Greetings Earthling,

Welcome to the 17th edition of Bitcoin Breakdown, where I help ensure your species stay the course during your pre-hyperbitcoinization era​.

In celebration of reaching over 1,000 active subscribers, I am partnering with my email newsletter service provider, beehiiv, for this edition.

This issue also marks the first time when the popular 'Quick Bits' section is featured as a standalone email. Hope you enjoy!

📰 HEADLINES

Lightning Labs releases new tools that allow AI to send payments in BTC. AI applications like OpenAI’s GPT series can now hold, send and receive bitcoin using the suite of new tools unveiled by the Lightning infrastructure firm on Thursday. Until now, AI platforms have relied on outdated payment methods like credit cards and passed on the costs of using such methods to end users, limiting use cases and reducing general access to AI software. Marty Bent points out that the ability for AI companies to incorporate gated API access via the lightning network is going to do wonders for capital efficiency, user and company information security, extensibility, and accessibility of all involved.

BlackRock CEO Larry Fink, who once referred to Bitcoin as an “index of money laundering,” appeared on Fox Business with a more positive perspective on Bitcoin, referring to it as an international asset and inflation hedge, comparing it to "digitized gold", and stating that it has the potential to revolutionize finance. He further expressed his belief that his Bitcoin ETF would make the sector “more democratized”.

Bitcoin is no longer correlated to US Stocks. The 90-day rolling correlation between Bitcoin and Nasdaq, S&P 500 is now at the lowest level observed since July 2021, according to data tracked by crypto derivatives analytics firm Block Scholes.

TOGETHER WITH BEEHIIV

The Newsletter Platform Built for Growth

When starting a newsletter, there are plenty of choices. But there’s only one publishing tool built to help you grow your publications as quickly and sustainably as possible.

The all-in-one publishing suite comes with built-in growth tools, customization, and best-in-class analytics that actually move the needle - all in an easy-to-use interface.

If you’ve considered starting a newsletter, there’s no better place to get started and no better time than now.

⚡️ QUICK BITS

• Commodity Futures Trading Commission orders two Florida men to pay $5.4M in Bitcoin fraud case.

• Binance Australia raided by regulator just weeks after Europe HQ raid.

• Binance is facing a significant management crisis as several key executives resigns.

• Majority of Canadians willing to use CBDC and believe their privacy will be guarded.

• US Homeland Security returns $314K of $3.6B stolen in 2016 Bitfinex hack.

• Bitcoin mining revenue for Q2 surges to $184M due to BRC-20 hype.

• France set to allow police to spy through phones.

• Thailand and Singapore bans exchanges from offering lending services, focusing on investor protection.

• Voltage releases Surge tool for lightning network node management.

• Boltz introduces a new web app, bringing together liquid & bitcoin mainchain swaps under one roof.

• Advanced Nostr Search is a handy tool to search Nostr notes.

• Zaplife shows a real-time feed for Nostr zaps.

• Bitfinex launches peer-to-peer platform ‘Bitfinex P2P’ in Venezuela, Argentina and Colombia.

• KuCoin implements mandatory KYC checks.

• Bitcoin Script Project in an open initiative that invites Bitcoin developers to re-focus on innovation on Bitcoin script itself instead of “L2s” and “sidechains”.

• World Economic Forum praises CBDCs, calls for “public-private partnerships,” and lists “advancing cashless societies” as motivations for the tech.

• Revolut US to delist ADA, MATIC and SOL in September.

• Mastercard is launching a beta version of a blockchain app store which will be permissioned and built on Etherium.

• NVK n the importance of having your Bitcoin in cold storage and tips on getting started on maximizing your privacy (11:17 min watch).

• Nabi, the stunningly designed Bitcoin node, is live on Geyser.

• CME Group, which operates financial derivatives exchanges in Chicago, announces plans to launch ETH to BTC ratio futures.

• UK has turned a bill into law that enables financial regulatory supervision over crypto and stablecoins.

• Nassim Taleb embarrasses himself on CNBC (2:56 min watch).

• CryptoQuant: miners sent over $1B BTC to exchanges over two weeks.

