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Axelar has integrated Solana. The integration is now live on mainnet, enabling cross-chain message passing and asset transfers between Solana and Axelar-supported chains, including Ethereum, XRP Ledger, Sui, Stellar, Hedera, and 70+ more ecosystems.

Following recent integrations with Stellar and Hedera, Solana is the next major ecosystem connected to Axelar’s interoperability infrastructure. The integration expands Axelar’s support across different execution environments and gives developers, asset issuers, and protocols a secure and reliable way to connect Solana with the broader multichain world.

What the Integration EnablesSolana is one of the most vibrant blockchain ecosystems in Web3, with a growing application layer across DeFi, payments, tokenization, and consumer use cases. With Solana connected through Axelar, applications can combine Solana’s speed, low transaction costs, and active application ecosystem with Axelar’s interoperability infrastructure. The result is new optionality for applications that want to reach broader liquidity, expand user access across chains, and build multichain products that connect Solana with the wider ecosystems.

Ecosystem Partners Expanding to SolanaThe Solana integration launches with day-one ecosystem use cases that demonstrate how Axelar can help bring assets and applications into the Solana ecosystem.

Stronghold is a payments infrastructure platform that enables access to both legacy and next-generation financial services, with $SHx serving as its native utility token. Through Axelar's integration with Solana, Stronghold can now extend SHx reach to Solana and gain access to a broader ecosystem of users, builders, and liquidity opportunities beyond the Stellar ecosystem.

SaucerSwap is a leading decentralized exchange on Hedera, providing trading and liquidity infrastructure optimized for efficient execution and low fees. With Axelar connecting Solana, SaucerSwap can support assets from Solana and other connected blockchains and bring them into Hedera-based trading and liquidity pools. The integration also opens a new path for $SAUCE to extend beyond its native environment into the Solana ecosystem.

How to Access Solana Through AxelarSolana is now connected to Axelar and can be accessed through:

Axelar’s new bridging interface: Users can move assets to and from Solana directly through Axelar’s interface.Squid: Users and developers can access Solana through Squid, a cross-chain routing and liquidity layer built on Axelar that enables seamless asset transfers across ecosystems.Moreover, developers can now start building cross-chain applications with Solana: Send & receive messages across chains | Interchain Token Transfers | Full documentation

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PANews, June 20 — Cross-chain protocol Axelar Network issued a statement regarding a recent security incident, clarifying that there are misunderstandings within the community. The Axelar Network itself and the IBC protocol were not attacked or compromised, and the affected token smart contract was not developed, deployed, or maintained by Axelar Network. The exploited contract is a forked version based on the CW20-ICS20 implementation, but the developer removed two core security checks, resulting in an “infinite minting” vulnerability. By deleting the verification mechanisms originally designed to prevent such issues, the fork altered the contract’s original trust model and did not undergo a new security audit.

Axelar Network further explained that anyone can deploy contracts for cross-chain asset wrapping via IBC, and similar contracts are also used to wrap tokens from other chains onto Secret Network. This incident is not a unique logic flaw, nor is it a problem with the IBC protocol itself, but rather a security risk introduced by modifications to a third-party contract.

Hongji Feng

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Hongji Feng

Part of the Team Since

Oct 2023

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Hongji is a reporter who covers crypto, finance, and tech. He graduated from Northwestern University's Medill School of Journalism with a Bachelor's and a Master's. He has previously interned at HTX,...

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January 7, 2025

Hyperliquid highlighted key milestones in 2024, including reaching $15 billion in daily trading volume and expanding its user base ninefold to 300,000 users.

According to a post by Hyper Foundation, the decentralized exchange attributed its rapid growth and ecosystem expansion to updates such as the HyperBFT consensus, HIP token standards, and staking features.

Hyperliquid’s Exponential Growth in 2024Hyperliquid experienced growth in 2024, with its 24-hour all-time high (ATH) trading volume climbing from $1 billion to $15 billion.

This major increase in trading activity was accompanied by growth in other metrics, highlighting Hyperliquid’s expanding market presence.

Hyperliquid started 2024 as a barely-known perp dex and ended the year as one of the largest decentralized financial hubs, processing billions in volume per day with a thriving ecosystem of builders, traders, and community members.

Thank you to everyone who came together for a… pic.twitter.com/GgmlsiW4mg

— Hyperliquid (@HyperliquidX) January 7, 2025 Open interest rose from $178 million to $4.3 billion, while total value locked (TVL) climbed from $56 million to $2.1 billion.

Additionally, the exchange’s user base expanded from 31,000 to 300,000, marking a ninefold rise.

Hyperliquid also supported 158 perpetual trading pairs and 128 native spot assets, generating over $3.5 million in daily revenue from trading fees and spot auctions.

These achievements were underpinned by the introduction of staking mechanisms and native token standards, including HIP-1 and HIP-2, which streamlined token usage across its platform.

Ecosystem Expansion Through New Features in 2024Throughout 2024, Hyperliquid launched new features and integrations that strengthened its ecosystem.

Third-party platforms, including Synapse, deBridge, and DEX Screener, bolstered interoperability and trading tools within Hyperliquid’s ecosystem.

Projects launched on Hyperliquid during the year included applications like HypurrScan, which allows users to analyze blockchain data, and HypurrFun, a platform for trading and creating meme coins.

Community-driven initiatives, such as Hyperliquid KR and HyperActive, further contributed to regional expansion and outreach efforts.

“All of this was achieved without taking any external funding and giving all trading fees to the community,” Hyper Foundation stated in its post. “Thank you to everyone who came together for a record-breaking 2024.”

Binance to support aelf network upgrade, temporarily halting deposits and withdrawals on Jan. 15, 2025.

In anticipation of a network update, Binance has announced that it will temporarily suspend token deposits and withdrawals on the aelf (ELF) network on Jan. 15, 2025, at 17:00 (UTC+8).

The purpose of this planned update is to enhance the overall user experience on the ELF blockchain. The upgrade is scheduled to occur at block height 252,256,057, and the process is expected to commence at approximately 18:00 UTC+8 on the same day. Block height refers to the position of a specific block within the blockchain, and the network upgrade will occur once the blockchain reaches this point.

Users will still be able to trade ELF tokens normally on the Binance platform during the network upgrade. However, deposit and withdrawal services will be temporarily unavailable while the upgrade is in progress.

To avoid any potential interruptions, Binance strongly advises users to deposit their ELF tokens in advance. Once the upgrade is complete and the network is stable, deposits and withdrawals will resume automatically without further notice.

ELF is a decentralized blockchain for cloud computing that aims to provide a scalable ecosystem. Its primary goal is to create a flexible blockchain capable of supporting various industries and applications.

At the time of writing, ELF is priced at $0.5016 with a market valuation of $369.18 million. The token’s $28.57 million in trading volume demonstrates a 34.36% drop in the past 24 hours.

Token upgrades refer to modifications made to a blockchain network’s core protocol or structure to improve its usability, security, or overall functionality. In this case, it is expected that the ELF network upgrade is expected to boost both performance and scalability, which are essential for the continued growth and success of the ecosystem.

Throughout 2024, Binance has actively supported network upgrades for several prominent tokens. In April 2024, Binance supported the Ethereum (ETH) Shanghai upgrade, a critical step in ETH’s transition to a more scalable and sustainable network, which allowed staked ETH to be withdrawn.

Binance also supported the Dash network upgrade and hard fork, which took place on January 7, 2025. This upgrade aimed to enhance the network’s security and performance. Additionally, Binance has announced its support for the Optimism network update, scheduled for January 10, 2025, which focuses on improving scalability and efficiency within the Optimism ecosystem.

As part of its ongoing commitment to enhancing the blockchain ecosystem and providing users with the best possible experience, Binance is dedicated to ensuring smooth transitions during these upgrades.

For more information about the ELF token upgrade, please refer to the official project announcement.

Updated Sep 11, 2025, 7:36 a.m. Published Sep 10, 2025, 6:09 p.m.

2 min read

Summary

Ethereum experienced a rare slashing event on Wednesday, with 39 validators penalized, according to blockchain explorer Beaconcha.in.The validators were tied to the SSV Network, a distributed validator technology (DVT) protocol that decentralizes staking infrastructure by splitting validator keys across multiple operators.Despite the scale of the incident, SSV founder Alon Muroch emphasized that the protocol itself was not compromised. Instead, the penalties stemmed from operator-side infrastructure issues involving third-party staking providers using SSV.Ethereum experienced a rare slashing event on Wednesday, with 39 validators penalized, according to blockchain explorer Beaconcha.in.

The validators were tied to the SSV Network, a distributed validator technology (DVT) protocol that decentralizes staking infrastructure by splitting validator keys across multiple operators.

Despite the scale of the incident, SSV founder Alon Muroch emphasized that the protocol itself was not compromised. Instead, the penalties stemmed from operator-side infrastructure issues involving third-party staking providers using SSV.

One cluster of slashed validators was tied to Ankr, a liquid staking provider. According to Muroch, routine maintenance on Ankr’s systems triggered the event. A second slashing involved a validator cluster that had migrated from Allnodes two months earlier. Investigators believe a secondary validator setup caused the duplicate signing that led to penalties.

