Track market-moving stories before they get noisy

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Key Takeaways TAO gained 8.33% to reach $264.83, with an intraday peak of $277 — the highest level in three months Raydium introduced TAO trading pairs while Buttensor meme coin generates automatic TAO buy pressure through fee conversion Major protocol updates from V440 to V450 transformed subnet emissions, staking mechanisms, and validator structures Open interest in futures contracts surged to $434.58 million, a three-month peak, alongside 158% jump in 24-hour trading volume Critical resistance zone at $277–$280; breakthrough could trigger movement toward $300 target The TAO token from Bittensor posted an impressive 8.33% daily gain on Monday, closing at $264.83 after momentarily reaching $277 during the trading session. This intraday peak represents the token’s strongest performance in a three-month period and caps off a remarkable five-day rally totaling approximately 25%.

Bittensor (TAO) Price The upward trajectory began from a baseline near $220 on September 1. Within five days, by September 6, TAO had advanced to $265, with the subsequent trading session propelling it further toward the $277 mark.

A significant technical development saw TAO pierce through a downward-sloping trendline that had previously rejected multiple upside attempts. According to CoinGlass analytics, futures trading volume exploded to $868 million over 24 hours — a substantial 158.61% increase — while aggregate open interest climbed to $434.58 million.

Raydium, the prominent Solana-based decentralized exchange, recently integrated TAO trading functionality, effectively bridging the AI-focused token with Solana’s extensive DeFi ecosystem. This integration was quickly followed by the emergence of Buttensor, a meme-inspired token launching on the same platform.

🚨BITTENSOR RIPS AFTER MEMECOINS START PAIRING AGAINST IT!$TAO is near $268 after hitting $277.

StonkFun opened Solana memecoin pairs against $TAO, with $BUTTENSOR taking off first.

The coin printed millions in volume in hours, and a cut of each transfer is also used to buy… pic.twitter.com/7B5uLNPGBy

— Crypto Banter (@crypto_banter) September 7, 2026

The Buttensor project employs an innovative tokenomics model that automatically converts all transaction fees into TAO purchases, which are subsequently redistributed among BUTT token holders. This structure generates consistent buying pressure for TAO correlated with meme coin trading volumes.

Data from Santiment indicates TAO’s social dominance metric expanded from 0.05% to 0.12% in the wake of these launches. Additional momentum built as ChatGPT-6 Astra’s unveiling redirected market attention toward AI-linked cryptocurrency projects.

Market analyst DamiDefi highlighted on X that Gittensor’s RTX 5090-optimized Qwen3.8-27B model crossed the 500,000 download milestone on Hugging Face this week. He further emphasized the Good Morning initiative’s integration of GPT-6 Astra into Bittensor with verifiable access protocols, characterizing $TAO as “transforming OpenAI into a practical tool for developers.”

Significant Protocol Enhancements Drive Fundamental Strength Throughout August and continuing into September, Bittensor implemented a series of substantial protocol improvements. Version 440 deployed an Emission Gate mechanism that connects subnet reward distributions to market-driven demand benchmarks.

Subnets exceeding the demand threshold maintain price-correlated emissions, while underperforming subnets experience allocation reductions approaching zero. Subsequent releases including V441, V446, V447, and V448 fine-tuned root staking parameters, alpha calculation methodologies, and subnet governance frameworks.

Version 450 advances toward a validator-curated root basket system incorporating a 1/16 concentration limit, engineered to achieve more balanced exposure distribution across eligible subnets.

TAO’s ecosystem reach expanded through Chainlink’s cross-chain interoperability framework, now extending to Robinhood Chain. The network has scheduled the Bittensor Exploit Summit for September 28-29.

Current Technical Picture and Price Outlook Crypto analyst CryptoPatel shared on X that $TAO has appreciated 89% from the floor of his designated accumulation range. He reaffirmed his long-term price target of $3,000 and identified $300–$350 as the immediate zone to monitor for potential “bullish expansion.”

$TAO +89% RALLY | FROM ACCUMULATION TO BREAKOUT | $3,000 STILL POSSIBLE?#TAO Finally Started Moving. We’re Already ~89% Up From The Bottom Of Our Accumulation Zone.
Hope Your Patience Is Finally Paying Off. Enjoy The Ride.

But I’m Not Calling The Top Yet.
The Original $3,000… https://t.co/a8mbeGCHfG pic.twitter.com/bvwfRIiuIX

— Crypto Patel (@CryptoPatel) September 7, 2026

The $260–$265 range has established itself as support following the trendline breakout. Immediate resistance materializes at $277–$280, with $300 representing the subsequent upside target.

The $434.58 million in open interest marks a three-month high and signals heightened leveraged participation in TAO markets.

AI-themed tokens have recently seen renewed capital rotation. Bittensor [TAO] is in the middle of fresh market demand. In fact, the market cap of AI coins jumped by 5% to $19 billion while trading volume skyrocketed by 18% to $3.97 billion.

Amid this sector-wide capital flow, TAO has shown strong upside pressure, extending its upsurge after previously flipping $250 to reach a high of $277. The coin has not reached these levels since June.

As of this writing, Bittensor was trading around $272, up 13.4% on the daily charts. At the same time, market cap crossed $3 billion while the trading volume rose 164% to $558 million. 

TAO pumped strongly as it went live on Raydium. The integration connected decentralized AI infrastructure with Solana’s DeFi capital. Since Raydium leverages Solana’s user base, with the integration, TAO now has a wider user base. 

One area that TAO benefits the most is integration with memecoin  launchpads, especially StonkFun. In fact, after it went live, a Bittensor memecoin was launched on Solana called BUTT. 

BUTT’s market cap rose to over $6 million. However, BUTT’s holders had to swap to TAO first, which in turn drove the price for TAO. 

Demand for Bittensor on the rise again Incentivized by the expanded reach, investors have increased capital deployment significantly. On the Spot side, for example, the market has recorded a positive delta for five consecutive days. 

Source: Coinalyze Coinalyze data showed that Bittensor recorded 265k in buy volume with the buy/sell delta rising to 24k. This indicated buyer dominance on the Spot market.

On the derivatives side, traders have also increased participation. In fact, the altcoin’s Open Interest surged $428 million, marking a four-month high.

Source: CoinGlass With OI rising to May levels, it suggests traders have opened new positions, both shorts and longs, a clear sign of increased speculation.

Historically, strong speculative demand and Spot accumulation have strengthened momentum, leading to more gains on the price charts.

Is the uptrend sustainable? Bittensor is under strong bullish pressure amid renewed market interest and capital rotation. The expanded user base with the memecoin launch on Raydium has strengthened the uptrend.

A look at the MACD showed that the momentum indicator formed a bullish crossover and climbed to 10. At the same time, the Awesome Oscillator rose to 22, holding green for two consecutive days.

Source: Tradingview Rising MACD and AO reflect buyer dominance in the market. Often, such a setup has resulted in some more gains.

Therefore, if the market conditions hold, Bittensor will close above $280 and eye the $300 resistance level. However, if the speculation around Raydium integration fades, TAO will retrace to $234.

Final Summary TAO surged 13%, to reach a three-month high of $277, then retraced to $267 at press time. The main catalysts were Raydium’s integration and the launch of BUTT memecoin, which brought in more demand. 

Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.

Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.

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Raydium has expanded LaunchLab to support trading between any token pair, with LaunchOnSF’s StonkFun becoming the first integration to use the new system on Solana.

Summary

Raydium LaunchLab now allows newly launched tokens to be paired with any supported quote token on the platform. StonkFun has become the first integration to use the new model after changes to Raydium programs, aggregators and trading terminals. StonkFun said deployment costs have fallen to 0.03 SOL from 0.29 SOL, while liquidity fees can be directed back into liquidity. The upgrade expands LaunchLab more than a year after Raydium introduced the platform following Pump.fun’s move to its own PumpSwap exchange. According to Raydium’s Sept. 7 announcement on X, LaunchLab can now pair a newly launched token with any quote token supported through Raydium, removing the fixed pairing structure used by many token launch platforms. Raydium said the upgrade brings more flexible token pairing, deeper liquidity and lower fees for memecoin trading.

LaunchLab now supports any token pair on Raydium.

The upgrade brings flexible pairing directly to Solana, with deeper liquidity, lower fees, and stronger meme-native trading.@LaunchOnSF is the first integration partner to bring the model live on LaunchLab. pic.twitter.com/c3NFuYCRWI

— Raydium (@Raydium) September 6, 2026 LaunchOnSF confirmed that its StonkFun platform is the first integration partner to bring the feature live. Its team spent the previous week preparing the integration, which required changes across Raydium’s programs, trading terminals and aggregators before custom quote tokens could be supported.

