Bitkraft Ventures, an early-stage game investment firm, has added new leaders who will double down on Web3 gaming investments. Bitkraft, which raised its third fund in 2024 and has $1 billion in assets under management, announced promotions for Carlos Pereira and Jonathan Huang to general partner and partner, respectively, helping bolster their Web3 investment strategy and further committing to the blockchain segment of the gaming market. Additionally, Matt Halstead, former director of the Teacher Retirement System of Texas (Texas Teachers) Investment Fund and an early Web3 investor, has joined the firm as a venture partner. Pereira has been instrumental to the growth of Bitkraft’s Web3 Strategy, which he has led since 2022. To date, Bitkraft has backed many category leaders at the intersection of interactive entertainment, tech and crypto. It has led rounds in Immutable, the gaming-dedicated blockchain; Eve Frontier, a new blockchain enabled game by the creators of the epic EVE Online; Karate Combat, a fast-growing tokenized MMA league with over 100 million monthly impressions; and, Mira, a 2025 CB Insights Top 100 company in AI building verification infrastructure that’s processing three billion tokens a day in support of 4.5 million users. It is a bold bet by Bitkraft — started by Jens Hilgers in Berlin — in part because the path to success in Web3 games has stretched out and mass market acceptance isn’t guaranteed, even as many crypto bets in non-gaming spaces have turned out to be better investments. Some gamers in the West have had an allergic reaction to Web3 and that has stalled efforts by the big game companies to adopt blockchain solutions. And about 93% of Web3 game startups have failed with their token launches. Still, Web3 game companies are hitting milestones and a number of big bets are still under way. Web3 game investments, accordingly, are starting to come back after hitting a trough (with scores of investments per quarter) — perhaps because U.S. President Donald Trump favors an unfettered crypto market. Why double down? Carlos Pereira has been appointed a general partner at Bitkraft Ventures. As the Web3 market matures, Bitkraft is doubling down on its thesis that blockchain-enabled digital rights, property, identity and economies will redefine gaming, creator monetization, anddigital experiences.I asked Pereira why Bitkraft is doubling down, given Web3 gaming’s challenges. He replied in a message to GamesBeat, “Because we think we have an edge in the category, not just in games but in consumer applications that increasingly lean on gamification and financialization as a generational trend.” He added, “Our numbers tell a compelling story: up to now we’ve been less than 5% of our category funding, and yet the quarter or so of our portolio companies that have a token represent almost half of the category’s overall market cap.” He said that an abundance of funding, if anything, is a leading indicator of compression of returns going forward as valuations get pushed up. To shy away from a category because it’s too contrarian or under-funded would be in a sense anti-VC. “The lack of mass market successes shouldn’t be a surprise considering the general time it takes to build hit games vs how long Web3 games have been investable, the general ‘hit rate’ of VC investments, and the fact that in Web3 you’ve had to build a game and figure out non-trivial distribution and infrastructure challenges that only really in the last year or two have gotten a jump in quality/capacity,” Pereira said. He noted there are several emerging examples of apps at a quality bar that is broadly competitive, for example Boxed in Bitkraft’s portfolio with almost $30 million in ARR, Cambria with high monetizing seasons that are deeply engaging to whales, Karate Combat with over 100 million monthly impressions and strong awareness in Web2, Mythical with its sports properties with high value partners and strong unit economics, and Gunzilla with strong daily active user retention. “Good things take time, but the direction of travel is clear,” Pereira said. Leadership backgrounds Bitkraft Ventures has $1 billion in assets under management. Huang joined Bitkraft in 2023 and brings a decade of experience across Web2 and Web3 investments out of Asia, including SEA Capital and Temasek, where Huang drove their Series G investment into Roblox. He focuses on consumer platforms, mobile studios and creator ecosystems across Asia, with an emphasis on next-generation user behavior, use-cases, and emerging monetization models that are reshaping the industry at scale. Huang’s elevation to partner helps strengthen Bitkraft’s position in Asia and reflects Bitkraft’s continued investment in the region’s potential as a global epicenter for innovation across both Web2 andWeb3.Halstead brings a rare blend of traditional asset management and Web3 experience to Bitkraft. As one of the first institutional investors in crypto, he spearheaded blockchain investment strategies for the Texas Teachers, an investment institution managing over $200 billion in assets. The firm believes his move to Bitkraft is a powerful endorsement of Web3 gaming’s legitimacy as an investable category—and a sign that seasoned institutional capital allocators are seeing real value in this space. Bitkraft launched its Web3 Gaming fund in 2021, which was a key catalyst in the firm’s evolution — expanding beyond Early Stage equity investing into new asset classes, emerging markets and diversified financing solutions broadly serving the Interactive Media industry. Since then, Bitkraft has grown to $1 billion in assets under management, welcomed a strategic minority investment from Blue Owl, and broadened its global reach last year with a new presence in India. Mythical Games is making FIFA Rivals under license from FIFA. “Web3 has unlocked new creative and economic models for developers, players, and communities, and Bitkraft has long been committed to its potential,” said Pereira, in a statement. “As we enter the next phase of growth, we are expanding our reach with experienced investors like Matt, whose institutional experience and deep roots in crypto can only strengthen our Web3 strategy. Matt isn’t just a respected investor, he’s a peer and a visionary in the space, and I couldn’t be more excited to have him join Bitkraft.” “Bitkraft has built a track record of Web3 successes across the US, Asia, and emerging markets,” said Huang, in a statement. “With blockchain adoption continuing to scale and new economic models proving sustainable, this is a pivotal moment to back the next generation of Web3 founders. We’re doubling down on our Web3 strategy to help build the future of gaming, digital assets, and interactive experiences.” “I joined Bitkraft because I believe their vision for Web3 isn’t just forward-thinking, it’s transformative,” said Halstead, in a statement. “Web3 has the power to bridge the digital and physical worlds, unlocking new experiences and economic models that put control back in the hands of creators and players.” He added, “Bitkraft doesn’t just invest in this future; they help build it as active participants, deeply embedded in Web3, gaming, and emerging technologies. This makes them the ideal partner for those shaping the next era of digital entertainment, and I’m excited to help them reach and support innovators in the space.”

