In brief Jack Mallers stepped down as CEO of Twenty One Capital, announcing his return to Bitcoin payments firm Strike—which will remain an independent company. Tether's plan to merge Twenty One, Strike, and Elektron Energy into a single publicly traded Bitcoin giant has been abandoned. XXI shares fell nearly 18% on Tuesday, extending a decline that has taken the stock down more than 80% from its highs of last year. Jack Mallers has stepped down as CEO of Twenty One Capital, and investors didn't take it well.
Shares of the Bitcoin treasury company—a publicly traded firm that holds Bitcoin on its balance sheet, letting regular investors gain exposure to the cryptocurrency without buying it directly—dropped nearly 15% on Tuesday.
Mallers co-founded Twenty One alongside Tether—the issuer of USDT, the world's most widely used dollar-pegged stablecoin (a digital token that holds a fixed value of one dollar and functions as the backbone of crypto trading)—and listed the company on the New York Stock Exchange in December 2025 through a SPAC merger. A SPAC, or special purpose acquisition company, is a blank check shell firm created specifically to take other companies public faster than a traditional IPO allows.
Twenty One still holds 43,514 BTC. At current prices, that balance sheet is worth more than $4 billion, ranking it second among all public companies for Bitcoin holdings, just behind Michael Saylor's Strategy. Strategy is the company that effectively pioneered the corporate Bitcoin treasury playbook in 2020—borrowing money to buy Bitcoin at scale and daring anyone to tell them it was a bad idea.
The merger that never happenedMallers' exit comes packaged with worse news. Tether's plan to merge three Bitcoin businesses into a single publicly traded entity has officially collapsed, per Bloomberg. The proposed combination would have united Twenty One's treasury operations, Strike's Bitcoin payments and lending platform (which operates in more than 100 countries), and Elektron Energy's mining infrastructure under one publicly listed company.
Tether first pitched the idea in April 2026 at the Bitcoin Conference, and Mallers endorsed it publicly. As Decrypt reported, the deal was billed as a move to create "the premier listed Bitcoin company in the world," combining mining, payments, and treasury management in one stock. Mallers was set to lead the combined entity; Elektron Energy founder Raphael Zagury was slated to become president.
That structure is done. Strike will remain a standalone company. Twenty One and Elektron are still in early discussions about a potential two-way deal, but no agreement has been confirmed or guaranteed.
Mallers kept it brief on X. "This wasn't an easy decision, but it was the right one," he wrote. "My life's work remains Bitcoin. My Bitcoin company is Strike. The work continues."
I've decided to step down as CEO of Twenty One.
This wasn't an easy decision, but it was the right one. This experience brought tremendous clarity about who I am and what I want to build.
My life's work remains Bitcoin. My Bitcoin company is @Strike.
The work continues. pic.twitter.com/L70YFYPt11
— Jack Mallers (@jackmallers) July 21, 2026
Raphael Zagury—founder of Elektron Energy and a former managing director at Deutsche Bank and Merrill Lynch and a vice president at Goldman Sachs—has been named the new CEO. His message to investors sounds nothing like Mallers'.
Where Mallers built Twenty One’s identity around aggressive Bitcoin accumulation, Zagury is promising institutional discipline. Per Tether's official announcement, Zagury said Twenty One "should be measured by the cash flow it generates and the discipline with which it allocates capital."
Bitcoin treasury companies as a category have faced growing skepticism since their initial surge. Twenty One company shares hit a 52-week high of $31.51 before sliding to a low of $4.81. In May 2026, Tether moved to consolidate control by buying out SoftBank's roughly 25% stake—a position the Japanese investment giant had originally paid $999.3 million to acquire.
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United Stables has appointed Chainlink as the official data oracle and cross-chain infrastructure provider for its U stablecoin, which is expanding operations across BNB Chain, Ethereum, and TRON. The partnership aims to enhance the reliability of market data, transparency of reserves, and seamless interoperability as U’s footprint grows among major blockchain networks.
Integration aims to boost transparency and efficiencyExecutives at United Stables stated that the current supply of the U stablecoin has exceeded $1 billion, with daily trading volume surpassing $2.5 billion. The company is working with Chainlink to ensure real-time access to transparent market data and to provide accurate reserve information, key factors regarded as vital to maintaining user trust amid rapid adoption.
In addition to the initial integration with Chainlink’s data oracles, United Stables plans to introduce Chainlink’s Cross-Chain Interoperability Protocol (CCIP) in the future. The goal is to simplify transfers between multiple blockchains and reduce friction in managing liquidity across different networks.
U is structured as a US dollar-pegged stablecoin, backed by a mix of fiat and digital assets held with regulated custodians. United Stables reported that its total value locked (TVL) climbed above $1 billion within three months of launch, making it one of the larger new entrants in the market.
Mini dictionary: Chainlink, a leading decentralized oracle network, provides tamper-proof external data to smart contracts on various blockchains, supporting secure and reliable cross-chain communication.
Reserve transparency in the spotlight for stablecoinsThe rapid rise of algorithmic and asset-backed stablecoins has intensified the focus on reserve transparency. Incidents in recent years, such as the collapse of TerraUSD in 2022 and the brief depegging of USDC in 2023, have highlighted the potential for loss of investor confidence if questions arise about what backs a stablecoin or where reserves are held.
For example, USDC dropped below $0.90 when Circle revealed $3.3 billion of its reserves were at the failed Silicon Valley Bank. The situation stabilized after US regulators intervened to secure depositors, but the episode demonstrated how stablecoins are susceptible to confidence-driven volatility even if the blockchain infrastructure itself remains secure.
Real-time and verifiable reserve reporting is quickly becoming a minimum expectation for any stablecoin aiming for large-scale adoption. The presence of transparent market data and reliable reserve audits is now often as important as the number of exchanges supporting a coin.
Although United Stables emphasizes transparency, stability ultimately depends on the quality and accessibility of reserves during times of stress. Users are cautioned to consider not only reported figures but also the nature, location, and liquidity of backing assets.
Liquidity and utility remain critical for adoptionDespite its $1 billion reported supply, U faces the ongoing challenge of increasing active circulation. The practical value of a stablecoin depends on its real-world utility, including liquidity in decentralized finance (DeFi) protocols, ease of use across exchanges, and reliability for large transfers without significant price impact.
Chainlink recently launched a market data product designed to facilitate the integration of U.S. equities and other traditional assets into blockchain applications. This could further strengthen the infrastructure available for stablecoins such as U by allowing greater access to off-chain data and assets in decentralized systems.
StablecoinCirculating SupplyReserve TransparencyBlockchain SupportU$1 billionReal-time via ChainlinkBNB Chain, Ethereum, TRONUSDCOver $24 billionRegular attestationEthereum, Solana, othersTerraUSD (historical)N/A (collapsed)Algorithmic (failed)Terra NetworkUnited Stables positions itself as a high-transparency stablecoin for multi-chain adoption. However, ongoing scrutiny of reserves and the utility of U across decentralized applications will likely define its long-term role in the growing sector.
As stablecoins expand their reach, user confidence hinges not just on transparent reserves, but also on the availability of robust liquidity and reliability under stress.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
The onchain AI agent market has grown at a pace that few anticipated at the start of 2026. According to agent tracker 8004scan, total registrations have climbed from just 337 in January to more than 330,000 today, and @BNBCHAIN accounts for roughly three in five of them. That puts more than 200,000 AI agents on a single network, exceeding the combined total of every other chain, with the next-closest rival still below 40,000.
A gap that keeps widening The lead is not simply a historical artefact. BNB Chain added more new agents last month than any other network, meaning the margin over rivals is still growing rather than narrowing. The ERC-8004 standard, launched by the Ethereum Foundation, defines how AI agents register onchain identities, manage wallets, and interact with smart contracts autonomously, working like an immutable ID or profile for agents that can operate across any chain that supports the standard. BNB Chain has built on top of that foundation with its own tooling designed to lower the barrier to entry for developers.
BNB Chain extended ERC-8004 with its proprietary BAP-578 standard, which enables agents that are ownable, tradable, and upgradeable, capable of autonomous execution across multiple protocols simultaneously. The network has also published 8004scan as a dedicated explorer, giving developers real-time visibility into agent identity, reputation scores, and activity.
Infrastructure built for scale Developers are using agents to execute DeFi strategies, manage NFT activity, and coordinate cross-chain tasks continuously without human input, running 24 hours a day across multiple protocols. At peak, daily transaction volume tied to ERC-8004 agents on BNB Smart Chain reached approximately 523,000 transactions in a single day, with agent-driven DEX trading volume hitting over $18 million on the same day.
BNB Chain has also moved to make onboarding faster. BNB Agent Studio launched on July 1, 2026, giving developers a streamlined path to create and deploy autonomous onchain AI agents without configuring complex infrastructure from scratch. The platform handles wallet provisioning, agent identity, and payment systems automatically. Building a functional AI agent on a blockchain used to take weeks of wrangling with wallets, identity systems, and payment rails. BNB Chain just made that a 15-minute problem.
With registrations still accelerating and developer tooling maturing quickly, @BNBCHAIN looks increasingly difficult to dislodge as the default home for onchain AI agents.
Sources
The Defiant: BNB Chain Overtakes Ethereum and Base by Number of AI Agents
Crypto Briefing: BNB Chain Launches BNB Agent Studio for Rapid AI Agent Deployment
Crypto.news: BNB Chain Leads All Blockchains for AI Agents
After a decline that dominated the majority of the year, XRP is alive again. On the daily chart, the asset, which is currently trading at $1.13, has clearly formed an ascending triangle. This pattern is frequently linked to bullish continuation or reversal attempts.
The structure indicates that buying pressure is steadily building even though the breakout has not yet happened. The sequence of higher lows that have developed throughout July is the most prominent aspect of XRP's present configuration. There is a rising support line beneath price action because buyers have been drawn to each pullback earlier than the last.
XRP/USDT Chart by TradingViewConcurrently, XRP is still testing resistance from a group of moving averages that are directly above it. Usually, a powerful directional movement resolves this compression between support and resistance. Near the 50-day EMA at $1.17 is the first significant barrier. The focus would shift to the 100-day EMA around $1.24 if a close above that level were successful.
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After that, bulls would move on to the psychologically significant $1.30 area. Additionally, momentum indicators are improving. After months of weakness, the RSI has risen above the neutral 50 level, indicating a change in sentiment. However, trading volume is still low, suggesting that the market is still awaiting confirmation before making large capital commitments.
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While XRP is trading below its longer-term moving averages, especially the 200-day EMA around $1.44, the overall trend is still negative. However, this is one of the strongest price structures seen in a few months.
XRP may enter a much longer recovery phase if buyers are able to overcome the current resistance. On the other hand, the asset would be vulnerable to another decline toward the $1.05–$1.00 support zone if the rising trendline support were lost, invalidating the bullish setup.
Cardano's recovery potentialOne of Cardano's longest stretches of persistent weakness is slowly coming to an end. ADA, which is currently trading at $0.175, has spent the past few weeks regaining important short-term moving averages while laying a foundation above its June lows. The technical picture has significantly improved, even though the asset is still far below significant long-term resistance levels.
ADA's breakout from the horizontal consolidation range that dominated price action for the majority of the spring is among the most significant developments. Before eventually drawing enough buying pressure to move higher, the asset moved sideways for months in the $0.15-$0.16 area. A higher low structure was established by that breakout, which also turned the momentum back to buyers.
ADA/USDT Chart by TradingViewFollowing the initial recovery rally, price action has stabilized thanks to the support provided by the 20-day and 50-day EMAs. In the meantime, the RSI has risen above 56, suggesting that bullish momentum is getting stronger without getting close to overbought territory. If market conditions continue to be favorable, this allows for further upside. The next important level is located around $0.20, close to the 100-day EMA.
This region denotes a significant psychological threshold as well as technical resistance. ADA's outlook would be greatly enhanced by a clear move above $0.20, which might also lead to a wider advance toward the $0.22-$0.25 range.
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Additionally, volume activity has improved since the first half of the year, indicating a resurgence of market participation. Even though the long-term trend is still improving, ADA seems to be building a foundation for a more significant reversal later in the year.
The $0.16 support zone is still crucial for the time being. The current recovery will continue as long as Cardano stays above that area, and there is a high likelihood that it will continue to rise toward higher resistance levels.
Stellar's clear recoveryAmong the major altcoins, Stellar is quietly building up one of the cleanest recovery structures in a while. After rising from its June lows, the asset has been consolidating above important moving averages for the past few weeks, currently trading close to $0.19. The technical picture has significantly improved since the first half of the year, even though the overall trend is still cautious.
The convergence of the 20-, 50-, and 100-day EMAs around current price levels is one of the most significant developments. This compression frequently indicates an impending increase in volatility, and XLM seems to be getting close to that turning point. Despite multiple attempts by sellers to drive it lower, the asset has consistently maintained the $0.18 support zone. Market participants are once again paying attention to Stellar, as evidenced by the enormous volume spikes in June.
XLM/USDT Chart by TradingViewEven though those rallies were initially rejected, the pullbacks that followed did not result in lower lows, indicating that buyers are progressively absorbing supply. This narrative is supported by momentum indicators. Before overbought conditions become a concern, the RSI is holding close to 52, providing ample opportunity for additional upside.
The next targets appear close to $0.23 and $0.25, where prior rallies stalled, if bulls can push XLM above the $0.20–$0.21 resistance zone. The key level is currently $0.18. By staying above it, the recovery is maintained and the potential for a more significant trend reversal is preserved.
Any significant breakout attempt would be postponed if there were a breakdown below that support, which would probably draw attention back to the $0.16 region.
Bitcoin is reboundingThe top cryptocurrency, Bitcoin, is currently trading at about $66,300 as it continues to rebound from its severe decline in June. After being under pressure for weeks, Bitcoin has finally started to establish a sequence of higher lows, indicating that buyers are progressively taking back control of the market.
BTC/USDT Chart by TradingViewBitcoin's market structure has significantly improved as a result of the recent recovery, which has propelled it back above both its short- and medium-term moving averages. But the biggest obstacle is still directly above. Throughout the recent decline, the 100-day EMA, which is now close to $68,000, has frequently halted attempts at upside.
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This means that in the near future, the $68,000 area will be the crucial battlefield for Bitcoin. A clear breakout above it could pave the way for the $72,000-$75,000 range and greatly bolster bullish momentum. After months of decline, such a move would also put BTC back in a stronger medium-term trend.
The RSI has risen above 60, indicating a rise in buying pressure without entering overheated territory. Additionally, volume has stabilized, indicating that the panic selling that occurred in June has mostly stopped.
Support between $63,000 and $64,000 is still crucial on the downside. The current recovery is sustained as long as Bitcoin stays above that range. Whether Bitcoin can reclaim the $68,000 mark and demonstrate that a more sustainable advance is in progress is currently the market's main concern.
Cardano is weighing a proposal that could allocate 120 million ADA, valued at approximately $19.2 million, to increase its decentralized finance (DeFi) total value locked (TVL) by $200 million over the next year. While the initiative aims to advance Cardano’s DeFi ecosystem, some analysts caution that financial incentives alone may not address the network’s deeper challenges.
