Minertaur

Trump is clearly in step 5 of his negotiating playbook, leaving the Iranians at the altar right when both sides were reportedly “inches away” from a deal in order to create maximum pressure. The problem is that both Iran and markets can see straight through it. Equities are barely down because nobody really believes he is willing to sustain maximum pressure indefinitely. Everyone understands what he is trying to do, but he has burned too much credibility for the threat to fully land. So instead of forcing a quick capitulation, he just turns the conflict into a slower war of attrition. Trump clearly sees equity prices as a resource he can spend. But if markets refuse to panic because they expect him to TACO and nobody wants to dump the panic low, then he never gets the market pain that would actually force him to bite the bullet and give Iran what it wants. At the same time, Iran is not backing down either because from their perspective this is existential. So you end up stuck in the worst possible middle: not enough credibility to force Iran to capitulate, not enough panic to force Trump to capitulate. That is where the molochian dynamic kicks in. This kind of half credible maximum pressure just traps both sides in a spiral of attrition where every missed off ramp makes the next one harder to take. The conflict keeps grinding forward until one side finally breaks, only after the damage is much worse and much harder to reverse than it needed to be. That is the cost of Trumpian policymaking when you get too cute with markets and start treating them as a metric to optimize instead of a signal to read. He tries to escape reality but all he is really doing is bottling up the pain until it comes back in a much uglier form.

Solana was built for security. As the ecosystem scales, so does our investment in the tools, standards, and support. Today that commitment deepens with a new security program, active monitoring, formal verification for top protocols, and a new crisis response network. Learn more 👇

Earlier today, a malicious actor gained unauthorized access to Drift Protocol through a novel attack involving durable nonces, resulting in a rapid takeover of Drift’s Security Council administrative powers. This was a highly sophisticated operation that appears to have involved multi-week preparation and staged execution, including the use of durable nonce accounts to pre-sign transactions that delayed execution.

We are currently investigating a security incident involving unauthorized minting of USR. At this stage: The collateral pool remains fully intact. No underlying assets have been lost. The issue appears isolated to USR issuance mechanics. Our immediate priority is to: 1) Contain the incident 2) Assess impact 3) Ensure legitimate users are not affected We are actively investigating and will share more updates shortly.

Introducing Dasher Tasks Dashers can now get paid to do general tasks. We think this will be huge for building the frontier of physical intelligence. Look forward to seeing where this goes!

Today marks a major milestone for MYRIAD. We’re accelerating our vision in building sharper, deeper and more accessible information markets.

BREAKING: The SEC has formally classified SOL as a digital commodity in its new crypto asset taxonomy, alongside BTC, ETH,  and 14 other assets. SOL is not a security.

This is absolutely insane: The world is quite literally facing what appears to be the largest energy crisis in history. US crude oil futures are now trading at a $20+/barrel DISCOUNT to Brent, also one of the largest on record. As the US increases production and taps into reserves, the EU is facing a full out energy crisis. European natural gas prices are up another +30% today and physical crude oil prices in Oman and elsewhere are trading at $150+/barrel. In other words, the gap between Oman and US prices now stands at ~70%, or ~$70+ per barrel. It has become so bad for Europe that the market is now pricing-in 2 interest rate HIKES in 2026, even as the US removes sanctions on Russian oil. US rate cuts in 2026 are almost entirely priced-out as a result with Core PPI inflation on PRE-WAR data rising to its highest since February 2023. The entire global economy just took a complete 180 degree turn in 3 weeks. The next few months are going to be historic.

We're excited to announce 'The Situation Room' by Polymarket is coming to Washington, D.C. The world's first bar dedicated to monitoring the situation. 🧵