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We track the wallets, decode the scams, and expose the plays fraudsters pray you’ll miss. This isn’t crypto news. It’s threat intelligence. We’re the last line of defense between your protocol and the wolves, your tactical edge in a world where trust is just another exploit.

🎙️ Texas Buys the Orange Pill - A Fraudfather Deep-Dive

The Move 

Last weekend Governor Greg Abbott signed Senate Bill 21, instructing the Texas Comptroller to create a “Strategic Bitcoin Reserve” and seed it with $10 million in public funds. A companion measure (HB 4488) ring-fences the stash so lawmakers can’t raid it for potholes next session.

• First U.S. state to put taxpayer money where its Twitter/X mouth is.

• Reserve sits outside the general treasury and is overseen by a new advisory committee stacked with energy and fintech insiders.

• Statute lets the comptroller scale the position far beyond the starter allocation. Internal draft models whisper a ceiling near $1.5 billion by 2027.

States like Arizona and New Hampshire passed “we-could-buy-bitcoin-someday” laws. Texas just wired the first tranche.

Why Now? (And Why the Size Doesn’t Matter…Yet)

• Political optics. Trump’s Truth-Social crypto cheer-squad turned bitcoin into an election-year patriotism prop. Austin wants pole position when the campaign convoy rolls through.

• Energy strategy. Texas already hosts ±40 % of U.S. hash-rate. Parking BTC on the balance sheet converts surplus electrons into a treasury asset.

• Dollar-hedge theater. With D.C. running 7 %-of-GDP deficits, a sliver of hard-cap money is a headline hedge against fiscal drift.

Yes, $10 million is pocket lint in a $321 billion state budget. Think of it as a flare, not a flood.

Ripples for U.S. Readers

Shockwaves for International Readers

• El Salvador gets a rival. Bukele’s “Bitcoin Beach” no longer the only government treasury with skin in the game. A U.S. state joining the club normalizes sovereign (or sub-sovereign) stacking.

• FX reserve precedent. Emerging-market finance ministers can now point at Texas when pitching a 1 % BTC allocation to parliament.

• Hash-rate diplomacy 2.0. Energy-rich provinces, from Alberta to Abu Dhabi, may follow Texas: host miners, buy coin, weaponize wattage.

The Dark Corners (Fraudfather Lens)

• Custody Cat-and-Mouse
  Bill says “cold storage under a qualified custodian.” Translation: third-party key-holder ripe for social-engineering. An attacker only needs one compromised state employee to unlock nine-figure value.

• Audit Theater
  Annual public audits are mandated, but the statute is mum on realtime proof-of-reserve. A clever comptroller could rehypothecate, lend, or collateralize behind closed doors.

• Political Raid Risk
  Today the reserve is sacrosanct. Wait until the next hurricane season or pension shortfall and watch how fast a “one-time emergency transfer” memo materializes. HB 4488’s firewall can be repealed with a midnight vote.

Game Theory from Here

What to Watch, What to Do

1. Track the Wallet. We’ll publish the reserve’s address once disclosed; follow inflows, outflows, and any exotic wrapping (lending, L2 bridges).

2. Monitor AFP on SOL & ETH. A fresh $10 M buy won’t rock BTC’s boat, but it can goose perp funding across majors as speculators front-run copy-cat bids.

3. Brace for Grift. Every county commissioner with a burner phone will now pitch “local bitcoin reserve” bonds. Filter noise; watch legislation, not roadside billboards.

Fraudfather Bottom Line

Texas just stapled bitcoin to the Lone Star flag and dared the rest of America to salute, or scream. The amount is symbolic, the signal seismic. Whether you stack sats in Austin, Ankara, or Accra, understand the play: public treasuries have started converting tax receipts into 21-million-capped digital script.

The fraudsters will adapt, the regulators will bluster, and the miners will keep humming under the Texas sun.

Table of Contents

• KillChain Signals & Readouts: Deep Dives

• New Signal in the Chain: Aggregate Funding Pulse ( …

• The KillChain After Action Report (AAR)

• Headlines Impacting Our Wealth

Battlefield Intelligence: What the Numbers Truly Reveal.

This isn't a dashboard. This is a tactical briefing, peeling back the layers on the market's core assets. We’re watching capital currents, decoding hidden layers, and positioning for the next market swing. Use this intelligence to move through the fog of war.

Bitcoin (BTC)

Data cut-off: 26 Jun 2025 @ 07:00 UTC

KillChain Tactical Readout for BTC:

• No Froth, No Panic. Longs pay a tiny premium and MVRV is mid-range, market mood is confident, not cocky.

• Coins Drifting to Cold Storage. Net-outflow says big holders are shelving BTC, reducing “for-sale” supply.

