LECCA Intern (Ø,G) 🍜

What happened in Crypto in the last ~24h: - Fed Reserve pumped $13.5 Billion into the U.S. Banking System - Strategy ($MSTR) $BTC for ~$11.7M, but implied possiblity of selling below mNAV 1, as of now it is 0.98. - $RLS, $XPL Coinbase Spot Listing - $ZAMA Public Auction on Jan 12 - U.S. FDIC Chief Says First GENIUS Act Regulations Heading for Proposal This Month - Kalshi Introduces Tokenized Event Contracts on Solana - YZiLabs launches boardroom coup at $BNB treasury firm BNC - SEC Chairman Paul Atkins is set to deliver an "important speech" tomorrow. • According to FRED Overnight Repurchase Agreements data, Fed Reserve just pumped $13.5 Billion into the U.S. Banking System through overnight repos. Barchart X account has described, This is the 2nd largest liquidity injection since Covid and surpasses even the peak of the Dot Com Bubble. The largest injection during the Covid period was 100.8B. • $RLS, $XPL - @coinbase has announced that @RaylsLabs ($RLS) and @Plasma ($XPL) market will begin on Dec 1 and Dec 2 for each, It will begin later today if liquidity conditions are met, in regions where trading is supported. • $ZAMA - @zama announced that 10% of the $ZAMA supply will be sold through a sealed-bid Dutch auction on Ethereum on Jan 12, using the Zama Protocol’s FHE technology to keep bids confidential. The auction happens after mainnet, with all purchased tokens fully unlocked and usable immediately for encryption fees, staking, or delegation. • @Strategy has acquired 130 $BTC for ~$11.7M at ~$89,960 per $BTC and confirmed that they now holds 650,000 $BTC. According to Dec 1 MSTR Company Update Call, Saylor and MSTR's CEO uttered they could sell bitcoin and sell bitcoin derivatives when MSTR's mNAV become below 1x. Also, they disclosed 650k $BTC around ~56.2B. MSTR's M.Cap is 55.4B as of now. So mNAV is ~0.98. • FDIC Acting Chairman Travis Hill is set to testify at a House hearing that his agency is ready to propose a stablecoin application rule before the month is out. The GENIUS Act contemplates an array of federal and state entities taking part in the supervision of the stablecoin sector. • @Kalshi has set a new monthly all-time high with $5.8B in November volume, a 32% increase from October, Polymarket has also posted a record $3.74B in November trading volume, up 23.8% month over month. The volume surge continues a breakout year for both platforms, which have increasingly dominated global prediction market flows. • @yzilabs reports BNB Network’s rollout has faltered, citing sluggish investor updates, delays around key filings, and a widening gap between the stock and its underlying BNB holdings. CEA Industries surged 600% in July after YZiLabs and 10X Capital led a $500M private placement. @SECPaulSAtkins has announced his speech at 10:00 a.m. ET to watch. Also, he described that speech is on the enduring principles that have powered the world's most dynamic economy for the first 250 years of America. The announcement has generated significant interest in the regulatory community as stakeholders anticipate key insights on upcoming policies and regulatory frameworks. Investors and industry professionals are urged to stay tuned for updates that could impact the financial landscape.

We’re excited to share our 2025 State of Crypto report. This year’s story: the maturation of the crypto industry — with growing institutional adoption, the rise of stablecoins, better infrastructure, new consumer experiences, and long-awaited regulatory clarity. Read the full report → a16zcrypto.com/posts/article/… Here are the biggest trends of 2025…

Orange coin is now live on the purple chain. $cbBTC is live on 0G mainnet. Provide liquidity on @Jaineon0G and enjoy boosted APR*.

an often-overlooked way to harden the security of networks and systems is to remove as much financial upside as possible for an attacker to exploit @warpaul explained how imua does this in his @Cryptic_Web3 interview

