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BREAKING: Coinbase and Better fund first bitcoin-backed mortgage, plan nationwide rollout soon

As you know, Bitcoin is having an ugly week…

At the time of writing, BTC is still sitting around the low $60Ks, roughly where it was yesterday after the big flush.

But here's some interesting news:

Bitcoin just moved one step deeper into ordinary American finance.

Coinbase and Better have now funded the first conventional Fannie Mae-backed mortgage using Bitcoin as collateral.

Meaning the borrower didn't have to sell their Bitcoin to help buy a house.

They could pledge it instead.

The simple version works like this:

The borrower keeps exposure to their BTC, Coinbase handles custody, Better structures the mortgage, and the loan sits inside the normal Fannie Mae-backed mortgage system.

Better says day-to-day Bitcoin price swings aren't meant to trigger sudden margin calls or forced liquidations.

That's the key difference…

This isn't just a crypto loan dressed up with a house in the background.

It's Bitcoin being used as collateral inside one of the most normal parts of the U.S. financial system.

For the last few days, we've mostly been talking about Bitcoin as something investors are selling, hedging, or panicking over.

This story flips the question.

What if Bitcoin isn't only something you sell when you need cash?

What if it's also something you can borrow against while keeping the asset?

There are still obvious risks.

Bitcoin is volatile. Mortgage lenders will still need strict rules. And if BTC falls far enough, the collateral question gets a little more serious.

But the policy backdrop is changing too.

The FHFA has already told Fannie Mae and Freddie Mac to consider crypto assets in mortgage risk checks without forcing borrowers to convert them into cash first.

Coinbase and Better plan to roll the product out nationally to qualified borrowers this summer, starting with BTC and USDC.

And according to The Block, the waitlist already represents around $250M in potential loan volume.

So yes, Bitcoin's price chart looks rough right now.

But under the surface, the asset is still being pulled into the traditional financial system.

Wall Street isn't waiting for the filing. Five publicly traded companies are already accumulating exposure to SpaceX's core revenue streams — Starlink, Falcon 9, and the defense contracts. We've identified each one, ranked by upside and risk tier. Get the full breakdown before the listing window closes.

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Every crypto winter looks hopeless right before it ends. Matt Hougan just explained why this one is no different.

Hougan is the Chief Investment Officer at Bitwise, managing over $15 billion in crypto.

And on his latest Milk Road interview, he laid out where we are in the cycle.

Right now, AI stocks are stealing the spotlight. Crypto is stuck waiting on the CLARITY Act and the next wave of growth. Sentiment is low. People are tired and leaving.

But look closer, he says, and you see the early signs of something big.

His honest take? It still feels dark. Just like early 2019. Just like after FTX. The summer funk might linger because most people can't see past it.

But that's always how it works. The green shoots show up before anyone believes in the forest.

A strong second half. An even better 2027. 🌳

Today we’ll be taking a look at the amount of Bitcoin available for sale on exchanges.

Here’s how to interpret this metric:

2.71 million BTC on exchanges. Up from 2.69 million two weeks ago.

That's the second consecutive fortnight of rising exchange balances for Bitcoin. And unlike ETH - where the previous uptick immediately reversed - BTC's exchange supply keeps ticking higher.

That divergence is worth noting. ETH exchange balances resumed their decline this fortnight while Bitcoin's moved in the opposite direction. The two assets have been in lockstep on this metric for most of the year. They're no longer.

Now, let's not overstate it. The increase is small - roughly 20,000 BTC across two weeks. And on a year-to-date basis, exchange balances are still well below where they started January.

But two consecutive upticks after months of relentless decline is a data point that deserves attention. Some holders are moving coins back onto exchanges. Whether that's positioning for a sell, rebalancing between venues, or simply a reaction to the persistent ETF outflows since early May - it's a shift in behaviour we haven't seen for most of this cycle.

Not alarming yet. But no longer ignorable either. We'll see if the third reading confirms a trend or if this fades like so many counter-moves before it. 💪

Fannie Mae-Backed Bitcoin Home Mortgages Are Finally Here, Coinbase Says. Coinbase said a Michigan couple closed on the first conventional Fannie Mae-backed mortgage using Bitcoin as collateral.

Apyx's STRC collateralized stablecoin suffers a brief depeg. Protocol says its a feature, not bug. Apyx’s apxUSD briefly slipped to 93 cents during the BTC selloff.

Coinbase freezes $3M tied to Southeast Asia crypto fraud networks. A DOJ-led operation with Coinbase, Meta, SpaceX, Apple, Google, Microsoft, TRM Labs, and international law enforcement targeted scam networks.

Visa, Brale test privacy-enabled SBC stablecoin settlement on Canton Network. Visa and Brale are testing stablecoin settlement with privacy controls for institutional payment flows.

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Market makers help keep markets tradeable by standing ready to buy and sell around a quoted spread. Healthy market making can reduce gaps between buyers and sellers, although it does not guarantee prices will rise.

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