- EIP-8141 may allow Ethereum users to pay for gas with stablecoins by sometime next year (very interesting - link below)
- $QQQ at $718.96
- Oil at $92.72 and lots of attention on crack spreads
- Gold at $4,405.40
- Total crypto market cap at $2.765T
- My beloved $FXN up almost 200% from spring lows - to $28.19(!) (still insanely undervalued though!)
- Hunter Biden to apparently release a memecoin on Wednesday called $LAPTOP, with part of supply airdropped to wallets that lost money on $TRUMP and 30% of supply to be burned if Democrats win the 2028 election
- Also... odds of Democrat sweep in November have risen to 52%
- $PONS, $ZEC, and $ENA all getting lots of positive attention on the TL (link below)
- Copper hits ATH
- Variational still most anticipated airdrop (link below)
- Stacks $STX to launch self-custodial Bitcoin staking
- Biggest bond bear market in US history continues... with $TLT (long-duration US bond ETF) averaging -7.65% per year the last 5 years, while conversely $QQQ (stonks) averaged +13.82% per year during that time
- (Related) 30 year fixed rate mortgages in the US are averaging 6.71% right now, down from high of 7.79% and up from 2.65% in 2021
- Above issue (yields and thus mortgages at record highs - since mortgage rates track long-duration US bond rates) is a very bullish setup for US real estate imho, at least residential (definitely not office) and at least in states people want to move to... As a result I still have significant exposure to $JOE (FL landholding + development company with huge holdings in the Panhandle/Bend section of FL) as my main RE exposure
- Also re: the above... I think the odds on Polymarket re: the Fed raising vs cutting rates are WAY WAY off (and thus asymmetric) and therefore I am seriously considering throwing a bit of money on bets that they somehow actually cut rates by EOY. The payoffs are absolutely insane proportionally and I can still 100% see it happening depending on how things go. Consensus is the opposite though with the bond market pricing in an 88% chance they RAISE by end-of-year...
- Also re: the above... I thought Trump's post on Truth Social over the weekend was quite shocking, where he seemed to openly threaten the Fed... saying (again, directed toward the Fed): "LOWER THE RATE OR I'LL STOP TRADING WITH COUNTRIES WITH WHICH WE HAVE A DEFICIT..." - which is quite startling and perhaps blackpilling to consider the President and Fed are openly at war to this degree... but it seems like Powell and his ilk who are still on the board are refusing to lower rates as Trump (and presumably Warsh) want... very fascinating situation that really brings up a lot of questions about how much control over the Fed the Executive Branch is supposed to have in the US...
- Also lots of talk about security and OpSec after Bold losing all his on-chain funds... tbh I remain a huge fan of just having all your on-chain crypto on a dedicated $200 Chromebook (or several) with multiple handwritten seed phrases cut in half and kept in multiple secure locations. Then if you are managing a defi protocol or something and need to sign all the time create a multi-sig. Or if you're degening on-chain and doing lots of transactions just separate your long-term holdings from that wallet. And if you have serious wealth in crypto diversify between on-chain and off-chain and various chains/counterparties/etc.
Conclusion
That is everything lads!
Remember to get jacked and tan for the $ETH $10k party! 💪
-and lift weights while watching the sun set! see pic below :)
75·ALong
m
meme9/7meme
Crypto + Macro Stuff I'm Looking At Today
...
- Tradfi markets closed today for Labor Day
- CPI and PPI inflation data coming out this week
- EIP-8141 may allow Ethereum users to pay for gas with stablecoins by sometime next year (very interesting - link below)
- $QQQ at $718.96
- Oil at $92.72 and lots of attention on crack spreads
- Gold at $4,405.40
- Total crypto market cap at $2.765T
- My beloved $FXN up almost 200% from spring lows - to $28.19(!) (still insanely undervalued though!)
