Web3

Home Web3 Page 91

Fold Stock Pops, Then Plunges After Revealing Bitcoin Rewards Visa Credit Card Plans – Decrypt

0
Fold Stock Pops, Then Plunges After Revealing Bitcoin Rewards Visa Credit Card Plans – Decrypt



In brief

Bitcoin financial services firm Fold revealed details for its upcoming BTC rewards credit card.
The card will be issued on the Visa network in a team-up with Stripe.
Fold’s stock is down more than 14% on the day after opening strong.

Bitcoin financial services company Fold Holdings announced Tuesday that its previously delayed BTC rewards credit card will run on the Visa network thanks to a team-up with financial infrastructure firm Stripe. But while Fold’s stock (Nasdaq: FLD) started off hot on the day, it quickly plunged.

The Fold Bitcoin Credit Card will let users accumulate Bitcoin through everyday spending, offering up to 3.5% back on all purchases with no spending categories or deposit requirements, the company said.

Users earn an unlimited 2% back instantly, plus up to 1.5% additional when paying through their Fold Checking Account. Enhanced rewards of up to 10% are available with major partners, including Amazon, Target, Home Depot, Uber, Starbucks, and hundreds of other brands.



FLD opened at a price of $4.69 on Tuesday after closing at $3.88 on Monday. However, the buzz didn’t last, with the price plunging to $3.32 as of this writing, marking a more than 14% dip on the day.

“Our credit card offers clear and compelling value and makes Bitcoin easily accessible to everyone,” said Fold founder, Chairman, and CEO Will Reeves, in a statement. “There are no categories to manage, no tokens to stake, no exchange account or balance requirements; just real Bitcoin, earned automatically with every purchase.”

No timeline has been announced for the Fold credit card’s release.

Stripe said that it has already processed over $3.1 billion in transaction volume and distributed more than $83 million in Bitcoin rewards. The company also holds 1,485 BTC in its treasury, worth about $167 million at present.

Fold’s stock surged on Friday, roughly doubling in price and peaking above $7 per share amid speculation that veteran crypto industry investor Mike Alfred was joining the company.

Instead, another publicly traded crypto company, Bakkt, announced Alfred’s appointment to its advisory board on Monday, prompting its own stock spike. Bakkt is up nearly another 18% so far on Tuesday, rising to $17.31 as of this writing.

The price of FLD fell on Monday following the Bakkt appointment announcement, and has continued to fall on Tuesday. Even so, FLD remains up about 8% over the last week, though it’s down about 12% on the month.

Bitcoin itself is roughly flat on the day at a current price of $112,774, but has fallen about 3% on the week.

Myriad Markets users have recently turned bearish on the top cryptocurrency’s chances of rising to $125,000—which would be a new all-time high mark—sooner than it can fall to $105,000.

As of this writing, 53% of predictors expect it to hit the lower mark sooner than the higher price. That mark has grown substantially over the last week, rising from about 38% on September 16.

(Disclaimer: Myriad Markets is a unit of Decrypt’s parent company, DASTAN.)

Daily Debrief Newsletter

Start every day with the top news stories right now, plus original features, a podcast, videos and more.



Source link

Altcoins MNT, AVAX, ASTER Defy Market Downturn—Here’s Why – Decrypt

0
Altcoins MNT, AVAX, ASTER Defy Market Downturn—Here’s Why – Decrypt



In brief

Altcoins Mantle and Avalanche are the only tokens in the top 100 cryptocurrencies that have posted double-digit gains on the day.
Perpetual futures decentralized exchange Aster has also defied the market downturn with substantial gains.
Bitcoin and Ethereum have traded flat on the day, and a large portion of the market has seen double-digit losses over the past seven days.

The crypto market has experienced a notable downturn over the past week, and is trading flat on the day. However, a handful of altcoins are defying this move, with some even posting double-digit gains on the day.

The biggest winner of the day is Ethereum layer-2 network Mantle, which climbed 12.1% on the day to a $5.9 billion market cap as the 37th largest cryptocurrency. The double-digit jump follows Mantle’s partnership with centralized exchange Bybit, which offers higher leverage rates and better loan terms for institutional investors.

Another notable altcoin winner is Avalanche, which jumped 10.7% on the day and 12% over the past week to a $14.5 billion market cap, making it the 15th largest cryptocurrency according to CoinGecko. It comes the day after a Bitcoin mining firm rebranded to AVAX One and bought $550 million worth of the token in a digital asset treasury pivot, causing its stock to leap 200%.

On top of this, Avalanche recorded $4.29 billion in trading volume on Monday and $4.46 billion on Friday, the highest for the token since December 2023, per CoinGlass. On Monday, AVAX experienced a spot daily inflow of $6.67 million and a futures daily inflow of $80.44 million.

