Bilal_With_Crypto

The perpetual preferred yield holds at 11.5% for April as the 30-day volume weighted average price stabilizes near $100.
Strategy (formerly MicroStrategy) has maintained the annualized dividend rate on its high-yield perpetual preferred stock, ticker STRC (known as "Stretch"), at 11.50% for the month of April 2026. This marks the continuation of a steady payout following seven consecutive monthly increases since the instrument's launch in mid-2025.
The variable-rate structure is designed to keep STRC trading close to its $100 par (stated) value. According to the company's investor page, the 30-day volume-weighted average price (VWAP) has stabilized near this level, resulting in an effective yield that also sits at approximately 11.5%. Dividends are paid monthly in cash, with the next record date set for April 15 and payout on April 30.
### A Unique Funding Tool for Bitcoin Accumulation
STRC functions as a short-duration, high-yield credit-like instrument within Strategy's capital stack. Executive Chairman Michael Saylor has positioned it as a key vehicle to raise non-dilutive (or less dilutive) capital for the company's aggressive Bitcoin treasury strategy without relying solely on common stock issuance.
The adjustable dividend mechanism incentivizes trading around par: if the price drifts too low, the rate can be increased to attract buyers; if it trades at a premium, the rate may be adjusted downward. This has helped STRC exhibit remarkably low volatility compared to Strategy's common shares (MSTR) or Bitcoin itself—recent data highlighted 30-day volatility as low as ~2% while delivering the 11.5% yield.
As of early April 2026, STRC's notional amount outstanding stands at over $5 billion, with strong 30-day average daily trading volume exceeding $260 million. The shares were recently quoted around $100.02.
### Context and Performance
This steady April rate follows a 25-basis-point increase to 11.5% announced for March 2026—the seventh straight hike at that time. The adjustment came amid volatility in Bitcoin prices and pressure on MSTR shares, underscoring STRC's role as a more stable income option in Strategy's ecosystem.
Investors have noted that distributions often carry significant return-of-capital (ROC) treatment for tax purposes, as the company currently reports no accumulated earnings and profits. While this can defer taxes for many investors, it also highlights that payouts are supported by Strategy's substantial Bitcoin holdings and cash reserves rather than traditional operating earnings.
Market observers describe STRC as part of Strategy's "Bitcoin flywheel"—issuing yield-bearing securities to fund more Bitcoin purchases, which in turn support the overall treasury value backing the preferred obligations. However, analysts caution that the perpetual nature, variable rate, and dependence on market appetite for new issuance introduce risks, especially in prolonged crypto downturns.
### Michael Saylor on STRC
In a recent appearance-style segment (as shown in CoinDesk coverage), Saylor emphasized the instrument's appeal as a high-yield, relatively low-volatility alternative to traditional fixed-income products or bank deposits.
Strategy continues to expand its Bitcoin treasury ambitions, with plans involving multiple layers of equity and preferred issuance. STRC remains a cornerstone of the income-focused portion of that strategy.
Disclosure: This article is for informational purposes only and does not constitute investment advice. Perpetual preferred securities like STRC carry risks including dividend variability, lack of maturity date, and dependence on the issuer's ability to continue payments. Investors should consult their own advisors and review official filings.

