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Matt Corallo Urges Bitcoin Projects To Exit GitHub After Rust Lightning Ban

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Matt Corallo Urges Bitcoin Projects To Exit GitHub After Rust Lightning Ban

GitHub has been the home to Bitcoin Core and many other software projects in the Bitcoin industry for over a decade, but it was not the first collaborative version control platform to host the digital currency’s code, and it may not be the last.

Recent performance issues in GitHub have triggered a new wave of criticisms of the platform, reviving old concerns and dissatisfactions with its design and reliability. Matt Corallo, one of the longest-acting Bitcoin core contributors, took to X recently to announce the decision to migrate off the platform, not Bitcoin core’s code base yet, but the Rust Lightning dev kit, a code base he is closely involved with. 

In an X quote retweet thread that goes back through multiple viral posts complaining about the platform, Corallo said, “our org currently has no CI (quality testing processes) because GitHub wrongly flagged a contributor, not an admin or maintainer, just someone new who opened a few pull requests. We’ve escalated it through corporate account managers and still basically nothing.” A week or so later, he added: “GitHub has decided our open-source project has been permanently banned with no explanation and no option to appeal, pointing to a ToS that clearly does not cover anything we’ve ever done.” – “I guess it’s time for Bitcoin projects to leave GitHub.”

The banned contributor appears to be Luis Schwab, who replied “I’ve had my account banned twice within a week “by mistake”. Relying on GitHub’s goodwill is not a good long term strategy.” Multiple other Bitcoin and crypto engineers replied with similar experiences, saying they too had migrated off the platform or been banned without recourse, like Roman Storm, who replied, “In 2022, GitHub locked my account over Tornado Cash sanctions. I’m a US citizen. They told me to get an OFAC license to access my own account. The sanctions were later ruled unlawful and overturned. The account is still locked. I’ve filed ticket after ticket – now they don’t even respond. Abolish GitHub.”

Corallo blames the AI wave on the recent mass banning of accounts and increasingly aggressive measures taken by the massive platform. The popularity of vibe coding has brought a new wave of attention, amateur projects and automated bot-like behavior to the already overburdened platform. Today, GitHub claims to host over 420 million repositories and over 4 million organizations worldwide. GitHub was acquired by Microsoft in 2018, which, to some, also explains its steady downfall. 

Even Andrew Poelstra, another senior Bitcoin Core and Rust Lightning contributor, with over a decade of experience in the industry, wrote a devastating take-down of GitHub, defending the decision to migrate. “This site has an overwhelming amount of LLM slop, and they have no intention of stopping it, though they did write this insane blog post taking credit for FOSS as a way of acknowledging the problem,” he began, continuing to explain that the merging of code into the master repositories had now been  “broken for several days.” This caused cascading issues that confused the “merge script,” a security program that makes sure updates to a code base are done properly. 

The bug meant that tracking and merging pull requests — contributions from other developers — didn’t work as expected. “Tracking PRs is the one thing GitHub is supposed to do, and it’s broken. It’s no longer more convenient to stay here than to leave, which was the only reason we’ve stayed so long,” Poelstra continued. “The usual problems where diffs and comments are hidden, the site being slow and unreliable, the permissions model being insane and broken, the lock-in, the crappy and slow API, etc. [All of] which we could live with if the basic functionality worked, but it doesn’t.”

As a result, the next destination for Rust Lightning and perhaps other Bitcoin projects in the industry may be Forgejo, a lightweight GitHub alternative optimized towards self-hosting and high agency projects. Corallo confirmed to Bitcoin Magazine that “rust-bitcoin already started migrating to git.rust-bitcoin.org” and Rust Lightning would follow. 

The repositories will likely continue to host a copy on GitHub, though no public statements have been made about any kind of long-term mirroring strategy of the code base, meaning it will eventually just live on their own site. 

