Research
Politics
US labor federation warns CLARITY Act could push crypto closer to workers’ retirement money
The AFL-CIO says clearer crypto market rules could make digital assets easier to package into 401(k) and retirement investment products before stronger safeguards are in place.
Mining
Canaan earnings show Q1 revenue collapse as record BTC and ETH treasury nears $148M
Canaan earnings highlighted collapsing ASIC demand, weaker guidance, and a growing Bitcoin and Ethereum treasury approaching $148 million.
ETF
Bitcoin ETF demand weakens despite CLARITY Act policy win
Bitcoin ETF outflows reached $648.6 million days after the CLARITY Act advanced, turning a policy win into a test of institutional demand.
DeFi
84% of BTC hashrate secured Bitcoin DeFi in Q1, but miners saw little fee upside
Rootstock’s Q1 report shows a large share of Bitcoin hashrate securing smart-contract infrastructure, but fees and usage still decide whether that security becomes economically meaningful.
Macro
Bitcoin is left stranded as Fed projections flip to 54% chance of rate hikes this year
Bitcoin’s rate-cut cushion has vanished as futures now price a rising chance that the Fed’s next move is higher.
Derivatives
CME is launching a VIX style fear trade to Bitcoin. Now comes the hard part
CME’s BVI contract turns Bitcoin implied volatility into a regulated futures trade, giving institutions a way to hedge or bet on BTC turbulence without taking a direct price view.
Regulation
CLARITY Act will give crypto a new regulator before the CFTC has the staff to run it
The CLARITY Act would push crypto spot markets under the CFTC. The unresolved test is whether an agency down 21.5% in payroll FTEs can turn that mandate into rules, registrations, surveillance, and enforcement.
Digital Asset Treasuries
MSTR stock is beating Bitcoin, but another Strategy asset matters more now
MSTR has risen about 6.8% while Bitcoin is down about 12.5%, but STRC’s near-par trading may matter more for whether Strategy can keep financing BTC purchases through 2026.
Banking
A major bank just moved its stablecoin strategy into Wall Street’s hidden financing machine
Societe Generale is moving its bank-issued stablecoins toward Canton’s institutional repo, collateral, and settlement rails.
Hacks
THORChain exploit turns emergency chain halt into a DeFi trust test
A suspected multichain THORChain exploit and emergency halt have shifted attention from the immediate loss figure to DeFi’s cross-chain trust model.
Opinion
Apps will soon face the same death as print media as AI agents build personalized, verified software
Personal AI agents are turning software into verified, user-built systems where trust, identity, and execution define the next edge.
Analysis
Markets are moving toward a new global financial crisis. These are the tripwires that would confirm it
Bond yields and oil are already near stress levels, but a 2008-style break still needs confirmation from credit spreads, volatility, and financial conditions before Bitcoin faces its real macro test.
