Category: Business

DCTRL Vancouver: Iconic Bitcoin Hackerspace Closes Downtown Location After 12 Years Due to Zoning Changes

DCTRL, a Bitcoin hub and hacker space out of Vancouver, the fair-weather Canadian city, has announced the sunset of its downtown basement location, iconic among early adopters for its tinkerer mindset and hardware hacker culture. The community will be migrating to a new location in the coming weeks, and updates to the vision of the hub. The Vancouver Bitcoin community is renowned for having set up the first Bitcoin ATM in History, with DCTRL specifically having hosted a variety of renowned characters that, over the years, gave this industry much of its cultural and innovative flair.

Visited by some of the most influential people in the Bitcoin and broader Crypto industry in its 12 year run, DCTRL is far from done being a hub of the Canadian Bitcoin and Crypto scene. Preparing to move due to a change in zoning laws, plans to relaunch in a new location are in the works, as active members consolidate the historical moments, relationships, and lessons learnt during perhaps the longest-running Bitcoin hackspace experiment in the young industry’s history.

It all started at Waves cafe on Howe Street, in Vancouver. The Bitcoiniacs, a group of four OGs that operated a Bitcoin brokerage at the time — still active to this day — decided it was time to get the robots involved. So they rigged up an ATM to sell bitcoin to the public, rallied the local Vancouver tech, finance, and burgeoning crypto scene, and hosted a historical launch party.

“The first Bitcoin ATM in the world was a massive event,” said Freddie Heartline, a Bitcoin enthusiast and co-founding member of the DCTRL hacker space. In an exclusive interview with Bitcoin Magazine, Heartline went on to recall the event, saying, “Oh man, the vibes were incredible. It literally felt like a really good rave. But it was smarter. Way smarter. That’s how it all came about, actually.” referring to the founding of DCTRL.

The timing for the Bitcoin ATM event was perfect, it was October 2013 and bitcoin had just gone from a few dollars to almost 150, consolidated for a few weeks around 100 and was getting ready to take a shot at 1,000 a coin. The energy across the Bitcoin community as electric, this was the end of the longest bear market in Bitcoin history, in a way this rise in price was proof that Bitcoin was here to stay.

The launch of the first Bitcoin ATM, as a result, made national and international news. The idea of a Bitcoin ATM being operational was considered a historical milestone in the adoption of Bitcoin as money.

Tens of thousands of Canadian dollars worth of bitcoin were sold that day and over the coming weeks, likely creating a few millionaires over the years, spawning copycat ATM projects and even a handful of Bitcoin ATM manufacturing companies to boot. It also inspired the creation of the DCTRL hacker space, called “Decentral Vancouver” at the time.

Cameron Gray, another Bitcoin enthusiast who was volunteering with the Bitcoiniacs event and a friend of Heartline, was the one who had the idea. “Cam was absolutely an essential part of founding Decentral.” Heartline recalled “He literally turned to me one day – as he was operating the bitcoin ATM at Waves – after I complained about the lighting at the coffee shop – and said ‘we should open a space.’ And that was it.”

Soon, they had secured a basement location in downtown Vancouver, grimy, humid, but cozy. Over the years, this spot became a hub for Bitcoin engineers, founders, crypto enthusiasts, and eventually legends. The decor got better, the leaks patched, and the walls decorated with Bitcoin art. The empty spaces filled up with hardware of all kinds, modified to operate or somehow interact with the orange coin.

Heartline and Gray were starting a lifestyle project of sorts, and while Bitcoin may have been doing well at over $1,000, it would soon correct back to $300, another bear market, which had important consequences for the industry. During that time, the bills for DCTRL’s rent had to be paid somehow, and so Heartline moved in. Not into the basement, but onto the rooftop. In order to keep the lights on during that bear market, he literally set up a tent. Not a bad setup either if you have a look.

DCTRL started hosting meetups, the Vancouver Startup Weekend community got wind of it, and a gentleman known as Greg began to visit the hub. Soon enough, the Startup Weekend events were taking place at DCTRL as well, pulling in the local tech startup scene. Before long, even Vitalik Buterin, founder of Ethereum and former writer for Bitcoin Magazine, showed up.

