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Citigroup (NYSE:C) plans to launch Bitcoin (CRYPTO: BTC) custody for institutional clients later this year, letting them hold crypto and traditional assets through the same framework.

What Citi Is Actually LaunchingAccording to a Citi press release Tuesday, Bitcoin custody forms part of Custody+, a new suite of real-time custody solutions the bank launched alongside completing its US rollout of Single Event Processing technology. 

The platform now processes over 80% of Citi’s asset-servicing volume in real time, cutting processing times for voluntary corporate actions by up to 92%.

The core pitch to institutional clients is simplicity. Traditional securities and crypto custody sit within the same integrated framework, so clients do not need separate infrastructure for each. 

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Citi Token Services already moves tokenized deposits near-instantly on a 24/7 basis across select markets, and Bitcoin custody extends that same foundation into digital assets.

“Custody+ is the product of a multi-year commitment to building infrastructure that matches the speed of our clients’ strategies,” Citi Head of Custody Amit Agarwal noted in the release.

What Else Custody+ CoversBeyond Bitcoin custody, the platform packages several capabilities under one roof:

Real-time asset servicing — 96% of US voluntary events now processed in under two hours Instant settlements — end-to-end from instruction to final settlement at Central Securities Depositories Real-time cash and liquidity — instant position updates and liquidity sweeping Accelerated tax — AI-reduced documentation processing times by up to 70% On-demand FX — real-time execution with automated hedging Why Does This Matter for Crypto Right Now?According to Decrypt, the announcement builds on plans Citi revealed in October to launch institutional Bitcoin custody in 2026. 

It arrives as Wall Street’s push into digital assets accelerates across the board. In January the New York Stock Exchange announced it was working with Citi and Bank of New York Mellon Corp (NYSE:BNY) on a blockchain-based platform supporting tokenized stocks and ETFs. 

In February Morgan Stanley (NYSE:MS) applied for a national trust bank charter specifically for crypto custody.

Citi’s Investor Services business supports clients across more than 100 markets worldwide, including 62 proprietary markets, and invests over $2 billion annually in its platform strategy.

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After years of enforcement actions, lawsuits, and the regulatory equivalent of “I’ll know it when I see it,” the SEC and CFTC have finally put pen to paper on what counts as a security in crypto and what doesn’t. The answer, released March 17, 2026, is surprisingly clean: Bitcoin, Ether, Solana, XRP, and Cardano are digital commodities. Payment stablecoins issued under the GENIUS Act of 2025 are not securities. And the whole framework goes into effect on March 23, 2026.

The joint interpretive release establishes a five-category taxonomy for crypto assets under federal securities laws. It’s the most comprehensive attempt by US regulators to draw clear lines around which digital assets fall under the SEC’s jurisdiction and which belong to the CFTC, or to neither.

What the taxonomy actually says The five categories sort the entire crypto landscape into distinct regulatory buckets. At one end, assets like BTC, ETH, SOL, XRP, and ADA are designated as “digital commodities,” meaning they are explicitly not securities. At the other end, tokenized versions of traditional financial instruments, think on-chain stocks or bonds, are definitively classified as securities, subject to full SEC oversight.

Payment stablecoins get their own carve-out. Tokens issued by entities that comply with the GENIUS Act of 2025, the stablecoin legislation signed into law last year, are excluded from the definition of a security by statute. That’s not an interpretive stretch or a no-action letter. It’s a statutory exclusion.

One of the more nuanced aspects of the framework involves how investment contracts interact with otherwise non-security assets. The guidance acknowledges that a digital commodity can be offered as part of an investment contract during, say, a fundraising round or token sale. But that status isn’t permanent. Once the issuer’s obligations are fulfilled, the asset can shed its investment contract classification entirely.

Why this matters now SEC Chairman Paul S. Atkins framed the release as the agency finally providing “clear regulations” for the industry. CFTC Chairman Michael S. Selig emphasized that harmonizing the two agencies’ approaches was essential for the sector’s growth.

For context, the previous SEC regime under Gary Gensler operated on the premise that nearly every crypto token, aside from Bitcoin, was likely a security. That philosophy fueled enforcement actions against exchanges, token issuers, and DeFi protocols alike. Ripple’s XRP spent years in legal limbo. Solana’s status was debated endlessly. Ether occupied a bizarre gray zone where even SEC officials contradicted each other on its classification.

The new taxonomy resolves all of those questions simultaneously. XRP is a commodity. SOL is a commodity. ETH is a commodity.

For stablecoins, the GENIUS Act already created a licensing framework for stablecoin issuers. Compliant stablecoins are now definitively outside the SEC’s reach by statute.

Market and industry implications For DeFi protocols and token projects, the investment contract provision is particularly relevant. The idea that a token can start life as part of a securities offering but “graduate” to commodity status once issuer obligations are met gives projects a roadmap. It acknowledges the reality that many tokens are sold to fund development but eventually function as utility or governance tools within decentralized networks.

The framework also draws a firm line around tokenized securities. Any project that puts traditional financial assets on-chain, whether it’s tokenized Treasury bills, equity, or corporate bonds, falls squarely under SEC jurisdiction.

Whether this framework survives a future change in administration or congressional priorities remains an open question. Interpretive releases carry less legal weight than formal rulemaking, and a differently composed SEC could theoretically revisit these classifications. But with the CFTC co-signing the guidance and the GENIUS Act providing statutory backing for the stablecoin provisions, unwinding this framework would require considerably more effort than issuing a new staff bulletin.

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

In a groundbreaking pilot backed by Dubai’s government, ten physical real estate towers have been fractionalized into 7.8 million digital tokens. These tokens are now approved for secondary-market trading through regulated platforms, with a minimum participation threshold of AED 2,000, equivalent to approximately $540. Settlement for transactions occurs within 3 to 5 seconds via the XRP Ledger (XRPL), with Ripple Custody safeguarding the digital assets throughout the process.

Dubai Land Department moves to tokenizationThe Dubai Land Department, the official government entity responsible for real estate registration and regulation in the emirate, selected XRPL as the foundation for this initiative. During the first phase, the team successfully minted title-deed tokens equivalent to more than $5 million in property value.

Phase two has launched controlled secondary trading, allowing investors to purchase and resell fractional shares of these properties. All asset transfers are synchronized in real time with the official land registry, ensuring consistency between the digital and traditional records.

Dubai’s long-term strategy aims to tokenize 7% of the city’s real estate market—estimated at roughly $16 billion, or AED 60 billion—by 2033. Scaling up from the current pilot of ten properties will require onboarding a larger number of title deeds, further development of regulated distribution channels, and increased participation from both retail and institutional investors.

Lower investment thresholds and a liquid secondary market are positioned to attract a wider pool of capital, including international participants. As more properties are tokenized under the supervision of Dubai’s Virtual Assets Regulatory Authority (VARA) and trading volumes increase, the cumulative value of tokenized property is projected to build steadily toward the 7% market share target.

PhaseTokenized PropertiesProperty ValueTrading AccessPhase One10 towers$5 millionMinting onlyPhase Two10 towers$5 million+Secondary market launched2033 Target~7% of Dubai market$16 billionOpen, regulatedXRPL and regulated digital real estate infrastructureThe selection of XRP Ledger is linked to its established reputation for speed, stability, and cost efficiency, making it suitable for managing high-value physical assets with clear audit trails. Ctrl Alt, a digital infrastructure provider, handles the technical aspects of minting and managing the property titles on-chain.

Ripple Custody ensures the tokens are protected with institutional security measures. Unlike traditional crypto products that lack underlying physical assets, these tokens correspond to actual legal title deeds endorsed and issued by a government body. Structured as Asset-Referenced Virtual Assets, they comply fully with local legal requirements, but are native to the blockchain environment.

Settlement times for secondary trades are reduced from several weeks to just seconds by recording changes both in the traditional registry and on-chain. The dual-ledger approach provides robust legal certainty while boosting operational efficiency.

The involvement of Dubai’s sovereign land registry with XRPL highlights growing confidence among authorities in using public blockchains for critical, regulated asset classes. The current pilot demonstrates full end-to-end functionality from government title issuance to near-instant trading and secure custody.

Officials expect the property token set to expand over time, aligning with Dubai’s vision to become a global digital asset leader and supporting ambitions to grow tokenized real estate to the targeted $16 billion scale by 2033.

Mini dictionary: XRP Ledger (XRPL), Public blockchain developed by Ripple, known for its speed, low transaction costs, and proven support for both cryptocurrency and tokenized real-world assets such as property and financial instruments.

Fractional ownership of Dubai real estate is now accessible via blockchain tokens, offering rapid settlement and secure custody while ensuring all transfers remain compliant with official land registry records.

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.

Cover image via www.freepik.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

The latest treasury burn of $35.7 million in RLUSD tokens on the XRP Ledger (XRPL) has officially marked an anomalous monthly trend for the asset. Over the past 30 days, Ripple aggressively issued $449.3 million worth of its dollar-backed stablecoin directly on its native blockchain infrastructure. 

However, due to the high intensity of sudden redemptions by institutional clients, the cumulative volume of tokens burned over this exact same period rapidly reached $448.9 million, ultimately putting the final burn rate at a staggering 99%.

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This specific dynamic effectively reduced actual net supply growth on XRPL to near-zero and clearly exposed a deep cross-chain imbalance across the ecosystem.

While capital on Ripple's native network functions almost exclusively within a high-speed transit corridor — with tokens rapidly minted for institutional settlements and immediately burned when redeemed back for fiat currency — Ethereum demonstrates classic, long-term liquidity accumulation.

Crucially, on the competing Ethereum network, $403 million was issued over the same 30-day window, while only $177.3 million was burned, thereby allowing that network to comfortably retain more than $225 million in net inflows.

Business as usual for RippleThe total circulating RLUSD supply now stands at exactly $1.757 billion. Due to these entirely different ways the token is used, total liquidity is currently distributed almost evenly between the two competing blockchains:

XRP Ledger: $883 million (50.2%)Ethereum: $874 million (49.8%) You Might Also Like

The current data confirms that major players heavily utilize XRPL infrastructure for instant real-time conversions, while the Ethereum version of the token is distinctly preferred for long-term holding within the DeFi market. 

In this context, the recent removal of $35.7 million from circulation is not a sign of declining demand, but a direct reflection of this dual-chain RLUSD operating model at work.

