Magic Eden is shuttering its Bitcoin and EVM marketplaces to go all-in on Solana — so is this the end of Ordinals? Plus, Block lays off nearly half its workforce citing AI, and the Jane Street price suppression conspiracy heats up.
In this episode of Good For Bitcoin, Brandon and Kate discuss:
- Bitcoin treasury roundup: Strategy buys 592 BTC (now holding 717,722), Block reveals 103 BTC purchase (8,883 total), Professional Capital Management adds 7 BTC (5,007 total), and DDC Enterprise buys 50 BTC (2,118 total)
- Block announces massive layoffs — nearly half of its 10,000 employees — with Jack Dorsey citing AI-driven "intelligence tools" as the catalyst
- Ledn issues the first-ever investment-grade rated Bitcoin-backed ABS, earning a BBB- rating from S&P and attracting 2x oversubscribed demand on the $188M offering
- The Jane Street conspiracy: allegations of systematic Bitcoin price suppression at 10 AM ET, tied to the Terraform Labs lawsuit and ETF arbitrage activity
- Kalshi catches insider trading — a MrBeast editor and a gubernatorial candidate get fined and banned in one of the first real enforcement actions in prediction markets
- Zest Protocol launches V2 with per-asset risk parameters, no rehypothecation options, and partial liquidation mechanisms — hitting $41M TVL within 48 hours
- A solo miner spends $75 on hash power through Braiins and hits a full block reward worth ~$938K
- Magic Eden exits Bitcoin and Ethereum to refocus on Solana — what it means for Ordinals, Runes, and the broader Bitcoin NFT ecosystem
- Quick headlines: Crypto.com approved as national trust bank, Fed moves to codify removal of reputational risk, Coinbase launches 24/5 stock trading, Strategy's STRK coming to Europe via 21Shares, Morgan Stanley plans native Bitcoin custody, and Meta eyes a stablecoin comeback
Chapters:
- (00:00:00) Intro
- (00:02:50) Bitcoin Treasury Roundup
- (00:04:35) Block Lays Off Nearly Half Its Staff
- (00:09:28) Ledn Issues First Investment-Grade Bitcoin ABS
- (00:13:14) Has Jane Street Been Suppressing Bitcoin's Price?
- (00:19:29) Kalshi Catches Insider Trading
- (00:22:53) Zest Protocol V2 Launches
- (00:24:51) Solo Miner Hits a Block with $75
- (00:26:24) Magic Eden Exits Bitcoin — Are Ordinals Dead?
- (00:32:38) Quick Headlines
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