• Ammo Still Thin. SSR dropped from 9.3 to 8.2, a small improvement, but we’re far from a liquidity flood.

• Split Tape. Funding-rate tug-of-war signals choppy action; expect head-fakes until one side overcommits.

KillChain Playbook

• Stick to partial profit-taking above $110 K. That’s where funding and MVRV will flash over-heated.

• Add on sharp dips into the $99 K–$102 K band - whale cold-storage flows suggest solid buy interest there.

• Watch AFP > +0.10 % + rising open interest. If fees for holding longs spike, tighten stops; momentum can reverse fast.

• Monitor stable-coin float. A jump toward $300 B is your green light that new cash just joined the fight.

Bottom line: BTC is cruising between rounds, gloves up, breathing steady, but still waiting for a fresh water bottle. Keep your guard tight and your powder dry.

Ethereum (ETH)

Data cut-off: 26 Jun 2025 @ 07:00 UTC

KillChain Tactical Readout for ETH:

• Value Pocket, Not Hot Air – A lightly positive MVRV says ETH is no longer “on clearance,” yet far from overpriced.

• Leverage Under Control – Funding fees are positive but tiny; longs have conviction without reckless margin.

• Float Keeps Drying Up – Six-hundred-plus-thousand ETH yanked off exchanges reduces immediate sell pressure.

• Ammo Waiting Inside the Castle – With half of all stablecoins already native to Ethereum, any fresh risk appetite can ignite price quickly.

KillChain Playbook

• Accumulate on quick dips below $2,300. Negative MVRV + ongoing whale withdrawals would flash a bargain signal.

• Trim above $2,700 if AFP jumps past +0.10 %. Spiking funding fees tell you longs are getting crowded.

• Set an alert for stable-coin supply jumps. A $20 B+ surge in USDC/DAI float is your green light for the next leg higher.

• Watch ETH/BTC ratio. Continued rise confirms capital rotating down the risk curve; bullish for ETH.

Bottom line: Ethereum is still the undervalued fortress in a cash-starved battlefield. Whales are emptying the moat, half the ammo is stored inside, and leverage is behaving. Load quietly, keep stops sane, and wait for the spark.

Solana (SOL)

Data cut-off: 26 Jun 2025 @ 07:00 UTC

KillChain Tactical Readout for SOL:

• Price Still in Launch-Pad Zone – An MVRV well below 1 keeps SOL in “watch-list cheap” territory.

• Leverage Heating, Not Boiling – Funding fees are rising but still small; longs are adding but not in panic chase-mode.

• Float Vacuum Continues – Roughly 190 k SOL drained off exchanges tightens the float; price can pop on modest demand.

• On-Chain Ammo Ready – The recent $250 M USDC mint gives Solana its own stockpile; no bridge friction when risk appetite returns.

KillChain Playbook

• Add in small bites between $145–$155. As long as MVRV stays below 1 and AFP under +0.05 %, odds favor an upside coil.

• Secure partial gains north of $190 if AFP rockets past +0.10 %. Crowded longs can flip to a flush fast.

• Track native-USDC velocity. If that $250 M starts flowing into DeFi TVL or DEX volume, expect a quick price response.

• Watch for another mega-mint or ETF headline. A second $200 M+ USDC print or spot-ETF rumor is likely tripwire for a breakout.

Bottom line: Solana is the high-speed rail loaded with fresh fuel while the broader market runs on fumes. Supply keeps tightening, leverage is only warming, and native stable-coin ammo is in place. When this coil snaps, it will slam, not stroll. Stay loaded, stay lethal.

Code Name: “The Leverage Gauge”

What AFP Actually Measures

A time-weighted blend of the 8-hour perpetual-swap funding rates on Binance, Bybit, OKX, Deribit, and BitMEX, each weighted by its open interest:

AFP = Σ (FundingRateᵢ × OpenInterestᵢ) / Σ OpenInterestᵢ

• AFP > +0.05 % / 8 h ➜ Longs are paying rich rent to stay levered—euphoria tax.

• AFP < –0.05 % / 8 h ➜ Shorts are crowding the exit—squeeze tinder.

• AFP ≈ 0 ➜ Leverage tilt is neutral; spot flows steer price.

Why We’re Deploying It Now

1. Derivatives dwarf spot. 24-hour perp volume now clears >$100 B—often double spot turnover. Ignoring funding is flying blind.

2. Real-time greed/fear meter. SOPR lags a block; funding resets every eight hours. We hear the cannon before we see the smoke.

