Bitcoin MagazineJeff Booth: Why $1 Million BTC is Thinking too SmallIs a $1 million Bitcoin price target thinking too small? Jeff Booth thinks so, and he explains why valuing Bitcoin in dollars means pricing it from a game that’s rigged by debasement. He argues that Bitcoin isn’t just a coin or an asset, but the beginning of a decentralized, secure, and private protocol stack that will look a lot like the internet. In his view, Bitcoin is evidence of the first free market that has ever existed.Chapters:0:00 Jeff Booth, The Price of Tomorrow & Technological Deflation0:30 AI Valuations & Why Free Markets Push AI Prices Toward Zero1:29 AI Deflation vs the Debt-Based Monetary System2:38 $40 Trillion US Debt, Bond Yields & the $350 Trillion Insolvent System4:06 AI Singularity Claims, Fear & Monopoly Regulation6:50 Productivity & Bitcoin’s True Value in a Deflationary Future8:43 Why a $1 Million Bitcoin Price Target Is Thinking Too Small10:11 Bitcoin Adoption Timeline & Why Bitcoin Isn’t Just an Asset12:38 Bitcoin Payments & Circular Economies Scaling Worldwide13:49 Bitcoin-Backed Private Equity & Owning Businesses ForeverDISCLAIMER: The views and opinions expressed in this show are those of the participants and do not necessarily reflect the official policy or position of BTC Inc., Bitcoin Magazine, or any affiliated entities. This content is provided for informational and educational purposes only and should not be construed as investment, legal, tax, or accounting advice. Nothing contained in this show constitutes a solicitation, recommendation, endorsement, or offer to buy or sell any securities or financial instruments. Viewers should consult their own advisors before making financial or business decisions.This postJeff Booth: Why $1 Million BTC is Thinking too Smallfirst appeared onBitcoin Magazineand is written byPatrick Green.

Written by Sam Bourgi staff writer Reviewed by Robert Lakin staff editor Written by Sam Bourgi staff writer Reviewed by Robert Lakin staff editor Bitwise launches first Lighter ETP amid Hyperliquid rivalry Latest News Published Sep 23, 2026 The product gives European investors brokerage access to the LIT token as Bitwise expands its lineup of products tied to decentralized derivatives platforms. Bitwise Asset Management has launched an exchange-traded product (ETP) in Europe tracking Lighter, giving traditional investors a way to bet on one of Hyperliquid’s emerging rivals without buying its token directly. On Wednesday, Bitwise said its Bitwise Lighter Staking ETP (BLIT) had launched on Deutsche Börse Xetra, making it the first exchange-traded product tracking LIT, the native token of decentralized derivatives platform Lighter. The product is fully backed by LIT held in cold storage and carries a 0.85% annual expense ratio. European investors can buy the ETP through a regular brokerage account without buying or holding LIT directly. Despite its name, BLIT isn’t generating staking rewards yet. Bitwise said staking will begin once the product reaches enough assets under management to make the process efficient. Until then, the ETP will track LIT’s price without generating staking returns. The Lighter product follows Bitwise’s launch of a Hyperliquid staking ETP in Europe in April, as the asset manager expands its lineup to include tokens tied to some of the largest decentralized derivatives platforms. Lighter is an Ethereum-based decentralized exchange focused on perpetual futures, using zero-knowledge proofs to verify trades while allowing users to retain control of their assets rather than depositing them with a centralized exchange. The platform also offers zero-fee trading for retail users, part of its effort to compete with established decentralized derivatives platforms such as Hyperliquid. Lighter recorded nearly $1.8 billion in trading volume over the past 24 hours, according to CoinGecko data . Related: Bitcoin will get ‘lift’ from Hyperliquid, Robinhood in next crypto bull market: Bitwise exec Lighter takes on the perp market leader Lighter gained a major distribution channel in July when Robinhood integrated the exchange into Robinhood Chain, its Ethereum layer-2 network. Eligible Robinhood Wallet users can trade perpetual futures through