Stablecoins
Macro
How $739B in new US debt could absorb crypto’s liquidity before buybacks even reach Bitcoin
A bigger Treasury buyback program sounds like liquidity support, but heavy new issuance could offset much of that effect before it reaches Bitcoin.
Banking
The next shadow-banking problem comes from insurance companies, where nobody was looking for a bank run
A $20 billion filing correction is forcing a closer look at how deeply private credit has embedded itself inside US life insurers.
ETF
The SEC is reviewing automatic filing pathways after exotic crypto and event-linked ETF proposals flooded the market
Wall Street has turned the humble ETF into a wrapper for almost any financial bet imaginable.
Mining
Bitcoin miners are no longer pure crypto proxies and are morphing into high-performance computing hubs
Bitcoin miners used to trade like leveraged bets on BTC, but their growing AI businesses are breaking that relationship.
ETF
Crypto ETFs appeared to hit $10B in hours, but filing data exposes where that money really came from
Billions of dollars can appear inside a crypto ETF without investors buying a single new coin on launch day.
Research
Solana traders on OnlyFans just saved a 64-year marmot wildlife study after federal funding stopped
The internet may be fickle, but this summer it helped keep a 64-year marmot research project alive.
ETF
It just got 25 times easier to move self-custody Bitcoin directly onto Wall Street, and $5 billion already has
A sharp drop in conversion minimums is bringing institutional Bitcoin custody within reach of a broader class of investors.
Macro
Is the Jackson Hole central bank retreat now a crypto conference?
Crypto is no longer outside the gates at Jackson Hole.
Derivatives
The US approved high-leverage Bitcoin trading while crypto founders remain legally blocked from raising funds
Washington has made it easier to trade crypto with leverage than to raise the money needed to create the next generation of tokens.
Banking
America is creating a new class of crypto banks – but they aren’t really banks
Washington is giving crypto companies the legal shell of a bank while stripping away nearly everything consumers normally expect a bank to do.
Analysis
How a former crypto user’s archived Binance data ended up in a foreign terrorism prosecution
A user can withdraw every coin from an exchange and still leave behind years of identity and transaction history.
Regulation
SEC proposes a path for crypto projects to raise $75 million and later end the token’s securities contract
The proposal would give crypto projects a federal roadmap for raising money and eventually leaving the investment contract behind.
