Your daily bitcoin and macro intelligence briefing. AI-generated audio from the TFTC Bitcoin Brief newsletter, written and curated by Marty Bent.

• Bitcoin covers the full medium-of-exchange spectrum, from AI agents buying compute on Lightning to Iran demanding BTC tolls at the Strait of Hormuz

• The oil trade endgame: multisig escrow for international settlement using bitcoin's base layer and 1,000+ EH/s of thermodynamic finality

• Bitcoin as neutral Schelling point is descriptive, not prescriptive, good for all sides of geopolitical divides

• Roman Storm's acquittal motion heard today at Thurgood Marshall Courthouse, testing whether open-source code is protected speech

• China's e-CNY adoption craters as citizens reject surveillance money in favor of Alipay and WeChat Pay

• Schwab research finds even 1-3% bitcoin allocation "meaningfully reshapes portfolio behavior"

• CMBS delinquencies jump to 7.55%, highest since COVID peak, with $2B+ in newly delinquent loans

• GDP craters from 4.4% to 0.5%, dollar having worst year since 2017, federal debt at $39T

• Mining hardware tariffs could push ASIC costs above $14K, shifting U.S. hashrate abroad

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