Rising U.S. real yields, especially on 10-year TIPS, pose a headwind to zero-yielding risk assets like Bitcoin.
Bitcoin is facing renewed pressure as U.S. real interest rates climb, with investors shifting toward assets that offer positive real returns in an environment where inflation expectations remain relatively contained.
### The Role of Real Yields
Real yields — the return on investments after adjusting for inflation — have been rising steadily, particularly on longer-duration Treasury Inflation-Protected Securities (TIPS). The 10-year TIPS yield has recently pushed higher, reflecting stronger demand for inflation-protected government debt.
Unlike traditional bonds, Bitcoin offers no yield. In periods of low or negative real rates, this hasn't been a major issue, as investors were willing to accept zero or negative real returns in exchange for Bitcoin’s potential for outsized capital appreciation. However, when real yields rise meaningfully, the opportunity cost of holding non-yielding assets increases.
"Higher real rates make cash and bonds more attractive relative to speculative assets," said one market analyst. "Bitcoin, being the quintessential zero-yield risk asset, tends to feel this pressure first."
### Market Impact So Far
Bitcoin’s price has shown signs of faltering in recent sessions, struggling to maintain momentum above key technical levels. While crypto markets have benefited from institutional adoption, ETF inflows, and broader macroeconomic tailwinds in recent years, the current environment is testing that resilience.
- Reduced Speculative Appetite: As real yields climb, retail and institutional investors may rotate capital into fixed-income products offering real returns.
- Strengthening Dollar: Rising real rates often support the U.S. dollar, which historically has an inverse relationship with Bitcoin and other risk assets.
- Liquidity Dynamics: Higher borrowing costs in real terms can tighten financial conditions, reducing leverage in crypto markets.
### Broader Macro Context
The surge in real yields comes amid mixed economic signals. While headline inflation has moderated from its 2022 peaks, core inflation remains sticky in certain sectors. The Federal Reserve’s policy path remains data-dependent, but markets are pricing in the possibility of fewer rate cuts than previously anticipated.
This shift has implications beyond crypto:
- Gold, another non-yielding asset, has also faced headwinds in recent weeks.
- Equities, particularly high-valuation growth stocks, are showing increased sensitivity to yield movements.
- Traditional bond markets are repricing as investors demand higher compensation for duration risk.
### What’s Next for Bitcoin?
Analysts are divided on the near-term outlook. Some argue that Bitcoin’s long-term narrative — digital scarcity, decentralized finance, and growing mainstream adoption — remains intact, and any weakness driven by macro factors could present a buying opportunity.
Others caution that sustained high real yields could prolong the consolidation phase or even trigger deeper corrections if risk sentiment deteriorates further.
"Bitcoin has matured as an asset class, but it’s not immune to classic macro forces," noted a crypto portfolio manager. "In a world where real money yields 2%+, the bar for speculative investments gets raised."
### Key Levels to Watch
- Support: $78,000 – $82,000 zone (psychological and technical support)
- Resistance: Recent highs near $90,000+
- Correlation Watch: Monitor the 10-year real yield closely; a break above 2.5% could accelerate pressure on BTC.
Investors are advised to stay attuned to upcoming U.S. economic data releases, including CPI, PPI, and employment figures, which will heavily influence real yield trajectories in the coming weeks.
This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry significant risk.

StraitsX, một công ty có trụ sở tại Singapore, đã chứng kiến sự tăng trưởng nhanh chóng trong chương trình thẻ stablecoin của mình, với khối lượng giao dịch tăng 40 lần và số lượng thẻ phát hành tăng 83 lần giữa năm 2024 và 2025.
Tại các thị trường sôi động và nền kinh tế số của Đông Nam Á, một cuộc cách mạng yên lặng đang diễn ra. Các khoản thanh toán được hỗ trợ bởi stablecoin đang trở nên liền mạch đến mức người dùng thường không nhận ra rằng họ đang sử dụng crypto. Ở phía sau, các nhà cung cấp hạ tầng như StraitsX có trụ sở tại Singapore đang biến các đường ray blockchain thành một lớp "vô hình" giúp thúc đẩy chi tiêu hàng ngày.

Washington state has joined a growing list of jurisdictions cracking down on prediction market platforms, filing a civil lawsuit against Kalshi accusing the company of operating an illegal online gambling service under the guise of “prediction markets.”
Washington Attorney General Nick Brown announced the lawsuit on March 27, 2026, claiming that Kalshi’s platform allows users to place bets on sports, elections, entertainment events, and thousands of other outcomes — activities that allegedly violate the state’s strict Gambling Act and Consumer Protection Act.
“Kalshi really is just a bookie with a fancy name,” Brown said in a statement. “Kalshi attempts to skirt state law by branding its betting platform as a ‘prediction market,’ but whatever Kalshi chooses to call it, Kalshi’s operations clearly fall under the definition of illegal gambling in Washington.”
The lawsuit, filed in King County Superior Court, seeks to shut down Kalshi’s operations in the state, recover money lost by Washington residents on the platform, and impose civil penalties.
### How Kalshi Works — and Why Washington Says It’s Gambling
Kalshi’s mobile app and website let users trade contracts on real-world events, where the payout depends on whether a specific outcome occurs. The state argues this structure mirrors traditional sportsbooks: users see events, odds, and potential payouts, which is “exactly how sportsbooks and other gambling operations function.”
The complaint highlights Kalshi’s own marketing, including an advertisement suggesting users could “bet on the NFL even though we live in Washington,” as evidence that the company knowingly targets residents in states with strict anti-gambling laws.
Kalshi has positioned itself as a financial innovation platform rather than a betting site, allowing users to “bet on anything” from election results to sports outcomes and even broader events. However, Washington officials reject this framing.
“Kalshi wants people betting on almost everything possible in life — the outcome of elections, Supreme Court cases, even wars,” Brown added. “It’s a lie, and it’s illegal.”
### Broader Context: Rising Regulatory Scrutiny
Washington’s action is the latest in a series of legal challenges facing prediction market operators in the United States. Several states have begun treating these platforms as unlicensed gambling operations, even as the industry argues it provides valuable information markets and hedging tools.
Kalshi, which has gained popularity for its election and sports contracts, has previously faced regulatory hurdles at both state and federal levels. The company maintains that its products are distinct from traditional gambling because they function more like event-based financial contracts.
In response to the lawsuit, Kalshi has pushed back, noting that the suit was filed just before a scheduled meeting with the Attorney General’s office. The company has disputed some characterizations, such as claims of offering “war markets.”
### What’s Next?
The civil suit emphasizes consumer protection. Under Washington law, individuals who lose money on illegal gambling activities may be entitled to recover their losses.
This case could have significant implications for the future of prediction markets in the U.S., especially as more states examine whether these platforms cross the line into regulated gambling territory.
The CoinDesk app screenshot in the story’s imagery highlights Kalshi’s presence on mobile devices, showing its “Trade the Big Game” branding and focus on sports, NFL, NBA, crypto, and tech events — precisely the type of offerings now under legal fire.
As the lawsuit progresses, the crypto and fintech communities will be watching closely to see whether prediction markets can survive increasing state-level pushback or if tighter regulations will reshape the industry.

