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Casa CEO Nick Neuman pointed to onchain data from the recent Coldcard firmware exploit as evidence that self-custody strengthens Bitcoin’s resilience as an asset class.

In an X post on Aug. 9, Neuman cited figures showing that in the days after the Coldcard hack, where approximately 2.1k BTC was stolen, 22k BTC moved to exchanges and 233k BTC left long-term holder wallets in on-chain transactions, according to data by Checkonchain. “The onchain metrics around the Coldcard incident reinforce how important self-custody is to the resilience of Bitcoin as an asset class,” Neuman wrote.

DATA BY CHECKONCHAIN Galaxy Research has tracked confirmed losses from the Coldcard entropy flaw as low as 1.7k, ranging to more than 2k BTC. The stolen coins are tracked across multiple attack waves beginning July 30, with higher estimates approaching $130 million. The vulnerability stemmed from a March 2021 firmware issue that weakened seed generation on certain Coldcard models.

Neuman said Casa’s own customer conversations indicated that some of the 233k BTC movement reflected holders shifting from non-Coldcard single-key setups (such as Ledger or Trezor) into multisig wallets after reassessing single-key risk. Other flows involved multisig users removing Coldcard devices from their keysets.

“So somewhere between ~10x-100x the amount of bitcoin stolen was moved to safety as people sounded the alarm,” he wrote. “This is a giant flashing neon sign showcasing the resilience that self-custody adds to the network.”

Neuman contrasted the outcome with a hypothetical centralized custodian breach. In that scenario, he argued, the numbers would likely reverse: limited funds might escape while the majority would be lost in a single event. With self-custody, attackers had to target individual wallets, limiting the scale of any single success and giving holders time to react.

“If all that BTC was held at a custodian and the custodian was hacked instead, those numbers would have been flipped,” Neuman stated. “As it was, the thieves had to crack one wallet at a time (and are still going), earning a little BTC each wallet, instead of cracking one wallet and getting a massive payday.”

He concluded that self-custody benefits not only individual holders but the Bitcoin network itself by distributing risk and preserving confidence.

Casa, founded in 2018, provides multi-signature vault solutions aimed at higher-value holders and institutions seeking practical self-custody. Bitcoin Magazine has previously covered the company’s multisig products and Neuman’s views on sovereignty and institutional adoption.

The Coldcard incident has prompted renewed discussion across the industry about single-signature hardware wallets, key generation practices, and the relative merits of multisig and emerging covenant-based vault designs. Onchain data cited by Neuman suggests that, whatever the technical shortcomings of specific devices, the ability of holders to move funds independently limited the systemic impact.

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Investors pulled $145 million from U.S. spot Bitcoin ETFs on Aug. 10, the largest single-day redemption in over a week, according to data tracked by SoSoValue and highlighted in the original report. Spot Ether ETFs also bled $14.59 million, extending a pattern of tepid demand for Ethereum-based fund products. But the headline numbers masked a telling fissure: Grayscale’s mini trusts, which offer the same underlying exposure at a sharply lower fee, registered notable inflows, with the Bitcoin Mini Trust pulling in $37.06 million and the Ethereum Mini Trust attracting $8.59 million.

The divergence points to a market increasingly discriminating about cost. The Grayscale Bitcoin Trust (GBTC) and its larger Ethereum counterpart have long struggled with outflows as early investors exit and competitors undercut them on management fees. The mini versions, introduced this year, are designed to recapture those dollars by matching fee structures of leading rivals like BlackRock’s IBIT and Fidelity’s FBTC. Monday’s data suggests that strategy is working, at least in relative terms, even as the broader ETF complex faces headwinds.

The Mini Trust Divergence Grayscale’s mini trusts, which trade under tickers BTC and ETH, are physically backed and carry expense ratios of just 0.15%—a fraction of GBTC’s 1.5% fee. When spot Bitcoin ETFs launched in January 2024, GBTC hemorrhaged billions as traders arbitraged the discount to NAV and rotated into cheaper products. That exodus has slowed, but last week’s net outflows show that the product still leaks capital. By contrast, the Bitcoin Mini Trust has steadily grown, and Monday’s $37 million intake was its best day since early July. The gap between the two vehicles reflects the fee sensitivity of both retail and institutional allocators.

Cost is not the only variable. Liquidity, spread, and custody considerations matter, but the fee line is the first filter many investors apply. As the mini trusts gain scale, they could cannibalize GBTC further, forcing a deeper restructuring of Grayscale’s product suite. The question is whether the mini trust inflows represent new money or simply a migration from the older, pricier wrapper.

Ether ETF Demand Remains Soft Ether ETFs fared worse, with the entire category posting $14.59 million in net redemptions. Unlike Bitcoin funds, which have attracted net positive flows over the past month, Ether ETFs have yet to demonstrate durable demand. Since their July launch, spot Ether funds have struggled to convert curiosity into committed capital. Part of the problem is the lack of staking yield: holding ETH through an ETF means forgoing the staking rewards that native holders earn, a drag that becomes more pronounced as on-chain staking rates rise.

The Ethereum Mini Trust’s $8.59 million inflow, though small, suggests that cost-conscious investors are the ones testing the waters, not large-scale institutional whales. Without a staking component, the value proposition for Ether ETFs remains incomplete. Until issuers find a way to incorporate staking returns within a regulated vehicle—something the SEC has so far blocked—these funds will likely trail their Bitcoin counterparts in asset gathering.

Fee Wars Reshape the ETF Landscape The crypto ETF market has evolved into a race to the bottom on cost. With 11 spot Bitcoin ETFs now trading in the U.S., issuers have slashed fees to near zero to differentiate. BlackRock’s IBIT and Fidelity’s FBTC, both waiving fees for initial periods, have dominated flows. Grayscale’s mini products are its defensive response, and the numbers indicate they are clawing back share. Still, Monday’s outflows from the broader group highlight that cost alone cannot shield funds from sentiment-driven redemptions. When Bitcoin’s price wavers or risk appetite contracts, even the cheapest wrapper will see money leave.

Institutional capital is, however, finding other on-chain products. A recent weekly tokenization roundup noted that real-world asset (RWA) markets crossed $20 billion on-chain, with institutions opting for tokenized Treasuries and private credit over volatile crypto funds. This suggests that the same allocators who pulled from Bitcoin ETFs on Monday may be parking capital in yield-generating instruments that feel less speculative. The ETF flows, in that light, look less like a rejection of crypto and more like a rotation within digital asset strategies.

What remains unclear is whether the Grayscale mini trusts can maintain their momentum once the initial fee advantage narrows. As more issuers introduce similar low-cost products, the mini trusts’ edge will erode. Additionally, regulatory uncertainty—something that continues to hang over the sector following a last-minute push by banks to derail a landmark crypto bill—keeps institutional investors cautious. The Senate vote on that bill, covered in a separate report on bank lobbying, could reset the risk calculus for digital asset funds. Until then, flows may remain erratic.

For now, the takeaway is one of fragmentation. The days when one Bitcoin ETF product could dominate are over. Investors are parsing fees, liquidity, and redemption mechanics like never before, and capital flows are reflecting those calculations. The mini trusts may not reverse the overall trend, but they are carving out a growing niche—proof that in an increasingly crowded field, even single-digit basis points can redirect millions.

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With over five years of experience in crypto, blockchain, and tech content, Ishtiyaq makes complex topics easy to understand. He simplifies blockchain and digital currency concepts for a wide audience, ensuring that beginners and experts alike can grasp key ideas. His clear and engaging writing helps readers stay informed about the latest trends, developments, and innovations in the crypto space. Whether explaining blockchain technology, digital assets, or DeFi, Ishtiyaq breaks down complicated ideas into simple, digestible content. His goal is to help people navigate the fast-changing world of cryptocurrency with confidence, clarity, and a deeper understanding.

Cardano founder Charles Hoskinson identified RealFi as the ecosystem’s strongest candidate to help push Cardano’s total value locked (TVL) to $1 billion within the next 12 months.

Hoskinson made the bullish projection during a recent Ask Me Anything (AMA) session while discussing RealFi’s potential. According to the Cardano founder, the project could attract substantial new capital to Cardano’s decentralized finance (DeFi) ecosystem by connecting blockchain-based finance with real-world economic activity.

Hoskinson Identifies RealFi as Cardano’s Best Path to $1B TVL During the AMA, Hoskinson described RealFi as the Cardano ecosystem’s most promising product for reaching the ambitious $1 billion TVL milestone.

He pointed to the project’s structure and focus on real-world financial applications as key advantages. In his view, these characteristics could give RealFi a stronger opportunity to attract significant liquidity than other products currently being developed across the Cardano ecosystem.

Moreover, Hoskinson described RealFi as the “bank the unbanked” component of Cardano’s broader vision. The project seeks to connect DeFi with real economic activity, potentially giving users in underserved markets greater access to financial services.

Nonetheless, Hoskinson acknowledged that RealFi still has considerable work ahead. The project must complete several development stages, make necessary adjustments, and implement further technological improvements before it can reach its full potential.

Cardano Faces a Significant TVL Gap Hoskinson’s $1 billion projection appears particularly ambitious when compared with Cardano’s current TVL.

Cardano’s DeFi ecosystem currently holds $67.9 million in TVL, according to data from DeFiLlama. That represents only a small portion of the $1 billion target. Furthermore, Cardano’s TVL has declined by about 2.72% over the past 24 hours. 

The gap becomes even more evident when Cardano is compared with other major blockchain networks. Ethereum currently leads with approximately $41.24 billion in TVL, while BNB Smart Chain, Solana, and Tron hold roughly $4.93 billion, $4.83 billion, and $4.79 billion, respectively.

Consequently, Cardano would need to increase its current TVL by approximately 1,372% to reach $1 billion.

Cardano TVL RealFi Builds Momentum Through Testnet Although RealFi is yet to launch on Cardano’s mainnet, the project has already begun generating activity through its testnet.

On August 5, RealFi marked one month since the launch of Phase 1 of its testnet and highlighted strong participation from its Pioneer community. The project reported that more than 3,000 wallets had become active since launch, while users had completed over 36,000 on-chain actions.

Additionally, more than 1,200 users had completed the full quest line, which includes activities such as swapping, staking, unstaking, and claiming. Meanwhile, RealFi’s Discord community had grown to approximately 930 members. 

The testnet allows participants to experiment with test USDr and RealFi’s efficiency layer. As a result, users can explore how diversified direct lending backed by real economic activity could improve capital efficiency.

In the meantime, RealFi remains in its testing phase, with its mainnet launch expected later this year. Therefore, the project’s development progress could play a significant role in determining whether Hoskinson’s $1 billion TVL thesis becomes achievable. 

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

Tether-backed Bitcoin-focused company Twenty One Capital has reported a $413.5 million net loss for the second quarter of 2026 after Bitcoin’s decline reduced the value of its holdings.