3. Completes our liquidity trinity.

   • SSR = Ammo left

   • Netflows = Where coins move

   • AFP = How many bullets are borrowed

Current Read - 26 Jun 2025 @ 07:00 UTC

Tripwires & Plays

KillChain Bottom Line

AFP is the stethoscope on crypto’s oxygen tank. When funding distorts, volatility detonates. Strap this “Leverage Gauge” next to SOPR and SSR and you’ll know who’s firing, how much ammo is left, and crucially, how many rounds are borrowed and due back at midnight. Stay lethal.

What Happened

Binance’s security team flagged a new two-step con: crooks pose as “Binance Support” on WhatsApp, Telegram, or Facebook, demanding (1) a short face-verification video or (2) that you scan a login QR code for “rewards.” Either action hands the attacker instant access to your account. One user narrowly escaped after scanning a QR code that auto-logged the scammer into her wallet; only a rapid freeze saved her funds. Binance says it’s hunting fake accounts 24/7, but stresses that official support never asks for face videos or off-site QR scans.

TokenPost amplifies Binance’s latest security bulletin: scammers are impersonating “Binance Support” on WhatsApp, Telegram, and Facebook, demanding either (a) a short face-verification video or (b) that users scan a “maintenance” QR . The deep-fake twist? The stolen selfie video lets attackers spoof Binance’s biometric login, while the QR code silently hands over a pre-authenticated session. One victim narrowly escaped a clean sweep after the scan auto-logged the thief into her wallet. Binance stresses that real support never asks for unsolicited videos or off-site QR scans.

Why It Matters to Your Wealth

A single selfie or QR scan can bypass every password you’ve set, drain your balances, and leave zero blockchain recourse. Two rules to keep your stack intact—whether you’re in Dallas or Dubai:

1. Never send identity videos or scan “support” codes sent via chat apps. If a request doesn’t originate inside the verified Binance app or website, treat it as hostile.

2. Harden the perimeter: enable hardware-key 2FA, use a unique email just for exchanges, and set instant withdrawal-address whitelists.

Remember: the most successful crypto heists don’t hack blockchains, they hack trust. One impulsive scan can turn your portfolio into the attacker’s exit liquidity. Stay lethal, stay skeptical.

What Happened

A new RedStone × Gauntlet report says the value of tokenized real-world assets (RWAs) has ballooned to $24 billion, up 380 % since 2022. Surprisingly, it’s not Treasury-bill tokens leading the charge but private-credit deals (direct-lending notes paying 8–12 % yields) that now make up $14 billion of the pie. Despite faster rivals, Ethereum still hosts 59 % of all RWA value (~$7.5 billion across 335 products). Solana, Aptos and Avalanche are nibbling market share, but ETH remains the institutional default.

Why It Matters to Your Wealth

Tokenized private-credit lets everyday and offshore investors slice into loans that were once gated to Wall-Street syndicates, delivering equity-like returns with bond-style cash-flow. For U.S. readers, that means you can park stablecoins in a compliant DeFi vault and earn mid-teens APY—but only if you vet issuer quality and jurisdictional recourse. International readers gain USD-linked yield without wiring funds into U.S. banks, yet must weigh FX controls and local tax codes. Big picture: Ethereum’s dominance reinforces our thesis that “value eventually settles back on the most battle-tested chain,” so ETH accrues security fees and narrative tailwinds. Treat tokenized credit the way you would a high-yield bond ETF, small position sizes, diversify issuers, and monitor on-chain proofs of reserve, because yield without diligence is just tomorrow’s default risk in a shinier wrapper.

What Happened

DeFi stable-asset platform ResupplyFi suffered a $9.6 million loss after an attacker used a classic price-manipulation play. By pumping the quoted value of its wstUSR collateral via a synthetic stablecoin (cvcrvUSD), the exploiter borrowed far more reUSD than the contract’s real collateral could cover, then bridged the haul to Ether and split it across fresh wallets, funded, of course, through Tornado Cash. ResupplyFi has paused the affected market and says the rest of the protocol is “safe,” but funds are gone and the post-mortem is still pending.

Why It Matters to Your Wealth

For yield chasers, domestic or offshore, this is a blunt reminder: smart-contract risk is the tax you pay for double-digit APY. Even a sub-$10 million hack can nuke an entire lending pool and freeze withdrawals overnight. Two takeaways:

1. Diversify protocol risk, not just tokens. Parking 100 % of your stablecoins in a single DeFi money-market is the digital equivalent of stuffing all your cash into one regional bank pre-SVB. Split exposure across audited platforms and chains.

2. Watch oracle design like you watch fees. Resupply’s oracle accepted a thin-liquidity synthetic as gospel; no circuit breaker, no sanity check. If a pool relies on anything more exotic than Chainlink’s main feed, size positions small enough that a total loss won’t crater your balance sheet.

Bottom line: juicy DeFi yield is never “passive income”; it’s an ongoing security audit you perform on your own money. Treat it, and size it, accordingly.