As much as some wish it were so, changes to the Bitcoin protocol do not happen by decree.

There is no CEO to call, no board to lobby, no Vitalik to arbitrarily change the path forward. There is only signaling, the slow, public process by which holders, node runners, and miners decide what it becomes.

This week, the largest mining pool in the United States put that process in motion. Foundry USA is asking its miners to vote on whether the pool should signal support for BIP-110, weighted by ten-day average hashrate. Whatever the majority decides, Foundry will signal.

BIP-110, the Reduced Data Temporary Soft Fork, is a proposal supporters call spam defense and critics call censorship risk.

Soft forks live or die on miner signaling, and right now only 0.6% of blocks over the past 60 days have signaled support for BIP-110.

And while Bitcoin is certainly not a democracy, for the first time in years, a major protocol change is being put to a real, measurable vote.

Bitcoin governance is slow by design. Consensus across the network is hard to achieve. But this week America’s largest mining pool is giving customers a direct role in Bitcoin’s most closely watched governance debate since the Blocksize Wars.

Other top stories from the week include:

  • US gov. moves 3,800 seized BTC to Coinbase Prime despite no-sale rule

  • Japan advances path to Bitcoin ETF and lower BTC cap gains tax.

  • SEC raises IBIT options position limits 4x to 1 million contracts.

Latest News

Adoption

  • Hummingbird: The Bitcoin Jungle Story, a new documentary, premieres online, exploring the rise of Bitcoin Jungle in Uvita, Costa Rica, and the origins of its organic farmers market and circular Bitcoin economy.

  • TikTok Shop now offers Fold Bitcoin eGift Cards, allowing users to purchase $25-$500 in bitcoin using nearly all major payment methods, adding another mainstream on-ramp for new buyers.

  • “Buy Bitcoin” sign turns nine years old. Christian Langalis’ viral 2017 protest behind Fed Chair Janet Yellen later sold at auction for 16 BTC, worth over $1 million.

Regulation

  • Japan has approved legislation reclassifying bitcoin as a financial product, paving the way for spot Bitcoin ETFs and a proposed reduction in crypto capital gains taxes from as high as 55% to 20%.

  • China’s legal scholars and prosecutors are urging courts to treat crypto mixers, privacy coins and anonymous wallets as money laundering red flags while expanding blockchain surveillance and asset seizure powers.

  • USDT may have until July 2028 to comply with the GENIUS Act or risk delisting from U.S. exchanges, with potential requirements including OCC oversight and U.S. freeze order compliance.

Markets

  • The SEC approves a fourfold increase in NYSE Arca’s IBIT options limit to 1 million contracts, giving institutions greater capacity to hedge or build large Bitcoin positions efficiently.

  • Strategy launches a Bitcoin Banking Adoption Index, estimating major-bank Bitcoin adoption at 32%. Fidelity ranked first at 71%, followed by BNY Mellon and Goldman, with Royal Bank of Canada lowest at 13%.

  • Wallet of Satoshi has launched self-custodied stablecoins on Lightning in beta, letting users hold digital dollars alongside bitcoin while keeping the feature optional for Bitcoin-only users.

Treasury

  • Strategy increases its USD Reserve to $3.0 billion after raising $466.7 million through MSTR stock sales, yet $STRC ( ▲ 2.12% ) has remained below its $100 par value since mid-May despite the larger cash cushion.

  • Orange Juice, led by Jeff Booth, Lyn Alden and Ricardo Salinas, raises $40M to build a Bitcoin-backed holding company focused on acquiring profitable businesses as a long-term alternative to private equity.

  • Metaplanet launches a regulated securities business after acquiring Siiibo Securities, advancing plans to develop Bitcoin-backed financial products and tokenized securities for Japan’s regulated capital markets.

Mining

  • Foundry USA is asking miners to vote on whether the pool should signal support for BIP-110, with votes weighted by 10-day average hashrate and the majority determining Foundry’s signaling stance.

  • New data suggests Bitcoin holders can match their share of the network’s hashrate for as little as $4.61 per month per BTC by renting hashpower through OCEAN’s DATUM infrastructure.

  • Bitcoin mining remains under pressure as network difficulty fell another 5%, reducing estimated hashrate to 924 EH/s amid continued miner weakness and an industry shift toward AI infrastructure.

Politics

  • US Gov wallets transferred 3,800.5 seized BTC, worth about $235 million, to Coinbase Prime despite an executive order directing that forfeited Bitcoin be held in the Strategic Bitcoin Reserve rather than sold.

  • Elizabeth Warren demands Trump disclose crypto earnings and holdings by July 23, arguing lawmakers need updated transparency before advancing the CLARITY Act and other digital-asset legislation.

  • Taiwan has roughly an 80% chance of establishing a strategic Bitcoin reserve within five years and close to 100% within ten years according to Taiwanese legislator Dr. Ko Ju-chun.

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Back To Basics

With so much Bitcoin financialization happening lately, its fundamental properties can easily be overlooked, if not forgotten, by the mainstream.

That may be because the way people use Bitcoin often depends on where they live. In some jurisdictions, it functions as money for everyday payments. In others, it is treated primarily as long-term savings. Living in Europe, my experience has mostly been the latter.

But let’s get back to basics.

One of Bitcoin’s most powerful properties is its censorship resistance. When used as money, no bank, payment processor, or government can simply deny you access to your funds or prevent you from transacting.

That’s easy to forget while living in comfortable, stable environments. Until one day, that assumption no longer holds.

This post from Isa hits hard.  It’s 2026, Bitcoin is becoming increasingly financialized, yet she says she was just banned by Wise, seemingly because of her association with Bitcoin.

When access can be revoked, sovereignty is no longer optional.

That is why Bitcoin matters, and why its adoption remains so important. Whether by encouraging more businesses to accept it or building tools that interoperate with it, every step strengthens an open monetary network.

At its core, this is about freedom. In an increasingly digital world, losing access to banking is not a minor inconvenience. It can mean losing the ability to fully participate in society.

Now imagine how much more consequential that becomes in a world of expanded digital surveillance and a central bank digital euro.

Europe has repeatedly shown us that voting alone may not be enough. Measures can still move forward despite widespread public opposition.

As the saying goes: you cannot vote your way out of tyranny.

So what can we do?

Start preparing. Learn to hold your own money. Support businesses that accept Bitcoin. Use tools that reduce your dependence on permission.

In short: become more sovereign.

Keep stacking.
- Bam

Bitcoin Trivia

What percentage of miner signaling does BIP-110 need to lock in before the August deadline?

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