Everything web3, crypto, defi, degen
In brief The deal raises roughly $231 million payable in BTC or SolvBTC, issued by Solv Protocol. Zeta says the transaction enhances its balance sheet and reflects confidence in Bitcoin’s fundamentals. The group touts the deal as a way to fuse Bitcoin’s scarcity with sustainable yield. Nasdaq-listed fintech firm Zeta Network Group has entered into…
In brief Crypto markets crashed last week, and Dogecoin has taken the hardest hit among major assets. While Bitcoin and Ethereum are still suffering following the sell-off, Dogecoin is faring far worse. Experts said that the coin is not finding enough use cases and may be facing an identity crisis. Following last week’s flash crash,…
In brief SharpLink Gaming said Thursday that it has sold $76.5 million worth of shares. The Ethereum treasury firm has amassed $3.37 billion worth of ETH, though has slowed its purchases of late. Leading Ethereum treasury company BitMine Immersion Technologies holds over $12 billion worth of ETH. Publicly traded Ethereum treasury company SharpLink Gaming, Inc.…
In brief Five men aged between 21 and 37 were arrested on Oct. 1 on suspicion of conspiracy to commit fraud. Police say victims may have lost more than a million pounds (£1 million / approx. $1.3 million) through the fake cryptocurrency schemes. The suspects have been bailed pending further enquiries as the investigation continues.…
By Arjun Sethi, Kraken co-CEO When the head of the International Monetary Fund says fiat is going digital and urges countries to accept reality, that is not a policy tweak. It is the moment the establishment admits that the world has already changed. For years, global institutions treated crypto as a novelty or a risk.…
In brief BNB shows a complex market structure with spot buying rising as futures selling increases. Open interest is down 36%, with declining CVDs pointing to active selling or profit-taking. Oracle issues and depegs at Binance have caused a “drop in confidence” according to analysts, adding short-term pressure to the token. BNB’s long-standing uptrend could…
In brief Bitcoin is in a critical confidence-rebuilding phase after last week’s liquidation cascade, Decrypt was told. Experts are divided, with some seeing a market bottom and others warning of persistent headwinds. Sustainable recovery depends on improved macro conditions and the return of institutional demand. Bitcoin’s latest pullback has cleared the decks for a potential…
In brief Zhimin Qian defrauded over 128,000 individuals in a fake investment scheme, stealing $6.8 billion and converting it into Bitcoin. The UK government seized it from 2018 to 2021, after Qian entered the U.K., and is now debating what to do with the funds. Prosecutors are considering creating a victim compensation scheme, but one…
In brief More than $19 billion worth of crypto positions were liquidated on Friday amid a flash crash. Market experts believe that increased amounts of leverage in crypto could be creating systemic risk, with leverage cascades potentially becoming a more common occurrence. It comes as Hyperliquid and Aster have made high levels of leverage more…
In brief Shares in Ethereum treasury firm ETHZilla fell more than 5% after it announced a reverse 1-for-10 stock split. Outstanding shares will shrink from around 160 million to 16 million when the split is effective next week. ETHZilla holds around 102,000 ETH valued above $400 million. Shares in publicly traded Ethereum treasury firm ETHZilla…
