Kraken doubles down on prosumers. Prediction markets stay hot. Hyperliquid sets the benchmark in decentralized exchange efficiency. And LayerZero consolidates one of the most important bridging protocols onchain. Here’s what we’re tracking.
Kraken acquires Capitalise.ai, a no-code trading platform
Capitalise is a prosumer-focused platform that lets users automate trading strategies with no code.
This is another signal that the prosumer market is a prime segment. Capitalise joins Kraken’s ecosystem to bring scripting, automation, and condition-based trading to the masses.
Prosumers are no longer a niche. They are the primary design surface for modern crypto apps.
The Clearing Co raises $15 million for a new prediction market protocol
While Kalshi operates under regulatory frameworks and Polymarket drives volume through culture and narratives, Clearing wants to create financial markets for forecasting that are permissionless and simple, yet regulated.
LayerZero moves to acquire Stargate DAO for $110 million
Stargate drives over 55 million messages, roughly one-third of LayerZero’s total, and has processed $63.8 billion in value.
The offer values STG at $0.1675 per token, a slight premium to market. If accepted, it would:
Dissolve the Stargate DAO
Migrate operations under LayerZero
Consolidate governance and tokenomics into ZRO
Convert circulating STG to ZRO at a fixed ratio
Route all future excess revenue into ZRO buybacks
Supporters see this as strategic consolidation in a hypercompetitive bridging market. Critics argue it undervalues STG’s cash flow and erodes DAO-level sovereignty.
This is one of the clearest examples of protocol-level M&A. But when Wormhole joined the conversation, it was too late, this deal was made before it was even proposed.
Hyperliquid is doing $100 million in revenue per employee
HYPE is consolidating as an industry leader:
August daily volume averages $10 billion
Binance futures volume is ~$80 billion
Protocol revenue is driven into HLP buybacks and token burns
HYPE stakers receive rewards from protocol flow
With only a handful of contributors, Hyperliquid’s annualized revenue per employee has crossed $100 million. This is a poster case for lean, performant crypto infra.
Fetch: how AI sees what you buy
We came across an interesting company, Fetch, an AI platform that reads receipts and builds consumer-level merchant intelligence. It has over 11 million MAUs and processes more than 5 billion receipts annually.
What happens when this logic moves onchain?
Can wallet-level spending data inform open reputation graphs?
Can open receipts unlock real-world affiliate programs?
Does the user own the intelligence layer?
AI-driven consumer metadata is here. It will not stay private.
Google’s L1 for tokenized deposits
This is not a stablecoin chain. It is a network designed for banks to tokenize fiat deposits inside a controlled system with Google infra.
MetaMask adds social login
MetaMask now supports social login and key recovery. While late to market, this feature aligns MetaMask with competitors like Privy, Web3Auth, and embedded wallets.
Closing thoughts
This week’s throughline is consolidation.
Apps consolidating user flows through identity and automation
Protocols consolidating under shared tokens and governance
In this new phase, protocol revenue, user identity, and capital flows are all converging. The distinction between app and infra is blurring. The best founders are building for both.
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