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Quick Take Elon Musk and representatives of the Department of Government Efficiency, which Musk leads, have reportedly spoken with blockchain providers while exploring options for putting federal government systems on-chain, according to a Bloomberg report. Possible use cases include tracking federal spending, managing buildings, and making payments, though talks still appear to be in early stages.
Quick Take VC firm Paradigm called for Ethereum to increase its development speed in a post co-authored by the firm’s co-founder and its CTO alongside other partners. “Wherever you think Ethereum should go, surely it is better to get there faster,” the post argues.
Quick Take Solana DEX aggregator Jupiter, as part of its “Catstanbul” event, announced its acquisition of memecoin platform Moonshot, launched a $10 million fund for open-source AI development in conjunction with Eliza Labs, and introduced the ‘Jupnet’ omnichain network, currently in early testnet. Jupiter also debuted a ‘V2’ version of the platform, declaring the platform is once again in beta as new features are added for “every single part of the stack.” At the event, AI project Eliza Labs announced an
Quick Take U.S.-based spot Bitcoin ETFs have racked up nearly $40 billion in cumulative net inflows since their launch just over a year ago. A recent seven-day inflow streak has brought the ETFs to their highest value yet this week — over $123 billion in total net asset value. Nasdaq filed an amended rule filing on Friday that would allow for redemptions and creations in kind for the iShares Bitcoin Trust, the largest such ETF on the market.
Bitcoin could reach $150,000 this cycle, and if it goes above that price level, will probably come “back down through it,” says Glassnode analyst James Check.
- 14:06PUMP Token Public Sale Surpasses 60% Completion in a Short TimeAccording to Jinse Finance, information from relevant pages shows that over 60% of PUMP tokens have been sold in a short period during the public sale. As of press time, 39.37% of the tokens remain available for public sale.
- 13:52This week, 35 corporate entities implementing Bitcoin treasury strategies collectively purchased 4,700 BTCAccording to a report by Jinse Finance, citing statistics from @btcNLNico, entities implementing Bitcoin treasury strategies purchased a total of 4,700 BTC this week. Among them, six new entities adopted Bitcoin treasury strategies, acquiring 491.2 BTC; in addition, ten companies announced plans to implement treasury strategies in the future, with ReserveOne holding as much as $1.05 billion in funds; furthermore, 29 companies increased their holdings by 4,209 BTC.
- 13:32Economist: Bitcoin Supply Is Not What Matters—It's the Satoshi Supply That CountsOdaily Planet Daily News: Economist and well-known Bitcoin skeptic Peter Schiff posted on X, saying: "What would happen if the supply of Bitcoin were 21 billion instead of 21 million? If each Bitcoin were redefined as 100,000 satoshis (instead of 100 million), with the total supply of satoshis remaining unchanged, would it still feel scarce? '100 million' is just an artificially set unit; the actual supply of Bitcoin doesn't really matter. What truly determines scarcity is the supply of satoshis."