Track market-moving stories before they get noisy

Mochi founder Azeem Ahmed sold 550K CVX from a Curve-linked stash as on-chain probes allege over $8M in diverted rewards and $54M in DeFi losses.

Summary

Mochi Finance founder Azeem Ahmed sold about 550,285 CVX for roughly $946,000, pushing the token down more than 10%. The CVX stack traces back to a 2021 Curve pool drain that left liquidity providers with an estimated $54 million in losses. Ahmed now faces years of on-chain fraud allegations spanning at least four DeFi projects, with diverted rewards and liquidity drains topping $8 million. Azeem Ahmed, founder of Mochi Finance and GaiaDAO, has sold approximately 550,285 Convex Finance (CVX) tokens from wallets linked to a 2021 Curve Finance drain, netting around $946,000 and triggering a double‑digit intraday slide in CVX’s price. On March 19, the tokens were liquidated at an average price of about $1.72, sending CVX from roughly $1.88 to $1.68, a drop of more than 10% according to on-chain data reviewed by Crypto Daily. The proceeds were routed to a multisig associated with the Mochi protocol, which held about $864,858 in assets after the sale, while another 500,000 CVX remain locked on Convex Finance.

The CVX position itself originates from Mochi’s controversial November 2021 move to mint its USDM stablecoin against MOCHI and drain roughly $46 million in DAI-equivalent liquidity from the USDM/3CRV pool on Curve. At the time, Mochi used 10 billion MOCHI tokens—assigned a hard‑coded oracle price despite near‑zero market value—to mint 46 million USDM, convert the proceeds into 9,876 ETH, and purchase about 1,050,285 CVX, which were then locked on Convex Finance, according to certified crypto‑trace reports by forensics firm IFW Global. Curve’s Emergency DAO responded by killing Mochi’s gauge and blocking further emissions after characterizing the maneuver as a “clear governance attack,” a clash that became part of the broader “Curve Wars” over CVX and CRV voting power and emissions.

From “peg rebalancing” to diverted rewards In the aftermath, Ahmed re-emerged through GaiaDAO with a Peg Rebalancing Module (PBM) pitched as a mechanism to distribute CVX staking rewards from the locked position to USDM holders and gradually restore the stablecoin’s peg. The PBM charged a 2% management fee and 20% performance fee payable to Ahmed, but according to Curve governance forum records, he unilaterally hiked the performance fee to 50% before community backlash forced him to reverse the change. By November 2025, reward distributions from the 1,050,285 vlCVX position had stopped entirely, and on-chain data indicates those rewards were rerouted to a wallet that also acts as a signer on the CVX multisig, with the value of diverted staking rewards alone estimated at more than $1.6 million.

Beyond staking flows, investigators allege that about 2,198 ETH—worth roughly $6.67 million at the time—and $471,429 in USDC were drained from Mochi/ETH liquidity pools and never returned to depositors, while airdrops from protocols including Prisma, CNC, VELO, LFT, and YB reportedly remained unclaimed or undistributed. Aggregate investor losses tied to the Mochi ecosystem and its associated pools are now estimated at over $54 million, according to IFW Global’s certified reports.

A pattern of disputes and legal risk Ahmed’s track record stretches back to at least 2020 and spans Yieldfarming.insure (SAFE), Armor.fi, Mochi Finance, and GaiaDAO, with repeated accusations of misappropriating community funds. During the original Mochi‑Curve confrontation, Curve alleged that Mochi’s strategy amounted to a governance attack, while Ahmed insisted in an interview with Crypto Briefing that the team had simply taken a “bold approach to gaining voting power in the DAO” and argued that the “DeFi Cartel … feels threatened that a small player on the outskirts” could challenge incumbents. Robert Forster, Ahmed’s former co‑founder at Armor.fi, later accused him publicly of stealing “millions in LP tokens,” a charge Ahmed denied by claiming the funds were “returned in full” and counter‑alleging that Forster had taken money for personal use.

Legal pressure has also followed the on‑chain drama into courts. A prior lawsuit by an Armor.fi user in San Francisco Superior Court (Chen v. Ahmed, Case No. CGC‑21‑589609) ended in an out‑of‑court settlement after a temporary restraining order application, according to filings referenced in IFW Global’s reports. Attorneys now point to potential U.S. claims spanning securities fraud under Section 10(b), racketeering (RICO), common‑law fraud, conversion, and unjust enrichment, and affected investors have been directed to file complaints with the Securities and Exchange Commission, Commodity Futures Trading Commission, and the FBI’s IC3 portal.

What Ahmed’s latest sale means for CVX and DeFi Ahmed’s March 19 liquidation is the most aggressive on-chain move from Mochi‑linked wallets since the 2021 Curve incident and is being read by many affected investors as confirmation that the locked CVX will be used for exit liquidity rather than restitution. With roughly 500,000 CVX still locked on Convex Finance and controlled via the same governance structure, any further sales could become major liquidity events for CVX and reignite questions over how DeFi protocols respond when governance power is acquired through exploits rather than open‑market buying. Ahmed, described in IFW documentation as a UK citizen, has not publicly responded to the latest allegations, and his social media profiles have been inactive for months.

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION.

THIS IS AN ANNOUNCEMENT FALLING UNDER RULE 2.4 OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE "CODE") AND DOES NOT CONSTITUTE A FIRM INTENTION TO MAKE AN OFFER UNDER RULE 2.7 OF THE CODE. THERE CAN BE NO CERTAINTY THAT ANY FIRM OFFER WILL BE MADE.

, /PRNewswire/ -- Prologis, Inc. ("Prologis") announces that on 16 June 2026 it sent a letter to the Board of SEGRO plc ("SEGRO") setting out the terms of an indicative all-share proposal, pursuant to which Prologis would acquire the entire issued and to be issued share capital of SEGRO (the "Combination").

On 23 June 2026, the Board of SEGRO unequivocally rejected the Combination proposal.

Under the terms of the Combination, SEGRO shareholders would receive for each SEGRO share:

0.084 new Prologis shares (the "Exchange Ratio")

Based on the Prologis share price of $145.3 and a GBP:USD exchange rate of 1.32 in each case at market close on 23 June 2026, being the last trading day prior to this announcement, the Combination implies a value of 925 pence for each SEGRO share and values SEGRO's entire issued and to be issued ordinary share capital at approximately £12.6 billion, representing:

a premium of 24.6 per cent to SEGRO's share price of 742 pence on 23 June 2026 (being the last trading day prior to this announcement); a premium of 26.7 per cent to the 1-month volume weighted average SEGRO share price of 730 pence as of 23 June 2026 (being the last trading day prior to this announcement); a premium of 31.4 per cent to the 3-month volume weighted average SEGRO share price of 704 pence as of 23 June 2026 (being the last trading day prior to this announcement); and a price equal to SEGRO's last reported EPRA NTA* per share of 925 pence as of 31 December 2025 Following completion of the Combination, SEGRO shareholders would hold approximately 10.5 per cent of Prologis' issued share capital.

Prologis believes that the Combination is a highly compelling opportunity for SEGRO shareholders. SEGRO shareholders would receive shares in the world's largest logistics REIT with a $140.9 billion market capitalisation, unlocking, on closing, significant upside to the current share price.

Furthermore, the Combination provides SEGRO shareholders with participation in a global platform with a track record of outperformance across key metrics and the successful integration of major corporate transactions with the delivery of synergies. Prologis believes these factors will provide SEGRO shareholders with accelerated growth compared to the growth available to them in a standalone SEGRO.

Prologis believes that its global platform, balance sheet strength and diversified capital base can unlock the significant embedded value of SEGRO's development and data center pipeline.

Prologis also believes the Combination would deliver significant benefits to its customers, employees and Prologis shareholders.

Clear Strategic Rationale and Value Creation

Prologis believes that the Combination has clear strategic rationale and provides SEGRO shareholders with a compelling value proposition:

Opportunity to Join Forces with the Global Leader in Logistics Real Estate  Combination with Prologis will provide SEGRO shareholders with diversification into global growth markets SEGRO and Prologis' European portfolios are highly complementary with an expected clear line of sight to scale benefits Resolves Structural Constraints Limiting SEGRO's Growth Potential SEGRO has traded at a persistent discount to its EPRA NTA per share with an average discount to EPRA NTA* of 19 per cent and 17 per cent over the last two years and three years, respectively Prologis has superior balance sheet strength with Net Debt / Enterprise Value of 22 per cent versus 37 per cent for SEGRO and Net Debt / Adjusted EBITDA of 4.8x versus 8.4x for SEGRO Prologis' access to public equity, debt and private capital will enable Prologis to unlock embedded opportunities for investment for which Prologis believes SEGRO is unable to unlock standalone due to structural constraints, including its balance sheet capacity and trading discount Accelerates Monetisation of SEGRO's Development, Power and Data Center Opportunities Prologis anticipates that its platform, balance sheet strength and significant access to capital can unlock the significant embedded value of SEGRO's development and data center pipeline in a way that SEGRO will not be able to do on a standalone basis Prologis has the scale, capital, and execution capabilities to fund and deliver SEGRO's pipeline Value Realisation at a Premium and Enhanced Growth for SEGRO Shareholders Significant share price premium while retaining an interest in a stronger combined entity Prologis has outperformed SEGRO on total shareholder return over both 3 and 5 years (37 per cent and 39 per cent, respectively) leading its peer group average and significantly exceeding SEGRO's total shareholder return (3 year: 19 per cent; 5 years: negative 20 per cent.) Prologis' Proven Stewardship of Shareholder Capital and Strong M&A Integration Track Record Prologis' history of achieving cost and revenue synergies underscores the strength of the platform and successful integration Consistent with this track record, shareholders of the enlarged group can anticipate significant synergies from the Combination Prologis urges SEGRO shareholders to encourage the SEGRO Board to engage with Prologis to allow a binding offer to be put to SEGRO shareholders for their consideration.

There can be no certainty that an offer for SEGRO will be made. A further announcement will be made as appropriate.

Important Code Notes

In accordance with Rule 2.6(a) of the Code, Prologis is required, by not later than 5:00 pm (London time) on 22 July 2026, to either announce a firm intention to make an offer for SEGRO in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer for SEGRO, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline may only be extended with the consent of the Takeover Panel in accordance with Rule 2.6(c) of the Code.

In accordance with Rule 2.5(a) of the Code, Prologis reserves the right to vary the form and/or mix of consideration as set out in this announcement and/or introduce other forms of consideration. Prologis reserves the right to make an offer for SEGRO at a lower value and/or on less favourable terms than those described in this announcement: (a) with the agreement or recommendation of the Board of SEGRO; (b) if a third party announces a possible or a firm intention to make an offer for SEGRO which, at that date, is of a value less than the value implied by the Combination; or (c) following the announcement by SEGRO of a Rule 9 waiver transaction pursuant to Appendix 1 of the Code or a reverse takeover (as defined in the Code). If after the date of this announcement SEGRO declares, makes or pays any dividend or distribution or other return of capital to its shareholders, Prologis reserves the right to make an equivalent reduction to terms of the Combination or an equalisation dividend to a common date.

