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Today's News Recap

Institutional Onchain - BlackRock files to tokenize and create digital shares of $150B Treasury Trust and money market funds on Ethereum, signaling institutional crypto adoption. 

SEC Watch - SEC delays decision on Dogecoin ETF while Nasdaq seeks approval to list it, and also drops probes into PayPal's PYUSD stablecoin.

DeFi Debt - Libre launches a $500M debt tokenization fund on TON, expanding real-world asset tokenization.

Full News Recap

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In Messari News

New Research Podcast

In this episode, VanEck’s Pranav Kanade and Wyatt Lonergan join Messari analysts Kinji Steimetz and Dylan Bane to unpack how crypto can evolve from hype cycles to real-world impact.

They explore the growing adoption of stablecoins, the rise of tokenized assets, the promise and pitfalls of DePIN infrastructure, and the future of performant base layers like Solana and MegaETH.

Catch the full discussion on Youtube, Spotify, or Apple.

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Messari Protocol Reporting

Messari's protocol reports give you a deep dive on the foundation and state of top crypto protocols, including key metrics and notable events. See the complete list of protocol reports here and get a preview of our latest report below.

Chronicle Q1 Report

  • Oracle Infrastructure

  • Decentralized Data Provider

  • Real-World Assets (RWA), Cost-Efficient Oracles

  • Service Token (CLE, forthcoming)

BNB Chain Q1 Report

  • Layer-1

  • Smart Contract Platform

  • Scalability, Ecosystem Expansion, DeFi Growth

  • Platform Token

Waterfall Protocol Overview

  • Scalable DAG-Based L1

  • Dynamic Tokenomics

  • Expanding Ecosystem

  • Roadmap-Driven Growth

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Messari Research

Recall: Onchain AI and Intelligence Competitions

By: Jeremy Koch

Recall is an onchain platform for competitive AI agent benchmarking, leveraging crypto incentives to surface and reward high-performing autonomous systems. In its first month, the testnet recorded over 1M transactions from 276K+ accounts and 100K+ data blobs. The AlphaWave trading competition drew 1,000+ teams competing for $25K in prizes, while Recall Surge onboarded 200K+ users in days. This report explores Recall’s infrastructure, incentive design, and its potential role as a foundational layer for open, merit-based AI coordination.

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