• Bit Digital shifts focus to Ethereum.

• f(x) Protocol introduces sPOSITIONs.

• FHFA directs enterprises to consider crypto.

Bit Digital Inc. announced a strategic shift to focus exclusively on Ethereum staking and treasury operations, transitioning away from Bitcoin mining. The Nasdaq-listed company is now positioning itself as a pure-play Ethereum-native platform focused on staking and treasury management. The company has accumulated ETH since 2022 and holds over 24,000 ETH, worth approximately $44.6 million. Bit Digital plans to gradually convert its remaining Bitcoin holdings into ETH. To support the transition, the company has begun exploring strategic alternatives for its Bitcoin mining business, with proceeds redirected into ETH.

f(x) Protocol v2.1 introduced sPOSITIONs, a new way to take fixed-leverage short positions with minimal liquidation risk, a liquidation brake, and zero funding costs under normal conditions. sPOSITIONs are the short counterpart to leveraged longs xPOSITIONs and are executed and settled in a single atomic transaction. The implementation works by flash-borrowing a token, selling it for fxUSD on an AMM, using the total fxUSD as collateral, then borrowing the shorted token from the protocol’s long reserve and repaying the flashloan. The launch completes f(x) Protocol’s leverage system, combining its decentralized stablecoin fxUSD with both leveraged long xPOSITIONs and short sPOSITIONs.

The Federal Housing Finance Agency (FHFA) instructed Fannie Mae and Freddie Mac to begin considering cryptocurrency as a potential asset when assessing risk for single-family mortgage loans. As key players in the U.S. housing finance system, both enterprises are to develop methods for incorporating cryptocurrency as a reserve asset without requiring conversion to U.S. dollars. Initially, only cryptocurrencies that are verifiable and held on U.S.-regulated exchanges will be considered. The enterprises must also conduct comprehensive risk assessments that address market volatility and liquidity. The order was signed by William J. Pulte, Director of FHFA, and is effective immediately.

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