*EPRA NTA is not calculated from a valuation of SEGRO's assets under Rule 29 of the Takeover Code. It is sourced from SEGRO's 31 December 2025 audited financial statements. At the relevant point, a valuation of SEGRO's assets will be published by SEGRO in accordance with Rule 29 of the Takeover Code.

Linklaters LLP is retained as legal adviser to Prologis.

Further information

N.M. Rothschild & Sons Limited ("Rothschild & Co"), which is authorised and regulated by the Financial Conduct Authority (the "FCA") in the United Kingdom and J.P. Morgan Securities LLC, together with its affiliate J.P. Morgan Securities plc (which conducts its UK investment banking business as J.P. Morgan Cazenove and which is authorised in the United Kingdom by the Prudential Regulation Authority ("PRA") and regulated in the United Kingdom by the PRA and the FCA) (together "J.P. Morgan"), and Eastdil Secured International Limited ("Eastdil Secured" or "ESI") which is authorised and regulated by the Financial Conduct Authority (the "FCA") in the United Kingdom are acting exclusively for Prologis and for no one else in connection with the subject matter of this announcement and will not be responsible to anyone other than Prologis for providing the protections afforded to their clients or for providing advice in connection with the subject matter of this announcement. This announcement is not intended to and does not constitute an offer to sell or the solicitation of an offer to subscribe for or buy or an invitation to purchase or subscribe for any securities or the solicitation of any vote in any jurisdiction.

The release, publication or distribution of this announcement in jurisdictions outside the United Kingdom may be restricted by law and therefore persons into whose possession this announcement comes should inform themselves about, and observe such restrictions. Any failure to comply with such restrictions may constitute a violation of the securities law of any such jurisdiction.

Disclosure requirements of the Code

Under Rule 8.3(a) of the Code, any person who is interested in 1% or more of any class of relevant securities of an offeree company or of any securities exchange offeror (being any offeror other than an offeror in respect of which it has been announced that its offer is, or is likely to be, solely in cash) must make an Opening Position Disclosure following the commencement of the offer period and, if later, following the announcement in which any securities exchange offeror is first identified. An Opening Position Disclosure must contain details of the person's interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any securities exchange offeror(s). An Opening Position Disclosure by a person to whom Rule 8.3(a) applies must be made by no later than 3.30 pm (London time) on the 10th business day following the commencement of the offer period and, if appropriate, by no later than 3.30 pm (London time) on the 10th business day following the announcement in which any securities exchange offeror is first identified. Relevant persons who deal in the relevant securities of the offeree company or of a securities exchange offeror prior to the deadline for making an Opening Position Disclosure must instead make a Dealing Disclosure.

Under Rule 8.3(b) of the Code, any person who is, or becomes, interested in 1% or more of any class of relevant securities of the offeree company or of any securities exchange offeror must make a Dealing Disclosure if the person deals in any relevant securities of the offeree company or of any securities exchange offeror. A Dealing Disclosure must contain details of the dealing concerned and of the person's interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any securities exchange offeror(s), save to the extent that these details have previously been disclosed under Rule 8. A Dealing Disclosure by a person to whom Rule 8.3(b) applies must be made by no later than 3.30 pm (London time) on the business day following the date of the relevant dealing.

If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire or control an interest in relevant securities of an offeree company or a securities exchange offeror, they will be deemed to be a single person for the purpose of Rule 8.3.

Opening Position Disclosures must also be made by the offeree company and by any offeror and Dealing Disclosures must also be made by the offeree company, by any offeror and by any persons acting in concert with any of them (see Rules 8.1, 8.2 and 8.4).

Details of the offeree and offeror companies in respect of whose relevant securities Opening Position Disclosures and Dealing Disclosures must be made can be found in the Disclosure Table on the Panel's website at www.thetakeoverpanel.org.uk, including details of the number of relevant securities in issue, when the offer period commenced and when any offeror was first identified. You should contact the Panel's Market Surveillance Unit on +44 (0)20 7638 0129 if you are in any doubt as to whether you are required to make an Opening Position Disclosure or a Dealing Disclosure.

Rule 2.4 information

In accordance with Rule 2.4(c)(iii) of the Code, Prologis confirms that it is not aware of any dealings in SEGRO shares that would require it to offer a minimum level, or a particular form, of consideration under Rule 6 or Rule 11 of the Code. However, it has not been practicable for Prologis to make enquiries of all persons acting in concert with it prior to the date of this announcement in order to confirm whether any details are required to be disclosed under Rule 2.4(c)(iii) of the Code. To the extent that any such details are identified following such enquiries, Prologis will make an announcement disclosing such details as soon as practicable, and in any event by no later than the time it is required to make its Opening Position Disclosure under Rule 8.1 of the Code.

Rule 2.9 information

In accordance with Rule 2.9 of the Code, Prologis confirms that, as of the date of this announcement, it has issued and outstanding 932,983,938 shares of common stock at par value of $0.01 per share. Prologis does not hold any of its common stock in treasury. The International Securities Identification Number (ISIN) of the shares of common stock is US74340W1036. The Legal Entity Identifier (LEI) for Prologis is 529900DFH19P073LZ636.

Publication on Website

In accordance with Rule 26.1 of the Code, a copy of this announcement will be available subject to certain restrictions relating to persons resident in restricted jurisdictions on Prologis' website at https://ir.prologis.com/ promptly and in any event by no later than 12 noon (London time) on 25 June 2026. The content of this website is not incorporated into and does not form part of this announcement.

Forward-Looking Statements

The statements in this announcement that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on current expectations, estimates and projections about the industry and markets in which Prologis and SEGRO operate as well as management's beliefs and assumptions. Such statements involve uncertainties that could significantly impact Prologis' or SEGRO's financial results. Words such as "expects," "anticipates," "intends," "believes," "would", "could", "should" and "estimates," including variations of such words and similar expressions, are intended to identify such forward-looking statements, which generally are not historical in nature. All statements that address operating performance, events or developments that Prologis expects or anticipates will occur in the future – including statements relating to any possible transaction between Prologis and SEGRO , rent and occupancy growth, acquisition and development activity, including data center developments and power procurement related thereto, contribution and disposition activity, general conditions in the geographic areas where Prologis and SEGRO operate, expectations regarding new lines of business, Prologis' and SEGRO's debt, capital structure and financial position, Prologis' ability to earn revenues from co-investment ventures or form new co-investment ventures and the availability of capital in existing or new co-investment ventures – are forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Although Prologis believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, Prologis can give no assurance that its expectations will be attained, and therefore actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. Some of the factors that may affect outcomes and results include, but are not limited to: (i) the ultimate outcome of any possible transaction between Prologis and SEGRO, including the possibility that SEGRO will reject any proposed transaction with Prologis; (ii) uncertainties as to whether SEGRO will cooperate with Prologis regarding any proposed transaction; (iii) the effect of the announcement of any proposed transaction on the ability of Prologis and SEGRO to operate their respective businesses and retain and hire key personnel and to maintain favourable business relationships; (iv) the timing of any proposed transaction; (v) the ability to satisfy closing conditions to the completion of any proposed transaction (including shareholder approvals); (vi) other risks related to the completion of any proposed transaction and actions related thereto; (vii) international, national, regional and local economic and political climates and conditions; (viii) changes in global financial markets, interest rates and foreign currency exchange rates; (ix) increased or unanticipated competition for Prologis' or SEGRO's properties; (x) risks associated with acquisitions, dispositions and development of properties, including the integration of the operations of significant real estate portfolios; (xi) maintenance of Real Estate Investment Trust ("REIT") status, tax structuring and changes in income tax laws and rates; (xii) availability of financing and capital, the levels of debt that Prologis and SEGRO maintain and their credit ratings; (xiii) risks related to Prologis' investments in and management of its co-investment ventures, including ability to establish new co-investment ventures; (xiv) risks of doing business internationally, including currency risks; (xv) environmental uncertainties, including risks of natural disasters; (xvi) risks related to global pandemics; and (xvii) those additional factors discussed under Part I, Item 1A. Risk Factors in Prologis' Annual Report on Form 10-K for the year ended December 31, 2025. Prologis undertakes no duty to update any forward-looking statements appearing in this announcement except as may be required by law.

Non-GAAP Measures

This announcement includes certain terms and non-GAAP financial measures that are not specifically defined herein. These terms and financial measures for Prologis are defined and, in the case of the non-GAAP financial measures, reconciled to the most directly comparable GAAP measures, in Prologis' quarterly Earnings Release and Supplemental Information that is available on Prologis' investor relations website at www.ir.prologis.com and on the SEC's website at www.sec.gov.

Sources of information and bases of calculation

Share price and volume weighted average share price data is derived from FactSet GBP:USD exchange rate of 1.3196 is derived from Chatham Financial as of 23 June 2026 The value attributed to SEGRO's issued share capital (and therefore the value of the Combination) is based upon fully diluted share capital of 1,361,127,593 SEGRO ordinary shares of 10 pence each, comprising: 1,353,927,858 ordinary shares in issue as of 29 May 2026 as announced by SEGRO pursuant to the FCA's Disclosure Guidance and Transparency Rules (with no shares held in treasury); and 7,199,735 shares relating to SEGRO's share schemes, derived from SEGRO's public filings. This figure is net of shares held by the SEGRO Employee Benefit Trust Prologis' issued share capital is based upon fully diluted share capital of 970,140,938 shares at par value of $0.01 per share, comprising: 932,983,938 shares of common stock at par value of $0.01 per share; and 37,157,000 shares relating to Prologis' share schemes, derived from Prologis' public filings. Discount to EPRA NTA is calculated as the see-through value of the offer at the Exchange Ratio divided by the SEGRO last reported EPRA NTA at 31 December 2025 of 925 pence per share Prologis' market capitalisation is calculated based on the share price at market close on 23 June 2026 of $145.3 multiplied by Prologis' fully diluted share count of 970,140,938 shares SEGRO's shareholding in the enlarged group is calculated as (i) newly issued Prologis shares of 114,334,718 (calculated as 1,361,127,593 SEGRO shares multiplied by the Exchange Ratio); divided by (ii) the enlarged group issued share capital of 1,084,475,656 (equal to the existing Prologis fully diluted issued share capital of 970,140,938 plus the newly issued shares of 114,334,718) Enterprise value used for Net Debt / Enterprise Value sourced from FactSet at market close on 23 June 2026 Total shareholder return equals the change in share price plus dividends received over the relevant time period. This data is as of 23 June 2026. Information sourced from FactSet SEGRO EPRA NTA sourced from SEGRO's 2025 Annual Report and Accounts, with prior years' EPRA NTA sourced from its 2024 and 2023 Annual Report and Accounts and its 2024 and 2023 interim results SEGRO Net Debt and Net Debt / Adjusted EBITDA sourced from 2025 annual results announcement released on 20 February 2026 Prologis financial information extracted from Prologis' 2026 Q1 Earnings Release published on 16 April 2026 Prologis Net Debt and Net Debt / Adjusted EBITDA sourced from Prologis' 2026 Q1 Earnings Release published on 16 April 2026 SOURCE Prologis, Inc.

