-
Decentralized Capital Markets Research & Articles: www.shoal.gg Twitter: https://twitter.com/Shoalresearch TG link: https://t.me/shoalresearch Website: Shoalresearch.xyz
Stripe Acquires Privy: Building the Onchain Banking Stack
> With Bridge, Privy, and its existing infrastructure, Stripe is assembling a borderless financial OS: one that spans wallets, payments, identity, and compliance.
> Privy enables embedded self-custody wallets
> Bridge provides compliant fiat on/off ramps for customers from 100+ countries
> Together, Stripe is building a “Banking-as-a-Service 2.0” built for global scale, and solely based on programmable, permissionless financial infrastructure.
> Stripe is giving developers the tools to build on-chain banks via API.👇
Source: https://x.com/chuk_xyz/status/1933892516086002043?s=46&t=ywALktyM5ZCyt-zigN5Big
0x_Abdul: Thoughts on Bybit Going Onchain via Byreal
> Bybit’s onchain move signals CEXes are now embracing DeFi rails to stay relevant as liquidity, discovery, and user behavior go fully onchain. CEXes are here to expand the current onchain market.
> Major exchanges (Coinbase, Binance, OKX) are betting on same thing.
> For DeFi users and builders, it means better execution & UX, more competition, and a growing market.
> Bybit is launching its dex with vaults and liquidity plugged in from bybit (via RFQs).
> Comes with a token launchpad, and performant infra from Solana to power it.
Source: https://twitter.com/0x_Abdul/status/1934229335323324617
Byreal: A New Onchain Liquidity Network, Backed by Bybit and Powered by Solana
> Byreal is a new liquidity layer built for real assets. It combines CEX-grade liquidity with DeFi-native transparency (CEX + DEX Synergy).
> Testnet coming on Jun 30. Mainnet by Q3 2025.
Source: https://x.com/byreal_io/status/1934085435212308789?s=46&t=2q9OLMlaobNlHLewOXT4uA
OpenAI Rolls Out o3-pro Model to Pro users in ChatGPT and API, Replacing OpenAI o1-pro.
> Reviewers consistently prefer OpenAI o3-pro over o3 for its improved performance in science, education, programming, data analysis, and writing.
> Also rated it higher for its comprehensiveness, clarity, instruction-following, and accuracy👇
Source: https://x.com/OpenAI/status/1932530409684005048
Israel’s Operation in Iran to Last Weeks with ‘Implicit U.S. Approval’
Source: https://x.com/sentdefender/status/1934099167863050385
Different Models of zkTLS
Source: https://x.com/0xSerBito/status/1933529031363686735
Fidelity Files S-1 For Solana ETF
Source: https://www.sec.gov/Archives/edgar/data/2063380/000119312525140821/d941170ds1.htm
Sui Ecosystem Map
Source: https://x.com/phantom/status/1933606248718696644
Iran Launches Ballistic Missiles Towards Israel
Source: https://x.com/sentdefender/status/1933586928533680573?s=52&t=txFAbiSPTdLLDlAYj9X_AA
Insider Leak Suspected as Polymarket Trader Snaps Up Shares Ahead of Israeli Strikes
> Polymarket contract on Israeli strike surged hours before the news broke.
> Trader made $134K, buying heavily ~12 hours ahead of the missile strike.
> Only traded 1 market, after the win, withdrew the money and left
> The same pattern has now happened 3x in a row for Israeli strikes
> Evidence suggests a possible intel leak, same behavior, new accounts each time.
Source: https://x.com/domahhhh/status/1933547513790767550?s=52&t=txFAbiSPTdLLDlAYj9X_AA
Bybit Launches In-App Trading for Stocks, Gold, Forex & Indices
Source: https://x.com/benbybit/status/1933514951546843370
June 12th Rollup
🐚 Research and Ideation 💡
- Decentralised Co: Asset Wrapped Equities
- Yieldbasis: Eliminating Impermanent Loss Through Leveraged Liquidity
- Blockworks: Protocols Leveraging Hyperliquid’s Programmable Finance Primitives
- kobeissiletter: Inflation Concerns Rise as Oil Nears $74/barrel
- Lookonchain: James Wynn Liquidated Again, His BTC and PEPE Longs All Liquidated
- a16z: In Consumer AI, Momentum Is the Moat
- 0xjacobzhao: The Holy Grail of Crypto AI: Frontier Exploration on Decentralized Training
- Eurostablewatch: Why Is Everyone Complaining About MiCA?
🐚 News 📕
- Israeli Air Force strikes the Iranian capital Tehran
- Israeli Senior Officials: Israel is preparing for “days of battle”
- US Stock Market Futures Fall Sharply After Loud Explosions are Heard in Tehran
🐚 Project Updates 🔔
- Nillion Introduces “ the Nillion Enterprise Cluster”
- USDC is Now Available on the XRP Ledger
- Coinbase Introduces ‘One Card’
- Coinbase to Launch Perpetual Futures in US
- Shopify x Coinbase: Integrating USDC on Base in Checkout for all Shopify Stores.
Why Is Everyone Complaining About MiCA?
The post argues that Europe’s MiCA stablecoin rules arrived too late to shape the stablecoin markets, locking domestic stablecoin startups into costly rules while global leaders like Tether and Circle thrive
> It calls for Europe to develop a regulatory processes that move with markets rather than behind them.
