Ethereum co-founder Joseph Lubin said ETH-based digital asset treasuries will become a “Berkshire Hathaway-style” vehicle for the decentralized economy. Inspired by Michael Saylor’s Bitcoin playbook, Joseph Lubin says Ethereum treasury companies can provide outsized returns on yield and investment opportunities to their Bitcoin counterparts. Speaking exclusively to Cointelegraph at Token2049 in Singapore, the Ethereum co-founder unpacked his thesis for why Ether (ETH) digital asset treasuries (DATs) present superior opportunities to the Bitcoin (BTC) treasury movement popularized by Saylor’s Strategy Bitcoin play. “I’d much rather have something that potentially has more impact. It certainly is as solid as Bitcoin, and I would argue more solid because of the functionality and the organic demand for it to pay for transactions and storage,” Lubin said. Read more
BNB Chain traders made millions on new memecoins going parabolic, with one turning $3,500 into $7.9 million amid a surge in onchain trading activity. Cryptocurrency traders made millions of dollars on small-cap memecoins on the BNB Chain over the past week, signaling a renewed wave of speculative capital fueling the current market cycle. Among the most profitable investors is trader “0xd0a2,” who turned an initial investment of $3,500 into $7.9 million, generating a 2,260-fold return in three days, according to blockchain intelligence platform Lookonchain. Trader “hexiecs” turned a $360,000 investment into over $5.5 million by investing in the recently launched “4” memecoin, which went parabolic after an X post from Binance co-founder and former CEO, Changpeng Zhao. Read more
From TerraUSD’s crash to Yala’s YU, several stablecoins have failed to hold their peg. Here’s why depegging happens and the risks you can’t afford to ignore. Stablecoins are nearing a $300-billion market cap, but adoption remains limited due to risks around depegging, collateral and trust. The depegging of stablecoins such as NuBits (2018), TerraUSD (2022) and USDC (2023) has revealed vulnerabilities across both algorithmic and fiat-backed models. The collapse of TerraUSD wiped out roughly $50 billion in value and exposed the systemic fragility of algorithmic designs. Read more
Forward Industries staked its entire Solana treasury into a new validator, immediately joining the network’s top 10. Publicly traded Solana treasury company Forward Industries launched its first institutional-grade validator node on the Solana blockchain as part of its broader strategy to deepen its role within the Solana ecosystem. The company announced the launch on Tuesday, saying that the validator runs on DoubleZero’s fiber network, which powers the validator and uses Jump Crypto’s Firedancer, a new independent Solana validator client. Kyle Samani, chairman of the board of Forward Industries, said the move allows them to fortify Solana’s resiliency and help ensure that it remains “the standard for institutional adoption” in decentralized finance (DeFi). Read more