Gnosis Pay

Jun 23, 2026

by Alexandru Popescu

MiniPay, Opera's self-custodial stablecoin wallet, has launched the MiniPay Card: a digital Visa debit card powered by Gnosis Pay. Eligible users can now spend their stablecoin balances across Europe (EEA), Africa, Latin America and Southeast Asia at more than 175 million Visa merchant locations worldwide. Gnosis Pay manages the card program behind it.

MiniPay already had the wallet, the users, and the balances. What its users did not have was a way to spend those balances at a normal checkout. Gnosis Pay closes that gap. We built the card program so a wallet can connect its stablecoin balances to Visa without becoming a card issuer, a bank, or a payments company itself.

The last meter problemIn a lot of markets, people already save and get paid in digital dollars. Holding stablecoins is solved. Spending them is the hard part.

A balance sitting in a wallet does not pay for groceries, a bus fare, or a subscription. To do that, the money has to reach a merchant through rails the merchant already accepts. For most of the world, that means Visa. Friederike Ernst, co-founder of Gnosis, puts it this way:

"For someone in Lagos or Nairobi who already holds savings in digital dollars, the missing piece isn't the wallet. It's the last meter. The ability to spend those balances at a checkout in another country without the merchant needing to know or care about crypto."

The last meter is the distance between a stablecoin balance and a card terminal. It is short, and it is where most stablecoin products stop. The MiniPay Card covers it.

What the MiniPay Card isThe MiniPay Card is a digital Visa debit card that lives inside the MiniPay wallet. Users add it to Apple Pay or Google Pay and spend with a tap, online or in person, anywhere Visa is accepted. The balance in the wallet is the balance on the card.

Behind the familiar card experience sits a stablecoin card program. When a user taps, their stablecoin balance is settled to Visa in real time, and the merchant is paid in their local currency. The merchant sees a normal Visa payment.

How Gnosis Pay powers itGnosis Pay is the card program manager for the MiniPay Card. That means we handle the technical layer that turns a wallet balance into a working card, and we coordinate the regulated parts of the stack rather than performing them ourselves.

Here is how the pieces fit:Issuing. The card is issued through Monavate's regulated card issuing, on Visa's global network. Gnosis Pay is the program manager around that.

Settlement. When the card is used, the stablecoin balance is bridged to Visa in real time. The merchant receives local currency with no crypto-specific setup.

Self-Custody. Funds stay in the user's self-custodial wallet until the moment of spending. MiniPay users keep control of their balances.

Onboarding. A wallet that already has users can pass its existing user base and verification into the program, rather than starting from zero.

This is the work that usually takes a wallet many months to assemble piece by piece: an issuer relationship, a Visa program, settlement, and the compliance coordination to run it across markets. Gnosis Pay packages it so a fintech, neobank or wallet can ship the card instead of building a card company.

Key takeaway: As the card program manager, Gnosis Pay connects a wallet's stablecoin balances to Visa in real time, so the merchant gets paid in local currency and never has to know crypto was involved.

Who it is forThe MiniPay Card launches into an existing base. Since 2023, MiniPay has grown to more than 16 million activated wallets, with strong adoption across Africa and other high-growth regions. The card is available to eligible users in selected markets across Europe (EEA), Africa, Latin America and Southeast Asia, anywhere Visa is accepted.

It also builds on what MiniPay already shipped. After introducing Virtual Bank Accounts, which let users receive money straight into their wallets as stablecoins, the card adds the other half: a way to spend those balances online and in person. Money in, money out, in one wallet.

Why this matters beyond MiniPayMiniPay is one wallet. The pattern is the point. Any wallet or fintech with users and stablecoin balances faces the same last meter, and the same choice: build a card company, or plug into a card program that already runs. Gnosis Pay is built for the second path. We did the same integration work for MiniPay that any partner would do, making this launch a template for future wallet integrations.

It also fits how Gnosis thinks about money. Stablecoins should work like money, which means they have to be spendable. A balance you can hold but not spend is a savings account with extra steps. A balance you can tap at any Visa terminal is closer to the thing money is supposed to be.

Tip: If you run a wallet or a fintech, the rails behind the MiniPay Card are the same ones you integrate with Gnosis Pay. The build starts in the docs.

Availability, fees, and rewardsThe MiniPay Card is launching to eligible users in selected markets. Find details on availability and product features at minipay.to/virtual-card.

Fees. No monthly or annual fee. Transactions carry a low nominal FX fee and ATM withdrawal fee.

Wallet integration. The card works with Apple Pay and Google Pay for contactless payments.

Rewards. In selected markets, the card offers cashback in digital assets, including Tether Gold (XAUt0), USDT and USDC.

This launch continues the path Gnosis Pay has been on, from remittances to retail: making stablecoin balances usable in the places people spend. It is also a working example of the ownership-first model we have been building toward, where users keep custody and still get the convenience of a card.

FAQWhat is the MiniPay Card?

The MiniPay Card is a digital Visa debit card inside Opera's MiniPay wallet. It lets eligible users spend their stablecoin balances at over 175 million Visa merchants, online or in person.

Where can you use the MiniPay Card?

It is available to eligible users in selected markets across Europe (EEA), Africa, Latin America and Southeast Asia, and it spends anywhere Visa is accepted.

Do you need crypto knowledge to use the MiniPay Card?

No. Users add the card to Apple Pay or Google Pay and tap to pay. It spends like any other contactless Visa card.

How is the MiniPay Card different from a regular debit card?

It spends from your own self-custodial stablecoin balance instead of a bank account. You keep custody of your funds until the moment you tap.

Do merchants need to accept crypto?

No. Merchants are paid in their local currency and see a normal Visa payment. They do not need to accept crypto or set anything up.

Build your card programThe last meter is closed for 16 million wallets. The next ones are the wallets and fintechs that have not shipped a card yet, and the rails are ready for them.

If you are building one, book a demo or learn more on gnosispay.com.

– Maximizes user accessibility through direct onboarding within LINE Messenger’s MINI App Tab
– Integrates BORA DEEPS to deliver a differentiated gameplay experience for Japanese users
– Strengthens on-chain rewards and BORA token utility, establishing a virtuous ecosystem cycle

METABORA GAMES (CEO Choi Se-hoon), a leading blockchain game developer, announced today the official launch of ‘Puzzle & Guardians’, its joint project with Baligames, as a MINI App on LINE Messenger in Japan through LINE NEXT Start, a group company of LY Corporation that operates Japanese Web3 business.

‘Puzzle & Guardians’ is a hybrid Web3 title that blends casual 3-match puzzle battles with RPG progression. Players can collect and build a roster of Guardians, engage in 1v1 PvP duels and dungeon play, and earn BORA token rewards by completing in-game missions and participating in event leagues.

With this launch, ‘Puzzle & Guardians’ is now onboarded onto the MINI App platform of LINE,  Japan’s largest messenger platform, enabling more than 100 million LINE users to play the game instantly inside the LINE Messenger app without any additional installation. The result is a more intuitive, highly accessible play environment.

In conjunction with the Japan launch, METABORA GAMES has integrated ‘Puzzle & Guardians’ with BORA DEEPS, the core infrastructure service of the BORA ecosystem. Through the BORA DEEPS Quest function, players are offered tailored missions optimized for gameplay, and the rewards they earn can be used across BORA DEEPS’ native content — including its ‘Mini Game’ offering and ‘Scratch’, a raffle-style service. The integration creates a natural virtuous cycle of play and reward, deepening user engagement across the platform.

The company also plans to continuously expand localized content tailored to the Japanese market, delivering a differentiated participation experience for local users. Launch commemoration events will follow, further reinforcing real-world utility for the BORA token.

More information about ‘Puzzle & Guardians’ is available on the official BORA DEEPS channels and the LINE platform. 

APPENDIX

BORA DEEPS website: https://intro.boradeeps.com/

‘Puzzle & Guardians’ LINE Mini App URL: https://miniapp.line.me/2008992531-yxrGfhQS 

METABORA GAMES is a subsidiary of METABORA, a casual and blockchain game developer, and serves as the development studio behind the blockchain platform BORA.

Centered on BORA DEEPS — a platform that organically connects in-game activities with rewards — METABORA GAMES designs user-participation-driven structures and collaborates with global partners to co-develop and operate Web3 projects across a wide range of genres.

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

BitDAO (BIT)suspected FTX founder Sam Bankman Fried's venture capital firm Alameda Research of breaching an agreement made in 2021 and selling its 100 million BIT tokens, causing BIT to plummet.

The DAO community asked Alameda to prove that it still owns its BIT tokens, and Alameda responded by transferring over 100 million BIT tokens from an FTX hot wallet to an Alameda address.

BackgroundAlameda published a proposal titled BIP-4 and offered BitDAO to swap 100 million BIT tokens with Alameda for 3,362.315 FTT tokens and make a public commitment not to sell each others' tokens for three years. The proposal was open for voting between Oct. 20 and Oct. 30 2021 and passed with 100% votes of the participants in favor.

The token swaps took place on Nov. 2, 2021, in three transactions, and both parties agreed not to sell them before Nov. 2, 2024.

Coins plummetOn Nov. 8, both BIT and FTT experienced a sharp 20% decline at around the same time. BIT fell from $0.40 to $0.33, while FTT plummeted from $22.12 to $15.36. Both tokens quickly recovered from a portion of their losses. At the time of writing, BIT is being traded for $0.39, while FTT is priced at $18.184.

BITUSDFTTUSDIn light of recent speculation about FTX's financial stability, the BitDAO community suspected that Alameda may have sold its BIT holdings and caused the sudden dump of both FTT and BIT.

BitDAO's founder and CEO Ben Zhou Tweeted to explain their suspicions and announced that they are asking for proof of funds from Alameda.

Bitdao community is questioning the sudden dump of $bit token caused by Alameda dumping and breaching the 3 yr mutual no sale public commitment. Nothing is confirmed but bitdao community would like to confirm a proof of fund from Alameda. https://t.co/YassKhcdPt

— Ben Zhou (@benbybit) November 8, 2022

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The BitDAO community ensured that the 3,362.315 FTT tokens were safe and sound in the BitDAO treasury, and asked Alameda to ensure BitDAO by transferring the 100 million BIT tokens into an on-chain address so that the BitDAO community can verify.

BitDAO community warned that if Alameda fails to provide sufficient proof of funds within 24 hours:

“It will be up to the BitDAO community to decide (vote, or any other emergency action) how to deal with the $FTT in the BitDAO Treasury.”

FTX respondsResponding to BitDAO's request, over 100 million BIT tokens were transferred from an FTX hot wallet to Alameda's address.