Walrus: a faster, cheaper, verifiable data layer for the AI and agentic commerce era When centralized clouds shut down, the entire internet halts as well. @WalrusProtocol was designed so data is always live by splitting content across many nodes, anchors “proofs of availability” on-chain, and serves assets through multiple routes. So even when parts of the network fail, apps can still continue running and provenance stays auditable. - - - - - Intro @WalrusProtocol is a decentralized data platform created by @Mysten_Labs, the team behind @SuiNetwork. Data (“blobs”) are erasure-coded and spread across a global set of $WAL-staked storage nodes; metadata, economics, and proof settlement live on Sui. Each blob is mapped to a Sui object (type of value on Sui, addressable on-chain by unique IDs), so ownership and access control become fully programmable → this is where data can interact with smart contracts, payments, and permissions. Tech stack • Red Stuff encoding & sharding: Reduces data replication overhead costs by slicing data into fragments stored across many nodes, rebuilding from subsets if some fail (improves efficiency) • Proofs of Availability (PoA): Nodes are randomly challenged to prove they still hold their data with each signed proof recorded on Sui→ this creates a public, immutable audit ledger of what data is actually available on-chain • Programmability: Transforms data into a programmable asset – enabling automation, monetisation, and access control through Sui smart contracts • Access layer: Portals and “Walrus Sites” provide many paths to publish and get relevant content (no single point of failure) • Cost advantage: About ~80% cost savings are attributed to Walrus’s “Red Stuff” erasure coding and architecture when compared to legacy solutions like Filecoin and Arweave Network stats • Total blobs stored: ~15.45m all-time has been registered, that is actual scale • Utilization: ~538 TB used of ~4,167 TB capacity (~12.9%) • Daily flow: ~5.5k new blobs; 10k–15k storage events • Security: ~1.01B $WAL staked (roughly ~67% of current circulating supply in the market) across ~125 storage nodes Competitive landscape: How Walrus stacks up against Filecoin, Arweave, and IPFS • @WalrusProtocol: Provides verifiable, programmable data management with flexible storage terms; metadata resides on Sui; erasure-coded shards on WAL-staked nodes. Red Stuff encoding delivers lower effective $/GB by avoiding multiple full copies while retaining fast recovery and auditability. • @Filecoin: Offers a market for storage deals (default “cold” archival); miners prove replication and spacetime for term-based contracts. Pay for durable copies (or “forever” persistence), trading off write cost and policy flexibility. Posts zk/PoSt proofs periodically • @ArweaveEco: “Blockweave” for permanent archival; pay once, store forever; proof-of-access built atop PoW. Both Filecoin and Arweave typically pay for durable copies (“forever” persistence), trading off write cost and policy flexibility. Arweave anchors permanence via the blockweave history • @IPFS: content-addressed P2P network; discovery and transport only → persistence requires pinning or external providers. IPFS verifies content hashes on fetch but not persistence In a nutshell, Walrus’ key USP lies in the fact that for apps that need verifiable availability, hot retrieval, and programmable data flows (AI agents, ad performance, dynamic apps), their architecture optimises the cost/performance pain points that general-purpose archival systems or transport layers generally do not optimize for. Adoption and traction for Walrus • @Everlyn_ai (AI video): Using Walrus as the default data layer for video and training artifacts → migrating datasets off AWS/Azure, storing 5k-plus user videos, and leveraging Sui for smart payments (maintain speed while lowering storage costs) • @TalusNetwork (on-chain AI agents): Uses Walrus as its default data layer, so agent state and models have verifiable availability • @flock_io (privacy-preserving AI): Uses Walrus with Seal to enable storing, training, and deploying AI models with privacy guarantees • @Humanityprot (human ID): Uses Walrus to store over ~10m verified user credentials on-chain leveraging Walrus’s verifiable, high-throughput data layer for identity proofs. This integration enables real-time credential issuance, programmable access control, and cross-chain identity verification Recall October’s AWS outage which took many websites offline (since traditional sites cluster in one cloud region). Websites and apps using Walrus are served from multiple decentralized storage nodes with onchain metadata and portal access → thus removing the single-region dependency and keeping content retrievable even when some nodes or regions go dark. This is exactly the class of failure Walrus was designed to avoid. Our personal takeaways • Walrus promises ~80% lower effective storage cost vs. incumbents and more partnerships will only prove that the tech works • There are already live partners across AI/video, agents, adtech, data marketplaces, identity → which is good since there is an actual infra to migrate content off centralized clouds • Walrus’ edge is that it has the capacity to provide verifiable availability at fast speed with programmable economics • Some considerations involve a dependency on Sui as Walrus offloads metadata, pricing, staking, and proof settlement to Sui → which means they inherit Sui’s liveness/fee conditions and governance and any Sui outage or congestion can affect performance. Slashing is also not live yet, so any misbehavior relies more on reputation/economics than hard penalties - - - - - Walrus partner, views are my own

