Everything web3, crypto, defi, degen
In brief DraftKings acquired prediction market company Railbird to launch its DraftKings Predictions app. The deal comes as prediction market volume surpassed $2 billion weekly for the first time. A source familiar with the company told Decrypt the app will initially focus on states without legal sports betting. DraftKings has acquired prediction market company Railbird…
In brief FalconX has agreed to acquire 21Shares, one of the largest crypto exchange-traded product providers, though terms of the deal remain undisclosed. The companies said the deal will combine their infrastructure and product capabilities across the U.S., Europe, and Asia. 21Shares will remain independently managed under FalconX, with CEO Russell Barlow continuing in his…
In brief Bitcoin is down 4% this month, defying its historical 19.84% average return for October. Analysts say on-chain data and failed rallies point to a continued correction phase. Sharp price swings reflect a market torn between institutional optimism and macro risks. Bitcoin’s recovery this week continues to lag, leaving most altcoin performances in the…
In brief Ethereum was up slightly, even after ETFs lost $145 million on Monday. The delayed U.S. CPI report, now set for October 24 due to the ongoing government shutdown, has become a key risk trigger. Bitcoin ETFs have rebounded faster than Ethereum funds, with institutions showing stronger confidence in BTC as its dominance remains…
In brief Coinbase acquired Echo, an onchain fundraising platform founded by crypto figure Cobie, for approximately $375 million. The acquisition brings Echo’s private investment tools and public token sale product Sonar into Coinbase’s ecosystem, having facilitated over $200 million across roughly 300 deals since launch. The deal complements Coinbase’s July purchase of token management platform…
In brief Solana founder Anatoly Yakovenko uploaded the code for a perpetual futures exchange to Github, but he says he isn’t developing the platform. Yakovenko invited other devs to steal his idea and wants to see more competition in the perpetual futures exchange sector. Despite the Solana founder pushing back, crypto degens still speculated on…
By Arjun Sethi, Kraken co-CEO The illusion of liquidity It happened in September 2019 when overnight repo rates spiked to 10%. It happened in March 2020 when Treasury markets seized and the world’s benchmark “risk free” asset had no bid. It happened again in March 2023 when regional banks failed and the Fed had to…
In brief Experts believe that some crypto traders are selling as they are following the classic four-year cycle rulebook. Historically, Bitcoin has followed a four-year cycle (with altcoins following suit), and believers are fearful a crash is looming. However, many analysts believe that the classic four-year cycle will be broken due to institutional adoption and…
In brief Market makers Wintermute and LO:TECH momentarily stopped trading amid last week’s $19 billion liquidation cascade. The pause came because their predefined trading rules were broken and they were forced to regroup, the market makers said. Wintermute told Decrypt that if the firm can “make markets in a safe, delta neutral way,” it will—but…
In brief Mt. Gox’s 2011 hack caused Bitcoin’s worst crash ever, plummeting 99.9% after hackers dumped stolen BTC for pennies. Major crashes stemmed from China bans, COVID-19 panic, and crypto platform collapses like Celsius and FTX. Trump’s October 2025 China tariff threat triggered a 13% drop and $19 billion in liquidated positions—but didn’t make the…