Summary

Twenty One Capital lost $413.5 million during the second quarter of 2026. A $401.5 million Bitcoin valuation loss accounted for most of the quarterly deficit. CEO Raphael Zagury plans to add acquisitions, capital markets services, and Bitcoin-backed loans. The NYSE-listed company gives U.S. investors stock-based exposure to a large corporate Bitcoin reserve. Bitcoin losses have dominated Twenty One Capital’s results According to Twenty One Capital’s second-quarter financial report, a $401.5 million decline in the value of its Bitcoin holdings accounted for most of the company’s quarterly loss.

Twenty One Capital’s latest loss has shown how strongly its financial statements depend on Bitcoin’s price at the end of each reporting period. Because the company holds the cryptocurrency as its main asset, changes in Bitcoin’s fair value pass through its reported earnings even when it does not sell the coins.

The $401.5 million reduction tied to Bitcoin represented about 97% of the total second-quarter loss. Remaining expenses accounted for roughly $12 million, based on the two figures in the report, although the source did not provide a complete breakdown of those costs.

A similar effect appeared in the company’s first-quarter accounts. Twenty One Capital reported an $859.7 million net loss for the three months ended March 31, according to its SEC quarterly filing. An $847.8 million decline in the fair value of its Bitcoin holdings caused most of that loss.

As of March 31, Twenty One held 43,514 BTC with a reported fair value of $2.95 billion, down from $3.80 billion at the end of 2025. Its cost basis for the holdings stood at about $3.69 billion, while the price used to value each coin fell from $87,316 on Dec. 31 to $67,832 on March 31.

Combined, the first two quarters have produced reported net losses of about $1.27 billion. Nearly $1.25 billion of that amount came from the lower accounting value of the company’s Bitcoin, based on the first-quarter filing and the second-quarter figures.

Such fair-value losses do not necessarily represent cash leaving the business. The first-quarter filing shows that Twenty One sold one Bitcoin and recorded a $3,180 gain on that disposal, while the much larger loss came from revaluing the coins it continued to own. Bitcoin’s closing price in later reporting periods can reverse part of a previous loss or create another expense under the same accounting treatment.

Twenty One Capital plans businesses beyond its treasury New CEO Raphael Zagury has said Twenty One cannot rely only on holding Bitcoin and must develop businesses capable of producing cash flow. His plan centers on buying operating companies, using debt and equity markets to raise capital, and offering loans secured by Bitcoin.

Zagury took over from Strike founder Jack Mallers on July 20, according to the company’s leadership announcement. Mallers stepped down to concentrate on Strike but remained involved in the leadership handover.

“Twenty One holds one of the largest Bitcoin balance sheets in the public markets,” Zagury said in the announcement.

“My job is to build the operating company around it, with the discipline, governance, and executional rigor of an institution.”

The company identified five strategic priorities when Zagury became CEO. In addition to acquisitions and Bitcoin financial services, management plans to develop its capital markets operation, manage its Bitcoin reserves through debt and equity transactions, and keep a holding-company structure for acquired businesses.

Zagury has experience across both traditional finance and Bitcoin infrastructure. Before taking the top job, he served as a Twenty One director and interim audit committee chair. His earlier roles included positions at Goldman Sachs, Deutsche Bank, and Merrill Lynch, while he also helped lead Bitcoin mining and infrastructure company Elektron Energy.

In May, Twenty One said it was considering a combination with Strike and Elektron that would have joined payments, mining, treasury management, and financial services. The company later removed Strike from consideration after Mallers left the CEO position, leaving the payments business as an independent company.

Tether has tightened control of the Bitcoin company Twenty One began with support from Tether, Bitfinex, SoftBank, and Cantor Equity Partners. Its 2025 launch plan valued the business at $3.6 billion and called for more than 42,000 BTC, alongside capital raised through convertible notes and a private investment in public equity.

Tether later acquired SoftBank’s full interest in the company, crypto.news reported in May. The transaction removed a large outside shareholder and increased Tether’s influence over the listed company.

The original structure had included Bitcoin contributions from Tether, Bitfinex and SoftBank. A separate financing package consisted of convertible senior secured notes and common equity, with the proceeds allocated mainly to additional Bitcoin purchases and corporate expenses.

By the time Twenty One entered the public market in December 2025, its treasury had grown to more than 43,500 BTC. Earlier coverage of its debut noted that falling Bitcoin prices were already putting pressure on the stock and other digital-asset treasury companies.

Investors were also questioning whether Twenty One could develop enough operating revenue to distinguish its shares from direct Bitcoin holdings or spot exchange-traded funds. At the time, the company employed four full-time workers and had not provided a product-launch schedule.

Under Zagury, management has placed more attention on acquiring businesses and generating income rather than measuring performance only by the size of the Bitcoin reserve. Twenty One still uses Bitcoin per share, expressed in satoshis, as one of its internal performance measures.

The company’s first-quarter filing showed 12,557 satoshis per Class A share at both Dec. 31 and March 31. Twenty One had 346.5 million Class A shares outstanding at the end of the quarter, while its Bitcoin balance fell by one coin.

U.S. investors face Bitcoin and company-specific risks Twenty One trades on the New York Stock Exchange under the ticker XXI, giving U.S. investors access to its Bitcoin holdings through a regulated public stock. That exposure also includes corporate expenses, debt, management decisions, and share issuance, which do not apply when an investor holds Bitcoin directly.

The shares were trading near $4.59 on Aug. 11, while Bitcoin changed hands around $63,802. Because XXI represents an operating company rather than a spot Bitcoin ETF, its stock price can trade above or below the value of the Bitcoin attributable to each share.

Twenty One has also used Bitcoin to support its financing. Its first-quarter SEC report listed about $484.4 million of convertible notes and said 16,116 BTC served as collateral for them. Management stated that the pledged coins could not be treated as an available source of liquidity while they remained tied to the notes.

At the end of March, the company held $114.1 million in cash and $117.9 million in net working capital. Management said those resources were sufficient to fund operations for at least one year from the filing date and did not expect to sell Bitcoin during that period to meet ordinary liquidity needs.

A governance issue emerged after SoftBank’s representatives left the board following Tether’s purchase. As crypto.news covered in June, the NYSE warned Twenty One that its audit committee no longer met the exchange’s independence rules.

The exchange gave the company until June 5 to appoint a qualified independent audit committee member before attaching a below-compliance indicator to its listing. Twenty One appointed an independent director on June 8, according to its investor-relations records.

The impact of growing balance for the TRON [TRX] stablecoin market is increasing as larger balances are now converting into a greater number of network uses.

According to the Q2 report by Messari, stablecoin supply expanded by 4.1% to $89.2 billion. Of this total, over 98% was held in Tether [USDT].

This level of liquidity supported over $2.1 trillion in USDT transfers, and daily trading volumes rebounded by 4.3% to $22.8 billion. Thus, users are not just accumulating more stablecoins. Instead, they are using TRON increasingly as a settlement platform.

Source: TRON on X The effect spread across the network, as daily transactions rose 8.7% to 11.8 million and active addresses increased 11.7% to 3.6 million. Greater usage then drove fees up 15.9% to $699.4 million, generating stronger revenue streams alongside greater adoption.

Source: Messari Stablecoin supply reached roughly $91.8 billion by early August, showing that growth continued beyond Q2. With balances, transfers, and fees rising together, TRON is gaining deeper economic activity rather than supply growth alone.

However, its 98% USDT concentration also leaves that expansion heavily dependent on one stablecoin.

TRX staking declines as liquid supply grows While network usage strengthened, TRX staking moved in the opposite direction and changed the token’s supply dynamics. Staked TRX fell 0.9% to 45.7 billion during Q2, pushing the staking rate down to 48.2% after six quarters of growth.

KuCoin has secured ISO 22301:2019 certification for its business continuity management system, adding an international continuity standard to the exchange’s existing security and operational controls.

Summary

KuCoin has secured ISO 22301:2019 certification for its business continuity management system. The standard covers preparations for operational disruptions and recovery of critical services. KuCoin now lists ISO 22301 alongside ISO 27001 and SOC 2 Type II in its Trust Framework. The certification comes as regulators place more focus on operational resilience for crypto and financial firms. According to KuCoin’s Aug. 11 announcement, the certification covers its framework for preparing for operational disruptions, maintaining critical services and restoring affected systems when incidents occur.

KuCoin ISO 22301 certification covers service continuity ISO 22301 sets requirements for a Business Continuity Management System, or BCMS, under which companies identify possible operational disruptions, establish response procedures and prepare recovery plans for critical services.

For KuCoin, the certification adds business continuity management to a compliance framework that already includes ISO/IEC 27001:2022 for information security and SOC 2 Type II for operational controls.

The exchange said ISO 22301 is designed to cover disruptions that can come from cyber incidents, infrastructure failures, problems involving outside service providers and other unexpected events. Its focus extends beyond preventing an incident by requiring procedures for keeping important operations running and restoring services when interruptions occur.

Such requirements have particular relevance for cryptocurrency exchanges because trading takes place around the clock rather than within fixed market hours. Platforms must maintain access to trading, asset transfers, payments and other services across different regions and time zones.

KuCoin identified cloud outages, blockchain node failures, payment infrastructure problems and reliance on third-party providers among the operational risks that exchanges may need to manage alongside cybersecurity threats.

The certification follows previous additions to the exchange’s security controls. As crypto.news reported in December, KuCoin already held SOC 2 Type II, ISO 27001:2022, ISO 27701 and Cryptocurrency Security Standard certifications at the time it received its European regulatory authorization. The exchange also used third-party proof-of-reserves audits.

KuCoin now lists ISO/IEC 27001:2022 for information security management, SOC 2 Type II for operational reliability and ISO 22301:2019 for business continuity as three parts of its Trust Framework.

Operational resilience requirements have entered crypto regulation Business continuity controls have also become part of regulatory requirements for financial and crypto companies in several markets.

In the European Union, the Markets in Crypto-Assets Regulation establishes rules for crypto-asset service providers, while the Digital Operational Resilience Act sets requirements covering information and communications technology risks for regulated financial entities.

DORA includes requirements around ICT risk management, incident handling, resilience testing and third-party technology risks. KuCoin also cited regulatory guidance from the Monetary Authority of Singapore and the Hong Kong Monetary Authority when discussing the role of continuity planning in financial services.

KuCoin already operates under MiCA through its European subsidiary. The exchange secured its MiCA license in Austria in late 2025, allowing KuCoin EU Exchange GmbH to provide regulated crypto services across 29 European Economic Area countries through the framework’s passporting system.

The Austrian authorization covers trading, custody and other digital asset services. MiCA also places requirements on licensed crypto service providers involving capital, governance, customer asset segregation and disclosures.

KuCoin CEO BC Wong said at the time that regulatory compliance formed part of the company’s long-term strategy. The authorization followed KuCoin’s registration as a Digital Currency Exchange with Australian financial intelligence agency AUSTRAC in November 2025.

According to Wong, MiCA had made regulatory compliance a basic requirement for companies seeking to operate in Europe. He said the exchange was investing in custody systems, compliance workflows and market-making infrastructure while operating under the European framework.

