DeFi Curators - Steakhouse Financial, Gauntlet, RE7 Capital, MEV Capital, Block Analitica - are an overlooked, yet lucrative business that is well positioned for growth as DeFi becomes more fintech fr...

We had previously dove into the depths of Fuel's infrastructure stack and what makes it tick. But this cycle has taught us one thing - that infrastructure can only take you so far? Its the app layer t...

Regulatory posture toward crypto assets, SEC jurisdiction, token taxonomy, and proposed reform paths....

Following up on our deep dive, we're excited to present this memo on zkVerify, part of the Institutional Accelerator with TheTIE. This report outlines zkVerify’s improved operation flow for zero-knowl...

Story Protocol offers an exciting, forward-thinking vision for intellectual property management in an AI-driven, digital economy. Rather than extending outdated legacy systems, Story takes a bold leap...

Celestia has the tech and the thesis. What it doesn’t have is validation. It needs one breakout rollup, one app with traction and DA needs big enough to matter. That’s what turns the narrative into fe...

While the broader Web3 gaming market has been struggling, a handful of extremely well capitalized teams have seen their valuations retrace significantly from their early 2024 highs. Among them, MON Pr...

This draft builds upon Commissioner Peirce's Safe Harbor 2.0, proposing an interim regulatory approach intended to address current market needs while permanent rulemaking and legislative efforts are i...

Programmable asset ledgers will eat the world. The following essay explains how....

EVM chains have forever been optimizing for scalability but have always lagged behind alt VM chains like Solana, Sui, and Aptos when it comes to throughput and latency. But now we have a lineup of sev...

We believe that over the next 12-18 months there will be increasing interest in gaming projects that prioritize sustainable monetization over speculative hype. This report examines Mythical Games and...

Is the market fairly pricing Hyperliquid? This comprehensive analysis breaks down Hyperliquid's three-pillar architecture — perps trading, spot markets, and HyperEVM — and aims to highlight the headwi...

Squads has grown from a simple multisig solution into the foundation of Solana's treasury management infrastructure. With over $10B in secured assets across 300+ teams, Squads has become an essential...

The AI application bubble has only just begun. RL, distillation, inference time compute: the cat is out of the bag. Even if models were not scaling along four vectors (which they are) and the capabili...

This report analyzes the challenges in the gaming industry, focusing on distribution and user acquisition, and explores opportunities in the Global South. It introduces KGeN, a blockchain-powered gami...

If the appchain thesis holds and every major app launches its own L2, they’ll need more than just pure infra; they’ll need a full-stack solution. This is where Initia steps in—offering customization w...

Welcome back to Market Musings, our weekly memo covering timely market happenings. A lot has happened in the short period of time since last week’s Musings, so let’s hop straight into it! The centr...

This report explores Zenrock’s innovative approach to cross-chain communication through its distributed Multi-Party Computation (dMPC) technology and the transformative applications it enables, with a...

History suggests that markets often favor solutions that deliver tangible value, even when they involve calculated trade-offs. The success of Solana, despite initial centralization concerns, shows how...

Welcome back to Market Musings, our weekly publication designed to keep our readers informed about the most important and timely developments in the crypto market. It has been a while since our last p...