Raydium LaunchLab now supports custom token pairs Under the new system, creators can select the quote token used for a LaunchLab deployment, allowing communities to build markets around assets other than the standard quote tokens commonly used for new Solana launches.

Raydium described the feature as the ability to launch “any token, paired with any quote token.” LaunchOnSF said Raydium updated its programs to accommodate custom quote and reward tokens, while aggregators and trading terminals needed to support routing for the resulting pairs.

The integration covers permissionless deployments, bonding curves and constant product market maker pools. LaunchOnSF said deployment costs through StonkFun have been reduced to 0.03 SOL from 0.29 SOL, while liquidity provider fees can be directed back into liquidity.

Developers do not have to use the StonkFun API to deploy tokens and can construct transactions themselves. LaunchOnSF said the system was built to reduce problems it had encountered with snipers and launches concentrated in a single wallet.

Ahead of the integration, StonkFun reported more than $392 million in total trading volume, including roughly $219 million routed through Raydium. The platform had generated $1.21 million in revenue and distributed more than $5.35 million in rewards to ecosystem holders.

More than $705,000 had been spent on buybacks and burns of its ecosystem token, while another $68,000 went toward buying and burning tokens from its 10 largest ecosystem projects, according to figures published by LaunchOnSF.

LaunchLab followed Pump.fun’s move away from Raydium Raydium first disclosed LaunchLab in March 2025 after Pump.fun began working on its own automated market maker. The platform offered creators different pricing curves and allowed third party interfaces to build on the underlying infrastructure and set their own transaction fees.

Crypto.news previously reported on Raydium’s LaunchLab plans in March 2025. An anonymous Raydium developer said at the time that the product had been under development for several months but had initially been kept on the sidelines while Pump.fun continued using Raydium for liquidity.

LaunchLab officially went live in April 2025, allowing users to create, customize and trade tokens through Raydium. Projects crossing the original 85 SOL threshold were automatically moved into Raydium’s automated market maker.

Raydium introduced customizable bonding curves, no migration cost and a 1% trading fee under the initial model. The protocol said 25% of trading fees collected through LaunchLab would be used to buy back RAY.

More than 10 projects had passed the 85 SOL threshold shortly after LaunchLab opened, while RAY rose roughly 13% following the launch before giving back part of the move.

LaunchLab arrived after Pump.fun changed a relationship that had directed a steady flow of newly created memecoins toward Raydium.

Tokens launched through Pump.fun had historically moved into Raydium liquidity pools after completing their bonding curves. Pump.fun began testing its own automated market maker in February 2025, opening a path for graduated tokens to remain inside its own trading infrastructure.

PumpSwap ended Pump.fun’s reliance on Raydium Pump.fun formally moved away from the previous setup when it launched the PumpSwap DEX in March 2025.

Built around a constant product automated market maker similar to Raydium v4 and Uniswap v2, PumpSwap allowed tokens completing Pump.fun bonding curves to migrate directly to its own liquidity pools. Users could create pools, provide liquidity and trade tokens without sending graduated launches to Raydium.

PumpSwap introduced instant migrations and removed the six SOL migration fee previously associated with the process. The platform initially charged 0.25% on trades, allocating 0.20% to liquidity providers and 0.05% to the protocol.

Trading activity climbed quickly. PumpSwap captured 21% of Solana DEX trading about a week after launch, with cumulative volume exceeding $1.2 billion. Raydium remained ahead with a 57.4% share at the time.

By March 30, PumpSwap had recorded $2.43 billion in volume, alongside $5.4 million in protocol fees, around 700,000 active wallets and 30.59 million swaps. Raydium accounted for 74% of Solana DEX volume on that date, compared with PumpSwap’s 8%.

Raydium had entered the contest from a strong position in memecoin trading. A CEX.io report showed its memecoin volume share rising from 77% to 83% during the first quarter of 2025.

Pump.fun was responsible for more than half of daily SPL token creation at the time, with tokens previously flowing into Raydium after meeting Pump.fun’s graduation requirements. That pipeline changed once PumpSwap began taking the migrations directly.

Raydium remains a major Solana trading venue Despite heavier competition among Solana exchanges and launchpads, Raydium has remained one of the network’s largest execution venues.

Across 2025, the protocol processed $352.8 billion in execution layer DEX volume. Meteora followed with $113.7 billion, while Orca and SolFi recorded $103.9 billion and $97.9 billion, respectively.

More recent activity has remained spread across several Solana venues. On Aug. 21, 2026, Solana generated approximately $2.8 billion in daily decentralized exchange spot volume. PumpSwap processed roughly $485 million, followed by BisonFi at $466 million, Orca at $307 million, Raydium at $260 million and Manifest at $218 million.

The five platforms together accounted for approximately $1.74 billion of the network’s daily total.

LaunchLab’s latest update changes the type of markets that can be created through Raydium’s launch infrastructure. Instead of requiring creators to launch against a predetermined quote asset, StonkFun deployments can select another supported token and carry that pairing through the bonding curve and subsequent liquidity setup.

Raydium ecosystem contributor Infra said the structure lets a community pair a meme token with another asset its users already follow and use the same asset for rewards. LaunchOnSF became the first partner to put that model into production through StonkFun following the Sept. 7 rollout.

STONK, the token associated with Solana launchpad StonkFun, surged on Sunday after the platform announced an integration with Raydium's LaunchLab.

The token traded near $0.16 around 4:30 p.m. ET, up more than 250% over the last 24 hours, per CoinGecko data. Its market capitalization stood at roughly $140 million, with about $135 million in daily trading volume. STONK earlier on Sunday reached its all-time high price of $0.212 before giving back some of its gains. 

StonkFun allows users to create tokens paired with other assets, including tokenized stocks and exchange-traded funds. Its own STONK token is paired with SPYx, a token from Backed designed to track the S&P 500 through the SPDR S&P 500 ETF. The platform also lists pairs involving other cryptocurrencies, currencies and commodities.

Pairing a token with SPYx would mean traders exchange it against the tokenized ETF in that pool. The token's dollar price reflects both SPYx's value, which itself tracks the S&P 500, and the token's own exchange rate against SPYx, which changes as traders buy and sell. The token's price can therefore fall even when the ETF rises, and the pairing gives holders no claim on the underlying shares.

While a memecoin paired with SPYx trades against a tokenized ETF product, the pairing does not itself give the memecoin holder a claim on shares of the fund. StonkFun's stock pairings use products with different rights from conventional shares, including xStocks, which are issued by Backed Finance and provide exposure to underlying equities without ownership or shareholder voting rights. Kraken announced an agreement to acquire Backed Finance in December 2025.

Raydium integration StonkFun announced on Saturday that new deployments would launch through Raydium's LaunchLab, "with cheaper deployment costs, reduced sniper risk, and compounding liquidity after bonding." 

LaunchLab, similar to other token launchpads, initially only lets buyers and sellers trade against a bonding curve. Once a token reaches a graduation threshold, its liquidity migrates to a Raydium pool, where trading continues through Raydium and other aggregators. Raydium introduced LaunchLab in April 2025, shortly after Pump.fun launched its own decentralized exchange, PumpSwap.

Raydium's native token RAY and DEX aggregator Jupiter's native token JUP also rallied on Sunday. RAY traded around $1.27, up roughly 46% over the last 24 hours, while Jupiter's token gained about 21% to $0.27, per The Block's price data.

Buybacks and launch changes StonkFun also manages a token buyback program funded by trading fees. The project's flywheel page says a share of trading fees from v3 pools goes toward buying and burning the platform's 10 largest tokens by market capitalization. Purchases are weighted by market cap and run every few minutes.

Currently, tokens paired with ZCash (ZEC), Hyperliquid (HYPE), and Bittensor (TAO) occupy the top three slots. 78 different tokens have been bought and burned through the program, according to the project's website. 

The LaunchLab integration follows some user complaints about the platform's token launches. In a Sept. 2 post, StonkFun said the update would address sniping, single-wallet launches and deployment costs. It also said it had temporarily increased maximum developer buys to discourage snipers.

The platform drew attention from Solana's official X account on Friday, which replied to a StonkFun post: "We stand behind Stonk Tokens."

WLFI advisor Ogle is the actual top holder of PONS, holding 15.28 million PONS at an average price of $0.1.