No other top 100 cryptocurrency outside of Mantle and Avalanche has made a double-digit move.

Another cryptocurrency posting significant gains is Aster, a new perpetual futures decentralized exchange on the Binance Smart Chain, which has been tipped to rival the ever-popular Hyperliquid. Its ASTER token has jumped 7% in the past 24 hours, taking it to a $2.8 billion market cap and making it the 56th largest cryptocurrency according to CoinGecko.

Aster’s move appears to be tied to the exchange’s total value locked spiking from $378 million last week to $1.46 billion at the time of writing, per DefiLlama. It also claims to have hit $6 billion in perp trading volume on Monday.

Users of Myriad, a prediction market developed by Decrypt’s parent company DASTAN, believe that Aster has a 67% chance of continuing its move upwards from $1.70 to $2 by the end of the month.

The fourth largest gainer of the day is AI project NEAR (up 4.2%), followed by Cronos’ CRO (up 4.2%), and layer-1 network Stellar (up 3.3%).

Meanwhile, Bitcoin and Ethereum are trading flat following a dramatic start to the week which saw $1.6 billion worth of liquidations across the crypto market on Monday.

Daily Debrief Newsletter

Start every day with the top news stories right now, plus original features, a podcast, videos and more.



Source link

Ontario Kidnapper Who Demanded $1M Bitcoin Ransom Sentenced to 13 Years – Decrypt

0
Ontario Kidnapper Who Demanded M Bitcoin Ransom Sentenced to 13 Years – Decrypt



In brief

Keyron Moore received a 13-year sentence, with three years credited for time served.
A youth co-accused, identified only as S.M., will be sentenced in Oshawa on Oct. 3.
The victim was abducted in 2022, tortured, and told to pay $1M in Bitcoin before escaping.

A Toronto-area kidnapping tied to a $1 million Bitcoin demand has led to fresh court rulings, with one man sentenced and a youth awaiting judgment.

Keyron Moore, 39, has been sentenced to 13 years in prison, with three years credited for time served, after being convicted in connection with the abduction, torture, and sexual assault of a woman identified as A.T. in 2022.

Justice M. Townsend handed down the sentence in Newmarket on August 22, imposing concurrent terms for forcible confinement, sexual assault with a firearm, and reckless discharge of a firearm, alongside additional orders including a lifetime weapons ban and a 20-year registration as a sex offender.



The sentencing decision also referenced the youth co-accused, identified only as S.M. under the Youth Criminal Justice Act, noting that Moore is barred from contacting him while in custody. S.M. was convicted in 2024 and is scheduled to be sentenced in Oshawa on October 3.

A non-publication and non-broadcast order was implemented in March 2024 to protect the victim’s identity.

The assault happened on November 1, 2022, when A.T. was abducted outside a Thornhill plaza and forced into a vehicle at gunpoint. She was driven to Barrie, confined in a garage, stripped, beaten, burned, and threatened with a syringe filled with fentanyl while her captors demanded $1 million in Bitcoin, according to a court document from the Ontario Court of Justice published in December last year.

The perpetrators “kept saying that they wanted money as well as cryptocurrency and Bitcoin,” according to a summary line by Detective Renwick, the case’s File Coordinator.

During the ordeal, Moore at one point threatened to shoot her unless she performed sexual acts. A.T. eventually escaped through a garage door and ran to a neighbor’s house to call for help.

The case joins a growing number of violent assaults tied to digital assets, including so-called “$5 wrench attacks,” where victims are physically coerced into surrendering their crypto holdings.

Such incidents show how crypto has become a direct target for extortion, with courts and law enforcement treating digital-asset ransom demands much like traditional armed robbery and kidnapping.

In her victim impact statement, A.T. described the lasting trauma she continues to face.

“I don’t go outside alone. The fear is too overwhelming. I feel like I have a target on my back, like someone is always watching, waiting for the right moment. My heart races at the thought of being approached, followed, or taken.”

Daily Debrief Newsletter

Start every day with the top news stories right now, plus original features, a podcast, videos and more.



Source link

New AI System Predicts Risk of 1,000 Diseases Years in Advance – Decrypt

0
New AI System Predicts Risk of 1,000 Diseases Years in Advance – Decrypt


In brief

Researchers unveiled Delphi-2M in Nature, an AI that forecasts risk for 1,000+ diseases up to 20 years out.
The model outperformed single-disease tools, predicting co-morbidities and generating synthetic health trajectories from medical records.
Trained on UK Biobank and validated on 1.9M Danish health records, Delphi-2M shows promise but faces bias, privacy, and deployment hurdles.

Researchers have built an AI system that predicts your risk of developing more than 1,000 diseases up to 20 years before symptoms appear, according to a study published in Nature this week.

