Living history: We’re still discovering Satoshi correspondence

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We’re coming up on 14 years since Satoshi Nakamoto’s last-known correspondence — an email to early Bitcoin developer Mike Hearn saying that he’d “moved on to other things.”

Remember, the “known” there is doing a lot of work. The existing compendiums of Satoshi’s writings will probably go unfinished forever. There’s likely still loads of private emails, direct messages and other interesting stuff that have never been made public (and with good reason).

The most recent dumps of unreleased Satoshi texts came early last year, when Martti Malmi and Adam Back provided years…

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Corporate Bitcoin Holdings Hit Record High In Q1 2025 As Public Companies Accelerate Accumulation

Public Companies Now Hold Over 688K BTC, Signaling Record Institutional Bitcoin Adoption

Bitcoin adoption by public companies has reached an all-time high, according to a new report from Bitwise. In Q1 2025, publicly traded firms now hold a combined over 688,000 BTC, up 16.11% quarter over quarter, representing 3.28% of Bitcoin’s fixed 21 million supply.

Image via Bitwise

This corporate treasure trove is valued at over $57 billion, based on a Bitcoin price of $82,445, reflecting a 2.15% increase in total value from the previous quarter. The number of public companies with Bitcoin on their balance sheets has also grown to 79, a 17.91% quarterly increase, with 12 new companies joining…

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NEW: Bitcoin Outperforms All Assets 60 Days After Every Major Global Crisis Event

Bitcoin leads all major assets with the strongest 60-day returns after global disruptions since 2020. It has consistently outperformed equities and gold in volatile times proving its strength as a digital safe haven.

During events like the US-Iran conflict and COVID-19 crash Bitcoin rebounded fast posting gains of 20 percent and 21 percent while the S&P 500 and gold lagged behind. After the 2020 US election Bitcoin surged 131 percent in just two months far ahead of equities and gold.

Following the 2023 banking crisis Bitcoin jumped 32 percent in 60 days signaling strong investor confidence. Even after the Russia-Ukraine war Bitcoin outpaced the S&P 500 despite initial drops. Data shows Bitcoin repeatedly delivers faster and stronger recoveries during uncertain times. With the next 60-day window ending June 1 Bitcoin watchers are optimistic even as equities drop and gold climbs.

Binance Advising Multiple Governments On Strategic Bitcoin Reserve

Financial Times reports that bitcoin and crypto exchange Binance is advising several countries on creating their own bitcoin and crypto regulations and establishing national strategic bitcoin reserves.

Binance CEO Richard Teng revealed that multiple governments seek the exchange’s guidance on establishing strategic bitcoin reserves and crafting digital asset policies following recent U.S. moves toward creating a national bitcoin stockpile.

“We have actually received quite a number of approaches by a few governments and sovereign wealth funds on the establishment of their own crypto reserves,” Teng said in an interview with the Financial Times. While declining to name specific…

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Crypto Privacy Legalized? Tornado Cash And Samourai Cases Suggest Uncertainty Remains

Last week, Deputy Attorney General (DAG) Todd Blanche sent a memo to employees of the Department of Justice, directing the agency to stop prosecuting mixers, exchanges, and “offline wallets” for the criminal conduct of their users.

Understandably, the community broke out in celebration. Privacy is now legal again! Some proclaimed. #FreeSamourai! Others demanded. DOJ ends “regulation by prosecution”, media outlets headlined, referring to the memo’s title, as companies who had previously left the US due to regulatory uncertainty announced plans to return. This will change everything, appeared to be the general tenor.

But does the DAG’s memo actually change anything?…

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Hyperliquid’s averaged $6.4B in daily trading volume over the past 3 months: Blockworks Research

This is a segment from the Empire newsletter. To read full editions, subscribe.

When I talk to folks about success stories in crypto, Hyperliquid is often the common answer. 

“Over the past three months, the platform has averaged $6.4 billion in daily trading volume, which sits just above 50% of the daily trading volumes of Bybit and OKX,” Blockworks Research’s Boccaccio wrote in a recent report. 

“As of today, the BTC OI [open interest] on Hyperliquid sits at $1.4B, which is 15% of Binance ($9.2B), 46% of OKX ($3B) and 25% of Bybit ($5.6B),” Boccaccio wrote. 

To put that into perspective, Jupiter Perps — the closest competitor to Hyperliquid — averages…

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Bitcoin Stuck Below $85,000: Bull Run Shakeout Or Bearish Downtrend?

Bitcoin BTC/USD has been trading sideways over the past 30 days, prompting a debate about when the next strong trend will emerge.

What Happened: On-chain analytics firm CryptoQuant on Wednesday analyzed the sell-side pressure impacting Bitcoin over the past two weeks.

Contrary to popular belief, whales are not dumping.

Instead, short-term holders are driving the recent pullbacks, creating turbulence without substance.

The data from its Exchange Inflow Age/Value Bands shows that short-term holders are the main source, offloading an average of around 930 BTC per day, compared to just around 529 BTC/day from long-term holders, who remain largely unfazed.

The on-chain data…

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What DeFi founders could learn from stablecoin success

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We’ve talked a lot about where venture capital stands in crypto right now. I had the chance to catch up with Dragonfly’s Rob Hadick and pick his brain about the industry, VCs and, of course, stablecoins. 

Hadick believes that the backdrop for crypto right now “is as good as it’s been” now that the US is mulling regulation and has been overall friendlier to the industry. Add in Hadick’s optimistic stance on things like stablecoins, and bam! He says he’s “never been more bullish for crypto in the US.”

However, he noted that valuations across crypto are still “very…

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LATEST: Binance’s Role in Shaping Government Policies for Cryptocurrency Regulation Expands

Binance has shifted from legal troubles to becoming a global crypto advisor. Once under intense scrutiny and fined over $4.3 billion in 2023 for regulatory violations the crypto giant is now working closely with several governments on building national Bitcoin reserves and shaping digital asset regulations.

Binance CEO Richard Teng confirmed that many countries and sovereign wealth funds have reached out for guidance on creating strategic crypto reserves. He also said Binance is helping nations draft frameworks to govern cryptocurrencies. While he did not name the countries he emphasized that global interest is growing fast especially with rising support from the United States.

As President Trump pushes for a national crypto stockpile other nations are racing to catch up. Teng highlighted that the U.S. remains far ahead in crypto preparedness. Binance’s transformation from enforcement target to trusted advisor marks a significant moment for the industry showing growing recognition of crypto’s role in future economies.

Financial Times