Greg had another important contribution to DCTRL; he made a donation that created a symbol for the local community. He donated $500 to the space with one condition: “It has to be used for something creative …” Heartline recalled, “so I found a Pepsi machine on Craigslist. Greg even helped us move the thing in a pickup. Him, me, Cam, and Mike Olaff moved that fucking insanely heavy and awkward thing down the stairs – lol almost killing Cam.” The Pepsi machine would soon get backwards engineered, hacked, and rebranded to the Bepsi, for obvious Bitcoin reasons.

In the above video, you can see Greg making an on-chain transaction to the pop machine, milliseconds later dropping a soda for him on Q. The satisfying sound of Bitcoin being used as money for the small pleasures of life became a staple of DCTRL. A digital version of the Bepsi was eventually made, which fans from all over the world used to make donations. Many iterations of the underlying software took place over time, rig-wired into the Cold War era pop machine with a Raspberry Pi and some hacker ingenuity. A decade later, even the Mayor of Vancouver Ken Sim, dropped by to pay homage to this staple of Vancouver hacker culture, this time buying a soda from Bepsi with a lightning payment.

Today, the Bepsi supports practically every Bitcoin protocol, a testing ground for the cutting edge of Bitcoin technology, including protocols like Taproot Assets, Spark, and Arcade OS. “We even issued our own Bepsi token. One Bepsi equals one soda from the Bepsi machine… it’s like a stable coin… pegged to the price of the pop can.” said Heartline. The Bepsi, which in a way was inspired by the Bitcoin ATM, also inspired copycats, such as the 21up vending machine hosted in a nearby Blockchain lab known as MintGreen. To this day, funds collected by the Bepsi machine have gone to support the operation of the hacker space and cover costs, serving as a cornerstone of the community. Control over the Bepsi’s underlying wallets and tech stack in a way setting rank among the most active members and hosts.

Visited by Legends

Throughout the years, big names within the industry visited or engaged with DCTRL in one way or another. Vitalik Buterin personally visited the space and hung out there in the very early days of Ethereum, as demonstrated by this photograph hung on their wall, featuring Gray, Heartline, Vitalik, and another active member referred to as Kyle.

The founders of CaVirtex, the first Canadian Bitcoin exchange, were also photographed there. This brand is little known now as they were bought out by Kraken years later, but they had a deep influence on the Canadian Bitcoin scene, selling the coin to Canadians since before the first bull run, which peaked at $30 per coin. Without this exchange, many of the big Canadian Bitcoiners may not have gotten in.

Virtually, Bitcoin celebrities also attended DCTRL events throughout the years, answering questions from the local crowd, such as Roger Ver, before the fork wars, Andreas Antonopoulos, and Willy Woo. Erik Vorhees, who came to fame in Bitcoin for creating the first major instant swap, crypto-to-crypto exchange called ShapeShift, is seen in this video doing a fireside chat at DCTRL during a local meetup.

Even one famous scammer attended the hub, a man who was a regular in the Canadian Bitcoin scene in the 2014 era, and who to this day remains one of the unsolved mysteries of crypto-related crime, Gerald Cotten of QuadrigaCX. Cotten, whom I personally met multiple times in Toronto at the time, was a charming and smooth-talking entrepreneur in the scene at the time, before his turbulent professional history was revealed and the exchange went down in bankruptcy, leaving millions of dollars of user funds unpaid. Cotten allegedly died suddenly and mysteriously in India just before the exchange went bankrupt, taking the crypto keys with him, but many who were personally affected by this centralized exchange collapse are skeptical of that story.

Further evidence of DCTRL as a microcosm of the industry as a whole was seen years later during the fork wars, as Gray, the other primary co-founder of the hub, took the ‘big block’ side of the debate, resulting in intense debates and ultimately a falling out with the local community and broader Bitcoin scene. Gray, nevertheless, is highly respected and appreciated by the active members of DCTRL for his contributions to the DCTRL social scene, which would inevitably suffer from the same forks and tensions that the Bitcoin protocol went through at the time.

