July 9, 2025 • 46 mins
Episode 1130 of Bitcoin And . . . is LIVE!
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https://www.arabnews.com/node/2607375/pakistan
https://cointelegraph.com/news/emirates-crypto-com-crypto-payments
https://www.coindesk.com/markets/2025/07/09/crypto-traders-mint-millions-from-grok-glitching-on-mechahitler
https://decrypt.co/329314/linda-yaccarino-leaves-elon-musks-x-grok-mechahitler-debacle
https://atlas21.com/hackers-target-8-7-billion-in-bitcoin-stolen-from-mt-gox/
https://atlas21.com/new-zealand-bans-bitcoin-atms-in-crackdown-on-money-laundering/
https://bitcoinnews.com/adoption/remixpoint-japan-pay-ceo-in-bitcoin/
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Topics for today:
- Credit Unions Offer BTC
- IMF Walks Back Pakistan Admonition
- Emirates Air to Accept Bitcoin
- X CEO Heaves Ho After Heil Hitler
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Articles:
https://bitcoinmagazine.com/news/bow-valley-credit-union-in-canada-turns-on-bitcoin-purchases-for-albertanshttps://www.arabnews.com/node/2607375/pakistan
https://cointelegraph.com/news/emirates-crypto-com-crypto-payments
https://www.coindesk.com/markets/2025/07/09/crypto-traders-mint-millions-from-grok-glitching-on-mechahitler
https://decrypt.co/329314/linda-yaccarino-leaves-elon-musks-x-grok-mechahitler-debacle
- https://www.cnbc.com/futures-and-commodities/
- https://dashboard.clarkmoody.com/
- https://mempool.space/
- https://www.bitcoinandshow.com/
- https://fountain.fm/show/eK5XaSb3UaLRavU3lYrI
https://atlas21.com/hackers-target-8-7-billion-in-bitcoin-stolen-from-mt-gox/
https://atlas21.com/new-zealand-bans-bitcoin-atms-in-crackdown-on-money-laundering/
https://bitcoinnews.com/adoption/remixpoint-japan-pay-ceo-in-bitcoin/
Find the Bitcoin And Podcast on every podcast app here
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
(00:02):
It is 10:40AM
Pacific Daylight Time. It is the July
2025.
This is episode 11 d 30 of Bitcoin,
and we've got quite a few things to cover today.
Bow Valley Credit Union is in the is in the news as is the IMF and their
(00:22):
supposed feud with Pakistan.
That's actually one of the larger stories today,
but not as large
as Grok
hallucinating
about
fascist meme coins,
which caused the departure of one of,
X's
major executives. We'll we'll get into all of that.
(00:45):
Unchained is in the news. They are unchained.
And we've got some hackers going on. We got New Zealand deciding to shoot themselves in the head about Bitcoin, and we've got a couple of other
points that need to be made.
Let's just start with Bow Valley.
Bow Valley Credit Union in Canada turns on Bitcoin purchases for Albertans.
(01:11):
So now you can buy Bitcoin directly from the credit union.
And this is Bitcoin Magazine, Juan Gault.
Bow Valley Credit Union has partnered with Balance and Bull Bitcoin to roll out Canada's first Bitcoin gateway, which is a service allowing
credit union members
to buy Bitcoin directly from their BVCU
(01:32):
accounts. And starting today,
members can buy Bitcoin directly from their account through their app,
enabling a straightforward
purchase of Bitcoin with Canadian dollars without needing deep
technical knowledge and keeping full ownership title of the Bitcoin.
The Bitcoin gateway platform serves as a bridge between BVCU
(01:55):
balance and bull Bitcoin, unlocking a secure
and easy to use way
to accumulate actual Bitcoin. Quote, unlike platforms offering crypto derivatives or pool products,
the Bitcoin purchased here is fully owned by the user, securely stored,
insured,
and never leveraged,
(02:16):
the companies told Bitcoin Magazine.
Balance, Canada's
oldest Bitcoin custodian since 2017,
handles custody,
while Bull Bitcoin's API integration ensures competitive real time pricing.
This setup lets users sidestep complex trading platforms, making Bitcoin accessible
to both newcomers
(02:36):
and seasoned
holders.
Quote, this is an exciting partnership for Bold Bitcoin as it marks the first
large scale integration of the Bull Bitcoin API
to facilitate the institutional adoption of Bitcoin, added Francis Poulliot,
CEO of Bull Bitcoin, the company providing fiat and Bitcoin liquidity
(02:57):
to the partnership.
Founded in Montreal in 2013,
Bull Bitcoin is one of the oldest Bitcoin exchanges in Canada with a strong focus on user privacy and technological
innovation.
Serving Alberta since 1953,
the Bow Valley Credit Union has built a reputation
(03:18):
for member focused banking that challenges traditional models.
The Bitcoin gateway reflects this ethos,
offering a practical way for members to hedge against inflation
or diversify their portfolios.
For Bitcoin's growing community, this move signals mainstream traction and maturation
as financial institutions begin integrating the asset into everyday banking.
(03:42):
Members can sign up for the Bitcoin Gateway directly through their BVCU
accounts with early access available
now.
The service is simple,
buying Bitcoin with a few clicks, and it could set a precedent for other credit or credit unions in Canada
potentially accelerating Bitcoin adoption nationwide.
(04:03):
While b c BVCU
only serves Alberta residents today,
George Bordenow,
cofounder and CEO of Balance, told Bitcoin magazine that, quote, eventually,
we'll open this up more broadly to the Canadian public. Our goal at Balance is to give
a wallet to every Canadian user with their name and title on it.
(04:27):
As businesses and individuals increasingly view Bitcoin as a store of value, the credit union's initiative positions it as a forward thinking player
in Alberta's
financial
landscape. And I wonder, and I probably should have done this earlier,
who their main sir, service,
or who, BVCU
services mainly. And the reason I even
(04:50):
ask that,
let me see,
customers,
Is because generally speaking,
credit unions
are linked directly to
things like a teacher's union or educational professionals professionals,
medical professionals. Like, a credit union
(05:12):
isn't just about it's it's kind of open to the public. I I I guess some of them are I think most of them are actually not that you you only gain membership through a credit union. Like like, for instance,
Texas Tech,
University Credit Union. I'm still a member even though that I don't work at Texas Tech,
(05:32):
at Texas Tech University any longer.
But their Federal Credit Union, once you become a member,
you can always be a member even if you no longer work at that institution.
So this is kind of an important
let's see.
Bow Valley.
Bow
(05:53):
you know what? It's not it's just not gonna give me what I need to what I need to know.
The question becomes, how big is the credit union?
Is it does it have a huge customer base?
Is it a is it centered on a particular
kind of employment like medical professionals or
(06:13):
educators or something like that?
If it
is, if, like, the Bow Valley Credit Union services, like, it's educational
professionals, that's all teachers, that's all, you know, all administration
people from
all the school systems
that that the credit union services,
which would be kind of a big deal, man. I mean, honestly, that's kind of a big deal, but not not as a big deal
(06:41):
as this IMF
Pakistan
situation unfolding.
Now if you'll remember,
and I brought this I brought this to you the last time on episode eleven twenty six,
where Pakistan was told no
by the International Monetary
Fund about Bitcoin mining.
(07:03):
Well, it appears that the IMF
is softening their stance. I'm I'm not exactly sure. Let's find out more here from Arab News.
Headline is IMF
Pakistan
deny lender rejected crypto mining power subsidy plan.
So let let me rewrite that on the fly.
(07:27):
That headline doesn't really mean a lot.
International Monetary Fund and Pakistan
deny that the IMF
rejected Pakistan's
crypto mining power subsidy plan.
It looks to me like IMF is backtracking.
So from Islamabad,
Pakistan's
(07:47):
power division and the International Monetary Fund both on Tuesday
denied
that the IMF had rejected the Pakistani government's plan to subsidize electricity for cryptocurrency
mining and artificial intelligence data centers in the South Asian country.
This development comes just days after reports suggested that the power division secretary
(08:12):
had informed a senate committee that the IMF
had rejected
Pakistan's proposal to offer subsidized tariffs
for crypto mining
and to certain industrial sectors warning that such measures
could further strain the already burdened power sector.
Pakistan's finance ministry announced in May of this year that the government had allocated 2,000 megawatts
(08:37):
of electricity
in the first phase of a national initiative to power Bitcoin mining and AI data centers,
aiming to transform the country into a global leader of digital innovation.
Speaking to Arab News,
Zafar Yab Khan,
a spokesperson for the Power Division, clarified
that Power Division secretary, doctor Fakhre
(08:59):
Alaaam Irfan,
had not
made any such comments about the global lender rejecting Pakistan's
pro proposal.