In total, 39 validators were slashed, making this one of the largest correlated slashing events since Ethereum’s transition to proof-of-stake. Each validator slashed faces an immediate ETH penalty and could face inactivity leaks, compounded losses. One validator, backed by a 2,020 ETH stake, lost around 0.3 ETH, or about $1,300 at today’s prices, in the process.

While slashing is built into Ethereum’s design as a deterrent against malicious or negligent behavior, it remains exceedingly rare. Fewer than 500 validators out of more than 1.2 million active have been slashed since the Beacon Chain went live in 2020. Most incidents, including this one, have been traced to operator issues rather than deliberate attacks.

Mass slashings are particularly notable because correlated misbehavior increases the severity of penalties. Ethereum’s protocol enforces additional inactivity leaks when groups of validators are slashed together, amplifying the financial impact.

For Ethereum’s staking ecosystem, the latest wave underscores a familiar but critical lesson: validator safety hinges as much on infrastructure and operator diligence as on the protocol itself. Even when the underlying software is uncompromised, operational errors can have costly and very public consequences.

Read more: ‘Keep It Simple’: Prevent Your Eth 2.0 From Being Slashed

AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.

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 SSV Network, the leading distributed validator technology (DVT) provider on Ethereum, securing over 5.5M ETH, is set to undergo the biggest comprehensive upgrade in its history. The SSV DAO has unveiled a potential path for SSV Staking, a major upgrade that would fundamentally redesign how the network accounts for validator balances and collects fees. If approved, the proposal would introduce SSV Staking delegation and Effective Balance Oracles, integral to the network, and turn the SSV token into an ETH accrual token, allowing SSV stakers to receive ETH rewards accrued from network fees.

At the center of the proposal is a move away from SSV-denominated protocol fees toward a fully ETH-native accounting and reward model that reflects the reality of Ethereum’s validator economy. Validator rewards are earned in ETH, operator costs are priced in ETH, and post-Pectra validator balances can now scale up to 2,048 ETH per validator. SSV Staking is designed to align the protocol — and its token — with that reality. 

Introducing Effective Balance Oracles for post-Pectra accounting In parallel, supporting SSV staking and Ethereum’s post-Pectra validator model requires effective balance–aware accounting. Effective Balance Accounting ensures that fees, runway calculations, and liquidation logic scale with the actual stake secured by validators, rather than relying on “per-validator” accounting that has changed with validator consolidation – allowing a single validator to have a balance of 2048 ETH. 

Implementing this model natively requires the protocol to reflect validator effective balances on-chain throughout their lifecycle. To bridge the gap between Ethereum’s consensus layer and on-chain accounting, the protocol introduces Effective Balance Oracles that track validator balances and update the protocol state. 

Operating this oracle layer securely and resiliently is a core protocol function. Under SSV Staking, SSV holders would stake and delegate their tokens to support the selection and operation of oracle participants, aligning economic incentives with protocol security.

From Governance token to ETH accrual asset Under the proposal, SSV holders would be able to stake their tokens in a new staking contract and receive cSSV, a liquid ERC-20 token minted 1:1 to represent a staked position. While holding cSSV, participants would accrue a pro-rata share of ETH-denominated network fees, distributed through the protocol in proportion to staking participation.

Elad Gafni, SSV Foundation, said:

“cSSV is designed to represent more than a staked position; it represents participation.” Adding that: “SSV Staking is a mechanism for SSV holders to help operate and secure a core protocol function through delegation. This is a fundamental shift in how value flows through the network.”

Crucially, holding cSSV preserves full governance and voting rights, while enabling composability across DeFi as a liquid representation of staked SSV.

A new relationship between Ethereum infrastructure and SSV token holders SSV Staking goes beyond introducing yield. It is a full redesign of the network’s economic engine, connecting validator balances, ETH-denominated fees, oracle-backed accounting, and token incentives into a single system.

If approved by the DAO, SSV Staking would mark a shift from SSV as a governance and operator payment token toward an ETH accrual token, tightly coupled to the usage of one of Ethereum’s largest staking infrastructure providers.

About SSV Network SSV Network provides a distributed infrastructure designed to improve the fault tolerance, decentralization, and security of Ethereum validators through Distributed Validator Technology (DVT). SSV Network is the leading provider on Ethereum, securing over 5.5M ETH, worth an estimated ~$16 billion, across nearly 2,000 globally distributed node operators. 

Press contact:

Robert Drage [email protected] Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this Press Release does not represent any investment advice. TheNewsCrypto recommends our readers to make decisions based on their own research. TheNewsCrypto is not accountable for any damage or loss related to content, products, or services stated in this Press Release.

Several states in the U.S. are already considering the idea of a strategic Bitcoin reserve as proponents await a push from Donald Trump on the federal level.

On the campaign trail for the November 2024 elections, now President-elect Donald Trump made several big promises to the crypto industry. Still, none has been as talked about following the election as his intention to launch a strategic U.S. Bitcoin reserve.

However, while pundits continue to debate the feasibility of such a move at the Federal level and its possible market impacts, some states may be looking to get in on the action.

U.S. States Consider the Orange Pill Following Donald Trump’s election victory, at least three U.S. states are considering building their own Bitcoin stockpile employing unique frameworks, as recently highlighted in a CNBC Crypto World report on Tuesday, December 24. Speaking with CNBC, Centrifuge General Counsel Eli Cohen asserted that the development was significantly positive for the crypto markets.

Pennsylvania  On November 12, barely a week after Trump’s announcement as the next U.S. president, Pennsylvania State Representative Mike Cabell proposed a bill to allow the state treasurer to invest state funds in Bitcoin.

House Bill 2664, or the Strategic Bitcoin Reserve Act, seeks to allow the treasurer to invest up to 10% of the State General Fund, the Rainy Day Fund, and the State Investment Fund in Bitcoin.

Cabell argues that implementing the bill would help protect state assets against inflation. He asserted that the state’s purchasing power had reduced by a staggering 20% in the past four years alone while Bitcoin continues to gain strength against the dollar.

So far, Pennsylvania’s Strategic Bitcoin Reserve Act has received only one co-sponsor, Representative Aaron Kaufer.

Texas On December 12, Texas State Representative Giovanni Capriglione proposed House Bill 1598, or the Texas Strategic Bitcoin Reserve Act, to allow the state to establish a Bitcoin reserve within its treasury.

Unlike Pennsylvania’s proposed bill allowing the treasurer to purchase Bitcoin with established state funds, the proposed Texas bill will establish the reserve by enabling residents to pay charges and taxes with Bitcoin. The stockpile will also be open to voluntary donations.

The Texas bill also details the establishment of cold storage and a holding period, noting that the state must not sell the reserve for at least five years.

Like Pennsylvania’s Cabell, Capriglione also argues that Bitcoin could act as an inflationary hedge preserving value for Texans.

On Tuesday, Centrifuge’s Eli Cohen told CNBC that Texas’ bill may face significant infrastructure hurdles and problems getting the crypto community to submit their wallet for taxes.

Ohio Ohio is the most recent to join the Bitcoin rush. On December 17, state Representative Derek Merrin submitted a proposal to allow the state to establish a Bitcoin stockpile.

House Bill 703, or Ohio’s Bitcoin Reserve Act, seeks to give the state treasurer the flexibility to invest in Bitcoin if they desire and build a reserve from seized assets.

Merrin hopes the bill will pave the way for quick legislation in 2025.

The recent state bills, like the proposed national effort, are all in their early stages, and it remains unclear if they can garner the needed support to become law. But till then, the ensuing speculation continues to drive excitement about Bitcoin and crypto.

DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

The partnership, which also includes crypto asset manager Anemoy, aims to streamline the issuance and management of tokenized assets across blockchains.

Centrifuge, a top real-world asset (RWA) tokenization platform, announced a partnership with blockchain interoperability protocol Wormhole to launch a multichain platform that aims to improve how tokenized assets are issued and managed, according to a press release shared with The Defiant.

The collaboration also includes Anemoy, a web3-native asset manager built on Centrifuge. The new platform, Centrifuge V3, lets asset managers and investors handle tokenized assets across different blockchains.

“Wormhole's multichain interoperability platform plays a crucial role in supporting the scalability of Centrifuge V3 by enabling full chain abstraction, allowing seamless fund administration and investment across any blockchain network,” Jeroen Offerijns, the CTO of Centrifuge, told The Defiant.

Offerijns added that by integrating Wormhole, Centrifuge ensures liquidity flows smoothly across different blockchains, while assets can be easily used within both decentralized finance (DeFi) protocols and traditional institutional platforms.

Centrifuge currently boasts a total value locked (TVL) of around $136.6 million and a market capitalization of $5.7 million at press time, according to DeFiLlama data — making it the 15th largest RWA protocol by TVL.

The company has raised a total of $27 million across five funding rounds, raising $15 million in its most recent round, led by ParaFi and Greenfield.

Tackling tokenization challengesA major obstacle to the growth of tokenized assets is the fragmented infrastructure, Offerijns explained. He noted that asset managers often face a mix of tools and vendors, with no standardization, unclear legal structures, and high smart contract risks.

“Managing compliance, fund operations, issuance, and investor servicing onchain is still a daunting challenge,” Offerijns explained. “On top of that, chain fragmentation forces investors to navigate multiple networks, wallets, and interfaces — which adds unnecessary friction and risk to their experience.”

