On-chain finance often measures decentralization through custody, governance, and permissionless execution. However, another dependency sits beneath many protocols: they rely on external systems to determine what assets are worth.
The premium that funded two years of accumulation has vanished across much of the sector. Strategy built the most complete version of the model reserves, a real…
Highlights: Crypto hacks caused $2.87B in losses across nearly 150 incidents during 2025. Bybit’s $1.46B breach accounted for 51% of all crypto hack losses in 2025.
Web3 often presents fragmentation as the price of innovation. Each blockchain optimizes for a different goal, from speed to security or specialized execution.