Ethereum experienced a rare slashing event on Wednesday, with 39 validators penalized, according to blockchain explorer Beaconcha.in.The validators were tied to the SSV Network, a distributed validator technology (DVT) protocol that decentralizes staking infrastructure by splitting validator keys across multiple operators.Despite the scale of the incident, SSV founder Alon Muroch emphasized that the protocol itself was not compromised. Instead, the penalties stemmed from operator-side infrastructure issues involving third-party staking providers using SSV.Ethereum experienced a rare slashing event on Wednesday, with 39 validators penalized, according to blockchain explorer Beaconcha.in.
The validators were tied to the SSV Network, a distributed validator technology (DVT) protocol that decentralizes staking infrastructure by splitting validator keys across multiple operators.
Despite the scale of the incident, SSV founder Alon Muroch emphasized that the protocol itself was not compromised. Instead, the penalties stemmed from operator-side infrastructure issues involving third-party staking providers using SSV.
One cluster of slashed validators was tied to Ankr, a liquid staking provider. According to Muroch, routine maintenance on Ankr’s systems triggered the event. A second slashing involved a validator cluster that had migrated from Allnodes two months earlier. Investigators believe a secondary validator setup caused the duplicate signing that led to penalties.
In total, 39 validators were slashed, making this one of the largest correlated slashing events since Ethereum’s transition to proof-of-stake. Each validator slashed faces an immediate ETH penalty and could face inactivity leaks, compounded losses. One validator, backed by a 2,020 ETH stake, lost around 0.3 ETH, or about $1,300 at today’s prices, in the process.
While slashing is built into Ethereum’s design as a deterrent against malicious or negligent behavior, it remains exceedingly rare. Fewer than 500 validators out of more than 1.2 million active have been slashed since the Beacon Chain went live in 2020. Most incidents, including this one, have been traced to operator issues rather than deliberate attacks.
Mass slashings are particularly notable because correlated misbehavior increases the severity of penalties. Ethereum’s protocol enforces additional inactivity leaks when groups of validators are slashed together, amplifying the financial impact.
For Ethereum’s staking ecosystem, the latest wave underscores a familiar but critical lesson: validator safety hinges as much on infrastructure and operator diligence as on the protocol itself. Even when the underlying software is uncompromised, operational errors can have costly and very public consequences.
Read more: ‘Keep It Simple’: Prevent Your Eth 2.0 From Being Slashed
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Ethereum faced a rare mass slashing event with 39 validators penalized due to operator errors tied to the SSV Network.
Summary
39 validators tied to SSV Network were slashed after operational errors by Ankr and Allnodes. Each validator lost around 0.3 ETH, with further losses from inactivity leaks. Event highlights risks of validator mismanagement as Ethereum faces high exit queues and market volatility. On Sept. 10, 39 validators were penalized, according to data from blockchain explorer Beaconcha.in. making it one of the largest coordinated slashing events to affect Ethereum (ETH) since the switch to proof-of-stake in 2022.
The incident, which was caused by operator errors related to the SSV Network, highlights the risks associated with poorly maintained infrastructure when staking.
What caused Ethereum’s mass slashing event? The slashing was linked to third-party staking providers using distributed validator technology. Ankr triggered penalties during scheduled maintenance, while duplicate validator setups during a migration from Allnodes led to further slashing. Every validator lost about 0.3 ETH, or about $1,300, and inactivity leaks worsened the losses.
The penalties, though severe, were not the consequence of malicious activity or protocol errors. Instead, they demonstrate how operational errors can result in substantial financial losses for validators.
Slashing remains rare on Ethereum. Fewer than 500 of 1.2 million validators have been affected since the Beacon Chain launched in 2020, but this event was notable for its scale.
Why it matters To ensure network integrity, Ethereum’s slashing mechanism penalizes careless or negligent behavior. Despite the use of advanced infrastructure like SSV’s DVT, the Sept. 10 incident demonstrates that human error remains a vulnerability in the system.
The timing coincides with increased strain on Ethereum’s staking ecosystem. Over 699,000 ETH were added to the exit queue in August, causing withdrawal delays of up to 12 days.
According to Validator Queue data, as of this writing, there are over 2.5 million Ethereum waiting to be unstaked, which is an 18-month high. The 45-day wait time currently in effect coincides with a decline in Ethereum price.
Still, institutional interest remains strong. Despite continuous churn, Ethereum has added more than 50,000 new validators since May 2025 in response to U.S. regulatory clarity earlier this year.
SSV Network DAO today unveiled Compose, a new addition to its ecosystem that aims to stitch together Ethereum’s increasingly busy but fragmented rollup landscape. Built as a “based application” (bApp) that extends the role of Ethereum validators, Compose promises instant, atomic composability across all rollups. It is a capability its backers say will make it feel as if tokens and dApps live on a single, unified layer rather than on separate islands.
The timing could not be more consequential. Ethereum’s rollup-first roadmap has succeeded in driving much higher throughput and much lower transaction costs, but that success has also produced a new problem: a mosaic of ecosystems, Base, Arbitrum, Optimism and others. that don’t always talk to one another cleanly.
Users contend with slow or risky bridges, wrapped assets, lumpy liquidity and long withdrawal windows. Compose addresses that fragmentation in the industry by using validators to coordinate cross-rollup interactions that are synchronous and atomic, so a swap or transfer can complete across rollups without lingering middle steps or trust-heavy bridges.
Alon Muroch, CEO of SSV Labs, framed the launch as more than a feature release: it’s an attempt to preserve the network effects that made Ethereum valuable in the first place. “More rollups mean a more vibrant Ethereum ecosystem. However, realising Ethereum’s rollup-centric roadmap at scale requires preserving sovereignty, decentralisation, and unity across all layers of the ecosystem,” Muroch said, arguing that if each rollup grows in isolation, the broader platform risks fragmentation.
He added that Compose can let validators power cross-rollup coordination and seamless application interactions while keeping each rollup sovereign. Technically, Compose expands the validator’s job beyond simply signing attestations. Validators on SSV’s network will be able to act as publishers, participating in cross-rollup message passing and coordination, and they’ll receive extra rewards for doing so.
The approach builds directly on SSV’s Distributed Validator Technology (DVT), which already fragments validator duties across multiple operators for fault tolerance and decentralization. With Compose, SSV says those same validator networks can orchestrate synchronous, cross-L2 transactions without sacrificing decentralised security guarantees.
Next Step in the Evolution of Rollups If it works as advertised, Compose could upend a multi-billion-dollar industry: bridges. Today’s bridges often rely on optimistic assumptions, long withdrawal delays, or custodial arrangements to move assets between L2s; Compose promises instant, atomic transfers of any token on any dApp, on any rollup, removing many of the reasons users rely on wrapped assets or third-party bridge liquidity.
That shift would change how developers design multi-rollup dApps and could create a more seamless experience for users who expect one-wallet, many-rollups simplicity. The launch is also a scale statement: SSV is already a major player in Ethereum staking infrastructure. The network secures a material slice of the validator set, SSV’s own communications place it at roughly 14% of Ethereum’s validators with about 5 million ETH staked, positioning it to leverage that scale as it turns validators into coordination engines for rollup interoperability.
SSV Network’s DVT has long been adopted by staking protocols, node operators and exchanges; Compose looks to be the next step in that evolution. For now, Compose’s rollout begins digitally with an alpha and awareness campaign; the SSV DAO has signaled the community-driven nature of the effort and the team points readers to the Compose website and X channels for details and updates.
Whether Compose becomes the plumbing that lets Ethereum’s diverse rollups behave like one composable whole will depend on real-world integrations and how quickly developers and validators adopt the publisher model. Still, for an ecosystem wrestling with fragmentation at scale, Compose is an ambitious attempt to make cross-rollup interaction feel native instead of an afterthought.