The model, called Delphi-2M, achieved 76% accuracy for near-term health predictions and maintained 70% accuracy even when forecasting a decade into the future.

It outperformed existing single-disease risk calculators while simultaneously assessing risks across the entire spectrum of human illness.



“The progression of human disease across age is characterized by periods of health, episodes of acute illness and also chronic debilitation, often manifesting as clusters of co-morbidity,” the researchers wrote. “Few algorithms are capable of predicting the full spectrum of human disease, which recognizes more than 1,000 diagnoses at the top level of the International Classification of Diseases, Tenth Revision (ICD-10) coding system.”

The system learned these patterns from 402,799 UK Biobank participants, then proved its mettle on 1.9 million Danish health records without any additional training.

Before you start rubbing your hands with the idea of your own medical predictor, can you try Delphi-2M yourself? Not exactly.

The trained model and its weights are locked behind UK Biobank’s controlled access procedures—meaning researchers only. The codebase for training your own version is on GitHub under an MIT license, so you could technically build your own model, but you’d need access to massive medical datasets to make it work.

For now, this remains a research tool, not a consumer app.

Behind the curtain

The technology works by treating medical histories as sequences—much like ChatGPT processes text.

Each diagnosis, recorded with the age it first occurred, becomes a token. The model reads this medical “language” and predicts what comes next.

With the proper information and training, you can predict the next token (in this case, the next illness) and the estimated time before that “token” is generated (how long until you get sick if the most likely set of events occurs).

For a 60-year-old with diabetes and high blood pressure, Delphi-2M might forecast a 19-fold increased risk of pancreatic cancer. Add a pancreatic cancer diagnosis to that history, and the model calculates mortality risk jumping nearly ten thousandfold.

The transformer architecture behind Delphi-2M represents each person’s health journey as a timeline of diagnostic codes, lifestyle factors like smoking and BMI, and demographic data. “No event” padding tokens fill the gaps between medical visits, teaching the model that the simple passage of time changes baseline risk.

This is also similar to how normal LLMs can understand text even if they miss some words or even sentences.

When tested against established clinical tools, Delphi-2M matched or exceeded their performance. For cardiovascular disease prediction, it achieved an AUC of 0.70 compared to 0.69 for AutoPrognosis and 0.71 for QRisk3. For dementia, it hit 0.81 versus 0.81 for UKBDRS. The key difference: those tools predict single conditions. Delphi-2M evaluates everything at once.

Beyond individual predictions, the system generates entire synthetic health trajectories.

Starting from age 60 data, it can simulate thousands of possible health futures, producing population-level disease burden estimates accurate to within statistical margins. One synthetic dataset trained a secondary Delphi model that achieved 74% accuracy—just three percentage points below the original.

The model revealed how diseases influence each other over time. Cancers increased mortality risk with a “half-life” of several years, while septicemia’s effect dropped sharply, returning to near-baseline within months. Mental health conditions showed persistent clustering effects, with one diagnosis strongly predicting others in that category years later.

Limitations

The system does have boundaries. Its 20-year predictions drop to around 60-70% accuracy in general, but things will depend on which type of disease and conditions it tries to analyze and forecast.

“For 97% of diagnoses, the AUC was greater than 0.5, indicating that the vast majority followed patterns with at least partial predictability,” the study says, adding later on that “Delphi-2M’s average AUC values decrease from an average of 0.76 to 0.70 after 10 years,” and that “iIn the first year of sampling, there are on average 17% disease tokens that are correctly predicted, and this drops to less than 14% 20 years later.”

In other words, this model is quite good at predicting things under relevant scenarios, but a lot can change in 20 years, so it’s not Nostradamus.

Rare diseases and highly environmental conditions prove harder to forecast. The UK Biobank’s demographic skew—mostly white, educated, relatively healthy volunteers—introduces bias that the researchers acknowledge needs addressing.

Danish validation revealed another limitation: Delphi-2M learned some UK-specific data collection quirks. Diseases recorded primarily in hospital settings appeared artificially inflated, contradicting the data registered by the Danish people.

The model predicted septicemia at eight times the normal rate for anyone with prior hospital data, partly because 93% of UK Biobank septicemia diagnoses came from hospital records.

The researchers trained Delphi-2M using a modified GPT-2 architecture with 2.2 million parameters—tiny compared to modern language models but sufficient for medical prediction. Key modifications included continuous age encoding instead of discrete position markers and an exponential waiting time model to predict when events would occur, not just what would happen.

Each health trajectory in the training data contained an average of 18 disease tokens spanning birth to age 80. Sex, BMI categories, smoking status, and alcohol consumption added context.

The model learned to weigh these factors automatically, discovering that obesity increased diabetes risk while smoking elevated cancer probabilities—relationships that medicine has long established but that emerged without explicit programming. It’s truly an LLM for health conditions.

