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10,000 Austrian students petition to end mandatory fees funding abortions #Catholic More than 10,000 Austrian university students have signed a petition demanding that the Austrian National Union of Students (ÖH, by its German acronym) abolish its so-called “Repro Fund,” a program that uses mandatory student fees to finance abortions.The petition, organized by ProLife Europe in partnership with CitizenGo, was formally submitted on March 11 to the authorities responsible for administering the fund. Titled “No Student Funds for Killing Human Beings,” the initiative was launched after the ÖH introduced financial assistance for abortions through the Repro Fund.According to the ÖH’s published budget for the 2025-2026 academic year, 18,000 euros have been allocated to cover abortion costs, with plans outlined in the student union’s coalition agreement to expand the fund in the coming years.Petition organizers argue that the policy forces students to subsidize abortions regardless of their moral convictions.“The targeted financing of abortions is incompatible with the freedom of conscience of many students and represents an ethically absolutely indefensible decision,” the petition states.Mandatory student feesIn Austria, all university students must pay a mandatory contribution to the ÖH as part of their semester enrollment.If a student fails to pay the fee, enrollment cannot be completed. This means the student loses official student status for that semester and is barred from attending courses or taking examinations. Nonpayment also results in the loss of student accident insurance, which is normally included as part of enrollment.Because the ÖH contribution is embedded in the legal structure of university registration, students cannot opt out of supporting the organization or its programs, regardless of whether they agree with its political positions or spending decisions.Pro-life petitioners say this system effectively compels students to fund abortions through their mandatory contributions.Student mobilization exceeds expectationsMaria Czernin, president of ProLife Europe, told EWTN News that the petition’s response exceeded expectations in Austria, where public mobilization on civil issues is often limited.“For a three-month petition in Austria, this is a very strong result,” Czernin said. “People here tend to be more reserved in public campaigns, so reaching more than 10,000 signatures is significant.”Organizers initially hoped to gather around 8,000 signatures, she said, but the campaign surpassed that target before the petition closed.The ÖH, Austria’s national student union, is elected democratically by university students. As a result, the Repro Fund was introduced through decisions taken by the organization’s governing coalition.During campus outreach efforts linked to the petition, ProLife Europe volunteers spoke with students who did not identify as pro-life but nevertheless objected to the use of mandatory student fees to fund abortions.“We encountered students who were not pro-life, but they still felt that their money should not be used for this,” Czernin said. “That says a lot about how controversial this program is.”She added that the program remains relatively unknown across many Austrian universities. Organizers believe that if awareness of the funds were more widespread, opposition would grow further.A message to policymakersCzernin said the petition is also intended as a signal to Eva-Maria Holzleitner, Austrian minister for women, science, and research, whose ministry oversees higher education policy.“I hope this petition reaches Minister Holzleitner as a strong sign from students,” she said. “It shows that many students clearly stand against this cooperation and against using their mandatory contributions in this way.”Beyond the immediate funding issue, Czernin explained that abortion should not be promoted as a solution for students facing academic or financial challenges.“There is no evidence that abortion helps women finish their studies,” she said. “But there is substantial research indicating that abortion can negatively affect women’s mental health.”She added that many women have successfully completed their studies while continuing their pregnancies, explaining that support structures for student mothers would be a more constructive response to the pressures some students face.Austria’s abortion landscapeIn Austria, abortion is permitted during the first three months of pregnancy.The law does not formally declare abortion a legal right. Instead, it states that the procedure is not punishable if it is performed by a physician within the first trimester following a prior medical consultation.There is no mandatory waiting period and no requirement for counseling from an independent advisory service. The consultation requirement is limited to a discussion with a doctor before the procedure.Abortion services are generally not covered by Austria’s public health insurance system and must typically be paid for privately. Because of this, women are not required to be registered residents of Austria or enrolled in Austrian health insurance to obtain an abortion in the country.Abortions are also not subject to mandatory reporting requirements and personal information about women undergoing the procedure is not shared with authorities.

