Bitcoin Developer Calls BRC20 “Spam,” Coinbase Launches Payments Product

Market Update Equities are flat after initially climbing following government data that showed labor market costs fell while productivity remained robust. Investors await confirmation from tomorrow’s jobless claims numbers, followed by nonfarm payrolls, wages, and unemployment rate on Friday. Long-term yields have fallen sharply after peaking near ~5% in October, with the 10Y and 30Y yielding 4.1% and 4.2%, respectively. $BTC has continued climbing, rising 0.6% to $43.9k. $ETH is underforming, falling 1.2% in USD, while the ETHBTC ratio has resumed its two-year downtrend, falling 0.54% to .0517 ETH per BTC. While ETH has been an underperformer as attention shifts to the potential BTC spot ETF approval, it is the only other crypto in the process for its own spot ETF, a fact investors could potentially focus on as the BTC decision dates approach. As BTC stalls around $44k, other large-cap tokens are starting to see a bid, with DOGE and AVAX up 7%, while AVAX gained 14% over the last day.Bitcoin developer and Ocean mining pool founder Luke Dashjr criticized inscriptions like Ordinals and BRC-20 tokens on the Bitcoin blockchain as "spam," arguing they exploit a flaw in Bitcoin Core. Despite his implementation of a fix in Bitcoin Knots, the broader community is divided. While some