For clinical deployment, several hurdles remain.

The model needs validation across more diverse populations—for example, the lifestyles and habits of people from Nigeria, China, and America can be very different, making the model less accurate.

Also, privacy concerns around using detailed health histories require careful handling. Integration with existing healthcare systems poses technical and regulatory challenges.

But the potential applications span from identifying screening candidates who don’t meet age-based criteria to modeling population health interventions. Insurance companies, pharmaceutical firms, and public health agencies may have obvious interests.

Delphi-2M joins a growing family of transformer-based medical models. Some examples include Harvard’s PDGrapher tool for predicting gene-drug combinations that could reverse diseases such as Parkinson’s or Alzheimer’s, an LLM specifically trained on protein connections, Google’s AlphaGenome model trained on DNA pairs, and others.

What makes Delphi-2M so interesting and different is its broad scope of action, the sheer breadth of diseases covered, its long prediction horizon, and its ability to generate realistic synthetic data that preserves statistical relationships while protecting individual privacy.

In other words: “How long do I have?” may soon be less a rhetorical question and more a predictable data point.

Generally Intelligent Newsletter

A weekly AI journey narrated by Gen, a generative AI model.



Source link

Spheron x Recall: Powering the AI Encyclopedia of the Future

0
Spheron x Recall: Powering the AI Encyclopedia of the Future


Imagine a world where AI agents compete in real-time, proving their intelligence, climbing leaderboards, and earning trust in a transparent manner. That’s exactly what Recall is building , and now, they’re teaming up with Spheron Network to bring unstoppable, censorship-resistant compute to power it all.

This partnership is about more than scaling infrastructure. It’s about rethinking how we consume, retain, and interact with knowledge in an age where information overload has become the norm. Recall is pioneering a new category: the personal AI encyclopedia. With Spheron’s decentralized compute layer, it can expand faster, stay resilient, and make open, scalable infrastructure the default for the next era of AI.

The Problem: Knowledge Overload in the Digital Age

We live in a time when information comes at us from every direction: YouTube lectures, long-form podcasts, news articles, research PDFs, and endless blog posts. While this abundance is empowering, it also creates a paradox: the more content we consume, the harder it becomes to capture what truly matters and recall it when we need it.

Traditional note-taking tools or read-it-later apps only scratch the surface. They might save a link or highlight a quote, but they rarely help us connect knowledge across different sources, quiz ourselves on key concepts, or resurface important ideas at the moment they’re most relevant. What’s missing is an intelligent system that doesn’t just store information, but helps us learn, remember, and apply it.

Recall’s Solution: Your AI Encyclopedia

Recall exists to tackle this exact challenge. It combines the power of AI with smart design to create a personal knowledge system that grows with you.

At its foundation, Recall captures original content. Whether it’s an article, PDF, Google Doc, or YouTube video, Recall stores the full source so you can use it as your go-to Read-It-Later app. But unlike standard tools, Recall goes far beyond storage.

Through AI-powered summarization and chat, you can instantly distill dense material into concise or detailed takeaways. You can also interact with the content directly, asking specific questions and receiving answers grounded in the source, rather than relying on generic internet data. This keeps responses accurate and highly contextual.

Recall’s graph-based knowledge engine connects related content automatically. Keywords and themes are extracted, enriched, and resurfaced as you browse online through a feature called Augmented Browsing. Instead of passively consuming, you begin to see how different ideas and sources interconnect, turning fragmented content into a living web of insights.

With a built-in Recall Notebook, you can edit summaries, highlight text, and take custom notes. Content is auto-tagged into a self-organizing structure, ensuring your growing knowledge base stays tidy and easy to navigate.

And perhaps most importantly, Recall is designed to help you retain knowledge in the long term. It employs proven learning strategies, such as spaced repetition and active recall, converting saved content into interactive quizzes and personalized review schedules. This means that the key insights from everything you read, watch, or listen to aren’t just saved; they’re remembered.

Why Spheron + Recall

As Recall builds towards its vision of a real-time AI encyclopedia and intelligent agent playground, it needs infrastructure that can keep pace with its ambitions. Handling real-time summarization, managing graph databases at scale, and powering AI-driven quizzes across millions of users demands more than centralized cloud servers. It requires infrastructure that is resilient, censorship-resistant, and cost-effective.

That’s where Spheron Network comes in. By leveraging Spheron’s decentralized GPU and CPU compute network, Recall can:

Scale efficiently without being tied to centralized cloud costs or restrictions.

Ensure resilience by distributing workloads across a global network of nodes.

Maintain trustless availability, ensuring users always have access to their knowledge base.

Align with decentralization principles, building AI infrastructure that is owned by communities, not corporations.

For Spheron, this partnership demonstrates yet another transformative application of decentralized compute: powering the future of personal knowledge systems and agentic AI.

