Strike CEO Jack Mallers announces lending proof-of-reserves, volatility-proof loans, and backs Tether merger plan. April 29, 2026 - By Bitcoin Magazine - Original - Updated Jack Mallers of Strike announced new lending features and supports a merger with Tether, aiming to enhance Bitcoin lending services. Confidence: 80% Horizon: medium-term Key numbers. * $2.1 billion * 10.5% APR * 7.49% APR * 50 EH/s Market drivers (micro). * Introduction of lending proof-of-reserves * Launch of volatility-proof loans * Secured credit facility Context (macro). * Growing interest in Bitcoin-backed loans * Increased focus on transparency in crypto lending Who wins / who loses. * Winners: Borrowers seeking secure loans; Losers: Traditional lending institutions affected by crypto innovations. Scenarios. Base Strike successfully implements its new lending features, attracting more users and enhancing its market position. Alt The merger proposal faces regulatory hurdles, delaying the integration of services and impacting growth. What to Watch next. * Monitor the adoption of the lending proof-of-reserves feature * Watch for updates on the merger proposal * Track user feedback on volatility-proof loans Full analysis. Strike CEO Jack Mallers announces major updates at Bitcoin 2026 conference. At the recent Bitcoin 2026 conference, Strike CEO Jack Mallers unveiled a series of significant product updates and strategic initiatives aimed at enhancing the company's offerings in the Bitcoin lending space. Among the announcements was the introduction of a lending proof-of-reserves mechanism, designed to provide borrowers with the assurance that their collateral is securely held and verifiable on-chain. Mallers highlighted the launch of a new 'volatility-proof' loan structure, developed in partnership with Tether, which aims to mitigate the risks associated with forced liquidations during market downturns. This innovative approach allows users to borrow against their Bitcoin holdings without the fear of losing their collateral due to price fluctuations. In addition to these product enhancements, Strike has secured a $2.1 billion credit facility, which Mallers stated will enable the company to meet the growing demand for its lending services. This financial backing positions Strike to cater to loans of varying sizes, ensuring that it can support its clients effectively. Furthermore, Mallers expressed his support for a merger proposal put forth by Tether Investments, which seeks to combine Strike with Twenty-One Capital and Elektron Energy, a prominent Bitcoin mining operator. This merger aims to create a unified platform that integrates Bitcoin treasury holdings, mining operations, financial services, and lending, thereby streamlining operations within the Bitcoin ecosystem. Mallers articulated his vision for Strike, emphasizing the need to build a comprehensive Bitcoin company that transcends the limitations of being merely a payment application. He introduced a four-pillar model that encompasses financial services, Bitcoin infrastructure, capital markets operations, and a mergers-and-acquisitions function targeting profitable Bitcoin businesses. In conclusion, Mallers' announcements at the Bitcoin 2026 conference reflect a strategic shift towards creating a robust and multifaceted Bitcoin enterprise, with the potential to significantly impact the industry. As he aptly put it, "fix the money, fix the world."

Strike, a Bitcoin-based payments platform, has received a BitLicense and money transmitter licence from the New York State Department of Financial Services, enabling it to operate in one of America's most regulated crypto markets. The approval allows Strike to offer its services to New York residents and businesses. Built on the Bitcoin Lightning Network, Strike enables users to send money instantly, convert dollars into Bitcoin and pay bills directly from crypto balances. With the new licence, homeowners could potentially use Bitcoin holdings for recurring expenses including mortgage payments. The move follows Strike's November 2025 announcement of plans to introduce Bitcoin-backed lending. CEO Jack Mallers said the approval brings the company's mission to "the global centre of finance".