This address is the original address that Alameda agreed to receive its BIT tokens in when the deal was inked in 2021.

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Telos has integrated with several platforms across the crypto ecosystem as it looks to unlock cross-chain liquidity and decentralized finance opportunities.

The Telos Foundation announced the expansion via X, noting that Telos now leverages the technology and solutions of Stargate, BitGo, and Circle to enhance network security, accessibility, and liquidity.

Specifically, Telos is tapping into Stargate, a cross-chain liquidity protocol built on LayerZero, to enable multi-chain native asset transfers. This integration will allow users to bridge tokens between Telos and 30 other networks, opening new opportunities in a multi-chain decentralized finance ecosystem.

Other integrations include with Hydra, a part of Stargate v2 to bring assets such as wrapped Bitcoin (wBTC), USDC (USDC) and Tether (USDT) to Telos. 

“By bringing high-value, widely used tokens to Telos, Hydra enhances liquidity accessibility and fosters deeper DeFi engagement,” Telos Foundation wrote.

Telos’ wBTC and USDC integration is via BitGo and Circle, with the two companies among top ecosystem providers. Partnering with BitGo not only brings wBTC to Telos, but also ensures this happens with the support of a provider that can unlock liquidity for institutional access on the platform. 

Circle allows for a bridged version of its USDC stablecoin to go live on Telos, with this offering the option for native USDC to deploy on the Telos mainnet. 

According to DeFiLlama, the total value locked in DeFi protocols on Telos is currently around $16.6 million. The Telos TVL is spread across decentralized exchanges, lending protocols, real-world asset platforms and liquid staking providers among others.

Telos Foundation said in the announcement that the upgrades and integrations it has secured will be crucial to the Telos blockchain’s interoperability and footprint in DeFi. 

“The road is now open for massive liquidity to flow into the ecosystem, making Telos a prime destination for DeFi users and developers,” it noted.

Andre Cronje, the former CTO and board member of Sonic Labs, has resigned. Two other founding members of Sonic, Michael Kong and David Richardson, are also stepping down. 

The reshuffle lands while S sits about 91% below its January 2025 peak, reviving questions over whether it has bottomed. Matt Visser becomes the second chief executive in nine months.

Sonic (S) Token Price Performance. Source: BeInCryptoCronje and Co-founders Hand the Board to VisserSonic Labs framed the exits as an orderly handover. Kong, Cronje, and Richardson remain invested in Sonic’s success but will no longer make business decisions, per the team’s announcement. As of now, it’s unclear whether or not they will retain financial stakes in the organization.

The change caps a turbulent year in the C-suite. Sonic named Mitchell Demeter CEO last September to court institutional money, then lost him by February, leaving the founding board to run operations.

Cronje built much of decentralized finance (DeFi) and left those projects abruptly in 2022. He has lately turned to Flying Tulip, a new exchange he is raising money to build.

S Token Tests New Lows as Deposits FleeThe market reaction has been harsh. S recently traded around $0.029, down about 6% in 24 hours and roughly 37% over the past month. It has fallen close to 91% this year.

The slide has cut Sonic’s value to about $111 million, ranking it near 250th. The token sits just above the record low it set on June 6, far below its $1.03 high from January 2025.

The capital flight runs deeper than price. Sonic, which grew from Fantom’s rebrand to Sonic, once hit $1 billion TVL within months of launch.

Total value locked has since collapsed to about $18 million, DefiLlama shows. That is a drop of roughly 98% from a 2025 peak above $1.1 billion.

Sonic TVL. Source: DefiLlama “Woke up today to read about Andre Cronje resigning from Sonic Labs board. Checked CoinGecko and see that token is down 90% in last 1 year. Market cap $116m. So many projects are struggling so much this bear market. Tough year, but probably we haven’t bottomed yet unfortunately,” commented Bobby Ong, co-founder of CoinGecko.

Follow us on X to get the latest news as it happens

Sonic Promises a Reset as Critics Question TimingStill, not everyone accepted the framing. Critics argue that stepping back during a downturn erodes trust.

Worst possible timing.

You don't leave a project in this condition and call it leadership.

At this point, people are right to ask whether Sonic was just another stop before the next shiny opportunity.

This is a dangerous way to erode trust, and it rarely ends well.$S https://t.co/po2TfXQdko

— Nimesh (@NimeshOnchain) June 20, 2026 Sonic insists its survival does not hinge on the token. The team says it carries no venture capital, unlocks, and funds development from a diversified treasury, giving it runway regardless of price.

Management also points to steady output, claiming 400 pull requests merged this year, two releases shipped, and a private testnet running for version 2.2.0.

Visser set expectations modestly, not promising a quick rebound.

“I am not here to promise an instant turnaround. I am here to make Sonic 1% better every single day and let that compound. Show up, do the work, prove it in public, repeat,” read an excerpt in the announcement, citing Matt Visser, Sonic CEO.

Could that discipline help steady the S token?

Sonic (S) Falls 40% In A Month as RSI Flashes Fresh Sell SignalThe Sonic price has slid back toward the record low it set earlier this month. Momentum indicators have turned sharply negative.

S now sits below every major moving average, with sellers firmly in control. Buyers have shown little appetite to defend current levels.

Sonic Price Outlook. source: TradingViewMomentum points to week demand, with the Relative Strength Index (RSI) sitting at 32.50, just above oversold territory and beneath its 33.25 signal line.

The chart marks this crossover as a fresh sell signal, given that every time the RSI crossed below the signal line in the recent past, the price extended the fall.

The reading echoes the mixed signals from a recent volume surge. An RSI reclaim of 40 would hint that selling is cooling.

Now, the S price prediction hinges on a $0.028 floor, as the Sonic token’s value remains pinned beneath a descending trendline and the 20-day EMA at $0.033.

A daily close under the $0.028 support could trigger a retest of the $0.0277 record low, roughly 5% lower.

Reclaiming $0.033 would invalidate the bearish setup. Longer-term forecast models stay cautious.

The Fantom Opera shutdown on June 30 may add volatility as holders finish migrating.

Since launch, Sonic has become the home of the ecosystem – users, builders, liquidity, and validators have all made the move.

With that transition complete, Fantom Opera will be retired on June 30, 2026.

The Fantom Opera network will cease operation at 5:00 PM GMT on June 30,… pic.twitter.com/VrKRlO1FKU

— Sonic (@SonicLabs) April 7, 2026 A hold above $0.028 keeps a rebound alive, while a break below confirms the downtrend.

Osmosis has proposed converting OSMO to ATOM and tightening Cosmos Hub integration, testing whether chain mergers can boost liquidity, governance, and valuations.

Summary

Osmosis plan offers OSMO–ATOM conversion at a fixed rate over six months, with unclaimed ATOM returning to the Hub community pool. Proposal would bind Osmosis liquidity, security, and governance more tightly to Cosmos Hub, positioning ATOM as the primary base asset. The move sharpens Cosmos’ consolidation vs app‑chain sovereignty debate, putting OSMO and ATOM holders in control via governance votes. Interoperable DEX Osmosis has put forward a sweeping proposal to convert OSMO into ATOM and migrate its core protocol more tightly into the Cosmos Hub, in one of the most aggressive consolidation moves yet seen in the Cosmos ecosystem. The plan would effectively bind Osmosis’s liquidity, security, and governance more directly to the Hub, while offering OSMO holders a time‑limited path into ATOM exposure.​

Under the proposal, all circulating OSMO – excluding undeployed community pool tokens – could be converted to ATOM over a six‑month window at a fixed rate of 1.998 OSMO for 0.0355 ATOM. Holders who do not claim within that period would see the corresponding ATOM returned to the Cosmos Hub community pool, concentrating unclaimed value under Hub governance. The structure is explicitly designed to avoid permanent dangling liabilities, while forcing a clear decision from tokenholders on whether they want to align with the Hub or exit.​

Strategically, the proposal aims to turn Osmosis from a largely independent app‑chain into a native liquidity engine for Cosmos Hub, potentially simplifying the stack for users and institutional players who view Cosmos as fragmented. By consolidating liquidity and security at the Hub layer, proponents argue that Cosmos can present a cleaner narrative to external capital: one core base asset (ATOM), one primary liquidity venue (Osmosis on Hub), and unified governance. For Osmosis, the move could widen its addressable user base if ATOM’s brand and distribution outweigh the loss of a standalone token.

The trade‑offs are significant. OSMO holders face dilution of protocol‑specific upside in exchange for broader ATOM exposure and tighter alignment with the Hub’s long‑term roadmap. Cosmos Hub, on the other hand, would be implicitly underwriting Osmosis’s future, importing not only its liquidity and fees but also its technical and governance risk. Success would push Cosmos further toward a “hub and spokes” model with ATOM at the center; failure would strengthen the case for app‑chain sovereignty over consolidation.​

If passed, the proposal would mark a clear escalation in the ongoing debate over how Cosmos should compete with more monolithic ecosystems like Ethereum and Solana. It would also provide a live test of whether token conversions and protocol mergers can unlock higher valuations and deeper liquidity, or whether they simply shuffle risk and governance complexity from one balance sheet to another. For now, all eyes will be on how both OSMO and ATOM holders respond at the ballot box.

Hello Storj Community,

As you may have seen, Storj has agreed to be acquired by Inveniam, the global leader in decentralized AI technology for private markets. This marks an exciting new chapter for Storj as we continue to grow and expand our decentralized cloud storage and compute network.

This acquisition strengthens the foundation of our community. With Inveniam’s support, we’ll accelerate development, expand partnerships, and continue innovating while keeping STORJ an important part of our ecosystem.

While we’re excited about what’s ahead, we want to ensure we’re clear about what this means for you as a STORJ tokenholder right now:

No changes to STORJ’s utility: The token will continue to be the unit of exchange for storage and bandwidth on the Storj network.Node operator payments remain the same: You’ll continue earning STORJ for contributing storage and bandwidth. Trading and liquidity are unaffected: STORJ will remain listed on exchanges. Our mission remains largely unchanged: Storj’s focus on building the best distributed storage and compute platform remains steadfast. Partnering with Inveniam means gaining more support and resources to continue advancing our mission and vision. We deeply value your support as customers, partners, node operators, and tokenholders. Together, we’ve built the most secure and performant distributed storage network in the world, and this milestone ensures we can take it even further.

By joining forces with Inveniam, we expand our footprint and increase the financial resources to continue to grow and invest in the Storj ecosystem. We also become part of an organization that is a leader in complementary spaces, such as the tokenization of real-world assets. While more on our joint plans are forthcoming, part of the attraction for working with Inveniam was their interest in creating a distributed and decentralized marketplace for cloud computing resources generally, where blockchain plays a critical role.

For more details, please read our full announcement [link to corporate press release] and visit our blog post and FAQ.

Thank you for being part of Storj’s journey.

— The Storj Team

Ethereum gaming franchise Illuvium has undergone a company restructuring, resulting in layoffs along with some core contributors opting to take pay cuts or receive their wages in the gaming IP’s own token.

