Research

A comprehensive post-mortem of the KelpDAO ($292M) and Drift Protocol ($285M) exploits — the attack vectors, the on-chain forensics, the Lazarus Group attribution, and a framework for how DeFi protocols should restructure cross-chain security.

What does the US holding 328,372 BTC actually mean for price, supply dynamics, and global sovereign adoption? This report models three scenarios — congressional approval, status quo, and reversal — with price implications for each.

The SEC-CFTC joint ruling of March 17, 2026 is the most significant crypto regulatory event since the Bitcoin ETF approvals. This report explains what it means legally, how it affects the CLARITY Act, and what $4–8B in XRP ETF inflows could look like.

Surveying 140 institutional allocators representing $2.4T in AUM on their crypto exposure, plans for 2026, and attitudes toward Bitcoin ETFs, Ethereum staking, and altcoin positions. Includes detailed breakdown by fund type and jurisdiction.

DeFi total value locked fell from $96.8B to $89.4B in a single week. This report maps the TVL changes by protocol, examines which chains lost the most, and identifies which categories — RWA, lending, stablecoins — showed resilience.