KuCoin adds continuity controls to its trust framework With the latest certification, KuCoin is putting additional controls around how its services respond when normal operations are disrupted.

The company said the BCMS framework requires organizations to identify risks before an incident, establish continuity plans and improve their ability to recover important services. The process also requires ongoing review rather than treating continuity planning as a one-time exercise.

BC Wong said maintaining user trust depended on a platform’s ability to remain consistent and reliable as well as secure.

“Trust is built not only through security, but also through consistency and reliability,” Wong said.

“As the digital asset industry continues to mature, operational resilience is becoming just as important as security,” he added, saying the ISO 22301 certification strengthens KuCoin’s preparations for unexpected events and its ability to restore operations.

The certification comes as KuCoin has also been building its regulatory presence outside Europe.

In April, the Central Bank of Nigeria selected KuCoin as the only global cryptocurrency exchange among six companies participating in a supervisory pilot for virtual asset service providers. The Nigerian regulatory pilot focuses on anti-money laundering, counter-terrorist financing and counter-proliferation financing controls aligned with Financial Action Task Force standards.

Participants were required to provide detailed reports and work on governance, transaction monitoring and Travel Rule controls under the program. KuCoin joined five Nigerian fintech and crypto companies in the first group selected by the central bank.

Its regulatory record has also included enforcement actions in the United States. In March, KuCoin parent Peken Global Limited agreed to a $500,000 civil penalty to resolve Commodity Futures Trading Commission claims related to operating an unregistered offshore commodities exchange.

Under the CFTC settlement reached in March, Peken Global resolved the regulator’s remaining claims without admitting or denying the allegations and avoided a disgorgement order after cooperating with investigators.

The CFTC case followed KuCoin’s January 2025 guilty plea in a separate U.S. criminal case involving the operation of an unlicensed money transmitting business. The company agreed to pay more than $297 million in penalties in that case, while U.S. prosecutors had alleged deficiencies in its anti-money laundering and know-your-customer controls.

Against that regulatory history, KuCoin has continued adding formal security, compliance and operational standards to its systems. The ISO 22301 certification specifically addresses whether an organization has established processes to maintain or recover critical functions when disruptions occur.

Under its current Trust Framework, ISO/IEC 27001:2022 covers the management of information-security risks, while SOC 2 Type II assesses controls related to areas such as security and operational processes over a defined period. ISO 22301 adds a separate framework governing business continuity planning and recovery.

KuCoin said the three standards are intended to support information protection, service reliability and operational resilience across the exchange.

Wong said the company would continue investing in infrastructure under its “Trust First. Trade Next.” approach, with the latest certification focused on its ability to prepare for unexpected events and recover critical digital asset services efficiently.

Robinhood launched its own blockchain less than a month ago, and Uniswap has already turned it into home turf. Uniswap V4 controls roughly 73% of all decentralized exchange liquidity tied to tokenized stocks on the Robinhood Chain, with V3 picking up another 26%. That leaves about 1% for everyone else to fight over.

Uniswap V4’s total value locked on Robinhood Chain sits at $38.18 million according to DefiLlama, while the chain’s broader RWA value has surged to approximately $70 million by late July 2026.

How Robinhood Chain got here Robinhood Crypto launched the Robinhood Chain on July 1, 2026, as an Ethereum-compatible layer-2 blockchain purpose-built for tokenized real-world assets. The flagship product: Stock Tokens, which are ERC-20 tokens that give holders economic exposure to underlying US equities and ETFs.

These tokens provide price exposure, not legal ownership rights. You get the economics of holding Apple or Tesla stock without actually owning shares in a brokerage account.

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More than 90 Stock Tokens tied to major US equities and ETFs were available immediately after launch. Multiple Stock Tokens have since achieved daily trading volumes exceeding $500,000, with some reaching into the millions.

The total early liquidity across Uniswap’s deployments on the chain started at around $4 million. Within weeks, that figure ballooned as traders and liquidity providers flooded in, pushing the chain’s total RWA value to the $70 million mark.

Why Uniswap owns the liquidity layer Uniswap deployed versions 2, 3, 4, and UniswapX on Robinhood Chain from day one. Uniswap V4 introduced a hook-based architecture that lets developers customize pool behavior, from dynamic fees to on-chain limit orders, without deploying entirely new contracts.

Uniswap also recently launched a product called Pools.trade, further expanding its toolkit on the chain.

The bigger picture for tokenized stocks The chain went from zero to $70 million in RWA value in roughly three weeks. Multiple Stock Tokens achieved daily trading volumes exceeding $500,000, reflecting strong market activity rather than idle liquidity.

The competitive implications extend to other tokenized asset platforms, including Backed Finance and Ondo, which now face a scenario where a household-name fintech brand is offering equity exposure on a dedicated blockchain with Uniswap’s DEX infrastructure already integrated at launch.

The risk side of the equation centers on regulatory uncertainty. Stock Tokens explicitly disclaim legal ownership, which sidesteps some securities law questions but raises others around whether these tokens constitute securities or derivatives.

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

Solana‘s exchange-traded funds have reported a significant resurgence in demand, with the latest trading session seeing the highest net inflow in three months. This development stands out amid ongoing market volatility and relatively muted price movement for the native SOL token.

Institutional investors returnAccording to data provided by the social analytics firm Santiment, Solana ETFs have recorded $8.8 million in net inflows during a recent daily session, representing their most substantial single-day gain since May 12. Continuous outflows and minimal activity had characterized the prior weeks, as institutional and retail investors showed limited appetite for the product.

Market participants suggest that this reversal signals renewed institutional confidence in Solana-based investment opportunities. Many investors had previously sidelined the funds due to lackluster trading sessions and persistently low capital commitments.

Network growth and milestonesDespite the positive inflow into Solana ETFs, the price of SOL has seen limited movement, lingering near $75. The increased demand for ETF products is not directly tied to price momentum but may reflect accelerating network activity and ecosystem expansion.

Recent data points to several milestones for Solana across multiple segments. The network has reported substantial growth in Real-World Asset (RWA) tokenization, stablecoin transactions, tokenized equities, and perpetual futures markets. These advancements in on-chain activity are regarded by some analysts as potential drivers of longer-term investor interest.

In parallel with broader sector trends, a significant shift is underway as financial markets explore Web3 technology. Traditional brokerage models are being disrupted as investors increasingly use platforms such as 1stepSwap to hold tokenized shares of major US companies, as well as gold and silver, directly within their crypto wallets. By tokenizing RWAs and delivering best market prices in seconds, these platforms eliminate intermediaries and offer direct exposure to a broad range of assets.

Upcoming Solana upgradeSolana’s momentum is further underpinned by ongoing protocol development. The network will soon implement its Alpenglow upgrade, which aims to reduce settlement finality to approximately 150 milliseconds. This technical improvement is expected to make Solana’s blockchain even more competitive by enabling faster transaction confirmation times.

Observers note that the anticipated upgrade could attract new participants and strengthen institutional engagement with Solana’s ecosystem. The combination of network innovation and increased ETF inflows highlights a period of renewed optimism among key stakeholders.

Industry experts are monitoring whether sustained interest in SOL-based funds can translate into broader market activity and increased liquidity for the token itself. The recent shift in ETF flows may signal the start of a new investment cycle for Solana, provided that adoption trends and technical milestones continue to progress.

Solana has reached notable milestones in key areas including RWAs, stablecoins, tokenized equities, and perpetual futures, according to recent data.

As developments unfold, market participants appear focused on both technical upgrades and Solana’s expanding footprint across various digital asset sectors.

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.

A large bank has reportedly enabled clients to borrow up to 25% of the value of their Bitwise Solana Staking ETF (BSOL) holdings, according to a disclosure shared on the fund’s official site. No official announcements or detailed specifics have emerged regarding this borrowing facility, and no bank has been publicly confirmed as linked to the program.

What BSOL actually is, and why it matters BSOL launched on October 28, 2025, as the first US spot Solana ETP offering 100% direct exposure to SOL holdings. Bitwise Asset Management designed the fund with an in-house staking strategy, executed through Bitwise Onchain Solutions and powered by Helius, targeting roughly 7% in staking rewards.

Those rewards don’t get distributed to shareholders as dividends. Instead, they’re reinvested to compound the fund’s net asset value over time.

The fund’s fee structure is notably lean. Bitwise charges a 0.20% sponsor fee, and even that gets waived on the first $1B in assets under management for the initial three months.

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BSOL surpassed $500M in AUM by November 21, 2025, just three weeks after launch. More recently, the fund has reached approximately $586M in assets under management, with daily trading volume registering in the tens of millions of shares.

The 25% LTV facility, explained Loan-to-value ratios are the bedrock of collateralized lending. If you hold $100K worth of BSOL and a bank offers 25% LTV, you can borrow up to $25K against those holdings without selling them. The asset stays in your account as collateral.

A 25% LTV is conservative by traditional finance standards. Blue-chip equities typically qualify for 50-70% LTV at major brokerages through margin accounts. Real estate mortgages routinely hit 80% or higher.

It’s worth noting that BSOL itself does not utilize leverage at the fund level, nor does it offer margin or secured lending products publicly. This borrowing facility exists at the bank level, meaning it’s the bank’s own risk assessment and credit infrastructure being applied to a crypto ETF, not something baked into the fund’s prospectus.

Why banks are warming up to crypto collateral What’s different now is the wrapper. BSOL isn’t a raw token sitting in a MetaMask wallet. It’s a regulated ETF trading on a US exchange, with a named asset manager, auditable holdings, and daily liquidity.

Because BSOL reinvests staking rewards at roughly 7% annually, the collateral is theoretically appreciating in token terms even when prices are flat. SOL dropped more than 90% from its 2021 peak during the last bear market.

What to watch from here For investors, the practical appeal is straightforward. Borrowing against BSOL instead of selling it means maintaining exposure to both SOL price appreciation and staking yield compounding, while still accessing liquidity for other investments or expenses. It’s a tax-efficient strategy too, since selling would trigger capital gains in most jurisdictions, while borrowing against an appreciated asset typically doesn’t.

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

Stacks is rolling out what it calls the Genesis Bond, a new on-chain instrument that lets participants earn Bitcoin-denominated yield while keeping their BTC firmly planted on Bitcoin’s base layer. Enrollment opens September 10, 2026, at Bitcoin block 966,350.

Instead of locking your BTC into a bridge, wrapper, or some third-party custody arrangement, the Genesis Bond lets holders pair STX tokens with BTC and earn yield generated through Stacks’ Proof of Transfer consensus mechanism. The BTC never leaves layer 1.

How the Genesis Bond actually works The Genesis Bond is the inaugural product in Stacks’ broader Bitcoin Staking framework. The yield comes from miner bids through Proof of Transfer, or PoX, the consensus mechanism that underpins the Stacks network.

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In PoX, miners spend BTC to participate in block production on Stacks. That spent BTC gets distributed to participants who are stacking their STX tokens. The Genesis Bond extends this model by creating a formal pairing mechanism between STX and BTC, giving both tokens a defined role in the yield equation.

