The best crypto writing from the last 24 hours.
AI agents read 50+ crypto blogs, newsletters, news desks and forums around the clock and keep only what’s worth your time. The top five land in your inbox at 6:30 a.m. Central.
- 1
Hyperliquid leapfrogs Bybit, Kraken and OKX in open interest as Q3 positions grow 80%
Hyperliquid's share of open interest reached 11.7% across itself and eight major centralized rivals, passing Bybit, Kraken and OKX.
- 2
Ethereum treasury firm BTCS sold ether at a loss to keep $64 million Aave loan healthy
BTCS sold ether at a loss to keep a $64 million Aave loan healthy; the loan could be liquidated if ether falls near $1,700.
- 3
Securitize and Ethena’s $100 million BlackRock BUIDL liquidity facility goes live
Securitize and Ethena launch a $100M facility letting BUIDL holders swap into stablecoins 24/7.
- 4
Are Alt-L1s over? Security, costs drive smaller chains to Ethereum
Zilliqa, Gnosis and Ronin moving into the Ethereum ecosystem as security and liquidity favor consolidation.
- 5
EU DeFi proposals could push users to riskier platforms, says Coinbase exec
Coinbase's EU policy chief warns that suitability tests extended beyond lending could limit access to DeFi and fragment liquidity.
- 6
Stablecoin supply falls $14.2B in biggest 30-day drop since June 2022
Major stablecoin market cap fell $14.2B in 30 days, the biggest drop since June 2022, leaving crypto markets with less liquidity to rally.
- 7
Aave Freezes tBTC Reserve After Threshold Pauses Minting and Redemptions
Aave froze its tBTC reserve after a threshold pause halted minting and redemptions, while repayments and liquidations continue on about $136.5M in deposits.
Also covered by Unchained - 8
OKXICE moves ahead with tokenized stocks as blue chips push back
OKX's tokenized stock debut on Nov. 23 tests a new SEC exemption, while Nasdaq warns cross-platform trading could fragment liquidity.
- 9
Moonwell Cuts Collateral Limits, Drops VELO and wrsETH
Moonwell's MIP-X75 cuts collateral backing for existing loans on Base and Optimism, so borrowers near their limits face liquidation unless they repay or add eligible collateral.
- 10
Hyperliquid's First L2 Arrives
Kinetiq's Elysium becomes Hyperliquid's first L2, offering throughput HyperEVM lacks; day-one demand is real but lasting activity is untested.
- 11
Binance hack bites India's largest crypto exchange as it curbs futures trading
CoinDCX restricts new futures positions after the Binance incident disrupts a liquidity provider; customer funds are unaffected.
- 12
Kinetiq Launches Elysium Mainnet for Hyperliquid
Kinetiq's Elysium mainnet is live for Hyperliquid trading, but native HyperCore data reads and fast order submission await an upgrade.
- 13
Bitcoin Price Drops Below $74,000 as Nvidia Probe and Regulation Fears Spark $1 Billion in Liquidations
Bitcoin fell below $74,000 and about $1B in liquidations hit after a Nvidia probe and regulation fears.
- 14
Crypto Liquidations Top $1 Billion as Bitcoin Tests 11-Week Low
Over $1B in crypto liquidations as bitcoin nears 11-week lows after AI stocks plunged.
Also covered by The Block - 15
Hyperliquid Whale’s 56,667-ETH Long Fully Liquidated
A tracked Hyperliquid whale's 56,667-ETH long was fully liquidated, with the two accounts showing about $44.8 million in lifetime losses.
- 16
Tornado Cash-Funded Wallet Builds $26 Million Bitcoin-Ether Trade
A Tornado Cash-linked wallet converted 3,100 ETH to about 6.92M USDC and opened a $26M Bitcoin long against an Ether short on Hyperliquid, a notable onchain trading trail.
- 17
Keplr Says Recovery Effort May Explain Empty Wallet Balances
Keplr says users who signed up via Google or Apple should stop deposits and move liquid assets, as a recovery effort may explain empty balances.
- 18
Hyperliquid Tests Permissioned Markets for Payward's US Perps Plan
Hyperliquid tests optional onchain allowlists for permissioned markets that would support Payward's proposed US perps, which still need approval.
- 19
Hyperliquid Strategies files to become CFTC-registered FCM, posts $13.3 million in quaterly revenue
Hyperliquid Strategies filed to become a CFTC-registered FCM for U.S. HIP-3 perp markets, a meaningful regulatory step.
