OVERVIEW

Hope And Fear Now Sharing Custody Of The Market On Alternating Days 🎭️

Here’s What’s Happening 👇️

Today’s top trending tickers: $ADA ( ▲ 2.7% ) , $BNB ( ▲ 0.1% ) , $XRP ( ▼ 0.22% ) , $HYPE ( ▲ 3.35% ) , and $ETH ( ▼ 1.04% )  

NEWS
BlackRock Ships Two More Tokenized Cash Products Into The Wreckage 🚢

It’s no lie that the crypto market has spent the better part of a year in Sucksville. Price action has been ugly. BlackRock does not appear to have noticed. 🤷

They just launched two tokenized money market products today: $BSTBL ( 0.0% ) (BSTBL), a tokenized share class of an existing fund on Ethereum and $BRSRV ( 0.0% ) , a purpose-built tokenized money market fund for institutional crypto accounts with daily dividend reinvestment and multi-chain access.

Both hold cash, short T-bills, and overnight Treasury repo. Both are structured to qualify as eligible reserve assets for stablecoin issuers under the GENIUS Act. Which, at least to me, reads as the main target. No so much a bet on prices but a bet on who custodies the collateral behind every stablecoin that wants to stay compliant.

And BlackRock’s pockets are deep. BlackRock's cash management arm runs roughly $1.073 trillion. US money market funds hold north of $8.4 trillion. Against those numbers, whatever happened to your alt bag last quarter is a rounding error. 😯

SPONSORED

One Shark Missed Billions… Another Saw This Coming

Imagine turning down Uber at a valuation of $10 million, only to watch it go public at over $80 billion.

That’s exactly what happened to Mark Cuban… a 799,900% return, gone.

But original Shark Tank investor Kevin Harrington built his career doing the opposite: spotting asymmetric opportunities before they go mainstream.

Like Uber turned vehicles into income-generating assets, Mode Mobile is turning smartphones into income streams.

They were named the #1 fastest-growing software company by Deloitte and have already helped their users earn and save over $1B.

Kevin Harrington invested early.

And at just $0.52/share, you can still get in before their potential IPO.

Secure shares at $0.52 while the pre-IPO window is still open.

^{Potential Uber return for Marc Cuban does not take into account dilution.}

^{The Deloitte rankings are based on submitted applications and public company database research, with winners selected based on their fiscal-year revenue growth percentage over a three-year period in 2023.}

^{Please read the offering circular at invest.modemobile.com. This is a paid advertisement for Mode Mobile’s Regulation A Offering.}

NEWS
NEAR Figured Out How to Bill You Without Billing You 🤯

This is kind of badass. 👀 

NEAR launched Staking for NEAR AI, which simply means your staked NEAR rewards can convert into monthly compute credits that scale with the size of your stake. No card on file. No cloud account. Unstake and the principal comes back to your wallet. All 43 models on the platform, including Anthropic, OpenAI and Google, are accessible this way.

It’s not so much spending money but renting the yield. Honestly, this is one of the things you thinkg, ‘that’s obvious’ and then you also think, ‘why did this take so long to be a thing?’. It’s kind of crazy.

Also, most token utility use cases are just a payment with extra steps. This one takes the staking reward, which is real yield, and swaps it for a service you are probably using anyway.

Which means your capital/NEAR you’re staking is doing two jobs at once: securing the protocol/network and eliminating a monthly conversation you might have with your wife when she asks, ‘do we really need to pay $200 a month for this?’ whenever she looks at the credit card bill. 💳️

STOCKTWITS
Stuff Stocktwits People Said 👇️

NEWS
Guy Kept The Seed Phrase From A Tutorial Video And Made $628k 🤦

Binance believes a former employee did something very, very naughty. 🤫

$BNB ( ▲ 0.1% ) says a former employee held onto a wallet he'd created while recording an educational video, generated a new private key off the old seed phrase after being let go, and used the address to launch a memecoin. 

CZ even posted about it:

According to Lookonchain (man, they are so good) the token was ASTEROID. Four fresh wallets bought 796.7 million tokens right after deployment, 79.67% of supply, for roughly $10,000. He then sold 718.8 million for 1,103 BNB, about $638,000, netting an estimated $628,000.

We’ll keep you updated if something develops. Which means you and I will probably forget this incident ever happened. 🧠 

NEWS
Bancor Has a Point About What An AMM Really Is 🫵 

You know, it’s a shame that $BNT ( ▼ 0.65% ) doesn’t get more attention and credit in the crypto space, specifically in the DEX and DeFi space. They come out with some fantastic material. Case in point: their most recent blog post about Automated Market Makers (AMMs) vs. On-chain orderbooks. 📔

Bancor's project lead, Dr. Mark Richardson, makes this point: an AMM is a very specific subset of an orderbook that relies on explicit instructions to maintain itself. Not the natural shape of a DEX. Just one implementation of one, which happened to win and then got treated as, well, the only way to do it.

Bancor’s Carbon DeFi changes things up a little. Instead of makers dumping capital into a shared pool that prices everything off one invariant, each maker publishes their own executable curve - exact price or a continuous range, their budget, their direction. Buy side and sell side are separate orders that the maker can link or leave independent.

Fill happens at the quoted price (which is… how things are supposed to happen…). No slippage, no sandwich.

That thing called ‘Impermanent Loss’? It’s a big problem when a concentrated liquidity position approximating a limit order will sell your token on the way up and buy it right back on the retrace. Same capital, same curve, both directions.

