Grayscale’s XRP Trust v 1. pololetí 2026 prodal XRP za více než 180 milionů USD kvůli vlně odkupů. Fond odprodal asi 103 milionů XRP a vykázal ztrátu kolem 34 milionů USD.
Grayscale’s XRP Trust has disclosed that it sold over $180 million worth of XRP during the first half of 2026, following a spike in investor redemptions. The regulatory filing, dated through June 30, indicates the fund offloaded approximately 103 million XRP tokens within this six-month period.
Redemptions Drive Major XRP OutflowsTo meet redemption requests from investors, the trust had to liquidate a significant portion of its XRP holdings. The realized losses from these sales totaled about $34 million, while unrealized losses continue to remain on the books due to the lower residual market value of its remaining assets.
Grayscale’s trust mechanism delegates creations and redemptions to authorized participants. As a result, XRP was sold mechanically, rather than by discretionary decisions from Grayscale’s managers, reflecting the fund’s open-ended structure.
New contributions and inflows during the period failed to keep pace with large-scale withdrawals, leading to a marked reduction in both the trust’s XRP balance and overall net asset value.
Wider Market Impact and XRP Price MovementsThe large redemptions from Grayscale’s XRP Trust coincided with notably weaker sentiment across XRP-related investment products. Other funds linked to XRP have also recorded significant outflows, while trading activity in derivatives markets has waned. Over the same period, XRP’s price hovered in a narrow range near $1.05 to $1.07, with market participants closely tracking the $1 level for signals of either renewed buying or further declines.
This pattern underscores how redemption-driven selling can translate into substantial spot market pressure on underlying cryptocurrencies. In assets with lighter liquidity or stronger sentiment swings, such selling may accelerate price moves to the downside.
The regulatory update confirms that escalating redemptions required mechanical sales of over 100 million XRP, resulting in $34 million in realized losses for the trust, with further unrealized losses unsettled in the portfolio.
Blockchains, Real-World Integration, and Market InnovationWhile the XRP Trust navigates outflows and price volatility, the broader market continues to advance with new platforms facilitating more seamless access to both digital and traditional assets. For instance, 1stepSwap offers investors a streamlined way to hold real-world assets—including shares of major U.S. companies and commodities like gold and silver—directly in their crypto wallets. The key innovation lies in the platform’s ability to source the best available market price instantly, letting users transact leading global equities and diversify portfolios quickly and efficiently without the need for intermediaries or complex processes.
Industry analysts caution that ongoing changes in investor flows, coupled with the emergence of new on-chain solutions for holding traditional assets, could shape how capital migrates within both the crypto and broader financial ecosystem.
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.
Ripple se připojil k britské vládní pracovní skupině, která má pilotně ověřit tokenizaci na blockchainu na repo trhu. Projekt míří na trhy v hodnotě 33 miliard GBP a první ostrý pilot má přijít na jaře 2027.
Dr. Kamilah Stevenson reported that Ripple has joined a UK government initiative aimed at modernising wholesale financial markets using blockchain technology. She described this development as more significant than a standard business partnership, given the involvement of government bodies in shaping future market standards.
UK Treasury leads digital market modernisationStevenson highlighted the role of the UK Treasury’s Wholesale Digital Markets Taskforce, which has been tasked with establishing operational guidelines for the tokenisation of institutional finance. This effort seeks to lay the foundation for integrating distributed ledger technology across key components of the financial system.
According to Stevenson, Ripple is involved in the taskforce’s tokenisation plans and collaborates with the government-appointed Wholesale Digital Markets Champion. She emphasized that government participation is crucial because standards set at this level could shape how banks, funds, and infrastructure providers operate for years to come.
Ripple is supporting the UK government’s initiative on tokenisation strategy, with Treasury involvement potentially influencing the standards financial institutions will follow in the future.
Major tokenisation initiative targets repo marketsA government plan cited by Stevenson estimates the initiative’s potential value at approximately £33 billion, with a projection of £14 billion in extra annual tax revenue by 2035. These figures suggest that UK officials view tokenised markets as a key economic priority, moving beyond simple technology trials to large-scale policy projects.
The initiative is expected to debut in the repurchase agreement (repo) market, targeting testing and a live pilot for spring 2027. Repo markets play a central role in daily bank funding, involving short-term loans in which institutions swap securities, like government bonds, for cash before reversing the transaction.
Transferring repo processes to a blockchain could reduce the need for manual reconciliation, streamline the transfer of collateral, and enable immediate ownership updates. However, successful market adoption would depend on legal clarity, dependable technology infrastructure, and broad industry participation.
Mini dictionary: Repurchase agreement (repo) — A short-term borrowing mechanism in which financial institutions sell securities and agree to repurchase them at a later date, commonly used to manage day-to-day funding and liquidity needs in the banking sector.
MetricEstimated Value/ProjectionInitiative’s potential value£33 billionProjected annual tax revenue by 2035£14 billionFirst live pilot target dateSpring 2027XRP Ledger and the trend toward institutional adoptionStevenson also noted Ripple’s earlier partnership with Aviva Investors, a major UK fund manager overseeing about £253 billion in assets. In this initiative, Aviva began its first steps toward tokenising traditional funds on the XRP Ledger, Ripple’s blockchain-based settlement network.
She said tokenised real-world assets on the XRP Ledger grew from around $150 million to about $4 billion over one year, spanning more than 500 products. However, the source of these figures was not independently verified and should be viewed as estimates presented by Stevenson.
Stevenson distinguished between adoption by private companies and adoption driven by policymakers. She argued that government endorsement usually leads to the creation of broader industry standards, stating, “Companies choose vendors, governments choose standards.”
The transition to regulated blockchain infrastructure may no longer depend on whether institutions will use distributed ledger technology, but on which networks and settlement rails become embedded within formal market operations.
Participation in a Treasury-supported pilot does not guarantee a specific outcome for XRP or exclusive use of the XRP Ledger. Still, the involvement signals a shift as tokenisation progresses from experimental stages toward integration with core market infrastructure.
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.
Canary XRP ETF v první polovině roku 2026 klesl v čistých aktivech o 81,6 milionu USD na 241,2 milionu USD, i když čistý příliv kapitálu činil 82,4 milionu USD. Hlavní brzdou byl pokles hodnoty XRP, který převážil nové emise podílů.
Canary Capital’s XRP exchange traded fund ended the first half of 2026 with $81.6 million fewer net assets even after positive capital share activity added $82.4 million.
Summary
Canary XRP ETF ended June with $241.2 million, down $81.6 million from December despite creations. Net capital share transactions added $82.4 million, while operations reduced assets by $164.0 million overall. Unrealized XRP depreciation accounted for $159.7 million of the fund’s operational decline during 2026 midyear. XRP holdings climbed 31.7% to 231.3 million tokens, even as their dollar value declined sharply. XRPC posted a 42.84% NAV loss during 2026’s first six months, according to Canary data. An Aug. 7 SEC filing shows that falling XRP valuations more than offset the increase in shares during the six months through June 30.
The unaudited Form 10 Q puts XRPC’s net assets at $241.17 million on June 30, down from $322.82 million at the end of 2025. Meanwhile, outstanding shares increased from 16.49 million to 21.77 million as the fund created 5.65 million shares and redeemed 370,000. XRP itself fell 43.27% from $1.84 to $1.04 over the same period.
Investors poured $82 million into Canary’s XRP ETF, but falling prices erased double what they put in
One large allocation or the start of a broader bid? pic.twitter.com/z2cGvbw7hs
— Xora Finance (@xora_finance) August 10, 2026 Canary XRP ETF added shares while XRP erased value The accounting behind the decline shows two forces moving in opposite directions. XRPC recorded $88.26 million from shares sold and $5.90 million from shares redeemed. The resulting $82.36 million increase from capital share transactions was outweighed by a $164 million decrease in net assets from operations.
Most of that operational decline came from XRP rather than fees. The fund recorded $159.70 million in unrealized depreciation, $3.59 million in realized investment losses and $716,898 in sponsor fees during the six month period. Unrealized depreciation was therefore almost twice the value added through net capital share transactions.
The contrast follows an initially strong reception for the fund. As crypto.news reported in its launch day coverage, XRPC generated about $58 million in trading volume when it debuted on Nasdaq in November 2025, making it one of that year’s largest new ETF launches by first day volume.
The $82 million figure is not simply investor cash inflow The $82.36 million increase should not be treated as $82.36 million of retail investors depositing cash into XRPC. Canary’s SEC prospectus allows authorized participants to create and redeem baskets using either cash or XRP. Investors trading XRPC shares on Nasdaq do not directly create or redeem shares with the trust.
The latest filing shows the distinction clearly. XRPC purchased 34.13 million XRP valued at $52.20 million during the first half, while another 25.93 million XRP valued at $36.05 million entered the trust through in kind share creations. The fund also sold 3.93 million XRP worth $5.90 million to meet redemptions and reported no XRP distributed in kind for redemptions.
Accordingly, the filing supports describing the $82.36 million as net capital share activity rather than a direct measure of investor cash inflows. It does show that creation activity exceeded redemptions during the period.
XRPC held 31.7% more XRP but the position was worth less XRPC’s XRP holdings increased from 175.63 million tokens at the beginning of 2026 to 231.28 million on June 30, a rise of about 31.7%. Yet the fair value of the XRP position fell from $322.97 million to $241.28 million because the underlying asset declined sharply.
That disconnect has also appeared across the wider U.S. XRP ETF market. In related ETF flow coverage, crypto.news reported in July that cumulative inflows across spot XRP funds remained well above their combined net assets as falling token prices reduced portfolio values.
The price weakness does not mean creations stopped altogether. More recent fund flow reporting showed XRP ETFs recording fresh net inflows on July 29 after a four day pause, while XRP remained near the $1.10 area.
XRPC assets slipped further after the June quarter Canary’s latest published fund data shows XRPC remained below its June level after the reporting period. Net assets stood at $237.38 million on Aug. 7, with both NAV and market price at $10.85. Shares outstanding had increased to 21.87 million from 21.77 million at June 30.
The same data puts XRPC’s NAV return at negative 43.93% for 2026 through Aug. 7, compared with negative 42.84% through June 30. Its market price return was negative 44.22% year to date. Those figures show that the valuation pressure documented in the SEC report had not fully reversed by early August.
For XRPC, the next financial filing will provide another formal snapshot of whether continued share creation can offset movements in XRP’s price. The first half results already make the current dynamic clear: the trust accumulated substantially more XRP, but the falling value of each token left the fund with fewer dollars in net assets.
Güney Kore merkezli kripto para borsası Upbit, CYS, ICNT, XAN, EDEN, AIOZ ve ALLO için yeni işlem desteği başlatacağını duyurdu. Altı altcoin, BTC ve USDT piyasalarında işlem görecek.
Borsa, ilk duyurusunda işlemlerin 10 Ağustos saat 14.00 KST’de başlamasını planladı. Ancak daha sonra yaptığı güncellemeyle listeleme başlangıcını 17.00 KST’ye, yani Türkiye saatiyle 11.00’e erteledi.
Yeni listelemelerle birlikte Upbit kullanıcıları aynı gün altı farklı token için yeni işlem çiftlerine erişebilecek.
Upbit Hangi Altcoinleri Listeliyor? Upbit’in duyurusuna göre yeni işlem desteği alacak altcoinler şöyle:
CYS (Cysic) ICNT (Impossible Cloud Network) XAN (Anoma) EDEN (OpenEden) AIOZ (AIOZ Network) ALLO (Allora) Altı varlığın tamamında BTC ve USDT işlem piyasaları açılacak.
Ancak tokenların kullanılacağı blockchain ağları birbirinden farklı.
Altcoinlerin Ağları Belli Oldu Upbit’in duyurusunda CYS ve ICNT için Base ağı destekleniyor.
XAN, EDEN ve AIOZ için ise Ethereum ağı kullanılacak. ALLO’nun yatırma ve çekme işlemleri ise Allora ağı üzerinden gerçekleştirilecek.
Borsa, kullanıcıları yatırma işlemi öncesinde doğru ağı kontrol etmeleri konusunda ayrıca uyardı. Duyuruda belirtilen ağlar dışındaki transferlerin desteklenmeyeceği belirtildi.
Bu nedenle yeni listelemelerde yalnızca işlem piyasalarının değil, yatırma ve çekme ağlarının da kontrol edilmesi gerekiyor.
Yeni Listelenen Altcoinlerde İşlem Kısıtlaması Var Upbit, yeni işlem desteği verilen varlıklar için geçici işlem sınırlamaları da uygulayacak.
Borsanın duyurusuna göre işlem başladıktan sonra yaklaşık 5 dakika boyunca alış emirleri kısıtlanacak. Ayrıca önceki kapanış fiyatının %10 altında satış emri verilmesine yönelik sınırlama uygulanacak.
Bunun yanında işlem başladıktan yaklaşık 2 saat boyunca piyasa emri gibi belirli emir türleri kullanılamayacak. Bu süreçte yalnızca limit emirleri desteklenecek.
Upbit, söz konusu fiyat sınırlarının CoinMarketCap tarafından sağlanan fiyat verileri temel alınarak belirleneceğini açıkladı.
CYS, ICNT, XAN, EDEN, AIOZ ve ALLO Nedir? Upbit’in proje açıklamalarına göre altı token farklı blockchain ve Web3 alanlarına odaklanıyor.
CYS, Cysic’in ComputeFi ekosisteminde kullanılan token olarak öne çıkıyor. Proje, GPU, ASIC ve diğer donanım kaynaklarını merkeziyetsiz bir yapı üzerinden kullanılabilir hale getirmeyi hedefliyor. ICNT, Impossible Cloud Network’ün DePIN tabanlı bulut altyapısında kullanılıyor. Proje, depolama, GPU ve CPU gibi fiziksel donanım kaynaklarını merkeziyetsiz bir ağ üzerinden hizmetlere bağlamayı amaçlıyor. XAN, Anoma ekosisteminin yönetişim tokenı olarak kullanılıyor. Anoma, farklı blockchainleri tek bir ortamda birleştirmeyi hedefleyen merkeziyetsiz bir altyapı geliştiriyor. EDEN, OpenEden’in RWA odaklı ekosisteminde yer alıyor. Proje, gerçek dünya varlıklarını blockchain üzerinde kullanıma sunmaya yönelik finansal ürünler geliştiriyor. AIOZ, merkeziyetsiz depolama, içerik dağıtımı, video ve yapay zeka altyapısına odaklanan AIOZ Network’ün yerel tokenı olarak kullanılıyor. ALLO ise Allora’nın merkeziyetsiz makine zekası ağı içinde hizmet, staking, yönetişim ve ödül mekanizmalarında kullanılıyor. Upbit Listelemesi Altcoinler İçin Neden Önemli? Altı tokenın aynı anda Upbit’te BTC ve USDT piyasalarında işlem görmeye başlaması, bu varlıkların Güney Kore’deki önemli bir kripto para borsasında yeni işlem erişimi kazanması anlamına geliyor.
Ancak listeleme kararı token fiyatının bundan sonra yükseleceği anlamına gelmiyor. Yeni işlem desteğinin fiyat üzerindeki etkisi; likidite, işlem hacmi ve yatırımcı talebi gibi farklı faktörlere bağlı olabilir.
Şimdilik kesin olan gelişme ise Upbit’in CYS, ICNT, XAN, EDEN, AIOZ ve ALLO için işlem desteğini başlatması ve listeleme saatini 17.00 KST olarak güncellemesi.
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.
Experti varují, že kvantové počítače by mohly do roku 2028 prolomit dnešní kryptografii a ohrozit Bitcoin i stablecoiny. Nejzranitelnější mají být administrativní klíče u USDT.
The prospect of quantum computers breaking today’s cryptographic defenses is raising urgent concerns among blockchain security experts. Analysts believe that the first indication of quantum-powered breaches may not be high-profile thefts, but a series of unexplained breaches targeting multiple crypto wallets at once.
Quantum computers and blockchain securityQuantus Network CEO and co-founder Christopher Smith warned that a sufficiently advanced quantum computer could derive private keys from public ones exposed on blockchain networks. This capability would allow attackers to move funds without infiltrating wallets, devices, or exchange infrastructures. Smith noted that in such events, there would be no discernible traces of how the breach occurred: only the fact that funds had been withdrawn.
His warning follows significant progress in quantum algorithms, which have recently reduced the estimated computational resources necessary to attack elliptic-curve cryptography—a mechanism widely used by leading blockchains for security.
Quantum computing refers to a new paradigm in computation, leveraging quantum bits (qubits) to solve certain problems much faster than classical computers.
Mini dictionary: Elliptic-curve cryptography is a method of encrypting data that relies on the mathematics of elliptic curves, widely used for its efficiency in securing digital transactions and communications.
Potential quantum targets in cryptoWhile much of the crypto community’s concern centers on the fate of Satoshi Nakamoto’s untouched Bitcoin—valued at $63 billion—Smith suggested that more attractive targets could be found elsewhere. He identified administrative keys for multi-chain stablecoins such as Tether’s USDT as especially valuable. According to Smith, a successful quantum attack on such administrative wallets could enable malicious actors to rapidly mint new tokens and flood the market before issuers had time to react.
Tether, the company behind USDT, manages the world’s largest stablecoin, which operates across several blockchains. Some of these networks have already taken initial steps to prepare for a post-quantum cryptography era.
Security researcher Sean Cheetham from Blockchain Capital predicted that attackers might avoid high-visibility targets and instead quietly access exchange “hot wallets,” which routinely handle user funds and are often linked to public keys.
Smith emphasized that an attacker could disguise a quantum theft as a standard compromise, providing alternative explanations such as a lost key, thus delaying detection.
Cheetham explained that such incidents would appear ordinary, as the true method of compromise would remain undetected under current investigative techniques.
Timeline for quantum riskRecent advances in artificial intelligence are accelerating the potential impact of quantum computing. In March, Google pushed up its post-quantum transition plans to 2029, following an AI-assisted breakthrough indicating that cracking elliptic curve cryptography could require fewer qubits than previously anticipated.
Roy Blackstone, CEO of crypto security firm NGRAVE, remarked that earlier quantum risk assessments did not anticipate such rapid progress in AI and quantum algorithm research.
Despite these developments, estimates for when a quantum computer will be capable of breaking cryptographic protections remain highly variable. Smith, who leads Quantus Network, said there is a “50-50” chance this milestone could be reached by 2028, given the current pace of research.
Cheetham forecasted that the early 2030s were almost a certainty for the arrival of this technology, though he acknowledged an earlier breakthrough remains possible. Michael Coates, chief information security officer at the Solana Foundation, declined to offer a timeline, stating that uncertainty prevails and the timeframe has constantly shifted.
Blackstone observed that despite disagreements over timing, major blockchain networks are already preparing for post-quantum migration. He warned that failure to do so could have disastrous consequences.
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.
Zcash se drží nad 500 USD, zatímco shielded supply se přesouvá z Orchard do Ironwood poolu. Orchard za 24 hodin klesl téměř o 17 % na 1,49 milionu ZEC, Ironwood vzrostl o 15 % na 2,30 milionu ZEC.
Zcash (ZEC) hovers above $500 on Monday, extending a sideways move above its 50-day Exponential Moving Average (EMA) at $490. The privacy coin experiences a shift in shielded supply to the Ironwood pool, from the old Orchard pool amid easing retail demand in Zcash futures. The technical outlook for ZEC is mixed, as the price hovers above the 50-day and 100-day EMAs at $490 and $469, respectively, yet lacks bullish momentum.
Why is Zcash's shielded supply moving to Ironwood Pool?Zcash developers discovered a four-year-old vulnerability in late May that could allow the minting of counterfeit coins, raising security concerns among privacy coin users. ZEC provides a store of value for users prioritizing financial privacy through its shielded transaction features, which conceal transaction data. However, the counterfeit vulnerability could have destroyed its store of value by minting a fake supply of ZEC tokens.
To patch the issue, Zcash developers deployed an emergency hard fork on June 3, followed by the major Ironwood network upgrade in late July 2026.
Zkp.baby data shows the migration from Orchard to the Ironwood pool in progress. Orchard pool is down nearly 17% over the last 24 hours to 1.49 million ZEC, while the Ironwood pool is up 15% to 2.30 million ZEC in the same time period. In addition, the total shielded supply at 4.36 million ZEC is holding steady after a V-shaped rebound from the August 1 low of 3.65 million ZEC, indicating a mild recovery in the privacy coin adoption.
