GM, frens! ☕️

It’s easy to get lost in the noise of daily candles, but zooming out tells a different story.

Time smooths the chaos, if you let it 🤝 

Here’s what’s on our radar this week:

• 💰️ When tokens turn into bricks: crypto now responsible for making 241K millionaires

• 💵 Bolivia’s stablecoin fix for dollar shortages

• 🔥 Ambire debates extending Rewards Season 1

• 🤯 USDC wants a “Ctrl+Z” button – and crypto isn’t amused

• 🤔 The four year cycle might be dead – crypto isn’t playing by old rules

The W3oF Degen Portfolio looks different when you step back too, not every position shines day to day, but over distance the direction is clear.

It’s less about timing every wiggle and more about staying on the path.

Hop into the Discord and let’s talk about the bigger picture 🌍️ 👀 

And speaking of big stuff, check out Ambire rolling up to ETHSofia in style 😍 

When tokens turn into bricks: crypto now responsible for making 241K millionaires

Every bull cycle has its rhythm. First, nobody believes. The charts tick up, skeptics call it a nothingburger, and everyone who’s been through this before just shrugs. Then comes the FOMO… old friends texting at midnight, asking if it’s “too late to get in”.

And at last there’s the moment when the numbers stop looking like digital lines on a screen and start sounding like reality you can’t ignore 🤓 

That moment is now.

The crypto market has pumped to nearly $4 trillion, a figure that would’ve been laughed off at forums in 2017 and called crazy and delusional. But here we are, and with it comes a new class of wealth that’s getting harder to dismiss 🪙 

According to Henley & Partners’ Crypto Wealth Report 2025, powered by New World Wealth data, the headcount is staggering: 241,700 people worldwide now hold at least a million dollars in crypto assets 🤯 

That’s a 40% jump in just a year 📈 

• And the tiers keep climbing. Out of that group, 145,100 sit on million dollar portfolios, 450 wallets hold nine figure fortunes, and 36 crypto billionaires have emerged 🧐 

• But it’s not just raw numbers. The role of crypto itself is mutating. What started as a casino is sliding into a new position: collateral, infrastructure, a base layer 🛠️ 

• The borders are cracking too. Henley’s Crypto Adoption Index puts Singapore, Hong Kong, the U.S., Switzerland, and the UAE at the top of the leaderboard, but the reality is borderless.

With nothing more than a seed phrase in your head, billions can move from, say, Zurich to Zhengzhou without asking a banker permission.

According to the report, $14 trillion in crypto value crossed borders last year alone, ignoring the financial gravity that kept money tied to geography for centuries 🧠 

• And there’s another layer to it: crypto’s millionaire wave is still a rounding error compared to TradFi 💰️ 

• There are over 60 million millionaires worldwide, yet only a fraction have made their fortune in tokens. In other words, the adoption curve hasn’t even begun to peak ⛰️ 

• If 240,000 millionaires can be minted off a $3 trillion market cap, what happens if crypto runs to $10 trillion? Or $20 trillion? The multiplier effect is enormous, and it’s why institutional money is still sniffing around every dip 🤔 

The rich are adapting faster than regulators can blink. Second passports, offshore entities, and shell corporations used to be the tricks of the wealthy. Now all you need is a wallet 🫡 

Geography has become optional, and crypto is making it obvious.

Bolivia’s stablecoin fix for dollar shortages

Bolivia has always had a strange relationship with money.

• For decades, the U.S. dollar wasn’t just a foreign currency, in face of inflation and various other issues a stable currency was the lifeline. Shops quoted prices in dollars, savings sat in dollars, and every crisis pushed people to clutch green bills a little tighter 💵 

• But in 2025, the bills themselves started drying up. Cash that everyone relied on became extremely hard to find 😲 

That’s when the switch flipped. What used to be treated as outlaw money (crypto) began sliding into the mainstream. And not in the abstract “number go up” way.

We’re talking Toyota and Yamaha dealerships letting you pay for a new car with tether. Walk into a showroom, scan a QR code, and you’re driving off with USDT in place of crisp hundred dollar notes 🚗 

• Back in June, Bolivia’s government tore up its ban on crypto and formally recognized virtual assets for the first time. A country that once hunted down traders was suddenly telling them to line up at the counter.

• Regulators even bragged that the change gave businesses a structured, compliant framework to work with 🤷‍♂️ 

The floodgates opened. Toyosa, the exclusive distributor for Toyota, Lexus, and BYD in Bolivia, teamed up with BitGo and Towerbank to build tether rails across the country’s showrooms.

With the dollar scarce, USDT became the next best thing: stable, liquid, fast.

And the numbers back it up.

Bolivia’s central bank clocked $294 million in crypto payments in the first half of 2025, a 630% leap from the year before. Even YPFB, the state owned oil giant, cleared crude imports earlier this year using crypto instead of dollars, a historic sign that stablecoins are now standing in for foreign reserves 🪙 

The private sector followed.

• Banco Bisa, one of Bolivia’s largest financial institutions, launched custody services for tether, offering big clients a way to store and move stablecoins safely.

