THORSday Community Podcast #235 ft. CBarraford, KentonC137 & patriotsounds | September 17, 2026 | Watch the full episode on YouTube
By Raynalytics
TL;DRTHORChain's stability sprint has ended. The team has resumed normal operations, with an oversolvency sweep, affiliate-fee experiments, and new chain launches back on the near-term agenda.Zcash is next in line for mainnet, with Monero planned as a fast follow. The team stressed that timing remains conditional, and that $XMR will begin with a deliberately cautious soft launch.Dynamic fees for Symbiosis, a proposed SwapKit rev-share test, and a privacy-routing integration from Houdini Swap are all intended to test whether more protocol revenue can fund operations without a larger Dev Fund.Chad's priority is not adding headcount. It is reaching a point where protocol revenue reliably pays for maintenance, security, and development without depending on treasury support or token inflation.1. The Stability Sprint Is OverThe episode opened with the clearest operational update in weeks: the developer teams agreed to end the stability sprint and return to normal operations. That does not mean the recent work has been forgotten. The point of the sprint was to make the protocol more consistent after the exploit-related disruption, and Chad said the current churn was moving funds after a keygen that succeeded quickly.
Chad Barraford described the next immediate action as enabling the oversolvency sweeper, which will move assets from over-solvent pools into the treasury. He also separated protocol work from external-chain issues, noting that a new Solana transaction type and Gaia nodes falling behind their chain tip had created recent interruptions outside THORChain's core code.
"The sprint is over. We're back to normal operation." (Chad)The practical meaning is a return to shipping, but with the stability work informing the pace. The team still wants predictable churns, reliable external-chain observation, and a safer base before treating the next rollout as business as usual.
2. Zcash First, Then a Careful $XMR LaunchThe immediate chain-client sequence is Zcash first, then Monero. Chad said the ordering reflects the existing queue rather than a technical rule. Either chain could technically go first, or both could launch together, but the working plan was to finish Zcash and then focus on $XMR.
That is a meaningful change from the earlier stability-first posture, not a promised date. Chad said the $XMR code is already in place, but enabling it requires coordination from node operators. Kenton added that the team expects to give roughly three days' notice before asking nodes to apply the change that enables $XMR by default, ideally just after a churn so operators have the maximum window before the next one.
"We want to do a soft launch. It's technically live, but ... don't trade in size." (Kenton)The proposed soft launch is important context. The goal is to create awareness and invite early use without presenting a new chain client as fully seasoned on day one. The team expects a ramp period of several weeks, even if the integration reaches mainnet on schedule.
For background on why the rollout was delayed, see THORChain Prioritizes Stability Before Monero and New Features.
3. More Revenue Tests Are Back on the TableSeveral experiments paused by the sprint are now moving again. Chad said the dynamic-fee model was due to be re-enabled for Symbiosis after the aggregator resolved a routing issue. He also named Gem Wallet and Edge Wallet as potential next participants, while a rev-share experiment for SwapKit was targeted for the following week, subject to operational readiness.
These are distinct levers. Dynamic fees aim to find a partner- and pair-specific fee floor that protects price-sensitive flow without giving away revenue from users who would route through THORChain anyway. Rev-share would let an approved affiliate share in some protocol liquidity fees. The test matters more than the announced date because it will show whether the mechanism works with real routed volume.
Kenton also outlined the intended integration of Houdini Swap into THORChain Swap: a private-swap option first, followed by a private-send option once it is ready. He described it as a new revenue opportunity, but the discussion kept the status clear. It was planned, not live at the time of the episode.
"We'll flip it on, give it a few weeks, and see what happens." (Chad)The team has reasons to be interested without treating them as results. Chad cited Symbiosis's reported $300 million to $500 million in trailing-30-day trade volume as flow THORChain would like to win a greater share of. Kenton said Houdini's own partner data suggested a potentially meaningful contribution to treasury income. Both are hypotheses to test, not guaranteed revenue.
4. Self-Sufficiency Comes Before a Bigger Dev FundThe longest strategic discussion was not about a new feature. It was about what success should look like after those features begin producing revenue. Chad said THORChain was operating at a monthly shortfall of roughly $100,000 to $200,000, covered by the treasury. Increasing the Dev Fund from 5% to 10% would reduce that reliance, but he did not see it as a reason to immediately hire more developers.
Instead, the stated objective is for protocol revenue to cover the people and services that keep THORChain operating. In that model, an oversolvency sweep, new integration revenue, and higher organic swap activity would first reduce the treasury's operating burden. Only then would the community face a stronger question about whether to spend the surplus on a larger team, reserves, or other priorities.
