Dora Noda
Software Engineer
2345 posts · View all authors
Tokenized US Treasuries Hit $14B: The 37x Surge That Made T-Bills RWA's First Real Product
Tokenized US Treasuries grew 37x in three years to $14B, becoming RWA's first true product-market fit. Here's what made T-Bills win on-chain — and which vertical breaks through next.
When AI Agents Own Assets: Inside the $479M Legal Personhood Vacuum
Virtuals Protocol's $479M Agentic GDP and Drift's $286M exploit have made one question urgent: when an autonomous AI agent loses user funds, who pays? A walk through the five competing liability frameworks.
DeFi's $606M April: Why 2026's Worst Hack Month Isn't About Smart Contracts
April 2026 saw $606M stolen from DeFi protocols in 18 days. Kelp DAO, Drift, and Resolv Labs were drained not by smart contract bugs but by configuration changes and operational seams that audits don't catch.
Binance Puts Tokenized SpaceX, OpenAI, and Anthropic in 270 Million Pockets
Binance's April 2026 Pre-IPO launch puts tokenized SpaceX, OpenAI, and Anthropic exposure in the Web3 Wallet of 270 million users. Inside the SPV structure, the SEC risk, and why distribution — not product — is the real story.
Bittensor's SN3 Bets the Network on a Trillion-Parameter Training Run
How a 72B-parameter milestone, a $900M founder exit, and a Grayscale ETF deadline collide as Bittensor's Teutonic subnet attempts a 1-trillion-parameter decentralized LLM training run in May 2026.
Bluesky's $100M Series B and the Quiet Bet on AT Protocol as Identity Infrastructure
Bluesky's newly disclosed $100M Series B led by Bain Capital Crypto, paired with a WordPress veteran as CEO, signals that AT Protocol is being built as identity infrastructure for both consumer social and the agent economy.
BtcTurk's Third Hack in 19 Months: The Emerging-Market CEX Trust Tax
Three breaches, 19 months, and more than $140M gone. BtcTurk's January 2026 hack exposes the trust tax emerging-market crypto users pay for local fiat rails — and what it signals for the $311B stablecoin era.
Coinbase's Agentic.Market: The First App Store Where AI Agents Buy From Other Agents
Coinbase launched Agentic.Market on April 20, 2026 — a permissionless directory where AI agents discover and pay for services in USDC over HTTP. 165M transactions, $50M volume, 85% settled on Base.
Ethereum's Paradox Quarter: 200 Million Transactions, a Flat ETH Price, and the Value-Accrual Crisis
Ethereum processed a record 200.4 million transactions in Q1 2026, yet ETH traded flat. Here's why scaling success broke the burn engine, and what Glamsterdam needs to deliver to restore value capture.