Author: John Smith

Ethereum’s best marketing line was that using it destroyed it, that every transaction burned ETH and shrank the supply. Then the network solved its scaling problem, activity fled to layer 2s, and the burn collapsed. The scaling worked. The scarcity did not survive it. Summary Ethereum’s “ultrasound money” thesis held that EIP-1559 fee burning would outpace new issuance, making ETH deflationary and a superior store of value to Bitcoin. It worked briefly after the 2022 Merge. Then the March 2024 Dencun upgrade moved activity to layer-2 rollups paying near-zero fees, and the daily burn collapsed from thousands of ETH to…

With Strategy’s cash reserve now at $3 billion, founder Michael Saylor has named corporate adoption as a necessary condition for Bitcoin to become a global currency network. Summary Michael Saylor says corporate adoption is essential for Bitcoin to become a global currency network. Strategy’s $3 billion cash reserve has helped ease concerns about forced Bitcoin sales. Bitcoin Japan plans its first treasury purchase as companies expand exposure to the asset. In a July 18 X post, Saylor described companies as legal structures that allow people to work toward a shared mission with more efficiency, transparency, credibility, scale, and staying power.…

Noxa has halted token launches after generating more than $12 million in fees and helping Robinhood Chain reach $4 billion in cumulative decentralized exchange volume within two weeks. Summary Noxa halted launches after earning $12 million in fees within two weeks. CASHCAT plunged over 33% as Robinhood Chain trading volume declined. Rival launchpads are competing to capture activity previously controlled by Noxa. crypto.news reported that the launchpad stopped operating on July 11 after becoming the main platform behind Robinhood Chain’s early memecoin activity. Noxa had supported more than 60,000 token launches and accounted for about 75% of all deployments on…

Ethereum has risen 1.8% to $1,845 after Rep. Bryan Steil raised hopes for a Senate vote on the CLARITY Act next week, while ETF inflows and firm chart support kept traders cautiously bullish. Summary Ethereum rose 1.8% as Bryan Steil raised hopes for a CLARITY Act vote next week. Spot Ethereum ETFs recorded $105 million in weekly inflows, their highest since April. ETH must defend $1,830 and break $1,854 to target the $1,947 resistance zone. Steil, who chairs the House Financial Services Subcommittee on Digital Assets, told FOX Business that the bill could reach the Senate floor in the coming…

Kaspersky has exposed OkoBot, a year-old malware operation that uses roughly 20 modules to steal crypto wallet recovery phrases and has affected users across at least five countries. Summary Kaspersky uncovered OkoBot using roughly 20 modules to steal crypto wallet credentials. The malware has affected users in Brazil, Vietnam, Canada, Mexico, and Turkey. OkoBot uses fake recovery screens, keylogging, spyware, and ClickFix commands to target victims. Kaspersky researchers discovered that the malware has remained active for more than a year, according to a report published by Bits.media. Most identified victims were located in Brazil, Vietnam, Canada, Mexico, and Turkey, while…

Cathie Wood’s ARK Invest has bought $18.3 million of SpaceX shares after the stock fell 5.43% to a new post-IPO low, according to the firm’s July 17 trading report. Summary ARK Invest bought $18.3 million of SpaceX shares after the stock hit a post-IPO low. Four ARK ETFs acquired 147,623 shares as SpaceX closed 8.2% below its IPO price. SpaceX delayed Starship Flight 13 after two Raptor engines failed during pre-flight testing. According to ARK’s daily disclosure, four of its actively managed exchange-traded funds purchased a combined 147,623 SpaceX shares as the stock closed Friday at $123.99. During the session,…

Hyperliquid co-founder Jeff Yan has warned that crypto’s failure to attract enough top entrepreneurs has become one of the industry’s biggest obstacles as young talent moves toward artificial intelligence. Summary Jeff Yan says crypto is struggling to attract top young entrepreneurs. AI’s prestige and rapid growth are pulling talented founders away from on-chain finance. George Noble warns heavy AI spending could create serious financial risks. The VALR podcast featured Yan’s comments on how the AI boom and the social status attached to the technology have influenced career choices among young founders. According to Yan, many talented people remain unsure which…

OKX Europe has opened a one-way conversion route across 30 EU and EEA countries, allowing customers to deposit USDT and exchange it for MiCA-compliant USDC. Summary OKX Europe now lets users deposit USDT and convert it into MiCA-compliant USDC. Tether continues to reject MiCA approval over concerns about the framework’s reserve requirements. Binance’s European retreat has left licensed exchanges competing for users affected by MiCA restrictions. According to an OKX announcement, eligible customers can send Tether’s USDT to their OKX Europe accounts before converting the tokens into Circle-issued USDC. OKX also promoted an 8% deposit bonus for customers moving funds…

Anthropic has proposed leasing up to $10 billion of computing power from Meta Platforms over two years as the AI developer prepares for a possible October IPO. Summary Anthropic has proposed leasing up to $10 billion of computing power from Meta over two years. Meta is reviewing the deal, which could create a new revenue stream from its AI infrastructure. Bloomberg reports Anthropic is preparing for a possible IPO as early as October. According to Reuters, which cited The New York Times, Meta is reviewing the proposal after Anthropic presented the terms in June. The planned agreement would require Anthropic…

Piero Cipollone has warned that stablecoins could drain bank deposits as Coinbase fell 1.75% to $157 and Circle lost 6% across five sessions to trade near $60. Summary Piero Cipollone warned that growing stablecoin use could pull deposits away from traditional banks. Coinbase shares are testing $157 support, with Compass Point maintaining a $140 downside target. Circle remains inside a descending channel as Mizuho forecasts a potential drop to $50. The European Central Bank executive board member raised the concern during a July 17 speech at the Federation of Cooperative Credit Banks in Rome, where he linked increased stablecoin use…