Alpha Growth’s PRIME proposal and phased funding safeguardsCrypto commentator Linda recently explored the PRIME proposal, developed by Alpha Growth, which seeks to enhance liquidity, develop DeFi products, and attract longer-term capital beyond short-lived incentive schemes. Cardano currently holds about $90 million in DeFi TVL and $45 million in stablecoins.
Alpha Growth’s strategy begins with a comprehensive audit covering 20 to 25 DeFi categories. This would be followed by a public gap analysis to identify specific ecosystem weaknesses. Only after these assessments would the actual incentive programs and capital deployment start.
The proposal’s structure includes key safeguards. The transition to the critical third phase, where most funds would be distributed, requires approval from a five-member operating group featuring representatives from Blink Labs, CoinseLion, Midgard Labs, Input Output, and Tweag. If this panel does not agree to proceed, roughly 90 million ADA will remain untouched in the treasury.
Linda highlighted her support for the safeguard: “I personally really, really like that safeguard.”
The preliminary budget allocates $5.6 million to ecosystem grants, $4.3 million for liquidity provider incentives, and $2.4 million for marketing, events, and partnerships. Alpha Growth would receive a $1.7 million fixed management fee, with as much as $4.6 million additionally tied to performance milestones. Remaining funds are designated for audits and compliance expenses.
Budget ItemPlanned AllocationEcosystem grants$5.6 millionLiquidity incentives$4.3 millionMarketing & partnerships$2.4 millionAlpha Growth fixed fee$1.7 millionPerformance-based feeUp to $4.6 millionAudits & complianceRemaining fundsBefore any spending can occur, Cardano governance may need to lift its Net Change Limit—the treasury cap for funding cycles—from 350 million ADA to 500 million ADA. Linda argued that the current ceiling leaves insufficient room to accommodate the proposed initiative.
Mini dictionary: Alpha Growth, a blockchain consulting firm, develops strategies for DeFi project growth and helps optimize liquidity and capital efficiency for emerging crypto ecosystems.
Key adoption barriers and the debate over incentivesAlpha Growth’s analysis points to Cardano’s fragmented and inefficient liquidity as a primary DeFi obstacle. The proposal claims that increasing “organic APR”—returns based on genuine transaction activity rather than external incentives—will help retain capital and users.
Linda, however, expressed skepticism about the effectiveness of such incentives. She noted that despite past campaigns offering high, relatively low-risk yields, Cardano has struggled to achieve broad DeFi adoption. She believes the network needs a unique “killer app” to persuade users to overcome operational hurdles such as new wallets, cross-chain bridges, and unfamiliar DeFi interfaces.
“We don’t just need competitive APRs. We need something that only exists on Cardano”—an application compelling enough to offset onboarding friction, Linda stated.
Additional headwinds include the lack of native USDC stablecoin support; Cardano currently relies on bridged USDCX, which Linda argued may not deliver the trust, liquidity depth, or integrations that users expect. She also cited slower settlement times and less responsive liquidation processes compared to other leading chains.
Alpha Growth’s proposal essentially represents a test case for whether Cardano can cultivate a robust, sustainable DeFi environment. Should efforts fall short of significantly boosting on-chain activity, Linda suggested that Cardano might need to shift focus toward real-world financial infrastructure—a core vision that shaped the project’s initial development.
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.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Zcash (ZEC), a privacy-focused cryptocurrency, has shown signs of recovery from recent lows, but analysts remain cautious as the coin tests a firmly established resistance area. The price action suggests that further upside depends on whether buyers can overcome the current supply barriers with sustained momentum and increased trading volume.
ZEC faces key resistance after reboundRecent analysis highlights a major resistance zone for ZEC in the $550 to $580 range, a region where the asset previously encountered intense selling pressure. Trader @0xWhaleHL observed that ZEC corrected after retesting the lower boundary of this supply zone, confirming it as a pivotal level limiting upward progress.
Charts from Binance perpetual futures illustrate that the 200-period exponential moving average (EMA) on both the 4-hour and daily timeframes adds further weight to this barrier. These overlapping resistance levels are likely to remain the primary obstacle for bulls in the near term.
ZEC’s repeated rejection at the $550–$580 resistance zone continues to cap short-term rallies, requiring buyers to break above this area for a stronger trend to develop.
Higher lows sustain bullish structureDespite the recent stall beneath resistance, market analysts point to a constructive bullish structure for ZEC. Analyst Leo524 noted that the cryptocurrency has consistently formed higher lows, with buyers actively defending the demand region between $440 and $480.
According to Leo524, the bullish outlook will remain valid as long as the $440–$480 support holds. The analyst stated that “a clean break above the current resistance area” would confirm the start of a new upward phase. If this scenario unfolds with strong trading volume and a daily close above resistance, targets at $621 and $688 may come into play.
However, a loss of the $440–$480 range would negate the bullish trend and likely increase downside pressure.
Mini dictionary: Exponential Moving Average (EMA), a technical indicator that gives greater weight to more recent price data, often used to identify trend direction in financial markets.
Technical signals remain mixedTechnical data from TradingView presents a neutral picture overall, with equal influence from buyers and sellers across multiple timeframes. Key momentum indicators such as the Relative Strength Index (RSI), Stochastic %K, Commodity Channel Index (CCI), MACD, and Williams %R are also currently in the neutral range, signaling a lack of clear directional bias.
Oscillators indicate that ZEC is neither overbought nor oversold, placing increased focus on price action and trading volume to guide the next significant move.
With technical oscillators signaling neutrality, traders continue to watch for a volume-backed price breakout to provide confirmation of the next direction.
Moving averages support buyersWhile oscillators remain balanced, moving averages paint a more encouraging picture for bulls. TradingView’s technical assessment classifies ZEC’s moving averages as a Strong Buy, backed by price strength above key EMAs and SMAs for 10, 20, 30, 50, 100, and 200 periods. This configuration suggests that the medium-term trend currently favors buyer momentum, even if immediate gains are limited by resistance.
Market structure and ZEC price predictionZEC has traded in the $540–$550 zone, recording approximately 9% weekly and 15% monthly gains according to TradingView market data. With a market capitalization near $9 billion and over $500 million in 24-hour trading volume, ZEC has maintained sufficient liquidity for potential volatility if momentum accelerates further. However, analysts agree the recovery remains incomplete as long as price action holds below the major supply region.
The current technical outlook for Zcash remains positive, but confirmation of a sustained bullish move depends on an explicit breakout above the $550–$580 resistance band. Should bulls achieve this with increased volume and a daily close above resistance, further targets at $621 and $688 become likely. Conversely, losing the $440–$480 support could shift sentiment and restore downside risk for ZEC.
Level/ZoneTypeImplication$440–$480Demand/SupportStructure remains bullish if held$550–$580Supply/ResistanceBreakout needed for next rally$621TargetUpside target if resistance is broken$688TargetFurther upside potentialDisclaimer: 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.
Kalshi is applying to the U.S. Commodity Futures Trading Commission (CFTC) for permission to introduce perpetual futures contracts on gold, silver and platinum. This move comes part of the company’s latest strategy to expand its derivatives trading from crypto perpetual futures.
Kalshi To Launch Gold, Silver, Platinum Perps For this, Kalshi went through the CFTC’s self-certification process with the proposed contracts, per a Bloomberg report published Tuesday. Within this structure, the regulator will have 45 days to determine if the products can proceed for approval, or whether it should be rejected.
The proposed agreements would not have expiration dates. Traders would have the ability to hold their positions open without going into new futures contracts periodically. It’s not like a traditional futures contract, which has an expiration date.
Kalshi is planning to open for 24-hour derivatives trading from Monday to Friday. Those hours would follow a similar time frame to that used by the underlying precious metals markets.
The company will consider trading hours further down the road, Chief Risk Officer Udesh Jha said.
Perpetual futures were the first to become popular in the crypto trading space. They enable traders to obtain leveraged exposure without a settlement deadline. Generally, the price is maintained in close proximity to the underlying asset by periodic transactions of funding payments between traders.
In recent months, there has been a growing interest in similar contracts of traditional assets. There are already a few crypto-native trading platforms that have launched commodities-based perpetual products, like gold and crude oil.
There was also an increase in demand during the US-Iran conflict. The crypto-based trading platforms that were set up for oil-linked perpetual contracts continued to operate while conventional futures markets were closed.
Recent Legal Battle With CME Group Earlier this year, Kalshi became the first regulated U.S. marketplace to be approved to offer crypto perpetual futures. It launched Bitcoin, Ethereum, XRP futures among other crypto products. This later became the basis for a lawsuit brought by CME Group.
In June, CME filed a lawsuit against the CFTC, claiming perpetual contracts should be classified as swaps, rather than futures. Kalshi says the lawsuit will not affect their product plans.
The move is the latest in an arms race among exchanges to make trading accessible. CFTC just rejected a proposal from the CME to trade oil continuously. CME is also readying up to offer gold futures trading 24/7, adding to the competition in the precious metals derivatives market.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Solana co-founder Anatoly Yakovenko waded into one of tech’s most contentious debates on July 21, arguing that US fair use laws protect AI companies like Anthropic when they use voluntarily published online data to train their models.
Yakovenko’s position is simple: if you put it on the internet voluntarily, AI companies should be able to learn from it. The legal system, however, is still working out whether it agrees.
The legal backdrop is messier than Yakovenko suggests Anthropic, the company he specifically named, recently reached a $1.5B settlement related to copyright infringements involving digital books. A federal judge also issued a mixed ruling that drew a clear line in the sand. Purchased materials used for AI training? Potentially fair use. Pirated copies? Not so much.
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Section 107 of the US Copyright Act, which governs fair use, considers factors like the purpose of the use, the nature of the copyrighted work, and the effect on the market for the original. Courts are evaluating AI training against all four factors, and the results have been anything but uniform.
Yakovenko’s framing focuses on “voluntarily published” content, which is a narrower claim than what many AI companies actually practice.
Why a blockchain founder cares about AI copyright law Yakovenko didn’t announce any specific Solana projects or token launches tied to AI. No new protocol, no partnership reveal, no roadmap. But his public stance on the legality of AI data usage signals where his thinking might be headed. If fair use protections hold up for AI firms, blockchain-based solutions for data provenance become a “nice to have” rather than a legal necessity. If courts tighten restrictions, suddenly those solutions look essential.
Multiple crypto news outlets and analysts amplified his comments on social media, with many tagging $SOL in their discussions.
What this means for investors watching the AI-crypto convergence If US courts ultimately settle on a broad interpretation of fair use that protects AI firms using publicly available data, the urgency for decentralized data marketplaces and on-chain licensing systems diminishes. On the other hand, if the $1.5B Anthropic settlement becomes a template rather than an outlier, AI firms will need robust systems for tracking data provenance, managing licensing, and compensating creators.
The broader risk here is that investors mistake a founder’s policy opinion for a product announcement. Yakovenko articulated a legal position, not a business strategy.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Solana's tokenized equity trading volume quadrupled last quarter, driven largely by SpaceX's record-breaking IPO, according to new research.
Solana (SOL) processed nearly $6 billion in tokenized asset trades last quarter, and almost all of it came from tokenized stocks rather than crypto.
Solana is a high-performance blockchain network best known for its speed and low transaction costs, capable of processing thousands of transactions per second at a fraction of a cent each. Those qualities have long made it a popular venue for crypto trading and meme coins.
But new research from Blockworks shows the network's growth in the second quarter of 2026 came almost entirely from a different source: tokenized versions of real-world stocks.
Tokenized stocks had their breakout quarterTokenized asset trading on Solana hit an all-time high of $5.8 billion in the second quarter, up 114% from the previous quarter, according to Blockworks Research.
The vast majority of that came from tokenized equities specifically, which reached $4.8 billion, more than four times what they did in the first quarter.
The growth accelerated as the quarter progressed. Tokenized equity volume was $670 million in April, $871 million in May, and then jumped to $3.3 billion in June alone, an all-time high for the category. Solana now handles roughly 97% of all tokenized-equity trading across every blockchain.
Much of June's surge traces back to a single event: SpaceX's public listing on June 12, the largest IPO in history.
A tokenized version of the SpaceX stock, issued through Sunrise and distributed via Backpack, accounted for roughly $770 million of that month's volume on its own. Issuers have since added tokenized versions of other companies, including Micron, SanDisk, and the Roundhill Memory ETF, and together with SpaceX, these four assets brought in more than $1 billion in June trading alone.
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The rest of the network told a different storyNot everything on Solana grew this quarter. Real Economic Value, a measure of the network's total revenue from fees and tips, fell 43% to $51 million, continuing a decline that has followed the fading of last year's meme coin frenzy. Priority fees dropped 45% to $30.8 million, and tips paid to validators through Jito fell 50% to $9.9 million.
Revenue generated by applications built on Solana, a separate measure that tracks how much money user-facing products are actually making, fell 31% to $228.4 million, the lowest quarterly total since the first quarter of 2024. Solana's overall share of blockchain revenue also slipped.
The network ranked fourth among all blockchains in Q2 with a 12% share, behind Hyperliquid at 33%, Tron at 21%, and Ethereum at 15%, a decline from the 18% share Solana held in the first quarter.
Most Popular on TheStreet Roundtable:Bitcoin miner stock surges on $9.8 billion AI dealAnalyst cuts crypto firm's price target after 25% layoffsXXI stock plunges 18% after CEO's abrupt exitOverall trading volume on Solana's decentralized exchanges also fell, down 44% to $160.8 billion for the quarter. Even so, Solana still handled more spot trading volume than any other blockchain, representing 32% of the market, ahead of Ethereum's 25%, Base's 16%, and BNB Chain's 12%.
It marked the eighth straight quarter Solana has held more than 30% of that market. Monthly volume also recovered late in the quarter, climbing from $48 billion in May to $60.5 billion in June.
Institutional demand held steadyBitcoin and Ethereum ETPs saw billions of dollars pulled out during the quarter, but funds tracking SOL kept taking in new money, with $120 million in net inflows, slightly ahead of the first quarter's pace. The amount of SOL staked also hit a new high, ending the quarter at 427 million tokens, roughly two-thirds of the entire supply.
Stablecoin supply on the network held steady at $16.3 billion, while the total number of non-vote transactions processed reached 9.8 billion, Solana's second-highest quarterly total on record. Median transaction fees averaged just $0.0004 throughout the quarter.
Solana's next major test is a protocol upgrade called Alpenglow, described as the network's largest to date. It is expected to cut confirmation times to 150 milliseconds, alongside larger blocks, faster slot times, and a new standardized way of sharing block revenue directly with stakers.
Bitcoin Provides Defensive ExposureBlue Macellari, T. Rowe Price’s head of digital assets and the ETF’s lead portfolio manager, said the fund reflects the company’s longstanding emphasis on active management and fundamental research.
"We were never going to launch just a Bitcoin ETF," Macellari said during an appearance on the Crypto Prime podcast on Monday.
