Politically active people my age fondly remember conservative intellectual William F. Buckley hosting the wildly popular TV show, “Firing Line,” where he for years interviewed luminaries from across the political spectrum. He sparred with leftist Noam Chomsky about American imperialism, chatted with British Prime Minister Margaret Thatcher about the future of free markets, and talked to poet Allen Ginsberg about drugs and spirituality. Heady stuff. These lofty civil debates went beyond politics and delved into psychology, art and literature. The show reflected an emerging conservative movement that was clever and optimistic, and which preferred to out-argue opponents rather than “own” them. That era’s…

This week, crypto analytics company CryptoQuant challenged the prevailing narrative around Michael Saylor’s Strategy, urging the company to pause Bitcoin purchases and rebuild its cash reserves. The warning came after its dividend coverage fell to just 14 months from roughly seven years.Strategy isn’t facing an immediate cash crunch, but CryptoQuant’s warning puts the spotlight on the financing structure behind its Bitcoin strategy. With cash reserves shrinking and dividend obligations increasing, Strategy’s ability to keep funding new purchases is drawing closer scrutiny.The rest of this week’s Crypto Biz shows how the industry is evolving. CBOE is eyeing perpetual Bitcoin and Ether…

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