The Fearsome Megalodon Ate Basically Whatever It Wanted to Reach Its Daily 100,000-Calorie Need, Study Suggests Scientists previously assumed the giant, prehistoric sharks mostly feasted on whales, but it turns out they probably weren’t so picky An artistic reconstruction of the extinct megalodon. Scientists' ideas about how the megalodon looked are based on its fossilized teeth. Hugo Saláis via Wikimedia Commons under CC BY 4.0 Between 3 million and 20 million years ago, the largest predatory fish ever known hunted in Earth’s oceans. Called theOtodus megalodon), this giant shark grew up to 79 feet long, had teeth the size of human hands and could bite with the strength of an industrial hydraulic press. But what scientists know about the extinct creature has been almost entirely determined from fossil teeth—since paleontologists have yet to discover a complete megalodon, and the animals’ cartilaginous skeletons don’t preserve well. Now, new research on the mineral content of their teeth suggests megalodons ate pretty much whatever they wanted. Until recently, scientists assumed that megalodons satisfied their estimated 100,000-calorie daily needs by mostly eating whales. A study published Monday in the journal Earth and Planetary Science Letters, however, suggests the prehistoric shark had a much more diverse diet than previously thought—akin to the great white shark’s “if it moves, it’s food” hunting strategy of today, writes Vice’s Ashley Fike. Jeremy McCormack with a fossilized megalodon tooth. Uwe Dettmar for Goethe University An international team of researchers reached this conclusion after analyzing the ratio of different variants, called isotopes, of the mineral zinc in 18-million-year-old megalodon teeth. Animals absorb zinc only through food, so this could offer a hint to their diets. Muscles and organs absorb more of the isotope zinc-64 than zinc-66, meaning that the higher up the food chain an animal is—or the more meat and fish it eats—the less zinc-66 it absorbs, and its ratio of zinc-66 to zinc-64 is lower, in turn. “Since we don’t know how the ratio of the two zinc isotopes at the bottom of the food pyramid was at that time, we compared the teeth of various prehistoric and extant shark species with each other and with other animal species. This enabled us to gain an impression of predator-prey relationships 18 million years ago,” Jeremy McCormack, a scientist from Goethe University Frankfurt and lead author of the study, says in a statement. Unsurprisingly, the isotope ratios in the teeth put the megalodon at the top of the food chain, alongside close shark relatives such as Otodus chubutensis. At the same time, however, the scientists noticed there wasn’t a huge difference between the megalodon and the lower-tiered animals, suggesting the sharks feasted on creatures from all rungs of the ladder. “They were not concentrating on certain prey types, but they must have fed throughout the food web, on many different species,” McCormack tells CNN’s Jacopo Prisco. “While certainly this was a fierce apex predator, and no one else would probably prey on an adult megalodon, it’s clear that they themselves could potentially feed on almost everything else that swam around.” The results also indicate that megalodon populations living in different habitats had slightly contrasting diets, potentially because of differing prey availability. More broadly, the study invites comparisons between the megalodon and its iconic extant relative, the great white shark. These comparisons, however, may have previously led to some overreaching assumptions. “Previous studies simply assumed that megalodon must have looked like a gigantic version of the modern great white shark without any evidence,” Kenshu Shimada, a vertebrate paleontologist at DePaul University and co-author of the new study, told National Geographic’s Jason Bittel back in March. He and colleagues had just published a different paper that reassessed the prehistoric shark’s size, suggesting that it had a more slender body than its smaller, modern cousin. The new study thus joins a host of research challenging widely held ideas about megalodons and their relatives, says Alberto Collareta, a paleontologist at the University of Pisa in Italy who was not involved in the research, to CNN. “These have led us to abandon traditional reconstruction of the megatooth sharks as ‘inflated’ versions of the modern white shark. We now know that the megalodon was something else—in terms of size, shape and ancestry, and of biology, too,” he adds. In fact, with both species eating generalist diets, great white sharks might have outcompeted megalodons for food and ultimately played a role in their demise. “Even ‘supercarnivores’ are not immune to extinction,” Shimada says in the statement. Get the latest stories in your inbox every weekday.

News Anthropology Humans used whale bones to make tools 20,000 years ago Beached whales provided Stone Age humans with bones to fashion into hunting weapons Researchers have identified the world’s oldest known whale bone tools. This spear point made of gray whale bone, from a French rock–shelter, dates to between 18,000 and 17,500 years old. Alexandre Lefebvre By Bruce Bower 2 hours ago Western Europeans crafted hunting weapons out of bones from whales stranded on the Atlantic shoreline between 20,000 and 14,000 years ago, researchers report May 27 in Nature Communications. Previously excavated finds at Stone Age cave and rock–shelter sites running from northwestern Spain to southwestern France, some located as far as about 300 kilometers inland, represent the oldest known examples of whale bone tools, say archaeologist Jean-Marc Pétillon of the University of Toulouse Jean Jaurès, France, and colleagues. Implements made of whale bones in other parts of the world, such as the South Pacific islands, date to no more than several thousand years old. Sign up for our newsletter We summarize the week's scientific breakthroughs every Thursday.

Large projectile point made of Gray Whale bone from the Duruthy rockshelter, Landes, France, dated between 18,000 and 17,500 years ago.   CREDIT: Alexandre Lefebvre. Get the Popular Science daily newsletter💡 Breakthroughs, discoveries, and DIY tips sent every weekday. Prehistoric stone tools are among some of the oldest and important pieces of evidence we have of a time when our species began to evolve a higher level of intelligence. Many of these tools were also made from animal bones–including the bones of some of the biggest animals on the planet. New research finds that humans living up to 20,000 years ago may have been making tools out of whale bones. The discovery not only adds more to the story of early human tool use, but gives a glimpse into ancient whale ecology. The findings are detailed in a study published May 27 in the journal Nature Communications. “That humans frequented the seashore, and took advantage of its resources, is probably as old as humankind,” Jean-Marc Pétillon, an archaeologist at the Université Toulouse Jean Jaurès in France and study co-author, tells Popular Science. “There is evidence of whale scavenging at the site of Dungo 5 in Angola dating to 1 million years.” Fragment of projectile point from the cave site of Isturitz (Pyrénées-Atlantiques, France), made of bone from right whale or bowhead whale, dated to 17,300-16,700 years before present, curated at the Musée d’Archéologie Nationale (Saint-Germain-en-Laye, France). CREDIT:  Jean-Marc Pétillon. By land and sea For our Paleolithic ancestors living in coastal areas, the sturdy bones of large whales were potentially an excellent resource for various tools. However, many prehistoric coastal archaeological sites are fragile and are at risk of rising sea levels, making reconstructing the past interactions between marine mammals and humans a challenge for scientists..   “The tools were dated between 20,000 and 16,000 years before [the] present, a period way before the invention of agriculture, and during which all human groups in the world lived a life of nomadic hunter-gatherers,” says Pétillon. “Climatically, this is the last part of the last glaciation, with a climate much colder than today.” That colder climate brought a sea level that was roughly almost 400 feet lower than it is today. With this change in sea level, we have no direct evidence of the human occupations on the shore, since the rise in sea level either wiped them out or the settlements lay buried under 300 or so feet of water.  Excavations in 2022 in the Basque cave of Isturitz, France, where several dozen whale bone objects were discovered. CREDIT: Jean-Marc Pétillon, Christian Normand. With this lack of evidence Paleolithic people have historically been viewed as inland hunters. Those living in present day western Europe would have hunted red deer, reindeer, bison, horse, and ibex. While they did hunt inland, there is a growing body of evidence from the last 20 years showing that they also took advantage of the Paleolithic seashore. “There are studies showing that people also gathered seashells, hunted seabirds, fished marine fish, etc., as a complement to terrestrial diet, and these studies were made possible because Paleolithic people carried remains of marine origin away from the seashore, into inland sites,” explains Pétillon. “Our study adds whales to the lot. It is one more contribution showing that Late Paleolithic humans also regularly frequented the seashore and used its resources.” Ancient giants In the new study, the team analyzed 83 bone tools that were excavated from sites around Spain’s Bay of Biscay and 90 additional bones uncovered from Santa Catalina Cave in Spain. They used mass spectrometry and radiocarbon dating to identify which species the bones belonged to and estimate the age of  the samples.  The bones come from at least five species of large whales–sperm, fin, blue, gray, and either right whales or bowheads. The latter two species are indistinguishable using this technique. The oldest whale specimens are dated to roughly 19,000 to 20,000 years ago, representing some of the earliest known evidence of humans using the remains of whales to make tools. Some of the whale bone points themselves were over 15 inches long.  Fragment of projectile point from the rockshelter site of Duruthy (Landes, France), made of gray whale bone, dated to 17,300-16,800 years before present, curated at the Arthous Abbey Museum (Landes, France). CREDIT: A. Lefebvre. “Most of the objects made of whale bone are projectile points, part of the hunting equipment. They can be very long and thick, and were probably hafted on spear-style projectiles rather than arrows (and the use of the spearthrower is documented in this period),” says Pétillon. “The main raw material used to manufacture projectile points at that period is antler, because it is less brittle and more pliable than bone, but whale bone was preferred in certain cases probably because of its large dimensions.” The ocean’s bounty Most of these whale species identified in this study are still found in the Bay of Biscay and northeastern North Atlantic to this day. However, gray whales are now primarily limited to the North Pacific Ocean and Arctic. Additional chemical data from the tools also suggests that the feeding habits of the ancient whales were slightly different than those living today. According to the authors, this is likely due to behavioral or environmental changes. That the whales in the area have stayed relatively the same was particularly intriguing for Pétillon. “What was more surprising to me—as an archeologist more accustomed to terrestrial faunas—was that these whale species remained the same despite the great environmental difference between the Late Pleistocene and today,” he says. “In the same period, continental faunas are very different: the ungulates hunted include reindeer, saiga antelopes, bison, etc., all disappeared from Western Europe today.” Importantly, the findings here do not imply that active whaling was occurring. The techniques at the time would not allow humans to hunt sperm, blue, or fin whales and the team believes that these populations took advantage of whale strandings to harvest the bones for tools.  “The earliest evidence of active whaling is much younger, around 6,000 [years] before present in Korea (site of Bangudae) and maybe around 5,000 before present in Europe (Neolithic sites in the Netherlands),” says Pétillon. Future studies could look at the systematic way that these ancient Atlantic Europeans systematically used the seashore and how they developed their ocean hunting techniques. 