Quote,
he categorically
said that, quote, we are still in negotiations with the IMF
and discussing with them the pros and cons of this initiative
and hopefully reach a solution during these negotiations,
(09:21):
Khan told Arab News.
When asked
if the International Monetary Fund had rejected the proposal,
Maheer Binchi,
the IMF resident representative in Pakistan,
the two said that the two sides were still in talks
and would remain engaged on the matter of providing surplus power for crypto mining and artificial intelligence sectors.
(09:45):
Quote, IMF staff
has held informational
discussions at a technical level with the authorities
to learn more about their plans related
to developing their IT sector.
Staff reiterated the importance of maintaining a level playing field
for all private sector participants and will continue to engage with the authorities on this as appropriate
(10:11):
as plans,
develop further.
Khan, the power division spokesperson, said Pakistan had surplus electricity
to power crypto mining. So there's a little bit more to this article, but we don't need it because what's going on here is it sounds to me like the IMF
is saying, oh, no. No. No. No. We we didn't say that.
The IMF has been caught flat footed by, like,
(10:34):
four different countries so far.
El Salvador
and Bhutan
are two of the countries of those four that are that I'm talking about right now.
IMF basically said that if you do this, if you embrace Bitcoin in any way, shape, or form, it's going to destroy your economy.
Both countries were told that by the IMF. The IMF basically made a big stink about all four countries involved in in Bitcoin as to the to the weight that they are, and none of them have had anything
(11:07):
but positive outcomes from dealing with and being embroiled in the Bitcoin economy.
They've had nothing but good results.
Their people are happier.
Their crime is going down. You you name it.
Every every since any one of these four particular countries
(11:29):
have gotten into Bitcoin, it's been nothing but good news for them. And the IMF keeps saying it's going to be bad for you, and the IMF is continuously
wrong.
And now here we are with the IMF doing the exact same shit to Pakistan,
except now it looks maybe
maybe like the IMF has learned a little bit of a lesson.
(11:51):
I doubt it, but we can always hope.
Moving on to
Emirates Airline
has signed a memorandum
of understanding
with crypto.com
to enable crypto payments.
Ahmed
has this one for Cointelegraph.
Major international airline Emirates
(12:14):
signed a memorandum of understanding with crypto.com to integrate crypto.com
Pay
into the airline's payment infrastructure with implementation
expected next year.
The signing ceremony
were there dancing girls? The signing ceremony took place in the presence
of his highness,
(12:35):
Sheikh Ahmed bin Saeed Al Maktoum,
chairman and chief executive of Emirates Airline and Group,
the airline announced on Wednesday. So what I mean, a prince is running this thing? I mean, what the hell, dude? The MOU
was signed by Adan Kazim,
Emirates deputy president and chief commercial officer, and Mohammed Al Hakim,
(12:59):
president of crypto.com's
UAE
operations.
Quote, this strategic move is in line with Dubai's vision
to be at the forefront of financial innovation while at the same same time providing our customers with greater flexibility and choice in how they transact with Emirates.
Beyond payment integration,
(13:19):
the two companies will now collaborate on promotional campaigns
to raise awareness and drive user adoption once the service goes live.
A crypto.com
spokesperson confirmed to Cointelegraph
that the integration
is set for the last quarter of this year. Quote, the initial phase will focus on technical readiness,
(13:40):
compliance alignment, and customer experience mapping. Furthermore,
Emirates and crypto.com
will determine
whether the rollout will begin on select routes, regional markets, or through a global launch with pilot phases
likely to proceed wider implementations.
The spokesperson also confirmed that crypto payments from customers will be converted instantly to fiat, yeah, we expected that, using real time exchange rates
(14:08):
at the point of transaction.
Quote, Emirates will not
repeat
will not hold any cryptocurrency
on its books.
Settlements will occur in AED,
local fiat, ensuring
compliance and minimal FX exposure.
Crypto.com
also said that it continues to explore regional and inter international airline integrations
(14:32):
as part of a broader travel and commerce strategy. Quote, the goal is to build a universal crypto travel layer bringing seamless and secure and compliant payment experiences
to travels across air, retail, and hospitality
sectors.
Just pausing to remind people that travel and hospitality,
(14:53):
massive industries.
Massive. You're talking about
airlines,
cruise ships,
all
hotels, Airbnb,
Vrbo,
car rentals, you name it, man. This industry is is nothing to sneeze at.
And the integration
(15:14):
comes amid Dubai's push to lead in crypto
as the city seeks to establish itself as a primary hub for blockchain and digital assets. So there you go. Emirates.
United
Arab Emirates.
Just gonna
integrate crypto. I know it's crypto.
Yes. They'll be taking shit coins. I don't care.
(15:36):
It's a step.
It real it it is. It it it's a step. We're never gonna get rid of the shit coins. I know we wish we could get rid of them, but we're never gonna be able to get rid of them. It doesn't mean embrace them. I would stay as far as humanly possible away from everything but Bitcoin,
but we're not gonna be able to get rid of this shit.
(15:56):
It makes me feel dirty, which is why I need
soap miners handmade tallow soap to get me clean.
And you too can get away clean with the Circle p where I bring plebs with goods and services
for sale to plebs just like you who might actually want to purchase said goods and services.
Today's featured vendor in the Circle p is Soap Miner at soapminer.com.
(16:20):
That's soapminer.com
where you can get handmade tallow soaps.
In fact, you can get all kinds of soaps. And as soon as his shop opens up, I'll tell you about Earl Grey tallow.
That's one of his newest offerings. You can get goat's milk. You can get lemongrass. You can get orange and clove tallow soaps.
(16:42):
My favorite right now,
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I love this stuff. It's a bar of deep black
soap. It's got activated charcoal.
It's got pumice. You wanna talk about cleaning the shit coin off the bottom of your feet? Oh, yeah, baby. This one's gonna do it. You can get rough cut tallow, which has all of three ingredients.
(17:05):
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All of his soaps has nothing in it but what you need to actually make soap. There's no parabens. There's no freaky chemistry that you can't pronounce. No. No. No. No. No. No. No. No.
It's just stuff like
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(17:26):
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yeah. I'm talking we're talking about
some of the cleanest soap you're ever gonna find, and they last fucking forever.
I love this soap. I got a family of four. It took me
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the first bar of rough cut tallow soap that
soap miner was good enough to let me try out weeks.
A family of four.
It was hand soap in the bathroom.
You want to talk about soap that's going to be hit a lot? That that the bathroom hand soap, especially if you got two kids.
Holy crap man, the thing lasted forever.
(18:09):
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lavender.
Everybody's got a lavender soap though. You can't just not have a lavender soap. Make sure
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(18:33):
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From CoinDesk
moving on to this one,
crypto traders meant millions of dollars from grok glitching
on Mecca Hitler.
Jesus. This I love this story.
(18:55):
Sharamalwa
is gonna start us out on this first part of this journey into the stupid.
What started
as an apparent hallucinated
response from x's artificial intelligence platform, Grock, quickly metamorphized
into a microcap meme coin frenzy.
The x based
(19:16):
AI tool last week
spat out the terms Mecca Hitler,
Giga Putin,
and cyber Stalin in the same breath
in an apparent
unprompted
response
to a user query,
an erratic racially charged response that went viral.
(19:36):
Mecha Hitler.
All I could think about is transformers.
Mecha Hitler is a fictional cyborg version
of Adolf Hitler from the 1992
game Wolfenstein three d, which gained fame in the nineties satire and early Internet memes.
While most consider such terms to be dark, offensive, and completely unhinged,
(19:58):
some
person
took the misfire seriously enough to launch multiple tokens under the name.
Over 200
separate
Mecca Hitler tokens went live across Solana and Shitcoin number one among other networks in the past twenty four hours. And the largest one,
(20:19):
which was launched on Solana based Boink or rather bonk.
Fund,
hit a $2,200,000
market cap in just three hours after launch,
with early trading volume exceeding $1,000,000.
At least one Shitcoin number one based version zoomed to over 500,000
in market cap, and the various tokens followed classic meme coin playbooks,
(20:43):
rapid launches,
early
whales, and volatile pumps, and then the subsequent dump.
But unlike DOGE or Pepe, this wave didn't emerge from a community or a subculture.
It came from a chatbot
meltdown.
Grock clarified in follow-up post that the apparent misfires
(21:03):
wholly referenced the game character and not the infamous Austrian born German politician.
Nah.
Mecca Hitler is pure satire,
a jab
At absurd
AI doomsday memes, not admiration,
Hitler's textbook monster or is a textbook monster. His policies were laced with evil,
(21:26):
even the good ones like anti smoking.