AUTHOR
Mushumir Butt is a seasoned crypto journalist with over three years of experience reporting on the world of blockchain and cryptocurrency. At Blockchain Reporter, he delivers insightful news, in‐depth project reviews, and precise price analysis and predictions. With a strong background in SEO and digital marketing, Mushumir excels at breaking down complex trends into clear, accessible content, ensuring readers stay ahead in the fast‐paced crypto space.
SSV Network has unveiled a new project called Compose Network, pitching it as the “holy grail of Ethereum interoperability” and a layer that will connect rollups rather than compete with them. Announced in a spirited post on X, the team positioned Compose as a continuation of SSV’s infrastructure work, built on its validator stack and meant to enable atomic, instant coordination across Ethereum’s various rollups.
According to SSV’s announcement, Compose is a coordination layer at the execution layer: it lets actions that span multiple rollups execute together, or not at all. The core promise is straightforward but consequential. Deposit to Rollup A, swap on Rollup B, bridge back to Rollup A; all of those steps would settle together, atomically, in a single coordinated flow. No long waits on bridges, no fragmented liquidity across siloed rollups, just instant finality backed by fast zk proofs and secured by Ethereum.
SSV framed Compose not as a pivot but as an “SSV-native initiative.” The team says it builds on the group’s earlier work on distributed validator technology (DVT) and on the notion of “Based Applications” that SSV introduced earlier this year. By extending those ideas, Compose aims to give SSV validators a new role: powering cross-rollup coordination and earning additional incentives for doing so. In SSV’s view, that will create more use cases, increase demand for validators, and strengthen network effects while attracting a growing ecosystem to build on top of the infrastructure.
The company emphasized that SSV Labs and the SSV DAO remain committed to advancing DVT and to the network’s core roadmap, portraying Compose as the next logical step in both SSV’s roadmap and Ethereum’s evolution. “Compose isn’t just about faster transactions,” the post reads, “It’s about restoring the Ethereum experience, where everything works together again. Atomic. Synchronous. Instant. Composable.”
From DVT to interoperability Technically, Compose promises to stitch rollups at the execution layer using a combination of fast zero-knowledge proofs and SSV’s validator security. That architecture is intended to deliver the kind of atomic cross-chain experiences users and developers have long sought: multi-step flows that either complete in full across rollups or fail cleanly, without leaving funds stranded mid-bridge. If Compose delivers on its claims, developers would be able to design multi-rollup applications that behave as if they were deployed on one unified Ethereum, rather than a patchwork of separate environments.
SSV’s announcement also teased a broader play: by enabling synchronous composition across rollups, the project aims to make Ethereum scale horizontally via rollups while preserving a vertically unified user and developer experience. The blog post linked by SSV promises more technical detail and context for teams that want to learn how Compose will work and who will be able to build on it.
To answer questions from the community, SSV invited followers to a community call and pointed readers to its Discord channel. The team also encouraged people to follow Compose Network on X for updates as the project moves from announcement toward implementation. The introduction of Compose comes at a moment when Ethereum’s roadmap increasingly relies on rollups for scaling, and the ecosystem is hungry for better cross-rollup primitives. Bridges have long been a pain point; slow finality, liquidity fragmentation, and complicated user flows have frustrated both builders and end users.
By promising instant, atomic multi-rollup transactions, Compose isn’t trying to be another rival rollup; it’s pitching itself as the glue that actually makes rollups work together. The idea is simple: stitch different rollups into a single, seamless experience so users and builders don’t have to wrestle with slow bridges or fragmented liquidity.
Of course, whether Compose can pull it off comes down to the gritty details, the implementation, how validator rewards are structured, and whether SSV can produce fast, reliable zk proofs at scale. Still, the announcement feels like a bold step: moving interoperability from basic message passing to true atomic execution. If it succeeds, it could change how multi-rollup apps are built and, more importantly, how they feel to use across Ethereum.
AUTHOR
Mushumir Butt is a seasoned crypto journalist with over three years of experience reporting on the world of blockchain and cryptocurrency. At Blockchain Reporter, he delivers insightful news, in‐depth project reviews, and precise price analysis and predictions. With a strong background in SEO and digital marketing, Mushumir excels at breaking down complex trends into clear, accessible content, ensuring readers stay ahead in the fast‐paced crypto space.
SSV Network, the leading distributed validator technology (DVT) provider on Ethereum, securing over 5.5M ETH, is set to undergo the biggest comprehensive upgrade in its history. The SSV DAO has unveiled a potential path for SSV Staking, a major upgrade that would fundamentally redesign how the network accounts for validator balances and collects fees. If approved, the proposal would introduce SSV Staking delegation and Effective Balance Oracles, integral to the network, and turn the SSV token into an ETH accrual token, allowing SSV stakers to receive ETH rewards accrued from network fees.
At the center of the proposal is a move away from SSV-denominated protocol fees toward a fully ETH-native accounting and reward model that reflects the reality of Ethereum’s validator economy. Validator rewards are earned in ETH, operator costs are priced in ETH, and post-Pectra validator balances can now scale up to 2,048 ETH per validator. SSV Staking is designed to align the protocol — and its token — with that reality.
Introducing Effective Balance Oracles for post-Pectra accounting In parallel, supporting SSV staking and Ethereum’s post-Pectra validator model requires effective balance–aware accounting. Effective Balance Accounting ensures that fees, runway calculations, and liquidation logic scale with the actual stake secured by validators, rather than relying on “per-validator” accounting that has changed with validator consolidation – allowing a single validator to have a balance of 2048 ETH.
Implementing this model natively requires the protocol to reflect validator effective balances on-chain throughout their lifecycle. To bridge the gap between Ethereum’s consensus layer and on-chain accounting, the protocol introduces Effective Balance Oracles that track validator balances and update the protocol state.
Operating this oracle layer securely and resiliently is a core protocol function. Under SSV Staking, SSV holders would stake and delegate their tokens to support the selection and operation of oracle participants, aligning economic incentives with protocol security.
From Governance token to ETH accrual asset Under the proposal, SSV holders would be able to stake their tokens in a new staking contract and receive cSSV, a liquid ERC-20 token minted 1:1 to represent a staked position. While holding cSSV, participants would accrue a pro-rata share of ETH-denominated network fees, distributed through the protocol in proportion to staking participation.
Elad Gafni, SSV Foundation, said:
“cSSV is designed to represent more than a staked position; it represents participation.” Adding that: “SSV Staking is a mechanism for SSV holders to help operate and secure a core protocol function through delegation. This is a fundamental shift in how value flows through the network.”
Crucially, holding cSSV preserves full governance and voting rights, while enabling composability across DeFi as a liquid representation of staked SSV.
A new relationship between Ethereum infrastructure and SSV token holders SSV Staking goes beyond introducing yield. It is a full redesign of the network’s economic engine, connecting validator balances, ETH-denominated fees, oracle-backed accounting, and token incentives into a single system.
If approved by the DAO, SSV Staking would mark a shift from SSV as a governance and operator payment token toward an ETH accrual token, tightly coupled to the usage of one of Ethereum’s largest staking infrastructure providers.
About SSV Network SSV Network provides a distributed infrastructure designed to improve the fault tolerance, decentralization, and security of Ethereum validators through Distributed Validator Technology (DVT). SSV Network is the leading provider on Ethereum, securing over 5.5M ETH, worth an estimated ~$16 billion, across nearly 2,000 globally distributed node operators.
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Robert Drage [email protected] 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.
As XRP stabilizes around $2.70 and the broader crypto market catches its breath, a wave of smaller altcoins is stealing the spotlight, led by a 95.3% surge in Kyber Network Crystal (KNC).
Kyber Network’s explosive rally follows the late-May launch of its crosschain platform, with CEO Victor Tran touting the team’s long-term resilience and development consistency. The altcoin’s breakout underscores a broader trend of niche tokens outperforming in a sideways market, with Altcoin and meme token Kori also seeing triple-digit gains over the past week.
