HORYONCrypto Market Intelligence
Trump Media has reported a $360.6 million unrealized loss on digital assets in the first half of 2026. The company held 9,477 bitcoin and 756.1 million crypto-com-chain, worth a combined $597.7 million, as of June 30.
Harmony, a Layer 1 blockchain, suffered an exploit resulting in the unauthorized minting of 4 billion ONE tokens, which is equivalent to roughly 26% of the token's supply. The incident has led to a significant price drop, and the company is working with exchanges to freeze and recover the stolen funds.
The SEC has scheduled a meeting to propose "Regulation Crypto," a formal rule that would create a legal path for crypto firms to raise capital without triggering SEC registration requirements. This proposal could have significant implications for the crypto industry.
TRON's circulating USDT has reached a record $87.9 billion in Q2, surpassing Ethereum, with the network processing $2.1 trillion in USDT transfers. This growth highlights the increasing importance of stablecoins in the crypto ecosystem.
Coinbase has established Abu Dhabi as its international tokenization hub, allowing the company to bring global securities to anyone with a wallet. This move is expected to expand the reach of tokenized assets and provide new opportunities for investment.
Bitdeer has announced a $4.7 billion AI data center agreement, which will provide the company with the necessary infrastructure to support its AI operations. This investment is expected to drive growth and expansion in the AI sector.
eToro has agreed to acquire TradeZero, a U.S.-focused online brokerage, in a deal valued at up to $231 million. This acquisition is part of eToro's US expansion and aims to strengthen its position in the market.
Institutional investors are increasingly interested in crypto, particularly Ethereum and Bitcoin, driven by the potential for high returns and low correlations to other assets. A bifurcated bull market is expected, with institutional capital driving assets like Bitcoin and Ethereum higher, while cryptonative capital focuses on revenue-generating apps. The speakers predict a slower, more fundamental bull market, with Bitcoin potentially reaching $100K within a handful of months.
The episode discusses the current state of the crypto market, with a focus on institutional investment and the potential for growth in various assets, including Zcash, ETH, and Hype. The speaker is bullish on the market and believes that accumulating units of favorite coins now will lead to long-term capital gains. Several protocols and platforms, such as Robin Hood chain, Base, and Panoptic, are also discussed.
The episode explores the theoretical foundations of modern SNARKs and verifiable computation, with a focus on the work of Gödel Prize winner Noam Nisan and the development of interactive proofs and the sum-check protocol.
Steve McLaughlin, founder of FT Partners, shares insights on the fintech sector's growth and his investment bank's approach to advising companies.
The episode discusses Japan's economic situation, including its large holdings of US government debt and the potential collapse of the yen carry trade, which could have significant implications for the global economy. The yen carry trade, estimated to be between $261 billion and $11.3 trillion, is a major concern, and the Bank of Japan's actions will be crucial in determining its fate. A significant unwind of the yen carry trade could lead to a global economic collapse.
Meta is transitioning to open-source AI models, including Muse Glimmer, a 30 billion parameter model, and plans to spend heavily on data center capex and hardware development, with a goal of making AI models more private, efficient, and affordable. Meta has burned $30 billion on acquiring staff and plans to spend $210 billion on data center capex through next year. The company is guiding for $145 billion of spend in 2026, with a focus on open source and hardware development.
Darius Dale, founder of 42 Macro, discusses the current macro environment and its implications for investors, highlighting the challenges of investing in a 'risk-on reflation' regime and the importance of risk management. He also shares his firm's investment strategies, including the KISS and Dr. Mo strategies. The conversation touches on the Federal Reserve's monetary policy, the bond market, and the potential for a rising 'ourstar' to impact the economy.
The episode discusses a proposal to reduce Ethereum staking rewards to zero by burning a rising share of validator rewards, and explores the implications of this change on the Ethereum ecosystem and the broader crypto market. The conversation also touches on the intersection of crypto and AI, and the potential for significant value creation in this space. The episode also covers recent economic data and its potential impact on the crypto market.
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