According to EmberCN's monitoring, WLFI advisor ogle's PONS holdings are not the 10.96 million units shown on FOMO, but 15.28 million units valued at $13.92 million. He also holds 4.32 million PONS in another address, worth $3.86 million. Ogle is actually the top PONS whale, having accumulated a total of 15.28 million PONS at an average price of $0.1 per unit, with an unrealized profit of $13.77 million, marking an 87x gain. The relevant addresses are: 0x1Bcc5f67CD17e13770F199fA03bC043b0cde1143; 0x825F23921dCFf36944d8B0b0CA23ac7D05fB86cB

5 minutes ago

OpenAI Simultaneously Recruits Schumer’s Daughter and Veteran Republican Operative to Focus on U.S. State AI Policies

From Beating AI Express News: OpenAI has appointed three new state-level policy heads, with Jessica Schumer drawing the most attention. She is the daughter of US Senate Minority Leader Chuck Schumer, previously served as chief of staff at the Obama administration’s Council of Economic Advisers, and later led Amazon’s public policy work in New York. At OpenAI, she will oversee policy and partnerships in the US Northeast. Another new hire, Caulder Harvill-Childs, previously worked in public policy at Meta and also served Republican Georgia House Speaker Jon Burns; he will now be responsible for the US Southeast. Thomas MacLellan will handle state-level cybersecurity policy, with prior experience at firms including Palo Alto Networks, Symantec, and FireEye. OpenAI is shifting more focus to US states, a strategy it terms "reverse federalism": instead of waiting for Congress to enact uniform legislation, it is pushing major states like California and New York to adopt similar AI rules, eventually forming de facto national standards. OpenAI publicly noted that California, New York, and Illinois have already started aligning on frontier AI safety rules.

5 minutes ago

StonkFun completes a $1 million buyback of STONK tokens; its platform token STONK surpasses $100 million in market cap today.

Solana-based token launch platform StonkFun announced it has completed a $1 million STONK token buyback, while over $7.5 million in rewards have been distributed to holders in the StonkFun ecosystem. StonkFun also announced it has launched on Raydium LaunchLab. Going forward, all new StonkFun token deployments will be initiated via LaunchLab to lower deployment costs, reduce sniper risks, and enable automatic liquidity compounding after binding is completed. According to GMGN market data, StonkFun’s platform token STONK surpassed $100 million in market cap today, currently trading at $92 million, with a 256% 24-hour gain and $30.4 million in trading volume over the same period. BlockBeats reminds users that related token prices are highly volatile, so investors should exercise caution.

5 minutes ago

Word has it that the first checkpoint of Google's new Pro model has emerged, with a possible public release in October.

Beating AI Express News: Leaker Lyra claims Google’s next Pro model already has its first checkpoint (a saved model state version from training) and is set to be unveiled in October. Lyra also predicts a new Flash-Lite launch in September, alongside an update to Nano Banana 2 Lite. The final name for the new Pro model remains unconfirmed; some community members speculate it could be Gemini 4 Pro, while others believe it may be another Pro variant.

5 minutes ago

Leading DeFi researcher questions Ethereum’s Layer 2 strategy: Robinhood’s revenue has surged, yet Layer 1 settlement layer revenue remains low—Is this a problem?

Renowned DeFi researcher Ignas points out that Robinhood’s Layer 2 (L2) network paid just around $722 to its underlying base layer yesterday, while Robinhood itself posted a record $6 million in fee revenue that same day—roughly 10% of which went to Arbitrum, with nearly negligible amounts reaching Ethereum’s Layer 1 (L1). Against this backdrop, Ignas questions: Is this structure, where platforms rake in massive profits while the settlement layer gets almost nothing, actually a problem for Ethereum? Ethereum may currently be using low fees to onboard TradFi players into its ecosystem, planning to raise revenue shares once user migration costs become sufficiently high. If Ethereum’s official roadmap does include a strategy of first attracting a large number of L2s, then monetizing on L1 after switching costs rise, this could be positive for ETH—but such an approach is not visible in Ethereum’s current roadmap.

5 minutes ago

Base-based meme coin Basecat hits a market cap of $83 million, reaching an all-time high.

According to GMGN market data, the meme coin Basecat on the Base blockchain hit a market cap of $83 million, an all-time high. It rose around 38% in 24 hours, with trading volume of $7.6 million over the same period. Coinbase previously launched spot trading for BASECAT. Basecat is a well-recognized cat-themed meme in the Base ecosystem, and has regained capital attention as sentiment around multi-chain memes warms. BlockBeats reminds users: Most meme coins have no practical use cases and are highly volatile. Please protect your assets and avoid FOMO.

5 minutes ago

WSJ: Raydium Semiconductor 2Q Net Profit NT$344.0M Vs NT$265.9M

Raydium, one of the top 10 most influential DeFi protocols according to Fortune, debuted Permissioned AMMs yesterday, July 23. Permissioned AMMs introduce a new framework that enables issuers of KYC-gated and regulated assets to launch directly on Raydium, accessing Solana’s deepest liquidity while maintaining compliant secondary markets. Superstate became the first partner to integrate the infrastructure, bringing tokenized equities into Raydium’s liquidity ecosystem.

The launch marks another step in the race to build infrastructure for regulated assets on public blockchains. As tokenized stocks, funds, and real-world assets gain attention, protocols are adapting traditional DeFi tools to meet compliance requirements.

Raydium Adds Compliance Controls to AMM Trading Traditional AMMs allow anyone with a wallet to provide liquidity or trade assets. That model works well for crypto-native tokens but creates challenges for regulated assets that require investor verification and transfer restrictions.

Raydium’s Permissioned AMMs add an access-control layer to its existing liquidity infrastructure. Instead of allowing any wallet to interact with a pool, the system verifies whether a wallet meets issuer-defined eligibility requirements before allowing trades.

The framework combines 3 core components:

Issuer-managed KYC, where asset issuers determine which participants qualify.

Programmatic enforcement, where smart contracts restrict pool interactions to approved wallets.

Immutable smart contracts, which provide transparent and verifiable execution.

Eligible investors can trade only with verified counterparties, while issuers maintain control over participant access.

Superstate Brings Tokenized Equities to Raydium Superstate became the first service partner to integrate Raydium’s Permissioned AMMs. The company operates Opening Bell, a platform designed to issue publicly registered tokenized equities directly on blockchains.

Unlike synthetic products that track stock prices without representing direct ownership, Superstate focuses on natively tokenized securities where the token represents the underlying security.

Superstate has developed infrastructure that tracks ownership changes across DeFi environments, including automated market makers and lending protocols. The company has also worked with protocols such as Uniswap, Orca, Aave, Morpho, and Kamino to support regulated asset activity onchain.

Through Raydium’s integration, approved investors can trade tokenized equities through Permissioned AMMs while Superstate manages ownership records and compliance requirements.

Raydium Joins a Broader Shift Toward Permissioned DeFi Raydium is not the only major DEX moving toward compliance-focused infrastructure.

On May 27, Orca launched permissioned pools on Solana in partnership with gold tokenization firm Streamex. Orca’s system uses Solana token extensions to enforce transfer restrictions and connect investor eligibility with onchain activity.

Uniswap Labs also announced Permissioned Pools yesterday, July 23. The feature introduces a hook standard for Uniswap v4 that allows pools to verify approved wallets directly through smart contracts rather than relying on frontend restrictions or offchain checks.

These launches highlight a broader industry trend: regulated assets require more than a place to trade. Issuers need infrastructure that combines blockchain transparency with controls required by securities markets.

Tokenized Assets Target a Trillion-Dollar Market The push toward compliant onchain markets comes as interest in tokenization continues to grow. In its Big Ideas 2026 report, Ark Invest estimated that the global market for tokenized assets could grow from $19 billion to $11 trillion by 2030, representing around 1.38% of all financial assets.

Solana has also seen rapid growth in its real-world asset ecosystem. The network recently became the blockchain with the highest number of RWA holders, reaching 311,000 holders, $3.5 billion in RWA value, and more than 2,500 types of tokenized assets.

Read More on SolanaFloor Mubadala Capital to Launch $75M Tokenized Fund on Solana via Kaio
Are the Trenches Back?: 62K Dormant Wallets Return as Memecoins Capture $2B in Volume

What's Next For Crypto If CLARITY Fails?

Intel stock just got the blockchain treatment. Backpack Securities has launched a tokenized version of $INTC on Solana through its Sunrise tokenization protocol, making the chipmaker’s equity tradable around the clock on decentralized exchanges.

The move adds Intel to a growing roster of traditional stocks that now live natively on Solana, a list that already includes SpaceX ($SPCX), Micron ($MU), and Robinhood ($HOODx).

What the tokenized Intel offering actually looks like Each tokenized INTC token represents a 1:1 claim on an underlying Intel share. Those shares are held in custody and the tokens are structured to be eligible for corporate actions under New York’s UCC Article 8. If Intel pays a dividend or does a stock split, token holders aren’t left out in the cold.