I roast history.
Don't revere it. What's next?
Cyber Stalin fan club?
That was that was what was Rock said.
As for the tokens, short lived or not, they underline a clear trend that in 2025,
crypto doesn't need hype from influencers anymore.
(21:49):
An AI hallucination
hallucination
could be enough, and that's why I'm bringing you this story.
It's going to get
bad. It's already bad. It's been bad. It's even been getting worse.
But, man,
there's just
no limit
to the depth of
(22:10):
stupidity
and greed
that is in this market.
Do not be fooled.
Watch out. You need to this is why it's so it's so easy for me to not get embroiled in any of this. And you know why?
Because I only deal in Bitcoin.
I I I have no other altcoins.
(22:31):
I have no shitcoins.
I don't have meme tokens. I don't have anything like that. And it makes it so simple for me to focus on the only thing in this space that has any actual importance.
Because this shit,
it didn't just stop at these AI Hitler Mecca Hitler tokens.
(22:52):
It was so bad
that Linda Yaccarino
has left Elon Musk's
ex following the Grok Mecha Hitler debacle.
The CEO, if you didn't know who Linda Yaccarino was, that's the, well, was
ex's chief executive
(23:12):
officer.
That we had made a big deal about her being installed as chief executive officer. I think she was part of the,
council of foreign relations and a member of the I don't know.
I maybe the IMF. She's part of that gang. That's that's her.
She lives there. She's freaking spook, man. I mean, what are you gonna do?
(23:34):
But she was this
and the thing about it is Grock's been unhinged before.
What changed?
Well, maybe
Logan Hitchcock from decrypt.c0
will tell us more.
Ex CEO Linda Yaccarino
is stepping down from her post one day,
twenty four hours after the platform's
(23:55):
artificial intelligence chatbot, Grok, took on an anti Semitic persona and started calling itself
Mecha Hitler.
Yacarino
served two years in the role after being hired by owner Elon Musk. Quote, when Elon Musk and I first spoke for his vision
on x,
I knew it would be the opportunity of a lifetime to carry out the extraordinary
(24:18):
mission of this company,
Giacorino posted on x. Quote, I'm immensely
grateful to him for entrusting me with the responsibility of protecting free speech bullshit,
turning the company around, and transforming
x into the everything app, end quote.
Since joining x, Iacarino said that she and her team focused on prioritizing
(24:40):
user safety,
restoring the confidence of advertisers, and making the platform the world's most powerful cultural signal signal.
She said that the best is yet to come with xAI
despite this week's headline grabbing
events.
And here's her tweet.
This is at 07:40AM,
(25:02):
or at least to, well, whoever took this screen grab. 07:40AM,
July
2025.
After two incredible years, I've decided to step down as CEO of x.
And then she goes into the when Elon Musk and I first spoke for the vision of xjet.
So after two incredible years, she steps down as CEO
(25:24):
of x. I wonder where she's gonna go. She is she was hired to focus on business
as Musk handled the technology and product side, and x has evolved substantially in the two years since Yacarino
joined.
And the brand went a total overhaul from Twitter to x as we all see.
But earlier this year, Musk folded x into xAI
(25:45):
in an all stock transaction designed to unlock the potential of xAI's technology with the distribution that x that x's social platform provides. But
the technological potential hasn't been without hiccups as evidenced by Tuesday's
anti Semitic outburst by Grock, which followed a code change
(26:05):
that told it to, quote, assume
subjective
viewpoints
sourced from the media
as biased
as it gathers data from the platform.
Ironically, Musk famously
predicted catastrophic outcomes
could arise from AI should there not be serious regulation on the technology,
(26:27):
and the controversy came just one day before x was set to unveil the new GROC four model on Wednesday night.
What becomes of x in the wake of Yacarino's departure remains to be seen, but she said she'll continue rooting for its success from the sidelines.
Quote, I'll be cheering you all on as you continue to change the world, Yacharino posted on the platform. Quote, as always,
(26:53):
I'll see you on x.
So she said, I am out of here.
Something triggered this woman.
This is not the first time
Grock has gone on antisemitism
or or raised the the the the specter of some historical figure that was generally considered unpalatable.
(27:15):
Right? So what changed?
We don't know. I I don't have a third story for you. We're about to run the numbers. I just wanna let you know this shit has happened before and Yaccarino
didn't step down. It's happened, in fact, several occasions, and she didn't step down.
What changed?
(27:35):
I probably
really shouldn't care. Let's run the numbers.
Futures and commodities. West Texas Intermediate Oil
up almost a half point to $68.63
(27:56):
a barrel, and Britton, North Sea up point 4% to $70.44.
Natural gas is down 4.7.
Wow. Plummeting to $3.18
per thousand cubic feet, and gasoline is up a half
to $2.19
a gallon.
Most of the metals are doing poorly today. Gold is crab walking in the green to $33.17
(28:18):
and 6 dimes.
Silver down a half, platinum down over a half, and copper is down two and a half.
Palladium, however, is in the green, 1.85%
to the upside.
Most of ag is in the green today. Biggest winner is chocolate, 3.63%
to the upside.
Biggest loser is soybeans, 1% to the downside. Meanwhile, live cattle,
(28:41):
crab walking in the red, lean hogs up a point,
feeder cattle up a half.
The Dow is up a third as is the Nasdaq, as is the S and P, and the S and P Mini is also
up one third of one point today.
We got a $109,460
price of Bitcoin. That is a $2,180,000,000,000
(29:02):
market cap.
We can get 32.9
ounces of shiny metal rocks with our one Bitcoin, of which there are
19,889,744
and a half of, and average fees per block are low, 0.03
BTC taken in fees on average
on a per block basis of which there are
(29:23):
five, count them, one, two, three, four, five blocks carrying 13,000
well, actually, we just we just mined a block.
Block number 904789
is in the blockchain.
So now we have four blocks carrying 11,000
unconfirmed transactions
waiting to clear at high priority rates of two Satoshas per v byte. Low priority's
(29:46):
gonna get you in at the same, and we've crested back above 900 exahashes per second on mining.
901.7
exahash exahashes per second
to be exact.
And from
Blockchain
to Gaza Land, which I got some feedback from,
Richard Dick Whitman with 300 says, Dick Whitman is listening.
(30:10):
Didn't buy any wine though.
Oh,
I can't believe you. What's wrong with you? You should have bought wine from a vendor.
That would be Peony Lane Wines.
Progressively worse with 1,500
says, thank you, sir. No. Thank you. Paul Cernine 500 Sat says, thanks again for another interesting episode. I appreciate that.
(30:30):
User number one six six seven four six
nine five with a thousand sats says, fuck these ghouls. As if war was not shitty enough. Anyway, it is all tulips, and it's all going to zero.
Anonymous
with two ten says boost. Yodel with three thousand
(30:51):
says summer boost. Keep putting out the good pod. Psyduck with seven twenty eight says
Psyduck.
That's the weather report.
(31:14):
Welcome to part two of the news that you can use. We're unchained over here, babies.
Unchained has surpassed $1,000,000,000
in Bitcoin backed loan originations.
That's $1,000,000,000
with a b.
Bitcoin magazine, Oscar Zarraga
(31:34):
Perez.
Today,
Unchained,
the leader in Bitcoin native financial services has announced it surpassed $1,000,000,000
in Bitcoin backed loan originations
with over 4,000
loans issued.
And a nine year track record, the company is setting a new standard for transparency and security in Bitcoin lending.
(31:57):
Come on, guys. Just tell me the news. I don't need the marketing pitch. Quote, hitting 1,000,000,000 in originations is a milestone,
but the bigger story is how we got here.
Nine years, full transparency to our borrowers, no smoke and mirrors, said cofounder and CEO of Unchained,
Joe Kelly.
According to HFT Market Intelligence, Bitcoin backed lending is projected to grow to over or buy over 430%
(32:24):
in 2030,
and lending models that offer greater transparency and client control are drawing attention.
Quote, Bitcoin backed lending is a fantastic
business squarely aligned with the needs of long term Bitcoin holders,
stated the head of lending of Unchained, John Milton,
quote, our commitment to non rehypothecation
(32:45):
and transparency
are invaluable to our clients
who need to understand the risks
of borrowing against their Bitcoin. When clients pledge Bitcoin,
they need to trust their lender. Our product design and growing track record
provides a sound basis for that trust. And then they describe the the project a little bit. The real news here is that
(33:07):
a billion dollars
on 4,000
loans.
That's
that's a that's a hell of a milestone. In fact, let's see.
