Topics for today:
- Banker's Fearful Stables Could Steal Deposits
- Corporate Driven Alt-Season Begins
- Japan Proposes 20% Flat Tax on BTC Gains
- Metaplanet Joins FTSE Japan.
- 783 BTC Lost in Social Hack
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Today's Articles:
https://cointelegraph.com/news/citi-executive-stablecoin-yields-drain-bank-deposits-reporthttps://www.coindesk.com/business/2025/08/25/sharps-technology-jumps-70-after-raising-usd400m-for-solana-treasury
https://atlas21.com/japan-moves-toward-a-20-flat-tax-on-cryptocurrencies/
https://aqstr.com
https://decrypt.co/336623/metaplanet-joins-ftse-japan-index-continues-stack-bitcoin
https://bitcoinnews.com/legal/bitcoiner-loses-783-btc-social-engineering/
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It is 10:35AM Pacific Daylight Time. It's the August 2025. This is episode eleven fifty four of Bitcoin, and we got some news out of Citibank. Some some little bit of a little bit of fear coming out of Citibank that stable coin yields may destroy everything under the sun. It's this is why you're here. This this is why you're here so that so you can pick up the mainstream news of what's going on in in Bitcoin without having to wade through all of the the crap that I have to wade through, the the curation that I go through to bring you the the creme de la creme of these stories.
And honestly, that is not creme de la creme, but it's, for a Monday after a Bitcoin crash because, you know, Michael Saylor has, bought some Bitcoin because it always happens on Sunday. This is this is what we're dealing with. And I also wanna get into the fact that we are in dangerous territory with corporate shit coinery. I told you it was going to happen and it's definitely happening and it's it's here. It's, I mean, it's it's the story that I'm going to bring you about Solana is gonna demonstrate that. I I hope to not have to read the whole thing, but I really need everybody to get on board with with what's happening. It's a kind of alt season two point o and it pains me that it's happening because I just I thought that stupidity was just in the street with your average Joe, but no.
Chief executive officers and chief financial officers, they're they're just as dumb as anybody else and what I've got for you today is going to prove it to you. And then Japan is going to piss a whole bunch of people off in their lovely country. We'll get to it. I'm going to talk about something called aqstr.com. Man, I have no idea how to pronounce this, but it's neat. And I honestly, I hope I hope people start using this. And I know when people start using this other people are going to just roll their eyes and go, oh my god, it's another form of zapvertising.
But I I have to admit, this is pretty slick and I'm gonna tell you all about it right before I go into Meta Planet and well what's going on with Meta Planet? Yes, they bought some more Bitcoin but there's something else that's happening and then we'll end I know it's we're gonna have to end on a sad note but it's as usual it's going to be a object lesson of what not to do so that you can be prepared if something like this were to come your way. Let's get in to Citi executive warns that stable coin yields could drain bank deposits. Oh, the humanity.
Oh, my god. Adrian Zmunsky from Cointelegraph says, paying interest on stable coin deposits could spark a wave of bank outflows similar to the money market fund boom of the nineteen eighties. Citi funds or rather Citi's future finance head, Ronit Ghost, warned in a report published on Monday. And according to the Financial Times, Ghost compared the potential outflows caused by paying interest on stablecoins to the rise of money market funds in the late nineteen seventies and early nineteen eighties. Those funds ballooned from about $4,000,000,000 in 1975 to February just seven years later in 1982, outpacing banks whose deposit rates were tightly regulated, Federal Reserve data shows.
Withdrawals from bank accounts exceeded new deposits by 20 no, sorry, 32,000,000,000 between 1981 and 1982. Everybody was running for the money market. They were pulling their money out of banks and shoving it into these brand new shiny vehicles called money markets. It's kinda like a savings account but not at your bank. Chicanery has always been with us, people. Banks may face higher funding costs by relying more on wholesale markets or or raising deposit rates, which could make credit more expensive for households and businesses. The Genius Act does not allow stablecoin issuers to offer interest to holders, but it does not extend the ban to crypto exchanges or affiliated businesses.
The regulatory setup led to a significant reaction by the banking sector. Several, several US banking groups led by the Bank Policy Institute have argued local regulators to close what they say is a loophole that may indirectly allow stablecoin issuers to pay interest or yields on stablecoins. And in a recent letter, the organization argued that the so called loophole may disrupt the flow of credit to American businesses and families potentially triggering $6,600,000,000,000 in deposit outflows from the traditional banking system. Can you feel the fear? Can you can you feel the hackles just raising up on the backs of the these people's necks because I can the crypto industry pushed back against banks concerns with two industry organizations using lawmakers or urging lawmakers to reject proposals to close the loophole.
