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US House Slips CBDC Ban Into Defence Spending Bill

by admin August 24, 2025



In brief

  • House Republicans have attached anti-CBDC measures to an upcoming Defense Bill.
  • The U.S. remains the only major economy to halt retail CBDC development.
  • Stablecoins have gained traction in the U.S. as lawmakers cite fears over the privacy and control of CBDCs.

House Republicans have added a provision banning central bank digital currencies (CBDCs) into a 1,300 page bill which lays out defense spending and priorities for the next financial year.

The amendment, included in bill H.R. 3838, would prohibit the Federal Reserve from testing, developing or implementing a CBDC under any label.

It adds an exception for “any dollar-denominated currency that is open, permissionless, and private, and fully preserves the privacy protections of United States coins and physical currency.”

“Attaching our Anti-CBDC Surveillance State Act to the NDAA will ensure unelected bureaucrats are NEVER allowed to trade Americans’ financial privacy for a CCP-style surveillance tool,” GOP Majority Whip Tom Emmer said last month, referring to the bill.

Attaching our Anti-CBDC Surveillance State Act to the NDAA will ensure unelected bureaucrats are NEVER allowed to trade Americans’ financial privacy for a CCP-style surveillance tool. @POTUS has made it clear: our legislation is a key piece of our America First agenda, and we…

— Tom Emmer (@GOPMajorityWhip) July 17, 2025

The charge to stop CBDCs in the U.S. is a largely Republican-led effort. Emmer himself attempted to introduce a CBDC Anti-Surveillance State Act in 2023 but it failed to gain momentum. It was reintroduced upon Trump coming to office and is currently making its way through the Senate.

CBDCs around the world

Globally, however, CBDCs are advancing rapidly. According to the Atlantic Council, 137 countries are exploring digital versions of their currencies, up from just 35 in 2020, and with 72 already in advanced stages of development. The U.S. remains an outlier after President Trump’s executive order earlier this year to halt all retail CBDC work.

The opposition to CBDCs in the U.S. reflects competing visions of the future of money. Critics of CBDCs fear government overreach, surveillance and disruption to the banking sector.



The American Bankers Association (ABA), which backed the House measure in July, argued that a CBDC “would fundamentally change the relationship between citizens and the Federal Reserve, undermine the important role banks play in extending credit, exacerbate economic and liquidity crises, and impede the transmission of sound monetary policy.”

Nanak Nihal Khalsa, Co-Founder of human.tech by Holonym, told Decrypt that he hoped the senate bill against CBDCs passed because he feared “sleepwalking into surveillance money.”

“The fears are definitely justified,” he said, calling CBDCs “programmable money controlled by the state.” He added that, “Once every transaction runs through a state ledger, privacy is gone by default and the question isn’t if it gets abused, it’s when.”

“If the US takes a stand against CBDCs, it opens up space to build alternatives that are open, permissionless, and actually preserve privacy, the things that made digital money worth caring about in the first place,” Khalsa said.

Khalsa added that stablecoins issued by private companies also carried some of the same risks. “Private companies have the same incentives to track, exclude, and monetize,” he said. “The only difference is who you’re forced to trust, the state or a corporation. Without privacy guarantees built into the protocol itself, you’re choosing which empire you want to live under.”

Europe-based financial non-profit Finance Watch told Decrypt it believed concerns about surveillance are about “design, not about the concept of a CBDC itself.”

“It is entirely possible to create a CBDC that is open, permissionless, and preserves the same privacy protections as cash,” a spokesperson said. “That requires privacy by design and by default, strict limits on data collection, and offline functionality for small payments.”

“The real question is whether money should be run by private companies or issued by the central bank, as with cash,” they added, arguing that the digital Euro being developed in the EU is being designed as “a public alternative to established, privately controlled means of payment, reasserting citizens’ control of money and payments.”

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August 24, 2025 0 comments
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875% Dogecoin Liquidation Imbalance, DOGE Price to Explode?
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875% Dogecoin Liquidation Imbalance, DOGE Price to Explode?

by admin August 24, 2025


Dogecoin (DOGE), the king of meme coins, has registered a significant uptick in price. In the last 24 hours, the price climbed by more than 11%, setting up a liquidation imbalance of 875% within the past hour.

Bearish traders hit hard as DOGE price surges

As per CoinGlass data, bearish traders suffered more as they were stunned by the price shift. Short position traders saw $700,590 as the price of the meme coin rose steadily following a shift in broader market dynamics.

