Morning Minute: Bitcoin Devs Introduce New Quantum Method

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Today’s top stories:

• Crypto majors slightly green; Bitcoin at $74,600
• BTC ETFs see $186M in inflows, $600M in the last 2 days
• The BIP-361 proposal would freeze Bitcoin without moving in an attempt to handle the volume
• All birds increase 800% after pivot to AI
• UNC jumped another 120% to $20M, the fastest meme in months

⚛️ Bitcoin Developers Develop Cooler Quantum Coins

The latest quantum-proof proposal for Bitcoin came on Wednesday.

Casa CTO Jameson Lopp and five co-authors posted BIP-361 to Bitcoin’s GitHub on Tuesday – a three-step system for transferring funds from addresses that are not secure or blocked by the network.

About 34% of all BTC is in the original Pay-to-Public-Key addresses with transparent keys, including Satoshi about 1.1M BTC (~$74B). Most computers running Shor’s algorithm can derive private keys from public keys. Google’s quantum team has announced that 2029 is the date it can threaten.

The way this system works is to block new sales to incoming addresses, and freeze all funds that have not moved and issue a ZK guarantee through the BIP-39 plant. Lopp himself calls it a very difficult painting and says he doesn’t think it’s necessary. But the quantum clock is ticking and new solutions are beginning to emerge…

Important Details:

• BIP-361 was posted to Bitcoin’s GitHub on Tuesday by Jameson Lopp and five co-authors; a three-step process to stop coins that don’t migrate; ~34% of BTC at stake including Satoshi’s ~1.1M BTC
• Time: Part A prohibits legacy address posting 3 years after BIP-360 activation; Part B suspends unsubsidized payments after two years; Part C choose ZK-proof recovery through BIP-39 seeds; Google indicates 2029 as a date that could threaten the amount
• Argument: Lopp calls it a complex painting, not yet established; Opponents argue that the suspension system violates Bitcoin’s license-free, sovereign laws.

🌞 WLFI Wants Your Tokens Already Locked for Trump’s Second Term

The news of the $75M loan for Dolomite last week and the public retirement of Justin Sun and the project, World Liberty Financial left a management opinion on Tuesday that investors did not receive well.

WLFI says it will release 62.3 billion locked tokens based on what has been going on since Trump’s second term. Early investors get a 2-year cliff and then a 2-year linear vest. Anyone who does not vote to accept it is locked up forever. The founders burn 10% of their share and invest the rest in 5 years after 2 years.

This did not sit well with WLFI owners, including Justin Sun.

Important Details:

• World Liberty Financial they want to open 62.3 billion WLFI tokens under a statement that pushes for a full commitment to Trump’s second term; early adopters face a two-year mountain and a two-year vest, or the tokens are locked in forever if they refuse.
• Mathematics of Governance: quorum is only one billion WLFI required; The founders of the group can go through this without any outside help
• Market Answers: WLFI trades at $0.079, 48% below Treasury which is at $0.1507

👟 Allbirds Is Now An AI Company, And Its Stock Is Up 600%

A company that made fur boots for SF tech workers, hit a $4B valuation, then plunged 99% announced Tuesday that it was abandoning AI computing infrastructure. New name: NewBird AI.

And the stock went from $2.49 to $17 intraday.

The plan: sell the Allbirds brand to American Exchange Group for $39M, get a $50M convertible from Investor Institute, and use the proceeds to acquire GPU equipment to lease to customers.

Is this pets.com’s turn for AI? History doesn’t repeat itself, but I’m sure it has music…

Important Details:

• All the birds announced a pivot to AI compute infrastructure as NewBird AI, selling its shoes for $39M and raising $50M in flexible financing for GPU purchases; stock rose 600%
• The facts: no comps available, $58M in free traffic burned in last 12 months; The company was days away from being closed for good
• Comparison of Decrypt: Long Island Iced Tea rebranded itself as Long Blockchain in 2017, its stock soared, it was delisted, and three executives were charged with SEC insider trading.

🐦 Elizabeth Warren Comes with X Money

X Money is launching this month. Musk’s vision is peer-to-peer payments built into X, and the integration of stablecoins into something he wants to replace traditional banking. Warren fired off a letter to Musk on Tuesday, demanding a written response by April 21.

His concerns: FDIC insurance gaps, the possibility of stablecoins being released under the GENIUS Act, financial management and fundraising, and whether Musk’s reputation running X gives consumers any reason to be confident.

Warren is a member of the Senate Banking Committee, the very committee that is running the Clarity Act this month. X Money, the Warsh hearing, and the FOMC are all happening in the same two-week window. Washington has a very busy April.

Important Details:

• • Senator Warren sent a letter to Musk seeking responses by April 21 on X Money’s consumer protections, FDIC insurance gaps, possible stablecoin issuance under the GENIUS Act, and financial audit risks
  • Time: Warren is a member of the Senate Banking Committee, currently working on the Clarity Act markup; his X Money pressure falls on the same window as the hearing of the Warsh confirmation by the April 28-29 FOMC
  • What is X Money: peer-to-peer payments built into X and crypto and stablecoin integration; Musk’s first move to a “full program” of finance; early availability is said to open this month

🌎 Macro Crypto and Markets

• Crypto majors are a bit green; BTC +0.6% at $74.6k; ETH +0.1% at $2,337; SO + 2% on $85; HYPE + 1% at $44.66
• BEING (+18), DOT (+9%), and FIL (+9%) led the top movers
• Oil -1% on $88; Gold even $4,820
• Bitcoin whales they have collected 270,000 BTC ($20B) in the past month, the largest accumulation since 2013 according to CryptoQuant
• Tether found another 951 Bitcoin, now has 97,141 and is the 5th largest onchain holder

Corporate Treasuries & ETFs

Meme Coin Tracker

• Meme leaders he was especially green; DOGE +3%, SHIB +3%, PEPE +5%, TRUMP +2%, PENGU +5%, SPX +6%, FARTCOIN +8%
• Unc (+120%), Peace (+28x), Dumbmoney (+ 120%), and Bio (+ 35%) led the way for popular trends

💰 Token, Airdrop & Protocol Tracker

🚚 What is happening in NFTs?

• Directors of NFT they were a little green; Punks even at 26 ETH, Pudgy + 1% at 4.1 ETH, BAYC + 1% at 6.35 ETH; Hypurr’s even at 402 HYPE
• About the World (+25%) and Moonbirds (+5%) led the notable movers