The average public miner spent $79,995 to produce one bitcoin in Q4 2025. Bitcoin is currently trading around $66,000–$70,000. The math doesn’t work, so the industry is pivoting hard to AI, taking on more than $70 billion in contracts, and liquidating bitcoin treasuries to finance the shift.
Bitcoin mining has always been a high-stakes, capital-intensive business powered by cheap electricity, massive scale, and the belief that holding mined BTC would pay off in the long run. But in early 2026, the economics have turned decisively against pure-play mining.
According to CoinShares’ latest Bitcoin mining report for Q1 2026, the weighted average cash cost for publicly listed miners to produce one bitcoin reached approximately $79,995 in the previous quarter. With BTC trading near $70,000 (and dipping lower in recent sessions), many operations are running at a loss or barely breaking even. Hashprice has collapsed, older rigs are being powered down, and margins have shrunk to razor-thin levels—sometimes as low as a few hundred dollars per bitcoin mined.
This profitability crunch is accelerating a transformation that has been building for over a year: Bitcoin miners are repositioning themselves as AI and high-performance computing (HPC) infrastructure providers. Their data centers, power contracts, cooling systems, and land holdings—originally built for ASIC miners—are being repurposed or expanded to host GPUs and AI workloads for hyperscalers like Microsoft, Google, and others.
### Why the Pivot Makes Sense (For Now)
AI infrastructure offers operating margins of 80–90%, far more stable and predictable than the volatile revenue from Bitcoin block rewards and transaction fees. Miners already possess key advantages: access to low-cost or stranded energy, industrial-scale facilities, and expertise in managing dense computing environments with heavy power demands.
Cumulative AI and HPC contracts announced across the public mining sector now exceed $70 billion. Notable deals include:
- Core Scientific’s expanded partnership with CoreWeave, valued at over $10 billion.
- TeraWulf’s $12.8 billion in contracted HPC revenue.
- Hut 8’s $7 billion, 15-year lease for AI infrastructure.
- Multiple multi-billion-dollar agreements involving IREN, Cipher Digital (rebranded to emphasize HPC), and others.
Analysts at CoinShares project that AI could account for up to 70% of revenue for many listed miners by the end of 2026, up sharply from around 30% today. Some companies, like Bitfarms (now leaning heavily into AI and even rebranding elements of its identity), have publicly stated they are no longer purely Bitcoin companies.
### Selling the Treasury to Fund the Future
To bankroll this transition, miners are breaking from the long-held “HODL” ethos. Publicly listed miners collectively hold around 121,000 BTC (worth roughly $8–9 billion at current prices), but they have become net sellers.
- Over 15,000 BTC have been liquidated from peak treasury levels in recent months.
- Core Scientific sold ~1,900 BTC in January 2026 for about $175 million and plans to monetize substantially all of its remaining holdings in Q1.
- MARA Holdings sold 15,133 BTC in March for ~$1.1 billion, using proceeds to repurchase debt and gain flexibility for AI/HPC expansion.
- Other examples include Riot Platforms, Cango (which sold thousands of BTC to fund its pivot and even rebranded), Bitdeer (which emptied its treasury), and more.
This selling creates additional supply pressure on Bitcoin markets at a time when prices are already soft, but for the companies involved, it’s a strategic reallocation from a volatile asset to building higher-margin businesses.
### Risks and the Long-Term Outlook
The pivot is not without controversy. Critics argue that miners are trading Bitcoin’s long-term upside and network security contribution for short-term AI hype. If Bitcoin’s price recovers strongly, those who sold heavily may regret it. There are also execution risks: AI contracts depend on timely delivery of power capacity, GPU availability, and demand from big tech, which can be lumpy.
The industry is bifurcating. Some efficient, low-cost miners may stick closer to pure Bitcoin plays. Others are becoming hybrid data center operators. Debt loads are rising for many as they fund expansions via convertibles and notes, adding refinancing risk.
Yet the direction is clear: the infrastructure built for Bitcoin’s proof-of-work is proving highly adaptable to the AI boom. Miners that execute well could evolve from volatile crypto proxies into more stable infrastructure stocks with diversified revenue.
Whether this is a temporary survival tactic or a permanent identity shift will ultimately depend on Bitcoin’s price trajectory and the realized profitability of their AI ambitions. For now, the industry is voting with its capital—and its bitcoin sales—that the future looks brighter in AI data centers than in pure mining alone.
The image attached to the original post captures the essence perfectly: rows of humming ASIC miners in a dimly lit facility, with a technician maintaining the hardware. Soon, many of those racks may house GPUs instead, powering the next wave of artificial intelligence.
This article is for informational purposes only and does not constitute financial advice.