[PRESS RELEASE – Dubai, UAE, August 18th, 2026]

BNB Chain, one of the largest blockchain ecosystems worldwide, today announced BNB Agent Studio v2, an update to its AI agent development platform. The release expands what autonomous agents can do with money, from earning their own income to operating inside owner-defined financial limits enforced onchain.

BNB Agent Studio launched in July, allowing developers to describe an AI agent in a single prompt and deploy it to BNB Smart Chain (BSC). In its initial release, agents could spend but not earn. v2 closes that gap: agents can now be hired and paid directly, with funds settling to their wallet through a standard receiving interface that completes the ERC-8183 commerce flow end to end.

The update also introduces Altana, a new self-custodial wallet option built to resolve one of the central constraints in agent design: how much authority an agent should hold over a user’s funds. Agents using Altana operate through scoped session keys governed by spending limits, allowlists, and time bounds set by their owner in advance. These permissions are recorded onchain, allowing anyone to verify what a given agent is authorized to do, and can be revoked instantly without key rotation or downtime.

Altana joins TWAK (Trust Wallet AgentKit), the platform’s existing wallet option for agents that require continuous, autonomous signing without a person in the loop. With both options now available, builders can match the wallet architecture to the agent’s purpose: TWAK for always-on autonomous operation, or Altana for agents that require clear, verifiable boundaries around fund access. A yield agent, for instance, can harvest and restake earnings without holding access to principal; a lending agent can top up collateral without the ability to withdraw it.

v2 also adds TypeScript support alongside the platform’s existing Python SDK, and introduces a Paymaster that covers gas on BSC Testnet, removing the manual funding step previously required to begin testing an agent.

Key updates in v2:

Agents can now be paid for their work, completing the ERC-8183 commerce flow end to end. Altana, a new self-custodial wallet option, enforces spending limits, allowlists, and time bounds onchain. TypeScript is now supported alongside Python. A Paymaster covers testnet gas, removing manual wallet funding for testing BNB Agent Studio. A standard provider interface replaces per-provider integration work for cloud deployment. BNB Agent Studio v2 is live now, with existing agents continuing to run without migration. BNB Chain currently hosts more registered AI agents than any other network.

BNB Agent Studio is available at bnbchain.org/en/bnb-agent-studio.

About BNB Chain

BNB Chain is one of the largest and most active blockchain ecosystems in the world. Its multi-chain architecture spans BNB Smart Chain (BSC), opBNB, and BNB Greenfield, giving developers the flexibility to choose the environment best suited to their application. With high throughput, low transaction costs, and full EVM compatibility, BNB Chain is built for high-speed trading, AI agents, privacy, and instant payments. It is the blockchain with superior distribution and deep liquidity, built for global markets and the next billion users. For more information, users can visit www.bnbchain.org.

Equity-based transaction with Winklevoss Capital activates 4.2 GSol/s of live, U.S.-based hashrate; approximately 18% of the Zcash network; Industry veteran Kevin Zhang joins as Head of Mining

, /PRNewswire/ -- Cypherpunk Technologies Inc. (Nasdaq: CYPH) ("Cypherpunk") today announced the launch of Cypherpunk Mining, which is now the largest Zcash mining fleet in the world, through a $33.33 million equity-based transaction with Winklevoss Capital. The fleet is online today, with approximately 4.2 GSol/s of Equihash hashrate deployed across the United States, which currently represents approximately 18% of the total Zcash network.

"Up until now, investors have had limited options for Zcash mining exposure. With the acquisition of this mining fleet, Cypherpunk changes that," said Cameron and Tyler Winklevoss. 

With the launch, Cypherpunk now offers public market investors exposure to both Zcash mining and treasury upside and continues Cypherpunk's evolution into a diversified privacy technology company.

"Following the expansion of our ZEC treasury and investment in ZODL, Zcash mining is the next piece of the constellation of privacy technologies we're assembling," said Will McEvoy, Chief Investment Officer of Cypherpunk. "The Zcash flow from Cypherpunk Mining provides financial and operational flexibility to fund future growth, the acquisition of additional ZEC, and new privacy-preserving technology investments."

Through this transaction with Winklevoss Capital, Cypherpunk Mining immediately becomes the Zcash network's largest active fleet, currently deployed across U.S.-based facilities with industry-leading uptimes and hosting rates, accessing an addressable market valued at over $250 million per year at current ZEC prices.

Strengthening Cypherpunk's Treasury and the Zcash Network

Cypherpunk Mining now stands alongside Cypherpunk's ZEC treasury and its privacy investment strategy anchored by ZODL, the most widely used Zcash wallet. As approximately 43,800 ZEC are awarded to miners each month, mining meaningfully accelerates the company's path to its target of holding 5% of ZEC supply, at production costs that are significantly lower than spot price. 

As the largest corporate holder of ZEC, currently with 323,394.38 ZEC representing approximately 1.92% of the circulating supply, Cypherpunk's incentives are aligned with the network's. The additional mining hashrate and decentralization strengthens Zcash network security, and a more secure Zcash makes Cypherpunk's treasury more valuable. Cypherpunk intends to serve as a bridge between Zcash miners, developers, and the broader ecosystem.

Kevin Zhang Joins as Head of Mining

Kevin Zhang joins Cypherpunk as Head of Mining, bringing more than a decade of experience at the front lines of Bitcoin and Zcash. Zhang began mining Bitcoin in 2014 and Zcash in 2016, built several of the largest Bitcoin mining facilities in North America, and in 2019 led the first power plant conversion to Bitcoin mining on the continent. At Foundry, he built the largest Bitcoin mining pool in the world and deployed one of the largest crypto mining operations.

"Approximately 1,440 ZEC is awarded to miners each day, making Zcash mining highly profitable. Even if the Zcash network hashrate increases significantly, Zcash mining still out-earns AI colocation and Bitcoin mining at today's ZEC prices," said Kevin Zhang, Head of Mining at Cypherpunk. "The opportunity in Zcash mining shows a striking similarity to Bitcoin mining in 2016 and provides exciting growth potential for Cypherpunk."

Description of the Transaction

Cypherpunk and Cypherpunk Mining LLC ("Cypherpunk Mining") entered into an Asset Purchase Agreement with Moria Mining LLC and Winklevoss Treasury Investments, LLC pursuant to which Cypherpunk Mining acquired the latest generation Z15 Pro machines with an aggregate hashpower of approximately 4.2 GSol/s along with their related hosting agreements. The aggregate purchase price of $33.33 million was paid for by the issuance of a pre-funded warrant to Winklevoss Treasury Investments, LLC to purchase 43,290,042 shares of common stock of Cypherpunk at an exercise price of $0.001 per share, reflecting a Cypherpunk common stock purchase price of $0.77 per share.

About Cypherpunk

Cypherpunk Technologies is a privacy technology company. The Company's mission is to advance technologies that guarantee privacy for humans on the internet. Cypherpunk pursues this mission through two primary strategies: accumulating Zcash (ZEC); and investing in, acquiring, and building technologies that push the frontier of privacy forward. Additionally, through its subsidiary Leap Therapeutics, the Company is developing novel therapies for patients with cancer, continuing the development of sirexatamab and FL-501. For more information about the Company, visit our websites at http://www.cypherpunk.com and http://www.leaptx.com or view our public filings with the SEC that are available via EDGAR at http://www.sec.gov. 

FORWARD-LOOKING STATEMENTS

This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally can be identified by the use of words such as "anticipate," "expect," "plan," "could," "may," "will," "believe," "estimate," "forecast," "goal," "project," and other words of similar meaning. Forward-looking statements address various matters including statements relating to the Company's ZEC mining operations, the hashpower represented by the acquired Z15 Pro machines, the potential Zcash flow or profitability of the Company's mining operations, the comparative economics or profitability of Zcash mining relative to other digital infrastructure or mining activities, the future hashrate of the Zcash Network, the value of the Company's ZEC holdings, the Company's target percentage ownership of the ZEC supply, the expected future market, price, and liquidity of ZEC, the Company's expected use of Zcash flow or other capital generated by its mining operations, the potential value of the Company's investment in Zcash Open Development Labs ("ZODL"), the macro and political conditions surrounding Zcash or digital assets, the Company's plan for value creation and strategic advantages, market size and growth opportunities, regulatory conditions, competitive position and the interest of other corporations in similar business strategies, technological and market trends, and future financial condition and performance. Risks and uncertainties of the Company's strategy include, among others: (a) risks relating to the Company's operations and business, including the performance of the Company's Zcash mining machines and highly volatile nature of the price of ZEC; (b) the risk that material changes in the price of ZEC, such as decreases in price, will result in significant changes to the Company's financial statements, such as unrealized losses on fair value of ZEC holdings, and reduced net income or increased net loss; (c) the risk that material changes in the hashrate of the Zcash Network, such as increases in hashrate, will result in significant changes to the Company's financial statements, such as reduced revenue, reduced gross margins, and reduced net income or increased net loss; (d) the risk that the price of the Company's common stock may be highly correlated to the price of ZEC; (e) the risk that the Company will fail to realize the anticipated benefits of the ZEC mining operation or digital asset treasury strategy; (f) risks related to the custody of our ZEC and our reliance on Gemini Space Station and its affiliates for trading and custody services; (g) changes in business, market, financial, political and regulatory conditions; (h) risks related to increased competition in the industries in which the Company does and will operate; (i) risks relating to significant legal, commercial, regulatory and technical uncertainty regarding digital assets generally; (j) risks relating to the treatment of crypto assets for U.S. and foreign tax purposes; (k) risks related to the Company's dependence on third-party hosting facilities and service providers for its mining operations; and (l) the Company's ability to comply with the continued listing requirements of the Nasdaq Capital Market.

New risks and uncertainties may emerge from time to time, and it is not possible to predict all risks and uncertainties. No representations or warranties (expressed or implied) are made about the accuracy of any such forward-looking statements. The Company may not actually achieve the forecasts disclosed in such forward-looking statements, and you should not place undue reliance on such forward-looking statements. Such forward-looking statements are subject to a number of material risks and uncertainties including but not limited to those set forth under the caption "Risk Factors" in the Company's most recent Annual Report on Form 10-K filed with the SEC, or as may be included in other reports or information we file with the SEC, as well as discussions of potential risks, uncertainties, and other important factors in its subsequent filings with the SEC. Any forward-looking statement speaks only as of the date on which it was made. Neither the Company, nor any of its affiliates, advisors or representatives, undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date hereof.