To address these issues, Centrifuge V3 offers customizable tokenization rails using a modular stack of pre-built, audited, and tested smart contracts. “These contracts cover everything from compliance to asset management, issuance, and day-to-day operations,” Offerijns said. “Managers can launch tokenized products quickly and confidently, without needing to build or audit new infrastructure.”

Moreover, all fund data and accounting will be managed on a single chain, offering unified and transparent data, which Offerijns called crucial for institutional reporting and governance, adding:

“Centrifuge V3 also integrates with liquidity providers in the ecosystem to offer instant and near-instant liquidity for tokenized products — addressing another key institutional concern: the ability to exit positions when needed."Jeroen OfferijnsThe future of RWAsTokenized assets are rapidly emerging as one of the fastest-growing sectors in DeFi. According to RWA.xyz, the total onchain value of tokenized RWAs has reached over $20 billion, an 11% increase in just the past month. Additionally, the number of asset holders has grown by almost 6%, bringing the total to 95,455 at press time.

“As the industry matures, we’re seeing a shift from purely crypto-native collateral to tokenized RWAs like U.S. Treasuries, private credit, and real estate — assets that provide stability, yield, and diversification,” Offerijns said, noting that stablecoins are also increasingly backed by RWAs.

He explained that RWA aggregators now function as onchain savings accounts, and lending protocols are facilitating borrowing and lending against these tokenized assets. “But for RWAs to truly power DeFi at scale, they must be accessible, high-quality, and ubiquitous,” Offerijns emphasized.

While Centrifuge V3 is currently building infrastructure that aims to make tokenized RWAs more accessible today, the company’s long-term vision extends beyond just putting funds on-chain.

“We believe blockchain won’t just serve as a distribution layer, it will become the foundation for global capital markets,” Offerijns said. “It will unlock cross-border capital flows, broaden access to investment opportunities, and improve end-to-end processes through automation and operational efficiencies.”

Toronto, Canada, December 15th, 2025, Chainwire

New capability enables confidential, audit-ready asset transfers on a public permissioned blockchain.

Polymesh, the public permissioned blockchain purpose-built for regulated assets, today announced the launch of Confidential Assets on the Polymesh DevNet. This new capability introduces private, fully auditable settlement flows for real-world assets (RWAs), enabling institutions to conduct onchain activity without exposing sensitive positions, transaction sizes, or counterparty information.

The launch of Confidential Assets allows institutional participants to move RWA workflows onchain while keeping participant identities, balances, and transfer amounts confidential, with controlled visibility for auditors and regulators.

Confidential Assets are powered by P-DART, a protocol developed by Polymesh Labs in collaboration with researchers at the University of Edinburgh. The system encrypts key elements of a transaction – including identity, amounts, and asset identifiers – while maintaining verifiability and settlement finality. The approach allows issuers to appoint auditors who can decrypt activity when required for regulatory, legal, or operational reasons.

Institutions have historically faced a trade-off between staying in private, siloed environments to preserve confidentiality or operating on public chains that introduce transparency incompatible with market workflows. Confidential Assets are designed to remove this tension by combining privacy with enforcement and oversight on a public permissioned network.

Key Capabilities

Encrypted balances, amounts, and identities, preserving confidentiality for market participants. Designated auditor access, enabling regulated entities to view transaction details for reporting or dispute resolution. Non-interactive confidential transfers, supporting asynchronous workflows used in institutional settings. Issuer-led force transfer support, allowing corrections related to errors, legal actions, or key loss within appropriate frameworks. Multi-asset atomic settlement, enabling confidential multi-leg transactions to settle simultaneously. The DevNet release provides a dedicated environment for developers and market operators to test confidential settlement workflows ahead of future testnet and mainnet deployments without impacting broader network stability. The environment is suited for prototyping confidential OTC workflows, private asset issuance, fund operations, block trades, and other regulated market structures.

Confidential Assets are available now on the Polymesh DevNet for developers, custodians, tokenisation platforms, and market operators evaluating confidential settlement workflows ahead of future network rollouts. To access the DevNet, users can go to https://devnet-confidential.polymesh.dev/.

About Polymesh Labs

Polymesh Labs is dedicated to the growth of the Polymesh ecosystem through Polymesh and Polymesh Private. Polymesh is a leading public permissioned blockchain purpose-built for real-world assets that streamlines capital markets and opens the door to new financial products. Polymesh Private is a private permissioned instance of Polymesh that can be deployed by enterprises.

Users can visit polymesh.network to learn more.

Polymesh v7.4.0 is now live on Mainnet, introducing Account ID based asset balances to simplify settlement flows while preserving full identity driven compliance.

This release introduces an important, non breaking enhancement to the settlement model: Account IDs can now hold asset balances directly. It is the first step toward providing a more streamlined, account oriented experience, while preserving the identity and compliance framework that underpins Polymesh.

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This release represents a major step forward in the Polymesh evolution, bringing the intuitive balance model of traditional blockchains to regulated settlement while maintaining the compliance guarantees and regulatory controls that make Polymesh unique.

What's New: Account ID Asset BalancesHistorically, all Polymesh assets were held in Portfolios associated with Identities, DIDs. Portfolios remain a core concept and continue to be fully supported. While this model provides powerful organizational and compliance capabilities, it introduced an additional layer of abstraction that differed from traditional blockchain workflows.

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With v7.4.0, asset balances can now also be associated directly with an Account ID, a signing key public key address.

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Transactions that previously accepted a Portfolio have been updated to also accept an Account ID as an alternate input extending the capability of the existing settlement related transactions.

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This does not remove the role of identity. An Account ID must still be linked to an on chain identity. A key improvement is that new functions have been added that perform the Account ID to DID lookup internally during transfers. This reduces the need for off chain identity resolution and simplifies the transaction flow for developers and integrators.

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The result is a model that feels closer to traditional blockchains, where balances are typically stored at the key or account level, while still leveraging Polymesh’s settlement engine for compliance and regulatory enforcement.

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Simpler Account Based TransfersTo support Account ID balances, v7.4.0 introduces new Asset module transactions that enable streamlined, single leg transfers between Account IDs:

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transfer_assetreceiver_affirm_asset_transferreject_asset_transfer‍

These new transactions allow a sender to initiate a transfer directly from their Account ID balance to a receiver's Account ID. Because identity resolution happens on chain, callers do not need to perform a separate DID lookup before initiating or affirming a transfer. Compliance checks, double spend prevention and settlement guarantees remain fully enforced by the existing settlement engine.

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The transactions also support immediate execution in the block the transaction is submitted providing clear feedback in failure cases. 

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For transfers:

If the receiver has pre-approved the asset, the transfer executes immediately in the same blockIf not pre-approved, a settlement instruction is created pending the receiver's confirmation‍

For affirmations:

Upon affirmation, if all compliance requirements are met, the instruction executes immediately in the same transactionIf compliance checks do not pass the transaction fails immediately, allowing the receiver to address issues and retryGetting Started with Account ID BalancesBefore using the new transfer flow, an Account ID must hold an asset balance.

This can be achieved in two ways:

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Receiving assets through the existing settlement flow, specifying an Account ID as the destinationMoving funds between a traditional Portfolio and an Account ID under the same identityThese options ensure full backward compatibility. Existing portfolio based workflows continue to function exactly as before.

Still Identity DrivenWhile balances can now be held at the Account ID level, they remain anchored to on chain identities. An Account ID must be linked as a primary or secondary key to a DID, and all compliance checks continue to be evaluated at the identity level.

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This design preserves Polymesh’s distinction between identities and keys, ensuring that simplification of transfers does not weaken regulatory controls.

SDK and Portal Updates Coming SoonSupport for Account ID based balances will soon be reflected in updates to the Polymesh SDK and the Polymesh Portal, making it easier for developers and users to take advantage of the new functionality.

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These updates will streamline integration and expose the new transfer flows through familiar tooling and interfaces.

Looking Ahead to v8.0Version 7.4.0 is a foundational, non breaking release.

In the coming months, we are targeting v8.0 as the next major upgrade. That release will expand Account ID based balance support further and is expected to remove the need to reference a DID when providing an Account ID in settlement transactions. Because that change will modify existing interfaces making it a breaking change, it is planned to be included in the next major release.

Polymesh v7.4.0 delivers immediate usability improvements today and lays the groundwork for a more intuitive, account oriented settlement model in future updates.

Explore the DetailsFor comprehensive technical documentation, see:

Settlement Overview – How settlements and Account ID transfers work under the hoodPortfolios – New Account ID portfolio sectionAsset Transfers – Detailed settlement flows and examplesQuestions?Join the conversation in the Polymesh Community or reach out to the core team. We're excited to see how Account ID asset balances enable new use cases and simpler integrations!

Polymesh v8 introduces self-registered DIDs, simplified asset transfers, expanded account-based ownership, EVM smart contract support, and Confidential Assets on Testnet.

The Polymesh v8 upgrade is approaching and will introduce some of the most significant changes to the network since launch.

We are currently targeting the following rollout schedule:

Testnet: 24 June 2026
Mainnet: 22 July 2026

Polymesh v8 focuses on simplifying onboarding, reducing transaction friction, expanding asset ownership models, and improving compatibility with broader blockchain tooling, while maintaining the flexibility required by regulated asset ecosystems.