The downsizing comes after Illuvium released a trio of interconnected games last year—Overworld, Arena, and Zero—that covered varying genres. Despite its ambitious vision, the community's reaction wasn't overwhelmingly positive following years of development.

In December, co-founder Kieran Warwick admitted that "concerns" about the franchise's gameplay were valid and that things had to change. Part of this included that Illuvium had "significantly" reduced its costs via capping wages at $85,000, among other adjustments.

But this week, Warwick said that more substantial cuts had to be made.

"We made the difficult decision to restructure our core contributor team to bring our monthly burn rate closer to $500,000," Warwick said in a Tuesday statement. "We want to extend our sincere gratitude to everyone affected by these changes."

The statement on X (formerly Twitter) further explains that some employees have "generously offered" to take pay cuts, while others have chosen to receive their salary in the project's ILV token rather than the USDC stablecoin. It also alludes to letting employees go as part of a “leaner” approach, although never explicitly says this is the case.

In the replies, Illuvium Community Manager DickKingz, also known as Rich, explained that the team is now down to 66 core contributors—down from between 100 to 150 people as of late.

"The trim to 66 was unfortunately a lot of my teammates and friends, and [I] hate to see them go," Rich said. "Hopefully it’s only bye for now, and in the future when things improve, we can bring many back."

Illuvium did not immediately respond to Decrypt's request for comment.

As a result of the restructuring, as well as some other operating cost cutting measures, Illuvium has gotten closer to its "burn rate" goal of $500,000—it was at $900,000 as of December. This means that the Illuvium franchise now has a 24-month runway to continue development.

Previously, Warwick explained that Illuvium planned to seek fresh funding around March. But in the wake of the restructuring, he confirmed that the franchise isn't looking to raise "right now." 

He had also previously outlined a plan to move the franchise forward. The co-founder proposed focusing on one game at a time—rather than the three games it was developing—including reworking its Overworld to be a more streamlined version of a massively multiplayer online game, or MMO, and reducing in-game microtransactions. 

It appears that the 24 month-runway will get the project to the point of completing its auto-battler, starting the rework of Overworld, and attempting to keep the community engaged, according to the restructuring statement.

"This is step one in the rebuild. Now we have the runway, and it will continue to be extended," Warwick said on X. "Enormous updates are coming mid-next month: Auto drone runs, multiplayer servers, and leaderboards reactivated."

"28-3 down with two minutes to go in the third quarter," he added, comparing the project to a losing team in a football game. "We're about to run this shit back so hard."

Edited by Andrew Hayward

Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.

The US Securities and Exchange Commission released a comprehensive classification framework for tokenized securities on the same day Robinhood’s CEO publicly called for stock market tokenization.

Meanwhile, Terra’s Mirror Protocol—the first large-scale experiment in synthetic tokenized securities—ended with over $40 billion in investor losses and its founder’s guilty plea, underscoring the urgent need for regulatory clarity.

SEC Presents Tokenized Securities FrameworkOn January 28, the SEC’s Divisions of Corporation Finance, Investment Management, and Trading and Markets jointly issued a “Statement on Tokenized Securities.” The statement systematically classifies various structures of blockchain-recorded securities and specifies how existing federal securities laws apply to each type.

The SEC divided tokenized securities into two broad categories. The first is “issuer-sponsored tokenized securities,” where companies directly issue their own securities in token form. In this case, the blockchain functions as part of the master securityholder file. Token transfers constitute transfers of securities ownership.

The second is “third-party-sponsored tokenized securities,” where parties unaffiliated with the issuer tokenize existing securities. The SEC further subdivided this into custodial and synthetic models. Custodial models hold the underlying securities in custody, with tokens representing indirect ownership interests. Synthetic models provide only price exposure without conferring actual ownership rights.

Mirror Protocol: The Dark PrecedentThe first large-scale experiment in what the SEC now defines as “synthetic tokenized securities” was Mirror Protocol. Do Kwon launched it in December 2020. The platform, built on the Terra blockchain, purportedly enabled trading in synthetic versions of US-listed stocks like Apple and Tesla.

Do Kwon promoted the project as “granting intuitive access to global financial markets for disenfranchised users.” He claimed Mirror operated in a decentralized manner. Neither he nor Terraform played any role in its governance, he said.

The reality was starkly different. According to the US Attorney’s Office’s December 2025 sentencing statement, Do Kwon and Terraform “secretly maintained control over Mirror, and used automated trading bots to manipulate the prices of synthetic assets.” He also “caused Terraform to inflate key user metrics to deceive investors about the extent of Mirror’s adoption and decentralization.”

Mirror was part of a broader fraud scheme at Terraform. When UST and LUNA collapsed in May 2022, investors lost over $40 billion. Do Kwon was arrested in Montenegro in March 2023 while traveling on a fraudulent passport and was sentenced to 15 years in prison on December 11, 2025.

Robinhood Stock Tokens: A Different ApproachRobinhood already offers over 2,000 US stock tokens in Europe. The company describes them as “tokenized contracts that follow [stock] price” and “derivative contracts that do not grant rights to underlying securities”—fitting squarely into the SEC’s synthetic tokenized securities category, just like Mirror.

But the differences are substantial. Robinhood operates as a regulated financial institution, complying with MiFID II and transparently disclosing the derivative nature of its products. The company states that underlying assets are held by a US-licensed institution. Investors can start with as little as €1 and receive dividends when eligible.

Mirror, by contrast, disguised itself as a “decentralized community project” to evade regulation, while Do Kwon secretly controlled it. Its collateral was the algorithmic stablecoin UST, which ultimately collapsed.

Tenev’s Vision: From GameStop to TokenizationRobinhood CEO Vlad Tenev issued his statement on January 28—exactly five years after the GameStop buying halt that thrust his company into crisis. He identified the T+2 settlement system as the root cause, arguing that tokenization-enabled real-time settlement is the solution.

“T+1 is still far too long, particularly when you factor in that it really means T+3 on Fridays, or T+4 on long weekends,” Tenev wrote. Blockchain-based tokenization would eliminate settlement risk and enable customers to trade freely at any time.

Tenev announced plans to enable 24/7 trading and DeFi access within the coming months. Investors could self-custody their stock tokens and use them for lending and staking. If realized, this would shift Robinhood’s structure from synthetic to custodial. It could address the current risk: total capital loss if the company goes insolvent.

The Push for Regulatory ClarityTenev praised the current SEC leadership for supporting tokenization experiments and urged the passage of the CLARITY Act, which is under consideration in Congress. “Legislation would ensure that subsequent commissions cannot abandon or reverse the progress achieved by this SEC,” he wrote.

The SEC statement represents staff views without legal binding force, but the precedent of Mirror Protocol demonstrates what regulatory gaps can produce. Do Kwon built his fraudulent empire by claiming “decentralization” exempted him from securities laws—a claim the SEC’s new framework explicitly rejects.

For months, XRP holders have watched price action struggle to gain meaningful traction. Yet beneath the surface, two developments are quietly reshaping the conversation around the asset. The latest XRP news centers on Ripple securing preliminary MiCA approval in Europe and a notable shift in Binance transaction behavior that has persisted for an entire week.

Neither event guarantees a price reversal. Still, both point toward growing institutional relevance and changing user behavior at a time when market participants have been searching for reasons to turn constructive.

Ripple Gets Europe’s Regulatory Green LightRipple announced that it has received preliminary MiCA approval to offer regulated crypto payment services across Europe. The approval effectively moves the company closer to legally providing crypto and stablecoin-based payment infrastructure to banks and businesses throughout the European Union.

MiCA is widely viewed as one of the most comprehensive crypto regulatory frameworks globally. According to details shared around the announcement, regulators issued Ripple a “green light letter,” indicating the company has met major requirements while final conditions remain before a full license is granted.

For Ripple, the implications extend beyond compliance. The approval opens the door for broader adoption of its payment technology, including RLUSD, among institutions seeking regulated cross-border settlement solutions.

Institutions Could Finally Join The NetworkThe significance of the development lies in accessibility. European banks and businesses may eventually gain a compliant pathway to use Ripple’s infrastructure for international payments. In an industry often slowed by regulatory uncertainty, obtaining preliminary approval under MiCA provides an important credibility boost.

More importantly, it strengthens the long-term utility narrative surrounding the broader XRP ecosystem. While traders often focus on daily price fluctuations, infrastructure milestones tend to have a longer shelf life than short-lived market hype.

Binance Data Shows A Curious ShiftAt the same time, on-chain activity is telling an interesting story. According to CryptoQuant data shared by Amr Taha, XRP withdrawal transactions on Binance have dominated deposit transactions for seven consecutive days since June 17. On June 23, withdrawals accounted for 53.8% of transaction activity, the highest level recorded since June 2024.

Meanwhile, deposit transactions fell to 46.1%, marking their lowest reading since 2024. The result is a 7.7 percentage-point gap favoring withdrawals.

It’s important to note that this metric tracks the share of transactions rather than the dollar value of XRP being moved. Even so, the persistence of withdrawal dominance stands out because it reflects a sustained behavioral shift rather than a one-day anomaly.

Why XRP Holders Are Paying AttentionMarkets rarely move on a single catalyst. However, a combination of expanding regulatory legitimacy and consistent withdrawal activity is enough to keep investors watching closely.

The XRP price may not be reflecting that optimism yet, but the latest XRP news suggests that adoption and network behavior are moving in a direction many long-term participants would prefer. Whether that ultimately translates into a stronger trend remains the question traders will be monitoring in the weeks ahead.

Story Ends Here

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Scallop, a pioneering Next Generation peer-to-peer Money Market for the Sui ecosystem, has announced a significant milestone in its journey. The platform has secured a strategic partnership with DWF Labs, a leading new generation Web3 investor and one of the world’s largest high-frequency cryptocurrency trading entities. This collaboration signifies a major step forward for Scallop, as it aims to enhance its efforts in expanding DeFi adoption.

Enhanced Liquidity and Market Visibility As part of the partnership, DWF Labs will act as Scallop’s principal liquidity provider across various centralized exchanges and support over-the-counter (OTC) trading activities. 

The primary objective of this collaboration is to bolster the liquidity of the Scallop token on a global scale. Leveraging DWF Labs’ extensive expertise and network of relationships with trading platforms and exchanges, Scallop is poised to elevate its market visibility and expand its ecosystem significantly.

This strategic alliance not only strengthens Scallop’s position in the DeFi space but also extends its reach into the institutional market. By promoting adoption among institutional investors, Scallop aims to establish itself as a key player in the broader cryptocurrency landscape. The investment from DWF Labs will accelerate the execution of Scallop’s roadmap, enabling the team to fulfill its commitments to the community and explore new ventures.

About DWF Labs and Scallop DWF Labs, known as the new generation Web3 investor and market maker, is among the largest high-frequency cryptocurrency trading entities globally. The entity engages in spot and derivatives markets across over 60 top exchanges, bringing extensive experience and market insights to its partnership with Scallop.