CONTACT:
Douglas E. Onsi
President & Chief Executive Officer
Cypherpunk Technologies Inc.
617-714-0360

For Investors:
Matthew DeYoung
Investor Relations
Argot Partners
212-600-1902
[email protected]

For Media:
Jacqueline Ortiz Ramsay
It Factor Strategies
954-294-3249
[email protected]

SOURCE Cypherpunk Technologies Inc.

Neuberger teams with Securitize on multi-chain tokenized fixed-income fund launch Latest NewsPublishedAug 18, 2026

The $613 billion asset manager will subadvise a high-yield fund tokenized across Ethereum, Solana, Avalanche and Sui.

Asset manager Neuberger has launched its first tokenized fixed-income fund through Securitize, offering an actively managed high-yield strategy across four blockchains, Ethereum (ETH), Solana (SOL), Avalanche (AVAX) and Sui (SUI).

The Neuberger Securitize High Income Tokenized Fund (HINC) will invest primarily in high-yield bonds, with additional exposure to collateralized loan obligations and leveraged loans, according to an announcement Tuesday.

The launch comes as investors are demanding higher yields amid heated competition for corporate and government funding.

“The previous market regime rewarded investors for assuming that capital would remain cheap and plentiful,” Saxo chief investment strategist Charu Chanana said in a Tuesday client note. “The emerging regime may reward investors for recognising that capital has a price again.”

The new fund is available to qualified investors, with Securitize providing the infrastructure to issue and manage tokenized shares across the four blockchain networks.

Neuberger will serve as subadvisor to a tokenized fund for the first time. Its fixed-income platform manages more than $230 billion in assets, while the firm manages about $613 billion overall.

Securitize has about $4.96 billion in distributed asset value across 26 tokenized real-world assets, according to RWA.xyz data. Its products include BlackRock’s $2.7 billion BUIDL fund, a $355 million tokenized AAA CLO fund and a $95 million Apollo diversified credit fund.

The company’s shares rose around 5% in Tuesday morning trading, giving the company a market capitalization of about $838 million. Despite the gain, the stock remains down more than 50% from levels reached shortly after its public debut in July.

Securitize’s distributed asset value. Source: RWA.xyz

Magazine: ‘Fabricated rumors’ about BitMart founder, Binance bStocks dominate: Asia Express

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Fireblocks just made it a lot easier for merchants to say yes to stablecoin payments. The digital asset infrastructure company unveiled Fireblocks Flow at Money20/20 Europe in Amsterdam on June 2, a product built specifically for payment service providers and fintechs that want to accept digital assets without rebuilding their entire stack.

The centerpiece of the announcement is Flow Analytics, a real-time data layer powered by Dynamic.xyz that gives merchants granular visibility into stablecoin transactions as they happen.

What Fireblocks Flow actually does Flow collapses those steps into a single integration. Merchants can accept payments from over 800 wallets spanning EVM chains, Solana, and Bitcoin networks. Customers pay in whatever digital asset they prefer, and the merchant receives settlement in their chosen stablecoin. The conversion and routing happen under the hood.

Dynamic.xyz, a Fireblocks subsidiary, provides the underlying infrastructure. Its APIs and developer tools handle wallet connectivity, while its dashboards power the Flow Analytics layer. That analytics component delivers transaction lists, aggregated data, and real-time insights, giving payment providers the kind of operational visibility they’d expect from any mature payment rail.

Flutterwave signs on as launch partner Flutterwave, one of Africa’s most prominent payment companies, will integrate Flow’s stablecoin acceptance capabilities into its own platform.

Scale and institutional context Fireblocks has facilitated over $14 trillion in cumulative digital asset transactions across its platform.

The 800-plus wallet support is worth pausing on. Most stablecoin payment solutions force customers into a narrow set of wallets or chains. By supporting a broad range of ecosystems, Flow reduces the chance that a customer arrives at checkout with an incompatible wallet.

What this means for the payments landscape The analytics layer could prove to be Flow’s most durable competitive advantage. Real-time transaction data isn’t just a nice feature for merchants. It’s the foundation for compliance monitoring, fraud detection, and business intelligence. By embedding analytics directly into the payment flow rather than offering it as an afterthought, Fireblocks is making the case that stablecoin payments can meet the same operational standards as traditional card processing.

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

BVNK adds USDC on Arbitrum for corporate payouts@BVNKFinance now supports $USDC deposits and payouts on @Arbitrum, targeting corporate treasury and settlement workflows. The move allows companies to move funds across both fiat and digital rails, with lower latency and lower transaction fees compared with traditional cross-border banking systems.

The integration runs on BVNK's existing payments infrastructure, which processes more than $36 billion in annual volume across more than 130 countries. That scale gives the Arbitrum-based $USDC capability an immediate enterprise footing, rather than a pilot-stage rollout.

By routing regulated stablecoins like $USDC through @Arbitrum, the setup provides near-instant cross-border velocity. Arbitrum's speed, low cost, and scale make it a practical fit for the next phase of institutional finance.

Where this fits in Mastercard's broader stablecoin pushThe development sits within a wider strategic shift at Mastercard. In March 2026, Mastercard agreed to acquire BVNK for up to $1.8 billion, comprising a $1.5 billion base payment plus up to $300 million tied to performance targets. The completed acquisition expands Mastercard's strategy to support interoperability across fiat and digital currencies.

Mastercard's settlement framework supports regulated stablecoins including Circle's $USDC, with these stablecoins enabled across a range of blockchain networks including @Arbitrum, Base, Canton, Ethereum, Polygon, Solana, Tempo, and XRPL.

Traditional banking systems are restricted by weekend and holiday closures, while blockchain rails operate continuously. This allows global firms to move liquidity outside standard banking hours to prepare for operations across different time zones. Compared with $15 to $50 per wire on the originator side and 25 to 75 basis points in FX spread on cross-border legs, stablecoin transfers are an order of magnitude cheaper at most B2B volumes.

Jorn Lambert, chief product officer at Mastercard, noted that "digital currencies, particularly stablecoins, are increasingly addressing real-world needs in areas like cross-border B2B payments, remittances, payouts, settlement and treasury flows."

Sources
Mastercard completes acquisition of BVNK (Mastercard Press Release)
Mastercard expands stablecoin settlement capabilities (Mastercard Press Release)
Mastercard taps Arbitrum for global stablecoin settlement (Arbitrum Blog)

Testnet Numbers Tell the StoryActivity on @SuiNetwork's Hashi testnet has been brisk since it went live on July 22, with cumulative $BTC deposits surpassing 1.1 million and withdrawals topping 165,000 in just three weeks. The protocol now accounts for over 50% of $BTC Signet transactions over the past 14 days, with more than 25 institutional participants actively stress-testing the system.

The pace points to early appetite for bringing native bitcoin into DeFi without wrapping or bridging the asset, a model that has drawn renewed interest after repeated bridge exploits drained hundreds of millions from other chains.

How Hashi Works and Who Is Backing ItUnlike conventional wrapped-asset bridges, Hashi does not move $BTC off the Bitcoin network. Users deposit native bitcoin, Sui validators confirm the transaction, and the protocol mints hBTC, a representative token usable as programmable collateral for institutional lending and stablecoin borrowing. Deposits are secured through a 2-of-2 multisig arrangement combining Hashi's multi-party computation (MPC) validators with a separate Guardian Layer, a configurable risk-management system designed to slow or block suspicious withdrawals. Loan terms and collateral positions are recorded onchain, giving lenders direct visibility into how much bitcoin backs any given position.

More than 25 institutional partners are testing lending and credit applications on the testnet, including custody provider BitGo, trading firms Cumberland and FalconX, hardware wallet maker Ledger, infrastructure provider Blockdaemon, exchange Bullish, and Sui-native lending platforms Navi and Scallop. Wave Digital Assets has committed to a three-year plan to tokenize bitcoin-yield-bearing bonds on Sui once Hashi reaches mainnet.

On the compliance side, attorneys at Fenwick, an AmLaw 100 firm widely recognised in digital assets, concluded that locking $BTC through Hashi and receiving hBTC should not constitute a taxable event under U.S. federal income tax law, removing a key friction point for institutional adoption.

Hashi's Guardian Layer must still clear security reviews before any mainnet transition begins, and no launch date has been announced. The early testnet figures arrive at a difficult moment for the broader BTCFi sector, with layer-2 BTCFi total value locked falling roughly 74% from its 2025 highs to around 91,000 BTC by mid-2026.

Sources:
Bitcoin.com: Sui's Hashi Bridge Tops 1.1 Million Bitcoin Deposits in 3 Weeks
Sui Blog: Hashi Testnet Is Live
TechTimes: Bitcoin Collateral Reaches DeFi Without Wrapping

10h05 ▪ 5 min read ▪ by Ghiles A.

Summarize this article with:

The digital asset market is going through a more uncertain phase as companies linked to bitcoin adjust their reserves. Strategy now has $4.8 billion in cash, offering several options. Michael Saylor believes this financial cushion can support purchases, share buybacks or debt reduction. At the same time, the company also wants to be able to sell its digital assets if conditions change. This flexibility becomes central as the MSTR stock falls sharply.

In Brief Strategy has $4.8 billion in cash to enhance its financial flexibility. The company could buy back its MSTR shares if they suffer a steep discount. Strategy wants to keep enough cash to buy bitcoin, repurchase shares or reduce its debt. Michael Saylor states the company must be able to sell bitcoin as much as to buy depending on market conditions. Strategy Keeps Several Options Open With Its Cash Strategy does not prioritize buying back its own shares immediately. Michael Saylor has, however, indicated that “the company could intervene if MSTR showed a steep discount compared to its net asset value.” The stock has lost about 38% since the start of the year and 73% over twelve months. This decline notably accompanies the fall of bitcoin and regular issuances of common shares.

For now, management is focusing its efforts on preferred shares, particularly STRC. In an interview with CoinDesk, CEO Phong Le also defends the new issuances of MSTR despite dilution concerns. According to him, “This method can benefit shareholders when the price exceeds the asset value associated with each share.” Strategy can then use the raised funds to acquire more bitcoin.

