PANews, July 25 – LayerZero announced it will gradually discontinue support for 20 chains with extremely low activity, meaning LayerZero’s DVN and Executor services will no longer be available on these chains. Among them, Botanix will lose support on July 30; Moonriver, Moonbeam, Nexera and Canto on July 31; EDU Chain, Meter, Shimmer, Cyber, Silicon, Sophon, Bitlayer, DFK Chain, Arbitrum Nova and DOS Chain on August 28; Aurora, Taiko, BounceBit, Japan Open Chain and LightLink on September 30.
Additionally, Stargate v2 will gradually discontinue support for Botanix, EDU Chain, Aurora, Taiko and LightLink. Users holding assets in relevant Stargate Pools or Stargate Hydra should bridge their assets to still-supported networks before the effective dates, or they may lose access to their funds.
LayerZero and Keeta have partnered to make tokenized commercial bank deposits transferable across Ethereum, Solana, Base and the Keeta Network.
Summary
Keeta stablecoins will represent commercial bank deposits and move across four networks through LayerZero infrastructure. Nine fiat currencies are scheduled to launch across supported public blockchains later during July 2026. Bivo will hold backing deposits while issuers retain control over contracts, transfers, and compliance requirements. The companies plan to launch the service later in July 2026, giving institutions a way to move bank-backed digital money across several public blockchains.
(1/8) Keeta has partnered with @LayerZero_Core to bring tokenized commercial bank money to major blockchains.
Together, we’re the first to combine regulated, compliance-native infrastructure with omnichain interoperability, enabling financial institutions to move bank-grade… pic.twitter.com/QKPJff0b7N
— Keeta (@KeetaNetwork) July 23, 2026 The system will use Keeta Stablecoins, which the companies describe as tokenized commercial bank money. Commercial bank deposits held through Bivo and its partner-bank network will back the tokens. The initial release will cover the U.S. dollar and eight other fiat currencies.
Keeta Stablecoins target multichain settlement According to the official LayerZero announcement, the first currencies will include USD, EUR, JPY, CNY, GBP, CAD, MXN, AED and HKD. The companies did not provide a specific launch date or name the institutions that will use the product at launch.
The product targets treasury, payment and settlement work. An institution could hold a token linked to a commercial bank deposit and transfer it between supported networks. Keeta CEO Ty Schenk said, “The future of institutional money isn’t a walled garden.” He said Keeta wants regulated bank money to move across chains rather than remain inside one closed system.
LayerZero supplies the cross-chain token standard Keeta Stablecoins will use LayerZero’s Omnichain Fungible Token Standard. LayerZero’s technical documentation says the OFT model lets one fungible token exist across several chains while maintaining one global supply. A transfer removes tokens from circulation on the source network and credits the same amount on the destination network.
The partnership says the issuing institution will retain contract authority across the supported networks. LayerZero also offers stablecoin controls such as transfer restrictions, rate limits, pause functions and separate operational roles. These controls allow an issuer to apply internal policies while keeping the token available on more than one blockchain.
Bivo provides the deposit and payment connection Bivo will provide access to U.S. payment rails and its partner-bank network. Keeta identifies Bivo as a licensed money transmitter with NMLS number 2572288. California’s Department of Financial Protection and Innovation also lists Bivo as a regulated money transmitter in the state.
The announcement does not state whether every token holder will receive deposit insurance or hold a direct claim against a named bank. It only says that commercial bank deposits held through Bivo will back the tokens. The companies also did not disclose reserve reporting rules, redemption fees, minimum transaction sizes or which entities will issue each currency.
The structure differs from many stablecoins that hold cash, Treasury bills or other reserve assets outside a customer deposit account. Keeta and LayerZero still use the term “stablecoins” for the product, but they describe the backing as commercial bank money rather than a mixed reserve portfolio.
Tokenized deposit projects gain wider attention Banks and crypto firms have tested several forms of tokenized deposits in 2026. JPMorgan and other large U.S. banks have worked on a shared network for tokenized deposits, with a possible 2027 launch. That project would operate through a bank-led system rather than distribute deposits across several public chains.
In another model, Custodia Bank and Vantage Bank tested a dual-purpose token that acts as a bank deposit inside their Hazel network and as a stablecoin when it moves outside the network. The Keeta and LayerZero plan instead focuses on issuing several fiat-linked assets across Ethereum, Solana, Base and Keeta from the start.
LayerZero already supports cross-chain distribution for payment and tokenized-asset products. As previously reported, PayPal expanded PYUSD to additional networks through LayerZero infrastructure. Ondo Finance also used LayerZero for cross-chain transfers of tokenized stocks and exchange-traded funds.
Cross-chain systems also carry technical and operational risks. In April, attackers drained about $292 million from Kelp DAO’s rsETH bridge after compromising infrastructure used by a LayerZero verifier. LayerZero said the attack affected Kelp DAO’s single-verifier setup rather than the core protocol. The company later stopped signing messages for applications using one-verifier configurations and urged projects to use several independent verifiers.
Keeta will also add LayerZero as an anchor inside its network. Keeta uses anchors to connect blockchains and traditional payment systems. The company says its network reached 11.2 million transactions per second during a public stress test conducted with Google’s Spanner engineering team, although that result does not represent normal production volume.
The companies have not disclosed launch partners, expected transaction volume or pricing. Their July rollout will test whether institutions want tokenized commercial bank money that can move across public chains while the issuer keeps control over transfers and compliance settings.
LayerZero Labs, an interoperability protocol connecting over 170 blockchains, and Keeta, a regulated payment and settlement platform, announced a partnership to introduce tokenized commercial bank deposits on Ethereum, Solana, Base, and the Keeta Network. This collaboration aims to provide institutions with the ability to transfer regulated bank deposits seamlessly across multiple public blockchains using LayerZero’s interoperability technology.
Tokenized bank deposits roll out with multi-currency supportInstitutions will be able to issue and transfer commercial bank deposits via Bivo, a payment rail and banking network provider, onto several blockchain networks. Initially, these tokenized assets will be backed by U.S. dollars, with support for eight additional currencies—including EUR, JPY, CNY, GBP, CAD, MXN, AED, and HKD—expected by the end of the month. Unlike traditional reserve-backed stablecoins, each token will represent money held directly as a commercial bank deposit through Bivo, linking regulated finance to decentralized infrastructure.
Mini dictionary: Bivo, a payment platform and partner-bank network, bridges commercial bank deposits into blockchain tokens for payment and treasury solutions.
The platform is designed to help institutions conduct payments and manage treasury operations across networks without managing separate token versions or maintaining isolated balances. With LayerZero’s Omnichain Fungible Token (OFT) standard, tokens sent from one blockchain are burned and new tokens are minted on the destination chain, keeping supply consistent and removing the need for wrapped assets or external liquidity pools.
CurrencyNetwork AvailabilityUSDPlannedEURPlannedJPYPlannedCNYPlannedGBPPlannedCADPlannedMXNPlannedAEDPlannedHKDPlannedLayerZero has stated that the platform’s OFT framework allows companies to track total supply directly at the contract level across blockchains, ensuring assets are never duplicated and reducing operational complexity.
Issuer controls and security take center stageKeeta allows issuing institutions to set key operating rules for the tokens, including compliance checks, verification settings, transfer limits, and other regulatory safeguards. Such features are considered essential for commercial bank money, given strict legal and operational responsibilities. LayerZero’s infrastructure manages the cross-chain settlement, but issuers retain decision-making authority over how tokens are issued and used.
Keeta stated that a recent public stress test, conducted with assistance from Google’s Spanner engineering team, reached 11.2 million transactions per second on its dedicated blockchain network. This test showcased the system’s technical capacity but did not directly address adoption by banks or treasury institutions.
Mini dictionary: Keeta is an institutional payments and settlement network seeking to bridge regulated banking infrastructure with public blockchain environments.
Bivo’s involvement allows direct on-chain representation of assets held in regulated financial channels, offering a banking foundation rather than relying on crypto-native reserves. This arrangement also grants participating institutions control throughout the entire transfer process, potentially addressing concerns about fragmented liquidity and inconsistent versions of tokenized assets.
Despite technical advances, the companies have not disclosed forecasted transaction volumes, specific banks participating, or committed institutional partners. Future adoption will depend on market demand and how security settings are configured.
Security concerns and institutional adoption remain unresolvedQuestions about adoption persist as neither LayerZero nor Keeta have named banks or provided estimates for usage or transaction volume. Institutional appetite is expected to be influenced by both regulatory frameworks and risk management settings in the infrastructure.
Closer attention to security has followed recent incidents, such as the April 18 KelpDAO exploit, which resulted in attackers draining 116,500 rsETH valued at $292 million. The breach exposed weaknesses in a single-verified protocol setup, prompting LayerZero to discontinue support for the vulnerable configuration and raise default security standards for future deployments. Success of the Keeta rollout may depend on how clients adapt these new default controls.
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: Tokenized bank deposits will become transferable across Ethereum, Solana, Base, and Keeta through LayerZero’s interoperability standard. Commercial bank deposits held through Bivo will support USD and eight additional fiat currencies scheduled for release later this month. Keeta will retain issuer controls while LayerZero manages consistent token supply and cross-chain settlement without separate liquidity pools. The partners disclosed no transaction forecasts or participating banks, leaving institutional adoption dependent on demand and security settings. LayerZero and Keeta are bringing tokenized bank deposits to Ethereum, Solana, Base, and the Keeta Network. The partnership creates cross-chain rails for regulated commercial bank money used in payments and treasury operations. Bivo-held commercial bank deposits will support the issued assets. The first rollout will cover the U.S. dollar and eight additional currencies later this month.
The model differs from common reserve-backed stablecoins. Each token represents money held as a commercial bank deposit through Bivo. LayerZero supplies the interoperability layer, while Keeta provides compliance-focused payment infrastructure. Institutions can therefore manage one asset across several public networks.
Tokenized Bank Deposits Gain a Cross-Chain Settlement Layer LayerZero will use its Omnichain Fungible Token standard for transfers between supported blockchains. The standard burns tokens on one network and mints matching tokens on another. This structure keeps the total supply consistent across every deployment. It also avoids separate liquidity pools and reduces reliance on wrapped versions.
Issuing institutions retain control over the token contracts and their operating rules. They can define verification settings, transfer limits, compliance checks, and other safeguards. That control is important for commercial bank money, where issuers must manage legal and operational obligations.
The initial network includes Ethereum, Solana, Base, and Keeta. Supported currencies will include USD, EUR, JPY, CNY, GBP, CAD, MXN, AED, and HKD. LayerZero said the currencies are scheduled to become available later this month. The company currently connects more than 170 public blockchains.
Cross-chain settlement could help institutions move working capital between blockchain environments without maintaining isolated balances. A treasury team could hold one regulated asset while accessing different payment or market venues. The structure may also reduce reconciliation work created by separate token versions.
LayerZero already supports multichain assets used by payment and tokenization companies. Its OFT framework tracks supply across networks at the contract level. Keeta now applies that model to deposit-backed money rather than crypto-native assets. The partnership extends interoperability into routine banking settlement.
Keeta Adds Bank Controls While Adoption Questions Persist Keeta is building its network for regulated payments and institutional settlement. The company is also integrating LayerZero as an anchor within its own blockchain. Keeta said a public stress test recorded 11.2 million transactions per second. The test involved Google’s Spanner engineering team.
Bivo provides access to U.S. payment rails and a partner-bank network. Its role links the on-chain tokens with commercial bank deposits held through regulated financial channels. The arrangement gives the system a banking foundation rather than a portfolio of reserve assets.
This structure preserves direct issuer authority over contracts throughout the transfer process. Institutions can maintain controls while using public blockchains for distribution and settlement. That combination may address concerns around fragmented liquidity and inconsistent token versions. It does not remove the need for bank participation.
Still, the partners have not disclosed expected transaction volumes, participating banks, or committed institutional users. Those details will determine whether the infrastructure gains regular settlement activity. Technical capacity alone does not guarantee demand from banks or corporate treasurers.
Security controls will also receive close attention after the April 18 KelpDAO incident. Attackers drained 116,500 rsETH, worth about $292 million, after compromising infrastructure supporting a single-verified setup. LayerZero later ended support for that configuration and increased default verification requirements. The Keeta rollout will depend on how institutions configure those controls.
Tokenized real-world assets have been the crypto industry’s favorite buzzword for two years running. Now someone is trying to do it with the most boring financial instrument imaginable: your bank deposit.
LayerZero, the omnichain messaging protocol that connects over 70 blockchains, has partnered with Keeta, a Layer-1 chain built for payments and fiat interoperability, to enable native cross-chain transfers of tokenized bank deposits. The integration spans Ethereum, Solana, Base, and Keeta’s own network.
What tokenized bank deposits actually are Think of a tokenized bank deposit as a digital twin of the dollars sitting in your checking account. Each token is backed 1:1 by an actual deposit at a regulated bank, retaining the protections and compliance features you’d expect from traditional banking. The difference is that these tokens can move on-chain, 24/7, across multiple networks.
This matters because stablecoins, for all their growth, exist in a regulatory gray zone that makes traditional financial institutions nervous. Tokenized deposits, by contrast, are designed to sit squarely within existing banking frameworks. They’re regulated. They’re backed. And they potentially carry the same federal insurance protections as the deposits behind them.
Advertisement
The distinction is subtle but significant. Stablecoins like USDC are liabilities of the issuer (Circle, in that case). Tokenized deposits remain liabilities of the bank itself. For institutional players and regulators, that’s a meaningful difference in risk profile.
How LayerZero and Keeta make it work LayerZero’s role here is straightforward but critical. Its messaging protocol allows these tokenized deposits to move natively between chains rather than relying on wrapped assets or centralized bridges. The protocol is currently live on Solana’s mainnet beta and connects with Ethereum, Base, Avalanche, Polygon, Arbitrum, Optimism, and BNB Chain, among others.
Native transfers matter because wrapped tokens introduce counterparty risk. Every time you wrap an asset to bridge it, you’re trusting the bridge operator to actually hold the underlying token. LayerZero’s approach lets the asset move without that intermediary step, which is a big deal when the asset in question is supposed to represent insured bank deposits.
Keeta brings the payments infrastructure to the table. The Layer-1 blockchain claims to support millions of transactions per second with sub-second settlement times. Keeta’s native token is KTA, while LayerZero operates with its ZRO utility and governance token.
Why this partnership matters for the broader market Investors should pay attention to the competitive dynamics here. JPMorgan has been experimenting with tokenized deposits through its Onyx platform. Citigroup has run pilots.
No specific transaction volumes or total value locked figures are available for the partnership yet, which means the market is pricing this on potential rather than proven traction.
One risk worth flagging: the success of tokenized deposits depends heavily on banks actually participating. LayerZero and Keeta can build the pipes, but someone has to turn on the water. The partnership creates the technical capability for cross-chain deposit transfers, but adoption will ultimately be driven by whether regulated financial institutions see enough demand and enough regulatory clarity to commit.
For traders watching the ZRO and KTA tokens, the near-term catalyst is clear. Every new institutional partnership or bank integration announcement will likely move these assets. Given that global bank deposits measure in the tens of trillions, even capturing a fraction of that flow would be transformative for any protocol involved.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Tesla's losses widened to 12% in early trading, weighed down by negative free cash flow.