Comparison of a megalodon tooth and a great white shark tooth, not associated with the study. (Image Credit: Mark_Kostich/Shutterstock) NewsletterSign up for our email newsletter for the latest science newsMegalodon teeth have always been key to understanding the ancient marine predator. Fossilized teeth are all that remain to prove the existence of these massive sharks, and the name megalodon is from the Greek for “big tooth.”A new study, published in Earth and Planetary Science Letters, highlights the importance of the megalodon’s human-hand-sized teeth once again. Thanks to extracting and analyzing the traces of zinc left in the fossilized teeth, researchers now know that the megalodon’s diet was much broader than scientists once believed.“Megalodon was by all means flexible enough to feed on marine mammals and large fish, from the top of the food pyramid as well as lower levels – depending on availability,” said Jeremy McCormack from the Department of Geosciences at Goethe University, in a press release.What Did the Megalodon Eat?Clocking in at 78 feet in length and weighing about twice as much as a semi truck, the megalodon was a big fish with a big appetite. It is suggested that a member of the Otodus shark family would require about 100,000 kilocalories per day to survive. Due to this extreme number, scientists have often assumed that the megalodon’s main source of calories came from whales.This new study suggests that whales were not the only item on the megalodon’s daily menu and that these sharks were actually quite adaptable when it came to their food. The research team analyzed 18-million-year-old giant teeth that came from two fossil deposits in Sigmaringen and Passau. What they were looking for was the presence of zinc-66 and zinc-64, two isotopes commonly ingested with food. Typically, the higher up in a food pyramid an animal is, the lower the presence of zinc. As they are oftentimes at the top of the food chain, species such as Otodus megalodon and Otodus chubutensis have a low ratio of zinc-66 to zinc-64 compared to species lower on the food chain.“Sea bream, which fed on mussels, snails, and crustaceans, formed the lowest level of the food chain we studied,” said McCormack in the press release. “Smaller shark species such as requiem sharks and ancestors of today’s cetaceans, dolphins, and whales, were next. Larger sharks, such as sand tiger sharks, were further up the food pyramid, and at the top were giant sharks like Araloselachus cuspidatus and the Otodus sharks, which include megalodon.”Surprisingly, the zinc levels in the megalodon teeth weren’t always that different from the zinc levels in species lower down the food chain. This result means that the commonly held scientific belief that megalodons focused their attention on eating large marine mammals may be incorrect. Instead, McCormack refers to the megalodon as an “ecologically versatile generalist” that adapted to environmental and regional constraints that changed the availability and variety of their prey.A New Method in Teeth TestingUsing the zinc content of fossilized teeth is a relatively new method of analysis, and the research team working on the megalodon couldn’t be happier with their results. The methods used in this study have not only been used for prehistoric shark and whale species but also modern-day shark species, and have even been used on herbivorous prehistoric rhinoceroses.Overall, these new methods have begun to rewrite the history of megalodon’s eating habits and may help to explain more about why these giants of the food chain went extinct. “[Determining zinc isotope ratios] gives us important insights into how the marine communities have changed over geologic time, but more importantly the fact that even ‘supercarnivores’ are not immune to extinction,” said Kenshu Shimada, a paleobiologist at DePaul University and a coauthor of this study, in the press release.Article SourcesOur writers at Discovermagazine.com use peer-reviewed studies and high-quality sources for our articles, and our editors review for scientific accuracy and editorial standards. Review the sources used below for this article:Earth and Planetary Science Letters. Miocene marine vertebrate trophic ecology reveals megatooth sharks as opportunistic supercarnivoresAs the marketing coordinator at Discover Magazine, Stephanie Edwards interacts with readers across Discover's social media channels and writes digital content. Offline, she is a contract lecturer in English & Cultural Studies at Lakehead University, teaching courses on everything from professional communication to Taylor Swift, and received her graduate degrees in the same department from McMaster University. You can find more of her science writing in Lab Manager and her short fiction in anthologies and literary magazine across the horror genre.1 free article leftWant More? Get unlimited access for as low as $1.99/monthSubscribeAlready a subscriber?Register or Log In1 free articleSubscribeWant more?Keep reading for as low as $1.99!SubscribeAlready a subscriber?Register or Log In

Last month, Donald Trump pushed the boundaries of government and financial ethics by announcing a contest: whoever bought and held the highest amount of the $TRUMP meme coin for an entire month would win an invite to a private dinner with the President. That dinner took place on Thursday at the Trump National Golf Course in Virginia, with attendees reportedly dropping nearly $394 million on $TRUMP in order to win the privilege. According to an analysis by The Guardian of the winners’ wallets, over half of them lost money participating in this contest. But that’s only if you’re analyzing the wallets visible on the contest site’s leaderboard. The real money was being made elsewhere.“Bet you 10 percent of dinner participants are doing this”I interviewed an enthusiastic crypto trader who figured out how to win the contest without losing any money: buy enough $TRUMP to get onto the leaderboard — and then in a separate wallet on a separate exchange, buy $TRUMP perpetual futures that would be profitable if (or as he saw it, when) the value of $TRUMP dropped. Yes, he did The Big Short, except with Donald Trump’s meme coin. “Bet you 10 percent of dinner participants are doing this,” he told me before the contest ended. “Everyone knows $TRUMP price will fall inevitably as more supply comes online in the future and gets dumped on retail.” When I spoke to him again after the dinner, he told me that “the majority of people I spoke with, particularly the crypto traders and folks who are very close to the crypto ecosystem, are like, ‘Yeah, I dumped this. I already sold the coin.’” “A lot of people put on the same hedge trade as I did, because they didn’t wanna take risk on the coin,” he added.I can’t reveal his name, his position on the leaderboard, how much he spent, or the dates of specific trades he made. I can say that he did this for shits and giggles. But as he told me, when there’s such a clear and obvious set of financial incentives behind the $TRUMP dinner contest, it’s worth making the gamble.Did it pay off? “Um, I basically was flat,” he said. “I originally wanted to make some money, but I think the shorting I did — it was okay?” He did, however, get a free dinner out of it. The following interview has been edited for clarity.Let’s just start from the beginning. What made you want to enter this? I think meme coins have a lot of staying power because humans just want things to gamble on. What was fascinating when the Trump token launched in January right before the inauguration, was that it effectively was like a black hole that sucked money away from all these other tokens in the ecosystem. That’s why the Trump token ran up to some preposterous number immediately after it was dropped. When I saw this competition launch, it was clear that there was going to be a tremendous amount of grift in this space, and the presidential family was only interested in self-enrichment and all that. 