Trezor Academy Releases Documentary On Africa’s Bitcoin Economy, Opens Education Donations

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Trezor Academy Releases Documentary On Africa’s Bitcoin Economy, Opens Education Donations

While Western financial media has spent much of 2026 tracking Bitcoin’s crash from its October 2025 all-time high near $126,000, Trezor Academy has released a documentary that documents a different story. 

Seeding Bitcoin: Trezor Academy and Africa’s Bitcoin Revolution follows educators, merchants, and community members across Sub-Saharan Africa who are using Bitcoin not as a speculative asset but as a functional monetary tool.

The film captures Bitcoin education centers in South Africa where students as young as teenagers complete a Bitcoin diploma course and receive weekly rewards in bitcoin, which some use to buy groceries for their families. 

It profiles a shopkeeper who refused Bitcoin due to volatility concerns until a local educator introduced him to stablecoin settlement, after which he became an adopter. 

It documents a woman who traveled 14 hours to attend a grassroots Bitcoin conference and a former drug addict whose life has shifted since engaging with the local Bitcoin circular economy.

The through-line across all of them is exclusion from the existing financial system. Speakers in the film describe populations — refugees, orphans, people without formal addresses or government-issued ID — who cannot access bank accounts, credit, or formal payment infrastructure. 

Bitcoin, as one participant puts it, “doesn’t recognize if you’re poor or rich, what color your skin is, whether you have some government ID or not.”

Chainalysis recorded more than $205 billion in on-chain value received across Sub-Saharan Africa in the year to mid-2025, up around 52% year-on-year — the third-fastest regional growth rate in the world. 

A larger share of those transfers fell under $10,000 than in any other region, a pattern consistent with everyday use by individuals rather than institutional flows. 

Remittance costs tell part of the story: sending $200 to Sub-Saharan Africa through traditional channels carries fees close to 9 percent, the highest of any region according to the World Bank. 

On Bitcoin’s Lightning Network, the equivalent transfer can cost a few cents.

Currency instability adds another dimension. When Nigeria’s naira was devalued in March 2025, on-chain volume across the region spiked as people moved savings out of local currency. For communities that have lived through rampant inflation across multiple generations, a fixed-supply asset outside government control carries practical rather than ideological appeal.

Trezor Academy: Global bitcoin education

Trezor Academy, which has run more than 300 meetups, graduated over 2,000 students, and now operates in more than 30 countries, built the documentary around local educators teaching peers in their own languages. 

“This program will not teach everybody in Africa about Bitcoin,” says one educator in the film. “What we’re doing here is planting seeds through local educators from which Bitcoin circular economies later grow.”

Alongside the release, Trezor has added a donation option to its online shop. Customers can contribute at checkout or donate without a purchase, with all proceeds directed toward workshops, meetups, and project sponsorships in the Global South.

Base blockchain resumes after two-hour outage disrupted network

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Base blockchain resumes after two-hour outage disrupted network

Coinbase-backed Ethereum layer-2 network Base resumed block production Thursday after a disruption of roughly two hours that halted the blockchain.

In an update, the Base team said the chain has resumed working and internal nodes were syncing correctly, though it continues to investigate the root cause of the incident. The team also advised ecosystem node operators to restart their Base nodes to restore synchronization.

The first public indication of problems came at 16:03 UTC, when Base reported that mainnet block production was “unhealthy.” By 16:52 UTC, the team said it had identified a problem and was pursuing multiple remediation efforts.

The incident temporarily halted transaction processing on one of Ethereum’s largest layer-2 networks. Base has not yet disclosed what caused the invalid block or whether the issue stemmed from a software bug or another consensus-related fault.

The network also previously suffered an outage in August 2025.

The team said it will continue to monitor network stability and provide further updates as its investigation continues.