According to BIT (bit.com) market data, Tesla’s early-session losses widened to 12%, trading at $329.015 per share, with a total market capitalization of $1.24 trillion. This morning, Tesla released its second-quarter (Q2) financial results: revenue reached $28.24 billion, exceeding market expectations and rising 26% year-over-year, marking its first year-over-year revenue growth rate above 20% in three years. However, Q2 operating profit was only $398 million, far below the market consensus of $1.39 billion; adjusted earnings per share (EPS) came in at $0.33, down 18% year-over-year and also missing forecasts significantly. Notably, Tesla’s Q2 free cash flow stood at -$1.09 billion, its first quarterly negative figure since Q1 2024.
6 minutes ago
Uniswap v4 Launches Permissioned Pools
Uniswap has rolled out Permissioned Pools, a new hook standard for Uniswap v4 that enables permissioned asset trading via automated market makers, with compliance enforced directly on-chain. The permissioned asset pools are built in collaboration with on-chain asset management teams, and its first batch of partners includes Superstate, Securitize, and Dowgo.
6 minutes ago
Abraxas Capital deposits 2,211 $BTC to Kraken and 30,825 $ETH to Binance
Abraxas Capital deposited 2,211 $BTC ($143.88M) into #Kraken and 30,825 $ETH ($59.19M) into #Binance over the past 8 hours.
6 minutes ago
The US stock market's optical communication sector rose across the board, with Lumentum and AAOI gaining more than 7%.
According to market data from BIT (bit.com), the U.S. optical communication sector rallied across the board. Pure Photonics ETF FOTO and Corning advanced over 3%, Coherent and Ciena gained more than 4%, while Lumentum and AAOI jumped over 7%.
6 minutes ago
$BTC ETFs +$709.47M, $ETH ETFs +$160.63M in 7-day inflows
Fourth security incident today: A PancakeSwap liquidity provider (LP) granted a malicious approval, resulting in losses of approximately $2.96 million.
According to Specter’s monitoring, a long-inactive PancakeSwap liquidity provider (LP) suffered a loss of roughly $2.96 million after signing a malicious EIP-7702 authorization. The attacker drained approximately $1.48 million in BSC-USD and $1.48 million in BUSD liquidity provided by the victim, then swapped the BUSD for ETH. To date, the attacker has deposited around $1.46 million into Tornado Cash, with the remaining roughly $1.48 million in USDT still held in the attacker’s address.
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.
LayerZero (ZRO) price is down roughly 3% on Monday, extending its 9% decline from last week. The upcoming monthly token unlock of 25.71 million ZRO is scheduled for this Monday, which could further increase downside pressure. Retail interest is building ahead of the token unlock, with trading volume up over 500%, while easing funding rates imply a bearish bias.
ZRO monthly token unlock lifts retail interestLayerZero is gaining retail interest in the derivatives market ahead of its July monthly token unlock. Tokenomist data shows that 4.60% of the total ZRO supply, or 25.71 million tokens, will be unlocked on Monday, benefiting strategic partners and core contributors. In addition, 1.67 million, or 0.30% of released supply, will be bought back, projecting the core team’s confidence in the project.
On the retail front, LayerZero derivatives witness a surge in traders’ interest. CoinGlass data show that ZRO futures trading volume is up 552% in 24 hours to $248.65 million, with Open Interest (OI) up 4.52% to $80.87 million, implying a positional buildup. However, the funding rate easing to 0.0061% from 0.0121% the previous day suggests the traders' demand is shifting away from long positions.
Taken together, the easing of bullish bias in the derivatives market is considered a typical response to an upcoming token unlock, as traders anticipate the release of supply as potential selling pressure.
On the downside, the key structural floor is the Fibonacci anchor around $0.73, where a break lower would reinforce the prevailing bearish trend and expose fresh lows in the broader cycle.
ZRO token unlock data. Source: Tokenomist
ZRO derivatives data. Source: CoinGlassWill ZRO prices extend its decline?LayerZero maintains a near-term bearish bias as price extends a declining trend below its 50-day Exponential Moving Average (EMA) at $0.9575, following a death cross with the 200-day EMA on April 26.. The descending moving averages keeps the broader downtrend intact, with rallies likely to face supply into these overhead barriers.
The Relative Strength Index (RSI) at 36 points to firm bearish momentum rather than outright oversold conditions, while the Moving Average Convergence Divergence (MACD) and signal line descend in the negative territory, hinting that downside pressure persists.
On the downside, the key structural floor around $0.7340, where a break lower would reinforce the prevailing bearish trend and expose fresh lows in the broader cycle. The 127.2% Fibonacci extension level at $0.5322, measured from $2.3930 to $0.7340, could serve as the next support level, suggesting a 25% downside potential.
ZRO/USDT daily price chart.On the topside, initial resistance is seen at the 23.6% retracement level at $0.9452, close to 50-day EMA around $0.9571, and a daily close above this zone would be needed to ease immediate downside pressure and open the way toward the 50% retracement level at $1.3253.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
LayerZero is about to hand a large chunk of ZRO tokens to its insiders, and the market is watching closely. On July 20, 2026, roughly 25.71 million ZRO tokens will unlock, carrying a combined value of approximately $19.98 million at current prices.
Who gets what The unlock splits fairly neatly between two groups. Strategic Partners receive approximately 13 million ZRO tokens, worth around $10.55 million at today’s prices. Core Contributors take home roughly 10.63 million ZRO tokens, valued at approximately $8.62 million.
Advertisement
The 25.71 million tokens represent about 2.36% of ZRO’s total supply of 1 billion tokens. As a share of circulating supply, where roughly 55 to 58% has already been released, this unlock accounts for approximately 4.6% of what’s currently in the market.
The vesting schedule that governs this release follows a three-year structure with a one-year cliff, a design that dates back to LayerZero’s token generation event in June 2024, which also included a community airdrop.
What LayerZero has been building LayerZero is an omnichain interoperability protocol that lets different blockchains communicate with each other. In February 2026, LayerZero launched its “Zero” blockchain, a network specifically aimed at institutional clients. The project raised $318.3 million in total funding, and the institutional pivot is backed by Citadel Securities.
What this means for ZRO investors ZRO is currently trading in the range of $0.79 to $0.81. What traders should watch is the on-chain behavior in the days following July 20. If the unlocked wallet addresses associated with strategic partners begin moving tokens to centralized exchanges in volume, that’s a concrete signal of distribution pressure. If the tokens sit largely unmoved, that tells a different story about insider conviction.
For retail holders, a $10.55 million allocation to strategic partners entering the market over days or weeks is unlikely to cause a catastrophic price decline on its own, but it adds to the supply side of the equation. Historical analysis has suggested the price impact of such unlock events has been limited.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
PANews July 19 news, Token Unlocks data shows that tokens such as ZRO, KAITO, H will see significant unlocks next week, including:
LayerZero (ZRO) will unlock approximately 25.71 million tokens on July 20 at 7:00 PM Beijing time, representing roughly 4.6% of circulating supply and valued at around $20.9 million;
KAITO (KAITO) will unlock approximately 17.6 million tokens on July 20 at 8:00 PM Beijing time, representing roughly 4.3% of circulating supply and valued at around $16 million;
Humanity Protocol (H) will unlock approximately 266 million tokens on July 25 at 8:00 AM Beijing time, representing roughly 8.6% of circulating supply and valued at around $15.5 million;
Plasma (XPL) will unlock approximately 88.89 million tokens on July 25 at 8:00 PM Beijing time, representing roughly 3.44% of circulating supply and valued at around $7.3 million;
SoSoValue (SOSO) will unlock approximately 23.46 million tokens on July 24 at 5:00 PM Beijing time, representing roughly 6.78% of circulating supply and valued at around $6.9 million;
aPriori (APR) will unlock approximately 31.88 million tokens on July 23 at 8:00 AM Beijing time, representing roughly 11.28% of circulating supply and valued at around $6.8 million;
SOON (SOON) will unlock approximately 20.24 million tokens on July 23 at 4:30 PM Beijing time, representing roughly 3.91% of circulating supply and valued at around $3.3 million;
MBG By Multibank Group (MBG) will unlock approximately 27.15 million tokens on July 22 at 8:00 PM Beijing time, representing roughly 6.96% of circulating supply and valued at around $3.3 million;
Undeads Games (UDS) will unlock approximately 2.15 million tokens on July 21 at 8:00 AM Beijing time, representing roughly 1.11% of circulating supply and valued at around $2.4 million.
Gate DEX announced its full integration with Robinhood Chain, becoming one of the first mainstream exchange onchain gateways to support the ecosystem. This feature covers core scenarios such as asset discovery, wallet management, onchain trading, cross-chain interaction, and market tracking, providing users with a more complete and efficient Web3 experience for exploring emerging onchain ecosystems, and further expanding Gate DEX’s multi-chain layout and infrastructure capabilities. For a smoother experience, please update the Gate App to v8.27.0 or above.
As the onchain gateway of the Gate ecosystem, Gate DEX integrates wallet, cross-chain, trading, airdrops, Earn, and DApps, continuously building an open and interconnected full-scope Web3 ecosystem. With the rapid development of emerging public chains, users’ demand for asset discovery, project exploration, and onchain interaction continues to increase. By supporting Robinhood Chain, Gate DEX further connects emerging onchain ecosystems, providing users with a more convenient entry point to popular assets and innovative applications.
In terms of asset discovery, Gate’s main platform Alpha has newly added support for the display and trading of Robinhood Chain ecosystem assets, and has integrated ecosystem launch platforms such as Noxa.fun and Bankr. As an important exploration gateway for emerging assets on Gate, Alpha will connect users with popular assets and innovative projects in the Robinhood Chain ecosystem, helping users discover onchain opportunities more efficiently and improving the efficiency of exploring emerging ecosystem assets.
In terms of asset management and onchain interaction, Gate Wallet has newly added support for Robinhood Chain, enabling functions such as asset display, transfers, and DApp interaction, helping users manage onchain assets more conveniently. At the same time, Gate DEX Swap supports single-chain swaps and cross-chain swaps on the network, improving asset circulation efficiency.
In terms of trading and market services, Gate DEX professional trading supports Robinhood Chain market order trading, while the market module also supports the display of related tokens, helping users view ecosystem asset information and participate in onchain trading more conveniently. In addition, the chain scanning function has newly added support for this ecosystem and covers projects such as Noxa.fun and Bankr, helping users discover onchain hotspots promptly.
The integration of Robinhood Chain expands the boundaries of Gate DEX’s multi-chain ecosystem and enhances cross-chain interoperability. Relying on Across and LayerZero cross-chain solutions, Gate DEX enables asset circulation among BSC, Ethereum, Base, and Robinhood Chain, providing users with a more efficient and smooth multi-chain interaction experience.
Currently, Gate DEX has formed comprehensive onchain service capabilities covering asset discovery, wallet management, trading and swaps, cross-chain connections, and ecosystem applications. This ecosystem expansion is an important measure by Gate to continuously strengthen Web3 infrastructure and connect high-quality public chain ecosystems, and also reflects the platform’s continued investment in multi-chain connectivity and onchain product innovation. In the future, Gate will continue to deepen the development of the Gate DEX ecosystem, accelerate connections with more high-quality onchain networks and innovative applications, promote the continuous upgrading of Web3 product capabilities, and create a more open, efficient, and convenient onchain experience for global users.
How to Explore the Robinhood Chain Ecosystem?
Please update to Gate App v8.27.0 or above to access the new features.
About Gate Gate, founded in 2013 by Dr. Han, is one of the world’s leading cryptocurrency and integrated financial services platforms. Serving over 58 million users globally, it supports trading across 4,800+ digital assets and 12,500+ stock assets, while providing access to a comprehensive range of TradFi assets, including metals, stocks, indices, forex, and commodities, delivering users a one-stop, multi-asset trading experience and blockchain-related services. As an industry benchmark, Gate was among the first platforms to implement 100% Proof of Reserves. Its ecosystem includes Gate Wallet, Gate Ventures, Gate for AI Agent, and a wide range of products and services.
For more information, please visit: Website | X | Telegram | LinkedIn| Instagram | YouTube
Disclaimer: This content does not constitute an offer, solicitation, or recommendation. You should always seek independent professional advice before making investment decisions. Note that Gate may restrict or prohibit certain services in specific jurisdictions. For more information, please read the User Agreement.
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.
Crypto whale sets 10 profit targets, shares trade results showing he went long on Bitcoin three times, earning roughly $4 million in total profits.
A crypto contract whale, who earlier announced he would "set 10 big trading goals first", posted details of his three recent Bitcoin (BTC) transactions on social media: On June 25, he opened a long BTC position at $59,837.99 and closed it at $58,592.06, incurring a $4.88 million loss; On July 6, he opened another long BTC position at $62,590.4 and closed it at $64,022.01 for a $4.54 million profit; On July 13, he opened a third long BTC position at $63,064.4 and closed it at $64,287.08, netting a $4.27 million gain.
5 minutes ago
Binance Alpha Launches Its First Ever Alpha Points Redemption Campaign
Binance Alpha has announced the launch of its first Alpha Points redemption campaign. Users can redeem a 5 USDT Soccer Cup prediction market voucher for 5 Alpha Points, with eligibility requirements including holding at least 50 Alpha Points and completing over 100 USDT in prediction market trades during the campaign period.
5 minutes ago
Hassett: The Federal Reserve has no reason to raise interest rates, and he believes Walsh will guide the Fed to reach the correct outcome on interest rate issues.
White House National Economic Council Director Hassett: Data shows the Federal Reserve has no reason to raise interest rates. He believes Walsh will guide the Federal Reserve to reach the right conclusion on interest rate issues, and Iran’s ability to threaten the global economy has declined.
5 minutes ago
MetaMask has integrated Robinhood Chain.
MetaMask’s official announcement: Robinhood Chain is now live on its platform, enabling users to directly perform token swaps, cross-chain operations, and asset management for Robinhood Chain within MetaMask.
5 minutes ago
Bank of America: Fund managers’ bullishness on US stocks hits highest level since December 2024.
Bank of America’s Global Fund Manager Survey shows that fund managers’ bullishness toward U.S. stocks has reached its highest level since December 2024. A net 24% of respondents expect U.S. equities to outperform other regions, marking the third-highest allocation weight to U.S. stocks over the past five years. In contrast, investors have cut their allocations to British stocks, with fund managers’ confidence in London-listed shares falling to its lowest point since August 2020. Compared to other regions, the UK stock market has underperformed so far this year: London’s FTSE 100 has risen 5.7% year-to-date, while the S&P 500 has gained more than 10%.
5 minutes ago
SK Hynix's US-listed ADR premium over its Korean shares narrowed to 30.7%.
According to market data from BIT (bit.com), SK Hynix (SKHY) is down 5.8% in U.S. pre-market trading, with its current share price at $182.6. Bitget market data shows that SK Hynix’s closing price on the South Korean stock market today is 2,082,000 won, equivalent to roughly $1,397. Given each SK Hynix ADR represents one-tenth of an ordinary share, the $182.6 price is 30.7% higher than $139.7 (one-tenth of $1,397), a sharp narrowing of the premium from the 51.5% recorded at this morning’s U.S. stock close.
LayerZero Addresses Theft Fears Head-OnCross-chain messaging protocol LayerZero (@LayerZero_Core) has moved to quash fears of a security breach, confirming that funds flagged as suspicious were not stolen. According to the protocol's own disclosure, the movements were carried out as part of "standard inventory operations" and do not represent a loss of user assets.
The team was clear on two points: funds are not at risk, and the executor wallet in question was not compromised. The statement came in response to circulating reports that suggested a potential exploit or unauthorised withdrawal had taken place.
