Blockspace Podcast: Why Most Bitcoin Treasury Companies Are Struggling — and the One That's Getting It Right

Jack Dorsey says middle managers will be replaced by AI. Block CEO Jack Dorsey argues that his company's decision to cut approximately 40% employees was not a cost reduction but a permanent restructuring to replace middle managers with AI. But current and former Block employees are pushing back, saying that roughly 95% of AI-generated code changes still require human modification. CoinDesk's Jennifer Sanasie hosts "CoinDesk Daily." - This episode was hosted by Jennifer Sanasie. “CoinDesk Daily” is produced by Jennifer Sanasie and edited by Victor Chen.

Google warns of quantum threat to bitcoin. Google’s Quantum AI team released a new whitepaper revealing that Bitcoin’s security could be compromised with significantly less computing power than previously assumed. The report suggests that it might only take 500,000 to crack the network and Bitcoin’s own Taproot upgrade might have made it easier to target transactions in real time. CoinDesk's Jennifer Sanasie hosts "CoinDesk Daily." - Nexo is the premier digital wealth platform. Receive interest on your crypto, borrow against it without selling, and trade a range of assets. Now available in the U.S with 30 days of exclusive privileges. Get started at https://nexo.com/coindesk. - This episode was hosted by Jennifer Sanasie. “CoinDesk Daily” is produced by Jennifer Sanasie and edited by Victor Chen.

Google is moving up their timeline for quantum readiness, and Elizabeth Warren has her sights set on the Trump family’s business dealings with Bitmain. Get your tickets to OPNEXT 2026 before prices increase! Join us on April 16 in NYC for technical discussions, investor talks, and intimate conversation with the brightest minds in Bitcoin. Welcome back to The Blockspace Podcast! Today, Marty Bent joins us to talk about the legislative "horse trading" behind-the-scenes with the PARITY and CLARITY Acts and why Bitcoin de minimis tax exemptions are being sidelined for stablecoins. Plus, Jameson Lopp breaks down the creeping influence of AI agents on our digital security, and Alex Pruden of Project Eleven touches on the looming technical challenge of quantum computing on Bitcoin’s cryptography. We also cover Bitdeer’s 180MW AI expansion in Norway, Elizabeth Warren's latest attacks on Bitmain, and how Cash App is enabling default Bitcoin payments for millions of US merchants. Subscribe to the newsletter! https://newsletter.blockspacemedia.com Notes: * Bitdeer targeting Dec 2026 for 180MW Norway AI data center. * 55.62% of Bitcoin holders are currently in profit. * BTC Realized losses are the worst since 2023. * Cash App enables BTC payments for millions. * PARITY Act draft excludes BTC tax exemptions. * Project Red Sunset: fact or fiction? Timestamps: 00:00 Start 03:10 Square terminals accept Bitcoin by default 07:17 BTC holders in loss 13:43 Marty Bent 31:19 Jameson Lopp 50:18 Alex Pruden 1:05:12  Bitdeer building AI data center Norway 1:10:45 Warren targets Bitmain as security threat 👉CleanSpark CleanSpark (Nasdaq: CLSK) is a market-leading data center developer with a proven track record of success. We own a portfolio of power, land, and data centers across the United States powered by globally competitive energy prices. Sitting at the intersection of Bitcoin, energy, operational excellence and capital stewardship, we optimize our infrastructure to deliver superior returns to our shareholders. Monetizing low-cost, high reliability energy by producing a global emerging critical resource – compute – positions us to prosper in an ever-changing world. 👉Luxor, Blockspace's preferred mining pool Bitcoin mining revenue changes every day. Difficulty adjusts. Fees move. Prices shift. And that makes it hard to plan. Luxor Pool’s Fixed Payouts let miners lock in revenue at a guaranteed daily rate for up to 18 months. According to Hashrate Index, miners who used rolling fixed payout strategies since the last halving have outperformed FPPS mining by up to 15 percent. Fixed Payouts give you predictable daily revenue, so you can plan, budget, and grow with confidence. With Luxor, uncertainty is optional. Learn more at luxor.tech/mining

