🧐 Investment Report: Lighter. Link.

Lighter just crushed $68M at $1.5B valuation from Peter Thiel's Founders Fund and !Robinhood - now sitting on $1.17B TVL and $279.5B monthly volume

But beneath the hype lies a fatal flaw: the revenue model doesn't exist. Here's the honest breakdown

Author: Green But Red

#article


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Daily Dose of News 🎺
November 21, Friday


♟ General:

• Notional open interest in BTC perps back at yearly highs. Link.

• Citi Completes Landmark Fiat-to-Digital Currency Payment Settlement Workflow Trial with Swift. Link.

🔔 Product updates:

• Tether Invests in Parfin to Accelerate Institutional Use Cases of Digital Assets in LATAM. Link.

🖥 Release:

• IOPn Testnet New Project is Live. Link.

🛍 Incentives:

• Mint Rainbow’s New App Icon NFT. Link.

• Just minted the Solana Game Pass: Season 1 NFT. Link.

🍜 M&A:

• Coinbase Ventures has acquired VECTOR. Link.

💰 Fundraising:

• Kalshi secures $1 billion in latest funding at $11 billion valuation. Link.

• ZenGo Strategic Round. Link.

• Mu Digital $1.5M Pre-Seed Round. Link.

• RateX $7M Strategic Round. Link.


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How top crypto companies with reserves are faring:

• Strategy is still in good profit - it would turn negative if BTC falls below $74,433

• Bitmine is already in the red - they bought their ETH at around $4,010

• Forward Industries are the biggest losers - they purchased SOL at an average price of $232


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👛 Top funding rounds of the week:

Kalshi grabbed headlines with a $1B raise, signaling major momentum for regulated prediction markets.

Other notable deals include RateX ($7M, synthetic yield), HelloTrade ($4.6M, leveraged trading platform), ZENi ($1.5M, AI data layer), and Mu Digital ($1.5M, RWA protocol)!


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Your strategy is live. The market does something unexpected

A contract fails. Liquidity dries up

The Almanak Debugger agent is the alarm system - it identifies failures, traces root causes, and flags issues before they cascade into losses

Real-time diagnosis. Automated fixes. The agent that saves your portfolio at 3 AM


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Why is everyone so afraid?

What happened, for example, that makes the situation different from last month?

Share your opinion in the comments on X.


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☕️ Espresso as an Eigencloud AVS means Ethereum validators earn additional yield by restaking in Espresso consensus!

Genius mechanic: Espresso inherits Ethereum's economic security, while Ethereum validators get paid to improve rollup composability

Win-win infrastructure 🤝


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Daily Dose of News 📺
November 24, Monday


♟ General:

• Digital asset investment products saw $1.94bn of outflows last week, bringing the four-week total to $4.92bn, the third largest outflow run since 2018. Link.

• Grayscale's DOGE, XRP ETFs to go live on NYSE Monday. Link.

🔔 Product updates:

• South Korea's largest exchange Upbit to pursue Nasdaq IPO after merger. Link.

🖥 Release:

• Monad mainnet launches with 50.6% of total MON token supply initially locked. Link.

🗳 Treasures:

• BitMine's ETH holdings reached 3.63 million (3% of supply) after acquiring 69,822 tokens over the past week. Link.

🛍 Incentives:

• Monad $MON Airdrop Distributed. Link.

• Talus Airdrop Registration is Live. Link.

• Worldcoin: Claim Your "Personhood" Badge. Link.

• Self Protocol - new airdrop. Link.

• Opinion Week 4 Points just dropped. Link.

💰 Fundraising:

• Revolut Funding Round. Link.


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Integra is building a L1 blockchain designed specifically for real estate, aiming to unlock $400 trillion in global real-world assets

By enabling programmable ownership, fractionalization, and compliance across jurisdictions, Integra tackles the slow, fragmented nature of real estate transactions with blockchain efficiency and innovation


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GM, fam!

Remember 2020?


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Friends, did anyone here participate?

🎉 In any case, congratulations to everyone involved!

Thanks to dYdX and my family – Stacy & Warhol 🫡


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Before anything goes to market, the Almanak Reviewer agent audits every line:

Code quality, logic consistency, security vulnerabilities, parameter reasonableness

It's your internal audit team. Catches edge cases humans miss. Prevents catastrophic mistakes

The last checkpoint before capital deployment


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🤠 Trading perp sucks. Fees all over the place, garbage liquidity, and hopping between DEXs just to get filled

Bitso just announced a Perps Aggregator to fix this mess. Soon, you’ll be able to farm points across different perp DEXs from a single interface

One place to trade across top platforms, no sweat

Bitso’s new token is dropping soon - and you can start farming it right now!

Farm points across Hyperliquid, Drift, Aster at the same time

Points come from volume, refs, Discord activity, quests, and multipliers. Farm now, rack up max rewards before main seasons

Bitso Onchain powers 17k+ tokens, 14+ chains, zero gas fees, full custody.
20k+ in beta swapped $6M+, another 20k waiting

If you’re serious about perp trading, starting here early can pay off big


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Daily Dose of News 💿
November 25, Tuesday


♟ General:

• Japan to tighten crypto exchange oversight with new reserve mandate. Link.

🔔 Product updates:

• Polymarket receives CFTC approval of amended order of designation, enabling intermediated U.S. market access. Link.

🖥 Release:

• Lighter Spot Testnet is Live. Link.

• Klarna to launch KlarnaUSD stablecoin on Tempo’s mainnet in 2026. Link.

• Naver Financial to launch local stablecoin wallet amid Upbit merger. Link.

🛍 Incentives:

• Irys Airdrop Claim is Live. Link.

• Tari Airdrop Phase 1 - Tomorrow. Link.

• Perle Labs Whitelist: If You Applied, Check Now. Link.

🍜 M&A:

• Stablecoin issuer Paxos to acquire wallet startup Fordefi for more than $100M. Link.

• Exodus has acquired Baanx. Link.

• Bridgepoint has acquired ht. digital. Link.

💰 Fundraising:

• Nad .fun $1.1M Seed Round. Link.

• LootGO Angel Round. Link.


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♟ Real estate's low velocity - less than 0.25% annual turnover globally - means trillions of dollars sit idle in illiquid form

Integra layer aims to radically accelerate this by enabling fast, trustworthy token exchange and ownership transfer, potentially pushing trading velocity to even 5% of crypto markets and unleashing massive liquidity!


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Cryptocurrency spot ETFs saw inflows during yesterday's trading session:

• BTC: $128 million;
• ETH: $78 million;
• SOL: $53 million;
• XRP: $35 million;
• DOGE and HBAR: $1-2 million.


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Control is everything in non-custodial finance

The Almanak Permission Manager agent grants granular access - which wallets can execute, which contracts can be touched, which parameters can shift, which vaults can receive capital

You set the rules. The agent enforces them. Built on Safe + Zodiac

Your security, your terms


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