What Is a LayerZero Executor and Why Does It Matter?The executor wallet sits at the centre of how LayerZero delivers messages across blockchains. Executors ensure the seamless execution of messages on the destination chain by following instructions set by the application owner on how to automatically deliver omnichain messages. In practical terms, an executor is an off-chain service that executes messages on the destination chain after verification. Because executor wallets handle destination-chain gas and delivery, they hold operational balances that can be moved in the ordinary course of protocol management, making routine withdrawals easy to misread from the outside.
It is also worth noting that, by design, even if all executors go offline, messages remain safe and can be delivered later, while verifiers cannot censor execution. This architectural separation between verification and execution is a core safety feature of LayerZero v2.
LayerZero is one of the more widely used cross-chain infrastructure layers in the market. The protocol is the messaging foundation behind more than 733 omnichain fungible tokens, including Tether's USDT0 and PayPal's PYUSD, that have collectively processed over $166.9 billion in cross-chain transfers.
For now, LayerZero says operations are normal and users have no cause for concern. The episode is a reminder of how quickly on-chain wallet movements can be misread, particularly for infrastructure protocols where operational wallets regularly cycle funds as part of day-to-day management.
Sources:
LayerZero Documentation: Executors
LayerZero Official Website
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.
Per Specter’s monitoring, an executor wallet of LayerZero is suspected to have been attacked, involving multiple blockchains, with total losses of around $2.1 million. The attacker cross-bridged the stolen assets to Ethereum via Stargate and Relay, and currently holds 955 ETH (valued at approximately $1.78 million) and 322,000 USDC.
Relevant content
Warren Buffett: Not investing in Google back then was a mistake, and it is "more likely to be a winner" now.
Warren Buffett just stated that failing to invest in Google back then was a mistake, noting that based on its current performance, the company is now "more likely to be a winner". He also reaffirmed his optimism about Berkshire Hathaway's investment in Apple. Greg Abel is the current "decision-maker", but neither side will take any action that the other does not endorse. According to market data from BIT (bit.com), Google's US-listed stock is down 0.5% in pre-market trading, while Berkshire Hathaway currently holds approximately $310 billion worth of shares in Alphabet, Google's parent company.
2 minutes ago
Trump’s permanent daylight saving time bill passes the US House of Representatives review.
The U.S. House of Representatives passed the Sunshine Protection Act in a bipartisan vote of 308 in favor and 117 against. The bill aims to make daylight saving time permanent, adopting the current March-to-November schedule year-round. This would permanently set the U.S. stock market opening time to 9:30 PM (UTC+8), instead of switching to 10:30 PM (UTC+8) during standard time periods. States may opt out before the bill takes effect. The legislation has now been sent to the Senate for consideration and has not yet passed the upper chamber. Donald Trump publicly supports the bill, noting that the biannual clock adjustments impose huge economic costs, and he will work to push it into law. Some Republicans oppose the measure, arguing that later winter sunrises will harm student safety on their way to school, possibly leading to students commuting in darkness or delayed class start times. Supporters contend that eliminating clock changes can improve sleep, reduce accidents, and boost economic activity.
2 minutes ago
BNB has completed its 36th quarterly token burn, totaling approximately 1.6158 million BNB, valued at around $913.7 million.
BNB Chain completed its 36th quarterly BNB burn today, with a total of 1,615,827.795 BNB destroyed, valued at approximately $931.7 million at the time. The burn was executed via BSC’s on-chain Auto-Burn mechanism, and the transaction hash has been made public. The remaining total BNB supply stands at around 133.17 million. BNB’s ongoing goal of reducing its total supply to 100 million is aimed at boosting its deflationary properties and supporting the growth of the BNB Chain ecosystem.
2 minutes ago
Stable announces the launch of StablePay, a global USDT-based daily payment application.
Stable, a USDT blockchain platform focused on stablecoin payments, has announced the launch of StablePay, a global daily USDT payment application that integrates everyday USDT payment and yield-earning features into a single mobile app, with no delays, no fees, and frictionless transactions.
2 minutes ago
Galaxy Digital's Head of Research: 2026 dormant BTC activation volume is projected to be less than half of last year, with the "large distribution" phase largely complete.
Galaxy Digital Head of Research Alex Thorn stated that between 2024 and 2025, a significant volume of long-dormant Bitcoin (BTC) was reactivated and transferred on-chain, with the activity’s scale second only to 2017. He noted that the "Great Distribution" phase driven by this wave of old BTC reactivation has now largely concluded, and it is projected that the number of BTC reactivated in 2026 will be less than half of the 2025 figure.
2 minutes ago
A prediction market player turned a $10.8 million loss into an $8 million profit in just two weeks.
According to Lookonchain monitoring, a prediction market trader has reversed a massive profit and loss swing in just two weeks. The account had previously accumulated a loss of approximately $10.8 million, but has turned a profit of over $8 million via recent trades. Its notable large wins include: France vs. Spain: $9.9 million in profit; Switzerland vs. Colombia: $3.765 million; Argentina vs. Switzerland: $1.867 million; United States vs. Belgium: $1.759 million.
Aave, the largest decentralized lending protocol, has designated Chainlink’s Cross-Chain Interoperability Protocol (CCIP) as its default infrastructure for all cross-chain operations. The decision caps a two-month stretch in which roughly $7.2 billion in liquidity has migrated away from LayerZero-powered bridges to Chainlink’s rival system.
LINK was trading near $8.32 following the announcement, reflecting what looks like a market endorsement of Chainlink’s growing grip on cross-chain plumbing.
What happened and why it matters On July 13, Aave formally expanded its Chainlink CCIP integration to cover essentially everything the protocol does across multiple blockchains. That includes deposits, withdrawals, Stable Vaults rebalancing, yield optimization, GHO stablecoin transfers, and governance execution through Aave’s Delivery Infrastructure, known as a.DI.
The relationship between the two protocols is not new. Aave first started using Chainlink Data Feeds back in January 2020, and CCIP was already handling GHO bridging and multi-chain governance tasks before this expansion. But making CCIP the default standard across the entire Aave ecosystem is a different magnitude of commitment.
Advertisement
CCIP now facilitates GHO and Savings GHO transfers across 8 networks using Chainlink’s Cross-Chain Token standard.
The exploit that changed everything In April 2026, an exploit drained $292 million from a LayerZero-secured bridge connected to Kelp DAO. That single incident appears to have been the catalyst for a broad reassessment of cross-chain security across DeFi.
Since May, approximately $7.2 billion has relocated from LayerZero to Chainlink CCIP.
LlamaRisk’s Aave Risk Framework, which evaluates cross-chain solutions on security parameters, rated CCIP as the top option. Critically, the assessment found that CCIP introduces no new trust assumptions.
Aave’s decision to go with the framework’s recommendation signals something broader: major DeFi protocols are increasingly letting formal risk assessments, rather than partnerships or convenience, drive infrastructure choices.
The competitive fallout Mantle’s $2.5 billion Super Portal has also switched to CCIP, adding to the momentum.
For Chainlink, this is arguably the most significant validation of CCIP since its launch. The protocol has long been the dominant oracle provider in DeFi, but oracles and cross-chain messaging are different markets with different competitive dynamics. Winning Aave as a default client positions CCIP as the infrastructure layer that serious protocols trust with serious money.
What this means for investors LINK’s move to $8.32 after the announcement is worth watching in context. Chainlink has historically struggled to translate protocol adoption into sustained token price appreciation, partly because LINK’s tokenomics do not directly capture the full economic value of network usage in the way that, say, ETH captures gas fees.
If $7.2 billion in cross-chain activity is now flowing through Chainlink infrastructure, the fee revenue and staking demand implications could be meaningful. But investors should track the actual transaction volume through CCIP rather than taking the headline liquidity number at face value. Assets sitting in a protocol that uses CCIP and assets actively transacting through CCIP are different things.
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.
Houthi armed forces accused Saudi Arabia of airstriking Sanaa Airport, claiming the first direct flight from Iran in nearly a decade was blocked.
According to a Reuters report, Yemen’s Houthi forces accused Saudi Arabia of launching an airstrike on Sanaa International Airport, claiming the attack aimed to prevent a passenger plane from Iran from landing. The Houthis noted this was the first publicly announced direct Iran-Sana flight in nearly a decade. Saudi Arabia has not yet confirmed carrying out the airstrike. Houthi spokesman Yahya Sarea stated that Saudi Arabia launched multiple airstrikes on Sanaa Airport, marking the end of the previous de-escalation phase between the two sides, and warned Saudi Arabia would bear corresponding consequences. The Houthis subsequently announced full mobilization, warning that if further military strikes were launched, they might target airports and strategic facilities in Saudi Arabia. The report added the incident occurred shortly after an Iranian passenger plane arrived at Sanaa Airport. The Yemeni government and the Saudi-led coalition believe the flight is linked to Iran’s Islamic Revolutionary Guard Corps (IRGC) and violates relevant UN resolutions; the Houthis, however, said the flight was for civilian and humanitarian purposes. Analysts believe the incident could further undermine the relatively fragile ceasefire that has held since 2022 and raise risks to Red Sea shipping.
3 minutes ago
US storage sector stocks plummet, with SanDisk falling over 10%.
According to data from Bit.com, US-listed storage sector stocks plunged, with Western Digital (WDC) down over 6%, Seagate Technology (STX) down over 6%, Micron Technology (MU) down over 6%, and SanDisk (SNDK) down over 10%.
3 minutes ago
Financial Times: Dubai plans to build a new port to bypass the Strait of Hormuz.
According to a report by the UK’s Financial Times, Dubai plans to build a new port to bypass the Strait of Hormuz.
3 minutes ago
DTCC plans to demonstrate blockchain-based real-time stock trade settlement processes this week.
The Depository Trust & Clearing Corporation (DTCC) plans to demonstrate blockchain-powered real-time stock trading processes this Wednesday. Market participants believe this technology can streamline the clearing, settlement, and record-keeping workflows underlying Wall Street stock trades, boosting capital market operational efficiency. The test is viewed as a key step for traditional financial systems in exploring on-chain securities infrastructure. However, the project remains limited in scale during its initial phase. After years of research and development, DTCC—one of the largest U.S. securities clearing institutions—this demonstration is more of a verification exercise rather than a full-scale push to migrate the entire stock market to blockchain. Analysts note that while tokenized securities and on-chain settlement are seen as having the potential to reduce costs and enhance trading efficiency, migrating traditional financial infrastructure to blockchain still faces challenges including regulation, compliance, system compatibility, and coordination among market participants. Earlier, Joseph Spiro, DTCC’s Director of Digital Asset Products, said in a May webinar that DTCC plans to launch its tokenized services this year, will demonstrate relevant use cases in a production environment in July, and officially roll out the service in October.
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.
The probability that Bitcoin will rise to $70,000 this year has climbed to 79%.
Prediction market platform Polymarket now puts the probability of Bitcoin rising to $70,000 this year at 79%, up from 54% as of June 26. Additionally, the odds of Bitcoin hitting $80,000 stand at 32%, while the probability of it reaching $90,000 is 19%.
1 minutes ago
An alleged insider address of LAB has transferred $9.15 million worth of tokens to Aster again.
According to on-chain analyst Ai Yi (@ai_9684xtpa), a suspected insider address of LAB has transferred 10.5 million LAB tokens to Aster again. Calculated at the $0.872 price at the time of transfer, the move is worth roughly $9.15 million. This marks the address’s second transfer of LAB in the same fashion in about 22 hours. Over the past 24 hours, the address has moved a total of LAB worth approximately $18.69 million to Aster. Earlier, after the address completed the transfer last night, LAB’s price once plummeted sharply.
1 minutes ago
US-listed ETFs' assets under management climbed to $15.6 trillion, notching a new all-time high.
The Kobeissi Letter noted that the assets under management (AUM) of U.S.-listed ETFs have climbed to a record $15.6 trillion, doubling over the past 30 months. Year-to-date, investors have allocated more than $1 trillion to U.S.-listed ETFs, nearly double the year-to-date record set in 2025. At the current pace, full-year inflows are on track to top $2 trillion for the first time, roughly 33% higher than last year’s all-time high. In June alone, U.S. ETFs pulled in around $193 billion in inflows, marking the second-highest monthly inflow on record. Demand has been concentrated in U.S. large-cap, semiconductor, AI, and South Korea-focused ETFs, with the U.S. ETF market’s growth accelerating.
1 minutes ago
Hyperliquid’s perpetual contracts open interest market share hits 9%, a new all-time high.
According to hypeflows data, Hyperliquid holds a 9% share of the global perpetual contract market (covering all centralized exchanges including Binance, Bybit, OKX) by open interest, marking the highest level since the platform’s inception. Per HTX market data, HYPE is currently priced at $66.69, down 2.83% over the past 24 hours.
1 minutes ago
Smart money nets $97.2 million in total profit from a 3x short position on 1.85 million CASHCAT tokens
According to Onchain Lens monitoring, a top-performing whale on Hyperliquid has just opened a 3x short position on 1.85 million CASHCAT tokens. The wallet has accumulated a total profit of $97.2 million to date, and its latest CASHCAT position currently boasts an unrealized profit of $17,900.
1 minutes ago
Ethereum Foundation leverages AI to mine vulnerabilities: Successfully identifies security flaws, notes that manual review remains irreplaceable.
The Ethereum Foundation has disclosed that its Protocol Security team is using AI agents to conduct vulnerability hunting of Ethereum client software to boost network security. During testing, the AI successfully identified a vulnerability in the Gossipsub message propagation protocol that allows remote attackers to trigger node crashes, leading to validator nodes going offline. The flaw has since been patched and assigned CVE ID CVE-2026-34219. However, the foundation notes that AI’s biggest challenge is not discovering vulnerabilities, but distinguishing actual flaws from false positives. AI can generate vulnerability descriptions, impact analyses, and exploit code, but may also produce seemingly plausible yet non-existent issues—requiring security researchers to conduct thorough verification. The foundation outlined three common types of false positives: crashes occurring only in test environments, exploit paths that cannot be leveraged in real-world scenarios, and invalid proofs in formal verification. Additionally, the Ethereum Foundation believes AI is currently better at analyzing individual code issues, but has limited ability to identify complex attack chains formed by multiple legitimate operations—an attack vector that has been the primary cause of breaches for multiple crypto protocols this year. Going forward, the foundation plans to have AI assist in generating potential attack paths, which will then be verified via manual and automated testing to further improve the efficiency and accuracy of vulnerability discovery.
A single compromised oracle just cost someone $292 million. The KelpDAO exploit, which drained 116,500 rsETH through LayerZero’s infrastructure on April 18, marks one of the largest DeFi hacks of the year, and it happened because of something the industry has been quietly ignoring: cross-chain protocols are essentially oracle networks, and oracle networks have single points of failure.
Chronicle Labs CEO Niklas Kunkel put it bluntly. Interoperability protocols like LayerZero and Chainlink CCIP are, at their core, oracles. Every time a project uses cross-chain communication, it’s placing its trust in these verification systems. When that trust gets exploited, the results are catastrophic.
How the attack unfolded The breach targeted LayerZero’s Decentralized Verifier Network, or DVN, which is the infrastructure responsible for validating cross-chain messages. Attackers compromised internal RPC nodes through social engineering, essentially tricking their way into the system rather than breaking through code.
LayerZero Labs published its incident report on May 20, attributing the attack to TraderTraitor, a North Korean threat actor linked to the Lazarus Group.
Advertisement
Here’s the thing about LayerZero’s architecture. It separates oracles (verifiers) from relayers to create a system of checks and balances for cross-chain validation. In theory, this dual-layer approach makes attacks harder. In practice, KelpDAO was running a single-DVN configuration, which meant compromising one verification layer was enough to drain the entire protocol.