It was clear that there was going to be a tremendous amount of grift in this spaceBut putting that aside, I’ve just been interested in the Trump token and I think I’ve just been structurally bearish, because the Trump token has a bunch of supply that’s currently controlled by, effectively, the Trump family and the associates. It’s only a matter of time before the supply unlocks. When that supply unlocks, in the crypto community, people call this dumping: they’ll just dump it onto retail and that’s how they get their exit liquidity. So that’s one way the Trump family can make money. The other way is obviously whenever there’s trades that happen, the trading fees also accrue to the family. I know that the Trump token is going to go down. If you put a gun into my head and ask, what will the price be two years from now? It’s going to be much lower than where it is today. When this contest launched, I was like, okay, this is clearly a way for the affiliates and the Trump family to find a way to drive up the price temporarily. And having been in this space for a while, it’s clear that these events only drive the price up for a period of time and then people lose interest. Unless you feed them something else, it’s going to drop. Everyone expects the token to dumpThey launched the contest right around when the first tranche of Trump tokens were going to unlock, which was supposed to be 90 days after the launch of the token back in January. And so this whole contest was kind of timed at an apt moment where it’s like, okay, supply’s going to unlock. Everyone expects the token to dump. But then, on Twitter, they agreed to delay the unlock for another 90 days. But once the unlock happens and they start dumping, that’s when the price is going to drop a lot. 
So this contest was interesting. I was like, okay, well, I feel like I can put on a trade here where I’m not taking on any real risk and I think it’ll be cool to meet random people at this dinner and see who else is interested. It seems like there are a lot of folks from out of the country who are flying in to attend the dinner, and a lot of crypto whales. There’s one that I follow, he’s mentioned in his Telegram that he’s one of the big holders. He’s talked these last few days about how he’s preparing for this dinner. So talk me through how you generated the funds to buy the Trump coin. Did you use your own personal funds?I use my personal funds. All the crypto trading I do is with my personal funds. Some of the trading I do is on Coinbase through a centralized exchange. And the rest of the trading I do is on chain through self-custody wallets. When this opportunity came up, the only way you can actually be in a position to be in the top 220 is if you own $TRUMP tokens in a self-custody wallet. Some of the exchanges, including Coinbase, allow you to buy the $TRUMP token, but that would not count towards this contest. What I did was I moved stablecoins like USDC to my Solana wallet, and then I used a decentralized exchange to buy the $TRUMP token. The way the contest works is you have to register your wallet before you are counted towards the ranking system. And unfortunately, I did that like a couple days late, so I had to size up a little bit more to ensure that I could catch up to the people who had registered a couple days prior. But that’s a nuance. So explain the process of shorting $TRUMP coin on a secondary market. Like how does one do that? I am a dumb person who only understands shorting markets through watching The Big Short. Basically when you short, you’re hoping that the price goes down, right? And the mechanism of shorting here is slightly different than shorting stocks, but we don’t need to go into the specifics here. The way to short [crypto] is, you can do it in two ways. One is through a centralized exchange that offers, effectively, shorting services. And what I mean here by shorting services is, there is a “perpetual future” that is offered at these exchanges. When I talk about exchanges that offer this, it’s mostly going to be like Binance or Bybits and some of the bigger exchanges outside of the US. Coinbase is very far behind when it comes to offering derivative products that goes above and beyond just buying the token. I couldn’t do it through Coinbase, and I can’t short through an exchange like Binance, because there’s a lot of restrictions around who can actually use Binance. I’m in the US and Binance has very strict VPN rules. I can’t just open a Binance account and short. The only real way for me was to short on a decentralized exchangeSo the only real way for me was to short on a decentralized exchange, which has actually become really popular in the last year or so. It’s like the same concept as shorting on Binance, but you can do it on chain. I use a service called Hyper Liquid, which is a very popular decentralized exchange. And on this exchange, they offer derivative products that basically track the movement of different tokens. And so they offer, effectively, $TRUMP perpetual futures, and you can effectively initiate a short position through that. I’m happy to go into the details if you want, but that’s like the high level. Yeah, yes, please please tell me these details. So that is basically how to set up the short position. Conceptually, there’s a few things to keep in mind. First thing is: because I’m shorting in a separate wallet that’s completely detached from $TRUMP, 
I have to put up additional capital in another wallet to do this. It’s not like I can just use my $TRUMP tokens as collateral and use the same pool of money to short. And the way shorting works and the way perpetual futures work in general is you put up a certain margin. So let’s keep it simple: say I put up $100k in margin and I choose to short the $TRUMP token. Now, if $TRUMP goes up in price, then I’m hurting, because I’m betting on the token falling. If the $TRUMP token doubles in price, well, then I will have lost a hundred thousand dollars in which case, my margin gets wiped out and this [futures] contract will have to be closed because I’ve lost all my money. If the token goes down in price, that’s when I profit — as long as I close out the position in the green. So you basically are juggling two wallets. One is the wallet in which you’re holding all this $TRUMP coin. 
The other one is like, how would you describe it? Is that the money that you’re generating in order to pay for participating in the contest? The most important wallet here is the Solana wallet with the $TRUMP tokens, because that’s what’s being used by the contest organizers to determine who makes the top 220. But as I mentioned earlier, I am structurally bearish on the $TRUMP token and I wouldn’t want to go for dinner and like, see my money go down when the $TRUMP token goes down in price. I decided I wanted to basically put on a hedge, where, using the other wallet and the short position, I’m basically agnostic to any sort of price movement. That’s the reason why I set up the other wallet. I could have taken on the price risk, but that’s pretty risky, because typically what happens with these events is that as we get close to the end of the contest date, people start dumping the $TRUMP tokens. The value of the $TRUMP token will have gone down — let’s say it went down to 90,000 — it would be offset by the short wallet, which would be like 110,000. And then they add up to 200,000, which is how much I hypothetically put in from the start. 
Did you make money off of this?Um, I basically was flat. I originally wanted to make some money, but I think the shorting I did — it was okay? I basically just broke even on this entire tradeLet me take a step back.