Lighter, with trades settled using Lighter smart contracts on Robinhood Chain. Hyperliquid remains the much larger player. Unlike Lighter, which operates as an Ethereum layer-2, Hyperliquid runs on its own layer-1 blockchain. It controlled more than 61% of decentralized perpetual futures trading, according to data cited by The Motley Fool, and has continued to expand through its own partnerships. In May, Circle announced a deal to expand USDC usage on Hyperliquid, including deeper liquidity and easier transfers of the stablecoin across blockchains. At the time, roughly $5 billion in USDC was held on Hyperliquid, according to Coinbase. Magazine: HYPE price could suffer as Binance takes its revenue: Alice Liu Subscribe to daily byte-sized crypto news from Cointelegraph Subscribe Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently. Decentralized Exchange Hyperliquid Robinhood Investments More on the subject Zcash gets first European ETP following US ETF launch Sep 22, 2026 Sam Bourgi Grayscale’s Zcash ETF files for 3-for-1 forward share split Sep 20, 2026 Michael Millard Stablecoin payments firm dtcpay closes $25M round with SBI backing Sep 18, 2026 Ezra Reguerra Zcash gets first European ETP following US ETF launch Sep 22, 2026 Sam Bourgi Grayscale’s Zcash ETF files for 3-for-1 forward share split Sep 20, 2026 Michael Millard Stablecoin payments firm dtcpay closes $25M round with SBI backing Sep 18, 2026 Ezra Reguerra

Bitcoin MagazineSEC Commissioner Hester ‘Crypto Mom’ Peirce Advocates Privacy-Preserving TechOutgoing Securities and Exchange Commission CommissionerHester Peircehas said that regulators should rethink how they monitor the financial system, and to press for less personal data collection, not more.In a speech Wednesday focusing on digital identity systems and decentralized networks, Peirce took aim at know-your-customer and anti-money-laundering rules.U.S. regulators are now racing ahead with crypto rulemaking. Peirce, who earned the nickname “crypto mom” for her friendly approach to watchdogging the space, is set to leave the SEC in November.“Today society is at a crossroads,” Peircesaidat the SIFMA’s Digital Assets Conference in New York.“Down one path lies the status quo: more data collection, more intermediary surveillance, more ‘know your customer’ requirements that turn our financial rails into a panopticon.”“Down the other path lies an opportunity to use new technologies to improve our ability to catch criminals while collecting less personal information than ever before, and monitoring more sparingly to protect Americans’ privacy.”Peirce argued that piling up ever more data on law-abiding customers to help find criminals doesn’t work. In her view, bigger “haystacks” make the needles harder to find, while every stored data point raises the risk of leaks or misuse.She criticized a regulatory mindset fixated on “data go up,” comparing it to crypto enthusiasts’ obsession with rising prices.Peirce pointed to cryptographic tools such as zero-knowledge proofs and attribute-based credentials, which can confirm facts like a person’s age, accredited-investor status, or absence from sanctions lists without revealing the underlying personal details.She also urged the SEC to let firms rely on identity checks already performed by other regulated institutions, rather than making every firm collect and store the same sensitive information.Under President Joe Biden, the SEC was tough on the crypto space, with its Biden-appointed former Chair Gary Gensler frequently suing major crypto companies for allegedly selling unregistered securities.Peirce was appointed to lead the Crypto Task Force in 2025. The regulator has taken a far more friendly approach to watchdogging the space since Donald Trump became president again.Now, regulators are saying they want to create clear rules for the fast-moving industry, despite landmark legislation, theClarity Act, being blocked last week.Despite Commissioner Peirce’s alias, she previously said she would not describe herself as an advocate of the industry, but rather a “freedom maximalist.”This postSEC Commissioner Hester ‘Crypto Mom’ Peirce Advocates Privacy-Preserving Techfirst appeared onBitcoin Magazineand is written byMathew Di Salvo.