The oracle problem nobody wanted to talk about LayerZero’s model was supposed to be different. By letting applications choose their own security configurations, including which DVNs to use and how many to require, the protocol positioned itself as more flexible and potentially more secure than monolithic bridge designs. But flexibility cuts both ways. When projects opt for minimal security setups to save on costs or reduce complexity, they’re effectively choosing speed over safety.
The incident report from LayerZero Labs outlined plans to improve security protocols and eliminate single-DVN setups in future deployments.
When you bridge assets across chains, you’re not just moving tokens. You’re trusting an oracle to correctly verify that a transaction happened on Chain A before releasing funds on Chain B. If that oracle lies, or is forced to lie, the money is gone.
Chronicle Labs and the redundancy argument Chronicle Labs, which Kunkel founded after spinning the company off from MakerDAO in 2023, has been building decentralized oracle infrastructure for both tokenized assets and real-world assets. The firm has historically secured over $20 billion in assets and raised $12 million in seed funding in March 2025.
The company’s pitch centers on redundancy and robust verification, which is exactly the opposite of what failed in the KelpDAO exploit. Rather than allowing single points of failure, Chronicle’s approach emphasizes multiple layers of validation that an attacker would need to compromise simultaneously.
What this means for investors and builders Investors with assets deployed across multiple chains need to understand that every bridge interaction carries oracle risk. A protocol using multiple independent DVNs presents a fundamentally different risk profile than one using a single verifier, even if both run on the same underlying LayerZero technology.
For builders, the cost savings from running minimal verification setups now need to be weighed against the existential risk of a complete protocol drain. LayerZero’s commitment to eliminating single-DVN configurations will likely become an industry standard, not a differentiator.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Why Is Mantle Moving From LayerZero to Chainlink CCIP? Mantle is migrating its Super Portal from LayerZero’s Omnichain Fungible Token standard to Chainlink’s Cross-Chain Token standard, making it the latest project to replace LayerZero for high-value token transfers.
The move pushes the total value of announced migrations from LayerZero to Chainlink’s Cross-Chain Interoperability Protocol above $7.24 billion since May. The migration includes MNT, the native token of Mantle’s network, which has more than $2.5 billion in value locked.
Mantle’s Super Portal, co-developed with Bybit, enables transfers of MNT between Ethereum and Solana. Support for additional blockchain networks is planned. During the migration, the portal will be suspended between July 9 and July 15. Existing MNT on Ethereum and Solana, along with MNT activity on Byreal and Bybit, will remain unaffected.
The migration is not only a technical upgrade. It reflects a broader reassessment of cross-chain infrastructure after a year in which bridge security has become one of the most important risk areas in crypto. Bridges allow tokens and data to move between blockchains, but they also concentrate risk because a single failure can expose large amounts of user assets.
How Did The Kelp Exploit Change Bridge Risk? The current wave of migrations began after the $292 million Kelp bridge exploit earlier this year. The incident increased scrutiny of LayerZero-powered bridge configurations and pushed projects managing large pools of wrapped, tokenized, or cross-chain assets to review their infrastructure.
Kelp later announced it would migrate more than $1.5 billion in assets to Chainlink CCIP. Since then, other projects have followed. Solv Protocol migrated $700 million in tokenized bitcoin, Re moved $475 million, Kraken transferred $330 million in wrapped assets, Lombard migrated more than $1 billion, Virtuals Protocol moved $700 million, and Yuzu Money transferred $54.5 million.
The pattern shows how quickly security concerns can reshape infrastructure choices in decentralized finance. Cross-chain systems are no longer peripheral services used only for convenience. They are becoming core rails for tokenized bitcoin, exchange-backed wrapped assets, yield products, and network-native tokens moving across multiple chains.
That makes bridge selection a direct market-structure issue. If token issuers and exchanges lose confidence in a transfer standard, liquidity can shift toward competing infrastructure even when the affected protocol remains widely integrated across the market.
Investor Takeaway The migration wave shows that cross-chain infrastructure is being judged less on distribution alone and more on risk controls. For investors, bridge security has become a key factor in assessing DeFi protocols, wrapped assets, and tokenized asset platforms.
What Does Chainlink CCIP Offer Mantle? Under the new setup, Chainlink CCIP will secure MNT transfers using its decentralized oracle network. Mantle said the migration also gives it direct control over token pools and transfer settings through the Cross-Chain Token standard.
That control matters as Mantle expands MNT to additional blockchain networks and tokenized asset markets. Projects moving assets across chains need transfer infrastructure that can support security controls, supply management, and network expansion without relying entirely on external bridge configurations.
Chainlink’s Cross-Chain Token standard is designed to support token movement across chains while giving issuers more control over how assets are minted, burned, locked, or released. For projects with large token economies, that can reduce operational complexity and make bridge governance more central to token risk management.
“As tokenized financial assets move from concept to scale, the infrastructure that carries them across chains cannot be an afterthought,” Emily Bao, a key advisor at Mantle, said in a statement.
The comment points to a larger shift in the market. Tokenized assets are moving from pilot projects to higher-value deployment, and the infrastructure behind them is being tested against institutional expectations for resilience, monitoring, and operational control.
What Does This Mean For LayerZero And Cross-Chain Competition? LayerZero remains one of the most widely used cross-chain messaging protocols, but the latest migration wave increases pressure on its position in high-value asset transfers. When multiple projects with billions of dollars in assets move to a rival protocol in a short period, the market reads it as a confidence shift even if the technology competition remains open.
The challenge for LayerZero is not only retaining integrations. It must also address concerns around how its bridge configurations are secured, reviewed, and governed after major incidents. For Chainlink, the opportunity is to convert security concerns into market share across tokenized assets, wrapped assets, and DeFi-native liquidity.
For exchanges and institutions, the lesson is direct. Cross-chain infrastructure can affect custody risk, liquidity access, user trust, and regulatory conversations around asset movement. As crypto markets spread across competing blockchains, the protocols that move assets between them are becoming part of the financial plumbing rather than background software.
Mantle’s migration shows that projects with large token economies are willing to pause transfer systems and replace bridge standards when risk reviews point in that direction. The result is a more competitive cross-chain market, but also one where security failures can trigger rapid and costly infrastructure rotation.
¿Por qué Mantle pasa de LayerZero a Chainlink CCIP? Mantle está migrando su Super Portal del estándar Omnichain Fungible Token de LayerZero al estándar Cross-Chain Token de Chainlink, convirtiéndose en el último proyecto en sustituir a LayerZero para transferencias de tokens de alto valor.
Este movimiento eleva el valor total de las migraciones anunciadas desde LayerZero hacia el Cross-Chain Interoperability Protocol de Chainlink por encima de los 7.240 millones de dólares desde mayo. La migración incluye a MNT, el token nativo de la red de Mantle, que cuenta con más de 2.500 millones de dólares en valor bloqueado.
El Super Portal de Mantle, desarrollado conjuntamente con Bybit, permite transferencias de MNT entre Ethereum y Solana. Está previsto añadir soporte para redes blockchain adicionales. Durante la migración, el portal estará suspendido entre el 9 y el 15 de julio. El MNT existente en Ethereum y Solana, junto con la actividad de MNT en Byreal y Bybit, no se verá afectada.
La migración no es solo una actualización técnica. Refleja una reevaluación más amplia de la infraestructura entre cadenas tras un año en el que la seguridad de los puentes se ha convertido en una de las áreas de riesgo más importantes en el ecosistema cripto. Los puentes permiten que tokens y datos se muevan entre distintas blockchains, pero también concentran riesgo, ya que un solo fallo puede exponer grandes cantidades de activos de los usuarios.
¿Cómo cambió el exploit de Kelp el riesgo de los puentes? La actual ola de migraciones comenzó tras el exploit del puente de Kelp por 292 millones de dólares a principios de este año. El incidente incrementó el escrutinio sobre las configuraciones de puentes basadas en LayerZero y llevó a los proyectos que gestionan grandes reservas de activos wrapped, tokenizados o cross-chain a revisar su infraestructura.
Kelp anunció posteriormente que migraría más de 1.500 millones de dólares en activos a Chainlink CCIP. Desde entonces, otros proyectos han seguido el mismo camino. Solv Protocol migró 700 millones de dólares en bitcoin tokenizado, Re trasladó 475 millones de dólares, Kraken transfirió 330 millones de dólares en activos wrapped, Lombard migró más de 1.000 millones de dólares, Virtuals Protocol movió 700 millones de dólares, y Yuzu Money transfirió 54,5 millones de dólares.
Este patrón muestra la rapidez con la que las preocupaciones de seguridad pueden reconfigurar las decisiones de infraestructura en las finanzas descentralizadas. Los sistemas cross-chain ya no son servicios periféricos utilizados únicamente por conveniencia. Se están convirtiendo en la infraestructura central para el bitcoin tokenizado, los activos wrapped respaldados por exchanges, los productos de rendimiento y los tokens nativos de red que se mueven entre múltiples cadenas.
Esto convierte la elección de puente en una cuestión directa de estructura de mercado. Si los emisores de tokens y los exchanges pierden confianza en un estándar de transferencia, la liquidez puede desplazarse hacia infraestructuras rivales incluso cuando el protocolo afectado siga ampliamente integrado en el mercado.
Conclusión para inversores La ola de migraciones demuestra que la infraestructura cross-chain se está evaluando cada vez menos por su distribución únicamente y cada vez más por sus controles de riesgo. Para los inversores, la seguridad de los puentes se ha convertido en un factor clave a la hora de evaluar protocolos DeFi, activos wrapped y plataformas de activos tokenizados.
¿Qué ofrece Chainlink CCIP a Mantle? Con la nueva configuración, Chainlink CCIP protegerá las transferencias de MNT mediante su red descentralizada de oráculos. Mantle señaló que la migración también le otorga control directo sobre los pools de tokens y los ajustes de transferencia a través del estándar Cross-Chain Token.
Ese control resulta relevante a medida que Mantle expande MNT hacia redes blockchain adicionales y mercados de activos tokenizados. Los proyectos que trasladan activos entre cadenas necesitan una infraestructura de transferencia capaz de soportar controles de seguridad, gestión de suministro y expansión de red sin depender por completo de configuraciones de puentes externos.
El estándar Cross-Chain Token de Chainlink está diseñado para respaldar el movimiento de tokens entre cadenas, otorgando a los emisores mayor control sobre cómo se acuñan, queman, bloquean o liberan los activos. Para proyectos con grandes economías de tokens, esto puede reducir la complejidad operativa y dar mayor centralidad a la gobernanza de los puentes dentro de la gestión de riesgo de los tokens.
“A medida que los activos financieros tokenizados pasan del concepto a la escala real, la infraestructura que los traslada entre cadenas no puede ser un asunto secundario”, afirmó Emily Bao, asesora clave de Mantle, en un comunicado.
Este comentario apunta a un cambio más amplio en el mercado. Los activos tokenizados están pasando de proyectos piloto a despliegues de mayor valor, y la infraestructura que los sustenta está siendo puesta a prueba frente a las expectativas institucionales de resiliencia, monitoreo y control operativo.
¿Qué implica esto para LayerZero y la competencia cross-chain? LayerZero sigue siendo uno de los protocolos de mensajería cross-chain más utilizados, pero la última ola de migraciones aumenta la presión sobre su posición en las transferencias de activos de alto valor. Cuando varios proyectos con miles de millones de dólares en activos migran hacia un protocolo rival en un breve período, el mercado lo interpreta como un cambio de confianza, incluso si la competencia tecnológica sigue abierta.
El desafío para LayerZero no consiste solo en retener integraciones. También debe abordar las inquietudes sobre cómo se protegen, revisan y gobiernan sus configuraciones de puentes tras incidentes importantes. Para Chainlink, la oportunidad consiste en convertir las preocupaciones de seguridad en cuota de mercado dentro de los activos tokenizados, los activos wrapped y la liquidez nativa de DeFi.
Para los exchanges y las instituciones, la lección es clara. La infraestructura cross-chain puede afectar al riesgo de custodia, al acceso a la liquidez, a la confianza de los usuarios y a las conversaciones regulatorias en torno al movimiento de activos. A medida que los mercados cripto se distribuyen entre blockchains competidoras, los protocolos que trasladan activos entre ellas se están convirtiendo en parte de la infraestructura financiera esencial, y no en un simple software de fondo.
La migración de Mantle demuestra que los proyectos con grandes economías de tokens están dispuestos a pausar sus sistemas de transferencia y sustituir estándares de puentes cuando las revisiones de riesgo así lo indican. El resultado es un mercado cross-chain más competitivo, pero también uno en el que los fallos de seguridad pueden desencadenar una rotación de infraestructura rápida y costosa.
Por Que a Mantle Está Migrando da LayerZero para a Chainlink CCIP? A Mantle está migrando seu Super Portal do padrão Omnichain Fungible Token da LayerZero para o padrão Cross-Chain Token da Chainlink, tornando-se o mais recente projeto a substituir a LayerZero em transferências de tokens de alto valor.
A movimentação eleva o valor total das migrações anunciadas da LayerZero para o Cross-Chain Interoperability Protocol da Chainlink para além de US$ 7,24 bilhões desde maio. A migração inclui o MNT, o token nativo da rede da Mantle, que possui mais de US$ 2,5 bilhões em valor bloqueado.
O Super Portal da Mantle, desenvolvido em conjunto com a Bybit, permite transferências de MNT entre Ethereum e Solana. O suporte a redes blockchain adicionais está planejado. Durante a migração, o portal ficará suspenso entre 9 e 15 de julho. O MNT já existente em Ethereum e Solana, junto com a atividade de MNT na Byreal e na Bybit, permanecerá inalterado.
A migração não é apenas uma atualização técnica. Ela reflete uma reavaliação mais amplo da infraestrutura cross-chain após um ano em que a segurança de bridges se tornou uma das áreas de risco mais importantes no mercado cripto. As bridges permitem que tokens e dados se movam entre blockchains, mas também concentram risco, já que uma única falha pode expor grandes volumes de ativos de usuários.
Como o Exploit da Kelp Mudou o Risco das Bridges? A atual onda de migrações começou após o exploit de US$ 292 milhões sofrido pela bridge da Kelp no início deste ano. O incidente aumentou o escrutínio sobre configurações de bridges baseadas em LayerZero e levou projetos que gerenciam grandes volumes de ativos wrapped, tokenizados ou cross-chain a revisar suas infraestruturas.
A Kelp anunciou posteriormente que migraria mais de US$ 1,5 bilhão em ativos para a Chainlink CCIP. Desde então, outros projetos seguiram o mesmo caminho. A Solv Protocol migrou US$ 700 milhões em bitcoin tokenizado, a Re movimentou US$ 475 milhões, a Kraken transferiu US$ 330 milhões em ativos wrapped, a Lombard migrou mais de US$ 1 bilhão, a Virtuals Protocol movimentou US$ 700 milhões e a Yuzu Money transferiu US$ 54,5 milhões.
O padrão mostra a rapidez com que preocupações de segurança podem remodelar escolhas de infraestrutura nas finanças descentralizadas. Os sistemas cross-chain deixaram de ser serviços periféricos usados apenas por conveniência. Eles estão se tornando trilhos centrais para bitcoin tokenizado, ativos wrapped garantidos por corretoras, produtos de rendimento e tokens nativos de rede que se movem entre múltiplas chains.