Wall Street’s crypto push is accelerating. In this episode of Public Keys, host Jennifer Sanasie is joined by Bloomberg Intelligence Senior Analyst James Seyffart to break down what Morgan Stanley’s Bitcoin ETF could mean for institutional flows, fee competition, and the next phase of crypto adoption. Giang Bui, Vice President and Head of Issuer Growth at Securitize, explains how the company is working with the New York Stock Exchange to bring tokenized equities to investors, and how this shift could reshape market infrastructure with 24/7 trading, faster settlement, and broader access. The conversation then turns to XRP’s institutional outlook with Sal Gilbertie, Founder and CEO of Teucrium, who shares his perspective on XRP’s role in the future of finance and how investors are approaching crypto exposure through ETFs. This episode covers: What Morgan Stanley’s Bitcoin ETF signals for the market The rise of tokenized stocks and always-on trading The current state of crypto ETF flows and investor demand XRP’s evolving role in institutional portfolios - Timecodes: 00:29 Debate Sparks Over Canton Network on X 01:42 Is Bitcoin Still Cool? 02:20 No One 100% Happy With Stablecoin Yield Agreement 03:00 NYSE Partners With Securitize for Tokenized Securities 07:23 What Demand and Challenges Do Issuers Face? 11:04 What Does Morgan Stanley's BTC ETF Signal? 14:25 Bitcoin and Ether ETF Flows 20:12 Leveraged ETF Basics 22:02 Bullish Case for XRP 26:09 Macro Watch and Corn ETF Performance - This episode was hosted by Jennifer Sanasie.

Did Strategy stop buying bitcoin? For the first time in 13 weeks, Michael Saylor did not post the signature "orange dot" signal on X, breaking Strategy's 13-week Bitcoin buying streak. With the company currently holding 762,099 Bitcoin, are they waiting for a deeper dip or is this a pivot in the firm's strategy? CoinDesk's Jennifer Sanasie hosts "CoinDesk Daily." - Nexo is the premier digital wealth platform. Receive interest on your crypto, borrow against it without selling, and trade a range of assets. Now available in the U.S with 30 days of exclusive privileges. Get started at https://nexo.com/coindesk. - This episode was hosted by Jennifer Sanasie. “CoinDesk Daily” is produced by Jennifer Sanasie and edited by Victor Chen.

On today’s Blockspace Live, we have Hut 8 CEO Asher Genoot and cover the big news that MARA sold $1.1B in BTC. Get your tickets to OPNEXT 2026 before prices increase! Join us on April 16 in NYC for technical discussions, investor talks, and intimate conversation with the brightest minds in Bitcoin. Welcome back to The Blockspace Podcast! Today, Hut 8 CEO Asher Genoot, Luxor Head of Financial Services Matt Williams, and Bitcoin Policy Institute Head of Government Affairs Ken Egan join us to respectively talk about the latest in Hut 8’s AI expansion, the regulatory battle over stablecoin rewards in the CLARITY Act, and Luxor’s new energy and financing offerings for AI operators. Plus, for news, we dive deep into why Marathon Digital is selling BTC to retire debt, how Coinbase and Better Homes and Finance secured a historic mortgage win with Fannie Mae-approved crypto-backed home loans, and why markets are backsliding going into the weekend. Subscribe to the newsletter! https://newsletter.blockspacemedia.com Notes: * Next difficulty adjustment expected at +4.5%. * MARA sold 15,133 BTC ($1.1B) to retire $1B in debt. * Fannie Mae rubberstamps crypto-backed mortgages from Coinbase/Better Homes. * CLARITY Act nearing finish line Timestamps: 00:00 Start 01:19 Difficulty Report by Hashrate Index 04:58 CLARITY Act update 31:39 Asher Genoot, HUT8 44:49 Matt Williams, Luxor 1:01:07 MARA selling BTC 1:22:13 Market update = bad :( 👉CleanSpark CleanSpark (Nasdaq: CLSK) is a market-leading data center developer with a proven track record of success. We own a portfolio of power, land, and data centers across the United States powered by globally competitive energy prices. Sitting at the intersection of Bitcoin, energy, operational excellence and capital stewardship, we optimize our infrastructure to deliver superior returns to our shareholders. Monetizing low-cost, high reliability energy by producing a global emerging critical resource – compute – positions us to prosper in an ever-changing world. 👉Luxor, Blockspace's preferred mining pool Bitcoin mining revenue changes every day. Difficulty adjusts. Fees move. Prices shift. And that makes it hard to plan. Luxor Pool’s Fixed Payouts let miners lock in revenue at a guaranteed daily rate for up to 18 months. According to Hashrate Index, miners who used rolling fixed payout strategies since the last halving have outperformed FPPS mining by up to 15 percent. Fixed Payouts give you predictable daily revenue, so you can plan, budget, and grow with confidence. With Luxor, uncertainty is optional. Learn more at luxor.tech/mining

U.S. Spot BTC ETFs saw largest single-day outflow in three weeks. U.S. spot bitcoin ETFs recorded $171 million in outflows on Thursday, the biggest single-day withdrawal since early March. Is this a sign that institutional demand is cooling amid ongoing macro pressure? CoinDesk's Jennifer Sanasie reports on CoinDesk Daily. - Nexo is the premier digital wealth platform. Receive interest on your crypto, borrow against it without selling, and trade a range of assets. Now available in the U.S with 30 days of exclusive privileges. Get started at https://nexo.com/coindesk. - This episode was hosted by Jennifer Sanasie. “CoinDesk Daily” is produced by Jennifer Sanasie and edited by Victor Chen.

