<?xml version="1.0" encoding="UTF-8"?><rss version="2.0"><channel><title>Ledger State — News &amp; Analysis</title><description>Ledger State reports on the plumbing of the crypto economy — Layer 2 scaling, node infrastructure, exchange policy and the regulation that shapes how blockchains are used.</description><link>https://lsat.tech/</link><item><title>A $17B Bitcoin and Ethereum options expiry looms into quarter-end</title><link>https://lsat.tech/news/a-17b-bitcoin-and-ethereum-options-expiry-looms-into-quarter-end-fmbw16/</link><guid isPermaLink="true">https://lsat.tech/news/a-17b-bitcoin-and-ethereum-options-expiry-looms-into-quarter-end-fmbw16/</guid><description>A large quarterly options roll-off in Bitcoin and Ethereum may reshape dealer hedging and volatility into year-end, with positioning rather than nominal value the key signal.</description><pubDate>Mon, 14 Sep 2026 23:00:12 GMT</pubDate><category>news</category><category>markets</category></item><item><title>BCE targets 1.2 gigawatts of Saskatchewan data center capacity</title><link>https://lsat.tech/news/bce-targets-12-gigawatts-of-saskatchewan-data-center-capacity-9tjlsu/</link><guid isPermaLink="true">https://lsat.tech/news/bce-targets-12-gigawatts-of-saskatchewan-data-center-capacity-9tjlsu/</guid><description>BCE plans to scale data center operations in Saskatchewan to 1.2 GW, a move that signals Canada&apos;s push to localize AI and cloud infrastructure.</description><pubDate>Mon, 14 Sep 2026 22:59:52 GMT</pubDate><category>news</category><category>technology</category></item><item><title>Aschenbrenner&apos;s AI fund is back in the market — and back in the red</title><link>https://lsat.tech/news/aschenbrenners-ai-fund-is-back-in-the-market-and-back-in-the-red-9uee8h/</link><guid isPermaLink="true">https://lsat.tech/news/aschenbrenners-ai-fund-is-back-in-the-market-and-back-in-the-red-9uee8h/</guid><description>Situational Awareness has reportedly rebuilt its AI and leveraged tech options exposure six weeks after a multibillion-dollar wipeout, and is already underwater again.</description><pubDate>Mon, 14 Sep 2026 18:22:40 GMT</pubDate><category>news</category><category>markets</category></item><item><title>HTX&apos;s $238M TRX reserve gap points to cross-exchange movement</title><link>https://lsat.tech/news/htxs-238m-trx-reserve-gap-points-to-cross-exchange-movement-rti7kk/</link><guid isPermaLink="true">https://lsat.tech/news/htxs-238m-trx-reserve-gap-points-to-cross-exchange-movement-rti7kk/</guid><description>A roughly 700 million TRX shortfall in HTX&apos;s June proof-of-reserves has drawn fresh scrutiny, with blockchain tracing showing part of the tokens moved to infrastructure tied to Sun-owned Poloniex.</description><pubDate>Mon, 14 Sep 2026 17:57:13 GMT</pubDate><category>news</category><category>security</category></item><item><title>How to Read a Regulation Before It Hits Markets</title><link>https://lsat.tech/blog/reading-a-regulation-before-it-hits-markets/</link><guid isPermaLink="true">https://lsat.tech/blog/reading-a-regulation-before-it-hits-markets/</guid><description>Crypto rules move slowly and then suddenly. A four-step method for reading proposed legislation and predicting which tokens and venues feel it first.</description><pubDate>Mon, 14 Sep 2026 00:00:00 GMT</pubDate><category>editorial</category><category>regulation</category></item><item><title>Why Node Operators Matter More Than Ever</title><link>https://lsat.tech/blog/why-node-operators-matter-more-than-ever/</link><guid isPermaLink="true">https://lsat.tech/blog/why-node-operators-matter-more-than-ever/</guid><description>As blockchains scale, the number of independent operators who verify the chain becomes a governance question as much as a technical one.</description><pubDate>Sun, 13 Sep 2026 00:00:00 GMT</pubDate><category>editorial</category><category>technology</category></item><item><title>What Layer 2 Fees Really Cost in 2026</title><link>https://lsat.tech/blog/what-layer-2-fees-really-cost/</link><guid isPermaLink="true">https://lsat.tech/blog/what-layer-2-fees-really-cost/</guid><description>Rollup fees have fallen sharply, but the full cost of using a Layer 2 includes bridging, withdrawal delays and liquidity fragmentation. Here is how to price it properly.</description><pubDate>Sat, 12 Sep 2026 00:00:00 GMT</pubDate><category>editorial</category><category>ethereum</category></item></channel></rss>