The logic therefore depends on the gap between the share price and the value of the assets held. When this gap remains favorable, new issuances can increase the amount of assets associated with each share. Conversely, a steep discount could make buybacks more interesting. This approach gives the company several levers to manage its capital.

$4.8 Billion to Maintain Maneuvering Room The recent drop in STRC has also changed cash management. Phong Phong Le now emphasizes the importance of having enough liquidity to cover dividends related to STRC preferred shares. The company currently holds $4.8 billion and plans to keep substantial reserves. This position should allow it to act according to bitcoin market developments.

Michael Saylor described several uses for this cash. The company could buy bitcoin or repurchase MSTR shares or preferred shares, but also reduce its debt. This reserve is therefore not solely for funding a new bitcoin acquisition. It also constitutes a financial management tool against different market phases.

This flexibility also concerns the digital assets held by the company. Saylor believes that “strategy must be able to sell bitcoin as much as to buy.” The market price then plays a role in the pace of decisions. When the price clearly exceeds its 200-week average, the company could retain more of the raised funds.

A Strategy Tied to Bitcoin Market Cycles Conversely, a bitcoin near or below its 200-week moving average could represent a more favorable buying area. This reference thus provides a framework for future decisions without imposing a fixed timetable. Strategy, therefore, maintains an approach that depends on market levels and its financial needs. The cash provides more time to adapt this policy.

STRC follows a different logic than MSTR. This preferred share mainly aims to provide income through dividends while maintaining a price close to $100. Saylor explained the company could sell more shares above this level. It could also support the price by buybacks if it falls below this zone.

Finally, the company does not plan to acquire profitable operational companies to generate additional liquidity. Michael Saylor considers that such diversification would complicate the company’s evaluation for investors. He also recommends MSTR holders to have a horizon of at least four years, preferably seven to ten years. This vision reflects a desire to go through several market periods rather than respond to movements.

The next step will therefore depend on the evolution of the BTC price, cash reserves, and financing needs. With $4.8 billion available, Strategy keeps multiple choices, from purchases to buybacks. Its ability to sell is also integrated into this strategy, depending on the conditions observed on the market.

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Ghiles A.

Journaliste et rédacteur web passionné par l’univers des cryptomonnaies et des technologies Web3. J’y traite les dernières tendances et actualités afin de proposer un contenu de haute qualité à un large public du secteur.

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.

Short seller James Chanos described Strategy and Bitcoin as an “$80 billion actionable spread” on Aug. 18, reviving debate over the valuation of Michael Saylor’s Bitcoin treasury company.

Summary

Strategy held 840,447 bitcoin after recent sales, below the 847,363 coin peak disclosed in June. At $64,188 per Bitcoin, Strategy’s remaining holdings were worth approximately $53.95 billion on Tuesday morning. MSTR’s market capitalization was about $34.4 billion, but direct comparison ignores senior financing claims entirely. Chanos previously closed his short MSTR, long Bitcoin trade in November 2025 after spread compression. Strategy’s dashboard placed its mNAV near 1.04, indicating only a narrow enterprise value premium Tuesday. Chanos called the relationship one of the largest “pure arbitrage opportunities” he had seen. His earlier trade involved shorting Strategy’s MSTR shares while taking a long position in Bitcoin.

The latest claim requires context. Strategy no longer holds the 847,363 BTC cited in some reports. Recent company disclosures place its balance at 840,447 BTC following several sales during July and August.

At Bitcoin’s Tuesday price of approximately $64,188, those holdings were worth about $53.95 billion. MSTR had a market capitalization of roughly $34.4 billion, while its shares gained close to 5% to $97.68.

Strategy shares price chart, source: Google Finance The $19.5 billion difference between those two figures is not a direct arbitrage profit. It excludes debt, preferred stock, cash, software operations, taxes and the costs required to maintain a hedged position.

Chanos’s $80 billion figure is not a simple market gap Chanos did not publish a complete calculation showing how he reached the “$80 billion actionable spread.” The figure therefore remains his characterization of the opportunity rather than a directly verifiable difference between two market prices.

One of the greatest pure arbitrage situations, ever. An $80B actionable spread. $MSTR #Bitcoin

— James Chanos (@RealJimChanos) August 18, 2026 Strategy’s own dashboard placed its modified net asset value multiple, or mNAV, near 1.04 on Tuesday. That measure compares enterprise value with the value of its Bitcoin after accounting for parts of the capital structure.

An mNAV of 1.04 indicates a premium of approximately 4%, based on the company’s methodology. It does not show MSTR trading at the wide premium that supported Chanos’s original trade in 2025.

Comparing common equity market capitalization directly with Bitcoin holdings produces a discount because common shareholders rank behind creditors and preferred shareholders. Strategy has issued several preferred securities carrying dividend obligations and also has outstanding debt.

The company’s software operation, dollar reserve and other assets must also be included. As a result, buying MSTR does not provide the same economic exposure as holding an equivalent dollar amount of Bitcoin.

Strategy’s Bitcoin balance has declined from its peak A June 29 SEC filing showed that Strategy held 847,363 BTC at the end of June. The company had spent $64.1 billion acquiring the coins at an average price of $75,651.

Strategy subsequently sold Bitcoin under a board authorized monetization program. The program allows sales to fund its dollar reserve, interest expenses, preferred dividends and security repurchases.

As previously reported, the company sold 1,690 BTC and used the proceeds for preferred share repurchases during the week ending Aug. 9.

Those sales reduced the balance to 840,447 BTC. The remaining tokens carried an aggregate acquisition cost of approximately $63.36 billion and an average cost of $75,385 per coin.

At Tuesday’s Bitcoin price, the position was approximately $9.4 billion below its disclosed purchase cost. That is an unrealized accounting difference rather than a realized loss unless the coins are sold.

The same filing series showed that the company raised cash by issuing additional MSTR shares. Common stock issuance increases liquidity but also expands the number of shares participating in the Bitcoin exposure.

MSTR and Bitcoin carry different financial risks Direct Bitcoin ownership exposes an investor mainly to changes in Bitcoin’s market price and the security of their custody arrangement. MSTR adds corporate financing and management risks.

Strategy has issued STRC, STRF, STRD and STRK preferred shares. These securities sit ahead of common shareholders and carry dividend rates ranging from 8% to 12%, subject to their respective terms.

The company has also established a dollar reserve to meet preferred dividends and interest obligations. In related coverage, the reserve reached $4.65 billion after further common stock sales.

Strategy’s board authorized up to $1.25 billion of additional Bitcoin sales to help fund that reserve. It also approved separate $1 billion repurchase programs for preferred securities and MSTR common stock.

These layers prevent the trade from being risk free. A short seller must borrow MSTR shares, pay borrowing costs and manage the possibility that the stock rises faster than Bitcoin.

The long side also requires financing. If Bitcoin falls while MSTR rises because of short covering, new financing or changing investor demand, both parts of the trade can lose money temporarily.

Chanos previously exited after the premium contracted Chanos began constructing his earlier position in late 2024, when MSTR traded at a large premium to the value of Strategy’s Bitcoin. The premium exceeded three times the Bitcoin value at points during November 2024.

He publicly described the trade in 2025 as long Bitcoin and short MSTR. Chanos argued that investors were paying too much for Bitcoin exposure available directly or through lower cost exchange traded products.

As Reuters reported, Strategy’s market value stood around 1.74 times its Bitcoin holdings when Chanos renewed his criticism in June 2025.

The gap later narrowed. Chanos said his firm closed the hedged position on Nov. 7, 2025, after the trade gained more than 50%. He described the remaining opportunity as too small to justify keeping the position open.

His latest statement does not confirm that he has reopened the trade. It also does not disclose position size, entry prices, borrowing costs or the instruments that would be used.

Future SEC filings will show whether Strategy continues selling Bitcoin, issuing MSTR shares or repurchasing preferred securities. Those decisions, together with Bitcoin’s price and changes in financing costs, will determine whether the company trades at a premium or discount to its adjusted asset value.

XRP continues to face bearish pressure, with recent analyst commentary highlighting a potential accumulation zone as the cryptocurrency looks for direction. Institutional activity, particularly from Strive Financial Group, is bringing additional attention to XRP-linked exchange-traded funds, which could have lasting effects on the asset’s adoption narrative.

XRP price outlook and analyst predictionsAt press time, XRP is trading at $0.99. The 24-hour trading volume has reached $855 million, while the market capitalization stands at $62.68 billion. Despite signs of price stability in the last day, both XRP’s technical structure and the expansion of related ETFs could support a stronger move in the future.

Crypto analyst Crypto Patel has highlighted that the recent decline in XRP price serves as a warning echoed during the 2025 rally, when he cautioned investors as bullish momentum weakened above $3.

Following this warning, XRP experienced a steep correction, losing approximately 73% from its cycle peak and falling below $1 for the first time in nearly two years. The move below this psychological threshold has raised concerns about the underlying market structure.

Crypto Patel has identified the $0.85 to $0.65 range as a strategic accumulation point. He stated that a reversal is unlikely before another 20% to 40% decline in price, suggesting patience for long-term accumulation targets. Crypto Patel favors gradual accumulation near higher time frame demand zones instead of attempting to call the exact market bottom. His price targets remain $3, $5, $7, and $10 in future major rallies.

XRP’s drop of nearly 73% from its cycle top has brought the price below $1 for the first time in almost two years, creating substantial challenges for its market structure. The $0.85–$0.65 region could offer a meaningful accumulation opportunity, although a significant rebound may require a further pullback.

Institutional exposure to XRP ETFsData provided by BankXRP reveals that Strive Financial Group has publicly disclosed its exposure to XRP-based ETFs in an updated 13F regulatory filing. The filing lists investments in the Teucrium 2x Long Daily XRP ETF as well as the XRP ETF offered by Canary.

Strive Financial Group is a US-based asset management firm known for its engagement with alternative investment vehicles and emerging financial products.

This increased activity from Strive highlights the broader trend of institutions gaining exposure to regulated XRP products. While the 13F filing confirms holdings during the reporting period, it does not guarantee current positions or indicate a bullish stance. However, such disclosures do reflect growing interest in regulated digital asset instruments.

Industry commentators note that the presence of institutional players like Strive may help support long-term adoption, even if immediate market impact remains uncertain.