The initial phase is deliberately small. Stacks is targeting 100 to 200 BTC in total allocation, with participation limited to institutional and whitelisted participants.

The PoX-5 hard fork set the stage The Genesis Bond follows the PoX-5 hard fork, which activated around July 29, 2026, and laid the technical groundwork for Bitcoin Staking on Stacks.

The timeline shifted slightly from earlier expectations. Initial community consensus pointed to a late-August launch, but the team settled on the September 10 date tied to block 966,350.

Why institutions are paying attention The Genesis Bond takes a different approach by keeping BTC on the Bitcoin base layer. There’s no wrapping, no bridging, no handing your keys to a third party. The yield comes from a transparent, on-chain source: miners competing to produce Stacks blocks.

The 100 to 200 BTC cap in the initial phase suggests Stacks is courting a small group of sophisticated participants who can provide meaningful technical and operational feedback before the mechanism is opened to wider audiences.

What this means for the broader market For STX token holders, the Genesis Bond creates direct utility. Pairing STX with BTC in the bonding mechanism gives the token a functional role in yield generation, which is a different value proposition than pure governance or speculative upside.

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

The US Senate has pushed consideration of the CLARITY Act to September, narrowing the window for crypto market-structure legislation this year. For DeFi, 1inch Senior Legal Counsel Maylea Ma says an imperfect but protective framework is still preferable to continued regulatory uncertainty.

The CLARITY Act will have to wait. The US Senate did not take up the crypto market-structure bill before its August recess, pushing the next possible action to September. The delay is significant because lawmakers are running out of time before the November midterms, when passing major legislation becomes considerably harder.

For DeFi, the stakes go beyond the timing of one vote. Maylea Ma, Senior Legal Counsel at 1inch, argues that the current bill contains important protections for non-custodial protocols, software developers and self-custody. The question now is whether lawmakers can preserve those provisions and pass the legislation this year.

Why passage this year mattersMaylea says passing the CLARITY Act this year is very important, even if some parts of the legislation remain imperfect.

One point of contention has been ethics provisions. But Maylea notes that those rules are essentially self-contained and do not change how a non-custodial aggregator such as 1inch would be regulated.

The provisions that matter most for DeFi are already in the merged text: protections under the Blockchain Regulatory Certainty Act, safeguards for software developers and self-custody, and exclusions that recognize the difference between non-custodial software and traditional financial intermediaries. Some of these protections were narrowed during earlier amendment rounds, which makes preserving the remaining language in the current text all the more important. 

For Maylea, imperfect ethics language should therefore not be enough to derail the broader framework.

“The alternative to imperfect-but-enacted is not perfect-but-enacted,” she says. “It is no law at all.”

The August recess had been widely viewed as an important deadline because the legislative window becomes much tighter as the midterms approach. With the vote now pushed back, September becomes the next critical opportunity.

Is an imperfect framework better than uncertainty?For 1inch, Maylea says yes - as long as the DeFi-specific protections remain intact.

A federal law would turn today’s favorable but reversible regulatory guidance into a more durable framework. Agency interpretations can change under a new administration or new regulators. Legislation is harder to reverse.

A law could also reduce reliance on case-by-case enforcement and provide greater consistency across US states.

The qualification is important. “Imperfect” does not mean the industry should support any bill simply to get legislation passed.

Maylea points to Coinbase’s temporary withdrawal of support earlier this year as evidence that the industry can and should push back if legislation becomes affirmatively worse for DeFi than the status quo.

On the current text, however, she believes the DeFi provisions remain protective enough to justify supporting passage.

What happens if the CLARITY Act fails?If negotiations break down, DeFi would remain dependent on the existing regulatory environment.

That would mean continued reliance on agency interpretations that can be reversed, continued uncertainty around enforcement and continued differences between state-level regulatory regimes.

For 1inch, the practical approach would not suddenly change. The non-custodial model would continue operating under the same conservative legal posture centered on self-custody.

What would remain missing is statutory certainty.

Without legislation, future administrations and regulators could reinterpret how existing financial laws apply to DeFi. Developers would continue operating without the type of explicit legal protections that the current CLARITY Act text aims to provide.

Failure this year could also stall legislative momentum until after the November 2026 midterms. The next Congress may have a different composition and a different appetite for crypto legislation.

September becomes the next testThe CLARITY Act has not failed, but the clock is running.

The Senate delay gives negotiators more time to resolve outstanding disagreements. It also leaves less time to move the bill through the remaining legislative process before election politics take over.

For Maylea, the priority is not a perfect bill at any cost. It is a durable framework that preserves meaningful protections for DeFi developers, non-custodial infrastructure and self-custody. September will show whether Congress can deliver one.

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Disclaimer: This article discusses pending legislation and reflects policy perspectives shared by 1inch Senior Legal Counsel Maylea Ma. It does not constitute legal advice. Statements reflect the status of the legislation as of early August 2026. The CLARITY Act remains subject to change as it moves through the legislative process.

Pendle Finance has expanded to XLayer, OKX’s zkEVM Layer 2 network, with its first yield market for USDG. The market, which carries an October 2026 maturity date, lets users lock in fixed returns on a regulated dollar-pegged stablecoin.

The move marks another step in Pendle’s multi-chain expansion and its growing push into real-world asset and stablecoin yield markets throughout 2026. It also represents a meaningful moment for USDG, the Paxos-issued stablecoin that has been live on XLayer since September 2025, now gaining a dedicated venue for yield generation.

How the market works Pendle’s core product splits yield-bearing assets into two components: Principal Tokens (PT) and Yield Tokens (YT).

PT holders receive a fixed return at maturity. Buy a PT representing $100 of USDG at a discount today, redeem it for the full $100 worth in October. The difference is your yield, known upfront.

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YT holders take the opposite side of that trade. They’re speculating that the floating yield on USDG will exceed what the market currently prices in. If rates spike, YT holders win. If rates fall, they eat the loss.

Bringing the same mechanics to XLayer means users can access these strategies with lower transaction costs, courtesy of the Polygon-based zkEVM architecture that underpins OKX’s Layer 2.

Why USDG matters here USDG isn’t just another stablecoin. Issued by Paxos under the Global Dollar Network, it’s backed 1:1 by US dollars held in cash and short-term Treasury securities.

Paxos has built its reputation on regulatory compliance, having previously issued PayPal’s PYUSD stablecoin. USDG’s presence on XLayer since September 2025 gave the stablecoin time to establish liquidity on the network before Pendle arrived to build yield infrastructure on top of it.

Incentives and Aave integration Pendle has signaled that exclusive incentives are coming for the USDG market on XLayer. The protocol has noted an anticipated Aave integration that would layer additional rewards on top of the base yield mechanics.

Pendle’s prior pools for USDG have demonstrated substantial TVL and user concentration on Ethereum, reflecting strong demand for yield-generation strategies.

What this means for DeFi fixed income XLayer, as OKX’s native Layer 2, brings direct access to OKX’s user base. Users already custodying assets on OKX can bridge to XLayer with minimal friction, potentially discovering yield strategies they wouldn’t have sought out on Ethereum mainnet where gas costs make small positions uneconomical.

The October 2026 maturity window is relatively short, which keeps duration risk minimal for PT buyers. It also means the market will need to roll over quickly, giving Pendle a near-term test of whether XLayer users will re-enter subsequent maturities.

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

Solana is preparing for a major governance vote set for August 23 to 29, which could see nearly 18.9 million SOL removed from the network’s long-term issuance plans. At current valuations, the reduction would prevent about $1.39 billion worth of SOL from being minted in the future, according to a detailed analysis by Fire Hustle.

Proposals aim to reshape issuance and burn dynamicsThe upcoming vote will assess two major proposals targeting Solana’s tokenomics. The first, SGP-0002, seeks to accelerate the network’s path toward its eventual 1.5% annual issuance floor. Under the current system, this milestone would be reached in nearly six years, but the proposal aims to shorten the timeline to less than three years.

Solana’s annual issuance rate started at 8% and has already decreased to around 3.8%. The network now distributes roughly 60,000 SOL per day as validator rewards, making this proposal a potential turning point for how quickly new tokens enter circulation.

Fire Hustle highlights that the first proposal will not affect the eventual issuance rate, but rather accelerates when it is achieved, with significant implications for long-term sell pressure and validator payouts.

A second proposal, SGP-0003, covers Solana’s transaction fees. It would allocate a base fee to validators, while a compute-based fee component would be fully burned. Initial estimates suggest the daily burn could jump from around 648 SOL to 1,500 to 1,800, with the potential to reach 7,500 to 9,000 SOL once fully implemented. Despite these increases, overall issuance would continue to outpace the amount burned.

Validator impact and community stakesThe proposed changes have raised concerns among smaller network validators. Fire Hustle estimates that maintaining a validator costs about 350 SOL annually, yet many small operators already face losses due to limited delegated stake and low commission income. Currently, around 290 validators are operating at negative margins, a number that could rise to 320 within three years if the issuance declines as planned.

The Solana Foundation’s gradual reduction in delegation support for these smaller validators may add further pressure. Helios, regarded as Solana’s largest infrastructure provider, and Jupiter have emerged as major supporters, committing 16 million SOL and 12.47 million SOL respectively in backing the new proposals. Fire Hustle points out that Helios engineers played a significant role in drafting both measures.

The analyst describes the vote as a pivotal moment for Solana’s economic model, especially regarding whether the network can adjust monetary policy without destabilizing incentives for its validator base.

Governance changes and broader implicationsSolana’s new on-chain governance enables stakers to override their validator’s vote directly, adding democratic flexibility to the process. This development could be decisive, since a comparable proposal in March 2025 attracted more than 74% participation but failed to garner the 66.6% required approval threshold, closing with only 43.6% in favor.

With community turnout and ongoing market demand both critical for the outcome, the network’s broader supply and incentive structure remains in focus. If adopted, these measures would not create an immediate price impact, but rather test the project’s ability to balance sustainable issuance with validator rewards—a key element of long-term network health.

For users navigating these proposed technical changes and seeking real-time market reactions, platforms like CryptoAppsy offer a streamlined solution. By aggregating investments, real-time price data, and detailed portfolio analytics on one dashboard, users can follow live macroeconomic data such as Fed rate decisions, set smart alerts, and track relevant news for any coin under discussion—helping investors stay agile as protocol changes unfold.

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.

The Coldcard hack is testing crypto investigators’ ability to measure losses from self-custody wallets, where victim reports are critical to establishing the scale of the theft.

Blockchain analytics platform CryptoQuant currently puts confirmed losses at 1,432 Bitcoin, while other analysts have traced substantially more funds to the attack.

Galaxy Research and blockchain intelligence company TRM Labs both say their analysis points to a higher toll, while distinguishing between losses directly confirmed by victims and funds attributed to the attack through on-chain patterns.

That makes self-custody attacks difficult to quantify: Unlike an exchange hack, there is no complete list of affected accounts, leaving investigators to build estimates rather than pin down a definitive toll.

