Everything web3, crypto, defi, degen
In brief Michigan’s House Bill 4087 advanced on Thursday, moving to the Government Operations Committee. The bill would allow up to 10% of state funds in cryptocurrency with strict security requirements. Michigan’s attempt is part of the inevitable state-level adoption pressuring neighboring states, Decrypt was told. Michigan’s stalled bid to create a state-run Bitcoin reserve…
In brief LayerZero extended PYUSD’s presence to nine additional blockchains. PYUSD0 tokens represent a bridged version of PayPal’s stablecoin. The stablecoin had a market capitalization of $1.3 billion on Thursday. PayPal’s PYUSD stablecoin expanded to nine new blockchains on Thursday after LayerZero, an interoperability protocol, unveiled additional support for the token in a blog post.The…
In brief A new paper argues that BTC-settled prediction markets could beat stablecoin-powered platforms by preserving Bitcoin exposure. It explores three liquidity bootstrapping methods and their risk profiles, favoring cross-market making. However, the author warns that volatility, hedging costs, and user risk perception remain major hurdles to adoption. Imagine placing a bet on whether a…
In brief Crypto markets have posted broad gains following the Federal Reserve’s quarter-point rate cut. Hyperliquid’s USDH stablecoin has been “attracting liquidity across the board from many institutions,” according to an analyst. The momentum now hinges on project-specific catalysts, with altcoins more exposed to volatility than Bitcoin, experts told Decrypt. Avalanche (AVAX) and Hyperliquid (HYPE)…
In brief Switzerland allowed Backed to avoid whitelisting xStocks. Tokenized Tesla shares have the largest supply. xStocks have roughly 30,000 unique holders. Balancing compliance needs against the open and accessible nature of decentralized finance ultimately brought Backed Finance to Switzerland, according to co-founder Adam Levi.The company was registered in the European nation because it allowed…
In brief CleanCore’s Dogecoin treasury added another 100 million DOGE. The firm now holds more than 600 million DOGE, valued at greater than $161 million. Shares in ZONE jumped as high as 7% at one point on Tuesday before falling into the red. Shares in publicly traded cleaning and disinfection company CleanCore (ZONE) jumped as…
In brief Google launched an open-source protocol to let AI agents handle financial transactions, backed by Coinbase, PayPal, American Express, and the Ethereum Foundation. The protocol expands Google’s Agent2Agent framework with payment support for cards, stablecoins, and real-time bank transfers, plus a crypto-specific x402 extension. The Ethereum Foundation says the effort aligns with its ERC-8004…
In brief The Ethereum Foundation is launching a dedicated “dAI team” to make Ethereum the foundation of AI development and bridge blockchain with AI industries. It has a near-term focus on the ERC-8004 standard enabling AI agents to transact seamlessly across Ethereum, which is debuting at November’s Devconnect conference. The long-term goal is to build…
OKX is making a push into Australia’s retirement market, despite crypto still being a notably small component.On Sunday, the exchange announced the launch of a platform for self-managed superannuation funds, or SMSFs.These private retirement vehicles allow individuals and small groups to manage their own savings directly, offering an alternative to the industry and retail funds…
In brief The startup beat out Paxos, Ethena, and others, with validators and prediction markets pushing odds to above 90% before the vote. Native Markets’ proposal splits reserve yield between Hyperliquid’s Assistance Fund and growth, with reserves managed via Bridge, BlackRock, and Superstate. The next test for USDH would be whether it could break the…
