HORYONCrypto Market Intelligence
BitGo moved its $7.4B in wrapped Bitcoin from LayerZero to Chainlink CCIP as its exclusive cross-chain infrastructure, pushing CCIP's share of wrapped Bitcoin to ~70% or $16B+ in value.
Polymarket is negotiating a new funding round valuing the prediction market platform above $20B, up from its $15B valuation four months ago, per CNBC.
Confirmed losses from the Coldcard hardware wallet exploit have crossed $100 million, with Galaxy Research estimating at least 15 different attackers have exploited the vulnerability, and a suspected fourth wave that could push the total near $130 million
Ethereum researchers submitted EIP-8361, which would gradually burn validator rewards as the staking ratio approaches 50%, effectively capping net issuance. Aave founder Stani Kulechov warned it would make staking yields unattractive and hurt DeFi demand for ETH.
Cloudflare rolled out programmable wallets and a Monetization Gateway that let AI agents autonomously pay for APIs and content via stablecoins using the x402 protocol. Humans set spending limits and merchant allowlists; wallet handles are claimable now, with funding and agent features coming later.
Eliza Labs founder Shaw Walters declared the ai16z/ElizaOS token dead and said the foundation is winding down after settling a class-action lawsuit with holders filed by Burwick Law. The project previously raised $33M from a16z and Greenoaks.
BlackRock launched tokenized share classes for select European money market funds across its $311 billion Institutional Cash Series platform, built with Kinexys by JPMorgan, allowing for 24/7 transfers, settlement, and programmable payments
Web3 game developer Proof of Play is ceasing operations, citing inability to sustain a scalable business. The a16z-backed studio open-sourced its assets under a CC0 license; the Pirate Nation Foundation remains independent to support the PIRATE token.
Dinari launched 724 regulated tokenized US stocks as dShares for eligible US investors via self-custody wallets on Ethereum, Arbitrum, Base, and Avalanche, settling in USDC. The entire S&P 500 is now tradable 24/7 onchain through the OFT standard.
The episode discusses the potential rotation of capital from AI equities into Bitcoin and altcoins as the S&P/Bitcoin ratio breaks its 200-week moving average. Key topics include the status of the Clarity Act, the rise of memecoin revenue on Pump.fun, and the evolution of DeFi liquidity through Uniswap's fee switch and Aerodrome's model.
This episode explores the mechanics and implications of revaluing US government gold from its statutory $42.22/oz to market price (~$4,000/oz), which would generate ~$1.06T in Treasury cash without new debt or taxes. It analyzes legal pathways, historical precedent (1934 Gold Reserve Act), and three scenarios for spending the proceeds, framing the debate as a symptom of unsustainable US fiscal arithmetic.
Jared Dillian discusses his new book advocating a 20/20/20/20/20 portfolio (stocks, bonds, gold, cash, real estate) designed for maximum Sharpe ratio, arguing it has returned ~9% annually since 1971 with half the volatility of an 80/20 portfolio. He also analyzes Fed policy, yield curve steepening, sector rotations (bearish on energy/financials, bullish on gold/healthcare/staples), and predicts the Fed will cut rates to 3% while long rates stay elevated.
Eleanor Terrett discusses the stalled Senate FIT21 crypto bill, highlighting the procedural hurdles and political tensions around ethics rules and bankruptcy protections. The episode also covers the Blockchain Regulatory Certainty Act (BRCA) and the broader Democratic skepticism toward crypto regulation, with a prediction market placing the Clarity Act's 2026 passage odds at 30%.
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