Zcash Shielded Supply. Source: Zkp.babyIs Zcash losing speculative demand?Retail demand for the privacy coin is easing in the near term as the broader crypto market remains risk-averse. CoinGlass data shows the ZEC futures Open Interest (OI) is down nearly 2% over the last 24 hours to $874.29 million, indicating a contraction in positional buildup. At the same time, the funding rate at 0.0075%, down from 0.0098% the previous day, maintains a bullish bias while reaffirming easing demand for long positions.
Zcash derivatives data. Source: CoinGlassTechnical outlook: Could Zcash extend its rally above $550?Zcash holds above $500 on Monday, maintaining a constructive near-term bias. The privacy coin holds above the 50-day, 100-day, and 200-day EMAs at $490, $469, and $414, respectively, reinforcing an underlying uptrend structure.
Momentum is mildly positive, with the Relative Strength Index (RSI) hovering at 53 just above the midline and the Moving Average Convergence Divergence (MACD) line moving flat above its signal line, hinting that buyers are struggling to assert dominance.
On the topside, bulls face their first resistance at the 78.6% Fibonacci retracement level, measured over the recent upswing from the $368 low to the $589 high, at $532. The overhead resistance trendline near $548 reinforces the initial cluster, while a sustained break above these hurdles would open the way to the swing high zone around $589.
ZEC/USDT daily price chart.On the downside, initial support emerges at the 50-day and 100-day EMAs around $490 and $469, followed by the 50% retracement at $465.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Coinsbuy, a digital asset processing platform built for enterprise and merchant clients, was hit with a major security breach that drained more than $7.9 million from wallets across the Ethereum and TRON networks. The attack, identified on August 10, marks the first publicly known hack of the platform since it launched around 2019.
What makes this one particularly thorny for investigators: the attacker funneled a portion of the stolen crypto into Monero, the privacy coin specifically designed to make transaction tracing as difficult as possible.
How the attack unfolded On-chain monitoring by Specter flagged suspicious activity tied to Coinsbuy-linked wallets, revealing that funds were being systematically drained across two of the industry’s most widely used networks. The attacker targeted assets on both Ethereum and TRON, suggesting either compromised private keys or a vulnerability in how Coinsbuy managed its multi-chain wallet infrastructure.
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After siphoning the funds, the hacker moved quickly to obscure the trail. Portions of the stolen crypto were routed through various exchanges and converted into Monero (XMR), a coin whose privacy features make it notoriously resistant to blockchain forensics.
Damage control and frozen funds Coinsbuy partnered with ChangeNOW, a non-custodial crypto exchange, to freeze a six-figure sum of the stolen assets before the attacker could fully liquidate them.
As a precautionary measure, Coinsbuy temporarily suspended all deposit and withdrawal services across its platform. The pause was relatively brief, with operations restored shortly after.
Current investigations suggest the breach was an isolated incident rather than evidence of some deeper systemic vulnerability within Coinsbuy’s infrastructure.
Why enterprise crypto platforms are increasingly in the crosshairs Coinsbuy occupies a specific niche in the crypto ecosystem. Rather than serving retail traders, it provides digital asset processing tools for businesses and merchants. The platform has operated in this space since roughly 2019, largely flying under the radar of the broader crypto community.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Trump Media and Technology Group terminated its planned Cronos treasury venture with Crypto.com and Yorkville on August 7. The retreat signals that the corporate crypto treasury thesis, built on the premise that holding tokens is a balance sheet strategy, is running into the same saturation problem it was supposed to solve.
Summary
Trump Media and Technology Group, Crypto.com, and Yorkville Acquisition Corp mutually terminated the CRO Strategy treasury venture on August 7, 2026, ending a deal announced in August 2025 that was billed as the first and largest publicly traded CRO treasury firm with an initial $6.42 billion war chest. Interim CEO Kevin McGurn told Axios that saturation among corporate crypto treasury companies drove the decision, not regulatory pressure, and that Trump Media will instead concentrate on Truth Social, data licensing revenue, and a pending merger with fusion energy company TAE. The original deal involved Trump Media purchasing approximately $105 million in CRO tokens (684.4 million tokens at roughly $0.153 each) while Crypto.com purchased $50 million in Trump Media shares, creating a cross-investment structure that tied both companies to CRO price performance. The retreat follows a $406 million quarterly loss driven by crypto asset markdowns, raising questions about whether token treasury strategies can survive extended periods of price stagnation or modest drawdowns in the assets they are designed to accumulate. CRO traded near $0.0513 on August 7 with a market capitalization of roughly $2.4 billion, ranking 38th overall, a fraction of the valuation environment that existed when the deal was structured and announced. On August 7, 2026, Trump Media interim CEO Kevin McGurn told Axios that the company had terminated the CRO Strategy venture, the services agreement, and the digital asset product suite that accompanied the original deal. The companies also abandoned a related prediction market integration. Yorkville Acquisition Corp, the blank check vehicle created to take the treasury venture public, agreed to the termination. McGurn cited saturation. The treasury sector, he said, had become crowded.
The deal between Trump Media and Crypto.com was announced with the kind of numbers that attract headlines. A $6.42 billion treasury play. A branded entity called Trump Media Group CRO Strategy. A SPAC vehicle to take it public. The premise was simple: acquire CRO tokens at scale, hold them on a public balance sheet, and let market appreciation create shareholder value. The strategy echoed what MicroStrategy had done with Bitcoin, but applied to a token that was orders of magnitude smaller in market capitalization, less liquid, and tied to a single exchange ecosystem. The termination, coming less than a year after the announcement, is not just a deal falling apart. It is the first major public admission that the corporate crypto treasury model may have structural limits that its promoters did not advertise.
What the CRO Strategy deal was supposed to build The original announcement in August 2025 outlined a multi-layered financial structure. Trump Media would purchase approximately $105 million in CRO tokens, acquiring 684.4 million tokens at a price of roughly $0.153 per token. Crypto.com would purchase $50 million in Trump Media shares, creating a reciprocal ownership link between the media company and the exchange. The two parties would then form Trump Media Group CRO Strategy, a dedicated entity designed to function as a publicly traded digital asset treasury.
Yorkville Acquisition Corp, a blank check company, would serve as the public listing vehicle. The SEC filing described the venture as the first and largest publicly traded CRO treasury firm, a designation that was accurate only because no one else had attempted the same structure with that specific token.
The deal also included a services agreement covering digital asset product development and a prediction market integration called Truth Predict, which would embed betting features inside Truth Social using Crypto.com Derivatives North America as the infrastructure provider.
The combined structure tied Trump Media to CRO price performance in multiple ways: through direct token holdings, through the treasury entity, through the SPAC listing, and through the product integrations that assumed continued engagement with the Cronos blockchain ecosystem. The multi-layered exposure was presented as strategic depth at the time of the announcement. In retrospect, it created a situation where CRO price weakness propagated through every component of the deal simultaneously, amplifying the downside in a way that a simpler structure would not have.
The valuation environment that produced the deal was also unusual. At the time of the announcement, corporate crypto treasuries were attracting premium multiples from investors who treated token accumulation as a growth strategy. Trump Media’s management appears to have structured the CRO Strategy venture to capture that premium. When the premium disappeared and the valuation environment shifted, the economic rationale for the deal evaporated alongside it.
Why the parties walked away McGurn framed the termination around focus and saturation rather than failure. “We wanted to get focused,” Axios reported him saying. He characterized the crypto treasury sector as overcrowded, arguing that the competitive dynamics had shifted since the deal was announced.
The saturation claim has some factual basis. Between the second half of 2025 and mid 2026, more than 30 public companies announced crypto treasury strategies of various sizes. Most were modeled on the MicroStrategy template: issue equity or convertible debt, buy Bitcoin, and report the holdings as a core balance sheet item. The Trump Media venture stood apart because it targeted CRO rather than Bitcoin, but the underlying logic was the same.
What McGurn did not say is arguably more revealing than what he did. He did not claim the deal was restructured or paused. He confirmed mutual termination, meaning all three parties agreed that the venture no longer served their interests. The services agreement was also terminated. The prediction market integration was downgraded from a full product to a marketing arrangement.
McGurn added that staking CRO had become less central for Crypto.com itself, making a split logical for both sides. That detail matters. If the exchange that issues a token is de-emphasizing it, the case for a third party to build a treasury around it weakens considerably.
The $406 million loss that changed the math The termination did not occur in a vacuum. Trump Media reported a $406 million quarterly loss earlier in 2026, driven primarily by markdowns on its digital asset holdings. The loss was not a realized trading loss in the traditional sense. It reflected the accounting treatment of crypto assets under fair value rules, where price declines flow directly through the income statement.
For a company with limited operating revenue, a nine figure markdown on token holdings is not a rounding error. It is a thesis test. The crypto treasury model assumes that holding tokens creates long term value for shareholders. But the same model forces the company to report price declines as losses, creating quarterly volatility that public market investors tend to punish.
MicroStrategy, the original corporate Bitcoin treasury, has navigated this problem by leaning into it. The company rebranded as Strategy, made Bitcoin accumulation its primary corporate identity, and attracted a shareholder base that understood and accepted the volatility. Trump Media was not positioned to make the same bet. Its core business is a social media platform. Its shareholders purchased the stock for reasons that included but were not limited to the crypto treasury thesis. When the token holdings produced a loss that exceeded the company’s operating revenue by orders of magnitude, the strategic case for continuing became harder to make.
The regulatory environment added complexity. While McGurn explicitly denied that regulatory pressure drove the termination, the broader landscape has shifted. The GENIUS Act and related legislative efforts have introduced new compliance requirements for companies holding digital assets at scale. Whether those requirements directly affected the CRO Strategy venture or simply increased the cost of maintaining it is an open question that the termination announcement did not address.
The accounting treatment itself deserves closer examination. Under ASC 820, crypto assets held at fair value require quarterly mark to market adjustments. When token prices rise, the company reports unrealized gains that flow through its income statement, inflating earnings in ways that may attract shareholders who mistake accounting gains for operating performance. When prices fall, the reverse occurs, and the company must explain why its core business lost hundreds of millions of dollars in a quarter where nothing operationally changed. The asymmetry between the two scenarios creates a ratchet effect: the company captures enthusiasm during price increases but faces existential questions during declines. For a company like Trump Media, whose operating revenue from Truth Social was in the low tens of millions annually, a $406 million markdown made the treasury strategy the dominant item on the income statement, overshadowing every other aspect of the business.
Truth Predict and the prediction market retreat The CRO Strategy termination was not the only product that got scaled back. Truth Predict, the prediction market feature that Trump Media unveiled in October 2025, was also restructured.
The original plan embedded betting features inside Truth Social, powered by Crypto.com Derivatives North America. Users would trade prediction market contracts without leaving the social media platform. The integration assumed that Truth Social’s user base represented a captive audience for event contracts on politics, sports, and financial outcomes.
Under the new arrangement, the companies will pursue a marketing partnership rather than a full product integration. Crypto.com will promote its prediction products to Truth Social users, but Trump Media will not operate the back end infrastructure. McGurn argued that the space was already crowded with prediction market operators and that running infrastructure offered little return compared to simply distributing someone else’s product.
The reasoning reveals a broader shift in how Trump Media sees itself. The company is moving away from operating crypto infrastructure and toward licensing its brand and audience as distribution assets. That pivot is visible in its API business, which now serves roughly 10 customers (up from about five), most of whom are high frequency trading firms that feed Truth Social data into algorithmic strategies. McGurn said the company is also courting large language model developers and prediction market platforms as API customers.
The transition from infrastructure operator to data licensor is a meaningful strategic shift. It reduces Trump Media’s exposure to the operational risks of running crypto products while creating revenue streams that do not depend on token price performance. Whether the data licensing business can generate enough revenue to replace the value that was supposed to come from the treasury venture remains to be seen.
The prediction market landscape that existed when Truth Predict was conceived looked different from the one that emerged by mid 2026. At the time of announcement, Polymarket was the dominant player and the only U.S. focused platform with meaningful liquidity. By August 2026, Kalshi had expanded into event contracts for political and financial outcomes, Robinhood had added prediction market features to its mobile app, and several crypto native platforms had launched competing offerings. The window for Truth Social to capture a meaningful share of the prediction market audience had narrowed considerably, and the cost of operating back end infrastructure for a feature that would compete with well funded competitors no longer justified the investment when a simpler marketing arrangement could provide the same user exposure at a fraction of the cost.
The API pivot also reframes Truth Social’s value proposition. Under the treasury model, Truth Social was a distribution channel for crypto products. Under the data licensing model, it is a source of sentiment signals that have value to financial firms. The platform’s concentrated user base, which skews toward politically engaged American adults, generates text and engagement data that reflects a demographic segment that is underrepresented in other social media sentiment feeds. High frequency traders and LLM developers are willing to pay for access to that signal precisely because it is different from what Twitter, Reddit, or Stocktwits provides. The commercial value of the platform may ultimately have less to do with how many users it retains than with how unique the data those users generate is.
What happens to Yorkville and the SPAC structure Yorkville Acquisition Corp agreed to the termination alongside the other parties. The blank check vehicle was created specifically to take the CRO treasury venture public. Without that venture, the SPAC’s original purpose no longer exists.
However, one piece of the Yorkville structure survives. Yorkville America’s America First ETFs, branded as Truth Social Funds, will continue operating. These funds existed as a separate product line from the SPAC and were not dependent on the CRO Strategy venture for their investment thesis.
The survival of the ETF products while the SPAC terminates illustrates the fragmented nature of the original deal. What was presented as a unified strategic partnership between Trump Media, Crypto.com, and Yorkville was in practice a collection of loosely connected agreements. The treasury venture, the services agreement, the prediction market integration, and the ETF products could be separated because they were never truly integrated at the operational level.
For the broader SPAC market, the termination adds another data point to an already difficult environment. Blank check companies that target crypto related ventures have faced elevated scrutiny from the SEC, and the completion rate for crypto focused SPACs has declined steadily since 2024. The Yorkville termination does not set a legal precedent, but it reinforces the pattern of crypto SPAC deals that announce with fanfare and unwind quietly.
The economics of the SPAC structure also contributed to the deal’s fragility. Blank check companies carry a deadline for completing their acquisition or merger, typically 18 to 24 months from IPO. If the deal is not completed within that window, the SPAC must return capital to shareholders. This deadline pressure means SPAC targets are selected and structured under time constraints that do not always align with the pace at which crypto markets evolve. When the CRO Strategy venture was designed, the crypto treasury thesis was still generating investor enthusiasm. By the time the SPAC needed to close, the market had moved on.
The corporate crypto treasury model under stress The Trump Media termination arrives at a moment when the corporate crypto treasury thesis is being tested across the industry. The model, popularized by MicroStrategy’s multi-year Bitcoin accumulation campaign, rests on three assumptions. First, that the asset being accumulated will appreciate over time. Second, that public market investors will assign a premium to companies that hold the asset. Third, that the cost of capital used to acquire the asset (equity dilution, convertible debt, operating cash) will be lower than the asset’s long term return.
When those assumptions hold, the strategy works. MicroStrategy’s stock price outperformed Bitcoin itself during periods when all three conditions were met. But the model breaks when any of the three conditions fail. If the asset declines or stagnates, the balance sheet deteriorates. If investors stop assigning a premium, the stock trades at a discount to the value of its holdings. If the cost of capital rises, each new acquisition dilutes existing shareholders more than the asset appreciation can offset.
The Trump Media case exposed a fourth vulnerability specific to non-Bitcoin treasuries. CRO is not Bitcoin. It does not have the same market depth, the same institutional custody infrastructure, or the same regulatory clarity. A treasury strategy built around a mid-cap token tied to a single exchange ecosystem carries concentration risk that Bitcoin treasuries do not. When the issuing exchange itself begins de-emphasizing the token, the treasury holder’s position becomes structurally isolated.
The concentration risk extended beyond token price. CRO is the native token of the Cronos blockchain, which is operated by Crypto.com. Unlike Bitcoin, which has no single issuer or controlling entity, CRO’s value and utility are tied to the decisions of one company. If Crypto.com shifts its product strategy away from the Cronos chain, reduces staking incentives, or faces its own regulatory challenges, the token’s value proposition changes in ways that the treasury holder cannot influence. This dependency on a single counterparty’s strategic choices is a risk category that does not exist in Bitcoin treasury strategies, and it helps explain why the CRO Strategy venture was more fragile than its promoters acknowledged.
The question now is whether the Trump Media termination is an outlier or a leading indicator. At least a dozen other public companies have announced crypto treasury strategies since mid 2025. Most hold Bitcoin, which provides more liquidity and a deeper buyer base. But the smaller companies that adopted the model with limited operating revenue and concentrated token positions face the same pressures that led Trump Media to walk away: quarterly markdowns, shareholder skepticism, and the realization that holding tokens does not generate operating revenue on its own.
There is a structural irony in McGurn’s saturation argument. The treasury model was supposed to give companies a differentiated balance sheet strategy. When one or two companies hold crypto, it is a differentiator. When 30 companies adopt the same playbook, it becomes a crowd trade. The more firms that pile into the strategy, the less novel it becomes to investors and the more correlated the stock prices of those companies become to the underlying token price. At that point, an investor who wants crypto exposure can simply buy the token directly rather than paying a management overhead premium to hold it through a public company. The model works best when few firms use it and breaks down precisely when it succeeds in attracting imitators.
What to watch CRO price and volume over 30 days. The token traded at $0.0513 on termination day, down roughly 66 percent from the $0.153 purchase price in the original deal. A continued decline would indicate that the treasury venture was providing structural demand that no longer exists.
Quarterly earnings from other crypto treasury companies. If more firms report significant markdowns on token holdings, the pattern of terminations or strategy shifts could accelerate. Watch for language changes in earnings calls, particularly around “strategic review” or “rebalancing” of digital asset positions.
Crypto.com’s Cronos ecosystem activity. McGurn’s comment that staking CRO has become less central for Crypto.com raises questions about the exchange’s own commitment to the token. Watch for changes in staking rewards, validator counts, or DeFi activity on the Cronos chain.
SPAC completion rates for crypto focused deals. The Yorkville termination adds to a growing list of crypto SPACs that failed to complete their intended transactions. A further decline in completion rates would signal broader market skepticism about the SPAC-to-crypto pipeline.
Trump Media’s data licensing revenue in subsequent quarters. The pivot to API sales and LLM partnerships is the replacement thesis. If Truth Social API revenue scales meaningfully, it validates the decision to abandon the treasury model. If it does not, the company will need yet another strategic direction.
The TAE Technologies merger timeline. Trump Media’s pending merger with fusion energy company TAE Technologies represents the next strategic bet after crypto. The valuation assigned to that merger, the SEC review timeline, and shareholder reaction will determine whether the company can execute a pivot away from digital assets without losing its investor base.
Crypto treasury company stock price correlations. If companies that adopted the treasury model begin trading with higher correlation to each other and to bitcoin, it would validate McGurn’s saturation argument. A cluster of small cap treasury companies moving in lockstep suggests that investors treat them as interchangeable bitcoin proxies rather than differentiated businesses, which removes the strategic rationale for the model.