Read more: Base Network Suffers 1st Downtime Since 2023, Halts Operations for 29 Minutes

Strategy (MSTR) Drops Down 25% In Five Days As BTC Crashes

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Strategy (MSTR) Drops Down 25% In Five Days As BTC Crashes

Strategy Inc. (MSTR) fell more than 9% at times on Thursday to its lowest level since March 2024, extending a five-day collapse of nearly 30% as Bitcoin broke below $60,000 and a securities investigation targeting the company became public.

Shares of the Michael Saylor-led Bitcoin treasury company hit $85 by midday Thursday, down from above $117 at the start of the week. The stock has now shed roughly 36% over the past month — nearly double the 18.5% decline in Bitcoin over the same period.

On top of this, Rosen Law Firm posted a press release saying it is investigating potential securities fraud claims against Strategy, alleging the company “may have issued materially misleading business information to the investing public.” The probe covers all five of Strategy’s publicly traded securities: MSTR, STRF, STRC, STRK, and STRD. 

The legal pressure compounds a financial squeeze that analysts say stems from Strategy’s own capital structure. 

The company holds 847,363 Bitcoin — the largest corporate stockpile in the world — purchased at an average price that now leaves the entire 2024, 2025, and 2026 acquisition tranche underwater. Unrealized losses on the Bitcoin portfolio stand at approximately $10.6 billion.

Strategy’s preferred stock breaks down

The deeper concern for investors is Strategy’s STRC preferred stock, which has crashed to an all-time low and now trades around $76 — roughly 24% below its $100 par value. The structure matters because Strategy has relied on selling preferred stock to fund ongoing Bitcoin purchases. 

When preferred shares trade below par, that capital-raise mechanism stalls.

As Strategy issued more STRC over the past six months, annual dividend obligations ballooned from $300 million at the start of 2026 to $1.2 billion — a fourfold increase. Cash reserves, meanwhile, fell 38% over the same period. 

CryptoQuant, the on-chain analytics firm, published a note June 23 urging Strategy to stop buying Bitcoin and rebuild its cash position to roughly $2.8 billion before resuming accumulation. The firm said dividend coverage has collapsed from more than seven years to approximately 14 months.

Strategy appears to have gotten the message before the report landed. In the week of June 22, the company bought just 520 Bitcoin for roughly $35 million — a fraction of its prior pace — and routed $300 million of a $335.5 million common stock raise into its cash reserve, lifting it to $1.4 billion.

Saylor has not commented publicly on the investigation or CryptoQuant’s warning.

Story Rebrands as DATA Foundation in Pivot to AI Training Data

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Story Rebrands as DATA Foundation in Pivot to AI Training Data

The intellectual-property blockchain that raised $140 million led by a16z crypto is migrating its $IP token to $DATA one-to-one and integrating data marketplace Kled, registering 1.1 billion user records on the network.

Story, the layer 1 blockchain built to put intellectual property onchain, rebranded as DATA Foundation on Thursday and refocused the project on supplying AI training data, the company said in a blog post and press release. The project is migrating its $IP token to a new token, $DATA, on a one-to-one basis.

The token, now trading as DATA, jumped about 12% over 24 hours, compared with a 0.2% slide in Bitcoin, according to CoinGecko. The relaunch registers 1.1 billion user-contributed records from Kled, a data marketplace that DATA Foundation named its flagship app. Story has raised $140 million in total venture funding, led by Andreessen Horowitz’s a16z crypto.

The shift is a bet that the most valuable form of intellectual property is now the data used to train AI models. DATA Foundation said frontier labs have largely exhausted the public web available to scrape, leaving them without a way to source data at scale, prove where it came from, or verify its quality. The pivot is also a retreat from the broader IP-licensing thesis Story launched with last year: total value locked on the Story chain has fallen to about $349,000, down from a peak near $45 million in September, according to DefiLlama.

“The challenge in AI has shifted from compute and architecture to sourcing and provenance,” said Andrea Muttoni, who becomes CEO of DATA Foundation, in the press release. “As the scrapable web fractures, the question for labs now is who is keeping the receipts.”

