Episode Details

August delivered few headlines, but the markets refused to take a summer break. In this BFRR Monthly Briefing, co-hosts Dr. Jonas Gross and Manuel Klein examine Bitcoin’s sharp rise from roughly $63,000 to nearly $79,000, renewed inflows into spot ETFs and the macroeconomic signal sent by the U.S. Treasury’s decision to expand buybacks of longer-dated bonds. They also assess President Trump’s latest meeting with crypto executives and ask what another delay to the CLARITY Act means for the United States—and whether Europe can turn regulatory stability into an advantage.

The episode’s central question is more fundamental: Who should be trusted to safeguard digital assets? The COLDCARD incident, in which attackers exploited weak randomness in wallet seed generation and stole more than $100 million in Bitcoin, challenges the assumption that hardware wallets eliminate counterparty risk. Jonas and Manuel compare self-custody with institutional custody and explain why “don’t trust, verify” still depends on software, audits, operational discipline and human judgment. Citi’s forthcoming Bitcoin custody service provides the institutional counterpoint, combining digital assets with its broader Custody+ infrastructure.

The discussion then turns to private forms of digital money. Tether has completed its first full audit of its financial statements, receiving an unqualified opinion from KPMG U.S. Revolut is bringing euros on-chain with EURR, a new stablecoin issued by Stripe-owned Bridge, while Circle has named major financial institutions as founding validators for its Arc network. Standard Chartered and HSBC, meanwhile, have completed the first live cross-border tokenized-deposit transaction on Swift’s blockchain-based ledger.

In the Knowledge Bites, the hosts review a BaFin survey exposing persistent gaps in German investors’ understanding of crypto assets and a BlackRock paper on Bitcoin’s possible role in a traditional 60/40 portfolio. A concise look at the choices now shaping crypto custody, stablecoins and the future architecture of money.

Bitcoin, Fiat & Rock’n’Roll Website Bitcoin, Fiat & Rock’n’Roll Telegram Channel

Knowledge Bite Jonas: Re-Underwriting Bitcoin: Still a Portfolio Diversifier Knowledge Bite Manuel: Wissenslücken bei Krypto-Anlegerinnen und -Anlegern

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