Top 5 things I’m doing in the first 30 days as CEO: (1) Expand the institutional BD machine. Bitcoin bonds are seeing increased demand. We want to shorten the time from first interest to going live. Speed matters. (2) Simplified leadership structure. Empower our rockstars and clarify what decisions I make. I’ll hear all input and then make quick decisions. We’ll move like a startup on fire. (3) Publish a 2-year roadmap, beyond bitcoin capital markets. How institutional-grade BTC privacy and post-quantum fit into our roadmap. We’re the frontier of bitcoin. (4) Public comms & investor meetings. I’m meeting large holders 1-1 and updating them on the latest thesis and traction. First public holders update call within 30 days. (5) Clarify value accrual. We’ll assign all IP to the endowment, which has no shareholders, making it crystal clear that all value accrues to STX. Publish value accrual mechanics: why bitcoin bonds fuel growth. I’ve been in this industry for 13 years, and I’m coming back at the helm as CEO. Building on the frontier of Bitcoin is my dream job. We’ll be building in public. Anyone can join us. The ticker is $STX.

Next stop Singapore 🇸🇬

Strong Q3 progress for STX. As the incoming CEO of Stacks Labs, I’ll start sharing frequent updates and hosting quarterly update calls. Quick summary typed here as we release a detailed Q3 blog later (speed matters). - There has been a 72.15% increase in BTC yield over the last 4 cycles. This is a result of SIP-45 activation that attracted more miners, increased mining efficiency, and strengthened STX/BTC ratio. - Locked STX increased from 392M (at the time of the Satoshi One upgrade) to 448M over 4 cycles. The 20M jump right before Bitcoin Bond 1 went live was especially interesting as it shows the economic loop working. - Anchorage announced support for Bitcoin Bonds, along with Fireblocks and Fordefi. Distribution to institutional clients through custody providers they already use is key. - Bond 1 sold out for capacity, with large institutions like 21Shares, UTXO Management, HashKey, etc. participating. - New signers like Ankr, The Tie, and HashKey Cloud came online — institutional infra providers for institutional-grade Bitcoin capital markets. - Satoshi One upgrade was successfully live. With 99.98% uptime. One small network delay as signers upgraded, but the best-executed network upgrade yet. The economic loop in (1) and (2) is especially interesting. BTC yield is increasing while bitcoin staking capacity demand (STX needed) is going up as well. As more BTC gets deployed in upcoming bonds, things could get really interesting. A lot more happened in Q3, but these were some highlights for me. We’ll release a detailed Q3 update blog soon. My focus is on capital flows, growth, and execution speed. Forward! (Typed with two thumbs on a Sat in Korea.) — Muneeb