The organizations warned that the revisions would tilt the playing field toward traditional banks while stifling innovation and consumer choice. The United States government has emerged as a leading supporter of the adoption of dollar peg stablecoins. Treasury secretary Scott Bessant said in March that the US government will use stablecoins to ensure that the US dollar remains the world's global reserve currency. And he said at the time, quote, we are going to put a lot of thought into the stablecoin regime, and as president Trump has directed, we are going to keep the United States dollar the dominant reserve currency in the world, and we will use stablecoins to do that.
I'm reminded of a meme at this point. It's the one with the toddler sitting on the side of the pool and the mother with her arms out saying, jump to me, jump to me. Meanwhile, her other kid is drowning just to her left by a couple of feet and then underneath it all is the chair with the skeleton tied to it just clearly drowned. Right? I some has something about this is like the the little toddler on the side of the, you know, the the pool is like stable coins, and the mommy is like US regulators and president Donald Trump and Scott Bessent. And the banks are over here drowning. And meanwhile, we've got what happened to the banks in the '19 mid nineteen seventies up through the mid nineteen eighties as the skeleton tied to the freaking chair.
We've been through shit like this before. And maybe, hey, maybe the banks are right to be a little a little, a little, well, what's what's a good word for it? Cautious? Like like prey in the midst of a bunch of predators not wanting to really move or or, you know, twitch or make their presence known. But, hey, look. It's gonna happen. Whatever's gonna happen is gonna happen, and there's not a damn thing anybody can do about it. One thing that it that does concern me, though, is that this could actually trigger a lot more consolidation in the banking sector in at least in The United States, most likely the entirety of the West, let's be honest, but at least in The United States. And we don't need any more consolidation.
I don't need one bank in The United States outside of the Federal Reserve. I don't need Wells Fargo to be the the singular bank that absorbed every other bank because we've seen we used to have tens of thousands of banks in The United States. Possibly even around the time that the the Great Depression was triggered in the late twenties and thirties, early thirties. We may may have had a 100,000 banks, like, little tiny banks, and the Great Consolidation started at the depression. Banks started folding into each other. They started collapsing into each other. And this kind of continues to slow down and then can, you know, it it would happen every once in a while. But then then you get to the you get to the mid seventies and through the mid eighties you got more consolidation and then you get to like 1987 or rather whether it might have been around 1986 and you had the the the savings and loan debacle and that caused more consolidation And then we get people flying planes into the World Trade Centers in New York City, and we get more bank consolidation.
And then 2008 happened, and we got way more bank consolidation and then freaking COVID. And it brought yet more bank consolidation. Now, if these guys cannot figure out a way to stay open and pay their staff, you're going to see another consolidation wave hit and stable coins could be the could be the cause they might be rightly afraid but nothing stops this train and nothing nothing stops the shit coinery oh my god it's just it's so maddening to watch this from afar and not be able to do a damn thing about it. But check this out. Just just so you understand what's going on.
We started with a bunch of companies just buying Bitcoin. We started with MicroStrategy and then they came became strategy. Of course, we know. And then here comes Meta Planet. And then here comes similar scientific. And then we get 54 companies total or somewhere around there and they all just started getting as much bitcoin as they could. Now you've you know from what I've said strategy, similar scientific, meta planet, at least those three probably survive. There may be some questions around similar scientific. I don't know. But if I gotta pick three, I'm I'm picking those three. Oh, and and 21, Jack Maller's, company that's backed by Franklin Financial or Franklin Templeton or it's one of the Franklin groups, and they're it's a massive group. So that if I gotta pick four, I'm definitely going with those four. I do. But the rest of them, I think a lot of these guys are hail Marion.
You know, they're they're like, we're we're a dying company. We got nothing. We got no revenue. It was like, we we we shit the bed, and we just didn't we didn't really take care of what we were gonna be doing in the future if, for whatever reason, the sector we were servicing changed too much or just went away, there was no pivot. And now we're just gonna tell everybody we're buying Bitcoin. And as always happens, for the most part, at least in the earlier days of all this, the stock price went up because these are all publicly traded companies. Now now it's ether.
Oh, my god. You got Thomley and Bitmine just gobbling up as much Ethereum as or Ether as they can, and it's giving a boost to the the Ethereum chain and the price of Ether, and yet everybody seems to forget what a Rube Goldberg machine that thing is. But now that's been going on for, like, two or three weeks. Now we get into the full shit coinery phase of corporate adoption because Sharps technology, which I guarantee you you've probably never heard of, Sharps Technology jumps 70% after raising $400,000,000 for a Solana treasury.
