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Aave recently announced a new tokenomics overhaul featuring buybacks, and it’s not the only project out there making this move. Since Trump won the election, more crypto projects have introduced tokenomics overhauls, whether via revenue share or buybacks, viewing the regulatory climate as more accommodating for such experimentation. Arbitrum is another prominent name adopting a buyback program, signaling a shift toward implementing TradFi techniques as crypto projects attempt to boost their bottom line and better control their token supply. With these tokenomic overhauls, chatter has erupted on X about whether or not buybacks are the right approach for strengthening digital assets. Opponents dismiss buyback-and-burn as an outdated, finite solution from TradFi, whereas supporters tout it as a direct demonstration of product-market fit and market dominance.
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Earlier this month, I wrote about the Fluidkey privacy app on Base. It lets you obscure wallet connections to outside observers. But what if you want full untraceability rather than just unlinkability? For example, say you want to play Crypto: The Game under an alt account rather than under your real name, but onchain sleuths can study the wallet address you mint your entry pass NFT from. How can you ensure there's no way to connect your transactions from your main wallet to your alt wallet?
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In crypto, new chains are a dime a dozen and tend to follow familiar patterns. Thus, over the past several years we've seen a fair share of copycat chains with little to add to the conversation. Celestia has been different. The chain has taken a unique approach, dialing in its functions as a data layer for rollups, allowing chains to post their data on the Celestia network, similar to how blobs are posted on Ethereum. While this model presents an exciting next step for blockchain technology, the real question is, how has Celestia been performing so far, and what are its plans to compete with other chains like Ethereum?
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2️⃣ SEC Drops More Crypto Cases The SEC continues to back down from enforcement actions against crypto companies. This week, the SEC dropped its case against one of the biggest centralized exchanges, Kraken. Kraken was sued by the SEC back in November of 2023 alleging that they were acting as an unregistered securities exchange. The SEC also dropped cases against Cumberland and Yuga Labs. Cumberland was sued by the SEC only last year alleging that they were operating as an unregistered securities dealer. Yuga Labs has been going at it with the SEC a bit longer, over three years. The SEC opened a probe into Yuga Labs to try and determine if specific NFTs were securities. The total number of cases dropped by the SEC over the past month is now up to 11.
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1️⃣ Trump Establishes Bitcoin Reserve On Thursday, Donald Trump signed an executive order to establish a Strategic Bitcoin Reserve using tokens already held by the government via seizures. The market dumped BTC prices, in part disappointed that the government would not be buying additional bitcoin, but also just selling the news of the signed order. It was a perplexing week for the crypto reserve after Trump dropped some "truths" on his social media platform first mentioning XRP, SOL, and ADA as targets for the crypto reserve. After some confusion and backlash, he later added, “And, obviously, BTC and ETH." The inclusion of so-called "America coins" in the reserve was to the chagrin of many in the crypto space, even including Solana's founder.
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Berachain has quickly become one of the fastest-growing chains in the space, surpassing Base and Arbitrum in total value locked (TVL) according to DefiLlama, and its mainnet has been live for less than a month! This rapid growth signals that users are migrating to Berachain to put their capital to work. But why not maximize your earnings by securing potential airdrop rewards while providing liquidity or lending out your tokens?
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When it comes to crypto’s hottest airdrop opportunities, hunters can find themselves trapped in an endless loop, forced to continually seed wallets with fresh tokens, constantly engage with applications, and patiently wait (sometimes forever) for their favorite farms to bear fruit… For years, regulatory uncertainty prevented many crypto companies from launching their own native tokens; ironically, these circumstances provided ideal growing conditions to cultivate the juiciest airdrops of all time! Under newly inaugurated President Donald Trump, the Securities and Exchange Commission (SEC) has pumped the brakes on many of its high-profile crypto enforcement actions. While the staff decisions made in many of the cases are not yet final, they collectively signal that U.S. financial regulators are working to provide a ruleset for digital asset issuance.
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When it comes to crypto’s hottest airdrop opportunities, hunters can find themselves trapped in an endless loop, forced to continually seed wallets with fresh tokens, constantly engage with applications, and patiently wait (sometimes forever) for their favorite farms to bear fruit… For years, regulatory uncertainty prevented many crypto companies from launching their own native tokens; ironically, these circumstances provided ideal growing conditions to cultivate the juiciest airdrops of all time! Under newly inaugurated President Donald Trump, the Securities and Exchange Commission (SEC) has pumped the brakes on many of its high-profile crypto enforcement actions. While the staff decisions made in many of the cases are not yet final, they collectively signal that U.S. financial regulators are working to provide a ruleset for digital asset issuance.