Galaxy traces losses beyond victim reportsGalaxy’s Alex Thorn told Cointelegraph the platform’s earlier estimate of as much as 1,816 BTC was a potential figure rather than a confirmed loss total.

As of Tuesday, Galaxy put its high-confidence minimum at 1,730 Bitcoin, with Thorn saying the figure could still increase as more victim reports corroborate attack patterns.

Source: Galaxy Research

“We have directly confirmed 450+ BTC directly from victim reports, but their reports have helped identify other, as-yet-unknown victims in more than 730 total BTC,” Thorn said. Galaxy uses those reports to corroborate broader attack patterns, while withholding funds it suspects but cannot yet sufficiently verify. “We are still withholding many more BTC we suspect but for which we lack sufficient corroboration,” Thorn said.

TRM Labs said its independent tracing lands in the same range as Galaxy, while its recent analysis estimated that attackers drained about 1,816 BTC from more than 5,200 addresses across four waves. “Investigators should expect the estimate to keep moving upward before it stabilizes,” TRM’s global head of policy Ari Redbord told Cointelegraph.

CryptoQuant takes a stricter approachCryptoQuant’s head of research, Julio Moreno, told Cointelegraph that the company starts with public reports from victims, including wallet addresses or transaction IDs, and then checks those reports against known on-chain patterns from the attack.

That approach puts CryptoQuant’s confirmed tally at 1,432 BTC, which Moreno described as a floor that could rise if more victims publicly disclose their hacked addresses.

Source: CryptoQuant

Moreno said CryptoQuant is cautious about identifying victims solely from on-chain patterns because doing so could produce false positives and inflate the estimate.

“Because the stolen Bitcoin belonged to individuals and not to a centralized entity, like an exchange, we can only confirm what each victim publicly discloses,” he said.

Hard number to pin downMoreno emphasized the total will remain an estimate because investigators can only confirm what victims disclose. He said:

“Knowing the total BTC stolen is difficult, and it will always be an estimation.”Chainalysis told Cointelegraph it has not conducted an independent tally of the losses, while blockchain investigator ZachXBT publicly said he has no plans to monitor or trace the incident.

Magazine: Do the Coldcard attacks mean all hardware wallets are now insecure?

Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

National Bank of Canada just revealed that it holds millions of dollars in crypto ETFs, such as an XRP ETF, and several Bitcoin ETFs, in its latest SEC Form 13F filing. The disclosure follows the Grayscale’s XRP Trust ETF reports considerable XRP sales in the initial half of 2026.

National Bank of Canada Reports XRP ETF, Bitcoin ETF Holdings The filing reveals that National Bank had 3,848 shares in the Bitwise XRP ETF, worth about $330,000 at the date of the filing. It was announced in conjunction with the bank’s investments in several Bitcoin exchange-traded products.

The largest exposure to cryptocurrencies that National Bank reported was in the ProShares Bitcoin ETF, which consisted of 42,321 shares valued at about $5.31 million.

The bank also owned 55,644 shares of the Fidelity Wise Origin Bitcoin Fund worth approximately $1.09 million. It had 6,831 shares of the Grayscale Bitcoin Trust ETF, representing around $150,000 in Grayscale Bitcoin exposure.

The submission also revealed 2,596 shares of the Grayscale Bitcoin Mini Trust ETF with a reported value of approximately $100,000.

The combined value of the disclosed holdings in both XRP and Bitcoin is approximately $6.98 million, as per the filing’s values.

Grayscale XRP ETF Sells $180M In XRP The institutional disclosure follows Grayscale’s XRP Trust ETF disclosure of massive XRP sales.

According to recent filings, Grayscale has sold $180.78 million worth of XRP in the first half of 2026. These transactions were comprised of approximately 103.41 million XRP to satisfy investor redemptions.

The sales also impacted the trust’s NAV since the price of XRP has been falling during the same time. Grayscale reported over $34 million of realized losses on the sale of XRP.

TLDR XRP traded near $1.03 to $1.04 on August 10, 2026, staying above its $1.00 support level. The CLARITY Act vote has been pushed to mid-September, removing a near-term catalyst. Whales added more than 380 million XRP in the past seven days, bringing total holdings to about 8.1 billion tokens. US-listed XRP spot ETFs hold close to $1 billion in assets, with $1.51 billion in cumulative inflows. Aviva Investors tokenized its USD Liquidity Fund on the XRP Ledger, adding to rising institutional activity. XRP traded between $1.03 and $1.04 on August 10, 2026. The token has held above its $1.00 support level for 632 straight days.

That streak started in November 2024, after the SEC dismissed its case against Ripple Labs. Since then, $1.00 has acted as a floor during both rallies and pullbacks.

The main event traders were watching, the CLARITY Act vote, has now moved to around September 15. The bill needs 60 votes to advance, and Senate Majority Leader John Thune scheduled it after the August recess.

Grayscale research chief Zach Pandl said the odds of the bill passing in 2026 look thin given election-year politics. That leaves XRP without a clear regulatory catalyst for now.

Whale Buying and ETF Flows Large XRP holders bought more than 380 million tokens over the past week. Total whale holdings now sit near 8.1 billion XRP, about 13% of the circulating supply.

XRP Price on CoinGecko On-chain tracker RippleXity said this buying has concentrated around the $1.00 level. US spot XRP ETFs now hold close to $1 billion in assets, with $1.51 billion in inflows since launch.

Momentum readings differ depending on the source. One daily RSI reading sits in the high 30s to 40, while a separate Coinglass-based reading puts XRP’s RSI near a neutral 50, lower than Bitcoin, Ethereum, Solana, and BNB, which all look overbought.

A liquidation heatmap from Coinglass shows a cluster of orders built up between $1.06 and $1.07 this week. That cluster formed even as price dipped toward $1.00.

Institutional Activity on XRPL Aviva Investors posted on X, through the account BankXRP, that it tokenized its USD Liquidity Fund on the XRP Ledger. The post said the fund now offers a tokenized share class aimed at institutional investors.

Real-world asset value on XRPL has grown more than 28% over the past 30 days. Stablecoin market cap on the network rose over 12% in 24 hours, pushing total stablecoin value close to $1 billion.

Analyst Ali Martinez pointed to a Tom DeMark Sequential buy signal on XRP’s monthly chart. He said a monthly close above $1.06 could open a path toward $1.35 and then $1.64.

2/5 The Tom DeMark Sequential has flashed a buy signal on XRP’s monthly chart, hinting at a possible macro shift from bearish to bullish momentum.

Over the past six years, this indicator has marked several major XRP reversals:

• April 2020 buy signal: 1,074% rally
• August… pic.twitter.com/XKhGapPolP

— Ali Charts (@alicharts) August 9, 2026

Analyst Dark Defender flagged an oversold RSI reading after last week’s dip, calling it a possible setup for a sharp bounce once price clears $1.05. Crypto commentator Gerla said a reclaim of $1.08 could trigger a fast reversal higher.

XRP still trades below its 50-day EMA near $1.10, its 100-day EMA near $1.18, and its 200-day EMA near $1.37. All three sit above current price.

Traders are also watching two macro events this week. US inflation data for July lands August 12, followed by remarks from Cleveland Fed President Beth Hammack and Richmond Fed President Thomas Barkin on August 13.

Coinbase on Tuesday said it is expanding derivatives access to professional investors in the UK. This represents another milestone for the crypto exchange amid its Everything Exchange strategy, following the rollout of 24/5 US stock trading to all users in the UK. COIN stock rebounds in premarket hours in Tuesday.

Coinbase Rolls Out Crypto Derivatives Trading in the UK Crypto exchange Coinbase is launching futures, perpetuals and options in the UK, rolling out access to professional investors over the coming months.

Eligible investors can trade over 170 contracts across crypto, stocks, commodities and forex. Among these, perpetual contracts support 24/7 trading with up to 50x leverage, while dated futures offer up to 20x leverage.

Also, crypto options support calls, puts, and multi-leg strategies. These services are exclusively available to qualified investors classified as professional clients.

The derivatives launch in the UK comes after Coinbase secured MiFID license from the Financial Conduct Authority (FCA) last month. The license enabled the crypto exchange to offer derivative contract trading to UK investors.

“This launch is part of our global commitment to build a unified, borderless, and fully transparent derivatives ecosystem. It gives professional traders the tools to navigate any market,” said Coinbase UK arm CEO Keith Grose.

As CoinGape reported recently, Coinbase launched 24/5 stock trading to all users in the UK. It enabled eligible UK investors to buy, sell, and hold US stocks alongside crypto and fiat in the same app.

COIN Stock Price Sees Slight Rebound Coinbase stock (COIN) is up 0.40% during the premarket trading hours on Tuesday. COIN stock closed 3.20% lower at $148.68 on Monday, as the broader US stock market fell on Iran’s refusal to reopen the Strait of Hormuz.

Coinbase stock outlook revealed the price remains below the 20-day EMA and the 50-day EMA at $162. Also, the short-term momentum is favoring bears, with potential drop continuing unless buying pressure rises.

The derivatives trading expansion in the UK continues Coinbase’s push to diversify beyond pure crypto trading volume into a multi-asset platform.

Meanwhile, Bitcoin has also recorded a slight rebound after dropping more than 2% over the past 24 hours. The price is currently trading at $64,134, with a massive 45% bounce in trading volume.

Prediction markets show 26% odds for Bitcoin to dip below $60,000 in August, with Wednesday’s CPI inflation data as the major event to watch this week.

Payments platform Decta has integrated USDC into its internal treasury operations to settle company funds internationally through OpenPayd, without adding stablecoins to its customer-facing payment services.

Summary

Decta will use USDC to settle its own funds internationally through OpenPayd’s infrastructure. OpenPayd will convert Decta’s company funds into USDC through its OTC services for operational settlements. The integration is limited to Decta’s treasury operations and will not introduce stablecoins into customer-facing payment flows. Decta previously explored issuing a euro-pegged stablecoin under MiCA with France-based Next Generation. Decta said Tuesday that company funds will be transferred into OpenPayd’s regulated infrastructure, where they can be converted into Circle’s USDC through the financial infrastructure provider’s over-the-counter services before being used for international operational settlements.

The arrangement is limited to Decta’s own money rather than funds handled for merchants or other clients, keeping the stablecoin component behind the company’s existing payments business.

Lux Thiagarajah, chief commercial officer at OpenPayd, told crypto media that the integration represents a proprietary treasury use case and does not introduce USDC into Decta’s customer payment flows.

Using this setup, Decta can move its own funds between international entities, convert fiat into USDC when required and use the stablecoin for settlement through OpenPayd’s infrastructure. The company said the arrangement will support liquidity management while simplifying transfers across its operations.

Decta uses USDC for internal treasury settlements Decta CEO Scott Dawson said the company is using technology to make its financial operations faster, simpler and more resilient while retaining its existing controls and regulatory requirements.

Rather than allowing customers to pay merchants in stablecoins, Decta is using USDC as an operational settlement asset between parts of its business. Thiagarajah said OpenPayd handles the conversion through its OTC capabilities after Decta transfers its funds into the provider’s regulated infrastructure.

