CEO and founder Jack Mallers revealed the numbers on Friday when he posted a copy of a private letter previously sent to the company’s investors. Strike&#8217;s Growth Exploded 600% Last Year Perhaps the reason Jack Mallers was picked to lead Twenty One Capital, the new bitcoin treasury firm backed by stablecoin giant Tether and Japanese […]

Bitcoin Payments Firm Strike Grew 600% in 2024

Over $4 trillion worth of real estate could be tokenized on blockchain 
networks during the next decade, potentially offering investors greater access 
to property ownership opportunities, according to a new report.
The Deloitte Center for Financial Services predicts that over $4 trillion 
worth of real estate may be tokenized by 2035, up from less than $300 billion 
in 2024. The report, published April 24, estimates a compound annual growth 
rate (CAGR) of more than 27%.
The $4 trillion of tokenized property is predicted to stem from the benefits 
of blockchain-based assets, as well as a structural shift across real estate 
and property ownership.
_Global tokenized real estate value, growth predictions. Source: Deloitte_
&#8220;Real estate itself is undergoing transformation. Post-pandemic work-from-home 
trends, climate risk, and digitization have reshaped property fundamentals,&#8221; 
according to Chris Yin, co-founder of Plume Network, a blockchain built for 
real-world assets (RWAs).
&#8220;Office buildings are being repurposed into AI data centers, logistics hubs 
and energy-efficient residential communities,&#8221; Yin told Cointelegraph.
&#8220;Investors want targeted access to these modern use cases, and tokenization 
enables programmable, customizable exposure to such evolving asset profiles,&#8221; 
he said.
_**Related:**__**Blockchain needs regulation, scalability to close AI hiring 
gap**_
The uncertainty triggered by US President Donald Trump&#8217;s import tariffs has 
boosted investor interest in the RWA tokenization sector, which involves 
minting financial products and tangible assets on a blockchain.
Both stablecoins and RWAs have attracted significant capital as safe-haven 
assets amid the global trade concerns, Juan Pellicer, senior research analyst 
at IntoTheBlock, told Cointelegraph.
The tariff concerns also led tokenized gold volume to surpass $1 billion in 
trading volume on April 10, its highest level since March 2023 when a US 
banking crisis saw the sudden collapse of Silicon Valley Bank and the 
voluntary liquidation of Silvergate Bank
 _**Related:**__**US banks are &#8216;free to begin supporting Bitcoin&#8217; &#8212; Michael 
Saylor**_
## Blockchain innovation could drive regulatory clarity
Growing RWA adoption may inspire a more welcoming stance from global 
regulators, Yin said.
&#8220;While regulation is a hurdle, regulation follows usage,&#8221; he explained, 
likening tokenization to Uber&#8217;s growth before widespread regulatory 
acceptance:
&gt; &#8220;Tokenization is similar &#8212; as demand increases, regulatory clarity will 
&gt; follow.&#8221;
He added that making tokenized products compliant with a wide range of 
international regulations is key to unlocking broader market access.
However, some industry watchers are skeptical about the benefits introduced by 
tokenized real estate.
_The Truth Behind Tokenization and RWA panel. Source: Paris Blockchain Week_
&#8220;I don&#8217;t think tokenization should have its eyes directly set on real estate,&#8221; 
said Securitize chief operating officer Michael Sonnenshein at Paris 
Blockchain Week 2025.
&#8220;I&#8217;m sure there are all kinds of efficiencies that can be unlocked using 
blockchain technology to eliminate middlemen, escrow, and all kinds of things 
in real estate. But I think today, what the onchain economy is demanding are 
more liquid assets,&#8221; he added.
_**Magazine:**__**Ripple says SEC lawsuit &#8216;over,&#8217; Trump at DAS, and more: 
Hodler&#8217;s Digest, March 16 &#8211; 22**_