Kristin Sandor. Oh my god. He's writing this one for CoinDesk. Nasdaq listed firm Sharps Technology, STSS is the ticker, rallied as much as 70% on Monday on raising $400,000,000 to establish what it says could become the largest corporate digital asset treasury of Solana. The firm's fundraising drew backing from one of the most active investors in digital assets, including Parafy, Pantera, FalconX, CoinFund, and Arrington Capital. Under the deal, shares were sold at $6.50 per unit with attached warrants exercisable at $9.75, closing as expected by August 28.
The stock briefly topped $13 in the morning US hours before pairing gains, up 53% from $7.30 at Friday's close. Of course, they announced it on the weekend. The company plans to allocate funds primarily toward acquiring SOL, the native token of the Solana blockchain. Alice Zhang, cofounder of Solana backed project Jambo, which, again, no one's ever heard of, also joined the firm as chief investment officer and board member. I'm I feel compelled to just stop right there. And you know what? I'm going to. This is all you need to know. I mean, cofounder of a project Solana backed project that no one's ever heard of has now become this company's chief investment officer and a member of the board of directors.
You see where this is going. Do not try to pick what's going to be selected next thinking that you're going to time this market because now there's so much counterparty risk involved in all of these companies holding. You have no idea what Tom Lee really thinks about ether, do you? Not unless you're his personal friend. Right? We've we've got demonstrated year after year after year conviction from Michael Saylor and say what you want about the man, he never has lit up. I jury's way still out on whether or not Tom Lee has any kind of conviction whatsoever or if he's just wanting to do market manipulation. And I I I don't have any thoughts on it either way other than to remind everybody that this is exactly what alt season always has been, only now it's more retarded and more fake, and dare I say more gay. It's just it it's cringe at the very roots of what cringe can be. This is Plato's ideal form of cringe because grown men and women wearing suits that hold high positions and as high ranking officers in companies that pay them probably pretty good are making the same mistakes that we've always seen made.
And they're not going to listen to reason. They're going to shit coin like there's no tomorrow. So just please mentally prepare yourself for your friends. Instead of asking about Bitcoin, asking about the next greatest shitcoin. And is it gonna make you feel filthy? Oh, yeah. It's gonna make you feel like a dirty bird. Thankfully, my friend SoapMiner can fix that. SoapMiner brand soaps from soapminer.com. That's soapminer.com. Soapminer.com is where you're going to get your handmade tallow soap. This soap is clean. Why? Because there's like maybe three, four, five ingredients depending on which kind of soap you get from SoapMiner and all of them are natural. The base soap that SoapMiner makes is three ingredients.
It's lye, it's 100% grass fed beef tallow, and water, specifically distilled water. And then, you know, if it's a if it's a peppermint, you know, mint bar, there's gonna be some kind of essential oil in there for that. If it's gonna have, like, some color, maybe he puts in some some color mineral in in into that particular bar of soap. But this stuff is is awesome. So my family has been we are still on the same bar, a family of four with two women and two men. Well, okay. I'm talking about my kids, but they're I mean, you know, my my son is almost as tall as my wife.
Actually, as as of yesterday, I think he's officially as tall as my wife. He's 12, but he's, you know, at this point, it's, you know, it's not a baby we're washing with this bar. So this thing has lasted us for I can't even remember how many weeks. I'm telling you this stuff I can use it as shampoo. Actually, I don't can. I do. I use it as shampoo. I use it as skin conditioner. I use it as shaving cream. This I use it as soap. It's great soap, and he's got so many different kinds of soap. You can get oh, he's got comfrey tallow now. Yes.
Comfrey tallow. He is he is now selling comfrey tallow soap. I gotta get some. I gotta go zap snack some of this stuff. He has Earl Grey. He's got goat's milk. He's got lemongrass. He's got orange clove. He's got redacted, which has got a lot of carbon in it. It's great for deodorizing and and getting oil and stuff off your hands. Got rough cut tallow, he's got tea trees, got pine tar, he's got lavender, he's got peppermint, he's got cedar wood, but that the comfrey soap. Do you work in a garden? Do you go outside? Do you get stung by mosquitoes?
You need to get yourself bar this. Why? Because comfrey heals. It's especially good for scrapes, bruises, like, by insect bites, especially the itchy kind, bee stings, wasp stings, unless you're allergic to that shit, which means, you know, if your EpiPen is out, you better go to the hospital and then get yourself some comfrey soap. But all the rest of that stuff, if I had had a bar of comfrey soap when we were in Colorado this last summer, my legs and arms would not look like I had broken out with chickenpox because I would have immediately just taken, like, a couple of showers a day with comfrey soap and all the mosquito bites essentially kind of go away. Get yourself some comfrey soap from SoapMiner.
