Will Cole, a veteran Bitcoin builder formerly with Unchained and now with Zaprite, recounted his journey from early libertarian during the 2008 financial crisis to becoming an integral part of Bitcoin’s product evolution. Initially skeptical, Cole became convinced of Bitcoin’s value through its 21 million supply cap and the U.S. government’s decision to auction seized Silk Road coins. “We’re not criminals dealing with Bitcoin,” he reflected. After helping scale Unchained’s multisig custody suite, Cole now focuses on Bitcoin payments infrastructure at Zaprite. His goal: make accepting Bitcoin seamless for merchants regardless of custody model. While regulatory hurdles like capital gains taxes remain, Cole is optimistic about organic growth from high-ticket invoicing to small business adoption. He even sees a future where nation-states print fiat to acquire Bitcoin, calling it “the endgame.” Until then, he urges builders to focus pragmatically on foundational tools like custody and payments.
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A group of high-profile tech billionaires led by PayPal co-founder Peter Thiel is forming a new bank, Erebor, aimed in part at serving digital asset startups. According to Financial Times, Erebor will fill the void left by the collapse of Silicon Valley Bank, once the primary banking partner for many crypto firms. The bank, named after the mountain fortress in The Lord of the Rings, seeks to offer both traditional lending and crypto-related services to underserved sectors. Its application outlines plans to support industries such as artificial intelligence, defense, manufacturing, and international companies needing U.S. banking access. “The bank will be a national bank… providing traditional banking products, as well as virtual currency-related products,” Erebor stated. The initiative signals renewed institutional confidence in digital asset infrastructure, particularly in credit access, and could mark a significant step toward rebuilding crypto’s financial backbone in the U.S.
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A new national survey from the Nakamoto Project reveals that 48 million Americans—18.6% of the adult population—own bitcoin, with 11 million holding their bitcoin in self-custody. Despite a doubling in price and institutional tailwinds, sentiment toward bitcoin declined slightly, especially among women and political liberals. The strongest predictors of ownership remain belief in bitcoin’s utility, trust in its design, perceived morality, and overall knowledge—factors that continue to outweigh political or demographic identity. “Bitcoin ownership is still far more a matter of attitudes than... politics,” the report notes. While owners skew young, male, and increasingly non-white, they remain ideologically centrist. Four in five Americans support converting some portion of U.S. gold reserves to bitcoin, with a median suggested allocation of 10%, though support for a Strategic Crypto Reserve remains tepid. The findings suggest bitcoin adoption in the U.S. is mainstreaming, with cultural and institutional entrenchment outpacing political polarization.
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Bank of England Governor Andrew Bailey has expressed continued skepticism about the need for a retail central bank digital currency (CBDC), despite over five years of government development efforts. Speaking at a National Bank of Ukraine conference, Bailey stated, “I remain to be convinced that we need to create new forms of money... to achieve” the benefits already attainable through existing digital technologies. His stance adds weight to growing dissent within central banks, joining voices from the U.S. Federal Reserve who question the rationale and risks of CBDCs. While Bailey clarified he is “not against” a retail CBDC and acknowledged progress in wholesale digital money, his doubts underscore a core challenge for legislative advocates: justifying retail CBDCs over private-sector alternatives. As over 3.2 billion people live with access to active public CBDCs, Bailey argues the lack of unique use cases above existing currency may stall further adoption without clearer public benefit.
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