Explained page 4

APY tells you nothing about durability. Sorting a yield into what actually funds it is the first real test.

The 2025 GENIUS Act stops stablecoin issuers from paying yield directly. It says far less about exchanges and affiliates — and that gap is the whole fight now playing out over the Clarity Act.

A seed phrase is the wallet, not a password to it. Two documented cases — one from 2022, one from January 2026 — show how a phrase gets stolen, and a widely cited estimate shows how much more often people simply lose one.

The figure that runs across every market dashboard each evening measures net share creation and redemption, not gross Bitcoin trading. Here is what it does and doesn't show.

A funding rate is the periodic payment that keeps a perpetual futures contract's price tethered to spot. When it goes negative, shorts are paying longs — not proof the market is crashing.

Vivek Raman, CEO of the Ethereum-adoption firm Etherealize, says Wall Street's rush into gated blockchains is 'consortium chain 2.0.' The mechanism he's describing is checkable. His prediction about how it ends is not - and he runs a company whose success depends on the answer.

A firmware bug fed the wallet's random-number generator too little entropy at the moment a seed was created. Because the flaw lived in that one step, an air-gapped device offered no protection — and a software wallet flagged separately by researchers shows the same weakness can turn up wherever a key is generated, hardware or not.

A $4.3 billion settlement, a monitorship whose status nobody has confirmed in months, and a reserves report that is self-verified, not audited. Here is what each of those actually means.

An attestation, a full audit and an on-chain proof-of-reserves feed each verify something different about a stablecoin's backing. Tether's August 2026 KPMG opinion shows exactly where that line falls.

Kraken's parent company says adjusted revenue rose 17% even as trading volume fell. Two trade outlets reported the release; we don't hold it. Here's what's corroborated, what's single-sourced, and why none of it is audited.

Two newsrooms independently relay the Financial Times's account that JPMorgan ended the relationship and Polymarket found a new lender. The rest of the story - the CFTC backstory, the IPO angling, even the date of one outlet's own report - rests on a single account.

Since July 2025, a redemption can move coins out of a fund without forcing a spot sale. Here is what changed, and what the flow data still can't show.

A trust charter is not a bank charter with deposit insurance. Here is what the OCC's letter says World Liberty Trust Company can and cannot do, and what it left unresolved.

KPMG gave an unqualified opinion on one entity's books as of one date. Six months later, Tether's own attestation showed the buffer had fallen by 40%.

It shows an exchange or issuer controlled certain assets on a certain date. It does not show the entity can cover what it owes, that its reserves are free of legal claims, or that it would survive a run.