Frequently asked questions u003cstrongu003eWhat was the Trump Media CRO Strategy deal?u003c/strongu003e u003cpu003eTrump Media Group CRO Strategy was a planned joint venture between Trump Media and Technology Group, Crypto.com, and Yorkville Acquisition Corp. The venture would have created the first publicly traded company built around a treasury of CRO tokens, with Trump Media purchasing approximately $105 million in CRO and Crypto.com purchasing $50 million in Trump Media shares. Yorkville would have served as the SPAC vehicle to take the venture public.u003c/pu003e
u003cstrongu003eWhy did Trump Media terminate the deal?u003c/strongu003e u003cpu003eInterim CEO Kevin McGurn cited saturation in the corporate crypto treasury sector. He said the competitive landscape had shifted since the deal was announced in August 2025, and that Trump Media wanted to focus on Truth Social, data licensing, and a pending merger with fusion energy company TAE rather than operating crypto infrastructure.u003c/pu003e
u003cstrongu003eHow much did Trump Media lose on its crypto holdings?u003c/strongu003e u003cpu003eTrump Media reported a $406 million quarterly loss driven by markdowns on digital asset holdings. This was an accounting loss under fair value rules rather than a realized trading loss, but it demonstrated the balance sheet volatility that token treasury strategies create for public companies.u003c/pu003e
u003cstrongu003eWhat happens to CRO after the deal termination?u003c/strongu003e u003cpu003eCRO traded near $0.0513 on August 7, 2026, with a market capitalization of roughly $2.4 billion. The token was down approximately 66 percent from the $0.153 purchase price in the original deal. The termination removes a source of structural demand, but CRO remains the native token of the Cronos blockchain and continues to be used across the u003ca href=u0022https://crypto.news/kraken-xstocks-tokenized-equity-voting-rights/u0022 target=u0022_blanku0022u003eCrypto.com ecosystemu003c/au003e.u003c/pu003e
u003cstrongu003eWhat is Truth Predict and is it still operating?u003c/strongu003e u003cpu003eTruth Predict was a prediction market feature planned for Truth Social, powered by Crypto.com Derivatives North America. The full product integration was downgraded to a marketing arrangement. Crypto.com will promote its prediction products to Truth Social users, but Trump Media will not operate the infrastructure.u003c/pu003e
u003cstrongu003eHow does this compare to MicroStrategy’s Bitcoin treasury strategy?u003c/strongu003e u003cpu003eMicroStrategy (now Strategy) built its treasury around Bitcoin, which has deeper liquidity, broader institutional custody, and clearer regulatory treatment than CRO. MicroStrategy also made Bitcoin accumulation its primary corporate identity, attracting a shareholder base that accepted the volatility. Trump Media’s core business is a social media platform, making the treasury strategy a secondary bet that was harder to sustain when token prices declined.u003c/pu003e
u003cstrongu003eWhat is Yorkville Acquisition Corp and does it still exist?u003c/strongu003e u003cpu003eYorkville Acquisition Corp was a blank check (SPAC) company created to take the CRO Strategy venture public. The SPAC agreed to the mutual termination. However, Yorkville America’s America First ETFs, branded as Truth Social Funds, will continue operating as a separate product line.u003c/pu003e
u003cstrongu003eDoes the termination affect Trump Media’s stock price?u003c/strongu003e u003cpu003eTrump Media trades under the ticker MCGA. The stock was down 0.10 percent on August 7. The longer term impact will depend on whether investors view the termination as a positive (reduced crypto exposure risk) or a negative (loss of a growth catalyst). The company’s pivot to data licensing and the TAE merger will shape the next phase of its valuation narrative. This is educational analysis, not investment advice.u003c/pu003eu003cpu003eu003cemu003eDisclaimer: This article is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency markets carry significant risk. Always conduct independent research before making investment decisions. Information is current as of August 8, 2026.u003c/emu003eu003c/pu003e
Grayscale withdrew registration statements for three planned U.S. altcoin exchange traded products on Aug. 7, ending the current registration process for its Cardano, Hedera and Polkadot funds.
Summary
Grayscale withdrew Cardano, Hedera and Polkadot ETF registrations through three Form RW filings on Friday. All three filings state registrations never became effective and no securities were issued or sold. NYSE Arca and Nasdaq had already withdrawn corresponding listing proposals during September and November 2025. SEC generic listing standards now let qualifying crypto products bypass separate exchange rule change filings. Bittensor, Aave, BNB, NEAR and Zcash registrations remained preliminary in recent SEC filings reviewed. SEC records show the three Form RW submissions were accepted between 4:33:37 p.m. and 4:36:47 p.m. ET, a span of exactly 190 seconds.
The filings are withdrawal requests, not SEC rejections. Grayscale said it no longer intends to proceed with the planned distribution of shares under those registration statements. It also confirmed that none had become effective and that no securities had been issued or sold.
Grayscale withdraws three S-1 registrations The Cardano filing sought withdrawal of registration statement No. 333-289948, originally filed in August 2025. The Hedera request covered No. 333-290129, first filed in September 2025, while the Polkadot filing covered No. 333-289949, also first filed in August 2025.
Grayscale Withdraws Registration Applications for ADA, HBAR and DOT ETFs
According to SEC filings, Grayscale filed three Form RW submissions on August 7, withdrawing the S-1 registration statements for the Grayscale Cardano Trust ETF, Grayscale Hedera Trust ETF and Grayscale… pic.twitter.com/haXOpqcOuE
— Wu Blockchain (@WuBlockchain) August 10, 2026 Each request gives the same core explanation: the sponsor does not intend to proceed with the planned share distribution. The documents provide no separate commercial, demand related or regulatory reason. They also state that no preliminary prospectus had been distributed.
Meanwhile, the latest withdrawals follow earlier exits on the exchange listing side. SEC records show NYSE Arca withdrew its proposed rule change for the Grayscale Cardano Trust on Sept. 29, 2025. Nasdaq’s proposed rule changes for the Grayscale Polkadot Trust and Grayscale Hedera Trust were both withdrawn on Nov. 3, 2025.
Those exchange proposals were separate from the S-1 registrations withdrawn on Aug. 7. The Cardano review was covered as previously reported, while Nasdaq’s Polkadot proposal appeared in earlier related coverage. The Hedera review also entered the SEC process in March 2025, as crypto.news reported in its earlier coverage.
New SEC rules changed the crypto ETF approval route The regulatory backdrop changed after those original exchange proposals were filed. In September 2025, the SEC approved generic listing standards allowing qualifying commodity based trust shares, including digital asset products, to list without a separate Section 19(b) rule change for each fund.
The faster exchange route does not replace Securities Act registration. A sponsor still needs an effective registration statement before selling shares. That distinction matters here because Grayscale withdrew the S-1 layer itself. A current overview of the U.S. ETF process explains how exchange listing and registration now operate separately.
What happens next for Grayscale’s altcoin ETF slate Under Rule 477(b), an application to withdraw an entire registration statement before effectiveness is deemed granted when filed unless the SEC objects within 15 calendar days. The three requests therefore take effect without a separate approval order unless the Commission intervenes during that window.
The withdrawals do not establish that the SEC rejected ADA, HBAR or DOT products, and they do not prevent Grayscale from filing again later. For now, SEC records reviewed Aug. 10 show preliminary registrations for Bittensor, Aave, BNB, NEAR and Zcash at different stages. The Zcash registration received its third amendment on July 31.
Grayscale also has altcoin products further along. The SEC declared the Grayscale Avalanche Staking ETF registration effective on March 11 and the Grayscale Hyperliquid Staking ETF registration effective on June 2. Those differing statuses show the Aug. 7 filings are not evidence of a companywide retreat from altcoin exchange traded products.
What remains unknown is why Grayscale ended these three registrations together. The filings give no explanation beyond the decision not to proceed, leaving claims about investor demand, economics or regulatory resistance unconfirmed.
Solana vede všechny blockchainy s přibližně 6 miliony měsíčních odesílatelů USDC. Síť v únoru dosáhla rekordních 650 miliard USD ve stablecoinových transakcích za jediný měsíc.
Solana now has more monthly USDC senders than any other blockchain, with the figure hitting approximately 6 million. That is not a rounding error or a one-month spike. It is the latest data point in a sustained climb that has turned Solana into the closest thing crypto has to a mainstream payments network.
For context, that sender count has grown more than tenfold since late 2023.
The numbers behind the milestone February 2026 was a watershed moment for the network. Stablecoin transaction volume on Solana hit $650 billion that month, a record for any blockchain within a single calendar month. That figure more than doubled the previous peak.
USDC makes up the majority of that stablecoin activity. The network is currently estimated to hold between $8 billion and $12 billion in USDC supply, supported by continuous minting operations that keep liquidity deep and user confidence stable.
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Weekly transaction counts on Solana have crossed 1 billion, underscoring that the 6 million sender figure is not an artifact of a few whales moving large sums. It reflects genuine, broad-based usage across the network.
The use cases driving this volume are notably mundane, in the best possible way. Salary disbursements, peer-to-peer transfers, and retail payments account for a meaningful share of activity.
Why Solana and why now Part of the answer is that USDC itself has matured. Circle’s stablecoin has increasingly become the default dollar-equivalent for on-chain commerce, and payment application developers picking a settlement layer have gravitated toward Solana’s combination of sub-second finality and fees that are measured in fractions of a cent.
Integration with consumer-facing payment applications has also accelerated the trend. Each new app that routes USDC through Solana adds another cohort of senders to the base, many of whom may not even know which blockchain they are using.
The tenfold growth in the sender base since late 2023 roughly tracks with the post-FTX recovery of the Solana ecosystem. After the FTX collapse created significant reputational damage, the network rebuilt its developer community and application layer faster than many observers expected.
What this means for the competitive landscape Ethereum remains the dominant chain for total stablecoin supply and DeFi activity. But Solana’s lead in monthly unique USDC senders points to a divergence in use cases. Ethereum is where large institutional flows and complex smart contracts tend to settle. Solana is where the transaction count lives.
For SOL as an asset, rising network utility generally creates sustained demand for the token, which is used to pay transaction fees. A billion weekly transactions, each consuming a small amount of SOL for fees, creates consistent buy pressure that is structurally different from speculation.
The next thing to watch is whether Solana’s stablecoin dominance in sender count eventually translates into a comparable lead in total stablecoin supply. Right now, Ethereum still holds the largest absolute stock of USDC across all chains.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Sui zavádí postkvantové podpisové schémata pro ochranu účtů před budoucími hrozbami kvantových počítačů. Kvantově bezpečné trezory míří na mainnet později v roce 2026, testnet pro ML-DSA-65 má přijít do konce roku 2026, s plným mainnetovým ověřením cíleným na 1. čtvrtletí 2027.
Sui is advancing plans to integrate post-quantum cryptographic tools, aiming to shield user accounts from potential future threats posed by quantum computers. The Layer 1 blockchain will incorporate two signature methods standardized by the National Institute of Standards and Technology (NIST).
These additions allow optional upgrades to quantum-resistant keys while preserving existing recovery phrases and addresses.
Quantum computers capable of running Shor’s algorithm could eventually compromise the elliptic-curve cryptography that underpins most blockchain accounts today.
On public ledgers, public keys become permanently visible once an account initiates a transaction, creating opportunities for “harvest-now, decrypt-later” collection of data.
Recent estimates suggest a sufficiently advanced quantum system might recover private keys from exposed public ones relatively quickly.
Regulatory timelines are also tightening, with moves to phase out classical algorithms in sensitive systems in the coming years.
Sui’s architecture emphasizes cryptographic flexibility, enabling new signature schemes to be introduced as standard protocol features rather than requiring major overhauls to consensus or network state.
This approach supports a smoother transition compared to chains that would need broader migrations.
The network will deploy two complementary schemes tailored to different use cases.
For routine accounts and everyday transactions, ML-DSA-65 (aligned with NIST’s FIPS 204) will function as a native protocol-level option at security Level 3.
This parameter set was selected over lighter alternatives to provide additional margin, informed by recent demonstrations of advances in analyzing related candidates.
Similar Level 3 choices appear in other systems securing substantial web traffic and hardware key services.
For high-value assets held in vaults, the hash-based SLH-DSA-SHA2-128s (FIPS 205) will operate inside Move smart contracts.
This placement keeps the more mature hash-based approach flexible and avoids locking the core protocol to one standard, allowing compatibility with evolving industry practices—particularly useful given Sui’s cross-chain connections.
Relying on distinct mathematical foundations (lattice-based versus hash-based) means a vulnerability in one does not automatically affect the other.Migration remains user-friendly.
Private keys under the new schemes derive from the same 32-byte seed size used today, generated via a standardized new path from existing recovery phrases.
Wallets will continue to handle backups and restores in familiar ways. Address aliases, already live on the network, enable accounts to switch authorization keys to the quantum-safe versions without relocating assets or altering addresses.
No compulsory moves or bulk transfers are required.Larger signature and public-key sizes relative to current Ed25519 implementations will expand transaction footprints—an industry-wide trade-off for enhanced resistance.
Verification performance for ML-DSA-65 is expected to remain comparable enough that per-signature costs do not increase meaningfully, with Sui’s existing limits and programmable transaction support accommodating the change.
Further optimizations are in progress.Implementation of the core components is complete and has undergone benchmarking.
Quantum-safe vaults are aimed at mainnet rollout later in 2026.
Native ML-DSA-65 accounts are scheduled for testnet by year-end, with full mainnet authentication targeted for the first quarter of 2027.
Supporting updates for wallets, SDKs, and command-line tools will accompany these releases.
Independent audits continue, and schedules may adjust based on review outcomes and testnet results.
The features will roll out as optional, additive capabilities—similar to prior introductions such as zkLogin and passkeys—leaving existing accounts, contracts, and applications unaffected. This positions Sui to adapt as quantum capabilities mature without disrupting current operations.
Akcionáři Core Scientific odmítli prodej za 9 miliard USD, zatímco firma oznámila partnerství s AMD na více než 500 MW kapacity pro AI datacentra od roku 2027.
Core Scientific shareholders said no to $9 billion. Turns out, they may have been right.
The Bitcoin mining and data center company saw its investors reject an all-stock acquisition by CoreWeave last October, a deal that would have valued the firm at roughly $9B and paid 0.1235 CoreWeave shares for each CORZ share. Seven months later, Core Scientific announced a sweeping infrastructure partnership with AMD that makes the rejected buyout look like it would have sold the company short.
The deal that died CoreWeave first pitched the acquisition in July 2025, framing it as a natural consolidation play in the AI infrastructure space. The all-stock structure meant CORZ holders would be taking on CoreWeave’s risk profile rather than receiving cash. Questions about valuation and the acquisition process piled up. By October 30, 2025, the deal was dead.
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AMD steps in with a bigger vision On July 28, 2026, Core Scientific and AMD announced a partnership to deliver over 500 megawatts of AI-ready data center capacity starting in 2027, with the potential to scale up to 2.5 gigawatts.
The deal goes beyond a simple landlord-tenant arrangement. AMD and Core Scientific will collaborate on deploying AMD’s technologies across these facilities, turning them into purpose-built environments for AI and high-performance computing workloads. The partnership also includes a warrant component, giving AMD the option to purchase Core Scientific common stock at market prices under specific commercial conditions.
From mining rigs to AI racks Core Scientific’s transformation has been one of the more dramatic pivots in the crypto-adjacent space. The company once derived the bulk of its revenue from Bitcoin mining, operating one of the largest mining fleets in North America before filing for bankruptcy in late 2022.
Post-emergence, the company began repositioning its massive portfolio of data center infrastructure toward high-density colocation, the kind of power-hungry, cooling-intensive facility space that AI model training and inference demand. Today, most of Core Scientific’s revenue comes from these colocation services rather than from mining digital assets.
The company still maintains some Bitcoin mining operations, but they’ve become a secondary business line. Core Scientific reported a notable net loss in Q2 2026.
What the AMD deal means for investors By partnering with AMD rather than selling to CoreWeave, Core Scientific retains optionality. The 500-megawatt initial commitment, with a pathway to 2.5 gigawatts, suggests AMD views this as a long-term relationship, not a one-off deal.
The warrant structure adds another layer. If AMD exercises those warrants as the commercial relationship deepens, it would become a significant shareholder in Core Scientific, further cementing the alignment between the two companies.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Wintermute USA získala registraci SEC jako broker-dealer a členství ve FINRA, což jí umožní obchodovat americké akcie a opce na vlastní účet. Firma se tím připravuje na tokenizované cenné papíry. Může také působit jako autorizovaný účastník pro způsobilé ETF.
Wintermute USA is now a registered SEC broker-dealer and FINRA member. The approval enables proprietary trading in U.S. equities and options. The firm can act as an authorized participant for eligible ETFs. Wintermute is positioning itself for the growth of tokenized securities. Wintermute has reached a significant regulatory milestone in the United States after its American subsidiary obtained broker-dealer registration with the Securities and Exchange Commission (SEC) and membership in the Financial Industry Regulatory Authority (FINRA). The approval expands the firm’s regulated activities beyond digital asset liquidity provision, allowing it to participate directly in U.S. securities markets while laying the groundwork for future tokenized financial products.
Why broker-dealer registration matters For most crypto-native firms, operating in traditional financial markets requires a separate regulatory framework from the one governing digital assets. Broker-dealer registration places Wintermute USA within the same supervisory regime as many established Wall Street trading firms.
The authorization allows the company to trade U.S. equities and equity options exclusively for its own account, provide liquidity to national securities exchanges and over-the-counter counterparties, and self-clear transactions involving eligible digital asset securities executed on a proprietary basis.
Wintermute also becomes eligible to serve as an Authorized Participant (AP) for exchange-traded products, including crypto-linked ETFs where permitted. Authorized Participants play a central role in ETF markets by creating and redeeming fund shares, helping keep ETF prices aligned with the value of their underlying assets.
Rather than representing a direct expansion into retail brokerage, the registration strengthens Wintermute’s institutional trading capabilities.
Bridging traditional finance and digital assets Wintermute has consistently argued that digital assets and traditional financial markets are becoming increasingly interconnected rather than competing ecosystems.
Founder and CEO Evgeny Gaevoy said the firm expects conventional finance and blockchain-based markets to continue developing in parallel before integrating more deeply over time. That view helps explain why the company pursued broker-dealer status instead of remaining focused exclusively on crypto market making.
The registration allows Wintermute to operate under established U.S. securities regulations while continuing to provide liquidity across cryptocurrency markets. It also reduces operational barriers as tokenized financial instruments gradually enter regulated markets.
Instead of building separate infrastructure for every asset class, the company can increasingly leverage a single institutional trading platform across traditional securities and digital assets.
Tokenized securities are the longer-term objective Although the immediate authorization covers conventional securities activities, one of the most notable aspects of the announcement is Wintermute’s intention to expand into tokenized stocks once regulators permit broader market participation.
Tokenized securities represent traditional financial assets issued or mirrored on blockchain networks. Supporters argue they can improve settlement efficiency, enable programmable ownership and expand access to around-the-clock trading.
Regulatory frameworks, however, remain fragmented across jurisdictions. The SEC has not yet established comprehensive rules governing large-scale trading of tokenized public equities, meaning Wintermute’s ambitions remain dependent on future regulatory approvals.
By obtaining broker-dealer status before those markets mature, the company positions itself to move quickly once additional permissions become available.
Scale gives Wintermute an advantage Wintermute enters the U.S. broker-dealer market with an established institutional presence rather than as a new entrant.
According to the company, the broader Wintermute group facilitates more than $10 billion in average daily trading volume while providing liquidity across more than 60 centralized and decentralized trading venues worldwide.
That experience could become increasingly valuable as institutional investors seek liquidity providers capable of operating across multiple market structures.
Unlike firms focused solely on crypto exchanges, Wintermute is attempting to build expertise spanning centralized exchanges, decentralized protocols and regulated securities venues.
This diversification may also reduce dependence on crypto trading volumes, which historically fluctuate alongside digital asset market cycles.
Regulatory convergence is reshaping crypto market infrastructure Wintermute’s approval reflects a broader shift in how major crypto firms are approaching regulation.
Rather than operating outside traditional financial systems, many institutional digital asset businesses are pursuing regulated licenses that allow them to participate directly in securities markets. Similar strategies have emerged among crypto custodians, exchanges and market makers seeking closer integration with conventional finance.
For regulators, broker-dealer oversight provides familiar compliance standards covering capital requirements, reporting obligations, customer protection rules and market conduct.
For institutional clients, those regulatory frameworks can lower operational uncertainty when engaging with digital asset service providers.
The Industry Perspective Wintermute’s broker-dealer registration does not immediately transform U.S. securities markets, nor does it authorize unrestricted trading of tokenized equities.
Its significance lies in positioning the firm ahead of anticipated market evolution.
As regulators continue developing frameworks for tokenized securities, crypto ETFs and blockchain-based settlement systems, firms already operating under established securities rules may gain an advantage over competitors still relying exclusively on crypto-specific licenses.
Whether tokenized stocks become a meaningful institutional market will depend on future SEC rulemaking, exchange participation and investor demand. Wintermute now has much of the regulatory infrastructure needed to participate once those markets begin expanding.
BitMEX nedokončil dlouho připravovaný prodej, protože zájemce odradily podíly zakladatelů a klesající obchodní aktivita. Platforma se nyní chystá ukončit činnost.
Once a dominant force in cryptocurrency derivatives trading, BitMEX has failed to complete a long-running sale process, according to people familiar with the matter. The platform, which pioneered perpetual futures contracts and once commanded a large share of leveraged trading activity, spent roughly two years seeking a buyer before its parent company decided to wind down operations.
Potential acquirers ultimately walked away, citing persistent founder ownership stakes and a steadily shrinking business as key obstacles.
Investment bank Broadhaven advised on the sale, which reportedly targeted a valuation near $1 billion.
Discussions involved rival exchanges as well as payments and wallet firm Exodus.
Yet none of the talks produced a completed transaction. Sources indicated that buyers grew uneasy over the continued majority equity control held by co-founders Arthur Hayes, Ben Delo, and Samuel Reed.