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3️⃣ Bank of America CEO Excited for Stables Bank of America CEO, Brian Moynihan, spoke at an Economic Club meeting in Washington, D.C., where he was asked about the outlook for stablecoins if comprehensive legislation is passed. He responded, "If they make that legal, we will go into the business," suggesting that Bank of America may already be preparing to enter the stablecoin market. He also hinted at the possibility of the bank offering dollar-backed tokens linked to customers' accounts.
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Fluidkey is a privacy app on Base. It centers around stealth addresses powered by private ENS domains and Safe smart accounts, with support for social logins (via Privy), multichain swaps (via SOCKET), and bank transfers (via Bridge). The support for moving money onchain and offchain through Bridge is new, so let's recap the basics of Fluidkey and then get you up to speed on how to add this useful crypto ramp to your toolbox.
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Sonic (an evolution of Fantom) is an L2 EVM blockchain focused on DeFi. Its main appeals for builders and participants are its fee structure and speed. It’s become a very popular chain for DeFi enthusiasts, ranking 13th in TVL currently at $710 million and growing. Its native token, S, is used as gas to pay for transaction fees to interact with its many apps. Sonic is distributing 190,500,000 S tokens as part of an airdrop campaign to reward participants in the network. The first season of the airdrop will conclude around June 2025, with 25% of the allocation immediately available and 75% vested over 270 days (as NFTs, and therefore, these positions will be transferable).
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2️⃣ Safe to Blame for Bybit Hack Following the $1.5 billion Bybit hack last Friday, an investigation was launched to determine how the Lazarus Group pulled off the biggest crypto heist of all time. On Wednesday morning, Bybit CEO Ben Zhou released a tweet containing reports from Sygnia Labs and Verichains, which indicated that the exploit stemmed from Safe’s infrastructure rather than Bybit’s systems. Sygnia Labs’ report stated that "the root cause of the attack is malicious code originating from Safe’s infrastructure."
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1️⃣ SEC Continues to Drop Cases It has been a great week (in regulation) for crypto, as SEC staff have begun dropping cases left and right against crypto firms. The first major development occurred last Friday when Brian Armstrong announced that Coinbase had agreed with SEC staff to drop its case, pending approval from SEC commissioners. This case had been ongoing for nearly two and a half years, with the SEC alleging that Coinbase violated federal law by operating as an unregistered exchange. That was just the first domino. SEC staff have also begun dropping cases against companies like Uniswap, Gemini, OpenSea, Consensys, and Robinhood over similar allegations. However, these dismissals are still awaiting commissioner approval.
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Over the past year, enthusiasm for Layer 2 rollups — long praised for their scalability, lower fees, and rapid launches — has significantly cooled off. Over 140 L2s are live, yet fewer than half exceed $10M in TVL, fueling consensus that the ecosystem is oversaturated, with Ethereum’s underperformance further dampening the mood. Meanwhile, “alt” L1s — most notably Solana, though also Sui and Hyperliquid — have demonstrated remarkable economic potential in both fundamental growth and token price, prompting many to consider a fresh L1 more compelling than yet another L2.
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This week brought with it an undeniable vibe shift in the crypto market. Just last month, investors were eagerly anticipating new all-time highs, but the past few days have been marked by significant declines in crypto’s majors and profound weakness for many top altcoins. In our citizen-exclusive Bankless article published last week, we revealed how risky 0DTE crypto options can enable you to profit big from sudden market swings. The recent fall in prices proves just how powerful such options can be, with 0DTE put options returning core-shaking multiples amid the chaos!
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I just collected "Farcaster: Lion"
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Donald Trump is the biggest celebrity to ever launch a crypto token. Alongside an NFT trading card collection, America’s 47th president has unleashed not just one, but two distinct tickers for crypto degens to ape. While regulators have released limited information on how they intend to police the crypto industry, careful examination of the unique facts and circumstances surrounding Trump’s two tokens could yield important insights on how his administration will apply policy to digital assets.
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Outside of a totally permissionless financial system, a compelling vision of crypto has always been building the next iteration of the internet, particularly for creatives. Through infrastructure like NFTs, crypto has introduced new ways for artists and creators to establish ownership over digital intellectual property (IP), enabling them to monetize or reformat their work in a more durable, transparent medium. While these innovations represent steps in the right direction, they remain crude and simple, offering only new ways to earn or store digital work but failing to address deeper structural issues.
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I just registered for @ampsfun
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Gold is on a tear, up 15% in just 6 months, outpacing the S&P 500. With rising concerns over inflation, investors are turning to gold as a hedge. But what if you could own gold without the hassle of physical storage? Today, let's rundown how you can buy gold onchain. Bankless readers are well aware of the benefits of self-custodying their crypto, but when it comes to self-custodying physical gold, it can be easy to overlook the benefits of buying gold onchain. There are some big advantages!
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