Scallop, on the other hand, stands as the first DeFi protocol to receive an official grant from the Sui Foundation. Positioned as a Next Generation peer-to-peer Money Market for the Sui ecosystem, Scallop aims to revolutionize DeFi by providing innovative financial solutions and fostering broader adoption.

With the support of DWF Labs and its commitment to expanding DeFi accessibility, Scallop is poised to make significant strides in its mission to reshape the future of decentralized finance. As the partnership unfolds, investors and enthusiasts can expect to see exciting developments that contribute to the growth and sustainability of the Scallop ecosystem.

AUTHOR

Mysterious crypto writer with expertise in blockchain, offering deep insights that captivate and intrigue readers. With a unique ability to uncover hidden insights and trends, Samuel delivers in-depth analysis and thought-provoking content that keeps readers on the edge of their seats. His writing style is engaging and informative, blending technical knowledge with a sense of intrigue, making complex crypto topics accessible to both newcomers and seasoned industry professionals. Samuel’s work continues to capture the attention of the crypto community, solidifying his reputation as a trusted voice in the space.

[PRESS RELEASE – Singapore, Singapore, March 29th, 2025]

Scallop, a lending and borrowing protocol on the Sui blockchain, has recorded an impressive revenue of $79,920 over the past 24 hours, according to recent data from DeFiLlama. This achievement places Scallop second among all decentralized finance (DeFi) lending protocols, trailing only Aave, a well-established name in the sector. The milestone underscores Scallop’s growing prominence within the Sui ecosystem and the broader DeFi landscape.

The Sui Ecosystem: A Foundation for Innovation

Sui, a high-performance Layer 1 blockchain launched in May 2023, has quickly emerged as a hub for scalable and efficient DeFi applications. Designed with a unique object-centric data model and powered by the Move programming language, Sui offers low transaction fees, high throughput, and robust security. These attributes have fueled significant growth in its DeFi ecosystem, with Total Value Locked (TVL) surpassing $2 billion in early 2025, as reported by DeFiLlama. The blockchain’s ability to process transactions in parallel and achieve instant finality has attracted developers and users alike, positioning Sui as a competitive player alongside established networks like Ethereum and Solana.

The Sui Foundation, the organization driving the blockchain’s development, has played a pivotal role in nurturing innovative projects. Scallop stands out as the first DeFi protocol to receive an official grant from the Sui Foundation, a testament to its strategic importance within the ecosystem. This support, combined with backing from prominent industry players such as CMS Holdings, 6th Man Ventures (6MV), UOB Venture Management, and notable individuals like Dingaling, Pentoshi, and Virtual Beacon, has provided Scallop with a strong foundation for growth.

Scallop Protocol: Redefining Lending on Sui

Scallop Lend is a peer-to-peer money market protocol built on Sui, offering users a platform to lend and borrow digital assets with institutional-grade features. Since its token generation event (TGE) a year ago, Scallop has established itself as the top lending and borrowing protocol on Sui, boasting a TVL of approximately $130.27 million as of March 29, 2025. This figure reflects a notable 34% increase over the past seven days, highlighting sustained user confidence and adoption. The protocol’s total deposits and collateral currently stand at $187 million, with cumulative revenue reaching $3.94 million. The protocol’s total deposits and collaterals have now surpassed $200 million, a significant milestone that reinforces Scallop’s position as the leading money market on Sui.

Users can Supply and Borrow with Scallop here: https://app.scallop.io Scallop’s design emphasizes accessibility, security, and user experience. It separates lent assets from collateral to enhance resilience and employs a vote-escrow (ve) model to incentivize borrowing activity. Under this model, users who stake Scallop’s native token, $SCA, can access higher yield rewards. To date, the community has locked more than 27 million $SCA tokens—over 10% of the total supply—for an average duration of 3.72 years, signaling strong long-term commitment to the protocol.

In the past three days, Scallop has expanded its offerings by listing the Walrus token and partnering with Binance Wallet to host a yield-focused activity. These developments reflect Scallop’s ongoing efforts to diversify its ecosystem and enhance value for users.

A Competitive Force in DeFi Lending

Scallop’s recent 24-hour revenue of $79,920 positions it as a formidable contender in the DeFi lending space, trailing only Aave, a protocol with a long-standing presence on Ethereum and other chains. With a focus on scalability and innovation, Scallop leverages Sui’s technical advantages to deliver a seamless experience for lenders and borrowers. Its open-source framework has also enabled other projects within the Sui ecosystem to build on its infrastructure, further amplifying its impact.

As the Sui ecosystem continues to mature, Scallop’s performance suggests it is well-positioned to maintain its leadership in lending and borrowing. The protocol’s combination of strategic partnerships, community engagement, and robust metrics underscores its potential to shape the future of DeFi on Sui and beyond.

About Scallop

Scallop is the pioneering Next Generation peer-to-peer Money Market for the Sui ecosystem and is also the first DeFi protocol to receive an official grant from the Sui Foundation.

The protocol offers a range of financial services, including high-interest lending, low-fee borrowing, asset management, and automated market-making (AMM) tools, all on a single platform. Additionally, Scallop provides a software development kit (SDK) that enables professional traders to implement complex trades, including zero-interest loans easily. By emphasizing security and adhering to best practices, Scallop aims to reduce the risk of malicious behavior in the DeFi space, providing users with a trustworthy and reliable platform.

XYO surged over 65% to an intraday high of $0.025 on Jan. 29, as the crypto rebounded from a downtrend that had persisted since December.

According to data from crypto.news, XYO Network (XYO) rose by 40% over the past day after it announced XYO Layer One, with its price moving from $0.0157 to $0.0224 at the time of writing. During the same period, the asset’s market cap shot up 42% to $312 million while its trading volume spiked by a massive 1100%, hovering around $86.7 million.

On Jan. 28, XYO launched its own Layer-1 blockchain, XYO Layer One, which is set to serve as the backbone of its ecosystem. The blockchain, featuring multichain support, will reportedly facilitate applications across various sectors, including AI models, blockchain tools, real-world asset management, and DePIN.

Market commentators also observed that the altcoin has recently broken out of a falling wedge pattern, a bullish pattern, which positions the token for more gains ahead.

Further rumors around a potential collaboration with electric car manufacturer Tesla have also gained prominence within the community.

When these rumors first surfaced, XYO responded with a 125% surge in less than 24 hours in early December 2024.

Another factor that could help support XYO’s current rally is the narrative around it being a U.S.-based project. Recent reports claim Eric Trump has floated the idea of a 0% capital gains tax on U.S.-based cryptocurrency projects as a way to boost blockchain innovation. 

While Eric Trump isn’t a policymaker himself, his comments have been interpreted as a reflection of the Trump administration’s broader stance. The mere possibility of such a tax incentive has stirred speculation, particularly around projects like XYO, which could see increased interest from investors looking to capitalize on potential tax advantages.

XYO is currently 327% up over the past year, with a circulating supply of around $13.93 billion tokens.

What is XYO crypto? XYO is the governance and utility token of the decentralized physical infrastructure network project with the same name. It powers the XYO ecosystem by supporting consumer software, developer tools, and digital assets.

The network is designed to promote data sovereignty, rewarding users for contributing and maintaining accurate location-based information, with the XYO token serving as the foundation of this system.

May 6, 2025 – Zug, Switzerland

The Casper Association is proud to announce that Casper 2.0 went live on the mainnet on May 6, 2025, a major milestone that marks the network’s evolution into a platform purpose-built for RWAs (real-world assets). Casper 2.0 bridges crypto-native innovation with enterprise-grade infrastructure, advancing a vision where blockchain doesn’t exist in isolation but powers real economies and everyday applications – not just itself.

With this upgrade, Casper moves beyond siloed ecosystems, offering a developer- and business-friendly environment ready to support the next wave of tokenized assets, on-chain finance and real-world adoption.

Matt Schaffnit, CEO and board director of the Casper Association, said,

“Casper 2.0 is more than a milestone – it’s a launchpad for real-world blockchain adoption.

“With instant, deterministic finality, native upgradability and built-in access control, we’re enabling a new generation of applications that secure identity, ownership and value across industries.

“I’m especially excited by the growing momentum around real-world use cases now possible on Casper 2.0.”

The next wave of industry expansion depends on real-world utility with systems that secure ownership, support compliance and integrate with economies beyond Web 3.0.

Casper 2.0 delivers on that promise with foundational improvements that make it one of the most complete and adaptable blockchains for tokenizing, transacting and governing RWAs and processes on-chain.

Zug consensus A new deterministic consensus protocol, Zug brings instant finality to Casper, ensuring that ownership transitions for assets such as real estate, commodities and tokenized instruments are not only immediate and irreversible but also leave a clear, tamper–proof audit trail.

Natively secured upgradable smart contracts Real-world systems demand precise control, accountability and compliance. Casper 2.0 delivers.

With natively upgradable contracts, built-in multi-signature support and fine-grained permissions, developers can design workflows that are both auditable and compliant by default.

Every party in an asset transaction, from buyer and seller to broker, escrow agent and auditor, is restricted to only the specific functionality they’re authorized to access, mirroring the security and role-based access controls of traditional systems.

Developer accessibility Casper 2.0 meets builders where they are, empowering millions of software developers to build on-chain using familiar languages and modern design patterns, without the steep learning curves and constraints typical of Web 3.0 development.

Beyond its core innovations, Casper 2.0 introduces critical infrastructure enhancements, including support for multiple virtual machines, expanding the network’s capacity to support complex, real-world applications.

Casper 2.0 also unlocks a powerful set of capabilities that redefine and expand what developers can build and what users can expect on-chain.

Smart contracts can now integrate rewards and yield directly into their logic through natively secured liquid staking, leverage zero-knowledge hashing algorithms to enable privacy-preserving identity and compliance solutions and utilize a native token burning mechanism to implement new supply-control strategies.

Michael Steuer, CTO and president of the board of the Casper Association, said,

“Casper 2.0 is the result of a simple and powerful idea – that blockchain should support the same kinds of assets, rules and processes that exist in the real world.

“By design, Casper 2.0 enables real-world asset transactions to settle instantly, businesses to implement access controls that mirror reality and applications to seamlessly upgrade as regulations evolve.

“Casper 2.0 allows developers to focus on building applications – not engineering around limitations.”

Additionally, the Casper 2.0 upgrade underwent a rigorous, independent audit by Halborn Security, ensuring its codebase aligns with top-tier industry standards and reinforcing trust in its secure, enterprise-ready foundation.

More information on Casper 2.0, including documentation, development tools and an overview of the network’s new capabilities, is available at the website.

About Casper Network Casper Network (CSPR) is a decentralized, layer-one PoS (proof-of-stake) blockchain designed for the real-world economy.

It empowers people to openly benefit from who they are, what they do and what they own – across borders, businesses and communities, both within and beyond Web 3.0.

