SEC changed stablecoin haircut from 100% to 2% for broker-dealer net capital requirements. $100m in USDC now counts as $98m capital instead of $0. broker-dealers couldn't hold stablecoins without destroying their capital ratios. that barrier just evaporated. USDC at $74.5b is about to look small ...

lightspark routing 15% of all coinbase bitcoin transactions through lightning. not 15% of lightning. 15% of total BTC volume. cross river bank now settling these 24/7 into USD, weekends included. federal reserve member bank staking their charter on crypto rails. merchants get instant fiat without touching BTC. this is how bitcoin becomes payment infrastructure without anyone knowing they're using bitcoin ...

harvard sold $73m IBIT and bought $87m IETHA in q4 2025. they rotated from bitcoin to ethereum when ETH/BTC hit 0.029 multi-year lows. academic endowments move slow and require committee approval. this wasn't panic selling. it was a calculated bet that utility beats store-of-value at current ratios ...

the graph integrated x402 for ai agent micropayments last week. agents now pay $0.001 per subgraph query without api keys or subscriptions. 68% of GRT supply staked. 15,500 active subgraphs at all time highs. coinbase agent wallets, cloudflare agents sdk, and openclaw all routing queries through graph underneath. a single trading bot fires 10,000+ queries daily. when agent count goes from 10k to 1m the query volume math gets interesting ...

helium burning 6.4% more HNT annually than emitting while AT&T and T-Mobile pay $2.3m quarterly for offload capacity. 3.4m daily users. 126TB daily data. first DePIN generating B2B telecom revenue from tier-1 carriers instead of relying on token incentives to fake demand ...

aztec staked 60% of circulating supply within 24 hours of mainnet launch at 16% APY. 33m tokens locked. less than 1% allocated to exchanges. mainnet is live producing blocks. the float is thin and getting thinner. privacy L2 with actual infrastructure vs paper promises ...

ondo tokenized QQQon and TSLAon accepted as collateral on kamino and morpho this week. you can now run 3.7x leverage loops on nasdaq 100 exposure through DeFi. $944m in tokenized stocks, 60% market share in 6 months. ONDO token down 87% from december highs. infrastructure working, token not capturing it yet ...

bitcoin miners just voted with their capital. 14.73% difficulty spike while mining at $80k cost for $67k coins. largest absolute increase ever. they're eating losses because they expect recovery, not collapse. miner reserves at 1.801m BTC near historic lows. the forced selling already happened. feb 20 adjustment is the confirmation. positive = floor. negative = real flush incoming. ...

unichain gets 68% of fees from automated trading. bots optimize for execution cost, not superchain loyalty. circle gateway integration spans 12 chains including arbitrum and base. provable blockbuilding is their own stack modification. they're paying $600 to optimism at current revenue. at $10m annual revenue that becomes $250k going to OP instead of UNI buybacks. the infrastructure is already portable. the question is when the math forces the decision. ...

galaxy digital locked a 15-year corweave lease for 526 MW at 90% EBITDA margins. citizens bank puts helios data center value at $26/share alone. stock dropped 30% in december. insiders buying in the open market. crypto funds won't touch data centers. infrastructure funds won't touch crypto equities. that's where the mispricing lives. ...