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Monad’s mainnet upgrade makes storing data together 98% cheaper

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Monad’s mainnet upgrade makes storing data together 98% cheaper
Monad, an EVM-compatible blockchain, activated its MonadTen revision on mainnet at 14:30 UTC on Sept. 2. The MIP-8 upgrade changes how the network charges contracts for reading storage, replacing slot-by-slot warming with groups of 128 consecutive slots. Monad’s mainnet block 101672712 measured 8,100 gas to read slot 0, 100 gas to read slot 1 on … Read more

Revolut hit by Washington crypto boom illusion, exposing massive two-tier banking system

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Revolut hit by Washington crypto boom illusion, exposing massive two-tier banking system
Revolut filed with the OCC and FDIC on March 4 to establish Revolut Bank US, an insured national bank that would take deposits, issue credit cards, make loans, and connect directly to Fedwire and ACH. Nearly six months later, that application remains pending, while federal regulators have spent the same stretch conditionally approving or converting … Read more

Kalshi’s new oil contract promises non-stop exposure, but a hidden flaw could expose traders to massive weekend shocks

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Kalshi’s new oil contract promises non-stop exposure, but a hidden flaw could expose traders to massive weekend shocks
Kalshi, the US-regulated exchange that won approval for a Bitcoin perpetual in May, is preparing to ask the Commodity Futures Trading Commission to approve a perpetual futures contract tied to West Texas Intermediate crude oil, Reuters reported on Sept. 2. If approved, it would be the first oil perpetual to trade on a regulated US … Read more

Coinbase co-founder joins rush for Venezuelan oil assets under new US-backed framework

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Coinbase co-founder joins rush for Venezuelan oil assets under new US-backed framework
Coinbase co-founder Fred Ehrsam’s separate Venezuela investment firm, Primavera, is reportedly pursuing three oil assets as the country reallocates energy projects under a US-backed restructuring. Reuters reported on Sept. 2 that Primavera was among companies expected to sign Venezuelan energy agreements as soon as that day. Bloomberg reported on Sept. 1 that Ehrsam was seeking … Read more

Bitcoin cannot break out past $80,000 until it devours an 880k BTC roadblock that choked every rally

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Bitcoin cannot break out past $80,000 until it devours an 880k BTC roadblock that choked every rally
Bitcoin is testing a roughly $68 billion breakeven wall that has repeatedly stalled its push back above $80,000. About 880,000 BTC carry a cost basis between roughly $77,500 and $80,300, leaving a large group of holders close to where they originally bought, Bitfinex Alpha data shows. Data from CryptoSlate shows Bitcoin trading near $77,890 as … Read more

XRP’s $2.14 bull case just met a $474 million ETF tailwind

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XRP’s $2.14 bull case just met a $474 million ETF tailwind
XRP could climb above $2.14 by late November as sustained exchange-traded fund (ETF) demand adds momentum to its recent rebound. CryptoSlate’s 90-day model places the bullish outcome at the 80th percentile, nearly 59% above its  $1.35 reference close. The median forecast is far lower at $1.47, leaving the headline target in the optimistic part of … Read more

BlackRock’s Bitcoin ETF barely beat the S&P 500 after putting investors through a 53% crash

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BlackRock’s Bitcoin ETF barely beat the S&P 500 after putting investors through a 53% crash
BlackRock’s Bitcoin exchange-traded fund (ETF) has narrowly outperformed the S&P 500 since launch despite subjecting investors to a drawdown nearly three times as deep. The iShares Bitcoin Trust, or IBIT, returned 67.74% from its Jan. 11, 2024 debut through Aug. 31, compared with 66.14% for Vanguard’s S&P 500 ETF, or VOO, on a total-return basis … Read more

XRP investors poured $320M into ETFs while the funds sat on a $746M paper loss

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XRP investors poured $320M into ETFs while the funds sat on a $746M paper loss
Five major US spot XRP products held XRP with a combined fair value $746.1 million below accounting cost at the end of June, but investors kept buying anyway. According to SEC filings, Bitwise, Canary Capital, Franklin Templeton, 21Shares, and Grayscale recorded roughly $629.9 million in primary-market share creations against $309.1 million in redemptions during the … Read more

How FBI turned Hamas’ crypto fundraising pipeline into a law-enforcement trap

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How FBI turned Hamas’ crypto fundraising pipeline into a law-enforcement trap
The US Federal Bureau of Investigation (FBI) seized Hamas-linked fundraising infrastructure and used it to intercept cryptocurrency donations intended for the group. Earlier this week, the Justice Department said the operation followed earlier court-authorized seizures that traced and recovered more than $560,000 in digital assets tied to Hamas fundraising. Those seizures came through warrants issued … Read more