Use the code Bitcoin and in the coupon code for 10% off. That lets SoapMiner know that I made a sale for him, and SoapMiner can decide whether or not that sale was worth something for him under the value for value advertising model only here at the Circle b. Okay. So Japan. 20% flat tax on cryptocurrencies. Yay. Atlas twenty one has got it all for us. The FSA or Japan's Financial Services Agency is planning a tax reform that could reshape how Japanese investors approach digital assets. According to the business daily, Nikki, the Japanese FSA intends to submit a proposal to revise the tax code for the twenty twenty six fiscal year. The goal is to align the tax treatment of cryptocurrencies with that of listed stocks.
The official request for revision is expected to be submitted by the August, Nikki sources reports. If approved, the reform would take effect in the twenty twenty six fiscal year. The reform introduces a 20% flat tax on gains from cryptocurrency trading. Currently, crypto income is classified as miscellaneous income and subject to a progressive rate that can reach up to 55% excluding local taxes. Holy. Maybe they're actually getting a deal out of this. Although, all taxes are theft, but let's continue. Crypto companies have submitted specific proposals to make Japan's tax environment more competitive. Among them is the introduction The The FSA is also working to facilitate the launch of domestic crypto ETFs by Japanese firms aiming to strengthen the competitiveness of the country's digital asset industry.
In parallel with the tax reform, the agency is preparing a bill for 2026 that would bring cryptocurrencies under the supervision of the Financial Instruments and Exchange Act, classifying them as financial products rather than means of payment regulated by the Payment Services Act. In a broader context of openness towards digital assets, the FSA is also preparing to approve Japan's first yen denominated regulated stablecoin, JPYC, issued by the Tokyo based fintech of the same name, plans to release stablecoins worth 1,000,000,000,000 yen or about 6,780,000,000.00 US dollars over three years.
The approval expected this fall represents another key step in Japan's strategy to promote crypto adoption. I wonder if Japan's bankers are freaking out about that because, you know, yields. Okay. So maybe, just maybe, the 20% flat tax is a better deal for crypto and oh, god. I can't believe it. I'm sorry. I said it. I said it. I'm sorry. I'm sorry. I'm sorry. Bitcoin investors in Japan. Maybe. I don't know. I I still think that it's like, why why do you feel the need to take a fifth of something that that I'm I was the brains behind it? What why can't you feed yourself?
I mean, it it this this may if I own my house, why am I paying why am I paying a property tax on it that if I don't pay, the authorities can come and steal my property, I e my house, and leave me homeless even though I own the house? It's my property. Well and I know the people that are in the back snickering over there. Yeah. I know. That's that's the clue that it's not really your property, is it? Now there's property tax reform stuff going on all over The United States. I hope some of them at least pass. I would I'd like to see I'd like to see Texas and governor Abbott and was it DeSantis or whatever his name is down in Florida? They're both talking about just full flat elimination of that tax.
A, where are they gonna make it up from? And b, is it is the way they make it up from going to be so onerous that you wish you had property tax back? I'm just I'm I'm just saying. This all boils back to if you guys would just run an efficient show, you wouldn't have tax revolt. You wouldn't have people like me on one side of the mic saying tax is theft, even though it's always gonna be theft. Anyway, I'm just I'm just pontificating out out loud here before we break for running the numbers. But maybe just maybe for the Japanese investors, you know, I don't know what it's like. I don't know what the tax climate is like in Japan.
It's certainly not it is certainly not no 55% here in The United States. Well, unless you make a whole shit ton of money on top of it. Like, if your income is like I think it's like you're if you're north of a million dollars a year in whatever it is that you collect, whether through a job or or investments or whatever, I think it's a million or is it over a $100,000 a year is one tax bracket for capital gains. After that, the tax bracket goes up, but I don't I don't think it goes up to 55%. So maybe the Japanese people are actually getting a break. Now let's run the numbers. Look at that.
West Texas Intermediate Oil is up two points this morning, $64.93. Brent Brent Norcey is up 1.7% to $68.91. Natural gas is down 1 and a half to $2.65, and gasoline is down but moving sideways to $2.15 per gallon. And then my favorite, my new favorite friend, Murbon Crude Oil. Never heard of Murbon before. I first saw it in cnbc.com futures and commodities last week. But, yes, here we go. Murbon Crude is up 1.68% to seventy one dollars and ninety two cents a barrel. I wonder why it costs so much more. Metals are having mostly a bad day. Gold, not so much. 0.04% of the downside, thirty four seventeen.
Silver is down almost a full point. Platinum is down 1.8. Copper, however, is in the green almost a half point to the upside, while palladium is down three and one third. Full mix in ag futures today and the biggest winner is chocolate. 2.12% of the upside and the biggest loser is soybeans. For all you soy boys out there, you lost your ass 1.06%. Meanwhile, live cattle down a half, lean hogs up point 1%, and feeder cattle are down point 6%. The Dow is frowning point 58% in the red today. S and P is down a tenth of a point, but the Nasdaq is up slightly point zero six. S and P Mini is down two thirds of one full percentage point.
