Adoption
Politics
Crypto spent $55 million defending a senator who already backed CLARITY
One of crypto's most expensive election bets is playing out in Ohio, where winning could leave the industry's biggest problem in Washington untouched.
DeFi
Aave borrowers faced up to 36% APR while a freeze blocked fresh collateral
Aave's emergency freeze left borrowers paying interest while blocking the fresh deposits that higher rates normally attract.
Analysis
Japan’s central bank will sell ETFs 2.6 times faster and could still take 43 years to exit
Japan's central bank can reset its interest-rate target in one meeting, but selling its stock funds could take four decades.
Mining
AI wants Bitcoin miners’ power, but the contracts reveal who really gets paid
The AI boom has given struggling Bitcoin miners a potentially more valuable business, although the contracts behind their biggest conversions raise an uncomfortable question.
Macro
Banks are owed $349B by private credit funds that may not be collecting cash from borrowers
The Federal Reserve has revealed how deeply banks finance private credit, exposing a dangerous mismatch between interest funds record and cash they actually collect.
Macro
Bitcoin fell after the Fed’s pause, but blaming interest rates misses the Binance shock
Investors were assessing the Fed's pause when a $6 billion Binance breach raised questions about access to their funds.
Macro
Hedge funds hold $2 trillion in US debt, but their next trade could require fewer bonds
Washington has grown used to hedge funds buying its debt, even though those purchases depend on trades that can become less attractive.
Banking
Kraken wants to be your bank, but who will protect your money?
Your savings and Bitcoin might one day live inside the same Kraken app without enjoying the same legal protections.
Trading
NYSE’s owner is backing 24/7 stock tokens without Wall Street’s usual price rules
Trading stocks around the clock is easy to sell, but finding a competitive price is a completely different business.
Tokenization
Wall Street’s $359 billion-a-day repo market has found a use for blockchain
Billions of dollars move through Wall Street every morning just to cover the hours between payments, and blockchain is now making those temporary loans easier to arrange.
Analysis
Ethereum staking yield is losing to cash rates, so why are investors still lining up?
Ethereum's staking boom looks difficult to justify as an income trade, but the investors committing billions may be playing a different game.
Politics
Crypto doesn’t need your party to win, just its candidates
Crypto's election spending crosses party lines because the industry needs allies wherever financial rules get written.