Zcash and privacy demand with Cypherpunk's Will McEvoy. In his first-ever interview, Cypherpunk CIO Will McEvoy sits down with CoinDesk's Jennifer Sanasie to make the case that privacy is wildly undervalued and explains what it will take for the market to finally catch up. Plus, he shares his Zcash price prediction and outlines why an AI-driven reckoning may force people to confront how much privacy they've already surrendered. - Timecodes: 01:19 - What Will Says the Market Is Getting Wrong About Privacy02:48 - What Are We Giving Up For Convenience?06:22 - Is Zcash Is the Tradable Monetary Unit of Privacy?09:12 - Will's Zcash Price Prediction10:44 - Zcash vs. Bitcoin vs. Gold on Privacy15:06 - Do Privacy Coins Face Regulatory Risk?16:59 - Cypherpunk's Investment in ZODL19:42 - Cypherpunk's DAT Strategy22:09 - The One Development That Could Catapult the Privacy Narrative - This episode was hosted by Jennifer Sanasie.

Why did Bittensor's TAO token price double in the past month? Bittensor's native token TAO has more than doubled this month as staking activity surges across the network's AI subnets. The decentralized machine learning marketplace is drawing fresh attention from builders and investors betting on the intersection of crypto and AI. Jennifer Sanasie breaks down what's driving the rally on CoinDesk Daily. - Nexo is the premier digital wealth platform. Receive interest on your crypto, borrow against it without selling, and trade a range of assets. Now available in the U.S with 30 days of exclusive privileges. Get started at https://nexo.com/coindesk. - This episode was hosted by Jennifer Sanasie. “CoinDesk Daily” is produced by Jennifer Sanasie and edited by Victor Chen.

Tether is finally conducting an audit, and the CLARITY Act is shaping up to be a dud for stablecoins. Get your tickets to OPNEXT 2026 before prices increase! Join us on April 16 in NYC for technical discussions, investor talks, and intimate conversation with the brightest minds in Bitcoin. Welcome back to The Blockspace Podcast! Today, Jay Patel, Founder of Lygos Finance, joins us to talk about tremors in private credit markets and how they might affect bitcoin-backed credit markets, and Blockspace podcaster Gwart hops on to discuss crypto’s year of soul-searching. We also dive into Tether’s first-ever audit, why the banks beat crypto in the latest draft of the CLARITY Act, and the emergence of a new Bitcoin client. Finally, we break down the incredible story of the unlikely hiding place for an Irish Drug dealer’s bitcoin stash. Subscribe to the newsletter! https://newsletter.blockspacemedia.com Notes: • Tether seeks first Big Four audit vs Circle. • Banks beat crypto in CLARITY Act. • Irish authorities seized 500 BTC from dealer. • Private credit faces risks as Blue Owl, others alter redemptions. • New Bitcoin client makes the “conservative case” for BTC Timestamps: 00:00 Start 02:35 Tether audit 16:30 CLARITY Act update 28:44 Gwart 47:07 Jay Patel from Lygos on Private Credit 1:02:18 New Bitcoin software client 1:12:10 Irish weed dealer's BTC gets seized 👉CleanSpark CleanSpark (Nasdaq: CLSK) is a market-leading data center developer with a proven track record of success. We own a portfolio of power, land, and data centers across the United States powered by globally competitive energy prices. Sitting at the intersection of Bitcoin, energy, operational excellence and capital stewardship, we optimize our infrastructure to deliver superior returns to our shareholders. Monetizing low-cost, high reliability energy by producing a global emerging critical resource – compute – positions us to prosper in an ever-changing world. 👉Luxor, Blockspace's preferred mining pool Bitcoin mining revenue changes every day. Difficulty adjusts. Fees move. Prices shift. And that makes it hard to plan. Luxor Pool’s Fixed Payouts let miners lock in revenue at a guaranteed daily rate for up to 18 months. According to Hashrate Index, miners who used rolling fixed payout strategies since the last halving have outperformed FPPS mining by up to 15 percent. Fixed Payouts give you predictable daily revenue, so you can plan, budget, and grow with confidence. With Luxor, uncertainty is optional. Learn more at luxor.tech/mining