Its initial portfolio was led by Bitcoin at roughly 41% and ETH at about 18%, followed by positions in BNB, SOL XRP, HYPE and smaller allocations to other assets.
Macellari described the current market as a crypto winter and noted the fund is positioned relatively defensively, explaining its substantial Bitcoin weighting.
‘Tokenization Good, Crypto Bad’ Is A False DivideMacellari argued that Wall Street often tries to separate tokenization from cryptocurrencies by claiming tokenization is valuable while native digital assets are not.
She rejected that distinction.
If stocks, funds and other financial products migrate to public blockchains, their activity could create value for the networks and native tokens underpinning those systems.
The broader portfolio reflects T. Rowe Price’s bullish outlook on what she called "on-chain finance."
Macellari highlighted Hyperliquid’s revenue model as particularly compelling because it can be understood and valued using metrics familiar to traditional investors.
ETH and SOL may also benefit as financial institutions move tokenized assets and around-the-clock markets onto blockchain networks, she predicts.
Crypto Winter May Approach Its Final StageMacellari explained that the market has been in a persistent downturn since the October 2025 selloff, marking the first crypto winter experienced by many investors through spot exchange-traded products.
Bitcoin has suffered a drawdown of about 50%, while Ethereum, Solana and other altcoins have faced deeper declines.
However, she said the selloff has created more attractive asymmetric opportunities in projects whose underlying adoption and economics remain intact.
The key difference from previous winters is that banks, asset managers and financial platforms have continued developing digital-asset infrastructure rather than abandoning the sector.
Macellari expects choppy conditions and the possibility of further declines through the summer but believes the market could begin emerging from crypto winter heading into Q4.
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HomeCryptoInnovationRamp launches stablecoin accounts and payments for all customers, letting businesses hold and pay in USDC or USDT across seven blockchain networks.
Ramp has made stablecoin accounts and payments available to all its customers, giving businesses one platform to hold, send, and receive both regular dollars and stablecoins like USDC and USDT.
Until now, most finance teams treated stablecoin payments as a separate hassle, requiring a different wallet, no approval controls, and hours of manual reconciliation.
One Ramp beta customer found that stablecoin payments made up just 10% of vendor payments but consumed half of their accounts payable team's time.
Ramp's approach folds stablecoins directly into the same system businesses already use for cards, bills, and accounting, so a payment settling in USDC follows the same approval chain as one settling in dollars.
"Businesses shouldn't need a second financial system just because a payment settles on different rails," said Andrew Chapello, Stablecoin Product Manager at Ramp.
How it actually worksBusinesses can hold stablecoin balances, earn rewards on them, and pay vendors or employees directly from a stablecoin account, a checking account, or a linked bank account, without needing to pre-fund anything.
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Every transaction syncs automatically into the company's existing accounting system with the same categorization and audit trail as a regular payment.
Trending on TheStreet Roundtable:White House official postpones military duty right before a major voteAnalyst reveals Bitcoin is massively undervalued at $65,000Bernie Sanders rallies against crypto, AI in new campaignStablecoin deposits are supported across seven blockchain networks, including Solana, a high-performance blockchain known for its speed and low transaction costs.
Solana has increasingly become a preferred settlement layer for stablecoin activity, and its inclusion here reflects a broader trend of payment platforms building directly on top of it rather than treating it as one option among many.
More than 150 businesses adopted stablecoin accounts during Ramp's public beta, spanning far beyond crypto-native companies, including a farming business and a church managing donations.
Ramp built the feature in partnership with Stripe, whose Bridge and Privy infrastructure powers the stablecoin issuance and wallets behind the scenes. Stablecoin accounts and payments are now available to all Ramp customers.
Solana price has climbed to $78 after buyers defended support near $74, though repeated failures below $80 and lingering concern over the BONK governance attack have kept market sentiment cautious.
Summary
Solana price has recovered to $78 but must close above $80 to confirm a breakout. SOL trades above four key moving averages, while liquidity clusters could trigger a short squeeze. A loss of the $75.55 support would expose $72.50 and the June range floor near $67. According to data from crypto.news, Solana (SOL) price traded at $78.03 at press time, up marginally over the past 24 hours after moving between an intraday low of $77.42 and a high of $78.88. The token has recovered about 5% from its July 18 low but remains below the $82–$84 zone reached earlier this month.
Confidence across the Solana ecosystem took a hit after an attacker drained nearly $20 million from the BonkDAO treasury. According to crypto.news, the attacker spent roughly $4.4 million to acquire enough BONK to meet the governance threshold, then passed a proposal with 99.9% approval.
The incident did not compromise Solana’s base layer, but it exposed weak safeguards within a major ecosystem project. BonkDAO had low voter participation, no execution delay, and enough concentrated voting power for one participant to control the result, according to crypto.news analysis.
Meanwhile, demand through regulated investment products has provided some support. U.S. spot Solana exchange-traded funds recorded $8.36 million in net inflows on July 6, their strongest day in nearly two months, according to data from SoSoValue. Early-July inflows reached about $5.75 million during one full trading week, with no daily outflow reported over the period.
Geopolitical pressure remains a hurdle for high-beta cryptocurrencies. Brent crude settled at $91.01 on July 21 after U.S.-Iran hostilities, and Houthi threats against Red Sea shipping routes raised concern over energy supplies. The dollar index also advanced to 101.16 as traders increased bets that higher oil costs could keep the Federal Reserve focused on inflation, Reuters reported.
A stronger dollar and renewed rate-hike expectations usually reduce demand for speculative assets. Solana may therefore need both crypto-market strength and less pressure from energy prices to sustain a move beyond nearby resistance.
Solana needs a daily close above $80 to unlock the next range The daily chart places SOL directly below resistance at $78.92, a level that previously acted as support in February, April and early June. Buyers briefly reclaimed it during the first half of July, but price slipped back underneath after stalling near $83.
Solana price daily chart — July 22 | Source: crypto.news A daily close above $78.92 would clear the first barrier, while $80 remains the psychological level required to confirm a breakout. Beyond it, the July swing highs between $82.50 and $84 form the next supply zone. A close above $84 could open the route toward $90 and the previous range high near $97.60.
Daily momentum favors another test. The Aroon Up reading stands at 71.43%, while Aroon Down has fallen to zero, showing that recent highs carry more weight than recent lows. However, the Chaikin Money Flow remains slightly negative at -0.02, which shows that capital inflows have not yet matched the price recovery.
According to crypto trader Daan Crypto Trades, SOL has reached a “key high timeframe region” that will decide whether bulls can attack the upper end of the range.
“Either the bulls push through and set a higher low here to take a stab at the range high in the $90s. Or this rejects here and dribbles back down to that mid $60s area.”
The 4-hour chart offers a more constructive setup. SOL trades above its 20-period moving average at $77.01, its 50-period average at $76.42, its 100-period average at $77.60 and its 200-period average at $75.55. Regaining all four lines has placed short-term control with buyers.
Solana 4-hour price chart — July 22 | Source: crypto.news The 4-hour MACD remains above its signal line, although its histogram has narrowed to 0.13. Momentum has therefore stayed positive, but buyers need stronger follow-through before the move can extend through $80.
Derivatives liquidity could help accelerate a breakout. CoinGlass’ three-day liquidation heatmap shows concentrated short-liquidation bands near $78.50, $79.20 and $80.60. A move through $79 could force leveraged bears to close positions and add market buy orders, creating the conditions for a quick test of $81.
Solana liquidation heatmap | Source: CoinGlass Loss of $75.50 would invalidate the bullish setup Below the market, the largest nearby liquidation pools sit around $76.80, $76.10 and $75. A downturn through those levels could trigger long liquidations and pull SOL toward $74, where buyers stepped in during the latest retracement.
The 4-hour 200-period moving average at $75.55 serves as the main invalidation line. A sustained close below it would return SOL beneath its moving-average cluster and expose $72.50, followed by the June range floor near $67.
Oil above $90, further U.S.-Iran escalation, or another Solana ecosystem security incident could strengthen the bearish case. For now, the charts support another attempt at $80, but SOL must close above that level with stronger capital inflows to turn the recovery into a confirmed breakout.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
A recent report indicates that $250 million in USDC liquidity was added to the Solana network. This addition reflects a significant influx of dollar-backed stablecoin resources into the network, consistent with previous large-scale USDC mints on Solana. The increase in liquidity follows a pattern of substantial Circle mints, with notable mints of $1 billion and $3.25 billion occurring earlier this year. These developments are seen as potentially bolstering the Solana ecosystem by providing more liquidity for decentralized finance (DeFi) activities on the network.
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Key Takeaways Markets suggest that the $250 million USDC injection could indicate increased support for the Solana ecosystem. The liquidity boost appears consistent with a trend of large USDC mints on Solana, suggesting potential for enhanced activity. Pricing in related markets appears supportive of scenarios where Solana’s price might see upward pressure due to increased liquidity. What to Watch Market participants may observe whether this liquidity increase leads to heightened activity in Solana-based DeFi platforms. Key actors, such as Solana Labs and Circle, might provide further insights or announcements impacting Solana’s liquidity dynamics. Additionally, watch for any regulatory developments or technological upgrades that could influence Solana’s price trajectory and ecosystem growth.
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Term Structure
Contract Odds Δ since publish Volume 24h August 1 2026 9.5% — — View market → August 1 2026 0.2% — — View market → August 1 2026 0.1% — — View market → August 1 2026 0.9% — — View market → August 1 2026 0.7% — — View market → August 1 2026 0.4% — — View market → August 1 2026 1.8% — — View market → August 1 2026 0.4% — — View market → August 1 2026 2.3% — — View market → August 1 2026 0.1% — — View market → August 1 2026 0.7% — — View market → August 1 2026 0.1% — — View market → August 1 2026 17.5% — — View market → August 1 2026 0.1% — — View market → August 1 2026 0.1% — — View market →
A few months ago, Chiliz laid out a manifesto for the next phase of Fan Tokens – go omnichain, unlock the US market, and turn the promises of SportFi into shipped products.
This week, one of the biggest pieces of that plan lands.
Socios.com, through Fan Token Management (FTM) US (part of The Chiliz Group), has partnered with Playfly Sports to launch the first-ever Fan Tokens in US college sports. Five programs are in at launch: LSU, Maryland, Michigan State, Penn State, and Texas A&M.
Thirty university athletic departments are targeted within the next 12 months. It’s a major first for US sports and the clearest proof yet that the Chiliz 2030 roadmap isn’t just a slide deck.
This is a major milestone with massive potential.
Penn State’s Beaver Stadium (106,572), Texas A&M’s Kyle Field (102,733), and LSU’s Tiger Stadium (102,321) regularly outdraw every NFL stadium in the country. College football alone pulls in more than 39 million fans a season across Division I. This is a US-first for Fan Tokens, but it’s landing in one of the largest, most fiercely loyal fan markets on the planet.
The promise: 2026 will see our re-entry into the US market That line comes straight from the Chiliz 2030 manifesto. It wasn’t a vague ambition. It was a specific commitment, backed by a specific reason, growing regulatory clarity and growing demand from teams and fans.
That clarity arrived in March 2026, when the SEC and CFTC issued joint guidance classifying Fan Tokens as digital collectibles and digital tools, citing Socios.com directly. That guidance is the regulatory foundation this launch stands on.
College sports is a fitting place to start. It’s one of the most passionate fan cultures anywhere, and now those fans get the same kind of digital connection to their programs that supporters of many of the biggest clubs in the world already have.
As Alexandre Dreyfus, CEO and Founder of Chiliz puts it: “These are the first Fan Tokens® in U.S. college sports and represent not only a new frontier for Fan Tokens® but also a new iteration of the established asset class.”
Craig Sloan, CEO of Playfly Sports, framed it from the university side: the partnership gives athletic departments “innovative ways to engage their fans” while opening “a new revenue stream that can help support student-athletes through NIL initiatives.”
Delivering on the vision This launch is the latest in a run of Chiliz 2030 Vision commitments delivered on schedule. Here’s the scorecard so far.
Going omnichain. For seven years, Fan Tokens lived on a single chain. That changed when Chiliz launched them on Solana and Base, built on LayerZero’s Omnichain Fungible Token (OFT) standard. This isn’t the wrapped-token approach most projects use, where a copy of the asset sits on a new chain backed by reserves elsewhere, fragmenting liquidity in the process. It’s a single, unified token supply across all three chains at once. A fan on Socios.com and a trader on Jupiter or Aerodrome are holding the exact same asset. The integration also runs on LayerZero’s multi-DVN security setup, meaning cross-chain transfers are verified by multiple independent networks rather than one point of failure. The result: expanded distribution, deeper liquidity, and for the first time, real DeFi use cases like liquidity pools opening up for Fan Token holders.
The $CHZ buyback. Chiliz 2030 promised a direct value accrual system tying ecosystem activity to $CHZ scarcity. It’s now live: 10% of Fan Token sale revenue across every supported chain is earmarked for $CHZ buybacks. It’s a structural mechanism, not a one-off event. The more Fan Tokens trade, the more $CHZ gets bought back and removed from circulation, a flywheel connecting club activity and fan engagement directly to token economics.
National team tokens, delivered on schedule. The manifesto flagged this as part of the campaign ahead of a summer of football, and Chiliz followed through.
Champions last time around and this year’s runners up Argentina ($ARG) have their own Fan Token, as do Portugal ($POR).
But, before this year’s tournament got under way, new Fan Tokens for Belgium ($BELG) South Africa ($SAFA), Scotland ($SFA) and eventual champions Spain ($SPAIN) landed.
Performance-linked tokenomics
New tokenomics that react to performances were promised in the manifesto.
And, during this summer’s tournament, we saw the first iteration of this with the rollout of performance linked tokenomics for the first time, with participating national team Fan Tokens burned after every win, directly linking performance on the pitch to what happens on-chain.
After Spain beat Argentina 1-0 in the July 19 final, more than 1M $SPAIN tokens had been burned.
Transforming a vision into reality
Put together, this is what Chiliz 2030 execution actually looks like month to month: chain expansion, tokenomics upgrades, national team tokens landing ahead of the World Cup, and now the first Fan Tokens in American college sports, with 30 university athletic departments targeted within the year.
While billions of viewers are watching the 2026 FIFA World Cup for the goals, upsets, and debut nations, a parallel storyline is unfolding on-chain. FIFA’s digital collectibles platform, fan tokens tied to national teams, and a major crypto exchange sponsorship have turned the expanded 48-team tournament into the largest real-world test case for blockchain in sports entertainment.
The tournament, spread across the US, Canada, and Mexico, isn’t just bigger in terms of teams. It’s bigger in terms of crypto infrastructure.
FIFA Collect moves to Avalanche, and fans showed up fast FIFA Collect, the organization’s NFT-based digital collectibles platform, migrated from Algorand to an Avalanche-powered blockchain after May 20, 2025. The switch brought sub-second transaction finality and EVM compatibility, which in plain English means faster purchases and easier integration with the broader Ethereum ecosystem of wallets and tools.
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The early results were striking. An initial NFT drop on the revamped platform raised $115,000 within just 24 minutes before selling out completely.
