Crypto-collateralized borrowing surged to a record $73.6 billion in the third quarter, marking the sector’s most levered quarter on record, yet the composition of that leverage looks significantly healthier than during the 2021–22 cycle.According to Galaxy Research, the sharp rise was driven overwhelmingly by onchain lending, which now represents 66.9% of all crypto-collateralized debt, up from 48.6% at the previous peak four years ago. DeFi lending alone jumped 55% to an all-time high of $41 billion, supported by points-driven user incentives and improved collateral types such as Pendle Principal Tokens.Centralized lenders also saw a rebound as borrows grew 37% to…

From Doe v. Albemarle County School Bd., decided yesterday by Judge Jasmine Yoon (W.D. Va.): This matter is before the court on Plaintiff J. Doe’s motion for a temporary restraining order, and motion for a preliminary injunction, both filed on November 17, 2025. Doe requests that the court prohibit Defendant Albemarle County School Board (“the School Board”) from allowing the Western Albemarle High School’s Turning Point USA club (“TPUSA club”) to host Victoria Cobb as a guest speaker for an event titled “Two Genders: One Truth.” The event is scheduled for November 19, 2025, at 12:00 p.m. The court held…

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