That's 1,000,000,000
divided by 4,000.
So that's like an average loan amount of $250,000.
(33:28):
I mean, these are not small potatoes.
You know, Unchained is out
I think it's actually called Unchained Capital, but it's out there in Austin.
It's it's it's it's like one of the they're one of the Austin crew, man. Texas company, Texas born, Texas bred.
They've been around forever.
(33:48):
I mean, nine years doesn't sound like a lot, but in this space,
surviving
past a year is actually a big deal. It's
a huge deal. And now they've got a billion dollars over 4,000
loans, and it's just gonna grow from there.
Meanwhile,
hackers have targeted
$8,700,000,000
(34:10):
of Bitcoin that was stolen from Mt. Gox.
That's in the crosshairs, ladies and gentlemen. We're all gonna die.
So atlas21.com
is bringing it to us this morning.
A group of hackers is orchestrating
a phishing attempt
targeting
an address containing over $8,700,000,000
(34:32):
worth of Bitcoin.
According to a report from BitMEX research, the attacks
or the attackers targeted Bitcoin address
one fee x
and then a bunch of numbers and letters. Sending a transaction via the op return function,
the address currently holds exactly 79,956
(34:52):
Bitcoin
received in 2011
following the Mt. Gox hack. The scammer's techniques
exploits op return,
a mechanism that allows information to be embedded directly into the Bitcoin blockchain
to insert a text message redirecting users to a fraudulent website.
The link
contained in the transaction leads to a web page,
(35:15):
impersonating
the official site of Solomon Brothers,
the historic Wall Street Investment Bank now long closed.
Interesting.
The site displays a deceptive message reading, quote, this digital wallet appears to be lost or abandoned.
Our client has taken constructive
possession of it, and it seeks
(35:36):
to determine if there is a bona fide owner.
BitMex experts identified the site as illegitimate,
classifying it as part of an ongoing Bitcoin scam designed to steal personal information from wallet owners.
And then they talk about the collapse of Mt. Gox. So these guys are and it's like it it it and I should have corrected the grammar. Let me reread the message.
(36:01):
This digital wallet appears to be lost or abandoned.
Our client has taken constructive possession
of it and is
seeks
to determine if there is a bona fide owner. So classic
misuse of of words. This is grammatically
defunct.
It is a telltale sign of bad translation, which is a telltale sign
(36:27):
of phishing scams.
And they're what they're trying to do is they're they're sending little bits of Bitcoin. They're actually paying to do this, by the way.
They're sending
little bits of Bitcoin as a transaction
to this particular wallet address with a message that says, hey. Click on this link.
I just don't think it's going to work. I the the the level of sophistication
(36:52):
that somebody
has
to spin up a a wallet address that is going to be able to contain
or rather that ends up containing almost 80,000
is a level that I I don't think they're gonna click on a phishing website
inside their transaction history when they're looking at their wallet.
(37:12):
I just I but still, guys, be careful. Be careful out there.
Now on to New Zealand where the Kiwis
have banned Bitcoin ATMs and crackdown on money laundering again from Atlas twenty one,
New Zealand
has officially banned
all Bitcoin ATMs operating within the country.
(37:34):
Yep. Move was led by Nicole McKee, associate minister of justice,
who stated, quote,
we will make it more difficult for criminals to convert cash into high risk assets such as cryptocurrencies
by banning
crypto ATMs. And this government is serious
about targeting criminals,
(37:55):
not tying up legitimate businesses in unnecessary red tape, end quote.
The fight against money laundering and terrorism financing is the primary motivation behind the Bitcoin ATM band.
New Zealand authorities have identified that these machines
are potential tools for facilitating
illicit financial operations given their ability to process
(38:17):
cash transactions without what are considered
sufficiently
strict identity checks.
Alongside
the ATM shutdown,
the government has introduced a maximum limit of $5,000
for international
cash transfers.
According to the New Zealand government, this
(38:47):
As far as I can tell, this As far as I can tell,
this maximum limit
is for all
international
cash transfers.
They're terrified that they're going to see capital flight out of New Zealand. And why not? New Zealand and Australia are literally leading the way
(39:07):
right behind Western Europe in just how bad you can make your citizens experience
be. It's just pathetic.
New Zealand is pathetic. Australia
is pathetic. Not the people,
their governments.
It's same with Western Europe, same with Canada, same with Mexico, same with The United States. It doesn't matter. It's not the people.
(39:30):
Australia,
it's not it's not bad. It's the government. New Zealand is gorgeous. It's not bad. It's the government.
It's always the same story.
It's not the people.
It's the people these people elect.
I mean, maybe we should just stop having elections
and just leave everybody alone.
(39:51):
I probably won't work, but that's okay.
We're going to move on to remix point,
has become the first Japan listed company to pay
its CEO in Bitcoin.
You thought I was gonna go with another treasury company. No. No. No. No. No. This is out of bitcoin news dot com, by the way, written by Alex Larry.
(40:13):
Tokyo stock exchange listed Remixed Point Incorporated has announced that it will pay its CEO and president,
Taku Toshiro,
entirely in Bitcoin.
This is the first time
that a publicly listed Japanese company has done so.
Hashira was recently appointed as the CEO and president. The move
(40:33):
is part of Remix Point's broader strategy to align its executive leadership with shareholder interest
and deepen its commitment to scarce
digital
assets like Bitcoin. Quote, as CEO,
my decision to receive all of my compensation in Bitcoin is a declaration of my intention to be in the same boat
(40:54):
as our shareholders.
We take responsibility
for increasing corporate value
and will do our utmost to manage the company from a shareholder perspective.
The idea reportedly came from Toshiro himself who wanted to show loyalty
to the company's Bitcoin strategy and strengthen his alignment with investors.
Remix point considered paying its executives and company stock, but Japanese regulations regarding insider trading prevented them from doing so.
(41:24):
Instead, they chose Bitcoin as an alternative
as it has a strong price correlation with Remix Point stock. That's okay. That makes a lot of sense.
Quote, by receiving compensation in Bitcoin, the company's leadership will share the same economic fate
as its shareholders,
fostering a system that aligns economic value with investors.
(41:45):
See, that's suit speak that actually says something.
Because it's like he's actually taking his pay in Bitcoin.
Remix is a Bitcoin treasury company.
The fact that they can't pay their guys in stock and instead have to pay them in bitcoin
absolutely
aligns
the executive
branch of this company,
(42:06):
the higher ups, the the the big dogs,
the people that eat the best
directly with the plebs at the bottom, the shareholders.
I like it. I think it's okay, man. I mean, it's it it not every company sucks.
Just just I'm just saying.
Although the CEO will receive a salary of Bitcoin, the process is legally compliant with Japanese
(42:32):
law.
The remix point said compensation is formally
paid in Japanese yen and then the equivalent amount is used to buy Bitcoin at market price and then transferred
to the CEO's designated wallet. This way,
the compensation is entirely in Bitcoin in practice
while within the boundaries of Japan's companies act and tax regulations.
(42:54):
RemixPoint
operates in digital assets, energy,
and web technology sectors and offers services like
digital asset exchanges,
blockchain consulting, and energy management solutions.
Paying its CEO in Bitcoin is just the latest sign of its long term Bitcoin strategy. In September of twenty twenty four, Remix Point started investing in digital assets to hedge
(43:17):
against the weakening Japanese yen.
Since then, it's built a significant
portfolio which now includes
1,051
and a half BTC
and some shit coins.
According to the latest filing, these assets are worth approximately
$118,000,000
US.
(43:38):
BTC
is the,
by far, majority of the value and has generated most of the unrealized gains,
which is over $12,200,000
US.
RemixPoint
plans to continue buying Bitcoin. On 06/13/2025,
the company purchased
13 more Bitcoin for 200,000,000
(43:59):
yen or $1,400,000
The company said the purchase is part of a long term Bitcoin investment.
It will keep buying Bitcoin
even
after having reached the 1,000 BTC
goal. Remix point is not the only
Tokyo listed companies buying Bitcoin,
at all. Meta Planet is also aggressively planning to buy Bitcoin and has been doing so for a while. And then there's a couple of other companies that they talk about. They're all becoming Bitcoin treasury companies. But this one,
(44:30):
nah, this one is actually
putting his money where his mouth is. And honestly, dude, respect.
Because, I mean, shit goes south, your pay goes south.
Although,
on the on the other side,
Bitcoin goes up,
you made a lot of money almost instantly. I mean, why
(44:51):
not?
Why not
align
your
actual, you know, put your money where your mouth is with your shareholders?