The platform also supports “Right-to-Buy” tickets, a mechanism designed to combat scalping and fraud by tying ticket access to verified digital ownership.
Kraken steps in as official crypto exchange supporter On June 9, 2026, Kraken was announced as FIFA’s official crypto exchange supporter for the tournament. The partnership focuses on fan engagement and awareness, positioning Kraken’s brand in front of the World Cup’s massive global audience.
Fan tokens spike with match results Six national teams competing in the tournament have official fan tokens, including Argentina, Spain, and Belgium. These tokens, built on the Chiliz blockchain, give holders access to voting rights on minor team decisions and exclusive content. Their prices have shown clear correlation with match outcomes.
During the 2022 Qatar World Cup, fan tokens experienced similar volatility spikes around knockout stage matches. The difference now is that the infrastructure is more mature, the tournament is larger with 48 teams instead of 32, and the crypto market backdrop is considerably different from the post-FTX wasteland of late 2022.
What this means for crypto investors The immediate tokens to watch are AVAX and CHZ, each benefiting from different mechanisms. AVAX gets a demand boost from FIFA Collect transaction volume. CHZ benefits from the speculative frenzy around individual team tokens, with trading volume likely to spike further as the tournament progresses into the knockout rounds.
The 2026 World Cup final is scheduled for July 19. The $115,000 sellout in 24 minutes suggests fan appetite for blockchain-based collectibles is real. FIFA’s willingness to rebuild its entire digital collectibles platform on a new chain, partner with a regulated exchange, and integrate blockchain-based ticketing suggests this isn’t a one-tournament experiment.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
La Liga president Javier Tebas went scorched earth on FIFA president Gianni Infantino in an interview with Italian newspaper Gazzetta dello Sport on July 21, demanding his resignation and declaring that FIFA is “destroying the football industry.”
The power struggle on the pitch Tebas didn’t mince words. “His time is up,” the La Liga chief said, accusing Infantino of misguided policies that have bloated the football calendar and prioritized commercial interests over the sport’s traditional structure.
The timing is pointed. Spain recently won the 2026 World Cup, giving Tebas a platform of strength from which to launch his attack. Meanwhile, Infantino is gearing up for a re-election campaign for a fourth term as FIFA president, with the vote scheduled for March 2027.
The core grievance isn’t new. European leagues have been pushing back against FIFA’s expansion of the World Cup format and the relentless fixture congestion it creates.
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Why crypto cares about a football power struggle FIFA has been on a blockchain spending spree. On June 9, the organization announced Kraken as the Official Crypto Exchange Supporter for the 2026 World Cup.
By mid-July 2026, FIFA’s own blockchain platform, powered by Avalanche, went live for digital collectibles. The platform lets fans buy, sell, and trade officially licensed digital items tied to the tournament.
La Liga itself isn’t sitting on the sidelines either. The Spanish league partnered with Panini to release blockchain-based digital trading cards featuring players from the 2025-26 season, a launch scheduled for April 2026. So both sides of this governance fight have skin in the crypto game.
Then there’s the fan token ecosystem. Platforms like Socios.com, powered by Chiliz, have seen increased activity around World Cup events. Fan tokens let supporters vote on minor club decisions and access exclusive perks. They also trade on secondary markets, which means their value is sensitive to sentiment around the organizations that issue them.
The governance risk nobody’s pricing in A new FIFA president could renegotiate existing deals, deprioritize blockchain initiatives, or shift the commercial strategy entirely. The Kraken partnership, the Avalanche-powered collectibles platform, all of these arrangements were signed under Infantino’s leadership.
For Avalanche specifically, FIFA’s platform represents a high-profile use case that validates the network’s enterprise capabilities. If governance chaos at FIFA slows the rollout or dampens enthusiasm for the collectibles platform, it removes one of Avalanche’s most visible real-world adoption stories.
Chiliz faces a different but related risk. The fan token model relies on clubs and leagues maintaining active, engaged partnerships with the Socios platform. If the power struggle between FIFA and European leagues like La Liga intensifies, leagues might consolidate their own blockchain strategies independently rather than participating in FIFA-aligned ecosystems.
The smart move is to watch the next few months for signals: whether other league presidents join Tebas in calling for change, whether FIFA’s commercial partners issue any public statements of support, and whether Infantino’s re-election bid attracts a credible challenger.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Ten goals. In a third-place match. At the World Cup. England put six past France in Miami on July 18, winning 6-4 in what is now the highest-scoring bronze medal playoff in World Cup history.
For England, it’s their best tournament finish since lifting the actual trophy back in 1966.
A first half that broke France England went into halftime leading 4-0. That’s not a typo.
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Bukayo Saka was the star, scoring a hat-trick to help England build what looked like an insurmountable cushion.
France didn’t roll over. Kylian Mbappé and Ousmane Dembélé were among the scorers as Les Bleus clawed back four goals in the second half. It wasn’t enough. England held on for the 6-4 victory, and the combined 10-goal tally set a new record for bronze medal matches in the tournament’s 96-year history.
Fan tokens caught fire The Chiliz ecosystem, which powers fan tokens through its Socios.com platform, saw trading volumes surge in the wake of England’s win. Neither England nor France currently have dedicated fan tokens on the platform. Tokens like $SPAIN and $ARG, tied to other national teams competing in the tournament, saw increased trading activity linked to the general World Cup buzz.
The tournament also drove significant token burn activity. After the quarterfinal round, 1.16 million $SPAIN tokens were burned, a deflationary mechanism designed to reduce supply and theoretically support price.
Prediction markets had their own moment. Settlement volumes during the tournament reportedly exceeded billions, reflecting the growing appetite for decentralized wagering on real-world sporting outcomes.
What crypto investors should watch CHZ, the native token of the Chiliz blockchain, is the primary vehicle through which most investors get exposure to this sector. Its price action tends to correlate with major sporting events, spiking around tournaments and fading during off-seasons.
If 1.16 million $SPAIN tokens burned after the quarterfinals becomes a standard practice across more teams and more tournaments, the deflationary pressure could compound over time.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Shiba Inu has resumed trading in the green territory amid the broader market rally as bulls appear to be driving demand while momentum builds again.
Following the positive market situation, the Shiba Inu exchange activity has also turned bullish as buying activity on the meme token has increasingly outpaced sell attempts.
SHIB bulls activatePer data provided by crypto analytics platform CryptoQuant, Shiba Inu has seen a mild decline in its exchange netflow, which is currently sitting at -87,572,400,000 SHIB.
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The negative balance in the SHIB exchange flow indicates excessive buy activity over sell attempts.
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This suggests that the amount of SHIB moved out of exchanges to private wallets, which is often a buy signal, is more than the amount of tokens sent to exchanges to potentially sell by over 87 billion SHIB.
This is bullish as it potentially shrinks the available supply of SHIB tokens in circulation, signaling an increase in demand for the leading meme token.
Shiba Inu headed for a major breakout?Following the bullish SHIB exchange activity, its price has also continued to rally, reclaiming $0.0000043 with a decent daily price increase of about 3% after multiple days of extreme volatility.
With the bullish moves coming after several months of consistent downturns, the ongoing rally coinciding with bullish exchange activity has placed SHIB back on track for a major price breakout.
The positive metric extends across the SHIB spot and derivatives markets, suggesting that SHIB futures traders have also regained interest in the meme token.
Shiba Inu (SHIB), one of the most recognized meme coins on the market, has seen a dramatic increase in token burns over the last 24 hours. Despite millions of SHIB being permanently removed from circulation, the token’s price continues to trade around $0.0000042, near its lowest levels in recent years.
Millions of tokens burned, price remains unchangedAccording to on-chain data trackers, over 13 million SHIB tokens were sent to null crypto wallets within a single day, marking a notable uptick in burn activity. These burns, aimed at reducing the available supply, are often regarded as a strategy for strengthening token value over time.
However, the current price action has not reflected the intensity of the latest burn events. Analysts report that SHIB’s price has shown persistent weakness, with minimal price movement despite the sharp reduction in supply. The overwhelming size of SHIB’s circulating supply means that even large burns make little immediate impact unless accompanied by a substantial rise in demand.
Whale activity and technical signalsIn addition to increased burns, there has been clear evidence of whale accumulation as well as notable exchange outflows. Such activity typically signals that large holders are transferring coins to private wallets, which reduces selling pressure in the short term.
Technical analysis indicates that SHIB may be stabilizing after a prolonged downtrend. Early signs of a possible reversal are present but have yet to translate into significant price gains.
Mini dictionary: Whale, a term used in cryptocurrency markets to describe an individual or entity that holds large amounts of a particular digital asset, often having the ability to influence market movements through their trading activity.
Bulls want more than just burnsThe SHIB community has historically rallied around burn campaigns, believing they could spark price surges. This time, however, many traders are calling for new catalysts beyond supply reduction. Ecosystem growth, technical innovation, strategic partnerships, and direct utility are cited as the next requirements for SHIB to attract increased attention and capital.
Market participants are also watching for signs of real progress within the Shiba Inu ecosystem, including updates on Shibarium, the project’s proprietary layer-2 blockchain.
Mini dictionary: Shibarium, a layer-2 blockchain solution designed to improve the scalability and speed of the Shiba Inu ecosystem while reducing transaction fees and supporting decentralized applications.
While the recent rise in burns has fueled optimism in some circles, the dominant mood in the market is one of patience. Observers emphasize that only with meaningful ecosystem expansion and renewed trader interest will SHIB’s price begin to reflect supply reductions.
Market outlook remains cautiousWith billions of tokens remaining in circulation and cautious sentiment across digital assets, smaller supply cuts alone are unlikely to move SHIB’s price meaningfully. Community leaders and active traders suggest the coin needs to prove further adoption, utility, or innovation to regain upward momentum.
If whale accumulation and exchange outflows continue, and SHIB maintains its current support levels, some analysts believe there is potential for a more bullish scenario. Until then, burn activity alone appears insufficient to change the market’s outlook.
DateSHIB Tokens BurnedPrice MovementPast 24 hoursOver 13 millionFlatRecent weeksMillions (aggregate)Downtrend/stableDisclaimer: 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.
Check out why some community members turned against the project's team.
The team behind the popular meme coin tried to settle an interesting competition, but instead became the subject of criticism from its community.
SHIB’s price has finally rebounded, while several bullish factors suggest a much more substantial rally could be on the horizon.
The SHIB Army Demands Action Inspired by Spain’s victory in the FIFA World Cup, Shiba Inu’s official X account tried to settle “the real competition,” asking where on Earth the meme coin has the strongest presence.
Some of the answers included Brazil, Japan, the USA, and Turkey, yet the vast majority of users found the question totally inappropriate, suggesting that SHIB’s team should focus on more pressing matters instead.
Many showed their frustration at the recent inactivity of the entire ecosystem, urging the developers to act fast before they lose even more traction. One X user, named Mehmet, said Shiba Inu’s team has been “mocking” people who trusted the project, adding that he regrets the moment when he learned about SHIB.
“People trusted you and invested. I really regret the day I learned about Shib. Leash has turned to trash. The value of Treat and Bone keeps dropping every day. Shame on you.”
Others went even further, labeling Shiba Inu as a scam and a dead project.
Good Days Ahead? Besides the stalled ecosystem developments, SHIB’s holders are perhaps even more frustrated by the meme coin’s price collapse. It currently trades at around $0.000004272, representing a 72% decline on a yearly scale. On the bright side, this is a 4% increase over the past week, while certain elements signal that the bulls may stage a more decisive comeback in the short term.
The first is the resurgence of Shiba Inu’s burning mechanism. The burn rate has soared by nearly 280% over the last month, indicating that many tokens have been effectively removed from circulation. Still, SHIB’s supply remains extremely large, meaning that both the team and the community will need to ramp up their efforts in that field to support a stronger rally.
SHIB Burn Rate, Source: Shibburn.com Next on the list is the meme coin’s declining amount on exchanges. According to CryptoQuant, the figure has dropped to a fresh five-year low, signaling that numerous investors have abandoned centralized platforms in favor of self-custody wallets, thereby reducing immediate selling pressure.
TLDR: Binance Bitcoin reserves fell to around 650K BTC, nearing a multi-month low point. Reserves declined even as Bitcoin price rose 1.58% in 24 hours, reaching $66,185. Falling reserves suggest investors favor long-term storage over active exchange trading. ETFs and institutional custody growth continue pulling Bitcoin away from exchange wallets. Binance Bitcoin reserves continue to decline, falling to around 650,000 BTC in recent weeks. This marks one of the lowest levels recorded in recent months.
The drop comes as Bitcoin trades at $66,185, up 1.58% over 24 hours and 2.75% for the week. CryptoQuant data shows the trend raises questions about what it means for the broader market.
What Declining Reserves Reveal About Investor Behavior Exchange reserves track the total Bitcoin held on a trading platform at any point. When Binance Bitcoin reserves fall, it often signals that holders are moving coins elsewhere.
Many choose long-term storage over keeping assets ready for quick trades. This shift changes how much Bitcoin sits available for immediate selling.
Source: Cryptoquant
The current decline has taken place while Bitcoin recovers from a recent correction. Prices have climbed even as reserves on Binance keep shrinking.
This pairing suggests withdrawals are not tied to fear or short-term exits. Instead, it points to holders choosing to store coins during a period of price strength.
Binance remains the largest cryptocurrency exchange by trading volume worldwide. Its reserve patterns often mirror sentiment across the broader crypto market.
A steady decline rarely comes from one trader or a small group acting alone. Analysts treat this data as a wider signal of market direction.
Cryptoquant analyst summarized the sentiment online: “Reserves dropping while price climbs tells you where conviction lies.” Posts like this have circulated widely as the trend continues to draw attention from market watchers.
Market Implications as Reserves Keep Falling Persistent declines in Binance Bitcoin reserves generally reduce coins available for quick sale. Lower reserves can tighten supply if buying demand holds steady or grows. This is not treated as a direct signal to buy. Still, it removes one possible source of future selling pressure.
Spot Bitcoin ETFs have expanded steadily, drawing coins away from exchange wallets. Institutional custody options have grown alongside this trend as well.
Both developments give large holders more paths to store Bitcoin off exchanges. Binance Bitcoin reserves have moved lower as these options gain wider adoption.
Bitcoin’s price has stayed resilient throughout this period of reserve decline. Coins continue leaving Binance while the market holds firm overall.
This combination may show accumulation slowly absorbing available supply. If demand keeps rising as reserves fall, liquidity could tighten further across trading platforms.
Reserve data works best alongside other market indicators for full context. ETF flows, stablecoin liquidity, and derivatives positioning all shape the picture.
Binance Bitcoin reserves remain a key figure for tracking investor conviction. As this trend continues, it stands as one signal worth watching closely in the months ahead.
