Everything web3, crypto, defi, degen
In brief Bitcoin historically follows four-year cycles where it soars one year after its halving and then crashes in price. Some experts say this cycle could be different, though. This is because a new type of investor is now involved in buying the cryptocurrency via ETFs. If history is anything to go by, then Bitcoin…
In brief Ethereum hit a new all-time high price, breaking a record set back in 2021. The second-biggest cryptocurrency had lagged behind Bitcoin in gains, and long lingered well short of its previous peak. Institutional adoption and a favorable regulatory landscape have helped the coin in recent months. Ethereum hit a new all-time high price…
In brief Crypto stocks surged on Fed Chair Powell’s dovish Jackson Hole speech hinting at September rate cuts, with Ethereum treasury companies and Bitcoin miners leading gains of 8-15%. Bitcoin ETFs bled $1 billion over five consecutive days while Ethereum ETFs rebounded with $288 million in net inflows on Thursday. Blockchain lender Figure Technologies filed…
In brief OpenAI built GPT-4b micro, a downsized model specialized for protein engineering, in collaboration with longevity startup Retro Biosciences. The model designed new variants of the Yamanaka factors, proteins used to reprogram adult cells into stem cells, achieving 50-fold higher efficiency in lab tests. Researchers say the results show how AI could accelerate life…
In brief Lead plaintiffs notified the court that Yacov Baron withdrew his intervention motion and settlement objections, removing the final barrier to approval. The settlement covers roughly 89,000 BlockFi Interest Account holders who lost access to funds when the platform collapsed in November 2022. BlockFi’s bankruptcy was triggered by its $680 million exposure to FTX,…
In brief Japan’s Payment Services Act amendments, effective since 2023, created a licensing regime for issuing and distributing fiat-pegged stablecoins. SBI VC Trade, the first firm licensed as an Electronic Payment Instruments Exchange Service Provider, already handles USDC and will now add RLUSD. Japan has a structured and bank-friendly crypto regime, while its local players…
In brief XRP whales have sold approximately $470 million worth of tokens over the past 10 days, contributing to a 20% decline from its $3.65 record high. Despite heavy whale selling, trading volumes remain sustained and retail investors continue accumulating XRP, suggesting market redistribution rather than panic. XRP currently trades at $2.90 with key support…
In brief XRP Ledger received a security score of 41 out of 100—the lowest among 15 major blockchains—in Kaiko’s Blockchain Ecosystem report released in August. A RippleX leader dismissed the low rating, pointing to XRP Ledger’s strong safety record. XRP Ledger’s software development kit was hit with a supply chain attack in April, but devs…
In brief London-listed web design and marketing firm The Smarter Web Company has appointed Jesse Myers to steer its Bitcoin strategy. Myers, author of the “Once-in-a-Species” newsletter, created a valuation model that inspired the Bitcoin 24 framework that Michael Saylor employed at Strategy. Smarter Web plans to hold reserves in both cash and Bitcoin, in…
In brief YZY surged to a multibillion-dollar valuation within an hour of launch before tumbling. The token is framed as part of a broader “YZY Money” payments ecosystem. On-chain data shows 70% of supply sits in a single wallet, raising centralization concerns. Hip-hop artist Kanye West has made his first direct move into crypto with…