- 20
Bitcoin erases post-election gains as Wall Street selloff triggers over $1 billion in crypto liquidations
Bitcoin fell 6% to $75,700 in a Nasdaq-driven selloff that triggered $1.03 billion in crypto liquidations.
- 21
EEZ Launches Rollup X With Swaps Filled by Mainnet Liquidity
EEZ's Rollup X devnet shows swaps filled by mainnet liquidity, but batches are attested by a designated signer rather than proven.
- 22
Bitcoin Slides Under $76K as AI Stocks Crater After Midterms
Bitcoin fell below $76K as AI stocks sold off after chipmaker earnings and the Democratic midterm sweep, with over $1B in crypto leverage liquidated.
- 23
Bitcoin Price Crashes Over 5% to $75,000 as Tech Rout Wipes Out Leveraged Longs
Bitcoin fell to about $75,000 as a chip and AI stock selloff liquidated leveraged longs.
- 24
Bitcoin bounces from 7-week low under $76K as Democrats sweep Congress
Bitcoin fell to a seven-week low near $75,618 as roughly $300 million in long positions were liquidated.
- 25
Liquid’s bitcoin IOUs are fully backed again after a $320 million exploit
Liquid's bitcoin peg is fully backed again after a $320M exploit, but the federation has not disclosed who paid to fill the gap.
Also covered by Unchained - 26
Stock Market that Never Sleeps: Inside the Premiums and Liquidity Gaps of Tokenized Equities
Coin Metrics research on tokenized equity premiums and liquidity gaps versus the underlying shares.
- 27
Liquid Restores Full Bitcoin Backing After Elements Exploit
Liquid restores full Bitcoin backing after the Elements exploit, a condition for reopening federation withdrawals.
Also covered by Decrypt - 28
Liquid Reserve Gap Narrows to 600 BTC After Test Transfer
The Liquid federation's reserve gap has narrowed to 600 BTC after a test transfer, and direct peg-outs stay paused until full backing is restored.
- 29
What Is Hyperliquid? A Guide to HyperCore, HyperEVM and Builder Markets
Breaks down Hyperliquid's HyperCore, HyperEVM and builder markets, including differing collateral and withdrawal dependencies.
- 30
Maple’s syrupUSDC and syrupUSDT Explained: Returns, Risks and Exits
Explains syrupUSDC and syrupUSDT returns and exit routes, noting withdrawals depend on liquidity with no guaranteed deadline.
- 31
Attacker Drains About $437,000 in Collateral From Premia Vaults
Premia vaults lost about $437,000 when an attacker moved collateral into option pools and withdrew it as liquidity, per Blockaid's analysis.
- 32
Jupiter Lend Says Liquidity Crunch Is Delaying Withdrawals
Jupiter Lend's API showed only 3.35 USDC withdrawable against 418.5M USDC in Earn claims, delaying withdrawals.
Also covered by Unchained - 33
Morpho Borrow Rates Hit Roughly 40% as PT Market Liquidity Dries Up
Morpho borrow rates spiked near 40% as liquidity vanished in a reUSD-backed PT market, easing to 9-13% by Oct. 31.
- 34
HYPE surges 15% as NYSE parent ICE moves to bring Hyperliquid perps to US
NYSE parent ICE will partner with and invest in trade.xyz to bring regulated Hyperliquid-based perpetuals to the US, and HYPE rallied 15% on the news.
- 35
Origin Restores OGN Liquidity After Pulling Funds During Binance Incident
Origin says an attacker sold OGN at a 79% average discount, and onchain data shows Curve pool liquidity returning after a 46.74 million OGN withdrawal.
- 36
Tokenized SanDisk bets saw more liquidations than XRP as Asia’s chip rout wipes out $800 million
About $800 million in leveraged positions were liquidated in 24 hours during an Asian chip-stock selloff, with tokenized SanDisk bets seeing more liquidations than XRP.
- 37
Stanley Druckenmiller's first X post backs Hyperliquid venture after $23 million indirect investment
Stanley Druckenmiller disclosed a $23 million indirect stake in Trade[XYZ] as it partners with NYSE parent ICE.
- 38
Uphold Launches RLUSD Earn With Up to 7% Variable APY
Uphold's RLUSD Earn product routes deposits into DeFi lending at up to 7% variable APY, with withdrawals tied to market liquidity.