10,000 Austrian students petition to end mandatory fees funding abortions #Catholic More than 10,000 Austrian university students have signed a petition demanding that the Austrian National Union of Students (ÖH, by its German acronym) abolish its so-called “Repro Fund,” a program that uses mandatory student fees to finance abortions.The petition, organized by ProLife Europe in partnership with CitizenGo, was formally submitted on March 11 to the authorities responsible for administering the fund. Titled “No Student Funds for Killing Human Beings,” the initiative was launched after the ÖH introduced financial assistance for abortions through the Repro Fund.According to the ÖH’s published budget for the 2025-2026 academic year, 18,000 euros have been allocated to cover abortion costs, with plans outlined in the student union’s coalition agreement to expand the fund in the coming years.Petition organizers argue that the policy forces students to subsidize abortions regardless of their moral convictions.“The targeted financing of abortions is incompatible with the freedom of conscience of many students and represents an ethically absolutely indefensible decision,” the petition states.Mandatory student feesIn Austria, all university students must pay a mandatory contribution to the ÖH as part of their semester enrollment.If a student fails to pay the fee, enrollment cannot be completed. This means the student loses official student status for that semester and is barred from attending courses or taking examinations. Nonpayment also results in the loss of student accident insurance, which is normally included as part of enrollment.Because the ÖH contribution is embedded in the legal structure of university registration, students cannot opt out of supporting the organization or its programs, regardless of whether they agree with its political positions or spending decisions.Pro-life petitioners say this system effectively compels students to fund abortions through their mandatory contributions.Student mobilization exceeds expectationsMaria Czernin, president of ProLife Europe, told EWTN News that the petition’s response exceeded expectations in Austria, where public mobilization on civil issues is often limited.“For a three-month petition in Austria, this is a very strong result,” Czernin said. “People here tend to be more reserved in public campaigns, so reaching more than 10,000 signatures is significant.”Organizers initially hoped to gather around 8,000 signatures, she said, but the campaign surpassed that target before the petition closed.The ÖH, Austria’s national student union, is elected democratically by university students. As a result, the Repro Fund was introduced through decisions taken by the organization’s governing coalition.During campus outreach efforts linked to the petition, ProLife Europe volunteers spoke with students who did not identify as pro-life but nevertheless objected to the use of mandatory student fees to fund abortions.“We encountered students who were not pro-life, but they still felt that their money should not be used for this,” Czernin said. “That says a lot about how controversial this program is.”She added that the program remains relatively unknown across many Austrian universities. Organizers believe that if awareness of the funds were more widespread, opposition would grow further.A message to policymakersCzernin said the petition is also intended as a signal to Eva-Maria Holzleitner, Austrian minister for women, science, and research, whose ministry oversees higher education policy.“I hope this petition reaches Minister Holzleitner as a strong sign from students,” she said. “It shows that many students clearly stand against this cooperation and against using their mandatory contributions in this way.”Beyond the immediate funding issue, Czernin explained that abortion should not be promoted as a solution for students facing academic or financial challenges.“There is no evidence that abortion helps women finish their studies,” she said. “But there is substantial research indicating that abortion can negatively affect women’s mental health.”She added that many women have successfully completed their studies while continuing their pregnancies, explaining that support structures for student mothers would be a more constructive response to the pressures some students face.Austria’s abortion landscapeIn Austria, abortion is permitted during the first three months of pregnancy.The law does not formally declare abortion a legal right. Instead, it states that the procedure is not punishable if it is performed by a physician within the first trimester following a prior medical consultation.There is no mandatory waiting period and no requirement for counseling from an independent advisory service. The consultation requirement is limited to a discussion with a doctor before the procedure.Abortion services are generally not covered by Austria’s public health insurance system and must typically be paid for privately. Because of this, women are not required to be registered residents of Austria or enrolled in Austrian health insurance to obtain an abortion in the country.Abortions are also not subject to mandatory reporting requirements and personal information about women undergoing the procedure is not shared with authorities.

unitedyam March 11, 2026

Pro-life students are demonstrating against the “Repro Fund,” a program that uses mandatory student fees to finance abortions.

Ave Maria University to open campus in Ireland #Catholic Here is a round up of recent Catholic-education-related news:Ave Maria University to open campus in IrelandAve Maria University, a Catholic liberal arts university in Florida, is opening a new campus at a former monastery in rural Ireland, according to an announcement on its website.The new campus will be in County Waterford in the southern region of Ireland at the former Cistercian monastery of Mount Melleray near Cappoquin, the university announced in a video. The abbey closed in January 2025 after almost two centuries.The video announcement pledged that the new campus would be “a fully integrated Ave Maria University experience now embedded in the rich Catholic and cultural heritage of Europe.”Diocese of Brooklyn to close 7 struggling schools Seven Catholic schools will be closing in June in the Diocese of Brooklyn, New York, due to financial challenges and enrollment declines, the diocese announced Feb. 11.The seven schools closing are: Sacred Heart Catholic Academy, Cambria Heights; St. Bartholomew Catholic Academy in Elmhurst; St. Nicholas of Tolentine Catholic Academy in Jamaica; Incarnation Catholic Academy in Queens Village; St. Thomas the Apostle Catholic Academy in Woodhaven; St. Elizabeth Catholic Academy in Ozone Park; and Our Lady of Trust Catholic Academy in Canarsie.“Our responsibility is both pastoral and practical,” said Deacon Kevin McCormack, superintendent of schools for the diocese. “We will walk with our families and employees through this process while continuing to strengthen Catholic education throughout Brooklyn and Queens.”The enrollment decline has been ongoing since 2019, with a sharp decline from 2024 to 2025, according to the diocese newspaper.The diocese has a website to help families facilitate transferring to nearby Catholic schools.Thomas Aquinas College celebrates 100 alumni priestsA Catholic liberal arts college in California with an East Coast satellite location in Massachusetts celebrated its 100th alumni priest.Priest alumni of Thomas Aquinas College include 11 Benedictines, nine Dominicans, eight Norbertines, and 40 diocesan priests, among others, according to a Feb. 12 press release shared with EWTN News.Thomas Aquinas College has a combined enrollment of about 500 students and is designed to be an intentionally small community.“We are deeply honored to have played some small part in these men’s formation, and we pray for their ministry and witness as they serve Christ’s people throughout the world,” President Paul O’Reilly said in a statement shared with EWTN News.The four newest priests were ordained in 2024 at three separate ordination masses.