Muttoni, previously Story’s president and product chief, takes over as CEO. Co-founder Seung-yoon Lee moves to an advisory role. Avi Patel, founder and CEO of Kled, joins as chief data officer in a part-time advisory capacity while continuing to lead Kled, the company said.

Kled Integration Anchors the Launch

Kled, which describes itself as the world’s largest opt-in human data marketplace, lets people upload images, video and other files and get paid when AI labs license them. Starting Thursday, Kled’s licensing rails, contributor receipts and stablecoin payouts run on DATA Protocol, with 1.1 billion records registered on the network at launch, the company said. Kled said its app processes more than 5 million uploads a day.

“Frontier labs have exhausted the supply of high-quality, human-generated public text available on the open web,” said Patel in the press release. “Suppliers showing data-sourcing provenance will win the next decade of deals, and that’s our bet.”

A Public Audit Layer Called Trace

Alongside the Kled integration, DATA Foundation launched Trace, a public audit and search platform where every record registered on the network can be looked up. Trace generates a receipt for each contribution that includes a content hash, consent terms, the license, payment status and timestamps, the company said. The underlying data is not stored on Trace, so labs can verify a dataset’s provenance without exposing the data itself.

Quality control runs through Poseidon, an AI data-processing project Story incubated that cleans, structures and scores raw human data, screening out content that was scraped, synthetic or altered. Poseidon, which is backed by a16z, raised a $15 million seed round in 2025 and runs a live contributor app called Numo that pays users in stablecoins in real time.

Token Migrates One-to-One

The $IP token migrates to $DATA on a one-to-one basis with no action required from existing holders, the foundation said. It said migration guidance, exchange timing and an FAQ would be published before any deadline at datafdn.org/faqs, and warned holders to ignore any message asking them to migrate manually or send tokens to a new address.

DATA has a total supply of about 1.03 billion tokens, of which roughly 356 million are circulating, putting its market value near $122 million and its fully diluted valuation around $351 million, per CoinGecko. The foundation said the network’s validator set and existing integrations are unchanged.

Difficult Stretch

The rebrand follows a difficult stretch for the project. DATA is down about 29% over the past 30 days and trades more than 97% below its September high of $14.78, per CoinGecko. Onchain activity has thinned to near zero, with chain TVL at about $349,000.

The project has also drawn criticism. Co-founder Jason Zhao departed in August 2025 amid community backlash, and Adam Cochran, a partner at Cinneamhain Ventures, argued at the time that Story exemplified richly backed startups that raise large sums on the strength of founder pedigree but attract few users. Story is also the latest crypto project to retool around AI as funding flows toward the sector.

The record counts and Kled’s market-leading claim are company-provided and have not been independently verified.

DATA Foundation said its Confidential Data Rails product will reach mainnet in the third quarter, and that contributor apps Numo, Oto and Miso will expand into new languages and data types in the coming weeks. The foundation said it would publish step-by-step token-migration timing and exchange details before any deadline.

Bitcoin Below $59K Activates Multiple Setups With $54K BTC Price Target

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Bitcoin Below $59K Activates Multiple Setups With $54K BTC Price Target

Bitcoin (BTC) dropped below $60,000, a key psychological support, on Thursday as losses in megacap technology stocks weighed on investors’ broader risk appetite, adding pressure to an already fragile crypto market.

BTC/USD vs. Nasdaq and S&P 500 daily performance chart. Source: TradingView

The decline has triggered a classic bearish reversal setup that may push the BTC price under the $54,000 mark in the coming days.

Key takeaways:

  • Bitcoin’s break below $60,000 has erased its June gains and activated multiple bearish setups.
  • Bitcoin’s rounded top and daily bear flag breakdowns are both projecting a downside target below $54,000.

BTC’s rounded top breakdown signals more pain ahead

The BTC/USD pair fell as much as 4.8% on Thursday, hitting an intraday low near $58,000 and erasing its entire June advance. The pullback also completed what appears to be a rounded top pattern on the four-hour chart.