This release also includes a substantial upgrade of the underlying blockchain framework and modules to Polkadot SDK version stable2603-2.

Taken together, these changes represent an important evolution of the platform. The release removes several sources of friction that have historically impacted users and developers while introducing new capabilities that expand how applications can be built on Polymesh.

Who Should Read This?This upgrade is particularly relevant for:

DevelopersIntegratorsInfrastructure OperatorsAsset IssuersWallet ProvidersAt a GlancePolymesh v8 introduces:

Self-registered DIDs, no CDD Claim requiredDID Registrars replacing CDD ProvidersReceiver affirmations become opt-inExpanded account-based ownership for assets and NFTsAsset allowances and delegated spendingEVM smart contract support via PolkaVM and ReviveGeneric Polkadot Ledger app supportConfidential Assets available on TestnetUpgrade to Polkadot SDK stable2603-2Infrastructure Releases Available NowNode binaries and Docker images for v8.0.0 are already available. Nodes can be upgraded ahead of the runtime upgrade, allowing infrastructure operators to begin preparation immediately.

Node Releasehttps://github.com/PolymeshAssociation/Polymesh/releases/tag/v8.0.0

Docker Imageshttps://hub.docker.com/r/polymeshassociation/polymesh/tags?name=8.0.0

Infrastructure operators are strongly encouraged to upgrade and begin testing as soon as possible.

Simpler Identity OnboardingOne of the biggest changes in v8 is a new approach to identity registration.

Historically, users joining Polymesh were required to obtain a DID through a CDD Provider, complete identity verification, and receive a CDD Claim before participating on the network. While this model established a trusted identity framework, it also introduced onboarding friction for users and developers.

In practice, asset issuers and applications still needed to perform their own onboarding and KYC processes to satisfy regulatory requirements. This often resulted in users completing multiple onboarding flows before they could begin using an application.

Polymesh v8 removes the requirement for CDD Claims and allows users to self-register DIDs directly on-chain.

CDD Providers are being migrated to a new DID Registrar model. Permissioned DID Registrars can continue to register identities on behalf of users, while users who do not require a registrar can create identities directly.

The result is a significantly simpler onboarding experience while retaining flexibility for institutions and applications that wish to manage identity registration workflows.

Simpler Asset TransfersAnother major change in v8 is the transfer affirmation model.

Historically, transfers required receiver affirmations by default, adding additional steps before assets could settle. While this helps prevent unwanted transfers, it also adds friction to the transfer flow.

In v8, receiver affirmations are disabled by default for all users.

Users can still require receiver affirmations when needed by enabling them, but the default experience is now significantly simpler and more closely aligned with user expectations from other blockchain ecosystems.

This reduces friction while preserving the ability to enforce additional controls when necessary.

Important: Applications that assume all transfers require receiver approval should review their transfer flows before the chain is upgraded.

Expanded Account Based Asset OwnershipPolymesh v7.4 introduced support for account based native asset balances as an alternative to traditional portfolio based ownership.

Polymesh v8 extends this model to support NFTs, introduces a new settlement.transferFunds method, removes the need to specify a DID in addition to an account address, and simplifies the account based settlement flow.

Identity owned portfolios remain fully supported and continue to be the preferred model for many institutional workflows where share control via secondary keys is required. However, developers can now choose between portfolio based and account based ownership models depending on their application requirements.

The Polymesh Portal has been updated accordingly, with the Portfolio page evolving into a Balances experience that supports both portfolios and accounts, and the Transfers page supporting account based transfers.

Asset Approvals and Delegated Spendingv8 introduces approval based allowances for key held assets.

This allows an account holder to authorize another account or smart contract to transfer assets on its behalf within defined limits. Without an allowance, only the account key holder can transfer assets associated with that key.

These delegated spending capabilities enable new application patterns and align Polymesh more closely with workflows commonly found across the broader blockchain ecosystem, such as ERC20 style tokens.

Allowances work in conjunction with the new settlement.transferFunds method.

EVM Smart Contract SupportPolymesh v8 introduces EVM compatibility through PolkaVM and the Revive pallet.

Developers can build Solidity based smart contracts while continuing to leverage Polymesh identity and asset infrastructure.

This opens the door to a broader range of developer tooling and application architectures while maintaining access to Polymesh specific functionality.

Hardware Wallet and Ledger Support UpdatesWith v8, Polymesh will also support the generic Polkadot Ledger application as well as the Polkadot Migration app, expanding hardware wallet compatibility across the ecosystem.

At Mainnet launch, the existing Polymesh Ledger application will be updated to a Polymesh branded version of the generic Polkadot app, while continuing to use the Polymesh specific key derivation path to ensure compatibility with existing accounts.

The Polymesh wallet extension has already been updated to support all three wallet options.

These generic Ledger applications use a metadata hash based approach, enabling support for clear signing of current and future transaction types without requiring frequent application updates as the runtime evolves.

Confidential Assets on TestnetPolymesh v8 also introduces Confidential Assets, as previously previewed on Devnet, to Testnet.

This functionality enables counterparty privacy, asset confidentiality, and balance confidentiality while maintaining the compliance and auditability requirements expected of regulated assets.

Confidential Assets will be available for experimentation and feedback on Testnet but will remain disabled on Mainnet while additional development, testing, and auditing activities continue.

This Testnet release allows developers and ecosystem participants to begin exploring the functionality and providing feedback ahead of a future Mainnet activation.

Look out for more information on Polymesh Confidential Assets in the coming weeks.

Required Software VersionsDevelopers and integrators should begin preparing to upgrade to:

Polymesh v8.0.0polymesh-sdk v30.0.0polymesh-types v7.4.0polymesh-subquery v19.6.0polymesh-rest-api v8.1.0-alpha.1 or newerThe SDK release is compatible with both the current network and v8, allowing applications to begin preparing before the upgrade.

What Happens Next?In the coming days and weeks we will publish:

Migration guidanceUpdated documentationInfrastructure upgrade guidanceUpdated Confidential Assets documentationWe encourage all developers, integrators, infrastructure operators, and ecosystem participants to begin testing against Testnet as soon as it becomes available.

If you have any questions, please reach out via Discord or our support channels.

Thank you to everyone who has contributed feedback, testing, and development throughout the v8 cycle.

We look forward to seeing what the community builds with Polymesh v8.

‍

The Wall Street Journal reported that Iranian entities have funneled $3.84 billion through crypto exchange CoinEx since 2019, using the platform as a pressure valve to circumvent US sanctions. The findings, based on analysis by blockchain intelligence firm TRM Labs, trace funds back to wallets linked to Iran’s Central Bank and the domestic exchange Nobitex.

How the money moved According to the WSJ report, funds from Iran’s Central Bank wallets, including USDT stablecoins, moved through various intermediary routes before landing on CoinEx. Nobitex, Iran’s largest domestic crypto exchange, served as the on-ramp. CoinEx became the off-ramp to global markets. At peak volume, transactions between the two platforms hit $763 million in a single year.

By 2024, CoinEx had become Nobitex’s largest foreign counterparty. That distinction previously belonged to Binance, the world’s biggest crypto exchange, which pulled back after implementing stricter sanctions compliance controls.

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CoinEx was founded in 2017 by Haipo Yang and operates out of the Seychelles. The exchange has since said it is implementing new Know Your Customer measures and restricting access for Iran-based users.

The sanctions backdrop On June 2, 2026, US authorities sanctioned Nobitex, citing connections to entities including the Islamic Revolutionary Guard Corps (IRGC). Over 60 Iranian entities are linked to the crypto flows detected by TRM Labs.

The $3.84 billion figure identified by TRM Labs likely represents only the transactions that could be traced through on-chain analysis. The actual volume of Iranian funds moving through global crypto markets could be substantially higher, given the use of privacy tools, chain-hopping, and peer-to-peer transactions that don’t touch centralized exchanges at all.

What this means for investors CoinEx’s announcement that it’s now tightening KYC and restricting Iranian users is a reactive move, not a proactive one. The exchange processed billions in suspect transactions over roughly seven years before announcing compliance improvements.

Exchanges that invest heavily in compliance, including Coinbase, Kraken, and Binance post-settlement, gain a structural advantage every time a rival gets caught facilitating illicit flows. Traders and investors should weight their platform choices accordingly, because the exchange you use is itself a risk factor.

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

Getting listed on Upbit is the crypto equivalent of landing a shelf at Costco. The volume is enormous, the audience is hungry, and things tend to move fast. OriginTrail’s TRAC token is about to get that shelf space.

South Korea’s dominant digital-asset exchange will begin supporting TRAC trading across KRW, BTC, and USDT markets on May 18, 2026. For a token built around supply chain data integrity and decentralized knowledge infrastructure, this is arguably the biggest distribution event in its history.

Why Upbit listings matter more than most Upbit consistently leads South Korean trading volume, and the Korean won (KRW) market is one of the most active retail trading environments on the planet. When a token gets a KRW pair on Upbit, it’s suddenly accessible to millions of traders who have historically shown an appetite for moving fast and moving big.

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Previous Upbit listings of data and AI-adjacent tokens have resulted in sharp short-term price movements and surges in trading volume. When Bittensor’s TAO was listed on the exchange, its price surged to $189.23 shortly after, reflecting the kind of aggressive local demand that makes Upbit listings a marquee event in token economics.

