Q3 update from incoming Stacks Labs CEO:

BTC yield up 72% over last 4 cycles post-SIP-45. More miners, better efficiency, stronger $STX/$BTC ratio.

Locked $STX jumped from 392M to 448M. 20M spike right before Bitcoin Bond 1 = economic loop working.

Anchorage, Fireblocks, Fordefi now support Bitcoin Bonds. Institutional custody = distribution at scale.

Bond 1 sold out. 21Shares, UTXO Management, HashKey all in.

New signers online: Ankr, The Tie, HashKey Cloud. Institutional-grade BTC capital markets infra.

Satoshi One upgrade live. 99.98% uptime. Minor signer delay but cleanest upgrade yet.

The loop is real: BTC yield rising while demand for $STX staking capacity climbs. More BTC deployed in upcoming bonds = things get spicy.

Focus: capital flows, growth, execution speed.