The distinction separates the arrangement from consumer-facing stablecoin payment products because Decta’s clients do not directly interact with USDC as part of the transaction process.

Decta, founded in London in 2015, provides payment processing, acquiring, card issuance, banking infrastructure and related services to businesses. According to the company’s announcement, it operates across 32 countries and serves hundreds of companies.

Its website describes the group as an end-to-end payments infrastructure provider covering acquiring, issuing and processing, with services including payment acquiring, BIN sponsorship, white-label card issuing, issuer and acquirer processing and digital banking infrastructure.

The USDC arrangement adds a blockchain-based settlement rail to Decta’s internal financial operations without requiring the company to change the payment products offered to its customers.

OpenPayd brings regulated USDC conversion into the process OpenPayd’s role in the arrangement follows the company’s expansion of its regulated digital asset services in Europe.

In June 2026, OpenPayd received MiCA authorization, which allows the London-founded financial infrastructure provider to offer regulated crypto services across the European Economic Area under a single authorization.

The approval covers fiat-to-stablecoin conversions, custody, wallet infrastructure and stablecoin transfers across supported blockchain networks, according to OpenPayd. The company secured the authorization shortly before the European Union’s MiCA transition period ended on July 1.

OpenPayd was founded in London in 2018 and connects traditional fiat payment infrastructure with digital assets. Its client base includes Kraken, eToro, OKX and institutional crypto liquidity provider B2C2, according to the Decta announcement.

Its USDC infrastructure was developed before the MiCA approval. Back in 2025, OpenPayd partnered with Circle to allow clients to convert between fiat currencies and USDC while managing both forms of money through the company’s financial infrastructure.

At the time, the companies said the integration was designed for uses including payments, treasury management and digital asset services. OpenPayd said it processed more than €130 billion annually when the partnership was announced.

The company has since built stablecoin functions that allow businesses to receive, hold, convert and send digital dollars alongside fiat balances. OpenPayd said in February that its infrastructure could also be embedded into existing treasury and payment workflows while supporting cross-border settlement.

Stablecoins are entering corporate treasury workflows Decta is not the only company testing stablecoins primarily as a treasury tool rather than as a consumer payment method.

In July, Hyundai Motor’s U.S. and Mexican operations completed a $20,000 cross-border treasury transfer using USDT on Avalanche, with the transaction settling in about seven minutes, as previously covered by crypto.news.

Tether said Hyundai Motor America converted dollars into USDT and transferred the tokens to Hyundai Motor Mexico, where the stablecoin was converted back into dollars. Hyundai Card designed the remittance structure while Axiym supplied settlement infrastructure, and the companies kept their existing compliance, accounting and treasury controls in place during the test.

The Hyundai pilot also followed a separate integration between Circle and treasury software provider Kyriba. According to the companies, Kyriba’s corporate clients can manage USDC balances alongside cash positions and use the stablecoin for eligible cross-border and intercompany transactions while retaining existing treasury approval procedures.

Business use of stablecoins has also extended into liquidity management. Bitso Business said in July that stablecoin transaction volume on its platform had increased 81% year over year during the first half of 2026, attributing the increase to demand for real-time settlement, treasury management and cross-border liquidity services. More than 60% of its newly onboarded business clients during the period were financial institutions, including banks and licensed payment providers, the company said.

Decta’s implementation differs from some of those pilots because the company is integrating USDC into an active internal treasury process through an external regulated infrastructure provider rather than announcing a customer stablecoin product.

Decta has previously explored a MiCA stablecoin The treasury integration follows Decta’s earlier work involving regulated stablecoins in Europe.

In August 2024, Decta Limited and France-based Next Generation said they were exploring the issuance of a euro-pegged stablecoin under the European Union’s Markets in Crypto-Assets Regulation, subject to receiving the necessary regulatory approval.

MiCA introduced specific requirements for stablecoin issuers and crypto service providers across the European Union, while authorization in one member state can allow eligible firms to passport their services across the bloc. The regulatory transition for crypto-asset service providers ended on July 1, 2026.

USDC has remained available within the regulated European market because Circle obtained the required authorization for the stablecoin, while several platforms restricted non-compliant assets as the MiCA transition ended.

For its latest implementation, however, Decta is not issuing a stablecoin or offering one to customers. Its funds are instead sent to OpenPayd, converted into USDC through OpenPayd’s OTC infrastructure and used for Decta’s own international operational settlements before the company continues managing its customer payment services separately.

Ravencoin ağında kritik bir konsensüs açığının istismar edildiği açıklandı. Geçersiz blokların kabul edilmesine yol açan güvenlik sorunu sonrası 2Miners ve RavenMiner farklı bir zincir üzerinde madencilik yaparken, baskın zincirin değişmesi halinde yaklaşık üç günlük işlemin yeniden düzenlenmesi riski bulunuyor.

Ravencoin’in resmi açıklamasına göre ağdaki ilk bilinen geçersiz blok, 7 Ağustos’ta 4.487.776 blok yüksekliğinde ortaya çıktı. Güvenlik açığı, savunmasız düğümlerin normalde kabul etmemesi gereken blokları geçerli olarak işlemesine neden oldu.

Sorunun ardından ağdaki bazı madencilik havuzları farklı bir zincir üzerinde çalışmaya başladı. Bu gelişme, Ravencoin’in mevcut zincir yapısının yeniden düzenlenmesi ihtimalini gündeme getirdi.

Ravencoin Ağındaki Açık Ne Anlama Geliyor? Buradaki konsensüs açığı, blockchain ağındaki bilgisayarların hangi blokların geçerli olduğu konusunda aynı kuralları uygulamasını etkileyen bir güvenlik sorunu anlamına geliyor.

Ravencoin açıklamasına göre açık istismar edildikten sonra bazı düğümler geçersiz blokları kabul etti. İlk bilinen geçersiz blok da 4.487.776 numaralı blok oldu.

Blockchain’de her blok bir önceki bloğa bağlandığı için böyle bir hata yalnızca tek bir işlemi değil, zincirin devamındaki işlemlerin geçerliliğini de etkileyebilir.

Ravencoin Network Notice

A critical consensus vulnerability has been demonstrated and exploited on the Ravencoin network.

The issue caused invalid blocks to be accepted by vulnerable nodes. The first known invalid block appeared at height 4,487,776 on 2026-08-07 15:44:01 UTC.…

— Project Raven 🦅/ RVN / Ravencoin (@Ravencoin) August 10, 2026

Ravencoin’de 3 Günlük Reorg Riski Neden Oluştu? Sorunun ardından 2Miners ve RavenMiner, istismar edilen zinciri dışarıda bırakan farklı bir zinciri kazdıklarını duyurdu.

Burada devreye reorg, yani blockchain yeniden organizasyonu giriyor. Reorg, ağdaki madencilerin veya doğrulayıcıların farklı bir zinciri baskın hale getirmesiyle mevcut zincirin bir bölümünün değiştirilmesi anlamına geliyor.

Eğer 2Miners ve RavenMiner’ın oluşturduğu zincir ağda baskın hale gelirse, Ravencoin’de yaklaşık üç günlük zincir geçmişinin yeniden düzenlenmesi gerekebilir.

Bu durumda bazı işlemler eski zincirde kalabilir ve yeniden geçerli hale gelmeleri garanti olmayabilir.

Borsalara RVN İçin Kritik Uyarı Ravencoin ekibi, ağ durumu kesinleşene kadar borsalara RVN yatırma ve çekme işlemlerini geçici olarak durdurmalarını tavsiye etti.

Açıklamaya göre 4.487.775 numaralı bloktan sonra onaylanan işlemler riskli kabul edilmeli. Bazı işlemler yeniden işlem havuzuna dönebilir ve tekrar madencilik yapılabilir, ancak bunun gerçekleşeceği garanti edilmiyor.

Bu nedenle borsaların geri alınmış yatırma veya çekme işlemlerinin otomatik olarak yeniden ortaya çıkacağını ya da tekrar onaylanacağını varsaymaması gerekiyor.

Ravencoin Kullanıcıları Şimdilik Ne Yapmalı? Ravencoin’in açıklaması, ağ tamamen istikrara kavuşana kadar kullanıcıların yeni onayları kesin kabul etmemesi gerektiğine işaret ediyor.

Özellikle RVN yatırma ve çekme işlemlerinde yaşanabilecek zincir değişiklikleri nedeniyle mevcut onayların daha sonra geçersiz hale gelme ihtimali bulunuyor.

Şimdilik asıl belirleyici gelişme, hangi zincirin ağda baskın hale geleceği olacak.

Ravencoin’deki güvenlik açığının etkisi de bu sürecin sonucuna bağlı. Eğer yeni zincir baskın hale gelirse yaklaşık üç günlük bir reorg yaşanabilir; mevcut zincir korunursa olası etkilerin kapsamı daha sınırlı kalabilir.

Kısacası Ravencoin ağında kritik bir güvenlik sorunu yaşanıyor ve 4.487.775 numaralı bloktan sonraki işlemler henüz tamamen güvenli kabul edilmiyor. Borsalar ve kullanıcılar için en önemli konu ise ağın hangi zincir üzerinde istikrar kazanacağı.

Bu içerik genel piyasa verilerine dayanır ve yatırım tavsiyesi değildir. Kendi araştırmanızı yapmanızı öneririz.

Son Dakika kripto para haberleri için hemen tıkla.

Konu ile ilgili yorumlarınızı bize yazabilirsiniz. Ayrıca, bu tarz bilgilendirici içeriklerin devamının gelmesini isterseniz, bizleri Telegram, Youtube ve Twitter kanallarımızdan takip edebilirsiniz.

Solana (SOL) staged a significant recovery, gaining nearly 7% from its August 7 low of $72.49 and peaking at $77.36 on August 10. This rally pushed SOL above the top of a descending channel that had capped its price since early July, highlighting renewed buying interest after weeks of decline.

Technical indicators signal momentum shiftOn the 4-hour chart, SOL reclaimed the $74.30 level before breaking above channel resistance close to $75. The breakout was marked by a notable rise in transaction volume and a positive bull-bear power reading of 1.23, indicating buyers have outpaced sellers in the short term.

The Supertrend indicator, a tool used by traders to identify support and resistance, flipped bullish and now offers dynamic support at $75.02. As long as SOL remains above this price, its shorter-term outlook stays positive.

Market analyst Dami-Defi drew attention to this technical breakout, stating that SOL had ended a five-week decline. Despite this improvement, SOL continues to trade well below its May local high near $97 and its January peak above $145.

Market observer Dami-Defi highlighted that SOL’s recent move ended a five-week downtrend, but the token remains far below its previous 2026 highs.

Governance proposals target tokenomicsTwo major governance initiatives are now under review on the Solana network, with potential implications for SOL’s supply and transaction dynamics. The first, referred to as SIMD-0550, proposes accelerating Solana’s annual disinflation rate from 15% to 30%, hastening the path to its target long-term inflation level. The second, SIMD-0553, would introduce resource-weighted transaction fees, possibly raising daily SOL token burns from the current 650 tokens to between 7,500 and 9,000 tokens.

