Bitcoin dropped below $70,000 this morning and the timeline is full of doom. Meanwhile, the builders just had one of the most productive weeks in Bitcoin's history. In this episode: Boltz launches non-custodial Lightning-to-USDT swaps with no accounts, no KYC. Strike's Business Line of Credit goes live in 43 states. Ark Labs integrates US banking rails into Arkade across all 50 states. Breez adds passkey login to its SDK, replacing seed phrases with biometrics. Square auto-enables Lightning for 4 million merchants. The Fed held rates at 3.50-3.75% while sitting on $39 trillion in debt. The dot plot projects just one cut in 2026. Powell says policy is "not following a fixed path." The math doesn't work in any direction. February PPI came in hot, the biggest rise in seven months. Services jumped 0.5% for the third straight month. Tariffs are starting to show up in the data and the Iran conflict is expected to accelerate it further. Energy prices are exploding as Iran's attack on Qatar's LNG infrastructure is described as "worse than Nord Stream." Global markets are in freefall. The Bank of England is threatening rate hikes while the Fed holds. Central banks are diverging. The Fed is quietly proposing revisions to Basel risk-weighting standards that currently treat bitcoin as a toxic asset. A change would open the door for banks to hold bitcoin without punitive capital requirements. Plus: The CIA's venture capital arm funded the technology behind Pokemon Go, and TFTC published the full investigation. Read the full written brief with all links and sources at tftc.io/bitcoin-brief