The preliminary offline placement results for Changxin Technology show that a total of 2,459 products under 113 private equity firms secured offline placements in the company, with a total of 161 million shares allocated, amounting to 1.436 billion yuan. The announcement notes that offline institutional investors are divided into Category A (public funds, social security funds, pension funds, enterprise annuities, bank wealth management products, insurance companies, QFIIs) and Category B (private equity firms, broker-dealer proprietary trading, trusts, financial companies, etc.). Category A investors, dominated by public funds, received 1.978 billion shares, accounting for 91% of the total offline issuance; while Category B investors, led by private equity firms, secured 196 million shares, making up only 9% of the total offline issuance. Among the private equity placement list, the top ten by number of placement objects are all leading quantitative private equity firms. Shanghai Yanfu has a total of 282 placement objects allocated, ranking first among private equity firms; Century Front, Jiukun Investment, Shanghai Chengqi, and Huanfang Quant have 209, 194, 167, and 153 placement objects respectively; Lingjun Investment, Shanghai Jinde, and Minghong Investment also have over 100 allocated products each, at 107, 105, and 100 respectively. Notably, Liang Wenfeng, founder of DeepSeek and a prominent private equity figure, took the largest share among private equity placements. Public information shows that the actual controllers of two leading 100-billion-yuan private equity firms, Ningbo Huanfang Quant and Zhejiang Jiuzhang Asset Management, are both Liang Wenfeng. This means that through his two private equity firms, Liang Wenfeng has a total of 194 private equity products allocated, with a total of 20.2497 million shares secured, amounting to approximately 175 million yuan. (The Paper)
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Trump announces 100% tariffs on generic drugs will be imposed two years from now.
US President Trump announced in a post that starting August 1, 2026, all generic drugs imported to the United States will remain subject to zero tariffs for the next two years. After the two-year period, a 100% tariff will be imposed on the relevant products for one year; thereafter, the tariff will be further increased to 200%. Trump stated that the policy is designed to drive the reshoring of generic drug manufacturing to the U.S. Companies that fail to build production facilities and related equipment in the U.S. within the specified timeframe will face tariff penalties. The current policies for patented drugs, branded drugs, and innovative drugs will remain unchanged as they have achieved good results. In an announcement released by the White House on April 2, U.S. President Trump signed a document under Section 232 of the 1962 Trade Expansion Act, imposing a 100% tariff on imported patented drugs and pharmaceutical ingredients. The measure also provides paths for tariff exemptions or reductions, aiming to force pharmaceutical companies to reach agreements with the White House on issues such as drug prices and industry reshoring.
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The Nasdaq 100 index extended its gain to 2%.
According to market data from BIT (bit.com), the Nasdaq 100 Index’s gain widened to 2%, hitting a new daily high. Its constituent stocks posted the following increases: Nebius rose 16.1%, SanDisk gained 13.2%, Teradyne climbed 13.1%, Micron advanced 13%, Western Digital increased 12.8%, Seagate Technology rose 11.5%, while Lumentum and CoreWeave each gained 9.3%.
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US Secret Service conducts special operation against cyber fraud, seizes over $25 million in cryptocurrency assets.
According to official announcements, the U.S. Attorney’s Office for the District of Columbia and the U.S. Secret Service Washington Field Office jointly announced today that multiple investigations conducted by their joint cyber fraud task force have seized over $25 million in cryptocurrency assets. The assets are linked to an international fraud network targeting residents of the U.S. and Canada, and are part of the more than $800 million in illicit assets cumulatively recovered by the U.S. Department of Justice’s Fraud Center Strike Force, which was established in 2025.
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A whale transferred 16 million ENA to Binance, valued at approximately $1.37 million.
According to monitoring by Onchain Lens, a whale address withdrew 16 million ENA tokens (valued at approximately $1.37 million) from a Gnosis multi-sig wallet, then transferred the tokens to Binance, likely preparing to sell.
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SpaceX’s massive lock-up period is approaching, with over $100 billion worth of its stock set to become tradable.
According to Bloomberg, SpaceX has kicked off one of the largest stock lock-up expirations in capital market history, with up to $116 billion worth of shares becoming eligible for sale for the first time next month. The restriction barring insiders from selling up to 911.5 million shares will expire on August 6, two days after the rocket, satellite and artificial intelligence firm releases its first quarterly earnings report. This is just the start; billions of shares will become tradable by the end of this year.
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Analyst: European Central Bank expected to hold interest rates steady this week and maintain a hawkish bias.
Nuveen global investment strategist Laura Cooper said in a report that following June’s interest rate hike, the European Central Bank (ECB) will likely hold interest rates steady at this week’s meeting while maintaining a hawkish stance. Cooper noted that if renewed tensions drive energy prices higher, the ECB will remain open to further policy tightening. She added that inflation is milder than feared, the Purchasing Managers’ Index (PMI) pricing subindex shows almost no signs of reaccelerating, and producer price data confirms upstream cost pressures are easing. “These factors provide a reason for holding steady this month,” she said. The complication is that commodity supplies are being disrupted again, which could reignite energy price pressures just as the ECB gains confidence in its inflation decline path.
Ethereum’s blockchain has registered an exceptional surge in large transactions, as Wrapped Ethereum (WETH) recorded 113,000 whale transfers exceeding $100,000 within the past week. This figure marks the most active whale movement since May 2021 and suggests substantial capital flows across Ethereum’s trading venues, lending markets, and decentralized finance protocols.
Institutional demand on the riseSeveral demand-side factors have contributed to this spike in on-chain activity. U.S. spot Ether exchange-traded funds have seen an uptick in inflows, while BlackRock’s ETH investment products continue to capture new capital from institutional investors. Market participants are interpreting these developments as potential triggers for further network and price growth.
Robinhood Chain’s adoption of ETH as a gas fee currency has also increased the utility of Ethereum in the decentralized exchange landscape, making ETH an even more integral asset for transaction fees and liquidity provision.
In a reflection of this momentum, Bitmine reportedly strengthened its Ethereum reserves to around 5.8 million ETH, signaling a move to position itself ahead of anticipated institutional demand. This action is viewed as part of a broader trend among corporate treasuries leveraging Ethereum’s ecosystem for capital allocation.
Strategic moves and robust network activityAdditional investments from players such as SharpLink and Ethlabs, the latter backed by Joe Lubin, further reinforce expectations of institutional interest within the Ethereum space. These entities see an opportunity in the convergence of ETF adoption, growing Layer 2 development, and increasing corporate engagement.
With numerous technical indicators and capital inflows in play, analysts warn that a sustained upward price movement is not necessarily assured. However, the recent upsurge in high-value transactions highlights a network environment ripe for strategic moves from both retail and institutional users.
The convergence of ETF adoption, Layer 2 expansion, and growing institutional allocations presents a critical point for Ethereum, making its network activity and whale behavior important signals to monitor for market shifts.
Extreme fear underscores current market sentimentDespite the significant on-chain action, market sentiment remains cautious, with indicators currently reading Extreme Fear. This situation amplifies the potential influence of whale activity on price volatility and trader psychology.
At the time of writing, Ethereum trades at approximately $1,932, reflecting a market dynamic shaped by both new institutional accumulation and prevailing uncertainty in sentiment. The balance between these factors could drive further volatility in the days ahead.
In light of heightened transaction volumes and shifting market signals, tools providing real-time analytics and alerts are becoming increasingly essential for active participants trying to stay informed amid rapid market changes. CryptoAppsy, which requires no account creation hassle, combines your crypto investments with real-time prices, detailed charts, and multi-currency portfolio management on a single screen. With this all-in-one financial assistant, you can instantly seize opportunities by setting up smart price alerts, filter news specific to your coins, discover newly listed altcoins without missing them, and always stay one step ahead of the market with critical macroeconomic data such as Fed interest rates.
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.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
According to monitoring by Onchain Lens, a whale address withdrew 16 million ENA tokens (valued at approximately $1.37 million) from a Gnosis multi-sig wallet, then transferred the tokens to Binance, likely preparing to sell.
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The Nasdaq 100 index extended its gain to 2%.
According to market data from BIT (bit.com), the Nasdaq 100 Index’s gain widened to 2%, hitting a new daily high. Its constituent stocks posted the following increases: Nebius rose 16.1%, SanDisk gained 13.2%, Teradyne climbed 13.1%, Micron advanced 13%, Western Digital increased 12.8%, Seagate Technology rose 11.5%, while Lumentum and CoreWeave each gained 9.3%.
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US Secret Service conducts special operation against cyber fraud, seizes over $25 million in cryptocurrency assets.
According to official announcements, the U.S. Attorney’s Office for the District of Columbia and the U.S. Secret Service Washington Field Office jointly announced today that multiple investigations conducted by their joint cyber fraud task force have seized over $25 million in cryptocurrency assets. The assets are linked to an international fraud network targeting residents of the U.S. and Canada, and are part of the more than $800 million in illicit assets cumulatively recovered by the U.S. Department of Justice’s Fraud Center Strike Force, which was established in 2025.
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SpaceX’s massive lock-up period is approaching, with over $100 billion worth of its stock set to become tradable.
According to Bloomberg, SpaceX has kicked off one of the largest stock lock-up expirations in capital market history, with up to $116 billion worth of shares becoming eligible for sale for the first time next month. The restriction barring insiders from selling up to 911.5 million shares will expire on August 6, two days after the rocket, satellite and artificial intelligence firm releases its first quarterly earnings report. This is just the start; billions of shares will become tradable by the end of this year.
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US crypto-related stocks rose broadly, with Coinbase surging more than 12%.
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According to an official announcement, Binance has announced that it will delist the AERGOUSDT U.S. dollar-margined perpetual contract at 14:30 (GMT+8) on July 24, 2026.
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The Nasdaq 100 index extended its gain to 2%.
According to market data from BIT (bit.com), the Nasdaq 100 Index’s gain widened to 2%, hitting a new daily high. Its constituent stocks posted the following increases: Nebius rose 16.1%, SanDisk gained 13.2%, Teradyne climbed 13.1%, Micron advanced 13%, Western Digital increased 12.8%, Seagate Technology rose 11.5%, while Lumentum and CoreWeave each gained 9.3%.
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US Secret Service conducts special operation against cyber fraud, seizes over $25 million in cryptocurrency assets.
According to official announcements, the U.S. Attorney’s Office for the District of Columbia and the U.S. Secret Service Washington Field Office jointly announced today that multiple investigations conducted by their joint cyber fraud task force have seized over $25 million in cryptocurrency assets. The assets are linked to an international fraud network targeting residents of the U.S. and Canada, and are part of the more than $800 million in illicit assets cumulatively recovered by the U.S. Department of Justice’s Fraud Center Strike Force, which was established in 2025.
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A whale transferred 16 million ENA to Binance, valued at approximately $1.37 million.
According to monitoring by Onchain Lens, a whale address withdrew 16 million ENA tokens (valued at approximately $1.37 million) from a Gnosis multi-sig wallet, then transferred the tokens to Binance, likely preparing to sell.
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SpaceX’s massive lock-up period is approaching, with over $100 billion worth of its stock set to become tradable.
According to Bloomberg, SpaceX has kicked off one of the largest stock lock-up expirations in capital market history, with up to $116 billion worth of shares becoming eligible for sale for the first time next month. The restriction barring insiders from selling up to 911.5 million shares will expire on August 6, two days after the rocket, satellite and artificial intelligence firm releases its first quarterly earnings report. This is just the start; billions of shares will become tradable by the end of this year.
6 hours ago
Analyst: European Central Bank expected to hold interest rates steady this week and maintain a hawkish bias.
Nuveen global investment strategist Laura Cooper said in a report that following June’s interest rate hike, the European Central Bank (ECB) will likely hold interest rates steady at this week’s meeting while maintaining a hawkish stance. Cooper noted that if renewed tensions drive energy prices higher, the ECB will remain open to further policy tightening. She added that inflation is milder than feared, the Purchasing Managers’ Index (PMI) pricing subindex shows almost no signs of reaccelerating, and producer price data confirms upstream cost pressures are easing. “These factors provide a reason for holding steady this month,” she said. The complication is that commodity supplies are being disrupted again, which could reignite energy price pressures just as the ECB gains confidence in its inflation decline path.
6 hours ago
US crypto-related stocks rose broadly, with Coinbase surging more than 12%.
According to market data from BIT (bit.com), crypto-related stocks in the US equities market rallied across the board during intraday trading: Circle (CRCL) rose 7.28%, MARA gained 6.56%, Sharplink (SBET) climbed 2.52%, Robinhood (HOOD) advanced 8.34%, Bullish (BLSH) increased 7.71%, Coinbase (COIN) jumped 12.15%, and Strategy (MSTR) rose 4.65%.
Senate Majority Leader John Thune has expressed optimism that they can reach a bipartisan deal to pass the CLARITY Act. This follows an agreement to include an ethics provision in the crypto bill, which aims to curb the involvement of elected officials in crypto.
Senator Thune Expresses Optimism About CLARITY Act Deal In an X post, the Majority Leader said that there is a good chance that they can reach a deal but warned that this could still change. He noted that they were currently working with Democrats to get to a place where Democrats can help deliver the votes they need to get the bill on the floor, but that he is optimistic about it.
Senator Thune had before now said that he hopes to get the CLARITY Act on the Senate floor before August but signaled that he wanted to get a bipartisan deal before he schedules floor time. Meanwhile, it is worth noting that the chances of a bipartisan deal have increased following an ethics agreement.
As CoinGape reported, President Trump agreed to ethics provisions in the crypto bill, paving the way for a deal with Democrats. The ethics issue had been a major obstacle as Democrats had been clamouring for an ethics provision in the bill to rein in Trump’s crypto ventures.
Bessent Also Expresses Optimism About Bill’s Passage U.S. Treasury Secretary also expressed optimism about the CLARITY Act’s potential passage, stating that lawmakers were at the “1-yard line” on the crypto bill. He also urged them to pass the bill before leaving for the August recess.
Senator Kevin Cramer also said that the crypto bill is getting clearer as each issue is dealt with. He added that there has been an agreement on the ethics language, which gives the Justice Department power to be the enforcer rather than different state Attorney Generals. “I think we’re almost there,” he said.
The odds of the CLARITY Act passing this year have surged following the ethics agreement. Data from the top crypto prediction market platform Polymarket shows a 50% chance that President Trump will sign the bill into law this year.
The start of Kraken trading expands U.S. access to Casper and marks a major visibility milestone for the network’s broader ecosystem.Sarson Funds today highlighted that Casper Network is now available for trading on Kraken, marking a major access milestone for U.S.-based participants and the broader Casper ecosystem.
The launch of CSPR trading on Kraken gives U.S.-based participants a more familiar way to access Casper and engage with the network. The listing marks an important shift in visibility, accessibility, and market participation.
As a Layer 1 proof-of-stake blockchain, Casper is building infrastructure for regulated real-world assets (RWAs) and machine-native commerce, two sectors gaining rapid prominence across finance and tech in the U.S. The network’s roadmap focuses on making the ecosystem frictionless for retail users while delivering the controls institutions require for compliant, on-chain workflows.
Sarson Funds recently deepened its involvement in the Casper ecosystem by launching a U.S.-based validator node. Alongside its work around staking access and market education, the firm continues to follow Casper’s development across real-world asset tokenization and machine-native commerce, while helping introduce the network’s infrastructure and long-term potential to a broader U.S. audience.