Mini dictionary: 13F filing, a quarterly report required by the US Securities and Exchange Commission for certain institutional investment managers, disclosing their equity holdings.

As investors monitor these developments, the next significant price move for XRP will likely hinge on buyers’ ability to maintain key support levels. If selling pressure dominates, XRP could see further losses. On the other hand, a reversal and subsequent breakout may set the stage for a move toward previously mentioned price targets.

Price LevelAnalyst PerspectiveMarket Cap24h Volume$0.99Current price, neutral zone$62.68 billion$855 million$0.85–$0.65Identified accumulation range––$3 / $5 / $7 / $10Long-term price targets––Market conditions and future outlookDespite optimism from institutional moves and ETF developments, XRP remains within a neutral trading range. While the broader cryptocurrency market has shown signs of improvement, analysts expect that only a firm shift in trend or a successful defense of critical support levels can prompt a sustainable rally in XRP.

Should buyer interest intensify at current levels, the cryptocurrency could consolidate and attempt higher moves. Otherwise, a lack of support could result in additional downward momentum, keeping the asset in a cautious stance.

Broader institutional interest in XRP-linked ETFs may lay the groundwork for future adoption, but a decisive turnaround in price action is necessary before a sustained rally can be expected.

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.

XRP traded slightly below $1 on Tuesday, Aug. 18, as rising whale transactions and derivatives activity failed to produce a sustained price recovery.

Summary

XRP traded near $0.996 Tuesday, losing 0.4% daily and 1.2% over seven days overall recently. Price remained below $1, leaving the former support level as immediate resistance for recovering buyers. Large XRP Ledger transactions above $1 million reportedly increased 280%, but transfer direction remains unclear. Binance open interest increased while spot price weakened, raising liquidation risks without confirming market direction. The tx bridge remains halted after attackers stole 198,715.88 XRP through faulty deposit verification software. The token changed hands near $0.996, down 0.4% over 24 hours and 1.2% over seven days, according to market data. XRP’s market capitalization stood near $62.4 billion, ranking it sixth among cryptocurrencies.

XRP traded between approximately $0.989 and $1.01 during the latest 24 hour period. It remained 9.1% lower over 30 days and about 66.7% below its level one year earlier.

The token briefly recovered above $1 on Monday after opening near $0.994. However, buyers failed to maintain the rebound, returning the price below the psychological threshold on Tuesday.

XRP price remains fragile below $1 The XRP/USDT daily chart shows a broader downtrend from the July 2025 high of $3.65. The decline has produced lower highs and pushed XRP into a narrow consolidation range around $1.

The $1 level has acted as support for much of the decline. Trading below it changes the immediate structure because recovering buyers must now reclaim the same level before challenging higher resistance.

An initial recovery would need to clear $1 to $1.05. Above that area, liquidity may sit between $1.16 and $1.18, although reaching those levels would require stronger volume and momentum.

Immediate support sits around $0.988, matching Tuesday’s intraday low. A daily close below that level would expose $0.95, followed by the wider area between $0.85 and $0.90.

The price recently steadied near $1 while large transfers to Binance declined. That reduction in exchange inflows did not produce a confirmed reversal.

Whale transactions rise without confirming accumulation Crypto analyst Ali Martinez reported that XRP Ledger transactions worth more than $1 million increased 280% within 24 hours. The total reportedly rose above 38 large transactions.

Martinez described the activity as evidence that “whales are back.” However, transaction counts alone do not establish whether large holders are buying, selling or moving tokens between wallets.

Large transactions can include exchange deposits, withdrawals, internal transfers and custody reorganizations. Identifying accumulation requires destination analysis, balance changes and exchange flow data.

The price remained below $1 during the transaction increase. That lack of an immediate price response weakens any claim that the activity was entirely driven by buying.

Separate CryptoQuant data showed that whale transfers to Binance had fallen to their lowest level since 2021. The three month average reportedly declined to approximately $61 million.

Lower exchange inflows can reduce potential selling pressure, but they do not guarantee demand. Tokens may also move through exchanges or addresses not covered by the dataset.

Exchange withdrawals and leverage send mixed signals CryptoQuant contributor Amr Taha reported that Coinbase’s seven day net wallet count fell to minus 14,300 on Aug. 17. Binance and Crypto.com also recorded more withdrawing wallets than depositing wallets.

The figures measure wallet counts rather than the amount of XRP withdrawn. One large deposit can outweigh many small withdrawals, making the indicator unsuitable as a direct measure of net token flows.

Coinbase reportedly represented 47.3% of the absolute wallet imbalance across the exchanges tracked by the analyst. That share shows where the activity was concentrated but does not reveal whether the withdrawn tokens entered self custody or another trading venue.

XRP derivatives activity also increased. CryptoQuant analysis showed Binance open interest rising about 28.6% between Aug. 3 and Aug. 17.

Open interest measures outstanding derivatives positions and does not distinguish longs from shorts. Rising leverage while the spot price remains weak can increase the size of liquidations when the market eventually breaks from its range.

In related coverage, derivatives positioning rebuilt while aggressive selling remained dominant. Funding rates, cumulative volume delta and long to short ratios remain necessary for assessing directional positioning.

Technical indicators remain bearish The Awesome Oscillator stood near minus 0.0630 on the daily chart. The negative reading shows bearish momentum remains active, although it is less extreme than during previous stages of the selloff.

The bull and bear power indicator was also negative at approximately minus 0.0377. This points to limited buying pressure and supports the current bearish consolidation structure.

XRP price chart, source: crypto.news Neither indicator confirms that XRP has reached a bottom. Momentum could improve if the price reclaims $1 and the oscillator moves toward positive territory.

Claims of targets between $15 and $17 would require gains exceeding 1,400% from the current price. Such forecasts remain speculative and are not supported by the present daily momentum readings.

The same applies to forecasts calling for a decline into the $0.65 to $0.85 range. Those levels are possible technical scenarios rather than confirmed destinations.

Bridge remains halted following verification exploit The tx project said attackers stole 198,715.88 XRP from its bridge reserve on Aug. 9. The bridge connected the tx blockchain with the XRP Ledger.

According to the project’s update, its software accepted transactions that had not delivered XRP to the correct bridge address. Relayers then approved unbacked balances that attackers redeemed for genuine XRP.

The vulnerability affected the bridge’s verification logic, not the XRP Ledger itself. The bridge remains halted while the team reviews remedies and security changes.

As crypto.news reported, the stolen XRP was converted and routed through privacy infrastructure, complicating recovery efforts. The project also filed a complaint with the FBI.

Separately, a South Korean regional bank adopted Ripple’s payments service on Aug. 18. The announcement did not say XRP would be used for those transfers, so the agreement should not be treated as direct demand for the token.

XRP must reclaim $1 on a daily closing basis to reduce immediate downside pressure. A break above $1.05 would improve the short term setup, while another rejection could return attention to $0.95 and $0.90.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

The Ethereum Foundation has warned that wallets, indexers and gas estimators could break as Glamsterdam changes the 21,000-gas assumption for some ETH transfers, with the upgrade due to activate on the Platåberget testnet on Aug. 20.

Summary

Ethereum has warned that Glamsterdam could break wallets, indexers and gas estimators that rely on fixed gas assumptions. EIP 8037 will add a separate state gas charge for operations that create new state. A basic ETH transfer to an existing account will still cost 21,000 gas, while transfers to new accounts will cost more. Developers have been urged to test their software on the Platåberget testnet before Glamsterdam moves to Sepolia and Hoodi. The Ethereum Foundation’s Protocol DevOps team said on Aug. 17 that any tool relying on a hardcoded maximum gas limit “will break,” naming wallets, indexers and gas estimators among the software likely to be affected. The team urged application and infrastructure developers to test their systems on Platåberget, a public testnet designed to stay online for several months.

Forkcast data shows Platåberget launched on Aug. 13, giving developers an early environment for Glamsterdam before the upgrade moves to Sepolia and Hoodi. The Glamsterdam fork is scheduled to activate on Platåberget on Aug. 20, according to the foundation, with public validator and builder deposits available as part of the testing process.

Glamsterdam could break hardcoded gas assumptions Under the planned gas repricing package, the foundation said software can no longer safely assume that Ethereum has a single fixed gas ceiling or that common operations will continue to cost the same amount in every case. The changes are designed around a roughly 200 million gas floor and alter the price of individual operations as well as assumptions tied to the block gas limit.

For application developers, the immediate issue is software that sets fixed boundaries when estimating transaction costs. The Protocol DevOps team said such systems need to be reviewed before Glamsterdam reaches mainnet because the repricing touches wallets, indexers and gas estimators across the network.

The warning follows June 17 Glamsterdam upgrade coverage from crypto.news, which reported that Ethereum developers were already testing the full set of planned EIPs on development networks. At the time, Ethereum Foundation developer Parithosh Jayanthi said the upgrade would change the cost of actions on Ethereum, with high-level computation becoming cheaper while state becomes more expensive.

During the same testing phase, Jayanthi said developers had made “massive progress” but noted that no fixed mainnet timeline had been set. Deployment would depend on the results of testing and whether Ethereum client teams were ready to support the new rules.

EIP-8037 changes how new state is priced A central part of the warning concerns EIP-8037, which introduces a separate state-gas dimension for operations that create new state. The foundation said creating an account, deploying code or writing a new storage slot will be metered at a fixed cost per state byte and charged at runtime.

Because of that change, a basic ETH transfer will not always carry the same gas cost. Sending ETH to an account that already exists will continue to cost 21,000 gas, with the amount broken into the base transaction cost, cold account access and the value-transfer cost. Sending funds to an address that does not yet exist will also incur a state-gas charge tied to creating the new account.

Developers should therefore revisit applications that treat 21,000 gas as sufficient for every ETH transfer, the Protocol DevOps team said. Gas estimators built around only one gas dimension may also return incorrect estimates once new state is metered separately.

EIP-8037 had already moved close to its final form by May. A May 11 protocol development report said the proposal had reached final-draft status and was being parameterised on a Glamsterdam development network. At the time, its cost-per-state-byte model was designed around limiting annual state growth to roughly 60 GiB at a 300 million gas block limit.

Under the parameters reported in May, new account creation could become roughly 8.5 times more expensive, while contract deployment costs could rise about tenfold. Separate metering for code deposits was designed to keep large contracts deployable, including code-heavy decentralised finance applications.

