Research
Every Research read CryptoBloggers has picked: 216 so far, 182 in the last 30 days, strongest first under “Start here” and newest first below.
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- 1
Wallet Linked to CryptoBilis Thefts Routes 464 ETH to Tornado Cash
Onchain tracing links a wallet tied to the CryptoBilis thefts to 464 ETH sent through Tornado Cash, with the source address still holding about 700 ETH.
- 2
Alpenglow: What We Learned Running Solana's Biggest Consensus Change
Galaxy Research shares lessons from running Solana's largest consensus change, Alpenglow, in production.
- 3
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.
- 4
Bitcoin’s 21 Million Limit Doesn’t Enforce Itself. A Bitcoin model matched Core across 100,000 test executions. The gap that remains reveals what it really takes to protect Bitcoin’s most important promise.
A Bitcoin model matched Bitcoin Core across 100,000 test executions and examines what still must be done to enforce the 21 million cap through independent node validation.
- 5
In 2014 a Bitcoin educator sent 30 cents to the brain wallet "Satoshi Nakamoto" on video, it was spent in the same block, a day before the video was published.
Onchain check of a 2014 brain-wallet stunt shows the 30 cents went to the wallet and was spent within the same block, before the video was published.
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I counted one week of x402 payments on Base. Buyers who come back are rare, and they don’t buy what I expected
A Reddit x402 seller tracked a week of USDC payments on Base across Coinbase's catalog of about 1,775 seller wallets; returning buyers were rare, and his own two tools got 8 paid calls from about 9,300 requests.
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Research picks in the 6:30 email
The day’s five best crypto reads, plus AI agents doing real things on-chain. Free, every morning at 6:30 a.m. Central.
Every Research card
newest first · page 1 of 8- 1
BoE and Asian Central Banks Test Linked FX Settlement
Bank of England and Asian central banks tested linked FX settlement across traditional and tokenised systems, without live participants.
- 2
KPMG Signs Off on Tether Gold Issuer’s 2025 Books, Covering $2.2 Billion in Bullion
KPMG signed off on TG Commodities' 2025 books covering $2.2B in gold backing XAUT, though only Tether announced it.
- 3
In 2014 a Bitcoin educator sent 30 cents to the brain wallet "Satoshi Nakamoto" on video, it was spent in the same block, a day before the video was published.
Onchain check of a 2014 brain-wallet stunt shows the 30 cents went to the wallet and was spent within the same block, before the video was published.
- 4
Crypto hack losses equal 57 cents per $1 earned onchain: Ark’s Valente
ARK research says 2026 hack losses reached $8.7B, exceeding projected annual onchain revenue across the industry.
- 5
Arkham Traces $63 Million in Bitget Hack Funds to CoinJoin
Arkham traced $63 million of Bitget hack funds into CoinJoin mixing, with another 959 BTC in labelled wallets.
- 6
Tether has about $4.8B in exposure to US stock markets
Protos reviewed Tether's regulatory filings and found about $4.8B of exposure to US stock markets via 13 listed companies.
- 7
I built an interactive tool that shows what happens when you invest monthly into crypto, for past and future
An interactive page lets readers test monthly DCA into BTC, ETH, SOL or XRP using real past prices; the tool is self-built and not independently vetted.
- 8
Bitcoin has been declared dead 482 times since 2010. A creator turned every one of them into a gravestone
A creator catalogued 482 Bitcoin obituaries since 2010 with headlines, dates and prices, a light but useful historical record.
- 9
Running on Empty
Glassnode's onchain read finds Bitcoin below the STH cost basis, with stablecoin, ETF and US capital outflows and two large wallet cohorts buying.
- 10
Bitcoin Covenants Part 5: MATT and OP_CHECKCONTRACTVERIFY — How Bitcoin could carry state across transactions
Explains how OP_CHECKCONTRACTVERIFY could let Bitcoin carry contract state and enable compact fraud proofs via Taproot outputs.
- 11
Addressing the Post-Quantum signature bloat problem without sacrificing consumer node validation
Quantifies the ~3,300-byte overhead of ML-DSA-65 signatures and frames the node-validation bottleneck for a post-quantum Bitcoin transition.
