THIS IS HUGE FOR BITCOIN
Someone just bought a $4.2 million home using Bitcoin as collateral... without selling any Bitcoin. And it was backed by Fannie Mae.
While the timeline obsesses over short-term price action, Bitcoin is quietly moving from “store of value” into real collateral inside the $50 trillion US housing market.
@Ajwritescrypto Still pissed how they took my mans business. He was the entire fucking channel. How the hell boring ass TJ going to end up with it man.
I watched @LucaNetz’s recent interview, and you could genuinely see the frustration he had with the sentiment coming from the degens. The stress and toll it was taking on him were written all over his face. People screaming hate, throwing negativity at his name, and acting like the guy has never done a damn thing for this space.
Yes, @AbstractChain failed to live up to expectations. But did everyone suddenly forget the $100 million this guy put into our wallets just two years ago?
Crypto has become the ultimate “what have you done for me lately?” industry. People have incredibly short memories, especially when their bags aren’t pumping.
The guy has vision. He’s proven that. And I just hope he’s got thick enough skin to tune out the haters, keep building, and send @pudgypenguins to the fucking moon! 🚀🌕
Some of you need to learn the difference between holding someone accountable and tearing down someone who’s actually trying to build something.
Damn right! Say it louder for the people in the back! 👏
I watched @LucaNetz’s last interview, and you could genuinely see the frustration he had with the sentiment coming from the degens. The stress and toll it was taking on him were written all over his face. People screaming hate, throwing negativity at his name, and acting like the guy has never done a damn thing for this space.
Yes, @AbstractChain failed to live up to expectations. But did everyone suddenly forget the $100 million this guy put into our wallets just two years ago?
Crypto has become the ultimate “what have you done for me lately?” industry. People have incredibly short memories, especially when their bags aren’t pumping.
The guy has vision. He’s proven that. And I just hope he’s got thick enough skin to tune out the haters, keep building, and send @pudgypenguins to the fucking moon! 🚀🌕
Some of you need to learn the difference between holding someone accountable and tearing down someone who’s actually trying to build something.
Abstract is winding down.
Starting today, all of @IglooInc's focus will go towards taking Pudgy Penguins, Pudgy NFTs, and $PENGU to the next level.
When we acquired Frame in the summer of 2024, the vision was to build the blockchain for consumer crypto. Pudgy Penguins had shown us what it meant to reach the masses, and we believed we could bring that same approach to building a chain.
Abstract achieved a lot in a short period of time; we built the Portal and AGW, onboarded major global brands, amassed over 300 million transactions, and grew a vibrant onchain ecosystem.
The journey became stifled by the lack of a DeFi ecosystem, insufficient liquidity, minimal institutional cross-over, and prohibitively high costs that impeded growth in winning areas.
Unknown to most, Igloo, Inc. had been funding Abstract over the last 18 months.
After losing tens of millions of dollars over two years, building consumer products, assembling an all-star team, onboarding some of the biggest brands in the world, and building a community of millions, we still had not found product-market fit.
In combination with the market's reduced appetite for what we had built and not being able to find a scalable path forward, we could no longer justify taking from the Pudgy Penguins business.
Igloo, Inc. has always been a community-first company. Even after losing 8 figures, we could have launched a token or pursued an ICO.
Ultimately we decided against this. A token only works if there is something driving demand to it, and launching a token that we don’t have conviction in would have been a disservice to our community.
The entire team at Abstract has worked tirelessly with a tremendous amount of passion to make the consumer crypto vision come true. I cannot fault a single one of them for this outcome.
To the Abstract community, I want to thank all of you for sticking by our side on this long journey and for continuing to champion us. You supported us through all of the ups and downs, and I wish the result could have been different.
There will be many that will find satisfaction in seeing this shut down, and that is fine. I take a great amount of pride in having the ambition to venture into the chain business, notoriously one of the most difficult to make work, and the only regret I have is not being able to celebrate a win alongside the Abstract community.
As we wind down Abstract, our full focus shifts to making Pudgy Penguins into the global & cultural phenomenon I know it can become.
Return to Pudgy Penguins.
BTC $87K is now sitting above every major realized price:
• Realized price: $53K
• 155-day realized: $72K
• 2-year realized: $86K
A drop below $53K this cycle is off the table IMO. The “must retest realized price like every prior bear” thesis just lost its last clean setup.
We are in the rally now after the golden cross dump.
A rally to a higher high and weekly closes above the 50W SMA would materially weaken the bear case.
A rejection at these levels would still be in line with a bear market continuation
🇺🇸 BREAKING: SEC Chair Paul Atkins just released the crypto BULLS!!
If you hold $BTC $ETH $SOL you need to watch all 4 minutes of this!
The future of crypto in America looks like this:
🚨 Senate just blocked the Clarity Act. 🚨
📷The Senate voted 49–50 on a motion to even start debate on the Digital Asset Market Clarity Act. It needed 60 votes. It never got close.
This was the biggest crypto market-structure bill in years. It passed the House last year. It was supposed to draw a clear line between securities and commodities, split oversight between the SEC and CFTC, and finally give the industry a federal rulebook. It stalled on ethics.
Democrats wanted stronger limits so public officials — including President Trump, who reported more than $1.4 billion in crypto-related income last year — couldn’t keep profiting while writing the rules. Republicans added concessions. It wasn’t enough. No Democrat voted yes. A few Republicans voted no too.Result: no debate. No bill.
No new law this year, almost certainly.Crypto just lost its best shot at regulatory clarity before the midterms. Uncertainty is back. Markets already felt it. 📷