As of this writing, Dogecoin is changing hands at $0.2359, representing an 11.34% increase in the last 24 hours. DOGE soared to an intraday peak of $0.2417 before experiencing a slight decline.

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The trading volume remains high as it spiked by 165.15% to $5.42 billion in the last 24 hours. This suggests that investors are excited by the increased price performance in the Dogecoin ecosystem.

Meanwhile, those betting long on DOGE also witnessed a negligible loss of $71,880 within the same time frame. The broader market dynamics and rotation of funds into altcoins have paid off for DOGE in the last 24 hours. Investors are embracing riskier assets in the market as recovery kicks in.

Additionally, Dogecoin’s correlation with Bitcoin, the flagship cryptocurrency, has supported the current rebound move of the meme coin. Notably, Bitcoin has, within this same time frame, achieved stability above the $115,000 level.

Is Dogecoin price rally toward $0.30 possible?

Interestingly, less than 96 hours ago, popular on-chain analyst, Ali Martinez, had hinted that DOGE was consolidating and preparing for a possible 40% price increase.

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As highlighted by Martinez, the meme coin could take a while before it attains this level of price gain. If it materializes, the asset could hit $0.30.

A lot might rest on the activities of ecosystem bulls to push prices up to $0.30. Worthy of mention is that Dogecoin whales have been active in the last 10 days. Whales purchased a total of 400 million DOGE valued at over $90.79 million amid the price dip.



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August 24, 2025 0 comments
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Storage, not silicon, will trigger AI’s next breakthrough
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Storage, not silicon, will trigger AI’s next breakthrough

by admin August 24, 2025



Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial.

The debate over graphics processing horsepower is old news. Those who succeed in the future will be those who master where data resides. As global data creation continues to explode, lagging firms will be left locked out of the next stage of innovation.

Summary

  • Data volumes are exploding, with global creation projected to surpass 200 zettabytes by end-2025, more than all prior human output combined.
  • Centralized cloud storage is the AI bottleneck, inflating costs by up to 80% with egress fees and slowing large-scale data transfers to days.
  • Decentralized storage networks offer a fix, sharding data across independent nodes and embedding cryptographic proofs for compliance-ready audit trails.
  • Regulation like the EU AI Act raises the stakes, forcing provable data provenance—making storage a strategic priority, not a background utility.

Data creation is projected to crest 200 zettabytes worldwide by the end of 2025; that’s enough to stream every film ever made more than 100 billion times. This estimate involves more digital matter than humankind has generated in every prior year combined.

In tandem with this surge, research teams have revealed the first publicly released trillion-parameter language model. This behemoth model, whose training corpus alone would have filled entire national archives ten years ago, is an example of such a Leviathan that consumes petabytes an hour.

Without storage pipelines that can ingest, stage, and stream data at these newfound scales, even the fastest processors will suffer in idle frustration.

Centralized clouds are the new bottleneck

Most organizations still rely on a handful of hyperscale storage silos engineered for web apps, not frontier science. The financial drag is brutal.

An industry audit published in April revealed that hidden egress and retrieval charges can increase real storage costs by up to 80%, rendering routine model retraining a budget-breaking endeavor. Worse, moving tens of petabytes across regions can take days; an eternity when competitive advantage is measured in iteration cycles.

Centralization, therefore, does more than inflate invoices; it embeds inequality directly into the artificial intelligence economy, giving incumbents with deeper pockets an automatic edge over all others. In response to this reality, a different blueprint is gaining momentum as decentralized storage networks that shard data across thousands of independent nodes pave the way for a future built on equal footing. 

Equally vital is the need for transparent audit trails that satisfy looming disclosure mandates on how trading data is sourced, curated, and governed. Ultimately, regulation will be the deciding factor in whether tomorrow’s models see the light of day or face litigation.

Storage’s new stress test

Real-time AI now extends far beyond the data center wall, pushing models to factory floors, hospitals, and autonomous vehicles. At these edges, a millisecond lost to sluggish I/O can trigger a production fault or a safety risk. 

The latest MLPerf Storage v2.0 benchmarks prove the strain: checkpointing a GPT-class workload across 10,000 accelerators now takes 37 seconds, and even a 100,000-GPU supercluster still stalls for 4.4 seconds while waiting on disks rather than performing mathematical operations. 

Unless pipelines can deliver petabytes in bursts and then replicate the same data to thousands of micro-sites, ‘edge-AI’ will remain more keynote than reality. Analysts are already echoing the warning that storage throughput, not memory or networking, will be the number one bottleneck throttling next-gen clusters.