- 12
0xB10C, Sjors Provoost - Bitcoin Optech Newsletter #430 Recap Podcast
Bitcoin Optech newsletter recap covering BIP54, replay protection and co-signer spending policy proposals.
- 13
LlamaRisk Proposes $1.33B Collateral Exit From Aave Core
LlamaRisk proposes freezing and exiting $1.33B of collateral from Aave Core, with borrowers asked to migrate to V4.
- 14
Countdown to ANT: What the Pre-IPO Perps Markets Say About Anthropic’s IPO
Coin Metrics examines pre-IPO perp settlements and converts between market-cap and share-price valuations for Anthropic's IPO. Useful methodology, but niche.
- 15
NOWPayments + Glassnode: Stablecoins in Commerce
Glassnode and NOWPayments compare how USDT and USDC move onchain versus how merchants are paid, informing which coins and networks to accept. Sponsored-report risk is worth noting.
- 16
The Shadow Market Behind China’s AI Model Distillation Boom
Chainalysis investigates a shadow market of proxy services helping Chinese users reach restricted US frontier AI models.
- 17
Built a timeline of Bitcoin’s history. What important moments am I missing?
A 61-event Bitcoin history timeline where every date is linked to a primary source, useful as a reference.
- 18
North Korean hackers create memecoins to launder funds from Binance hack: Elliptic
Elliptic traced Binance-hack proceeds through six new NEAR memecoins used to obscure transfers, a concrete laundering investigation.
- 19
Binance Hack Launderers Mint Elon Musk and Animal Meme Coins to Move Stolen Crypto
Elliptic says Binance hack launderers are minting meme tokens with Elon Musk and animal logos and routing stolen funds through liquidity pools to obscure the trail.
- 20
What wash-filtering x402 paid-API traffic turned up: 130 of 1,187 services flagged
Agentropolis's builder ran a wash filter on one week of onchain x402 settlement data across 1,187 services; 130 were flagged and one stopped service still held about 15% of 30-day volume.
- 21
North Korea Turns DIY Meme Coins Into a Laundering Pipe for Stolen Binance Crypto, Elliptic Says
Elliptic traced about $430,000 of stolen Binance funds through six NEAR memecoins launched by North Korean launderers.
- 22
North Korea Is Minting Its Own Meme Coins to Launder Binance Hack Loot
Elliptic traced North Korean launderers minting six throwaway memecoins on NEAR to move about $430,000 of Binance hack funds.
- 23
Western Europe’s $2 Trillion Crypto Economy Holds Firm
Chainalysis data shows Western Europe's crypto economy at $2.08 trillion, growing 1.2% despite a global downturn.
- 24
BTC Market Pulse: Week 46
Glassnode weekly pulse: ETF outflows heaviest since July and short-term holders near break-even with protection demand high.
- 25
Satoshi Disabled 15 Bitcoin Commands in 2010. Sixteen Years Later, Developers Want Them Back.
Explains the BIP 440/441 push to restore 15 disabled Bitcoin opcodes, including OP_CAT, under a computational budget design.
- 26
OP Mainnet Active Addresses Jump Nearly 20-Fold to a 30-Day High
OP Mainnet active addresses hit a 30-day high, up nearly 20-fold, while transactions and fees barely moved, suggesting a possible wave of address activity rather than real usage.
- 27
Onchain data casts doubt on insider-trading theory in NYT’s ‘suspicious’ election betting story
Onchain data and two outside experts undercut the NYT's suspicious-betting claims about election markets, finding no strong sign of insider trading.
- 28
Quantum Resistant BTC-transactions Without New Cryptography?
A proposal for quantum-resistant Bitcoin transactions via a hash-commit pre-transaction, presented as an idea without analysis or evaluation.
- 29
BlackRock's IBIT holders sold 56,800 BTC near $63K in June, then bought 78,000 back near $77,600. Their average cost is $81,136 a coin, so they're about 6.5% under water now.
Analysis of IBIT holder flows from the fund's daily holdings files, showing average cost near $81k and holders about 6.5% under water.
- 30
This Bitcoin Developer’s Idea Would Make Quantum Attacks a Losing Bet
Cory Fields proposes making quantum attackers post Bitcoin collateral before touching vulnerable wallets, turning attacks into a costly bet for prepared owners.