With instant finality, upgradeable smart contracts, enterprise-grade security and flexible permissioning, Casper’s infrastructure supports the secure tokenization, management and exchange of assets and sensitive data across both public and private environments.

The Casper Association, a non-profit organization based in Switzerland, promotes the decentralized development and adoption of the Casper protocol, network and ecosystem.

Learn more about Casper Network at the website.

Contact the Casper Association below.

Press and media usage information available here.

Contact Ronan Breen, marketing and communications for Casper Association

 

Zug, Switzerland, 8th October 2025, Chainwire

[PRESS RELEASE – Zug, Switzerland, October 8th, 2025]

The Casper Association, the nonprofit entity supporting the continued decentralization and growth of Casper Network, an enterprise-grade, proof-of-stake blockchain optimized for scalable and secure Web3 adoption, today announced that Casper Network has joined the ERC3643 Association. This move reinforces Casper Network’s leadership in building the next generation of compliant real-world asset (RWA) tokenization.

By aligning with ERC-3643, Casper Network strengthens its mission to provide enterprises, developers, and institutions with the infrastructure needed to issue, manage, and evolve tokenized assets in full compliance with global regulatory frameworks.

Created by Tokeny, ERC-3643 is the leading open-source framework for permissioned token issuance, recognized by regulators and trusted by financial institutions worldwide. Designed specifically to meet compliance requirements, ERC-3643 is a cornerstone standard for institutional adoption of blockchain-based securities and other regulated instruments.

Once fully implemented, Casper Network’s contributions to ERC-3643 adoption will include:

Driving Real World Use Case Adoption: Enabling issuers, developers, and regulators to launch ERC-3643-compliant assets directly on Casper Network. Regulatory-Ready Flexibility: Leveraging Casper Network’s upgradeable smart contracts to allow assets to adapt as compliance requirements evolve without disruptive migrations. Cross-Chain Readiness: Positioning ERC-3643 for future interoperability with Ethereum and other networks as Casper Network continues to expand its connectivity roadmap. “Casper Network is committed to enabling real-world commercial applications of blockchain. With ERC-3643, businesses can remain fully compliant with evolving regulations, while everyday users gain the assurance that tokenized assets are managed with the highest levels of security and transparency,” said Matt Schaffnit, CEO of the Casper Association.

“We are delighted to welcome the incredible Casper Association to the ERC3643 Association. As a non-EVM layer-1 with validator-driven governance and a strong commitment to compliance, Casper brings unique strengths to advancing ERC-3643 adoption. Its Swiss domicile and enterprise-grade design make it an ideal partner for building trust with regulators and institutions. Together, we will expand ERC-3643 into new ecosystems, promote interoperability across blockchains, and strengthen the foundation for a global, regulated market for tokenized assets. We are excited for exemplar projects such as Casper to strengthen our mission as we continue to break new barriers with global regulators,” said Dennis O’Connell, President of the ERC-3643 Association.

Why this matters

The integration of ERC-3643’s compliance architecture with Casper Network’s scalable design sets a new standard for tokenization. This collaboration provides institutions with the regulatory assurance, interoperability, and enterprise-grade capabilities needed to accelerate the adoption of tokenized financial instruments worldwide.

About ERC3643 Association

The ERC3643 Association is a non-profit organization regrouping industry leaders with a shared mission to advance the adoption of the ERC-3643 or “T-REX” standard and promote a secure, interoperable, and compliant tokenization framework. The association unites technical expertise and industry experience to drive innovation and foster a globally accessible infrastructure for tokenized assets. Learn more at www.erc3643.org.

About Casper Network & Casper Association

Casper Network (CSPR) is a decentralized, layer 1 Proof-of-Stake blockchain designed for the real-world economy. It empowers people to openly benefit from who they are, what they do, and what they own, across borders, businesses, and communities, both within and beyond Web3.

With instant finality, upgradeable smart contracts, enterprise-grade security, and flexible permissioning, Casper’s infrastructure supports the secure tokenization, management, and exchange of assets and sensitive data across both public and private environments.

The Casper Association, a non-profit organization based in Switzerland, promotes the decentralized development and adoption of the Casper protocol, network, and ecosystem.

XRP (CRYPTO: XRP) became the best-performing large-cap cryptocurrency Monday following the launch of Ripple Labs' USD-backed stablecoin RLUSD.

What happened: The payments-focused cryptocurrency rose 3.51% in the last 24 hours, outpacing the returns of Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH).

With the latest push, XRP's monthly gains zoomed to 138%, the biggest among cryptocurrencies in the top 10 by market capitalization.

The rally was likely powered by significant buying interest from whale investors. Noted cryptocurrency analyst Ali Martinez highlighted that whales purchased over 830 million XRP, worth over $2 billion at prevailing market prices.

See Also: If You Invested $1,000 In Bitcoin When The First Bitcoin ETF Was Filed, Here’s How Much You’d Have Today

The readings of moving averages supported the coin’s bullish potential. XRP's price was greater than nearly all of its exponential moving averages and simple moving averages, indicating that investors’ current expectations are higher than their average expectations over the past period.

However, the Moving Average Convergence Divergence indicator, which compares two exponential moving averages, flashed a ‘Sell' signal. 

The Bull Bear Power indicator, used for measuring the strength of buyers and sellers in the market, was ‘Neutral" as of this writing.

Moreover. XRP's Open Interest, a measure of its speculative interest, rose 5.26% in the last 24 hours and nearly 450% since Nov. 5, the presidential election day, data from Coinglass revealed.

About 75% of all Binance traders with an open interest were positioned long on the asset, signaling the expectation of further upsides.

Why It Matters: Optimism around XRP was tied to several factors, with the most notable being the launch of RLUSD from Ripple, a payments company that uses XRP for its operations.

Ripple President Monica Long said Monday that the release marked a new chapter for the XRP Ledger, the blockchain technology powering Ripple's operations.

Ripple planned to position RLUSD for a range of financial applications, including instant cross-border settlements, Treasury operations, and integration with decentralized finance protocols.

Furthermore, with SEC Chair Gary Gensler’s tenure coming to an end and being succeeded by cryptocurrency-friendly Paul Atkins, investors feel more confident about XRP.

Ripple has been locked in a nearly four-year-long legal battle with the SEC over the status of XRP, and any change in the agency’s top leadership is viewed with optimism.

Price Action:  At the time of writing, XRP was exchanging hands at $2.49, up 3.65% in the last 24 hours, according to data from Benzinga Pro.

Read Next: 

‘Most Crypto-Foward’ RIA Slams Bitcoin Forecasts From Michael Saylor, Others: ‘Disvalues It To Me’ Market News and Data brought to you by Benzinga APIs

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Crypto projects typically spend their energy shipping code and chasing liquidity. Injective is now adding a third priority: lobbying Washington.

The Injective Policy Institute, or IPI, officially launched on May 21 as a dedicated policy and research organization designed to engage directly with US regulators and lawmakers. Its mission is straightforward, if ambitious: build clear regulatory frameworks for onchain finance and position America as the global leader in digital asset innovation.

What the IPI actually does The institute’s scope covers four of the most consequential regulatory battlegrounds in crypto right now: decentralized finance, onchain derivatives, stablecoins, and tokenization.

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John Medel, who serves as Head of Public Policy at Injective, is leading the effort. Medel has already been active in federal policy discussions, including dialogues surrounding the Clarity Act of 2025.

The IPI isn’t starting from scratch, either. Injective’s previous policy engagement included a submission on July 1, 2025, addressing how DeFi protocols should be treated under the Exchange Act.

The institute has laid out four core principles guiding its work: clarity over ambiguity, access over exclusion, sovereignty over intermediation, and American leadership in digital finance.

Going forward, the IPI plans to host technical briefings and produce in-depth policy analyses aimed at lawmakers and regulators.

Why this matters right now For a Layer 1 blockchain like Injective, which is rooted in the United States and focused on financial applications, the stakes are existential. The wrong regulatory framework could make core products illegal. The right one could unlock a wave of institutional adoption.

What this means for investors Look, the crypto industry has a long history of promising regulatory engagement and delivering very little. The difference here is that Injective has a paper trail. The July 2025 DeFi submission under the Exchange Act shows that the project was already doing this work before formalizing it into an institute.

For the broader market, the IPI’s focus areas, particularly stablecoins and tokenization, are the two sectors most likely to see major regulatory action in the near term.

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

Injective has put its next major network overhaul up for a vote. The Vulcan mainnet upgrade proposal is now live on-chain, giving INJ stakers and validators the chance to weigh in on a package of technical improvements designed to make the blockchain faster, leaner, and more attractive for decentralized trading.

The upgrade is targeting block height ~164,394,000, which translates to an expected execution date around April 28, 2026.

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What the Vulcan upgrade actually changes The Vulcan proposal focuses on three specific areas: execution efficiency, on-chain module improvements, and INJ buyback mechanics. These buyback mechanisms are tied directly to network activity, meaning as more trading volume flows through Injective’s exchange infrastructure, more INJ gets pulled from circulation.

Building on the Volan foundation Vulcan builds directly on the work done during the Volan mainnet upgrade, which was approved as IIP-314 and went live in January 2024. Volan was notable for introducing the first native real-world asset module on Injective, giving developers tools to bring tokenized versions of traditional financial instruments on-chain. It also improved scalability and deepened Injective’s interoperability within the broader Cosmos ecosystem.

Historical context and market reactions Following the approval of a previous upgrade, the INJ token rallied to approximately $3.65 before experiencing a subsequent retracement. The enhanced staking options that have been emerging around INJ, including availability through platforms like Binance US, also factor into the broader demand picture.

What this means for investors The governance vote itself is the first checkpoint. The execution date around April 28 is the second checkpoint. The buyback mechanics refinement deserves particular attention from a tokenomics perspective: if the updated mechanics more efficiently convert network activity into INJ demand, it creates a tighter feedback loop between usage and token value.

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

Coinbase is going native with INJ. The exchange will support native INJ deposits and withdrawals using Injective’s MultiVM infrastructure, marking a significant step in the Layer 1 blockchain’s push to untether itself from Ethereum’s ERC-20 token standard.

The migration is scheduled to take place between July 20 and July 22, 2026. During that window, Coinbase will pause all INJ deposits and withdrawals while it converts users’ ERC-20 INJ tokens to the native INJ format at a 1:1 ratio, at no cost. Once complete, Coinbase will exclusively support the native version of INJ.

What MultiVM actually means for users Injective’s MultiVM Token Standard, or MTS, allows unified token balances across different execution environments, including EVM and WASM, without requiring users to bridge tokens between them.

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Injective detailed its MultiVM Token Standard on November 10, 2025. The standard is part of a broader architectural vision that supports multiple virtual machines, including EVM, WASM, and an announced SVM environment. For developers, this means they can build applications in their preferred execution environment without fragmenting liquidity or user experience across different chain formats.