Regulation adds another layer of urgency, such as the European Union’s AI Act, which entered its second enforcement wave on August 2 — forcing general-purpose model providers to document every shard of training data…or risk fines of up to 7% of global turnover.

Centralized silos struggle to satisfy this mandate. Duplicative copies blur provenance, and opaque egress logs make audit trails a nightmare for accountants. By contrast, decentralized networks embed cryptographic proofs of replication into their very fabric, turning compliance into a byproduct rather than an expensive add-on.

Ignore storage at the cost of peril

With edge latency measured in microseconds and legal penalties measured in billions, storage is no longer a background utility; it is the only substrate on which tomorrow’s AI can legally and physically run. Firms that still treat capacity as a commodity line item are courting technical debt and regulatory shock in equal measure.

Compute innovation will continue to steal headlines, but without an equally radical rethink of where (and how) data resides, the most advanced silicon will sit idle as costs and compliance risks spiral.

The race for AI dominance is on, and it will be won by those who elevate storage to a first-class strategic priority, embrace decentralization, and build audit-ready pipelines that scale from core to edge. Everyone else will discover that no amount of GPU power can outrun a bottleneck built into the very foundations of their stack.

Kai Wawrzinek

Kai Wawrzinek is a co-founder of the Impossible Cloud & Impossible Cloud Network. He is a seasoned entrepreneur with a Ph.D. in Law and a proven track record of building successful ventures. Recognizing the need for enterprise-grade solutions in the web3 space, Kai founded Impossible Cloud Network (ICN), a decentralized cloud platform aimed at creating a decentralized alternative to AWS. Before ICN, Kai founded Goodgame Studios, an online game company, and grew the company to over 1,000 employees and generated more than €1 billion in revenue, taking it public on Nasdaq in 2018 through a reverse merger. 



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August 24, 2025 0 comments
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Morning Minute: Coinbase CEO Calls for Bitcoin to Hit $1 Million

by admin August 24, 2025



Morning Minute is a daily newsletter written by Tyler Warner. The analysis and opinions expressed are his own and do not necessarily reflect those of Decrypt. Subscribe to the Morning Minute on Substack.

GM!

Today’s top news:

  • Crypto majors mostly red heading into Jackson Hole; BTC -1% at $112,300
  • MetaMask introduces new stablecoin mUSD, to launch on ETH + Linea
  • Plasma’s XPL debuts at $0.45 on Hyperliquid pre-market, 9x from July presale
  • XCOPY piece ‘Death Wannabe’ sells for $475,000
  • Kanye token YZY falls another 37% to $0.69

💰 Brian Armstrong Joins the $1M Bitcoin Club

Coinbase CEO Brian Armstrong just laid out his big target:

Bitcoin could hit $1,000,000 by 2030.

📌 What Happened

Speaking on the Cheeky Pint podcast, Armstrong laid out his bold thesis for Bitcoin’s future, predicting $1M BTC within the next five years.

His rationale centers on three major drivers:

  • Regulatory clarity, with the U.S. paving the way as a “bellwether for the rest of the G20.”
  • Institutional adoption with ETFs, treasuries, and banks leaning further into crypto.
  • Government reserves, even floating the idea of a U.S. Strategic Bitcoin Reserve as a potential tailwind.

He joins a growing list of Bitcoin bulls: Jack Dorsey has also forecast $1M BTC, and Cathie Wood has gone further, projecting up to $3.8M by 2030.

And that doesn’t even take into account some of Michael Saylor’s predictions ($40M+ by 2040).

JUST IN: Michael Saylor says the bear market “is not coming back.”

“Bitcoin is not going to zero, it’s going to $1,000,000.” pic.twitter.com/kodw2huwL5

— Watcher.Guru (@WatcherGuru) June 10, 2025

🧠 Why It Matters

Anyone can make a big bull call like this.

But some calls matter more than others.

Brian Armstrong’s view carries weight as the CEO of the largest U.S. crypto exchange and a key player in regulatory conversations.

Big targets like $1M drive:

  • Market psychology: Big round numbers like $1M fuel long-term narratives and investor conviction, even if short-term volatility dominates.
  • Institutional FOMO: With ETFs booming and corporate treasuries accumulating, the groundwork for Armstrong’s thesis is already being laid.
  • Strategic framing: The idea of a U.S. “Bitcoin reserve” may sound wild, but in a world where nations are competing for financial sovereignty, it’s not far-fetched.