Ave Maria University to open campus in Ireland #Catholic Here is a round up of recent Catholic-education-related news:Ave Maria University to open campus in IrelandAve Maria University, a Catholic liberal arts university in Florida, is opening a new campus at a former monastery in rural Ireland, according to an announcement on its website.The new campus will be in County Waterford in the southern region of Ireland at the former Cistercian monastery of Mount Melleray near Cappoquin, the university announced in a video. The abbey closed in January 2025 after almost two centuries.The video announcement pledged that the new campus would be “a fully integrated Ave Maria University experience now embedded in the rich Catholic and cultural heritage of Europe.”Diocese of Brooklyn to close 7 struggling schools Seven Catholic schools will be closing in June in the Diocese of Brooklyn, New York, due to financial challenges and enrollment declines, the diocese announced Feb. 11.The seven schools closing are: Sacred Heart Catholic Academy, Cambria Heights; St. Bartholomew Catholic Academy in Elmhurst; St. Nicholas of Tolentine Catholic Academy in Jamaica; Incarnation Catholic Academy in Queens Village; St. Thomas the Apostle Catholic Academy in Woodhaven; St. Elizabeth Catholic Academy in Ozone Park; and Our Lady of Trust Catholic Academy in Canarsie.“Our responsibility is both pastoral and practical,” said Deacon Kevin McCormack, superintendent of schools for the diocese. “We will walk with our families and employees through this process while continuing to strengthen Catholic education throughout Brooklyn and Queens.”The enrollment decline has been ongoing since 2019, with a sharp decline from 2024 to 2025, according to the diocese newspaper.The diocese has a website to help families facilitate transferring to nearby Catholic schools.Thomas Aquinas College celebrates 100 alumni priestsA Catholic liberal arts college in California with an East Coast satellite location in Massachusetts celebrated its 100th alumni priest.Priest alumni of Thomas Aquinas College include 11 Benedictines, nine Dominicans, eight Norbertines, and 40 diocesan priests, among others, according to a Feb. 12 press release shared with EWTN News.Thomas Aquinas College has a combined enrollment of about 500 students and is designed to be an intentionally small community.“We are deeply honored to have played some small part in these men’s formation, and we pray for their ministry and witness as they serve Christ’s people throughout the world,” President Paul O’Reilly said in a statement shared with EWTN News.The four newest priests were ordained in 2024 at three separate ordination masses.

unitedyam February 14, 2026

Ave Maria University, a Catholic liberal arts university in Florida, is opening a new campus at a former monastery in rural Ireland. Learn more in this Catholic education news roundup.

Brooklyn Diocese to pursue ‘global resolution’ of more than 1,000 abuse cases #Catholic The Diocese of Brooklyn will pursue a broad settlement with more than 1,000 alleged victims of Church abuse, Bishop Robert Brennan said on Feb. 12, with a well-known California judge set to help mediate the process. Unlike many U.S. dioceses that have faced hundreds of sex abuse claims and tens of millions of dollars in settlement costs, the Brooklyn Diocese has not filed for bankruptcy. But the diocese launched a compensation program in 2017, which Brennan in his Feb. 12 letter said has already paid “over 500 victim-survivors more than $100 million.” The diocese now “intends to pursue a global resolution of all approximately 1,100 remaining cases,” Brennan wrote. “We will endeavor to resolve expeditiously all meritorious claims and to avoid the time, expense, and emotional strain for victim-survivors that would be caused by individual trials,” the bishop said. The diocese has consulted with attorneys representing abuse victims, he said. As well, Judge Daniel Buckley — a former judge of the Superior Court of Los Angeles County — will help mediate the process. Buckley has previously worked with the archdioceses of both New York and Los Angeles in mediating their own settlements. Massachusetts-based mediator Paul Finn will also work with the Brooklyn Diocese, Brennan said. Finn has mediated abuse settlements in Boston; Milwaukee; Rochester, New York, and elsewhere. Brennan said the Brooklyn Diocese will engage in “cost-cutting and setting aside significant funds to compensate victim-survivors,” a process he said will entail “difficult financial choices.” But “the diocese is committed to fairly compensating all meritorious claims,” he said. The diocese “continue[s] to pray for the victim-survivors, their families, and all others impacted by sexual abuse,” the bishop wrote. The news comes several months after the Archdiocese of New York revealed that it was aiming to raise more than $300 million for abuse survivors as part of its own “global settlement” with victims.The archdiocese initiated staff layoffs and a 10% reduction in the archdiocese’s operating budget, according to Cardinal Timothy Dolan, as well as the “sale of significant real estate assets.”

