Everything web3, crypto, defi, degen
In brief Bitcoin, Ethereum, and XRP all continued a dayslong slump Friday, helping push crypto liquidations over the $900 million mark. The overwhelming majority of those liquidations, over $823 million worth, were of long positions. The downturn was due mainly to macro political and economic factors, including a poor U.S. jobs report, new sweeping global…
In brief Strategy’s co-founder Michael Saylor said the company could own 7% of the total Bitcoin supply in the future. The company now holds over 3% of the current supply, valued at $72 billion. Strategy first bought Bitcoin in 2020, kick-starting the now-popular crypto treasury model. Bitcoin treasury company Strategy’s co-founder Michael Saylor said on…
In brief The Panama Playlists appears to have leaked the Spotify accounts of some of the biggest names in crypto and AI. Coinbase CEO Brian Armstrong has created a playlist with just the same trance tune 60 times, which he says helps him focus. The last song Sam Bankman-Fried added to a playlist was Save…
In brief Showrunner users can create full episodes with prompts or photos, and share content on platforms like YouTube. Founder Edward Saatchi told Decrypt the company is in talks with studios, with plans to build purpose-trained models around official storyworlds. The startup is backed by Amazon’s Alexa Fund, though investment terms remain undisclosed. A startup…
In brief Michael Saylor is marketing Strategy’s Bitcoin-backed preferred stock STRC to retirees, offering 9.5% yields versus 0.1-4% from traditional savings accounts. Strategy reported $10 billion quarterly profits as Bitcoin surged from $77,000 to $111,000, with the company now holding 628,800 Bitcoin worth $74 billion. The preferred securities are backed by collateral covering 120 years…
Coinbase’s retail trading volumes dropped sharply in Q2, but beneath the surface, XRP continued to generate more consumer transaction revenue than Ethereum, extending a trend that began in the first quarter.According to Coinbase’s Q2 shareholder letter, XRP made up 13% of consumer transaction revenue, narrowly ahead of Ethereum at 12%. That marked a shift from…
In brief Hong Kong’s stablecoin licensing regime takes effect today, requiring fiat-referenced issuers to obtain HKMA approval. It comes shortly after the U.S. passed the GENIUS Act, sparking comparisons between the two approaches. Analysts say adoption may be slow in local retail, but firms eye international and B2B applications. Hong Kong officially introduced its long-awaited…
In brief Analysts’ Coinbase forecasts had called for $1.59 billion in total revenue. The crypto exchange giant has made multiple major acquisitions this year, including for options trading platform Deribit. The company’s stock price was down more than 6% in after-market trading. Coinbase clocked $1.5 billion in total revenue, a 25% drop from the previous financial quarter, as…
In brief Tether reported a second-quarter profit of $4.9 billion. CEO Paolo Ardoino teased a new U.S. venture. The stablecoin is still partly backed by Bitcoin and precious metals. Tether reported a second-quarter profit of $4.9 billion on Thursday, as CEO Paolo Ardoino teased a new, U.S.-specific venture for the stablecoin giant on social media.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,…
