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Stablecoin market capitalization surpasses $250 billion amid accelerating regulatory momentum theblock.co/post/356545/stab…

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Consensys aims to boost MetaMask UX, speed up Bitcoin support with Web3Auth acquisition theblock.co/post/356569/cons…

Hackers drain over $3 million in crypto from Nervos Network’s Force cross-chain bridge, say security analysts theblock.co/post/356535/hack…

Some thoughts on this from someone working on strategy/GTM at a new L1 (@ritualfnd): I mostly agree w/ Jason's take, but it doesn't take into importance a pretty big nuance: Actively Seeding vs. "Build and they'll come" The latter doesn't work, at least not if that's your initial expectation. One of the few ecosystems that executed this well recently was HyperEVM- but not even exactly that. HyperEVM works because of Hyper Core; in comparison we're now seeing a vast grave of L1s/L2s that operated on this paradigm from the onsent/thought that they could offset this but giving out grants and pushing pure mindshare. That being said, building *anything* is hard. Building infra is hard. Building apps are hard. Especially in crypto, because building isn't just about deploying code- there's a ton of greasework/execution that goes into GTM, operations, legal, etc that generally goes underappreciated. When you're building an L1 (if what you're building is truly novel architecture, and not forkware), its a gargantuan technical and GTM task alike. No one knows what the killer application is for sure going to be, so your job is to build the product + work with builders to enable has many high-quality applications to maximize that shot on goal for both the L1 the builders that trust you. What this means for infra teams you either: (1) hire more competent people to work on building everything in-house, including the top apps, which can work. But: (a) good talent is hard to find (b) in-housing good talent, means raising more capital from investors, which folks don't really like seeing these days. (I know Hyperliquid did it w/ 10 people, but most founders were not in the position Jeff was when he started building it. Still they are insnae)) (2) Run the grant + "build and they'll come" playbook. Doesn't work IMO (3) What I think is the better approach, which is to actively seed your ecosystem. What I mean by this is having an aggressive approach to company building on your infrastructure by building prototypes/some light apps on your infrastructure yourself that you can work with other builders/partners to take all the way. Builders want to see that you're putting in work and your time where your mouth is, and ultimately no one's going to understand what's truly possible on your own infra, at the beginning, better than the people who built it. This way you can (a) showcase compelling net-new applications, (b) showcase what can be built on your infra and (c) have some influence over the direction you want to see the eco involve beside giving out money. Now (3) still requires in-house talent capable of building applications, but it becomes more of an active exercise around helping build real protocols from the ground up without large resource spend/detracting from improving core infra. Functionally, it's almost like platforming/incubating these companies. Is this approach possible the harder, slower path? Yes. But I also think it's a more longer-term oriented approach for infrastructure projects that are still working on their core infra/early. It's certainly the approach that we're taking @ritualnet, with the @ritualfnd running programs like Ritual Shrine where we build applications that we'd want to see on Ritual + we think can be killer applications across crypto and AI. But it's not just us- @solana had a lot of active building going on in conjunction w/ FTX + Jump and a few other folks in the early days. Several new projects popular on CT like @PlasmaFDN, @megaeth, @monad_xyz, etc have taken active approaches to creating a core set of protocols native to their ecosystems on top of existing protocols deploying. I expect this to become a dominant strategy (+ add to the difficulty of actually standing out as new infra on top of technical work) In some world, I'd love if we built many of the Ritual Shrine prototypes fully as themselves. But I recognize that they deserve dedicated teams that can kill it both on product and execution of GTM. If we can work to build them alongside those teams while also giving strong economic upside to external builders, that's still a win. This let's us "own" it in a metaphorical sense, but also introduce new perspective and new talent. tl;dr: yes, if you can own the top first party app on your new infra, that's great. But if you are resource constrained, then make a strong, aggressive effort to actually seed your ecosystem w/ prototypes/build alongside them vs getting lazy with it.

Trump's top advisor Kevin Hassett discloses Coinbase holdings worth at least $1 million: Bloomberg theblock.co/post/356845/kevi…

Nasdaq-listed Classover plans to raise up to $500 million in new deal to build SOL treasury theblock.co/post/356681/nasd…

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🎙️ AGENTIC FUND OF FUNDS AMA 📅 Friday, Nov 14 · 2 PM GMT This Friday, we’ll be gathering with our valued partners to discuss the future of Fund of Funds. Join us to learn about the latest changes and why they matter.

Investors keep asking me about stablecoin, and how that can reduce FX fees; if you send money from USD to EUR, and the receiving end still requires to receive EUR in their bank, I can’t see any ways stablecoin can reduce fees - off ramping from stablecoin to recipient currency are far more expensive than the FX interbank market.

Countdown is on for Arbus Terminal ⏳ 05.06.2025 Exclusive access for $ARBUS stakers. Save. The. Date.

Given recent events, I think now might be a good time for someone to launch a dark pool perp DEX. I have always been puzzled with the fact that everyone can see your orders in real-time on a DEX. The problem is worse on a perp DEX where there are liquidations. Even with a CEX order book, where orders aren't linked to a specific individual, if you're looking to purchase $1 billion worth of a coin, you generally wouldn't want others to notice your order until it's completed. Otherwise, people might try to buy before you, effectively front-running you. In the case of a DEX, this can lead to MEV attacks. This results in increased slippage, worse prices, and higher costs for you. For this reason, the large traders in TradFi use dark pools, which are often 10 times bigger than the “lit pools" (ie, normal orderbooks). For perps (or futures), it is even more important to not let others know/see your orders. If others can see your liquidation point, they could try to push the market to liquidate you. Even if you got a billion dollars, others can gang up on you. This was possibly what we have seen recently. The counter argument I have seen is that being more transparent allows market makers to absorb your large orders. This is possibly true. I won’t get into an argument on which is right or wrong. Different traders may prefer different types of markets. Now might be a good opportunity for someone to launch an on-chain dark pool style DEX + perps, either by not showing the orderbook, or even better not showing deposits into smart contracts at all, or until much later. This should be doable with ZK or similar encryptions. Just a Sunday idea. If you are building such a project, feel free to reach me on reachme.io/@cz_binance. No guarantees I will invest, or even reply. 🙏

Charles Hoskinson proposes $100 million ADA investment to boost Cardano DeFi ecosystem theblock.co/post/358149/char…

As Circle surges post-IPO, ProShares and Bitwise file for CRCL-based ETFs theblock.co/post/357454/as-c…