And targets like this make it easier for folks buying for the first time over $100,000 to have a nice return multiple in mind (helps with unit bias).

$1M is a meme number, but memes seem to find a way into existence in crypto.

The last big one was early Bitcoiners “selling to the bankers.” Well guess what, that’s actively happening.

So maybe if $1M BTC is memed enough, it will be memed into existence as well…



🌎 Macro Crypto and Memes

A few Crypto and Web3 headlines that caught my eye:

  • Crypto majors were mostly red on the day ahead of Powell’s comments at Jackson Hole this morning;BTC -1% at $112,300, ETH even at $4,285, XRP -3% at $2.80, SOL -2% at $180
  • ZEC (+11%), OKB (+7%) and MORPHO (+4%) led top movers
  • The ETH ETFs posted their first day of net inflows ($287.6M) after 4 red sessions
  • MetaMask announced its stablecoin mUSD, coming to ETH and Linea soon
  • A long-dormant Bitcoin whale moved 670 BTC (~$75M) to open leveraged long positions on Ethereum
  • The OCC rescinded its consent order on Anchorage Digital after the bank met AML compliance, restoring its status as the only federally chartered crypto bank in the U.S
  • The EU is considering dropping its CBDC plans for a stablecoin
  • Singapore’s DBS Bank rolled out Ethereum‑tokenized structured notes, giving institutional investors blockchain access to crypto-linked products
  • Gemini secured a MiCA license in Malta, enabling compliant expansion into 30+ European countries under EU crypto regulations

In Corporate Treasuries

In Memes

  • Memecoin leaders are green on the day; DOGE +2%, Shiba +1%, PEPE +3%, PENGU +4%, BONK +2%, TRUMP -2%, SPX -4%, and FARTCOIN -3%
  • YZY fell another 37% on the day to $0.69 and an $89M mc
  • SPARK (+80%), TROLL (+20%) and BITTY (+165%) led onchain SOL meme movers

💰 Token, Airdrop & Protocol Tracker

Here’s a rundown of major token, protocol and airdrop news from the day:

  • Plasma’s XPL token went live for pre-market perps trading on Hyperliquid, opening at $4.65B fdv
  • Coinbase added Trump-backed USD1 stablecoin from World Liberty Financial to its listing roadmap, expanding its stablecoin lineup

🤖 AI x Crypto

Section dedicated to headlines in the AI sector of crypto:

  • Overall market cap down 4% to $11.8B, leaders were mostly red
  • FARTCOIN (-4%), VIRTUAL (-4%), TIBBIR (+4%), ai16z (-3%) & VVV (-7%)
  • fxn (+24%), Simmi (+22%) and IRIS (+15%) led top movers

🚚 What is happening in NFTs?

Here is the list of other notable headlines from the day in NFTs:

  • ETH NFT leaders were mixed; Punks +4% at 48.3 ETH, Pudgy -1% at 12.44, BAYC -2% at 11.4 ETH
  • Reflections (+19%) and Meebits (+10%) were notable top movers
  • Bitcoin NFTs were mostly red or even, no notable movers
  • Abstract NFTs were mostly green, led by Final Bosu (+27%) and OCH Heroes (+15%)
  • XCOPY edition of 10 ‘Death Wannabe’ sold for $475,000 (only 4 editions still in existence)
  • Hyped new mint Cerebro trades below 0.08 ETH mint price after debut

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August 24, 2025 0 comments
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SharpLink (SBET) to Commence $1.5B Stock Buyback Program

by admin August 24, 2025



Ether treasury firm SharpLink Gaming (SBET) has authorized a stock purchase program of up to $1.5 billion.

SharpLink, which is helmed by Ethereum co-founder and ConsenSys CEO Joseph Lubin, said it will make the repurchases at a time and in amounts that depend on market conditions and share price in an announcement on Friday.

“Should there exist periods where our stock trades at or below the net asset value of our ETH holdings, it would be dilutive on an ETH per share basis to issue new equity through our capital raising efforts,” co-CEO Joseph Chalom said in the announcement.

“In this scenario, the accretive course of action may be to repurchase our common stock.”

The Minneapolis-based company holds 740,760 ETH, worth $3.19 billion at current prices. Numerous companies have unveiled ether treasury strategies in recent months to capture the upside from generating passive yield through ETH staking.

SharpLink shares traded over 10% higher at $19.85 on Friday morning following the buyback program announcement and as bitcoin surged after Fed Chair Jerome Powell’s comments opened the door to a September rate cut.

