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Bitcoin Developers Plan OP_RETURN Removal in Next Release
The debate over Bitcoin’s OP_RETURN heats up, as developers of Bitcoin Core – the most popular node software – said they plan to scrap OP_RETURN entirely in the next release.
The OP_RETURN limit is an 80-byte cap on the amount of arbitrary data that can be embedded in a Bitcoin transaction using a special, unspendable output field.
“Large-data inscriptions are happening regardless and can be done in more or less abusive ways,” said Core contributor and Engineer at Blockstream Greg Sanders, known as ‘instagibbs,’ in a post on Github announcing the removal. “The cap merely channels them into more opaque forms that cause damage to the network.”
The debate centered on whether lifting the 80-byte OP_RETURN limit promotes transparency and simplifies data use on Bitcoin, or whether it opens the door to abuse, spam, and a shift away from Bitcoin’s financial focus.
On Github, Sanders added that enforcing the cap has created perverse incentives pushing users to embed data in fake public keys or spendable scripts. Removing the limit, he argues, “yields at least two tangible benefits: a cleaner UTXO set and more consistent default behavior.”
Not everyone is convinced. Core developer Luke Dashjr has long viewed inscriptions and other data storage as spam, and warned in April 2025 that this change was “utter insanity.”
Amid the controversy, Bitcoin Knots, maintained by former Core developer Luke Dashjr, has seen growing adoption, hitting approximately 5% share of all nodes.
Bitcoin Knots, a more customizable fork of Bitcoin Core, appeals to users seeking greater control over what their nodes relay or store, including allowing users to reject non-payment transactions like inscriptions.
Some prominent thought leaders in the industry, like Samson Mow, are encouraging node operators not to upgrade their version of Bitcoin Core, or use Knots instead.
Sanders defended the removal of the cap as aligned with Bitcoin’s ethos: minimal, transparent rules.
“By retiring a deterrent that no longer deters,” he wrote, “Bitcoin Core lets the fee market arbitrate competing demands.”
But that isn’t bringing much consensus.
“This marks a fundamental shift in the direction of Bitcoin,” one commenter warned on GitHub.
«This is the largest mistake Core can make at this juncture,» another on Github added. “I want to be on the record saying that.”
Crypto asset manager 21Shares has launched a new exchange-traded product (ETP) offering investors regulated exposure to the native token of Cronos, a Layer 1 network developed by Crypto.com, for Web3 applications.
The 21Shares Cronos ETP, which trades under the ticker CRON, is listed on Euronext Paris and Euronext Amsterdam. It carries a 2.5% annual fee and provides exposure to CRO.
The product allows investors to add CRO exposure to their portfolios through brokers and banks, without handling crypto wallets or exchanges.
This is the latest addition to the Zurich-based firm’s growing list of crypto-linked ETPs, which already cover various cryptocurrencies. The Swiss asset manager has also been moving to expand its offering in the U.S. with a recent S-1 registration form for a SUI ETF.
The price of CRO is down around 1.4% for the day, in line with a broader cryptocurrency market movement.
CoinDesk Indices presents its daily market update, highlighting the performance of leaders and laggards in the CoinDesk 20 Index.
The CoinDesk 20 is currently trading at 2654.32, down 2.2% (-60.12) since 4 p.m. ET on Monday.
None of the 20 assets are trading higher.
Leaders: BCH (-0.3%) and BTC (-0.8%).
Laggards: SUI (-7.7%) and AAVE (-7.5%).
The CoinDesk 20 is a broad-based index traded on multiple platforms in several regions globally.
Singapore-based developer of bitcoin mining ASIC chips and rigs Canaan (CAN) has had a rough run, but could be a five-bagger, suggests Benchmark analyst Mark Palmer.
Palmer on Tuesday initiated coverage of the ADRs with a buy rating and a $3 price target. The shares closed yesterday at $0.62, lower by 72% year-to-date.
Canaan’s dual strategy is focused on the development of ASIC bitcoin chips and rigs, and the expansion of its self-mining operations, especially in the United States, said Palmer.
«CAN’s vertically integrated approach differentiates it within the bitcoin mining space while positioning it to capitalize on both chip/rig sales and proprietary mining revenues,» he wrote.
Canaan’s push into home mining rigs has diversified the company’s revenue, he further noted.
The equipment maker is also growing its self-mining capacity in the U.S. and globally.
«While the company derived just 16.3% of its 2024 revenues from its self-mining operations, it intends to increase the total computer power driving its self-mining operations by mid-2025 to 10 EH/s in North America and 15 EH/s globally,» Palmer added.
Canaan has a stack of 1,408 bitcoin with a current value of around $133 million, or nearly 70% of its current market cap, said Palmer. That should be supportive of the company’s valuation.
Read more: Bitcoin Miners With HPC Exposure Underperformed BTC for Third Straight Month: JPMorgan
21Shares Launches ETP Linked to Crypto.com’s Cronos
CoinDesk 20 Performance Update: Index Drops 2.2% as All Assets Trade Lower
Bitcoin Mining Rig Maker Canaan Could Have 5X Upside, Says Wall Street Analyst
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