Isso torna a escolha de bridges uma questão direta de estrutura de mercado. Se emissores de tokens e exchanges perderem confiança em um padrão de transferência, a liquidez pode se deslocar para infraestruturas concorrentes mesmo quando o protocolo afetado permanece amplamente integrado no mercado.
Conclusão para Investidores A onda de migrações mostra que a infraestrutura cross-chain está sendo avaliada não apenas pela distribuição, mas cada vez mais por seus controles de risco. Para os investidores, a segurança das bridges se tornou um fator-chave na avaliação de protocolos DeFi, ativos wrapped e plataformas de ativos tokenizados.
O Que a Chainlink CCIP Oferece à Mantle? Sob a nova configuração, a Chainlink CCIP garantirá as transferências de MNT usando sua rede descentralizada de oráculos. A Mantle afirmou que a migração também lhe dá controle direto sobre pools de tokens e configurações de transferência por meio do padrão Cross-Chain Token.
Esse controle é relevante à medida que a Mantle expande o MNT para redes blockchain adicionais e mercados de ativos tokenizados. Projetos que movimentam ativos entre chains precisam de infraestrutura de transferência capaz de suportar controles de segurança, gestão de oferta e expansão de rede sem depender totalmente de configurações externas de bridges.
O padrão Cross-Chain Token da Chainlink foi criado para suportar a movimentação de tokens entre chains, dando aos emissores mais controle sobre como os ativos são emitidos, queimados, bloqueados ou liberados. Para projetos com grandes economias de tokens, isso pode reduzir a complexidade operacional e tornar a governança das bridges mais central na gestão de risco dos tokens.
“À medida que os ativos financeiros tokenizados saem do conceito e ganham escala, a infraestrutura que os transporta entre chains não pode ser tratada como algo secundário”, afirmou Emily Bao, consultora-chave da Mantle, em comunicado.
O comentário aponta para uma mudança mais ampla no mercado. Os ativos tokenizados estão deixando de ser projetos-piloto e passando a implantações de maior valor, e a infraestrutura por trás deles está sendo testada em relação às expectativas institucionais de resiliência, monitoramento e controle operacional.
O Que Isso Significa Para a LayerZero e a Concorrência Cross-Chain? A LayerZero continua sendo um dos protocolos de mensageria cross-chain mais utilizados, mas a atual onda de migrações aumenta a pressão sobre sua posição em transferências de ativos de alto valor. Quando múltiplos projetos com bilhões de dólares em ativos migram para um protocolo rival em um curto período, o mercado interpreta isso como uma mudança de confiança, mesmo que a concorrência tecnológica permaneça aberta.
O desafio para a LayerZero não é apenas manter integrações. A empresa também precisa endereçar preocupações sobre como suas configurações de bridges são protegidas, revisadas e governadas após incidentes de grande porte. Para a Chainlink, a oportunidade é converter preocupações de segurança em participação de mercado nos segmentos de ativos tokenizados, ativos wrapped e liquidez nativa de DeFi.
Para exchanges e instituições, a lição é direta. A infraestrutura cross-chain pode afetar o risco de custódia, o acesso à liquidez, a confiança dos usuários e as discussões regulatórias em torno da movimentação de ativos. À medida que os mercados cripto se espalham por blockchains concorrentes, os protocolos que movem ativos entre elas estão se tornando parte da infraestrutura financeira essencial, e não mais um software de segundo plano.
A migração da Mantle mostra que projetos com grandes economias de tokens estão dispostos a pausar sistemas de transferência e substituir padrões de bridges quando as revisões de risco apontam nessa direção. O resultado é um mercado cross-chain mais competitivo, mas também um cenário em que falhas de segurança podem desencadear rotações de infraestrutura rápidas e onerosas.
Mantle is migrating its $2.5 billion Super Portal from LayerZero to Chainlink's CCT standard to enhance security and control over token transfer settings.Migrations to Chainlink CCIP so far include Kelp and Lombard, both of which brought over $1 billion, as well as Solv Protocol, Virtuals, Re and Kraken’s tokenized assets.The Mantle migration will occur from July 9 to the 15, enabling the project to expand MNT token transfers to additional blockchain networks while securing assets via oracles.More than $7.2 billion in cross-chain and wrapped assets have migrated from LayerZero to Chainlink's Cross-Chain Interoperability Protocol (CCIP) since May, with Mantle becoming the latest project to replace LayerZero for high-value token transfers.
Mantle said it is migrating its Super Portal, which it co-developed with Bybit, from LayerZero's Omnichain Fungible Token (OFT) standard to Chainlink's Cross-Chain Token (CCT) standard.
LayerZero and Chainlink CCIP both let token holders move assets between blockchains, a basic requirement as crypto markets spread across competing networks.
The infrastructure matters because bridges between different blockchains have become one of crypto’s largest security risks, with a single failure able to expose hundreds of millions of dollars in user assets.
The portal enables transfers of the MNT token between Ethereum and Solana, with support for additional blockchain networks planned.
The migration includes MNT, the native token of Mantle's network, which has more than $2.5 billion in value locked. Mantle's move pushes the total value of announced migrations from LayerZero to Chainlink CCIP above $7.24 billion.
The shift began after the $292 million Kelp bridge exploit earlier in the year, which increased scrutiny of LayerZero-powered bridge configurations. Kelp later announced it would migrate more than $1.5 billion in assets to Chainlink CCIP.
Since then, Solv Protocol migrated $700 million in tokenized bitcoin, Re moved $475 million, Kraken transferred $330 million in wrapped assets, Lombard migrated more than $1 billion, Virtuals Protocol moved $700 million and Yuzu Money transferred $54.5 million.
Mantle said its Super Portal will be suspended during the migration, which is scheduled to take place between July 9 and July 15. Existing MNT on Ethereum and Solana, along with MNT activity on Byreal and Bybit, will remain unaffected.
"As tokenized financial assets move from concept to scale, the infrastructure that carries them across chains cannot be an afterthought," Emily Bao, a key advisor at Mantle, said in a statement.
Under the new setup, Chainlink CCIP will secure MNT transfers using its decentralized oracle network. Mantle said the migration also gives it direct control over token pools and transfer settings under the CCT standard as it expands MNT to additional blockchain networks and tokenized asset markets.
@Mantle_Official has confirmed it is migrating its Super Portal from @LayerZero_Core to @Chainlink's Cross-Chain Interoperability Protocol (CCIP), the latest in a string of high-profile departures from LayerZero that now totals over $7.2 billion in migrated value.
A Growing Exodus From LayerZero The backdrop to Mantle's move is a security incident that rattled the cross-chain sector. The shift accelerated after a $292 million exploit drained 116,500 rsETH from Kelp DAO's LayerZero-powered bridge in April 2026. The Kelp DAO exploit was not a failure of LayerZero's core smart contracts, but of its flexible security model. LayerZero allows applications to select their own Decentralised Verifier Networks (DVNs), off-chain actors responsible for validating events on a source chain before triggering an action on a destination chain. In the Kelp DAO case, the DVN was configured as a 1-of-1 set, meaning a single compromised verifier was sufficient to authorise fraudulent transfers.
That incident prompted a broad reassessment of cross-chain infrastructure across DeFi. Mantle joins Kelp DAO and Lombard Finance in the move to CCIP. Lombard migrated its over $1 billion in bitcoin-backed assets from LayerZero to Chainlink CCIP after a security review following the Kelp DAO exploit. Other protocols including Solv, Re.xyz, and Kraken have made similar moves. Johann Eid, chief business officer at Chainlink Labs, described the trend as "a continued flight to safety across the industry."
Why Protocols Are Choosing CCIP Chainlink's CCIP operates on a different, less flexible model. Each cross-chain lane is secured by a set of at least 16 independent, Chainlink-operated node operators, creating a high threshold for collusion or compromise. CCIP also integrates a separate Risk Management Network that monitors for anomalous activity and enforces value-based rate limits on each lane, acting as a circuit breaker to cap potential losses. Chainlink recently completed a SOC 2 Type 2 examination for CCIP, a compliance certification typically associated with enterprise cloud providers and financial infrastructure companies, making it the only major oracle and interoperability provider with that tier of certification. SOC 2 Type 2 means an independent auditor spent months verifying that Chainlink's security controls actually work as advertised over a sustained period.
For Mantle, the decision aligns with a broader platform strategy. The project said it is "thrilled to adopt the Chainlink standard," with its head of BD, Mark Veer, adding that the integration "enhances Mantle's cross-chain capabilities and strengthens our alignment with Chainlink's extensive ecosystem." Chainlink CCIP has supported over $28 trillion in cumulative on-chain transaction value and averages approximately $90 million in weekly token transfers.
Meanwhile, LayerZero has since removed support for 1-of-1 DVN configurations and announced plans to move most routes toward stricter 5-of-5 verifier setups. The protocol maintains significant volume, but the reputational damage from the Kelp DAO incident continues to shape infrastructure decisions across the sector.
Sources:
Mantle official blog: Mantle Adopts the Chainlink Standard
CoinDesk: Crypto firms move $4 billion in assets to Chainlink
Crypto.news: Chainlink CCIP draws $4B from LayerZero exodus
Crypto-related stocks in U.S. markets continued their rally during trading hours, with MARA surging 15.27%.
According to market data from BIT (bit.com), US-listed crypto-related stocks continued to strengthen during intraday trading. Details: Strategy (MSTR) rose 2.11%; Circle (CRCL) gained 0.83%; MARA Holdings (MARA) surged 15.27% after announcing the acquisition of a Texas-based 2000MW computing power park project company for up to $600 million; Riot Platforms (RIOT) climbed 6.1%.
40 minutes ago
JPMorgan: The biggest risk for Bitcoin is not Strategy’s sell-off, but blockchain adoption that bypasses public chains and tokens.
JPMorgan Chase’s analyst team noted that the market views Strategy’s Bitcoin sale plan as a key risk for the crypto sector, but it is not a major structural threat to Bitcoin. The more fundamental risk lies in tokenization, payments, and settlements increasingly taking place on permissioned infrastructure that does not rely on public blockchains. If this trend continues, the entire crypto ecosystem could face a "structural downgrade"—marked by slower transaction activity, reduced liquidity, and weaker capital inflows—ultimately weighing on Bitcoin. The analysts stated bluntly: "In our view, a more significant risk stems from the way blockchain is adopted in traditional finance, which continues to bypass public, permissionless networks." The analysts explained that institutional adoption so far has clearly favored permissioned chains, as they offer advantages in privacy, KYC/AML controls, governance, throughput, legal accountability, and regulatory certainty, posing a competitive threat to public blockchains like Ethereum. If tokenized deposits are widely adopted—especially in non-transferable forms favored by regulators—it could reduce demand for stablecoins in institutional payments and settlements; SWIFT’s blockchain initiative and central bank digital currency (CBDC) projects such as the digital euro and digital renminbi further strengthen regulated alternatives. In the roughly $500 billion tokenized real-world assets market, while Ethereum currently holds a certain share, this likely reflects early-stage experimentation rather than the market’s long-term structure. As institutional adoption grows, issuance, custody, settlement, and lifecycle management will likely be conducted more on private or permissioned infrastructure that meets requirements for identity, confidentiality, and operational resilience, with public blockchains used only for distribution and limited secondary trading.
40 minutes ago
Security Warning: Abnormal on-chain fund flows detected for the CodexField project on BNB Chain.
On-chain investigator Specter has issued a community security alert, warning of potential fund misappropriation risks associated with the CodexField project on BNB Chain. On-chain tracking shows the project has amassed over $85 million in funds. Specter detected abnormal on-chain fund flows yesterday: a wallet bridged 17.3 million USDT from TRON to Ethereum, then swapped the tokens for DAI via Bitget Swap on Polygon. So far, $6.5 million has been transferred out, while the remaining $10.8 million is still in transit. The funds were originally bridged from Ethereum to TRON roughly six months ago, and the source wallet is linked to CodexField’s deposit contract. Below are key addresses for users to verify on their own: EVM: 0xBc606358910b3720d136F0d4Ce12b759C270747a TRON: TQNTEYadFVVQeobBtctSjurJ5RpfBsTmqh, TAzpg8L1WkkzCxxZk8TYnvaRYahehh52MK Related deposit contract: 0x9E6A75b546B65E7B9D34E2c9aB8Fe224B9aA52AA Additional red flags: The project requires a minimum $100 deposit for participation. Blockchain security tool Blocksec MetaSuites initially labeled the deposit contract as "Fake CodexField", but Specter’s follow-up investigation found the contract is actually operated by the CodexField team itself. The project uses multiple domains and subdomains to collect user deposits, and the team previously shared these domains via official channels. Its fund flow pattern is unusual, deviating from standard fund management practices: the project bridges funds across multiple blockchains, routes them through intermediate wallets, and ultimately sends assets to centralized exchanges. Specter noted that based on on-chain activity, the project warrants high vigilance. It advises all users interacting with CodexField to exercise extreme caution until the team provides a transparent explanation of its fund movements.
40 minutes ago
Post-quantum cryptography management platform QIZ Security closes $17 million seed round.
QIZ Security, a crypto posture and post-quantum cryptography (PQC) management platform, announced the completion of a $17 million seed funding round, led by Bessemer Venture Partners and Merlin Ventures, with participation from Evolution Equity Partners, Qbeat Ventures, Singtel Innov8, and Qino Cyber Capital. The capital will be used to accelerate product R&D and market expansion. QIZ Security was co-founded by Ben Volkow, Lenny Ridel, and Itan Barmes; the team has years of experience in cybersecurity, enterprise services, and post-quantum transformation, with Barmes previously leading Deloitte’s global quantum cybersecurity readiness team. Its platform helps enterprises identify and assess crypto asset risks and implement remediation measures, and is currently applied in industries including finance, telecommunications, healthcare, and critical infrastructure. It has also established partnerships with Cisco, AWS, Google, CrowdStrike, Deloitte, EY, and IBM, among others.
40 minutes ago
Hyperliquid recommends that the U.S. Commodity Futures Trading Commission (CFTC) formally recognize that on-chain protocols are not required to register, and non-custodial wallets do not serve as financial intermediaries.
Hyperliquid Policy Center (HPC) and Phantom have jointly submitted comments to the U.S. Commodity Futures Trading Commission (CFTC) in response to the agency’s request for feedback on whether existing rules keep pace with the evolution of financial technology, proposing to explicitly extend the distinction between "building tools" and "operating regulated businesses" to on-chain markets. The comments note that software engineers have been developing matching engines for regulated futures trading platforms for decades, and the CFTC has never classified them as trading platform operators. However, developers in the digital asset sector have long lacked such clarity, forcing many to opt for offshore development. The current CFTC, led by Chairman Selig, is working to address this gap and carve out room for innovation for fintech firms in digital asset and derivatives markets. The two entities put forward three key recommendations: First, explicitly confirm that merely publishing on-chain protocol software itself does not require registration — a factor often decisive for engineers when choosing where to develop. Second, establish a clear path for the CFTC’s registration bodies to operate regulated functions using on-chain infrastructure, enabling trading platforms and clearinghouses to replace decades-old legacy systems with transparent infrastructure. Third, formalize Phantom’s recent no-action letter into official rules, eliminating the need for self-custody wallet providers to apply for approved exemptions on a case-by-case basis. HPC and Phantom stress that self-custody and transparent on-chain systems can embed investor protection directly into technology, while regulated intermediaries retain responsibility for issues that technology cannot resolve independently. This approach will bring the next generation of financial markets within reach of U.S. consumers.
40 minutes ago
Micron raises its U.S. investment plan to $250 billion, betting on demand for AI memory chips.