But while some projects cite platform launches and teasers as catalysts, others appear to ride on hype alone—raising questions about sustainability as traders chase momentum.
‘Everyone keeps working hard‘ Kyber Network Crystal, over the last 24 hours, reached $0.6118 from a low of $0.3131. The surge comes months after Kyber Network launched its KyberSwap Crosschain platform in late May.
Tran took to X to address the token’s notable performance. He also posted a screenshot of the surge alongside a message emphasizing the team’s dedication.
KNC 24H price chart from CoinGecko “Nothing changed, everyone keeps working hard as we have been for 8 years. We want to prove OG teams will win in the long run. @KyberNetwork”
This statement appears to position Kyber Network as a veteran project that has weathered multiple market cycles. He also suggested that sustained development and team commitment are finally being recognized by the market.
Second on the top gainers list is Altcoin which has surged 86.8% over the past 24 hours, reaching $0.08106 from $0.03835. The project has also posted a cryptic announcement teasing developments for next week.
ALT 24H price chart from CoinGecko While details remain scarce, such forward-looking statements often drive speculative buying as traders position ahead of potential news.
However, ALT has faced technical issues with price tracking. The project’s X account addressed concerns about incorrect price displays: “Hey coingecko, please correct the price for $ALT on your platform. You’re displaying the price of the wrong ALT token, which is completely unrelated to us and it’s impacting the community.”
Third on the list is Kori, which has climbed 68.5% in the last 24 hours, trading at $0.04098 from $0.02285. The meme coin has shown remarkable longer-term performance, surging over 1,600% in the last 30 days and 485% in the past week.
KORI 24H price chart Despite the price action, there haven’t been any notable developments from the project that would explain such massive gains. The token has been trending on X, which appears to be the primary driver behind its momentum.
The current altcoin surge occurs against a backdrop of market stabilization. XRP (XRP) has cooled down from its recent rally and is now trading in the $2.7 range, while Solana (SOL) maintains its position around $160.
However, traders should approach these high-flying tokens with caution. While KNC has clear catalysts in the form of product launches and team statements, tokens like KORI appear to be driven primarily by social media hype without fundamental backing.
Kyber Network jumps about 23% in 24h as volume spikes on Kyber swap upgrades and new liquidity integrations.
Summary
KNC trades near $0.17–$0.18 after a roughly 23–30% 24h gain, with price up around 20% over the past week and almost 96% over 30 days. 24h KNC volume surged above $400m across exchanges, reaching multi‑month highs and amplifying upside once the token broke a short‑term moving‑average resistance that now acts as support. Kyber expanded cross‑chain swap routing and launched Smart Exit for LPs, plus new integrations like Vaultedge, which broaden liquidity access and underpin the latest move from a technical‑analysis perspective. Kyber Network Crystal (KNC) gained more than 23% in recent trading sessions, driven by increased trading volume and recent platform upgrades, according to market data.
The token’s advance contrasted with losses posted by several large-cap cryptocurrencies during the same period, according to trading data.
Trading volume for Kyber Network Crystal increased substantially in the short term, reaching levels not observed in recent months, according to exchange data. Elevated trading volume can amplify price movements when combined with buying pressure, market analysts noted.
Kyber Network announced several product enhancements to its decentralized exchange platform. The protocol expanded cross-chain functionality on its swap product, enabling users to exchange assets across multiple blockchains using liquidity from various providers in a single transaction, according to a company statement.
The platform also introduced Smart Exit, a feature for liquidity providers that automates position exits based on predefined conditions for profit-taking, risk management, or time-based parameters, according to the announcement. The feature has been deployed on select networks, with additional integrations planned, the company stated.
Kyber Network completed an integration with Vaultedge, bringing additional assets to the swap platform and expanding liquidity routing options, according to the company. Another integration is scheduled for future deployment, which is expected to further extend the platform’s liquidity access, the company said.
From a technical analysis perspective, the token broke above a short-term moving average that had previously acted as resistance, according to chart data. That level now represents a potential support zone, technical analysts noted.
Maintaining price levels above this support could indicate continued upward momentum toward nearby resistance levels, analysts said. A break above resistance may lead to additional gains, while a failure to hold support, particularly with declining volume, could result in a price retracement, according to technical analysis.
The platform also rolled out Smart Exit, aimed at liquidity providers, which automates position exits as per predefined conditions. One more amalgamation is set for future deployment, which is anticipated to further widen the platform’s liquidity access, the company mentioned. Kyber Network plunges around 23% in just one day as volume spikes on KyberSwap upgrades and new liquidity amalgamations.
Kyber Network Crystal (KNC) accumulated over 23% in the latest trading sessions, influenced by surged trading volume and the latest platform upgrades, as per the market data.
The progress of the token compared with losses listed by various large-cap cryptocurrencies in that same period, as per the trading data. Trading volume for Kyber Network Crystal surged substantially in the short term, attaining levels not witnessed in the past few months, as per the exchange data.
Increased trading volume can boost price movements when amalgamated with purchasing pressure, as per the market analysts. Kyber Network publicised various product amplifications to its decentralised exchange platform.
The protocol widened cross-chain functionality on its swap product, permitting users to exchange assets over various blockchains using liquidity from different providers in a single transaction, as per the statement of the company.
The Additional Features The platform also rolled out Smart Exit, aimed at liquidity providers, which automates position exits as per predefined conditions for profit-taking, risk management, or time-based parameters, as per the announcement.
The feature has been placed on some networks, with additional amalgamations planned, the company mentioned. Kyber Network fulfilled an amalgamation with Vaultedge, taking extra assets to the swap platform and widening liquidity routing options, as per the company.
One more amalgamation is set for future deployment, which is anticipated to further widen the platform’s liquidity access, the company mentioned. Taking the technical analysis perspective into account, the token broke above a short-term moving average that had so far acted as resistance, the chart data reports.
The level now indicates a potential support zone, technical analysts mention. Keeping price levels over the support could show a continued upward trajectory toward nearby resistance levels.
A break over resistance may result in extra gains; however, if it does not succeed in holding support, mainly with slipping volume, it could lead to price retracements, as per technical analysis.
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In the cryptocurrency world, a significant step has been taken. Centrifuge, a startup specializing in blockchain-based tokenized real-world assets (RWA), has teamed up with Coinbase and Morpho to create a new credit market. This market aims to provide instant liquidity to institutional investors through tokens backed by U.S. Treasury bonds.
The Power of Tokenized Assets UnleashedThe innovative credit market will operate on Coinbase’s Ethereum-based Base network. Tokenized Treasury bonds, such as Centrifuge’s Anemoy Liquid Treasury Fund (LTF) and Hashnote’s U.S. Yield Coin (USYC), will be used as collateral in this market. The system established by Morpho will offer investors a secure borrowing environment.
Centrifuge implemented the idea of tokenizing real assets on the blockchain in 2017. However, at that time, these assets faced liquidity issues. In recent years, assets like short-term Treasury bonds have enabled the credit market to thrive. Lucas Vogelsang, one of the founders of Centrifuge, stated that this market aims to provide more benefits to tokenized assets in collaboration with Morpho.
According to Vogelsang, if you own a Treasury bond and need liquidity for a few hours or days, you can access instant liquidity in this market without going through a lengthy and costly process to reclaim your tokenized asset.
A New Era May BeginThe collaboration between Centrifuge, Coinbase, and Morpho also introduces the use of Coinbase Verifications in the permissioned lending market for the first time. The innovation makes the process more secure by allowing Coinbase customers to verify their KYC (know your customer) information through the Ethereum Attestation Standard.
The partnership accelerates the digitalization of traditional financial instruments by popularizing the use of tokenized assets in the financial world. Investors will now have the chance to create a more flexible and efficient financial structure by accessing instant liquidity through blockchain. This new credit market, managed by Morpho Vaults, Steakhouse Financial, and Re7 Labs, stands out as a harbinger of significant transformation in the financial world.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Real-world asset tokenization firm Centrifuge has launched a new lending market in collaboration with MorphoLabs and Coinbase's layer-2 blockchain, Base
Real-world asset tokenization firm Centrifuge has launched a new lending market in collaboration with MorphoLabs and Coinbase's layer-2 blockchain, Base.