So initially I shorted the same amount as the token. But then as the time went on, as we got close to the contest end date, I decided to increase the size of the short position, because I thought that based on the thesis I had, people are going to start selling because there’s nothing to look forward to. And so I increased that size. But it just so happened that towards the end of the contest was also when the crypto markets started ripping after May 8th. So net-net, I think I basically just broke even on this entire trade.Define the crypto markets “ripping.”May 8th was basically the Thursday right before that weekend when the US representatives were going to meet the Chinese representatives in Switzerland [for tariff negotiations]. That day was also when the UK deal announcement was made. And so the market basically took that as a bullish sign, and then that got parlayed into the positive euphoria of the US-China negotiations. Everything started going up. Okay. So every market just started getting bullish. 
Yeah, all the tokens ran up a lot. If you look at the token price, $TRUMP coin on May 7th was roughly 11 bucks, and then on May 9th it was like 14 bucks. Over time that token has come down in price. But yeah, it ran up 40 percent in the span of like two days.What was the strategy going into the end game? 
Because it sounds like it was super volatile around the end and that’s why you needed to increase your short position. I thought that towards the end, I could opportunistically make some profits by shorting more than I owned, if that makes sense.[The previous week, the contest organizers announced a new incentive for winners to not sell the coin before the dinner: a rare “TRUMP DIAMOND HANDS” NFT.]What is the point of encouraging people to go diamond hands by offering this NFT? So I think this goes back to the incentives of Trump’s affiliates, right? They have a lot of supply that they own. Last I looked, they own eighty percent of the supply. But all of that, as with many other [crypto] projects, gets locked up and only gets released over time, so that you don’t have all this supply pressure on day one. Because then no one wants to buy the token. The whole point of the NFT and this subsequent rewards program that they’ve talked about, but haven’t given the details for, is to incentivize people to hold the token longer. The longer people hold the token, then the price arguably would not fall as much. 
The only way to keep the price high is if you introduce all these little games to keep retail engagedThe eventual setup, I’m sure, whether that’s in three months or in a year or two, is that the affiliates will then have their supply unlock, and they will want to sell. They obviously want to sell at a higher price. And the only way to keep the price high is if you introduce all these little games to keep retail engaged and interested in holding tokens. How do you get the NFT now? Do you have to rebuy all the coin?Yeah, my understanding based on that tweet they sent is, they basically look at your wallet holdings on the day of the dinner and compare that to your wallet holdings on the last day of the contest. And so if those match or if you own more, then they’ll give you an NFT. I was kind of dumb. What I should have done was, right before the 1:30PM cut off, I should have sold like, 90 percent of my tokens. In this way, on the dinner day, I would only have to buy 10 percent of what I bought previously, and I think I would qualify for this NFT. 
Wow. Have people done that? Well, the NFT hasn’t been dropped yet.
I don’t know the specifics. There are definitely people who sold before the end of the deadline, and that’s clear from even looking at that leaderboard page, right? There’s one column with current holdings and a bunch were zeroed out, but they are still in the top 220 because it’s a time-weighted calculation.Why did they do time-weighted calculations rather than like, just a cumulative amount of money you held at the end? I think this goes back to solving not only how much do you hold, but how long do you hold it for, and rewarding people differently. So if you held $60 over the entire stretch of the contest, you should be rewarded more than someone who held like $200 for one day on the last day. I think the time-weighted calculation effectively is trying to normalize for that. They also gave me a call the same day, which I thought was spam for a secondHow have the organizers been in their interactions with you for the contest and for the dinner and everything?They emailed me the day of, as soon as the
contest ended, saying that I had made it into the top 220. And they also gave me a call the same day, which I thought was spam for a second. But when the voicemail thing came up, I’m like, oh, this is actually a real thing. So I picked up the phone and then they just confirmed that I got the email and that I would have to do a KYC [Know Your Customer check, part of anti-money laundering regulatory compliance for banks, crypto exchanges, and other entities] in order to qualify for the dinner. Please give us your data, references, whatever. 
Yeah, nothing that sophisticated. They outsourced it to another party and I just provided my name, my nationality, where I live. No social security number or anything like that. Plus my birthday. and I think they just ran like an external check to make sure that I wasn’t a criminal or anything like that. I feel like it was pretty light vettingHow thoroughly do you think they’re been vetting you, how professional has the process been? I feel like it was pretty light vetting. I talked to someone about, let’s say, getting into the White House and it’s a lot more strict in terms of, you have to show your passport and all that. And here, you don’t really have to do that. You just have to show your ID at the door. At least that’s what they said. And as long as your ID matches the information you gave, you’re fine. So I don’t think the security is that strict, per se, but it’s good enough, I guess. Have you participated in any contests like this or heard of anything similar? No, I have not.That’s wild. This is rather innovative if one thinks about it in a “divorced from most governmental ethics” manner. Did you read about how it’s possible that Trump just doesn’t show up to this?I did see something that basically said, yeah, based on the terms and conditions, the president does not have to be there, I think. Honestly, I think a lot of people aren’t really there to see Trump. I could be totally wrong, but I get the sense from, let’s say, like looking at the crypto whales’ Telegram, that [they’re] more interested in just meeting other crypto folks so that [they] can network. If Justin Sun is there, that’s pretty good, right? Like being able to talk to him and maybe, you know, get his contact information and all that. RelatedThe many escapes of Justin SunI think for me and probably other people, we’re more interested in seeing if there’s any other interesting news that comes out of this dinner. I will have my wallet ready, and if some great news gets dropped at the dinner, that could potentially positively influence the $TRUMP token price or any other token price, I will buy it on the spot and try to profit. This is something that other attendees are thinking about doing too?I can’t say with certainty, but based on that one Telegram guy, it seemed like it was implied. Like, if they announced a rewards program for a Trump thing – say, the NFT will be used for this, and then the rewards will give you some really impressive thing in three months, that could probably move the price. Then I would take on a short-term trade literally at the dinner table. That’s why after the $TRUMP token dropped right before inauguration, I finally decided to download Truth SocialThat’s a first mover advantage right there.In crypto, half of it is just being a first mover advantage. That’s why after the $TRUMP token dropped right before inauguration, I finally decided to download Truth Social. I only follow Trump. He’s the only guy I follow and I have notifications on, which actually served me well. Was it April 9th when he sent out that tweet saying that tariffs are now delayed for 90 days? That was first out on Truth Social and I saw that immediately, and I’m like, oh, time to trade my equities, because I will be first to the news. So he’s dropped some nuggets for sure on his account. So the dinner itself is a good money making opportunity?Possibly. It’s hard to say, but in the event that it does, there is some information that gets dropped, that could be actionable.Is there anything you’re particularly proud of about the process of executing this short?I don’t know if there’s anything I’d really brag about or be like, super proud of.
I think this hedge trade, for someone who’s pretty involved in crypto, would be fairly obvious. Net-net, I think I broke even because I did basically go a bit big around my short towards the end of the contest. So that made up for some of the fees I had to pay and whatnot. I’m pretty happy.
I feel like I didn’t take on any risk and I’m able to go to this dinner. That’s probably a win in my books. One thing is, if I had real capital, I would have tried to make the top 25. That requires a lot of money, which I don’t have. I don’t really care about seeing Trump at all. I care more about seeing who else is there, of the top 25I think it’s like a couple million.I think you’d have to have 200,000 tokens, so yeah, roughly like two, three million USD. 
