Rod Roudi/Bitcoin Commons
AUSTIN — On a Friday morning last spring, Mark Suman called out sick from his job as a senior engineering project manager at Apple and made his way downtown to a place called the Bitcoin Commons, a sort of clubhouse for enthusiasts of the world’s largest cryptocurrency, situated a few blocks south of the Texas State Capitol.
At the time, Suman was, in his words, “an active hobbyist,” tinkering with the technology in his spare time. “I actually played around with it a bit within Apple as well,” he says. “There’s not a lot I can say, other than we were always exploring new technologies, and so I was playing around with some of the open-source bitcoin tools within Apple and doing some exploratory work.”
Suman was there for the annual ‘Bitcoin Takeover’ event. He had followed many of the speakers online and when he saw the gathering pop up on his feed, he took the day off to see it for himself.
“I was sitting in the crowd wanting to get into the space and really build something new and build something novel,” Suman recalled.
What happened instead was the beginning of a professional pivot: he struck up a conversation with a developer after a talk at the Commons, and was introduced to other coders who were winding down a project called Mutiny. Within a few months, Suman handed in his notice at Apple and with the developers he’d met, pivoted into something bigger — co-founding Open Secret, a startup reimagining how user data is stored in the cloud. Instead of relying on centralized databases, the company encrypts data to each individual user — even after it’s uploaded. So if there’s a breach, there’s nothing to steal, Suman explained. No honeypot.
The leap was not without stakes.
“There are plenty of sleepless nights,” he said. “I’ve got a family, I’ve got kids, I’ve got a kid off at university.”
He had spent years working on privacy infrastructure — tackling tough technical problems around user protection at scale — but saw a way to do it better with blockchain. “Apple likes to talk a big game about privacy,” he says. “And having been there, I’ve seen very deep within a lot of their systems that they do care about privacy at every level.”
That vision — and the Commons — helped give him conviction. The builders there were all laser focused on creating something that mattered.
Inside Austin’s bitcoin clubhouse
Bitcoin Commons sits on the second floor of the Littlefield Building at the corner of Congress Avenue and Sixth Street — where the broad boulevard to the Capitol collides with the noisy sprawl of Austin’s nightlife district. It’s an apt metaphor for the space itself.
By day, it serves as a clean, open-plan coworking hub for bitcoin operators and builders. At night, it transforms into a gathering place for rogue developers and off-the-record meetups. Events here draw a blend of venture capitalists, open-source contributors, off-grid energy technicians, and Lightning engineers — developers who build software to make bitcoin faster and cheaper to use. On some afternoons, once happy hour hits, the kitchen in the back converts into a bar.
″Bitcoin is the most important technological innovation in any of our lifetimes, and it needs its due,” said Parker Lewis, one of the stewards of the Commons and the author of a new book on bitcoin called “Gradually, Then Suddenly.”
“And so while bitcoin has no CEO and no marketing team, we here at the Bitcoin Commons and Bitcoiners all over the world help educate people about bitcoin, why it’s important, what’s being built, and present a vision for the future,” continued Lewis.
“The vibe, it’s always high signal,” said Dan Lawrence, CEO of OBM, which manages energy use for industrial-scale mining farms. Lawrence said he was “thankful” that the U.S. government had become a little more pro-bitcoin under the new administration, but added, “No matter what happens anywhere, everybody here is always going to bleed bitcoin.”
This year, the Commons feels different — not because bitcoiners have changed, but because the world around them has. The mood is bullish. Strategic. Triumphant, even.
Bitcoin
’s price mirrored this optimism, surging to an all-time high of nearly $110,000 in January, coinciding with Trump’s inauguration. By early April, it had retraced to the low $70,000s before rebounding to nearly $85,000 as of Saturday morning — volatility that underscores the market’s sensitivity to political developments and investor sentiment.
Just a year ago, the vibe in the Commons was cautious. Even bitcoin — the asset largely spared by securities law — felt the chill of an aggressive regulatory regime. Developers were being arrested around the world. Wallet providers were being pressured. Open-source projects landed on sanctions lists. The question then was, who would be next?
Then came the election. Trump’s return to the White House brought with it a full-court press of pro-bitcoin policy moves. Within his first 100 days, he’d pardoned Silk Road founder Ross Ulbricht and three co-founders of the BitMEX crypto exchange, established a Strategic Bitcoin Reserve, and appointed a “crypto czar” to oversee the federal government’s digital asset efforts. Even skeptics found themselves nodding.
“I was in Nashville when Trump spoke,” Suman recalled of the Bitcoin 2025 conference in Tennessee, where Trump made his first major address to the crypto industry. “I wasn’t planning on going. But you know, when someone like that is in town, you go see it.”
Suman says he feels Trump has delivered on his promises to the crypto community for the most part. Still, he remains cautious. “I am not one who embraces politicians,” Suman said. “I’m kind of apolitical as far as which side. So I only trust them until I see how it’s actually playing out in our life. So far, I think it’s going well, but it could really change.”
Kevin Hurley, CTO at Lightspark, says Washington’s stance toward crypto appears to be shifting, with regulators like the SEC taking a less combative approach — moving away from lawsuits and toward clearer capital markets rules. “Hopefully now we’re actually going to have some clarity on what is and what isn’t a security, what can actually be done,” he said.
But even in a friendlier political climate, caution over government involvement remains a feature, not a bug, of the crypto community.
Joe Kelly, CEO of Unchained — a startup that helps clients store bitcoin securely by holding their own private keys — said it’s smart to be careful what you wish for when it comes to the U.S. government owning a lot of bitcoin. “That can go other ways,” he said.
To date, the government’s so-called Strategic Bitcoin Reserve has underwhelmed some digital asset advocates, since it’s limited to bitcoin previously seized in enforcement actions — not newly purchased assets or sovereign investment. Still, the administration has directed the Treasury and Commerce Departments to explore budget-neutral ways to acquire more bitcoin.
Kelly acknowledges a shift in the regulatory atmosphere, but he’s also wary of premature celebration, even with big market wins like the launch of exchange-traded funds that allow investors widespread access to bitcoin.
“If something like the ETF had launched too soon, I think it could have distracted from the people building on the actual technology itself,” Kelly said. “We’ve had the fortune that for most of Unchained’s life there wasn’t an ETF,” he added of the firm’s efforts to educate investors on how to store their crypto.
Source: https://www.cnbc.com/2025/04/12/apple-google-cash-app-alums-ditch-big-tech-to-build-on-bitcoin.html
