Muneeb.BTC shared: Major news: We’ve raised 150 million dollars for a new entity to build the largest ecosystem of Bitcoin applications. Bitcoin can be a productive asset and final settlement layer for web3 apps.
I’m doubling down on Bitcoin and Stacks. The recent success of Stacks has shown how powerful smart contracts for Bitcoin can be. There is a tremendous opportunity to use BTC as a trillion-dollar productive asset and grow the Bitcoin economy. We’ve barely scratched the surface.
Along with JP Singh, a Princeton CS Professor, I’ve started Trust Machines to unlock the next chapter of Bitcoin apps. Building upon the success of Stacks, Trust Machines will build the apps and underlying tech to unleash the true potential of Bitcoin as a settlement layer.
Our initial funding comes from Brayer Capital, DCG, Golden Tree, Hive mind, USV, and others. Our investors believe in our thesis that Bitcoin is far more than a passive store of value; it can be a final settlement layer and platform for web3 applications.
I’m transitioning to Executive Chairman at Hiro, the developer tools company for Stacks. Hiro has a strong leadership team and a clear focus to build the best developer tools and APIs. Hiro APIs now serve 400M+ requests, and thousands of devs use Hiro tools.
I’m excited to welcome Alexlmiller as the new CEO of Hiro (from COO). Alex joined from Stack Overflow, where he grew the dev business before the $1.8B acquisition. diwakergupta who joined Dropbox earlier and led Stacks’ main net launch will be Hiro’s first CTO. Congrats!
At Trust Machines, we believe that Bitcoin will lead us into a new era of computing. Alan Turing’s work started with computer science. Now we’re going from Turing Machines to Trust Machines: computer programs where you don’t need to trust anyone.
Trust Machines will build upon the success of Stacks, create new Bitcoin apps, and contribute to underlying platforms, including Bitcoin itself. We’ll hire Bitcoin Core devs and unleash Bitcoin’s true potential for web3 apps. It’s time to build on Bitcoin!
Community Response: Why not add value to Stacks? Why a new entity?
Doubling down on Stacks. We’ll help build whatever improvements are needed to take Bitcoin apps to mainstream users!
So Trust Machines will develop on TOP of stacks? It sounds like another go at extending BTC directly esp if needs BTC core devs (not STX devs). This doesn’t read as pro-STX or HIRO – it sounds more like an STX alternative – needs clarification.
Doubling down on Stacks. We’ll help build whatever improvements are needed to take Bitcoin apps to mainstream users!
Is there going to be a trust machine token or something? Why create a new project? Why not create features within the stacks network?
I also don’t understand. Shall we disinvest from stacks?
No this will be built on top of stacks. So they’ll be dogfooding all the HIRO APIs with the rest of us. Expect the dev tools to be fixed. Congrats fantastic news!
What does it mean when you raise money from VCs? What are they getting in return? STX with a discount? Equity? What kind of structure? Thanks for clarifying mate. Equity in the new entity.
Will this new entity be operating on a bitcoin standard / developing any BTC-denominated revenue models? In a space with easy capital, endless new entrants & centralized DINOs… wise to bet on a combination of the hardest money (bitcoin) & folks like muneeb.
Who has been BUILDING open-source on BTC since the beginning?
Do you envision something like Maker being built on Bitcoin natively? I think much of “Defi” could be summarized as on-chain leverage using collateralized debt positions.
Nice. Just spent 30 minutes reading that entire page, questioning what it was you guys were doing until the very last sentences of the last paragraph. Me: *takes note: hire mystical buzzword sci-fi writer for pitch deck*.
“Bitcoin transforms trust” could not be truer and could not have more profound implications. Bring on this next stage in human civilization!
Look, there’s a reason why bitcoin is the only* large blockchain without Defi. It had the capital and the time. To have Defi, bitcoin needs to change. Add new opcodes, like STARK validation. *OK, maybe also Cardano.
Steven is a technology-focused writer with a strong interest in emerging digital trends and innovation. With experience spanning both travel and online projects, he brings a global perspective to his reporting and analysis. His work reflects a practical understanding of how technology, markets, and digital platforms intersect, offering readers clear insights into developments shaping the modern tech and crypto landscape.
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