Everything web3, crypto, defi, degen
A little over a year ago, Moonbirds was a cautionary tale.The once-hyped Ethereum profile picture (PFP) project, launched in 2022 by Kevin Rose’s Proof to immense demand, had seen its reputation crater amid community backlash, ownership shakeups, and plummeting prices.Holders griped about broken promises, shifting roadmaps, and changing leadership. By mid-2023, the project’s floor price…
In brief Police have detained convicted drug trafficker Tomas Jirikovsky and seized assets in connection with a $45 million bitcoin donation to the Czech Ministry of Justice. The case, now focused on suspected money laundering and drug trafficking, was split from a broader probe disclosed in May. The scandal has fueled political fallout, including a…
In brief Crypto markets are in correction mode, as PPI throws cold water on the rally. But Cardano traders had other ideas today. ADA pumped while XRP, BTC, and ETH dumped. Here’s why, and what the charts suggest may happen next. Crypto volatility is back. But while most of the majors are pulling back, with…
In brief JPMorgan analysts said Ethereum offers exposure to the stablecoin boom. Growth in stablecoins is outpacing the crypto market itself, they wrote. Not long ago, analysts questioned the value of Layer-2 networks. Ethereum’s recent outperformance could continue as Wall Street begins issuing massive amounts of stablecoins within its ecosystem, JPMorgan signaled in a Thursday…
In brief Treasury Secretary Scott Bessent urged the Fed to consider a 50bps cut in September after weak job revisions and soft inflation data. July inflation came in at 2.7% year-over-year, slightly above expectations but reinforcing hopes for looser policy. Crypto markets rallied, with Ethereum hitting multi-year highs as traders priced in deeper rate cuts.…
In brief CoreWeave’s revenue has tripled while its order backlog grew, but losses persisted and operating margins compressed to just 2% from 20% a year ago. Shares fell by 10% after-hours as thinner margins and a bigger loss rattled investors. Observers flagged how depreciation of CoreWeave’s current hardware may mask losses, and rivals catching up…
In brief FTX investors have filed a lawsuit against Silicon Valley law firm Fenwick & West, accusing it of being “deeply intertwined” in the crypto exchange’s collapse. Of 130 firms that worked with FTX named in multidistrict litigation, Fenwick & West is the only one accused of having actual knowledge of FTX’s scheme and providing…
In brief Video platform Rumble is looking to expand by buying German AI cloud firm, Northern Data. The potential buy has backing from stablecoin giant Tether, which owns a controlling stake in the AI firm. Northern Data also said it would sell its Bitcoin mining business in a separate deal. YouTube rival and Bitcoin treasury…
In brief GPT-5 is fast, accurate, and cost-effective at code generation, beating most rivals in logic and technical tasks. However, with its relatively small context window, it’s weak in creative and right-brain output. It’s still a work in progress and will likely get better as OpenAI iterates with updates. OpenAI finally dropped GPT-5 last week,…
In brief Financial infrastructure firm ALT5 Sigma Corporation plans to sell 100 million of its shares to raise funds for a WLFI treasury. The shares will be priced at $7.50 each, and the sale is expected to close on August 12. The planned sale comes shortly after World Liberty Financial community members voted to make…