Deloitte predicts $4 trillion tokenized real estate by 2035

Bitcoin’s recovery continues to show momentum, with the asset currently 
trading at $94,288 after gaining 1.6% over the past 24 hours. The price has 
now risen nearly 15% over the past two weeks, reversing a previous correction 
phase and pushing BTC closer to retesting the $100,000 price mark. Amid the 
price performance, recent market analysis points to diverging signals between 
BTC&#8217;s funding rate behavior and growing confidence among US-based investors. 
Related Reading: Bitcoin Whales Back In ‘Full Force’ For The Rally, Glassnode 
Reveals Bitcoin Funding Rates Drop Despite Rising Prices According to Nino, an 
analyst from CryptoQuant, the Bitcoin funding rate—typically used to gauge 
sentiment in the perpetual futures BTC market has again dipped into negative 
territory, even as whale accumulation continues on major exchanges like 
Binance and Coinbase. Nino particularly identified a notable development in 
Bitcoin’s derivatives market. The 72-hour average of BTC funding rates, 
including moving average indicators (MA, EMA, WMA), has entered negative 
territory for the fourth time this year. Funding rates refer to periodic 
payments made between long and short positions on perpetual futures contracts, 
with negative rates meaning short positions are paying long positions. This 
generally reflects that the market is either positioning defensively or 
becoming cautious at current price levels. What makes this instance notable is 
that previous dips into negative funding rates occurred at lower price levels, 
whereas the current shift has taken place above $94,000. Nino suggests this 
may point to potential market exhaustion or a phase of profit-taking, where 
short traders are more active despite upward price movement. If volatility 
increases and funding rates remain suppressed, a spike in liquidations could 
follow, especially if open interest in leveraged positions expands rapidly. 
Coinbase Premium and Whale Behavior Reflect US Investor Activity In a separate 
analysis, CryptoQuant analyst Crypto Dan noted a trend reversal beginning 
around April 21, accompanied by renewed buying from large holders, or 
“whales.” Notably, these purchases were first identified on Binance and were 
soon followed by similar activity on Coinbase. According to Dan, this pattern 
may indicate rising confidence among US-based investors and growing 
participation from institutions or high-net-worth individuals. One supporting 
metric is the Coinbase premium, which tracks the price difference between BTC 
on Coinbase and other global exchanges. A positive premium typically reflects 
stronger demand from US investors. Related Reading: Bitcoin Metrics on Binance 
Show Shift That Could Precede Market Squeeze As of now, this premium remains 
in positive territory, suggesting that US market participants are contributing 
to BTC’s recent momentum. Dan concludes that the current phase may signal more 
than a typical price rebound and could represent a broader shift in market 
structure, driven by renewed capital inflows and institutional positioning. 
Featured image created with DALL-E, Chart from TradingView

Bitcoin Sees 4th Dip in Funding Rates This Year — What Does This Mean For BTC?

Slovenia’s capital, Ljubljana, has been named the most crypto-friendly city in 
the Multipolitan Crypto Friendly Cities Index. The ranking is attributed to 
the city’s strong digital asset environment, clear regulations, and widespread 
adoption of cryptocurrency payments. Slovenia Leads in Cryptocurrency Wealth 
per Capita The Slovenian capital, Ljubljana, has officially claimed the top 
spot in the […]

Slovenia Capital Ljubljana Tops Global Crypto-Friendly Cities Ranking

United States Senator Cynthia Lummis says the crypto industry may be 
celebrating too soon over the US Federal Reserve softening its crypto guidance 
for banks.
&#8220;The Fed withdrawing crypto guidance is just noise, not real progress,&#8221; Lummis 
said in an April 25 X post. Lummis called the Fed&#8217;s April 24 announcement &#8212; 
withdrawing its 2022 supervisory letter that had discouraged banks from 
engaging with crypto and stablecoin activities &#8212; &#8220;just lip service.&#8221;
## Lummis&#8217; tone was different from the rest of the crypto industry
Lummis, a pro-crypto advocate known for introducing the Bitcoin (BTC) 
Strategic Reserve Bill in July 2024, pointed out several flaws in the Fed&#8217;s 
announcement, even as Strategy founder Michael Saylor and crypto entrepreneur 
Anthony Pompliano suggested it was a step forward for banks and crypto.
_Source:__Anthony Pompliano_
She argued that the Fed continues to &#8220;illegally flout the law on master 
accounts&#8221; and still relies on reputational risk in its bank supervision 
practices. It comes as the Federal Insurance Deposit Corporation (FDIC) is 
working on a rule to stop examiners from considering reputational risk when 
reviewing a bank&#8217;s operations, according to a recent Bloomberg report.
Lummis also highlighted the Fed&#8217;s policy statement in Section 9(13), which 
hasn&#8217;t been withdrawn, stating that Bitcoin and digital assets are considered 
&#8220;unsafe and unsound.&#8221;
She also reiterated many of the same staff behind Operation Chokepoint 2.0 are 
still involved in crypto policy today.
&gt; &#8220;We are NOT fooled. The Fed assassinated companies within the industry and 
&gt; hurt American interests by stifling innovation and shuttering businesses. 
&gt; This fight is far from over.&#8221;
&#8220;I will continue to hold the Fed accountable until the digital asset industry 
gets more than a life jacket, Chair Powell &#8212; they need a fair shake,&#8221; Lummis 
said.
_**Related:**__**If Trump fired Powell, what would happen to crypto?**_
Custodia Bank founder and CEO Caitlin Long seemed to share a similar view to 
Lummis.
&#8220;THANK YOU for seeing this for what it is,&#8221; Long said.
_Source:__David Sacks_
However, many crypto executives praised the Fed&#8217;s announcement as a positive 
development for the industry. Saylor said in an April 25 X post that the Fed&#8217;s 
move means that &#8220;banks are now free to begin supporting Bitcoin.&#8221;
Anastasija Plotnikova, co-founder and CEO of blockchain regulatory firm 
Fideum, said the Fed&#8217;s decision &#8220;is a significant development, as it will 
simplify the path to institutional adoption.&#8221;
_**Magazine:**__**Ethereum is destroying the competition in the $16.1T TradFi 
tokenization race**_