• The central bank went further, signing agreements with El Salvador’s digital assets commission to collaborate on crypto projects 🤯 

Inflation and dollar shortages across Latin America are making stablecoins more than speculation. Mexico, Argentina, Panama - they’re all experimenting, because the choice is simple: adapt or sink 🫠 

So yes, in Bolivia, tether now buys cars, pays for oil, clears corporate books and is keeping the wheels turning.. quite literally.

Ambire debates extending Rewards Season 1

Ambire is handing the mic to its community again. A new governance proposal is on the table: should Rewards Season 1 run until December 15, 2025? 👀 

The proposal is currently up for discussion on the Ambire Discord, so go ahead, share your thoughts:

Nothing changes in the pool, it stays at 20M $stkWALLET, and the reward mechanics remain intact.

The extension would simply give more time to fine tune rules, bring in latecomers, and spread rewards more evenly through longer snapshots 🧠 

Voting power tilts in favor of stakers, with $stkWALLET counting double over plain $WALLET. Discussion is live until September 30th, 2025, after which the community will decide whether to stretch the season or wrap it up as planned.

USDC wants a “Ctrl+Z” button – and crypto isn’t amused

Circle has always liked playing close to the TradFi line, but now it’s pressing on one of crypto’s oldest nerves: immutability.

The company is openly exploring “reversible” USDC transactions, a system that could, in theory, roll back payments in cases of hacks or fraud 🫢 

On paper, it sounds like a lifeline for victims, for sure. Circle president reportedly said they’re testing mechanisms that allow reversals while still keeping settlement finality. In practice, it brushes right up against the very thing crypto was built to escape: centralized veto power over money 🧠 

The problem is obvious.

• Crypto lives on the idea that once a transaction hits the chain, it’s permanent. That’s the whole point.. having no chargebacks, no clawbacks, no middlemen with an undo button 🤌 

• Circle, by contrast, is floating a system where stablecoins could act more like credit card payments, reversible under specific circumstances, approved by issuers or validators 😲 

Supporters argue it could restore confidence in the space and prevent scams from wiping people out.

And recent history makes the case tempting.. we ALL KNOW it’s like there’s a new massive hack or a scam every day, but adding reversibility turns stablecoins into something closer to stuff crypto was created to replace, undermining the very ethos that gave crypto traction in the first place 🥀 

• Circle, of course, frames this as pragmatism. They borrow from traditional finance, where refunds and clawbacks are part of the plumbing 🤦‍♂️ 

• At the same time, Circle is busy pushing Arc, its enterprise grade blockchain network designed to hook 2,400 banks and institutions into stablecoin rails 💰️ 

In that light, “reversible USDC” isn’t an experiment but a bridge toward the way IRL banks already operate 💀 

That’s the heart of it: crypto immutability vs. compliance. One side says “code is law” the other says “lawsuits are law”, and seems like Circle is betting that if USDC wants to keep scaling into the mainstream, it may need to look a little more like Visa and a little less like real crypto 🤕 

The four year cycle might be dead – crypto isn’t playing by old rules

For years, crypto traders lived by a simple rhythm: four years, one halving, one bull run. It was clean, easy to chart, and comforting in its predictability. But markets don’t stay tame forever, especially not crypto.

The data rolling in now suggests the old cycle is cracking apart, stretched by forces way bigger than mining rewards and retail FOMO 👇️ 

• Think about it: back in 2012, 2016, 2020, etc each halving lined up with explosive pumps. The pattern became gospel. But today the macro backdrop looks nothing like those earlier runs 📊 

• Global debt markets, corporate bonds, and interest rates are dragging crypto into a longer game. The cycle that used to neatly wrap up every four years is now being stretched out toward 2026.

Macro guys point to U.S. corporate debt as a key reason. These bonds don’t just sit still, their 4 to 5.4 year maturities are dictating liquidity flows, and crypto is caught in the slipstream 📃 

Add high interest rates into the mix and you’ve got consumers feeling the squeeze, businesses cutting back, while Wall Street feasts on bond yields. That imbalance filters straight into crypto.

The next major top for the crypto market probably won’t land neatly on a halving-driven schedule. Instead, we’re staring at a longer runway, a cycle that could end in 2026 or even 2027, shaped by global liquidity tides rather than block reward cuts alone 🤯 

For retail, that means patience. The old four year heartbeat gave traders a calendar to cling to. Now it’s murkier, but maybe that’s the real maturation of this market: crypto moving in sync with broader macro forces. Less casino timing, more structural integration 🎲 

So don’t just look at halving dates anymore. Watch macro, watch debt markets, watch interest rates, watch the big brains buying in big while everyone else complains about crappy 1-day charts 🧠 

Other worthy reads

“How Low Risk DeFi Will Elevate the Onchain Global Risk-Free Rate” by Defi Dave

Trading notes based on XPL TGE by rbit:

Thoughts on Perps DEX meta, from Ash:

Interesting read on ZK Coprocessors, by Rubiks:

MEMES

That's all for now, frens.

We'll meet in a week! And remember, the market conditions are temporary, but our commitment to building a better Web3 is here to stay. Thanks for joining us, and we look forward to seeing you back next week. Cheers!

Yours, The 🔥 Team

Brought to you by Ambire: The Only Web3 Wallet That You’ll Need!