Brooklyn Diocese to pursue ‘global resolution’ of more than 1,000 abuse cases #Catholic The Diocese of Brooklyn will pursue a broad settlement with more than 1,000 alleged victims of Church abuse, Bishop Robert Brennan said on Feb. 12, with a well-known California judge set to help mediate the process. Unlike many U.S. dioceses that have faced hundreds of sex abuse claims and tens of millions of dollars in settlement costs, the Brooklyn Diocese has not filed for bankruptcy. But the diocese launched a compensation program in 2017, which Brennan in his Feb. 12 letter said has already paid “over 500 victim-survivors more than $100 million.” The diocese now “intends to pursue a global resolution of all approximately 1,100 remaining cases,” Brennan wrote. “We will endeavor to resolve expeditiously all meritorious claims and to avoid the time, expense, and emotional strain for victim-survivors that would be caused by individual trials,” the bishop said. The diocese has consulted with attorneys representing abuse victims, he said. As well, Judge Daniel Buckley — a former judge of the Superior Court of Los Angeles County — will help mediate the process. Buckley has previously worked with the archdioceses of both New York and Los Angeles in mediating their own settlements. Massachusetts-based mediator Paul Finn will also work with the Brooklyn Diocese, Brennan said. Finn has mediated abuse settlements in Boston; Milwaukee; Rochester, New York, and elsewhere. Brennan said the Brooklyn Diocese will engage in “cost-cutting and setting aside significant funds to compensate victim-survivors,” a process he said will entail “difficult financial choices.” But “the diocese is committed to fairly compensating all meritorious claims,” he said. The diocese “continue[s] to pray for the victim-survivors, their families, and all others impacted by sexual abuse,” the bishop wrote. The news comes several months after the Archdiocese of New York revealed that it was aiming to raise more than $300 million for abuse survivors as part of its own “global settlement” with victims.The archdiocese initiated staff layoffs and a 10% reduction in the archdiocese’s operating budget, according to Cardinal Timothy Dolan, as well as the “sale of significant real estate assets.”

unitedyam February 13, 2026

The diocese has already paid out more than $100 million to over 500 victims of abuse.

Diocese of Pittsburgh: 7 churches to close next month #Catholic The Catholic Diocese of Pittsburgh announced the permanent closure of seven churches, effective March 12.The decision was formally communicated to parishioners during Masses on Feb. 8 at St. Joseph the Worker Parish, where a letter from Bishop Mark A. Eckman was read aloud.In the letter, Eckman explained that St. Joseph the Worker Parish was established on July 1, 2020, through the merger of seven parishes serving communities in Braddock, Churchill, Forest Hills, Swissvale, Turtle Creek, Wilmerding, and surrounding areas.Since the merger, all eight church buildings initially remained open for worship. However, due to persistent declining Mass attendance and ongoing financial constraints, the parish has gradually reduced the number of active worship sites.After a yearlong review in 2025, including consultations with clergy, advisory councils, the facilities mission team, and parish senate sessions, it became clear that sustaining all current buildings was not feasible. Parishioner feedback was gathered through emails, phone messages, and meetings, with many acknowledging the challenges and the necessity for change.Father Michael Stumpf, the current pastor at St. Joseph the Worker, along with parish leadership, petitioned the bishop to close the church buildings of Good Shepherd, Madonna del Castello, Sacred Heart, St. Anselm, St. Colman, St. John Fisher, and St. Jude the Apostle.Eckman consulted diocesan officials in November 2025, who supported the rationale. He subsequently issued decrees approving the closures.St. Maurice Church in Forest Hills will remain the sole open worship site for the parish.Eckman acknowledged the emotional impact of the decision, noting that parishioners have invested years of faith, prayer, and service into the churches.“I recognize that this news brings a time of significant change and a sense of loss,” Eckman said in the letter. “For many years, you have poured your lives into these sacred buildings, strengthening your communities with holy faith, fervent prayer, and tireless service.”“We are a people of the Resurrection,” he said. ”And even in seasons of pruning, there is promise for new life. This decision is made with prayerful intent to better resource your parish, ensuring that the corporal and spiritual works of mercy may continue to reach the hearts of Braddock, Churchill, Forest Hills, Swissville, Turtle Creek, and Wilmerding for generations to come.”This announcement comes amid broader trends in the Diocese of Pittsburgh, including previous mergers and consolidations aimed at addressing similar demographic and financial pressures.