Coinbase isn’t the first mover here Coinbase Custody actually began supporting native INJ back in December 2020, laying early groundwork for the broader retail migration happening now. And Kraken completed its own ERC-20 to native INJ conversion in 2025, making it one of the first major exchanges to fully embrace Injective’s native chain.

Injective itself is a Layer 1 blockchain purpose-built for decentralized finance. It offers low-latency transactions and native order books. The native INJ token powers governance, staking, and transaction fees within the ecosystem.

What this means for investors Native token support on Coinbase means deposits and withdrawals will settle directly on Injective’s chain rather than routing through Ethereum. Injective’s MultiVM approach accommodates EVM, WASM, and eventually SVM developers under one roof with unified liquidity.

For INJ holders on Coinbase, the immediate action item is straightforward: do nothing. The conversion happens automatically at a 1:1 ratio with no fees. Deposits and withdrawals will be unavailable for a couple of days during the migration window.

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

Perp Labs, the core development team behind Perpetual Protocol and Nekodex, has launched a new campaign aimed at rewarding $PERP users through its flagship DeFi app, Nekodex. Starting this week, users who hold or trade $PERP can earn daily rewards — no staking, farming, or lockups required. This marks the first major utility upgrade for $PERP in years.

Perpetual Protocol is one of the earliest and most established decentralized perpetual futures protocols in DeFi. Since its launch in 2020, it has facilitated over $25 billion in trading volume and helped define what modern decentralized derivatives look like. Now, with this campaign, its native token $PERP is gaining fresh utility.

The campaign is powered by Nekodex, which brings the ecosystem into its next phase: a gasless, seedless, and chain-abstracted DEX experience.

Nekodex is a cross-chain crypto dApp that leverages advanced account abstraction and chain abstraction to eliminate the traditional pain points of DeFi. It delivers a smooth, intuitive user experience designed for the mobile-first generation. Since launch, Nekodex has onboarded over 41,000 users and currently sees between 4,000 to 5,000 daily active users — quietly setting a new benchmark for usability in the DeFi app space. With its upcoming V2 release, Nekodex will expand beyond EVM to support Solana, Sui, and BNB Chain, further solidifying its position as one of the most user-friendly and technically advanced crypto apps on the market.

This rewards campaign officially went live on April 12, 2025, and features three core reward mechanisms specifically designed for $PERP users, allowing token holders to directly and continuously benefit from the platform’s activity and growth:

1. Hold & Trade to Earn

Users can earn daily rewards simply by holding or trading $PERP on Nekodex. Rewards are automatically calculated and distributed based on user wallet activity and holdings; the process is simple and transparent.

2. Surplus Bonus

Nekodex trading includes a system called surplus, where users receive a portion of the positive price difference when trades execute more favorably than previewed. $PERP holders now earn an increased share of this surplus, up to 50% for users holding 5,000 or more tokens.

3. Binance Square Campaign

To boost visibility, Nekodex is encouraging users to post about $PERP and Nekodex on Binance Square. Verified posts will earn 10,000 Nekocoin instantly as part of a limited-time social quest.

As DeFi shifts toward more user-centric, mobile-native experiences, Nekodex is positioning itself at the forefront of this evolution. And now, $PERP holders can directly benefit from the platform’s growth and community momentum.

At the same time, Perp Labs’ pace of innovation has not stopped. The development team has revealed that more exciting product innovations are currently in the pipeline — including an AI-powered, on-chain prediction market. These new products are expected to further enrich and expand the overall ecosystem under the $PERP token umbrella, bringing users more diversified application scenarios and value capture opportunities.

Don’t Miss Out This campaign is live now and rewards are distributed to eligible users. To participate, visit: app.nekodex.org

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

Binance will delist FLM, KDA, and PERP.

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PANews reported on October 29 that, according to an official announcement, Binance has decided to cease trading and delist the following cryptocurrencies at 11:00 AM (UTC+8) on November 12, 2025: Flamingo (FLM), Kadena (KDA), and Perpetual Protocol (PERP).

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April 29: PeckShield monitoring shows a user’s Alchemix Yearn yvVault position (yvWETH token) was exploited, with estimated losses of ~$1 million. The victim had previously approved an unverified contract (address: 0x143a) — deployed 10 days prior — that contained an arbitrary call vulnerability attackers could exploit. The attacker leveraged this flaw to siphon the victim’s yvVault position.

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BCA Research raises its S&P 500 target to 8,100 points, with AI remaining a core variable.

BCA Research has become the latest strategy firm to raise its US stock market target, reflecting Wall Street’s growing optimism about earnings support for US equities in the second half of the year. The institution lifted its year-end S&P 500 target from 7,700 points to 8,100 points. BCA’s core view is that first-quarter corporate earnings exceeded expectations in both strength and breadth, and the US economy has re-entered an expansion phase. Similar to JPMorgan Chase, BCA believes this stock rally is not only driven by valuation expansion—earnings themselves are delivering the index’s gains. AI remains the core variable in this assessment. Large tech firms including Alphabet, Microsoft, Amazon, Meta and Oracle continue to increase capital spending on data centers and AI infrastructure, driving growth in orders for chips, servers, construction, power and related industrial chains. This provides a clearer fundamental basis for upward revisions to 2026 and 2027 earnings. The institution points out that risks exist: the earnings expansion brought by AI investments has already been quickly priced into the market. If subsequent returns on capital spending are questioned, or interest rates remain elevated, further upside for the index will require more earnings confirmation rather than relying solely on investor risk appetite.

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Tom Lee: Markets have nearly priced in two interest rate hikes from the Federal Reserve this year, and the rise in US Treasury yields is weighing on market sentiment.

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Japan and South Korea's stock markets closed higher across the board, with Japan's stock market hitting a new closing high.

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A newly created wallet withdrew 17,675 ETH from Binance, valued at $28.58 million.

According to monitoring by Onchain Lens, a newly created wallet withdrew 17,675 ETH from Binance, valued at $28.58 million.

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JPMorgan Chase raised its S&P 500 target to 7,800 points, while warning of an overcrowded AI trade.

JPMorgan Chase has raised its year-end outlook for U.S. stocks, while cautioning investors that the overcrowding in AI-related momentum stocks is becoming the market’s most vulnerable segment. The JPMorgan strategy team led by Dubravko Lakos-Bujas lifted its 2026 year-end target for the S&P 500 from 7,600 to 7,800 points, citing continued upward revisions to corporate earnings expectations and nearly doubling of AI-related capital expenditures. The bank noted that consensus earnings expectations for both 2026 and 2027 have been revised up by roughly 10% since the start of the year, a magnitude typically only seen in the recovery phase after a recession or major shock. However, JPMorgan does not interpret this upward revision as a risk-free rally. The bank pointed out that low-quality growth stocks, speculative growth stocks, and second- and third-tier AI-related concept stocks have become "extremely overcrowded," and a pullout of capital could trigger a rapid correction. The strategists also noted that rising equity supply in the coming quarters and potentially tight monetary policy could cap further valuation expansion. On the allocation front, JPMorgan recommends a barbell strategy: holding high-quality growth stocks and stocks directly benefiting from AI on one end, and low-volatility, high-quality stocks as a portfolio buffer on the other. The bank remains bullish on tech, select industrials, utilities, defense, banks, and some healthcare growth stocks, but believes the market’s upward trajectory will not be linear.

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Preview: The U.S. May core PCE data will be released at 20:30 tonight, and is projected to hit its highest level since October 2023.

The Fed’s key inflation gauge, the Personal Consumption Expenditures (PCE) price index, will be released at 20:30 tonight, with markets expecting a sharp rise in May inflation that could reignite rate hike bets. The headline PCE year-over-year growth rate is projected to hit 4.1% in May, up from 3.8% in April and marking its highest level since 2023. Core PCE, which excludes food and energy, is forecast to rise to 3.4% year-over-year, up from 3.3% in April and its highest reading since October 2023. Core PCE has remained above the Fed’s 2% inflation target since 2021. The recent short-term inflation uptick was driven mainly by surging gasoline prices amid the Iran conflict in May. Oil prices have since edged lower following the signing of a peace deal between the U.S. and Iran, but core inflation has strengthened in tandem, indicating that price pressures are not solely tied to geopolitical oil shocks. Data from the CME FedWatch Tool shows that as of Wednesday, markets are pricing in a 34% probability of a 25 basis point rate hike in July. Aditya Bhave, U.S. economist at Bank of America Securities, noted that the recent inflation rebound stems in part from tariffs and one-off disruptions, but successive supply shocks have eroded the Fed’s patience, while deflationary room in the housing sector has largely been exhausted. Data shows that core PCE dipped to 2.6% in April, its lowest level since 2022, but annualized core PCE growth over the past three and six months has hovered near 3.8%.

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The deployment aims to connect tokenized funds with Plume’s RWA investors.

Plume – a blockchain focused on real-world asset finance (RWAfi) with $159 million in total value locked – announced Thursday that tokenization platform Securitize will deploy institutional-grade assets on its Nest staking protocol.

Nest currently holds over $39.5 million in distributed assets, down nearly 30% over the past month, according to RWAxyz. The upcoming deployment will connect Securitize’s tokenized assets with Plume’s network of roughly 280,000 RWA investors, according to a press release viewed by The Defiant. Securitize also tokenized BlackRock’s BUIDL fund – the largest RWA product with over $2.5 billion in assets.

The deployment onto Nest will start with Hamilton Lane funds and expand throughout 2026 to include additional issuers and asset classes. The fund is targeting $100 million in capital, the release noted.

The move highlights how RWA and decentralized finance (DeFi) projects are increasingly exploring compliant ways to bring traditional assets on-chain for trading, staking, and other DeFi use cases.

As part of the initiative, Solv Protocol, a Bitcoin finance platform with over $2.8 billion in assets, will invest up to $10 million in Plume’s RWA vaults. Users can trade and stake these assets on Plume, which is backed by Apollo Global Management, while keeping them under Securitize’s regulated framework.

“Bitcoin’s role is becoming the foundation for real, yield-bearing capital markets,” said Ryan Chow, co-founder and CEO of Solv Protocol. “As regulated on-chain markets emerge, Bitcoin will underpin a new generation of yield, credit, and liquidity infrastructure, where demand for yield-bearing Bitcoin with RWA-backed yields replaces passive treasuries as the next phase of institutional adoption.”

The deployment will also utilize Bluprynt’s Know-Your-Issuer (KYI) system to verify assets and issuers.

The move comes a little over a month after Plume announced it would be acquiring Dinero, the developer of a liquid staking protocol on Ethereum. The deal added institutional staking products for Ethereum (ETH), Solana (SOL), and Bitcoin (BTC) to Plume’s platform, The Defiant previously reported.

Earlier this year, Plume also partnered with World Liberty Financial (WLFI), a DeFi project with ties to President Donald Trump, to make USD1 the official reserve asset for its native stablecoin, pUSD.

Plume’s native token (PLUME) is down 5% in the past day, per CoinGecko data.