Here’s what happened in crypto today
Today in crypto, Jan3 founder Samson Mow says Bitcoin nation-state adoption is ramping up, an analyst says options and derivatives will take Bitcoin to $10 trillion market cap. Meanwhile, Vitalik Buterin has opposed the EU’s proposed Chat Control law, warning it undermines digital privacy and creates surveillance backdoors.Nation-state Bitcoin adoption to enter 'suddenly' phase soon: Samson MowAn increasing number of countries are preparing to ramp up Bitcoin adoption after moving past the initial skepticism, according to Jan3 founder Samson Mow.“I think we’re on the tail end of gradually, and we’re at the beginning phases of suddenly,” Mow told Danny Knowles on the What Bitcoin Did podcast published on YouTube on Saturday.“These things happen very quickly,” Mow said, referring to the potential for more countries to adopt a Strategic Bitcoin Reserve. “It’s like literally gradually then suddenly,” he said, adding:“I think it is simply a matter of time before we see a massive run-up, and we see a massive nation-state FOMO, you know, panic.”Mow emphasized that while US President Donald Trump has signed an executive order to set up a Strategic Bitcoin Reserve, the US still hasn’t started buying. Bitcoin options at all-time highs, derivatives will take BTC to $10 trillion — AnalystBitcoin options contracts and other financial derivatives will drive the Bitcoin market capitalization to at least $10 trillion, according to market analyst James Van Straten. Van Straten said that options and other derivatives are a sign of market maturation. These instruments help to cushion the high volatility inherent in BTC and other digital assets. He wrote in an X post on Saturday:“Chicago Mercantile Exchange (CME) options open interest is at an all-time high, partly driven by systematic volatility selling strategies like covered calls. This points to a more mature market structure with deeper derivatives liquidity around Bitcoin.”However, this reduced volatility works both ways, and limited BTC drawdowns also mean that upside will be limited in the future, Van Straten added.Vitalik slams EU’s Chat Control: ‘We all deserve privacy and security’Ethereum co-founder Vitalik Buterin has criticized the European Union’s proposed “Chat Control” legislation, warning that it threatens the right to privacy in digital communications.In a Saturday post shared on X, Buterin voiced opposition to mandatory surveillance measures that would require tech platforms to scan private messages for illegal content. “We all deserve privacy and security… for our private communications,” Buterin said.“You cannot make society secure by making people insecure,” he wrote, arguing that backdoors built for law enforcement are “inevitably hackable” and undermine the safety of everyone.The post was in response to another message by entrepreneur Pieter Levels, who urged Europeans to reject the regulation, warning that it could allow officials to access citizens’ personal messages.