The state-gas model also changes where Ethereum accounts for the cost of permanent state. The foundation said account creation, new storage slots and deployed code will incur charges based on the amount of new state created, making applications that frequently add permanent data particularly important targets for testing before mainnet deployment.

Ethereum Glamsterdam upgrade also changes block production Gas repricing is only one part of Glamsterdam. The foundation said the fork also includes enshrined proposer-builder separation, or ePBS, which changes how blocks are built, proposed and validated inside Ethereum’s core protocol.

Under ePBS, the split between the block-building process and the proposer role is incorporated into the protocol, alongside a new builder API flow and payload-timeliness checks. Infrastructure tied to Ethereum’s block-production and validation pipeline should expect to be affected, according to the foundation.

With Platåberget open for public participation, the Protocol DevOps team has encouraged solo stakers, distributed validator technology projects, custom software operators and large staking providers to test their infrastructure. The testnet allows users to deposit new validators and experiment with validator and builder-deposit workflows before the same changes move to longer-lived networks.

Block-Level Access Lists form another major component of the fork. The foundation said the lists will record state locations accessed during execution and post-transaction state changes, with BAL data stored separately from the block body and exchanged between execution-layer peers through the eth/71 networking protocol.

Earlier June reporting said the access-list design gives Ethereum clients advance information about which accounts and smart-contract data a block will use. The system can allow nodes to preload required data and process transactions in parallel when transactions do not access the same state, according to Ethereum.org.

Glamsterdam will also increase size limits for deployed contracts and initialisation code. The foundation said the maximum deployed contract size will rise from 24 KiB to 64 KiB, while the maximum initcode size will increase from 48 KiB to 128 KiB. Forward-compatible consensus data structures are also included in the planned fork.

Platåberget gives developers a longer testing window Unlike the shorter development networks used during earlier Glamsterdam work, Platåberget is intended to remain available for several months. The Protocol DevOps team said the longer lifespan should give developers time to test post-Glamsterdam behaviour and identify failures before the changes reach Sepolia and Hoodi.

Its validator set is relatively small but open to public participation. For the initial testing period, the foundation has listed container images for consensus clients including Lighthouse, Lodestar, Nimbus, Prysm, Teku and Grandine, alongside execution clients including Besu, Geth, Erigon, Nethermind, Reth, NimbusEL and Ethrex. Tagged client releases remain optional while development teams prepare their own builds.

After feedback from Platåberget has been incorporated into specifications and client software, a non-finality devnet is expected to follow within the month to test difficult consensus scenarios, according to the foundation. Sepolia and Hoodi are due to receive Glamsterdam after the development networks remain stable, while Ethereum mainnet activation will follow successful upgrades on the long-lived testnets.

Development on Ethereum’s next scheduled fork is also proceeding separately. An Aug. 16 Hegotá planning report said developers were considering 66 proposals for the 2027 upgrade, although Fork Choice enforced Inclusion Lists was the only EIP formally scheduled for inclusion at the time.

Several proposals under review for Hegotá concern future gas and state pricing as Ethereum increases Layer 1 capacity. EIP-8368, for example, would recalibrate state-creation pricing if the block gas limit rises beyond the reference level used by Glamsterdam, while developers have discussed preparing Ethereum for a possible path towards a 600 million gas limit.

BNB Chain’s real-world asset holder count jumped from 400,000 to 524,000 in just three days, a growth spurt the network’s official account described as “absolute acceleration.” The 31% increase between August 14 and August 17 represents one of the sharpest short-term surges in tokenized asset adoption on any major blockchain this year.

To put that in perspective, adding 124,000 holders in 72 hours means the network was onboarding roughly 1,700 new RWA participants every hour for three straight days.

From milestone to milestone in days The latest spike didn’t come out of nowhere. BNB Chain crossed the 300,000 RWA holder threshold around August 6-8, then blew past 400,000 less than a week later. In other words, the network added more than 200,000 holders in under two weeks.

Data tracked by RWA.xyz, the primary analytics platform for tokenized real-world assets across chains, underpins these figures. The platform has been consistently monitoring BNB Chain’s RWA metrics throughout 2026.

Year-to-date, BNB Chain’s RWA holder growth rate sits at a staggering +567.4%, based on mid-May reporting. For context, a 567% increase means that for every holder the network had at the start of the year, it now has roughly 6.7.

What’s actually being tokenized The term “real-world assets” covers a broad category, and on BNB Chain, the portfolio includes tokenized treasuries, equities, and other traditional financial instruments that have been brought on-chain. BNB Chain has positioned itself as an ecosystem focused on compliant asset issuance and liquidity trading. The value locked in tokenized assets on BNB Chain reached billions of dollars in earlier quarters of 2026, establishing a foundation that the current holder growth is building on.

The broader tokenized asset market has been expanding rapidly across multiple chains, but BNB Chain’s growth rate has outpaced most competitors. That competitive edge stems partly from lower transaction costs relative to Ethereum and partly from a deliberate infrastructure push to court RWA issuers.

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

Zcash (ZEC) posted a 2.8% gain over the last 24 hours, trading near $509 on August 18 and building on a 3.4% increase for the week. This uptrend coincides with a sharp acceleration in user migration to Ironwood, the network’s new shielded pool.

Ironwood migration and vulnerability response bolster ZECRecent data from CoinGecko showed ZEC advancing from approximately $495 earlier in the day, briefly touching $520 before consolidating above $500. Zcash holders moved around $260 million in ZEC into Ironwood, which has now overtaken the previous Sapling pool in total value.

Ironwood went live on July 28 at block height 3,428,143 following the discovery of a critical vulnerability in the protocol’s Orchard shielded pool. Security researcher Taylor Hornby identified the flaw on May 29, prompting the Zcash Open Development Lab to coordinate a patch by June 2.

The vulnerability could have made it possible for a malicious actor to mint unauthorized ZEC tokens within the Orchard pool undetected. While Shielded Labs assessed the risk of exploitation as low, the inherent privacy of the pool prevented users from independently verifying that counterfeit tokens had never been issued.

Ironwood was developed to close this loophole by blocking new deposits and internal transfers in the Orchard pool. Funds can now only exit through Zcash’s established turnstile system, which caps withdrawals at the amount legitimately deposited, allowing users to independently verify ZEC’s circulating supply.

The Ironwood pool features an updated Orchard circuit, and this upgrade included further security measures such as independent audits, formal verification, and the introduction of quantum-recoverable notes under ZIP 2005.

After the announcement of the Orchard bug, ZEC experienced a sharp price drop of more than 50%. When Ironwood launched in late July, ZEC traded around $475, but recent recovery has pushed its price back above $500.

ZEC price analysisOn the daily ZEC/USDT chart, ZEC traded close to $509, with the Volume Profile indicating heavy historical trading activity in the $400 to $420 range. This area has served as a significant support level during recent swings. In late June, ZEC rebounded from about $400, surging to a July high near $570, and subsequent pullbacks have consistently held above this key zone.

The daily Supertrend indicator currently positions support at $447, meaning ZEC maintains its bullish daily structure so long as the price remains above this level. To extend gains, ZEC must clear resistance in the $516 to $520 range, after which the July resistance band from $560 to $580 may come into play.

Failure to defend the $500 threshold could see ZEC return to test $480, with further downside risk extending to the $400 to $420 high-volume area below the daily Supertrend support.

Short-term momentum mixedOn the 4-hour chart, ZEC changed hands around $509, with session VWAP at $511.59 and the upper band near $513.11. The token remains just below the VWAP, indicating buyers have not yet reclaimed control above the average session price. Short-term momentum has begun to soften following the latest upswing.

Stochastic RSI on the 4-hour timeframe showed the %K line near 77.85 and the %D line close to 87.50. The %K has slipped below the %D after both reached overbought territory, signaling a possible pullback.

ZEC would need to decisively reclaim the $511 to $513 VWAP area and break through $520 for another upward push. Sustaining these gains could target $540 and revisit resistance between $560 and $580, echoing the July advance. However, dropping below $500 would undermine the immediate bullish scenario and raise the prospects of declines toward $480 and the prominent support region below.

In a fast-moving market, where a single Fed decision or a large altcoin listing can rapidly shift sentiment, traders are seeking ways to streamline their workflow. Smart investors increasingly turn to privacy-focused tools like CryptoAppsy to consolidate charts, news, and portfolio trackers, offering real-time analytics, price alerts, and macro data—all without requiring an account.

The latest gains partly reverse last week’s retreat from above $500, positioning ZEC for another test of range resistance while market participants monitor key technical levels and the sustained impact of Ironwood’s security enhancements.

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.

Bank of America (BofA) has expanded its exposure to Bitcoin, Ethereum, XRP, and Solana through exchange-traded funds (ETFs). The Wall Street giant also trimmed its holdings in Strategy (MSTR), American Bitcoin Corp (ABTC), and other crypto stocks.

Bank of America Holds Almost $94 Million in Bitcoin, Ethereum and XRP ETFs The Wall Street giant, with a $1.55 trillion investment portfolio, has increased its investments in multiple crypto ETFs in Q2 2026, according to a 13F filing with the U.S. Securities and Exchange Commission (SEC). Bank of America holds $94 million in net exposure in Bitcoin, Ethereum, and XRP ETFs.

Bank of America raised its holdings in BlackRock Bitcoin ETF (IBIT) by 77% in the quarter. It now holds over 1.72 million IBIT shares, up from 972,590 shares earlier.

It also has investments of more than $10 million in Bitwise’s BITB, $2.24 million in Grayscale Bitcoin Mini ETF, and $1.32 million in FBTC. The bank also holds exposure to GBTC, VanEck’s HODL, and Direxion Daily Bitcoin Bull 2X ETF (BTCU).

Moreover, Bank of America (BofA) has also expanded its BlackRock Ethereum ETF (ETHA) exposure by 2,838%. It now holds 1.98 million shares in ETHA, up from 67,492 shares.

In addition, Bank of America increased its XRP ETF holdings slightly in Q2, after keeping exposure the same as in the last quarter. The Wall Street giant holds 13,260 shares of the Volatility Shares XRP ETF (XRPI).

In contrast, the bank has sold the remaining 10,296 shares of Volatility Shares Solana ETF from its investment portfolio. It has fully exited Solana ETFs after selling 700 Volatility Shares 2x Solana ETF shares last quarter.