Written by Ezra Reguerra staff writer Reviewed by Robert Lakin staff editor Written by Ezra Reguerra staff writer Reviewed by Robert Lakin staff editor EU banking watchdog calls for crypto lending rules under MiCA Latest News Published Sep 24, 2026 The EBA outlined potential rules for crypto lending and firms providing access to DeFi protocols as part of the European Commission’s MiCA review. The European Banking Authority (EBA) has called for crypto lending to be brought under the European Union’s Markets in Crypto-Assets (MiCA) framework as regulators consider potential changes to MiCA. In a response to the European Commission’s (EC) targeted consultation on MiCA, the EBA said crypto borrowing and lending should be regulated, including where crypto asset service providers facilitate access to decentralized finance (DeFi) lending protocols. The regulator recommended that the EC conduct a cost-benefit analysis of legislative changes that could add intermediating crypto borrowing and lending to the list of services regulated under MiCA, potentially adding specific compliance requirements and oversight activity. It also suggested requirements for crypto firms that provide clients access to DeFi lending protocols. The EBA outlined potential measures including suitability tests for users, leverage limits and additional disclosure requirements. The regulator also raised the possibility of restricting access to lending involving asset-referenced or e-money tokens that require MiCA authorization and introducing a certification regime for DeFi lending protocols. The EBA said crypto lending is growing across the bloc, citing previous research showing borrowing and lending activities in at least 16 EU member states. It said easier access to DeFi through crypto firms and artificial intelligence tools is increasingly blurring the boundary between centralized and decentralized finance. The recommendations form part of the EBA’s broader input into the Commission’s review of MiCA, which also covers stablecoin rules, crypto-asset classification and reporting requirements. Related: EU watchdogs warn quantum computers could pick crypto’s locks Subscribe to daily byte-sized crypto news from Cointelegraph Subscribe Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently. European Union Europe Policy Banks Regulation More on the subject US weighs overseas push for dollar-backed stablecoins: Bloomberg 6 hours ago Ezra Reguerra Ex-SEC acting chair: Agency dropped crypto cases to avoid issues with credibility 13 hours ago Turner Wright US lawmakers from gaming states urge SCOTUS to take up Kalshi case 14 hours ago Turner Wright US weighs overseas push for dollar-backed stablecoins: Bloomberg 6 hours ago Ezra Reguerra Ex-SEC acting chair: Agency dropped crypto cases to avoid issues with credibility 13 hours ago Turner Wright US lawmakers from gaming states urge SCOTUS to take up Kalshi case 14 hours ago Turner Wright

Written by Nate Kostar staff writer Reviewed by Sam Bourgi staff writer Written by Nate Kostar staff writer Reviewed by Sam Bourgi staff writer DoubleZero brings dedicated fiber market data to Hyperliquid traders Latest News Published Sep 24, 2026 DoubleZero launched a dedicated fiber market data feed for Hyperliquid, giving professional trading firms faster access to its full order book. DoubleZero has launched a dedicated market data feed for Hyperliquid, giving professional trading firms access to the decentralized exchange’s full order book over fiber rather than through its public APIs. The feed includes Hyperliquid’s native perpetual futures and markets operated by trade[XYZ], which uses Hyperliquid’s infrastructure to offer perpetual contracts tied to assets including oil, gold and silver. The Hyperliquid feed was developed with validator operators and ecosystem partners including Hyperion DeFi, MAVAN and Kinetiq. DoubleZero said the service delivers a continuous, ordered stream of market data for market makers, quantitative trading firms, and proprietary trading firms that need faster, more consistent order book updates. Previously, firms seeking a complete view of Hyperliquid’s order book had to assemble the data themselves through public API responses or operate their own Hyperliquid nodes. DoubleZero said changes to Hyperliquid’s public APIs have reduced the frequency and depth of updates available through them. DoubleZero operates a global fiber network designed to move data quickly between participants in blockchain networks and other distributed systems. Hyperliquid is the third venue available through its Edge market-data service, following Solana and prediction market Kalshi. Related: Bitwise launches first Lighter ETP amid Hyperliquid rivalry Onchain market infrastructure starts to resemble traditional exchanges Hyperliquid’s market data infrastructure is beginning to resemble what traditional electronic exchanges use as professional trading moves onchain, according to Hyperion DeFi CEO Hyunsu Jung. Jung told Cointelegraph that CME, Nasdaq and other major exchanges distribute professional market data over dedicated networks, allowing automated trading firms to receive a consistent stream of ordered data at high speeds. “Hyperliquid data can now be consumed