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How Silent.Link Solves SIM-Swap Risks And Roaming Hassles For Traveling Bitcoiners

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Silent Link, a Bitcoin native SMS and mobile data company, has quietly grown into an international service provider for privacy-oriented users worldwide, at competitive rates. But how can a young company compete with the mobile data giants?

Born from the Bitcoin industry, the brainchild of cypherpunk thought leaders like Matt Odell, Silent Link is a modern mobile data and SMS company that challenges the complicated and mediocre customer service of phone service providers around the world.

A founding member of Silent Link, who asked not to be named, and thus we will call Bob, told Bitcoin Magazine in an exclusive interview the genesis story of this company that’s solving one of the most common pain points of the international and travel-savvy Bitcoiner, getting data and SMS authentication messages anywhere in the world. The company offers eSIM-only services globally, with no physical sim card support, making it an entirely digital business. Its Bitcoin native design shows up on its pricing, which Bob says has only gone down over time, already dropping 20% in 2026.  

Bitcoin Native and Privacy Focused

Born during the 2020 COVID lockdowns, Bob recalled that he went on a Matt Odell podcast marathon during which he was inspired to run his own BTCPay Server instance. He figured if he could come up with a digital business that earned Bitcoin, he would have a solid way stack sats directly to self-custody.

After setting up the basic payments suite common to many Bitcoin companies, made up of BTCPay servers, an open source stack with Lightning support, full invoicing and accounting back end, Bob realised he now needed a product. It was not long before him, and his growing team realised that providing a modern data and SMS service might just be the perfect product.

Today, Silent Link offers users worldwide data rates competitive with phone service giants, as well as incoming SMS texts often needed for authentication to legacy companies like banks, and many online web platforms. The company does not offer outgoing texts, nor does it support normal phone calls. Bob explained that these are terrible protocols, fully surveilled by governments throughout the world, and his target audience uses more secure and sophisticated messaging apps anyway. 

As such, Silent Link is a privacy-first Bitcoin company. Instead of connecting your phone services to your personal information, which in many countries ends up deeply integrated with the financial system, even showing up in credit scores, Silent Link provides essential services in the digital age, while collecting no personal information from its users. Bob added that “not even the local data carrier knows your phone number”. 

Silent Link eSIMS can be purchased even without giving the company an email. Bob explained that if you have no user information, there’s nothing to hack and there’s no honey pot to go after, adding that so far they have received “zero requests for user information” from governments. Furthermore, it aligns incentives between the company and its users, rather than turning the user’s data into a product to be sold to third parties. According to Bob, the company is also entirely self-funded and profitable, another critical decision that he feels aligns incentives with its users, adding that “you can not serve two masters”.

Users get a special link when they purchase an eSIM, a code that they can back up in a similar way as they would store the 12 words to their Bitcoin wallet, and this simple secret information serves as their key and authentication to their eSIM service. Bob added that this model of authentication nullifies the infamous “sim card swap” attacks, which have led to multi-million dollar hacks in the industry throughout the years. 

Roaming and Travel Automated

Further polishing the user experience, clearly designed to serve an audience that travels often and is sensitive to cybersecurity risks, Silent Linkautomates and hides roaming-related decisions when users move from one country to another, be it for travel or otherwise. Bob says users can expect the same phone number to work in most countries, without having to worry about getting a local temporary sim card, having to buy roaming access, getting overcharged, or having to talk to customer service to make a special purchase at all. Silent Linksimply connects to data providers in the local network and draws from the balance on the user accounts, minimising friction and staying competitive on price. 

According to Bob, Silent Link can get around state firewalls, including the Chinese firewall, and users report they can use WhatsApp from Dubai, which has restrictions on Voice over IP (VoIP) protocols. The eSIM model actually has a lot to do with this censorship resistance quality unlocked by Silent Link.

Data sharing hotspot features are not throttled either, essential for perpetual travellers and those Bitcoiners hopping from conference to conference around the globe as they work online.

Lighter Enables Unified Collateral for Spot and Futures Trading

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LIT surged 13% following a week of product updates.

LIT, the native token of decentralized perpetuals exchange Lighter, rose as much as 13% over the past 24 hours as the platform rolled out new trading features, including unified collateral accounts.

LIT Chart

The token traded as high as $1.62, but has since retraced to $1.59, up just over 11% on the day, according to CoinGecko. However, LIT is still down around 50% from its launch price of above $3.

The price action follows a series of product updates from Lighter this week. On Thursday evening, the DEX launched new trading account types that let users switch to a unified collateral system for spot and perpetual futures trading.

The company explained in a post on X that this is the first phase in a set of upgrades aimed at allowing “arbitrary tokens” to be used as collateral on the platform. Lighter also added that the next step is the tokenization of LLP, the platform’s market-making vault.