The tokens trade on Raydium, Solana’s largest decentralized exchange. Early trading data shows a total supply of approximately 6,151 tokenized INTC tokens, with the underlying Intel shares priced around $103 to $104 per share.

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Daily trading volume for the tokenized INTC sits at roughly $14.6K, with liquidity of about $199K.

Backpack’s bigger play in tokenized equities Backpack Securities, founded by former FTX employees, has been building toward this moment since launching the Sunrise protocol in June 2026. The platform lets users exchange regulated securities for native Solana tokens, bridging traditional brokerage accounts and DeFi.

Total tokenized securities volume on Backpack has reached approximately $1.5B monthly. Daily trading highs for platform-wide tokenized equities exceeded $187M in mid-June.

The SpaceX token has been a particular standout. SpaceX doesn’t trade on public markets, so tokenization gives retail investors access to something they couldn’t buy before. Intel, by contrast, is available on every brokerage app. The value proposition is different: it’s about composability and 24/7 access rather than exclusivity.

Why this matters for the RWA tokenization market Backpack has structured these tokens under established securities frameworks, giving them a different legal footing than the synthetic stock tokens that Binance and FTX experimented with in 2021 before regulators shut them down. The UCC Article 8 compliance is specifically designed to ensure token holders have the same legal protections as traditional shareholders.

The $1.5B monthly volume across Backpack’s tokenized equities platform suggests genuine market demand. That volume figure puts the platform in the conversation with some mid-tier centralized exchanges.

Smart contract risk and platform risk layer on top of normal equity market risk. A $199K liquidity pool for Intel is fine for retail experimentation, but it’s a rounding error for any fund.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.

Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.

Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.

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Citi has raised its Sandisk price target to $2,500 from $2,025, sending SNDK shares up roughly 22% in the last 24 hours. The chipmaker has rallied approximately 4,800% over the past 12 months on AI-driven NAND demand.

The upgrade adds fresh institutional firepower behind one of the most explosive Wall Street stories of 2026.

Why Citi Raised Its Sandisk Price TargetA price target is the level an analyst expects a stock to reach over a defined horizon, typically 12 months. Citi analyst Asiya Merchant lifted her Sandisk target by nearly 24%, signaling roughly 30.6% additional upside while keeping a Buy rating on the chipmaker.

The catalyst came from Micron’s blowout fiscal third quarter. Furthermore, NAND bit shipments rose mid-single digits sequentially, while average selling prices surged in the mid-80% range, confirming the depth of the supply tightness now reshaping the entire memory chip industry.

Follow us on X to get the latest news as it happens.

Update: SanDisk is spiking after a Citi analyst raises price target from $2,025 to $2,500$SNDK is now up ~780% since Leopold Aschenbrenner disclosed a $12.9M stake

He first disclosed the position in November 2025 at ~$254/share pic.twitter.com/envHzUpQiZ

— Leopold Stock Tracker (@LeopoldTracker_) June 25, 2026 Merchant pointed to a clear structural setup. NAND industry demand is now outpacing supply, with that imbalance expected to persist well beyond 2027. AI workloads, especially in data centers, are driving most of the new demand across enterprise SSDs and adjacent storage products.

Citi also opened a 90-day short-term upside view on Sandisk shares. The bank flagged three near-term catalysts. Industry earnings, the Flash Memory Summit in August, and SanDisk’s investor day during the same month should all further sharpen sentiment across the sector.

Sandisk’s own numbers add weight to the bullish call. The company posted $5.95 billion in revenue last quarter, up 97% sequentially. Moreover, data center revenue alone grew 233% quarter over quarter, while more than one-third of fiscal 2027 bit output is already locked under multi-year contracts.

On the other hand, decentralized exchanges Raydium and Jupiter have added Sandisk to their roster of tokenized stocks. The listing reflects the rising appetite among crypto traders for exposure to the year’s top-performing equities.

What the 4,800% SNDK Rally Tells the MarketSandisk has emerged as the best-performing stock in the entire S&P500 in 2026. Shares are up roughly 727% year-to-date, while the 12-month run from a low near $40 to recent highs above $2,335 marks an extraordinary 4,800% advance.

The rally tracks a structural shift in NAND economics. AI infrastructure spending has rewritten the demand curve. As a result, data center operators now rely heavily on cost-efficient SSDs to offload workloads, such as KV cache, a use case that did not exist in a meaningful way 18 months ago.

The Wall Street chorus has turned overwhelmingly bullish. Veteran trader Stephen “Sarge” Guilfoyle also raised his own Sandisk target to $2,600 from $2,425. Furthermore, the stock currently has a Strong Buy consensus rating on TipRanks, based on 14 Buy ratings and only 2 Hold ratings.

Sandisk Corporation (SNDK) Price Performance – 1 Year. Source: TradingViewRisks remain real despite the conviction. SNDK trades at an elevated trailing P/E of 65 to 76 times earnings. Moreover, the stock recently fell 13.64% in a single session during a broader tech selloff tied to the Korean Kospi crash, showing how exposed the name remains to volatility.

For Citi, the bigger picture still favors the upside thesis. Bit supply growth across the NAND industry is projected at roughly 20% for 2026, while Micron itself expects its own supply growth to come in below that figure.

Bitcoin, Raydium, and Frax dominate crypto discussions as volatility, governance changes, and major BTC acquisitions drive market sentiment.

According to Santiment, Bitcoin (BTC), Raydium (RAY), and Frax (FRAX) are currently at the center of social media discussions.

Much of the growing discourse is focused on market volatility and governance changes within the crypto ecosystem.

The Top 3 Trending Tokens Santiment’s February 25 report reveals that BTC is getting attention due to a recent acquisition from Michael Saylor’s Strategy (formerly MicroStrategy).

The firm purchased 20,356 BTC for approximately $1.99 billion, increasing its total holdings to 499,096 BTC bought for around $33.1 billion. This investment, alongside a yield of 6.9% YTD 2025, has been widely discussed within the crypto market, particularly regarding its impact on the asset’s price fluctuations.

RAY is trending following a recent 29% decline in  a day and a 50% slump since Friday that was caused by rumors of a competing platform launching its own automated market maker (AMM). This speculation has raised concerns over liquidity shifts within the Solana ecosystem, leading to increased investor attention toward the token.

Pump.fun is reportedly testing an AMM that, if implemented, could reduce the platform’s reliance on Raydium. The decentralized exchange currently facilitates trading for tokens launched on the Solana meme coin maker.

FRAX has also been a focal point in conversations, with debates surrounding tokenomics, governance, and inflation. Various proposals have been introduced regarding changes to the coin’s emissions, branding, and incentive mechanisms.

You may also like: Brutal Bitcoin Liquidation Cascade Imminent Below $59K, Warns Analyst Mining Profits Dry Up Across Bitcoin, DOGE, LTC, and BCH Saylor Should Stop Buying Bitcoin, Says CryptoQuant Ongoing discussions are centered on the token’s inflationary nature and relationship with FXTL and the potential impact these changes could have on its value and utility within the market.

Other Trending Cryptocurrencies on Santiment’s List The blockchain analytic firm also highlights Ethereum (ETH), Frax Shares (FXS), and Kendu Inu (KENDU) as trending digital assets. ETH has seen increased discussions following its association with GrokAI3.0, a new project focused on advancements in AI technology and its potential financial implications.

FXS, which is linked to FRAX, has also been widely mentioned, with many raising concerns about its potential dilution and implications for liquidity and value.

On its part, KENDU has gained attention as part of a growing community-driven approach to digital assets. According to Santiment, talks around it largely highlight the importance of strong group bonds and collective effort over speculative trading.

The token has been compared to cryptocurrencies like Shiba Inu (SHIB) and Dogecoin (DOGE), with enthusiasts emphasizing its long-term potential as the market evolves. Some believe it represents a shift toward community-focused investments rather than gambling and pump-and-dump schemes.

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Kepler Cheuvreux raises ASML’s European share price target from €1,460 to €1,830.

Kepler Cheuvreux has raised the target price for ASML’s European shares from €1,460 to €1,830.