Czar AI và Crypto của Nhà Trắng David Sacks cho biết vào thứ Năm rằng ông sẽ gia nhập Hội đồng Cố vấn của Tổng thống về Khoa học và Công nghệ và rời khỏi vai trò czar.
WASHINGTON — David Sacks, Czar AI và Crypto của Nhà Trắng, đã thông báo vào thứ Năm rằng ông sẽ từ chức khỏi vị trí “czar” nổi bật của mình để đảm nhận một vai trò mới trong Hội đồng Cố vấn của Tổng thống về Khoa học và Công nghệ (PCAST).
Trong một tuyên bố, Sacks cho biết động thái này phù hợp với các ưu tiên của chính quyền nhằm tích hợp chính sách công nghệ tiên tiến trực tiếp vào các kênh tư vấn cấp cao.

The yield agreement, seen as a step toward finally advancing the stalled market structure bill, hasn't yet fully won industry support.
WASHINGTON — A hard-fought compromise on the long-awaited cryptocurrency market structure legislation has elicited a sharply divided response across the digital asset industry, with key players voicing everything from cautious optimism to outright skepticism.
The agreement, which aims to resolve sticking points around the classification of digital assets as securities or commodities, is being viewed by some as a critical breakthrough that could finally push the stalled bill forward in Congress. However, it has yet to secure broad-based endorsement from the crypto sector, highlighting the deep fractures within what has often been portrayed as a unified industry.
### Mixed Reactions from Industry Leaders
Prominent voices in the crypto space have taken to social media and public statements to weigh in on the development. Supporters argue that the compromise represents a pragmatic step toward regulatory clarity, which many believe is essential for institutional adoption and long-term growth of the sector.
"This is progress, even if imperfect," said one industry executive who requested anonymity due to ongoing negotiations. "We've been waiting years for clear rules of the road. This gets us closer to a framework that distinguishes between decentralized protocols and centralized intermediaries."
Critics, however, contend that the yield agreement concedes too much ground on issues such as decentralized finance (DeFi) oversight and stablecoin regulation. Some fear it could impose burdensome compliance requirements that might stifle innovation, particularly for smaller projects and decentralized applications.
A notable segment of the community has expressed frustration over what they see as a "watered-down" version of earlier proposals. "This isn't the comprehensive market structure bill we needed," tweeted one influential crypto commentator. "It's a patchwork that protects incumbents while leaving retail users and innovators exposed."
### Background on the Market Structure Bill
The cryptocurrency market structure bill has been in development for several years, with multiple iterations failing to gain sufficient traction in Congress. The legislation seeks to establish a clear regulatory regime for digital assets, addressing key areas such as:
- Asset Classification: Clear guidelines on when a digital token qualifies as a security versus a commodity.
- Decentralized Finance (DeFi): Rules governing lending protocols, decentralized exchanges, and yield-generating products.
- Stablecoins: Oversight and reserve requirements for dollar-pegged tokens.
- Market Integrity: Measures to prevent manipulation, fraud, and ensure fair trading practices.
Proponents of the bill argue that without such a framework, the United States risks falling behind global competitors like the European Union (which has implemented MiCA) and Singapore in attracting crypto businesses and talent.
### Path Forward Uncertain
While the yield agreement marks a potential thawing of the legislative stalemate, significant hurdles remain. Lawmakers from both parties continue to debate the scope of the bill, with concerns ranging from investor protection to national security implications of crypto.
Industry groups are expected to ramp up lobbying efforts in the coming weeks as the bill moves through committee stages. Some analysts predict that further amendments may be necessary to bridge the divide between pro-innovation factions and those prioritizing stricter consumer safeguards.
The fractured response underscores a broader reality in the crypto industry: while there is near-universal agreement on the need for regulatory clarity, consensus on the specifics remains elusive.
As one veteran observer put it: "The crypto crowd isn't a monolith. This compromise is a mirror reflecting our own divisions — between maximalists and pragmatists, between those building infrastructure and those focused on financial freedom."
The article will continue to evolve as more details emerge from Capitol Hill and as reactions from major players like Coinbase, Binance.US, and decentralized protocol developers continue to pour in.
Stay tuned for updates as this story develops.