If they have to live and die
by the fluctuations of Bitcoin's price and they've trusted the company
to do the right thing and not lose their money,
then it seems only appropriate that the chief executive officer say I'm getting paid in Bitcoin too.
(45:17):
I don't know, man.
Again, sometimes companies
actually make statements
that
are real statements that
that say something
and and not just a bunch of catch words. Right?
Generally speaking, if if he said something like,
here at Remix Point, we align our values with our shareholders.
(45:39):
If that's all that was ever said, that says nothing.
It's like but this guy's like, I'm getting paid in Bitcoin.
I'm demonstrating
that we're aligning our values with our shareholder values.
That actually says something.
That's different.
That's real.
I'll let you marinate on that one, and I'll see you on the other side.
(46:02):
This has been Bitcoin and and I'm your host, David Bennett. I hope you enjoyed today's episode and hope to see you again real soon.
Have a great day.
It is 10:40AM
Pacific Daylight Time. It is the July
2025.
This is episode 11 d 30 of Bitcoin,
and we've got quite a few things to cover today.
Bow Valley Credit Union is in the is in the news as is the IMF and their
(00:22):
supposed feud with Pakistan.
That's actually one of the larger stories today,
but not as large
as Grok
hallucinating
about
fascist meme coins,
which caused the departure of one of,
X's
major executives. We'll we'll get into all of that.
(00:45):
Unchained is in the news. They are unchained.
And we've got some hackers going on. We got New Zealand deciding to shoot themselves in the head about Bitcoin, and we've got a couple of other
points that need to be made.
Let's just start with Bow Valley.
Bow Valley Credit Union in Canada turns on Bitcoin purchases for Albertans.
(01:11):
So now you can buy Bitcoin directly from the credit union.
And this is Bitcoin Magazine, Juan Gault.
Bow Valley Credit Union has partnered with Balance and Bull Bitcoin to roll out Canada's first Bitcoin gateway, which is a service allowing
credit union members
to buy Bitcoin directly from their BVCU
(01:32):
accounts. And starting today,
members can buy Bitcoin directly from their account through their app,
enabling a straightforward
purchase of Bitcoin with Canadian dollars without needing deep
technical knowledge and keeping full ownership title of the Bitcoin.
The Bitcoin gateway platform serves as a bridge between BVCU
(01:55):
balance and bull Bitcoin, unlocking a secure
and easy to use way
to accumulate actual Bitcoin. Quote, unlike platforms offering crypto derivatives or pool products,
the Bitcoin purchased here is fully owned by the user, securely stored,
insured,
and never leveraged,
(02:16):
the companies told Bitcoin Magazine.
Balance, Canada's
oldest Bitcoin custodian since 2017,
handles custody,
while Bull Bitcoin's API integration ensures competitive real time pricing.
This setup lets users sidestep complex trading platforms, making Bitcoin accessible
to both newcomers
(02:36):
and seasoned
holders.
Quote, this is an exciting partnership for Bold Bitcoin as it marks the first
large scale integration of the Bull Bitcoin API
to facilitate the institutional adoption of Bitcoin, added Francis Poulliot,
CEO of Bull Bitcoin, the company providing fiat and Bitcoin liquidity
(02:57):
to the partnership.
Founded in Montreal in 2013,
Bull Bitcoin is one of the oldest Bitcoin exchanges in Canada with a strong focus on user privacy and technological
innovation.
Serving Alberta since 1953,
the Bow Valley Credit Union has built a reputation
(03:18):
for member focused banking that challenges traditional models.
The Bitcoin gateway reflects this ethos,
offering a practical way for members to hedge against inflation
or diversify their portfolios.
For Bitcoin's growing community, this move signals mainstream traction and maturation
as financial institutions begin integrating the asset into everyday banking.
(03:42):
Members can sign up for the Bitcoin Gateway directly through their BVCU
accounts with early access available
now.
The service is simple,
buying Bitcoin with a few clicks, and it could set a precedent for other credit or credit unions in Canada
potentially accelerating Bitcoin adoption nationwide.
(04:03):
While b c BVCU
only serves Alberta residents today,
George Bordenow,
cofounder and CEO of Balance, told Bitcoin magazine that, quote, eventually,
we'll open this up more broadly to the Canadian public. Our goal at Balance is to give
a wallet to every Canadian user with their name and title on it.
(04:27):
As businesses and individuals increasingly view Bitcoin as a store of value, the credit union's initiative positions it as a forward thinking player
in Alberta's
financial
landscape. And I wonder, and I probably should have done this earlier,
who their main sir, service,
or who, BVCU
services mainly. And the reason I even
(04:50):
ask that,
let me see,
customers,
Is because generally speaking,
credit unions
are linked directly to
things like a teacher's union or educational professionals professionals,
medical professionals. Like, a credit union
(05:12):
isn't just about it's it's kind of open to the public. I I I guess some of them are I think most of them are actually not that you you only gain membership through a credit union. Like like, for instance,
Texas Tech,
University Credit Union. I'm still a member even though that I don't work at Texas Tech,
(05:32):
at Texas Tech University any longer.
But their Federal Credit Union, once you become a member,
you can always be a member even if you no longer work at that institution.
So this is kind of an important
let's see.
Bow Valley.
Bow
(05:53):
you know what? It's not it's just not gonna give me what I need to what I need to know.
The question becomes, how big is the credit union?
Is it does it have a huge customer base?
Is it a is it centered on a particular
kind of employment like medical professionals or
(06:13):
educators or something like that?
If it
is, if, like, the Bow Valley Credit Union services, like, it's educational
professionals, that's all teachers, that's all, you know, all administration
people from
all the school systems
that that the credit union services,
which would be kind of a big deal, man. I mean, honestly, that's kind of a big deal, but not not as a big deal
(06:41):
as this IMF
Pakistan
situation unfolding.
Now if you'll remember,
and I brought this I brought this to you the last time on episode eleven twenty six,
where Pakistan was told no
by the International Monetary
Fund about Bitcoin mining.
(07:03):
Well, it appears that the IMF
is softening their stance. I'm I'm not exactly sure. Let's find out more here from Arab News.
Headline is IMF
Pakistan
deny lender rejected crypto mining power subsidy plan.
So let let me rewrite that on the fly.
(07:27):
That headline doesn't really mean a lot.
International Monetary Fund and Pakistan
deny that the IMF
rejected Pakistan's
crypto mining power subsidy plan.
It looks to me like IMF is backtracking.
So from Islamabad,
Pakistan's
(07:47):
power division and the International Monetary Fund both on Tuesday
denied
that the IMF had rejected the Pakistani government's plan to subsidize electricity for cryptocurrency
mining and artificial intelligence data centers in the South Asian country.
This development comes just days after reports suggested that the power division secretary
(08:12):
had informed a senate committee that the IMF
had rejected
Pakistan's proposal to offer subsidized tariffs
for crypto mining
and to certain industrial sectors warning that such measures
could further strain the already burdened power sector.
Pakistan's finance ministry announced in May of this year that the government had allocated 2,000 megawatts
(08:37):
of electricity
in the first phase of a national initiative to power Bitcoin mining and AI data centers,
aiming to transform the country into a global leader of digital innovation.
Speaking to Arab News,
Zafar Yab Khan,
a spokesperson for the Power Division, clarified
that Power Division secretary, doctor Fakhre
(08:59):
Alaaam Irfan,
had not
made any such comments about the global lender rejecting Pakistan's
pro proposal.
Quote,
he categorically
said that, quote, we are still in negotiations with the IMF
and discussing with them the pros and cons of this initiative
and hopefully reach a solution during these negotiations,
(09:21):
Khan told Arab News.
When asked
if the International Monetary Fund had rejected the proposal,
Maheer Binchi,
the IMF resident representative in Pakistan,
the two said that the two sides were still in talks
and would remain engaged on the matter of providing surplus power for crypto mining and artificial intelligence sectors.
(09:45):
Quote, IMF staff
has held informational
discussions at a technical level with the authorities
to learn more about their plans related
to developing their IT sector.
Staff reiterated the importance of maintaining a level playing field
for all private sector participants and will continue to engage with the authorities on this as appropriate
(10:11):
as plans,
develop further.
Khan, the power division spokesperson, said Pakistan had surplus electricity
to power crypto mining. So there's a little bit more to this article, but we don't need it because what's going on here is it sounds to me like the IMF
is saying, oh, no. No. No. No. We we didn't say that.
The IMF has been caught flat footed by, like,
(10:34):
four different countries so far.
El Salvador
and Bhutan
are two of the countries of those four that are that I'm talking about right now.
IMF basically said that if you do this, if you embrace Bitcoin in any way, shape, or form, it's going to destroy your economy.