The fact that TRAC is getting three trading pairs, not just one, signals a level of commitment from the exchange. KRW gives it the retail firehose. BTC provides the trading pair for more traditional crypto-native users. USDT rounds it out for stablecoin-denominated traders.

What OriginTrail actually does OriginTrail has been around since 2018, which in crypto years makes it practically ancient. The project operates what it calls the Decentralized Knowledge Graph, a system designed to organize, verify, and make discoverable trusted data across supply chains and enterprise networks. TRAC serves as the utility token for staking and data publishing within that system.

Upbit has been gravitating toward projects with ties to data and artificial intelligence, two themes that have been dominating Korean retail interest. TRAC fits neatly into that category without being a pure AI play, which gives it a slightly differentiated profile compared to the wave of AI tokens that have flooded the market.

What this means for investors Getting listed on Upbit with three trading pairs dramatically improves pricing efficiency. Tighter spreads, deeper order books, and better arbitrage opportunities across global exchanges are all natural consequences. Before this listing, Korean traders who wanted exposure to TRAC had to go through international exchanges or more circuitous routes.

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

Access Protocol’s ACX token surged after unveiling Creator Coins on Solana, a new monetization model for digital creators. 

Summary

Access Protocol launched Creator Coins on Solana, powered by Proof of Audience and Raydium Launchlab. ACX surged over 100% intraday, with volume spiking 10,909%. Creator Coins reward early supporters and provide creators with sustainable revenue models. Creator Coins operate like memecoins but are directly tied to individual creators, offering a tokenized way to align incentives between communities and the talent they follow.

The announcement was made on Aug. 25, 2025, in a post on X and an official press release by Access Protocol (ACX).

Unique Proof of Audience Model Unlike speculative launches with no built-in demand, Access has embedded a Proof of Audience system that sets milestones before any coin can go live. These milestones ensure creators show genuine traction.

https://twitter.com/accessprotocol/status/1959974226409959869?s=46&t=nznXkss3debX8JIhNzHmzw

They include a minimum number of stakers, pool scores, and staking thresholds. Once those conditions are satisfied, token allocations are given to supporters, and creators receive their share, which is vested over a two-year period.

The goal of this strategy is to balance community benefits with long-term creator income. Tokens are tradeable from day one, while Access has also layered in a Creator Token Incentive Program that sends millions of ACS tokens to creators, stakers, and traders every month.

The launch is supported by Raydium’s (RAY) Launchlab on Solana (SOL), ensuring liquidity and tradability from day one. Creator tokens distribute 10% of the supply to early supporters, while creators receive 20% vested over two years.

Market reaction and ecosystem impact Following the news, ACX price rallied more than 100%, climbing from roughly $0.00108 to a high of $0.00223 before retracing. As of this writing, ACX is still up 16% for the day and has shown comparable gains throughout the week. 

Additionally, trading activity increased significantly. In the last 24 hours, the daily volume increased by 10,909% to $95 million, indicating a renewed interest in the Access Protocol ecosystem.

The market’s reaction shows a high level of interest in both ACX and the larger Creator Coin concept. Access is establishing itself as a competitor to subscription-based platforms such as Patreon by linking token utility to creators and their audiences, while also capitalizing on the trading culture that has propelled Solana’s expansion.

Web3 privacy-focused infrastructure provider Nym Technologies has joined Liquid Federation to support the growing Bitcoin layer-2 ecosystem, according to an April 18 statement shared with CryptoSlate.

The Liquid Federation is a group of crypto-native organizations, including exchanges, trading desks, and developers, that perform vital tasks for the premier Bitcoin sidechain, Liquid Network.

‘Enhancing privacy'As part of its engagement, Nym Technologies assumes a crucial role as one of the 15 dispersed functionary node operators for Liquid Network.

These specialized nodes, housed in tamper-proof Hardware Security Modules (HSMs), are crucial in managing the Liquid Network's core infrastructure and transactions. This includes proposing and signing blocks, overseeing the two-way Bitcoin peg, and safeguarding the network's BTC reserves through a distributed multi-signature wallet.

Meanwhile, the collaboration between Nym, the Liquid Federation, and Blockstream, the Liquid's technical provider, signifies the first step towards a broader vision.

As per the official statement, the partnership aims to integrate Liquid functionality into the Nym mixnet, bolstering transaction confidentiality during transit and elevating privacy standards for Bitcoin layer-2 users.

Nym's mixnet is a foundational privacy infrastructure at layer-0, adaptable to any blockchain and adept at concealing traffic, fortifying privacy, and enhancing security for users and validators alike.

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Dr. Adam Back, CEO and co-founder of Blockstream, said:

“Liquid's Confidential Transactions, which rely on homomorphic encryption, are designed to keep transaction details confidential while protecting the network's integrity and security. Nym's decision to become a Liquid functionary underscores our shared commitment to enhancing privacy within the Bitcoin layer-2 ecosystem”

Harry Halpin, CEO of Nym Technologies, expressed excitement about Nym's closer collaboration with Liquid and Blockstream following years of diligent development.

Notably, the partnership coincides with the impending fourth Bitcoin halving event, which would reduce block rewards to 3.25 BTC.

Nym Technologies, the company behind privacy protocol Nym, is now a step closer to launching NymVPN, which it claims will be the "world's most private VPN."

Nym touts NymVPN's anonymous zero-knowledge proof registration feature—which means not even the app will know who's using it. It's also introducing extra noise at the network level in an effort to combat AI's ability to detect patterns and deanonymize traffic.

It's been a long road to reach the beta phase, said CEO Harry Halpin.

"We are proud to launch NymVPN for public beta testing at Web3 Summit where we first took Nym out of stealth mode in 2019," he said in a release. Halpin gave a demo of the NymVPN at the Web3 Summit on Wednesday morning in Berlin.

Nym was founded in 2017 and has raised more than $100 million from the likes of Andreessen Horowitz, Digital Currency Group, Polychain Capital, Tayssir Capital, and 1kx. It's best known for its mixnet, which uses network nodes to shuffle and recombine details linked to packets of data.

With NymVPN in its open beta phase, anyone can now register to test it. The VPN offers "genuine unlinkability and privacy that wan withstand AI-driven pattern recognition," the company said.

The antidote to AI, which has supercharged the technical ability to de-anonymize metadata, is noise. Nym says its VPN is the first of its kind to generate extra noise as "cover traffic" to help obscure which users are talking to one another.

It's not unlike how Nym's mixnet works, which disaggregates pieces of metadata, like a person’s IP address or the recipient of a message, and mixes it with other metadata. The resulting packets of encrypted data combine the IP addresses, time, date, and location of many different people’s metadata.

The mixnet is most effective when many node operators participate, breaking apart and remixing packets of metadata. Otherwise it’s like trying to hide in a crowd of only a couple of people. But generating noise at the network level bypasses the problem of needing to scale before there's enough activity to keep all users private.

"The result is a “noisy” communication pattern, effectively preventing network observers from determining who is speaking to whom," Nym said.

Nym is also promising that its VPN won't know who's using it because of its zero-knowledge proof registration. Its zk-nyms will allow users to verify and manage their accounts without ever having to reveal their identity.

"This technology ensures that even the platform itself has no knowledge of who is using the service," according to Nym.

And rather than choosing to sacrifice speed for increased anonymity or vice versa, Nym said its VPN puts that decision in the hands of its users. The VPN's fast mode will obscure the user's IP address and route the traffic through two independent servers.

But the anonymous mode will route traffic through five servers, add "noise," and use novel onion encryption—similar to the technology used by The Onion Router (TOR). "This mode offers unparalleled privacy by making it extremely difficult for any observer to trace your online activities. It is optimal for highly sensitive traffic which is latency insensitive," the company said. 

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Privacy-centric firm Nym, backed by a16z and other investors, has launched its zero-knowledge powered payment system and introduced a perpetual token buyback model.

The decentralized technology provider’s DePIN payments system and token buyback are now live for public testing. Specifically, NymVPN, first introduced in November 2023, will launch commercially on March 13, 2025. 

Ahead of the public rollout, users will have the opportunity to battle-test the payment mechanism,, the NymVPN team said in an announcement. 

When it goes live, subscribers will be able to pay in fiat such as euros and dollars, or in Bitcoin (BTC). The project also supports payments with the native NYM token. Nym will convert all fiat and crypto payments for NymVPN subscription to the native token NYM, with the perpetual buyback set to create a “flywheel” reflecting market demand.

“The launch of NYM activated the supply-side of privacy and created a network of over a thousand nodes. Today we are activating the demand side, allowing ordinary users to pay in fiat and Bitcoin for NymVPN. Their payment is then converted to NYM token buy-orders to keep the network running,” the Nym CEO added.

With global need for privacy solutions and VPN adoption on the rise amid increased security and censorship, Nym’s layer-0 network offers both the anonymity and safety users need. Meanwhile, buyback means subscriptions will help create consistent buy pressure for the NYM token.

NYM, which launched in 2022, is a token designed to reward the Nym ecosystem’s mixnet node operators. According to Harry Halpin, chief executive officer of Nym, the token is key to the project’s goal of delivering a privacy-focused decentralized network.