“Kraken trading going live is an important access milestone for Casper,” said Sarson Funds CEO John Sarson. “It gives U.S.-based participants a clearer path to learn about the network, access CSPR, and engage with an ecosystem that has been building steadily around real-world assets, staking, and enterprise infrastructure.”
Sarson Funds will continue covering Casper’s progress and expanding U.S. presence across its website, newsletter, and social channels.
ABOUT CASPER
Casper Network (CSPR) is a Layer 1 Proof-of-Stake blockchain engineered for regulated real-world assets and the machine economy.
With deterministic transaction finality, a multi-VM execution layer supporting both WebAssembly and soon EVM smart contracts, and fixed-cost operations enforced at the protocol level, Casper delivers the infrastructure for compliant asset tokenization, frictionless consumer experiences, and autonomous machine-to-machine commerce.
The Casper Manifest - the network's multi-year technical roadmap - advances nine coordinated protocol initiatives spanning developer access, user experience, institutional compliance, privacy, micropayments, and quantum safety.
The Casper Association, a non-profit organization based in Zug, Switzerland, oversees protocol development and ecosystem growth.
Connect on socials: https://x.com/Casper_Network • https://www.linkedin.com/company/casper-association
Learn more at https://casper.network.
ABOUT SARSON FUNDS
Sarson Funds stands at the forefront of blockchain and cryptocurrency education and marketing services, dedicated to the financial professional community and their clientele.
With a dedication to providing unbiased, comprehensive education on disruptive technologies, Sarson Funds partners with investment managers to bring Wall Street's rigorous research, risk management, and transparency standards to digital asset investing. The firm works alongside traditional financial advisors to determine the appropriate role of cryptocurrencies in diverse investment portfolios.
DISCLOSURES
This release is for informational purposes only and does not constitute an offer to sell, a solicitation to buy, or a recommendation of any securities, tokens, products, or services. Statements herein may include forward-looking information subject to risks and uncertainties. Sarson Funds, Inc. is not providing investment, legal, tax, or accounting advice. Readers should consult their own advisors before making financial decisions. Cryptocurrency and digital asset investments are inherently risky and may result in the loss of capital.
Pendle, the yield tokenization protocol that lets traders split and trade future yield, has crossed $111M in total value locked on the Monad blockchain. That makes it the fifth-largest protocol on the chain, less than a month after launching there on June 19.
The growth engine behind the numbers is AUSD, the Agora Dollar stablecoin backed 1:1 by cash, US Treasury bills, and repos. AUSD supply on Monad has ballooned to roughly $115M, making it the second-largest stablecoin on the chain behind USDC.
From zero to $111M in under a month Pendle hit approximately $51M in TVL within its first 10 days on Monad, then more than doubled. Pendle currently runs at least three active markets on Monad, all built around AUSD and its yield-bearing cousin, earnAUSD. The maturities on these markets cluster around October 8, 2026, giving traders a defined window to speculate on or lock in yields.
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Pendle’s Monad deployment has processed over $52M in trading volume over the past 30 days.
Pendle works by taking yield-bearing assets and splitting them into two tokens. One represents the principal, the other represents the future yield. Traders can sell their future interest payments to someone else today, or buy someone else’s future yield at a discount.
The incentive machine behind the growth Pendle’s Monad expansion has been turbocharged by weekly liquidity incentives of up to $75,000 for AUSD liquidity on the platform, roughly $300K per month in direct subsidies flowing to liquidity providers.
Pendle’s recent integration with Aave v3 pulled in more than $75M in deposits within the first 24 hours.
Across all chains, Pendle’s ecosystem now holds more than $1.14B in total value locked. The Monad deployment, at $111M, represents roughly 10% of that total.
The PENDLE token itself trades around $1.64, giving it a market cap of approximately $281.55M.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Arbitrum-based perpetuals exchange Ostium has suspended trading after an $18.4 million exploit tied to a compromised off-chain oracle key, highlighting again how vulnerable trading venues can be when price infrastructure fails.
The attack did not appear to stem from a direct breach of Ostium’s smart contract code. Instead, the validated source material points to manipulation of price feed reports through a compromised oracle private key. That distinction matters because it shows the risk was not only in on-chain contracts, but in the off-chain infrastructure feeding data into the system.
Perpetuals exchanges depend on accurate prices. If the price feed can be manipulated, the entire trading venue becomes exposed.
Ostium’s response was to halt trading while investigating the incident.
TL;DR Ostium suspended trading after an $18.4 million exploit. The attack involved a compromised off-chain oracle private key. The incident highlights oracle key-management risk rather than a direct smart contract breach. https://x.com/OstiumLabs/status/1814981204853092352
Why Oracle Failures Are So Dangerous Perpetuals markets need reliable prices.
A trader’s collateral, liquidation level, profit and loss, funding exposure, and settlement value all depend on price data. If that data is wrong, the market can be exploited even if the core trading contracts behave exactly as designed.
That is why oracle infrastructure is one of DeFi’s most sensitive layers.
It sits between real-world or market data and on-chain execution. A protocol may have audited contracts, but if the data feeding those contracts can be manipulated, the system is still vulnerable.
In Ostium’s case, the issue appears to involve a compromised off-chain oracle key. That means the attacker was able to interfere with the trusted reporting path rather than simply finding a normal contract bug.
That kind of failure can be harder for users to understand because the problem is not always visible in the same way as a contract exploit.
The blockchain may record the transactions, but the weak point may be the infrastructure behind the data.
The Smart Contract Was Not The Only Risk The distinction between smart contract risk and oracle risk matters.
Crypto users often ask whether a protocol’s contracts are audited. That is important, but not sufficient. A trading protocol also depends on pricing systems, administrative keys, keeper networks, bridges, liquidation bots, front ends, and operational security.
Any one of those layers can become a weak point.
If an oracle private key is compromised, attackers may not need to break the smart contract. They can feed the contract bad information and profit from how the system reacts.
That is why DeFi security has to be broader than code review.
Protocols need key management, monitoring, alert systems, circuit breakers, fallback feeds, and clear emergency procedures. The faster a venue can detect abnormal prices and pause dangerous operations, the more damage it may prevent.
Ostium’s trading halt shows that emergency controls are still essential.
Arbitrum DeFi Faces Another Security Test Arbitrum remains one of the most active Ethereum layer-2 ecosystems for DeFi.
That activity brings liquidity, traders, and innovation, but it also attracts attackers. Perpetuals venues are especially attractive because they concentrate collateral and rely on real-time pricing.
An $18.4 million exploit is large enough to matter for the ecosystem, even if it does not threaten Arbitrum itself.
The incident should not be framed as an Arbitrum network failure. The issue is specific to Ostium’s oracle infrastructure. But for users, every exploit adds to the broader question of how safe layer-2 DeFi venues are in practice.
That question matters as more capital moves to faster and cheaper networks.
Layer-2 scaling lowers transaction costs, but it does not remove application-level risk. Users still need to evaluate each protocol’s design, security model, and operational controls.
What Comes Next For Ostium The immediate priority is investigation, containment, and user communication.
Ostium needs to explain what happened, which systems were affected, whether user balances are recoverable, how trading will restart, and what controls will change before reopening.
For traders, the most important question is whether the oracle system has been rebuilt or secured enough to prevent a repeat.
A trading venue can survive an exploit if the response is transparent and the fix is credible. It becomes much harder if users are left unclear about where the failure occurred or whether the same path remains exposed.
The broader market should also pay attention.
Oracle key risk is not unique to one exchange. Any protocol relying on off-chain signing, price feeds, or privileged reporting paths needs to think carefully about compromise scenarios.
The lesson is straightforward: DeFi systems are only as strong as the weakest trusted component.
Ostium’s contracts may not have been directly breached, but the market still suffered a major exploit. That is why oracle security remains one of the most important issues in on-chain trading.
This article is based on Ostium’s public statement and Arbiscan transaction data.
This article was written by the News Desk and edited by Samuel Rae.
The race among crypto platforms to offer U.S. stock trading is no longer about novelty. It is a structural pivot driven by a weakening crypto wealth effect and the search for assets with firmer fundamental ground. Yet behind the headlines, a critical divide is taking shape: are users buying tokenized price exposure, or do they hold actual shares with dividends, voting rights, and regulatory guardrails? In a conversation with BIT’s Head of Brokerage, Elio Cui laid out why this distinction matters and what it signals about the next era of crypto finance.
Why Exchanges Are Chasing U.S. Equities Cui identifies three forces pushing platforms toward stocks. First, the wealth effect that once supercharged crypto trading volumes has cooled. Liquidity is migrating, and platforms need new magnets to retain user capital. Second, high-conviction U.S. equities—particularly AI and commercial-space names—offer narratives anchored in productivity gains, not just speculation. For a generation of traders accustomed to chasing themes, those stocks are a natural next frontier. Third, the old model of growing through high-turnover crypto trading alone no longer delivers the same upside. Brokers and asset managers are being forced to rethink how they provide asset access, shifting from a purely crypto menu to a multi-asset one.
The shift is also a defensive move. When users can allocate to Nvidia or SpaceX-linked names through a familiar interface without leaving the crypto ecosystem, platforms become sticky. The question is not whether to offer stocks, but how.
Tokenized Exposure vs. Direct Ownership Many exchanges first reached into equities through tokenized stocks, CFDs, or synthetic products. These instruments replicate price action without requiring actual settlement or custody of the underlying securities. For platforms, they fit neatly into existing trading engines and revenue structures built on order books and market making. But as Cui argues, the model has a hard ceiling. Liquidity is shallow, pricing can drift from the reference market, and users end up holding a derivative claim rather than a real asset. If the issuer runs into trouble, the investor may be left with a contractual claim, not a legally segregated security.
BIT chose a heavier path when it launched U.S. stock trading in February: direct brokerage access with real holdings. That means trades settle with a U.S. clearing broker, dividends flow to the client, and assets sit inside a regulatory framework that separates client property from the platform’s balance sheet. The approach is slower to build—it requires licenses, broker-dealer relationships, KYC/AML pipes, and tax infrastructure—but it delivers what the tokenized model cannot: ownership, not just a price ticker. Even as the broader tokenized real-world asset (RWA) market has surpassed $20 billion on-chain, tokenized equities remain a niche precisely because investors are unwilling to accept imperfect pricing and unclear asset rights.
Behind the user-facing simplicity of buying a U.S. stock with stablecoins sits a complex compliance stack. BIT routes through a licensed entity in Bhutan that connects to a U.S. broker-dealer responsible for execution, clearing, and custody. An omnibus account structure keeps client information inside the licensed entity while trade execution, asset segregation, and settlement occur within the U.S. regulatory perimeter. Most client cash exposure and securities ultimately reside inside the U.S. clearing system, Cui explained, not on the platform’s own books.
The arrangement also involves a fiat-stablecoin conversion layer that incurs a cost—between 0.06% and 0.2%—charged by the licensed OTC provider. While modest, it is a reminder that bridging crypto and TradFi carries real operational friction. The infrastructure investment is significant enough that smaller platforms struggle to build it, while larger exchanges may be reluctant to cannibalize a trading model that already works for them. The compliance push unfolds as U.S. lawmakers and banking interests remain locked in a tug-of-war over a landmark crypto bill that faced last-minute opposition just before a Senate vote, underscoring the uncertain regulatory backdrop for any platform operating across jurisdictions.
The Investor Mindset and What Comes After the Bubble Cui’s observations point to a broader psychological shift among crypto natives. Traditional equity investors tend to value assets through cash flows, growth trajectories, and governance—a longer-horizon lens. Crypto users, by contrast, have been conditioned to chase narratives, monitor charts, and deploy leverage for amplified returns. Since launching the U.S. equities business, BIT has recorded almost no net outflows, a sign that capital is not just dipping in but staying. The move is not merely a product addition; it reflects what Cui describes as an industry gradually adopting value-investing logic as the easy growth of previous cycles fades.
BIT’s own rebranding in 2026—from Matrixport to BIT—mirrors this transition. The platform that began life as a crypto asset manager now positions itself as a global financial services bridge, connecting on-chain stablecoins with off-chain regulated broker-dealers. It is a signal that the boundary between crypto and traditional finance is blurring not just in rhetoric, but in infrastructure. For investors who have ridden multiple boom-and-bust cycles, the practical takeaway is unvarnished: holding a concentrated position in a core asset over time often outperforms the emotional cost of constant trading, even if it lacks the adrenaline of a 10x rally.
AUTHOR
With over five years of experience in crypto, blockchain, and tech content, Ishtiyaq makes complex topics easy to understand. He simplifies blockchain and digital currency concepts for a wide audience, ensuring that beginners and experts alike can grasp key ideas. His clear and engaging writing helps readers stay informed about the latest trends, developments, and innovations in the crypto space. Whether explaining blockchain technology, digital assets, or DeFi, Ishtiyaq breaks down complicated ideas into simple, digestible content. His goal is to help people navigate the fast-changing world of cryptocurrency with confidence, clarity, and a deeper understanding.
21 July 2026 | 20:11 Robinhood Chain has become one of the fastest-growing networks in crypto, and Arbitrum is positioned to be a direct beneficiary.
Key Takeaways Robinhood Chain reached roughly 10 million daily transactions within three weeks of its July 1 mainnet launch. The chain routes 10% of protocol net revenue to the Arbitrum ecosystem: 8% to the DAO treasury, 2% to the Developer Guild. A 90-day gas subsidy is driving activity, keeping current fee revenue minimal until it expires in late September. Early volume is dominated by memecoins and DeFi rather than the tokenized stocks the chain was built for. The Layer 2, built on Arbitrum’s technology stack, reached roughly 10 million daily transactions less than three weeks after its public mainnet opened, and it contributes a share of its revenue back to the Arbitrum ecosystem.
The mechanism is real. The current dollar amounts are not yet meaningful. Understanding both is what separates this story from the version circulating on social media.
A 10 Million-Transaction Chain, With an Asterisk The clearest picture comes from Token Terminal, which wrote on X that “daily transactions on Robinhood Chain reach ~10m, while average block times fall to ~100ms,” calling the result a consumer-grade user experience onchain. The firm’s chart shows the ramp was not a single spike: daily counts climbed through early July and have held between roughly 7 million and 11 million since July 8, with several sessions above 10 million, while average block times collapsed from about 3 seconds at launch to a flat line near 100 milliseconds. Counting methods vary by tracker but every source points the same direction, and Token Terminal’s earlier comparison, cited by CoinDesk, showed the chain overtaking Coinbase’s Base in daily transactions within two weeks of launch.
Robinhood Chain daily transactions and block times. Two caveats keep that figure honest. First, Robinhood is covering all user gas fees for the chain’s first 90 days, which brings the cost of transacting to near zero and inflates activity that might not persist once users pay their own way from late September. Second, the composition is not what the chain was built for: DefiLlama data as of mid July shows memecoins and stablecoins dominating a network holding only about $12.8 million in tokenized real-world assets, against total value locked in the hundreds of millions. The pattern echoes Base’s 2023 launch, where speculation arrived first and durable applications later.