Crypto banking rule withdrawal by Fed ‘not real progress’ — Senator Lummis

A report from the on-chain analytics firm Glassnode has revealed how Bitcoin 
investors have recently been realizing an hourly profit 17% above the 
baseline. Bitcoin Realized Profit Has Spiked Alongside Recovery Rally In its 
latest weekly report, Glassnode has talked about the recent trend in the 
Realized Profit of Bitcoin. The &#8220;Realized Profit&#8221; here refers to an on-chain 
indicator that, as its name suggests, measures the total amount of profit that 
the BTC investors are realizing through their selling. Related Reading: 
Litecoin Conviction Remains Strong: More Than 20% Of Supply Frozen Since 5+ 
Years The indicator works by looking at the transaction history of each coin 
being transferred or sold on the network to check what price it was previously 
transferred at. Sales of coins that have a price lower than the latest spot 
value are assumed to be resulting in profit realization equal to the 
difference between the two. The Realized Profit sums up this difference for 
each token being sold at a profit to gauge the network total. Another 
indicator called the Realized Loss keeps track of the sales of the opposite 
type. Now, here is the chart for the hourly Bitcoin Realized Profit shared by 
the analytics firm in the report: As is visible in the above graph, the 
Bitcoin Realized Profit has witnessed a sharp spike recently. The increase in 
the indicator has come as BTC has been rallying, so it would appear that the 
investors have been looking to cash in on the opportunity. So far, the 
indicator has achieved a peak of $139 million per hour, which is about 17% 
higher than the baseline value of $120 million per hour. While this level 
isn&#8217;t too high when compared to the profit-taking sprees from the last bull 
rally (highlighted in green), it&#8217;s still notable, especially when considering 
how much lower it has been during the last couple of months. &#8220;If the market 
can absorb this selling pressure without breaking down, it paints a more 
constructive picture on the road ahead,&#8221; notes Glassnode. &#8220;Conversely, failure 
to hold these levels, under heavy profit realization, could mark this move as 
another dead cat bounce, which would be consistent with prior relief rallies 
that faded under similar conditions.&#8221; As for which side of the Bitcoin market 
is involved in this profit-taking event, data points toward the short-term 
holder cohort. The short-term holders (STHs) refer to the BTC investors who 
purchased their coins within the past 155 days. Related Reading: Bitcoin 
Whales Back In ‘Full Force’ For The Rally, Glassnode Reveals Below is a chart 
that shows the trend in the Spent Output Profit Ratio (SOPR), a metric that 
keeps track of the ratio between Realized Profit and Realized Loss, for the 
STHs. From the graph, it&#8217;s apparent that the Bitcoin STH SOPR has seen a 
sustained move above the 1.0 mark, which suggests profit-taking is now notably 
outweighing loss-taking from these investors. BTC Price At the time of 
writing, Bitcoin is floating around $94,600, up almost 12% in the last week. 
Featured image from Dall-E, Glassnode.com, chart from TradingView.com