Diocese of Pittsburgh: 7 churches to close next month #Catholic The Catholic Diocese of Pittsburgh announced the permanent closure of seven churches, effective March 12.The decision was formally communicated to parishioners during Masses on Feb. 8 at St. Joseph the Worker Parish, where a letter from Bishop Mark A. Eckman was read aloud.In the letter, Eckman explained that St. Joseph the Worker Parish was established on July 1, 2020, through the merger of seven parishes serving communities in Braddock, Churchill, Forest Hills, Swissvale, Turtle Creek, Wilmerding, and surrounding areas.Since the merger, all eight church buildings initially remained open for worship. However, due to persistent declining Mass attendance and ongoing financial constraints, the parish has gradually reduced the number of active worship sites.After a yearlong review in 2025, including consultations with clergy, advisory councils, the facilities mission team, and parish senate sessions, it became clear that sustaining all current buildings was not feasible. Parishioner feedback was gathered through emails, phone messages, and meetings, with many acknowledging the challenges and the necessity for change.Father Michael Stumpf, the current pastor at St. Joseph the Worker, along with parish leadership, petitioned the bishop to close the church buildings of Good Shepherd, Madonna del Castello, Sacred Heart, St. Anselm, St. Colman, St. John Fisher, and St. Jude the Apostle.Eckman consulted diocesan officials in November 2025, who supported the rationale. He subsequently issued decrees approving the closures.St. Maurice Church in Forest Hills will remain the sole open worship site for the parish.Eckman acknowledged the emotional impact of the decision, noting that parishioners have invested years of faith, prayer, and service into the churches.“I recognize that this news brings a time of significant change and a sense of loss,” Eckman said in the letter. “For many years, you have poured your lives into these sacred buildings, strengthening your communities with holy faith, fervent prayer, and tireless service.”“We are a people of the Resurrection,” he said. ”And even in seasons of pruning, there is promise for new life. This decision is made with prayerful intent to better resource your parish, ensuring that the corporal and spiritual works of mercy may continue to reach the hearts of Braddock, Churchill, Forest Hills, Swissville, Turtle Creek, and Wilmerding for generations to come.”This announcement comes amid broader trends in the Diocese of Pittsburgh, including previous mergers and consolidations aimed at addressing similar demographic and financial pressures.

unitedyam February 11, 2026

Parishioners learned that seven churches will be closed in March due to financial constraints and lower Mass attendance.

