Crypto & Web3

Stack and Story published extensively on bitcoin ETF flows and broader crypto market structure. Several posts tracked bitcoin ETF performance, including one noting a streak that hides fading demand, another reporting ETFs cutting 2026 losses in half, and a follow-up stating ETFs clawed back only 47% of losses. The newsletter also covered BlackRock cutting its bitcoin ETF swap floor to $1M, Solana ETFs hitting a 5-day inflow streak, and a comparison of bitcoin ETFs bleeding while altcoin funds don't. On the security and policy side, Stack and Story covered Polygon patching bugs before disclosing them, Cosmos Labs botching a fix before a hack, the crypto lobby fighting stablecoin KYC scope, and Thailand drafting rules for local crypto ETFs. It also reported on Revolut's euro stablecoin being issued by Stripe.

Bankless covered a wide range of crypto protocol developments. On Solana, it reported the network narrowly passing a Double-Disinflation Proposal and explained why Solana wants less inflation, faster. On Ethena, it covered the protocol adding equities to its basis trade while shuttering its HIP-3 market, along with a fee switch vote tying ENA buybacks to USDe growth. Hyperliquid-related coverage included Hyperliquid gaining Pumpfun support and an energy perps push, what to expect from Kinetiq's upcoming Hyperliquid L2, and a separate post unveiling Kinetiq's Elysium L2 for Hyperliquid. Bankless also covered a new crypto dividend metric to watch, DefiLlama introducing a Universal Token Ratings Dashboard, bitcoin fielding its first quantum-safe transaction, Grayscale's Zcash ETF beginning trading on NYSE Arca, and Phantom dropping Sui in a second chain exit.

Payments Wrap Up covered stablecoin and tokenization developments, including U.S. banks joining forces to build their own blockchain, Revolut launching its euro-pegged EURR stablecoin, and Coinbase and Chainlink bringing tokenized stocks to millions of DeFi users. Connecting the Dots in FinTech reported on the UK giving the Bank of England a new role in stablecoins. Lombard Notes addressed local liquidity issues in the stablecoin sandwich without further elaboration.

Linas's Newsletter covered Revolut building its EURR stablecoin to own Europe's euro stables on-ramp, alongside separate items on Anthropic's $30T IPO pitch and Stripe's ownership of the $140B startup Legal OS. Fintech Wrap Up referenced reports on stablecoin compliance in 2026, a Revolut report titled "The Dawn of Modern Banking," and a stablecoin playbook, without elaborating further on their contents.