Good morning, everyone. It’s Monday, August 11th, 2025, and I’m Matt with your Daily Crypto News. Comrade Kyle might be joining us tomorrow, so you can expect a dose of DeFi and deep data dives—try saying that five times fast.
Quick note before we dive in—someone commented that we shouldn’t call ourselves “Daily Crypto News” if we take weekends off. Well, here’s the thing: the podcast runs five days a week, but the actual news site—dailycryptonews.net—publishes articles, market takes, and updates daily, sometimes multiple times a day. If you’re not subscribed there, you’re missing a lot of content. We keep it coming… so much so that some people unsubscribe from our emails because it’s “too much.” That’s a badge of honor, in my opinion.
Credix Vanishes After $4.5 Million Hack
Credix, a Sonic-based DeFi platform, has gone dark after losing $4.5 million in a hack earlier this week. Their X account is inactive, the website has been offline for four days, and the stolen funds—moved to Ethereum—are sitting spread across several wallets.
Initially, Credix claimed in a Telegram post that all funds would be recovered within two days. That didn’t happen. Since then, radio silence.
Things get more suspicious when you factor in StabilityDAO, another Sonic-powered platform that integrated with Credix just a week earlier. They offered “MetaVaults” with up to 287% annual yields—yes, you heard that right—and those vaults were also hit in the exploit. StabilityDAO said they’d been assured by Credix that funds were safe… and then the team vanished.
Look, if you’re offering triple-digit yields in DeFi, you’re either pulling a scam or you’re reckless to the point of negligence. Even 10% should raise eyebrows. This was either a spectacular failure of due diligence—or they were in on it. And my gut says they were probably culpable.
WNBA’s “Green Dildo Coin” Controversy
In what might be the strangest marketing stunt of the summer, a group behind the meme coin Green Dildo Coin has claimed responsibility for several incidents where sex toys were thrown onto WNBA courts since July 29.
They admitted to paying people to throw them, even offering bonuses for certain “landings.” They’ve also floated future targets like the Boston Marathon and Wimbledon. Despite the controversy, the group’s social media following is still small—but their token price has spiked.
The WNBA has issued a one-year ban (minimum) for anyone caught throwing objects onto the court.
And here’s where it gets shadier: betting platform Polymarket started taking wagers on whether a “dildo” would be thrown at games—nearly half a million bets have already been placed. This is no different than rigging a sports bet: you place the bet, then go out and make it happen. It’s gameable, and it’s already happening.
Bo Hines Steps Down as Trump’s Crypto Policy Chief
Bo Hines, President Trump’s top crypto policy advisor and executive director of the President’s Council of Advisors on Digital Assets, is stepping down to return to the private sector.
Since January, Hines has played a major role in advancing the Genius Act, coordinating industry discussions on stablecoins, and helping shape the administration’s digital asset policy framework. Patrick Witt, the current deputy director, is expected to take over.
In my view, this fits the Trump administration’s pattern: you have loyalists who stay, people who mess up and get fired, and professionals who get things done but move on quickly. Hines seems to fall into the last category. He called the role “the honor of a lifetime” and pledged continued support for the U.S. crypto industry.
AI Chess Drama: OpenAI vs. Grok
On the AI front—yeah, I’m going there—OpenAI’s O3 model just beat Elon Musk’s Grok 4 in four straight chess games. That sounds impressive, but Magnus Carlsen described both AIs as “talented children who don’t know the rules.” Both made bizarre mistakes, with Grok even losing a queen to protect a pawn.
The big takeaway? We’re still far from AI playing flawless chess, and in my opinion, ChatGPT 5 has actually gotten worse for daily use compared to earlier versions. I’ve been using Grok more, and that’s saying something.
UK Driller Eyes Gas-to-Bitcoin Mining
Union Jack Oil, a UK and US-focused energy company, is looking at using stranded natural gas from its West Newton project to power Bitcoin mining rigs while awaiting pipeline approval. The plan is in partnership with Texas-based 360 Energy and would bring the “gas-to-hash” model—common in the U.S.—to the UK.
With the UK holding less than 0.3% of global hashrate, this could be a way to monetize gas without waiting on slow infrastructure builds. It’s also part of a bigger trend: more small-cap UK companies are dabbling in Bitcoin strategies to boost their valuations.
Market Sentiment & Prices
Fear & Greed Index: 62 (Greedy)
Bitcoin (BTC): $119,505 — up 0.8% (24h)
Ethereum (ETH): $4,177 — down 0.64% (24h)
XRP: $3.19 — up 0.2% (24h)
Tether (USDT): $1.00 — flat
Binance Coin (BNB): $795 — down 1% (24h)
Solana (SOL): $178 — down 0.8% (24h)
USD Coin (USDC): $1.00 — flat
Dogecoin (DOGE): $0.226 — down 2.5% (24h)
Tron (TRX): $0.34 — down 0.4% (24h)
Cardano (ADA): $0.786 — down 1% (24h)
Litecoin (LTC): $125 — up 3% (24h)
Total Crypto Market Cap: $3.96 trillion — up 0.3% (24h)
Bitcoin Market Cap: $2.379 trillion
Ethereum Market Cap: $504.1 billion
I ran a poll on both Substack and Spotify about where people think Bitcoin’s all-time high will land. Interesting split:
Spotify listeners: 74% said $140K–$160K
Substack readers: 66% said $160K–$180K
Right now, the Fear & Greed Index is at 62 (greedy). Bitcoin’s at $119,505, up about 0.8% in 24 hours after touching $121K earlier today. Ethereum’s at $4,177, down 0.64%. XRP’s at $3.19, up 0.2%.
We’ve got a mixed market—some green, some red. Total crypto market cap is $3.96 trillion, making the entire space bigger than every company in the world except Nvidia. Bitcoin alone is $2.379 trillion (4th-largest “company” if you counted it that way), and Ethereum’s at $504.1 billion—about the size of Netflix.
That’s it for today. Until next time…
Happy HODLing, Everyone.
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