Catholic digital assets company about to mint its first stablecoin #Catholic On March 15, a Catholic digital assets company known as Crescite Innovation Corporation will mint its first stablecoin, called Catholic USD.Stablecoins such as Catholic USD are a type of digital asset that is backed by and will have a 1-to-1 value equivalence with the U.S. dollar (and are not to be confused with cryptocurrencies like bitcoin).Catholic USDs can be used to make purchases from or donations to Catholic organizations the same way they would with any other payment method stored in smartphone wallets.Donations and other financial transactions can take place all over the world and will be nearly instantaneous, fee-free, and secure, thanks to blockchain technology, Eddie Cullen, co-founder of Crescite, told EWTN News.With blockchain technology, which has enabled the development of unregulated cryptocurrencies such as bitcoin and regulated digital assets such as stablecoins, traditional banks are no longer required to transfer or store money because all transactions are transparent and verifiable through the blockchain, which securely links together “blocks” of digital records.“Traditional banks are like Blockbuster video, and digital assets are like the streaming services we all use today,” Cullen said.“People will no longer need traditional banks, thanks to this new technology,” he continued.Cullen and his co-founder, Karl Kilb III, started Crescite “because we love the Church,” Cullen said. “We want Catholics to be at the forefront of this new technology, and we’re using it to enable greater access to resources for people and to do good.”“The only difference between us and banks is that they take your money and leverage it to make a profit,” Cullen said. “What we’re doing is we’re taking that leverage, and we’re giving it away to Catholic institutions and causes.”“We created Crescite to be at the intersection of faith and technology, using innovation to help those in need, and society as a whole,” Kilb said. “The Catholic community is global, with numerous organizations, projects, and causes that need sustainable, transparent funding, and we are leveraging blockchain technology to build such an ecosystem.”When a person buys Catholic USD, Crescite will invest that money in vehicles including U.S. Treasury bonds and will put 100% of that yield into a charity fund known as the Catholic Global Mercy Trust.The trust will fund Catholic poverty relief efforts, hospitals, schools, and other causes all over the world.“When we look at our work, it’s really a Catholic digital asset ecosystem,” Cullen said. “We have our stablecoin, and we are going to build upon that.”The money Crescite takes in through the sale of Catholic USD will be custodied, or held, in a digital wallet by a financial technology company known as BitGo, which in January completed its initial public offering (IPO) and began trading on the New York Stock Exchange. It is also chartered under U.S. law and authorized by the Office of the Comptroller of the Currency. BitGo is “the platform that’s issuing the stablecoin,” Cullen said. It and Crescite will have no intermingled investments.The funds Crescite holds are also insured.“Crescite” means to increase or grow in Latin. Cullen said he and Kilb, who co-own the company and founded it together in 2021, chose the name after reflecting on the effects of God’s touch on man-made things, as portrayed in the image of God’s hand touching Adam’s in Michaelangelo’s famous painting on the ceiling of the Sistine Chapel.Cullen said the name also refers to Genesis 1:28, when God tells Adam to “Be fruitful (increase) and multiply.”Bitcoin, the first cryptocurrencyThe first cryptocurrency, which is very different from the stablecoin Crescite is issuing, was bitcoin, which came out in 2009 and whose inventor or inventors, known as Satoshi Nakamoto, is/are still unknown.Bitcoin emerged as “pushback” to the 2008 financial crisis, according to The Catholic University of America Busch School of Business Professor Kevin May, who told EWTN News that consumers wanted something more “sound and reliable” than our current financial system after the crisis.Bitcoin is decentralized and is the only true “open source” cryptocurrency, according to May.Bitcoin’s inventors no longer had “trust in the current financial system,” where “the banks and bankers took bets; when they were right they privatized all the gains, and when they were wrong, they got bailed out and rebought their own shares,” May said. “Hardly any of them got in trouble” while the financial markets and consumers paid for their actions.The value of bitcoin has gone from several pennies at its initial launch to a high of 6,000 in October 2025. Currently, one bitcoin is valued at about ,000.Exchanges now exist where people can buy and sell bitcoin. There are even bitcoin-linked credit cards.Bitcoin, however, is a true cryptocurrency in that it is not insured or backed by any currency, and it is not regulated by the federal government, meaning it could collapse at any moment and investors could lose their money.A benefit of a cryptocurrency like bitcoin, according to May, is that it can “bank the unbanked, especially in societies where you cannot trust the leadership.”He used the example of a coffee farmer in Uganda who could trade in bitcoin and essentially have “his own bank on his cellphone,” without having to deal with a corrupt or inefficient system.The difference between ‘cryptocurrency’ and ‘digital assets’Digital assets like Catholic USD and cryptocurrencies such as bitcoin are alternatives to traditional financial institutions and government-backed currency made possible by blockchain technology.However, the terms “digital assets” and “cryptocurrency” mean different things: Digital assets refer to stablecoins as well as tokenized securities, commodities, and other digital representations of real-world assets that do not imply the unregulated, speculative trading or volatility inherent with bitcoin.Cullen explained that this is a major difference between bitcoin and stablecoins such as Catholic USD, which is actually backed by the U.S. dollar and will be regulated by the recently passed GENIUS Act, which is expected to increase the growth of and trust in stablecoins through clear regulatory rules.Other existing stablecoins include USD1, which, like Catholic USD, is also a U.S. dollar-pegged stablecoin (designed to maintain a 1-to-1 value with the U.S. dollar).USD1 was launched in March 2025 by World Liberty Financial, a decentralized finance (DeFi) platform and cryptocurrency venture closely associated with President Donald Trump and his family, though disclaimers emphasize that the Trump family are not officers or directors and that the cryptocurrency is not politically affiliated or endorsed.A company called Tether Unlimited issued a stablecoin, USDT, which is the longest-running and largest U.S. dollar-pegged stablecoin, launched in 2014 and with a market cap around 4 billion (as of early 2026). It holds roughly 60%-70% of the total stablecoin market share with 534 million users as of early this year.The GENIUS ActPassed with bipartisan support and signed into law by Trump in July 2025, the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act establishes a clear, regulatory framework that legitimizes payment stablecoins and digital asset infrastructure.It aims to preserve U.S. dollar leadership globally while allowing responsible private-sector innovation under defined guardrails.Under the act, qualified nonbank entities may issue payment stablecoins under federal or state supervision, while banks and affiliates may also participate. This dual pathway is intended to foster competition, reduce concentration risk, and avoid stifling innovation.Critics note the GENIUS Act does not fully address illicit finance risks in decentralized systems such as bitcoin, however.