And Bitcoin got getting kicked in the balls again, a $112,280 per coin gives us a mere measly pissant $2,240,000,000,000 market cap, and we can only get 33.3 oh, magic number. 33.3 ounces of shiny metal rocks with your one Bitcoin, of which there are 19,911,216.81. And average fees per block are very, very low because, you know, everybody said that Bitcoin was dead yesterday because the mempools didn't have any transactions in it. I'm sick of it. Please stop with that freaking narrative. It's just not a range because now I got 20 blocks in mempools around the world carrying somewhere around 60,000 unconfirmed transactions going for high priority, medium, and low priority rates of 1 satoshi per v byte. And mining, is it holding at 90 944 exahashes per second? So the miners aren't freaking out.
Everybody needs to stop freaking out. Because this all happened because of Jerome's Tetons, which was Friday's show of Bitcoin. And I got Lutie with 210 sat says, not sure if you followed me or not on Nostr, but I appreciate all you do, sir. Thank you, Luty. I don't remember if I followed you or not. Hit me up over on Nostr and and just just drop drop, like, at none of your business in a note and say it's me. Follow me or something like that. Perma Nerd with 210 says thank you sir, no thank you. 21, thank you sir, no thank you. Psyduck with, 749 says Psyduck.
Regalecki with a thousand says, Regalecki. And chef Tommy, whoo, knocking it out of the park. Tom, my boy Tommy gave me twenty one thousand sat seed. That that's a boost. That's the kind of boost that keeps me going. That's the kind of boost I I think about when I go to bed, when I lay my pretty little head down on the pillow to get my beauty sleep. I dream of twenty one thousand sat boost, and chef Tommy came through, says, we chef boost. Third time, but who's third time? Holy shit. Third time, but who's counting? Circular economy is strong. Keep up the signal. We are listening. Thank you. No. Thank you. He literally says, thank you. No. Thank you. See, he gets it. That means he is listening. I can tell. Paul Cernine 500 sat says thanks again for another interesting episode.
Looking forward to how the BitChat ecosystem takes off. Have a great weekend, and see you on the other side. See, I can tell Paul Cernine listens to the show because that's the ending tagline. I'll see you on the other side. Yalla with five twelve, obligatory boost. Have a great Monday. It's Monday, dude. They all suck. Anyway, Fluxcap with 200 says, great, Scott. That's the weather report. Welcome to part two of the news that you can use, and this news is about something called Aquastar, a q s t r. I just keep thinking that something to do with acquire. I'm not sure. But aqstr.com is a Noster client.
Well, kind of. It's a nostr do you think of it as a as a nostr service? But I can sign in with my private key which I I use, my out Git Albi, extension for in my browser. So it's it's holds my private key and it signs me into all these new nostril apps and I saw a qstr.com pop up yesterday and I I went to go look at it because what it was doing seemed kind of kind of interesting. What is it? Well, this is why I think it AQ somehow or another stands for acquire. If if anybody from AQSTR, whoever built this thing, could you please tell me how to pronounce it first of all and what it's trying to impart? But think of it this way.
I can assign not assign. I can build a task and you can take that task and earn Satoshis by performing the steps in that task. Now, right now, it looks like it's just about boosting somehow or another boosting other people's notes on Nostr. Hey. It's a clean start, man. I mean, there's there's nothing wrong with that. I see this as being able to to to go into completely different places. But for right now, let's just focus on this task at hand. If I go to aqstr.com and I log whether I log in with my private key or not, but to take part of this, I have to be in my private key, but I I will probably be able to see the tasks that are available. And right now, there are three available tasks.
Actually, I'm gonna refresh that just for shits and giggles, and yes, there are three available tasks. I first saw this yesterday, so it's probably it probably just got spun up yesterday, like, a whole bunch of other stuff is being spun up. Okay. So if I've got I'm looking at I'm looking at at the page, and I have three options. I and I've got three boxes and each box says like at the top says Nostra Boost and then I get a title like boost the Bitcoin and podcast. That was the task that I built yesterday. So I'm gonna go I'm gonna dive in there. And what I've done is it gives me a place where I can put in a note.
So all I did was just say, hey, it's Jerome's Tetons episode eleven fifty three of Bitcoin and is live, and then I give the topics. This is for anybody that that sees the way that that I announce a new show. I'll be doing the exact same thing today. It's the exact same thing. So, I just copied that from where it is that that I keep all my show notes, and I drop it into the content to be boosted portion of this task. And then and then I assigned how much each task would get in Satoshis so I put in for likes if you like if you see that note and you like it and you'll you'll know that it comes from from aqstr.com by the by the way that that is presented in your browser. If you like that note, you'll get I I went cheapskate just to test it out because I did not who knows? I mean, I didn't want to get rug, so I said everything to, like, like, 10 satoshis for each like.
