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 GOAT Network launched a Bitcoin Layer 2 testnet with real-time ZK proofs under 3 seconds. The project aims to enable fast withdrawals and native BTC yield without altcoins or custodians. The system uses decentralized provers to eliminate delays and proof backlogs. GOAT Network launched a public beta Thursday for what it claims is…
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 Nathan Smith’s ChatGPT-powered micro-cap bot is up 23.8% in four weeks—blowing past the Russell 200 and pro stock pickers. Unlike viral AI trading claims, Smith’s experiment is fully documented, open-source, and ready for anyone to try. Wall Street’s bots watch their backs: Smith’s journey from rural high schooler to finance prodigy is just…
In brief Quantum computers threaten blockchain security by cracking private keys with Shor’s algorithm. Chains using EdDSA, like Solana and Sui, are easier to upgrade for quantum resistance. Older chains like Bitcoin face steep risks and costly upgrades, or risk leaving assets exposed. Quantum computing could one day break the cryptographic foundations that secure trillions…
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 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…
In brief Marathon Digital’s AI strategy relies on co-developing platforms with energy firms. The strategy is unproven, according to analysts at Compass Point. The Bitcoin miner is also trying to grow its revenue abroad. Analysts at investment firm Compass Point reiterated a “neutral” rating for Marathon Digital on Wednesday, arguing that the firm’s focus on…
In brief Authorities recovered over 90 BTC, valued at about $11 million. Prosecutors said the funds were moved through eight offshore exchanges and obscured using coin mixing tools. The case was included in a government report highlighting the rise of crypto-enabled fraud in China’s tech sector. A Beijing court sentenced a former technology firm executive…
