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Analyst Note
For the time being, our intelligence will be delivered through a report-based newsletter, combining LLM systems with human analysis to deliver value-packed web3 reports. Free users can enjoy a lite version, while paid subscribers get full access to daily and seasonal reports. Thank you for your support! - Adam, Lead Researcher.

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Summary
GM, Kamala Harris made her first public statement on cryptocurrency during her presidential campaign, expressing support for the industry while emphasizing consumer protections. In technological advancements, the Hemi Network, founded by Bitcoin core developer Jeff Garzik, introduced a novel "tunneling" feature aimed at linking Bitcoin and Ethereum while enhancing security. Meanwhile, BlackRock amended its Bitcoin ETF filing to require faster Bitcoin withdrawals from Coinbase, addressing investor concerns about onchain settlement practices.

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News Headlines
💱 Stablecoins and Crypto Threaten Fiat Money Dominance in Eastern Asia

• Stablecoins account for 40% of the total value received in Hong Kong, marking a significant shift towards crypto adoption.

• Eastern Asia became the sixth-largest crypto economy in 2024, representing over 8.9% of the global cryptocurrency value.

⚖️ OpenSea Users File Class-Action Lawsuit Claiming NFTs are Securities

• Two OpenSea users filed a class-action lawsuit in Florida, alleging that NFTs purchased on the platform are unregistered securities.

• The plaintiffs argued that under the Howey test, their NFTs were investment contracts, expecting profits from the efforts of others.

🎮 Hamster Kombat Announces Season 1 Airdrop Details

• Only 131 million out of 300 million users (43%) qualify for Hamster Kombat's season 1 airdrop.

• A total of 60 billion Hamster Kombat tokens will be distributed, with 88.75% airdropped immediately and 11.25% vested for 10 months post-listing.

✈️ Travala Integrates Solana for Crypto Payments and Rewards

• Travala, a crypto-based travel ticketing service, has integrated Solana to enhance its crypto payment options.

• Users can now book hotels and flights using SOL and major stablecoins, with zero transaction fees for travel bookings.

🔒 Samourai Wallet Forked into 'Ashigaru' Open Source Project

• A group of developers announced a hard fork of Samourai Wallet, creating the Ashigaru Open Source Project focused on privacy and security.

• The new project aims to foster accessible, secure solutions for users navigating digital currencies while distancing itself from legal issues faced by Samourai Wallet.

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Market Metrics

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Fundraising & VC
1. Celestia (Undisclosed, $100M) - Modular blockchain network
2. Darkbright Studios (Seed, $6M) - Game development company
3. Helix Labs (Pre Seed, $2M) - Blockchain protocol
4. Zulu Network (Seed Undisclosed) - Bitcoin Layer 2 platform