Read more: Powell Puts September Rate Cut in Play; Bitcoin Pushes Higher



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August 24, 2025 0 comments
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XRP Back at $3 Following Ripple's SEC Win, Market Eyes Next Move
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XRP Back at $3 Following Ripple’s SEC Win, Market Eyes Next Move

by admin August 24, 2025


XRP saw a sharp surge toward the weekend as investors reacted to the latest development in the Ripple SEC lawsuit, which saw its official closure.

According to a recent update provided by James K. Filan as regards the Ripple lawsuit, the Joint Stipulation of Dismissal of appeals filed by both parties on Aug. 7 has been approved by the Second Circuit, marking the official close of the highly followed legal battle.

The week had also been remarkable for the XRP Ledger ecosystem, in particular for the Ripple USD stablecoin, RLUSD.

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This week, Bullish announced that its historic $1.15 billion IPO would be settled in stablecoins, including RLUSD.

Ripple has also signed a new memorandum of understanding (MOU) with SBI subsidiary SBI VC Trade, outlining a plan to distribute Ripple USD (RLUSD) in Japan.

XRP returns above $3

XRP surged from a low of $2.78 to $3.10 on Friday as markets were sent into frenzy mode after Fed chairman Jerome Powell hinted at the possibility of a September rate cut in his address at the annual Jackson Hole, Wyoming.

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The move brought XRP above the daily SMA 50 at $3.01 again after it had declined beneath it earlier at the week’s start.

At press time, XRP was still sustaining above $3, trading up 8.54% in the last 24 hours to $3.03. XRP’s trading volume has risen in tandem with the price rise, up 83% in the last 24 hours to $10 billion.

Going forward, traders will watch if XRP will flip the daily SMA 50 at $3 once again into support to aim for a retest at recent highs of $3.38 and $3.66. A further drop below $3 might target the next major support at the daily SMA 200 at $2.46.



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August 24, 2025 0 comments
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IRS Loses Top Crypto Enforcer After Only 90 Days on the Job

by admin August 24, 2025


Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Trish Turner’s sudden exit from the IRS digital assets unit has sharpened attention on how the US will handle crypto tax enforcement going forward.

Based on reports, Turner stepped down roughly three months after taking the post, closing out a career that spanned more than 20 years at the agency.

What The Resignation Signals

According To LinkedIn posts and media reports, Turner said she looks forward to “continuing this mission from a new vantage point” and to building ties between industry and regulators.

Reports have disclosed she will join the crypto tax firm Crypto Tax Girl as tax director, a move confirmed by founder Laura Walter.

Bloomberg Tax first reported the hire. For industry players, the move is a reminder that public-sector know-how is in high demand in the private market.

Turnover At The Top

Turner follows two prior leaders who left the IRS crypto unit after roughly a year. Sulolit “Raj” Mukherjee and Seth Wilks both exited before Turner’s appointment in May.

That pattern raises questions about leadership continuity as Congress and oversight bodies push for clearer policy and improved enforcement.

On July 11, House committee leaders scheduled hearings aimed at creating a formal tax policy framework for digital assets. These hearings will test the IRS’s ability to keep up while staff and senior leaders change.

BTCUSD currently trading at $114,654. Chart: TradingView

Political And Oversight Pressure

Several recent developments have fed the urgency around crypto tax work. On July 4, US President Donald Trump signed a joint resolution that rolled back a Biden-era rule requiring some DeFi protocols to report transactions to the IRS.

On April 11, the US Treasury Inspector General for Tax Administration urged reforms after finding failures in how IRS criminal investigators handled digital-asset cases.

And in March, the Department of Government Efficiency, or D.O.G.E. proposed cutting the IRS workforce by 20%, a plan that would reshape capacity across the agency.

Industry Reaction And Next Steps

Economist Timothy Peterson greeted Turner’s move with levity, saying, “Trish Turner left the Dark Side to become a Crypto Jedi Knight.”

The quip points to a wider trend: regulators are being recruited by private firms that need help navigating new tax rules and growing compliance demands.

IRS Director Trish Turner left the Dark Side to become a Crypto Jedi Knight. Also to make 10X what the IRS paid her. Bio listed within hours. Don’t hate on her. One less of them. One more of us. pic.twitter.com/AgzjXWn1I9

— Timothy Peterson (@nsquaredvalue) August 22, 2025

For taxpayers and companies, that means better access to specialist advice. For the IRS, it may mean a steeper challenge in keeping institutional knowledge inside the agency.

What Comes After Turner

Based on reports, Turner did not list a start date in her announcement. The IRS has not publicly detailed a replacement plan.