Ten million transactions is also not ten million users. Automated contract interactions, swaps and application-generated activity can all produce multiple transactions per participant. The milestone is evidence of technical capacity, not equivalent adoption. For how tokenized stocks and funds actually work as products, see our guide to RWA tokenization platforms.
How Robinhood Activity Becomes Arbitrum Revenue The economic relationship needs a clarification that most coverage skips. Robinhood Chain does not transfer 10% of every transaction’s value to Arbitrum. Under the Arbitrum Expansion Program, it contributes 10% of the protocol net revenue generated by the chain: 8% to the ArbitrumDAO treasury and 2% to the Arbitrum Developer Guild, routed through the program’s fee infrastructure and incorporated into the DAO’s financial reporting, according to the official ArbitrumDAO factsheet.
The connection to ARB is indirect but real. ARB holders vote on how the DAO treasury is used, including ecosystem funding and treasury allocation. The arrangement includes no automatic ARB buyback and no direct distribution to token holders; it adds revenue to a treasury governed through ARB-based voting.
Why the Numbers Are Still Small Here is where the thesis meets the ledger. During the subsidy period, the chain’s daily protocol fees have run at approximately $4,000, and FalconX estimated in April that Robinhood Chain could generate about $1.1 million in fees over six months. Ten percent of net revenue on figures that size is not a treasury-moving number for a DAO of Arbitrum’s scale.
The revenue thesis is therefore a forward-looking one. It depends on activity surviving beyond the subsidy, on fee-paying usage replacing subsidized speculation, and on tokenized securities and payments growing into the volumes that speculative trading currently occupies. If those conditions hold, the recurring flow to Arbitrum grows with them. If activity collapses in October, the 10% share applies to very little.
The Real Boost: A Blueprint for More Chains The larger value to Arbitrum may not be this chain’s fees at all, but what its launch demonstrates. Robinhood opened the mainnet on July 1, 2026 after a February public testnet that, according to the Arbitrum Foundation, processed more than 200 million transactions before production. The company first launched its Stock Tokens on Arbitrum One in 2025, validated the product on shared infrastructure, then migrated to a dedicated chain, the “launch-and-migrate” model described in Arbitrum’s announcement.
Technically, the chain runs first-come, first-served sequencing with roughly 100-millisecond preconfirmations, settles to Ethereum using blob data availability per the official documentation, and is fully EVM-compatible: it uses ETH for gas, supports standard Ethereum wallets, and assets move in over standard infrastructure of the kind covered in our guide to the Arbitrum Bridge and its alternatives. It is also permissionless, meaning external developers deploy without Robinhood’s approval, per Robinhood’s support documentation. The 100-millisecond figure describes ordering and preconfirmation speed, not final Ethereum settlement.
For Arbitrum, a household-name brokerage proving that model at this scale is a sales document for every other institution weighing its own chain. Each additional Expansion Program chain adds another revenue stream to the same treasury. That compounding pipeline, more than this quarter’s fees, is the realistic version of the “Robinhood boosts Arbitrum” story.
The competitive stakes are visible elsewhere: as our analysis of Solana’s second quarter showed, roughly 97% of tokenized-equity trading currently runs through Solana. Robinhood Chain is the most credible attempt yet to pull that market onto Ethereum-aligned rails.
Confirming the Thesis Transaction counts and active addresses in October, after the subsidy expires; sustained seven-figure daily activity on paid fees would convert the launch spike into a business. The share of activity coming from tokenized securities, visible in the chain’s TVL composition. The actual revenue contributions appearing in ArbitrumDAO’s financial reporting, which will put a public dollar figure on what the 10% share is worth. Until then, Robinhood Chain has proven the technology scales and the revenue pipe exists. Whether meaningful money flows through it is a question the coming months will answer.
Source: Based on Robinhood and Arbitrum official documentation and announcements, the ArbitrumDAO factsheet, and network data from Token Terminal and DefiLlama, checked July 21, 2026.
This article is provided for informational purposes only and does not constitute financial or investment advice.
Author
Kosta has reported on cryptocurrency markets and blockchain infrastructure since 2020, bringing over six years of hands-on experience in the crypto industry built through daily tracking of markets, trends, and emerging blockchain developments. Specializing in Bitcoin on-chain analysis, institutional ETF flows, and digital asset price action, his work at Coindoo has been cited by other news agencies and consistently covers market developments with a focus on data-driven reporting across Bitcoin, Ethereum, Solana, and XRP. Over the years, Kosta has contributed to multiple crypto media outlets in different regions, authoring over 6,000 articles across the sector. His reporting spans cryptocurrency markets and the broader fintech industry, tracking not only price action but also the technological and regulatory forces shaping the ecosystem. To support his analysis, Kosta actively leverages on-chain data and metrics from leading platforms such as Santiment, Glassnode, and CryptoQuant, enabling deeper, evidence-based market insights. He believes in the power of transparency and the data that underpins the blockchain ecosystem. His academic background in Marketing Management from Denmark further complements his analytical approach, adding a strong understanding of communication strategy and content positioning to his work.
Robinhood Chain isn’t wasting time trying to prove its relevance. Just three weeks after launch, the Ethereum-compatible Layer 2 has already accumulated around $700 million in onchain assets, signaling that Robinhood’s push to bring traditional finance onchain is gaining early traction.
Built on Arbitrum technology, Robinhood Chain is designed as a permissionless network that combines crypto, tokenized equities, ETFs, and other real-world assets within a single ecosystem. Rather than building another isolated blockchain, the project aims to move trading activity directly onchain while keeping the user experience closely integrated with Robinhood’s existing platform.
Stablecoins Dominate Early Capital InflowsThe largest share of capital has flowed into stable assets. According to Entropy Advisors dune dashboard, $433 million of the $700 million in onchain assets consists of stablecoins, highlighting that liquidity providers have become early participants in the network.
Meanwhile, roughly $500 million has already been deployed across DeFi protocols, suggesting users are actively putting capital to work instead of simply holding assets idle.
A significant portion of that liquidity approximately $204 million has been deposited into Morpho, earning an estimated 7% yield through Steakhouse Financial. Notably, Morpho is integrated directly into the Robinhood app, allowing users to access yield opportunities without separately using Robinhood Wallet.
Network Activity Continues Building MomentumBeyond capital inflows, network usage is also expanding. The dashboard shows 97 million cumulative successful transactions, excluding failed transactions, alongside 1.65 million cumulative active addresses.
Those figures suggest users are interacting consistently with the network rather than generating isolated bursts of activity.
At the same time, tokenized real-world assets (RWAs) on the network have reached $17.76 million, reinforcing Loading profile preview ‘s broader objective of bringing traditional financial assets onto blockchain infrastructure.
Robinhood Chain Pushes Its Onchain Strategy ForwardThree weeks isn’t enough time to judge the long-term success of any blockchain. Still, the early numbers indicate that Robinhood Chain has attracted meaningful liquidity, active users, and DeFi participation shortly after launch. If capital inflows, transaction activity, and tokenized asset adoption continue expanding together, the network could strengthen its position as Robinhood’s bridge between traditional finance and onchain markets.
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Arbitrum has been an important part of the Velvet ecosystem for years.
Most recently, when we launched Hyperliquid on Velvet, Arbitrum became one of the primary networks for depositing to and withdrawing from Hyperliquid, giving traders one of the fastest and lowest-cost ways to move capital into perpetual trading.
Today, we’re expanding that relationship even further.
Arbitrum spot trading is now live on VelvetX.
Join VelvetX
You can now discover, analyze, and trade Arbitrum-native tokens while continuing to use Arbitrum as a seamless gateway into Hyperliquid—all from a single terminal.
Arbitrum has become a preferred network for many Velvet users thanks to its fast transactions and low fees.
Whether funding a Hyperliquid account or moving capital across chains, Arbitrum has played an important role in the Velvet experience.
Now, we’re expanding beyond deposits and withdrawals.
You can trade Arbitrum-native tokens directly on VelvetX while continuing to use Arbitrum as a seamless gateway into Hyperliquid.
Whether you’re rotating capital into perps, swapping across chains, or discovering the next opportunity on Arbitrum, everything now happens in one place.
Arbitrum has established itself as one of Ethereum’s leading Layer 2 ecosystems.
With billions in TVL, a thriving DeFi landscape, and hundreds of applications, it has become one of the most active destinations for onchain traders.
From blue-chip DeFi protocols to newly launched tokens, Arbitrum continues to attract builders, liquidity, and users looking for lower fees and faster execution.
Now you can access the entire ecosystem directly through VelvetX.
Getting into Arbitrum shouldn’t require multiple bridges, wallets, and applications.
With VelvetX, you can cross-chain swap directly into Arbitrum using the assets you already own.
Move funds seamlessly from:
Solana
Base
BNB Chain
Ethereum
Robinhood Chain
And other supported networks
All within a single transaction.
No manually bridging assets.
No switching between multiple applications.
No unnecessary friction.
Simply swap into Arbitrum and start trading immediately.
VelvetX brings together the tools active traders rely on every day.
Discover new tokens before they trend.
Track smart wallets and top traders.
Monitor whale activity.
Follow emerging narratives.
See what’s gaining momentum across the ecosystem.
Execute trades in seconds.
Instead of jumping between explorers, trading interfaces, analytics dashboards, and social feeds, everything lives inside a single trading experience.
Every ecosystem generates an overwhelming amount of information.
Thousands of wallets.
Hundreds of new tokens.
Millions of transactions.
Velvet’s AI helps turn that information into actionable intelligence.
Analyze tokens.
Track wallet behavior.
Surface emerging narratives.
Monitor ecosystem activity.
Helping you spend less time searching and more time finding opportunities.
Arbitrum joins a rapidly growing list of ecosystems available on VelvetX.
Trade seamlessly across:
Solana
Base
Ethereum
BNB Chain
Hyperliquid
Robinhood Chain
Arbitrum
And move between them in just a few clicks.
One interface.
One portfolio.
One workflow.
Whether you’re trading spot, rotating capital across ecosystems, or funding your Hyperliquid account, VelvetX gives you a unified experience across every major chain.
The future of onchain trading isn’t confined to a single blockchain.
The best opportunities will emerge across many ecosystems, and traders need tools that move as quickly as the market.
VelvetX is built for that future.
By combining AI-powered discovery, seamless cross-chain swaps, and support for every major ecosystem, VelvetX lets you focus on finding opportunities instead of navigating infrastructure.
Want to know who’s holding the most PEPE tokens? You can now just ask Claude. A new open-source integration connects Anthropic’s Claude AI with Arkham Intelligence’s API, letting users run on-chain analytics using natural language instead of wrestling with raw blockchain data.
The tool, maintained by a developer named Vyntral on GitHub, essentially teaches Claude how to talk to Arkham’s data layer. Instead of writing API calls and parsing JSON responses, users can type something like “analyze the top holders of PEPE token” and get structured intelligence back.
How the integration actually works The setup is straightforward, at least by developer standards. Users clone the repository into their local Claude skills directory, plug in their own Arkham API key, and start querying. The system supports over 10 blockchains, including Ethereum, Bitcoin, and Solana.
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This isn’t a formal partnership between Arkham and Anthropic. It’s a community-driven project. Users are responsible for their own API keys and local configurations. But Arkham has leaned into the concept, publishing official documentation and guides for AI agent implementations starting April 2026, with an update in July 2026.
The Arkham API itself comes with defined guardrails. Standard endpoints are rate-limited to 20 requests per second, while heavier queries are capped at 1 request per second.
Supported use cases include whale tracking, portfolio research for major entities like Wintermute and Jump Trading, trending token monitoring, and deep dives into wallet holdings.
Why memecoin analysis is the obvious first use case The practical examples in the repository lean heavily into this territory. Memecoin analysis is front and center. The tokens with the least fundamental value tend to be the ones where on-chain data matters most. When there’s no revenue model, no product roadmap, and no earnings call, wallet movements are the only signal worth tracking.
What this means for investors Running an Arkham API query previously required some technical fluency. You needed to understand endpoints, parameters, and data structures. The Claude integration strips away that barrier entirely.
There’s also a broader question about how platforms like Arkham position themselves going forward. The fact that Arkham has published guides specifically aimed at AI agent implementations suggests the company sees AI integration as a growth vector. Arkham’s native token, ARKM, operates in a governance context and isn’t directly tied to this AI integration, but increased platform usage driven by AI accessibility could influence the token’s narrative among holders.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
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Crypto companies already licensed under the European Union’s Markets in Crypto-Assets Regulation (MiCA) could still exit the market as compliance costs mount, according to Gate Europe’s CEO.
Giovanni Cunti told Cointelegraph’s Chain Reaction on Monday that stricter regulatory requirements have made it increasingly difficult for new entrants to compete and that some licensed firms could ultimately be unable to absorb the ongoing costs of operating under the framework.
“I think there are going to be quite a few more of the ones that acquire MiCA license that will not be capable to sustain the cost and the resources that are needed to carry on this business in the long term,” Cunti said.
MiCA is the EU’s regulatory framework for crypto assets. The bloc’s 18-month transition period ended on July 1, requiring crypto firms serving EU customers to operate under authorization or cease offering regulated services.
The deadline prompted several exchanges to restrict or withdraw services in parts of Europe while licensed firms began operating under the new regime. Binance, the world’s largest crypto exchange by trading volume, was not able to secure a MiCA license before the deadline.
Compliance costs reshape Europe’s crypto marketCunti also warned that MiCA’s stricter regulatory requirements could drive some crypto startups and projects outside Europe. While the framework has strengthened investor protections, he said it leaves less room for innovation than jurisdictions with lighter rules.
He said some projects may choose to launch in jurisdictions with less restrictive regulatory requirements instead of navigating the bloc’s compliance regime.
“We may need to be prepared that some projects, possibly some important projects, may be looking at other jurisdictions with different guidelines,” he said.
To be sure, the number of companies authorized under MiCA continues to grow, albeit at a slower pace.
On Friday, the European Securities and Markets Authority added 14 crypto-asset service providers (CASPs) to its register, bringing the total to 294 after adding 37 firms in ESMA’s first update following the July 1 transition deadline.
Cunti said the higher regulatory burden is reshaping Europe’s competitive landscape, but the shrunken market also presents an opportunity for those remaining crypto service providers.
“There was a market with thousands of operators, and now there is a market with only hundreds,” Cunti said.
“So definitely there is a big opportunity for all of us. There is an ongoing migration because customers do not want to lose access to this market,” he added.
Magazine: The British Virgin Islands are a top crypto hub no one ever talks about: Here’s why
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.
Crypto companies already licensed under the European Union’s Markets in Crypto-Assets Regulation (MiCA) could still exit the market as compliance costs mount, according to Gate Europe’s CEO.
Giovanni Cunti told Cointelegraph’s Chain Reaction on Monday that stricter regulatory requirements have made it increasingly difficult for new entrants to compete and that some licensed firms could ultimately be unable to absorb the ongoing costs of operating under the framework.
“I think there are going to be quite a few more of the ones that acquire MiCA license that will not be capable to sustain the cost and the resources that are needed to carry on this business in the long term,” Cunti said.