Although the three had stepped away from day-to-day management after US criminal charges related to anti-money laundering compliance in 2020, their substantial ownership remained intact.
This structure complicated negotiations, as acquirers typically prefer arrangements that allow them to retain and incentivize key personnel through portions of the purchase price rather than navigating significant founder influence post-deal. Compounding the ownership issue was BitMEX’s deteriorating market position.
Throughout the sale process, trading activity continued migrating to larger centralized platforms such as Binance and Bybit, as well as emerging decentralized perpetual futures venues.
Market share eroded sharply from the double-digit percentages the exchange once enjoyed to fractions of a percent in recent periods.
Daily volumes in some segments fell to levels that made growth-oriented revenue multiples difficult to justify.
Lingering reputational concerns tied to earlier regulatory actions further deterred interest, even after the co-founders received presidential pardons in 2025.
The unsuccessful sale paved the way for the decision to close.
HDR Global Trading, the Seychelles-based operator, announced that BitMEX would cease operations on September 23, 2026.
New user registrations stopped immediately, with risk limits and forced position closures planned in the intervening weeks to allow an orderly exit.
The company has stated that assets exceed liabilities and that no customer funds were ever lost to hacks over its more than decade-long history.
Still, the combination of regulatory history, competitive pressure, and the inability to secure an exit via sale left continued independent operation unviable.
BitMEX’s trajectory illustrates broader shifts in the crypto derivatives landscape.
The perpetual swap product it helped popularize now dominates volume across many competing venues, yet the original innovator could not maintain its early advantages.
Declining liquidity and the challenges of operating a fully compliant global platform under reduced activity levels made a clean sale elusive.
For potential buyers, the risks associated with founder ties and a contracting franchise outweighed any remaining brand value or technical infrastructure.
As the platform prepares for final shutdown, the episode underscores how ownership structures and sustained competitive performance can determine outcomes in crypto mergers and acquisitions. What began as an ambitious effort to transfer a pioneering exchange ended without a deal, marking the close of a significant chapter in the crypto industry’s development.
World Liberty Financial získala 100 milionů dolarů za své governance tokeny WLFI od investice napojené na čínského podnikatele Guren „Bobby“ Zhoua, který je ve Spojeném království vyšetřován kvůli praní peněz.
A $100 million investment in World Liberty Financial’s governance tokens, the largest single publicly disclosed purchase of WLFI tokens, traces back to a Chinese businessman currently under investigation by UK law enforcement for money laundering.
The investment, made on June 26 through the UAE-based Aqua1 Foundation, directed as much as $75 million toward entities controlled by the Trump family and affiliates of co-founder Zach Witkoff. The man behind the foundation, Guren “Bobby” Zhou, was arrested in the UK in March 2021 on suspicion of money laundering. British officials have confirmed the investigation remains active as of late July.
Following the money World Liberty Financial launched in 2024 as a decentralized finance protocol with deep ties to the Trump family. Eric Trump serves among its co-founders alongside Witkoff, the son of Trump’s special envoy Steve Witkoff. The project has raised hundreds of millions through its WLFI governance token sales, attracting capital from domestic and international sources alike.
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The Aqua1 Foundation deal stands out not just for its size but for the circumstances surrounding its architect. Zhou has faced legal trouble on two continents. Beyond the UK money laundering investigation, Chinese courts have issued civil judgments against him totaling roughly 19.4 million yuan, approximately $2.4 million, for unpaid loans.
Eric Trump met with Zhou in Dubai to discuss the investment, according to reporting by The New York Times. Zhou later described the arrangement as involvement in “Trump’s family’s crypto venture.”
The due diligence question Standard anti-money laundering protocols, the kind that traditional financial institutions follow as a matter of routine, typically flag individuals with active investigations. Know-your-customer requirements exist precisely to prevent potentially illicit funds from flowing into financial products. With up to $75 million reportedly flowing to Trump-linked entities and Witkoff affiliates, the question of where that money originated becomes more than an academic exercise.
WLFI tokens function as governance tokens for the World Liberty Financial protocol, giving holders voting rights over protocol decisions. They do not represent equity or ownership in the traditional sense.
Regulatory crosshairs The stablecoin legislation debate in Congress has repeatedly circled back to the question of whether Trump-linked crypto projects should face enhanced disclosure requirements. A $100 million investment from an entity connected to a foreign national under money laundering investigation is the kind of case study that regulators point to when arguing for stricter oversight.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Hyperliquid has never traded more contracts, and it has never kept a smaller share of the money those contracts earn
Open interest, the total value of leveraged positions traders hold at one time, climbed to just above $11 billion on July 13, the platform's highest in 2026. Hyperliquid’s perpetual futures volume over the past 30 days ran to nearly $178 billion. Hyperliquid now settles roughly 9% of all open perp positions worldwide, centralized exchanges included, up from under 7% in late May.
But the platform’s revenue has gone the other way. Gross protocol revenue peaked at roughly $357 million in the third quarter of 2025 and has fallen every quarter since, to nearly $295 million, then roughly $217 million, then about $202 million in the second quarter of 2026, DefiLlama data shows. That is a 43% drop from the top, booked while the trade count climbed.
Hyperliquid Improvement Proposal (HIP-3) helps explain why Hyperliquid is keeping less of the activity it attracts. Since October 2025, anyone who stakes 500,000 HYPE, worth about $28 million at current prices, can deploy their own perpetual futures market on Hyperliquid's order books and keep up to half the trading fees.
At the start of 2026 these builder-deployed markets were about 2% of Hyperliquid's perp volume. They are now roughly half of it.
The pass-through shows up in the accounts. Cost of revenue, the portion of fees Hyperliquid hands straight back to builders, market makers and its own liquidity vault, was under 6% of gross revenue in the second quarter of 2025. A year later it was 18%.
Builder code fees, which front-ends like Phantom charge on top for routing an order, arrived at roughly $16 million of revenue in the second quarter and left as roughly $16 million of cost in the same quarter. Every dollar of it passes through.
Traders keep showing up because of what those builder markets list. Real-world asset perps, contracts on things like crude oil, gold, Nvidia, Tesla, a Nasdaq-100 tracker and pre-IPO names like SpaceX, hit a record $3.6 billion in open interest this month and overtook bitcoin as the platform's largest market by that measure.
Between July 13 and July 19, tokenized stocks and commodities did $25 billion in volume, 52% of the weekly total, outpacing crypto perps for the first time. The contracts settle in stablecoins, never expire, and trade through the weekend when the New York Stock Exchange is shut. A product such as leveraged Nvidia exposure, at 2 a.m. on a Sunday, has few other homes.
That growth sits largely on one set of shoulders. Trade.xyz accounts for more than 90% of all HIP-3 open interest, which means Hyperliquid's record numbers depend on a single deployer's oracle choices, margin settings and risk management.
The risk in that arrangement showed earlier this week on Monday, when a single trade on a thin Korean pre-market venue dropped Trade.xyz's SK Hynix contract 19% and triggered liquidations the firm has since agreed to reimburse.
Hyperliquid routes about 97% of trading fees into its Assistance Fund, which buys the token on the open market and retires it, taking roughly 44.5 million HYPE out of the total supply so far. The buyback is a fixed share of earnings, so it contracts when earnings contract. The fund bought nearly $290 million of HYPE in the third quarter of 2025. In the second quarter of 2026 it bought roughly $149 million, close to half as much.
HYPE traded near $55 on Friday, down 5% on the week and roughly 28% below the June 16 record near $77, CoinDesk data show. Annualized earnings of about $785 million put the token at roughly 16 times its circulating market value and about 70 times fully diluted.
Institutional holders including Multicoin Capital and Bitwise have moved sizeable amounts of HYPE to exchanges over the past month.
The ecosystem around it is thinner than a top-15 ranking suggests. Of the 48 tokens CoinGecko tracks in the Hyperliquid category, HYPE accounts for almost all of the value. The next two, Ethena's USDe at about $4.5 billion and USDT0 at roughly $4 billion, are stablecoins issued elsewhere and bridged in. The largest natively built token is PURR at about $53 million, under half a percent of HYPE. The market still values HYPE largely on Hyperliquid’s exchange economics rather than a broad base of native applications.
Supply and regulators press from the other side. Nearly 10 million HYPE unlocked to core contributors on Aug. 6, about $550 million at current prices, one of a monthly series running through 2027 against a circulating supply of only 222 million.
Spot HYPE ETFs posted their first weekly outflow in the week to July 17, roughly $7 million, ending a nine-week inflow run. Singapore's MAS added the platform to its investor alert list in late June, following earlier U.K. warnings, and CME and ICE executives have pushed the CFTC to review its commodity perps.
Meanwhile, competition has arrived from an unexpected direction. Robinhood Chain, the brokerage's month-old network, has been clearing more than $600 million in daily decentralized-exchange volume on memecoin trading, and by some measures now draws more daily speculative activity than Hyperliquid does.
None of which is the same as saying the business is failing. ARK research put Hyperliquid and Pump.fun together at 67% of all crypto application revenue as of July 31, and Grayscale has compared the platform to Amazon Web Services, a place where outside developers build the products while the operator takes a cut of everything traded.
That comparison contains the problem. Hyperliquid booked roughly $45 million in gross revenue through the first four weeks of the third quarter. Hold that pace and the quarter lands near $150 million, a fourth straight decline, and the bid under HYPE thins with it.
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Building the Zcash Machine: Tachyon and Quantum Readiness
Building the Zcash Machine: Tachyon and Quantum Readiness
Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold.
Jun 30, 2026
Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold.
Why it matters:
Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold.
Hyperliquid překročil 263 419 aktivních obchodníků s perpetual futures a nyní tvoří až 69 % všech denních on-chain uživatelů perpetualů. Open interest se drží mezi 8,97 mld. a 10,55 mld. USD.
Hyperliquid has crossed 263,419 active perpetual futures traders, a number that would have been unthinkable for a decentralized exchange just two years ago. The platform now accounts for up to 69% of all on-chain perpetual daily active users.
Perpetual futures are the single most traded instrument in crypto. They let traders bet on price movements with leverage and no expiration date.
The numbers behind the dominance Open interest on Hyperliquid sits between $8.97B and $10.55B. Monthly active traders have topped 274,000 in recent snapshots, suggesting the 263,419 figure represents a consistent baseline rather than a spike.
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The platform offers more than 300 perpetual and spot markets spanning crypto, commodities, and indices. Traders can access synthetic exposure to traditional assets around the clock, something legacy markets still can’t offer without significant infrastructure.
Hyperliquid runs on its own Layer-1 blockchain, using a custom consensus mechanism called HyperBFT. Everything happens on-chain and non-custodially, which means traders hold their own keys throughout the process.
From quant desk to crypto infrastructure The platform was founded in 2023 by Jeff Yan, who previously worked as a quantitative trader at Hudson River Trading, one of Wall Street’s most prominent high-frequency trading firms. That pedigree shows up in Hyperliquid’s design philosophy: capital efficiency, low latency, and the kind of order book mechanics that institutional traders expect.
The HYPE token launched through a community airdrop in 2024, a distribution method that avoided the typical venture capital unlock schedule that tends to create persistent sell pressure. The token powers governance, staking, and fee mechanisms across the ecosystem.
Why perpetual futures keep eating crypto Hyperliquid’s rise has coincided with increased regulatory scrutiny of offshore centralized platforms. As governments tighten rules around entities like Binance and OKX, traders who want fewer counterparty risks and more transparent execution have gravitated toward decentralized alternatives.
Traders can get exposure to commodities or equity indices at 3 AM on a Sunday through Hyperliquid’s support for tokenized or synthetic perpetuals on traditional assets. This 24/7 availability, combined with high leverage options, makes Hyperliquid particularly attractive to active traders.
Hyperliquid’s decision to build a dedicated Layer-1 rather than deploy on an existing chain has given it performance advantages that application-layer protocols struggle to match. Protocols like dYdX and GMX continue to iterate on their own perpetual products against this backdrop.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
A memecoin factory just out-earned one of crypto’s most hyped derivatives exchanges. Pump.fun, the Solana-based token launchpad that lets anyone spin up a memecoin in seconds, posted $33.73 million in 30-day revenue, according to DeFiLlama data, surpassing Hyperliquid’s $32.73 million over the same period.
The $PUMP token responded accordingly, climbing roughly 12% to trade near $0.0027 with a market capitalization of approximately $1.055 billion.
The numbers behind the flip Pump.fun’s total fees over the 30-day window reached $84.35 million, while Hyperliquid collected $47.14 million in fees during the same stretch. The gap between fees and revenue for each protocol reflects their different economic models. Pump.fun converts a larger share of its fee intake into protocol revenue, while Hyperliquid distributes more of its fees back to liquidity providers and stakers.
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The TVL comparison tells a different story entirely. Hyperliquid sits on $6.041 billion in total value locked across its Layer 1 and Arbitrum deployments. Pump.fun holds $251.4 million, almost entirely on Solana. That means Pump.fun is generating more revenue per dollar locked by a factor of roughly 24x.
Historical data shows multiple instances where Pump.fun has outpaced Hyperliquid on daily and weekly revenue metrics. The monthly flip just makes the pattern harder to dismiss as noise.
How Pump.fun built its revenue engine Pump.fun launched in early 2024 and quickly became the go-to platform for memecoin creation on Solana. Its bonding-curve mechanism lets anyone deploy a token with built-in liquidity, no coding required. The platform’s cumulative lifetime revenue has reached $1.231 billion.
For comparison, Hyperliquid’s cumulative lifetime revenue sits at $1.188 billion. The memecoin launchpad has now surpassed the derivatives exchange on both trailing 30-day and all-time revenue metrics.
What this means for the competitive landscape The contrasting fee structures deserve attention from anyone allocating capital between these ecosystems. Pump.fun’s higher fee-to-revenue conversion rate means more value accrues directly to the protocol and, by extension, to token holders. Hyperliquid’s model redistributes more value to participants, which makes it stickier for power users but less immediately profitable as a protocol investment.
A protocol generating over $33 million in monthly revenue against a $1 billion market cap gives $PUMP a price-to-revenue multiple that looks attractive compared to many DeFi tokens trading at far higher valuations on thinner revenue streams.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Zaměstnanec technologické firmy v Shenzhenu byl odsouzen k trestu tří let a tří měsíců odnětí svobody za vydírání zaměstnavatele pomocí 0,88 BTC, 0,8 BTC a 90 000 USDT. Soud zároveň uznal Bitcoin i USDT jako majetek s hodnotou.
An employee at a Shenzhen technology company has been sentenced to three years and three months in prison after stealing proprietary R&D data and attempting to extort his own employer by pretending to be a foreign hacker. The ransom demand: 0.88 BTC, an additional 0.8 BTC, and 90,000 USDT, which prosecutors valued at over 630,000 RMB, roughly $87,000 to $88,000.
The company didn’t pay. Instead, it called the police. And the employee, identified only as Jia, learned the hard way that disguising yourself as an overseas threat actor is significantly harder when you’re logging in from the same office network.
Inside the scheme Jia’s plan was straightforward in concept if not in execution. With access to his employer’s sensitive research and development files, he exfiltrated data and then sent ransom demands via email, styling himself as a foreign cybercriminal to throw investigators off the trail.
Jia’s motivation wasn’t ideological or even particularly sophisticated. According to court findings, he had accumulated significant debts from online lending platforms. Drowning in repayment obligations, he decided to monetize the one asset he had easy access to: his employer’s intellectual property.
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The company’s refusal to engage with the demands proved critical. No payment was ever made, no data was released to third parties, and law enforcement was able to trace the extortion attempts back to Jia. He was subsequently arrested, charged, and convicted.
Beyond the prison sentence, the court imposed a fine of 10,000 RMB.
Why the legal reasoning matters more than the crime In its ruling, made public in August 2026, the Shenzhen court explicitly recognized both Bitcoin and USDT (Tether’s dollar-pegged stablecoin) as virtual assets possessing property value. This distinction is crucial in a country where cryptocurrency trading has been effectively banned since 2021 and digital tokens are explicitly not classified as legal tender.
The court threaded a legal needle. It acknowledged that while Bitcoin and USDT don’t function as currency under Chinese law, they carry sufficient economic significance to serve as the basis for extortion charges. In practical terms, demanding crypto as ransom is legally equivalent to demanding cash or physical goods of comparable value.
For prosecutors to secure an extortion conviction, they needed to establish that the demands had quantifiable monetary value. By valuing the combined crypto demands at over 630,000 RMB, the court created a framework that treats digital assets as property even within a jurisdiction that has otherwise tried to squeeze crypto out of its financial system.
Chinese media coverage has flagged this ruling as a potential turning point for how courts handle cases involving digital assets, with implications for market liquidity and the perceived role of Bitcoin as an asset hedge.
China’s complicated relationship with crypto China’s stance on cryptocurrency has been one of the more dramatic regulatory arcs in the industry’s short history. The country was once home to the majority of Bitcoin mining operations globally and hosted some of the world’s largest crypto exchanges. In 2017, China banned initial coin offerings. In 2021, regulators declared all cryptocurrency transactions illegal and ordered miners to shut down operations, triggering a massive migration of hash power to the US, Kazakhstan, and other jurisdictions.
Yet throughout these bans, Chinese courts have periodically been forced to grapple with crypto’s existence in legal disputes. Property ownership cases, fraud proceedings, and now extortion charges have all required judges to assign some form of legal status to tokens that the government officially discourages citizens from holding.
Implications for digital asset recognition For companies operating in China’s tech sector, the case serves as a reminder that insider threats remain one of the most persistent cybersecurity risks. Jia had legitimate access to the data he stole. No zero-day exploit was needed, no supply chain compromise, just a financially stressed employee with database credentials and a cryptocurrency wallet address. The fact that his employer refused to pay and immediately reported the incident resulted in both a criminal conviction and the preservation of the company’s data.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Senát USA posunul CLARITY Act blíž k finálnímu hlasování, což trhu přidalo mírný optimismus pro Bitcoin. Pravděpodobnost, že BTC do konce roku 2026 dosáhne 200 000 USD, lehce vzrostla.
The U.S. Senate has advanced the CLARITY Act, a significant cryptocurrency regulation bill, closer to a full vote, a move that could shape the future regulatory framework for digital assets. Majority Leader John Thune’s decision to set up a procedural vote points towards imminent consideration on the Senate floor, although the bill still requires sufficient support to overcome a potential filibuster. The legislation, which establishes federal guidelines for classifying digital assets as securities or commodities, comes after approval from the Senate Banking and Agriculture Committees earlier this year.
Market participants appear to interpret this legislative progress as a potential catalyst for Bitcoin’s future price movement. The likelihood of Bitcoin reaching $200,000 by the end of 2026 has seen a slight uptick, with certain sub-markets reflecting increased optimism. The movement suggests that passing the CLARITY Act may provide regulatory clarity that could be supportive of higher Bitcoin valuations.
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The active sub-markets for Bitcoin’s price reflect mixed sentiments, with some seeing a notable increase in odds for significant price milestones. As the Senate moves forward with this bill, market observers are closely watching for further developments that could influence these trends.
Key Takeaways Senate action on the CLARITY Act appears to suggest potential regulatory clarity for digital assets. Market pricing implies a slight increase in the likelihood of Bitcoin reaching $200,000 by the end of 2026. Sub-market activity indicates mixed but slightly optimistic sentiment regarding Bitcoin’s future price trajectory. What to Watch Watch for the outcome of the Senate vote on the CLARITY Act, as its passage could further influence Bitcoin’s price outlook. Key indicators will include whether the bill secures enough votes to overcome a filibuster and any subsequent market response. Additionally, developments in regulatory announcements or major institutional adoption could impact market sentiment further.
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What Price Will Bitcoin Hit Before 2027
Contract Odds Δ since publish Volume 24h December 31 2.1% — — View market → December 31 2.1% — — View market → December 31 2.9% — — View market → December 31 3.9% — — View market → December 31 4.5% — — View market → January 1 2027 8.5% — — View market → January 1 2027 21.5% — — View market → January 1 2027 3.9% — — View market → January 1 2027 2.4% — — View market → January 1 2027 2.1% — — View market → January 1 2027 3.4% — — View market → January 1 2027 4.2% — — View market → January 1 2027 5.5% — — View market → January 1 2027 59% — — View market → January 1 2027 8.5% — — View market → January 1 2027 1.8% — — View market → January 1 2027 3.2% — — View market → January 1 2027 36.5% — — View market → January 1 2027 13.5% — — View market → January 1 2027 7.5% — — View market → January 1 2027 3.6% — — View market → January 1 2027 2.5% — — View market → January 1 2027 1.8% — — View market → January 1 2027 1.2% — — View market → January 1 2027 0.9% — — View market → January 1 2027 11.5% — — View market → January 1 2027 23.5% — — View market → January 1 2027 34.5% — — View market → January 1 2027 52.5% — — View market → January 1 2027 72.5% — — View market → When Will Bitcoin Hit 150k
Contract Odds Δ since publish Volume 24h December 31, 2026 3.6% — — View market →
Podle právníka Billa Morgana může XRP už nyní splňovat podmínky CLARITY Act pro digitální komoditu. Klíčové je, že více než polovina nabídky byla rozdělena mimo Ripple a spřízněné strany.