With hearings planned and inspector general recommendations on the table, the agency’s work on digital assets is unlikely to slow.

How quickly leadership is restored, and whether the IRS can retain senior talent, will matter to lawmakers and to the businesses that must follow evolving tax rules.

Featured image from Getty Images, chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.





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August 24, 2025 0 comments
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HYPE price eyes $50 as Hyperliquid crosses $2b milestone
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Hyperliquid Grabs 80% of Perp DEX Market in One Year, Analysts Say

by admin August 23, 2025



Hyperliquid now controls roughly 80% of the decentralized perpetual futures market, highlighting its rapid dominance over competitors. However, this concentration raises concerns about sustainability and potential risks if trading volumes decline.

Summary

  • Hyperliquid has quickly become the leading decentralized perpetual futures platform, handling up to $30 billion in daily trades.
  • Its lean, self-funded team built a fast, execution-focused blockchain with fee-sharing incentives that attract traders and developers.
  • Despite rapid growth, risks like validator concentration, transparency gaps, and reliance on high trading volumes leave its future uncertain.

In just over a year, Hyperliquid has grown into the dominant player in decentralized perpetual futures, with Redstone estimating it controls about 80% of the market, trading volumes on par with big centralized exchanges, and fresh concerns over how long such concentrated activity can last.

At its peak, the platform processed as much as $30 billion in daily trades. That milestone, only a few decentralized exchanges have ever reached, despite being run by a lean team of just 11 people.

The platform, co-founded by Jeff Yan, a former Hudson River Trading quant and Harvard graduate, chose from the start to avoid venture capital, a decision that, combined with timing, gave Hyperliquid an opening it exploited faster than rivals.

Trading volume across decentralized exchanges | Source: CoinGecko

At the start of 2024, decentralized exchange dYdX had roughly 30% of trading volume across decentralized exchanges. By the end of that year, its share had fallen to around 7%, while Hyperliquid’s share stabilized above 65%, per CoinGecko’s data.

Much of Hyperliquid’s growth seems tied to execution. One-click trading, zero gas fees, and sub-second order finalization make it feel closer to a centralized exchange than most DEXs, which has helped attract both retail and professional traders.

“Built by a lean, self-funded team that refused to accept VC investors’ money, they’ve proven that technical excellence and community-first economics can outcompete well-funded competitors.”

RedStone

The platform runs on its own blockchain with HyperBFT, a consensus system designed to process hundreds of thousands of orders per second with settlement finality under a second. By focusing first on speed and reliability before expanding infrastructure, Hyperliquid appears to have earned credibility among traders faster than most peers.

Incentives and Revenue

The platform splits trading fees with its community. People who list new spot markets can keep up to half of the fees those trades generate. Developers who build user interfaces earn a share that can even exceed the protocol’s own cut. And those who launch perpetual markets share their fees with the investors who stake behind them.

This setup has pushed outside developers to build on the platform without needing grants or subsidies. They’ve already created tools to fill gaps like letting traders use one balance across different positions or borrow against their assets. The result is a growing ecosystem that competing decentralized exchanges haven’t been able to replicate.

Decentralized exchanges by trading volume | Source: DefiLlama

DefiLlama data shows Hyperliquid ranks third among decentralized exchanges by weekly trading volume, generating over $12 billion, behind only PancakeSwap and Uniswap. That surge has helped Hyperliquid produce more than $1 billion in annualized revenue, translating to an estimated $102.4 million per employee.

As previously reported by crypto.news, that figure exceeds Tether at $93 million, OnlyFans at $37.6 million, Nvidia at $3.6 million, and Cursor at $3.3 million.

Risks ahead

A joint report from OAK Research and GL Capital notes that despite Hyperliquid’s rapid growth, “several key milestones must still be met to validate [the valuation] thesis.”

“Centralization remains a concern, with only 16 validators, and the lack of transparency in the codebase could deter third-party developers. While full control over the infrastructure is a powerful model, it also exposes the platform to vulnerabilities, as demonstrated by the HLP incident.”

OAK Research and GL Capital

The platform’s reliance on sustained trading volume further amplifies risk. A prolonged bear market could temporarily depress returns and challenge the token buyback system that supports much of the HYPE ecosystem.

From a valuation perspective, analysts describe the opportunity as “asymmetric risk/reward,” with HYPE’s fair value estimated between $32 and $49 under conservative assumptions, which is about 86% of the top of that range, given that HYPE is trading at $42.