Source: https://www.eurostablewatch.com/p/why-is-everyone-complaining-about
a16z: In Consumer AI, Momentum Is the Moat
In consumer AI, moats are nearly nonexistent as the foundational models and infrastructure shifts quickly.
It’s often the case that whoever builds first, iterates fastest, seize mindshare, and distributes best wins.
This post highlights some distribution tactics that includes:
> Social experiments that go hard
> Go direct: Launch videos as distribution strategy
> Co-opt insider influencers
> The hackathon, reborn as a public performance
> AI “starter packs” and alliances
> Build in public👇
Source: https://a16z.com/momentum-as-ai-moat/
James Wynn Liquidated Again, Even with a New Wallet, His BTC and PEPE Longs All Liquidated
Source: https://x.com/lookonchain/status/1933355954541899791?s=52&t=txFAbiSPTdLLDlAYj9X_AA
CEXes Coming On-Chain: Coinbase, Binance & Bybit Compared
Source: https://x.com/ahboyash/status/1934235057910403264
June 14th Rollup
🐚 Research and Ideation 💡
- 0xSerBito: Different Models of zkTLS
- Messari: A Valuation of $PUMP
- Latent Space: God is Hungry for Context: First Thoughts on o3 pro
🐚 News 📕
- Trump Denies U.S. Role in Iran Strike, Warns of Massive Retaliation if Attacked
🐚 Project Updates 🔔
- OpenAI Rolls Out o3-pro Model
God is Hungry for Context: First Thoughts on o3 pro
> o3 Pro excels with deep context, outperforming o3 when used as a focused planner or analyst.
> It thrives on long inputs, generating specific, well rooted plan that can change decision-making
> Tool use and environmental awareness are major upgrades
> it knows when to ask, what tools to use, and what it doesn't know.
> Its shortcomings remain in direct execution and low-context tasks.
Source: https://www.latent.space/p/o3-pro
Trump Denies U.S. Role in Iran Strike, Warns of Massive Retaliation if Attacked
Source: https://x.com/sentdefender/status/1934109648371548523
Messari: A Valuation of $PUMP
> The model values PUMP at a $7B FDV based on revenue projections from Pumpfun and PumpSwap, projecting ~$675M revenue in two years.
> However, the valuation hinges on whether tokenholders will capture enough of the value rather than insiders👇
https://messari.io/report/a-valuation-of-usdpump
Source: https://x.com/defi_monk/status/1933535188610338986
June 13th Rollup
🐚 Research and Ideation 💡
- Castle Labs: Revenue - The Missing Piece for Crypto PMF
- Pine Analytics: 53M $JUP Have Been Bought Back for $27M Over the Past Two Months
- domahhhh: Insider Leak Suspected as Polymarket Trader Snaps Up Shares Ahead of Israeli Strikes
🐚 News 📕
- SharpLink Gaming Acquires 176,271 ETH for $463M
- Walmart and Amazon Are Exploring Issuing Their Own Stablecoins: WSJ
- Iran Launches Ballistic Missiles Towards Israel
- Fidelity Files S-1 For Solana ETF
🐚 Project Updates 🔔
- Bybit Launches In-App Trading for Stocks, Gold, Forex & Indices
- Sui Ecosystem Map
53M $JUP Have Been Bought Back for $27M Over the Past Two Months
> The average JUP buyback price is around $0.51, and the current token price is about 15% below that
Source: https://x.com/PineAnalytics/status/1933313819775824105
Smoke Rises Over Tel Aviv After Possible Ballistic Missile Impact
Source: https://x.com/sentdefender/status/1933589961904705916
Israeli Military Briefing Reportedly Cut Short Amid Incoming Iranian Attack on Central Israel
Source: https://x.com/DeItaone/status/1933582516684009883
Castle Labs: Revenue - The Missing Piece for Crypto PMF
> Exploring how crypto industry can enhance its business models and evolve towards developing sustainable products with genuine and rewarding user demand.
> How a cultural shift towards revenue-generating apps might be crypto’s next phase of adoption👇
Source: https://twitter.com/castle_labs/status/1933189607392174330?s=12&t=2q9OLMlaobNlHLewOXT4uA
Walmart and Amazon Are Exploring Issuing Their Own Stablecoins
Source: https://www.wsj.com/finance/banking/walmart-amazon-stablecoin-07de2fdd
SharpLink Gaming Has Acquired 176,271 ETH for $463M, At an Average Cost of $2,626 Per ETH
Now the Largest Publicly-Traded ETH Holder
Source: investors.sharplink.com/sharplink-gaming-acquires-176271-eth-for-463-million-officially-becoming-largest-publicly-traded-eth-holder/
The Holy Grail of Crypto AI: Frontier Exploration on Decentralized Training
> The article provides a comprehensive overview of AI training paradigms including centralized training, distributed training, federated learning, and decentralized training, analyzing their technical architectures and trust/incentive models
> Also explore the boundaries, opportunities, and realistic paths for Decentralized Training, while also analyzing its pioneering projects👇
Source: https://0xjacobzhao.substack.com/p/the-holy-grail-of-crypto-ai-frontier
US stock Market Futures Fall Sharply After Loud Explosions are Heard in Tehran
Source: https://x.com/KobeissiLetter/status/1933313883059691964