The launch of the DePIN payment system and the NYM token repurchases brings the project’s crypto-economics “full circle.” It allows NYM’s use in tokenization and in rewards, providing further incentive for the community.

“Just like everyone should enjoy clean water and electricity, people deserve secure and private communication,” Jaya Brekke, chief strategy officer at Nym, said. “This is not speculative, but a growing real world need. And with the launch of the perpetual buyback mechanism, the token can shift out of a speculative promise to instead signal such real world demand.”

Table of contents

Quick Answer: XRP is trading at $1.17 on June 18, 2026, down 2.52% as the post-FOMC selloff continues. The defining XRP news this week is legislative: the CLARITY Act cleared the Senate Banking Committee 15-9 in May and has been placed on the Senate floor legislative calendar on June 1 — meaning a full Senate vote can happen at any time. Polymarket prices 2026 passage at 72%. If the bill passes before the July 4 target set by the White House, XRP’s digital commodity status becomes permanent federal law — a classification that no future administration can reverse with a memo. Standard Chartered and JPMorgan both project $4–8 billion in XRP ETF inflows under that scenario, three to six times the $1.44 billion accumulated to date. XRP exchange reserves have fallen to a 7-year low of 1.6 billion tokens. Whale wallets holding 10M+ XRP now control 68.5% of circulating supply — the highest concentration since May 2018.

Key Takeaways

CLARITY Act is on the Senate floor legislative calendar — a full Senate vote can now happen at any time, with the White House targeting July 4 signing The bill cleared Senate Banking Committee 15-9 in May, with all 13 Republicans voting yes after Sen. John Kennedy committed his support — the bipartisan vote was cleaner than feared XRP exchange reserves at a 7-year low of 1.6 billion tokens — 50% below the October 2025 peak of 3.76 billion, compressing available sell-side liquidity to multi-year lows RLUSD reached $1.7B market cap, ranking as the 8th-largest stablecoin globally — Mastercard added RLUSD to its 24/7 settlement network on June 3; Ripple is pursuing a Federal Reserve master account Post-FOMC pressure is the dominant short-term headwind: hawkish dot plot (9 Fed members projecting hike) outweighs XRP-specific positives in the near term — but the structural setup has rarely been this clean XRP Price Today: $1.17, Absorbing FOMC Hawkishness XRP is at $1.17 on June 18, down 2.52% with a market cap of $73.02 billion and 24-hour volume of $1.91 billion — up 14%. Of the 100 billion maximum supply, 62.05 billion circulate across 535,830 holders. Fully diluted valuation is $117.68 billion.

Today’s move is entirely macro-driven. Yesterday’s FOMC dot plot — 9 of 18 members projecting a rate hike by year-end, PCE revised to 3.6% — reset rate expectations across all risk assets. XRP is not immune to that. But what separates XRP from most assets in the current environment is the independence of its primary catalyst: the CLARITY Act moves on legislative, not monetary, logic.

The SEC case against Ripple concluded in August 2025 with a joint dismissal of appeals, confirming XRP is not a security when sold on public exchanges. Ripple paid a reduced $50 million penalty with $75 million returned as part of the settlement. Both the SEC and CFTC currently view XRP as a digital commodity, but that classification has not been written into law. An executive agency classification can be reversed by the next administration with a memo. A statute cannot. The CLARITY Act changes that permanently.

Key levels:

Resistance: $1.20 (psychological), then $1.28–$1.30 (June 15 high) Support: $1.10 (critical), then $1.00 (psychological floor) The CLARITY Act: Where It Stands Right Now The CLARITY Act was officially added to the Senate legislative calendar on June 1, after clearing the Senate Banking Committee. The next step is a full Senate vote, after which it will be sent to President Trump for signing.

The CLARITY Act passed the House 294 to 134 and cleared the Senate Banking Committee 15 to 9. The Senate floor vote is the decisive gate. The bill needs 60 votes to clear the filibuster — meaning at least 7 Democrats must cross over. The committee vote passed 15-9 with some bipartisan support, which is the baseline Democrats need to replicate on the floor.

Why 60 votes matters: The Senate has 53 Republicans. A 60-vote threshold requires 7 Democrats. The senators to watch are Warner and Cortez Masto — those votes are the hardest part of getting to 60. The Reed stablecoin amendment that nearly derailed the committee markup was defeated, keeping the bipartisan compromise language intact — a positive signal for floor vote prospects.

Prediction markets have priced 2026 signing odds around 72%. The White House has set a July 4 signing target. Senate floor time between now and July 4 is limited — the bill needs to be scheduled and voted before the Independence Day recess.

What passage does for XRP specifically: A clear commodity classification removes listing hesitancy. Exchanges that stayed cautious during the legal fight could deepen XRP support, tightening spreads and improving liquidity. Institutions need regulatory certainty before allocating. Clear rules strengthen the case for more XRP ETF products and larger inflows, building on the spot ETFs already live.

The Supply Story: Exchange Reserves at 7-Year Lows XRP exchange reserves fell to a 7-year low of 1.6 billion tokens this year, a 50% drop from October 2025’s 3.76 billion peak, compressing sell-side liquidity to multi-year lows.

This is one of the most consequential structural developments for XRP’s price setup. When exchange reserves fall this sharply, the coins leaving exchanges are going to private custody — not being sold. The implication: the supply available for large sell orders on exchanges is structurally thinner than at any point in seven years.

The number of wallets holding 10,000 or more XRP has hit an all-time high of 332,230. The millionaire tier — wallets holding over one million XRP — added 42 new addresses since January and accumulated 1.2 billion tokens in Q1 alone, the heaviest quarterly accumulation since 2023. Mega whale wallets holding 10 million or more XRP now control approximately 45.83 billion tokens, representing 68.5% of circulating supply — the highest concentration since May 2018.

The mechanism: when 68.5% of supply is controlled by conviction holders who are actively accumulating, and exchange reserves are at 7-year lows, even moderate institutional buying pressure produces outsized price moves. The float is thin. The buyers are patient. The catalyst — CLARITY Act — is binary and approaching.

RLUSD and ODL: The Utility Case Strengthening Independently While the CLARITY Act is the legislative catalyst, Ripple’s on-chain infrastructure has been strengthening independently in June 2026.

RLUSD has grown to approximately $1.7 billion in market cap, ranking as the eighth-largest stablecoin globally and live across more than 40 networks. On June 3, Mastercard added RLUSD to its 24/7 on-chain settlement network alongside USDC and PYUSD.

Ripple is also pursuing a Federal Reserve master account, a process currently paused until end of 2026. A Fed master account would allow Ripple to settle transactions directly with the Federal Reserve’s payment system — removing commercial bank intermediaries and dramatically reducing the cost of ODL corridor transactions. It is potentially the most significant operational milestone in Ripple’s history, but it is a 2027 story at the earliest.

Ripple, JPMorgan, Mastercard, and Ondo Finance completed a live cross-border tokenized US Treasury settlement on the XRP Ledger that finalized in under five seconds. This is not speculative — it is a completed transaction by the largest financial institutions in the world, settling real assets on Ripple’s infrastructure. The XRPL’s real-world asset capabilities are being validated in production, not just theory.

Price Scenarios: What CLARITY Act Means in Dollar Terms From around $1.17 where XRP trades now, the key scenarios are: a failed Senate vote points back toward the $0.80–$1.00 range; passage near the recess supports a re-rating to $1.60–$2.20; and passage plus renewed ETF inflows and a softer Fed opens up the $2.50–$3.50 price range.

Standard Chartered projected $4 billion to $8 billion in cumulative XRP ETF inflows by year-end if the bill passes. With flows of such volume, XRP would most likely break the current resistance, retest its 200-day moving average at $1.80, and have the runway to push toward higher targets like $3–5 by late 2026.

The bear case: If Tim Scott doesn’t schedule the markup before Memorial Day recess on May 21, or if the markup happens but Republicans can’t unify the committee vote, the bill will most likely be shelved until 2030. That deadline has now passed — the committee vote cleared 15-9. The next hard deadline is the July 4 recess. If the Senate floor vote does not happen before July 4, the next viable legislative window is after the November 2026 midterms.

For context on the current macro environment affecting all crypto assets, see our daily market update for June 18.

ETF Flows: $1.44 Billion, UBS and Bank of America Positioned US spot XRP ETFs have accumulated $1.44 billion in cumulative net inflows since their November 2025 launch across seven products. May 2026 was the strongest single month with $132 million. UBS and Bank of America took first-time XRP ETF stakes in May — the first tier-1 global banks to allocate directly to XRP products. Goldman Sachs allocated $154 million in Q1 2026.

Some of that CLARITY Act move may already be in the price, because the market has watched this bill advance for months. So the real question is not whether clarity helps XRP, but how much of the waiting money actually moves once the bill is law, and how much already has.

The honest assessment: the ETF bid is real and growing. The question of how much is already priced is legitimate. What is not priced is the pension fund and sovereign wealth fund allocation tier — those institutional buyers legally cannot allocate under agency guidance. They need a statute. The CLARITY Act is that statute.

Track real-time XRP ETF flows at SoSoValue.

Where to Buy XRP Binance — world’s largest exchange by volume, deep XRP/USDT liquidity, RLUSD trading pairs available.

Coinbase — US-regulated, XRP available for spot purchase with insured custody.