This initiative marks a significant development in onchain institutional lending, leveraging Coinbase attestations for the first time. The Morpho Vaults, which are now live, require users to create a Coinbase account, allowing seamless access to gated RWA vaults by Centrifuge.
The vaults are curated by Steakhouse Financial and Re7 Capital and include collateral from Centrifuge, Midas RWA, and Hashnote Labs. This collaboration aims to bring institutional-grade lending to the blockchain ecosystem.
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Centrifuge, a real-world asset (RWA) solution and a Parachain, has a plan for Polkadot, a smart contracts platform. In a proposal, the RWA platform suggests that the newly created Polkadot Community Foundation allocates $3 million USDC to their T-Bill pool. This pool is held within the Anemoy Liquid Treasury Fund and aims to serve multiple objectives.
Centrifuge Wants Polkadot To Invest $3 Million In T-Bills In their proposal, allocating the $3 million to T-Bill as an investment will benefit the broader ecosystem. Of note, it will help boost the long-term sustainability of the Polkadot Treasury. This is because the T-Bill pool will generate stable yields from real-world assets, thereby further increasing the financial health of the Treasury.
Though the funds will be from the foundation, Centrifuge argues that injecting the $3 million USDC into the T-Bill pool will help increase the network’s total value locked (TVL). Subsequently, this will also expand the Treasury’s assets.
The foundation might consider investing in RWAs, as proposed by Centrifuge, as it could foster the growth of this technology within Polkadot, pushing adoption and growth as a result.
Laying out their proposal, Centrifuge said if the foundation decides to invest, it would align with their previous investment in the Anemoy Liquid Treasury Fund. In turn, this may offer a unique opportunity for Polkadot to diversify and expand its investment basket. It is especially now that tokenization and RWA is picking up momentum.
RWA Picking Up Steam, Will DOT Reverse Losses? BlackRock, one of the top asset managers in the world, is one of the leaders in tokenizing treasury bills. On Ethereum, the manager has launched BUIDL, a platform where institutions can invest in tokenized Treasury bills. As of September 10, BUIDL is the largest tokenized Treasuries provider, managing over $514 million, according to RWA.xyz.
BlackRock BUIDL TVL | Source: RWA.xyz The proposal is so far garnering community support. Roughly a week before the decision, over 53% agreed with this proposal. However, some community members are expressing concerns.
Most of them point to the potential risks and the negative implications of this on the network’s Treasury. One concern is that if this is approved, it could increase DOT spending requests, eventually depleting its reserves.
While the prospect of RWA taking off in Polkadot is bullish, DOT is still under pressure. From the daily chart, DOT is down roughly 65% from March highs. It is also in a descending channel and retesting multi-month support.
Polkadot price trending downward on the daily chart | Source: DOTUSDT via Binance, TradingView The primary support lies at around $3.5. On the upper end, resistance is at $5. A break above this line will lift sentiment, propelling the coin towards $6.5 in a buy trend continuation formation.
Feature image from Unsplash, chart from TradingView
Anemoy, a tokenized securities issuer powered by on-chain finance platform Centrifuge, has partnered with Archax to bring their Liquid Treasury Fund to the platform.
Centrifuge, Anemoy and Archax are partnering to expand access to new investment opportunities in the tokenized real-world assets market.
Per a press release shared with crypto.news, the partnership will allow London-based Archax to offer its users direct access to the U.S. Treasury bills via Anemoy’s liquid treasury fund.
Liquid funds relate to investments that one can easily liquidate for cash, and includes short-term treasury bills.
The partnership looks to tap into Anemoy’s web3 infrastructure, Centrifuge’s growing traction in the real-world assets, and Archax’s distribution channels and venture capital.
With Archax handling sub-custodial services as well as compliance via know your customer, the move is intended to make it easier for institutional investors to gain exposure to T-bills, thereby expanding Archax users’ investment portfolio beyond USDC (USDC).
The strategic partnership with Archax, which is the first regulated digital assets exchange in the U.K., comes days after asset manager Janus Henderson announced its collaboration with Centrifuge and Anemoy.
On Sept. 13, Centrifuge revealed that Janus Henderson was taking over the management of Anemoy’s LTF, with the firms’ eyeing a market that is attracting major financial advisors and asset managers.
Nick Cherney, the head of innovation at Janus, said that the decentralized blockchain and the RWA market could be bigger and potentially more disruptive that the exchange-traded funds space.
According to Cherney, there’s possibility that these investments around decentralized blockchain will do to ETFs what the exchange-traded funds did to mutual funds.
Recent RWA.xyz data shows the global tokenized real-world assets market has grown to over $12 billion, with tokenized treasuries accounting for about $2.2 billion.
Asset issuers can now leverage Chronicle for on-chain and off-chain data on Centrifuge.
Chronicle, an oracle solution that recently spun out of Sky (formerly MakerDAO), is expanding into Centrifuge’s real-world asset (RWA) ecosystem.
On Sept. 24, Centrifuge announced it tapped Chronicle to provide real-time price data via a decentralized RWA oracle for Anemoy’s Liquid Treasury Fund (LTF) — a tokenized U.S. treasuries fund operating on Centrifuge Chain.
The oracle allows LTF investors to track the net asset value of the fund’s on-chain and off-chain holdings — including cash movements and assets held with an off-chain custodian — in real-time.
“Bringing the RWA Oracle into our platform enhances the transparency of on-chain assets, giving investors access to verified, real-time data,” said Jeroen Offerijns, CTO of Centrifuge.
“This collaboration is a game-changer for fund transparency,” said Anil Sood, the co-founder of Anemoy. “Investors can now see the exact composition of the Liquid Treasury Fund.”
Other asset managers launching tokenized RWAs on Centrifuge can also leverage Chronicle’s oracle for price data and real-time monitoring of both on-chain and off-chain assets.
Chronicle spun out of Sky in September 2023, launching its product publicly for the first and offering its data services across multiple chains. The project has secured up to $22 billion worth of assets for Sky and continues to provide oracle services to the project.
Chronicle became the first partner of Sky’s Token Rewards partner on Sept. 18, allowing USDS holders to earn Chronicle points.
Centrifuge currently boasts a total value locked (TVL) of $201.5 million across its RWA credit pools. The price of its CFG token is up 6.8% over the past 24 hours, according to The Defiant’s crypto price feeds.
Tokenized treasuries surgeAnemoy launched LTF in August 2023. The fund quickly gained adoption among DeFi protocols as a vehicle for earning yield on treasury reserves. Frax’s governance greenlit a $20 million allocation into LTF in December, Gnosis DAO approved a $10 million outlay to the fund in January, and Celo mobilized $100,000 in March.
The value of on-chain tokenized treasuries has exploded in 2024, buoyed by the launch of BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL) in March.
BUIDL currently leads the sector with a $522.2 million market cap, followed by Franklin Templeton’s OnChain U.S. Government Money Fund (FOBXX) with $435 million, and Ondo’s treasury-backed stablecoin, USDY, with $400.1 million, according to Rwa.xyz.
The combined value of on-chain treasuries is now $2.24 billion, up 190% since the start of the year.
Combined market cap of on-chain U.S. treasuries. Source: Rwa.xyz.On Sept. 3, Anemoy launched its DeFi Yield Fund (DFY), offering diversified exposure to a variety of funds offering market-neutral yield strategies.
Anemoy’s LTF fund has attracted nearly $40 million from investors, while DFY hosts a TVL of $1.02 million.
The partnership makes Centrifuge available to Fireblocks’ 2,000 institutional counterparties.
Centrifuge is integrating support for Fireblocks in the latest example of the tokenized real-world asset (RWA) sector's maturation.
