Jack Mallers quit Twenty One, BitMEX is closing, Satsuma is liquidating, and Smarter Web sold Bitcoin. The old guard is packing up. Plus: BlackRock and Strategy funded Bitcoin's quantum defense, the Clarity Act cleared its last blocker, and Wise debanked Peter McCormack.

In this episode of Good For Bitcoin, Brandon and Kate discuss:

• Jack Mallers is out at Twenty One. He stepped down as CEO over a fundamental disagreement on how the company should generate real cash flow, and he's going all in on Strike. The merger floated in May never happened, and Twenty One holds no equity in Strike.
• BitMEX is shutting down September 23. HDR Global Trading is closing operations after a strategic review. Arthur Hayes' exchange invented the 100x perpetual swap that every exchange now runs, then watched its volume drain to the copycats.
• Treasury tracker, and it's grim: Strategy hasn't bought Bitcoin in over a month, adding $225M to USD reserves through an ATM sale instead (now $3.2B). Strive bought a symbolic 21 BTC (19,921). Smarter Web sold 178 BTC (2,700). Satsuma is winding down: shareholders voted to sell its 668 BTC, return the cash, and delist from London after a 99% collapse to 21 pence.
• The institutions finally showed up for Bitcoin security: Strategy, Coinbase, BlackRock, Fidelity, Block, Galaxy, and Blockstream pledged $15M over three years, aimed largely at quantum resistance, coordinated by Brink's Mike Schmidt. Strive also committed to funding open source devs via Brink. Kate's take: for BlackRock, $15M is a coffee.
• The Clarity Act's last blocker is gone. The White House says Trump agreed to sweeping ethics rules: covered officials can't issue digital assets and must sell their crypto or move it to a blind trust. Brian Armstrong says the bill is on the one-yard line. Again.
• Chokepoint 2.0 is still running in 2026. Wise debanked Peter McCormack over an invoice from a Bitcoin company and still has nearly £12,000 of his money. Isabella Santos was closed out and banned for life. Kate makes the case for self-custody.
• Stacks approved SIP-44 and SIP-45 with 99.99% in favor. Clarity 6 and Bitcoin staking hard fork around July 29, restacking runs through August, and the first protocol bond lands end of August.
• Worth your time: Presidio Bitcoin has six rolling spots for builders to spend one to three months in San Francisco, and Robin Linus and Casey Rodarmor host a Bitcoin show and tell space Sunday at 4pm ET.
• Follow the show on X: @goodforbtc.

Hosts:

• Brandon Marshall — @marshallmixing
• Kate Parkman — @katemparkman

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