What is happening in Bitcoin, and why it matters
News, analysis, and essays. Reported clearly and framed honestly. Educational only, never financial advice.
Bitwise Interviews 15 Institutions: Every Crypto Holder Owns Bitcoin, None Cut Its Allocation in the Drawdown
Bitwise's first institutional adoption report draws on 15 interviews with endowments, pension funds, sovereign wealth funds and family offices. Bitcoin is in every crypto portfolio, most allocations sit between 1 and 2%, and none was reduced during the roughly 50% decline. Public filings from the same months show a more mixed picture.
Bitget Loses 351.6 Million Dollars in Hot Wallet Breach. Its Protection Fund Holds 5,500 BTC.
Attackers moved about 351.6 million dollars in XRP, ether and stablecoins out of Bitget's hot and warm wallets on September 24. Bitget says no private keys were stolen and that its bitcoin-denominated protection fund covers the loss.
Circle Opens Bitcoin-Backed USDC Borrowing to Institutional Clients
Eligible Circle Mint customers can now deposit bitcoin, mint cirBTC and borrow USDC through the Morpho lending protocol. The product is institutional only and runs on Arc and Ethereum.
House Committee Advances Strategic Bitcoin Reserve Bill 28 to 21
The House Financial Services Committee voted 28 to 21 on September 16 to advance ARMA (H.R. 8957), which would write the Strategic Bitcoin Reserve into law. The revised text locks all federal bitcoin for 20 years but authorizes no purchases.
Senate Cloture Vote on the CLARITY Act Fails 49 to 50
The Senate rejected the motion to proceed to the Digital Asset Market Clarity Act on September 15. Every yes vote came from Republicans, four Republicans voted no, and one senator filed a motion to reconsider.
Irish Study Models Bitcoin Mining as Supply-Side Flexibility for Wind Farms
A Technological University of the Shannon study pairs a 100 megawatt Irish wind farm with Bitcoin mining and finds a 20 megawatt rig can absorb 83 percent of otherwise-curtailed power. Only flexible operating models turn a profit, and returns hinge on the Bitcoin price outrunning network hashrate.
Bitcoin Red Team Completes First Scan of the Open-Source Ecosystem, Files 7,958 Findings
The volunteer Bitcoin Red Team says its first AI-assisted pass over the public Bitcoin open-source ecosystem is done, reporting 7,958 potential findings across 501 projects, with Lightning software flagged as the worst affected.
BIP-110 Nears Mandatory Signaling With Minimal Miner Support
BIP-110's mandatory signaling window is expected to open around August 9. Miner support has stayed in the low single digits, far below the 55 percent threshold, and a reproducible bug has been reported in the activation client.
Coldcard Firmware Flaw Linked to Theft of More Than 1,000 Bitcoin
Hardware wallet maker Coinkite confirmed a firmware bug that weakened seed generation on several Coldcard models. Roughly 594 Bitcoin were swept from about 500 wallets on July 30, and analysts now link a total of about 1,082 Bitcoin to the same pattern.
Industry-Funded Study Puts US Crypto Employment at 34,000 Direct Jobs
The National Cryptocurrency Association published its Crypto at Work report on 22 July. It puts direct employment at crypto companies at 34,000 and models a further 198,000 supported jobs across the wider economy. The authors flag several modelling assumptions.
Senate Republicans Release Merged CLARITY Act Text With New Ethics Section
The 616-page draft keeps the market structure intact and adds a ban on federal officials issuing or sponsoring digital assets. Seven Senate Democrats whose votes the bill needs said the text falls short.