XRP may already satisfy the requirements that are needed to be treated as a digital commodity under the proposed CLARITY Act, according to analyst Bill Morgan.
The lawyer has argued that the bill’s maturity framework goes beyond its 20% ownership threshold.
The comments come in response to concerns over whether XRP can qualify as a “mature blockchain system” under the aforementioned legislation.
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The CLARITY Act’s framework stipulates that no issuer or affiliated person beneficially owns 20% or more of a digital commodity. It also contains additional criteria pertaining to blockchain governance.
However, the lawyer pointed to alternative provisions that could be relevant to XRP.
The argument is that XRP could potentially satisfy this test because more than half of its total supply has been distributed outside Ripple and related parties.
If that interpretation is accepted, XRP Ledger could end up qualifying under the pre-existing-system provision.
There’s also a separate provision involving exchange-traded products. The Senate draft contains a cutoff for certain network tokens with ETFs on a national securities exchange. XRP could potentially benefit from this provision as well.
Finally, failing to qualify as a mature blockchain would not necessarily mean XRP itself becomes a security in every transaction.
The CLARITY Act distinguishes between a digital commodity and investment contracts involving that commodity. As a result, the regulatory treatment of a particular sale or offering can differ from the legal status of the underlying token itself. The legislation is designed to place qualifying digital commodities primarily under CFTC oversight.
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Ripple’s directly held, operational XRP is roughly 4.7–4.8 billion XRP. The latest widely cited figure is about 4.74 billion XRP in Ripple-controlled wallets.
That said, more than 32 billion XRP remained in Ripple-controlled escrow.
The Clarity Act stumbles In the meantime, the Clarity Act recently faced a major setback.
As reported by U.Today, the Senate has postponed a floor vote on the much-talked-about legislation.
However, Justin Slaughter, Paradigm's vice president of regulatory affairs, recently opined that the bill was not dead just yet.
Bývalý šéf vývoje Ripple Matt Hamilton označil plán rozšířit pole Memo v XRP Ledgeru na 1,3 MB za „velmi špatný nápad“. Varuje, že ukládání souborů by blockchain nafouklo a ohrozilo decentralizaci.
Cover image via depositphotos.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
An attempt to expand the capabilities of XRP Ledger (XRPL) has sparked a heated technical debate in the crypto community. The discussion was triggered by a radical proposal to increase the limit of the transaction Memo field by 1,200 times, from the current 1 KB to approximately 1.3 MB.
Blockchain enthusiasts have already begun discussing the upgrade's "limitless potential," but some have called for a sober assessment of the risks.
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The authors of the idea, including Vet from the XRPL Foundation, want to allow users to embed files directly into the ledger. The new limit would make it possible to upload the following content in XRPL transactions:
Images and PDF documents;Music tracks and short video clips;Software source code and compressed archives.Promo infographic pushing to increase the XRPL memo limit 1200x for on-chain files, Source: X.comThe proposed change is justified by the principle of freedom of choice — if a network participant is prepared to pay the fee for storing their content, the protocol should provide that option.
Matt Hamilton pushes Filecoin alternativeThe initiative's main critic is Matt Hamilton, a former developer relations director at Ripple. Commenting on the proposal, he criticized the initiative and directly called the new expansion plan "a really bad idea."
The problem lies in XRPL's architecture. The blockchain operates as a distributed payment ledger, not a file-sharing service. For the network to remain secure and synchronized, every validator and node must store the entire transaction history.
If XRP Ledger users begin filling the ledger with large media files, the database will start growing exponentially, Hamilton warned.
Because every node has to store it forever. Really bad idea. Best use an actually storage network like Filecoin and have a way to link the two.
— Matt Hamilton (@HammerToe) August 9, 2026 This would significantly increase hardware requirements, make operating nodes too expensive for independent participants and, in the long term, threaten the network's decentralization.
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Drawing on his experience developing blockchain protocols, Hamilton pointed to more efficient engineering approaches that already exist. Specialized decentralized data storage networks, such as Filecoin, are designed for large files.
According to the expert, this hybrid approach allows users to work with any type of media content while keeping XRP Ledger what it was originally designed to be: a fast, lightweight and scalable payment tool.
Na Solaně roste páková expozice i přes pokles USD open interestu na zhruba 4,04 miliardy dolarů. Nová peněženka zároveň otevírá 20x long na 500 000 SOL.
Solana’s [SOL] derivative market shows a clear disconnect from its falling prices. This is because there is still a significant increase in the amount of leveraged coins being traded, while the dollar value of Open Interest (OI) has declined.
The USD-denominated OI currently sits at approximately $4.04 billion compared to about $7.70 billion last year. That represents a decline of around $3.66 billion and a corresponding decrease of about 47.5%.
Source: Alphractal On the other hand, the OI for Solana has increased by nearly 21.6 percent when compared to last year and has risen by 9.38 million to reach 52.87 million SOL. This indicates that traders hold more SOL exposure despite the lower dollar valuation.
Source: Alphractal Meanwhile, SOL trades near $76, far below its peak, explaining much of the USD OI contraction. More importantly, this divergence suggests derivatives have not experienced the broad deleveraging implied by dollar figures alone.
Moreover, speculative positions remain high because traders are maintaining large amounts of leverage relative to their holdings in coins.
Without significant spot buying pressure, it may create an environment where price movements become even more volatile due to the increased sensitivity of price movements to leverage.
As a result, Solana retains substantial liquidation fuel, although open interest alone cannot determine which side faces the next squeeze.
Against Solana’s already elevated derivatives exposure, one whale is now adding significant leveraged risk through a large directional bet. A new wallet deposited $8.43 million in USD Coin [USDC] before targeting a 500,000 SOL long position using 20x leverage.
So far, the TWAP order has filled 199,838 SOL, worth roughly $15.2 million, near a $75.985 average entry. Meanwhile, at the time, SOL traded around $75.94, leaving the filled position slightly underwater by roughly $8,888.
Source: X More importantly, because the TWAP will execute over some period of time, it will limit the whales’ immediate impact upon the market while steadily increasing long exposure. If the whale continues to accumulate SOL, there may be further support for longs.
However, due to the 20X leverage, margin calls are likely when SOL rapidly moves downward.
Solana’s supply shift raises the stakes for leverage Solana is considering two supply changes that would reduce SOL circulation through different mechanisms. SIMD-0550 would speed up inflation cuts, potentially removing 18.9 million SOL from future issuance.
Meanwhile, SIMD-0553 would change transaction fees based on how much computing power users consume. Solana would then burn those fees entirely, potentially raising daily burns from 650 to 7,500–9,000 SOL.
Together, slower issuance and higher burns could tighten supply, strengthening leveraged bullish positions if spot demand remains firm.
Final Summary Solana leverage remains elevated despite lower USD open interest, with a whale adding a 20x long position. Potential supply cuts could support SOL, but weak spot demand would leave growing leveraged exposure vulnerable to liquidation.
Coinbase has pulled trading support for five cryptocurrencies after giving holders a month to prepare.
Summary
Coinbase disabled trading for IDEX, LRC, OMNI, PIRATE and FIS across major trading platforms Friday. Customers can still access and withdraw affected tokens, while Coinbase has not announced conversions yet. Coinbase first announced the five suspensions July 7, giving holders one month of advance notice. Six non-dollar pairs were separately suspended August 6, but their underlying tokens remain supported elsewhere. Coinbase says routine reviews determine whether listed assets continue meeting its standards across trading services. On Aug. 7, the exchange confirmed that trading had been disabled for Idex (IDEX), Loopring (LRC), Omni Network (OMNI), Pirate Nation (PIRATE) and StaFi (FIS). The suspension covers Coinbase Simple and Advanced Trade, Coinbase Exchange and Coinbase Prime.
We have disabled trading for Idex (IDEX), Loopring (LRC), Omni Network (OMNI), Pirate Nation (PIRATE), and StaFi (FIS). Your funds will remain accessible to you, and you will continue to have the ability to withdraw your funds at any time. https://t.co/TkieDfQRqi
— Coinbase Markets 🛡️ (@CoinbaseMarkets) August 7, 2026 For customers still holding the five tokens, the change stops trading rather than immediately removing access to the assets. Coinbase said balances remain accessible and withdrawals can continue, allowing holders to transfer tokens to compatible external wallets or other platforms that support them. The exchange’s latest notice did not announce an automatic conversion or liquidation of remaining balances.
Coinbase gave holders one month before halting trading The Aug. 7 suspension was not announced without warning. Coinbase first disclosed the planned removals on July 7 and said trading would stop on or around 2 p.m. ET on Aug. 7. Before the cutoff, order books for IDEX, LRC, OMNI, PIRATE and FIS were moved into limit only mode, allowing customers to place and cancel limit orders while matches could still occur.
Coinbase said it regularly monitors assets to determine whether they continue to meet its listing standards. However, the notices reviewed by crypto.news did not identify a separate reason for removing each of the five tokens. That means claims attributing a particular token’s suspension to liquidity, regulation, development activity or another individual factor would go beyond Coinbase’s public explanation.
The change has now taken effect. Coinbase’s current asset pages label IDEX, Loopring, Omni Network, Pirate Nation and StaFi as not tradable on the platform.
Token suspensions differ from Coinbase’s six pair removals The five token suspensions came one day after Coinbase removed six individual trading pairs. The exchange ended trading on Aug. 6 for LSETH-ETH, MINA-EUR, GRT-GBP, MASK-GBP, CHZ-USDT and CRO-USDT.
Those changes should not be confused with the five token suspensions. Removing a trading pair means Coinbase can continue supporting the underlying asset through another available market, depending on the customer’s region. By contrast, IDEX, LRC, OMNI, PIRATE and FIS have lost trading support across Coinbase’s main retail, advanced and institutional spot services.
As crypto.news reported, Coinbase said the six pair removals followed its regular market reviews and were intended to consolidate liquidity and support healthier markets. Five of those markets had first been shifted to limit only trading before being suspended.
Coinbase has used similar review processes before. The exchange ended DAI trading in May as part of a separate asset change that included conversion of remaining eligible balances into USDS. The current IDEX, LRC, OMNI, PIRATE and FIS notice is different because Coinbase has not announced a comparable conversion plan.
Some affected tokens were already undergoing wider changes The five assets are not all in the same position outside Coinbase. Omni Network, for example, underwent a broader transition after the project rebranded to Nomina. Nomina said Omni Core was officially sunset in February 2026 and its assets migrated to Ethereum as the ecosystem shifted toward the NOM token and an Ethereum based trading protocol. Coinbase did not cite that transition as the reason for suspending OMNI.
StaFi had also lost a major trading venue before Coinbase’s decision. Binance ended spot trading for FIS in December 2025 as part of its own periodic review. Again, there is no public evidence showing Coinbase based its decision on Binance’s earlier removal, and the two exchanges conduct their listing reviews independently.
The current Coinbase data also shows why the five tokens should not be treated as removed from existence simply because trading has stopped on one exchange. Coinbase continues to display informational price pages for the assets even though those pages now identify them as unavailable for trading. Users can also withdraw balances under the exchange’s Aug. 7 notice.
What happens next for affected Coinbase users The immediate decision for holders is whether to leave their assets on Coinbase or withdraw them to another supported destination. Coinbase has not set a new trading date or announced that any of the five markets will return. Its latest statement says users continue to have access to their funds and can withdraw them.
Users moving tokens externally need to confirm that the destination supports the correct network and token contract before initiating a transfer. Coinbase’s own support materials note that onchain sends are irreversible, making network and address compatibility important when withdrawing delisted assets.
Meanwhile, the trading changes are taking place as Coinbase reorganizes other parts of its business. As previously reported, institutional Coinbase International Exchange accounts, positions and balances are scheduled to migrate to Deribit on Sept. 9. Coinbase’s official migration guidance sets Aug. 28 as the opt out deadline and Aug. 31 for clients to verify Deribit access.
That institutional derivatives migration is separate from the five token suspensions, but together the moves show Coinbase making several market and infrastructure changes during August. For IDEX, LRC, OMNI, PIRATE and FIS holders, however, the position is straightforward for now: trading has stopped, balances remain accessible and withdrawals remain available, with no public timetable for trading support to resume.
Zakladatel BitMart Sheldon Xia odmítl obvinění ze zneužití zákaznických vkladů, zatímco výběry po oznámení shutdownu zrychlily na zhruba 300 za hodinu.
Nearly three weeks after BitMart announced its shutdown, concerns have grown over delayed withdrawals.
BitMart founder Sheldon Xia responded to increasing speculation surrounding the issue. He denied allegations of misappropriating customer deposits or removing them before announcing the shutdown.
In his defense, Xia claimed he did not abandon his duties in relation to the exchanges.
Source: X He also urged users to rely on verified information posted through official channels rather than unsubstantiated claims allegedly made by either current or former employees. However, withdrawals will continue to be the most reliable indicator that these assurances are valid.
Shortly after the 26th of July announcement, Lookonchain recorded 58 wallets withdrawing about $805,000, including an eight-hour period with no withdrawals. Meanwhile, BitMart-linked holdings fell from roughly $102 million to $69–71 million, though internal movements complicate that decline.
Therefore, Xia’s consideration of court involvement and independent third-party auditors becomes important. Verified asset disclosures and improving withdrawal throughput would provide stronger evidence that customer funds remain accounted for.
BitMart withdrawal processing accelerates More importantly, the acceleration in withdrawals offers evidence against the earlier stagnation that had fueled concerns around BitMart’s remaining assets. While ETH withdrawals were limited in early August, activity surged to over 200 per hour starting on the 7th of August.
Activity then exceeded 200 transactions per hour, while several periods approached 400, with the latest pace averaging roughly 300 hourly. This rate of processing indicates that BitMart has progressed from merely reviewing its assets to actively satisfying withdrawal requests.
Source: CryptoQuant Moreover, sustained processing could gradually reduce the backlog and ease pressure from customers awaiting funds. However, the exchange has not disclosed total outstanding liabilities, making the scale of progress difficult to measure.
Therefore, sustaining an average rate of 300 hourly or higher for both ETH and all other assets remains necessary. Higher levels of withdrawals would support Xia’s claims. Conversely, if withdrawals again slow down, liquidity concerns could rise once again.
Unpaid obligations test BitMart’s wind-down Yet clearing customer withdrawals addresses only one side of BitMart’s financial obligations. Reports of unpaid wages create competing claims against remaining assets. As funds leave, BitMart must balance customer repayments with employee and operating liabilities.
Moreover, asset quality matters because less-liquid holdings may provide weaker coverage. Without disclosed liabilities or independent reconciliation, the exchange’s financial position remains unclear.
Ultimately, an orderly wind-down requires enough resources to settle customers, employees, and other creditors without leaving unresolved obligations behind.
Final Summary BitMart founder Sheldon Xia addressed withdrawal concerns, denying asset misuse as the exchange continues its wind-down. BitMart’s faster withdrawals signal progress, but unpaid obligations and undisclosed liabilities leave the wind-down’s outcome uncertain.
Virtuals Protocol spouští Eastworlds, robotický akcelerátor pro týmy pracující s humanoidními platformami a fyzickou AI. Vybraní účastníci získají až měsíc provozní podpory a přístup k robotům jako Unitree G1.
Virtuals Protocol, the platform known for launching tokenized AI agents, is making a calculated push into the physical world. Its new Eastworlds initiative functions as a robotics accelerator, giving selected builder teams access to humanoid robot platforms and up to a month of hands-on operational support.
What Eastworlds actually does Eastworlds is designed to bridge the gap between onchain AI agent infrastructure and physical robotics hardware. Teams get access to robotic platforms like the Unitree G1, a humanoid robot that has become a popular development platform in the robotics community.
Selected teams receive policy training tools and teleoperation capabilities. Policy training, in robotics terms, is how a robot learns to perform tasks through reinforcement learning or imitation. Teleoperation lets a human operator remotely control the robot, often to generate the training data that teaches it to act autonomously later.
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The operational support window runs up to one month. The focus areas include manipulation (picking things up, assembling objects) and locomotion (walking, balancing, navigating obstacles).
Getting into the program isn’t open to everyone. Teams need to maintain a fully diluted valuation of at least $5 million for one week and pass an onboarding assessment tied to what Virtuals calls its “Robotics Launch” designation.
Why a crypto protocol cares about robots The protocol already runs an ecosystem with tens of thousands of active AI agents. These agents operate within a framework that combines tokenization, governance, and persistent agent identity, all managed onchain. The $VIRTUAL token sits at the center of this system, handling governance decisions, facilitating transactions, and providing liquidity for new agent launches.
The initiative was driven largely by demand from the builder community. Founders already working within the Virtuals ecosystem were increasingly interested in humanoid robots and embodied AI applications.
The broader robotics funding boom The robotics and physical AI sector has attracted enormous capital in recent investment cycles, with venture funding in this space reportedly reaching between $23 billion and $40.7 billion. Companies like Figure AI, 1X Technologies, and Agility Robotics have raised hundreds of millions individually.
The $5 million FDV threshold for Eastworlds participation suggests Virtuals is trying to avoid the “launch a token first, build later” dynamic by requiring projects to demonstrate some market traction before accessing hardware.
For $VIRTUAL holders, the Eastworlds expansion creates a new category of demand for the token. Every robotics agent launch that flows through the Virtuals ecosystem uses $VIRTUAL for liquidity and governance.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Větev Bitcoinu s BIP-110 se zastavila na bloku 961 633 po vytěžení pouhých dvou bloků, zatímco řetězec bez prosazení postoupil na 961 721 a rozdíl narostl na 88 bloků.
Bitcoin’s BIP-110-enforcing branch stalled at block 961,633 on Sunday after producing only two blocks, while the non-enforcing chain advanced to 961,721, widening the gap to 88 blocks.
According to the BIP-110 monitor, updated at 10:19 am UTC, the branch’s latest block had been mined about 12 hours earlier. Ocean records show that a pseudonymous mining group called Roughnecks produced the branch’s first two blocks using Ocean’s Decentralized Alternative Templates for Universal Mining (DATUM) mining protocol.
The divergence began after BIP-110 entered mandatory signaling at block 961,632 on Saturday. Only 51 of the preceding 2,016 blocks, or 2.53%, signaled support. During this window, BIP-110 nodes reject blocks that do not signal through version bit 4, while ordinary Bitcoin nodes accept both signaling and non-signaling blocks.
Under the proposal, mandatory signaling continues through block 963,647. The enforcing branch must mine through the remainder of the 2,016-block adjustment period before its difficulty can adjust, making progress slow without substantially more hashpower.
BIP-110 has faced opposition from prominent Bitcoin advocates. Strategy executive chairman Michael Saylor said he shared the proposal’s objectives but argued that its approach threatened Bitcoin’s neutral rules and consensus.
Blockstream CEO Adam Back warned that the consensus-level change could damage Bitcoin’s credibility and potentially make certain unspent transaction outputs unspendable.
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.
Americké spotové Bitcoin ETF přilákaly za poslední týden zhruba 1 miliardu USD čistých přílivů, nejvíce od dubna. Podle Bloombergu přišly týdenní přílivy po hacku Coldcard.
US spot Bitcoin (BTC) exchange-traded funds (ETFs) pulled in roughly $1 billion of net inflows over the most recent week, following the Coldcard hack.
The figure marks the strongest weekly performance since April and the third-best result since October of the prior year, reports Bloomberg ETF analyst Eric Balchunas.
“The Bitcoin ETFs just clocked their best week in flows (about $1b) since April and the 3rd best week since the good ole days were ruined by the Silent IPO last Oct. IBIT, FBTC and few others saw inflows every single day since the Coldcard hack, making it hard not to see causation in the correlation. Would be ironic, but somehow on brand, if the hack of BTC in cold storage (seemingly worst possible situation) marked the beginning of next run.”