5 minutes ago

Stifel: U.S. economy in "overheated expansion" as AI investment cycle outweighs consumer pressure

U.S. large diversified financial services holding company Stifel has raised its year-end S&P 500 target and rolled out a stock allocation framework for a "high-growth, high-inflation" environment. The firm lifted its year-end S&P 500 target to 7,800 points, noting the U.S. economy is entering a "running hot" state—where economic growth is strengthening alongside mounting inflationary pressure. Stifel’s models show U.S. growth momentum is picking up while inflation momentum is clearly overheating, a trend that will reshape the market’s leading sector structure in the second half of the year. Instead of traditional consumer sectors, Stifel’s top picks are investment-led cyclical industries, including banks, transportation, materials, energy, semiconductors, software and equipment. The firm adds that fixed-asset investment in AI remains on the rise: large tech firms including Amazon, Microsoft, Meta and Google are projected to combine for roughly $725 billion in total capital expenditures in 2026, some $100 billion higher than prior estimates. This means the AI investment chain is likely to continue outperforming the consumption chain squeezed by inflation. Stifel advises investors to reduce exposure to discretionary consumer, consumer staples, communication services and some financial services sectors, as these areas see weaker earnings revisions. Conversely, the firm favors cyclical value stocks and hedges with defensive value sectors such as insurance, autos, energy and banks.

5 minutes ago

Analyst: Micron's earnings boost overall market sentiment for the tech sector

Chris Strazzeri, Financial Trading Manager of Moomoo’s Australia and New Zealand branch, stated: “The targeted sell-off indicates that following a sustained, strong rally in AI-related and speculative growth stocks, investors are enforcing strict valuation discipline. This serves as a warning to the market that actual earnings levels must now rise to support the currently overvalued price-to-earnings ratio. Micron Technology’s post-market earnings results largely confirm this, and its robust performance has lifted overall market sentiment in the tech sector.”

5 minutes ago

2x Leveraged Long DRAM ETF (RAM) Records $383 Million in Trading Volume on Its First Day of Listing

According to Bitget market data, the Roundhill T-REX 2X Long DRAM Daily Target ETF (Nasdaq ticker: RAM) officially launched trading yesterday. On its first trading day, the fund recorded a total turnover of $383 million, and rose 29.47% in after-hours U.S. stock trading to hit $30.8. Note: RAM’s underlying exposure covers companies engaged in memory-related technologies, including DRAM, NAND and storage solutions, targeting active traders seeking leveraged exposure to the memory chip theme and artificial intelligence infrastructure development.

5 minutes ago

BCA Research raises its S&P 500 target to 8,100 points, with AI remaining a core variable.

BCA Research has become the latest strategy firm to raise its US stock market target, reflecting Wall Street’s growing optimism about earnings support for US equities in the second half of the year. The institution lifted its year-end S&P 500 target from 7,700 points to 8,100 points. BCA’s core view is that first-quarter corporate earnings exceeded expectations in both strength and breadth, and the US economy has re-entered an expansion phase. Similar to JPMorgan Chase, BCA believes this stock rally is not only driven by valuation expansion—earnings themselves are delivering the index’s gains. AI remains the core variable in this assessment. Large tech firms including Alphabet, Microsoft, Amazon, Meta and Oracle continue to increase capital spending on data centers and AI infrastructure, driving growth in orders for chips, servers, construction, power and related industrial chains. This provides a clearer fundamental basis for upward revisions to 2026 and 2027 earnings. The institution points out that risks exist: the earnings expansion brought by AI investments has already been quickly priced into the market. If subsequent returns on capital spending are questioned, or interest rates remain elevated, further upside for the index will require more earnings confirmation rather than relying solely on investor risk appetite.

5 minutes ago

Tom Lee: Markets have nearly priced in two interest rate hikes from the Federal Reserve this year, and the rise in US Treasury yields is weighing on market sentiment.

Tom Lee said the market is still digesting Kevin Warsh’s remarks from his first press conference last week and repricing the macro environment. Over the past week, oil prices have pulled back, with war premiums contracting. Current oil prices are not far from the roughly $65 level seen before the conflict, indicating the market views related war risks as declining. On the other hand, 10-year U.S. Treasury yields continue to rise, now around 4.5%, higher than the pre-conflict level of roughly 4.2%. The main headwind the market has faced recently has shifted from oil prices to yields. Tom Lee noted that the market is not only focused on 10-year U.S. Treasury yields but also starting to price in potential additional interest rate hikes from the Federal Reserve. According to federal funds futures, the market is currently pricing in nearly two rate hikes this year. Bank of America further projected today that the Fed will raise rates three times this year, in September, October, and December respectively. Jeffrey Gundlach often emphasizes the importance of monitoring 2-year U.S. Treasury yields, as they typically lead the Fed and signal the central bank’s policy direction. Between 2023 and 2025, the relationship between 2-year U.S. Treasury yields and the federal funds rate indicated that the Fed’s policy was overly tight, requiring interest rate cuts. However, this relationship has recently reversed, meaning the Fed would need two rate hikes to catch up with 2-year U.S. Treasury yields. He believes that, at least for now, yields have become a headwind for the market.

5 minutes ago

Raydium, one of Solana’s largest decentralized exchanges, disclosed an exploit in its legacy Automated Market Maker V3 program that siphoned roughly $1.34 million from five deprecated liquidity pools. The attack targeted pools that had been phased out back in 2021, meaning no active users or current Raydium interfaces were affected.

What was taken and how The drained assets included approximately 150,177 RAY tokens, 5,603 SOL tokens, and around 893,700 USDC. The five affected pools were Sollet USDT-RAY, Sollet ETH-RAY, SRM-RAY, USDC-RAY, and RAY-SOL, all of which had been deprecated after the Serum protocol was sunset in 2021.

The root cause was a self-contained logic flaw in the liquidity provider mint validation process. The attacker created a fraudulent LP mint and used it to bypass the security checks that should have blocked the withdrawal. The pools were no longer supported within Raydium’s main software development kit or its decentralized application front end, but the smart contracts themselves were still live on-chain with real assets locked inside.

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Following the money The attacker’s wallet was traced back to KuCoin, the centralized exchange, suggesting that’s where the initial funding for the exploit originated. After the drain, roughly 810 ETH was funneled through Tornado Cash, the privacy-focused Ethereum mixer.

Raydium’s response and the bigger picture Raydium moved quickly to confirm that it would compensate the lost assets directly from its treasury. The exchange also announced a comprehensive security review of all its mainnet programs.

Raydium’s transition away from these older pools was driven by the deprecation of Serum, the on-chain order book protocol that was once central to Solana’s DeFi ecosystem. Raydium has since migrated to newer program versions including V4 and V5, which utilize virtual supply mechanisms alongside stricter account verification protocols. But the old contracts apparently weren’t fully wound down.

Raydium’s current pools, its CLMM (Concentrated Liquidity Market Maker) and newer AMM versions, were not affected. The treasury backstop means nobody who had residual funds in the deprecated pools should be out of pocket.

US authorities sanctioned Tornado Cash in 2022, and its continued use in exploit laundering gives regulators ammunition to argue for stricter oversight of DeFi protocols.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.

THE BLOCK: Raydium DEX says $1.34 million exploit hit retired AMM program, treasury to cover losses

Raydium has pledged to fully reimburse losses after an exploit drained approximately $1.3 million from five legacy liquidity pools built on Solana.

Summary

Raydium said it will fully reimburse losses after an exploit drained about $1.3 million from five legacy Solana liquidity pools. On-chain investigator Specter said the attacker used a fake mint address to exploit retired AMM code and steal RAY, SOL, and USDC. PeckShield traced part of the stolen funds to Tornado Cash, while Raydium said active pools and current users were unaffected. According to blockchain security firm PeckShield and on-chain investigator Specter, the attack targeted retired automated market maker infrastructure that is no longer used by active Raydium pools. The protocol said current users and active liquidity pools were not affected by the incident.

Details shared by Specter indicate that the attacker exploited a validation weakness in dormant pools tied to Raydium’s early AMM design. By using a fake mint address, the attacker was able to bypass checks and withdraw liquidity from the affected pools.

The stolen assets included roughly 150,177 RAY tokens, 5,603 SOL, and 893,700 USDC. Specter reported that the attacker initially received funding through KuCoin before moving the stolen assets across chains to Ethereum.

Exploit was limited to retired Raydium infrastructure Following the attack, Raydium stated that the affected pools belonged to a deprecated program with no active user participation. The team added that all impacted assets would be covered by the project treasury, preventing losses from falling on users who still had exposure to the legacy pools.

Raydium is aware of an exploit involving unauthorized removal of liquidity from its legacy AMM V3 program which was previously phased out in 2021.

No current users of Raydium are affected by this exploit or would have been able to interact with these pools through the UI since…

— Infra | Raydium (@0xINFRA) June 10, 2026 Tracking data from PeckShield showed that part of the stolen funds was routed through privacy tools after the exploit. The security firm reported that approximately 810 ETH was deposited into Tornado Cash, while another seven ETH was transferred to FixedFloat.