Micron Technology plans to increase spending on its new U.S. factory to $250 billion to meet the surging demand for memory chips driven by the global artificial intelligence boom. The move adds $50 billion to Micron’s previously announced $200 billion commitment to expanding domestic U.S. chip manufacturing, covering projects in New York, Idaho, and Virginia. The expenditure is expected to run through 2035, and will help the company achieve its target of producing 40% of its DRAM products in the U.S. within the next decade.
Mantle is moving its Super Portal, developed with Bybit, to Chainlink’s Cross-Chain Interoperability Protocol (CCIP), replacing LayerZero as the cross-chain infrastructure securing transfers of the MNT token across Mantle’s more than $2.5 billion ecosystem.
The company said the migration strengthens security through Chainlink’s decentralized oracle network and institutional-grade safeguards while giving Mantle direct control over its cross-chain token infrastructure under the Cross-Chain Token standard. The Super Portal will be suspended temporarily during the transition, with no action required from users.
Advertisement
Emily Bao, a key advisor at Mantle, said the decision would provide institutional-grade security for MNT transfers as tokenized assets gain wider adoption.
“As tokenized financial assets move from concept to scale, the infrastructure that carries them across chains cannot be an afterthought,” Bao noted.
Mantle said the new infrastructure will enable MNT to expand across more blockchain networks as demand grows for cross-chain movement of tokenized assets.
Chainlink’s CCIP has gained momentum after several crypto projects such as Virtuals and Lombard migrated away from LayerZero in the wake of a high-profile DeFi exploit. The transition has resulted in more than $7.2 billion worth of cross-chain and wrapped assets moving onto Chainlink’s network since May.
“We’re continuing to see an industry trend of leading protocols upgrading their cross-chain infrastructure to meet the requirements of institutional adoption,” Johann Eid, Chief Business Officer at Chainlink Labs, stated. “Mantle’s migration to Chainlink CCIP reflects the growing recognition that secure-by-default infrastructure is critical for any cross-chain deployment to succeed at scale.”
Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.
The multi-billion-dollar renovation of crypto’s cross-chain plumbing just picked up speed. More than $7.2 billion in total value has now migrated from LayerZero to Chainlink’s Cross-Chain Interoperability Protocol (CCIP), a wave that now includes Mantle, the Ethereum layer-2 network, as its most recent participant. The flows were detailed in the original report on the migration event.
The movement isn’t a one-off. Projects Kelp and Lombard each brought over $1 billion when they made the switch earlier. Solv Protocol, Virtuals, Re, and tokenized assets from Kraken have also shifted their cross-chain messaging to CCIP. The sheer scale turns a series of protocol decisions into something that looks like a structural preference pivot—not just a change of vendor, but a bet on which interoperability standard will anchor the next phase of on-chain finance.
For users and developers, the practical difference between LayerZero and CCIP sits deep in the stack. LayerZero built its reputation on lightweight, oracle-and-relayer architectures optimized for speed. Chainlink’s CCIP, by contrast, leans on the same decentralized oracle networks that already secure billions in DeFi value, adding an extra layer of risk management, active monitoring, and a heavier compliance-friendly footprint. When protocols like Mantle decide to migrate, they are implicitly choosing that security model over the more minimalist alternative.
Tokenized assets and the compliance overlay One detail that deserves attention is the presence of Kraken’s tokenized assets among the migrations. Real-world asset (RWA) projects and institutional tokenization efforts are heavily exposed to regulatory risk, and the choice of cross-chain rail matters. CCIP’s architecture includes programmable token transfers and configurable rate limits, features designed to meet the oversight expectations of regulated entities. As the weekly tokenization roundup showed, the RWA market crossed $20 billion on-chain recently, and with institutional settlement experiments accelerating, the infrastructure layer that handles cross-chain messages for these assets becomes a competitive moat.
That doesn’t mean LayerZero is frozen out. The protocol still powers a large volume of general-purpose bridging and messaging. But the departure of heavy hitters—projects that collectively account for billions in user deposits and transaction flow—narrows the band of use cases where LayerZero remains the default. It also reshapes how liquidity providers assess bridge risk, a factor that could feed back into rates and insurance costs across DeFi platforms.
Interoperability competition resets The migration cluster reflects a broader reset in the interoperability layer. For years, the narrative was about connecting every chain to every other chain as cheaply as possible. Now the conversation is about security guarantees, exploit recovery, and deep integration with existing oracle pricing feeds. Chainlink has spent over a year building out CCIP’s security model exactly along those lines, and the inflow of value suggests that protocols are willing to pay for that overhead.
Developer activity data supports the idea that infrastructure battles are being fought at the protocol level. According to a recent Top 10 Blockchains by Developer Activity This Week report, Ethereum and its layer-2 ecosystem continue to dominate weekly commits, and that’s where CCIP is getting most of its traction. It’s not simply about which bridging protocol developers build with; it’s about which one gets embedded into the standard stack of high-value applications.
Still, uncertainty remains. There is no public, real-time dashboard that cleanly compares the security incidents, liveness failures, or fee structures of all major cross-chain protocols over a multi-year window. The decision to migrate is often opaque, driven by commercial agreements, risk committee assessments, or token incentive deals that outsiders cannot see. So while the headline number—$7.2 billion—is striking, it measures total value that moved, not a controlled test of technical superiority.
Regulatory noise and infrastructure choices There’s also a regulatory dimension that doesn’t show up in migration announcements. In Washington, the last-minute maneuvering around landmark crypto legislation, as covered in a recent report on the Senate bill campaign, is forcing protocols to think about compliance design ahead of hard mandates. A cross-chain infrastructure that already integrates monitoring, rate limiting, and decentralized validation aligns more neatly with a future where regulators demand real-time visibility into asset flows. That doesn’t prove causation in the migration wave, but it provides the backdrop against which decisions are being made.
What comes next will test whether this clustering effect accelerates. If more mid-tier protocols follow Mantle, the network effect could tip further. If a major lending protocol or stablecoin issuer migrates, the conversation shifts entirely. For now, the interoperability map of DeFi has a new gravity well, and it is sitting squarely inside Chainlink’s orbit.
AUTHOR
Max delves deep into the cryptocurrency realm, with a passion for altcoins and NFTs. Convinced of crypto's transformative potential, he envisions a decentralized financial future. Max's background in the financial sector grants him unique insights into global monetary systems. In his leisure, Max embraces the thrill of adventures and is an avid sports enthusiast, finding balance and rejuvenation away from work.
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.
Choosing between ZetaChain and LayerZero is not simply a choice between two interoperability products. It is a decision about where your application executes and where its canonical state lives. It also determines how much distributed infrastructure your team must operate. In a ZetaChain vs LayerZero evaluation, start with the application architecture you need, not a feature checklist.
Start Building on ZetaChain and test whether a Universal App can simplify your most demanding workflow.
The short version: ZetaChain lets developers build Universal Apps whose core logic and state can live on ZetaChain while interacting with connected networks. LayerZero provides a messaging protocol that applications use to send information between deployments. One model centers the application on a programmable Layer 1; the other connects application components that developers deploy elsewhere.
This guide focuses on that architectural decision. It gives technical teams a practical framework for comparing implementation scope, user experience, operations, and security assumptions before committing engineering time.
ZetaChain vs LayerZero at a glanceIn brief: ZetaChain provides a Layer 1 environment where a Universal App can coordinate logic and canonical state. LayerZero provides messaging infrastructure for communication between application deployments. The right fit depends on whether your product benefits more from consolidated execution or locally deployed components.
Decision areaZetaChainLayerZeroPrimary modelUniversal Apps execute on ZetaChain and can interact with connected networksMessaging protocol connects application deployments and endpointsCore application logicCan be consolidated in a Universal App contractTypically remains in contracts deployed on destination networksCanonical stateCan be maintained on ZetaChainApplication teams determine how state is distributed and synchronizedDeployment surfaceOne central application deployment can serve interactions across supported networksApplication components generally need deployment and configuration wherever messages are receivedBest starting questionCan one application coordinate this workflow?How should existing deployments exchange messages?
The table is a starting point, not a verdict. Both approaches can support sophisticated applications. The meaningful difference is what your team must build around the interoperability layer. That difference affects contract count, upgrade coordination, observability, incident response, and the number of state boundaries engineers must understand.
How do the execution models differ?ZetaChain centers execution in a Universal AppA Universal App is a smart contract deployed on ZetaChain that can coordinate interactions involving connected networks. Instead of treating interoperability as a message sent between several copies of an application, developers can place the workflow's logic and state in one application. ZetaChain's connectivity layer and protocol components handle the interaction path.
This model can be useful when an application needs one source of truth for balances, permissions, positions, or workflow status. A developer can reason about the core state transition in one contract environment, then define how the app handles inbound calls and outbound actions. Consolidation can also make it easier to test invariants because the most important business rules live in one contract system.
ZetaChain supports native Bitcoin programmability. That matters for teams whose product needs to incorporate Bitcoin without requiring users to move through a wrapped-asset workflow first. Review the ZetaChain developer documentation for current supported networks, contract patterns, and implementation details.
LayerZero centers communication between application endpointsLayerZero is a messaging protocol. An application uses endpoints and configured pathways to communicate between contracts on different networks. The application developer decides what message is sent, how receiving contracts process it, and how the wider application maintains consistent behavior.
That model can fit a team that already operates deployments on several networks and wants those deployments to exchange information. It preserves local execution environments, but it also leaves the application team responsible for the contracts, configuration, monitoring, and state model that surround each endpoint.
The practical distinction is straightforward: messaging connects components; a Universal App can consolidate the application that coordinates them. Neither model removes the need for careful contract design, but each puts that responsibility in a different place.
Start Building with the Universal Apps documentation to compare these execution patterns against your application's hardest workflow.
Where should canonical state live?Canonical state is the authoritative record that resolves conflicting observations. For a lending product, it may be a user's debt position. For a game, it may be item ownership. For an order system, it may be the current fulfillment state. Before selecting infrastructure, teams should identify each authoritative record and decide which execution environment can change it.
A Universal App can keep the central state machine on ZetaChain. Connected-network interactions become inputs to or outputs from that state machine. This structure can reduce synchronization logic and make rules easier to audit. It can also simplify product analytics because teams have one coordinating application to observe.
A messaging design can leave state within application deployments. That gives teams control over local execution and integrations, but requires an explicit policy for ordering messages, rejecting duplicates, resolving partial completion, and reconciling state after failures. Those requirements are manageable when designed deliberately. They become dangerous when treated as edge cases after launch.
Draw the state machine before writing integration code. Mark every state transition, authorized caller, retry path, timeout, and recovery action. The resulting diagram will often reveal which architecture best fits the product.
How to choose the right architecture for your appMap the canonical state. Write down the state that must remain authoritative, such as a lending position, account permission, game inventory, or order status. If one source of truth would simplify the product, a Universal App deserves close consideration. If each deployment must remain locally authoritative, a messaging model may fit better.
Count the contracts you must deploy and maintain. Include application contracts, receiver logic, configuration, permissions, and upgrade paths. Do not compare only the first proof of concept. Compare the production system your team must operate after adding the next three networks.
Trace the user's full transaction journey. Note every wallet switch, approval, fee asset, waiting period, and recovery step. The architecture is only successful if users can complete the intended action reliably.
Define failure behavior. Decide what happens when an inbound call cannot execute, an outbound action fails, liquidity is unavailable, or an application contract is paused. Design retries, refunds, and idempotency before launch.
Review security and governance assumptions. Document validators, message verification, application permissions, administrative controls, upgradeable proxy patterns, and emergency procedures. Avoid treating any contract or transaction as universally immutable or irreversible.
Prototype the hardest workflow. Build the path with the most state, assets, and failure cases. A simple token transfer rarely exposes the operational tradeoffs that determine long-term engineering cost.
Review the Universal Apps documentation while mapping your proof of concept, including current contract patterns and supported connections.
Developer experience and operational tradeoffsArchitecture changes the work that happens after the demo. A distributed application surface can require repeated deployments, configuration management, monitoring, incident response, and upgrades. Every additional receiver and permission creates another place where configuration drift or an incomplete release can cause problems.
A Universal App can reduce that surface by consolidating core logic and state on ZetaChain. This does not eliminate operational work. Developers still need robust contract tests, observability, access controls, and explicit handling for inbound and outbound failures. It does change the unit being operated: one coordinating application rather than several application instances that must stay aligned.
Teams should compare both approaches using the same production checklist:
How many contracts, endpoints, and administrative roles will exist?
Where does canonical state live, and how is conflicting state prevented?
What must be monitored for every supported network?
How are failed operations retried, refunded, or reconciled?
How will upgrades be tested and rolled out?
What does the user need in their wallet to complete an action?
Operational cost also includes cognitive load. An on-call engineer needs to identify whether a problem originated in application logic, endpoint configuration, message verification, connected-network conditions, or a downstream integration. Fewer moving parts can shorten diagnosis, while local deployments can offer useful isolation. Measure these tradeoffs using realistic incidents, not only successful test transactions.
ZetaChain's introduction to Universal Apps explains the application model in more detail. Teams evaluating interoperability design can also review ZetaChain's approach to interoperability.
What should developers compare in the security model?Security comparisons should identify assumptions and failure domains, not declare an abstract winner. Begin by diagramming every component that can authorize, verify, relay, execute, pause, or upgrade an operation. Then ask what happens if each component is unavailable, misconfigured, or compromised.
For a messaging-based application, review the verification configuration, endpoint contracts, receiving logic, owner permissions, and every deployed application's controls. For a Universal App, review ZetaChain's validator and connectivity architecture, the Universal App contract, protocol contracts it calls, and its administrative controls.
In either design, the application remains responsible for secure business logic. Validate message or call origins, constrain permissions, protect replay-sensitive operations, use idempotent processing where appropriate, and test adversarial failure cases. If contracts use upgradeable proxy patterns, document who can upgrade them and how those powers are governed. If a workflow handles valuable assets, commission an independent audit and prepare an incident response plan.
A useful threat-model workshop assigns an owner to every failure domain and records the intended response. Include unavailable validators, delayed observations, incorrect configuration, compromised administrative keys, failed outbound execution, and unexpected connected-network reorganization. The exercise turns a broad security comparison into testable engineering requirements.
Which model fits common application scenarios?Consider ZetaChain when one application should coordinate the experienceA product needs one state model while accepting users or assets from supported networks.
The workflow includes native Bitcoin programmability.
The team wants to minimize repeated application deployments and synchronization logic.
The user experience should abstract network-specific complexity behind one application.
Consider a messaging model when existing deployments need to communicateThe product already has important local deployments and state.
Each deployment must preserve network-specific execution or integrations.
The team is prepared to operate and secure receiver contracts and configurations across its supported environments.
The application mainly needs to transmit instructions or state updates between those deployments.
Some systems can combine architectural patterns. If you consider a hybrid, define one canonical state model and make every ownership boundary explicit. Adding mechanisms without a clear reason usually increases the failure surface. A hybrid should solve a specific product constraint, not act as a substitute for choosing where critical logic belongs.
A practical proof-of-concept planBefore choosing, run a short, evidence-based evaluation. Select one user journey that touches the most difficult requirements. Implement it with realistic permissions and failure handling, then measure what your team will actually maintain.
Specify the user action, authoritative state transition, and expected final state.
List every contract and configuration required for the production version.
Implement origin validation, replay protection, retries, and refunds where applicable.
Simulate delayed delivery, failed execution, unavailable infrastructure, and a paused contract.
Record deployment steps, monitoring requirements, and upgrade procedures.