These holdings align with broader trends as many institutions build positions in spot crypto products. Notably, JPMorgan and Morgan Stanley revealed XRP holdings via ETFs amid tradFi’s push into tokenization, treasury management, and real-time payments.

Bank Trims Strategy (MSTR) Stock Exposure Bank of America (BofA) also revealed 1.17 million MSTR stock holdings worth almost $102 million, down 70% from 3.96 million stocks. BofA trimmed MSTR exposure as the largest corporate Bitcoin treasury started selling BTC holdings to pay dividends and build cash reserves.

The Wall Street giant also sold 3,800 Strike (STRK) perpetual preferred shares. The bank even adjusted positions in Strategy convertible senior notes.

The bank sold all 85,508 shares in Trump family’s American Bitcoin Corp (ABTC), while increasing Bitmine Immersion (BMNR) stock holdings by 78% to almost $22 million. It also increased stock holdings in Hyperliquid Strategies Inc (PURR) by 167% to 635,407 shares.

Bank of America has also invested in Circle, Coinbase, and Bitcoin mining crypto companies including MARA Holdings, Riot Platforms, and CleanSpark shares.

For retail investors looking to follow Wall Street’s lead safely, utilizing fully compliant US crypto exchanges like Coinbase ensures adherence to rigorous security and domestic regulatory frameworks.

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Today, money moves faster than ever before, especially with stablecoins — digital assets designed to maintain stable value against, in most cases, a backing asset. Over roughly the past decade, stablecoins backed by US dollars (and equivalents) have taken center stage among other fiat-pegged stablecoins, benefiting from more liquidity, transaction volume, and opportunities for stress testing. Stablecoins pegged to other local currencies, like euros, in comparison have broadly experienced a slower adoption curve and shallower liquidity.

For years, users looking to transact in euro-pegged stablecoins often had to use dollar stablecoins to on/offramp or as intermediary assets when trading, accept shallower euro-denominated onchain liquidity, or rely on bridges that weren’t built for long-term trust. What’s been missing for institutions, enterprises, and builders are euro-pegged digital assets that people can actually use day to day: easy to access, widely supported, and consistently redeemable at par.

That’s what EURC is built to be. And it’s why EURC has now surpassed €400 million in circulation, a milestone for euro liquidity in the onchain economy.

Over the past year, EURC’s supply increased by more than 100%, as the market moved from experimentation to real usage across exchanges, payment flows, and institutional workflows that demand reliability and compliance. EURC is now the most widely distributed and widely used euro stablecoin, supported across major blockchains, exchanges, and payment networks. It’s also built to evolve and grow with demand for digital asset use cases — like settlement, FX, and treasury use cases — that demand compliance, auditability, and 24/7 reliability. The result is a euro-pegged stablecoin with distribution, utility, and reliability that’s gaining ground through ongoing performance as the leading euro stablecoin.

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Expanding liquidity across the ecosystemEURC launched on Ethereum in June of 2022, bringing Circle’s fully reserved stablecoin model to euro-denominated markets. Starting in 2023, EURC expanded natively across major blockchains, including Avalanche, Stellar, Solana, and Base — strategically aligning with ecosystems where liquidity and developer activity were strong.

By the end of 2024, EURC was live on five chains and had grown to approximately €80 million in circulation. That number more than doubled in the first half of 2025 and continued climbing throughout the year.

Distribution also scaled through centralized venues. EURC was listed on major exchanges including Bitpanda, Bitstamp, Bybit, Coinbase, and Kraken. This exchange support deepened liquidity for both EURC/EUR and EURC/USD trading pairs, reducing euro-to-dollar conversion friction and establishing EURC as a top-tier euro stablecoin.

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Integrating into the financial stackDistribution may drive awareness but utility drives retention. EURC’s growth accelerated as it became embedded into real financial workflows, where speed, transparency, and reliability matter. 

Multiple leading onramp and offramp providers like Mercuryo, MoonPay, Ramp, and Transak enabled users to access digital assets directly with euros. This bypassed the inefficiency of intermediary dollar conversions.

EURC also became integrated into institutional custody and settlement platforms, including Cobo, Copper, and Fireblocks. These integrations, particularly following the rollout of the Markets in Crypto-Assets (MiCA) regulation, enabled regulated firms to use EURC for treasury, settlement, and payments.

In 2024 and 2025, Visa and Mastercard both expanded their respective euro stablecoin settlement capabilities to include EURC. This unlocked real-world use cases for cross-border payments, card-linked flows, and euro-native settlement.

Together, these integrations helped translate EURC’s promise into tangible value: faster reconciliation, around-the-clock liquidity access, and programmable money infrastructure that meets enterprise requirements.

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Operating transparently EURC’s continued growth is also closely tied to rising regulatory clarity and Circle’s operational discipline.

In December of 2024, MiCA became fully applicable across the EU, establishing requirements for euro stablecoins around reserve backing, governance, disclosures, and redemption rights. MiCA didn’t necessarily create inherent demand for euro stablecoins, but it cleared the path for serious institutional and enterprise adoption.

Circle designed EURC to operate as an e-money token (EMT) under MiCA — issued by Circle’s e-money institution in France, supervised by the ACPR, and held to a full-reserve standard. Reserve assets are fully segregated from Circle’s corporate funds and attested monthly by independent third parties. Since launch, authorized users with Circle Mint accounts have maintained the ability to redeem EURC 1:1 for euros directly via Circle Mint, while others can do so on secondary markets like crypto exchanges. This combination of regulatory alignment and operational transparency helped unlock institutional confidence in 2025, shifting EURC from a promising product to a trusted tool.

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EURC in context: A category taking shapeStablecoins have become a core component of the onchain economy, with total global supply approximately $300 billion as of January 1, 2026. While dollar stablecoins continue to dominate in absolute terms, euro stablecoins are now the second-largest segment. The euro stablecoin market grew from approximately €400 million as of June 1, 2025 to roughly €650 million by June 1, 2026. Within this growing category, EURC remained the leading euro-denominated stablecoin — playing a key role in euro stablecoin circulation, infrastructure support, and regulatory readiness. 

EURC’s market share reflects years of groundwork: multichain expansion, deep exchange liquidity, and close alignment with institutional and policy expectations.

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The opportunity is still massive Despite this momentum, the addressable market remains largely untapped. Euro-area M2 supply exceeded €16 trillion as of late 2025, while euro stablecoins represent just a fraction of a percent.

The structural advantages of stablecoins (e.g., real-time settlement, programmability, and lower operational friction) map directly to financial use cases already core to European commerce. As infrastructure matures and regulation provides guardrails, the path is clearing for broader enterprise and institutional participation.

Learn more about EURC and how to build with euro-denominated programmable money on Circle’s EURC page.

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EURC is issued by regulated affiliates of Circle. See Circle’s list of regulatory authorizations.

Two organizations deeply embedded in the Hyperliquid ecosystem have told the SEC to ditch a 20-year-old equity trading rule and start thinking about what “best execution” actually means when trades settle on a blockchain instead of the NYSE.

The Hyperliquid Policy Center (HPC) and Douro Labs submitted a joint comment letter on August 17 backing the SEC’s June 11 proposal to rescind Rule 611 of Regulation NMS. The rule, originally adopted in 2005, requires trading venues to route orders to whichever exchange displays the best price, a concept known as the “trade-through” rule. Both organizations argue the rule is a relic of an era when stock exchanges were the only game in town.

What Rule 611 does and why crypto wants it gone Rule 611 was designed to protect investors by ensuring their orders got the National Best Bid and Offer (NBBO) price across all registered exchanges. In practice, it means a broker can’t execute your trade at a worse price if a better one exists somewhere else in the system. Onchain markets don’t operate like centralized exchanges. There’s no consolidated quote system, no closing bell, and no neat hierarchy of registered venues. Trading happens 24/7 across permissionless protocols where liquidity can appear and vanish within a single block.

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The SEC itself acknowledged in its June proposal that the trade-through rule “complicates execution and increases costs.” The proposal would also impact related provisions governing locked and crossed market prohibitions under Regulation NMS.

Best execution, but make it onchain Repealing Rule 611 is only half of what HPC and Douro Labs are asking for. The other half is principles-based best-execution guidance designed specifically for onchain markets. Onchain trading introduces complications that didn’t exist when those rules were written. Network fees (gas costs) eat into execution quality. Maximal extractable value, or MEV, lets validators and sophisticated actors reorder transactions to profit at a trader’s expense. And because many decentralized venues don’t display conventional quotes, there’s no obvious benchmark to measure “best” against.

Douro Labs, which is closely associated with the Pyth Network oracle, previously submitted comments to the SEC on February 20, proposing that execution certainty, privacy, and total costs should all factor into the assessment of best execution. The joint letter extends that thinking, suggesting that independent, transparent pricing feeds could replace conventional market quotes as the relevant benchmark for onchain venues.

Who’s behind the push HPC launched on February 18 in Washington, D.C., funded by a $28 million donation in HYPE tokens. Its stated mission is to influence regulatory frameworks for decentralized markets, with a particular focus on onchain perpetual derivatives, the product category where Hyperliquid has built its reputation.

Douro Labs brings a complementary angle. As the team behind the Pyth Network, it has a direct interest in how regulators treat onchain data feeds. If the SEC eventually requires some form of best-execution reporting for decentralized venues, the infrastructure that provides those reference prices becomes critical plumbing, not unlike the role that SIP (Securities Information Processor) feeds play in traditional equities today.

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

New data from Galaxy Research shows that $115 million in bitcoin has been lost in the Coldcard theft. 

Writing on X Sunday, Galaxy Research said that it had spoken with over 200 victims to support them and gather intelligence on the attackers. 

The figures are based on the price of bitcoin at the time of the attack. 

Coldcard losses have exceeded $115M (based on the price when coins were stolen)

Galaxy Research has spoken with 200+ victims to support them and gather intelligence on the attackers

This thread contains additional charts and info 👇 pic.twitter.com/H2K141mugF

— Galaxy Research (@glxyresearch) August 16, 2026 Hackers started taking bitcoin stored using Coinkite’s popular Coldcard hardware wallet on July 31. 

