GM Explorer,

Babylon Labs recently introduced a game-changing staking feature for Bitcoin, and it shook up the cryptocurrency world in a big way.

Here’s what we got for you today:

• 📈 The sudden hike in Bitcoin transaction fees!

• ⚖️ The ruling that could put the entire crypto industry at risk!

• 🧱 Around The Block: Polygon (MATIC) climbs to a 60-day high as token migration nears.

📈 The sudden hike in Bitcoin transaction fees!

On Thursday at 11:38 UTC, Babylon Labs made a big announcement: they launched native staking for Bitcoin.

The first phase allows users to lock up their coins via self-custodial staking, and in future phases, they will potentially earn rewards from multiple proof-of-stake (PoS) blockchains.

And here's where it gets interesting:

After the announcement, transaction fees shot up from $0.26 to $132 in just 90 minutes!

People were rushing to process their transactions ahead of others, which led to a bidding war over transaction fees, pushing the costs to unprecedented levels.

But don’t just take our word for it. Even CryptoQuant’s Head of Research, Julio Moreno, confirmed that the surge was directly linked to Babylon’s launch.

The good news is that things have settled down now, with transaction costs back to under a dollar apiece.

But get this - this fee spike, however brief, might be a blessing in disguise for BTC miners who have been struggling with low transaction fees.

Crazy, right? There really is a silver lining in every bad situation.😃

Read more about this story here.

⚖️ The Ruling That Could Put The Entire Crypto Industry at Risk!

So, you know how the crypto industry is already a wild ride? Well, things might be about to get even wilder.

The US Supreme Court is diving into a case that could completely shake up the crypto world.

Nvidia is right in the thick of it, and even The Digital Chamber (TDP) is raising the alarm, warning that if this case is not handled well, it could kick off a wave of lawsuits that might stifle innovation and spook investors.

So, what's the deal? 

It all comes down to how courts handle claims of wrongdoing (aka "scienter") and whether plaintiffs need to dig up internal company documents to provide hard evidence or just rely on expert opinions.

The Ninth Circuit has taken a more lenient approach, allowing plaintiffs to get by with what critics call "speculative allegations" rather than solid evidence.

That, my friends, could spell real trouble, especially for crypto companies and their many projects, which are always skating on thin ice due to their volatility.

And let’s be honest: If the Supreme Court backs this decision and agrees that replacing hard facts with expert guesses is okay, it's game over.

We'll see lawsuits popping up everywhere, with lawyers armed with expert testimonies based on speculation rather than concrete proof.

This could result in endless legal battles, stifled innovation, and scared-off investors.

Perianne Boring, CEO of the Digital Chamber, sums it up perfectly: letting expert opinions replace real evidence is like giving the keys to the asylum over to the inmates.

In the end, we might witness a surge in lawsuits based on nothing but "unfounded negative perceptions" about crypto.

The burning question is, will the Supreme Court open the floodgates or keep the gates closed? Only time will reveal the answer.

Check out the full report for more details!

🧱 Around The Block

• Polygon (MATIC) climbs to a 60-day high as token migration nears.

• Donald Trump promotes the DeFiant Ones, a crypto project tied to his sons.

• Crypto promoter and failed politician Michelle Bond accused of illegally taking FTX cash.

• SEC pushes back against Hex founder Richard Heart's efforts to dismiss the case.

• OmegaPro co-founder arrested in Turkey over $4 Billion cryptocurrency Ponzi scheme.

• Pseudo-environmentalists target Bitcoin mining and ignore AI’s carbon footprint. 

• Binance plans to hire 1,000 as it ramps up compliance.

That's all we've got for you today.

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Catch you soon.

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell assets or make financial decisions.