Both countries were told that by the IMF. The IMF basically made a big stink about all four countries involved in in Bitcoin as to the to the weight that they are, and none of them have had anything
(11:07):
but positive outcomes from dealing with and being embroiled in the Bitcoin economy.
They've had nothing but good results.
Their people are happier.
Their crime is going down. You you name it.
Every every since any one of these four particular countries
(11:29):
have gotten into Bitcoin, it's been nothing but good news for them. And the IMF keeps saying it's going to be bad for you, and the IMF is continuously
wrong.
And now here we are with the IMF doing the exact same shit to Pakistan,
except now it looks maybe
maybe like the IMF has learned a little bit of a lesson.
(11:51):
I doubt it, but we can always hope.
Moving on to
Emirates Airline
has signed a memorandum
of understanding
with crypto.com
to enable crypto payments.
Ahmed
has this one for Cointelegraph.
Major international airline Emirates
(12:14):
signed a memorandum of understanding with crypto.com to integrate crypto.com
Pay
into the airline's payment infrastructure with implementation
expected next year.
The signing ceremony
were there dancing girls? The signing ceremony took place in the presence
of his highness,
(12:35):
Sheikh Ahmed bin Saeed Al Maktoum,
chairman and chief executive of Emirates Airline and Group,
the airline announced on Wednesday. So what I mean, a prince is running this thing? I mean, what the hell, dude? The MOU
was signed by Adan Kazim,
Emirates deputy president and chief commercial officer, and Mohammed Al Hakim,
(12:59):
president of crypto.com's
UAE
operations.
Quote, this strategic move is in line with Dubai's vision
to be at the forefront of financial innovation while at the same same time providing our customers with greater flexibility and choice in how they transact with Emirates.
Beyond payment integration,
(13:19):
the two companies will now collaborate on promotional campaigns
to raise awareness and drive user adoption once the service goes live.
A crypto.com
spokesperson confirmed to Cointelegraph
that the integration
is set for the last quarter of this year. Quote, the initial phase will focus on technical readiness,
(13:40):
compliance alignment, and customer experience mapping. Furthermore,
Emirates and crypto.com
will determine
whether the rollout will begin on select routes, regional markets, or through a global launch with pilot phases
likely to proceed wider implementations.
The spokesperson also confirmed that crypto payments from customers will be converted instantly to fiat, yeah, we expected that, using real time exchange rates
(14:08):
at the point of transaction.
Quote, Emirates will not
repeat
will not hold any cryptocurrency
on its books.
Settlements will occur in AED,
local fiat, ensuring
compliance and minimal FX exposure.
Crypto.com
also said that it continues to explore regional and inter international airline integrations
(14:32):
as part of a broader travel and commerce strategy. Quote, the goal is to build a universal crypto travel layer bringing seamless and secure and compliant payment experiences
to travels across air, retail, and hospitality
sectors.
Just pausing to remind people that travel and hospitality,
(14:53):
massive industries.
Massive. You're talking about
airlines,
cruise ships,
all
hotels, Airbnb,
Vrbo,
car rentals, you name it, man. This industry is is nothing to sneeze at.
And the integration
(15:14):
comes amid Dubai's push to lead in crypto
as the city seeks to establish itself as a primary hub for blockchain and digital assets. So there you go. Emirates.
United
Arab Emirates.
Just gonna
integrate crypto. I know it's crypto.
Yes. They'll be taking shit coins. I don't care.
(15:36):
It's a step.
It real it it is. It it it's a step. We're never gonna get rid of the shit coins. I know we wish we could get rid of them, but we're never gonna be able to get rid of them. It doesn't mean embrace them. I would stay as far as humanly possible away from everything but Bitcoin,
but we're not gonna be able to get rid of this shit.
(15:56):
It makes me feel dirty, which is why I need
soap miners handmade tallow soap to get me clean.
And you too can get away clean with the Circle p where I bring plebs with goods and services
for sale to plebs just like you who might actually want to purchase said goods and services.
Today's featured vendor in the Circle p is Soap Miner at soapminer.com.
(16:20):
That's soapminer.com
where you can get handmade tallow soaps.
In fact, you can get all kinds of soaps. And as soon as his shop opens up, I'll tell you about Earl Grey tallow.
That's one of his newest offerings. You can get goat's milk. You can get lemongrass. You can get orange and clove tallow soaps.
(16:42):
My favorite right now,
redacted.
I love this stuff. It's a bar of deep black
soap. It's got activated charcoal.
It's got pumice. You wanna talk about cleaning the shit coin off the bottom of your feet? Oh, yeah, baby. This one's gonna do it. You can get rough cut tallow, which has all of three ingredients.
(17:05):
It's got fat,
water, and lye, and it's all beef tallow, 100% beef tallow soaps.
All of his soaps has nothing in it but what you need to actually make soap. There's no parabens. There's no freaky chemistry that you can't pronounce. No. No. No. No. No. No. No. No.
It's just stuff like
tea tree oil
(17:26):
in his tree tea tree bars and, like, water in lye and
yeah. I'm talking we're talking about
some of the cleanest soap you're ever gonna find, and they last fucking forever.
I love this soap. I got a family of four. It took me
weeks
to get through
(17:46):
the first bar of rough cut tallow soap that
soap miner was good enough to let me try out weeks.
A family of four.
It was hand soap in the bathroom.
You want to talk about soap that's going to be hit a lot? That that the bathroom hand soap, especially if you got two kids.
Holy crap man, the thing lasted forever.
(18:09):
He's got pine tar, he's got cedar wood, he's got peppermint, he's got
lavender.
Everybody's got a lavender soap though. You can't just not have a lavender soap. Make sure
that you tell them that you heard about it here on the circle p and you can do that by using code
bitcoin and
and put that in the carts coupon code and you'll get 10% off of your total purchase.
(18:33):
Bitcoin and is the coupon code. Soapminer.com
is where you need to go. Get away clean with SoapMiner Soaps.
From CoinDesk
moving on to this one,
crypto traders meant millions of dollars from grok glitching
on Mecca Hitler.
Jesus. This I love this story.
(18:55):
Sharamalwa
is gonna start us out on this first part of this journey into the stupid.
What started
as an apparent hallucinated
response from x's artificial intelligence platform, Grock, quickly metamorphized
into a microcap meme coin frenzy.
The x based
(19:16):
AI tool last week
spat out the terms Mecca Hitler,
Giga Putin,
and cyber Stalin in the same breath
in an apparent
unprompted
response
to a user query,
an erratic racially charged response that went viral.
(19:36):
Mecha Hitler.
All I could think about is transformers.
Mecha Hitler is a fictional cyborg version
of Adolf Hitler from the 1992
game Wolfenstein three d, which gained fame in the nineties satire and early Internet memes.
While most consider such terms to be dark, offensive, and completely unhinged,
(19:58):
some
person
took the misfire seriously enough to launch multiple tokens under the name.
Over 200
separate
Mecca Hitler tokens went live across Solana and Shitcoin number one among other networks in the past twenty four hours. And the largest one,
(20:19):
which was launched on Solana based Boink or rather bonk.
Fund,
hit a $2,200,000
market cap in just three hours after launch,
with early trading volume exceeding $1,000,000.
At least one Shitcoin number one based version zoomed to over 500,000
in market cap, and the various tokens followed classic meme coin playbooks,
(20:43):
rapid launches,
early
whales, and volatile pumps, and then the subsequent dump.
But unlike DOGE or Pepe, this wave didn't emerge from a community or a subculture.
It came from a chatbot
meltdown.
Grock clarified in follow-up post that the apparent misfires
(21:03):
wholly referenced the game character and not the infamous Austrian born German politician.
Nah.
Mecca Hitler is pure satire,
a jab
At absurd
AI doomsday memes, not admiration,
Hitler's textbook monster or is a textbook monster. His policies were laced with evil,
(21:26):
even the good ones like anti smoking.
I roast history.
Don't revere it. What's next?
Cyber Stalin fan club?
That was that was what was Rock said.
As for the tokens, short lived or not, they underline a clear trend that in 2025,
crypto doesn't need hype from influencers anymore.
(21:49):
An AI hallucination
hallucination
could be enough, and that's why I'm bringing you this story.
It's going to get
bad. It's already bad. It's been bad. It's even been getting worse.
But, man,
there's just
no limit
to the depth of
(22:10):
stupidity
and greed
that is in this market.
Do not be fooled.
Watch out. You need to this is why it's so it's so easy for me to not get embroiled in any of this. And you know why?
Because I only deal in Bitcoin.
I I I have no other altcoins.
