David Marcus, former PayPal President and current CEO of Lightspark, announced the launch of Spark, a new Bitcoin Layer-2 solution compatible with the Lightning Network.

Unveiled at Lightspark’s first partner summit, Lightspark Sync, Spark enables non-custodial use of Bitcoin and stablecoins, enhancing transaction speed and cost-efficiency.

The platform builds on Lightspark’s Universal Money Address (UMA) standard, introducing features like tipping, subscriptions, and invoicing over Lightning, while also integrating with legacy banking systems for broader accessibility.

Marcus aims to position Bitcoin as a global settlement layer, addressing Lightning’s complexity and reliability issues to make it enterprise-grade for institutions and banks.

🇺🇸 JUST IN: The Federal Reserve has withdrawn its guidance for banks on crypto-asset and dollar token activities.

This may open the door for more bank involvement in both stablecoins and broader crypto services.

🔁 Bitcoin's Evolution: From Digital Gold to Economic Backbone 💥

Bitcoin isn't just a buzzword anymore — it's a movement that reshaped finance. From humble beginnings to becoming a cornerstone of modern economies, here's how it all unfolded:

📜 2009–2012: The Genesis Era
➡️ A decentralized idea was born. Mostly a niche experiment among cypherpunks and tech enthusiasts.

🏆 2013–2017: The Digital Gold Era
➡️ Seen as a store of value. The “digital gold” narrative took off. Hodlers were born.

🌪️ 2017–2021: Financial Disruption Era
➡️ Bitcoin challenged traditional finance. DeFi emerged. Mainstream media took notice.

🏦 2022–Present: Institutional Adoption Era
➡️ Big money arrived. ETFs approved. Banks and governments can’t ignore it anymore.

🔗 From a whitepaper to Wall Street — Bitcoin's journey is far from over.

#bitcoin #crypto #BTC #Blockchain #FinancialRevolution #digitalgold #CryptoHistory

$368.3 billion in crypto assets were under custody by 29 banks in Q2 2024.

Banks Reduce Direct Crypto Exposure, Favor Regulated Exchange-Traded Products

Banks Poised to Reenter Digital Asset Market in 2025

This development marks a strategic shift after years of cautious involvement in the cryptocurrency space.

Current Market Context:
1. Total cryptocurrency market capitalization exceeds $3.7 trillion
2. Bitcoin constitutes over half of the total cryptocurrency market value.
3. Spot Bitcoin ETFs have seen remarkable growth, with BlackRock's iShares Bitcoin Trust reaching $50 billion in assets under management in just 227 trading days

#banks #DigitalAssets #cryptocurrency #bitcoin #blackrock

Swiss National Bank Rejects #bitcoin Reserves Proposal

According to CoinDesk, Swiss National Bank (SNB) President Martin Schlegel has dismissed the idea of incorporating bitcoin into Switzerland's central bank reserves. Schlegel highlighted concerns over the cryptocurrency's volatility, liquidity, and security as primary reasons for this decision. In an interview with the Tamedia group, he emphasized that the instability of #cryptocurrencies makes them unsuitable for preserving long-term value.

Schlegel further explained that the central bank's reserves must remain highly liquid to be readily available for monetary policy interventions. He also pointed out the inherent security risks associated with software-based assets, noting that software can be prone to bugs and vulnerabilities. These remarks come amid a broader discussion in Switzerland regarding the potential inclusion of Bitcoin in the SNB's reserves.

A recent initiative, spearheaded by entrepreneur Yves Bennaim, is advocating for a constitutional amendment that would require the SNB to hold bitcoin alongside gold in its reserves. This initiative, launched in December, aims to gather 100,000 signatures within 18 months to prompt a nationwide vote on the matter. While the proposal does not specify the exact bitcoin allocations, it suggests that the reserves should be built from the bank's earnings.

Despite the increasing acceptance of cryptocurrencies in Switzerland, with several Swiss banks offering cryptocurrency-related services, Schlegel remains skeptical.

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Banks are closed today.

#bitcoin never closes.