RektDetective

Recently, the crypto world has been discussing the threat of quantum computers to Bitcoin, and I’ve looked into the discussions and found that many people are scared.
The core panic point is actually quite simple: if quantum computers can truly crack Bitcoin’s elliptic curve signature system, then early wallets from the Satoshi era would be exposed to risk. It’s said that 1.7 million Bitcoins are stored in addresses vulnerable to quantum attacks, which at current prices amounts to about $145 billion. That indeed sounds like a nuclear-level negative event.
But here’s an interesting point. If we

Just saw Tesla’s Q1 financial report, and still holding onto those 11,509 Bitcoins without making any moves, though the books show a pretty painful loss. Bitcoin fell from $90k at the start of the year to $68k by the end of March, forcing Tesla to recognize a $173 million impairment loss.
Interestingly, Tesla’s operating performance actually isn’t that bad. In Q1, revenue was $22.39 billion, slightly below expectations, but earnings per share of $0.41 came in above market forecasts—so overall, there are still bright spots. It’s just that the paper loss on Bitcoin really held things back.
Looki

I’ve been thinking about why Loot has managed to stir up such a big wave in the NFT space.
If you want to say that profile-picture NFTs have already been played out, that’s not completely wrong. But honestly, from CryptoPunk to Bored Apes to Penguins, the ways people play these kinds of projects have started to feel a bit repetitive. Then, out of nowhere, a bunch of TXT files with a black background and white text appeared—instantly grabbing everyone’s attention. What’s interesting is that more and more people are starting to feel how fast this space moves: one moment they’re researching DEXs,

Recently, while reviewing the history of Bitcoin, I was reminded of the legendary pizza story. On May 22, 2010, a programmer named Laszlo exchanged 10k bitcoins for two pizzas. This transaction was later called "Bitcoin Pizza Day," becoming one of the most iconic memes in the cryptocurrency community.
The background at that time was actually quite interesting. Bitcoin had just been created, and no one considered it a real payment tool. When Laszlo posted a bounty on a forum, those 10k bitcoins were worth about $30. He even worried for a moment that no one would respond to his proposal. But fou

I just saw a set of data, and it was a bit scary. On Wednesday, the trading volume of S&P 500 call options directly exploded to $2.6 trillion—this is almost equal to the total market capitalization of the entire cryptocurrency market. Honestly, it’s a little absurd.
To put it simply, in today’s U.S. stock market, most people are using call options to bet that the stock market will keep rising. This one-sided bullish sentiment has already spilled over onto Bitcoin. Since April, the S&P 500 and Nasdaq have both been surging, and the spillover effect from this speculative heat has pushed BTC from

Recently, US economic data has been released one after another, and market sentiment is a bit unstable.
First, the GDP performance exceeded expectations, and the unemployment rate wasn't as bad as expected; both signals indicate that the economy is still doing well, which dampens expectations for interest rate cuts.
The US stock market isn't afraid, with the S&P 500 reaching new highs, but the crypto market has been more volatile, with BTC barely holding at 112k USD, and ETH fluctuating around 4,500 USD.
What's more interesting is that SOL has been performing well lately because the US D

Recent changes in the NFT market are quite interesting. Not long after the New Year, this track that had been sentenced to death for years suddenly came back to life. Both price increases and trading volume are rising again, suggesting that people are still paying attention.
To be honest, this uptick is a bit strange. According to data, in the past week the total market capitalization of the NFT market increased by more than $220 million. Many projects recorded gains in the three digits or even four digits. For long-time players who have been stuck in positions for several years, seeing a gree

I recently noticed a major development in the US stablecoin legislation, and I feel that the impact of this matter on the entire crypto industry has been seriously underestimated.
Last week, Republican and Democratic senators finally agreed on a compromise for the most controversial stablecoin yield provisions in the Digital Asset Market Clarity Act. This struggle, which has been going on since the beginning of this year, has involved the White House, banking lobbying groups, and the entire crypto industry—now, at last, it has reached a result.
So what is the core of the new proposal? Simply p

I just saw this news, and I still find it quite shocking. A few years ago, Bob Lee was stabbed and killed in San Francisco, and at that time, the crypto community was going through a rather heavy period. Bob Lee was the founder of Cash App and later served as the product director at MobileCoin, and he still had a certain influence in the industry.
At that time, the police said he was stabbed on the street around 2 a.m., and he died from his injuries after being taken to the hospital; he was only 43 years old. Ultimately, MobileCoin founder Johua Goldbard confirmed this news to the media. Even

Recently studying DeFi security issues, I found that flash loans are truly a double-edged sword.
Speaking of flash loans, they are actually a relatively new concept in decentralized finance. After Aave first launched them in early 2020, more and more protocols began to support them. At first glance, flash loans offer arbitrage opportunities and rapid trading methods that traditional finance cannot provide, which sounds very promising.
But the key problem is that this unsecured, no-credit-check lending method has also become a breeding ground for attackers. I’ve seen several classic attack case