"I'd rather have the money become less reliant on the treasury than go ahead and hire one or two or three more devs." (Chad)That framing also explains the team's caution on hiring. Chad said developers are already finding ways to become more productive with AI tools, while the treasury is being managed for longevity rather than the spending profile of a venture-backed startup. A larger team remains possible, but only if the economics support it without recreating the dependency the protocol is trying to leave behind.
5. More Capacity Does Not Mean Every Idea Ships NowReturning to normal operations does not mean every queued idea has the same priority. Chad described separate groups working on maintenance, new chains and features, and continuous security work. That lets the security team continue an audit and work on initiatives such as DKLS and FROST while other developers focus on integrations and day-to-day protocol reliability.
Some ideas remain intentionally deferred. An opt-in chain-client model could eventually let smaller chains be validated by a subset of nodes, making it easier to support assets that cannot justify the full validator set. Chad said the concept was actively explored, but paused in favor of higher-value work such as Zcash, $XMR, $TAO, dynamic fees, and rev-share. He did not expect it to return this year.
The same discipline applies to chain removal. When the group asked whether Gaia should be removed, Chad's answer was economic rather than ideological: a chain that brings useful volume and revenue has a reason to remain. In the future, opt-in validation could allow participation to decline naturally rather than forcing every chain question into an all-or-nothing governance decision.
"We shouldn't Ragnarok any chain when that chain is profitable." (Chad)What to WatchWhether Zcash reaches mainnet cleanly, and whether the team announces the $XMR node-change window that precedes its cautious soft launch.The live results from Symbiosis dynamic fees, the proposed SwapKit rev-share test, and the planned Houdini integration.Whether new revenue sources and the oversolvency sweep reduce the treasury's operating burden before any Dev Fund change is considered.Whether the resumed churn continues to bring standby node operators into the active set without recreating the instability that prompted the sprint.More THORChain data, check out raynalytics.net
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Binance podpoří sloučení Stargate Finance (STG) do LayerZero (ZRO) v poměru 1 STG = 0,08634 ZRO. STG spot páry a vklady/výběry budou postupně ukončeny.
This is a general announcement and marketing communication. Products and services referred to here may not be available in your region. Fellow Binancians, Binance will support the Stargate Finance (STG) token merge to LayerZero (ZRO). General TradingAt 2026-10-06 03:00 (UTC), Binance will remove all existing STG spot trading pairs (i.e., STG/USDT) and cancel all pending STG spot trading orders.Trading on existing ZRO spot trading pairs will not be affected.Deposits and WithdrawalsAt 2026-10-06 03:30 (UTC), deposits and withdrawals of STG tokens will be suspended. Users should ensure they leave sufficient time for their STG token deposits to be fully processed prior to this time. After the event is complete, deposits and withdrawals of STG tokens will no longer be supported.Binance will handle all technical requirements for users who are involved in this event.Users may refer to the announcement from the project team for more information. Token Merge All STG tokens will be swapped to ZRO at a ratio of 1 STG = 0.08634 ZRO. Spot At 2026-10-05 03:00 (UTC),Binance Spot Copy Trading will remove the aforementioned spot trading pairs. After this time, any outstanding spot trading pairs will be moved to the Spot Account. Users are strongly advised to update or cancel their Spot Copy Trading portfolios prior to this time to avoid potential losses.At 2026-10-06 03:00 (UTC), Binance will remove and cease trading on all spot trading pair(s) for STG. The exact trading pair being removed is STG/USDT. All trade orders will be automatically removed after trading ceases in each respective trading pair.Binance will remove Trading Bots services for the aforementioned spot trading pair(s) where applicable. Users are strongly advised to update and/or cancel their Trading Bots prior to the cessation of Trading Bots services to avoid any potential losses.Trading on existing ZRO spot trading pairs will not be affected. Futures Starting from 2026-09-24 08:30 (UTC), users are not allowed to open new positions for the aforementioned contract(s). At 2026-09-24 09:00 (UTC),Binance Futures will close all positions and conduct an automatic settlement on the aforementioned contract(s). The aforementioned contract(s) will be removed after the settlement is complete. Users are advised to close any open positions prior to the settlement time to avoid automatic settlement. Binance Funding Rate Arbitrage Bot will close all arbitrage strategies and conduct an automatic settlement on the STGUSDT symbol(s).During the final hour proceeding the scheduled settlement time of a futures contract, the Futures Insurance Fund will not be utilised to support the liquidation process in respect of that futures contract. Any such liquidation triggered during the final hour will be executed as a single Immediate or Cancel order (“IOCO”), which will be offloaded into the market in one attempt. If, following the execution of the IOCO, the assets remaining available in the user's account are sufficient to meet the required Maintenance Margin (after accounting for realized losses and any applicable Liquidation Clearance Fee), the liquidation will cease. If the IOCO fails to fully reduce the position to a level that satisfies the Margin Maintenance requirements, any unfilled portion of the position will be resolved through the Auto-Deleveraging (ADL) process. Users are