Kraken — established 2011, competitive XRP fees and strong security record.

KuCoin — wide XRP trading pairs, access to XRP ecosystem tokens.

Gate.io — RLUSD listed here alongside XRP, natural venue for XRP/RLUSD strategies.

OKX — advanced XRP derivatives, competitive funding rates.

This article does not constitute financial advice. Cryptocurrency markets are volatile. Always conduct independent research before making investment decisions.

Alchemy Pay, a Singapore-based fiat-to-crypto payment gateway, has been admitted to Mastercard’s newly launched Crypto Partner Program, a global initiative designed to align on-chain innovation with established card-payment rails.

The Mastercard Crypto Partner Program, announced on March 11, brings together more than 85 crypto-native companies, payments providers, and financial institutions. According to Mastercard, the initiative aims to create a shared framework for collaboration as enterprise use cases such as cross-border settlement, payouts, and business-to-business money transfers continue to mature.

“Digital assets are entering a new phase,” Mastercard said in its announcement. “What once ran in parallel to existing financial systems is increasingly being applied to solve practical, real-world needs,  often behind the scenes.”

Building on Existing Infrastructure Alchemy Pay’s inclusion deepens an existing relationship with Mastercard. The company was previously added to Mastercard’s Site Data Protection (SDP) Compliant Registered Service Provider List, placing it alongside global names such as Amazon, Google, and J.P. Morgan. Each company on the list is required to comply with Mastercard’s rules and data-security standards.

“Our inclusion in the Mastercard SDP Program demonstrates our commitment to operating within the bounds of regulatory frameworks,” Robert McCracken, Alchemy Pay’s Ecosystem Lead, said at the time. “Ultimately, though, it’s the consumer that benefits from seamless access to blockchain finance via global payment standards like Mastercard.”

Alchemy Pay currently supports fiat-to-crypto transactions across more than 173 countries using over 50 fiat currencies. Its product suite includes on-ramp and off-ramp solutions, an NFT checkout feature, and a white-label crypto card program that operates on both Visa and Mastercard networks. The company holds regulatory licenses in key markets, including the United States, Canada, and the United Kingdom.

Broader Industry Alignment The Crypto Partner Program builds on Mastercard’s earlier blockchain engagement through its Start Path accelerator and Engage platform, which includes a dedicated Crypto Card track.

Raj Dhamodharan, Mastercard’s Executive Vice President for Digital Asset Blockchain Products and Partnerships, said the focus is on translating technical innovation into scalable, compliant use cases that can operate across markets and integrate into everyday commerce.

For Alchemy Pay, the program arrives at a pivotal moment. The company recently launched the Alchemy Chain mainnet, a stablecoin-focused Layer 1 blockchain designed to support merchant payments, remittances, and cross-border settlements.

The mainnet launch, which completed Phase 4 of Alchemy Pay’s five-phase roadmap, was built with frameworks including Europe’s Markets in Crypto-Assets (MiCA) regulation, PSD2 payment standards, and Hong Kong’s evolving stablecoin rules in mind.

The company’s native token, ACH, will serve as the network’s gas-fee token and support validator participation and ecosystem incentives. Alchemy Pay’s participation in the Mastercard program positions the company to deepen its institutional relationships as the payments industry continues to explore blockchain-based settlement alongside traditional card infrastructure.

Robinhood Lists Worldcoin Token WLD for Trading

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PANews, June 23 — Robinhood announced that its crypto trading platform now supports trading of the Worldcoin token WLD.

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WSJ：伊朗实体通过CoinEx已进行超38.4亿美元交易

PANews Newsflash35 seconds ago

Echos, the artificial intelligence platform for agentic tokens, is shutting down.

On March 27, the AI agent platform, developed by Cosmos based liquid staking platform Stride, notified its community that operations will cease on May 1, 2025.

Echos, which launched in beta in November 2024, cited low adoption as the main reason for its closure. According to a notice posted on X, the experiment failed to gain meaningful traction, reflecting a broader slowdown in the crypto AI agent space.

“Echos was always an experiment. Unfortunately, Echos has seen little adoption. Also, the overall AI agents market has contracted significantly,” the team stated.

Echos is a Stride app built on Celestia, designed as a rollup.

From vision to sunset At launch, the Stride team envisioned Echos’ AI and memecoin focus as a potential disruptor to the future of decentralized finance. The plan was to evolve Echos from an experimental product into a full rollup ecosystem supporting various use cases within Stride’s liquid staking network.

However, a lack of user traction has brought those ambitions to an end.

The Echos team has urged all users to withdraw their funds before the platform shuts down permanently on May 1.

According to Stride, Echos drew inspiration from Terminal of Truths, the AI agent that saw the memecoin Goateus Maximus (GOAT) explode in the summer of 2024. It went on to hit $1 billion in market cap.

Terminal of Truths, a large language model platform backed by Marc Andreessen of Andreessen Horowitz, gained notoriety after shilling the GOAT token on X—an action that sent the memecoin soaring.

Stride’s vision for Echos was to create a similar AI experience, allowing anyone to launch their own Echo using just a crypto wallet and X account.

While Echos failed to go beyond the first phase of its development, the AI agent sector has since seen several notable projects. Some of the top trending ones include Virtuals Protocol, ai16z, Freysa AI and Delysium.

The world’s largest corporate Bitcoin (BTC) holder is announcing a new stock offering worth hundreds of millions of dollars as a means of accumulating more of the crypto king.

In a new press release, Strategy, formerly known as MicroStrategy, is announcing the stock offering of 11.764 million shares of its 10% Series A Perpetual Stride Preferred Stock (STRD Stock) for $85.00 per share.

[adinserter block="1"]

Strategy estimates that it will acquire about $980 million from the offering, which may give investors quarterly dividends, and intends to use the money for miscellaneous corporate expenses and to acquire more of the top crypto asset by market cap.

Preferred stock offerings, which offer investors higher and more consistent returns as well as stability, are a way for companies to raise funds without weakening their voting rights.

Strategy – which was co-founded by former chief executive and longtime BTC maxi Michael Saylor – currently holds 580,955 Bitcoin worth just over $60.5 billion at time of writing, coming in at an average cost basis of $40,680 per token, according to data from BTC tracking website BitcoinTreasuries.

The data also shows that Strategy currently holds about 2.7% of Bitcoin’s total supply.

Last month, Saylor announced that Strategy doubled the amount of capital it wants to accumulate to purchase more of the flagship digital asset from $42 billion to $84 billion.

Bitcoin is trading for $104,540 at time of writing, a 2.1% rise during the last 24 hours.

Generated Image: Midjourney

On Jul. 21, 2025, Strategy offered yet another perpetual preferred stock. It’s called Stretch. It was introduced less than two months after the launch of another Strategy’s perpetual, Stride. Two other perpetuals are Strike and Strife, launched in January and March, respectively. It’s important to realize how different these stocks are and what their differences are from Strategy’s common stock, MSTR.

Summary

Stretch is the latest of the four preferred stocks issued by Strategy this year It is the first Strategy stock with monthly dividend payouts In the event of a financial shakedown in Strategy, payouts will be sent to bondholders first, then to preferred stockholders, and finally to the common stock (MSTR) owners Stretch, Stride, Strike, and Strife are the preferred stocks launched to facilitate Strategy’s long-term Bitcoin acquisition. The company has ambitious plans to gather $84 billion in two years. Dare bets aim to impress potential investors and attract more capital while creating additional burdens, as the company should pay dividends to the holders of preferred shares.

Preferred stocks usually don’t grant holders voting rights or limit them. Preferred stocks give holders a share in the company and the right to earn from the company’s capital. These stocks are reminiscent of bonds as owners get dividends for the shares held. More than that, in the event of bankruptcy of the company, holders of preferred stock are paid before common stockholders. However, its bondholders have a top priority in such situations.

While some of the investors met the new asset with interest, others saw it as “a stretch.” Critics consider Strategy shares to be risky. The company needs to keep the dividend payments in a precise and timely manner. The more preferred shares the company offers to raise money, the more dividends it must pay. It increases the pressure on its balance sheets that tightly depend on the Bitcoin price.

STRC is a USD pegged security that offers a high yield, backed by the BTC held by MicroStrategy

If you haven't realized yet, this is very similar to when Anchor protocol offered 20% yield on Terra Luna's UST

Steady lads, deploying more ATM sales https://t.co/zoAqlkQsmx

— Pledditor (@Pledditor) July 22, 2025 Stretch Initially, Strategy offered $500 million worth of Stretch (STRC) on Jul. 21, 2025. On Jul. 25, the offering was elevated to $2.5 billion. The company offered around 28 million STRC shares. Timing of the Stretch launch indirectly confirms it as on Jul. 29. Strategy bought 21,021 BTC, spending a whopping $2.46 billion on it.

The new Series A Stretch perpetual stock offers adjustable 9% annual dividend payouts. Dividends are paid once every month. It makes STRC unique as dividends for the rest of the preferred shares are paid out quarterly. The company is adjusting the stock price, aiming to keep the stock’s price around $100. Other features include the at-the-market issuance (meaning that Strategy can always sell more STRC, diluting the asset) and the call option feature.