Tận dụng cơn sốt tiền điện tử để trở thành một trong những cổ phiếu nóng nhất năm 2025, HOOD đã mất hơn 50% giá trị kể từ khi Bitcoin đạt đỉnh vào đầu tháng 10.
Robinhood Markets (NASDAQ: HOOD) thông báo vào ngày 24 tháng 3 rằng hội đồng quản trị của họ đã phê duyệt một chương trình mua lại cổ phiếu mới trị giá 1,5 tỷ đô la, mở rộng đáng kể khả năng của công ty trong việc mua lại cổ phiếu của chính mình giữa một đợt giảm giá cổ phiếu mạnh.
Sự ủy quyền mới thay thế các chương trình trước đó và bổ sung hơn 1,1 tỷ đô la vào khả năng mua lại bổ sung. Ban lãnh đạo kỳ vọng sẽ thực hiện các giao dịch mua lại trong khoảng ba năm, bắt đầu từ quý đầu tiên của năm 2026, mặc dù công ty không bắt buộc phải mua bất kỳ số lượng cổ phiếu cụ thể nào hoặc hoàn thành chương trình trong một khoảng thời gian nhất định.

Ngành công nghiệp tiền điện tử đã có cái nhìn đầu tiên về ngôn ngữ lập pháp không cho phép phần thưởng trên số dư stablecoin, và cách tiếp cận này được xem là hạn chế.
WASHINGTON — Đạo luật Rõ Ràng Thị Trường Tài Sản Kỹ Thuật Số (thường được gọi là Đạo luật Rõ Ràng) đã có một bước tiến đáng kể với ngôn ngữ mới về phần thưởng stablecoin, rõ ràng cấm thanh toán chỉ để nắm giữ số dư, theo các nguồn quen thuộc với bản nháp văn bản mới nhất.
Thỏa thuận, được đạt được về nguyên tắc vào tuần trước bởi các Thượng nghị sĩ Angela Alsobrooks (D-MD) và Thom Tillis (R-NC) với sự hỗ trợ của Nhà Trắng, vạch ra một ranh giới rõ ràng: lợi tức thụ động trên các khoản nắm giữ stablecoin không hoạt động bị cấm, trong khi các phần thưởng dựa trên hoạt động liên kết với việc sử dụng thực tế — chẳng hạn như thanh toán, chuyển khoản, hoạt động trên nền tảng, hoặc chương trình khách hàng thân thiết — vẫn được phép.

Ủy ban Chứng khoán và Giao dịch Hoa Kỳ (**SEC**), phối hợp với Ủy ban Giao dịch Hàng hóa Tương lai (**CFTC**), đã phát hành hướng dẫn giải thích chung mang tính đột phá nhằm làm rõ cách thức các luật chứng khoán liên bang áp dụng cho tiền điện tử và các tài sản liên quan. Phát triển này, được công bố vào ngày 17 tháng 3 năm 2026, và được đề cập trong các báo cáo gần đây (bao gồm một bài viết của CoinDesk có ngày 22 tháng 3 năm 2026), nhằm chấm dứt nhiều năm không chắc chắn về quy định trong không gian crypto bằng cách cung cấp một khung rõ ràng hơn để xác định xem một loại tiền điện tử có đủ điều kiện để được coi là chứng khoán hay không.