Catholic digital assets company about to mint its first stablecoin #Catholic On March 15, a Catholic digital assets company known as Crescite Innovation Corporation will mint its first stablecoin, called Catholic USD.Stablecoins such as Catholic USD are a type of digital asset that is backed by and will have a 1-to-1 value equivalence with the U.S. dollar (and are not to be confused with cryptocurrencies like bitcoin).Catholic USDs can be used to make purchases from or donations to Catholic organizations the same way they would with any other payment method stored in smartphone wallets.Donations and other financial transactions can take place all over the world and will be nearly instantaneous, fee-free, and secure, thanks to blockchain technology, Eddie Cullen, co-founder of Crescite, told EWTN News.With blockchain technology, which has enabled the development of unregulated cryptocurrencies such as bitcoin and regulated digital assets such as stablecoins, traditional banks are no longer required to transfer or store money because all transactions are transparent and verifiable through the blockchain, which securely links together “blocks” of digital records.“Traditional banks are like Blockbuster video, and digital assets are like the streaming services we all use today,” Cullen said.“People will no longer need traditional banks, thanks to this new technology,” he continued.Cullen and his co-founder, Karl Kilb III, started Crescite “because we love the Church,” Cullen said. “We want Catholics to be at the forefront of this new technology, and we’re using it to enable greater access to resources for people and to do good.”“The only difference between us and banks is that they take your money and leverage it to make a profit,” Cullen said. “What we’re doing is we’re taking that leverage, and we’re giving it away to Catholic institutions and causes.”“We created Crescite to be at the intersection of faith and technology, using innovation to help those in need, and society as a whole,” Kilb said. “The Catholic community is global, with numerous organizations, projects, and causes that need sustainable, transparent funding, and we are leveraging blockchain technology to build such an ecosystem.”When a person buys Catholic USD, Crescite will invest that money in vehicles including U.S. Treasury bonds and will put 100% of that yield into a charity fund known as the Catholic Global Mercy Trust.The trust will fund Catholic poverty relief efforts, hospitals, schools, and other causes all over the world.“When we look at our work, it’s really a Catholic digital asset ecosystem,” Cullen said. “We have our stablecoin, and we are going to build upon that.”The money Crescite takes in through the sale of Catholic USD will be custodied, or held, in a digital wallet by a financial technology company known as BitGo, which in January completed its initial public offering (IPO) and began trading on the New York Stock Exchange. It is also chartered under U.S. law and authorized by the Office of the Comptroller of the Currency. BitGo is “the platform that’s issuing the stablecoin,” Cullen said. It and Crescite will have no intermingled investments.The funds Crescite holds are also insured.“Crescite” means to increase or grow in Latin. Cullen said he and Kilb, who co-own the company and founded it together in 2021, chose the name after reflecting on the effects of God’s touch on man-made things, as portrayed in the image of God’s hand touching Adam’s in Michaelangelo’s famous painting on the ceiling of the Sistine Chapel.Cullen said the name also refers to Genesis 1:28, when God tells Adam to “Be fruitful (increase) and multiply.”Bitcoin, the first cryptocurrencyThe first cryptocurrency, which is very different from the stablecoin Crescite is issuing, was bitcoin, which came out in 2009 and whose inventor or inventors, known as Satoshi Nakamoto, is/are still unknown.Bitcoin emerged as “pushback” to the 2008 financial crisis, according to The Catholic University of America Busch School of Business Professor Kevin May, who told EWTN News that consumers wanted something more “sound and reliable” than our current financial system after the crisis.Bitcoin is decentralized and is the only true “open source” cryptocurrency, according to May.Bitcoin’s inventors no longer had “trust in the current financial system,” where “the banks and bankers took bets; when they were right they privatized all the gains, and when they were wrong, they got bailed out and rebought their own shares,” May said. “Hardly any of them got in trouble” while the financial markets and consumers paid for their actions.The value of bitcoin has gone from several pennies at its initial launch to a high of $126,000 in October 2025. Currently, one bitcoin is valued at about $70,000.Exchanges now exist where people can buy and sell bitcoin. There are even bitcoin-linked credit cards.Bitcoin, however, is a true cryptocurrency in that it is not insured or backed by any currency, and it is not regulated by the federal government, meaning it could collapse at any moment and investors could lose their money.A benefit of a cryptocurrency like bitcoin, according to May, is that it can “bank the unbanked, especially in societies where you cannot trust the leadership.”He used the example of a coffee farmer in Uganda who could trade in bitcoin and essentially have “his own bank on his cellphone,” without having to deal with a corrupt or inefficient system.The difference between ‘cryptocurrency’ and ‘digital assets’Digital assets like Catholic USD and cryptocurrencies such as bitcoin are alternatives to traditional financial institutions and government-backed currency made possible by blockchain technology.However, the terms “digital assets” and “cryptocurrency” mean different things: Digital assets refer to stablecoins as well as tokenized securities, commodities, and other digital representations of real-world assets that do not imply the unregulated, speculative trading or volatility inherent with bitcoin.Cullen explained that this is a major difference between bitcoin and stablecoins such as Catholic USD, which is actually backed by the U.S. dollar and will be regulated by the recently passed GENIUS Act, which is expected to increase the growth of and trust in stablecoins through clear regulatory rules.Other existing stablecoins include USD1, which, like Catholic USD, is also a U.S. dollar-pegged stablecoin (designed to maintain a 1-to-1 value with the U.S. dollar).USD1 was launched in March 2025 by World Liberty Financial, a decentralized finance (DeFi) platform and cryptocurrency venture closely associated with President Donald Trump and his family, though disclaimers emphasize that the Trump family are not officers or directors and that the cryptocurrency is not politically affiliated or endorsed.A company called Tether Unlimited issued a stablecoin, USDT, which is the longest-running and largest U.S. dollar-pegged stablecoin, launched in 2014 and with a market cap around $184 billion (as of early 2026). It holds roughly 60%-70% of the total stablecoin market share with 534 million users as of early this year.The GENIUS ActPassed with bipartisan support and signed into law by Trump in July 2025, the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act establishes a clear, regulatory framework that legitimizes payment stablecoins and digital asset infrastructure.It aims to preserve U.S. dollar leadership globally while allowing responsible private-sector innovation under defined guardrails.Under the act, qualified nonbank entities may issue payment stablecoins under federal or state supervision, while banks and affiliates may also participate. This dual pathway is intended to foster competition, reduce concentration risk, and avoid stifling innovation.Critics note the GENIUS Act does not fully address illicit finance risks in decentralized systems such as bitcoin, however.