• North Carolina to commission a $50K Treasury study to find out whether it should hold Bitcoin.

• Tether signs agreement with country of Georgia to develop Bitcoin and peer-to-peer infrastructure.

• Anita Posch releases short video on how Bitcoin fixes property rights (1:55 min watch).

• Carl B Menger argues that spending Bitcoin is the surest way to increase Bitcoin adoption.

• Slovakia lowers Bitcoin capital gains tax rate from 39% To 7%.

• Bitcoin-friendly Belarus to tighten crypto controls.

• New Global Financing Pact Summit says the IMF should simply “create” trillions of dollars and then hand it out to every country.

• South Korea passes Virtual Asset User Protection legislation to regulate unfair practices and safeguard investors.

• Super Testnet releases Bitpac - Publicly auditable cooperatives that live on Bitcoin.

• Celsius, the bankrupt crypto lender, grants has been granted court approval to liquidate all its altcoins.

• CBDC Tracker shows 130 countries are diving into CBDCs.

• CivKit Node released, taking one step closer to the proposed censorship-resistant peer-to-peer market system built on top of Nostr and the Lightning Network.

• Riot Platforms, the second largest publicly traded Bitcoin miner in the world announced that they are purchasing 33,000 new machines from MicroBT, Bitmain’s competitor.

• Prime Trust accused of using customer funds to cover lost deposits.

• Amboss launched a new pre-paid credit system called Ambucks, allowing anyone to fund their Lightning node with a credit or debit card.

• Bitcoin Beach Brazil became the first ever Geyser project to stack more than 100,000,000 sats in a single month on their platform.

• Robert Breedlove on why Bitcoin is perfect money (6:13 min watch).

• The United Arab Emirates is the fastest-growing bitcoin mining hub in the Middle East.

• Bitcoin Depot becomes the first Bitcoin ATM operator to be listed on the NASDAQ.

• Singapore Securities Regulator to require VASPs to keep customer assets in a trust.

• Paysafe Payment Solutions, Binance’s euros banking partner, will stop supporting the exchange after Sept 25.

• Tether CTO says AI would use Bitcoin over more centralized cryptocurrencies like stablecoins.

• New Bitcoin Standard BRC-69 removes data limit for Ordinals.

• “Britcoin” digital pound would be able to check alcohol buyers’ ages.

• Huobi data breach 'almost' leaked KYC information of 4960 'whale' users.

RECOMMENDATIONS

Bitcoin For Families is a fantastic newsletter that focuses on Bitcoin through the lens of macro and personal economics.

Sign up for free to learn something new every Saturday on how to save with the only hard money available today: Bitcoin.

😍 LIKE WHAT YOU’RE READING?

I am rewarding you with 5,000 free satoshis for every new subscriber you successfully refer to the newsletter. Max 100 referrals per individual.

You currently have 0* referrals. That’s only 1 away from receiving 5,000 satoshis paid directly to you

Or copy and paste this link to refer people: https://www.btcbreakdown.com/subscribe?ref=PLACEHOLDER

*Please reply to this email if you believe you have referred more than this already so I can properly update the new referral system.

💥 MEME BREAK

OTHER NEWSLETTERS TO CHECK OUT

• Get curated podcasts, investment insights, and articles from seasoned asset managers with The Rollup → [link]

• Unleash your creativity with For The Interested: A free newsletter featuring ideas to help you produce, promote, and profit from your creations → [link]

• Embrace resilience and virtue with ancient philosophy by joining the 9000+ strong Stoic community with The Stoa Letter → [link]

• Dive into the world of crypto with Ponder Crypto → [link]*

• Elevate your financial acumen with the Long Term Mindset newsletter → [link]*

• Be part of 100,000+ professionals staying ahead of AI trends with The Neuron → [link]*

*One click subscribe link

Thank you for reading!

If you enjoyed this week’s issue then please forward it to a fellow bitcoiner and/or consider leaving a tip below or here.

If you received it from a friend and would like to subscribe, please click here.

Until our next transmission,

Naiw

Support independent Bitcoin content and consider leaving a Lightning tip:

[email protected]