BTC's Transparency & Verifiability Of Data
The Daily Crypto Update for Institutional Investors
President Donald Trump’s firing of the head of the Bureau of Labor Statistics serves as yet another moment for BTC proponents to underscore the asset’s core selling features - This time, the network’s transparency & verifiability of data
Last week, President Trump fired Erika McEntarfer over accusations that labour statistics had been manipulated. In a Truth Social post announcing the firing, President Trump wrote ‘[i]mportant numbers like this must be fair and accurate, they can’t be manipulated for political purposes.’
In April, when reports emerged that President Trump had discussed firing US Federal Reserve Chairman Jerome Powell, we wrote that the rift ‘underscore[s] one of BTC’s core selling points: the immutability and predictability of its inflation schedule.’ Similarly, Trump’s firing of McEntarfer and questioning of labour data may serve as an opportunity to highlight the BTC’s design regarding data transparency and verifiability.
Anyone, at any time, can access extensive data from the BTC blockchain without permission. For instance, on Monday, 726,065 addresses were active on the network, out of a total of 1.43B addresses. Addresses exceeding a balance of USD 1M worth of BTC totalled 168,526 while 793,823 transactions took place. These transactions transferred a total of 682,975 BTC, worth USD 78.40B. This data is accessible via numerous paid-for interfaces with the BTC blockchain such as Glassnode or Coin Metrics, while other platforms offer some of this data for free.
Bеsides the aforementioned economic data from the BTC blockchain, the asset has numerous a priori defined elements, namely its monetary policy. The supply of BTC that can be mined, diluting the current coins in circulation, is fixed at 21 million and follows a predetermined issuance schedule through halving events. This ensures a predictable and decreasing rate of inflation supply until ~2140, when all BTC will have been mined.
Takeaway: BTC’s transparent design and predictable monetary policy make it resistant to data manipulation. Anyone, anywhere, can verify its core metrics, allowing a broad and diverse set of participants to engage with the network. These actors do not need to ‘trust’ the relevant data but can instead verify it. Unlike the allegations of politically motivated manipulation like in the instance of the labour data, BTC offers users the ability to ascertain core information about the network with virtually full certainty.
CRYPTO HEADLINES
FRNT Financial Inc. (TSXV: FRNT) announced the closing of its previously announced non-brokered private placement offering, raising USD 2M. FRNT plans to use the proceeds to invest in a BTC treasury, additional marketing initiatives, and for working capital and general corporate purposes. - link - FRNT
Hong Kong's new regulations for stablecoin issuers became effective, allowing applications for licenses over the next three months. The Hong Kong Monetary Authority states firms can operate while pending approval until January 31, 2026, with under ten licenses expected to be approved. - link - @CoinDesk
President Trump is preparing to sign an executive order reportedly aiming to penalize banks for debanking crypto firms and individuals for political reasons. The draft order directs regulators to investigate alleged violations, remove contributing policies, and refer some cases to the attorney general. It may be signed this week or face delays. - link - @TheBlock
Strategy (NASDAQ: MSTR) bought USD 2.46B in BTC over the past week. This brings its total holdings to 628,791 tokens, now valued above USD 71B, following a combined funding of equity and debt sales. - link - @Bloomberg
Trump Media and Technology Group (NASDAQ: DJT) reported holding USD 2B in BTC and ‘related securities’ as of its Q2 2025 earnings. The company’s investments come on the back of a USD 2.4B private placement strategy to enhance liquidity, generate investment income, and insulate against political risk. - link - @DJT
Coinbase (NASDAQ: COIN) announced plans to privately offer USD 2B in Convertible Senior Notes. The offering is split equally into notes due 2029 and 2032, restricted to qualified institutional buyers. The notes will accrue interest semi-annually, be convertible into cash or shares, and proceeds may fund capped call transactions and general corporate purposes. - link - @COIN
Bullish plans to raise up to USD 629M through an IPO on the NYSE. The IPO involves 20.3M shares priced between USD 28-31 per share, potentially valuing the firm at USD 4.2B. According to an amended F-1 filing, funds managed by BlackRock and ARK Investment Management are interested in a USD 200M purchase. The company estimates Q2 net income of USD 106M-109M and holds over USD 3B in assets including 24k BTC and 12.6k ETH. - link - @CoinDesk
Figure Technology Solutions filed with the SEC to pursue a public listing later this year. The company, founded by former SoFi CEO Mike Cagney, focuses on blockchain-based real-world asset financing and recently announced a merger with Figure Markets. - link - @Figure
CrediX Finance, a Sonic-based DeFi protocol, experienced a USD 4.5M exploit less than a month after launch, leading to its website being taken offline. Blockchain analytics and audit firm CertiK reported that all stolen funds were bridged to Ethereum and split between three wallets. CrediX claimed user funds would be fully recovered within 48 hours. - link - @CoinDesk
Metaplanet (JPY: 3350) acquired an additional 463 BTC for JPY 7.995B (USD ~540M). The company now holds 17,595 BTC, which it acquired at an average price of USD ~100,525. - link - @Metaplanet
Non-custodial crypto wallet Phantom announced it acquired Solsniper, an AI Solana memecoin trading platform, for an undisclosed sum. The Solsniper web platform will remain standalone, with further feature updates planned. Earlier, Phantom raised USD 150M at a USD 3B valuation. - link - @Phantom
TOP ARTICLES
OPEN-SOURCE RESEARCH / LONG-READ OF THE DAY
Britain Missed The First Crypto Wave. We Can’t Miss The Second, George Osborne for FT, August 4, 2025
George Osborne, former Chancellor of the Exchequer and a member Coinbase’s advisory council discusses crypto regulation in the UK.
CRYPTO MULTIMEDIA
10 Years In, Here’s Why Aave’s Founder Isn’t Done Betting on Ethereum, Unchained Podcast, August 1, 2025
Stani Kulechov, founder of Aave, shares his outlook on ETH.
CHART OF THE DAY
A variety of BTC layer-2 and sidechain networks now hold USD 6.58B worth of crypto (total value locked, TVL), according DeFiLlama. BTC now ranks fourth in terms of TVL, behind Ethereum, Solana, and BNB Chain.
About FRNT Financial
FRNT: TSXV is an institutional capital markets and advisory platform focused on digital assets. FRNT aims to bridge the worlds of traditional and web-based finance. Business lines include deliverable trading services, structured derivative products, merchant banking, advisory, consulting and principal investments.