Korean institutions are moving into crypto

That’s a wrap on the ZKcandy PRE-TGE campaign on @Galxe 🍬 A HUGE thank you to everyone who joined in. The Starboard entries are cooking, give it a few days while we finalize the list. Stay tuned, next drop’s already loading...

off-chain trust is at all-time lows while blockchains are at all-time highs that means there's a huge trust arbitrage between on/off chain systems that can be exploited for good Imua is extending on-chain, verifiable trust to millions of developers building off-chain services @warpaul explains ⤵️

Every platform follows the same cycle: Open → Grow → Close → Monetize. Facebook killed viral apps. Apple taxed 30%. Google buried SEO. LinkedIn throttled reach. Next up: ChatGPT. Its moat isn’t users. it’s the memory. Once it knows everything about you, the walls go up. Before the wall closes, Voyage is here to build the open graph of AI distribution. blog.brianbalfour.com/p/the-next-gre…

Quick rundown on x402 -->@coinbase 's Internet-Native Payment Standard TLDR: Enabling Al agents to make instant payments using stablecoins Intro • An open-source payment protocol developed by Coinbase --> enabling instant, autonomous micropayments directly over HTTP • Governed by the x402 Foundation (co-founded by Coinbase and @Cloudflare) and operates on @base with $USDC, enabling payments as low as $0.001 with ~2-second settlement times • x402 embeds payments directly into HTTP interactions using the long-dormant 402 status code • Leverages existing EVM standards rather than deploying custom contracts, utilizing USDC's EIP-3009 compliance for transfers Use Cases & Ecosystem Applications • AI Agent Autonomous Payments: x402's flagship use case enables AI agents to act as independent economic entities, automatically paying for API access, data retrieval, and compute resources • Integration with Model Context Protocol (MCP): allows agents to discover and purchase tools without human intervention, supporting the emerging "agentic economy" projected to reach $30 trillion by 2030 Real world implementations •@circle integration: AI agents create email-based wallets, onramp fiat, and execute autonomous USDC payments • @Cloudflare Agents SDK: Pay-per-crawl functionality • @Google A2A/AP2: Integration with Agent2Agent and Agent Payments Protocol creates hybrid agent-human payment capabilities Some x402 tokens • $VIRTUAL • $PING • $SANTA • $PAYAI • $DREAMS • $AURA • $HEU • $MRDN (NFA just listing out the tokens that are in this narrative) Personal thoughts This represents a shift toward internet-native payments, positioning itself as the "HTTPS for value" in the AI-driven economy

在经历了 Booster 活动结束的用户集中提款后，我很高兴宣布 ZEROBASE Staking 资金流入再次为正，当前TVL的月协议利润仍超过100万美元. 我们通过Binance Booster Earn 找到了 PMF. 我要感谢 @binance @BinanceWallet 团队和两位创始人 @cz_binance @heyibinance 我们目前提供12%稳定币年化

sustainable community-driven imua ⏩

@ekang426 @ilblackdragon big congrats!

A year ago, I gave birth to our lovely daughter. Five days ago, we welcomed our son aka mini @ilblackdragon to the world. Now the dragon family is complete!

blockchains don't trust, they verify imua extends that verifiability to the global economy of off-chain services the right tech at the right time ⤵️

Just day 1; 0g live on @GeckoTerminal

报告制作人siyuan是目前在我lab实习的博士生. 这是他根据ZEROBASE当前收入情况做的 DAO 回购模型和价格驱动分析，主要计算了不同回购策略下对ZBT价格 需要注意 ZEROBASE 作为项目方不对代币做出任何回购承诺，lab和ZEROBASE不存在隶属关系 该报告属于社区的自发行为

izna 2nd Mini Album 'Not Just Pretty' OUT NOW! 🎧Go Listen NOW shorturl.at/rfOcc

every Senpi app notification now includes a 📈 chart with visualization of current price and your 🤖 AI auto-trading 🎯 profit and 🛑 stop loss ladders! Sell notifications also chart your exits! we'll continue iterating and improving on this ... try for yourself @senpi_ai

Strong turnout in Seoul 🇰🇷 for our private institutional briefing. Digital Asset Co-Founder and CEO @YuvalRooz led a deep-dive on @CantonNetwork and an engaging Q&A. 🔑 10+ of Korea’s leading banks, securities firms, and the Korea Exchange joined to explore how stablecoins and tokenized bonds/equities can be settled instantly and securely on Canton. Hosted by LECCA Ventures. #KBW2025

reminder to just keep moving forward ⏩