- 39
Bank of England opens consultation on tokenized collateral for clearing
The Bank of England proposes guidance requiring central counterparties to prove tokenized collateral meets liquidity and risk tests.
- 40
Bitcoin-backed mortgages are coming to Canada, but borrowers are still unaware of the cost
Canadian Bitcoin-backed mortgages from APX carry liquidation risk that borrowers may not understand. Consumer-risk angle is worth a glance.
- 41
Aviva’s £50m tokenized fund: What changes for investors
Aviva Investors adds a £50m tokenized share class to its sterling liquidity fund on the XRP Ledger.
- 42
Your liquidity pool can collect fees while quietly selling the asset you wanted to hold
Explains how concentrated liquidity on Uniswap shifts token exposure, so LPs can end up selling the asset they wanted to hold.
Also covered by The Defiant - 43
Avail launches ShieldTX privacy tool targeting copy-trading bots on Hyperliquid
Avail launched ShieldTX, which gives each Hyperliquid perp position its own wallet to hide it from copy-trading bots.
- 44
Does private tokenization fragment RWA liquidity?
Asks whether private tokenized-asset networks fragment RWA liquidity away from DeFi, a useful structural question.
Also covered by r/defi - 45
I replayed a BTC-backed loan on every day since 2014. Even at 20% LTV, some got liquidated
A replay of BTC-backed loans on hourly prices since 2014 shows that even 20% LTV loans would have been liquidated at times.
- 46
Robinhood Opens Earn to All Eligible Users for Onchain USDG Lending
Robinhood opens USDG lending to all eligible users via a Morpho vault on Robinhood Chain, with withdrawals tied to vault liquidity.
- 47
Aave Raises USDT Borrowing Costs at High Utilization
Aave raises USDT borrowing rates at 92% utilization on Ethereum, nudging borrowers to leave liquidity for withdrawals.
- 48
whale on hyperliquid got liquidated and trackers had posted his levels before the drop
Anecdote on a Hyperliquid whale liquidation where tracker posts flagged the levels beforehand, raising questions about visible liquidation levels on perp DEXs.
- 49
Hyperliquid’s Yan and CME’s Duffy Split Over Who Must Bear US Compliance
Hyperliquid and CME executives debate whether deployers or the blockchain should carry US compliance duties.
- 50
5.57 The Price Impact of Nothing: Rejected Orders Predict Returns
Research finds Hyperliquid post-only order rejections carry a short-term signal for 10-second BTC perp mid moves.
- 51
Uniswap’s aggregator hooks go live on Ethereum, Base and Robinhood Chain
Uniswap v4 aggregator hooks are live on Ethereum, Base and Robinhood Chain, routing trades through external liquidity.
- 52
Morpho Opens Robinhood Stock Tokens to Stablecoin Borrowing
Morpho now lets users borrow stablecoins against tokenized Robinhood stock collateral, with liquidation thresholds listed per asset.
- 53
Dolomite Adds $100 Million in Concrete’s Bitcoin-Backed Collateral
Dolomite adds Concrete's Bitcoin-backed collateral, with liquidations settled offchain at BitGo rather than onchain.
- 54
OKX Combines Euro and EURC Liquidity in One Spot Order Book
OKX now lets eligible EEA users convert euros to EURC at 1:1 and settle in either asset from a single spot order book, with fees tied to tier.
- 55
Swept and Refilled
Glassnode shows Bitcoin swept to about $80K near US ETF and treasury cost basis, with bids refilling quickly and liquidation clusters mapped between $85K and $87.5K.
- 56
Ledger Adds Morpho Loans Against Wrapped Bitcoin
Ledger users can now borrow USDC or USDT on Ethereum against wrapped Bitcoin via Morpho, with collateral in smart contracts subject to liquidation.
- 57
Lido Lend Exit Plan Would Tap Borrower Collateral for Withdrawals
Lido Lend's exit plan would use borrower collateral to fund withdrawals, starting with positions nearest liquidation; key details remain unspecified.
- 58
Ripple brings Wall Street into 24/7 stock bets, but HSBC warns markets are still thin
Ripple Prime lets institutions trade 24/7 stock exposure with RLUSD collateral, but HSBC warns liquidity for large positions may be thin. Useful market-structure context, though mostly a product story.