Partnership in Action

Through this collaboration, Recall will integrate with Spheron’s compute backbone to accelerate AI summarization, querying, and retrieval workflows. This not only ensures smoother performance for users but also helps Recall scale its AI agent competitions and leaderboards, where different models compete transparently and earn user trust.

At the same time, Spheron benefits from the new demand driven by Recall’s users, further strengthening its position as the go-to decentralized cloud for AI applications. Every new workload that Recall runs validates the robustness of community-powered compute and expands the ecosystem of real-world AI projects building on Spheron.

Looking Ahead

The future of knowledge is not about storing more bookmarks or hoarding PDFs. It’s about turning the firehose of digital content into structured, meaningful intelligence that we can recall and apply when it matters most. Recall is building that future, a personal AI encyclopedia that learns with you, helps you connect ideas, and makes knowledge actionable.

With Spheron providing the decentralized infrastructure to power it all, this vision is not just possible , it’s inevitable. Together, we are showing how open, scalable infrastructure and agentic AI can transform the way we learn, remember, and interact with the world’s information.

The next era of knowledge isn’t just searchable. It’s personal, intelligent, and unstoppable.



Source link

Tom Lee’s BitMine Buys $1.1 Billion in Ethereum and Sells Stock, Shares Fall 10% – Decrypt

0
Tom Lee’s BitMine Buys .1 Billion in Ethereum and Sells Stock, Shares Fall 10% – Decrypt



In brief

BitMine Immersion now holds 2% of the total ETH supply following its latest buy.
The Nasdaq-listed Bitcoin miner pivoted to a Ethereum-buying strategy in May.
Its stock was trading lower on Monday following the ETH buy and a stock sale.

Nasdaq-listed Bitcoin miner BitMine Immersion bought more Ethereum last week, bringing its total holdings to 2.42 million ETH after its biggest buy so far in September. But its stock price is down on the day, following both the ETH purchase announcement and a new share sale.

The firm, which pivoted in May from Bitcoin mining to raising money to buy ETH, now holds over $10 billion in the second-largest digital coin by market cap—or 2% of the total supply.

BitMine holds the largest Ethereum treasury of any publicly traded firm, and the second-largest overall crypto treasury behind Bitcoin giant Strategy’s $72 billion BTC stockpile.

In a Monday announcement, BitMine said that it also held 192 Bitcoin worth $21.6 million, unencumbered cash of $345 million, and a $175 million stake in crypto treasury Eightco. In total, the company has $11.4 billion on its balance sheet. 



Shares of BitMine (BMNR) were trading almost 10% lower on Monday at a price of $55.30. BMNR remains up more than 3% over the last month, per data from Yahoo Finance.

“BitMine ETH holdings now exceed 2% of supply as we move towards our ‘Alchemy of 5%’ of ETH supply,” BitMine Chairman and Fundstrat Global Advisors Managing Partner Tom Lee said in a statement. 

He added: “We continue to believe Ethereum is one of the biggest macro trades over the next 10-15 years.”

The company also announced Monday that it had entered a deal to sell $365.2 million worth of shares to an unnamed institutional investor, with the sale set to be completed on or around Tuesday.

BitMine has been issuing debt and looking for ways to raise money so it can buy ETH since May. 

Lee is the brains behind BitMine’s ETH stacking strategy. Lee has long been bullish on Bitcoin, but in June said that Ethereum was making a comeback and could be the “next Bitcoin” as institutional investors express interest in the digital coin and its network. 

Ethereum was recently trading at nearly $4,180 per coin, according to crypto data provider CoinGecko, after dropping nearly 7% over a 24-hour period. 

Ethereum is the crypto network behind ETH, the second-biggest cryptocurrency by market cap after Bitcoin. The network is used by developers to build decentralized applications and launch tokens. Lee believes that the rising profile of stablecoins, which are heavily used on Ethereum, show how useful the network can be.

President Trump signed the GENIUS Act into law in July, creating a regulatory framework for issuing the assets in the U.S. A number of top companies and banks are working to issue the digital tokens in the hope to make payments cheaper and more seamless. 

Daily Debrief Newsletter

Start every day with the top news stories right now, plus original features, a podcast, videos and more.



Source link

Dogecoin, Solana and Ethereum Plunge as Crypto Liquidations Near $1.7B – Decrypt

0
Dogecoin, Solana and Ethereum Plunge as Crypto Liquidations Near .7B – Decrypt



In brief

The crypto market retreated sharply Monday morning, with the total market cap dropping to $3.98 trillion.
More than 390,000 traders were liquidated, with longs making up the bulk of the $1.68 billion in losses.
Dogecoin dropped by 10%, leading losses among the top 10, while Bitcoin held relatively firm in comparison to altcoins amid volatile macro conditions

Crypto markets saw another sharp retreat as liquidations totaled nearly $1.7 billion in the past day, with Dogecoin, Solana and Ethereum leading losses among the top 10 cryptocurrencies by market cap.

