A new proof-of-liabilities (PoL) scheme for Chaumian ecash systems, particularly Cashu on Bitcoin’s Lightning Network, enables users to detect mints issuing unbacked tokens. The proposal, outlined by developer Calle in “A Proof of Liabilities Scheme for Ecash Mints,” requires mints to publish auditable mint proofs (all issued via blind signatures) and burn proofs per keyset epoch, while rotating keys on a fixed schedule, such as monthly. “If clients remain vigilant... users of a mint can detect whether a cheating mint has printed unbacked ecash during a past epoch,” the document states. Combined with on-chain proof-of-reserves and multisig custody of most funds, the approach curbs both fractional-reserve inflation and sudden rug-pulls, strengthening trust-minimized digital bearer assets. Regular epoch rotation forces token recycling, turning time into an enforcement mechanism that empowers users and raises the cost of fraud.
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Indiana lawmakers introduced House Bill 1042, sponsored by Rep. Kyle Pierce (R-Anderson), that would mandate state-managed public retirement plans, including teachers’ pensions, public employee funds, lawmakers’ accounts, and 529 college savings plans, to offer at least one digital-asset ETF option, giving Hoosiers direct exposure to bitcoin through regulated vehicles. The measure also prohibits local governments from imposing unreasonable restrictions on bitcoin payments, mining operations, or self-custody of private keys, while limiting court-ordered disclosure of private keys to cases where no alternative evidence exists. “Digital assets are quickly becoming part of everyday finances, and Indiana should be ready to engage in a smart, responsible way,” Pierce told Bitcoin News. A new Blockchain and Digital Assets Task Force would additionally explore statewide adoption and pilot programs, positioning Indiana as the forward-leaning jurisdiction in the expanding industry.
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In a wide-ranging discussion on the What Bitcoin Did podcast, author Seb Bunny, whose book The Hidden Cost of Money explores fiat currency’s societal distortions, argued that “everything is downstream of money.” Speaking with host Danny, Kouhi linked broken monetary systems to poverty, inequality, environmental overconsumption, and political dysfunction, asserting that endless money-printing destroys incentives to save and pushes people toward short-term extraction rather than long-term value creation. “Let’s just stop printing money so people can actually save back in the currency again,” he urged. Kouhi praised Bitcoin for realigning incentives toward fiscal responsibility and individual sovereignty, warning that without a strong “freedom money” ethos, the bitcoin industry risks becoming overly financialized. He celebrated veterans quietly building lives and families after achieving financial freedom, while lamenting newer entrants who focus only on price. Kouhi expressed guarded optimism that separating money and state remains the pivotal step toward prosperity.
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A class action lawsuit filed in the Southern District of New York accuses Bitdeer Technologies Group (NASDAQ: BTDR) and executives including CEO Jihan Wu of misleading investors about the development timeline and energy efficiency of its next-generation SEAL04 Bitcoin mining ASIC chip. The complaint, authored by plaintiff Ismail N. Sakar, alleges that repeated assurances of an “on track” 5 J/TH” chip ready for mass production in Q2 2025 concealed serious design issues, forcing a dual-track redesign and significant delays revealed early November, 2025. “Defendants continually reiterated that the SEAL04 research and development remained on track,” the suit states, yet early samples achieved only 6-7 J/TH, with mass production now slipping to Q1 2026 or later. Bitdeer shares fell over 14% in a single session following the disclosure.
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Solid roundup. The Bitdeer ASIC story is fascinating because it showcases how brutal chip developement timelines are when you miss performance targets. A 6-7 J/TH outcome vs the promised 5 J/TH isn't just a minor slip, it changes the entire economics of mining operations at scale, and explains why they had to do a dual-track redesign.