Blockspace: AI & Bitcoin The Fed vs. Iran vs. BTC, Layoffs Sweep Crypto, Strategy’s $44 Billion Stock Offering
Mar 23, 2026
Ryan Gentry, CEO of Bitcoin Infrastructure Corp and creator of 402index.io, is a Lightning and machine-payments builder. He discusses machine-to-machine payments using Lightning and the evolution of L402. The conversation also covers recent crypto layoffs, the macro picture driving Fed hawkishness, and Strategy’s massive $44B stock filing.
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Iran War Shock Pushed Fed Hawkishness
- Geopolitical shocks in the Strait of Hormuz drove oil prices and spiked inflation expectations, forcing the Fed into a hawkish stance.
- Colin links Iran-driven oil moves to a surge in 12-month inflation expectations to 5.2% and a 30bp rise in 30-year yields since the war began.
Bitcoin Rallied While Gold Sold Off
- Bitcoin and gold decoupled during the risk-on move: Bitcoin climbed above $70k while gold sold off sharply after peaking near $4,100/oz.
- Charlie highlights gold's 10% weekly drop and Bitcoin touching $71–72k on the same risk rally.
Origin Story Of HTTP 402 And 402index
- Ryan recounts the origin of HTTP 402 payment required and its Lightning implementation L402 from LN Conf 2019.
- He traces evolution to Coinbase's X402 and Stripe/Tempo MPP, explaining his motive to build 402index.io to track endpoints.