Greater efficiency, William Jevons predicted, would lead to even greater consumption

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Macro headwinds muddy Solana’s bullish narrative
Galaxy’s Toronto Stock Exchange-listed shares are the seventh-largest holding of a new Grayscale fund
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Cardholders to make purchases with stablecoin balances at merchants across several Latin American countries
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Investors are still waiting for more concrete signs that the US is working on trade deals with other countries

Key metrics

ETH/BTC Ratio

Ethereum Gas Price

DeFi TVL

Fear and Greed Index

Federal Reserve Balance Sheet

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Ubisoft could let Champions Tactics players move their NFTs and tokens to another chain
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Research

Union’s improvements upon Tendermint consensus through CometBLS, coupled with ZK proving through Galois, allow for a broadly scalable, cost efficient, and low latency IBC implementation that is feasibly scalable across every existing blockchain, virtual machine and runtime. The implementation offers modular crosschain interoperability without the need for trusted intermediaries.  

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The crypto industry is still best known for manufacturing tokens, not value

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Some GOP members have indicated they will hold out on passing a bill that doesn’t include some key provisions

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General Motors reported a decline in net income and withdrew its previous 2025 guidance

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The president’s picks to lead the SEC and CFTC have been his most impactful crypto decisions so far, law partner says

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The suit alleges RTFKT assets are securities and that Nike conducted a “scheme to mislead and deceive” with its short-lived crypto push

As the crypto industry matures and integrates deeper into the global financial system, it faces an evolving, complex threat landscape marked by increasingly sophisticated fraud schemes, heightened regulatory scrutiny, and growing expectations around transparency and auditability. In this Blockworks Roundtable, risk […]

events

Brooklyn, NY

SUN - MON, JUN. 22 - 23, 2025

Blockworks and Cracked Labs are teaming up for the third installment of the Permissionless Hackathon, happening June 22–23, 2025 in Brooklyn, NY. This is a 36-hour IRL builder sprint where developers, designers, and creatives ship real projects solving real problems across […]

events

Industry City | Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.
0xResearch
0xResearch is the show for those who want to step up their game and think like a crypto analyst. We bring on crypto's best to uncover the latest research, explore protocol developments and identify new narratives. We are full-time crypto..
1000x
1000x is a crypto markets podcast hosted by professional traders Avi Felman and Jonah Van Bourg. We bring on experts to dive deep into the macro and micro factors that represent the lifeblood of digital money and web3. As an..
Bell Curve
Bell Curve breaks down the most important themes in crypto for people who, like us, are confined to the middle of the bell curve. Each season explores a different thesis that we'll test and refine through debate with crypto's best...
Empire
Empire features interviews with top crypto founders to get the real stories that aren’t shared elsewhere. Empire is your look behind the curtain of the crypto industry. We release two episodes per week: guest interviews on Monday and a weekly..
Expansion
The podcast on Modular. Exploring a refreshed vision for building in crypto. Expansion is a podcast exploring the intersection of modular blockchain design and abundant blockspace. We’ll bring on the leading voices from the modular ecosystem to discuss blockchain design,..
Forward Guidance
The laws of macro investing are being re-written, and investors who fail to adapt to the rapidly changing monetary environment will struggle to keep pace. Felix Jauvin interviews the brightest minds in finance about which asset classes they think will thrive..
Lightspeed
Lightspeed is a podcast for those interested in how crypto can solve real problems and create products users love. It's a callback to the garage days of Silicon Valley, where builders pushed the limits of hardware and software to build..
Supply Shock
Supply Shock, hosted by Pete Rizzo, The Bitcoin Historian, explores the latest Bitcoin news with a deep historical perspective. Featuring in-depth interviews with industry experts, each episode connects current events to key moments in Bitcoin history, revealing patterns, lessons, and..
The Breakdown
A daily analysis of macroeconomics, bitcoin, geopolitics and big picture power shifts, hosted by Nathaniel Whittemore @nlw. The Breakdown is part of Blockworks...
Hivemind
Hivemind combines Delphi Digital’s brightest minds to cut through the crypto noise. Jose, Yan, Ceteris and Duncan explore everything from venture to token design, offering an unfiltered perspective on what shapes the industry. We cut through the hype to focus..
Trust-Minimized Crosschain Interoperability

Blockworks Research

Union’s improvements upon Tendermint consensus through CometBLS, coupled with ZK proving through Galois, allow for a broadly scalable, cost efficient, and low latency IBC implementation that is feasibly scalable across every existing blockchain, virtual machine and runtime. The implementation offers modular crosschain interoperability without the need for trusted intermediaries.  
by Luke Leasure /
DoubleZero: A Piece of the Priority Pie

Blockworks Research

We believe DoubleZero, given its symbiotic relationship with validators & searchers, promise to boost overall network efficiency and throughput, lack of competition, and ability to serve many blockchain ecosystems, will command meaningful pricing power and could command a meaningful take of priority revenues across blockchains.
by Ryan Connor /
Ethena: Evolving into an Institutional DeFi Chain

Blockworks Research

Ethena Labs is leaping from its flagship synthetic dollar, USDe, to a full product suite—USDtb, iUSDe, and the Arbitrum-based Converge Chain—designed to marry crypto-native yields with TradFi-grade compliance. Our analysis shows how expanding into CME, ETF options, and tokenized Treasuries could lift protocol revenue from sub-$500 million in a bear case to several billion dollars if favorable regulation and institutional adoption align.
by Daniel Shapiro /
Jupiter: Scale, Synergies, and Scrutiny

Blockworks Research

Jupiter has emerged as the undisputed liquidity backbone of Solana, commanding over 90% of spot DEX aggregation and 80% of perp trading volume. But behind the numbers lies a far more ambitious play: a cross-chain, vertically integrated super-app spanning swaps, synthetics, NFTs, memecoins, and launchpads. This report explores Jupiter’s rapid rise, the monetization upgrades reshaping its revenue profile, and the risks that could unwind its dominance, from token dilution to competition. With annualized revenues nearing $300M, the upside is undeniable, if it can navigate the turbulence.
by Marc-Thomas Arjoon, CFA /