Another Elon Mystery
Elon Musk teased a new chat service on X that will add encryption, disappearing messages, file-sharing, and voice/video calls. Notably, he said the new system is “built on Rust with (bitcoin-style) encryption.” That phrase of course lit up Crypto Twitter, but so far there’s no detail on whether the chat layer actually touches Bitcoin tech, or if Musk just means standard public-key cryptography. BTC prices didn’t budge, and early critics see it more as a marketing ploy than a tech breakthrough. Read more →
Defense Tech Stablecoins?
Sources tell Axios that Palmer Luckey (the Oculus founder now running defense giant Anduril) is leading a new round for Atticus, a stealthy stablecoin startup. Haun Ventures is already on the cap table, and the deal is said to value Atticus at $1.5-$2 billion – putting it on track to become 2025’s first stablecoin unicorn before it even launches a product or website. Read more→
DOL pulls its “extreme-care” warning on crypto in 401(k)s
The Labor Department has scrapped a 2022 compliance bulletin that potentially scared fiduciaries away from offering bitcoin or other crypto options in 401(k)s. The old guidance told employers to use “extreme care,” a phrasing critics said went beyond Employee Retirement Income Security Act’s neutral, principles-based rules. Read more→