And if you want to not take on the risk of the token price moving, you’d want to take a short position of roughly the same size. It would be like a four or five million dollar capital outlay to make it happen. But the benefit of being in the top 25 is you get to meet Trump, and also get to be in a more intimate networking session, which I would actually enjoy being at. I don’t really care about seeing Trump at all. I care more about seeing who else is there, of the top 25. What was the minimum size of the wallet that made 220, do you know? It’s hard to say because what someone could have done is they could have bought a lot initially, and then halfway through they sold most of them, because they were pretty confident that they would make the top 220, because it’s time weighted. [Calculating out loud omitted.] I guess only fifty thousand [if you held the total amount from day one through the end].Honestly, that’s not a lot. It’s not. 
Realistically that number is probably higher. The thing is, this is not like a $50,000 disbursement where you’re never seeing that money again. After the dinner, you could choose to sell your token. Now, maybe the price will have moved from when you first bought it to when you sold it, but the actual loss, or potentially profit, is not obvious.Oh, that makes this some really interesting campaign finance implications. I guess the one thing I’ll say is, the Trump team probably won’t sell for a couple months at very least. And so whatever happens between now and then theoretically doesn’t really impact the team, right? Because if they had not launched this dinner contest and they did nothing, and then right before the unlock happens, they launch another campaign or they do something weird like this, then that will immediately pump up the price because crypto is so reflexive. And they can then sell into the strength of the price movement, theoretically. But here, I think what they want to do is actually show that this $TRUMP token has utility, and that it’s actually useful rather than just being a meme coin. And this is one way of making the $TRUMP token worth holding, because it’s not just a meme. If you buy it, you can go to dinner, you can earn points. You can get an NFT. It’s basically the playbook that a lot of folks will potentially run if they’re launching a meme coin with utility value. Oh, utility value is definitely a good way of saying it. Yeah, utility value in the sense that yeah, you can go to dinner, you can get an NFT, you can earn points that will get you something in the future. But yeah, this is a little bit different from memes like Pepe or Doge or Shiba Inu. Those have zero utility values. They’re literally just a meme. You can’t go to a dinner if you own a lot of it. It’s just a meme. The morning after the dinner:How are you? How was your crazy night out?It was good. And yeah, there was a sponsor who wanted to do an afterparty afterwards. They basically rented out the rooftop bar on top of the Marriott. I stayed out until 1 AM. But it was good. The actual event was quite interesting. The protests outside the dinner obviously were just kind of off-putting. I was like, damn, should I really walk into this thing?Activists staged an “America Is Not For Sale” protest while President Trump hosted the winners of his meme coin contest at the Trump National golf club. Getty ImagesI’ve actually never been to the Trump National. How is it as a venue? It’s on the Potomac River. When you are in the club you can see the really nice golf course and then the river is right there. The room was long and the podium was right up in the front and the tables were almost set up in a way where there were many rows of tables, but not that many columns, if it makes sense.I didn’t recognize this until maybe like, after an hour in, but people started taking seats because they wanted to be closer to the podium. And eventually, I’m like, damn, I gotta get a seat. But all that didn’t end up mattering because when Trump walked in, basically like a celebrity, everyone rushed up to the front and pulled out their phones and started recording. Who did you meet that was interesting or fun?Justin Sun was there, it was just that everyone wanted to talk to him. I guess the only thing I could do was just say hi to him. There were a bunch of international folks. A few folks were from Poland, who came all the way here from Portugal, where they now live. There was a lot of Asian people there. I met some folks from South Korea. Some guys from France, Italy. There was this hedge fund manager from Croatia who came just to check this out. Some guy from Sweden.There were also some market-making firms, like really big in crypto, like Wintermute. And then another guy who works at Kronos Research. The organizers also brought some folks, like the founder of the Moonshot app. I guess Moonshot had partnered with folks with the $TRUMP launch back in January. He said he didn’t buy any tokens because none of the employees are allowed to trade [the meme coins on their own platform, because it would be a conflict of interest], and so he was just invited by the organizers.[According to Crunchbase, Moonshot, an app that enables users to purchase meme coins, was acquired by Jupiter, a Solana trading platform. No named individuals appear to be publicly associated with either enterprise, although Jupiter’s founder is apparently someone going by the name “Meow.” The guest interviewed by The Verge did not recognize Meow from photos. – Ed.]There were a bunch of folks in the crypto ecosystem, now that I think about it, who actually had effectively insider knowledge that Trump was gonna launch a coin. They didn’t know exactly what that was gonna be, but they knew it was coming and it was gonna be a real coin.
For the first hour or two [after the announcement], people were wondering if Trump’s account got hacked. I just thought that was interesting, that it was effectively prewired to a lot of folks. Ah, so like: if those people knew, then they had that first mover advantage for that full hour – that it was a legitimate coin?Yeah, the public didn’t know whether it was an intentional drop or if some hackers hacked the Twitter account. I ended up meeting one of the top winners, and he was telling me how he hedged his tradeDid you find any really diehard MAGA people there?I’m sure that there were a couple of folks.
I just never got a chance to speak with someone who’s like, super pro-Trump. I’d say the majority of people I spoke with, particularly the crypto traders and folks who are very close to the crypto ecosystem are like, yeah, I dumped this. I already sold the coin. A lot of people put on the same hedge trade as I did, because they didn’t wanna take risk on the coin. I ended up meeting one of the top winners, and he was telling me how he hedged his trade. So effectively, he was taking on no price risk. Now the only thing is when you short these tokens, there’s a funding cost, but because he had such a big position the funding was actually pretty significant. 
So he said he paid, I don’t know, like $50,000 in funding costs, but to him it was still worth it, especially since he got a watch that’s supposedly worth $100,000 if you’re in the top four. Wait, they gave out watches?
Yeah. When Justin went up and gave the speech, after that, he got the watch.Honestly $50,000 to meet the president and get a watch that’s twice that amount, is a pretty good deal. Yeah. I had no idea yet that there’s a TrumpWatches.com. I think the host referenced this — like, if you want a watch, just go on the website. I was like, this is real? And then I actually went on the website and it turned out it is. Swiss-made chrono movement – oh my God, there are so many watches. Do you see that one on the very front page? They gave out two of those as prizes for raffle winners. Oh, that’s only $500, man.Yeah, I know, right?Lame. I guess you can’t yet buy the $100,000 watch on this website. They were specially designed and they only were able to have two ready for the event, and the other two will get shipped to the winners. 
[The website currently lists the “Crypto President Tourbillon Watch” for pre-order, claiming that “only 10” have been made. – Ed.]A commemorative hat.Did people post photos or selfies, or was there a sense of discretion?There were obviously crypto traders who didn’t wanna give their real names, and some folks who were trying to be camera shy and avoid the limelight, but I feel like for the most part, people were taking selfies and they were just having a good time. And there were photographers walking around taking photos of everyone. And then at the end, this was after Trump and after all the gifts were given out, the host was like, everyone put on your hat that you got — it’s in my bag,
it’s a Trump meme dinner hat — let’s all put it on and take a photo and then hashtag “trumpmemedinner” or whatever.[The White House is refusing to release the guest list with names of attendees. The New York Times has since said that it has acquired a copy of that list.Although photos of the gifted hats have circulated on social media, no related hashtag seems to have taken off. – Ed.] Oh, okay, so they actually encouraged you to put it on the Internet. 