through the same basic model: publish once, distribute simultaneously over dedicated fiber,” he said. However, significant differences remain. Traditional exchanges allow trading firms to place their systems close to the infrastructure that processes trades, while Hyperliquid executes trades onchain. DoubleZero’s service only delivers market data; it does not place or execute trades for firms. “So the convergence is not Hyperliquid becoming CME,” Jung said. “It is onchain markets adopting the market-data infrastructure that professional trading firms already use.” “It does not eliminate latency differences,” Jung said. “A firm in Tokyo will still have a physical advantage over one in New York.” Magazine: Kyle Samani predicts SOL flippening, claims ‘no one’ uses ETH Subscribe to daily byte-sized crypto news from Cointelegraph Subscribe Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently. Hyperliquid Data Data Exchange Futures CME Industry More on the subject Here’s what happened in crypto today 26 minutes ago Sam Bourgi Solana Foundation hires ex-Binance CMO and payments exec as new partnerships expand 7 hours ago Yohan Yun Era of pure crypto exchanges is ending, Bybit CEO says 8 hours ago Helen Partz Here’s what happened in crypto today 26 minutes ago Sam Bourgi Solana Foundation hires ex-Binance CMO and payments exec as new partnerships expand 7 hours ago Yohan Yun Era of pure crypto exchanges is ending, Bybit CEO says 8 hours ago Helen Partz

Written by Ezra Reguerra staff writer Reviewed by Yohan Yun staff editor Written by Ezra Reguerra staff writer Reviewed by Yohan Yun staff editor Institutions held crypto through 50% drawdown, Bitwise finds Markets Published Sep 24, 2026 Every institution interviewed that owned crypto held Bitcoin, usually as its largest asset; some set exit conditions for Ether and Solana. None of the 15 institutions interviewed by asset manager Bitwise cut their crypto allocations during a roughly 50% market drawdown, while several bought more. Every institution in the group that owned crypto held Bitcoin (BTC), usually as its largest and longest-held position, while Ether (ETH) and Solana (SOL) were smaller bets with shorter investment horizons and conditions for selling. Bitwise’s Institutional Crypto Adoption Report draws on interviews conducted in late March and April amid a market decline that began in October 2025. The interviews included investment professionals at endowments, foundations, public pensions, sovereign wealth funds, multi-family offices, investment consultants and public companies. When asked what could prompt them to sell, none of the institutions cited falling prices. Instead, respondents pointed to a regulatory reversal, an industry-wide credibility crisis or a failure of their investment thesis. Some said they would sell Ether or Solana if growth in network use failed to benefit the tokens. Related: Bitwise launches first Lighter ETP amid Hyperliquid rivalry Crypto allocations among those with exposure ranged from 0.5% to 13% of investable assets, though most were between 1% and 2%. Bitwise said almost every institution interviewed either used spot crypto exchange-traded funds or planned to, with some investors shifting from private placements or direct custody toward ETFs. A 13F data report from CoinShares published in June found that professional investors’ reported US spot Bitcoin ETF exposure fell 17% in the first quarter. Hedge funds and brokerages accounted for roughly 96% of the reduction, while banks added exposure. Bitcoin leads institutional conviction as ETH, SOL face ‘prove it’ test For almost all the Bitcoin holders interviewed, it was their first, largest and longest-held crypto asset. Most treated BTC as a store of value, often alongside gold. Conviction around ETH and SOL was less consistent. Several institutions said they could exit ETH or SOL over the next few years if growth in areas such as stablecoins, decentralized finance and tokenization failed to translate into value accruing to the assets themselves. One institution that held neither Ether nor Solana had used DeFi applications extensively but saw no clear way that activity would benefit the underlying tokens, according to Bitwise. Magazine: Winners and losers of the SEC’s new tokenized stocks rules Subscribe to daily byte-sized crypto news from Cointelegraph Subscribe This article is produced in accordance with Cointelegraph's Editorial Policy and is intended for informational purposes only. It does not constitute investment advice or recommendations. All investments and trades carry risk; readers are encouraged to conduct independent research. Data ETF Solana Ethereum Price Bitcoin Analysis Markets Investments More on the subject Trump reveals up to $100K Strategy stock purchase in ethics filing 14 hours ago Nate Kostar Bitwise launches first Lighter ETP amid Hyperliquid rivalry 17 hours ago Sam Bourgi Zcash gets first European ETP following US ETF launch Sep 22, 2026 Sam Bourgi Trump reveals up to $100K Strategy stock purchase in ethics filing 14 hours ago Nate Kostar Bitwise launches first Lighter ETP amid Hyperliquid rivalry 17 hours ago Sam Bourgi Zcash gets first European ETP following US ETF launch Sep 22, 2026 Sam Bourgi