Macro Meets Crypto-Safe Haven: Bitcoin is trading “like gold” again as investors flee volatility and the BTC–gold correlation hits a six-year high amid debasement fears tied to Treasury bond buyback plans. Rates Whiplash: A blowout US jobs report (162K payrolls) flipped Fed expectations, pushing BTC back below $80K after a run above $82K. ETF Demand Surge: US spot Bitcoin ETFs logged a record $731M net inflow, with BlackRock’s IBIT taking about $454M and total ETF assets topping $103B. Corporate Treasury Math: Strategy says it has ~$52.5B in net Bitcoin reserves after subtracting preferred and convertible debt claims—shifting from “total stack” to shareholder net exposure. On-Chain/DeFi Security: Notional Finance suffered a ~$1.7M drain after an integer overflow in its legacy escrow free-collateral logic. Enterprise Crypto Rails: Citi expanded tokenized deposits using Swift’s new blockchain ledger to move value beyond its own network. Regulated Derivatives: CFTC data shows institutions active in Bitcoin futures, while Kalshi added CFTC-approved BNB perpetuals for eligible US traders. Crypto Governance/Trust: Cardano Foundation became the first major crypto org to get a blockchain-attested audit from Grant Thornton. Privacy Tradeoffs: Optimism published a detailed look at privacy architectures and the real-world compliance/usability costs.