Compare user steps, engineering effort, and operational surface against your product priorities.
Score each prototype on deployment count, lines of application-specific integration code, user steps, test coverage, failure recovery, monitoring effort, and upgrade coordination. Include qualitative feedback from the engineers who build and operate the prototypes. The best architecture is the one that makes the product's hardest requirements easier to satisfy without creating unacceptable assumptions elsewhere.
This exercise produces a much stronger decision than comparing marketing terminology. It also gives the team an initial threat model and operating runbook.
Frequently asked questionsIs ZetaChain a bridge?ZetaChain is a Layer 1 blockchain designed for Universal Apps. Its model lets an application execute and maintain state on ZetaChain while interacting with connected networks. That is broader than a bridge whose primary purpose is moving assets between environments.
Is LayerZero a blockchain?LayerZero is a messaging protocol rather than a Layer 1 application-execution blockchain. Developers use its endpoints and messaging pathways to connect application contracts deployed in different environments.
Does ZetaChain replace every application deployment?Not necessarily. A Universal App can consolidate core logic, but the right design depends on required integrations, supported networks, local execution needs, and product constraints. Prototype the hardest workflow and verify current support in the documentation.
What is the biggest ZetaChain vs LayerZero difference?The central difference is execution architecture. ZetaChain supports applications that can centralize logic and state on its Layer 1, while LayerZero supplies messaging that connects application components deployed elsewhere.
Start with the architecture, then test the workflowThe right comparison is not which platform has the longest feature list. It is which execution model matches your application's state, user journey, and operational capacity. If a single coordinating application can simplify the product, build a Universal App proof of concept and test its hardest path.
Start Building with the ZetaChain documentation, then validate supported networks, contract patterns, and production requirements against your design.
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.
Five years in the making, Autheo is launching its decentralized operating system on Mainnet — after public testnet adoption surpassed 1.8 million wallets, nearly 1 million smart contracts, and 8.8 million transactions.
Autheo today formally introduced its decentralized operating system to the public: a coordination layer designed to let the traditional Web, blockchain networks, and AI agents interoperate natively as a single system. The company is now launching its Mainnet — the production environment for the network — after more than a year of public testnet activity.
The Coordination Layer The Internet Never Had The networking wars of the 1980s and early 1990s settled a principle that has shaped the Internet ever since: interoperability comes from pragmatic, openly deployed protocols, not top-down frameworks. The standards that won — TCP/IP, DNS, HTTP, TLS — succeeded by being practical and deployable, and the modern Internet still rests on them. The blockchain era took a different path: each network optimized for its own internal consistency — its own security model, consensus mechanism, APIs, SDKs, and developer tooling — and the result has been a fragmented landscape of largely siloed chains. The rapid rise of AI agents now amplifies that fragmentation, as a growing population of autonomous actors needs to transact across Web, blockchain, and AI systems that were never designed to coordinate with one another.
Protocols such as IBC, LayerZero, CCIP, Wormhole, and Axelar have made meaningful progress on chain-to-chain messaging and asset transfer — but those efforts operate at the bridging layer. Autheo addresses the problem from a different angle: a shared substrate where Web services, blockchain networks, and AI agents coordinate natively on a common identity, communications, execution, and infrastructure layer, rather than relying on bridges that pass messages between otherwise disconnected systems.
At the same time, approximately three-quarters of business applications today are delivered as SaaS, and identity, storage, compute, payments, and messaging already run as distributed services across the Web. The Internet, in other words, has quietly taken on many of the functions of an operating system. What it has lacked is the layer that lets those services — together with blockchain networks and AI agents — interoperate by default, rather than through one-off, brittle integrations built per partner, per protocol, and per chain.
Autheo’s purpose is to provide that coordination and execution layer. The Autheo OS exposes the standard functions one would expect of an operating system—identity, scheduling, messaging, state, compute, storage, and execution—as open, programmable services that any application, protocol, or agent can call. The objective is an integration substrate on which Web2 systems, Web3 protocols, and AI agents can transact and collaborate without needing to know which environment the counterparty is in. For autonomous AI agents specifically, Autheo is built around an on-chain, quantum-resistant trust and identity layer — designed so agents can hold credentials, sign transactions, and invoke services without depending on external systems or exposing private keys. The two design imperatives behind the project are simple: integration and interoperability.
“We didn’t set out to build just another network,” said Scott Bayless, Managing Director and co-founder of Autheo. “We set out to find the right relation between the ones we already have. A body has many parts. A city is many trades. The Internet today is many systems — each doing its work, none of them moving as one. With Mainnet now live, Autheo is the layer where the web, the chain, and the agent can finally work together.”
Founded By Long-Time Collaborators Autheo was founded in July 2021 by Todd Mortenson and Scott Bayless, long-time collaborators who have built and operated multiple ventures together over the past two decades.
The founders shared a simple thesis: the next phase of the Internet will be defined less by any single technology — and more by the coordination layer that enables the traditional Web, blockchain networks, and AI to operate as a single system. Much of what ultimately matters in technology tends to begin far from the loudest places — quietly, slowly, by those who would not have been the obvious choices.
Guided by that vision, the founders and engineering leadership spent the project’s first several years researching networks, ecosystems, protocol design, digital identity, post-quantum security, and decentralized coordination before building Autheo from the ground up around four distinct architectural foundations: TheoID — Autheo’s W3C-compliant Decentralized Identifier (DID) implementation — as the native identity primitive for users, services, and AI agents; PQCNet, Autheo’s post-quantum communications and identity framework, built upon NIST-standardized post-quantum cryptography, including ML-KEM (FIPS 203), ML-DSA (FIPS 204), and SLH-DSA (FIPS 205); a sovereign Cosmos SDK Layer 0 with native IBC interoperability; and an integrated EVM-compatible Layer 1 execution environment, operating as a Proof-of-Stake network with delegated staking and licensed validator eligibility, secured by CometBFT block finality (“Proof of Autheo”).
Solidity smart contracts can be deployed natively on Autheo or migrated from existing EVM-compatible chains, providing developers with a familiar development environment while benefiting from native IBC interoperability across the broader blockchain ecosystem.
The research and development underlying the platform has also resulted in an expanding portfolio of patent families covering core architectural innovations, reflecting the team’s long-term intellectual property strategy surrounding decentralized operating systems, digital identity, interoperability, post-quantum security, and related technologies.
Network engineering and Autheo’s post-quantum security architecture are led by Chief Engineering Officer Kenneth Harper, who has overseen the design, architecture, and implementation of the platform through public testnet and into Mainnet launch. Supporting those efforts is a multidisciplinary organization spanning engineering, product, project management, quality assurance, infrastructure, operations, ecosystem development, developer support, business development, partnerships, marketing, global channels, finance, legal, compliance, and intellectual property. Autheo’s broader contributor base spans approximately 100 people across 25 countries — blockchain pioneers, Fortune 500 operators, and researchers from institutions including MIT, Harvard, Stanford, and Caltech. Independent security audits have been completed by Halborn (testnet) and CertiK (Mainnet).
Autheo collaborates with leading infrastructure, security, and ecosystem partners — including Zeeve, InfStones, Hydrex, Halborn, CertiK, TrustSwap, Team.Finance, Utila, Ape Bond, Antier, EVU, among others — across validator and node operations, security audits, custody, token services, and ecosystem development.
Testnet Adoption Has Compounded Autheo’s public testnet went live in 2025 and, over its first twelve months, attracted approximately 350,000 wallets and 60,000 smart contracts as developers stress-tested the network. Following the May 12, 2026, announcement of Mainnet Phase 1, adoption accelerated. In the roughly 45 days since, cumulative wallet addresses have grown more than 5x and smart contracts have grown more than 15x. As of today, cumulative testnet totals stand at:
1,812,088 wallet addresses 968,502 smart contracts (Figures per Autheo network data, June 24, 2026. Independently verifiable on the public testnet explorer: testnet-explorer.autheo.com · verified contracts.)
Daily activity over the past month has averaged approximately 30,000 new wallet addresses and 20,000 new smart contracts. The Autheo testnet is now onboarding more wallets and deploying more contracts in a single day than it did across full months of its first year. Contract density at this stage is unusual for a Layer-1 testnet and reflects the breadth of developer use cases the team has supported across the build-out.
“Mainnet is live,” said Todd Mortenson, Managing Director and co-founder of Autheo. “The industry will be racing to retrofit post-quantum security ahead of NIST’s timeline — our developers won’t have to. We built PQC in from the ground up. One interface for Web services, on-chain protocols, and AI agents. One million human developers on-chain within three years. And the AI agents building alongside them? Orders of magnitude more. The coordination layer for that future is live today.”
What’s Next With the testnet validating the architecture and the Mainnet now launching, Autheo’s near-term focus is on expanding partnerships across the Web2, Web3, and AI communities and supporting builders deploying applications, agents, and protocols on the platform.
Developer Access (Mainnet, Live Today):
Docs: docs.autheo.com Mainnet block explorer: evm-explorer.autheo.com Chain ID: 2127 (0x84f) Public RPC endpoints: rpc1.autheo.com · rpc2.autheo.com · rpc3.autheo.com API documentation: evm-explorer.autheo.com/api-docs GitHub: Public open-source release is in progress; commercial components remain in compartmentalized private repositories. Testnet explorer (with verified-contract source): testnet-explorer.autheo.com
For developers seeking an early path into the Mainnet ecosystem, the Core Node and Prime Node tiers remain available at commerce.autheo.com (settlement via ETH on Arbitrum). These programs provide eligibility for long-term THEO token emissions, enabling developers to begin accumulating THEO for building, deploying, and participating in the network as the ecosystem expands. The Sovereign Validator Node program (399 nodes total) has its first 275 slots fully subscribed; the remaining 124 are reserved for enterprise partners and ecosystem customers. A dedicated builder portal at autheolabs.com is anticipated to launch, providing additional THEO token and validator allocations for projects deploying on the network.
THEO is anticipated to become available on Hydrex.fi in early July 2026, with additional exchange access expected to follow.
Additional documentation ecosystem, security, infrastructure, and listing announcements are expected over the coming weeks.
About Autheo Autheo is building the Internet operating system — a decentralized coordination and execution layer that enables the traditional Web, blockchain networks, and AI agents to interoperate as a single system. The platform utilizes W3C Decentralized Identifiers (DIDs) as its native identity framework and is anchored by PQCNet, Autheo’s quantum-resistant communications and identity infrastructure built upon NIST-standardized post-quantum cryptography, including ML-KEM (FIPS 203), ML-DSA (FIPS 204), and SLH-DSA (FIPS 205). Operating alongside Autheo’s sovereign Cosmos-based Layer 0 and EVM-compatible Layer 1, PQCNet is designed to provide next-generation security for digital identity, communications, authentication, encryption, and trusted interactions across Web, blockchain, and AI ecosystems.
Autheo integrates a sovereign Cosmos SDK Layer 0 with native IBC interoperability and an EVM-compatible Layer 1 execution environment, allowing developers to deploy Solidity smart contracts natively or migrate existing applications from other EVM-compatible networks. Founded in July 2021 by Scott Bayless and Todd Mortenson, Autheo opened its public Testnet in 2025 and launched Mainnet in 2026.
For more information, visit autheo.com and follow Autheo on X at @Autheo_Network. Find the Media Kit at mediakit.autheo.com
Predict.fun’s first World Cup knockout match: Canada vs South Africa, with Canada holding a 58% win probability.
Data from prediction market platform Predict.fun indicates that the first knockout match of the 2026 Canada-Mexico-USA World Cup’s 32-team knockout stage is approaching. The clash between Canada and South Africa will kick off at 3 a.m. Beijing time today. Current predicted win probabilities stand at 58% for Canada (CAN), 16% for South Africa (RSA), and a 27% chance of a draw. The data shows that the market has given higher support to the Canadian national team’s overall strength ahead of the match.
5 hours ago
Predict.fun Launches World Cup 32-Team Knockout Stage Event, Remaining Prize Pool Exceeds $1.1 Million
According to an official announcement from Predict.fun, the knockout stage of the World Cup’s 32-team tournament has officially launched, with the platform simultaneously upgrading its Predict Cup event mechanism. For this knockout round, Predict.fun will open 11 prediction markets per match and boost Fan Points rewards. The official added that the ongoing event still has a prize pool of over $1.1 million up for grabs, with rewards disbursed immediately after each knockout match’s conclusion. Notably, the Canada vs. South Africa match is set to kick off in under 3 hours, with a direct $25,000 reward allocated for this fixture, giving users more frequent chances to participate and win. Predict.fun stated that as the knockout stage commences, the platform will incentivize users to actively join World Cup prediction markets and compete for subsequent prize pool rewards via more markets, higher point rewards, and a more frequent reward distribution system.
5 hours ago
Predict.fun World Cup Group Stage $840,000 Event Rewards Now Available for Claiming
According to official announcements from Predict.fun, rewards for the World Cup group stage event are now available for collection, with the current prize pool totaling $840,000. The platform noted that users who participated and secured rewards during the group stage can now claim them via the platform. With the conclusion of the 32-team group stage, the number of World Cup-related markets on Predict.fun has risen from the initial 6 to 11, providing more trading and points-chasing opportunities for new participants. For the upcoming knockout stage, the platform will release over $1 million in additional event rewards, giving users ongoing opportunities to compete for leaderboard positions and split the subsequent prize pool.
5 hours ago
South Korean investors' borrowings for stock trading hit an all-time high, with record leverage exacerbating volatility in South Korean equities.
South Korean investors’ margin lending for stock trading hits an all-time high: South Korea’s margin loans have reached a record of approximately $26 billion, doubling since the start of 2025. However, when measured as a share of South Korea’s free-float market capitalization, margin lending currently makes up only around 0.8% — the lowest level since the 2020 pandemic low. This is because the sharp rise in South Korea’s total stock market capitalization has far outpaced the growth of leverage. Meanwhile, during the recent market correction, the daily forced liquidation ratio surged to 4-5% of total outstanding margin loans, far exceeding the normal level of roughly 1%. This means that leveraged investors unable to meet margin call requirements are forcing brokers to liquidate 4-5% of all margin positions in a single day. Record leverage is exacerbating volatility in the South Korean market.
5 hours ago
Hyper Foundation to Distribute $10 Million in Grants Amid Phased Exit of USDH Stablecoin
The Hyper Foundation announced it will provide approximately $10 million in grants to help developers affected by the phased shutdown of USDH offset migration costs. The grants are divided into two categories: migration grants for teams that have integrated USDH and are migrating related markets or deployments to USDC; and wind-down grants for teams that choose to terminate USDH-related operations instead of migrating, with amounts lower than equivalent migration grants. Grants for HIP-1 and HIP-3 are calculated based on auction deployment costs, while HyperEVM grants are determined by the amount of affected USDH locked. All grant recipients must commit to completing an orderly migration or wind-down by the end of July. Users can directly swap USDH for USDC on the HyperCore spot order book, or exchange it for free at a 1:1 ratio via the Across Protocol on HyperEVM. The Hyper Foundation thanked all developers who built real markets on USDH, users who supported USDH's growth, and Native Markets for its pioneering work in launching the protocol's native stablecoin. Thanks to the active collaboration of the team and community, the migration process is currently proceeding smoothly and orderly.
5 hours ago
Samson Mow asserts that Bitcoin has reached its bottom, as analysts’ views on the market outlook have grown increasingly divergent.
