even pay you some money. Not even, you know, throw you some Satoshis if especially if you become a a, you know, validated   regulator or whatever it is that they're they wanna call it.   You know? It's like and I'm constantly, like, you know, on my phone   giving them data. No. That's probably not a real good idea.   If we gotta do this, then we should do it on something like Noster.  

You know? At least,   you know, at least nobody owns the data, and it could be very, very useful.   You know? But it might be something for Satlantis   to   to play with.   But I don't trust these people as far as I can throw them, But this will not be the last time   that somebody wants to identify you under their own auspices, under their own framework, for their own purposes   of which you are the product.   And you're not gonna get enough money being the product. Anyway, Atlas twenty one   in The United States,   64%   of voters   consider   a candidate's   stance   on digital assets   as   crucial.  

Kinda surprised me. A recent survey conducted by McLaughlin and Associates in collaboration with the digital chamber   has now shed light on the relationship between digital assets   and elections   in The United States.   According to research,   this research,   64%   of voters believe a candidate's stance on digital assets   is an important element in their voting decision.   64%   of eligible   United States voters are saying,   I wanna know their stance on digital assets.   That's a massive   voting block.   The survey also found   that crypto investors place more trust in the Republican party   than in the Democratic party when it comes to the developments of the sector in The United States.  

Three quarters of investors support the Trump administration's   approach to rolling back regulations and enforcement actions from the Biden era on digital assets,   measures they believe would, quote, make it easier for cryptocurrencies   to grow and expand   inside The United States, end quote.   The poll comes at a sensitive   time for the United States government   with the federal government shutdown   now in its second week due to the lack of an agreement between Democrats and Republicans   on two key government spending bills.   Democrat   or rather Democratic   figures, including, of course, senator Elizabeth Pocahontas Warren have raised concerns about Trump's ties to the digital asset sector, particularly   in relation   to World Liberty Financial. Quote, in March 2025,   WLF announced plans to launch USD   1,   the stablecoin your wallet has been waiting for.  

Warren said in a statement earlier this year yeah. I'm kinda laughing about it too. Warren emphasized   that, quote, the launch of a stablecoin directly tied to a sitting president who can personally benefit from its success   represents an unprecedented   conflict of interest   posing significant threats to our financial system. That's the end of the article, and I find myself in awe that I'm actually in full agreement with senator Elizabeth Warren.   It is a conflict of interest, and it's not just about the stablecoin,   although that's probably the the the very tip top.  

All the rest, the World Liberty Financial stuff   is a conflict of interest for the sitting president   of The United States. Whether he's wearing a red jacket or a blue jacket, it doesn't matter. It is,   by definition,   a extremely   huge conflict of interest. It just is. It it doesn't matter if you love Trump or hate Trump or whatever.   You could have voted for for Harris or or laughed when she lost. It it doesn't matter.   This is a conflict of interest. I said it a long time ago when   with the first time that Trump opened his mouth about anything   that even remotely   resembled cryptocurrency   as being part of him or his personal life or his family or his family's personal life. I was screaming, this is a conflict of interest, and it's going to come back to haunt your ass.  

So where do we go from here?   Well, this poll   demonstrates exactly what the Republicans   have to do   to win the midterms.   There's no other way forward.   The Dorsey   and Lummis argument of de minimis tax exemptions for everyday crypto purchases   has to be passed before elections.   It has to. And there's a couple of other things. But if you want to win these elections in   given 64%   find the stance of politicians   on digital assets important and a crucial part of what how they're gonna make their voting decision, then you have to do something   like pass the Lummus bill about de minimis.  

You might even consider   buying some Bitcoin into the strategic reserve. You need to go ahead and figure out how to do that under the auspices of not having it, you know,   burden the taxpayer. We where it's not gonna use taxpayer money to actually buy the Bitcoin.   Figure it out, dude. Use tariff money. I don't care.   Do something. Because if you don't,   the midterms   is going to be a shit show. And now you've got the one piece of evidence that you need   that if you follow,   we'll be able to give you a hell of a lead   come midterm time, but that's all up to the candidates.  

