Happy Friday, and welcome back to the Blockspace newsletter!

For today’s letter, an exclusive with Fold’s new General Counsel Hailey Lennon 👀 Plus, state SBRs are moving forwards (and failing), and the ByBit hack gets a bit more clarity. It’s about a 3 minute read.

NiceHash has moved to Switzerland, offering institutional miners a secure, compliant, and transparent platform to manage and maximize their mining output– delivering the reliability and performance expected from the best mining pools. 

Fold Hires Hailey Lennon as General Counsel

On the heels of its public listing, Bitcoin financial services company Fold Holdings Inc ($FLD) has brought on Hailey Lennon of Brown Rudnick LLP  as General Counsel.

“I'm really excited to join Fold and guide the company through this new regulatory environment. On a personal level, I'm very aligned with the mission of building a gateway to bitcoin-based financial products and services,” Lennon told Blockspace.

Originally a gift-card-powered Bitcoin rewards app, the company has moved toward a full-stack financial services company. Fold launched with over 1,000 BTC in its corporate treasury. A Bitcoin rewards credit card is in the works, too.

A tenured name in crypto, she’s worked with numerous major players like Coinbase, Silvergate, and BitFlyer, helping them navigate the digital asset space and is regularly invited to speak at industry events like the Bitcoin Conference.

She joins as the regulatory pendulum swings back in the favor of digital assets. Compared to Biden’s Operation Chokepoint 2.0, Lennon says that the present day looks bright: "With the change in administration we've seen a shift in the regulatory acceptance of bitcoin as an asset class.”

Lennon says her role as general counsel will be initially focused on getting the company’s products to market:

"There is a lot of work to be done and a lot of Bitcoin-related products Fold intends to launch in the coming year. Fold is just getting started,” she added.

Lock in Your Mining Profits

Market volatility? No problem. Luxor’s Hashrate Derivatives let you hedge your earnings and secure stable cash flow. Take control of your mining revenue today.

Bitcoin news

SEC drops Coinbase lawsuit

Nearly 2 years later, the Commission files a joint stipulation to dismiss the ongoing civil enforcement action against Coinbase. “For the last several years, the Commission’s views on crypto have been largely expressed through enforcement actions without engaging the general public. It’s time for the Commission to rectify its approach and develop crypto policy in a more transparent manner,” Acting Chairman Mark T. Uyeda commented.

Oklahoma Strategic Bitcoin Reserve passes committee, Texas goes to Senate

The Oklahoma Bitcoin Strategic Reserve Bill HB1203 passes committee 12 to 3 and Texas’s SBR heads to the Senate. While over 26 states have filed various SBRs, the path to vote on the bills could significantly thin the pack. OK and TX look to be in the running as WY, PA, and SD fail in committee.

ByBit audit reveals Gnosis SAFE server compromise

An audit of the $1.5b ByBit hack by the North Korean Lazarus Group reveals that the SAFE servers were compromised and specifically targeted ByBit signers.

SEC states memecoins are “not securities”

Memecoins “have limited or no use” under U.S. Law and “do not need to be registered”, states the SEC. Meanwhile, $TRUMP continues to dump, down 70% off its all time high of $74

Recent Blockspace Pods