On Oct. 21, an RWA tokenization and financing platform, integrated Fireblocks, an institutional-facing digital asset custodian.
The move allows Centrifuge asset managers to launch and manage funds using Fireblocks to custody both Centrifuge-native RWAs and its CFG token. The move also makes Centrifuge available to more than 2,000 institutional counterparties using Fireblocks Network.
“By integrating Centrifuge, we will help meet the growing demand for real-world asset tokenization, as well as bringing these assets on-chain,” said Idan Ofrat, chief product officer at Fireblocks. “With a growing list of over 80 supported blockchains, Fireblocks enables our customers to securely custody tokens on the latest chains and quickly build innovative services for their customers.
"We're excited to integrate Fireblocks to bring our customers closer together and simplify the process of issuing and managing tokenized RWAs for asset managers,” said Bhaji Illuminati, chief marketing officer of Centrifuge.
Centrifuge is an on-chain credit protocol enabling users to provide financing to real-world businesses. Users gain access to a variety of assets, including asset-backed securities, real estate, and invoice financing as both a source of yield and collateral underpinning loans.
Fireblocks has facilitated more than $6 trillion worth of digital asset transfers, and counts major banks such as BNY Mellon and BNP Paribas among its clients.
Centrifuge adoptionCentrifuge currently hosts a total value locked (TVL) of $152 million across its RWA credit pools.
Centrifuge has hosted $652.9 million worth of asset financing to date, up nearly triple since the start of 2023, according to Dune. BlockTower’s four pools offering exposure to asset-backed securities and consumer loan obligations account for 51.4% of the total, followed by New Silver’s three real estate-backed pools with 25.3%
New Silver Series 2 is Centrifuge’s largest active pool with a TVL of $41.7 million, followed by Anemoy’s Liquid Treasury Fund (LTF) with $36.1 million.
LTF positions Centrifuge as the eighth-largest tokenized treasury issuer, according to rwa.xyz. On Sept.13, Centrifuge announced that Janus Henderson, a $335 billion asset management firm, was taking over the management of LTF.
In April, Centrifuge announced it closed a $15 million Series A funding round co-led by ParaFi Capital and Greenfield.
The price of CFG is up 2% over the past 24 hours, according to The Defiant’s crypto price feeds.
Several states in the U.S. are already considering the idea of a strategic Bitcoin reserve as proponents await a push from Donald Trump on the federal level.
On the campaign trail for the November 2024 elections, now President-elect Donald Trump made several big promises to the crypto industry. Still, none has been as talked about following the election as his intention to launch a strategic U.S. Bitcoin reserve.
However, while pundits continue to debate the feasibility of such a move at the Federal level and its possible market impacts, some states may be looking to get in on the action.
U.S. States Consider the Orange Pill Following Donald Trump’s election victory, at least three U.S. states are considering building their own Bitcoin stockpile employing unique frameworks, as recently highlighted in a CNBC Crypto World report on Tuesday, December 24. Speaking with CNBC, Centrifuge General Counsel Eli Cohen asserted that the development was significantly positive for the crypto markets.
Pennsylvania On November 12, barely a week after Trump’s announcement as the next U.S. president, Pennsylvania State Representative Mike Cabell proposed a bill to allow the state treasurer to invest state funds in Bitcoin.
House Bill 2664, or the Strategic Bitcoin Reserve Act, seeks to allow the treasurer to invest up to 10% of the State General Fund, the Rainy Day Fund, and the State Investment Fund in Bitcoin.
Cabell argues that implementing the bill would help protect state assets against inflation. He asserted that the state’s purchasing power had reduced by a staggering 20% in the past four years alone while Bitcoin continues to gain strength against the dollar.
So far, Pennsylvania’s Strategic Bitcoin Reserve Act has received only one co-sponsor, Representative Aaron Kaufer.
Texas On December 12, Texas State Representative Giovanni Capriglione proposed House Bill 1598, or the Texas Strategic Bitcoin Reserve Act, to allow the state to establish a Bitcoin reserve within its treasury.
Unlike Pennsylvania’s proposed bill allowing the treasurer to purchase Bitcoin with established state funds, the proposed Texas bill will establish the reserve by enabling residents to pay charges and taxes with Bitcoin. The stockpile will also be open to voluntary donations.
The Texas bill also details the establishment of cold storage and a holding period, noting that the state must not sell the reserve for at least five years.
Like Pennsylvania’s Cabell, Capriglione also argues that Bitcoin could act as an inflationary hedge preserving value for Texans.
On Tuesday, Centrifuge’s Eli Cohen told CNBC that Texas’ bill may face significant infrastructure hurdles and problems getting the crypto community to submit their wallet for taxes.
Ohio Ohio is the most recent to join the Bitcoin rush. On December 17, state Representative Derek Merrin submitted a proposal to allow the state to establish a Bitcoin stockpile.
House Bill 703, or Ohio’s Bitcoin Reserve Act, seeks to give the state treasurer the flexibility to invest in Bitcoin if they desire and build a reserve from seized assets.
Merrin hopes the bill will pave the way for quick legislation in 2025.
The recent state bills, like the proposed national effort, are all in their early stages, and it remains unclear if they can garner the needed support to become law. But till then, the ensuing speculation continues to drive excitement about Bitcoin and crypto.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
Centrifuge, a prominent platform for unlocking on-chain finance for investors, has announced a governance proposal CP141 seeking approval to develop Centrifuge V3. V3 is an EVM-based protocol designed to advance the real-world asset (RWA) market. The upgrade will introduce key features such as modular fund infrastructure, chain abstraction, and enhanced composability with decentralized finance (DeFi).
New governance proposal CP141: Development of Centrifuge V3, a multi-chain, EVM based protocol
This proposal seeks governance approval to initiate the development of Centrifuge V3, an EVM-based protocol, to drive the next phase of growth for the RWA market. Built as a… pic.twitter.com/Z3COlStwKq
— Centrifuge (@centrifuge) February 4, 2025 Centrifuge leveraged its leadership in RWAs to develop innovative versions before launching the V3 upgrade which focused on fund security and management. Centrifuge V3 introduces an abstraction functionality that enables fund managers to run their preferred blockchain network for management and centralized liquidity from multiple EVM platforms. The protocol includes a feature that enables synchronized interactions of tokenized assets between various blockchain networks.
Centrifuge’s Strategic Shift to the EVM Ecosystem The decision to develop Centrifuge V3 natively on the EVM is based on several strategic considerations. The total value locked in Centrifuge liquidity pools draws more than 95% of its funds from EVM chains because investors currently prioritize this technical framework. The integration will strengthen composability across DeFi platforms by adopting established EVM standards.
EVM-compatible chains provide developers and institutional partners with advanced tools and abundant on-chain money flow. The benefits of EVM compatibility enable Centrifuge to develop at scale and deliver solutions that meet expanding customer needs for assurance-compliant tokenized asset management offerings. The migration of governance infrastructure together with CFG token support will take place on an EVM chain to maintain compatibility with existing systems.
Implementation and Development Framework The governance proposal outlines a development plan to be executed by k/factory, a software studio founded by Centrifuge’s original contributors. The team will provide updates to the decentralized autonomous organization (DAO) as the project progresses.
The new version Centrifuge V3 will enable interoperability through standard implementations of ERC7540 and ERC6909 which support flexible fund arrangements. Through its multi-chain asset management framework, the system enables asset issuers to operate across chains which makes their products more accessible to institutional investors.
The Centrifuge team implements V3 with the purpose of solidifying its leadership in RWA infrastructure services while establishing the protocol as a leader in blockchain financial innovation. The launch of Centrifuge V3 is positioned as a necessary step to meet the increasing demand for on-chain RWAs ensuring the protocol remains at the forefront of the evolving digital asset ecosystem.