strongly advised to actively monitor and manage open positions during the final hour, as this period may be subject to heightened volatility and reduced liquidity.In order to protect users and prevent potential risks in extremely volatile market conditions, Binance Futures may undertake additional protective measures toward the aforementioned contract(s) without further announcements, including but not limited to adjusting the maximum leverage value, position value, and maintenance margin in each margin tier, updating funding rates, such as the interest rate, premium and capped funding rate, changing the constituents of the price index, and using the Last Price Protected mechanism to update the Mark Price. A separate announcement will be made for relisting. Margin At 2026-09-19 06:00 (UTC),Binance Margin will suspend Cross Margin and Isolated Margin borrowings on the aforementioned pair(s).At 2026-09-24 10:00 (UTC) (Margin Delisting Time),Binance Margin will remove STG from Cross and Isolated Margin. The STG/USDT Cross Margin pair, and STG/USDT Isolated Margin pair will be removed from Margin. Effective immediately, users will no longer be able to transfer any amount of the aforementioned token(s) via manual transfers and Auto-Transfer Mode for Cross and Isolated Margin into their Margin Accounts. If users hold outstanding liabilities of said token(s), these users may only manually transfer up to the amount of liabilities of that token(s) into their Margin Accounts, less any collateral already available.Binance Margin will close users’ positions, conduct an automatic settlement, and cancel all pending orders on the aforementioned Isolated Margin pair(s), which will then be removed from Isolated Margin.If users hold both collateral and liabilities of the aforementioned token(s) on Cross Margin, the collateral will be used to repay the respective liabilities. If there are remaining collateral or liabilities of the aforementioned token(s), one of two options below will occur:If users only hold the aforementioned token(s) in the form of collateral: The aforementioned tokens(s) will be sold to USDT or USDC, and the proceeds will be added to the user's Margin balance accordingly. Binance is not liable for any losses incurred.If users only hold the aforementioned token(s) in the form of liabilities: All pending orders in their Cross Margin Accounts will be canceled. The system will then sell other collateral tokens to buy and fully repay the delisting token(s)’ liabilities.Please note that users will not be able to update their positions during the removal process, which may take approximately 3 hours. Users are strongly advised to close their positions and/or transfer their assets from Margin Accounts to Spot Accounts prior to the cessation of margin trading at Margin Delisting Time. Binance will not be responsible for any potential losses.Portfolio Margin users are advised to transfer the aforementioned token(s) out of their Margin Accounts to their Spot Accounts and to top up their margin balances before Margin Delisting Time where applicable. Users should monitor the Unified Maintenance Margin Ratio (uniMMR) closely to avoid any potential liquidation that may result from the removal of the aforementioned token(s) from the Margin Account. All STG balances in the Cross Margin Account under the Portfolio Margin Account will be automatically converted to USDT or USDC from Margin Delisting Time. The conversion may take approximately 24 hours or longer. Binance Margin will not be liable for any losses on new positions during this period that may incur due to the conversion of funds. Refer to this FAQ for more information. A separate announcement will be made for relisting. Loans At 2026-09-28 03:00 (UTC), Binance Loans (Flexible Rates) and VIP Loan will close all outstanding loan positions for STG (both loanable tokens and collateral tokens will be closed). Users are strongly advised to repay their outstanding STG loans before this time to avoid any potential losses. Please refer to the Binance Loans (Flexible Rates) and VIP Loan FAQs for more information. More details are also available in the Binance Loans and VIP Loan Terms and Conditions. Simple Earn From 2026-09-30 07:00 (UTC), Binance Simple Earn will cease support for STG Simple Earn Flexible Products. Subscriptions will no longer be available. All remaining STG Flexible Products positions, together with any accrued rewards, will be automatically redeemed to users’ Spot Accounts. Users can choose to redeem their assets from STG Simple Earn Flexible anytime beforehand without deduction of any accrued rewards. After 2026-10-09 08:00 (UTC), Binance Simple Earn will resubscribe the converted ZRO assets for Flexible Products for impacted users. Binance Pay At 2026-09-29 07:00 (UTC), Binance will remove STG from the list of supported cryptocurrencies on Binance Pay. Convert Binance Convert will remove STG and all associated pairs at 2026-10-06 02:00 (UTC). Convert Low-Value Assets Convert Low-Value Assets will remove STG at 2026-10-05 02:00 (UTC). Users may choose to convert the low-value assets beforehand. Buy & Sell Crypto At 2026-10-06 02:00 (UTC), Buy & Sell Crypto will remove STG and all associated pairs. Note: There may be discrepancies between this original content in English and any translated versions. Please refer to the original English version for the most accurate information, in case any discrepancies arise. Thank you for your support! Binance Team 2026-09-18 Disclaimers: USDC is an e-money token issued by Circle Internet Financial Europe SAS (https://www.circle.com/). USDC’s whitepaper is available here. You may contact Circle using the following contact information: +33(1)59000130 and [email protected]. Holders of USDC have a legal claim against Circle SAS as the EU issuer of USDC. These holders are entitled to request redemption of their USDC from Circle SAS. Such redemption will be made at any time and at par value.
