Blockstream's reputation is in freefall.

First, they lost the plebs who used to ride for them.

Then the security community realized they weren't the adults in the room after all.

Political and moral authority? Gone in a few months.

And we're not even done with 2025 yet.

Watching a Bitcoin infrastructure giant lose credibility this fast is rare. When the plebs AND the security researchers both turn on you, that's a structural problem, not just FUD.