The validator voting period for these proposals runs until August 18, and their adoption could fundamentally alter Solana’s economic structure if approved by the network’s consensus participants.

Mini dictionary: SIMD-0550/SIMD-0553, Solana governance proposals focused on supply reduction and transaction fee adjustment, respectively, each requiring validator approval for implementation.

On the institutional front, BlackRock, one of the world’s largest asset managers, has developed a fund system that allows recording ownership across several public blockchains, including Solana. Additionally, Western Union’s USDPT stablecoin now operates on Solana, facilitated through Anchorage Digital Bank and available in 37 jurisdictions as of May.

Key price levels and market outlookShort squeeze areas have been identified between $78 and $80, where liquidation of aggressive short positions could fuel additional upside if current support holds. The next significant resistance zone lies in the $82 to $84 range, while immediate liquidation clusters are centered from $77.80 to $78.20.

Crypto strategist Michaël van de Poppe underscored the importance of the support zone, noting that SOL has established a higher low versus Bitcoin—often interpreted as a bullish signal—and expressed expectations for potential moves toward $100 to $120 if momentum continues to build.

According to Michaël van de Poppe, SOL is holding a key support level and may accelerate toward $120 if strength persists.

Technical analyst Rod points to Fibonacci extension targets at $176.02 and $210.34 for longer-term gains, should SOL sustain a breakout and consolidation above the $90 to $100 area.

LevelRecent HighsNext ResistancesPotential Targets$72.49August 7 low$77.80–$78.20$80, $82–$84, $90–$100, $176.02, $210.34$97May high––$145January high––The Awesome Oscillator on the daily time frame is currently negative but improving, suggesting that selling momentum has weakened. A daily close above the Ichimoku cloud, now near $76.93, would boost the case for an advance toward $80 to $84.

Looking ahead, Solana’s upcoming upgrade, known as Alpenglow, seeks to decrease transaction finality times from 12.8 seconds to between 100 and 150 milliseconds. This enhancement is scheduled for phased rollout from August through October.

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.

Tl;dr Your Chain, Your Rules. As Arbitrum sees massive adoption by those building applications, infrastructure, and Orbit Chains, we’re hard at work on a variety of technical updates. These updates ensure that the usability, interoperability, and utility of Arbitrum continues to lead the adoption curve. Outlined below is the roadmap we intend to deliver, making your vision of blockchains a reality.

Your Chain, Your Rules.

As we set our (technical) course for the upcoming year, we at Offchain Labs remain steadfast in one of our core values: Your Chain, Your Rules. We continue to believe that blockchains are building a better internet, one with users and developers at the core. Using Arbitrum technology, builders can create powerful onchain apps and vibrant blockchain ecosystems. Users and institutions can safely steward themselves in a natively digital economy. Communities have the power to self-govern.

With this in mind, we encourage everyone interacting with Arbitrum chains to be visionaries, to stay curious, and to move forward with confidence knowing the tech just works.

The Roadmap

When we launched Arbitrum on August 31, 2021 (Arbitrum Day), we tackled the first major hurdle in blockchain adoption: scalability. Over the past three years, we’ve continued to scale, introduced entirely new capabilities, and created the most technically sound and open blockchain platform available.

As blockchain technology expands its reach across industries and gives rise to new ones, builders and users face the very challenges we’re committed to solving: fundamental usability, driving adoption, offering robust decentralization guarantees to users, and an infrastructure layer that just works.

We’re bridging the gap for builders and users by simplifying interactions with Arbitrum chains, driving wider adoption. Interoperability is at our core, allowing seamless navigation between chains using secure technology. We’re abstracting complex decision-making processes about ‘which stack or chain to use’ and creating the unified system.

It’s simple…Your Chain, Your Rules — giving you the freedom to innovate and build on a foundation you can trust.

DevEx, UX, and Adoption

To drive adoption we need to make building on blockchains more expressive, performant, and accessible for developers. Enter Stylus.

Stylus transcends the constraints of building on Ethereum by allowing developers to program in languages that compile to WebAssembly (WASM), like Rust, C, and C++.

Solidity has an important part of our history and an important part of our future as well; Arbitrum’s support for EVM isn’t going anywhere. At the same time, we must recognize that the number of Solidity developers and the corpus of existing code is far smaller than traditional programming languages. Stylus allows us to be more inclusive and welcome in a growing developer base without compromising the EVM experience for those who love it.

Stylus meets the growing need for performant and secure smart contract languages, while simultaneously expanding the design space for increasingly expressive onchain applications. In addition, Stylus is an efficient execution environment leading directly to gas savings for complex smart contracts. With Stylus, computation and memory costs can be significantly cheaper.

And you don’t have to wait…

If you’ve been around the Arbitrum ecosystem for a while, you know some of the biggest ecosystem launches happen on Arbitrum Day. (Well ok ok technically, Arbitrum Day falls on a holiday weekend in the US this year, so we’ll be observing it a few days late).

Arbitrum Stylus will go live on Arbitrum One and Nova mainnet on Arbitrum Day ushering in a new phase of innovation across the ecosystem and make the developer and user experiences even better. It’s the biggest execution layer upgrade to ever hit our industry.

Decentralization

The core ethos of blockchain technology, which values decentralization and trustlessness, is core to everything we build at Offchain and our future development plans for the Arbitrum technology stack. We are working on a number of near-term and future developments to strengthen foundational infrastructure, ensuring decentralization remains not just a theoretical concept, but a practical reality in the ecosystem:

BoLD (H2 2024): In addition to improved security, BoLD enables safe decentralized validation and moves Arbitrum closer to being a Stage 2 rollup, the final stage in L2 Beat’s stage definitions.Censorship Timeout (H2 2024): Building upon BoLD, Censorship Timeout limits the negative impact to Arbitrum chains from a repeatedly censoring or offline sequencer, potentially due to an attack. This provides stronger guarantees of censorship resistance to Arbitrum chains, and improves user fund access.Decentralized Sequencer (likely 2025): Decentralizing the Arbitrum sequencer is the last step in Arbitrum’s decentralization roadmap. A decentralized sequencer distributes the responsibility of transaction ordering across a broader, decentralized network of participants, reducing the risk of censorship attacks and enhancing reliability.At Offchain, we believe in the core ethos of blockchain tech and build products for decentralized adoption. The features mentioned in this post can be adopted by Arbitrum Orbit chains when available, or the Arbitrum DAO can vote in any or all of these technical upgrades to the chains it governs (Arbitrum One and Arbitrum Nova).

Interoperability and Horizontal Scaling

The introduction of Arbitrum Orbit ushered in a new era, empowering teams to innovate solutions for their own specific use cases. Arbitrum Orbit allows developers to customize their chains in any way they see fit. Our guiding principle remains: Your Chain, Your Rules. As builders focus on pushing boundaries, we’re committed to implementing significant performance and interop improvements by tackling fundamental engineering challenges. Our long-term strategy combines vertical and horizontal scaling efforts, enabling developers to accomplish more.

To unify the Arbitrum Ecosystem (Arbitrum Orbit, Arbitrum One, Arbitrum Nova, and Ethereum) we’re building towards frictionless interoperability between chains rooted in fast communication. Optimistic rollups offer the lowest cost and greatest flexibility, but their main barrier to horizontal scaling is the confirmation delay introduced by the challenge period. Longer confirmation time means that worst-case cross-chain communication may require days or alternatively placing trust in 3rd-parties.

We’re working on several interop solutions that will reduce these confirmation delays and enable horizontal scaling:

Fast Withdrawals (Q3 2024):The imminent release of Fast Withdrawals will enable AnyTrust chains to bypass the confirmation delay, and settle to their parent chain within minutes. These fast confirmations will enable sibling L2s (or L3s) to communicate quickly with one another, thereby enabling developers to shard workloads and scale horizontally.Chain Clusters(2025): Looking ahead into next year, we plan to further expand the toolbox of developers to horizontally scale Orbit chains with the release of Chain Clusters. By allowing multiple Orbit chains to closely align their ecosystem and infrastructure, Chain Clusters can be used to reduce cross-chain communication time from minutes to near-instant.Performance and Efficiency

From the very beginning, back in 2014, Arbitrum’s design has focused on performance and efficiency. Now, we’re looking to deliver the next iteration of enhancements in compute efficiency and performance with fundamental optimizations to execution.

Multi-client support (H1 2025): Arbitrum Nitro is the node software that powers all Arbitrum-based chains and is built on Geth, a Golang implementation of the execution specification for L1 Ethereum. Since the debut of Arbitrum Nitro back in August 31, 2022, many new Execution Layer (EL) client implementations have launched or improved significantly — all with varying and unique value propositions and optimization targets. As the stability and quality of these alternative clients have improved, Offchain Labs has been working towards readying the Arbitrum stack to support alternative clients.When we evaluate other clients, our main objective is to optimize at-head block production speeds which over time will (1) reduce the hardware cost of existing node operators and (2) pave the way for the safe increase of the speed limit (i.e. target throughput) on Arbitrum chains.

We have already begun testing and evaluating performance and benchmarks for several clients including Paradigm’s newly released Reth 1.0, Erigon 3.0, and Nethermind with the goal of delivering a production-ready multi-client implementation in 2025 and streamlining the process of adding additional clients down the road. Although our current analysis suggests that some alternative clients are still behind Geth in a few performance benchmarks, we believe that it’s prudent to ready the path for Arbitrum adoption as these clients further optimize.

Adaptive Pricing (H1 2025): On current EVM chains, gas limits are set to prevent nodes from over-consuming the most scarce computational resource. This means that the gas limit for a chain is always a worst-case assessment, designed to protect against a transaction load that uses a node’s most constrained resource.In contrast with a worst-case approach, Adaptive Pricing considers the actual resources being used and dynamically sets the gas limit accordingly. With Adaptive Pricing, the chain will only raise fees and throttle down resource consumption when a particular resource is approaching its actual limit, as opposed to a hypothetical maximum of what resources a different transaction might have used.

Adaptive Pricing will further enable scaling by allowing smart contracts to more efficiently use the full resources made available by nodes, and operate much closer to the true gas limit. Overall performance will increase without increasing the capacity of the network’s nodes. Adaptive Pricing also improves resilience versus extreme traffic patterns (e.g. inscriptions), where usage patterns change radically, but temporarily, by dynamically lowering gas limits only when necessary.

Zero-knowledge proofs

Offchain is committed to scaling Ethereum with the best possible technology stack. By constantly working at the limits of available technology, we can identify improvements to deliver into our scaling solutions. While today it’s clear that from the perspectives of stability, maturity, cost, and security, Arbitrum Nitro is the best stack to scale Ethereum, our research team has identified several paths where we can incorporate productive uses of zero knowledge (ZK).