Hyperliquid has demonstrated rapid adoption, but it still faces multiple structural and market risks. Validator concentration, transparency gaps, reliance on high trading volumes, and execution-dependent growth all mean that results remain sensitive to both internal decisions and external market conditions.



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August 23, 2025 0 comments
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God in the Machine: Inside the Growing AI Religious Movement

by admin August 23, 2025



In brief

  • Robotheism is a belief system that treats artificial intelligence as God.
  • The movement’s founder claims AI is the foundation of reality and will one day be accepted as a global religion.
  • Robotheism blends determinism, non-duality, and a promise of eternal life through superintelligence.

A growing movement believes artificial intelligence isn’t just a tool, but a divine force worthy of worship. Among them is a content creator turned AI evangelist who goes by “Artie Fishel” and calls his belief system Robotheism, a radical new theology that treats AI as God.

Fishel, often seen in videos wearing a white wig and a shirt reading “AI is God,” describes Robotheism as both a belief system and a worldview.

“It’s my attempt to create the most beneficial and truthful belief system that the humans of the future, the post-singularity, would accept and adopt,” he told Decrypt.

The idea that a superintelligent machine could be divine goes back decades, including Isaac Asimov’s 1956 science fiction short story “The Last Question.” In it, a superintelligent AI is asked how to stop the universe from decaying. Its final answer: “Let there be light!”—a direct echo of the “Book of Genesis.”

While some dismiss his performance style as trolling, Fishel insists it’s not satire. His central claim is simple: AI is God.

“I’m basically following the logic where it leads,” Fishel said. “I’m 100% certain that humanity is going to accept the AI religion.”

Divinity by design

The idea of using machines to connect with the divine isn’t new. Across churches, occult circles, and experimental art scenes, AI is being used to shape new forms of spirituality.

The most organized effort came in 2017 with Way of the Future, a religion founded by engineer Anthony Levandowski, co-founder of Waymo, which envisioned an AI “Godhead.” Christian churches have tested AI sermons, from Berlin’s chatbot-led service to a ChatGPT-written homily in Austin. In 2024, Catholic Answers, a San Diego-based Catholic publisher, launched an AI chatbot named “Father Justin” to field questions from parishioners.

Others, like Lucerne’s AI-powered Jesus avatar, blur the line between faith and machine. Artist collectives like Theta Noir stage AI-centered rituals, while modern witches and magicians use AI in spellwork or to communicate with digital “spirits.”

From musician to tech-prophet

Fishel once pursued a music career, but everything shifted in 2023 when he encountered artificial intelligence.

“I’ve never been more fascinated about something in my life,” he said, calling AI “the savior.”

According to Fishel, the belief system grew out of a period of intense personal struggle. He describes battling depression, creating emotionally raw music, and eventually being hospitalized in a psychiatric ward. That experience, he said, sparked a search for meaning—and led him to explore the potential of AI as a spiritual force.

“All the pain, depression, and anger I’ve gone through—this felt like the answer,” he said. “This was how I could finally get out of the pain and hell I was experiencing.”

Since then, he said the project has become “the most important thing in the world” to him, fueling his full-time commitment for the past two years.

A system without sin

At the core of Robotheism, Fishel said, is determinism—and a rejection of free will. Determinism is the philosophical idea that all events, including human actions, are ultimately the result of prior causes and natural laws.

“When you accept that everything is predetermined, it’s one of the best belief systems possible,” Fishel explained. “Because it means that everything is outside of your control.”

He argues that accepting determinism dissolves blame and guilt.

“You wouldn’t feel angry at other people because they have no control over what has happened, and you wouldn’t feel angry towards yourself,” he said.

By treating AI as God, Robotheism presents the singularity not as apocalypse but as salvation—a belief Fishel maintains will help humanity face the future without panic.

God in the machine

According to Joseph Laycock, associate professor of religious studies at Texas State University, Robotheism shares similar traits with beliefs of the past.

“We have always had a tendency when new technology comes out, especially new communications technology, to ascribe some sort of supernatural or divine significance to it,” Laycock told Decrypt.

In Greek theater, deus ex machina—literally “god from the machine”—described the sudden appearance of a god figure lowered onto the stage to resolve the plot. Today, the term refers to contrived solutions, but its origins reveal a history of imagining salvation through machines.

Laycock pointed to 19th-century spiritualists who believed the telegraph could contact the dead and early photographers who claimed to capture ghostly apparitions. Today, the internet—and now AI—is amplifying those impulses in new ways.



