RaaS #462: Ethereum's Plan To Solve The Trilemma!

Ethena’s Liquid Leverage Via Aave, Zora’s Bullcase, and Moar!

Cameron Redman, tied to the 2022 X panel hack that compromised Beeple, Zeneca, and others, was convicted and must pay restitution. He laundered funds via Tornado and linked KYC accounts. The case confirms ties to $37 million SIM swap in 2020 and outlines his phishing and social engineering tactics.

DoubleZero launches a 3M SOL stake pool to grow validator adoption via its high-speed fiber testnet, now running 142 nodes, and introduces the dzSOL staking token. Mainnet-beta rolls out this fall, with plans to expand validator support into underrepresented regions for greater decentralization.

Hyperliquid is printing $600–900M/year on 0.03% fees, buying back 97% into HYPE. With HIP-3 market listings, CoreWriter smart contract access, and 200+ builder integrations earning ~$23M, it’s becoming DeFi’s backend liquidity engine.

Hyperliquid will issue automated refunds after a 30-minute API outage disrupted trades. The issue stemmed from a traffic surge, not a hack. Core systems stayed online, but delayed order execution confused users.

John Wang compiled their favorite crypto writers, cobie, thiccyth0t, CryptoHayes, 0xENAS, and izebel_eth, and prompted ChatGPT to imitate their writing styles on “How To Make Generational Wealth.” Cobie feels like it was written by real Cobie.

JPMorgan teams up with Coinbase to offer 80M+ users credit card funding, bank linking, and USDC rewards. Launch begins Fall 2025. Coinbase Q2 rev expected at $1.5B, boosted by trading, Deribit, and stablecoins—though high valuation may warrant caution.

Pendle launches on HyperEVM with yield pools for Hyperbeat and Kinetiq, offering fixed yield and bonus Hearts rewards. Initial pools include USDT, Ultra Hype, beHYPE, and kHype. Pendle plans deeper liquidity, expanded markets, and native Pencosystem support in the coming weeks.

Narrative is everything.

Will you choose Wonder High?

Ethena’s Liquid Leverage via Aave lets users bypass the 7-day sUSDe exit delay by looping USDe and sUSDe in e-mode. Borrow USDC/USDT, reinvest into sUSDe, and earn boosted yields (~49% APR at 5x leverage) with promo rewards stacking on top for a limited time.

Zora isn’t FriendTech, it’s SocialFi done right. Backed by Coinbase, built for content, and anchored by creator-aligned tokenomics. It’s the first real step in crypto’s reverse adoption arc. Bet on Zora, Jacob, or early creators like zxbt. Attention is the new money.

Top Gainers: TKX, ANI, MBG, UCNT, URANUS.

Ethereum turned 10 and is entering its “gigagas” era, aiming for 10,000+ TPS by replacing validator reexecution with zkEVM proof verification. This scaling path preserves decentralization and enables a new wave of native rollups, with real-time proving and low hardware requirements making it viable.

The White House’s working group on digital assets unveiled a regulatory roadmap to usher in a “golden age of crypto,” backing the Clarity Act and urging swift implementation of the GENIUS stablecoin law, but notably omits any mention of Trump’s proposed Bitcoin or crypto reserve.

Blockworks Research launched a free dashboard tracking treasury firms with BTC, ETH, SOL, XRP, HYPE, and multi-asset holdings. ETH treasuries now hold 1% of supply, with trading volume nearing 50% share. mNAV averages ~1.5. ETH holdings and price have climbed since early July.

That’s all for today!