The sudden drop on no immediate fundamental catalyst flushed millions of dollars worth of futures positions. Author: Shaurya Malwa

ALSO: Former CoinDesk head of research Noelle Acheson writes that longer-term narratives such as bitcoin’s recent store-of-value story matter but that price depends more on fleeting, often fickle sentiment. Author: James Rubin

The tweet spurred speculation that the notable venture capital firm could launch its own Optimism-based layer 2 blockchain. A16Z Crypto’s CTO tweeted: “not an L2.” Author: Brandy Betz

The significant change to CAKE’s tokenomics would move PancakeSwap’s native token toward a deflationary model. Author: Danny Nelson

The bank made it clear that no decision has yet been made on issuing a central bank digital currency. Author: Amitoj Singh