BTC/USD four-hour chart tracking the rounded top bearish setup. Source: TradingView

In technical analysis, a rounded top forms when buying momentum gradually exhausts, shifting the asset from an uptrend to a downtrend in an inverse-U-shaped structure. The pattern officially resolves when the price breaks below the “neckline” or the structure’s base support.

By measuring the distance from the top of the dome to the neckline and projecting that same distance downward from the breakdown point, analysts calculate a clear target.

For Bitcoin, this measured downside target sits just under the $54,000 level, representing an approximate 8.9% drop from current prices.

On the daily chart, Bitcoin has simultaneously triggered a bear flag breakdown.

BTC/USD daily chart tracking the bear flag breakdown setup. Source: TradingView

This secondary pattern independently projects an identical move toward the $54,000 zone, adding substantial weight to the bearish case.

Bitcoin MVRV bands increase $54,000 target odds

Bitcoin’s on-chain price bands also point to the same downside area highlighted by the rounded-top and bear-flag setups.

Glassnode’s MVRV pricing bands compare Bitcoin’s market price with its realized price, or the average price at which coins last moved on-chain. In simple terms, they show whether the market is trading at unusually high profit or loss levels.

BTC MVRV pricing bands vs. price. Source: Glassnode

As of Wednesday, Bitcoin was trading near $60,997, while the 1.0 MVRV band, shown in green, sat around $53,390. That level closely matches the technical downside target near $54,000, making it an important support zone if BTC extends its decline.

Related: Bitcoin nearly loses $59K as DXY surges: Are traders bracing for more pain?

A deeper selloff, however, could push Bitcoin toward the 0.8 MVRV band, shown in blue, near $42,700. Historically, Bitcoin’s major bear-market bottoms have formed around this lower blue band, where unrealized losses become extreme, and capitulation risk rises.

STRC’s correlation with BTC hits record high

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STRC’s correlation with BTC hits record high

Bitcoin holder Strategy Inc.’s perpetual preferred stock, known as STRC or “Stretch,” is showing an increasingly tight link to bitcoin’s BTC$59,538.26 price moves. This weakens its appeal as a relatively steady income provider.

The 90-day correlation coefficient between the two has climbed to nearly 0.70, the highest level since the instrument debuted in July 2025, according to data source TradingView. The correlation has been rising since early this month, with both STRC and BTC losing ground. While STRC has tanked 23% to $76 this month, BTC’s price has slipped nearly 20% to under $60,000, hitting levels last seen in October 2024.

This tightening correlation changes the risk profile for investors seeking steady income from the preferred stock of the world’s largest corporate BTC holder, which owns 847,363 BTC worth $50.4 billion, according to BitcoinTreasuries.net.

STRC was designed as a hybrid product: a variable-rate perpetual preferred stock with a $100 par value that pays monthly cash dividends. The current annualized rate is 11.5%, and the board adjusts it monthly to encourage trading near par. When shares trade above $100, the firm can issue additional shares through at-the-market offerings and use the proceeds to purchase additional bitcoin.

a16z-backed crypto firm rebrands, shifts focus to solving AI’s global copyright headache

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a16z-backed crypto firm rebrands, shifts focus to solving AI’s global copyright headache

The startup formerly known as Story Protocol raised $140 million to secure internet rights and is now building an audit layer for data consent, licensing, and provenance for tech firms.

BlackBerry shares surge 23% after the former phone giant reveals its new role in the AI boom

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BlackBerry shares surge 23% after the former phone giant reveals its new role in the AI boom

“As intelligent machines become increasingly autonomous and operate around people, the requirements for safety, security, reliability and real-time determinism become even more important,” CEO John Giamatteo said during an earnings call. “Unlike probabilistic AI systems, QNX technology is deterministic and safety certified, which is exactly why it is so hard to replicate and why customers trust it for systems where failure is not an option.”

