Citrea’s Clementine Bridge and Bitcoin’s Surge Beyond $90,000
Citrea, a Bitcoin rollup project, has launched its Clementine Bridge on the Bitcoin testnet, leveraging BitVM2 to enhance BTC’s utility in decentralized finance (DeFi). Meanwhile, Bitcoin’s price has soared past $90,000, accompanied by a negative funding rate on Binance, signaling strong market momentum. This article explores these developments and their implications for the cryptocurrency landscape.
Citrea Deploys Bridge to Enhance BTC Use in DeFi
Citrea, a Bitcoin rollup project, has deployed its Clementine Bridge on the Bitcoin testnet. The bridge uses BitVM2 to verify layer 2s and sidechains, allowing for expanded decentralized finance (DeFi) options on Bitcoin. By providing a trust-minimized way to bridge BTC, Clementine aims to solve the bottleneck of using BTC in a programmable environment.
Bitcoin Rallying with Negative Funding Rate on Binance
Bitcoin’s price has surpassed $90,000, trading at levels not seen since early March 2025. Despite this impressive uptick, the funding rate on Binance remains negative, indicating that traders are not fully convinced of the rally’s sustainability. One analyst noted this divergence, highlighting that despite the rising prices, there hasn’t been a massive inflow or FOMO driving demand. With Bitcoin delivering a daily performance of nearly 5%, investors on Binance seem skeptical about the rally’s longevity.
Bitcoin Surges to $93K Amid Political Drama and Regulatory Changes
Bitcoin jumped to over $91,000 for the first time in nearly two months, reaching $93K. The surge came after Donald Trump’s latest jabs at the Federal Reserve and the appointment of Paul Atkins as the new head of the SEC. U.S.-based Bitcoin ETFs saw $381 million in inflows on Tuesday, the biggest single-day haul since January. It’s unclear if other cryptocurrencies like ETH, LTC, BSV, etc., were affected similarly.
Jack Mallers Named CEO of Bitcoin-Focused Twenty One Capital
Jack Mallers, founder and CEO of crypto payments firm Strike, has been appointed as the CEO of the newly formed Bitcoin-centric company Twenty One Capital. The announcement comes after Twenty One revealed a business venture with Cantor Equity Partners. Backed by Tether and SoftBank Group, Twenty One will launch with over 42,000 Bitcoin under management and aims to maximize BTC ownership per share for its investors, exploring opportunities in BTC-native financial products.
Riot Platforms Secures $100 Million Bitcoin-Backed Credit Line from Coinbase
Riot Platforms, a North American Bitcoin mining company, has obtained a $100 million credit line from Coinbase’s credit division. The facility uses 19,223 BTC, valued at over $1.8 billion, as collateral. The short-term credit will be accessed over a two-month period to support Riot’s strategic and corporate expansion plans. By choosing this funding route, the company avoids diluting existing stakeholder ownership.
