RaaS #486: Crypto.com Enters Prediction Markets!

StarkNet Pauses Block Production, Monad Cards Wave 2, and Moar!

Hyperliquid comes to India.

Asia’s first stablecoin summit lands at KBW2025. ASC2025 brings leaders from Solana, Ethena, FRAX, Ant Group & more to discuss onchain finance, mass adoption & institutional integration.

Prediction Markets supercycle! Underdog and Crypto.com launch the first legal, CFTC-approved sports prediction market inside a major gaming app. Users can now trade NFL, NBA, and MLB event outcomes in real-time.

Justin Sun’s life reads like fan fiction for a Bond villain: banned by China, knighted by Grenada, sued by the SEC, crowned by Liberland, Buffett-lunch buyer, TRUMP’s #1 holder, TRX giga-pumper, space tourist, largest ETH staker, and somehow, still just getting started.

Bridgeless collateralization lets users lock assets on Ethereum L1 and use them on L2s like Lighter via ZK-proofs, no bridging, no wrappers. Collateral stays yield-bearing, liquidations enforced on L1. Succinct powers the proof layer. Capital stays safe, execution moves fast.

Trump’s WLFI token launched with $6B in family holdings, $30B+ FDV, and DeFi plans still pending. Trading opened at $0.35, dropped to $0.21, and rebounded to $0.25. Protocol’s not live, vesting is TBD, but clout and attention make this a uniquely American memefi saga.

Bunni, a Uniswap V4 hook using a custom Liquidity Distribution Function, was exploited after a precision flaw allowed an attacker to manipulate pool rebalancing. By crafting trades that broke LDF math, they repeatedly withdrew more than their share. FairFlow confirms it’s unaffected.

Venus Protocol paused lending markets after a user lost $13.5M in a phishing attack. The user unknowingly approved a malicious address, enabling the attacker to siphon funds. Venus says its contracts are safe and unaffected, though XVS briefly dropped 9% on the news.

That explains why there are so many POCs in marketing.

Kite AI raises $18M Series A led by PayPal Ventures and General Catalyst to build infra for the agentic internet, covering identity, governance, and stablecoin rails for AI agents. Backers include LayerZero, Avalanche, Animoca, and angels from OpenAI, Circle, AWS, and more.

Fluid DEX is quietly replacing Curve as Ethereum’s stablecoin hub. Once dominant with a 40%+ share via 3pool, Curve now lags behind Fluid, which led stablecoin-swap volume for 2 straight months, with GHO, USDe, and wstUSR flowing in.

SharpLink just added 39,008 ETH at $4,531 avg price, pushing total holdings to 837,230 ETH ($3.6B). Since launching in June, they’ve earned 2,318 ETH in staking rewards. With ETH concentration up 97% and $71.6M cash left to deploy, SharpLink is doubling down on the asset.

Coinbase packed August with major moves: launched Base DEX trading, partnered with the U.S. gov to put GDP data onchain, shipped Embedded Wallets + Coinbase Cards, closed Deribit deal, hit $70B USDC, backed Solana-native Squads, and bootstrapped more stablecoin liquidity. Not too bad!

Wave 2 of Monad Cards is live: 4,000+ new nominees are eligible to claim. The window closes in 8 days. FOMO at its finest.

BTC’s liquidation heatmap shows heavy buildup during sideways chop. The longer it coils here, the sharper the breakout. The key short-term levels to watch: $107K and $114K.

The Ether Machine raised another 150,000 ETH ($654M) in August from Jeffrey Berns, pushing total holdings to ~495K ETH ($2.14B). Now the third-largest ETH treasury, it’s prepping for a Nasdaq listing and launching a $500M round led by Citibank.

Top Gainers: TA, M, BGSC, AZZ, EWT.

StarkNet went down for over an hour, dropping all transactions between blocks 1960612–1960635. Although block production resumed briefly, the network is facing another outage. Engineers are investigating the root cause; users must resubmit affected txs.

BNB and SOL treasury companies are diverging by region: Asia backs BNB through ecosystem-led DATs, while Wall Street builds SOL positions via structured deals. Behind bullish headlines lie OTC flows, pre-locked tokens, and asymmetric info; real buying remains opaque.

Holešky testnet is shutting down post-Fusaka, ending its run as Ethereum’s large-scale validator testbed. Validators should migrate to Hoodi, which fixes lifecycle issues. DApp devs should use Sepolia. Holešky’s legacy lives on in Hoodi’s design and Ethereum testnet architecture.

WLFI tumbled 34% post-launch, but World Liberty Financial proposed a buyback-and-burn using protocol-owned liquidity fees to reward long-term holders. $2.5B in volume, Trump ties, and strong presale profits add fuel. Vote pending, sentiment mostly supportive.

That’s all for today, see you tomorrow!