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Crypto journalist with years of experience providing in-depth analysis and news on blockchain and decentralized finance. With a keen eye for detail, Shahzaib delivers insightful articles that explore the latest trends, market movements, and innovations within the crypto and blockchain ecosystem. His work focuses on educating readers while offering expert commentary on the evolving landscape of digital assets, DeFi protocols, and the broader impact of blockchain technology.
The former CMO sees real-world asset tokenization as being at an inflection point.
Centrifuge, a real-world asset (RWA) protocol with over $100 million of total value locked, has a new CEO, Bhaji Illuminati.
The company’s former chief marketing officer, Illuminati is tasked with moving Centrifuge forward as the tokenization of RWAs starts entering the mainstream.
“We can lean on our experience and the lead that we've created over the past eight years and turn that into a very strong position now when the market is ready,” she said, pointing to Blackrock’s BUIDL fund as a “strong indicator of adoption and readiness for asset managers to start using this technology.”
That accelerated the pace of adoption, she said, because when the world’s largest asset manager is willing to take regulatory and reputational risk of tokenizing a fund, “that opens up doors for a lot of other asset managers.”
Between that, the Trump Administration’s new regulatory atmosphere, and MakerDAO’s Spark Tokenization Grand Prix, launched in July to bring $1 billion of tokenized assets onto the platform, “it really is this inflection point, where the number of conversations we're having, the amount of inbound we're getting, the time is now for the real adoption of this technology,” Illuminati said.
“And there's a sense of urgency, not just coming from us, but actually coming from TradFi… where nobody wants to be the last one who's not using blockchain technology as part of their process,” she said.
One of Centriufuge’s clients, fund manager Janus Henderson said they had tokenization and blockchain on their roadmap for a long time but never had that “why now” moment. The Maker Grand Prix gave them “enough reason to justify starting to do that work,” because they wanted to go after that potential allocation, she said.
A New DirectionIlluminati takes over from Lucas Vogelsang, who will be moving to the company’s board to focus on strategy.
Centrifuge is a decentralized finance (DeFi) platform that aims to bridge real-world assets such as invoices and other receivables to the blockchain, enabling businesses to access liquidity from the DeFi ecosystem. Founded in 2017 by Vogelsang and Martin Quensel, the company has raised over $20 million across multiple rounds and has a total-value locked of almost $120 million, according to Dune Analytics data.
The platform's CFG token, which has a market capitalization of $95 million, is down by more than 30% in the past 30 days to $0.1825 and is down by over 90% from its all-time high of $2.19 in October 2021, according to CoinGecko.
Taking over as CEO, first on a temporary basis and now permanently, was an opportunity for Illuminati, who was not, like most of her fellow CEOs, either a developer with experience in the blockchain space, or someone from the financial world and Wall Street.
“But my background, coming from marketing and the go-to market side, gives me a unique perspective, where I'm able to help communicate more broadly to traditional finance and to the wider capital markets systems that we need to start building these products for,” she said.
Illuminati started at Centrifuge in February 2023 as CMO after years at various companies in the fintech, software and marketplace applications industries. She has been interim CEO since July of 2024.
As for being one of the few women in a leadership role in the crypto industry, Illuminati said it was a topic that hadn’t come up.
“I’ve always viewed being a woman as an advantage rather than a challenge,” she said. “I try to bring a unique perspective to leadership—emphasizing empathy, curiosity, listening, and the ability to make critical decisions quickly with the right information," she said. "I’ve always believed that surrounding myself with people from different backgrounds and experiences leads to better outcomes.”
She hopes being a woman in a leadership role helps other women be attracted to those roles.
“Innovation comes from fresh perspectives and that only happens when you bring together a range of people with different backgrounds to exchange ideas and collaborate,” Illuminati said.
BounceBit, a pioneer platform for CeDefi infrastructure and RWA integration, has partnered with Centrifuge, a prominent company strengthening asset managers in managing, tokenizing, and distributing funds on-chain. The collaboration aims to integrate the Janus Henderson Anemoy Treasury Fund ($JTRSY) into the portal of BounceBit to increase the tokenized treasury products’ availability for users. The platform revealed this development on its official social media account.
BounceBit partners with @centrifuge to expand RWA offerings.
The Janus Henderson Anemoy Treasury Fund (JTRSY), powered by Centrifuge, invests exclusively in short-term US Treasury Bills.
It seamlessly fits into our RWA infra, bridging Western innovation with Asian liquidity. pic.twitter.com/Jus4u4Z6BB
— BounceBit (@bounce_bit) March 27, 2025 BounceBit Joins Forces with Centrifuge to Expand RWA Offerings with JTRSY The partnership between BounceBit and Centrifuge underscores the former’s commitment to expanding the integration of RWAs. The initiative aligns with the 2025 roadmap of BounceBit, which is titled “Synchronicity.” It stresses the connection between the Western financial advancement with the liquidity infrastructure of Asia. With the integration of JTRSY, BounceBit is reportedly broadening its package of institutional-scale Treasury options. In this respect, it provides consumers with more ways of diversification concerning the crypto ecosystem.
BounceBit has been making great efforts in widening the RWA integration. This partnership with Centrifuge boosts the respective vision, guaranteeing the key position of tokenized assets in the growth strategy of BounceBit. It provides investors with a regulated and secure avenue to reach conventional financial instruments in a decentralized environment. Both the entities work together to go beyond just tokenizing RWAs, creating meaningful use cases for these assets in the DeFi landscape.
Establishing Robust RWA Network to Drive Innovation According to BounceBit, the mutual endeavor marks a crucial move in fulfilling its mission to establish a resilient RWA network. As this partnership unfolds, the consumers can anticipate many noteworthy updates and improvements, fortifying BounceBit’s status as a frontrunner in RWA innovation. The platform advises the community to stay tuned for additional developments as it keeps driving the future of tokenized assets via such strategic partnerships.
AUTHOR
Umair Younas is a cryptocurrency-related content writer linked with this work since 2019. Here, at Blockchainreporter, he serves as a news and article writer. He is a crypto, blockchain, NFTs, DeFi, and FinTech enthusiast. He has strong command over writing authentic reviews about brokers and exchanges and he has collaborated with our education team to write educational content as well. He has a dream to raise awareness among people about digital currencies. His works are well-researched and brimmed with information hence they provide fresh insights. Stay tuned to his posts if you want to stay up-to-date with the crypto-verse.
Centrifuge enables native RWA issuance on Ozean via regulated U.S. Treasury fund JTRSY. Port combines tokenized T-bills with RWAs for compliant, diversified DeFi yield access. Partnership expands DeFi access to institutional-grade assets without cross-chain fragmentation. Blockchain infrastructure firm Ozean has partnered with Centrifuge to launch regulated real-world assets (RWAs) on Port, an on-chain exchange-traded pool (ETP) developed by Ozean. The effort begins with integrating JTRSY, a U.S. Treasury fund by Anemoy Capital and Janus Henderson, offering daily liquidity access to yield-generating T-bill investments.
🌀 @centrifuge to launch on Ozean to bring high-quality RWAs to Port
The launch starts with JTRSY, a regulated U.S. Treasury fund by @anemoycapital and Janus Henderson, giving users compliant access to stable, yield-generating assets with daily liquidity.
🤝 The partnership… pic.twitter.com/AlLSKiWnYv
— Clearpool (@ClearpoolFin) April 8, 2025 The integration supports compliant user access to stable, tokenized assets and expands opportunities for asset managers to issue RWAs directly on Ozean.
Instead of bridging various interfaces for asset management seen in bridging models, this deployment integrates the Centrifuge infrastructure to issue assets natively on Ozean, making the fund processes and investors’ access more efficient.
JTRSY Launches on Ozean for On-Chain Yield JTRSY, the Janus Henderson Anemoy Treasury Fund Segregated Portfolio, is the first asset made available through this collaboration. It is a fully regulated, actively managed fund that invests in short-term U.S. Treasury Bills. The fund provides daily liquidity and accrues yield directly to the token’s value, giving holders access to stable, low-risk returns.