Arbitrum (ARB) has recorded a notable surge, climbing to $0.1814 and posting a 7.85% gain over the past 24 hours. This move followed a bounce from a key support area, prompting traders to assess whether ARB can sustain its upward momentum.
Technical strength supports Arbitrum’s rallyTechnical indicators on TradingView have highlighted Arbitrum’s resilience, with the token holding firmly above the $0.1525 support after a marked breakout earlier this month. The price action remains robust, especially above the 50-day moving average at $0.1020 and the 200-day moving average at $0.1065, which signals ongoing bullish momentum within the current trend.
Key momentum metrics, including the Moving Average Convergence Divergence (MACD), continue to favor buyers. A positive MACD with the main line above the signal line suggests bullish momentum has not been exhausted, even as ARB consolidates its gains.
If ARB pushes higher from its current levels, traders may focus on the next major resistance areas. However, a pullback below $0.1525 could potentially undermine the current bullish structure that has been established.
Analysis of technical indicators shows that Arbitrum continues to trade above its major moving averages, reinforcing current bullish sentiment among traders.
Stabletrust Pay launches on Arbitrum One via FairblockIn a recent network development, Arbitrum announced the integration of Stabletrust Pay on Arbitrum One through Fairblock. This update enables users to send, receive, and manage their stablecoins with enhanced privacy by leveraging encrypted transaction features.
Arbitrum is a layer-2 solution designed to enhance the scalability of Ethereum by offering faster and cheaper transactions while retaining the security of the underlying chain.
Data from DeFiLlama indicates that Arbitrum’s total value locked (TVL) remains stable at approximately $1.35 billion. Despite market fluctuation in recent weeks, the amount of capital within the network has stayed relatively constant. At the same time, the number of active addresses and on-chain transactions has shown ongoing consistency, supporting the view that the user base is resilient.
Traders often interpret steady TVL as a sign of persistent liquidity within an ecosystem, as opposed to funds moving to alternative networks or protocols.
Mini dictionary: Fairblock is a privacy infrastructure protocol focused on enabling confidential and encrypted transactions in decentralized networks. Its integration allows wallets and dApps to offer private transfers and on-chain privacy features for end users.
Open interest and trading volumes rise across ARB derivativesSpeculative interest in ARB has intensified, according to data from CoinGlass. Open interest for ARB derivatives jumped from about $95 million in late August to over $220 million in September. This expansion signals that more capital is flowing into ARB’s derivatives market, reflecting heightened activity and trader enthusiasm.
Arbitrum’s trading volume exceeded $1 billion multiple times this month, further highlighting elevated network activity. Additionally, liquidation data points to a spike in short liquidations during ARB’s recent upward move, suggesting many traders who held bearish positions were forced to exit as prices advanced.
DateARB Open InterestTrading VolumeLate August$95 millionBelow $1 billionSeptember$220 millionExceeds $1 billion on several occasionsOngoing ecosystem developments and feature launches have intensified overall market attention on ARB, with both on-chain activity and trader engagement trending upward.
Recent liquidations of short positions during ARB’s rally point to increasing trader interest as the ecosystem evolves, with boosted open interest and substantial capital entering the market.
SEC udělila dočasnou výjimku pro tokenizované americké akcie, což vyhnalo UNI, ARB, RAY a NEAR mezi největší růstové tituly dneška. Uniswap a Arbitrum jsou podle trhu nejblíž toku onchain akcií.
Arbitrum, Uniswap and NEAR top today’s gainers board. A fresh SEC exemption for tokenized stocks is powering the DeFi bid. Uniswap and Arbitrum sit closest to the onchain-equities flow. All five leaders trade in overbought territory on short timeframes. The five biggest gainers in the market today are decentralized exchange and Layer-2 tokens, not the usual large-cap majors, and they are moving together for a reason. Arbitrum (ARB) leads on a 24-hour basis at $0.2145, up 30.26%, followed by Uniswap (UNI) at $8.73 and NEAR Protocol (NEAR) at $3.47, with Raydium (RAY) and Aptos (APT) rounding out the group. The common thread behind most of the board is a regulatory decision made the day before: on September 17 the US Securities and Exchange Commission granted a temporary exemption that lets tokenized US stocks trade through permissioned automated market makers, the exact plumbing these protocols operate.