If you repost that same note, you'll get 20 sats. If you reply to that note, I'm only gonna give you 5 because chances are good you're gonna put in a semicolon. For all you bit chat folks out there, I think you know what I'm referring to. Get on bit chat if you if you wanna know the inside jokes, man, because you you need to try it out. And then follows if you follow follow my account I'll give you five SATs each on just this one task so what will happen is you'll see this this come up in your browser as a nostril note but you'll know that you can get money from it.
And if you like it, you'll get 10 sats. And then if you repost that thing, you'll get 20. And it goes down the list. And so what we have is a like, a repost, a reply, and a follow. Those are the tasks. So I said, okay. Look. I'll I'll cut 6,000 satoshis for this campaign. So it's like an ad campaign. So I gave it a budget of 6,000 Satoshis. Well, actually, I gave it a budget. Well, I had to pay 6,000 Satoshis so that I could give it a budget of 5,000 Satoshis, which means they took a thousand Satoshis off the top. I mean, hey. You got to feed your kids somehow. Right? But since I've posted this, a 122 hold on. A 122 separate actions have been completed, and those came from 36 separate in pubs.
I'm 25% through my realized budget which means that I this could still go for like another was what what would that be? 366 actions could be done, you know, somewhere somewhere around there on average. It's been running for one day. I I posted it up last night before I went to bed or not before I went to bed yesterday evening and, before I started making dinner. That's when I posted. Before I started making dinner, I was like, oh, hey. Let's try it out. And I mean, my phone was just blowing up. Holy shit this thing actually works man. I've never gotten I've never gotten let's see how many people like this. Let's see. Let's see what I can see down here.
It's not give it's not breaking it down for me. It just says completions so I'll have to go back. Bear with me. I'm gonna oh, man. I'm gonna view this on Primal and see where what it says, if I can get how many people reposted it. Come on. You can do it. You can do it. 33 reposts. I've gotten I'd never get that many. You know? I never get that many and it's like it's because I incentivize people to say, hey, man. If you repost it, I'll give you I'll throw you some sats. I was a complete cheapskate with it and but like I said I didn't want to get rugged so I just say hey say you know $6 whatever dude you know that's like chump change.
Well I it is like a whole coffee that I could probably get from Starbucks but still it's $6 it's not like I put 6,000 on here. Okay? So but I got 41 likes out of it. I got 28 replies, and I got 33 people that reposted the note. I've never gotten that activity on a simple show announcement post ever anywhere. I mean, this thing actually works. So again, if you want to try it out, go over to aqstr.com. That's aqstr.com and give it a go. You know, like, what else can we do with it? I mean, do I and what else will come out of it? And if they if if it gained some traction, then the creator or creators might say, well, people are using it for this. What else what else can we do with it? What else can we because if nobody uses something, the people that build it are just gonna go away.
And honestly, look, sure, it could be used for evil. Hell, but I advertise for SoapMiner because I love the guy and I love his soap. And I think it's a good product and me and my family use it and we don't use any other soap anymore. It's a good I want you to know about it. I think it has value. Right? I think this has value. Will somebody use it to shit coin? Abso freaking lutely. That's not a qstr.com's fault. That's the person that chose to use it to shit coin right be the difference that you want to see in the world go to aqstr.com and try it out and like I said if any if any of the people that have built this app is listening to this show or if you're listening to show and you know who built this thing get them in touch with me because I want to know way more about what's going on here and I want to know where they're going with it because I think I think all kinds of interesting things that my my puny little imagination can't think of right now are in are are completely possible.
But I wanted to take a little trip back to Japan where Meta Planet has joined the FTSE Japan index as it continues to stack Bitcoin Vince Di Aquino from Decrypt. Meta Planet will be added to the FTSE Japan index, further embedding the world's largest digital asset into mainstream equity portfolios. The change was confirmed in an announcement from FTSE or the FTSE Russell September 2025 semi annual review on Friday, which upgraded upgraded Meta Planet from small cap to mid cap status with the index inclusion taking effect after market close of September 19. Meta Planet's inclusion marks another important milestone as it attempts to stay as Japan's leading Bitcoin treasury company according to CEO Simon Gurevich because he wrote that shit on Twitter.
Anyway, shortly after Gurevich announced the occlusion, the company disclosed the purchase of an additional 103 Bitcoin bringing its total to 18,991 BTC. They also updated the capital structure saying that 49,000 stock acquisition rights were exercised in the week of August 18 through the twenty second adding 4,900,000 shares and lifting the total to 722,000,000, a step that funds further Bitcoin purchases but leaves each existing investor with a smaller slice of the company. You just got diluted. That's what that means. You just got diluted. Anyway anyway, Eric Trump appointed as a strategic adviser to Meta Planet, I forgot about that, in March, will reportedly attend Meta Planet's next shareholder meeting in Tokyo in September according to Bloomberg. In part of the FTSE global equity index series, the FTSE Japan index tracks mid and large cap companies listed in Japan.
