Also: Citi on quantum computing and bitcoin, Jump Crypto’s Firedancer, and Vitalik Buterin on AI verification

Trump Media withdrew its bitcoin ETF filing as analysts pointed to fee pressure, weak demand and fierce competition in the crowded spot bitcoin ETF market.

In this week’s Crypto Long & Short Newsletter, Alec Beckman on why BTC-backed lending is not a crypto story, but a capital efficiency story. Then, Serena Sebastiani on how stablecoins aren’t a crypto product; they’re becoming the settlement infrastructure global finance forgot.