Stride Stride (STRD) was offered on June 3. Unlike Stretch, Stride is a noncallable perpetual stock. It has an annual 10% dividend paid once in a quarter. Just like STRC and STRK, Stride has an ATM program, and Strategy can always sell more STRD shares.

Just like Stretch these days, the emergence of Stride was met ambiguously as critics were warning about the possibility that Strategy may have to sell its Bitcoin holdings to pay dividends to its shareholders. Some even claimed STRD has “Ponzi vibes” as money raised through MSTR sales may be used to pay dividends to the holders of the preferred stock.

Strike Strike (STRK) was the first of Strategy’s preferred perpetuals with 8% annual dividend payouts. The offering took place in early January 2025 when the company offered 2.5 million STRK shares. Strike shares are convertible. Investors may convert them to Strategy’s common stock, MSTR, at a 10:1 ratio whenever they wish. 

Strife In March 2025, Strategy started selling 8.5 million Strife shares (STRF). STRF shares grant holders 10% annual dividends paid quarterly. The dividend payment may rise, reaching up to 18%. As Strife has no ATM program, Strategy cannot release more STRF shares to the market.

MSTR common stock MSTR common stock appeared long before the Bitcoin pivot of MicroStrategy and even before the creation of Bitcoin itself. The company sold 36 million MSTR back in 1998. MSTR stockholders are partial owners of Strategy. 

Vanguard Group Inc., Capital International Investors, and BlackRock Inc. are the biggest holders of MSTR common stock. They hold between five and 7.8 percent of MSTR.

Who gets compensated first? In the event that Strategy is facing financial problems and has to sell its Bitcoin reserves, the first people to get payments will be Strategy’s bondholders. Then, the payouts will hit the pockets of the preferred stockholders. The seniority of these stocks determines the priority among them. The first ones will be Strife holders, then Stretch holders, Strike holders, and finally Stride holders. The last in line will be MSTR holders. MSTR may have the biggest correlation with BTC prices, but the holders risk more than the holders of the preferred stock. 

Oversimplified. But if MSTR doesn’t take action when the price hits that range, it could cause serious issues.

— Ki Young Ju (@ki_young_ju) December 17, 2024 While Strategy is using a sophisticated system to protect its assets if the BTC price volatility increases, there is a risk that, as soon as weaker Bitcoin treasuries start to go bankrupt, it may cause panic that will end up harming Strategy investors’ well-being as well, so it’s always important to get prepared for possible turbulence beforehand.

In recent months, Compound Finance has become one of the most popular lending platforms in the entire cryptoeconomy. Can it become the most popular?

To be sure, it remains to be seen if Compound will one day unseat Dai builders Maker atop the DeFi ecosystem, even if temporarily. Still, the project’s builders have recently been taking steps to make the “money lego” platform better and its users’ happier. That’s certainly a start.

For example, one of the bigger threads in Compound’s march toward maturity hit the limelight this week as attention gathered around its fresh audit. Specifically, the smart contract specialists at the OpenZeppelin project just published an audit on some of the Compound platform’s most important smart contracts.

⚠️ Here we present a summary of the @compoundfinance audit, including:

– System overview
– Privileged Roles and Future Direction
– Interest-free loans
– Counterproductive incentives
– Full audit reporthttps://t.co/OsGE6w3gnT

— OpenZeppelin (@OpenZeppelin) August 28, 2019

The good news? OpenZeppelin didn’t find any code issues that it deemed to be “critical.” But the auditors did find a series of lesser serious issues that helped the Ethereum community understand the fledgling Compound platform better.

Among these issues, one problem highlighted was that there are currently admin keys that could be used to compromise some of Compound’s tech.

Custodial Compound contracts pose a risk of *unsecured debt*

> cTokens used as collateral remain in the borrower's wallet but are non-transferable

> Admin could allow transfer of collateral cTokens… essentially enabling Compound debt to be undercollateralized https://t.co/jHzlwZgvQe

— Eva Beylin (@evabeylin) August 27, 2019

In response, Compound co-founder Robert Leshner later noted that the platform intended to evolve toward total decentralization.

“Absolutely; the FAQ […] and whitepaper […] are both very transparent about how the admin privileges work, and our goal to decentralize away from having an admin at all,” Leshner said on August 27th. 

Love ’em or hate ’em, Compound opening up their contracts for everyone to pick apart only works in their favor in the long run.

New Assets Being Voted In Like other cryptocurrency platforms, Compound only supports a select number of cryptocurrencies. But that number is about to get bigger.

That’s because Compound has opened up a voting period for its users to decide which digital assets they want to see on the platform next. The projects currently up for consideration include Maker, Tether, Decentraland, Huobi Token, Loom Network, Numeraire, OmiseGo, Paxos, and TrueUSD.

Voting has begun to select the next two Compound protocol assets!

????️ Make your selection: https://t.co/En6tOQffeo

???? Learn more: https://t.co/9uAeCVgcAD

⏱️ Voting is open for two weeks!

— Compound Labs (@compoundfinance) August 28, 2019

“Voting will last for 14 days, after which the 2 winning tokens will be added to the protocol following the creation of cToken integration contracts, successful security audits, and a determination of suitability,” the aforementioned Leshner said.

The Berlin Bump and Beyond Berlin Blockchain Week was earlier this month, and one of its events — ETHBerlin Zwei — saw no shortage of Hackathon projects built atop Compound. That gave the platform a tangible bump in usage.

According to tracker website DeFi Pulse, Compound has been steadily gaining on Maker’s DeFi dominance as of late. Of course, Maker still dominates more than 50 percent of the DeFi ecosystem, but Maker’s slice of the pie has been slowly declining as Compound has gained more attention.

2/ The total supply of DAI in the market has lowered around $14M in the last 90d thanks in part to CDPs moving to Compound and tools like @InstaDApp's Bridge. And so, the stability fee is starting to lower as a result. [TVL charts included for reference. Note difference in scale] pic.twitter.com/sckUjnPvL3

— DeFi Pulse (@defipulse) August 30, 2019

It’s not that one is more impressive than the other, rather that both are at the top of DeFi right now and Compound is notably gaining steam. With that said, Maker and Compound are far from enemies as the DeFi Pulse team has explained:

“For the time being, they appear to have a symbiotic relationship. Maker prints the DAI, Compound creates more demand for DAI in the market.”

Dharma Pivots to Compound On August 29th, Dharma — a top 10 DeFi project at present — announced that it was relaunching its cryptocurrency services upon having phased out its initial offering.

The twist? Dharma’s new services will rely on Compound’s liquidity pools. In moving away from crypto lending, the project’s first offering after the relaunch will be a savings product.

“Working with Compound allows Dharma to focus on the parts of the business which they do best, which in my view include design, product, and user experience, and instead outsource part of the stack,” Autonomous Partners founder and Dharma investor Arianna Simpson said on the news.

William M. Peaster

William M. Peaster is a professional writer and editor who specializes in the Ethereum, Dai, and Bitcoin beats in the cryptoeconomy. He's appeared in Blockonomi, Binance Academy, Bitsonline, and more. He enjoys tracking smart contracts, DAOs, dApps, and the Lightning Network. He's learning Solidity, too! Contact him on Telegram at @wmpeaster

July 17, 2025 – San Francisco, California

Crowdsourced hedge fund announces strategic token buyback as Meta Model leads amid AUM growth. Numerai, the decentralized hedge fund powered by crowdsourced machine learning, today announced plans to buy back $1 million of its token, Numeraire (NMR), from the open market.

The buyback reflects Numerai’s continued investment in its staking ecosystem, a mechanism that aligns thousands of global data scientists with the long-term performance of its hedge fund.

Over the past year, Numerai has more than doubled its AUM (assets under management), growing from approximately $173 million to over $441 million.

The fund now trades more than $1 billion per month across over 30 global markets, relying on machine learning models crowdsourced from a global network of data scientists who stake NMR on their predictions.

Each week, thousands of data scientists submit predictions to Numerai’s tournament and stake NMR on their models’ performance.

These stakes encourage aligned, high-quality contributions to the hedge fund, and it’s working.

Numerai’s stake-weighted Meta Model, an ensemble of user models weighted by their NMR staked, has consistently outperformed individual models, reinforcing Numerai’s incentive-aligned approach to collective intelligence.

Richard Craib, founder and CEO of Numerai, said,

“The success of our stake-weighted Meta Model speaks for itself – it’s outperformed every individual model over the past year.

“As our AUM grows and top institutional allocators join us, the role of NMR has never been more critical.”

But as Numerai’s ecosystem has matured, NMR has become scarce.

With a fixed supply capped at 11 million, and roughly three million NMR remaining in Numerai’s treasury, the company has limited capacity to continue distributing staking rewards at historical levels.

The company says the buyback will help underscore its long-term commitment to its participants and maintain economic stability.

The buyback will be executed gradually to ensure transparency.

Orders will be placed at or near prevailing bid prices, allowing the program to unfold gradually over time.

The full explanation behind the buyback can be found on Numerai’s newly launched blog.

About Numerai Founded in 2015, Numerai is a San Francisco-based hedge fund that crowdsources stock market predictions to solve the hardest problem in finance.

The fund is powered by thousands of data scientists globally who can stake NMR on their models and contribute to a crowdsourced Meta Model used in live trading.

Discord | X | Docs

Contact Lindsay Smith, press for Numerai