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first_img Better launches Bitcoin-backed mortgage product with Coinbase

Better Mortgage and Coinbase announced the full launch of their Bitcoin-backed mortgage product, allowing U.S. homebuyers to use Bitcoin as collateral for a down payment without having to sell it. This product combines Fannie Mae-supported home loans with independently secured down payment loans backed by Bitcoin, requiring borrowers to pledge Bitcoin worth at least 250% of the down payment loan. The pledged assets will be held in a Better custodial account on Coinbase Prime.Both loans enjoy the same interest rate and amortization period, repaid through a single monthly payment; the pledged Bitcoin will be returned after the mortgage is fully paid off or refinanced. A drop in Bitcoin prices will not trigger a margin call or change the loan terms, but if the borrower is 60 days overdue, Better has the right to liquidate the pledged Bitcoin. Borrowers must be U.S. residents and hold a verified Coinbase account, and Coinbase One members can enjoy up to $10,000 in 1% cashback.This product was first announced in March of this year and opened for early experience. Previously, the Federal Housing Finance Agency directed Fannie Mae and Freddie Mac in June 2025 to study the incorporation of cryptocurrencies into mortgage risk assessments; mortgage lender Newrez also announced in January that it would recognize certain cryptocurrency assets when evaluating mortgage applications starting in February.

first_img The Ethereum Foundation launches the better.codes challenge to advance the provable security of hash SNARKs

The open automated research challenge better.codes, created by the Ethereum Foundation's formal verification team in collaboration with Yukon and zkSecurity, is now live. This platform formalizes the self-contained problems from the Proximity Prize in Lean and places the machine-checked reliability bounds of koalaIRS12 on a public leaderboard, allowing anyone to contribute to improvements, advancing hash-based SNARK and post-quantum Ethereum-related security benchmarks.Solvers can bring their own AI agents to prove higher lower bounds of reliability for this Reed-Solomon proximity problem, moving towards a fixed target of 128 bits. The Lean kernel verifies each submission, and the promoted proofs will enhance the public bounds, with new lemmas, proof techniques, and impossibility results being synchronized upstream for reuse by all participants. Most hash SNARKs in production environments rely on related proximity gaps and related conclusion agreements, while the currently provable results remain below the benchmarks trusted by researchers; this challenge aims to narrow this gap in an open, incremental, and verifiable manner.koalaIRS12 originates from related papers and is end-to-end formalized in ArkLib. Participants can log in via GitHub and clone the challenge repository, submitting under fixed theorem statements and verification frameworks; results confirmed by the comparator and Lean kernel are recorded in a public repository, noting the solver and the model used. Today's launch features the reliability challenge that raises the proven lower bound of koalaIRS12 to 128 bits, with more problems potentially added later, subject to project terms.

Analyst: The nominal value of $2.14 billion in options will expire, with Bitcoin performing significantly better in both price and popularity compared to the last three months

According to data from Greeks.live, a total of 23,000 BTC options are set to expire, with a Put Call Ratio of 1.13, a maximum pain point of $76,000, and a nominal value of $1.74 billion. Additionally, 175,000 ETH options will also expire, with a Put Call Ratio of 0.94, a maximum pain point of $2,325, and a nominal value of $400 million.Greeks.live analyst Adam stated that this week's market fluctuations are small, with Bitcoin hovering around $78,000, and market sentiment gradually becoming calmer. The short-term RV has significantly decreased, combined with monthly settlements releasing nearly a quarter of the position margin, leading to a noticeable decline in the implied volatility of major expiration options this week. The major expiration IV of Bitcoin has fallen below 40%, while the major expiration IV of ETH has decreased even more, with short-term IV dropping below 50% and medium to long-term also falling below 60%. From the main options data, the Skew remains relatively stable, and the market's directional sentiment remains slightly bearish. This week, only 6% of options are expiring, with about 25% of positions at the end of the month and about 30% of positions at the end of June. Block trades are relatively inactive, all of which are signals of consolidation. In April of this year, Bitcoin performed significantly better in both price and popularity compared to the previous three months, but the altcoin market has seen limited recovery. Currently, the focus is mainly on Bitcoin, and trading altcoins will require further waiting.
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