It’s All About Crypto Blog
The Decentralization Myth: What a New U.S. Bill Reveals About Crypto
The U.S. Senate Committee on Agriculture (surprisingly!) has introduced a draft bill on digital commodity intermediaries that aims to define the structure of the crypto market and the principles for regulating it. There are plenty of interesting details in the document (for example, how it approaches the regulation of memecoins). But I want to focus on...
Bitcoin's Biggest Problem Isn't Volatility - It's Trust
A year ago, one of the clients of rabbit.io made several BTC -> PAX Gold swaps involving very large amounts. Or maybe it was several clients - I honestly do not know, we do not collect personal data from people who use our service. I only noticed that there were several large swaps, and they happened right around the time when Bitcoin hit yet...
How Do You Prove That Your Crypto Is Lawful?
Governments have come up with plenty of ways to put obstacles in the way of crypto enthusiasts and make cryptocurrencies harder to use. * In some countries, any crypto transactions are outright banned. * In others, critically important operations are allowed only through licensed intermediaries (custodial wallets). * Elsewhere, crypto transactions are hit with excessive taxes. Today, a court...
Bitcoin Below 1 ZH/s: No AI Threat Here
Today, several crypto media outlets, following a statement by StandardHash CEO Leon Lyu, reported that Bitcoin's network hashrate has fallen below 1 ZH/s for the first time since mid-September. The news was immediately linked to mining power allegedly being redirected to AI workloads. At first glance, this may look like a threat to Bitcoin from the AI industry. But is...
AI Tokens 2.0: From Empty Promises to Real Compute
In January 2026, the crypto market is once again obsessed with artificial intelligence. But if you think we are simply back in 2024, you are mistaken. The rules have changed. Naive faith in "agents that will change the world" has been replaced by something far more cynical - and far more pragmatic. While some traders are still burying portfolios...
What Happened to Retail Stablecoin Redemption at Paxos?
I used to think of Paxos as a special kind of stablecoin issuer - one that others should look up to. The reason was simple: Paxos consistently positioned its stablecoins as direct equivalents of US dollars. Anyone could sign up on the Paxos website, deposit stablecoins and receive actual dollars in return. The Internet Archive preserves a snapshot of a page where Paxos explained...
Kaito’s Crisis and the One Way Paid Content on X Still Makes Sense
Yesterday, it was announced that X had updated its API policy for developers. Applications that pay users for posting were cut off from the API. About a year ago, I wrote an article about one such project: Kaito. It rewards content creators, and the main - and almost the only - platform taken into account when calculating rewards until yesterday was X itself. But it...
Banks Want to Ban Stablecoins Because They Work Too Well
Brian Moynihan, the CEO of Bank of America, has said that allowing non-bank companies to pay interest on stablecoins could trigger an outflow of up to $6 trillion from the US banking system - around 30-35% of all deposits. That is why the US banking sector is pushing for a ban on passive income from stablecoins. I find arguments like this surprising...
On Market Caps and Network Metrics
The official Solana account on X published a sarcastic tweet claiming that Starknet (a ZK-rollup for the Ethereum blockchain) has only eight daily active users and ten transactions, while its market capitalization is around $1 billion. The author of the tweet suggests that this valuation should be sent to zero. The Solana's tweet is written as if the market capitalization of the STRK token were the capitalization...
Could Ethereum Collapse Under a Price Crash?
The Bank of Italy has published an article about a potential infrastructure risk affecting Ethereum. The paper focuses specifically on Ethereum, but the vulnerability it describes could, in principle, apply to other blockchains as well. The author models a scenario in which the price of ETH starts to fall sharply, regardless of the underlying reasons. In such a...