The fund is already deployed across multiple blockchains, including Ethereum, Base, Celo, Arbitrum, and Fraxtal. With the addition of Ozean, JTRSY becomes accessible on another platform that supports compliant and transparent RWA investments.
Broader Integration of Tokenized Funds Expected Following the initial deployment, the partnership is expected to bring more Centrifuge-enabled funds to Ozean. These future launches will aim to meet various yield preferences across investor profiles, contributing to the broader integration of tokenized finance in decentralized markets.
Port, Ozean’s ETP infrastructure, combines highly liquid assets like tokenized T-bills with traditionally illiquid RWAs. This structure supports instant credibility and dynamic yield generation while also reducing risk exposure through diversified asset pools.
Native Infrastructure for DeFi-Compatible RWAs Ozean, built on the OP Stack and part of the Optimism Superchain, was developed by Clearpool to address inefficiencies in RWA protocols. It aims to simplify access to native yield for DeFi users and solve fragmented RWA solutions across platforms.
Centrifuge tokenization protocol integration into Ozean enables a native solution for asset managers to create and manage funds without the use of cross-chain bridges and other third-party connections. This model is expected to improve institutional and retail participants’ capital efficiency, access, and asset management.
Since its inception in 2017, Centrifuge has facilitated over $682 million in tokenized asset financing. Clearpool, the creator of Ozean, has originated over $750 million in institutional loans. Their partnership shows continued growth in using tokenized real-world assets in decentralized finance infrastructures.
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Peter Mwangi is an accomplished crypto news writer with over three years of experience. He is recognized for producing insightful, well-researched content across major crypto publications. As an expert in blockchain technology, digital assets, and decentralized finance, he can uniquely simplify complex topics into engaging, accessible narratives. His strong storytelling and analytical skills, combined with a passion for continuous learning and collaboration, make him a valuable asset to the BlockchainReporter team.
The partnership, which also includes crypto asset manager Anemoy, aims to streamline the issuance and management of tokenized assets across blockchains.
Centrifuge, a top real-world asset (RWA) tokenization platform, announced a partnership with blockchain interoperability protocol Wormhole to launch a multichain platform that aims to improve how tokenized assets are issued and managed, according to a press release shared with The Defiant.
The collaboration also includes Anemoy, a web3-native asset manager built on Centrifuge. The new platform, Centrifuge V3, lets asset managers and investors handle tokenized assets across different blockchains.
“Wormhole's multichain interoperability platform plays a crucial role in supporting the scalability of Centrifuge V3 by enabling full chain abstraction, allowing seamless fund administration and investment across any blockchain network,” Jeroen Offerijns, the CTO of Centrifuge, told The Defiant.
Offerijns added that by integrating Wormhole, Centrifuge ensures liquidity flows smoothly across different blockchains, while assets can be easily used within both decentralized finance (DeFi) protocols and traditional institutional platforms.
Centrifuge currently boasts a total value locked (TVL) of around $136.6 million and a market capitalization of $5.7 million at press time, according to DeFiLlama data — making it the 15th largest RWA protocol by TVL.
The company has raised a total of $27 million across five funding rounds, raising $15 million in its most recent round, led by ParaFi and Greenfield.
Tackling tokenization challengesA major obstacle to the growth of tokenized assets is the fragmented infrastructure, Offerijns explained. He noted that asset managers often face a mix of tools and vendors, with no standardization, unclear legal structures, and high smart contract risks.
“Managing compliance, fund operations, issuance, and investor servicing onchain is still a daunting challenge,” Offerijns explained. “On top of that, chain fragmentation forces investors to navigate multiple networks, wallets, and interfaces — which adds unnecessary friction and risk to their experience.”
To address these issues, Centrifuge V3 offers customizable tokenization rails using a modular stack of pre-built, audited, and tested smart contracts. “These contracts cover everything from compliance to asset management, issuance, and day-to-day operations,” Offerijns said. “Managers can launch tokenized products quickly and confidently, without needing to build or audit new infrastructure.”
Moreover, all fund data and accounting will be managed on a single chain, offering unified and transparent data, which Offerijns called crucial for institutional reporting and governance, adding:
“Centrifuge V3 also integrates with liquidity providers in the ecosystem to offer instant and near-instant liquidity for tokenized products — addressing another key institutional concern: the ability to exit positions when needed."Jeroen OfferijnsThe future of RWAsTokenized assets are rapidly emerging as one of the fastest-growing sectors in DeFi. According to RWA.xyz, the total onchain value of tokenized RWAs has reached over $20 billion, an 11% increase in just the past month. Additionally, the number of asset holders has grown by almost 6%, bringing the total to 95,455 at press time.
“As the industry matures, we’re seeing a shift from purely crypto-native collateral to tokenized RWAs like U.S. Treasuries, private credit, and real estate — assets that provide stability, yield, and diversification,” Offerijns said, noting that stablecoins are also increasingly backed by RWAs.
He explained that RWA aggregators now function as onchain savings accounts, and lending protocols are facilitating borrowing and lending against these tokenized assets. “But for RWAs to truly power DeFi at scale, they must be accessible, high-quality, and ubiquitous,” Offerijns emphasized.
While Centrifuge V3 is currently building infrastructure that aims to make tokenized RWAs more accessible today, the company’s long-term vision extends beyond just putting funds on-chain.
“We believe blockchain won’t just serve as a distribution layer, it will become the foundation for global capital markets,” Offerijns said. “It will unlock cross-border capital flows, broaden access to investment opportunities, and improve end-to-end processes through automation and operational efficiencies.”
Centrifuge, a prominent DeFi lending platform, has recently commenced a new partnership with Wormhole, a leading interoperability protocol. The collaboration focuses on introducing a multichain tokenization forum that will initially tokenize the $230M Janus Henderson U.S. Treasury Fund of Anemoy. The platform disclosed this partnership on its official X account.
Centrifuge Collaborates with Wormhole to Release Multichain Tokenization Ecosystem The partnership between Centrifuge and Wormhole intends to set an exclusive precedent in the integration of conventional financial instruments into blockchain networks. In this respect, the anticipated platform for the multichain tokenization will start with Anemoy’s Janus Heeenderson. Centrifuge operates as a well-known platform dealing with conventional finance as well as blockchain technology. It has now selected Wormhole to access its multichain infrastructure to run Centrifuge V3.
The integration of Wormhole into Centrifuge pays considerable attention to automating the issuance and tokenization across diverse chains. This will reportedly enable unparalleled and scalable fund management while eliminating barriers in dealing with complexity across chains. The latest Centrifuge V3 provides an inclusive interface to benefit investors and managers. It abstracts away the complications of separate blockchain networks.
Apart from that Centrifuge V3 permits managers to manage and issue funds on diverse chains. Simultaneously, the investors get freedom to reach tokenized assets through their favorite networks. All these functionalities are made possible with the inclusion of the composable and secure multichain interoperability of Wormhole. This also guarantees that the assets seamlessly flow between the L1s and L2s without any need for manual bridging.
Wormhole Foundation’s co-founder Robinson Burkey said that the collaboration lets Centrifuge reach the battle-tested and most resilient multichain infrastructure. This effectively takes tokenized assets to the capital zones.
Catering to Emerging Requirement for Borderless Interoperability Across Chains According to Centrifuge’s CTO, the collaboration develops the foundation for an on-chain financial network without any borders. With this initiative, Centrifuge is reportedly revolutionizing the fund management as well as the investment across the blockchains. To make this happen, Wormhole delivers the required infrastructure. While the institutions are increasingly delving into the RWA sector, the interoperability is getting more and more significant. This collaboration makes Wormhole and Centrifuge the core entities driving the onchain financial advancement.
