BCH

Bitcoin Cash

Block is now offering 5% Bitcoin cash back at Square merchants — a detail that quietly underscores just how far Jack Dorsey’s payments company has gone in tying its business to Bitcoin. The reward program was announced Monday in Las Vegas alongside a package of new features, with the centerpiece being a live proof-of-reserves system covering Block’s corporate Bitcoin holdings. Anyone Can Check The Numbers Block holds 8,883 Bitcoin on its balance sheet, valued at roughly $680 million. That makes it the 14th-largest corporate Bitcoin holder in the world. Through on-chain signatures, the company says any member of the public can independently confirm that those coins exist and are under active control. “People shouldn’t have to trust that their crypto is there, they should be able to verify it,” Block said in a post on X. The system covers not just the corporate treasury but also two of Block’s flagship products — Cash App and Square. https://t.co/pkLmTXnxkG — Bitcoin at Block (@BitcoinatBlock) April 27, 2026 The proof-of-reserves announcement came bundled with several other moves. Block launched a new Bitkey hardware wallet equipped with a touchscreen for verifying transactions. Cash App users will be able to have incoming payments automatically converted to BTC. Customer withdrawal limits were also raised sharply — up to $10,000 per day and $25,000 per week, five times the previous cap. A Standard The Industry Adopted After A Painful Lesson The wider push for reserve transparency traces back to the collapse of FTX in November 2022. After that failure shook confidence across the industry, exchanges and crypto firms began publishing proof-of-reserves as a way to show customers their funds were fully backed. Binance, Kraken, OKX, Bitfinex, and Bitget have all adopted the practice. Not everyone has followed suit. Strategy, the largest corporate holder of Bitcoin in the world, has not released any proof-of-reserves. In May 2025, executive chairman Michael Saylor said the practice was actually dangerous. According to Saylor, publishing reserve data “dilutes the security of the issuer, the custodians, the exchanges and the investors.” He called it “a bad idea.” Dorsey’s Broader Push For Bitcoin Payments Block’s announcements fit a pattern. Dorsey has long argued that BTC needs to become a functional payment tool, not just a store of value. He has said that wide adoption of Bitcoin payments is essential to preserving what he sees as Satoshi Nakamoto’s original intent — a peer-to-peer electronic cash system. The Las Vegas event showed that vision being pushed further into Block’s products. Auto-conversion of payments to Bitcoin, cashback rewards, higher withdrawal limits — each feature nudges everyday users closer to holding and spending crypto through Block’s ecosystem. Featured image from Pexels, chart from TradingView

BitcoinWorld Binance Suspends RIF Deposits and Withdrawals: Critical Rootstock Hard Fork Impacts Traders Binance, the world’s largest cryptocurrency exchange by trading volume, has officially announced a temporary suspension of deposits and withdrawals for Rootstock (RIF). This a...

A renewed conversation within the Bitcoin community has emerged, focusing on a contentious proposal to redistribute early Bitcoin holdings associated with the mysterious “Patoshi” pattern. This plan, put forward by Paul Sztorc, the CEO of LayerTwo Labs, suggests a bold hard fork ...

Bitcoin is facing a new ownership debate after developer Paul Sztorc proposed a hard fork tied to coins widely linked to Satoshi Nakamoto. The proposal comes while developers and analysts are already debating whether dormant Bitcoin should be frozen to reduce future quantum-computing risks. Satoshi-Linked Coins Enter Fork Debate Paul Sztorc, co-founder and CEO of LayerTwo Labs, has proposed a separate blockchain called eCash. The project would copy Bitcoin’s transaction history but change part of the ledger tied to early mined coins. The plan would reassign about 500,000 coins from the so-called Patoshi pattern. Researchers have long linked this early mining pattern to Satoshi Nakamoto, though ownership has never been formally proven. Sztorc said the change would support early investors in the new project before its planned launch. He said current Bitcoin holders would also receive eCash coins equal to their BTC balances at the fork point. The proposal does not move coins on Bitcoin’s main chain. Instead, it creates a new network with a modified history. Bitcoin developer Jameson Lopp described the move as a separate chain event, not a direct transfer of BTC. What It Means for Bitcoin Holders Bitcoin holders would keep their BTC on the original network if the fork proceeds. They would also receive matching eCash balances on the new chain, based on their Bitcoin holdings at the snapshot. The larger question is how markets respond to a chain built around reassigned Satoshi-linked coins. Some BTC holders may ignore the new asset, while others may sell or trade it once markets open. Bitcoin Cash launched in 2017 after a scaling dispute. Ethereum also split in 2016 after the DAO hack, although Ethereum Classic kept the original transaction history. Those past splits show how markets can separate original networks from breakaway chains. The original Bitcoin network would only change if the broader ecosystem adopted a hard fork with altered balances. Dormant Bitcoin Freeze Debate Adds Context The eCash plan arrives as Bitcoin developers debate whether long-dormant coins should be frozen to reduce future quantum risks. Some estimates place about 5.6 million BTC in wallets inactive for more than a decade. Supporters of defensive action argue that quantum computing could one day threaten older cryptographic signatures. They say inactivity may leave certain coins exposed if future machines can break early wallet protections. Critics say freezing any coins would weaken Bitcoin’s promise of unconditional ownership. They argue institutions bought Bitcoin partly because balances cannot be changed by policy decisions or social pressure. Market Reaction Could Depend on Adoption A reassignment on a separate chain would not directly alter Bitcoin’s ledger. However, it could still create market debate around Satoshi-linked supply, fork value, and the limits of developer-led changes. Analysts in the freeze debate have warned that any main-chain balance change could cause rapid repricing. They say funds with strict ownership and censorship-resistance mandates may reassess Bitcoin if protocol rules become flexible. The eCash plan may carry less direct risk because it does not require Bitcoin users to accept the new chain. Its market value would depend on users, exchanges, miners, developers, and liquidity after launch.

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Paul Sztorc's eCash hard fork plans to reassign nearly 500,000 dormant Satoshi-linked coins to investors, igniting community backlash.

The new fork might be coming straight for Bitcoin creator's wallet.

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