I guess the host took the photo and it was like a selfie or something. The other funny moment was during the Trump speech. For the most part, it was just him talking about his campaign, and about how he beat Biden, and blah, blah, blah, how we were in a terrible place with crypto before he got elected and now we’re in a great place. That sounds exactly like a thing Trump would say. That was pretty accurate. At one point, the microphone made a cracking sound and then he was like, whoops, my ear. and he made a joke referencing the assassination attempt. A poster promoting the afterparty.How did you figure out about the afterparty? Was it the official afterparty? 
A lot of folks were saying there was gonna be some afterparty exclusive to VIPs, like the top 25 holders. There were a few folks who were trying to get into this party, but then it turns out it was actually not that exclusive. This MemeCore group, the number two holder, they rented out space at the rooftop of this Marriott and effectively invited everyone. So when you were leaving the venue, they had a couple buses that would come every 10 minutes and they were like, yeah, feel free to take this bus and we’ll take you to the after-party. A lot of people ended up going. 
[On TikTok, an attendee wearing a giant mask of what appears to be the MemeCore mascot, was accused of covering his face “to hide their identities” at “Trump’s crypto bribery event.” – Ed.] How was the afterparty? Was it well funded? They had an open bar, free drinks. It was fine, nothing like that noteworthy.
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Adélie penguins walking along the Antarctic coastline.   CREDIT: Matthew Boyer. Get the Popular Science daily newsletter💡 Breakthroughs, discoveries, and DIY tips sent every weekday. If you have ever stood in front of a penguin enclosure at an aquarium–or better yet traveled to Antarctica, New Zealand, or parts of southern Africa to see them in the wild–one reality really sticks out about these flightless birds. The smell. Their guano (aka poop) is pungent and plentiful, and dark stains of guano sticking out on white ice have even helped scientists find previously unknown penguin colonies. The ammonia released from their poop also might help reduce some of the devastating effects of climate change. This gas helps influence cloud formation, which can cool down surface temperatures. The findings are detailed in a study published May 22 in the journal Nature Communications Earth & Environment. A group of Adelie penguins standing on guano-covered snow. CREDIT: Matthew Boyer. Why ammonia? Antarctic ecosystems are under serious threat due to human-driven climate change, with some penguin colonies failing to breed altogether. Warmer temperatures means less critical sea ice for penguins, sea birds, seals, and whales. Penguins are a key species in this ecosystem at the bottom of the world and also are major emitters of ammonia in the region.  Ammonia is an atmospheric gas that can increase cloud formation by reacting with gases containing sulphur. In turn, this increases the creation of aerosols–the particles that give water vapour a surface to condense upon. All of that condensation leads to cloud formation. “Aerosol particles are necessary for cloud formation; liquid water will not condense to form cloud droplets without the presence of aerosol particles,” Matthew Boyer, a study co-author and atmospheric scientist at the University of Helsinki in Finland, tells Popular Science. “Clouds influence the surface radiation budget, which affects surface temperature. Therefore, clouds impact climate change. This is true across the entire planet, not just in Antarctica.”  First author Matthew Boyer piloting a drone for data collection in Antarctica. CREDIT: Zoé Brasseur. Since higher concentrations of aerosol particles creates clouds that are more reflective of the sun’s rays, the strength of an area’s aerosol particle sources matters. “In general, the Antarctic atmosphere is a pristine environment,” says Boyer. “It’s located far away from human pollution sources, and the background aerosol particle concentrations are low as a result. New particle formation, occurring from gases emitted from natural sources (e.g., penguins and the ocean), is therefore an important source of aerosol particles in the region.” The resulting clouds can act as insulating layers in the atmosphere and those layers often help lower surface temperatures and can affect the amount of sea ice coverage. However, the specific interaction between penguins and their ammonia filled poop and the Antarctic climate is not well understood. Standing downwind In this new study, Boyer and his colleagues measured the concentration of ammonia in the air at a site located near Marambio Base, Antarctica between January 10 and March 20, 2023. When the wind blew from the direction of a colony of 60,000-individual Adélie penguins (Pygoscelis adeliae) about five miles away, the ammonia concentration increased to as high as 13.5 parts per billion. That figure is over 1,000 times higher than the baseline value that is naturally found in Antarctica (less than 10.5 parts per trillion). The ammonia enhanced the particle concentrations in the clouds up to 30 times than the background, according to Boyer. Around the end of February, the penguins migrated from the area. The ammonia concentration was still more than 100 times higher than the baseline, because the penguin guano left at the colony site still emitted the gas.  “The most surprising part for me was the strength of ammonia emissions from the penguin guano for a month after the penguins were no longer present at the colony,” says Boyer. “They left for their annual migration, but the guano they left behind in the soils continued to emit gas ammonia at ~100 times higher than the baseline.” Thousands of Adélie penguins pictured from a distance at the studied Adelie penguin rookery, located on the southeastern coast of Seymour Island on the Antarctic Peninsula. CREDIT: Matthew Boyer. This indicates that the cloud-building ammonia emissions from penguins may cover even more of coastal Antarctica. To confirm that the increase in ammonia concentration eventually affected the cloud formation, the team recorded several additional atmospheric measurements during a single day. When the wind blew from the penguin colony, the number and size of the aerosol particles recorded at the site sharply increased. Approximately three hours after the wind changed, the team saw a period of fog. The team believes that this fog was likely a result of that increased aerosol particle concentration and cloud formation.  According to the team, the data suggests that penguin poop may be helping reduce some of climate change’s effects on an ever-warming Antarctica.  “Our measurements demonstrate that these environmental and ecosystem changes will subsequently impact the atmosphere and the climate of the region,” says Boyer. “This matters, because changes to the climate/ecosystem in Antarctica can have consequences for global climate.”