The movement of funds through Tornado Cash may complicate efforts to trace assets. PeckShield noted the transfers after the Ethereum-based funds were bridged from Solana. The mixer was removed from the U.S. Treasury Department’s sanctions list in March 2025.

Security incidents involving inactive code have become a recurring concern across decentralized finance. As previously reported by crypto.news, Token of Power suffered a separate exploit earlier this week that drained more than $1.5 million from a liquidity pool after an attacker manipulated token balances and withdrew WETH reserves. The two incidents involved different protocols and attack methods.

Raydium has moved quickly to cover user losses Compensation commitments are not new for Raydium. The protocol faced another major security incident in December 2022 when an admin key compromise led to losses from active liquidity pools.

At the time, a governance proposal approved the use of buyback fees and vested team tokens to reimburse affected liquidity providers. The latest response follows a similar approach, with the project confirming that treasury funds will be used to make users whole.

Market reaction has remained relatively muted. Data at the time of writing showed Raydium (RAY) trading near $0.57, down less than 1% over the previous 24 hours. Solana (SOL) also moved lower during the same period, slipping nearly 2% to around $63.88.

While investigators continue tracing the stolen assets, information from PeckShield and Specter suggests the exploit was confined to outdated infrastructure rather than Raydium’s current trading systems.

PANews reported on June 11th that Raydium, a decentralized exchange within the Solana ecosystem, announced that a vulnerability in its deprecated AMM V3 program resulted in the theft of approximately $1.34 million in assets from five inactive liquidity pools. Affected pools included trading pairs such as RAY-SOL, USDC-RAY, and SRM-SOL. Attackers stole approximately 150,000 RAY, 5,600 SOL, and nearly 900,000 USDC. Raydium stated that all losses will be covered by its treasury, and current users are unaffected. The AMM program was deprecated in 2021, and the vulnerability stemmed from insufficient validation of LP mint, allowing attackers to bypass expected ratio checks. Raydium's current mainnet program is unaffected and is undergoing a separate security review.

In brief Solana DEX Raydium was hit with a $1.3 million exploit on Wednesday. The exploit affected five deprecated liquidity pools from an older version of its automated market maker program. The incident joins a growing list of DeFi exploits and the discovery of major vulnerabilities, some fueled with AI tools. Five deprecated liquidity pools from Solana-based decentralized exchange Raydium were exploited on Wednesday, leading to more than $1.34 million in stolen funds. 

The exploit impacted the firm’s legacy automated market maker program and led to the loss of Solana (SOL), as well as dollar-backed stablecoin USDC and the exchange’s native token, RAY. 

“No current users of Raydium are affected by this exploit or would have been able to interact with these pools through the UI since their deprecation,” posted pseudonymous Raydium contributor 0xInfra on X. 

The exploiter, who has a Solana address ending in “Bq33QVk,” was able to bypass validation logic in the deprecated program and mint new liquidity provider tokens. In total, the attacker made off with nearly $900,000 in USDC, approximately $357,000 in SOL, and $86,000 worth of RAY. It will be repaid using the firm's treasury.

Raydium is aware of an exploit involving unauthorized removal of liquidity from its legacy AMM V3 program which was previously phased out in 2021.

No current users of Raydium are affected by this exploit or would have been able to interact with these pools through the UI since…

— Infra | Raydium (@0xINFRA) June 10, 2026

The firm’s existing mainnet programs prevent this type of vulnerability, according to 0xInfra, who highlighted that this was not due to a “a key compromise or authority-level issue.” 

The exploit extends a growing list of recent vulnerabilities discovered in crypto networks and decentralized finance (DeFi) protocols of late.

In April, KelpDAO and Solana-based Drift Protocol each suffered exploits that affected just shy of $300 million in funds, respectively. 

Last week, privacy network Zcash saw its native token crash more than 40% in 24 hours after developers disclosed that a security researcher used a frontier AI model to discover a four-year-old vulnerability that affected one of its privacy pools.

Although there is no evidence yet that AI was used in the Raydium exploit, analysts told Decrypt in May that AI is transforming exploit discovery by “automating what skilled auditors do.” 

Furthermore, the exploit took place just one day after private AI firm Anthropic released an upgraded version of Mythos, its cybersecurity-focused that it claims has “unprecedented cybersecurity capabilities.” Anthropic also released a neutered, publicly available version called Claude Fable 5, which has drawn criticism for how much it has been hobbled.

Amid the incident, Raydium’s native token is down around 2% in the last 24 hours, recently changing hands at $0.567. The token has fallen around 13% in the last week of trading amid a broader market rout, and is now 96.6% off its all-time high of $16.83.

Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.

SpaceX officially launched its IPO on June 11, 2026, targeting $135 per share and a $75 billion raise, with roughly 30% of shares, around $22 billion worth, reserved for retail investors.

That retail tranche is not an accident of corporate generosity. It is aimed squarely at the same demographic that has been buying Bitcoin, meme coins, and crypto ETFs for the past three years. And analysts are now saying it plainly: that capital has to come from somewhere, and right now, that somewhere looks like the crypto market.

Spencer Hallarn, GSR’s Global Head of OTC Trading, put it bluntly in a Reuters interview: “Crypto is a funding currency for a lot of this. We’ve got to find $75 billion for this IPO, and it’s got to come from somewhere.” Bitcoin liquidity, it turns out, is a convenient ATM when something shinier appears on the horizon.

EXCLUSIVE: Earn $10 USDC Via Binance Sign-Up

The $240 Billion Problem: What the Capital Absorption Figure Actually Tells You Think of the global risk-on capital pool like a tank of water feeding multiple faucets, crypto, tech stocks, leveraged ETFs, and now mega-IPOs all draw from the same supply. When a new faucet opens at $75 billion, the pressure everywhere else drops.

That is the mechanism behind what analysts are calling a capital rotation, and the SpaceX IPO is only the first valve.

The combined pipeline from the SpaceX IPO, the anticipated OpenAI IPO, and the expected Anthropic IPO is projected to absorb more than $240 billion in capital by year-end, according to CoinDesk analysis cited by Binance Square.

BREAKING: SpaceX's IPO is expected to create 4,000 new millionaires, including some cafeteria workers whose compensation packages include employee stock options, per Bloomberg.

— unusual_whales (@unusual_whales) June 10, 2026

To put that in perspective, Binance Square notes this figure exceeds 60% of the total global stablecoin market cap, meaning a significant chunk of the fiat pipeline that normally flows into crypto could be redirected into these three listings alone.

The $75 billion SpaceX figure is the immediate pressure point. A BNP Paribas note cited in CNBC coverage projected up to $50 billion in retail liquidations across crypto, semiconductors, and leveraged ETFs just to fund the SpaceX allocation.

This SpaceX IPO liquidity explainer on 99Bitcoins breaks down exactly why crypto sits in the crosshairs. What the $240 billion figure does not tell you is that this capital is gone permanently, it tells you it is temporarily occupied, and where it goes after the IPO lock-up expires matters just as much as where it came from.

DISCOVER: The 12+ Hottest Crypto Presales to Buy Right Now

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Attacker Drains $2.1 Million From Aztec Connect 3 Years After Its Shutdown

Table of contents

Interstate, a Web3 trading infrastructure entity, has partnered with Raydium, a renowned DEX and liquidity platform developed on the Solana blockchain. The partnership makes Raydium an official partner of Interstate, fortifying its endeavors to deliver seamless and effective trading experiences.

As per Interstate’s official social media announcement, the integration is set to connect Interstate Trenches with the liquidity pools of Raydium. Hence, the development focuses on enhancing price discovery as well as execution efficiency.

@Raydium 🤝 Interstate. Raydium Is An Official Interstate Partner

Best price matters when every second counts.

Interstate Trenches integrates with Raydium liquidity pools to help Solana traders get best-price routing and cleaner routes from discovery to execution.

Find Raydium… pic.twitter.com/tcRBKmbC1G

— Interstate (@interstatefdn) June 16, 2026 Interstate and Raydium Ensure Faster Trade Execution and Streamlined Asset Discovery to Solana Users The collaboration merges the seamless trading interface of Interstate with the liquidity infrastructure of Raydium. In this respect, the move is poised to deliver a smoother experience, including discovery and transfer completion.

Additionally, the integration also shows the significance of competitive pricing within the cryptocurrency trading landscape, where each second can influence execution outcomes. Apart from that, Interstate Trenches will utilize the liquidity pools of Raydium to provide cleaner routes, benefiting traders looking for optimized swaps for Solana-based assets.

