🇺🇸 UPDATE: Bitcoin Policy Institute urges changes to US tax rules that treat all Bitcoin payments as capital gains. https://t.co/ooPiKyDMcO ...

Core Insights - Square has expanded its partner ecosystem to nearly 1,000 partners in its Square App Marketplace and Square Specialists directory, enhancing its offerings for sellers [1][2] Group 1: Partner Ecosystem - The partners provide tools that sellers can access and integrate with Square to optimize their business operations [2] - Integrations include websites, booking apps, social channels, marketplaces, accounting, inventory management, fulfillment, operations, analytics, and expert support [3] - The ecosystem offers exclusive partner offers to sellers, aiming to empower local businesses through an interconnected platform [7] Group 2: Business Performance - Square's gross payment volume (GPV) increased by 12% year over year in Q3, with international markets growing by 26% compared to 9% in the U.S. [8] - The GPV from mid-market sellers now represents 45% of total GPV, indicating a shift in the company's market focus [8][9] - This trend reflects Square's strategy of upmarket expansion, moving away from its original focus on small merchants to a broader business operating platform [9] Group 3: Product Innovations - Square has extended its conversational AI assistant, Square AI, to the UK and expanded its partnership with Thrive for inventory management [10] - New features include AI-powered insights, voice ordering, bitcoin payments, and a mobile app tailored for small businesses [10]

Core Insights - Steak 'n Shake, owned by Biglari Holdings, reported a significant increase in same-store sales following the acceptance of Bitcoin payments, highlighting the "transformative power" of Bitcoin in enhancing business performance [1][2]. Group 1: Sales Performance - The fast food chain noted that its same-store sales have risen dramatically since the launch of Bitcoin payments nine months ago [2]. - The integration of Bitcoin into operations has been a key factor in driving sales growth [2]. Group 2: Employee Incentives - All Bitcoin sales are directed into a Strategic Bitcoin Reserve, which is utilized to fund employee bonuses [3]. - The company has introduced a BTC bonus for hourly employees at company-operated restaurants, which can be collected after a two-year vesting period [3]. Group 3: Market Performance - As of the latest data, Bitcoin was trading at $88,811.53, reflecting a slight increase of 0.12% over the last 24 hours [4]. - Biglari Holdings' shares closed at $396.75, down 0.48% on the previous trading day, but have increased by 19.35% year-to-date, indicating a strong price trend [4].

🔥 LATEST: Steak ’n Shake thanks bitcoiners after nine months of bitcoin payments boost sales and fund $BTC reserve. https://t.co/snZUVcczEP ...

RT Bitcoin Magazine (@BitcoinMagazine)JUST IN: Oklahoma introduces bill to allow state employees, businesses, and individuals to accept Bitcoin payments 🇺🇸 https://t.co/2HjQr4PVLM ...

RT Steak 'n Shake (@SteaknShake)Eight months ago today, Steak n Shake launched its burger-to-Bitcoin transformation when we started accepting bitcoin payments. Our same-store sales have risen dramatically ever since.All Bitcoin sales go into our Strategic Bitcoin Reserve.Today we increased our Bitcoin exposure by $10,000,000 in notional value.We have created a self-sustaining system — growing same-store sales that grow the SBR. Improving food quality expands Steak n Shake's reach and leverages Bitcoin into ...

BREAKING: Jack Dorsey’s Cash App just announced to launch instant #Bitcoin payments for its 58 million active users.BULLISH 🚀 https://t.co/L4yU8I33w2 ...

Market Trends & Crypto Performance - Crypto majors experienced declines following Trump's trade war confirmation; Bitcoin decreased by 1% to $111,100, Ethereum decreased by 1% to $4,040, BNB decreased by 1% to $1,170, and SOL decreased by 4% to $195 [1] - Gold increased by 1% to $4,260 [1] - Memecoin leaders mostly declined; DOGE decreased by 2%, Shiba decreased by 2%, PEPE decreased by 4%, PENGU decreased by 4%, BONK decreased by 4%, TRUMP decreased by 3%, SPX decreased by 5%, and FARTCOIN decreased by 4% [3] Regulatory & Institutional Developments - Erebor Bank, backed by Palmer Luckey and Peter Thiel, secured a conditional federal bank charter, aiming to operate as a stablecoin-era crypto bank under the GENIUS framework [1] - Sony Bank applied for a national trust charter to issue USD stablecoins and offer custody services [1] - Kraken acquired Small Exchange for $100 million, gaining a license to offer derivatives trading in the US [1] - The UK moved to repay Chinese victims of a $7 billion Bitcoin fraud [1] Token & Protocol Updates - Launchcoin decreased by 23% to $78 million after Pasternak announced plans to increase the token supply by 33% to 133 billion and a flywheel to buy BELIEVE [3] - MegaETH opened registration for a public ICO, open for 12 days [3] - Jupiter announced changes for its JUP token including scaling down the DAO, dropping unstaking window from 30 days to 7 and voting to burn current JUP buyback [3] - Tether's USDT0 and XAUT0 launched on Solana, powered by LayerZero [3] NFT Market - OpenSea announced that its Wave 1 is locked and Treasure Chests claimable by Oct 17 with $122 million in prizes; Wave 2 runs Oct 15 - Nov 15 with $1 million in tokens added to prize pool [3] - Plush Pepe 7 sold for 25,000 TON ($55,250) on Portals marketplace in Telegram [3] Corporate Treasury & ETF Flows - Bitcoin ETFs experienced $1041 million in net outflows on Wednesday; Ethereum ETFs saw $1696 million in net inflow [1]

Regulatory Landscape - U S Senator Cynthia Lummis is working on a de minimis tax exemption for Bitcoin payments [1]

Group 1 - Jack Dorsey, co-founder and CEO of Block Inc., is encouraging Square merchants to test Bitcoin payments, indicating a push towards integrating cryptocurrency into everyday transactions [1][2] - The Bitcoin payment functionality is in the final stages of testing and is expected to roll out in the second half of 2025, reaching all eligible Square merchants by 2026 [3] - Dorsey advocates for Bitcoin as a transactional currency, emphasizing its need to transition from a store of value to a medium of exchange, referencing the original vision of Bitcoin as a "peer-to-peer electronic cash system" [4] Group 2 - As of the latest data, Bitcoin (BTC) is trading at $115,364, down 0.68% in the last 24 hours, while Block shares increased by 0.58% in pre-market trading after a 2.42% rise during the previous trading session [5] - Block's stock shows a high growth score, reflecting strong historical expansion in earnings and revenue, which positions it favorably compared to other cryptocurrency-linked stocks [6]