1
Arbitrum ARB
Market cap $1.45B
$0.2145
24h +30.26%
7d +47.83%
2
Uniswap UNI
Market cap $5.42B
$8.73
24h +27.98%
7d +42.91%
3
NEAR Protocol NEAR
Market cap $4.53B
$3.47
24h +27.14%
7d +38.04%
4
Raydium RAY
Market cap $458.57M
$1.70
24h +16.90%
7d +4.68%
5
Aptos APT
Market cap $577.94M
$0.6639
24h +16.23%
7d +3.80%
Why the SEC’s tokenized-stock order sits behind the board The SEC’s “Innovation Exemption” releases so-called Tokenized Securities Venues from the definition of an exchange under the Securities Exchange Act of 1934, and it does so for five years on a temporary, conditional basis. In plain terms, a venue can now bring buyers and sellers of tokenized US stocks together through permissioned AMMs and liquidity pools without first registering as a national securities exchange. The relief is narrow by design. It covers real, 1:1 backed shares that carry full shareholder rights such as dividends and voting, and it explicitly leaves out the synthetic stock tokens that have driven much of the recent onchain equity trade. The order also requires the smart contracts involved to be auditable and deployed on a public, permissionless chain, which rules out private bank networks and quietly favors the public DeFi venues already running this infrastructure.
Permissioned pools are the mechanism that makes the exemption workable. Rather than gating access at a website or through an offchain check, the pool itself verifies whether a wallet has been approved by the asset issuer before a swap or a liquidity deposit clears. The issuer keeps the allowlist and the compliance controls that securities law demands, while the approved trader gets standard AMM liquidity. That single piece of engineering is why the market treated a regulatory notice as a direct catalyst for specific token prices instead of a distant policy headline.
Uniswap already built the venue the exemption describes UNI/USDT 4-hour chart, Binance via TradingView. Price near $8.70 with RSI at 84, well into overbought territory. Uniswap is the clearest beneficiary because it already shipped the product the SEC’s language points to. Its Permissioned Pools framework, built as a Uniswap v4 hook and launched in July, lets regulated assets tap AMM liquidity while the issuer enforces eligibility on every trade. Launch partners included tokenization firms Securitize and Superstate, and Superstate has since confirmed it is routing tokenized equities onchain through that hook. The protocol has also become the default liquidity engine for Robinhood’s Stock Tokens, handling close to 99% of tokenized-stock liquidity on Robinhood Chain and passing $10 billion in cumulative stock-token volume.
80% of all Robinhood Stock Token volume is traded on Uniswap
That translates to $10B (and counting) pic.twitter.com/AUL7kTjBAq
— Uniswap (@Uniswap) September 18, 2026
UNI trades at $8.73, up 27.98% on the day and 42.91% over the week, a move that lines up with the market pricing Uniswap as the toll booth for onchain equities rather than as a generic DeFi token.
Arbitrum runs underneath Robinhood’s stock-token chain ARB/USDT 4h, Binance via TradingView. Reversed from a high near $0.229. Arbitrum tops the 24-hour board at $0.2145 and leads the group over seven days with a 47.83% gain, and its position in the tokenized-stock stack explains the strength. Robinhood Chain, the network where most of that stock-token volume settles, runs on Arbitrum Orbit technology, making it an Ethereum Layer-2 built on Arbitrum’s stack. Every dollar of tokenized-equity flow that benefits Uniswap is also flowing across Arbitrum’s infrastructure. Traders who bought the Uniswap thesis extended it one layer down. Worth noting for anyone chasing the candle: ARB had already printed a sharp intraday reversal, with the latest four-hour candle down 6.41% from a local high near $0.229, a reminder of how fast these repricings run in both directions.
Raydium carries the same trade onto Solana RAY/USDT 4h, Binance via TradingView. The freshest, least extended move. Raydium carries the Solana side of the story. As the network’s leading AMM, it stands to absorb tokenized-equity flow that the exemption opens up on public, permissionless chains, and that pipeline is already forming. Backpack’s tokenized stocks now route through Raydium, StonkFun has moved all new launches to Raydium’s LaunchLab, and the protocol reported its largest buyback to date, roughly $640,000 on September 9, funded by 12% of trading fees. RAY sits at $1.70, up 16.90% on the day. Its weekly gain of 4.68% is far smaller than the leaders’ double-digit weekly runs, which marks this as a fresher breakout rather than the tail end of a week-long trend.