By reaching comprehensive liquidity sources, consumers can likely leverage enhanced trade execution as well as a relatively streamlined procedure when engaging with DeFi applications. Additionally, the move expands the functionality for Solana traders via the inclusive interface of Interstate.

Accelerating Solana DeFi Expansion with Broader Trading Accessibility With the strategic Interstate alliance, consumers can discover Raydium-compatible assets, review pool-related data, examine real-time market charts, and execute their trades without shifting between different platforms.

The approach aims to streamline the trading workstreams by consolidating transfer capabilities and necessary market information into a unified environment. Interstate deems this collaboration a reflection of its efforts to enter the established infrastructure of Raydium to improve trading capabilities.

For Solana consumers, this joint initiative underscores the rising trend of enhancing efficiency, accessibility, and speed within DEXs. Ultimately, as the DeFi adoption keeps expanding, such partnerships could play a critical role in evolving the wider Web3 trading experience.

AUTHOR

Crypto journalist with years of experience providing in-depth analysis and news on blockchain and decentralized finance. With a keen eye for detail, Shahzaib delivers insightful articles that explore the latest trends, market movements, and innovations within the crypto and blockchain ecosystem. His work focuses on educating readers while offering expert commentary on the evolving landscape of digital assets, DeFi protocols, and the broader impact of blockchain technology.

Raydium, Solana Blockchain üzerinde çalışan, Serum DEX ile entegre bir otomatik piyasa yapıcıdır (AMM). Kullanıcılar, likidite havuzlarına varlık sağlayarak RAY coin kazanır ve bu tokenleri stake ederek ek ödüller elde edebilir. Raydium ayrıca AcceleRaytor platformu ile yeni projelerin Solana ekosisteminde sermaye toplamasını destekler. Bu yazımızda Raydium (RAY) nedir, TRY ile Raydium (RAY) nasıl alınır olmak üzere iki merak edilen sorunun yanıtını bulabilirsiniz.

Raydium (RAY) Nedir?Raydium, Solana Blockchain üzerine inşa edilmiş, otomatik bir piyasa yapıcı (AMM) olarak işlev gören merkeziyetsiz finans (DeFi) protokolüdür. Likidite havuzlarını merkeziyetsiz borsa (DEX) Serum ile entegre ederek dijital varlıkların alım satımını geliştirir. Bu entegrasyon, Raydium’un AMM’lerin esnekliğini geleneksel emir defteri mekanizmalarının güvenilirliği ile birleştirerek hızlı, likit ve düşük ücretli ticaret yapmasını sağlar.

Bir AMM olarak Raydium, likidite havuzları aracılığıyla dijital varlıkların izinsiz ticaretini kolaylaştırır. Bu havuzlar, varlıklarını akıllı sözleşmelere kilitleyen ve daha sonra DEX’te işlem çiftleri olarak hizmet veren likidite sağlayıcıları tarafından finanse edilmektedir. Likidite sağlamanın karşılığında kullanıcılar, Raydium’un yardımcı jetonu olan RAY cinsinden ödüller alır ve bu ödüller de ek ödüller kazanmak için stake edilebilir.

Borsalar gibi geleneksel borsalar, alış ve satış emirlerini eşleştirmek için merkezi bir emir defteri kullanır. Raydium tarafından desteklenen DEX olan Serum, bu süreci yönetmek için akıllı sözleşmeler kullanır. Emir defterinin bir tarafında, piyasa katılımcılarının satın almak istediği varlıkların miktarını ve fiyatını gösteren alım emirleri bulunur. Diğer tarafta ise satılık varlıkların miktarını ve fiyatını detaylandıran satış emirleri yer alır.

Raydium, işlemleri kolaylaştırmak için emir defteri yerine likidite havuzlarını kullanır. Likidite sağlayıcıları tarafından tedarik edilen bu havuzlar, alım ve satım emirleri için karşı taraf olarak hareket ederek merkezi olmayan ticareti mümkün kılar. Bu yöntem Ethereum üzerinde Uniswap gibi platformlar tarafından popüler hale getirilmiştir. Raydium, Ethereum tabanlı AMM’lere kıyasla daha düşük ücretleri, daha hızlı uygulama süreleri ve gelişmiş likidite yönetimi için Solana’yı seçti.

Raydium’un Serum’un emir defteri ile entegrasyonu, hem likidite havuzlarından hem de emir defterlerinden yararlanan hibrit bir ticaret modeli sağlar. Kullanıcılar Raydium’un likidite havuzlarına katkıda bulunduğunda, tokenler Serum’un emir defterinde limit emirlerine dönüştürülerek alım satım için kullanılabilir hale getirilir. Raydium, AMM ve Serum’un emir defteri arasındaki fiyatları karşılaştırarak uygun maliyetli işlemler sağlar.

Raydium, temel ticaret işlevlerinin ötesinde, likidite sağlayıcılarının LP tokenlerinden ekstra getiri elde etmelerine olanak tanıyan çift ödüllü çiftçilik gibi ek özellikler sunar. Kullanıcılar ayrıca işlem ücretlerinden ödül kazanmak için RAY coin stake edebilir. Ayrıca Raydium, yeni projelerin sermaye artırmasına ve Solana ekosistemi içinde büyümesine yardımcı olacak bir launchpad olan AcceleRaytor’u tanıttı.

TRY ile Raydium (RAY) Nasıl Alınır?Binance TR, Türkiye’de Raydium (RAY) satın almak isteyen yatırımcılar için en uygun bir kripto para borsasıdır. Hızlı bir şekilde hesap oluşturulabilen Binance TR’de RAY dahil 100’den fazla kripto para alınıp satılabilmektedir. Binance TR’de TRY ile Raydium (RAY) satın alabilmek için aşağıdaki adımları takip edebilirsiniz.

Binance TR’de Hesap Nasıl Açılır?Binance TR’de hesap açmak oldukça kolaydır. Bunun için trbinance.com adresine gitmeniz ve “Hesap Oluştur” adımından devam etmeniz gerekmektedir. Hesap oluşturmanın ilk adımında e-posta adresi, telefon numarası, ad-soyad, doğum tarihi, uyruk ve T.C. kimlik numarası gibi temel bilgilerinizi girmeniz istenecektir.

Talep edilen bilgilerin eksiksiz ve doğru bir şekilde girilmesinin ardından bilgilerin teyit edilerek doğrulanması amacıyla e-posta/sms doğrulaması yapılacaktır. Bu sürecin tamamlanmasının ardından ikinci adım olan kimlik doğrulamasına (KYC) geçerek devam edeceksiniz.

Binance TR’de Hesap Nasıl Onaylatılır?Binance TR’de kimlik doğrulaması, kripto para alım satımına başlamadan önce ve hesap oluşturma sırasında gerçekleştirilmesi gereken güvenlik prosedürlerinden biridir. Bu işlem aynı zamanda hem kullanıcıyı hem de kripto para borsasını korumak için gerekmektedir. Tercihinize göre doğrulama işlemini telefonunuzdan ya da Binance TR’nin resmi web sitesi üzerinden yapabilirsiniz. Bu noktada web sitesinden kimlik doğrulaması yapmak için de cep telefonunuza ihtiyacınız olacağını belirtelim.

Binance TR web sitesinde sağ üstte bulunan “Profil” seçeneğinin üzerine geldikten açılır menüden “Kimlik Doğrulama ve Limitler” seçeneğine tıklayarak devam edin ve ardından “Doğrula” seçeneğine tıklayın. Bu adımdan sonra karşınıza çıkacak QR kodunu cep telefonunuzun kamerasına taratmanız ve işleme cep telefonunuzla devam etmeniz gerekecek. Eğer QR kodunu tarayamıyorsanız, “URL’yi Kopyala” seçeneğine tıklayarak kimlik doğrulama adresini cep telefonunuza SMS ile gönderilmesini sağlayabilirsiniz.

Adresi cep telefonunuza girdiğinizde veya QR kodunu taradığınızda cep telefonunuzda aşağıdaki gibi bir ekran açılacaktır. Buradan öncelikle “Kimlik” seçeneğine dokunarak devam edin.

Ardından aşağıdaki gibi bir ekran açılacaktır. Doğrulama işlemine devam etmek için öncelikle sizin için uygun olan belge tipini seçerek devam edin.

Belge tipini seçtikten sonra “Ön yüzünü yükle” seçeneğine dokunarak devam edebilirsiniz. Seçtiğiniz belge tipine göre belgenin ön yüzünün fotoğrafını çektikten sonra “Arka yüzünü yükle” seçeneğine dokunun ve belgenin arka yüzünün fotoğrafını çekip yükleyin. Kimlik kartınızın ya da ehliyetinizin ön ve arka yüzünün fotoğrafını çekerken görüntülerin net olduğundan ve çektiğiniz fotoğraftaki bilgilerin kolayca okunabildiğinden emin olun.