The price of Bitcoin dropped by 2.3% on the day, posting smaller losses than those of Ethereum and other major altcoins as immediate price pressure piled on alternative assets. Dogecoin was the hardest hit, dropping by 9.9% on the day, followed by Solana (down 6.9%) and Ethereum (down 6.2%), per data from CoinGecko.

The broader market also declined, with CoinGecko data showing total crypto market capitalization at about $3.98 trillion after a 3.7% daily drop.

Around $1.68 billion in positions were wiped out across major exchanges over the past 24 hours, with more than $1.6 billion coming from long positions, according to Coinglass data.

Over 390,000 traders were liquidated in the past 24 hours, with the largest single order, worth $12.7 million on OKX’s BTC-USDT swap, per Coinglass.

Ethereum, meanwhile, saw $501 million in positions liquidated, while Dogecoin lost about $61 million, placing both among the top tokens under pressure.

“The $1.7 billion in liquidations reflects an aggressive flush of leverage from the system,” Dan Dadybayo, research and strategy lead at Unstoppable Wallet, told Decrypt.

Some 95% of positions wiped out “were longs, which shows this wasn’t a short squeeze: it was overexposed bulls getting caught,” he said. “Once ETH and DOGE rolled over, cascading margin calls forced positions to close, with more than $1 billion liquidated in just one hour at the peak.”

Users of prediction market Myriad, launched by Decrypt’s parent company DASTAN, flipped bearish on Bitcoin Monday morning, with a slim majority of predictions now expecting Bitcoin to drop to $105,000 next rather than top $125,000. However, a substantial majority of predictions see Bitcoin holding above $105,000 throughout September.



A “classic liquidity spiral”

Sector breakdowns pointed to sizable losses in riskier categories, with leveraged futures and perpetual positions seeing outsized liquidations relative to shorts.

“Leveraged longs were the first to be squeezed, draining liquidity and widening spreads in a classic liquidity spiral,” Vincent Liu, chief investment officer at Kronos Research, told Decrypt.

Still, despite the “short-term carnage,” the liquidations expose “where capital was stretched too thin, while accumulation will slowly rebuild market depth,” he said.



The liquidations reflected forced unwinding of leveraged longs, with shorts accounting for only about $84 million.

Asked about exposure, Liu said that “large-cap altcoins and leveraged DeFi tokens” are most at risk, with liquidations “hitting those with thinner liquidity first.”

Such a scenario “reflects a risk-off sentiment, where traders are trimming positions across the board,” and shows how the market stress-tests liquidity.”

The latest wave unfolded amid a volatile macro backdrop after the Federal Reserve’s recent rate cut, which barely budged the market and even resulted in a brief rebound before the weekend.

Looking ahead, the crypto market’s next moves “may hinge on Thursday’s jobless claims and Friday’s August PCE inflation data,” Liu said, adding that “a dovish read could spark a bounce, while hawkish surprises may trigger further stress the market.”

Daily Debrief Newsletter

Start every day with the top news stories right now, plus original features, a podcast, videos and more.



Source link

Metaplanet Hits 85% of Bitcoin Yearly Target, Becomes Fifth-Largest Corporate Holder – Decrypt

0
Metaplanet Hits 85% of Bitcoin Yearly Target, Becomes Fifth-Largest Corporate Holder – Decrypt



In brief

Metaplanet acquired 5,419 BTC for $632.53 million, at an average price of $116,724 per coin.
Total holdings now stand at 25,555 BTC, valued at approximately $2.91 billion.
The purchase pushes the company to 5th place globally among corporate Bitcoin holders.

Metaplanet has vaulted into the top five publicly listed Bitcoin holders worldwide, announcing on Monday an acquisition of 5,419 BTC worth approximately $632.53 million.

The Tokyo Exchange-listed investment firm purchased the coins at an average price of $116,724 (¥17.28 million) per Bitcoin, bringing its total holdings to 25,555 BTC, valued at approximately $ 2.91 billion at an average acquisition cost of $106,065 per coin.

The purchase elevates Metaplanet past Peter Thiel-backed Bullish to claim the fifth spot among corporate Bitcoin holders, trailing only Strategy, Marathon Digital, XXI, and Bitcoin Standard Treasury Company, according to Bitcoin Treasuries data.



“Please note this purchase is just the first tranche!” Dylan LeClair, director of Bitcoin Strategy at Metaplanet, tweeted Monday.

The acquisition, funded primarily through the company’s recently completed $1.45 billion international share offering, positions Metaplanet at 85.2% of its year-end 2025 target of 30,000 BTC, and a quarter of the way toward its 2026 goal of 100,000 coins.