AUTHOR
Umair Younas is a cryptocurrency-related content writer linked with this work since 2019. Here, at Blockchainreporter, he serves as a news and article writer. He is a crypto, blockchain, NFTs, DeFi, and FinTech enthusiast. He has strong command over writing authentic reviews about brokers and exchanges and he has collaborated with our education team to write educational content as well. He has a dream to raise awareness among people about digital currencies. His works are well-researched and brimmed with information hence they provide fresh insights. Stay tuned to his posts if you want to stay up-to-date with the crypto-verse.
The Centrifuge token surged to its highest level since January ahead of an upcoming token migration and a sharp rise in assets within its ecosystem.
Centrifuge (CFG) jumped to a high of $0.2850 on Friday, up 180% from its lowest point this year. The surge pushed its market capitalization to over $106 million.
The rally comes ahead of the scheduled migration of the Centrifuge governance token to Ethereum (ETH) on May 20. This marks a major milestone as the network moves toward full Ethereum Virtual Machine compatibility.
The migration is expected to pave the way for the launch of an Ethereum-native Centrifuge Protocol.
The developers hope that the transition from Polkadot (DOT) to Ethereum and Base will improve its governance, broaden exchange and decentralized finance integration, and streamline liquidity.
As part of the migration, the supply of CFG will increase from the current 560.246 million to 675 million. The additional 115 million tokens will be allocated to the Centrifuge Foundation to fund incentives targeted at decentralized finance users, strategic initiatives, and exchange liquidity. The protocol will maintain its 3% annual inflation rate.
The next chapter for $CFG is here.
Starting May 20, 2025, holders of CFG and wCFG will be able to migrate to the new CFG token, designed to support governance and expansion of the Centrifuge protocol.
The migration window will remain open until November 30, 2025.
More details…
— Centrifuge (@centrifuge) May 12, 2025 The token also rallied as the total value locked in Centrifuge’s ecosystem rose to a record $441 million, up from less than $100,000 in March. Most of this capital is in the Janus Henderson Anemoy Treasury Fund, which invests in short-term U.S. Treasury bills.
Centrifuge price analysis CFG price chart | Source: TradingView On the daily chart, CFG climbed to $0.2735 on Friday as anticipation over the token migration intensified. The level is significant, as it coincides with the lowest swing point from October last year.
The MACD indicator has recently crossed above the zero line, and the Relative Strength Index has entered overbought territory.
Given this setup, the token is likely to continue its climb, potentially reaching resistance around $0.50 ahead of the migration. A pullback may follow the event as investors take profits in a classic “sell the news” scenario.
What is Centrifuge? Centrifuge is a crypto financial alchemist, turning real-world assets into digital gold. It tokenizes invoices, real estate, and treasuries, letting businesses tap into DeFi liquidity without banks.
Built on Polkadot, its Tinlake DApp makes borrowing seamless. Centrifuge has a clear mission: bridging real and digital economies.
Why is it pumping right now? Although done months ago, a more than 50% pump in 24 hours might have come from a $230M Janus Henderson fund and a V3 upgrade, which shows institutional love for Centrifuge CFG $0.2294 1.13% . It was also recently awarded the Spark’s $1B Tokenization Grand Prix, which added to its credibility.
RWA vibes help, too, with coins like Ondo ONDO $0.3445 3.84% making a 10-20% gain this month. It’s not just hype; RWA is in demand.
DISCOVER: Next 1000X Crypto: 10+ Crypto Tokens That Can Hit 1000x
Is Centrifuge Crypto Going to be The Next Big RWA? Centrifuge has an NFT-based tokenization, unlike other RWA coins, where assets become unique digital tokens, offering something others lack. Tinlake’s dual-token system (DROP for stability, TIN for risk-takers) mimics traditional finance, balancing safety and reward.
While competitors focus on wider choices of asset classes, Centrifuge focuses on small—and medium-sized enterprise finance, aiding smaller players.
💥 @Centrifuge and Wormhole launch multichain asset tokenization platform, starting with Anemoy’s $230M Janus Henderson Treasury Fund
Interoperability powered exclusively by Wormhole pic.twitter.com/ogW23q1P4C
— Wormhole (@wormhole) April 9, 2025
Although some say Centrifuge is a copycat of other big RWA projects, the crypto chatters don’t hold water. Centrifuge predates many RWA projects; it was launched in 2017 in Polkadot. Hence, it is not popular and rarely heard in the EVM-dominated market.
But this just got exciting. Just last month, its multichain V3 platform integrated EVM chains, which helped its ecosystem, especially with adoption. Partnerships with MakerDAO and Aave, plus a focus on transparency via on-chain data, also contribute to this pump.
Centrifuge crypto edge lies in execution. Its launchpad speeds up asset tokenization with modular contracts. Collaborations with Ozean and Yala bring US Treasuries and Bitcoin yields on-chain, again helping adoption.
(source)
With $440 million in total value locked at just $128 million of market cap, it suggests the protocol holds more value than its market valuation.
Right now, maybe, the market is betting on Centrifuge to redefine crypto finance, and the numbers agree.
DISCOVER: The 12+ Hottest Crypto Presales to Buy Right Now
Don’t Put All Eggs in One Basket: AI is Also The Narratives This Cycle
Besides RWA, AI coins are also making their voice heard. Coins like FET and NEAR printed millionaires during this cycle. But, it might be a year too late to catch such an opportunity with those big AI coins.
With AI narrative vibing, Mind of Pepe, still at its early presale phase, comes with its meme narrative to speed up the AI adoption pace.
What does it do, and why does it matter? MIND, with its self-evolving AI agent, helps traders decide which crypto coins to invest in based on many factors, finding the next big coins for hundreds of X gains.
Mind of Pepe is also coded with token-burning mechanisms that can shock its supply, boosting its price in the mid- to long term.
Presalers can also earn additional staking bonuses, with dynamic 242% APY rewards, just by holding and staking for passive income.
Many YouTube influencers forecast 20- 100X on MIND shortly after its exchange listing, which will come straight after the presale ends.
At its current price of $0.0037, early investors can buy their tokens at a bargain. At the moment, close to $10 million of smart money has been invested in $MIND, and the presale supply might run out fast.
For more information, visit the MIND of Pepe website or follow the MIND of Pepe on X or Telegram.
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Key Takeaways What is Centrifuge crypto, and why is it pumping? This AI coin is poised for 10- 100X. #Presales #Meme Coin #RWA
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ONDO is one of the RWA tokens attracting huge attention. Whale activity spikes amid tokenization spree. Data shows whales are buying tokens such as Polymesh, Pendle and TokenFi. Ondo Finance has surged into the top 100 cryptocurrencies by market cap amid upside momentum for its native token ONDO.
On Monday, March 25, the price of ONDO rose to a new all-time high of $0.9702. Intraday gains at the time of writing was 15%, while Ondo Finance has surged more than 88% this past week and over 116% in the last 30 days.
ONDO price hovered around $0.8997 at the time of writing.
ONDO surges amid whale activity The real-world-assets (RWAs) space is one of the hottest crypto segments today, with multiple projects in the sector rallying amid unprecedented surge in interest and investment.
Whales or large investors have aggressively looked to add to their positions in RWA related coins.
Ondo Finance’s growth in the RWA ecosystem has seen large investors take notice. Data shared by Lookonchain shows large withdrawals of ONDO from exchanges. This includes 6.53 million ONDO from Bybit last month and 2.9 million ONDO from Gateio earlier today
Ondo Finance announced the launch of Ondo Global Markets in February. The mission is to bring publicly-traded securities on-chain, offering native access to traditional securities.
Meanwhile, the price of Ondo recently jumped by more than 40% as the market reacted to news around BlackRock’s USD Institutional Digital Liquidity Fund.
Other than ONDO, other tokens witnessing huge attention across the space are Centrifuge, Polymesh, Pendle and TokenFi. Polymesh’s price has jumped 87% this past week, while TokenFi’s price has jumped 160%.
According to data from CoinGecko, the RWA market cap has increased by more than 17% in the past 24 hours to over $6.6 billion. The 24-hour trading volume for the sector is over $1.16 billion.