Daha sonra “Selfie” seçeneğine dokunarak devam edebilirsiniz. Bu noktada cep telefonunuzun ön kamerası açılacak ve yüzünüzü taratmanız gerekecek. Kamera açıldıktan sonra yüzünüzün kamera alanını olabildiğince doldurduğundan emin olun.

Tüm bu adımları eksiksiz ve doğru bir şekilde tamamladıktan sonra kimlik doğrulama işleminiz kısa bir süre içerisinde gerçekleşecektir.

Binance TR’de Nasıl TL Yatırılır?Binance TR hesabınıza tüm bankalar üzerinden kolayca TL yatırabilirsiniz. Vakıfbank, Ziraat Bankası, İş Bankası, Akbank, Fibabanka, Şekerbank, Türkiye Finans hesaplarınızdan ise 7/24 TL yatırabilir ve kesintisiz şekilde işlem yapabilirsiniz. Bu bankalar haricindeki diğer bankalardan ise FAST ile 50 bin TL’ye kadar 7/24 yatırma işlemi yapılabilmektedir. Diğer bankalardan yapılan 50 bin TL üzeri para yatırma işlemleri EFT saatleri içerisinde gerçekleşir.

Binance TR hesabınıza para yatırmak için ilk olarak trbinance.com adresinden ana sayfanın sol üst köşesindeki “Cüzdan” seçeneğinin üzerine gelin ve açılır menüden “Yatırma” seçeneğine tıklayın.

Ardından aşağıdaki gibi bir sayfa açılacaktır ve bu sayfadan tercih ettiğiniz bankayı seçerek para yatırma işlemine devam edebilirsiniz. Eğer tercih ettiğiniz banka henüz Binance TR entegrasyonuna sahip değilse “Diğer Bankalar” seçeneğine tıklayarak devam etmelisiniz.

Biz bu örnekte Vakıfbank’ı kullanarak devam edeceğiz ancak süreç diğer tüm bankalar için de aynıdır. Vakıfbank seçeneğine tıkladığınızda karşınıza o bankaya ait havale, EFT veya FAST yapabileceğiniz bir hesap adı ve IBAN adresi gelecektir. Artık tek yapmanız gereken, tercih ettiğiniz bankanın sayfasında görünen bilgileri kullanarak Binance TR hesabınıza yatırmak istediğiniz miktarı havale, EFT veya FAST ile göndermektedir.

Bankanız transfer işlemini tamamladıktan sonra gönderdiğiniz fonlar otomatik olarak Binance TR hesabınızda cüzdanınıza yansıtılacaktır.

TL ile Binance TR’de Nasıl RAY Coin Alınır?Para yatırma işleminin ardından Binance TR web sitesinde sol üst menüsünde bulunan “Al-Sat” seçeneğine tıklayarak TL ile RAY coin satın alım adımına geçebilirsiniz.

Bu seçeneğe tıkladıktan sonra aşağıdaki sayfa açılacaktır. Bu sayfanın sağ tarafındaki arama kısmına “RAY” yazarak gelen sonuçlardan RAY/TRY seçeneğine tıklayarak TL ile RAY satın alım sayfasına gidebilirsiniz.

Şimdi aşağıdaki RAY alım satım sayfası açılacaktır. Bu sayfada kırmızı kutuyla işaretlenen alanda ilk kutucuğa hangi fiyattan RAY satın almak istiyorsanız fiyatı ve ikinci kutucuktan kaç adet RAY almak istediğiniz girmeniz gerekmektedir. Tutarı girdikten sonra “RAY Al” düğmesine tıklayarak satın alım işleminizi gerçekleştirebilirsiniz.

Binance TR Nedir?Ürettiği işlem hacmi ile dünyanın en büyük kripto para borsası olan Binance, Türkiye’deki kripto para yatırımcılarına özel platformu Binance TR’yi 2020’de resmen hizmete sunmuştur. Merkezi İstanbul’da bulunan kripto para borsasına trbinance.com adresinden erişilebilmektedir.

Binance TR, Binance’in teknolojisinden, güvenlik önlemlerinden ve Binance Cloud altyapısı aracılığıyla sağladığı likiditeden yararlanarak hem fiattan kripto paraya hem de kripto paradan kripto paraya alım satım hizmeti sunmaktadır. Türkiye’deki kullanıcılar Binance TR aracılığıyla doğrudan banka kanalları aracılığıyla sorunsuz bir şekilde Türk lirası (TRY) yatırıp çekebilmekte ve TRY işlem pariteleriyle çeşitli kripto paraların alım satımını yapabilmektedir.

Kullanıcılar Binance TR ile Binance’in temel işlevleriyle desteklenerek piyasa lideri spot alım satım likiditesine, güçlü bir eşleştirme motoruna, gelişmiş güvenlik protokollerine, saklama çözümlerine ve risk kontrollerine erişim sağlamaktadır.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

TLDR: Raydium’s Legacy AMM V3 lost $1.34M via an LP mint validation flaw in deprecated pools.  Attacker bypassed proportion checks by creating a fake LP mint; no key compromise occurred. Five idle pools were drained; current mainnet programs and SDK remain fully unaffected. Raydium’s treasury will fully compensate victims while a mainnet security review is underway. Raydium confirmed an exploit targeting its deprecated Legacy AMM V3 program, resulting in approximately $1.34 million in unauthorized liquidity removals.

The attack exploited an LP mint validation flaw that allowed an attacker to bypass proportion checks. Only inactive Legacy AMM V3 pools were affected.

Current mainnet programs, the SDK, and the DApp remain fully operational and unaffected.

Exploit Details: How the Attacker Bypassed Security Checks The vulnerability originated from insufficient validation of the LP mint address within the Legacy AMM V3 program. Because the program failed to properly verify the LP mint, the attacker created a new mint and used it as the LP token.

This effectively bypassed the proportion checks that were meant to govern liquidity removal. The flaw was entirely self-contained and did not involve any key compromise or authority-level issue.

Five pools were affected in the attack. These included Sollet USDT–RAY, Sollet ETH–RAY, SRM–RAY, USDC–RAY, and RAY–SOL.

The exploiter’s wallet address has been identified as 4WnPebowR4HHfumvNPaDjG6Pa5Hi1jxLm6xmmBq33QVk. Assets drained include approximately 150,177 RAY, 5,603 SOL, and 893,700 USDC.

Legacy AMM V3 was originally built to use deposited funds for placing orders on the Serum order book. It did not offer swap functionality.

Following Serum’s deprecation, liquidity in these pools remained idle. Proportion checks in this program relied on LP token supply rather than the virtual supply mechanism used in current programs.

Raydium’s team confirmed the exploit carries no propagation risk. Since the flaw was a logic error rather than a systemic vulnerability, it does not affect other programs.

Raydium is aware of an exploit involving unauthorized removal of liquidity from its legacy AMM V3 program which was previously phased out in 2021.

No current users of Raydium are affected by this exploit or would have been able to interact with these pools through the UI since…

— Infra | Raydium (@0xINFRA) June 10, 2026

No current users could have interacted with these deprecated pools through the UI since their phase-out in 2021.

Raydium’s Response: Compensation and Security Review Raydium moved quickly to address the situation following the exploit. The project confirmed that full compensation for affected users will be handled directly through its treasury. This commitment covers the entire $1.34 million in drained assets across all five impacted pools.

Raydium’s core contributors announced a comprehensive security review of all mainnet programs. The goal is to verify that no similar logic flaws exist across any active code.

Current programs already use a virtual supply mechanism for proportion checks and properly verify LP mint addresses and all relevant account data.

The team also clarified the architectural difference that protected current programs. Unlike Legacy AMM V3, all active Raydium mainnet programs correctly validate the LP mint along with other account information. This prevents the class of vulnerability that was exploited in the deprecated program.

Raydium stated that neither the SDK nor the DApp supports mainnet interactions with Legacy AMM V3 pools. As a result, current users were never exposed to risk.

The project’s transparency in publishing the exploiter’s address and affected pool details reflects its broader commitment to community trust.

June 10: On-chain investigator Specter has issued a security advisory flagging a potential exploit in an older liquidity pool of Solana’s DeFi protocol Raydium. The attacker stole approximately $1.34 million worth of assets—including USDC, RAY, and wSOL. The hacker then transferred the stolen funds to Ethereum via a bridge before depositing them into Tornado Cash to protect their privacy.

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