- Hunter Biden to apparently release a memecoin on Wednesday called $LAPTOP, with part of supply airdropped to wallets that lost money on $TRUMP and 30% of supply to be burned if Democrats win the 2028 election
- Also... odds of Democrat sweep in November have risen to 52%
- $PONS, $ZEC, and $ENA all getting lots of positive attention on the TL (link below)
- Copper hits ATH
- Variational still most anticipated airdrop (link below)
- Stacks $STX to launch self-custodial Bitcoin staking
- Biggest bond bear market in US history continues... with $TLT (long-duration US bond ETF) averaging -7.65% per year the last 5 years, while conversely $QQQ (stonks) averaged +13.82% per year during that time
- (Related) 30 year fixed rate mortgages in the US are averaging 6.71% right now, down from high of 7.79% and up from 2.65% in 2021
- Above issue (yields and thus mortgages at record highs - since mortgage rates track long-duration US bond rates) is a very bullish setup for US real estate imho, at least residential (definitely not office) and at least in states people want to move to... As a result I still have significant exposure to $JOE (FL landholding + development company with huge holdings in the Panhandle/Bend section of FL) as my main RE exposure
- Also re: the above... I think the odds on Polymarket re: the Fed raising vs cutting rates are WAY WAY off (and thus asymmetric) and therefore I am seriously considering throwing a bit of money on bets that they somehow actually cut rates by EOY. The payoffs are absolutely insane proportionally and I can still 100% see it happening depending on how things go. Consensus is the opposite though with the bond market pricing in an 88% chance they RAISE by end-of-year...
- Also re: the above... I thought Trump's post on Truth Social over the weekend was quite shocking, where he seemed to openly threaten the Fed... saying (again, directed toward the Fed): "LOWER THE RATE OR I'LL STOP TRADING WITH COUNTRIES WITH WHICH WE HAVE A DEFICIT..." - which is quite startling and perhaps blackpilling to consider the President and Fed are openly at war to this degree... but it seems like Powell and his ilk who are still on the board are refusing to lower rates as Trump (and presumably Warsh) want... very fascinating situation that really brings up a lot of questions about how much control over the Fed the Executive Branch is supposed to have in the US...
- Also lots of talk about security and OpSec after Bold losing all his on-chain funds... tbh I remain a huge fan of just having all your on-chain crypto on a dedicated $200 Chromebook (or several) with multiple handwritten seed phrases cut in half and kept in multiple secure locations. Then if you are managing a defi protocol or something and need to sign all the time create a multi-sig. Or if you're degening on-chain and doing lots of transactions just separate your long-term holdings from that wallet. And if you have serious wealth in crypto diversify between on-chain and off-chain and various chains/counterparties/etc.
Conclusion
That is everything lads!
Remember to get jacked and tan for the $ETH $10k party! 💪
-and lift weights while watching the sun set! see pic below :)
0·-Neutral
o
oi_change9/7market
STX/USDT OI 5min Down 7.29% $1.41M dropped to $1.31M, Price 0.00%, Short Squeeze
0·-Neutral
n
news9/7news
Self-custodial Bitcoin staking goes live in 3 days.
Anchor participants in the first Genesis Bond include UTXO (a Nakamoto Inc. company), HashKey Cloud, and 21shares.
Not on the whitelist? Pooled Bitcoin staking is open to anyone. The Xverse pool is live below 👇 https://t.co/hzQ4Im3FTE
75·ALong
n
news9/7news
Thoughts on the Liquid whitehat incident:
Background:
- Liquid is a Bitcoin L2/sidechain, launched by Blockstream in 2018. 4,000 BTC from their bridge was taken by a whitehat yesterday (and then mostly returned).
- You can think of the Liquid network as running a fork of Bitcoin Core (called Elements). Elements added new features such as confidential transactions, other assets, BTC peg in/out, and new opcodes.
- The bug seems not to be a cryptography one but in integration logic. Bug A was there for years, was recently patched, and the patch likely introduced Bug B, which was exploited.
- I’m glad this was a whitehat, and most of the funds have been returned. Could’ve been much worse if an actual attacker.
Learnings:
- There should’ve been rate limits in place both at the swap service and peg out. There likely were some limits that didn’t trigger. Such rate limits and time delays can drastically reduce the potential damage.
- It’s clear that we’re in the age of AI-driven security wars. The new capability of these models is forcing us to discover bugs that went undetected for years. Overall, this will be a net positive, even if short-term painful.