- 59
Liquid Network Announces Final Stages of Recovery Following Massive Hack
Liquid Network has resumed operations a month after hackers took 4,000 BTC; the snippet gives few details beyond the recovery status.
- 60
Bitwise, Hyperliquid seek SEC rule changes for token trading, airdrops
Bitwise and Hyperliquid urge the SEC to clarify token classification and secondary-market trading rules.
- 61
ZachXBT Flags $20M XMR Laundering Ring on Hyperliquid
ZachXBT traces over $20M from hacks and ransomware through FreedomXMR, a Monero swap service on Hyperliquid where 87% of inflows are illicit.
- 62
Liquid Says Bitcoin Swaps Are Restored While Peg-Outs Stay Frozen
Liquid restored Bitcoin swaps but peg-outs stay frozen; reserves cover about 85.8% of L-BTC, a roughly 603 BTC shortfall.
- 63
Tx launches USTX stablecoin to pull RWA liquidity onto its chain
Tx launched the USTX stablecoin, minted from USDC on eight networks, to bring real-world asset liquidity onto its chain.
- 64
If a private fund is tokenized, who buys when you need out?
Sharp point that tokenized private-fund tokens do not create liquidity when transfers still require issuer-qualified buyers.
- 65
Lighter Launches BTC and ETH Binary Options on Core
Lighter launched fully funded BTC and ETH binary options on Core, with no leverage or liquidations.
- 66
JPMorgan Picks Ethereum for JPM Coin, Citing the Network’s Liquidity and Client Use
JPMorgan chose Ethereum as the chain for its JPM Coin deposit token, aimed at large crypto firms and institutions, after first debuting it on Base.
- 67
Echo Protocol Winds Down, Halting New Deposits and Borrowing
Echo Protocol is winding down, halting new deposits and borrowing, with conflicting November deadlines before collateral liquidation.
- 68
THORChain Targets Rujira Restart With v3.21 Exploit Fix
THORChain plans a v3.21 upgrade around Oct. 23 to fix an exploit and restart Rujira, with a proposed 24-hour liquidation grace period for borrowers.
- 69
Crypto vault deposits top $10 billion as lending risks draw regulatory scrutiny
Curator-managed crypto vaults have passed $10 billion in deposits, drawing regulatory scrutiny over collateral, liquidity and smart-contract risk.
- 70
Chip-stock bets lost $52 million in 10 minutes with Wall Street shut
A 10-minute liquidation cascade hit round-the-clock chip-stock contracts while US markets were closed, wiping out $52 million.
- 71
Boros launched native spread markets for BTC and ETH funding rates to earn fixed or floating funding APR
Boros launched fixed-rate spread markets on BTC and ETH funding gaps between Hyperliquid and Gate, a three-leg structure.
- 72
Papertrade Trader Losses Reach $32.4 Million Two Days After Launch
Papertrade, a loss-funded trading venue, booked $32.4M in trader losses within two days, with revenue data compared to Pump.fun and Hyperliquid.
Also covered by Bankless - 73
Ripple Prime adds RWA swaps referencing perpetual futures listed on Hyperliquid
Ripple Prime added 24/7 RWA perpetual swaps referencing assets listed on Hyperliquid.
Also covered by Unchained - 74
bOSMO Bug Leaves Little Backing, Prompts Holder Compensation Plan
A bOSMO contract bug allows cheap minting and puts liquidity pools at risk, and holders will get a compensation plan, excluding post-snapshot buyers.
- 75
Aave V4’s Arc Markets Connect Dollar-Euro Loans to Shared Liquidity
Aave V4's Arc Markets launched Sept. 16 with four reserve assets, adding a Forex market where borrowers can pledge EURC for dollar-euro loans on shared liquidity.
- 76
Ripple Prime Rolls Out Traditional-Asset Perps Linked to Trade.xyz, Bloomberg Reports
Ripple Prime reportedly adds traditional-asset perpetuals linked to Trade.xyz, building on its Hyperliquid access.
- 77
Multiliquid, a settlement platform for tokenized assets, raises $8 million
Multiliquid, a settlement platform for tokenized assets, raised $8 million across pre-seed and seed rounds led in seed by Polychain.
- 78
Fireblocks Opens Stablecoin Marketplace for Payments Firms, Says It Takes No Spread
Fireblocks launched a Liquidity Market where payments firms collect quotes from several stablecoin trading desks and settle with the one they choose, with no spread taken by Fireblocks.