During those difficult times, DCTRL served as a forum and debate space for these topics, even hosting Peter Rizun of the alternative implementation Bitcoin Unlimited — a big blocker — who debated Taylor, seen on the right in the photo below.

Overall, DCTRL enjoyed more than 12 years of continuous operation, boasts hundreds of events hosted, over 1500 registered community members, and 69 recorded talks published on YouTube, which touched many elements of the Bitcoin and crypto industry. Throughout this whole time, the hub was operated entirely by volunteers and sustained through public donations and, of course, the Bepsi.

As the location of DCTRL gets rezoned by the city government, and a new building will be going up in its place, the active members and hosts of DCTRL, have begun organizing a transition to a new location, alongside an update to the brand and

According to DJ, one of the active members who prefers to stay pseudonymous, the hub has had record attendance in recent months. And while the location will change, its future is brighter than ever. Those who would like to be a part of the future of DCTRL can learn more at www.DCTRL.wtf.

This post DCTRL Vancouver: Iconic Bitcoin Hackerspace Closes Downtown Location After 12 Years Due to Zoning Changes first appeared on Bitcoin Magazine and is written by Juan Galt.

Ethereum price is down about 1.4% over the past 24 hours, extending its broader weakness. At first glance, this looks like a routine pullback inside a consolidation phase. But this decline did not appear randomly. It came right after a warning signal flashed on the daily chart, suggesting the recent recovery may already be losing steam.

What makes this moment unusual is the reaction from traders. Instead of reducing risk, leveraged long positions have surged past $1 billion. This creates a dangerous contradiction. The same conditions that are warning of a deeper drop are also attracting aggressive bullish bets. This disconnect could now decide Ethereum’s next major move.

Bearish Divergence And Supply Cluster Are Now Pointing To The Same Risk

The first warning sign appeared through a hidden bearish divergence on the daily chart. Between January 21 and February 25, the Ethereum price formed a lower high. This means the recent recovery was weaker than the previous rally, confirming the broader downtrend remains intact.

At the same time, the Relative Strength Index (RSI), which measures momentum strength, formed a higher high. This creates a hidden bearish divergence. This pattern usually appears during downtrends and signals that the recovery is only temporary, with the larger decline likely to continue.

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This signal becomes more important because Ethereum is already down about 32% over the past 30 days. That confirms the broader structure remains bearish. Now, on-chain data shows where this pullback could accelerate.

The Ethereum cost basis heatmap reveals a major support cluster between $1,870 and $1,890. Around 1.40 million $ETH was accumulated in this range. This level is important because it represents the average buying zone for a large group of holders.

These holders are still in profit at current prices. But if Ethereum falls into this zone while fear increases, many may sell to protect their gains. This could weaken support and allow the pullback to deepen.

This makes the divergence warning more dangerous as a key support lies nearby.

Whale Selling And $1 Billion Long Exposure Create A Dangerous Conflict

At the same time, large holders are starting to show caution.

Ethereum supply held by whales has dropped slightly from 113.41 million $ETH on February 25 to 113.39 million $ETH now. This is not a large drop, somewhere in the $40 million range, but it confirms that whales are no longer aggressively accumulating.

This matters because whale activity often signals future price direction. When whales stop buying or begin selling, it weakens market confidence. But derivatives traders are reacting in the opposite way.

Binance liquidation data shows cumulative long leverage has crossed $1 billion. Short leverage, in comparison, sits near $382 million. This means long exposure is nearly three times higher. Even more importantly, nearly $697 million of long leverage is concentrated near $1,870. Per the map, the risk starts developing if the $ETH price drops under $2,015.

This level aligns almost perfectly with the cost basis cluster starting near $1,870. This creates a high-risk situation.

If Ethereum falls into this zone, holders may begin selling while leveraged long positions are forced to close. These forced liquidations would push the price even lower and accelerate the correction. That risk could be the reason why whales have stepped back, for now.

But despite these risks, traders are still betting on a breakout. The reason becomes clear in Ethereum’s price structure itself.

Ethereum Price Structure Explains Both The $2,600 Hope And The Breakdown Risk

Ethereum’s recent price structure is creating the optimism that derivatives traders are betting on. On the 8-hour chart, Ethereum is forming a cup and handle pattern. This is a bullish structure that often appears before upward breakouts.