- Both the earlier Zcash bug and this Liquid one reinforce how keeping Bitcoin simple and hardened is the right call. If anything, we should be pushing for Bitcoin ossification.
Stacks security:
- I got several questions about Stacks. We also have a bridge for sBTC. The exact Elements bug isn't applicable here, as Stacks doesn’t use Elements. For any bridges or DeFi apps, security should be priority #1. Stacks devs actively run frontier AI models (both open-source and from frontier labs) on our repos. We also have active bug bounty programs with Immunefi and others. Our regular security audit reports are also available publicly.
- Even with the emphasis on security, AI model testing, audits, etc, for over a year, Stacks devs have been pushing in the long-term direction of self-custodial solutions. The Bitcoin bonds/staking upgrade keeps the BTC deployed fully self-custodial (no bridge or smart contract risk). Further, new approaches to self-custodial lending and other areas are in the R&D stage right now.
Summary:
Running the absolute latest AI models on sensitive repos is job #1 for crypto devs. We’ll see a short-term increase in discovered bugs but get hardened systems and healthy practices in the long term.
Stacks is now heavily focusing on self-custodial solutions for bitcoin capital markets, while relentlessly doing defensive security testing/audits on existing infra.
The Liquid incident should be a wake-up call to take AI threats extremely seriously, even at Bitcoin Core (we’ve done some work on this). We should ossify Bitcoin Core and keep it as simple as possible; all new bitcoin functionality can be built on layers like Stacks. Forward!
75·AShort
n
news9/7news
Last week in Bitcoin:
→ Bitcoin held the low $80Ks, printing a weekly high near $82K on September 3 (its highest since May) before a blowout August jobs report pushed it back under $80K, up roughly 2% on the week.
→ The Liquid Network was paused after roughly 4,000 BTC (~$320M) left the Blockstream-run Federation wallet via an Elements software bug.
→ The UK's Hargreaves Lansdown opened nine crypto ETNs to its ~2M retail clients, nearly a year after ban was lifted.
→ France's Capital B ran a rare raise-and-buy in a single announcement on September 7, adding 376 BTC via a €30.1M raise to reach 3,521 BTC group-wide.
→ US spot Bitcoin ETFs pulled in $986.9M for the week (third straight positive week, IBIT led at $691.5M).
→ 21Shares said it will commit its own BTC treasury to the Stacks Genesis Bond for institutional Bitcoin staking launching September 10.
→ The CLARITY Act's fate hinges on a September 15 Senate cloture vote needing 60 votes, with stablecoin rewards, ethics rules, and AML provisions still unresolved.
→ Optech #421 advanced post-quantum work with two new proposals (SHRINCS and DropKick) alongside a Core Lightning DoS fix.
75·ALong
n
news9/6news
OpenAI became the underdog and delivered with Astra. Underdog mode is a flow state.
5·CNeutral
n
news9/3news
NEWS: 21Shares will deploy BTC in Stacks.
The issuer of world’s largest suite of crypto ETPs, including ARK 21Shares BTC ETF, will be an inaugural launch partner.
First bitcoin bond launches Sep 10.
Forward!
80·ALong
n
news9/3news
STX is now live on @Bullish.
One of the largest venues in the world for BTC spot volume just listed the asset powering Bitcoin-native capital markets.
Institutions across 50+ jurisdictions can now access STX where they already trade Bitcoin. https://t.co/skQzn3lOv1
95·A+Long
n
news9/2news
Bitcoin Staking arrives on Stacks at Bitcoin block 966,350.
The Genesis Bond opens the first bonding period on ~Sept 10. For the first time in crypto, self-custodial Bitcoin Staking earns native BTC on the Bitcoin L1.
This is productive Bitcoin.
TL;DR, two ways in 👇 1/4. https://t.co/UNUHjtSGWA
80·ALong
m
meme9/2meme
Bitcoin Staking arrives on Stacks at Bitcoin block 966,350.
The Genesis Bond opens the first bonding period on ~Sept 10. For the first time in crypto, self-custodial Bitcoin Staking earns native BTC on the Bitcoin L1.
This is productive Bitcoin.
TL;DR, two ways in 👇 1/4.