Rich Rines, Contributor to Core DAO, on Bitcoin DeFi, The Institutionalization of BTC, and Liquid Staking Bitcoin | Ep. 457

Rich Rines, an initial contributor to Core DAO and former lead of Coinbase’s money movement engineering, has been building and scaling Bitcoin-focused products for over a decade. As a self-taught engineer and entrepreneur behind ventures like Element Wallet and AutoReach, Rines is now at the forefront of Bitcoin DeFi — from dual staking to Europe’s first yield-bearing Bitcoin ETP.

In an exclusive interview with cryptonews.com, Rines shared why he believes Bitcoin will hit $200,000 before 2026, why institutional adoption is still in its infancy, and how Core DAO is unlocking new yield opportunities for Bitcoin holders.

Bitcoin at $200K? Why the Macro Picture Points Up

Rines is unapologetically bullish:

“I’ve been on record a few times saying that I think $200K plus will fall this year.”

For him, the setup is clear: fiat debasement is accelerating, a likely easing cycle is coming in early 2026, and structural market conditions are favorable. “We’re pretty well set up for fireworks,” he says. Above $112K, the chart has “pretty much air” — leaving room for aggressive upside.

Institutionalization of Bitcoin: Still the First Inning

Despite record ETF inflows, Rines says Wall Street’s Bitcoin play has barely begun:

“It’s still so early… Bitcoin is now accessible by everyone, legitimized, and part of the financial system. This is not going anywhere.”

He predicts the next 12–24 months will see an explosion of new Bitcoin products — from yield-bearing ETFs to a booming derivatives market that could be worth trillions.

The Untapped Potential of Bitcoin Treasuries

Corporate treasuries have yet to make their full move:

“Very few of these have actually started deploying into Bitcoin… There’s billions of dollars of bid that’s coming from these treasuries that will be permanent capital.”

Rines says many will seek passive yield to grow their Bitcoin per share — a problem Core DAO is built to solve.

Core DAO: From $1B TVL to the Leading Bitcoin DeFi Ecosystem

Core DAO has surpassed $1 billion in total value locked and launched the first non-custodial Bitcoin staking product. Its dual mission is clear:

“Our job is to be the second asset that Bitcoiners care about… the utility layer to unlock Bitcoin.”

The network offers both Bitcoin DeFi services and fully self-custodial staking, with no principal risk thanks to Bitcoin-native time locks.

How Core Generates Yield Without Counterparty Risk

Yield on Bitcoin has historically meant lending — and counterparty failures like BlockFi and Genesis have scarred the market. Core takes a different route:

“You time lock it on Bitcoin… you only have to trust Bitcoin.”

Stakers secure the Core L1, earn rewards in the Core token, and never give up custody of their BTC.

Dual Staking: Blending Bitcoin and Core Communities

Dual staking boosts rewards for those who stake both Bitcoin and Core tokens:

“If you just stake Bitcoin and no Core, you earn a lower rate. Stake more Core relative to Bitcoin, you earn a much higher rate.”

This model drives demand for Core, aligns both communities, and avoids the yield dilution that plagues other platforms.

Europe’s First Yield-Bearing Bitcoin ETP

In 2024, Core launched the first European Bitcoin ETP with native yield:

“This train has left the station… Why would Bitcoiners not want to be part of this to help shape it?”

The product offsets fees, enables structured products, and opens the door for similar offerings in Asia, the Middle East, and eventually the U.S.

LstBTC: Liquid Staking Bitcoin

Partnering with Maple Finance, Core is launching LstBTC, a liquid staking token that wraps the highest tier of Core’s dual staking yield (4–6% in BTC terms):

“It’s truly one size fits all — usable by both individuals and institutions.”

LstBTC is designed for DeFi and CeFi portability, while being backed by institutional-grade custody.

The Road Ahead: H2 2025 and Beyond

Core’s second-half roadmap is packed — from token launches and revamped DeFi protocols to platform upgrades, stablecoin and hardware wallet partnerships.

“We think it’s going to be the most exciting time in any Bitcoin ecosystem ever.”