Everything web3, crypto, defi, degen
In brief Robinhood CEO Vlad Tenev views tokenization as the future of finance. Robinhood is building its own Ethereum layer-2 scaling network. The firm surpassed analysts’ second-quarter expectations. Robinhood CEO Vlad Tenev referenced tokenization nearly a dozen times during the company’s second-quarter earnings broadcast on Wednesday, highlighting how the once-esoteric term is becoming a cornerstone…
In brief A New York appeals court vacated the 2023 conviction of Nathaniel Chastain on wire fraud and money laundering charges. The court ruled Chastain’s initial trial improperly convicted him on incorrect charges, given information about what NFTs OpenSea planned to list did not constitute the company’s “property.” The case will now head back to…
In brief South Korea’s FSC and FSS summoned officials from five major crypto exchanges after Upbit and Bithumb launched lending products offering up to 4x leverage, enabling short-selling through borrowed funds. Upbit suspended its Tether lending service, citing potential violations of Korea’s Lending Business Act, while Bithumb modified its structure but maintained controversial 4x leverage…
In brief Etherex, a new decentralized exchange on Linea, aims to fulfill the original promise of Ethereum DEX. The DEX is designed to be completely user-aligned, providing all trading fees and incentives back to locked token holders. It ultimately could attract capital from major ETH holders and institutions by offering “superior yield.” Newly launched crypto…
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 Robinhood disclosed $989 million in second-quarter revenue. Profits rose quarter-over-quarter to $386 million. The company’s stock has more than doubled so far this year. Robinhood posted a stronger-than-expected performance in the second quarter, surpassing analyst expectations yet again this year, despite a cooldown in revenue from crypto trading.The retail brokerage posted $989 million…
In brief Top prediction markets on Myriad this week ask about the price of Ethereum, the Roman Storm trial, and migrating birds. Predictors are bullish on ETH hitting a new all-time high this year, but not about it breaking $4K this week. In flash markets, predictors are leaning guilty on Storm, and that less than…
Kraken is in build mode. We are creating a multi-asset platform that enables anyone to trade anything, anytime, anywhere. In Q2, our pace accelerated — new products launched, global access expanded and infrastructure scaled. We are pushing the envelope on geo expansion and establishing ourselves as the infrastructure provider that will power the next generation…
In brief Crypto exchange Kraken reportedly aims to raise $500 million in a funding round at a $15 billion valuation. The fundraising comes amid an expected initial public offering (IPO) in early 2026. Many of Kraken’s peers have made similar moves toward IPOs in recent months, which experts attribute to a more favorable regulatory environment…
In brief Strategy has closed a $2.5 billion offering of STRC, its new perpetual preferred stock. Funds were used to buy 21,021 BTC at an average price of $117,256. Strategy now holds around 629,000 BTC worth roughly $73 billion. Michael Saylor’s Strategy has yet again pulled off the largest crypto-linked equity raise this year, closing…