Funds that track the index automatically buy the stocks it lists. That's that's why it's going to actually be included. How it's going to now have massive exposure to retail and institutional and corporate and commercial because it's now it's jumped from small from small cap to mid cap and the FTSE listed it. You you you just made the big time. You just made the big time. Okay. So Meta Planet's inclusion in the FTSE Japan and all world indices creates a regulated route for BTC exposures, and it paves the way for other crypto forward companies. Got it. Stop using that. Crypto companies to join major benchmarks. Vincent Liu, chief investment officer at Kronos Research, told the crypt. In effect, quote, passive flows into the FTSE indices could channel institutional capital into Meta Planet to offer indirect Bitcoin exposure, boosting liquidity and long term stability despite risks where large movements could still ripple through both equity and crypto markets, Lou said.
At a structural level, the promotion shows that Bitcoin treasury strategies don't create barriers to index inclusion, Ryan Yoon, senior analyst at Tiger Research, said sorry. I'm kinda running out of steam here, man. Meta Planet was likely evaluated using standard criteria like market cap and trading volume without separately considering their Bitcoin holdings. However, the inclusion appears to represent, quote, the existing index frameworks neutral approach rather than active crypto acceptance, Yoon noted. Quote, passive inflow effects exist structurally, but practically impact remains limited, Yoon said, explaining that while pension funds and index funds automatically purchase Meta Planet shares when tracking FTSE Japan, it produces small index weighting which means minimal direct Bitcoin demand.
What's problematic according to Yoon is that investors might think they're making diversified Japan equity investments while actually being exposed to both Bitcoin price volatility and the company's execution capability in acquiring said Bitcoin. Now at nearly 64% of its 2025 goal, once Meta Planet reaches its 210,000 BTC target, the dependency on Bitcoin could intensify and potentially create quote unexpected volatility for passive investors who did not anticipate such crypto exposure, Yoon said. Well, again dangers are everywhere. And my God almighty, I mean, it's like even if I if I buy a company if I buy stock in a company that has no exposure to Bitcoin whatsoever, does that mean that I have no volatility risk? That's bullshit.
This is yet one more phase of volatility risk, and it introduces, you know, like all banner of third party or third or rather third party risk or counterparty risk. Well well, third party risk is is the best way to put it. But the that that has always been true of all of this stuff. You can't trust your own pal to stand in front of a podium and say the shit you want to hear him say because you hold treasury bonds. You could lose and people have lost big time as the interest rates on bonds started to increase. They were getting their asses handed to them. Whole banks folded because what they used to be able to say was the value of their bank now is nowhere close to the value because the bonds that they held lost their face value as interest rates increased.
So blaming it all on Bitcoin, I don't think is gonna I don't think that's gonna swing very much retail going, oh my god. I I think it would be somebody else who would be scared to buy, you know, Meta Planet or start bitching at the FTSE for saying, I can't believe you got us into this vehicle, you know, just because we're buying FTSE. We didn't know that we were gonna be buying Meta Planet. I mean, sure, there's probably gonna be phone calls and some angry emails or whatever, but, honestly, everybody just needs to kinda grow up a little bit. Now we come to a major loss for a fellow Bitcoiner, and I'm not gonna make fun of this guy, but he lost 783 Bitcoin.
Not $7.837183 Bitcoin in a single social engineering scam. This is Alex Larry out of Bitcoin News. A Bitcoiner has fallen victim to one of the largest individual Bitcoin thefts ever, losing 783 Bitcoin, which was worth more than $90,000,000 in one single transaction. Oh, god. This just hurts to read. The theft was revealed by blockchain investigator, Zach XBT, who described it as a social engineering attack where scammers posed as support staff from a digital asset exchange and a hardware wallet provider. According to data, the incident occurred August 19 at 11:06AM UTC.
The scammers reportedly convinced the victim that they were support agents, and by impersonating trusted companies, they were able to get the investor to share wallet information. Within minutes, they drained the wallet of all 783 Bitcoin. Zach reported the hacker posed as customer support reps from both a digital asset exchange and a hardware wallet company to steal the victim's funds. This is a social engineering attack where criminals manipulate or deceive individuals into revealing confidential information, and I'm I'm gonna add something here, revealing confidential information that they would otherwise be completely unable to get.