The handle is forming now as a consolidation phase, something that the traders might be considering as a lull before the breakout.

The neckline of this pattern is sloping upward. An upward-sloping neckline strengthens breakout expectations, provided the price can break past key resistance levels. The critical ones are now revealed by the technical projections.

If Ethereum breaks above $2,140, the pattern breakout hopes rise. While the neckline will still be at a distance, the hopes of a 17% rally toward $2,600 would surface. This upside potential possibly explains why traders continue opening long positions despite growing warning signs.

But this optimism depends entirely on Ethereum holding its support levels. If Ethereum falls below $1,990, weakness begins increasing, although the pattern still survives.

A drop below $1,890 would become much more serious. This level sits directly at the top of the cost basis cluster between $1,870 and $1,890. Losing this zone would weaken holder confidence and expose Ethereum to a deeper decline.

Below $1,820, the bullish structure would begin failing. If Ethereum falls below $1,790, the cup and handle pattern would be invalidated completely. This would remove the bullish setup and could trigger large-scale long liquidations.

That is why the same price structure attracting $1 billion in bullish bets is also sitting directly above the most dangerous breakdown zone. Recovery is still possible. But Ethereum must break above $2,140 first. Until then, Ethereum remains stuck between breakout hope and breakdown risk.

The post New Day, New Ethereum Price Warning — But Why Is $1 Billion Still Betting Higher? appeared first on BeInCrypto.

Binance received bad news from the US. A US judge rejected Binance’s arbitration request.

District Judge Andrew Carter of the Southern District of New York ruled that Binance does not have the authority to compel U.S. users to arbitrate for damages arising from cryptocurrency purchases made on its platform before February 20, 2019.

However, the judge ruled that the ongoing class action lawsuit would be heard publicly in federal court.

Therefore, customers who accuse Binance of selling unregistered tokens will be able to pursue damages claims arising before February 20, 2019, in court.

The judge, in his review, found that Binance unilaterally updated its Terms of Use in 2019, amending the terms to include a waiver of the right to arbitration and the right to class action, without notifying customers of this change.

The ruling also stated that there was no evidence that Binance had announced the arbitration order or explained to customers where this order could be found in its terms of use.

According to the judge, since the terms of use in 2017 did not include arbitration or class action waiver provisions, the changes made in 2019 cannot be applied retroactively to claims relating to periods prior to that date.

The class-action lawsuit known as Williams v. Binance was filed by five US investors from California, Nevada, and Texas, alleging that Binance and its founder, CZ, illegally sold unregistered securities and failed to register as brokerage firms. The lawsuit was dismissed in 2022, but in 2024 the US Second Circuit Court of Appeals remanded it back to the lower court.

In the retrial, Judge Carter rejected Binance’s request for arbitration, while Binance stated that the plaintiffs had voluntarily withdrawn claims arising after February 20, 2019, and that the company would continue to defend against the remaining claims.

This decision allows users to file lawsuits for damages incurred before February 20, 2019, and for the case to be heard publicly. Altcoins named in the lawsuit include ELF, EOS, FUN, ICX, OMG, QSP, and TRX.

*This is not investment advice.

LinkedIn founder Reid Hoffman’s cryptocurrency portfolio is back in the spotlight. According to data from the on-chain data platform Arkham, Hoffman holds approximately 3,078 Ethereum ($ETH) in known addresses.

Considering that Ethereum is priced at $2,028.89, the total value of these assets is approximately $6.25 million.

Hoffman’s portfolio includes not only $ETH but also a CryptoPunk NFT that he purchased for 150 $ETH late last year.

Hoffman’s former PayPal colleague, Elon Musk, prefers Bitcoin. Tesla, Inc., where Musk is CEO, and SpaceX have approximately $1.3 billion worth of $BTC on their balance sheets.

According to the data, SpaceX holds 8,285 $BTC, with a current value of approximately $558 million. Tesla, on the other hand, holds 11,509 $BTC, a position worth around $775 million.

Assuming Bitcoin is trading at $67,352, the two companies’ total $BTC holdings exceed $1.33 billion.

*This is not investment advice.