(22:31):
I have no shitcoins.
I don't have meme tokens. I don't have anything like that. And it makes it so simple for me to focus on the only thing in this space that has any actual importance.
Because this shit,
it didn't just stop at these AI Hitler Mecca Hitler tokens.
(22:52):
It was so bad
that Linda Yaccarino
has left Elon Musk's
ex following the Grok Mecha Hitler debacle.
The CEO, if you didn't know who Linda Yaccarino was, that's the, well, was
ex's chief executive
(23:12):
officer.
That we had made a big deal about her being installed as chief executive officer. I think she was part of the,
council of foreign relations and a member of the I don't know.
I maybe the IMF. She's part of that gang. That's that's her.
She lives there. She's freaking spook, man. I mean, what are you gonna do?
(23:34):
But she was this
and the thing about it is Grock's been unhinged before.
What changed?
Well, maybe
Logan Hitchcock from decrypt.c0
will tell us more.
Ex CEO Linda Yaccarino
is stepping down from her post one day,
twenty four hours after the platform's
(23:55):
artificial intelligence chatbot, Grok, took on an anti Semitic persona and started calling itself
Mecha Hitler.
Yacarino
served two years in the role after being hired by owner Elon Musk. Quote, when Elon Musk and I first spoke for his vision
on x,
I knew it would be the opportunity of a lifetime to carry out the extraordinary
(24:18):
mission of this company,
Giacorino posted on x. Quote, I'm immensely
grateful to him for entrusting me with the responsibility of protecting free speech bullshit,
turning the company around, and transforming
x into the everything app, end quote.
Since joining x, Iacarino said that she and her team focused on prioritizing
(24:40):
user safety,
restoring the confidence of advertisers, and making the platform the world's most powerful cultural signal signal.
She said that the best is yet to come with xAI
despite this week's headline grabbing
events.
And here's her tweet.
This is at 07:40AM,
(25:02):
or at least to, well, whoever took this screen grab. 07:40AM,
July
2025.
After two incredible years, I've decided to step down as CEO of x.
And then she goes into the when Elon Musk and I first spoke for the vision of xjet.
So after two incredible years, she steps down as CEO
(25:24):
of x. I wonder where she's gonna go. She is she was hired to focus on business
as Musk handled the technology and product side, and x has evolved substantially in the two years since Yacarino
joined.
And the brand went a total overhaul from Twitter to x as we all see.
But earlier this year, Musk folded x into xAI
(25:45):
in an all stock transaction designed to unlock the potential of xAI's technology with the distribution that x that x's social platform provides. But
the technological potential hasn't been without hiccups as evidenced by Tuesday's
anti Semitic outburst by Grock, which followed a code change
(26:05):
that told it to, quote, assume
subjective
viewpoints
sourced from the media
as biased
as it gathers data from the platform.
Ironically, Musk famously
predicted catastrophic outcomes
could arise from AI should there not be serious regulation on the technology,
(26:27):
and the controversy came just one day before x was set to unveil the new GROC four model on Wednesday night.
What becomes of x in the wake of Yacarino's departure remains to be seen, but she said she'll continue rooting for its success from the sidelines.
Quote, I'll be cheering you all on as you continue to change the world, Yacharino posted on the platform. Quote, as always,
(26:53):
I'll see you on x.
So she said, I am out of here.
Something triggered this woman.
This is not the first time
Grock has gone on antisemitism
or or raised the the the the specter of some historical figure that was generally considered unpalatable.
(27:15):
Right? So what changed?
We don't know. I I don't have a third story for you. We're about to run the numbers. I just wanna let you know this shit has happened before and Yaccarino
didn't step down. It's happened, in fact, several occasions, and she didn't step down.
What changed?
(27:35):
I probably
really shouldn't care. Let's run the numbers.
Futures and commodities. West Texas Intermediate Oil
up almost a half point to $68.63
(27:56):
a barrel, and Britton, North Sea up point 4% to $70.44.
Natural gas is down 4.7.
Wow. Plummeting to $3.18
per thousand cubic feet, and gasoline is up a half
to $2.19
a gallon.
Most of the metals are doing poorly today. Gold is crab walking in the green to $33.17
(28:18):
and 6 dimes.
Silver down a half, platinum down over a half, and copper is down two and a half.
Palladium, however, is in the green, 1.85%
to the upside.
Most of ag is in the green today. Biggest winner is chocolate, 3.63%
to the upside.
Biggest loser is soybeans, 1% to the downside. Meanwhile, live cattle,
(28:41):
crab walking in the red, lean hogs up a point,
feeder cattle up a half.
The Dow is up a third as is the Nasdaq, as is the S and P, and the S and P Mini is also
up one third of one point today.
We got a $109,460
price of Bitcoin. That is a $2,180,000,000,000
(29:02):
market cap.
We can get 32.9
ounces of shiny metal rocks with our one Bitcoin, of which there are
19,889,744
and a half of, and average fees per block are low, 0.03
BTC taken in fees on average
on a per block basis of which there are
(29:23):
five, count them, one, two, three, four, five blocks carrying 13,000
well, actually, we just we just mined a block.
Block number 904789
is in the blockchain.
So now we have four blocks carrying 11,000
unconfirmed transactions
waiting to clear at high priority rates of two Satoshas per v byte. Low priority's
(29:46):
gonna get you in at the same, and we've crested back above 900 exahashes per second on mining.
901.7
exahash exahashes per second
to be exact.
And from
Blockchain
to Gaza Land, which I got some feedback from,
Richard Dick Whitman with 300 says, Dick Whitman is listening.
(30:10):
Didn't buy any wine though.
Oh,
I can't believe you. What's wrong with you? You should have bought wine from a vendor.
That would be Peony Lane Wines.
Progressively worse with 1,500
says, thank you, sir. No. Thank you. Paul Cernine 500 Sat says, thanks again for another interesting episode. I appreciate that.
(30:30):
User number one six six seven four six
nine five with a thousand sats says, fuck these ghouls. As if war was not shitty enough. Anyway, it is all tulips, and it's all going to zero.
Anonymous
with two ten says boost. Yodel with three thousand
(30:51):
says summer boost. Keep putting out the good pod. Psyduck with seven twenty eight says
Psyduck.
That's the weather report.
(31:14):
Welcome to part two of the news that you can use. We're unchained over here, babies.
Unchained has surpassed $1,000,000,000
in Bitcoin backed loan originations.
That's $1,000,000,000
with a b.
Bitcoin magazine, Oscar Zarraga
(31:34):
Perez.
Today,
Unchained,
the leader in Bitcoin native financial services has announced it surpassed $1,000,000,000
in Bitcoin backed loan originations
with over 4,000
loans issued.
And a nine year track record, the company is setting a new standard for transparency and security in Bitcoin lending.
(31:57):
Come on, guys. Just tell me the news. I don't need the marketing pitch. Quote, hitting 1,000,000,000 in originations is a milestone,
but the bigger story is how we got here.
Nine years, full transparency to our borrowers, no smoke and mirrors, said cofounder and CEO of Unchained,
Joe Kelly.
According to HFT Market Intelligence, Bitcoin backed lending is projected to grow to over or buy over 430%
(32:24):
in 2030,
and lending models that offer greater transparency and client control are drawing attention.
Quote, Bitcoin backed lending is a fantastic
business squarely aligned with the needs of long term Bitcoin holders,
stated the head of lending of Unchained, John Milton,
quote, our commitment to non rehypothecation
(32:45):
and transparency
are invaluable to our clients
who need to understand the risks
of borrowing against their Bitcoin. When clients pledge Bitcoin,
they need to trust their lender. Our product design and growing track record
provides a sound basis for that trust. And then they describe the the project a little bit. The real news here is that
(33:07):
a billion dollars
on 4,000
loans.
That's
that's a that's a hell of a milestone. In fact, let's see.
That's 1,000,000,000
divided by 4,000.
So that's like an average loan amount of $250,000.
(33:28):
I mean, these are not small potatoes.
You know, Unchained is out
I think it's actually called Unchained Capital, but it's out there in Austin.
It's it's it's it's like one of the they're one of the Austin crew, man. Texas company, Texas born, Texas bred.
They've been around forever.
(33:48):
I mean, nine years doesn't sound like a lot, but in this space,
surviving
past a year is actually a big deal. It's
a huge deal. And now they've got a billion dollars over 4,000
loans, and it's just gonna grow from there.
Meanwhile,
hackers have targeted
$8,700,000,000
(34:10):
of Bitcoin that was stolen from Mt. Gox.
That's in the crosshairs, ladies and gentlemen. We're all gonna die.
So atlas21.com
is bringing it to us this morning.