Lighter currently has $925.8 million in total value locked (TVL) and ranks fourth among perpetual DEXs by daily trading volume, according to DeFiLlama. The platform has also accumulated more than 801,000 users and processed over 59 billion transactions, according to its explorer.

Earlier this week, Lighter also announced new markets, including Korean equity perpetual futures. The platform now offers contracts linked to Hyundai, Samsung, SK Hynix, and the Korean Composite index, with up to 10x leverage, according to a post on X.

The upgrades come as perpetual futures trading continues to heat up across decentralized finance (DeFi), with exchanges racing to capture market share. Competitors like Hyperliquid and Aster remain the largest players, with $5.1 billion and $1.86 billion in open interest (OI), according to DeFiLlama. As of Friday, Lighter’s OI stands at $782 million.

Is Bitcoin Trading Like a Tech Stock?

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Bitcoin (BTC) was once pitched as digital gold — a hedge against monetary instability and market turmoil. But recent price action tells a different story.

As institutional participation has grown, particularly through exchange-traded funds and other traditional vehicles, Bitcoin has increasingly traded in lockstep with risk assets. The latest downturn in software stocks, fueled by renewed uncertainty around AI’s impact on the sector, has been mirrored in crypto markets, raising fresh questions about Bitcoin’s evolving identity.

That changing dynamic sets the tone for this week’s Crypto Biz. New research from Grayscale examines Bitcoin’s growing correlation with growth equities, while one Ether (ETH) treasury company is doubling down despite multibillion-dollar paper losses. Elsewhere, BlackRock is expanding its tokenization push through a Uniswap integration, and Polymarket is taking its fight over state regulation to federal court.

Grayscale: Bitcoin is trading like a growth asset, not digital gold

New research from Grayscale suggests that Bitcoin’s store-of-value narrative has recently taken a back seat, with the digital asset behaving more like a growth stock.

In the report, author Zach Pandl said that while Grayscale continues to view Bitcoin as a long-term store of value due to its fixed supply and independence from central banks, its short-term trading patterns resemble those of high-growth equities.

The analysis found a strong correlation between Bitcoin and software stocks over the past two years. That relationship has become more apparent as software companies face renewed selling pressure amid concerns that artificial intelligence could disrupt parts of the industry.

Against that backdrop, Bitcoin’s recent pullback appears less surprising, as its price has closely tracked the software sector’s movements.

Bitcoin’s recent price performance tracks closely with software stocks. Source: Grayscale

BitMine adds 40,613 ETH during market sell-off

Ether treasury company BitMine Immersion Technologies added 40,613 ETH to its holdings during the recent market sell-off, reinforcing its long-term bet on Ether even as prices plunge and paper losses reach billions of dollars. 

The purchase raised BitMine’s total Ether stash to more than 4.326 million ETH, worth about $8.8 billion at current levels. According to DropsTab data, the company is now sitting on around $8.1 billion in unrealized losses on its ETH position, reflecting a significant gap between its cost basis and today’s market price.

Despite investor criticism and pressure on its stock price, which has fallen sharply over recent months, BitMine chairman Tom Lee said the company’s strategy is designed to track Ether’s long-term trajectory and benefit from future recoveries. The company’s broader crypto and cash portfolio is valued at roughly $10 billion.

BitMine’s paper losses now exceed $8.1 billion. Source: DropStab

BlackRock buys UNI, brings BUIDL to Uniswap

BlackRock is deepening its push into decentralized finance by listing its tokenized money market fund on Uniswap, a significant step for institutional DeFi adoption.

The asset manager’s USD Institutional Digital Liquidity Fund (BUIDL) is now available on the decentralized exchange, giving whitelisted institutional investors the ability to trade the tokenized Treasury product onchain. As part of the move, BlackRock is also purchasing Uniswap’s governance token, UNI.

BUIDL is the largest tokenized money market fund, with more than $2.1 billion in assets. The fund is issued across multiple blockchains, including Ethereum, Solana and Avalanche. In December, it surpassed $100 million in cumulative distributions generated from its US Treasury holdings.

BlackRock’s BUIDL has more than $2.1 billion in assets. Source: RWA.xyz

Polymarket sues Massachusetts over state regulation of prediction markets

Decentralized prediction market Polymarket has filed a federal lawsuit against the state of Massachusetts, challenging state authorities’ efforts to restrict or shut down its event-based trading products. 

Polymarket’s chief legal officer, Neal Kumar, confirmed the filing on Monday, saying unresolved legal questions around jurisdiction should be settled at the federal level rather than through state enforcement. The lawsuit is preemptive, aimed at blocking any action by Massachusetts Attorney General Andrea Campbell that Polymarket contends would unlawfully interfere with federally regulated markets.

The company argues that the Commodity Futures Trading Commission (CFTC), not individual states, has exclusive authority over event contracts like those offered on its platform, and that state actions risk fragmenting national markets.

Source: Neal Kumar

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