NEAR and Aptos moved on catalysts unrelated to stocks NEAR/USDT 4h, Binance via TradingView. RSI 86, the most stretched of the group. Not every name on the board is a tokenized-stock play. NEAR rose 27.14% to $3.47 on a separate development: the launch of confidential perpetual futures on near.com, with execution running on Hyperliquid. The setup lets traders access more than 50 perpetual markets at up to 40x leverage while NEAR Intents handles the funding route and works to keep a deposit from being publicly linked to a wallet. The positions themselves stay visible at the market level, so this is confidential funding and wallet attribution rather than fully private trading. The protocol also reported confidential total value locked reaching $70 million and took a snapshot for a milestone incentive program, both of which fed the bid.
near.com MILESTONE: Confidential TVL has reached $70 million.
The snapshot for the [email protected] milestone incentive program has been taken. pic.twitter.com/ER1fYaQCxS
— NEAR Protocol (@NEARProtocol) September 15, 2026
Aptos, up 16.23% to $0.6639, moved on tokenomics instead of a product launch. The network burns APT on every transaction, and it reported 159.6K APT burned over the past 30 days and 1.8 million burned since mainnet, with an average transaction fee of $0.0005 following a tenfold fee increase and an annualized burn rate near 1.9 million APT. Against a market already bidding altcoins, a clean deflation narrative was enough to trigger a sharp single-candle reclaim of its major moving averages.
APT/USDT 4h, Binance via TradingView. Reclaimed all three averages in one candle. RSI above 80 on two of the five names Reading the charts is where caution enters. On the four-hour timeframe every token in this group trades above its 20, 50 and 200-period moving averages, which is the technical signature of an uptrend across short, medium and longer windows. The catch is momentum. The relative strength index, which measures how quickly price has risen relative to its recent range, is stretched well into overbought territory across the board, and readings above 70 typically signal a move that is due for a pause or a pullback rather than one with fresh room to run.
Four-hour RSI, with the 70 overbought line marked
NEAR
RSI 86.34
UNI
RSI 84.75
ARB
RSI 74.52
APT
RSI 74.00
RAY
RSI 73.66
The dark line at 70 is the overbought threshold. Every bar clears it, and NEAR and UNI push past 84, the sign of a move that has run fast and may need to cool before it continues.
Why the exemption’s fine print decides who keeps the gains The open question is whether trading volume actually follows the regulation. The SEC framed the exemption as a testbed, and it asked for public data and comment before deciding on permanent rules, which means the framework can still tighten. Several conditions cap its reach today. It applies only to genuine 1:1 backed stocks and not to the synthetic products that dominate current onchain equity trading, it carries limits on the number of tradeable symbols and aggregate volume, and Robinhood’s Stock Tokens remain off-limits to US persons, so the largest retail audience for these assets is still fenced out. The tokens that hold their gains will likely be the ones where issuers actually deploy under the exemption and route real order flow, rather than the ones that simply share a sector with the headline. For traders, the split the SEC drew between real tokenized shares and synthetics is the line to watch, because it may quietly decide which venues inherit the next wave of listings and which get left with the memecoin-stock pairs that seeded this market in the first place.
Alex is a financial markets journalist and co-founder of Millennial Media Group, and he's spent close to ten years trying to answer one stubborn question: what's really driving this? It started in 2016, when Bitcoin refused to make sense to him - and rather than shrug, he stayed with it until it did. That patience became his method. He's less interested in what an asset is doing today than in the plumbing behind it: how liquidity flows, where risk hides, what a chart is quietly telling you that the headline isn't. That lens eventually stretched well past crypto into traditional markets, because the same forces - fear, leverage, incentives, timing - show up everywhere once you know how to look. Most coverage, in his view, insults the reader by stopping at the surface. Price up, price down, moving on. He'd rather leave someone genuinely understanding a move than merely informed that it happened. His path into markets ran through a Tourism degree at New Bulgarian University - proof, maybe, that curiosity beats credentials. With more than 200 deep analyses and over 10,000 articles behind him, he still walks away from most trading days having learned something he didn't know that morning.
World spustil World Money ve více než 150 zemích a v USA přes Stripe umožňuje dobíjení z Apple Pay na stablecoiny během minut. Aplikace spojuje platby, obchodování i Earn programy.
World has begun rolling out World Money across more than 150 countries on Sept. 17, combining stablecoin balances, global transfers, digital asset trading, Morpho-powered Earn programs and virtual accounts inside a self-custody financial app.
Summary
World Money is rolling out across more than 150 countries, with features varying by jurisdiction. Stripe powers the U.S. Apple Pay funding flow, converting supported funds into stablecoins within minutes. Morpho powers Earn programs for WLD, USDC, wrapped Ether, and wrapped Bitcoin in selected markets. Bridge converts U.S. virtual account deposits into USDC, while Lead Bank issues account details directly. World ID verification unlocks promotional Earn boosts, but rates and principal remain unguaranteed for users. World said features and eligibility vary by country, meaning the 150-plus-country footprint does not represent uniform access to every payment, trading, virtual-account or Earn function. The company describes World Money as the financial counterpart to World ID, with existing World users able to carry their verification status into the new app.
