Everything web3, crypto, defi, degen
In brief On-chain data shows the third major wave of whale profit-taking since mid-2024, joined by miner sell-offs after July’s all-time high. Options traders are bracing for a pullback, targeting 10–30% downside into September. Capriole’s Edwards says Bitcoin is “undervalued,” with Q4 seasonality historically favoring strong returns. Bitcoin is caught in a tug-of-war between profit-taking…
In brief Built for formal verification, Simplicity avoids recursion, loops, and global state. Simplicity runs on the federated Bitcoin sidechain, Liquid. The project aims to attract institutions with auditable contracts for finance, custody, and asset issuance. Bitcoin infrastructure company, Blockstream, is betting it can do what others have failed to do: bring working smart contracts…
In brief SEC Chair Paul Atkins announced numerous major policy initiatives the regulator is now undertaking to bring crypto activity back to the United States. New rules would greenlight many crypto-related practices previously discouraged or outright banned in the U.S. The rollout comes a day after the White House released its own crypto policy recommendations,…
In brief Vitalik.run is an endless roguelike runner with elements of Game Dev Tycoon, tracking Vitalik Buterin’s journey of creating and leading Ethereum. The developer called it educational in a “South Park way.” Players battle their way through creating the Ethereum whitepaper, the ICO craze, and avoiding World of Warcraft distractions. Despite being rooted in…
In brief Myriad Protocol has launched on Ethereum layer-2 network Linea. The “huge milestone” lays the groundwork for Myriad’s multichain expansion as it scales its userbase. Myriad’s prediction contracts will power a “new class of DeFi products,” as it evolves into a prediction markets protocol. Myriad Protocol, the multichain protocol designed to power prediction markets,…
In brief Bitcoin whales holding 10-10,000 BTC accumulated 0.9% of the total supply over four months, including 30,000 BTC over the past 48 hours. Despite whale buying, large-scale profit-taking occurred with one whale offloading $9 billion worth of Bitcoin through Galaxy Digital. Whales are expanding beyond Bitcoin into Ethereum, Solana, and select memecoins while the…
In brief Developers William Lonergan Hill and Keonne Rodriguez on Wednesday pleaded guilty to operate an unlicensed money transmitting business. The two—who set up Bitcoin mixer Samourai Wallet—had changed their pleas this week. They could face up to five years in prison. The founders of Bitcoin mixer Samourai Wallet face up to five years in…
In brief Ethereum celebrated its 10th anniversary on Wednesday, persevering through a decade of existential threats and evolution. Over the next 10 years, advocates believe the network will complete a spree of upgrades, improve layer-2 interoperability, and become the “settlement layer for everything.” Consensys pushed back on concerns that quantum computing could pose an existential…
In brief Biotech firm 180 Life Sciences is rebranding to ETHZilla and starting an Ethereum treasury. The firm is raising $425 million via a PIPE offering, and using proceeds to buy ETH. Shares are down more than 99% all-time, but finished the day up more than 10%. Publicly traded biotech company 180 Life Sciences is…
In brief Bakkt is selling the unit to Project Labrador as part of its shift toward becoming a pure-play crypto platform. The loyalty business only generated roughly $10 million in Q2 revenue, compared to more than $568 million from its crypto services. Analysts told Decrypt the pivot sharpens focus but won’t easily close the gap…