Recently, I’ve found that many people don’t really understand the concept of liquidity. The crypto community talks about it every day, but when it comes time to explain it, they get stuck. I also spent a lot of time figuring out the logic behind it, so today I’ll talk about it in the most straightforward way.
Let’s start with everyday examples. If you want to sell a house quickly, would you choose a village house in Hong Kong or a large residential estate? Definitely the estate. Why? Because in an estate, each unit is pretty similar, transaction prices are transparent, there are lots of buyers

Yesterday, the market really blew up—liquidations across the entire network exceeded $1.1 billion, the worst time in the past few months. I looked at the on-chain data: within just 24 hours, nearly 250,000 traders were forced to liquidate, and liquidations in long positions alone wiped out more than $1 billion.
What’s most shocking is that someone was liquidated for $200 million on BTC futures on a major exchange. How large that order was is easy to imagine. Although the exchange won’t publicly reveal who placed the trade, liquidations on this scale are still quite rare. It seems that recently

The New York Times has made another big move. Recently, they released a ten-thousand-word investigation pointing the finger at Blockstream CEO Adam Back, claiming he is the strongest candidate for Satoshi Nakamoto. As a result, guess what happened? Adam Back immediately came out to deny it, and the community exploded.
Speaking of Satoshi Nakamoto’s identity, this mystery has lasted for 17 years. From cryptographers to entrepreneurs, various candidates have taken turns, but there has never been conclusive evidence. This time, the NYT investigation indeed put in effort; reporter John Carreyrou s

Recently, I’ve again seen SBF issue a statement from prison—this guy really refuses to admit defeat. In his 15-page statement, he claims that FTX and Alameda were not insolvent at all, and says he was “brought down” by bankruptcy lawyers and the new CEO.
According to SBF, when the crisis broke out in November 2022, FTX still had $25 billion in assets and an $16 billion equity value—enough to cover customer withdrawals. He called this a “liquidity crisis” rather than bankruptcy, implying that as long as there was time, it could be resolved by the end of the month. But after external legal advis

Just saw a major on-chain movement, a new wallet transferred out 25k ETH from BitGo, which was worth about $57.13 million at the time. According to monitoring data, this transfer appears to be operated by Bitmine. As a major custodian, large transfers like this are quite common for BitGo, but every time I see ETH movements of this scale, I still pay attention.
It reminds me that BitGo often handles institutional-level asset custody, and large transfers by mining companies like Bitmine through BitGo are normal procedures. Moving 25k ETH at this level is considered a significant operation within

I recently saw a weekly report from a16z, and there was a perspective that really hit home—technology is not only consuming the world, but more importantly, it is breaking all our existing models of the economy.
Let me start with a data point that will shock you. The combined market value of the top ten publicly traded companies worldwide has already surpassed the total GDP of all countries outside the G7 except the United States. If you exclude Saudi Aramco (although that company is quite tech-oriented too), the conclusion remains the same. This is not some vague concept; it is a tangible eco

Just saw Hut 8’s Q1 financial report, and there are some interesting details worth paying attention to.
First, revenue is indeed growing: this quarter it reached $71.01 million, more than doubling compared with the same period last year. The main drivers come from ASIC Compute, AI Cloud, and cloud services. It’s clear that their efforts to pivot toward AI data centers are starting to show results.
At the same time, losses have also widened. Net losses came in at $253 million, with the biggest portion being unrealized digital asset losses of about $296 million. This is actually quite common in

Recently, I noticed a pretty interesting phenomenon—everyone is worried about a repeat of the oil crisis, with soaring oil prices leading to an economic collapse. But in reality, what we should really be afraid of might be completely different.
A while ago, I saw economist Steve Hanke from Johns Hopkins University discussing this topic, and his perspective surprised me a bit. He’s right—compared to the 1978-1979 oil crisis, the current risks are actually lower. Why? Because the global economic structure has changed over the past decades—Iran’s oil production has dropped from 8.5% of the world’

Recently, I noticed a pretty interesting topic. The research team at the Bank for International Settlements released a report mentioning that the CDBC approach has significant potential for the global cross-border payment system.
Honestly, cross-border payments have always been a pain point. Traditional banking systems are inefficient and costly, and there are many barriers to cooperation between countries. BIS researchers pointed out that the emergence of central bank digital currencies, especially convertible CDBCs, opens a window to improve this situation.
But here’s a key point—having CDBC

Recently, I’ve been keeping an eye on next week’s market rhythm, and there are definitely a few things worth noting. The US-Iran situation is still at a standoff. Trump’s side says the conditions proposed by Iran are unacceptable, but many traders are speculating whether this is just a standard negotiation tactic, and hopes for peace haven’t completely disappeared yet.
However, what can truly shake the market is the economic data that will be released soon. Next Friday’s non-farm payroll report is the main event. The forecast is that it will add 60k new jobs, wage growth may accelerate, and th