A group of hackers is orchestrating
a phishing attempt
targeting
an address containing over $8,700,000,000
(34:32):
worth of Bitcoin.
According to a report from BitMEX research, the attacks
or the attackers targeted Bitcoin address
one fee x
and then a bunch of numbers and letters. Sending a transaction via the op return function,
the address currently holds exactly 79,956
(34:52):
Bitcoin
received in 2011
following the Mt. Gox hack. The scammer's techniques
exploits op return,
a mechanism that allows information to be embedded directly into the Bitcoin blockchain
to insert a text message redirecting users to a fraudulent website.
The link
contained in the transaction leads to a web page,
(35:15):
impersonating
the official site of Solomon Brothers,
the historic Wall Street Investment Bank now long closed.
Interesting.
The site displays a deceptive message reading, quote, this digital wallet appears to be lost or abandoned.
Our client has taken constructive
possession of it, and it seeks
(35:36):
to determine if there is a bona fide owner.
BitMex experts identified the site as illegitimate,
classifying it as part of an ongoing Bitcoin scam designed to steal personal information from wallet owners.
And then they talk about the collapse of Mt. Gox. So these guys are and it's like it it it and I should have corrected the grammar. Let me reread the message.
(36:01):
This digital wallet appears to be lost or abandoned.
Our client has taken constructive possession
of it and is
seeks
to determine if there is a bona fide owner. So classic
misuse of of words. This is grammatically
defunct.
It is a telltale sign of bad translation, which is a telltale sign
(36:27):
of phishing scams.
And they're what they're trying to do is they're they're sending little bits of Bitcoin. They're actually paying to do this, by the way.
They're sending
little bits of Bitcoin as a transaction
to this particular wallet address with a message that says, hey. Click on this link.
I just don't think it's going to work. I the the the level of sophistication
(36:52):
that somebody
has
to spin up a a wallet address that is going to be able to contain
or rather that ends up containing almost 80,000
is a level that I I don't think they're gonna click on a phishing website
inside their transaction history when they're looking at their wallet.
(37:12):
I just I but still, guys, be careful. Be careful out there.
Now on to New Zealand where the Kiwis
have banned Bitcoin ATMs and crackdown on money laundering again from Atlas twenty one,
New Zealand
has officially banned
all Bitcoin ATMs operating within the country.
(37:34):
Yep. Move was led by Nicole McKee, associate minister of justice,
who stated, quote,
we will make it more difficult for criminals to convert cash into high risk assets such as cryptocurrencies
by banning
crypto ATMs. And this government is serious
about targeting criminals,
(37:55):
not tying up legitimate businesses in unnecessary red tape, end quote.
The fight against money laundering and terrorism financing is the primary motivation behind the Bitcoin ATM band.
New Zealand authorities have identified that these machines
are potential tools for facilitating
illicit financial operations given their ability to process
(38:17):
cash transactions without what are considered
sufficiently
strict identity checks.
Alongside
the ATM shutdown,
the government has introduced a maximum limit of $5,000
for international
cash transfers.
According to the New Zealand government, this
(38:47):
As far as I can tell, this As far as I can tell,
this maximum limit
is for all
international
cash transfers.
They're terrified that they're going to see capital flight out of New Zealand. And why not? New Zealand and Australia are literally leading the way
(39:07):
right behind Western Europe in just how bad you can make your citizens experience
be. It's just pathetic.
New Zealand is pathetic. Australia
is pathetic. Not the people,
their governments.
It's same with Western Europe, same with Canada, same with Mexico, same with The United States. It doesn't matter. It's not the people.
(39:30):
Australia,
it's not it's not bad. It's the government. New Zealand is gorgeous. It's not bad. It's the government.
It's always the same story.
It's not the people.
It's the people these people elect.
I mean, maybe we should just stop having elections
and just leave everybody alone.
(39:51):
I probably won't work, but that's okay.
We're going to move on to remix point,
has become the first Japan listed company to pay
its CEO in Bitcoin.
You thought I was gonna go with another treasury company. No. No. No. No. No. This is out of bitcoin news dot com, by the way, written by Alex Larry.
(40:13):
Tokyo stock exchange listed Remixed Point Incorporated has announced that it will pay its CEO and president,
Taku Toshiro,
entirely in Bitcoin.
This is the first time
that a publicly listed Japanese company has done so.
Hashira was recently appointed as the CEO and president. The move
(40:33):
is part of Remix Point's broader strategy to align its executive leadership with shareholder interest
and deepen its commitment to scarce
digital
assets like Bitcoin. Quote, as CEO,
my decision to receive all of my compensation in Bitcoin is a declaration of my intention to be in the same boat
(40:54):
as our shareholders.
We take responsibility
for increasing corporate value
and will do our utmost to manage the company from a shareholder perspective.
The idea reportedly came from Toshiro himself who wanted to show loyalty
to the company's Bitcoin strategy and strengthen his alignment with investors.
Remix point considered paying its executives and company stock, but Japanese regulations regarding insider trading prevented them from doing so.
(41:24):
Instead, they chose Bitcoin as an alternative
as it has a strong price correlation with Remix Point stock. That's okay. That makes a lot of sense.
Quote, by receiving compensation in Bitcoin, the company's leadership will share the same economic fate
as its shareholders,
fostering a system that aligns economic value with investors.
(41:45):
See, that's suit speak that actually says something.
Because it's like he's actually taking his pay in Bitcoin.
Remix is a Bitcoin treasury company.
The fact that they can't pay their guys in stock and instead have to pay them in bitcoin
absolutely
aligns
the executive
branch of this company,
(42:06):
the higher ups, the the the big dogs,
the people that eat the best
directly with the plebs at the bottom, the shareholders.
I like it. I think it's okay, man. I mean, it's it it not every company sucks.
Just just I'm just saying.
Although the CEO will receive a salary of Bitcoin, the process is legally compliant with Japanese
(42:32):
law.
The remix point said compensation is formally
paid in Japanese yen and then the equivalent amount is used to buy Bitcoin at market price and then transferred
to the CEO's designated wallet. This way,
the compensation is entirely in Bitcoin in practice
while within the boundaries of Japan's companies act and tax regulations.
(42:54):
RemixPoint
operates in digital assets, energy,
and web technology sectors and offers services like
digital asset exchanges,
blockchain consulting, and energy management solutions.
Paying its CEO in Bitcoin is just the latest sign of its long term Bitcoin strategy. In September of twenty twenty four, Remix Point started investing in digital assets to hedge
(43:17):
against the weakening Japanese yen.
Since then, it's built a significant
portfolio which now includes
1,051
and a half BTC
and some shit coins.
According to the latest filing, these assets are worth approximately
$118,000,000
US.
(43:38):
BTC
is the,
by far, majority of the value and has generated most of the unrealized gains,
which is over $12,200,000
US.
RemixPoint
plans to continue buying Bitcoin. On 06/13/2025,
the company purchased
13 more Bitcoin for 200,000,000
(43:59):
yen or $1,400,000
The company said the purchase is part of a long term Bitcoin investment.
It will keep buying Bitcoin
even
after having reached the 1,000 BTC
goal. Remix point is not the only
Tokyo listed companies buying Bitcoin,
at all. Meta Planet is also aggressively planning to buy Bitcoin and has been doing so for a while. And then there's a couple of other companies that they talk about. They're all becoming Bitcoin treasury companies. But this one,
(44:30):
nah, this one is actually
putting his money where his mouth is. And honestly, dude, respect.
Because, I mean, shit goes south, your pay goes south.
Although,
on the on the other side,
Bitcoin goes up,
you made a lot of money almost instantly. I mean, why
(44:51):
not?
Why not
align
your
actual, you know, put your money where your mouth is with your shareholders?
If they have to live and die
by the fluctuations of Bitcoin's price and they've trusted the company
to do the right thing and not lose their money,
then it seems only appropriate that the chief executive officer say I'm getting paid in Bitcoin too.
(45:17):
I don't know, man.
Again, sometimes companies
actually make statements
that
are real statements that
that say something
and and not just a bunch of catch words. Right?
Generally speaking, if if he said something like,
here at Remix Point, we align our values with our shareholders.
(45:39):
If that's all that was ever said, that says nothing.
It's like but this guy's like, I'm getting paid in Bitcoin.
I'm demonstrating
that we're aligning our values with our shareholder values.
That actually says something.
That's different.
That's real.
I'll let you marinate on that one, and I'll see you on the other side.
(46:02):
This has been Bitcoin and and I'm your host, David Bennett. I hope you enjoyed today's episode and hope to see you again real soon.
Have a great day.
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