A Carbon limit order fills and stays filled. Basically, no automatic sell low and buy higher (nope, I meant to write it that way) just to keep a liquidity pool balanced. What a relief.🤦 

STOCKTWITS
Stuff Stocktwits People Said 👇️

NEWS IN THREE SENTENCES
AI, Stablecoins, & Privacy News 🕵️

🎮 Ontology Wants Better AI Judges For Games

Game AI is hard to grade with public leaderboards: models can overfit, while qualities like personality, fun, and long-horizon behavior still need human judgment. Ontology’s Proof of Judgement recruits verified gamers, attaching ONT ID, credentials, reputation, and selective disclosure to their evaluations without sending buyers personal data. Ontology.

🌎 Celo Adds Six Latin American Currencies to the Stablecoin Shelf

Ripio’s wFIAT stack is live on Celo with tokens tracking the Argentine peso, Brazilian real, Mexican peso, Colombian peso, Chilean peso, and Peruvian sol. Users get no-cost on- and off-ramps, while Textile FX opens wARS/USDT and wBRL/USDT trading from day one. Celo now supports 31 stablecoins, giving remittances and regional onchain FX something more useful than forcing every transaction through the dollar first. Celo.

NEWS IN THREE SENTENCES
Real World Asset Tokenization (RWA) News 🪙

🕸️ Pogun Makes Reputation Expensive To Fake

Anyone can create 10,000 Cardano credentials; Pogun’s idea is ensuring none inherit trust merely by getting spawned. Every loan records the borrower’s repayment history and the lender’s underwriting history, then lets trust decay and divide through downstream relationships, so Sybil wallets dilute influence instead of multiplying it. Kind of cool. Unlike Cardano’s price action (until recently at least). Cardano.

STOCKTWITS
Stuff Stocktwits People Said 👇️

NEWS IN THREE SENTENCES
Metaverse, NFT, & Gaming News 🎮️

⚽ Kayen Turns Liquid Staking Into a Four-Week Tournament

Stake CHZ, receive stCHZ, and its CHZ redemption value rises as rewards compound even though the wallet balance stays flat. Kayen’s August 3-31 campaign distributes 350,000 CHZ proportionally through five scoring routes: hold, provide liquidity, buy, migrate, or refer. Loyalty can lift the multiplier to 1.8x, but withdrawing over half or splitting wallets sends it back to 1.0x. Chiliz.

NEWS IN THREE SENTENCES
DeFi, DEX, & Lending News 🏦

⏱️ Hyperliquid Gives TWAP Orders More Adult Supervision

Hyperliquid’s on-chain TWAP orders can now wait for a trigger price, stop at a maximum buy price or minimum sell price, and run for up to seven days. Suborder timing adjusts dynamically from total size and duration, with 30 seconds still the floor. Minimum order size drops to $100 while each slice remains at least $10. Hyperliquid.

🛒 Pennysia Adds More Without Building Another Store

Pennysia already combines DEX, aggregator, and RFQ quotes inside one Ethereum marketplace; SODAX now extends selected routes beyond Ethereum, especially into non-EVM networks. A user states the trade once, then SODAX sources and settles across more than 20 networks and 120 assets behind the same interface. SODAX.

NEWS IN THREE SENTENCES
Protocol News 🏦

🏴 Wanchain Offers the NIGHT Thief a 10% Retirement Package

After the July 20 Cardano bridge exploit, Wanchain is offering the attacker a deal: return 90% of the stolen NIGHT by 12:00 UTC on August 6 and keep 10% as a white-hat bounty. In exchange, Wanchain says it will not pursue civil claims. Wanchain.

🦖 Tezos Would Like “Old” Removed From “Outdated”

Tezos is eight years into mainnet and nearly 12 years removed from its whitepaper, which qualifies as ancient under crypto’s fruit-fly calendar. They say age helps when software keeps evolving, with Tezos pursuing data availability, enshrined rollups, and Tezos X without abandoning decentralization. Fair distinction. Tezos.

⚙️ Sei Giga Starts Replacing the Engine While Driving

Sei’s proposed 6.6 release is the first mainnet step toward Giga’s 200,000 TPS target, introducing Eidos for storage and making Ares the default execution engine. Eidos separates EVM history from Cosmos state; Ares uses a new backend while the old engine catches unsupported transactions and checks results block by block. Sei.

OLD NEW
Other Stuff That Happened Today, But A Long Ass Time Ago ⌛️

August 3

• 435 - Emperor Theodosius II exiled Nestorius during a theological fight that permanently split branches of Christianity

• 1460 - Scotland’s King James II died when one of his own cannons exploded beside him

• 1492 - Columbus left Spain with three ships

• 1527 - John Rut sent the earliest known English-language letter from North America

• 1778 - Milan’s La Scala opera house opened

• 1852 - Harvard beat Yale in America’s first intercollegiate sporting event - a rowing race

• 1900 - Harvey Firestone founded the tire company Firestone

• 1914 - Germany declared war on France, widening World War I

• 1936 - Jesse Owens won his first Berlin Olympics gold medal in front of Hitler’s Nazi regime

• 1949 - Two rival basketball leagues merged to create the NBA

• 1958 - The nuclear submarine Nautilus became the first vessel to travel beneath the North Pole

• 1960 - Niger gained independence from France

• 1977 - RadioShack introduced the TRS-80, helping drag personal computers into ordinary homes

• 1981 - Nearly 13,000 U.S. air traffic controllers went on strike

• 2004 - NASA launched MESSENGER, the first spacecraft designed to orbit Mercury

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Author Disclosure: The author of this newsletter holds positions in AVAX, ADA, PUDGY, WLD, NEAR, INJ, LTC, LINK, ZEC, XLM, and FET. 📋