unitedyam February 11, 2026

Catholic entrepreneurs Eddie Cullen and Karl Kilb want to use new financial technologies to benefit the Catholic Church and its charitable work.

New York Archdiocese says longtime insurer waged ‘shadow campaign,’ posed as victims’ rights group #Catholic The Archdiocese of New York is arguing in state court that its longtime insurer has secretly been “waging a shadow campaign” and posing as a victims’ rights group in order to “undermine and weaken” the archdiocese amid an ongoing insurance dispute. In a Jan. 31 legal filing at the New York State Supreme Court obtained by EWTN News, the archdiocese said that Chubb Insurance — which the archdiocese sued in 2024 over an alleged failure to pay out financial claims for sex abuse victims — has for several years been “secretly” posing as the “Church Accountability Project,” allegedly encouraging abuse victims to “pursue claims against the [archdiocese].”The archdiocesan filing said the insurer has secretly run the website in order to “elevate Chubb’s own financial interests” and improve its leverage in the ongoing lawsuit. As of Feb. 4 the “Church Accountability Project” website prominently displays the Chubb logo at the top of its page. But archives of the website from around a year ago make no mention of the site’s alleged alignment with Chubb.“The Archdiocese of New York tolerated and covered up horrific sexual abuse against children for decades,” the older, un-branded version of the website states. The project said it was “committed to holding the Archdiocese of New York accountable.” The current version of the website contains partly similar language.A Chubb spokesman on Feb. 4 described the filing as “the latest desperate tactic to delay justice and distract from the decades of horrific child sexual abuse the Archdiocese of New York enabled and concealed.”“It’s quite telling that the archdiocese is more outraged about the facts coming to light on a platform we created than they are about the abuses they condoned, concealed, and covered up,” the statement said. “The archdiocese is delaying payment to deserving victims and failing to provide insurers needed information.”In 2024 amid the newly filed lawsuit against the insurer, New York archbishop Cardinal Timothy Dolan told the faithful that Chubb was “attempting to evade their legal and moral contractual obligation to settle covered claims which would bring peace and healing to victim-survivors.”The insurer in turn argued that the archdiocese “tolerated, concealed, and covered up rampant child sexual abuse for decades, and despite having substantial financial resources, they still refuse to compensate their victims.”In its Jan. 31 filing the archdiocese requested punitive damages against Chubb. It described the alleged “Church Accountability Project” maneuver as “wanton sabotage” and “just the latest in an example of the depths to which Chubb is willing to stoop.” The rebranded “accountability” website, meanwhile, alleges that the archdiocese “repeatedly refused to share crucial details regarding what they knew and when” regarding child abuse. “The insurance purchased by the archdiocese is designed to cover accidents, not to compensate for deliberately concealing a pattern of abuse,” the website says.

unitedyam February 4, 2026

The archdiocese alleged that Chubb Insurance posed as the “Church Accountability Project.”