The rate regime that compressed correlations in June hasn't resolved. The Fed held at 3.50–3.75% with hikes now priced into year-end. What happened to multi-asset diversification under that pressure and what it means while it persists 🧵

No Clarity Act vote before recess. No Fed meeting in August. But DEX-to-CEX spot volume just hit 38%, up from 18% in June. Quiet on the surface, busy underneath. 🧵

$130M+ drained from 7,700+ Coldcard wallets. 15+ attackers. Still ongoing. How has this changed your thinking on self-custody?

CLARITY Act odds: 82% in February. 30% in July. 23% today — the Senate's deadline day. Bitwise's CIO calls it "walking dead" rather than defeated. Fallback: the March SEC-CFTC interpretation treating Bitcoin as a digital commodity. Meanwhile bitcoin:native is stuck at $64K, capped by its 21-day moving average. S&P 500 and Dow hit fresh records. Full breakdown 👇

Higher activity used to mean higher fees. Since Dencun, that tradeoff has broken. Activity +80% Fees -98% L2s consolidated from 110 to ~90. A back-to-mainnet moment is underway. Lower burn is the price Ethereum pays to expand its economy. What it gets in return 👉 July Rollup https://t.co/1AEu2D5KV1

The Weekly Wrap: A 24-year-old AI hedge fund manager with 2000%+ returns since 2024 was forced to sell everything at 40 cents on the dollar this week. Meanwhile, the Fed held rates again. 🧵

Ethereum's scaling arc is delivering. Since Dencun: Activity up ~80%. Fees down ~98%. Four upgrades explain why. 🧵

How does a protocol generating $36M earn a higher revenue multiple than one making $143.7M? The multiples columns in the new Revenue Dashboard raises that exact question. Find the full context in the July Industry Rollup. Link in the replies. https://t.co/n9eTDE69Ib

82 of the top 100 crypto assets closed June lower. Memecoins fell 40.9%. Measured in holder revenue, one group of protocols grew through the selloff. 🧵

"Money finds a way." Adam Back on why nobody walks away from an asset with this much incentive to protect. While critics only see the next play, Bitcoin's developers are several moves ahead. ♟️ https://t.co/fNoPDkNteL https://t.co/YejrwQN9Hy