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Metronome Discloses $15.7 Million Synth Shortfall, Blames Oracle Lag in Swap Module
DeFi

Metronome Discloses $15.7 Million Synth Shortfall, Blames Oracle Lag in Swap Module

MetronomeDAO says 6,367 msETH and 4.57 million msUSD lack backing after years of "unbacked float" accumulated through Chainlink price-feed latency; the treasury has staged $34 million in defensive positions to close the gap.
Coinbase Says Revenue From Its Base Layer 2 Fell Despite Record Volume
CeFi

Coinbase Says Revenue From Its Base Layer 2 Fell Despite Record Volume

Coinbase's Q2 filings show sequencer revenue from Base declined even as stablecoin transaction volume on the network grew sevenfold year-over-year.
Bitcoin Lags Stock Rally After Hawkish Fed Hold
Markets

Bitcoin Lags Stock Rally After Hawkish Fed Hold

BTC slipped 2.5% Friday as equities surged, closing a July in which the Fed's fifth straight hold and 3.7% PCE inflation shut the door on near-term rate cuts. Uniswap led weekly gainers; Worldcoin sank.
Polygon Turns Kansai Electric Loyalty Points Into JPYC Spending
Tokens

Polygon Turns Kansai Electric Loyalty Points Into JPYC Spending

Rewards earned in the utility giant's MOACT app now convert into Japan's regulated yen stablecoin, usable across DeFi through HashPort Wallet.
ENS Scales Back Plan to Move DAO Treasury Control to New Foundation
NFTs & Web3

ENS Scales Back Plan to Move DAO Treasury Control to New Foundation

The executable draft adds Security Council oversight of Endowment transactions and narrows the Foundation's initial token grant to 1 million ENS after delegates called the earlier plan a "governance attack."
Uniswap Protocol Revenue Nearly Triples After v4 Fee Switch as UNI Tops $4
DeFi

Uniswap Protocol Revenue Nearly Triples After v4 Fee Switch as UNI Tops $4

Three days of onchain data show the expanded fee switch is delivering for UNI holders — about $325,000 a day now flows toward UNI burns, and the token is up 16% on the week. Liquidity providers and rival DEX founders say that money comes out of their pockets, and Uniswap's own documentation shows both sides are working from real numbers.
US Sanctions Iranian Marine Insurers Taking Bitcoin for Strait of Hormuz Passage
Regulation & Politics

US Sanctions Iranian Marine Insurers Taking Bitcoin for Strait of Hormuz Passage

Treasury says HormuzSafe, developed by Iran's Ministry of Economy, accepted digital assets to fund an IRGC-backed 'extortion' scheme targeting commercial shipping.
Aave Moves to Retire 50 Low-Adoption Assets, Wind Down Six Chains
DeFi

Aave Moves to Retire 50 Low-Adoption Assets, Wind Down Six Chains

Kulechov says the $98 million cleanup 'should not be interpreted as a view on any L1 or L2' as the lending giant narrows its focus to high-value markets.
Lightning Labs Launches Site for L402 Bitcoin Agent Payments
Infrastructure

Lightning Labs Launches Site for L402 Bitcoin Agent Payments

The protocol, which lets AI agents pay Lightning invoices to access API endpoints, already runs inside Lightning Loop; the new site is the launch.
Bitcoin Slips Below $64K After Warsh Says "No Soft Inflation Target"
Markets

Bitcoin Slips Below $64K After Warsh Says "No Soft Inflation Target"

Crypto's relief pop after the Fed's 9-3 hold faded within the hour as the new chair's hawkish press conference dragged risk assets lower.