SATURDAY, JUL11
1. 70% chose self-custody, 2. Fed taps Andreessen, 3. NH bitcoin bond fails, 4. Tap-to-pay ecash
From Proto and Bitkey - part of the Bitcoin ecosystem at Block, Inc.
1. selfcustody
Binance co-chief executive Richard Teng said that roughly 70 percent of European user withdrawals following the exchange’s MiCA-driven service suspension moved to self-custody rather than to licensed platforms, with only about 30 percent going to regulated venues, according to The Block. The figure, shared by the head of the world’s largest exchange, is a striking real-world data point on how users respond when a compliant platform can no longer serve them: most chose to hold their own keys rather than migrate to another intermediary. For a freedom-tech audience, the number cuts against the assumption that regulation simply herds users from one licensed venue to another. Faced with losing access, a clear majority reportedly opted out of the custodial system entirely. Whether that reflects lasting conviction or a temporary reaction, it suggests MiCA’s tightening may be pushing Europeans toward exactly the self-sovereign behavior the framework’s architects did not intend. It is a reminder that the option to hold bitcoin yourself is the fallback no regulation can fully close off.2. fed
The Federal Reserve has appointed Marc Andreessen, co-founder of the venture firm Andreessen Horowitz, to lead a task force analyzing the economic impact of emerging technologies such as artificial intelligence, according to Cointelegraph. The move places one of Silicon Valley’s most prominent and outspoken investors, and a vocal crypto and AI advocate, inside a Federal Reserve advisory process on how new technology reshapes the economy. For a bitcoin audience, the appointment is notable less for immediate policy than for signal: a venture capitalist known for backing crypto and pushing an aggressive pro-technology agenda now has a formal channel into the central bank’s thinking on AI and innovation. Critics may see potential conflicts given a16z’s extensive crypto and AI portfolio, while supporters may view it as overdue technological literacy at an institution that shapes monetary policy. The task force’s influence remains to be seen, but the choice reflects how thoroughly AI and digital-asset questions have entered the core deliberations of the institutions that govern money.3. newhampshire
A proposal for New Hampshire to issue up to 100 million dollars in bitcoin-backed bonds has failed to advance, despite support from Governor Kelly Ayotte, who had touted it as an innovative way to bring investment opportunities to the state, according to The Block. The measure would have made New Hampshire one of the first US states to use bitcoin in a formal debt-issuance structure, and its failure marks a setback for the wave of state-level bitcoin initiatives that gained momentum over the past year. For a bitcoin audience, the outcome is a reminder that state-level adoption remains uneven and politically contingent, with even governor-backed proposals stalling amid fiscal caution and unresolved questions about volatility and custody. The broader trend of states exploring bitcoin reserves and bond structures continues, but New Hampshire’s stumble shows the path from enthusiasm to enacted policy is far from automatic. How states navigate the mechanics, from custody to accounting to political risk, will determine whether these proposals become real instruments or remain aspirational headlines.4. cashu
Cashu contributor Calle has demonstrated Tap to Pay with bitcoin ecash using Cashu, arguing the best payment experience can be free, open source, and faster than card rails, in a July 7 post on X. The demo shows NFC tap transfers where the sender does not need an active internet connection, because value moves device-to-device like handing over a physical bill, while ecash’s mathematical privacy guarantees protect against merchant and ad-network surveillance. Calle frames Cashu as a modern Chaumian implementation built for bitcoin, with an ecosystem of wallets and mint tooling already flourishing around it. For a freedom-tech audience, the post is a concrete payments fork in the road: closed, KYC-heavy tap-to-pay versus bearer-token ecash that preserves cash-like privacy on open hardware. Ecash trades some trust to a mint for strong privacy and offline usability, a tradeoff many will accept for everyday small payments where cash-like privacy matters most and the amounts held are modest.Consider subscribing and sharing OP_Daily with your community.