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
Delphi’s Jason Pagoulatos Says Papertrade Is ‘Kind of Bait and Switching’ PAPER Holders
Delphi's markets head says Papertrade changing its rules after about $140M in deposits is a bad look for PAPER holders. Useful on tokenholder trust, with limited detail in the snippet.
- 2
Why Papertrade Won't Let PAPER Trade
Papertrade explains why its PAPER token cannot be traded on its own platform, since in a house pool exchange the token is the house.
- 3
Aster Sets PAPER Perp Delisting After Transferability Decision
Aster is delisting the PAPER perp after Papertrade ruled out token transfers; open positions settled at $0.026296.
- 4
Papertrade Keeps PAPER Non-Transferable, Citing Perp Attack Risks
Papertrade keeps its PAPER token non-transferable, citing perp attack risks, while holders who earned it through losses can stake for USDC. A useful design-tradeoff story.
- 5
Papertrade Pays Traders to Lose
Galaxy Research piece on Papertrade, a model where traders are paid to lose; worth a look for incentive design in crypto markets.
- 6
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.
- 7
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.
- 8
Papertrade Says It Is Tightening Trading Limits After Manipulation Allegations
Papertrade says it is tightening onchain and relayer exposure limits, without confirming claims that a trader was blacklisted.
- 9
Papertrade Faces Oracle-Manipulation Allegation as House Pool Shows $3.14 Million
An oracle-manipulation allegation against Papertrade cites a wallet with $1.73M in realized gains, with unpaid winnings queued if the pool runs short.
- 10
Papertrade Shows $10.3 Million in Staker Rewards Hours After Launch
Papertrade's dashboard shows $10.3M in staker rewards funded by trader losses, with a roughly $5M house pool and no queued payout debt.