Aave Founder: New Tokenomics Will Include AAVE Buybacks, Staking, and Burns

According to YuEmber Monitoring, a wallet address went long on SOXL twice and was liquidated both times over four hours from last night to early this morning, yet continued opening long positions. At 11 PM last night, the address opened a long position worth $5.42 million in SOXL, which was liquidated less than a minute later, resulting in a loss of around $316,000. At 1 AM today, it opened another long position worth $4.97 million in SOXL, liquidated two hours later, with a loss of roughly $270,000. Just two minutes after the second liquidation, the address opened a new long position worth $2.22 million in SOXL, which has not been liquidated as of now.

DFINITY founder Dominic Williams has published an accusation alleging that NEAR Intents’ chain abstraction feature unauthorizedly uses DFINITY’s threshold ECDSA signature technology, which is exclusively licensed for the Internet Computer. He noted the related work was advanced by an individual who was dismissed by DFINITY in 2021. Citing academic papers and GitHub records, Williams said NEAR has been using the algorithm for roughly two and a half years, and is now attempting to switch to a slower scheme requiring three rounds of signature interactions. He questioned the project’s decentralization and user security. Williams added that the matter involves legal issues and needs resolution, though his article did not disclose any lawsuits filed.

a16z Crypto general partner Ali Yahya announced in a post that he will leave the firm to launch his own company. Yahya noted that while the venture is still in its early stages, his current focus is on building infrastructure that enables an "open software ecosystem". Earlier reports revealed that a16z Crypto was recently rebranded as a16z Frontier, with its investment scope expanded to cover frontier startups.

According to the New York Post, a source familiar with the matter disclosed that Matthew Modabber, who has served as Chief Marketing Officer (CMO) of Polymarket since January 2024, has been dismissed. The termination follows an internal investigation the company launched into a series of high-profile incidents that raised concerns among its investors. One key incident involves Modabber’s team being accused of creating fake web pages to promote staged videos showing users profiting from fraudulent trades. This scheme was exposed in a June Wall Street Journal report, which subsequently triggered an investigation by the U.S. Commodity Futures Trading Commission (CFTC). The probe remains ongoing, and no violations have been identified so far. Insiders noted that Modabber is a close confidant of Coplan, Polymarket’s 28-year-old CEO. During his executive tenure, Modabber often made impulsive decisions that led to public relations crises for the company. Polymarket is currently finalizing Modabber’s separation agreement, with both parties maintaining mutual respect throughout the process.

Tom Lee, chairman of Ethereum treasury firm BitMine, told CNBC in an interview today that the market is in a sell-off, with tech and semiconductor sectors under heavy pressure. Defensive sectors have instead strengthened, reflecting clear risk-averse traits in the market. Lee added that the market is currently overly pessimistic, and his technical analyst Mark Newton believes tech stocks have basically hit their support levels.

JPMorgan analyst Nikolaos Panigirtzoglou said in a report that recent actions by U.S. regulators have, to some extent, offset the negative impact of the Senate’s failure to advance the Clarity Act, though political and legal risks persist. The report notes that measures led by agencies including the SEC, CFTC, and OCC can encourage institutional participation in the crypto ecosystem in the short term, but only legislation can establish a more durable regulatory framework. Until a comprehensive market structure bill is passed, political and legal risk premiums will remain elevated. The crypto industry currently relies on a series of fragmented regulatory measures, which could be rolled back as soon as two years from now if Democrats win the White House. The analyst assesses that the Clarity Act is unlikely to pass this year and may be delayed until 2027. Crypto market sentiment remains relatively upbeat, with the market focused on what steps the SEC, CFTC, and OCC can take to make it easier for institutions to enter the crypto space. (The Block)