World Money combines payments, stablecoins and investing World Money supports stablecoin balances tied to eight currencies, according to the launch announcement. Users can hold supported dollar and local-currency stablecoins, track their portfolios, view transaction histories, set price alerts and send supported digital assets to other users by World username.
JUST IN: NEW: World launches World Money, a self-custodial financial super app across more than 150 countries.
The app combines stablecoins, cross-border payments, yield products and Mini Apps from platforms such as Kalshi and Morpho, while Bridge-powered virtual accounts let… pic.twitter.com/kDRqMjiXOe
— crypto.news (@cryptodotnews) September 17, 2026 The company says transfers between World Money users are typically completed within seconds, though timing can depend on the payment method and destination. Its product page warns that asset availability varies by country and that stablecoins held in the app are digital assets, not insured bank deposits.
Local stablecoins run on World Chain and can be exchanged inside the app where supported. World’s updated support documentation uses wARS, which tracks the Argentine peso, as one example. Users can obtain supported local stablecoins by swapping another asset such as USDC, while access to fiat bank transfers depends on local payment providers.
The Trade section covers digital assets including WLD, wrapped Bitcoin and wrapped Ether, while World says selected real-world assets such as gold can be accessed through third-party trading services. The full token list can change, and World directs users to the app for the current assets available in their jurisdiction.
World Money arrives after the project had already expanded the finance functions of its earlier World App. In earlier coverage of World App’s financial expansion, crypto.news reported that World had added virtual accounts, stablecoin transfers and an Earn product while increasing the number of assets accessible through the wallet.
Native USDC had already become part of that infrastructure. As previously reported on World Chain’s USDC integration, Circle replaced bridged USDC in World wallets with native USDC and brought its Cross-Chain Transfer Protocol to World Chain.
Stripe starts World Money funding in the U.S. The new release gives Stripe a direct role in funding World Money accounts. Beginning in the U.S., users can add money from Apple Pay and convert it into stablecoins through a funding flow embedded in the app.
World states that stablecoins funded through the Stripe flow will typically arrive within minutes. Stripe is described as the default way to add funds through the redesigned U.S. experience, though World did not publish a fixed processing time, fee schedule or date for extending the same setup to every country.
The arrangement builds on infrastructure World already uses from Bridge, which Stripe acquired. World introduced personal virtual accounts in 2025 for receiving bank transfers and paychecks, with supported deposits converted into digital assets inside users’ self-custody wallets.
Updated World support material gives more detail on how that setup operates. For U.S. dollar virtual accounts, Lead Bank issues the account and routing details, while Bridge converts incoming dollars into USDC before depositing the stablecoin into the user’s World Wallet on World Chain.
USD virtual accounts can accept employer and paycheck deposits where available. World separately offers Ripio-powered virtual accounts in Argentina, Colombia and Mexico, where local payment rails handle deposits and withdrawals. Those accounts do not share every function of the U.S. version; World says paycheck deposits are not supported through its Ripio virtual accounts.
World previously said its Bridge-powered virtual account service had expanded beyond its initial U.S. pilot into markets including Singapore, South Korea and Taiwan. The company reported nearly 38 million World App users and more than 850 million processed transactions when it announced that expansion in December 2025.
Morpho powers Earn while returns remain variable World Money has replaced its earlier WLD and USDC Vault products with a new Earn section. Supported users can deposit eligible assets into on-chain lending programs and track rewards without separately managing the underlying DeFi transactions.
World’s help center currently lists WLD, USDC, wrapped Ether and wrapped Bitcoin as examples of supported Earn assets. The programs use Morpho, with displayed APYs determined by protocol rates, deposited amounts and any promotional incentives.
Earn is not available in every country included in the 150-plus-country rollout. World says users who do not see the feature in their Wallet tab may be in an unsupported location. Rates can change, and withdrawals depend on on-chain liquidity and protocol conditions.
The main World Money product page warns that principal is not guaranteed and lists smart contract failure and protocol default among the risks. Earn balances are not bank deposits and receive no FDIC, SIPC or other government insurance.
World ID-verified users can receive limited promotional boosts on eligible Earn programs. Current support documentation says the enhanced rewards apply to the first 1,000 WLD and first 1,000 USDC placed into qualifying programs, with the underlying promotional terms subject to change.