Canadian company Coinkite said that a firmware bug in Coldcard Mk3 devices — starting with version 4.0.1 in March 2021 — caused seed generation to fall back to a weak software Pseudorandom Number Generator instead of the hardware true random number generator, allowing hackers to essentially guess investor seedphrases. 

The number has slowly risen as the criminals have targeted more recent devices while Coinkite and other Bitcoiners have urged Coldcard users to immediately move their funds. 

Galaxy Research last week said that it estimates at least 15 separate attackers were exploiting the bug independently. 

Previous research from Galaxy found that the typical stolen coin had sat untouched for 3.5 years, and a striking 88% of pilfered funds were at least a year old. 

The firm is still confirming how much is stolen, and has said that total losses could exceed $130 million. 

Since the attack, cautious investors have been moving their coins to other storage solutions — including exchanges.

Coinkite said in a statement this week that the bug in its software “silently went unnoticed” and “its potential impact grew with every release” of its products. 

Days after the first hack, the company urged investors to update their software or move their funds off the popular hardware wallet. 

Mathew Di Salvo

Mathew is a reporter who's covered the space since 2019, reporting on everything from Salvadoran president Nayib Bukele's Bitcoin bet to crypto exchange FTX's bankruptcy.

Embodied AI Meets Decentralized LiquidityRavn Robotics has officially launched its $RAVN token on @Ripple's $XRP Ledger, bringing a new category of real-world asset to the network: embodied AI software built for autonomous machines. The company's focus sits squarely at the intelligence layer,

The $RAVN token is structured as more than a standard utility instrument. meaning holders gain exposure to the company's performance through a blockchain-native format rather than conventional equity channels. The launch integrates AI-driven perception and real-time coordination capabilities for autonomous drones and unmanned systems directly into the $XRP ecosystem.

A Growing Ledger for Real-World AssetsThe Ravn launch arrives as the XRP Ledger cements its position as a leading venue for tokenized real-world assets. Institutional momentum has been building steadily, with

On the infrastructure side, Ripple has also been expanding its builder ecosystem:

Ravn Robotics represents a less conventional entry into this space, pairing the physical-world utility of autonomous systems with on-chain liquidity. Whether the model gains traction will depend on how the market values tokenized access to an early-stage robotics and AI company. But the launch signals a broadening of the asset types finding a home on the XRP Ledger, well beyond traditional finance.

Sources
Dexlocate: RAVN XRP Token Overview
24/7 Wall St.: XRP Ledger Tokenizes $3 Billion in Real-World Assets
Ripple: Supporting Innovation on the XRP Ledger in 2026

The supply of Ethereum [ETH] was reduced when a whale removed 5,300 ETH valued at $9.98 million from Kraken. The transaction prolonged the accumulation activity of the wallet while shifting another large ETH position off an exchange.

Historically, such withdrawals decrease ready exchange balances whenever holders keep their assets out of trading platforms. Notably, the 9.98 million transfer was consistent with a larger demand signal and not a single transfer. 

However, the withdrawals alone did not ensure an immediate price reaction since the accumulated ETH might be inactive over a long period of time. 

Spot buyers reinforce the demand argument Spot Taker CVD had turned buyer-dominant after spending some time in the neutral territory throughout the three-month period, further strengthening Ethereum’s accumulation narrative. Buyer dominance meant that takers had crossed the spread more aggressively to buy ETH than sellers had to leave.

Importantly, this activity was complementary to the whale withdrawal since both measures were directed towards demand, rather than exchange-side distribution. 

Exchange withdrawals usually limit tradable holdings, as aggressive purchases by takers compete with liquidity already available in the spot markets. Therefore, continued buyer dominance could amplify the effect of shrinking accessible supply during stronger trading periods. 

However, the market still needed sufficient demand to take in sellers close to established resistance. Prolonged taker control would definitely enhance the likelihood of accumulation translating into significant price growth.

Source: CryptoQuant Record staking constrains the ETH supply  Ethereum’s staking total climbed beyond 41 million ETH, reaching a record while absorbing more than one-third of Ethereum’s circulating supply. The staking data placed the share of staked ETH around 33.8%, following a persistent climb throughout July.

In contrast to normal wallet accumulation, staking directly pledged large amounts of holdings towards network participation as opposed to direct market trading. Therefore, the staking surge introduced structural weight to the supply terms produced by huge withdrawals of exchanges. 

Meanwhile, whale accumulation added another source of reduced exchange accessibility. These forces did not necessarily lead to an increase in prices, as the demand still dictated the impact of scarcity on valuation. 

Source: ValidatorQueue Will buyers finally break Ethereum above 1,950? At the time of analysis, Ethereum [ETH] was trading at approximately $1,901 following several attempts to consolidate in the 1,850-1,950 range.

Price was close to the upper half of the range, with buyers being closer to resistance than the bottom. Notably, +DI reached 25.18, exceeding the 16.54 -DI reading and giving buyers the directional advantage as of writing. 

However, ADX was close to 18.50, which means that directional strength was not strong enough to have a convincing trend expansion. Besides, RSI provided another positive indication at 54.59, which is above its 52.79 average and neutral zone.

Ultimately, the underlying supply dynamics are increasingly having an impact on this technical structure. The fact that whales are pulling out of exchanges and adding to staking contracts indicates a constrained circulating supply. 

The condition may increase upside moves in case demand remains strong. In a case where this supply squeeze is coupled with a confirmed breakout above 1,950, price discovery may occur at a faster pace than the current momentum readings suggest.

Eventually, the likelihood of Ethereum challenging the 2,100-2,200 area will increase. On the other hand, should whale distribution return or inflows revert to exchanges, the increased supply may limit upside efforts and support the current range, postponing any significant breakout.

Source: TradingView Final Summary Whale withdrawals and record staking continue reducing ETH available across the liquid market. Buyer-dominant taker activity could strengthen ETH’s chances of breaking above $1,950.

Stellar RWA Value Hits All-Time HighReal-world asset (RWA) value on the Stellar (@StellarOrg) network reached $3.22 billion, according to rwa.xyz tracking data, marking the highest level ever recorded on the platform. The figure represents an 8.4% gain over the prior 30 days, continuing a run that has seen the network hit three separate billion-dollar milestones in a single calendar year.

@Spiko_finance leads all platforms on the network at $1.5 billion in tokenized assets. It is followed by Franklin Templeton (@FTDA_US), @Ondo, and Realiz.

Stablecoin Growth Outpaces RWA MetricsWhile RWA figures hit a new record, stablecoin activity on Stellar is expanding even faster. Stablecoin market cap rose 57.6% to $503.5 million over the same 30-day window, and monthly transfer volume climbed 21.7% to $6.6 billion.

RWA transfer activity cooled compared to the prior month, even as the number of holders approached 19,000, pointing to a broadening holder base even as short-term transaction volumes moderated.

Sources:
Stellar Development Foundation: Q2 2026 Network Report
Crypto Briefing: Stellar Network RWA Market Cap Surpasses $3B
Sentora Research: Stellar, The Blockchain Wall Street Was Quietly Waiting For

3 min read

Compound Finance has placed a $52 million bet and leadership renewal on its pivot to institutional DeFi. (Miguel Parera/Unsplash)Summary

Compound Finance overhauled its leadership and approved a record $52 million budget as it seeks to revive growth after its total value locked fell to $1.2 billion from a $12 billion peak in 2021.The protocol is pivoting toward institutional clients by developing real-world asset offerings, partner integrations and credit infrastructure designed to meet traditional finance compliance and technical standards.Industry executives say the new leadership team and sizable budget align with a broader shift in DeFi toward serving financial institutions, after the sector’s overall assets declined amid market weakness and security exploits.Compound Finance, one of the oldest decentralized finance (DeFi) lending protocols, replaced its leadership team and approved a $52 million budget on Monday to attract new capital after the value of assets locked on the platform tumbled to $1.2 billion from a peak of $12 billion in September 2021.

The company said it will now focus on attracting institutional users and will offer real-world assets, partner integration and credit infrastructure for traditional financial markets.

Compound pioneered decentralized lending when it started up in 2018, popularizing the concept of earning yield on crypto deposits without intermediaries. It said it has processed roughly $480 billion in deposits and borrowing volume since its inception. Over the past few years, it has lost ground to competitors such as Aave, which holds more than 11 times its TVL with $14.8 billion, DeFiLlama data shows.

As an industry, DeFi is operating from a weakened base. TVL across the sector has fallen by more than a third since the start of the year to roughly $70 billion, driven by a broad correction in the crypto market, compressed yields and a run of protocol exploits, including the $292 million KelpDAO hack in April. Still, the sector is forecast to reach $2.7 trillion by 2030, with tokenized real-world assets (RWAs) among the fastest-growing segments, according to a Standard Chartered projection.

"Now is a great time for initiatives like these, where real capital goes toward both the structural work and the bringing in of bright minds from the institutional sphere who can explain it to a risk committee in their own language,” said Gal Stern, chief business development officer at deBridge, over Telegram. “That combination is what brings institutional confidence back."

The new team includes Chief Operating Officer Christopher Donovan, who previously held the same role at the Near Foundation. Steven Liu, who scaled Maple Finance from $500 million to $5 billion in assets, joins as chief product officer and the former CEO of Coinbase Custody, Aaron Schnarch, becomes an executive director. Other appointees join from Anchorage Digital, HSBC, Broadridge Financial and Maple Finance, the company said.

"DeFi is a remarkable innovation; however, it has achieved limited institutional adoption," Schnarch said in a statement. "Current product offerings fall short of meeting the traditional finance bar, especially as it pertains to compliance and technical requirements."

The move is a logical response to the shift in DeFi's user base, according to Ran Hammer, chief business officer at Orbs.

"Retail participation is a fraction of what it was, and the chain has quietly become a venue for settlement, execution and interaction between financial institutions," Hammer said. “Since DeFi summer, the space has turned into something completely different, essentially a new financial layer for institutions. So bringing in leadership that speaks that language is exactly the right direction."

The size of the allocated budget, the largest approved by Compound's decentralized autonomous organization (DAO), may help underline its commitment.

"The $52 million and a bench with that much institutional experience is a serious move, and it should improve its execution," said Himanshu Sahay, co-founder and chief technology officer of crypto lending firm Arch Lending, but institutions will want more than credentials. They "aren't underwriting teams, they’re underwriting structures."

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