Investors are taking notice, and the stock is up nearly 23% on Thursday, after a massive earnings beat and a revised upward guidance. Meanwhile, sell-side analysts are falling over themselves to praise BlackBerry’s mission-critical infrastructure for the artificial intelligence boom.

One thing to note is that BlackBerry’s physical devices were so popular among governments and executives because they were secure and unhackable. Their encryption relied on the same fundamental math and cryptographic principles used by modern cryptocurrency. Of course, the way the company applied that math served a different purpose entirely.

Now, it has evolved to provide similar security for AI systems. While QNX isn’t exactly the same system as it used before, the software still relies heavily on the same cryptography library.

So now, BlackBerry, too, is part of the AI trade.

Bitcoin Sparks $600M Hourly Liquidations With $65,000 Set To Become Resistance

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Bitcoin Sparks $600M Hourly Liquidations With $65,000 Set To Become Resistance

Bitcoin (BTC) hit new 21-month lows at Thursday’s Wall Street open as high US inflation unsettled stock markets.

Key points:

  • Bitcoin returns to its lowest level since September 2024, dropping to $58,000.
  • US PCE inflation rocks equities, with the Nasdaq 100 shedding 2% in just 30 minutes.
  • BTC’s correction mirrors the price action seen throughout the 2022 bear market.

Crypto liquidations pass $600 million in an hour as BTC price drops

Data from TradingView showed BTC/USD dropping to $58,035 on Bitstamp — a level it last traded at in September 2024.

BTC/USD one-hour chart. Source: Cointelegraph/TradingView

The May print of the US Personal Consumption Expenditures (PCE) index came in at 4.1%, setting a new three-year record.

“From the preceding month, the PCE price index for May increased 0.4 percent. Excluding food and energy, the PCE price index increased 0.3 percent,” a data release from the Bureau of Economic Analysis (BEA) stated. 

“From the same month one year ago, the PCE price index for May increased 4.1 percent. Excluding food and energy, the PCE price index increased 3.4 percent from one year ago.”

US PCE one-month % change (screenshot). Source: BEA

Stocks reacted with volatility, with the Nasdaq Composite Index down 0.5% at the time of writing, while the S&P 500 managed to eke out a gain.

The Nasdaq 100, meanwhile, saw a larger snap decline of 2% in just 30 minutes at the open.

“What a chart,” trading resource The Kobeissi Letter responded on X.

Bitcoin itself sparked considerable long position liquidations, with CoinGlass putting the cross-crypto liquidation total at $600 million over a single hour.

Crypto liquidation history (screenshot). Source: CoinGlass

Commenting, market participants suggested that price moves were being artificially managed to squeeze positions.

“$BTC is in the manipulation phase,” pseudonymous trader Killa told X followers. 

“Every time $BTC trades sub-$60K, that is our manipulation beneath the significant $60K swing low on the weekly and quarterly. Precisely the reason why the orderbook is stacked below us.”

Source: Killa/X

Niels Klaver, cofounder of crypto platform STABL Agency, suggested that BTC/USD “seems to be going for its final leg down of this bear market.” 

“$55K remains the target,” he added, referring to an increasingly popular short-term price goal.

BTC/USDT one-week chart. Source: Niels Klaver/X

Bitcoin analysis sees new resistance near $65,000

As BTC price action attempted a modest rebound, trader and analyst Rekt Capital had already described $60,000 support as “clearly weakening.”

Related: BTC price four-year trend calls for $76K as analysis says Bitcoin ‘not broken’

“Once June Monthly Closes, we’ll know from which price July will be able to potentially spring into a post-breakdown relief rally,” an X post read.

BTC/USD one-month chart. Source: Rekt Capital/X

Rekt Capital maintained that the market was acting similarly to 2022, with the 50-month exponential moving average (EMA) tipped to become new resistance next.

BTC/USD one-month chart. with 50EMA. Source: Cointelegraph/TradingView

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