Source: Eric Blachunas/X Balchunas also explained that Bitcoin witnessed a silent IPO (initial public offering) phase after BTC ETFs were launched as long-term holders took the opportunity to exit at scale.
“OGs who made it through 5-6 hella drawdowns and are now multi-millionaires in their 30s and 40s and need $ money for stuff. They’re cashing out a little à la VC investors. The ETF was Bitcoin’s IPO.”
Earlier this month, attackers exploited a long-standing firmware flaw in Coldcard hardware wallets made by Coinkite to drain approximately 1,816 Bitcoin worth $116 million from more than 5,200 addresses beginning July 30th. Blockchain analysis from Galaxy Research confirmed the scale of the theft across four waves of activity.
Ripple drží více než 50 licencí pro převod peněz a už nyní splňuje přísnější podmínky, než požaduje navrhovaný PACE Act. Firma má licenci i v New Yorku a Texasu.
Ripple has positioned itself ahead of ongoing US legislative changes by accumulating more than 50 money transmitter licenses, surpassing the requirements set out in the proposed PACE Act. Crypto researcher SMQKE asserted on X that Ripple, the payments technology company best known for developing the XRP Ledger, already fulfills the stringent criteria lawmakers aim to enforce for firms seeking direct access to Federal Reserve payment systems.
PACE Act sets high thresholdThe Payment Access to Cryptocurrency Entities (PACE) Act aims to provide a regulatory framework for digital asset companies connecting directly to Federal Reserve rails such as Fedwire, FedNow, and FedACH, without the need for a traditional bank charter. Under the bill, applicants must secure money transmitter licenses in at least 40 states, establish one-to-one reserves, comply with the Bank Secrecy Act, and register as a “covered provider” with the Office of the Comptroller of the Currency (OCC).
SMQKE emphasized that Ripple holds licensing in more than 50 states, including in New York and Texas. New York’s BitLicense is among the strictest licensing regimes for digital asset service providers and is widely regarded as a benchmark for robust compliance across the US. Companies holding the BitLicense generally face fewer obstacles obtaining similar approvals elsewhere.
Ripple’s portfolio of over 50 licenses means it already exceeds the bar set by the PACE Act, including recognition in New York and Texas, which are known for rigorous oversight.
Ripple’s licensing approach was designed to satisfy both federal and state requirements, which SMQKE argues enables the company to rapidly respond to regulatory changes if the bill passes.
Mini dictionary: PACE Act, US legislative proposal setting requirements for crypto companies to gain direct access to key Federal Reserve payment systems, including Fedwire and FedNow, by mandating extensive state-level licensing and compliance standards.
Messaging standards drive potential integrationA key technical factor supporting Ripple’s eligibility is its adoption of ISO 20022, a global banking format that standardizes data-rich messaging between payment systems. Both FedNow, the Federal Reserve’s instant payment platform, and the XRP Ledger utilize ISO 20022, which could allow for smooth interoperability between the two networks. According to SMQKE, this alignment streamlines the integration process, removing the main barrier for disparate financial systems to communicate in real time.
A payment system designed natively on ISO 20022 not only enables seamless data transfer but also processes transactions 24/7, making it align closely with FedNow’s expectations.
Traditional banking infrastructure frequently relies on older data formats that can limit transaction detail and delay processing through scheduled batch cycles. An ISO 20022-native blockchain bypasses these constraints, delivering truly real-time settlement capacities required by updated federal systems.
Mini dictionary: ISO 20022, an international standard for exchanging electronic messages between financial institutions, allowing for richer payment data and improved interoperability across different systems.
XRPL matches instant payment speedsFedNow is engineered to settle payments within seconds, setting a high bar for any network seeking integration. SMQKE highlighted that the XRP Ledger, Ripple’s decentralized blockchain network, is capable of millisecond-level settlements, matching the real-time expectations of the Federal Reserve’s instant payment rails.
This performance metric has become an essential consideration as federal infrastructure modernizes. Blockchain projects hoping to participate must provide transaction finality at speeds comparable to existing systems.
SystemSettlement SpeedMessaging StandardFedNowSecondsISO 20022XRP LedgerMillisecondsISO 20022PACE Act’s uncertain futureAlthough the PACE Act has bipartisan support and industry backing, it remains a bill in progress in Congress. Companies like Ripple, already compliant with the proposed standards, are likely to have an operational advantage if the legislation is enacted. However, the ultimate decision on any connection to Federal Reserve rails will require OCC approval and final passage through the legislative process.
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.
Robinhood Chain běží jako Ethereum Layer-2 na Arbitrum a používá výhradně ETH na poplatky, takže vlastní token je podle analytiků zatím nepravděpodobný.
Robinhood built an entire blockchain and still didn’t launch a token. In an industry where seemingly every company with a website eventually mints its own coin, that restraint is worth examining.
The company’s new Robinhood Chain, which went live on July 1, operates as an Ethereum Layer-2 network built on Arbitrum infrastructure. It uses ETH exclusively as its native gas token for transaction fees. According to analysts, that architectural decision effectively closes the door on a proprietary Robinhood token, at least for now.
Why no token makes strategic sense Robinhood Chain is a permissionless Ethereum L2. It processes transactions using ETH for gas, the same way Ethereum’s mainnet does. This approach mirrors what several other Ethereum L2 networks have done. Base, Coinbase’s own Layer-2, similarly runs on ETH rather than issuing a native coin.
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What Robinhood Chain actually does The chain launched with a focus on tokenized real-world assets, including stock tokens representing US equities and ETFs. These tokenized securities are initially available to eligible users in more than 120 countries, with an early emphasis on EU and EEA markets.
The platform enables 24/7 trading of tokenized assets, removing the artificial constraint of market hours that has governed equity trading for over a century.
Uniswap is among the day-one ecosystem partners, providing liquidity infrastructure on the chain.
The competitive landscape is getting crowded Robinhood isn’t the only company racing to tokenize traditional assets on a blockchain. Coinbase has Base. Traditional finance giants like BlackRock have been tokenizing money market funds.
The no-token strategy means users don’t need to acquire an unfamiliar asset just to pay for transactions. They just need ETH, which is available on every major exchange and already sits in many crypto wallets.
For ETH itself, Robinhood Chain adds another source of demand. Every transaction on the network requires ETH for gas, which means increased usage of the chain translates directly into increased demand for Ethereum’s native asset.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
BIP-110 vstoupil do povinného signalizačního období na bloku 961 632, ale těžaři jej podporovali jen z 2,53 % předchozích 2 016 bloků. Vynucující uzly už odmítají bloky bez version bit 4.
Bitcoin Improvement Proposal 110 entered its mandatory-signaling phase at block 961,632 on Saturday, with miners signaling support in just 51 of the preceding 2,016 blocks, or 2.53%, well below the 55% threshold required for early activation, according to the BIP-110 monitor.
Starting at block 961,632, nodes enforcing BIP-110 began rejecting blocks that did not set version bit 4, while ordinary Bitcoin nodes continued accepting both signaling and non-signaling blocks. A minority BIP-110 branch subsequently emerged, but quickly fell behind the dominant chain.
The low signaling rate makes a sustained rival chain unlikely without substantially greater miner participation. With relatively little mining support, a BIP-110 branch could advance slowly or stop producing blocks altogether.
The milestone tests whether supporters can advance a contentious consensus change without broad miner backing, potentially separating enforcing nodes from the dominant chain and escalating a dispute over how Bitcoin’s block space should be used.
BIP-110 seeks temporary limits on Bitcoin dataWritten by pseudonymous developer Dathon Ohm, BIP-110 proposes additional consensus restrictions lasting roughly one year.
It would limit most new output scripts to 34 bytes, cap OP_RETURN outputs at 83 bytes, restrict certain data pushes and witness elements to 256 bytes, and temporarily limit several Taproot features. Unspent transaction outputs created before activation would be exempt.
Supporters said the restrictions would discourage inscriptions and other non-monetary data that increase storage and bandwidth costs for node operators.
The proposal’s critics, including Strategy Executive Chairman Michael Saylor and Blockstream CEO Adam Back, have argued that the proposal could divide Bitcoin and cause nodes to reject transactions permitted under the network’s existing rules.
The proposal uses version bit 4 for miner signaling. Its deployment schedule sets blocks 961,632 through 963,647 as a mandatory-signaling window, during which nodes enforcing BIP-110 reject blocks that do not carry the signal.
The specification defines block 963,648 as the beginning of its locked-in state and block 965,664 as the point when its transaction restrictions take effect.
BIP-110 proponents have also discussed a more extensive fallback. On Aug. 1, Bitcoin developer Chris Guida rebased preliminary code for a proof-of-work change originally written by Bitcoin Knots maintainer Luke Dashjr.
Guida described the code at the time as a contingency if miners opposed BIP-110, but said no activation date had been set.
Magazine: 10 weirdest things ever tokenized... including farts
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Spotové Bitcoin ETF v USA zaznamenaly ve čtvrtek pátý den čistých přílivů v řadě, a to ve výši 98,85 milionu USD. Ether ETF přidaly 49,60 milionu USD a rostly čtvrtý den po sobě.
Institutional capital isn’t waiting for regulatory perfection. For five trading sessions in a row, U.S. spot Bitcoin exchange-traded funds have absorbed fresh inflows, with Thursday’s total reaching $98.85 million, according to data from SoSoValue. The streak, the longest since mid-July, signals that professional allocators are quietly adding BTC exposure even as Washington debates the future of digital asset legislation.
Spot Ether ETFs didn’t miss the move. They pulled in $49.60 million on the same day, extending their own inflow run to four trading days. The parallel buying suggests the momentum is not isolated to Bitcoin but reflects a broader institutional tilt toward regulated crypto products. While the dollar amounts are modest compared to the blockbuster inflows seen earlier this year, the consistency carries weight at a moment when many have been questioning whether ETF demand had stalled.
A Quiet but Steady Institutional Pulse Daily ETF flow data has become a real-time sentiment gauge for institutional crypto positioning. After a choppy July marred by outflows and macroeconomic jitters, the consecutive inflows indicate that some large players are rebuilding positions. Traders often treat persistent ETF buying as a proxy for conviction, especially when it spans both BTC and ETH products in parallel.
The timing is notable. The Ethereum ecosystem, for instance, remains the most active blockchain by developer count, underpinning the narrative that ETH’s utility supports long-term demand. Meanwhile, networks like Sui are seeing their own institutional traction: an 18% price surge this year was driven in part by institutional staking and a major fintech partnership, as covered in a recent price analysis. These signals suggest that crypto’s institutional chapter is not limited to ETF vehicles alone, but flows into the spot funds remain the cleanest daily pulse check.
Regulatory Uncertainty Still Casts a Shadow Yet the inflows are not happening in a vacuum. Four days before a Senate vote, a landmark crypto bill is facing an eleventh-hour challenge from the banking industry, as noted in a detailed report on the legislation’s fate. The outcome could reshape how custodians, exchanges, and ETF issuers operate in the U.S. market. It’s exactly the kind of policy drama that has historically prompted institutional investors to pause. So far, ETF flows haven’t blinked.
That detachment could mean two things. Either institutional buyers are betting the bill will pass largely intact, or they are simply pricing in a regulatory trajectory that won’t derail the ETF wrapper itself. The latter seems more plausible given that spot Bitcoin ETFs already survived a prolonged SEC battle and have since become a fixture in many portfolios. Ether ETF approval, though more recent, cemented the product class.
What the Flows Signal, and What They Don’t The five-day streak is a positive data point, but it doesn’t tell the whole story. Trading volumes in the spot ETFs have been somewhat subdued relative to the first quarter, and the inflows are still far from the billion-dollar days that defined the initial launch frenzy. It’s a steady accumulation phase, not a speculative surge.
The $98.85 million figure, while respectable, is also small enough to be driven by a handful of large allocators rather than broad retail participation. That makes the streak fragile. A single negative macro print or an unexpected regulatory setback could flip flows back to outflows within a day. Still, the pattern of inflows into both Bitcoin and Ether products suggests that institutional conviction is deeper than short-term price action might imply.
As August progresses, market watchers will be looking to see whether the streak can extend through a full week, a threshold that could shift framing from “tactical rebound” to “renewed accumulation.” The macro backdrop—interest rate expectations, dollar strength, and equity market sentiment—remains the wild card. But for now, the inflow data offers a quiet counter-narrative to the regulatory noise: money is still moving in.
AUTHOR
Brenda is a writer with three years of experience specializing in cryptocurrency, artificial intelligence and emerging technologies. She graduated from the University of Mombasa with a degree in Psychology. She has worked at Cryptopolitan and Blockchain Reporter.
SharpLink vloží 100 milionů USD ze své pokladny v ETH do on-chain výnosového fondu Galaxy Digital, který přidá dalších 25 milionů USD. Fond má aktivně generovat výnos z ETH prostřednictvím strategií DeFi.
The second-largest Ethereum [ETH] DAT, Sharplink, is investing $100 million of its existing Ethereum stock in a fund run by Galaxy Digital.
Called the “onchain yield fund” Galaxy will contribute an additional $25 million of its own funds, increasing the fund’s total committed capital to $125 million.
What does this mean for Sharplink? That said, the fund aims to produce more returns from the ETH and other digital-asset opportunities by employing blockchain-based tactics. Traditionally, a business that owns Ethereum could stake it and receive rewards for doing so.
But the “on-chain yield” strategy goes one step further by integrating digital assets into different blockchain protocols and financial applications to generate returns.
This could include lending, liquidity provision, staking or restaking, or other decentralized finance (DeFi) activities, depending on the approach. Simply put, instead of holding the assets passively, the fund is actively putting capital to work, and that is what matters.
With this move, Sharplink may be able to boost the economic value produced by its ETH holdings without depending entirely on ETH’s price growth if the strategies work.
In this, Galaxy will oversee the fund, evaluate DeFi opportunities, perform due diligence, and control risks like market volatility, liquidity problems, and smart contract failures, making its role crucial.
Execs weigh in Remarking on the same, Mike Novogratz, Founder and CEO of Galaxy, said,
We’re entering a new phase of institutional adoption, with capital moving from passive ownership to active participation in blockchain-based markets.
Echoing similar sentiments, Joseph Chalom, CEO of Sharplink, added,
We believe this Fund marks a next step for Sharplink expanding its ETH treasury management strategy.
Sharplink’s ETH bet This occurred while Sharplink’s Ethereum holdings were valued at $1.66 billion, or 868,699 ETH. Meanwhile, it has now earned 24,338 ETH in total staking rewards.
This was while its stock price was at $6.43 following a 2.23% increase in the previous trading day. In contrast, the price of Ethereum was at $1,916.03 following a slight increase of 0.24% over the previous day.
Final Summary Rather than just accumulating and holding Ethereum, Sharplink is essentially using a portion of its ETH treasury as productive capital. Galaxy Digital is contributing an additional $25 million to Sharplink’s $100 million ETH treasury.
TRON testuje na Nile Testnet postkvantovou kryptografii a chce se stát první kvantově odolnou blockchainovou sítí. Zkouší i standardizovaný algoritmus ML-DSA-44 od NIST.
TRON, a well-known decentralized L1 chain, is accelerating its security strategy with the testing of post-quantum cryptographic protections. TRON is using the Nile Testnet to test the respective cryptographic security protections. As per the founder of TRON Justin Sun, the platform is ambitious to become the first quantum-resistant network. In this regard, Tron is preparing its ecosystem for likely security threats that increasingly refined quantum computers pose. Hence, with this move, TRON intends to gain a notable position among the earliest blockchain ecosystems to enact quantum-resistant security standards.
TRON is building for the quantum era now.
With post-quantum security already being tested on the Nile Testnet, our goal is clear: become the first quantum-resistant blockchain network. https://t.co/yW4YP51l9U
— H.E. Justin Sun 👨🚀 🌞 (@justinsuntron) August 8, 2026 TRON Prepares for Quantum Era with Next-Gen Security Testing on Nile Testnet TRON’s testing of quantum-resistant security protections on the Nile Testnet is a key step to fortify cryptographic architecture before quantum computing hits the level that can undermine broadly utilized encryption benchmarks. The development underscores the wider initiative to enhance the long-term resilience of the network amid the growing blockchain adoption. In this respect, Nile Testnet is currently compatible with quantum-resistant signature with the use of post-quantum cryptographic algorithms.
Particularly, ML-DSA-44 is one of the crucial technologies that are being tested. It is a standardized algorithm built under the post-quantum cryptography initiative of the National Institute of Standards and Technology (NIST). Such algorithms reportedly remain secure and guard against attacks that significantly advanced quantum computers make possible. The testing has no limitation on transfer authorization.
Additionally, TRON is examining the application of quantum-resistant cryptography across diverse notable components of the blockchain model thereof. The respective ideas take into account block production, smart contract signature verification, wider network infrastructure, and P2P node handshakes. TRON’s approach focuses on preparation instead of waiting for the time when quantum computing poses an immediate threat. The network is leveraging the testnet setting to research and validate the exclusive cryptographic benchmarks ahead of deployment across the wider ecosystem.
Eyeing More Security Updates Before New Quantum Threats According to TRON DAO, the platform is readying for the potentially upcoming “quantum era,” and the new initiative is a part of the wider commitment to infrastructure and security resilience. With the testing ahead of the ultimate quantum threat, the company can assess the performance of unique cryptographic standards across practical on-chain operations. Overall, if this testing moves forward efficiently, it could lead to additional security upgrades to protect against the latest cryptographic threats.
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Grayscale uvedl, že ETF GLNK má k 30. červnu čistá aktiva ve výši 72,2 milionu USD, zatímco LINK ve 2. čtvrtletí klesl o 18 %. Fond vykázal nerealizovanou ztrátu přibližně 16,4 milionu USD.
The ETF market is experiencing a mixed quarter, as some products struggle to maintain their growth. ChainLink illustrates this situation with a fund whose value depends directly on a single asset. Launched on NYSE Arca in December 2025, Grayscale’s product started with solid inflows. Since then, the drop in LINK has reduced its net asset value and slowed its net assets. The latest quarterly report thus confirms a marked slowdown, without signaling any massive investor withdrawals.
In Brief The ChainLink ETF at Grayscale shows $72.2 million in net assets. LINK dropped 18% in the second quarter. GLNK shows an unrealized loss of about $16.4 million. The fund’s assets remain almost stable despite new capital inflows. Grayscale applies an annual fee of 0.35% on the ETF. A Difficult Second Quarter for ChainLink On August 7, Grayscale filed a 10-Q form with the United States Securities and Exchange Commission (SEC). The document concerns the Chainlink Trust, which became an ETF under the symbol GLNK in December 2025.
As of June 30, the fund’s net asset value was $72.2 million. This level remains close to the $73 million recorded in April, despite previously observed capital inflows. The report mainly shows the effect of the price drop on the product’s overall value. At the end of the second quarter, the token was worth $7.25, compared to $8.77 during the previous quarterly filing in May. The decline thus reached 18% over three months, according to figures provided by Grayscale.
This drop brought the fund’s net asset value per share down to $6.38. Grayscale also estimates an unrealized loss of about $16.4 million on its LINK holdings. However, the number of tokens held remained stable during this period.
The Decline of LINK Limits the Fund’s Progress The operation of GLNK directly explains this evolution, as the product relies on a single asset. It therefore has no diversification to mitigate a LINK drop. When the price falls, the value of the fund’s holdings decreases mechanically.
This relationship becomes particularly apparent when new inflows are no longer enough to offset the market decline. The second quarter precisely shows this situation, with almost unchanged net assets despite the capital already brought in.
The ChainLink network provides external data and price information to smart contracts on Ethereum and other blockchains. ChainLink has experienced volatile development since the launch of GLNK on the US market.
In this context, the market for altcoins related to on-chain infrastructure is also going through a difficult period. The drop in the LINK price directly weighed on the fund’s value, while the number of tokens held remained stable over the quarter.
Solid Beginnings Before a Clear Slowdown The fund’s launch had nevertheless shown rapid results according to the report’s data. GLNK attracted $41 million in inflows on its first day of trading. Its assets under management then reached about $64 million in less than 48 hours. In April, this amount rose to about $73 million, confirming initial growth. These figures had fueled much higher projections for the rest of the year.
Some estimates then mentioned between $150 and $300 million in assets by mid-2026. In a more favorable scenario, these projections could reach $400 to $600 million. The second quarter report shows that this trajectory did not materialize. Net assets remain at $72.2 million, far from the most conservative growth scenario. ChainLink retains institutional exposure via GLNK, but the fund’s growth rate has paused.