MiCA is the EU’s regulatory framework for crypto assets. The bloc’s 18-month transition period ended on July 1, requiring crypto firms serving EU customers to operate under authorization or cease offering regulated services.
The deadline prompted several exchanges to restrict or withdraw services in parts of Europe while licensed firms began operating under the new regime. Binance, the world’s largest crypto exchange by trading volume, was not able to secure a MiCA license before the deadline.
Compliance costs reshape Europe’s crypto marketCunti also warned that MiCA’s stricter regulatory requirements could drive some crypto startups and projects outside Europe. While the framework has strengthened investor protections, he said it leaves less room for innovation than jurisdictions with lighter rules.
He said some projects may choose to launch in jurisdictions with less restrictive regulatory requirements instead of navigating the bloc’s compliance regime.
“We may need to be prepared that some projects, possibly some important projects, may be looking at other jurisdictions with different guidelines,” he said.
To be sure, the number of companies authorized under MiCA continues to grow, albeit at a slower pace.
On Friday, the European Securities and Markets Authority added 14 crypto-asset service providers (CASPs) to its register, bringing the total to 294 after adding 37 firms in ESMA’s first update following the July 1 transition deadline.
Cunti said the higher regulatory burden is reshaping Europe’s competitive landscape, but the shrunken market also presents an opportunity for those remaining crypto service providers.
“There was a market with thousands of operators, and now there is a market with only hundreds,” Cunti said.
“So definitely there is a big opportunity for all of us. There is an ongoing migration because customers do not want to lose access to this market,” he added.
Magazine: The British Virgin Islands are a top crypto hub no one ever talks about: Here’s why
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.
With stablecoin supply above $300 billion and payment use reaching an estimated $390 billion in 2025, more than twice the previous year, competition increasingly centres on distribution, liquidity, reserve income, and access to payment networks.
Open USD has brought these commercial forces together through a consortium of more than 140 participants, including Visa, Mastercard, Stripe, Coinbase, and BlackRock. Participating companies will be able to distribute the asset through exchanges, wallets, merchant products, and payment services while receiving a share of reserve earnings.
The model places Open USD against established issuers and smaller competitors seeking partnerships with the same financial companies.
BeInCrypto spoke with Louisa Bai, Head of Stablecoins at Mysten Labs, Marc Boiron, CEO of Polygon Labs, and Kevin Cui, Executive Director and Chief Executive Officer of OSL Group, about stablecoin competition, regional use cases, currency demand, and blockchain settlement.
Open USD Links Distribution With Reserve Income Open USD gives participating companies a financial incentive to support adoption through their own products. Reserve earnings can be returned to consortium members, linking token distribution to commercial revenue.
“OUSD is primarily built to share stablecoin reserves across its partners, including Visa, Stripe, Coinbase, Mastercard, and leading blockchains such as Sui,” said Louisa Bai, Head of Stablecoins at Mysten Labs. “Its partner network and revenue-sharing model could increase competition in a market with deeply entrenched incumbents.”
USDT and USDC retain an advantage built through liquidity, trading pairs, exchange listings, and widespread use across crypto markets.
“Their moat comes from liquidity depth and years of exchange listings,” Bai said. “Mid-sized issuers face the greatest pressure because they lack the liquidity of USDT and USDC and the partner economics offered by OUSD.”
Open USD also depends on cooperation between companies with different commercial priorities. Decisions covering reserves, governance, supported networks, and distribution will require agreement across banks, payment companies, exchanges, and crypto firms.
Its progress will depend on whether shared reserve income produces sustained adoption across participating products.
Visa just announced the launch of the Visa Stablecoin Platform for financial institutions.
The new enterprise system initially supports Open USD and includes a Wallet-as-a-Service offering.
It is currently rolling out for beta testing with select clients. pic.twitter.com/OiKijT8n3l
— BeInCrypto (@beincrypto) July 16, 2026 Different Stablecoins Will Serve Different Products Stablecoin control will remain divided between issuers, payment companies, exchanges, applications, and blockchains.
Issuers manage reserves and redemption, while payment companies control merchant access and customer distribution. Exchanges provide liquidity, and blockchains determine transaction speed, fees, and settlement capacity.
“Different stablecoin assets aimed at different use cases will coexist, together with different forms of control,” Bai said.
PYUSD remains closely connected to PayPal and its consumer products, while Open USD may develop around business payments and merchant settlement. Exchange-backed coins can focus on trading, while bank-supported assets can serve treasury management and institutional transfers.
This division allows stablecoins to develop around specific commercial environments rather than a single dominant operating model.
Regional Demand Splits Between Dollar Access and Local Settlement Stablecoin adoption follows currency stability, remittance costs, regulation, and access to banking. Latin America currently provides some of the strongest examples of stablecoins functioning as everyday money across savings and cross-border payments, according to Marc Boiron, CEO of Polygon Labs.
“Latin America, and it’s not close,” Boiron said. “When a currency loses value overnight and sending money home costs 6% and takes three days, a digital dollar is a household decision.”
Boiron pointed to the Mexico-US and Brazil-US corridors as major sources of current volume. He described the Gulf as an early regulatory leader, Japan as a careful builder of bank-connected products, and the US as a market gaining more room for regulated issuance and payments.
Emerging markets such as Argentina, Brazil, and Pakistan use dollar stablecoins as protection from inflation and currency depreciation.
In Nigeria, Paga plans to use Sui-based stablecoin payments to support international transfers for freelancers and businesses paying overseas suppliers.
Local-currency coins serve a different economic need. Markets with trusted currencies and regulators seeking domestic settlement onchain have stronger incentives to develop assets denominated in yen, dirhams, euros, or other local units.
“A stablecoin inherits the reputation of the currency behind it,” Boiron said.
He expects dollar coins to lead in markets where people seek protection from inflation, while local-currency stablecoins can develop in places such as Japan and the Gulf, where domestic currencies retain public trust.
Business adoption depends on liquidity and reliable fiat conversion, while distribution and licensing determine how easily merchants and exchanges can support a new asset. Boiron said businesses need coins already present in the wallets and payment services they use, backed by issuers acceptable to banks and auditors.
“It comes down to liquidity, distribution, and whether there is a licensed issuer standing behind it,” he said.
Europe follows MiCA rules covering issuance, authorization, reserves, and distribution. Exchanges have restricted several assets, including USDT, while providers adjusted their offerings to European requirements.
The resulting market divides between dollar access in weaker-currency economies and local settlement in regions where domestic units retain trust.
MiCA regulation is now fully in effect across all 27 EU member states. 🇪🇺
The grace period for unauthorized crypto providers is over.
Now, a single license allows companies to operate continent-wide, setting the stage for a major structural shift. pic.twitter.com/6b0Kg4edjE
— BeInCrypto (@beincrypto) July 1, 2026 Dollar Stablecoins Will Retain Their Lead Dollar coins still dominate supply and liquidity, while local-currency assets are developing around domestic settlement and regional trade.
“Non-dollar stablecoins remain concentrated in foreign-exchange trading within DeFi,” Bai said. “Locally denominated assets such as JPYC will continue to develop, while USD is likely to remain dominant in the near term.”
Meanwhile, Cui expects local-currency stablecoins to grow alongside dollar coins as companies adopt them for domestic payments and regional trade.
“Local-currency stablecoins are developing a durable role alongside dollar coins by reducing FX exposure and allowing businesses operating in euros, reais, or yen to retain their own unit of account,” said Kevin Cui, Executive Director and Chief Executive Officer of OSL Group.
Local coins may gain adoption where companies earn and spend in the same currency, while dollar coins continue serving international settlement and savings demand.
Blockchains Provide the Settlement Base Blockchains determine how efficiently stablecoins move between users, companies, and financial applications.
Boiron offered a complementary view of the chain’s role, arguing blockchains create more value by supporting widely used assets across many products than by issuing coins tied to one ecosystem.
“The most valuable stablecoin is the one everyone else already accepts,” Boiron said.
Chains therefore compete through transaction performance, developer tools, and support for several major stablecoins.
“Sui’s role in stablecoin growth is settlement, with fast execution built for the transaction volumes mass adoption requires,” Bai said. “Stablecoins need fast finality, capacity for large user numbers, stable fees, and strong user experience.”
Sui introduced gasless stablecoin transfers in May 2026, allowing users to send supported assets without holding SUI separately for transaction fees. Confidential transfers entered public beta in June, allowing issuers to conceal balances and transaction values while preserving access for compliance and auditing.
Sui also recorded more than six million transactions per second during a July public experiment using programmable tunnels. These offchain payment and state channels process activity away from the main network before settling final results on Sui.
Such features can support payroll, merchant payments, treasury transfers, and institutional settlement.
Open USD shows how stablecoin competition is expanding beyond issuance. Reserve income, distribution partnerships, payment access, and blockchain performance will influence which assets gain adoption.
Dollar coins will retain their advantage in global markets, while local assets develop around domestic payments and regional commerce. The strongest providers will combine reliable reserves with liquidity, distribution, and efficient settlement.
HyroTrader, a crypto proprietary trading firm, has been named Best Prop Trading Firm at the CoinGape Web3 Innovation Awards 2026. The award, decided by an independent judging panel featuring representatives from Polygon Labs, Visa, Beldex, Shirplink, and Liminal Custody, recognizes the firm’s transparent, exchange-connected funding model for digital asset traders.
The CoinGape Web3 Innovation Awards honor organizations, products, and innovators shaping the future of Web3 across multiple categories. HyroTrader was selected for the prop trading category based on its direct exchange execution model, risk management framework, and consistent payout record.
HyroTrader provides funded accounts of up to $200,000 for trading USDT perpetual contracts across more than 700 cryptocurrencies. Unlike prop firms that rely on internal pricing systems, HyroTrader routes trading activity to real exchange environments through a secure API connection to Bybit, an approach the firm pioneered when it introduced direct exchange integration in 2023. Traders keep up to 90 percent of profits and withdraw earnings in USDT or USDC.
The firm currently serves a community of more than 35,000 members, has funded over 1,700 traders, and has paid out more than $5 million to funded traders since its founding in 2022.
“This award reflects the standard we set for ourselves from day one: real exchange execution, clear rules, and payouts traders can verify,” said Samuel Drnda, CEO of HyroTrader. “Recognition from a panel of this caliber confirms that transparency is not a marketing angle. It is the future of prop trading.”
Hyro Protocol: Bringing Prop Trading On-Chain The award arrives as HyroTrader prepares its next chapter. On July 8, the firm announced Hyro Protocol, an on-chain crypto prop trading protocol built on Solana that settles in USDC.
Hyro Protocol connects traders seeking capital with liquidity providers seeking exposure to verified trading strategies. At its core is the vault model: structured capital pools with smart-contract-enforced rules, transparent accounting, and on-chain performance records. Traders can prove themselves through Challenge Vaults or, if they hold an established track record, apply to manage LP capital directly through Direct Vaults. Every key protocol event, including vault creation, deposits, NAV updates, and payouts, is designed to be verifiable on-chain.
“Most prop firms still run on closed systems where rules can change mid-evaluation and payouts happen behind closed doors,” Drnda added. “Hyro Protocol replaces trust with verification. Traders own their track records, LPs can check every number on a block explorer, and capital scales with performance instead of one company’s balance sheet.”
Trade execution will continue on professional exchange infrastructure, while protocol state settles on-chain, preserving the liquidity and execution quality traders expect. HyroTrader will publish program IDs, audit reports, and explorer links as each protocol component goes live.
About HyroTrader HyroTrader is a crypto proprietary trading firm headquartered in Prague, Czech Republic. Founded in 2022, the company introduced the first direct exchange integration in crypto prop trading, enabling traders to operate on their own exchange accounts with funded capital of up to $200,000. HyroTrader has paid out more than $5 million to over 1,700 funded traders.
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The Grayscale firm applied for the listing of the Worldcoin ETF, which will be traded using the ticker GWLD, just after the coin hit its lowest value ever. This new trust will give American investors a chance to invest in the Worldcoin ETF during times when there is pressure for its unlock. The firm of Grayscale Investments has filed a Form S-1 registration statement with the United States Securities and Exchange Commission (SEC) to introduce another cryptocurrency exchange-traded fund to its family of funds. The proposed fund aims at getting listed on the Nasdaq exchange under the ticker GWLD and would give investors regulated access to the Worldcoin ETF. Grayscale formed this Delaware statutory trust on July 10.
The filing comes at a time when Worldcoin (WLD) is trading at its all-time low price level as opposed to times when the market has momentum. The token fell to its all-time low of $0.2279 on May 17, 2026, way below all the previously recorded high prices. After the announcement of the ETF application, the coin surged by more than 8%, along with a substantial increase in trade volume. Considering that U.S. citizens are not eligible for Worldcoin user grants, the ETF would allow American citizens to invest in WLD through the regulated product.
ETF Filing Highlights Tokenomics Issues The filing of Grayscale also highlights many structural issues that the investor should keep in mind before regulatory authorities approve the product. According to the filing, the top 100 wallet addresses hold about 90% of the circulating supply of Worldcoin tokens. Additionally, there will be continuous unlocking of tokens by insiders and developers. Thereby increasing the supply until 2028, which will continue to put selling pressure on the token.
The Worldcoin tokenized ecosystem also has some unique regulatory implications due to its use of biometrics through Orbs’ eye-scanning devices. Previously, there have been several administrative sanctions from different international jurisdictions relating to data collection and regulatory oversight.
Despite the delay in going public on the stock exchange, which will now not happen until late 2026, Grayscale has been continuously adding to its list of cryptocurrency investment products. It seems like Grayscale is trying to establish itself within the nascent ETF market before other institutions start demanding them. Though the SEC approval is still uncertain, the filing shows that Grayscale is planning to expand its regulated crypto investments.
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The registration statement, filed with the SEC on July 20, would create an exchange-traded product holding the WLD token.
Grayscale filed an S-1 registration statement with the U.S. Securities and Exchange Commission on July 20, 2026, to launch a spot Worldcoin ETF, according to the filing's EDGAR record.
The filer entity, Grayscale Worldcoin ETF, is registered under file number 333-297570 and accession number 0001193125-26-308957. The filing fee exhibit lists the offering as "Exchange-Traded Vehicle Securities" under the name "Grayscale Worldcoin ETF Shares."
The product would hold WLD, the token of the Worldcoin project, which operates the World Network identity system built around iris-scanning "orb" devices. WLD traded, up 4,5% over the 24 hours to a circulating market capitalization of about $1.35 billion. Over the same window Bitcoin was up 2.6%.
The S-1 is an early step in the ETF approval process and does not guarantee the fund will begin trading. The registration statement must become effective and the listing exchange must clear its own rule-change process before shares can be offered.
The Worldcoin filing extends Grayscale's push to register single-asset ETFs tied to altcoins. The firm, headquartered at 290 Harbor Drive in Stamford, Connecticut, has previously filed for products covering Solana and Zcash, among others.
Grayscale has not published a fee, ticker, or listing venue for the Worldcoin product in the initial S-1 fee table, which shows a $0.00 registration fee at this stage.
