In this week's brief we break dows why $LAPTOP flopped in hours, how $320M vanished from a Bitcoin sidechain (and who's holding 15% hostage), and what OpenAI's math claims reveal about data privacy in the AI race. Read the full stories below 👇

Next week on Galaxy Grid we're joined by @trevor_flipper, Head of IR at @Lighter_xyz. We'll discuss the Robinhood integration, where ethereum:0x232ce3bd40fcd6f80f3d55a522d03f25df784ee2 goes from here, and all the latest news driving crypto markets. Out Tuesday.

Is the onchain rally overheating? We break down the 4,000 BTC Liquid Network exploit, AMC’s CEO clashing with Robinhood over tokenized stock pairs, and the fallout from Hunter Biden’s reported "LAPTOP" token on Base. Plus: why Zcash is ripping past $1,000. Galaxy Grid with @Uptodatenow @ZackPokorny_ @wowens @TheThadP is live now👇

Our own @wowens attended the 'Noah Doe' hearing yesterday and these were his impressions: - Digital Chamber's arguments were well pleaded by their Cahill counsel and the judge sounded sympathetic to them. Noah Doe's counsel argued that Chamber's case was a policy brief (what the law SHOULD be, not what it is), and also argued that the ruling would not be widely precedential because "self-custody is a small share of supply" - BPI's request is more ambitious; they want to be added as an "intervenor defendant" so they can directly oppose Noah Doe in the case. Their case was well pled by White & Case counsel. The judge was probing, not hostile, but sounded less receptive than to Chamber's arguments. The judge questioned BPI's standing, making BPI's counsel own the fact that their main argument is that BPI owns bitcoin in self-custody. - The judge was extremely attentive and asked smart questions, but also admitted that she was having difficulty following the bitcoin/blockchain terminology. This could complicate some of the more technical arguments -- but it's also a strong case for why at least an amicus should be allowed (to help advise the court). In the absence of any named defendant appearing, there is no party to the case that can push back on Noah Doe's factual and technical assertions (let alone their legal arguments). - The judge ended by saying "we have our work cut out for us" and the decision is reserved on both decisions re: Digital Chamber and BPI. The court previously heard an amicus request in early July and the judge only took about 10 days to issue her denial. Given the more sophisticated arguments made by both Digital Chamber and Bitcoin Policy, as well as their stronger claims to standing than the prior amicus attempt, the judge could take longer to issue her decisions, but we still expect her to rule within a month or two.