Jan3 CEO Samson Mow today asserted that Bitcoin has reached its bottom. His core argument is that Bitcoin hit its then all-time high 37 days before the April 2024 halving, an anomaly indicating the traditional four-year halving cycle has accelerated, rendering historically reliable timing patterns no longer applicable. “Even if you believe in the cycle, you should conclude that it has accelerated.” However, the market is far from reaching a consensus: Markus Thielen, founder of 10x Research, believes the bottom is more likely at $55,000, with a time window between August and October; BitMex co-founder Arthur Hayes is more bearish, predicting Bitcoin will hit roughly $40,000 within six months; senior analyst James Van Straten notes that Bitcoin is currently testing its 200-week moving average, with on-chain data suggesting the $50,000–$54,000 range could be the next key battleground. Since 2011, every major Bitcoin bear market has only confirmed its cycle bottom after falling below its realized price, and this signal has not yet emerged in the current cycle.
PANews June 28 news, the EVM cross-chain bridge project Etherlink issued a security notice stating that the system recently experienced a security attack attempt. To ensure the safety of user assets, the team immediately suspended all cross-chain transfer functions and is conducting a comprehensive investigation and risk assessment of the incident, confirming that no user funds have been lost so far.
Etherlink stated that it is working closely with LayerZero, Asymmetric Research, and Zeeve to ensure that the attack risk is completely mitigated before restoring service, but has not yet announced a recovery timeline and said it will update progress as soon as possible.
PANews June 27 news, on-chain sleuth ZachXBT stated in his personal channel that one hour ago, the stolen funds from the Humanity Protocol and Kelp DAO exploits showed signs of commingling, indicating that the attackers behind the two incidents may overlap. ZachXBT believes the above new evidence rules out the possibility that insiders were behind the exploits.
On April 18, 2026, due to an infrastructure compromise, Kelp DAO’s LayerZero bridge was hacked, resulting in a loss of approximately $292 million, allegedly by the Lazarus Group. On June 9, 2026, approximately $32 million was stolen from accounts belonging to the Humanity Protocol team and deployers, caused by a developer’s device being compromised.
Viewpoint: If AI sales grow strongly, the return on capital expenditure for AI operators is expected to turn positive within 24 months.
Renowned researcher Oguz Erkan’s data analysis indicates that based on current capital costs, operating margins of hyperscale cloud service providers, and depreciation periods, the return on investment (ROI) for AI capital expenditure will turn positive when AI revenue reaches roughly 1.7 to 1.8 times depreciation and amortization. Currently, AI revenue is approximately 1.2 times capital expenditure depreciation. Erkan projects that if AI sales grow robustly, the ROI is expected to turn positive within 24 months.
33 minutes ago
Michael Saylor: Strategy is operational
Michael Saylor issued a statement noting that Bitcoin is operating normally, and so are we (Strategy).
33 minutes ago
A renowned Chinese hedge fund manager has warned that global AI stocks have formed a "super bubble".
Two renowned Chinese hedge fund managers have warned that global AI stocks have formed a "super bubble" and are on the verge of bursting. Yang Dong, founder of Ningquan Asset, explicitly warned in the "2026 Semi-Annual Investment Report" released on June 23 that a "super bubble" has formed in global AI stocks, and a crash may be imminent. The report bluntly stated that a large number of hot A-share stocks are very likely to drop by 80% or even over 90% in the future, adding that "if one lacks the ability to pull chestnuts out of the fire and emerge unscathed, taking such risks would be irresponsible to investors." Yang Dong accurately predicted the peak of the 2007 bull market. Separately, Li Bei, founder of Shanghai-based Banxia Investment, noted in her June 21 monthly report "To Banxia Investors" that "the triggering conditions for the AI bubble to burst have emerged." Taking Anthropic's ARR (Annualized Run Rate) as an example, she argued that revenue growth at downstream model companies has slowed significantly, their full-year results are likely to fall well short of market expectations, and a subsequent decline in capital expenditure is highly probable.
33 minutes ago
An address linked to Vitalik has transferred 7,000 ETH, and is likely to deposit the funds into a centralized exchange (CEX).
According to monitoring by Onchain Lens, a wallet linked to Vitalik, labeled "0xD04", transferred 7,000 ETH (valued at $11.06 million) to a new wallet. Based on the address’s historical transaction records, the ETH is highly likely to be deposited into a centralized exchange (CEX). Earlier, the same wallet transferred 1,300 ETH (worth $31.6 million), which was subsequently deposited into Paxos. The wallet currently holds 20,001 ETH, valued at $31.6 million.
33 minutes ago
Hong Kong government: Regulated stablecoins are expected to launch between mid-year and the second half of this year.
Hong Kong’s government stated in a written response to the Legislative Council that the Hong Kong Monetary Authority (HKMA) granted stablecoin issuer licenses to two bank-backed institutions in April 2026. Per the institutions’ existing business plans, Hong Kong’s regulated stablecoins are projected to launch between mid-year and the second half of this year. The government added that the HKMA has sent notices to unregulated entities conducting stablecoin issuance in the market to clarify legal requirements, and will continue to follow up on related matters; individual cases may be referred to the police or the Department of Justice if necessary. Additionally, the government will submit a bill to the Legislative Council this year to establish a regulatory regime for virtual asset trading, custody, advisory and management service providers.
33 minutes ago
The Israeli military will reduce its forces stationed in southern Lebanon.
According to Israel's Army Radio, the Israeli military will reduce its forces stationed in southern Lebanon and withdraw several combat brigades.
PANews June 25 news, according to The Block, Tether's cross-chain stablecoin solution USDT0 has surpassed $100 billion in cumulative on-chain transaction volume, with current circulation around $4.1 billion. USDT0 is built by Everdawn Labs based on LayerZero's Omnichain Fungible Token standard, pegged 1:1 to USDT, natively integrated on 23 chains including Arbitrum, Polygon, and Plasma, and connected to other networks via Legacy Mesh. USDT0 is the third-largest USDT holder after Binance and OKX, with average single transaction size exceeding $110,000. The project team says it has been profitable since its first quarter of establishment, with a focus on providing cross-network infrastructure for stablecoins and the gold token XAUt0, and targeting future AI-dominated automated agent payment scenarios.
0x Protocol has opened its Cross-Chain API to general availability with 12 bridge providers live from day one, including Circle, LayerZero, Stargate and Across — accessible through a single API integration.
0x Protocol (a DEX aggregator API that has routed $180 billion in swap volume since 2017) opened its Cross-Chain API to general availability Wednesday. Twelve bridge providers are live from day one, accessible through a single API call.
The partner list includes Circle, Chainlink, USDT0, Relay Protocol, LayerZero, Optimism, Across Protocol, Mayan, Stargate Finance, NEAR Protocol, Gas.zip and Squid Router. The API delivers routes with a median bridge time of 10 seconds and a quote response under 750 milliseconds, per 0x’s product page. The company reports 99.97% uptime on the underlying infrastructure.
For developers, the pitch is consolidation. A wallet or app already on 0x's Swap API can activate cross-chain routing without adding vendors or writing bridge-specific error handling. 0x monitors routes in real time and switches providers when one degrades.
The Competitive FramingCross-chain swaps are a contested market. 1inch launched its Fusion+ cross-chain order-flow product in 2024. LayerZero, Wormhole and Across each run native bridging stacks with direct developer APIs. Those protocols generally require the developer to choose and maintain a specific bridge. 0x is positioning its API as the layer that removes that decision.
Across Protocol, which uses an optimistic oracle to underwrite fast bridge fills, processed more than $15 billion in bridge volume in 2025. LayerZero powers OFT-standard token transfers; Stargate is its primary consumer-facing application. Both protocols are now listed as partners in the 0x Cross-Chain API — meaning 0x is aggregating competitors rather than replacing them outright.
From Private Beta to GAThe Cross-Chain API entered private beta on February 25, 2026, with a subset of bridge partners. Wednesday’s announcement removes the invite gate and expands the partner set to 12. 0x has powered swap infrastructure for Coinbase Developer Platform, MetaMask, Phantom, Robinhood Wallet and Trust Wallet, according to the company’s blog. Cumulative swap volume has crossed $180 billion across 211 million transactions since 2017.
The company has not disclosed how many private beta customers went live with cross-chain routing, or what aggregate volume the beta produced. That data would be the clearest measure of whether the 12-partner launch converts into real transaction flow.
Token DisconnectZRX, the governance and fee token for 0x Protocol, trades at $0.0934, a market cap of roughly $79 million at rank #322, per CoinGecko. The token is down about 5% on the day and 96% from its January 2018 all-time high of $2.50.
The Cross-Chain API does not route fees on-chain through ZRX under 0x’s current model; the company charges integrators at the API level. That structure means the GA launch does not directly affect ZRX tokenomics, even as it expands 0x’s addressable developer market.
Circle partners with Nomura Securities to enter the Japanese yen foreign exchange settlement service market.
Stablecoin issuer Circle plans to collaborate with Nomura Securities to launch instant foreign currency settlement for Japanese corporate clients as early as 2027. The initiative will enable large cross-border transactions to be completed immediately, aiming to boost cross-border investment and trade. This will mark the first entry of a major stablecoin issuer into Japan’s corporate transaction market, allowing companies to convert yen into US dollar-denominated stablecoins for investment and instant transfers.
13 minutes ago
Institutions' Preview: Overview of US May Core PCE Price Index Monthly Rate
The US May core Personal Consumption Expenditures (PCE) Price Index monthly rate will be released tonight at 20:30 (UTC+8). Below are the forecasts from multiple institutions: Sumitomo Mitsui Banking Corporation: 0.2%; Royal Bank of Canada: 0.2%; JPMorgan Chase: 0.3%; Goldman Sachs Group: 0.3%; Bank of Montreal: 0.3%; Moody's Corporation: 0.3%; Standard Chartered: 0.3%; UniCredit: 0.3%; ING Group: 0.3%; HSBC Holdings: 0.3%; BNP Paribas: 0.4%; Wells Fargo: 0.4%; Capital Economics: 0.4%; Citigroup: 0.4%; Deutsche Bank: 0.4%; Nomura Securities: 0.4%; Pantheon Macroeconomics: 0.4%; Société Générale: 0.4%; Scotiabank: 0.4%; Morgan Stanley: 0.4%
13 minutes ago
DA Davidson Raises Micron’s Price Target to $2,000, Retains Buy Rating
U.S. investment bank DA Davidson released a research note stating that Micron Technology has entered a new phase with one of the best performance visibility in the semiconductor industry, a stark contrast to its past standing in the sector. Driven by another quarter of results that handily exceeded expectations and positive forward guidance, Micron’s stock price surged sharply. These signals indicate that the current memory chip boom cycle is far from over. While the company is ramping up capacity investments (with capital expenditure (CAPEX) projected to hit $10 billion in the fourth quarter of fiscal 2026, which will bring additional supply), management expects the memory market to remain tight on supply and demand at least through 2027. Against this backdrop, DA Davidson reiterated its "Buy" rating on Micron and raised its price target from $1,500 to $2,000, equivalent to a 20x price-to-earnings (P/E) ratio based on the company’s 2026 calendar year expected earnings per share (EPS).
13 minutes ago
Morgan Stanley raises Micron's price target to $1,200, maintains 'Overweight' rating.
Morgan Stanley released a report raising Micron Technology (MU.O)’s price target from $1,050 to $1,200, while maintaining an "Overweight" rating. The investment bank lifted its fiscal 2027 earnings per share (EPS) forecast for the chipmaker by roughly 40% to $168, and upgraded its free cash flow (FCF) projection from $104 billion to $140 billion. Aligning with Micron’s management, the bank holds that AI will push DRAM demand to consistently outpace supply significantly after 2027. Micron’s last fiscal quarter results matched this trend, with both its quarterly performance and outlook showing notable upside potential.
13 minutes ago
US officials: Israel has withdrawn troops from parts of the buffer zone in southern Lebanon.
A U.S. State Department official said Israel has withdrawn from parts of the buffer zone in southern Lebanon, describing the move as a "goodwill gesture" toward the Lebanese government.
13 minutes ago
CBRS trades below IPO price post-earnings: Erases all gains six weeks after listing, two smart money firms net $5.8 million from first-day IPO shorts.
According to Hyperinsight monitoring, Cerebras (CBRS), the AI chip firm previously dubbed "Nvidia’s strongest challenger", saw its stock price fall in stages after reporting its first quarterly results since going public, as negative guidance overshadowed better-than-expected performance. The stock has dropped roughly 22% since the earnings release and officially broke below its IPO price today. On-chain whales are overall bearish. CBRS trades at $184 on the Hyperliquid platform, down 7.7% in 24 hours. Large-scale short positions (million-dollar level) total around $11.62 million, 2.39 times the long positions ($4.87 million). Two major short positions were placed precisely at high levels as early as the IPO day or even before the IPO: - Whale 0xe0ff: Shorted at $284.51 on May 14 with a 3x leveraged position of $6.13 million, generating an unrealized profit of $3.24 million (+104%); - Whale 0x9996: Shorted at $275.92 on May 11 with a 5x leveraged position of $5.48 million, generating an unrealized profit of $2.64 million (+162%). It is learned that both addresses currently hold short positions in both CBRS and SPCX, and have recorded substantial unrealized profits, preferring to place short positions at high levels before or on the day of major stock listings. With the realization of negative earnings news in this round, the combined unrealized profit of the two positions is around $5.88 million. Currently, the average entry price of CBRS short whales is around $275, and the current price is over 30% lower than that. The nearest short liquidation line is at $200.13, about 7% away from the current price.
The KelpDAO exploit has rattled confidence in decentralized finance (DeFi) and sparked a capital exodus, dragging total value locked across the sector from $99.5 billion to $83.7 billion since April 18.
Aave is now spearheading a “DeFi United” effort, with support from major protocols, to restore the backing of rsETH, the liquid restaking token at the center of the crisis.
Stani Kulechov Pledges 5,000 ETH Personally as Aave’s DeFi United Takes ShapeOn April 18, attackers drained 116,500 rsETH, worth roughly $292 million, from KelpDAO’s cross-chain bridge. The stolen tokens were then deposited as collateral on Aave V3, where the hacker borrowed large volumes of Wrapped Ether (WETH) against them.
Because the rsETH became unbacked, the positions are effectively unliquidatable, leaving Aave with bad debt.
Follow us on X to get the latest news as it happens
Panic withdrawals followed. Aave’s total deposits dropped from $45.8 billion to $28.6 billion, marking a $17.2 billion decline. According to LayerZero, early data points to the Lazarus Group’s TraderTraitor as the likely party responsible for the biggest DeFi hack of 2026.
In an X post, Aave said several firm indicative commitments have been lined up from participants willing to help restore rsETH’s backing. Lido Finance has submitted a proposal to contribute up to 2,500 staked ether (stETH) to a dedicated relief vehicle.
Mantle Treasury followed with its own proposal to lend up to 30,000 ETH to Aave DAO. Aave founder Stani Kulechov personally committed 5,000 ETH.
“Aave is my life’s work and we’re working nonstop to find the best possible outcome for users. I’m personally contributing 5000 ETH to DeFi United as we continue working together with partners on formalizing more commitments. I’m working to see this resolved and market conditions normalized as soon as possible,” Kulechov wrote.
EtherFi Foundation proposed another 5,000 ETH, and Golem contributed 1,000 ETH. The initiative has also received support from Ethena, LayerZero, Tydro, the Ink Foundation, Frax Finance, and more.
Aave also paused rsETH reserves across Ethereum Core, Arbitrum, Base, Mantle, and Linea to support recovery.
Subscribe to our YouTube channel to watch leaders and journalists provide expert insights