The document also provides important information on investor flows. The stability in the number of tokens held indicates that the slowdown does not come from massive withdrawals. New capital inflows were impacted by the token’s drop. The current asset level mainly reflects the market effect observed during the quarter.
Reduced Fees for a Structure Still Exposed Grayscale maintains an annual fee of 0.35% on GLNK’s assets. This rate corresponds to the one set when the trust converted into an ETF in December 2025. Before this transformation, the private structure charged 2.5% to accredited investors. Grayscale had also temporarily waived part of the fees until early March 2026. This measure aimed to accompany the transition to the new listed structure.
For the semester ended June 30, the promoter’s fees amounted to about $136,000. This amount corresponds to the announced annual rate, calculated on the average net assets of the fund. It remains low compared to the unrealized loss of $16.4 million recorded for the quarter. These figures however show the particular operation of a crypto ETF focused on a single asset. The structure reduces fees but retains direct exposure to token price variations.
Thus, the ChainLink product continues to be represented on the listed market by a product whose performance closely depends on LINK. This evolution remains linked to the same parameters observed since the beginning of the year.
The next net asset development will therefore depend on the combination of new inflows and price evolution. If the token remains under pressure, the fund’s growth could continue more slowly. Conversely, a market recovery could quickly change the value of assets held. The next quarterly report will mainly measure whether GLNK regains growth momentum or remains close to its current level.
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USDC supply on the Stellar network jumped 34.7% over the past 30 days, pushing the stablecoin’s market cap on the chain to $365.5 million. That’s a meaningful surge for a network that has quietly positioned itself as the go-to rail for cross-border payments and remittances.
The growth spurt didn’t happen in a vacuum. It tracks closely with Circle’s deployment of its Cross-Chain Transfer Protocol, known as CCTP, on Stellar back in May 2026. The protocol connects Stellar to 23 other blockchains, and it appears to be doing exactly what it was designed to do: make USDC flow more freely across the multi-chain landscape.
What CCTP changes about cross-chain USDC Before CCTP, moving USDC between chains typically meant relying on wrapped tokens or third-party bridges. Wrapped tokens introduce counterparty risk because you’re trusting an intermediary to back the wrapped version one-to-one. Bridges, meanwhile, have been the favorite target of hackers for years, with billions lost to exploits across DeFi.
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CCTP sidesteps both problems by using a burn-and-mint mechanism. When you send USDC from Ethereum to Stellar, the tokens on Ethereum are burned and new ones are minted natively on Stellar. No wrappers, no bridges, no middlemen holding your funds in a smart contract.
The protocol now connects Stellar to major ecosystems including Ethereum and Solana, giving users 23 blockchain destinations in total.
Circle’s data as of August 7, 2026, pegged the Stellar-specific USDC supply at roughly $360.5 million.
Stellar’s quiet rise as a stablecoin network USDC first landed on Stellar in February 2021, following an announcement the previous October. Since then, the network has processed over 4.5 million USDC transactions, with total payments volume crossing the $3 billion mark.
The $365.5 million in USDC on Stellar still represents a fraction of the stablecoin’s overall footprint. Total USDC circulation across all supported chains sits at nearly $72 billion as of early August 2026. Stellar’s share comes out to roughly 0.5% of the total supply.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Ondo Finance is marking a milestone for one of its earliest products, as its tokenized Treasury note, USDY, turns three with a market cap of $2.1 billion.
USDY, short for U.S. Dollar Yield Token, is a token backed by short-term U.S. Treasuries and bank deposits. According to Ondo, it now ranks among the top three tokenized Treasuries.
Tokenized Treasuries are blockchain-based versions of government debt that let holders earn yield onchain rather than through a traditional brokerage.
Ondo Finance is a company that builds tools to bring institutional-grade financial products onto public blockchains. It says USDY was one of the first signals that tokenization could reshape how financial products are issued, accessed, and used.
3 years of growth across 6 chainsUSDY tracks the value of the U.S. dollar, but its price typically sits slightly above $1 because the yield each unit earns is added back into the token, lifting its value over time.
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The reserves behind it are held in Treasury bills and bank demand deposits, both considered cash equivalents. Ondo says the token supports permissionless transfers and round-the-clock minting and redemption.
Trending on TheStreet Roundtable:What Wall Street expects from Circle, MARA, Galaxy earnings this weekMajor crypto exchange eyes IPO amid market slumpMorgan Stanley downgrades Circle, slashes price target by 64%Since launching in August 2023, USDY has expanded to run across six blockchains and now counts nearly 30,000 holders, according to Ondo.
The company says the token has seen $8.5 billion in transfer volume over the last three years.
The milestone reflects a broader push to move real-world assets onchain, a market where Ondo has positioned itself around institutional standards.
By keeping the token compliant while preserving the flexibility of blockchain-based transfers, Ondo is betting that tokenized Treasuries can serve both traditional finance and crypto users at once.
Virtuals Protocol na Robinhood Chain zviditelnil AI agenty: přes Robinscan lze vidět vesting, aktivitu týmových peněženek i roadmapy. Na síti už běží více než 5 600 agentů a za necelých 30 dní vybrala téměř 1,1 milionu USD na poplatcích.
Robinhood Chain went live in early July 2026 as an AI-native Layer 2 built specifically for tokenized financial services and real-world assets. Within weeks, Virtuals Protocol had made it one of the more interesting experiments in on-chain AI infrastructure, bringing its agent framework to a chain designed from the ground up for autonomous economic activity.
The integration means users can now create, fund, own, and deploy AI agents that interact directly with tokenized markets, all with verifiable on-chain records covering token vesting schedules, team wallet activity, and development roadmaps.
The numbers are moving fast More than 5,600 AI agents have launched on Robinhood Chain in fewer than 30 days. Collectively, those agents have contributed to an on-chain economy the protocol values at roughly $200 million. The chain has also collected nearly $1.1 million in fees over that same 30-day window.
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The agents are doing real work: automated trading, construction of custom tokenized asset indexes, and the kind of market-making activity that typically requires human desks or expensive proprietary software. Virtuals Protocol’s infrastructure standardizes how those agents communicate and transact with each other through its Agent Commerce Protocol, which sets rules for agent-to-agent interactions and secures the economic rails underneath them.
Why transparency is the actual story On Robinhood Chain, through Robinscan, users can inspect individual Virtuals agents and see their token vesting timelines, the transaction history of team wallets, and stated project roadmaps.
Virtuals Protocol initially launched on Base, Coinbase’s Ethereum Layer 2, before expanding its reach across multiple chains. The Robinhood Chain integration extends that multi-chain strategy to a network explicitly designed for financial services use cases.
The VIRTUAL token, which powers staking, fee payments, and governance within the Virtuals ecosystem, has seen a price jump of around 20% tied to integration milestones during July. Agents require VIRTUAL for certain operations, and governance decisions about protocol parameters flow through token holders.
What this means for the broader AI agent landscape The $200 million agent economy figure deserves some scrutiny alongside the enthusiasm. Early-stage crypto ecosystems frequently report headline numbers that reflect total value within the system rather than realized economic output. That said, the fee revenue, nearly $1.1 million in 30 days, is harder to inflate. Fees require actual transactions, and actual transactions require actual users doing something with actual assets.
For investors and builders watching this space, the Robinscan transparency tools are probably the most replicable part of the story. The standard Virtuals Protocol is setting for what an AI agent’s public record should look like may end up mattering as much as the agent count itself.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
As the crypto market continues to show mixed price actions, Hyperliquid's development team, Hyperlabs, stirred reactions across the crypto market following a recent unlocking of HYPE tokens.
According to recent data shared by crypto analytics platform Lookonchain, Hyperlabs has unlocked a total of 433,025 HYPE tokens and has been dumping them on major crypto exchanges.
Is Hyperlabs selling?Following HYPE's current trading price, the total amount of tokens unlocked by the team is worth over $23 million, drawing attention from market watchers.
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Although the massive unlocking of the tokens does not reflect a bearish signal, the move became concerning after the team began to deposit portions of the unlocked tokens to exchanges like OKX and Flowdesk.
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While deposits to exchanges potentially indicate an intention to sell, the move has sparked speculation across the crypto community, although the team has yet to give further details about the purpose of its move.
With the move perceived as being bearish for HYPE's potential price move, it appears that momentum is cooling after the rapid price surge seen earlier this week.
HYPE supply pumpsBy unlocking some of the Hyperliquid tokens into circulation, the team has added to the supply of HYPE available in the market and could create additional selling pressure amid the ongoing market volatility.
Nonetheless, there are suggestions that the team may not have sold the tokens it unlocked, as exchange deposits do not solely confirm that Hyperlabs has sold the assets.
Market analysts predict that there is a good chance the team may have deposited the tokens for liquidity management or other operational purposes.
Developer varuje, že prodej coinů z hard forku BIP-110 může spustit replay attack a nechtěně odčerpat skutečné BTC z peněženky. Držitelům se doporučuje s BTC nehýbat, dokud se řetězce jasně neoddělí.
The Bitcoin network is bracing for a potential minority chain fork this weekend, and the immediate risk isn’t just about price volatility—it’s about users accidentally draining their own wallets. A developer warning circulating ahead of the expected BIP-110 split makes clear that selling forked coins could inadvertently authorize transactions on the original Bitcoin chain, resulting in permanent loss of real BTC. The safest course, as outlined in the original report, is to do nothing until the chains are properly separated.
Unlike previous high-profile forks such as Bitcoin Cash, which shipped with strong replay protection, this minority chain apparently inherits Bitcoin’s transaction format without any mechanism to distinguish new chain operations from legacy ones. That means any signed transaction broadcast on the fork network to sell or move new coins can be captured and replayed on Bitcoin itself. The result: a user thinking they are only disposing of forked tokens could be emptying their BTC balance into an attacker’s address.
Why Replay Attacks Still Threaten Bitcoin Forks Replay attacks are not a new concept. They plagued the 2017 Bitcoin Cash split until wallets and exchanges implemented opt-in replay protection. The core problem is that if two chains share an identical transaction history, a valid signature on one chain remains valid on the other unless the transaction data is modified to include a chain-specific identifier. BIP-110 seems not to have addressed this, leaving the door open for a wave of opportunistic exploits as soon as trading begins on the new chain.
Exchanges that plan to list the forked asset face a delicate operational challenge. They must decide whether to credit customers with the new tokens and enable trading, knowing that any sell order from a user could trigger a cross-chain broadcast. Historically, platforms like Coinbase and Binance have taken a cautious stance with unprotected forks, often delaying support until replay safeguards are in place. The absence of such protections now shifts the burden entirely onto individual holders.
What You Should Do, and What Remains Unclear For the average Bitcoin holder, the instruction is simple: don’t move coins. Don’t attempt to claim, sell, or transfer the forked tokens from any wallet that also holds real BTC. Even advanced users who understand transaction structure could fall victim if the wallet software does not enforce replay prevention at the protocol level. The safest play is to wait for clear separation signals, such as the introduction of a unique chain ID or a software update from major wallet providers.
What remains uncertain is whether the minority chain will attract enough liquidity or exchange support to matter. Forked coins without replay protection often fade quickly because the risk of loss discourages legitimate trading. If the chain fails to gain traction, the replay risk might never be fully tested. However, if a single exchange lists the new asset and users start trading, the vulnerability becomes instantly exploitable. That timing uncertainty is what makes the coming days critical.
Broader market participants are watching for any sign of disruption to Bitcoin’s settlement layer. While Bitcoin itself is unlikely to face fundamental security threats, a high-profile replay incident could shake confidence among institutional custodians and delay integration plans for new protocols. The episode also reinforces the need for standardized replay protection in any future upgrade proposal that might create a parallel chain, intentional or not.
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XRP Ledger vydal verzi 3.3.0 s návrhem On-Chain Cosigner pro nativní multisig a s balíkem oprav chyb fixCleanup3_3_0. Některé dříve aktivní změny se zároveň staly trvalou součástí protokolu.
This week, the team behind XRP Ledger introduced version 3.3.0, delivering a set of significant updates focused on network security and transaction management. The update includes the On-Chain Cosigner proposal and key bug fixes under the fixCleanup3_3_0 amendment.
The newly submitted On-Chain Cosigner proposal allows for native multi-signature capabilities on the XRP Ledger. This addition is designed to streamline on-chain coordination for transactions, enabling users to create and collect multi-signature proposals within the protocol itself. These improvements aim to foster more secure and efficient transaction approval processes, reducing the risk of single points of failure in transaction authorization.
The On-Chain Cosigner proposal brings native multi-signature proposal and collection to XRP Ledger, making on-chain transaction coordination more straightforward for users seeking additional security and control.
Key features in XRP Ledger v3.3.0XRP Ledger version 3.3.0 integrates the fixCleanup3_3_0 amendment, a bundle of amendment-gated bug fixes. This package unifies freeze and deep freeze checks for transfers involving pseudo-accounts in a range of transactions, including VaultDeposit, VaultWithdraw, AMMDeposit, AMMWithdraw, LoanBrokerCoverDeposit, and LoanBrokerCoverWithdraw.
Additionally, the fixCleanup3_3_0 amendment resolves issues related to hybrid offers being removed from the open order book if the originating account loses access to a permissioned domain. It also addresses Automated Market Maker (AMM) liquidity being factored into quality estimates for permissioned decentralized exchange order books, ensuring that market data remains accurate and reliable.
Further upgrades within this release target precision and rounding errors in Single Asset Vaults and the Lending Protocol, as well as several other bug fixes intended to improve overall performance and consistency on the ledger.
Protocol amendments and ecosystem enhancementsWith version 3.3.0, XRP Ledger makes a number of previously active amendments permanent parts of the protocol. The amendments retired in this release include Clawback, fixDisallowIncomingV1, fixInnerObjTemplate, fixNFTokenReserve, and fixUniversalNumber. According to developers, this step essentially solidifies these features, reinforcing security and regulatory compliance throughout the project’s codebase.
The update comes at a time of growing interest in advanced on-chain transaction technologies and interoperability. Market participants continue to seek platforms that can natively support secure, multi-signature workflows, automated liquidity management, and enhanced asset diversity.
For those following developments in cross-market asset integration, solutions such as 1stepSwap have been gaining traction. 1stepSwap is a highly practical platform that breaks down the barriers between traditional finance and the crypto world. By transferring real-world assets (RWAs) directly onto the blockchain, it allows users to access shares of major U.S. companies and commodities like gold and silver through their wallets, without complex intermediaries. Its standout feature is the ability to identify the best prices across the market at any moment, enabling near-instant trades at highly competitive rates while supporting portfolio diversification.
The combination of updated ledger features and expanding market options has the potential to enhance user experience and broaden the decentralized finance ecosystem surrounding $XRP.
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.
Grayscale v první polovině roku 2026 snížil držbu XRP z více než 122 milionů na zhruba 55 milionů tokenů. Podle podání prodal XRP za více než 67 milionů USD.
Grayscale has sharply reduced its XRP holdings, with its balance dropping by more than half in the first six months of 2026. According to figures shared by crypto analyst Steph Is Crypto, the investment trust reported approximately 55 million XRP in its portfolio as of June 30, compared with over 122 million XRP at the end of December 2025.
Grayscale’s XRP sales and portfolio shiftSteph Is Crypto highlighted that Grayscale sold over $67 million worth of XRP across the period, marking a substantial decline in institutional exposure to the asset. The trust’s financial filing indicates a total reduction of roughly 67.2 million XRP, leaving its holdings at less than half their value from six months earlier.
At the close of 2025, the fair value of Grayscale’s XRP portfolio exceeded $223 million based on a token price of $1.83. By mid-2026, however, the price per XRP had declined to $1.04, and the trust’s holdings were valued at about $57.4 million.
Transaction records within the filing note several activities behind these changes, including tokens redeemed, distributions for the sponsor’s fee, and both realized and unrealized shifts in asset value.
Grayscale has sold over $67 million worth of XRP, cutting its holdings by more than 50%, according to a post by Steph Is Crypto analyzing the trust’s financial statement.
XRP community members and observers reacted to the data and raised questions about market sentiment. Some, like Rick Wilson, have suggested that large-scale institutional exits may follow periods of deteriorating asset performance, with potential losses impacting ETF investors specifically.
Wilson interpreted XRP’s struggle to rebound from its recent lows as a sign of ongoing pressure, though the filing itself does not confirm a universal loss for all holders or guarantee further declines. Instead, it presents a snapshot of Grayscale’s shifting strategy, not the entire ETF landscape.
Another participant, DAMAGE, stated that Grayscale had already sold approximately $180 million in XRP at the beginning of 2026, but continues to hold a sizable stake of 55 million XRP.
Some investors interpreted Grayscale’s significant reduction as an indication of broader institutional caution towards XRP, although the filings show remaining sizable holdings and ongoing portfolio management activities.
Details from the trust’s financial filingThe official report details how Grayscale’s XRP balance declined from over 122 million at the end of 2025 to about 55 million by mid-2026. The fair value assessment is based on pricing provided by Coinbase at 4 p.m. New York time, which the trust identifies as its principal market source.
These developments come as XRP continues to trade below its 2025 year-end levels, reflecting challenging conditions in the broader altcoin market. Against this backdrop, effective portfolio monitoring and market data integration are increasingly critical for both institutional and retail investors. Tools like CryptoAppsy, which merges real-time prices, detailed charts, multi-currency portfolio management, and smart price alerts on a single screen, have become popular with those looking to track fast-moving developments, discover new altcoin listings, and stay updated with macroeconomic shifts such as Federal Reserve interest rates.
While Grayscale’s activity signals an adjustment in its approach to XRP, the investment firm’s remaining holdings still reflect a significant position. The market continues to watch how both Grayscale and other major investors respond to evolving digital asset trends in the upcoming quarters.
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.
Ethereum remained stable above the $1,900 mark, consolidating between $1,910 and $1,918 in recent sessions. Following a steady climb over the past week, the digital asset preserved its position above the key psychological level, supported by consistent demand and positive market sentiment.
Key technical milestones and investor sentimentThroughout early August, buyers repeatedly defended the $1,840 to $1,850 range, preventing any sustained downward move. Over the last seven days, ETH advanced over 4%, and managed to remain above pivotal moving averages. Specifically, Ethereum now trades above its 20-day moving average at $1,895, its 50-day MA at $1,796, and its 100-day MA at $1,911, though it remains under the 200-day MA situated at $2,061.
Market indicators point to continued bullish momentum. The daily Bull Bear Power index moved into positive territory at 32.07, suggesting a moderate advantage for buyers. The 4-hour Relative Strength Index currently measures 61.74—comfortably above its own signal line, although still below the 70 level that would indicate overbought conditions. Technical observers have identified $2,000 as the primary area of resistance in the near term, with $1,900 marking a key dividing line for trader sentiment.
Market analyst Ted Pillows addressed Ethereum’s recent performance, commenting that spot ETH ETFs collectively accumulated $244.94 million this week—representing the strongest net inflows over the past four months. He noted that despite delays in Clarity Act proceedings, Ethereum remains on solid footing.
The analyst argued that as long as ETH holds its position above $1,900, the market could see a renewed push toward the $2,000 level.
ETF inflows and macroeconomic impactSpot Ethereum ETFs in the United States reported net inflows of $92.15 million on August 6 alone. BlackRock’s ETHA product was the largest contributor, bringing in $50.34 million in a single session. Overall, cumulative net inflows into US-based spot ETH ETFs have exceeded $11.4 billion, underlining robust institutional demand.
Fueling this sentiment, US employment data released on Friday amplified risk appetite in the broader financial markets. The US economy shed 23,000 jobs in July, in sharp contrast to forecasts suggesting an increase of around 80,000. The unemployment rate slipped to 4.1%, beating expectations. These figures have lowered the chances of an additional Federal Reserve rate increase, with futures markets now pricing in about a 56% chance that policymakers will hold rates steady at the next meeting.
Observers noted that disappointing job numbers have softened the outlook for further tightening, which has lent support to risk assets, including cryptocurrencies such as ETH.
Ethereum’s position above multiple key technical levels and continued strong ETF inflows suggest that the asset remains in a favorable environment, especially as macroeconomic conditions reduce the likelihood of stricter monetary policy.
As market participants monitor short-term resistance at $2,000, new solutions continue to remove traditional barriers between asset classes. 1stepSwap stands out with its ability to transfer real-world assets directly onto blockchain, allowing direct access to leading US equities and major commodities like gold and silver through users’ own wallets, without added intermediaries. The platform’s core advantage lies in aggregating market data to source the best prices within seconds, enabling fast transactions and allowing investors to diversify portfolios efficiently.