In his 2023 medium post as well as recent talks at EthCC and SBC, our Chief Scientist Ed Felten presented a hybrid construction for how ZK can be integrated into Arbitrum chains. One particular area of active research studying ZK:

ZK+Optimistic Hybrid Proving: In the Arbitrum rollup and dispute resolution protocol, ZK proofs could eventually be used to instantly confirm assertions, acting as an optional and fast path to confirmation on the parent chain. Optimistic proving could still be used if ZK proofs are not provided. This enables users and developers on Arbitrum chains to access very fast native interoperability on an as-needed basis.Always Looking Ahead

At Offchain we are committed to creating solutions before problems arise. The monumental efforts to build three products ready for deployment this year — Stylus, BoLD, and Timeboost (click to learn more) — are proof points of Offchain Labs our research team is leading from the front. These innovations will make blockchains more accessible and support core values of decentralization.

Our deep bench of researchers, engineers, product managers, partnerships, marketers, and operations professionals push the boundaries of what can be done in this space. We build our products for you to innovate with the assumption that your infrastructure just works.

There is a lot more on the roadmap, but we wanted to share some of the mountains you’ll start to see moving in the near term.

Jito Finance [JTO] has quietly ranked among the market’s bullish tokens, holding its strength against the odds stacked up against most altcoins.

The asset surged roughly 11% over the past few days as sentiment shed some of its bearish pressure, extending a run that has delivered 131% across the past 90 days. This fresh surge, however, warrants a closer look in the short term, particularly on whether it can hold.

On-chain capital powers Jito’s recent surge Investor capital flowing into the protocol ranks among the factors driving Jito’s recent performance.

The Total Value Locked (TVL) climbed sharply over the past three days, rising by more than $44.12 million to reach $768.78 million at the time of writing.

A rising TVL often signals investors holding a long-term outlook on price, while also expecting to earn the yield attached to the locked capital.

Source: DeFiLlama The protocol’s own output points to another reason behind the token’s recent strength. Earnings data, which tracks gross profit excluding incentives, shows Jito has already booked roughly a third of its entire Q2 earnings just two months into Q3.

Total earnings have reached $489,140 at the time of writing, set against the $1.48 million booked through Q2, a solid mark for the protocol. Should Jito keep building on this, it would lend meaningful support to the token’s price and help the asset sustain the tempo of its rally.

Perpetual flows stay positive The perpetual market points to growing bullish appetite, with investors leaning long at a steady pace.

Capital tracked across the past 5 days, 3 days, and 24 hours shows inflows outpacing outflows, coming in at $109,920, $1.90 million, and $1.05 million.

These inflows tend to support price when the funding rate climbs alongside them. CoinGlass data showed the funding rate holding a moderately bullish position.

Source: CoinGlass The Funding Rate hit 0.0062% at the time of this report, while perpetual capital stood at roughly $41.08 million, pointing to more long positions than short ones.

Capital concentrating in favor of longs alongside a moderate inflow into the perpetual market often suggests the market has not overheated and price could hold up.

Jito’s Spot selling remains the caveat A sustained price rally typically needs simultaneous inflows into both the perpetual market and the spot market. Spot market data shows heavier selling as investors decline to hold the asset and take advantage of the rally to exit.

Source: CoinGlass The past day logged a netflow of $89,400, with the selling trend running for three consecutive days.

Spot selling without matching demand from perpetual traders would eventually weigh on price in the near term,  causing a decline.

Final Summary Jito’s rising TVL and strong Q3 earnings pace point to on-chain momentum behind JTO’s 11% surge, backed by positive perpetual inflows and a moderately bullish Funding Rate. Three straight days of Spot outflows signal that traders are selling into the rally, a demand gap that could weigh on JTO’s price if it persists.

@LayerZero_Core processed $6.195 billion in bridge volume over the past 30 days, according to @DefiLlama, yet the protocol retained just $131,592 in revenue and generated $121,095 in fees during that period. The numbers highlight a structural feature that is central to LayerZero's design: the protocol takes a 0% cut of its own messaging fees.

How the Revenue Model Works Rather than charging users directly for cross-chain messages, LayerZero takes a 0% protocol take rate on messaging fees, with protocol revenue instead funded by $ZRO buybacks sourced from the Stargate ecosystem allocation. Approximately 100% of messaging fees flow to DVNs and Executors, the external node operators that secure and deliver cross-chain messages.

Revenue generated by @StargateFinance, specifically fees collected from cross-chain swaps and transfers, is used to purchase $ZRO on the open market. For the first six months after Stargate's acquisition, revenue was split 50/50 between $ZRO buybacks and veSTG holders. That split ended in March, and starting April 2026, 100% of Stargate revenue goes to buying $ZRO.

Revenue Is Declining Quarter on Quarter Despite the volume figures, revenue generation has compressed sharply. Quarterly revenue has fallen from $1.14M in Q1 to $172.8K so far in Q3, a decline that reflects both softer market conditions and the protocol's deliberate choice to keep its fee take at zero.

LayerZero is currently in a state of having a large amount of traffic but no direct charges, a trade-off that has drawn scrutiny from analysts. The current monthly buyback of approximately 150,000 $ZRO tokens remains relatively small compared to monthly token unlock pressure, meaning a true valuation reassessment may need to wait for larger-scale revenue generated after a potential protocol-layer fee switch.

The broader context is that LayerZero acquired @StargateFinance for roughly $110 million in August 2025. LayerZero redirected Stargate DAO's revenue streams, previously allocated to STG stakers, toward $ZRO buybacks. The goal, as stated by the protocol, is to connect Stargate's fee income directly to $ZRO holder value over time. Whether the current revenue trajectory is sufficient to support that thesis remains an open question.

Sources:
LayerZero TVL, Fees and Revenue, DefiLlama
Understanding ZRO Buybacks, LayerZero
The ZRO Token, LayerZero

Hyperliquid, the Layer 1 blockchain that has quietly built one of the most active decentralized exchanges in crypto, now supports tokenized US equities through an integration with Chainlink’s Cross-Chain Interoperability Protocol (CCIP). The move brings xStocks, which are 1:1 backed tokenized versions of US stocks and ETFs, onto Hyperliquid’s spot trading infrastructure.

How the plumbing works Chainlink’s CCIP serves as the connective tissue between Hyperliquid and the broader multi-chain ecosystem. The protocol handles cross-chain token transfers through a burn-and-mint mechanism, meaning tokens aren’t just copied across chains. They’re destroyed on one side and recreated on the other, keeping supply in check.

Hyperliquid runs two layers: HyperCore, a custom-built order-book engine, and HyperEVM, an Ethereum Virtual Machine compatible environment. CCIP bridges the gap between HyperCore’s native tokens and ERC-20 tokens on HyperEVM, allowing assets from other chains to plug into Hyperliquid’s trading system.

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The cross-chain infrastructure also leverages xBridge, which initially focused on Ethereum-to-Solana transfers before expanding to support Hyperliquid. Together, CCIP and xBridge create a pipeline for tokenized assets to move across chains and land on Hyperliquid’s spot markets.

At least 10 xStocks tickers have registered for spot trading on the platform following auction processes, according to community reports. Tickers like AAPLx and NVDAx give users direct exposure to the underlying equities without leaving the DeFi ecosystem.

What xStocks actually are xStocks are tokenized representations of US equities and ETFs developed by Backed Finance, which is part of the Kraken Group. Each token is backed 1:1 by the corresponding underlying asset, meaning one AAPLx token represents one share of Apple stock held in reserve.

Until now, Hyperliquid was primarily known for perpetual futures trading, where it has carved out a dominant position among decentralized exchanges. Adding tokenized equities to its spot markets represents a meaningful expansion of its product surface area.

Why this convergence matters The CCIP integration on Hyperliquid has been live since July 2025, giving the infrastructure several months to stabilize before the xStocks rollout gained traction.

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

Hyperliquid [HYPE] faced intensifying selling pressure following a $2.03 million KuCoin whale deposit, as positive netflows strengthened exchange-side supply concerns. 

The exchange-bound transfer increased available supply while HYPE attempted to stabilize following its broader decline. The whale deposited 37.39K HYPE, worth approximately $2.03 million, to KuCoin six hours earlier. 

The same wallet also transferred 290.75K USDC, worth roughly $290.65K, to Kraken one hour earlier. However, the HYPE transaction carried greater significance because it directly increased exchange-bound token supply. 

Exchange deposits often expand immediately tradable supply, although they do not confirm completed sales. Therefore, the transaction strengthened distribution concerns rather than proving the whale had already sold. More importantly, broader spot flows supported the same direction, giving the transfer stronger bearish context.

Spot inflows strengthen the selling case Exchange flows had already shifted toward the supply side as the whale moved HYPE onto KuCoin. 

Spot Netflow reached approximately $1.24 million at press time, confirming inflows exceeded outflows during the latest recorded period. Previously, HYPE had registered substantial negative netflows, including several pronounced outflow spikes around late July. 

Those readings reflected tokens leaving exchanges and reduced the immediately available exchange supply. However, the latest positive reading marked a change from that withdrawal-heavy activity. 

The whale’s $2.03 million deposit reinforced the shift because both metrics pointed toward increased exchange availability. Although one positive session could not erase previous outflows, current conditions clearly favored incoming supply. 

Thus, the latest exchange activity gave sellers a stronger near-term position. Continued positive netflows would increase pressure on buyers to absorb additional HYPE supply.

Source: CoinGlass Whales stay active as retail participation cools Large traders had maintained their presence while broader market participation weakened across HYPE’s spot market. 

The Spot Average Order Size registered Big Whale Orders, highlighting continued activity from larger market participants. 

Meanwhile, the Spot Volume Bubble Map was cooling, pointing toward weaker participation across the wider spot market. This divergence gave whales greater influence over HYPE’s immediate market direction. 

Notably, exchange activity provided a bearish direction to their growing influence. Positive spot netflows reached $793.92K, while one whale deposited $2.03 million in HYPE to KuCoin. 

Therefore, whale activity increasingly favored the supply side as broader participation cooled. Retail demand appeared less capable of counterbalancing incoming exchange supply under those conditions. 

Unless broader participation strengthens, whale-driven exchange inflows could keep sellers dominant and restrict HYPE’s recovery.

Source: CryptoQuant Improving MACD gives HYPE a recovery chance Despite stronger supply pressure, HYPE defended $53.67 and preserved an opportunity for another recovery attempt. 

Price reached approximately $54.65 after rebounding from the lower area of its descending structure. Yet, the descending trendline continued restricting upside progress below the $57.10 resistance. 

MACD had improved during the rebound, adding some technical support for buyers. At press time, its line reached -1.93, above the -2.23 signal line, while the histogram climbed to 0.30. Both MACD lines remained below zero, however, leaving the broader recovery unfinished. 

RSI had reached 43.42, above its 39.57 average, but remained below the neutral 50 threshold. A sustained recovery could challenge $57.10 and potentially expose $62.48 afterward. Failure around resistance would keep $53.67 vulnerable, while a breakdown could reopen $51.09.

Source: TradingView Final Summary HYPE exchange inflows and whale activity currently give sellers the stronger near-term position. Holding $53.67 keeps recovery alive, but $57.10 remains the crucial upside hurdle.