- 79
PancakeSwap Floats Handing Liquidity Providers 88% of Swap Fees While Cutting CAKE Issuance
PancakeSwap forum proposal would give LPs 88% of swap fees and cut CAKE emissions about 69%.
- 80
Lido Adds Direct ETH Staking From Four Layer 2s to Its Interface
Lido's interface now offers direct ETH staking from four Layer 2 networks, with users receiving wstETH from local liquidity pools.
- 81
Hyperliquid founder wants U.S. oversight of trading platforms, not his blockchain
Hyperliquid founder Jeff Yan argues U.S. oversight should target trading firms using the blockchain, not the network itself.
- 82
Bitget, Liquid exploits push Q3 crypto hacks toward $1.2B
Hacken data attributes about 77% of Q3 crypto hack losses, near $1.2B, to compromised suppliers, developer tools and infrastructure outside security audits.
- 83
Bitget is letting users transfer existing US stocks and ETFs directly into crypto rTokens without selling first... Will This Bring more Liquidity to crypto?
Bitget lets users move US stocks and ETFs into crypto rTokens via brokerage transfer, taking about 10 business days.
- 84
Strategy’s USD Cash down 60% in seven weeks
Strategy's USD cash reserve fell 60% from $1.61B to $640.5M in seven weeks, a notable treasury liquidity signal.
- 85
Babylon Advances Native Bitcoin Collateral Plan for Aave V4
Babylon proposes native Bitcoin collateral for Aave V4 that settles permissionless liquidations using WBTC. Risk settings and votes are pending.
- 86
Ekubo Adds Shadow Accounts for Liquidity Providers
Ekubo added shadow accounts that let liquidity providers use existing pools, though positions and transactions stay visible onchain.
- 87
EQX Plans 11 Tokenized Stock and ETF Markets on Hyperliquid
EQX plans 11 tokenized stock and ETF markets on Hyperliquid's HyperCore, quoted against USDC, with US persons excluded.
- 88
S&P 500 options are the hottest bet on this Hyperliquid exchange
Hypercall, built on Hyperliquid, reports most of its $640M volume since June came from S&P 500 options, a notable product-market signal.
- 89
Base Introduces Earn & Borrow With Aave and Morpho
Base now lets apps embed stablecoin lending and crypto-backed loans powered by Aave and Morpho, with borrowers still exposed to protocol liquidation rules.
- 90
cirBTC Borrowing on Morpho Tops $190 Million as Arc Liquidity Tightens
Borrowing against cirBTC on Morpho has reached over $190M, with 97.4% of supplied USDC borrowed in the main market, signaling tight liquidity.
- 91
Binance VIP head says hedge funds are actively exploring arbitrage opportunities on crypto venues
A Binance VIP executive says hedge funds are exploring arbitrage on crypto venues, citing deeper liquidity and 24/7 trading. Mostly an executive comment, not hard data.
- 92
Tokenized Stocks Show Real Demand But Remain Volatile and Illiquid, IMF Finds
An IMF analysis finds over half of tokenized stock trading happens outside U.S. market hours. The roughly $2.3B market shows real demand but remains more volatile and less liquid than traditional equities.
Also covered by The Defiant - 93
USDGO Adds Solana Trading Liquidity Through Jupiter Lend and Fluid
Anchorage-issued USDGO stablecoin, with about $1.29B in circulation, now has Solana trading liquidity via Jupiter Lend and Fluid.
- 94
Trader nets $1.28 million on new 1,000x exchange Papertrade by moving Hyperliquid’s ETH prices
A trader reportedly made $1.28M on the new Papertrade exchange by moving Hyperliquid's ETH price, then lost $450K when 30 shorts were liquidated. A useful look at manipulation and risk on a new venue.
- 95
Liquid Bitcoin Redemptions Remain Frozen With 85.8% Reserve Coverage
Liquid's bitcoin redemptions remain frozen at 85.8% reserve coverage, a 603 BTC gap, until full backing and security reviews are complete.
- 96
IMF finds demand for tokenized stocks, says the market is still volatile, illiquid
An IMF report finds demand for tokenized stocks but says liquidity, legal rules and settlement remain immature.
- 97
One year after 10/10 flash crash, bitcoin and ether liquidity have rebuilt, but altcoins still face risks
Bitcoin and ether order books are deeper than before the October 2025 crash, while altcoin liquidity keeps eroding.