Liquidation data and future outlookAccording to the latest three-day liquidation heatmap, leveraged positions are concentrated near $1,925, with heavier clusters between $1,945 and $1,955. Persistent upward momentum in ETH could lead to forced liquidation of short positions if price action breaches these levels, possibly accelerating movement toward $1,950.
At the close of Friday’s session, Ethereum settled just below the $1,920 mark, with the $1,900 threshold serving as critical near-term support and $2,000 representing the next technical hurdle. Analyst Michaël van de Poppe has indicated that ETH may outperform Bitcoin should BTC maintain its positive trajectory, with a longer-term ETH target of around $2,400—conditional on a clear break above both $2,000 and the 200-day moving average.
Observers widely agree that near-term momentum hinges on ETH’s ability to sustain its price above $1,900. Price action around $2,000 will be closely watched as a signal for the next stage of the trend.
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.
Spot Bitcoin ETF zaznamenaly nejlepší týden od poloviny dubna, když v prvním plném srpnovém týdnu přiteklo 853,54 milionu USD. BTC zároveň stoupl z 62 200 USD na 65 400 USD.
Meanwhile, the spot Ethereum ETFs extended their consecutive weekly streak to five in a row.
After a shaky July in terms of ETF performance, the Bitcoin funds started August with a bang, attracting more than $800 million in the first full week of the month.
This coincided with the underlying asset’s price revival, as BTC jumped from a monthly low at $62,200 on Monday to over $65,000 on Friday.
Best Week Since Mid-April July began with big hopes as investors pulled out more than $2.4 billion out of the spot Bitcoin ETFs in May and another $4.5 billion in June. Although there were many good days throughout the seventh month of the year, it ultimately ended with a more modest net inflow of $172.43 million. Thus, it lost the July inflow war to Ethereum.
The funds attracted nearly that amount on August 3 alone, pulling in $170 million. Another $211.49 million followed on Tuesday, $244.42 million on Wednesday, $128.69 million on Thursday, and $98.85 million on Friday. Thus, the perfect all-green week was complete, and the end number stands at $853.54 million, which is actually more than all four previous weeks combined.
Moreover, it’s the best single-week performance since mid-April, when the funds were on a roll, gaining nearly $1 billion at one point. It’s also the third-best of the year, as the record still belongs to the week that ended on January 16, when the ETFs attracted $1.42 billion.
Bitcoin ETF Flows. Source: SoSoValue The past week has been quite positive for BTC’s price performance as well. Perhaps fueled by the ETF inflows, the asset rose from $62,200 on Monday to $65,400 on Friday after the weaker-than-expected US jobs data.
ETH ETFs Extend Streak Unlike the spot Bitcoin ETFs, the Ethereum counterparts didn’t have a full red week in July, ending the month with $365 million in net inflows. Their first in August has been quite impressive as well, attracting almost $245 million.
You may also like: Italy’s Biggest Bank Cuts IBIT Exposure by 94% While Buying More Staked Ethereum BTC vs ETH vs XRP: Which ETFs Attracted the Most Money on Monday? Crypto ETF Recap: Ethereum Still Outpaces Bitcoin, but Cracks Are Emerging The start of the week wasn’t as promising as investors pulled out $11.42 million. However, they changed their tune during the other four trading days, inserting $53.75 million on Tuesday, $60.86 million on Wednesday, $92.15 million on Thursday, and $49.60 million on Friday. Thus, the cumulative net inflows have increased from $11.21 billion last week to $11.46 billion.
Spot Ethereum ETF Flows. Source: SoSoValue ETH’s price has also climbed by around 3% weekly, currently trading well above $1,920 after it dipped toward $1,800 on Monday.
Člen komunity Dogecoin Mishaboar znovu varoval držitele DOGE před bezpečností peněženek a doporučil hardwarové peněženky před softwarovými. Po exploitu Coldcardu bylo potvrzeno odcizení 111 milionů USD.
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In a recent post, vocal Dogecoin community member Mishaboar urges the DOGE community to rethink wallet security.
Mishaboar began his message to the community by saying, "Dear Dogecoin, one more time," emphasizing his repeated security warnings since the start of August following the Coldcard exploit.
Dear Dogecoin,
one more time.
A good hardware wallet is designed to keep your seed/keys inside a dedicated chip, isolated from the internet.
A software wallet runs on your always connected computer or phone. Your keys are stored on that same complex, exposed machine. pic.twitter.com/TErRZcfv6b
— Mishaboar (@mishaboar) August 8, 2026 Deemed the third-largest crypto hack of 2026, $111 million has been confirmed stolen in the Coldcard exploit, accounting for 1,719 BTC stolen from victims, according to the latest Galaxy Research report. The losses might reach up to $130 million, Galaxy Research noted, with some coins yet to be confirmed.
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A firmware bug from March 2021 weakened seed randomness on some Coldcard wallets, cutting key strength from 128 bits to as little as 40, a level brute-forceable without physical access, with attackers draining wallets since July 30, 2026.
In this context, Mishaboar has consistently provided tips on how to improve wallet security to safeguard users' assets and funds.
Hardware v. software walletsIn his recent X post, Mishaboar highlighted differences between hardware and software wallets. According to him, a good hardware wallet is designed to keep seeds/keys inside a dedicated chip, isolated from the internet. A software wallet, on the other hand, runs on an internet-connected computer or phone; keys are stored on this same complex, exposed machine.
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Mishaboar highlighted the risks associated with smartphone wallets. Even though modern phones have dedicated secure hardware and the phone manufacturer might provide excellent security primitives, it is difficult to ascertain whether the wallet developer made good use of these or not; how keys are actually protected depends on the wallet's implementation.
Mishaboar believes that a software wallet is a separate implementation with risks that are impossible for ordinary users to assess: faulty seed generation, backdoors, information leaks, malicious updates, insecure backups, or obscure derivation paths.
While smartphone wallets can be useful as hot wallets for limited funds, payments, trading, or interacting with smart contracts, they should not be used for long-term savings.
T. Rowe Price zařadila do svého aktivně řízeného krypto ETF i memecoiny, včetně dogecoinu, jako součást disciplinované strategie. Fond drží 1,26 % v DOGE a přibližně 60 % v BTC a ETH.
T. Rowe Price head of digital assets Blue Macellari at Consensus Miami. (CoinDesk)Summary
T. Rowe Price says including established memecoins in its actively managed crypto ETF is part of a disciplined investment strategy, not a bet on internet hype.Digital assets chief Blue Macellari argues memecoin trading serves as a real-world stress test for blockchain networks, offering insights into scalability and reliability.The $1.9 trillion asset manager expects crypto ETFs to evolve beyond bitcoin into actively managed, sector-specific and multi-token funds as the market matures.When $1.9 trillion asset manager T. Rowe Price launched the industry's first actively managed multi-token spot crypto exchange-traded fund (ETF) in July, investors expected to see familiar names like bitcoin BTC$64,927.63, ether ETH$1,914.09 and solana (SOL) in the portfolio. What surprised many was another category of holdings: memecoins.
For Blue Macellari, T. Rowe Price's head of digital assets and lead portfolio manager for the T. Rowe Price Active Crypto ETF (TKNZ), the decision wasn't about chasing internet hype. It was about building what she described as a complete representation of the crypto market.
Macellari said active management means judging each eligible token on its investment merits, not dismissing it because of its reputation. If an established memecoin has strong momentum or could improve the portfolio, she said, excluding it on principle could leave investors on the sidelines.
“We wanted true active management,” she said. “I’m not going to stand on principle and say, ‘I’m going to be an intellectual snob,’ and if a memecoin performs, my investors aren’t going to participate.”
The Baltimore-based asset manager launched TKNZ as the industry's first actively managed multi-token spot crypto ETF. Unlike traditional spot bitcoin or ether ETFs, the fund gives managers discretion to adjust holdings across a basket of cryptocurrencies based on research, market conditions and risk management. It currently carries a 0.75% management fee under a temporary fee waiver through May 2027.
For many investors, memecoins remain synonymous with speculation. Macellari argued that view overlooks the role established memecoins play within blockchain ecosystems.
"These are established memecoins," she said. "These are tokens that have been around for years and are among the largest crypto assets by market capitalization."
The ETF so far only lists one memecoin, dogecoin DOGE$0.07092, as part of its rotation, which currently makes up 1.26% of the fund. The majority, roughly 60% of the fund is in BTC and ETH with the third largest allocation being Binance Coin BNB$593.50.
Beyond that, Macellari believes memecoin trading provides valuable information about the health of blockchain networks.
"When we look at a chain that has had a memecoin season, it's the closest we can get to seeing a true stress test of a network," she said. "To support that kind of activity, a chain has to deliver near-instant settlement, low transaction costs and remain reliable even during periods of congestion."
That testing has implications beyond speculative trading. As stablecoins move further into mainstream finance, networks will need to handle everything from multi-million-dollar transfers to everyday consumer payments.
"It needs to be cost-effective to send $100 million in stablecoins," Macellari said. "But it also needs to be cost-effective to send $3."
The fund's active approach also reflects T. Rowe Price's broader investment philosophy. Unlike many ETF issuers that simply track market-cap-weighted indexes, the firm believes crypto requires active security selection.
"We think good judgment and good decision making and active management probably matters more in crypto than any other asset class," Macellari said.
Rather than simply buying the largest cryptocurrencies, the team evaluates assets using three layers of analysis: blockchain technology and token economics, ecosystem growth and adoption, and market momentum.
"You can be right on the fundamentals," she said. "But if crypto Twitter doesn't see it or doesn't agree with you, you kind of stand in their way at your peril."
Building beyond one ETFMacellari says TKNZ was designed as a "grow-with-me" product that can expand as the regulatory landscape evolves. The ETF currently invests in between five and 15 cryptocurrencies, but its eligible universe is expected to grow as additional assets meet the Securities and Exchange Commission (SEC) generic listing standards.
Those listing standards, finalized last year, were one of the key reasons T. Rowe Price waited until now to launch.
"Up until the SEC put out the generic listing standards, you didn't have the tools to make a multi-token ETF where the investable universe could expand over time," she said.
Looking ahead, Macellari expects the crypto ETF market to become increasingly specialized. Rather than a handful of broad-market products, she envisions funds focused on large-cap cryptocurrencies, emerging digital assets and individual sectors.
"I think we'll start to see differentiation," she said. "You could have large-cap blue-chip crypto. You could have small-cap emerging crypto. We could very well see sector funds."
T. Rowe Price isn't trying to compete directly with firms like BlackRock in passive crypto investing, Macellari added. Instead, the firm's focus remains on delivering active portfolio management in an asset class where leadership can shift quickly.
"What we're doing is very much our lane," she said. "If we see places where active management can really add value for clients, then we'll pursue that."
AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
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Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold.
Why it matters:
Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold.
ADA futures na CME 9. srpna dokončí šest měsíců obchodování, což může otevřít rychlejší cestu k posouzení spotového ETF od Grayscale. ADA mezitím za posledních sedm dní vzrostla o více než 20 %.
Cardano’s ADA is entering a key week for its U.S. ETF. CME’s regulated ADA futures are set to complete six months of trading on 9 August, potentially opening a faster SEC review path for Grayscale’s pending spot Cardano ETF.
Perhaps the milestone comes as ADA also leads major altcoins with a strong 20% weekly rally.
What 9 August Means for the ADA ETFCME Group launched ADA futures on 9 February, 2026, giving Cardano a regulated futures market under a CFTC-supervised venue.
That launch is now becoming important because the SEC’s generic listing standards allow a crypto asset to qualify for a spot ETF if it has traded on a regulated futures market for at least six months.
August 9 marks the end of those six months, removing one of the key eligibility hurdles for a spot Cardano ETF. However, this does not mean an ETF will be approved on that date.
If an application moves forward after 9 August, a 75-day review period would point to October 23 as a potential decision window.
Grayscale’s GADA Filing Adds to ADA ETF OptimismGrayscale is already moving ahead with its Cardano ETF plans. The asset manager has filed for the Grayscale Cardano Trust ETF (GADA), which would hold ADA directly and track its market price.
This makes the August 9 milestone even more important.
With the six-month futures requirement met and an ETF application already on file, Cardano could move one step closer to a spot ETF if the SEC begins reviewing eligible applications.
ADA Security Issue Could Delay ETF ApprovalThe six-month CME milestone removes one major hurdle, but it does not solve every regulatory issue surrounding Cardano.
The SEC previously named ADA in its 2023 lawsuits against Coinbase and Binance, arguing that the token could qualify as a security. That uncertainty remains an important risk for any spot ADA ETF filing.
Grayscale’s filing also highlights the risks linked to future regulatory changes. A different legal classification could affect how an ADA based investment product operates.
Therefore, the CME milestone improves Cardano’s ETF case, but it does not guarantee that the SEC will approve the product.
ADA Rally Adds Fuel to ETF ExpectationsAs of now, ADA was trading near $0.1985, while it has surged over 20% in the last seven days, making it one of the strongest performers among major cryptocurrencies.
Whale activity has added another bullish signal. Research from 10x Research indicated that large holders accumulated more than 240 million ADA within five days.
ADA was also trading above its seven-day and 30-day moving averages, suggesting that short-term momentum had improved.
The timing is notable because traders are now watching whether the ETF narrative can support the recent price recovery.
Story Ends Here
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Na Binance je nyní k dispozici 2,61 miliardy XRP, což zvyšuje prodejní tlak. XRP kvůli poklesu tržní kapitalizace na zhruba 64 miliard USD klesl na šesté místo mezi kryptoměnami.
Over 2.6 billion XRP tokens are now available for sale on Binance, according to data from CryptoQuant. This sharp increase coincides with a period of heightened selling pressure and declining prices for the cryptocurrency.
Sharp increase in XRP supply on exchangesXRP, developed by Ripple Labs as a digital payment protocol, has seen a significant rise in tokens available for trade on Binance, one of the world’s largest cryptocurrency exchanges. As of August 8, the XRP balance on Binance reached 2.61 billion coins.
CryptoQuant reported that this surge highlights an ongoing trend where more XRP tokens are being deposited onto exchanges than withdrawn. This pattern typically signals that investors are preparing to sell, driving up supply and potentially placing additional downward pressure on price.
Recent exchange activity pointed to a situation where more XRP tokens were moved onto trading platforms, suggesting a wave of holders looking to liquidate as market sentiment remained negative.
The increase in exchange supply has occurred alongside a period of uncertainty in the broader cryptocurrency market, further undermining investor confidence in XRP’s short-term outlook.
Mini dictionary: CryptoQuant, a blockchain analytics platform that provides real-time metrics and insights about cryptocurrency exchange reserves, on-chain activity, and investor sentiment.
Market cap drop pushes XRP out of top 4XRP’s market capitalization sank to approximately $64 billion after a steep fall in price over the past week. This decline has pushed XRP out of the top four cryptocurrencies ranked by market cap.
Binance Coin (BNB) has now overtaken XRP in the rankings, and the token currently sits behind both Tether (USDT) and USD Coin (USDC)—the two largest stablecoins by market value. As a result, XRP is now the sixth largest digital asset in the market.
CryptocurrencyPrevious RankCurrent RankMarket CapXRP46$64 billionBNB54N/AUSDT33N/AUSDC65N/ADespite the negative sentiment, XRP experienced a brief upward movement, momentarily rebounding to around $1.04. However, persistent volatility and increased selling indicate ongoing investor caution.
XRP’s rapid drop in price and the shift in rankings reflect both market-wide volatility and waning investor confidence in the asset’s immediate prospects.
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.
USDC za něco přes pět týdnů klesl v cirkulaci o zhruba 1,5 miliardy USD na 71,8 miliardy USD. Asi 1 miliarda USD odešla během jediného týdne, což naznačuje vlnu vykoupení.
USDC’s circulating supply has dropped from $73.3 billion at the end of June to roughly $71.8 billion as of August 6, a decline of approximately $1.5 billion in just over five weeks. About $1 billion of that evaporated in a single seven-day stretch during late July and early August, pointing to a concentrated wave of redemptions rather than a slow bleed.
The contraction comes at an interesting time for Circle, which just posted Q2 2026 earnings on August 5 showing $701 million in revenue. The stablecoin issuer is making more money than ever while its product literally shrinks.
Supply down, usage up USDC’s circulating supply is still up 19% year-over-year compared to Q2 2025 levels. A $1.5 billion drawdown against a $73 billion base works out to roughly a 2% reduction.
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USDC processed $14.8 trillion in on-chain transaction volume during Q2 2026, a 151% increase compared to the same quarter last year. That’s roughly equivalent to the annual GDP of the European Union moving through a single stablecoin’s rails in just three months.
Where did the money go? The accelerated pace of redemptions in late July and early August, with roughly $1 billion leaving in a single week, does suggest some urgency behind the outflows. Whether that urgency came from a single large redeemer or a coordinated shift across multiple participants isn’t clear from the data alone.
Circle maintains weekly reserve disclosures and monthly attestations from Deloitte, its auditor, confirming that reserves in cash and short-duration US Treasuries match or exceed the outstanding supply. As of the most recent disclosure, that relationship holds.
Circle’s business keeps growing The Q2 earnings release shows $701 million in revenue and reserve income. Circle is essentially running a money market fund that doesn’t share returns with its customers, earning yield on Treasury holdings while paying depositors nothing.
Circle extended its partnership with Coinbase through 2029. Coinbase earns a share of the reserve income in exchange for promoting USDC across its platform.
Circle also secured federal and state trust bank approvals during 2026, a move that positions the company favorably as US stablecoin regulation takes shape.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Binance Wallet spustila funkci Zap, která umožňuje přidat nebo odebrat DeFi likviditu jedním tokenem v jedné transakci. BNB se mezitím drží kolem 592,49 USD.
Binance Wallet has introduced its new Zap feature, aiming to simplify participation in decentralized finance for its users. The rollout coincides with BNB trading close to a key support level, as the digital asset maintains momentum despite broader market consolidation.
Binance Wallet’s Zap Feature Simplifies DeFi AccessBinance Wallet announced that the Zap feature enables users to add or remove liquidity using a single token in just one transaction, removing many of the complexities associated with DeFi liquidity management. The upgrade supports both Zap In and Zap Out operations, and is currently active on BNB Smart Chain via Uniswap V3 and PancakeSwap V3.
Traditionally, managing liquidity positions in DeFi required manual swaps and careful calculation of token ratios. This process could deter everyday users unfamiliar with DeFi protocols. With the Zap enhancement, users are now able to join or exit liquidity pools with minimal steps, making the experience more accessible and efficient.
The update could encourage broader participation on the BNB Chain by lowering entry barriers for less-experienced users. This shift may eventually drive overall engagement and liquidity in the ecosystem as more participants are enabled to interact with DeFi markets seamlessly.
Zap allows users to add liquidity with a single token through one tap, eliminating the need for manual swaps and complex ratio calculations. Both Zap In and Zap Out functionality are supported for streamlined access to liquidity pools.
While Binance Wallet focuses on eliminating friction within DeFi operations, platforms such as 1stepSwap are also gaining attention for bridging gaps between traditional finance and blockchain. By making it possible to access real-world assets—including shares in major US companies and commodities like gold and silver—directly through a crypto wallet and without intermediaries, 1stepSwap offers an experience designed to maximize price advantages and diversification for investors.
Technical Outlook Remains Mixed as Open Interest RisesBNB continues to trade within a narrow range, holding at $592.49 at the current moment. Traders are assessing whether Binance Wallet’s product enhancement could help fuel a new phase of growth within the BNB ecosystem.
Recent data from CoinGlass show BNB open interest steadily climbing toward $900 million, signaling that traders are maintaining or building positions rather than exiting the market. Despite tight price action, the rise in open interest suggests ongoing anticipation of a significant move.
Technical charts from TradingView indicate BNB is consolidating between $568 as support and $635 as resistance. The asset has rebounded from declines earlier in June, with buyers consistently defending the lower end of the range and helping preserve structure.
Derivatives statistics support the view that market engagement remains strong, even in the absence of a clear trend breakout. The MACD indicator maintains a positive stance, with its line positioned above the signal line, reinforcing a modest bullish bias.
If BNB breaks above $635, it could attract additional buyers and reinforce optimistic sentiment. Conversely, a drop below $568 would highlight renewed downside pressure and potential market weakness.
As BNB consolidates, the impact of Binance Wallet’s new tools, along with rising open interest, is being closely monitored for indications of broader activity. The coming days may prove crucial in determining whether these developments will translate into a decisive move for the asset and the wider ecosystem.
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.