They didn't hack the information. They hacked his brain for the information. That's what makes this so fucking insidious. Anyway, unlike hacks that exploit software weaknesses, these attacks exploit human trust. That's why these are so terrible. But a day after the theft, the attackers started trying to launder the stolen Bitcoin through Wasabi Wallet. This makes it hard to trace where the money goes as stolen coins are mixed with legitimate ones from other users, and analysts say this is common among cyber criminals. And then and then by moving small amounts at a time, criminals test if exchanges will flag or block the funds before attempting larger transfers.
Notably, ZacXBT reported that the stolen Bitcoin was first sent to a clean wallet address. Experts believe this was planned to avoid raising immediate suspicion. While the attacker is unknown, ZacXBT ruled out North Korea's Lazarus Group, which had been behind some of the larger digital asset heists in history. Instead, the theft is thought to be the work of individual scammers skilled in impersonation and fraud. Interestingly, the theft occurred exactly one year after $243,000,000 Genesis creditor hack in August 2024, which itself was a social engineering scam.
Some have speculated the timing was intentional, but there is no evidence linking the two events. This is a scary trend. Social engineering scams are getting more and more common in the digital asset space. In the past few years, scammers have impersonated hardware wallet companies like Ledger and Trezor, even sending out fake emails and physical letters to users to share their secret recovery phrases under the guise of a critical security update. Victims range from seasoned investors to elderly individuals. In a similar scam earlier this year, one American lost over $330,000,000 in Bitcoin.
Zac said users need to be vigilant with these scams. Responding to a comment about how to guard against such attacks, Zach x b t said, quote, by assuming every call and every email you receive is a scam by default. Zach's not wrong that is always my assumption always my assumption I've been getting email after email after email over the last two weeks not not from a crypto company somebody who just wants to scam me or phish me by saying that my cloud storage is about to be deleted. And, of course, all all I have to do is look at the email address and go, that's not an email address from from anything. That's just that that's a burner email address.
But even if even if it wasn't, like, let's say, hey, man. This is, this is Adam's cloud storage company, and your cloud storage is about to be deleted. So you need to click here. That's your first clue. You need to click here so you can go re up, you know, how much money you're giving us or or or update your payment information. There's another clue that that kind of thing. And all I do is I go like I'm still using, you know, I use Outlook. Not no, I'm sorry, not Outlook, Gmail in the Gmail browser. I can just go over and I can say report report this email is phishing, but I keep getting them again and again and again and again. And one of the other parts of a social engineering attack is to wear you down where they send the exact same email so many times that you start thinking in the back of your head well wait a minute Did I have this service?
And that's where the at that point, you know, it's starting to be effective, and you need to stop that shit right now. Just ask yourself a question. Exactly what percentage of emails do you get to a personal account that would be devastating if you deleted them and didn't respond to them at all? It's going to be a percentage. I mean, there's going clearly, it's like, hey, man. You're you're late on your bill. You need to pay us your the money. Yeah. If it's enough money and it's, like, the right then, yeah, like, your AT and T bill, they cut off your fucking phone. You know, you're done. You know? And then you got to go groveling to get your phone service back. Stuff like that. Yeah. I mean, like or or, you know, that's not really devastating. But, like, let's say, you know, a family member died and you were just deleting emails and you didn't ever find out about it and you didn't get to go to your own, you know, mother's funeral or you get what I'm saying. But what percentage is that? Is it 5%?
Is it more like 10%? I doubt it. I would I'm gonna be conservative and say 92% of all the emails we get could be thrown in the trash can immediately, never clicked on, never seen. We have no idea what the content was, and life would go on without any incident whatsoever. But one mistake like this can cost you life changing amounts of money. Nobody is asking you who's credible for your seed phrase. If they are, it is a scam. They are going to take your money because if you give them your seed phrase, what you're actually doing is giving them your wallet and all access to the wallet, meaning they can vector the funds directly out of your wallet to anywhere they so choose and you're never going to see it again.
Do not click on links in emails. Scan the address of the email sender. Look. Does it make sense? Is there a match to the company name that they say that they're representing? There's another clue. If they say something like your payment information has been compromised, it's probably a clue that it's a scam. Please, for the love of God, be careful with this stuff Because this is beyond a bad day. This can cause somebody to do something very, very drastic, like suicide, or enter into the depths of a depression that they never escape from. That's why I'm so sad for this person.
You know, I mean, there's really nothing else to say about it except please, if you're listening to me, I don't wanna ever hear this story from you. I don't ever wanna hear this story from you. I don't ever want to hear this story from you. I'll see you on the other side. This has been Bitcoin and and I'm your host, David Bennett. I hope you enjoyed today's episode and hope to see you again real soon. Have a great day.
Introduction and Episode Overview
Bitcoin Market Update and Corporate Coin Concerns
Conclusion and Final Thoughts