Proof of Reserves: What an Attestation Proves
What proof of reserves actually demonstrates: assets versus liabilities, Merkle tree inclusion, the omitted-liability problem and…
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Newsroom
Independent reporting from our editorial desk. Nobody paid for anything on this page — sponsored content and press releases are labelled and kept at /press-releases/.
What Crypto Market Makers Actually Do
How crypto market makers work: spreads, inventory risk, retainer versus loan-and-option deals, and why the contract structure…
How Crypto Exchange Listings Actually Happen
What actually happens in a crypto exchange listing: the review process, what exchanges assess, listing fees, and why…
Bitcoin and Ethereum: Two Development Cultures
How Bitcoin and Ethereum differ in protocol governance: change processes, client diversity, upgrade cadence and the trade-offs…
Reading On-Chain Data Without Fooling Yourself
Why on-chain metrics mislead: addresses are not users, volume is not economic activity, and the clustering assumptions behind…
How Crypto Custody Actually Works
How crypto custody works: omnibus versus segregated accounts, qualified custodians, multi-party computation, and what actually…
Oracle Design and Its Failure Modes
How DeFi oracles work and where they break: spot price manipulation, TWAP trade-offs, staleness, and why liquidity depth is the…
How DeFi Liquidations Actually Work
How DeFi liquidations work: health factors, liquidation bonuses, keeper incentives, and the conditions under which the mechanism…
Stablecoin Redemption Paths Under Stress
Why stablecoin risk lives in the redemption path rather than the peg: access tiers, minimum sizes, settlement timing and…
The Governance Gap: Measuring DAO Participation
How to measure DAO governance honestly: decisive voter counts, delegate concentration, untested quorums and the proposals that…
DAO Treasury Management, Honestly Assessed
How DAO treasuries actually work: native-token concentration, runway measured properly, the reflexivity problem, and the signals…
Where NFTs Found Real Utility After the Wave
Where NFTs are doing real work after the speculative wave: ticketing, credentials, creator royalties and the cases where they…