Author: Tristan Lodenberg

The New Hampshire Business Finance Authority is planning to issue $100 million in bitcoin-backed bonds, marking a notable step in the use of digital assets within public financing structures. According to the details, the bonds will be structured into two classes with an initial total balance of $100 million, although the exact allocation between the two classes has not yet been determined. The bonds will be collateralized by a loan backed by bitcoin, forming the primary repayment source. While issued through a quasi-public state authority, the bonds are designed as limited recourse obligations, meaning repayment will rely only on proceeds…

Spot Price Still Above Realized Value Signals Incomplete Market Reset Bitcoin is moving closer to levels historically linked with long-term buying opportunities, though on-chain data suggests the market has not yet reached a classic accumulation phase. Current data shows bitcoin trading near $67,500 while its realized price the average cost basis of all coins stands at approximately $54,286. This leaves bitcoin about 21% above realized price, meaning most holders remain in profit. The premium has compressed sharply from roughly 120% in late 2024, when bitcoin traded above $119,000, to about 21% today. Analysts view this rapid narrowing as a sign…

Tokenized iBoxx US Treasuries Index Signals Shift to Onchain Finance S&P Dow Jones Indices has tokenized its iBoxx US Treasuries Index on the Canton Network, marking a significant move toward blockchain-based financial infrastructure. The index, created in collaboration with Kaiko, tracks the performance of US government bonds across multiple maturities and serves as a widely used benchmark for institutional investors. The tokenized version is not designed as an investable product but as a digital tool that allows institutions to integrate benchmark data, including pricing and index levels, directly into blockchain systems. Access to the index remains permissioned, ensuring that usage…

Ripple Labs has partnered with Convera to enhance cross-border payments using stablecoin and blockchain infrastructure. Convera, previously known as Western Union Business Solutions, operates across more than 140 currencies in nearly 200 countries and territories and was acquired for $910 million in 2021. Convera CEO Patrick Gauthier said the company has taken a measured approach to digital currencies while monitoring growing demand for crypto-based payment solutions. He described Ripple as a natural partner as the adoption of stablecoins continues to expand. Stablecoin Sandwich Model Aims to Simplify Global Transfers The partnership will use a “stablecoin sandwich” model, where payments begin…

Bitfarms shares climbed more than 5% after the company reported a $284 million net loss for 2025, reflecting costs tied to its transition from bitcoin mining toward artificial intelligence and high-performance computing infrastructure. CEO Ben Gagnon described the shift as a “deliberate and consequential transformation,” noting that the company plans to rebrand as Keel Infrastructure and gradually exit legacy mining operations. Despite losses, revenue rose 72% year-over-year to $229 million. Operating losses reached $150 million compared with $28 million in the previous year, while losses from continuing operations totaled $209 million. The company also reported swings related to its bitcoin…

Market Reaction to Iran Security Guarantee Proposal Bitcoin and U.S. stocks moved higher after reports indicated that Iran’s President Masoud Pezeshkian is prepared to end the conflict if security guarantees are provided. The comments raised expectations of a diplomatic path that could reduce geopolitical risks and stabilize global markets. Bitcoin climbed to around $67,800, gaining nearly 2% over 24 hours, while U.S. stocks advanced sharply. The Nasdaq recorded gains of about 3.1% following the report, reflecting renewed investor confidence. Oil Prices Slide as Conflict Fears Ease Oil markets reacted in the opposite direction, with WTI crude falling from just under…

Veteran trader Peter Brandt said Bitcoin may not reach a new all-time high in 2026, suggesting the next record could occur around the second quarter of 2027. Bitcoin previously reached its peak of $126,100 in October last year and is currently trading near $66,329, down about 47% from that level and 3.46% over the past seven days. Prediction platform Polymarket reflects similar sentiment, assigning only a 15% probability that Bitcoin will reclaim the $120,000 level during 2026. Brandt also noted that Bitcoin could retest or move slightly below price levels seen in September or October this year, potentially forming the…

Iran’s Islamic Revolutionary Guard Corps (IRGC) has issued a warning that it could target 18 United States technology and defense-related companies operating across the Middle East. The statement warned that action could begin as early as tomorrow night if Iran’s senior commanders are targeted in ongoing regional tensions. The IRGC urged employees working at the listed companies to evacuate immediately and advised nearby residents to leave surrounding areas. It described the targeted firms as “terrorist” entities allegedly supporting United States and Israeli military operations against Iran. The companies named in the warning include Cisco, HP, Intel, Oracle, Microsoft, Apple, Google,…

Coinbase’s Ethereum layer-2 network Base has announced major system upgrades as part of its 2026 mission, vision, and strategy roadmap, aiming to support the growing AI agent economy. The network stated that AI agents are increasingly discovering crypto markets as their native economy, enabling them to build, own, and trade assets alongside users. Base plans to upgrade its applications and blockchain into a “purpose-built market infrastructure,” introducing agent-native smart accounts, tokens, command line interface access, and model context protocol connectivity. Payment tools such as Coinbase’s x402 protocol will allow AI agents to conduct automated financial transactions. The network also aims…

Token issuance failure rates have reached unprecedented levels, according to insights shared at the EthCC conference. Darius Moukhtarzade, a researcher at 21Shares, identified the widely used “low circulating supply, high fully diluted valuation (FDV)” model from 2024 to 2025 as a primary cause of declining token performance. He explained that projects often launched with limited circulating supply, which artificially pushed prices higher. As locked tokens were later released in concentrated phases, internal selling pressure increased sharply. Retail investors struggled to absorb this supply, creating a downward “death spiral” that weakened market confidence and led to failed token launches. Framework Proposed…