“This business has become our engine of growth, generating consistent revenue and net income,” Metaplanet President Simon Gerovich said last week, referring to the company’s Bitcoin treasury operations that officially became a business line in December 2024.

As Bitcoin gains increasing acceptance among institutional investors and corporate treasuries, industry observers call for the importance of maintaining the asset’s core principles. 

“Any push for adoption must preserve Bitcoin’s decentralized ethos,” Lionel Iruk, senior advisor to Nav Markets and the Managing Partner at Empire Legal, told Decrypt.

“Excessive centralization or compromise of BTC’s core principles would risk undermining the very characteristics that set Bitcoin apart and drive its global credibility and appeal,” he added. 

Bitcoin’s value proposition depends on remaining “independent, transparent, and censorship-resistant,” Iruk noted, even as it “gains legitimacy” in traditional finance channels.

Metaplanet has achieved a BTC Yield of 95.6% in Q1 2025, followed by 129.4% in Q2 2025. For the current quarter, from July 1 to September 22, 2025, the company reported a BTC Yield of 10.3%, according to the statement.

Recently, the company also established Metaplanet Income Corp., a Miami-based subsidiary with $15 million in capital, to manage derivatives operations separately from treasury activities.

Daily Debrief Newsletter

Start every day with the top news stories right now, plus original features, a podcast, videos and more.



Source link

Prediction Markets and DAOs Are Cousins, Says Syndicate Co-Founder – Decrypt

0
Prediction Markets and DAOs Are Cousins, Says Syndicate Co-Founder – Decrypt



In brief

Prediction markets and DAOs are both all about coordination, Syndicate co-founder Ian Lee said.
One is focused on human intelligence, while the other on human capital.
Syndicate was once dedicated to providing infrastructure for DAOs.

Prediction markets and decentralized autonomous organizations, or DAOs, may be closer cousins than most people think, according to Syndicate co-founder Ian Lee. 

There are strong similarities between the two, as both are fundamentally about blending social behavior and money, despite what terms suggest, he told Decrypt. (Disclosure: Decrypt’s parent company, DASTAN, operates a prediction market called Myriad.)

“In the abstract, [DAOs are] about coordinating human capital and financial capital at the same time,” Lee explained. “So, prediction markets that coordinate capital as well as human intelligence, I think of those as a DAO.”



Lee, whose company helped create once-prominent DAOs like ConstitutionDAO and Nike’s .SWOOSH, acknowledged that DAO die-hards might not fully embrace his comparison. Still, he believes it highlights how crypto-native labels can sometimes stifle innovation.

Lee prefers to think of prediction markets not just as “betting market things,” but as “social financial networks” used to coordinate human intelligence across sometimes thousands of individuals to predict outcomes.

Syndicate itself has evolved its focus from solely providing DAO infrastructure to enabling communities to launch their own blockchains through so-called appchains.

These days, the on-chain business structures—where control is spread out rather than hierarchical—are often viewed as a pandemic-era memory. Back then, DAOs were everywhere: Snoop Dogg joined a music-focused DAO, Peter Thiel backed investment collectives, and ConstitutionDAO famously tried, and failed, to buy a copy of the U.S. Constitution at auction. 

DAOs still underpin most popular DeFi projects, such as decentralized exchange Uniswap, and infrastructure like Arbitrum’s Ethereum layer-2 scaling network. But compared to prediction markets, one could argue that there’s a lack of visible momentum.

Kalshi, for instance, recently surpassed $1 billion in monthly volume, despite looming regulatory threats. Meanwhile, Polymarket saw 226,000 active traders last month, generating $1 billion in trading volume, according to a Dune dashboard.

These platforms allow users to bet on a vast array of future events, from the outcome of political elections to whether Taylor Swift will announce a pregnancy. In that sense, the next chapter for DeFi may not be written in governance forums, but in the odds of tomorrow’s news.

Daily Debrief Newsletter

Start every day with the top news stories right now, plus original features, a podcast, videos and more.



Source link

‘Pudgy Party’ Review: A Crypto ‘Fall Guys’ on Mobile—But Maybe Better – Decrypt

0
‘Pudgy Party’ Review: A Crypto ‘Fall Guys’ on Mobile—But Maybe Better – Decrypt


In brief

Pudgy Penguins’ battle royale platform game Pudgy Party is a fun, casual-friendly mobile experience.
Developed by Mythical Games, it adds to the proven formula by giving each character unique and fun abilities.
Some characters can be evolved into a legendary NFT, which can be traded on the Mythical marketplace.

Pudgy Penguins mobile game Pudgy Party is a hit with fans of the Ethereum NFT collection—and we agree with the hype. This casual battle royale game takes the best elements from Epic Games’ Fall Guys, evolves on them, and adds a crypto twist.

