MERGE
CONFLICT
DIGEST
Thursday, September 11, 2025
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Markets & Trading 📊
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Saylor Academy founder Brian Saylor's proposed Bitcoin treasury strategy is gaining traction among large institutions as a way to diversify portfolios and mitigate risk in volatile markets. Several global corporations, including Microsoft and IBM, are considering similar strategies, but some report significant premiums associated with buying cryptocurrencies at retail prices.
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Metaplanet plans to raise $1.38 billion through an overseas share offering, with most funds allocated to expanding its Bitcoin holdings and hedging against yen depreciation and inflation. The company aims to increase its Bitcoin reserves to 50,000 BTC by year-end, providing long-term value growth and protecting assets from negative real interest rates in Japan.
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Bitcoin's price nears $111K ahead of the US Federal Reserve's September meeting and August inflation data release, signaling a calm market. Traders anticipate a potential 25-basis-point rate cut, with prediction markets favoring this outcome. Markets often exhibit calm behavior before significant moves, with investors watching gold prices and record-high US stocks closely, awaiting volatility returns.
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Dogecoin is poised to enter the US ETF market with the launch of the Rex-Osprey DOGE ETF, a first for a purely speculative token. Institutional investors are investing, calling it a "watershed moment" in financial history due to its unique cultural significance and accessibility. The approval signifies broader recognition of Dogecoin's value.
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Blockchain Technology & Development đź”—
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Coinbase has been quietly building its empire by lending credit lines to Bitcoin miners, collateralized by Bitcoin, a masterful move that redefines the rules of the game and diversifies revenue streams. This approach balances centralized and decentralized infrastructures, solidifying Coinbase's position as an essential institutional hub with stable financing options.
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Cardano's Hoskinson has invested $200 million in a Wyoming clinic using AI and blockchain tech to revolutionize healthcare with a patient-first model where care is provided without cost worries. The clinic aims to address the US healthcare system's "broken" incentives by prioritizing long-term planning over profit, fostering personalized and scalable care.
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Regulation & Compliance ⚖️
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Research indicates Bitcoin’s price isn’t solely dictated by the U.S. money supply. This study, spanning 2009 to early 2025, reveals a fluctuating connection, influenced by broader economic conditions. The analysis suggests Bitcoin’s behavior is complex and doesn’t consistently mirror assets like gold or the S&P 500.
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The Scroll DAO has paused its governance due to leadership resignations, aiming to restructure its framework and rebuild community trust. Despite underlying technology development, the suspension creates uncertainty. The DAO’s leadership is prioritizing transparency as it navigates this period of instability, focusing on a revised governance model for SCR token holders.
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Institutional & Business 🏢
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A potential Bitcoin ETF launch in September could spark a significant buying wave, driven by Fed rate cuts of 75-100 basis points in 2025. Institutional interest in Ethereum and Solana is rising, while stablecoins like Ethena gain traction, with new Dogecoin ETFs set to launch amid regulatory changes and US sanctions impacting the industry.
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DeFi & Protocols đź’±
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Tesla executive Dan Ives has become chair of Eightco Holdings, a small publicly traded company focused on accumulating cryptocurrency. This move is part of a trend seen among digital asset treasury companies, signaling trustworthiness to Wall Street investors and offering exposure to lesser-known tokens like Worldcoin, linked to Sam Altman's OpenAI project.
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Nepal's social media ban sparked a surge in downloads of Jack Dorsey's decentralized messaging service Bitchat, with a significant increase compared to a similar protest in Indonesia earlier. The service offers censorship-resistant messaging via Bluetooth mesh networks, making it an attractive solution for those seeking free speech amidst government suppression efforts online.
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The cryptocurrency market is shifting towards owning blockspace, rather than mining Bitcoin, due to its increasing valuation and limited resources. This has led to a new focus on controlling this "new oil" essential for the functioning of a global economic engine, sparking concerns about centralized control and emerging geopolitical conflicts.
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Security & Privacy đź”’
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The Pohlig-Hellman algorithm, described in a recent article, efficiently computes discrete logarithms in finite fields. Developed in 1978, it utilizes prime factorization and is particularly useful with "unsafe primes." This technique aids in addressing the Discrete Logarithm Problem, crucial for enhancing password security and encryption methods.
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Published by Merge Conflict Digest
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