Research
Macro
Bitcoin faces a two-week Fed trap as inflation rewrite threatens to upend rate cuts
Policymakers will have CPI but not official August PCE when they decide, leaving a second market test on Sept. 30.
Regulation
Kalshi faces $500,000 daily fines as Michigan forces sports event contracts offline
The preliminary injunction lasts until final order, adds a futures broker notice duty and lands amid an appellate split.
Digital Asset Treasuries
Japan’s 4% bond yield spike threatens the low-cost borrowing strategy behind corporate Bitcoin buying
Existing fixed debt keeps its terms, while future BitBonds must clear a materially higher funding hurdle.
Macro
Arthur Hayes calls EUR/JPY prices crypto’s smoke alarm, but the Fed’s plumbing still shows no fire
The pair fell 2.38%, yet FIMA usage and scheduled reserve-management purchases remain at zero.
Macro
Bitcoin falls below $80,000 as hot US payrolls revive Fed hike risk
The 162,000 jobs gain lifted yields and the dollar, but the first selloff did not hold uniformly.
Stablecoins
Why GENIUS could leave digital dollars vulnerable to sudden blockchain network ‘bank runs’
A Federal Reserve staff paper shows how congestion and weak network effects can push holders toward redemptions or chain migration even with safe backing.
Technology
Zero-knowledge apps go dark after chain upgrade breaks their underlying verification keys
Mina completed its scheduled network restart, but deployed zkApps still need Mesa-compatible verification keys before proof-authorized activity can resume.
DeFi
Monad’s mainnet upgrade makes storing data together 98% cheaper
A block-pinned mainnet call reproduced the 8,100-to-100 step-down and showed the cold charge returning at slot 128.
Governance
Scan reveals 96,000 fake-address outputs clogging Bitcoin’s unspent database
Bitquery’s scan shows why cheap OP_RETURN repetition and fake-address text impose radically different costs on Bitcoin nodes.
Hacks
Parked Coldcard loot begins moving as attacker routes $1.6M in stolen Bitcoin to Ethereum
Bitquery traced 20.45 BTC through 34 Bitcoin swaps, and the main destination later held roughly 5 ETH less.
Governance
What Solana’s failed fee vote reveals about Anatoly Yakovenko’s power
A majority backed the reform, but the supermajority rule left implementation authority with validators and stakers.
Digital Asset Treasuries
Hyperliquid treasury company increases token buying strategy to $2.5 billion as shares run out
Filings show at least $763.7 million raised, leaving at most $236.3 million before discounted share sales face a Nasdaq cap.