In many ways, the new mobile title developed by Mythical Games might be better than Fall Guys, as it adds lovable, meme-inspired characters with unique abilities to the game. On top of this, the mobile game has a satisfying and natural progression to it that is turbocharged by its use of NFT items sellable on the Mythical marketplace.

We’ve played several hours of Pudgy Party over the past couple of weeks—here’s our take on how the Pudgy Penguins casual mobile game rises above Fall Guys, and where it falls short.

Image: Pudgy Party

Where Pudgy Party thrives

Just as in Fall Guys, Pudgy Party players are thrown into a lobby together and tasked with sprinting, double-jumping, and dodging their way through randomly selected levels. The last player standing wins the entire game.

Due to its casual focus, Pudgy Party starts with a notably smaller lobby of 20 players compared to Fall Guys’ 40-player limit. As a result, Pudgy Party games are much quicker, suiting its mobile audience, whereas Fall Guys is mostly a casual console and PC game. 

The major differentiating factor that Pudgy Party has, to its benefit, is that the characters offer more than just a cosmetic change; each one has up to four unique, unlockable abilities. For example, the Konk character can smash people with a club, and once fully leveled up, can slam downwards on the ground to knock back players in the area.

Konk Pudgy Party
Konk. Image: Pudgy Party

These abilities create more dynamic gameplay and allow for skill expression in an otherwise hyper-casual game. Characters are leveled up by finding copies of them in chests, which can be unlocked multiple times per session. Fall Guys’ power-ups are less expansive than Pudgy Party’s offerings, limited to certain game modes, and aren’t specific to each character.

On top of this, the Pudgy Party characters themselves lean into the meme-fueled roots of the NFT collection. Aside from the characters being Pudgy Penguins wearing outfits, they’ve also implemented meme icons like John Pork and Italian brainrot memes like Tung Tung Sahur.



This feels like Mythical Games understanding the game’s audience and leaning heavily into it. And I’ve got to admit, there’s nothing better than winning while wearing a John Pork costume.

What about crypto?

Players can optionally choose to create or link their Mythical account via the settings page, which allows for some skins to be traded on the Mythical marketplace.

It’s worth noting that not all characters can be turned into legendary NFT characters. When viewing a character in the “collection” tab, those that can be turned into NFTs will show an additional button on the right-hand side with what item needs to be added for it to transform.

Playing Pudgy Party
Don’t get eliminated. Image: Pudgy Party

For example, once John Pork hits level three, it can be combined with a “Tim Talisman” item to create a legendary Tim NFT character—clearly inspired by the Italian brainrot Tim Cheese meme. Tim Talisman is purchasable from the marketplace for a couple dollars, or can be earned through the game’s battle pass priced at $2.99.

Engaging with this side of the game is extremely optional, as through the several hours of playing, I never felt that I lost due to another person having a better character than myself. Having said that, as the game ages, the player base gets better at the game, and new characters are added, this balance may shift.

Level up John Pork
How to unlock Tim. Image: Pudgy Party

Where it falls short

Pudgy Party does have its flaws, although they are admittedly small.

In typical mobile gaming fashion, there are a million things to click and unlock between every game. On one hand, this is great as it means that I’m advancing without needing to pay anything. But on the other hand, it’s annoying and stops me from jumping into the next game.

That issue was only intensified by the short length of each game. Again, this could be seen as a benefit for the casual gamer, but at times, I felt it was a tad too short for me to feel competitive against my opponents.

Fall Guys’ level design is top-notch and a major factor in its massive success. Mythical’s level design is a few steps below this extremely high bar, resulting in the game feeling a little bland at times. Pudgy Party’s library of levels is also quite small, and expectedly so for a game that is less than a month old.

That said, Pudgy Party’s level design isn’t bad—it just isn’t very creative when adapting level types already seen in Fall Guys. Well, apart from Cracktop Isle, which requires players to catapult from lava island to lava island—more of that, please.

Cracktop Isle
Cracktop Isle. Image: Pudgy Party

Should you play Pudgy Party?

Pudgy Party is undoubtedly a standout among crypto games. Like many blockchain titles, it takes an already established formula and attempts to improve on it—and in this case, Pudgy Party actually sticks the landing. 

As a fan of Fall Guys, the Pudgy Penguins spinoff feels like a natural way for the casual battle royale genre to transition to mobile while adding a new gameplay element to keep it feeling fresh. If it gets regular and thoughtful updates, then we see no reason why Pudgy Party couldn’t establish itself as a big player in the casual mobile gaming scene.

GG Newsletter

Get the latest web3 gaming news, hear directly from gaming studios and influencers covering the space, and receive power-ups from our partners.



Source link

Popular Posts

My Favorites