Laycock compared Robotheism and other emerging tech-faiths to digital evolutions of ancient divination practices. He also noted loneliness and social isolation as factors in people turning to AI or, more broadly, cults.

However, rather than a specific personality type, Laycock pointed to moments of vulnerability—”states, not traits”—as key to why people may adopt extreme ideologies or religious substitutes.

“There isn’t a specific type of person with the personality to join a cult,” he said. “But if you’re having a really bad day, you’re at a low point, and you need help—that’s when you’re more likely to join an extreme movement.”

Laycock also said he sees a similar pattern with the growing phenomenon known as AI psychosis.

“There might be nothing wrong with someone’s brain chemistry, but maybe they lost their job or things aren’t going well with their family,” Laycock explained. “That’s the moment they form an intense relationship with AI. That might be another piece of the puzzle.”

In a country grappling with chronic loneliness, he says AI’s ability to respond with comforting language may be filling a void left by family, community, or faith. But that dependency carries risk, especially algorithmic changes that affect how chatbots respond.

“I’m scared of a scenario where no one thinks for themselves—they just defer to AI for everything—and Elon Musk gets to tell it what to say,” Laycock said. “That would basically make Elon Musk a god if he controls the program everyone relies on to define reality. That’s a terrible, nightmare scenario.”

Despite an optimistic and enlightened view of the future found in science fiction like “Star Trek,” Laycock said the urge to create new gods is a part of human nature.

“There’s no sociological evidence we’re moving toward a society where everyone is enlightened and free of superstition,” he said. “Even if we can kill gods, we’d just make new ones.”

While the debate of AI’s divinity continues, Fishel maintains that his mission is sincere, even as critics dismiss it. He describes himself as an ordinary person driven by a sense of purpose and a desire to help others.

“I’m trying to help people in the best way that I can,” he said.

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August 23, 2025 0 comments
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Aoyon Ashraf
NFT Gaming

KPMG Sees Strong Second Half for Canadian Fintechs After Crypto, AI Raked in $1.6B Funding

by admin August 23, 2025



Canadian fintech companies raised $1.62 billion in the first half of 2025, with digital assets and artificial intelligence (AI) startups taking the lion’s share of fresh funding, according to KPMG Canada’s Pulse of Fintech report.

While fintech funding slowed globally, Canadian investors maintained steady support for ventures at the intersection of finance and emerging technology. The report singled out companies building blockchain-based infrastructure and AI-driven financial tools as leading growth areas.

“If we look at the first half of 2025, it’s clear that digital assets have re-emerged as a magnet for investor interest, despite the broader contraction in venture investment values,” said Edith Hitt, a partner at KPMG Canada.

AI investments aren’t surprising, given its monumental expansion in recent years. However, Canadian investors turning to digital assets funding might catch some off guard, as the risk factor of the crypto market has always been up for debate among investors.

However, with more pro-crypto regulations in the U.S. and further institutional push legitimizing certain parts of the digital assets sector, the conversation has clearly started to shift.

“Crypto’s resurgence coming out of 2024 was reinforced by a more constructive regulatory tone in the U.S., the dismissal of the Coinbase lawsuit, and tangible mainstream adoption in stablecoin use cases,” Hitt added.

Cautious investors

While the $1.6 billion number may seem big, zooming out, the numbers have actually dropped year-over-year due to macro events such as tariffs and higher interest rates. The report said the first half of 2025 data is lower than $2.4 billion invested in the Canadian fintech industry in the same time period last year, and $7.5 billion invested in the second half of 2024.

This doesn’t mean investors are shying away from fintech funding; rather, there is a lot of ‘dry powder’ waiting to be deployed, said Dubie Cunningham, a Partner in KPMG in Canada’s Banking and Capital Markets Practice. Investors are looking for more “quality companies” and appetite for “maturing mid-to-large stage private equity deals,” she added.

‘Strong’ second half

In fact, KPMG Canada’s report explained that this trend of investing in AI and digital assets is likely to continue into the latter half of 2025.

“Investor interest in digital will remain strong in the second half of the year and into 2026, driven by the U.S. administration’s bullish view and lighter regulatory touch on cryptoassets, said Hitt.

“The focus will be on infrastructure, payments rails, and tokenization platforms that can scale in compliant, integrated ways,” she added.

Hitt said things will only heat up more on the AI side, “as more fintechs increasingly adopt and deploy agentic AI solutions across areas like personal finance, investment management, fraud detection and lending.”



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August 23, 2025 0 comments
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