Humpback Whales Can’t See as Well as Scientists Thought, and It Might Explain Why They Keep Getting Tangled in Fishing Gear Despite having big eyes, the whales can’t make out details of objects more than a few body lengths away, according to a new study Humpback whales have poorer eyesight than previously thought, according to a new study. by wildestanimal via Getty Images With large, grapefruit-sized eyes, it would make sense if humpback whales had decently strong eyesight. So, why do these intelligent cetaceans continue to become entangled in fishing gear? Scientists have dissected the left eye of a juvenile humpback and revealed the species’ eyesight is weaker than biologists previously suspected. Their results, published Wednesday in the journal Proceedings of the Royal Society B, carry implications for how humans can help humpback whales steer clear of fishing nets. When lead author Jacob Bolin, at the time studying marine biology at the University of North Carolina Wilmington, cut open the specimen with his colleagues, they found that the white of the whale’s eye was particularly thick at the back. This made the humpback’s focal length—the distance between the eye’s lens and retina—shorter than expected, as Bolin tells bioGraphic’s Marina Wang. Longer focal length usually indicates sharper eyesight, so this was one sign that humpbacks may have poor vision. Another limitation they discovered involved the number of retinal ganglion cells, which are like “the pixels of the eye,” as Bolin says to the New York Times’ Elizabeth Anne Brown. These neurons are responsible for converting the image on the retina at the back of the eye into electrical signals for the brain. The dissection revealed that humpback whales have a surprisingly low density of these cells, especially compared to humans. The whale had, at most, 180 retinal ganglion cells per square millimeter; humans, meanwhile, have up to about 40,000 in the same area. The researchers also found that the humpback whale could see at 3.95 cycles per degree (CPD), a measure of vision determined by how many pairs of black and white lines an animal can make out in one degree of visual space. Humans have much higher visual acuity, between 60 to 100 CPD, per the paper. Researchers investigate a preserved humpback whale eyeball. Michael Spencer / UNCW The team processed these observations with computer models to simulate how humpback whales see their environment. Their visualizations demonstrated that while the animals can see large, faraway shapes, like schools of fish, they can only detect smaller details within about three to four body lengths of the whale, according to a University of North Carolina Wilmington statement. (That’s about 150 to 200 feet.) Overall, humpback whale eyesight is surprisingly less sharp than what scientists had suggested it might be, given the size of their eyeballs, per a Nature research highlight. That means humpback whales might not see fishing nets until it’s too late. Researchers measuring the dissected humpback whale eye.  Michael Spencer/UNCW “[A low CPD] is bad for a human, but not bad for a whale at all,” says Thomas Cronin, a visual ecologist at the University of Maryland, Baltimore County, who did not participate in the study, to bioGraphic. Whales don’t typically need sharp vision to catch their prey, he adds. In other words, if humans’ boats and nets didn’t get in their way, the whales could get along perfectly well. “This work helps fill a major gap in our understanding of the sensory ecology of large whales, how humpbacks experience their world,” Lori Schweikert, a co-author of the study and neurophysiologist at the University of North Carolina Wilmington, explains in the statement. Elena Vecino Cordero, a biologist at the University of the Basque Country in Spain who has previously analyzed whale eyes but didn’t participate in the study, tells the New York Times that the research might even be overestimating humpback whale eyesight because of how the dissected eye may have changed after spending more than a decade in a jar. Ultimately, the researchers suggest their work could help inspire fishing net designs that are more visible to humpback whales and potentially result in fewer entanglement incidents. Get the latest stories in your inbox every weekday.

Some humpback whales are born in warmer waters. Others are born on the way. That’s what a study in Frontiers in Marine Science seems to suggest, anyway, after showing that hundreds of East Australian humpback whales are actually born mid-migration, while their mothers are still traveling to their established calving and breeding grounds.“Hundreds of humpback calves were born well outside the established breeding grounds,” said Tracey Rogers, the senior study author and a biology professor at the University of New South Wales, according to a press release. “Giving birth along the ‘humpback highway’ means these vulnerable calves, who are not yet strong swimmers, are required to swim long distances much earlier in life than if they were born in the breeding grounds.” In fact, the study shows that these calves are sometimes born in the temperate waters around Southeastern Australia, New Zealand, and Tasmania, around 900 miles south of the traditionally assumed area. Challenging the theory that humpback migration is essential for the birth of these whales, the study provides valuable information for protecting humpback whale populations in the future. Humpback Whale Mid-Migration SightingsEvery year, Eastern Australian humpbacks travel from the polar waters of the Southern Ocean around Antarctica to the tropical waters of the South Pacific Ocean around northeastern Australia. For a long time, it was thought that this winter migration enabled the birth of these whales, with the whales having to be born in these warmer waters.“Historically, we believed that humpback whales migrating north from the nutrient-rich Southern Ocean were [traveling] to warmer, tropical waters, such as the Great Barrier Reef, to calve,” said Jane McPhee-Frew, the lead study author and a biology Ph.D. candidate at the University of New South Wales, according to another press release.But in July 2023, McPhee-Frew spotted a pair of Eastern Australian humpbacks — a mother and a calf — in the temperate waters around southeastern Australia, apparently on their way to their established calving and breeding grounds. “The calf was tiny, obviously brand new,” McPhee-Frew said in the press release. “What were they doing there?”Hoping to find out, McPhee-Frew, Rogers, and a team of five other researchers studied hundreds of observations of Eastern Australian humpbacks from around southeastern Australia, New Zealand, and Tasmania. Including information from citizen scientist sightings, scientist surveys, and beach strandings, the team examined 209 observations of calves, including 168 observations of living calves, many of which were made in 2023 and 2024. Surprisingly, some of the observations were made as far south as Port Arthur, Tasmania, with many of the mothers continuing to travel north with their newborns.According to the team, these mid-migration births are probably not a new phenomenon, as records seem to suggest that they occurred in the 1800s and 1900s, too, before the collapse of Eastern Australian humpback populations due to commercial whaling. “I think it’s very likely that this pattern has always existed, but the low number of whales obscured it from view,” McPhee-Frew said in the press release. “The Eastern Australia humpback population narrowly escaped extinction, but now there are [30,000, 40,000, or 50,000] in this population alone. It doesn’t happen overnight, but the recovery of humpback whales, and the return of their full range of behaviors and distribution, just goes to show that with good policies built on good science, we can have excellent outcomes.”Protection for Whale PopulationsA mother and baby humpback whale swimming in Kiama, New South Wales, Australia. (Image Credit: Vanessa Risku (Instagram: @droning_my_sorrows))The fact that these calves can be born on their way to the mothers’ calving and breeding grounds means that the purpose of humpback migration is much more of a mystery than typically thought. Indeed, if humpback mothers can deliver babies in temperate waters, why do they travel to tropical waters every year? Though the study cannot confirm this theory, the warm waters of northeastern Australia may offer other benefits beyond birth. For instance, they might be a potentially safer space for calves to learn and grow, even if they were born elsewhere. Such benefits might make the move worthwhile, the team says, despite the risks of delivering a newborn in the midst of migration. And there are a lot of risks. Without a newborn, the trip is long, spanning several thousand miles from the South Ocean to the South Pacific Ocean, and straight through some of the busiest swathes of sea. “This means these vulnerable animals are exposed to risks like boat strikes, entanglements, pollution, and just general public unawareness,” Rogers said in the press release. And adding a calf to the mix merely increases the risk, as newborn humpbacks are slower and weaker than their mothers. “They have those long, enormous fins that they need to grow into, and they’re not very strong swimmers. So they rest a lot of the time on their mum’s back,” Rogers said in the press release. “It’s heartbreaking to think of these young whales [traveling] through busy ports and dangerous shipping lanes with those long, clumsy fins.”The injuries on some of the observed newborns stress the need to do more to protect whales as they travel, the team says. Fortunately, with better information about where these calves and their mothers appear, protected areas and awareness campaigns can be better calibrated to save whales of all ages. “Regardless of the health of population now, we can’t be in a situation where we’re putting any age of whales — especially baby whales — in a situation where they’re getting caught in nets, being exposed to chemicals, being hit by boats and being harassed,” McPhee-Frew said in the press release. Article SourcesOur writers at Discovermagazine.com use peer-reviewed studies and high-quality sources for our articles, and our editors review for scientific accuracy and editorial standards. Review the sources used below for this article:Sam Walters is a journalist covering archaeology, paleontology, ecology, and evolution for Discover, along with an assortment of other topics. Before joining the Discover team as an assistant editor in 2022, Sam studied journalism at Northwestern University in Evanston, Illinois.