I will also say this.   If the Democrats wanna have a hope in hell,   They're going to need to become very friendly   with things like, hey. We'll have our own de minimis   tax, the thing on on crypto. It and we we wanna get that passed. They're going to need to actually match   the fervor   that Trump had coming into the election   when he embraced   the Bitcoin crowd.   Right? So we're it   the only winner real winner here is Bitcoin   because now the blue team   and the red team,   now now they have to actually kinda join forces   because they want to win the elections.   So it's gonna be an interesting   midterm. Let's just say that.  

Last up for the day, Helen Parks, Cointelegraph,   SoftBank's   PayPay   acquires a 40%   stake in Binance Japan.   Damn. Binance Japan has entered into a capital and business agreement with PayPay,   a mobile payment service operated by the major Japanese investment holding company   SoftBank   Group.   SoftBank's PayPay acquired a 40% equity stake in the Japanese subsidiary of global crypto exchange Binance,   with Binance Japan becoming an equity method affiliate of PayPay   as of September   2025,   the company announced on Thursday.   Following the acquisition, PayPay and Binance Japan   plan to launch integrated services to allow Binance clients   to buy and sell crypto assets   using the cashless payment service PayPayMoney.  

Through its continued evolution   from a cashless payments business into a digital financial platform,   PayPay will strive to deliver new value to users   while contributing to the advancement of Japan's financial infrastructure,   the company said in an announcement.   Quote,   PayPay has been advancing digital finance through smartphones in collaboration with our group companies in the financial sector, which share strong synergies with payments.   PayPay   corporate officer   Masayoshi   Yanesi   said in a joint statement   a joint statement,   which is part of Binance, the world's largest digital asset exchange by trading volume, we will provide Binance users   with solutions that combine the convenience   and security   of PayPay, the executive added.  

PayPay's investment in Binance Japan builds on its significant milestones in the market.   Launched by SoftBank in 2018,   PayPay surpassed   70,000,000   users   for the first time in July   2025.   Not not bad for seven years or eight years.   PayPay processed at least 380,000,000   remittances in the year of 2024,   a 36%   increase from the 280,000,000   transactions in 2023.   This growth positions PayPay as one of Japan's leading payment platforms as bank transfer volumes rose by only 7.5%   over the same period.   According to a spokesperson for Binance Japan, the platform currently allows users to deposit   and withdraw Japanese yen via bank transfers,   making the PayPal   integration   a crucial step   toward expanding payment options and operational convenience. They may have actually meant to say PayPay, but it actually is written PayPal.  

I don't know. Whatever. Quote, by combining PayPay's extensive user scale   with Binance's innovative technology,   we will be able to make web three, oh god, web three more accessible to people across the country and deliver secure, seamless digital assets   services,   said Takashi Chino, Binance Japan's general manager.   Apart from pushing local growth, PayPay has recently   sought to scale operations globally, announcing the launch of its payment service in South Korea in September.   PayPay also   confidentially   filed with the US Securities and Exchange Commission for listing American depository shares   on a US stock exchange in August.  

The exact schedule size and price of the public listing were were yet to be determined by the time of the announcement, PayPay said, adding that the potential listing   is subject to market and other conditions.   The acquisition took place amid a strong rally in BNB,   which is the native token of Binance's BNB change or chain,   which recently rose to third place   among cryptocurrencies   by market capitalization.   As of Thursday, BNB traded at about 1,300   per coin, up 26%   over the past seven days with a market cap of about a $182,000,000,000   according to CoinGecko,   though.  

The question is, will all Binance users,   not just Binance Japan,   have some sort   of accessibility   to this wonderful and beautiful PayPay app? I've never seen it, never heard of it before.   But, again,   with the theme of can't argue with success,   I can't argue with success because we're we're talking about what did they say?   380,000,000   remittances in the year of 2024   alone,   which is a 36%   increase year over year.   Dude,   that's kinda big.   70,000,000   users?   What's, like, is it I think they hit 70,000,000   users   for the first time in July 2025, and now they all have exposure somehow,   you know, to do   certain things and and reach for stuff within Binance Japan.  

So do they get all of Binance?   Do Binance users get all of pay   we don't know.   But, again,   I can't argue with success.   We seem to be winning on all fronts, and yet,   you know,   here's here's Bitcoin chilling out at a 120,423.   It's like it's drunk by the pool.   And somebody go turn Bitcoin over before it gets a bad sunburn, and I'll see you on the other side.   This has been Bitcoin, and and I'm your host, David Bennett. I hope you enjoyed today's episode and hope to see you again real soon.   Have a great day.