Morpho itself has experienced infrastructure interruptions without reported failures of its underlying lending contracts. In recent coverage of a Morpho service outage, crypto.news reported that a July frontend and API disruption was restored after several hours while its blockchain contracts continued operating independently.
World ID now works beside a separate money app The launch comes as World has separated much of its identity and financial functionality into two applications. Updated support documentation dated Sept. 16 says World ID App now handles identity verification and credentials, while World Money handles wallet and financial functions.
Existing users do not need a separate identity. The two apps share the same World ID, allowing verification status to carry across when users sign in. World Money continues to support sending and receiving assets, trading and virtual accounts, while passport and national-ID credentials reside in the World ID App.
Orb verification remains available through World Money for a limited period, according to the current support page. World describes Orb verification as proof that a person is unique and uses it to determine eligibility for selected rewards and experiences.
In its launch post, World said “Money moves differently when accounts belong to people,” arguing that proof of human can add a verified-human layer to digital transactions. That description represents World’s view of its identity system; it does not eliminate payment, smart-contract, stablecoin or investment risks.
World Money includes Mini Apps such as Kalshi, Credit and Morpho, with actual access dependent on local eligibility. Kalshi has previously worked with World on prediction-market access; earlier coverage of the Kalshi integration reported plans to let World users access its markets through a Mini App.
WLD traded around $0.37 on Sept. 17, with CoinMarketCap data showing a roughly 3.2% daily increase at the time of its market snapshot.
World’s current product terms state that World Money is offered by Tools for Humanity and is not a bank. Features provided through Stripe, Bridge, Morpho and other partners remain subject to their own terms, local eligibility requirements and availability. World ID App and World Money now run in parallel, with the former handling identity credentials and the latter retaining wallet, transfer, trading and virtual-account functions.
V Ondo Finance se vyostřil spor o kontrolu po smrti zakladatele Nathana Allmana bez závěti. Rodina se nyní přela i o způsobilost Kathleen Allmanové a její podíl v pozůstalosti.
A legal battle over control of Ondo Finance has intensified after founder Nathan Allman died without a will, leaving his parents to inherit an estate that includes a controlling equity stake and a large holding of ONDO tokens.Allman’s mother, Kathleen Allman, sued acting CEO Ian De Bode over an alleged attempt to seize corporate control and secure a compensation package worth about $11 million.Allman’s half-sister and Ondo investor David Chen are seeking a limited conservatorship over Kathleen Allman’s share of the estate, alleging cognitive impairment and financial mismanagement, claims she denies.The succession crisis at Ondo Finance in the wake of its young founder Nathan Allman’s recent death is getting messier, as Allman’s family wages a legal battle against acting CEO Ian De Bode, and now, against each other.
Allman’s half-sister, Dr. Lani Clinton, and Ondo investor David Chen have petitioned a Hawaiian court to establish a limited conservatorship over Clinton’s 77-year-old mother Kathleen Allman’s share of the Ondo Founder’s estate, which includes a “controlling equity interest in Ondo Finance” and a “very large holding of ONDO tokens” including unlocked tokens and tokens that will unlock over the next three years.
In a Sept. 16 filing, Kathy Allman accused the defendants of forum-shopping after failing to remove her from Ondo’s board or curb its authority. She alleged that De Bode and Chen coordinated to replace her with a more sympathetic fiduciary and delay the Delaware proceedings, noting that Chen is funding a separate Hawaii petition, shares De Bode’s counsel and relied on sealed materials from the Delaware case.
The filing also said the Delaware court had already rejected De Bode’s argument that Kathy and Tahnee Towill were unfit to serve as directors.
Nathan Allman died suddenly and without a will at age 32 in May, leaving his estate — including his stake in Ondo Finance — in limbo. A probate court subsequently named his parents, Kathleen Allman and Lawrence Allman, his inheritors.
In the wake of Allman’s death, De Bode took the helm at Ondo. Shortly after De Bode’s ascension to acting CEO, Allman’s mother appointed herself and another of her children, Tahnee Towill, to Ondo’s board, named herself chair and interim CEO, and attempted to remove him from all company positions (he remains acting CEO and a member of Ondo’s board as of a Sept. 3 court order).
Ondo Finance declined to comment, and CoinDesk’s call to De Bode went unanswered.
Kathleen Allman subsequently filed suit against De Bode, accusing him of a “brazen usurpation of corporate control” and alleging that he began plotting a new $11 million compensation package within a week of Allman’s death. Her suit seeks to establish that De Bode and Chen, an early Ondo backer who De Bode sought to appoint to the board, were not validly appointed, that the disputed compensation awards are void, and seeks damages for alleged breaches of fiduciary duties.
De Bode’s compensation package included a $900,000 annual salary and bonus, a $1 million signing bonus and 26 million restricted token units valued at more than $9 million, Allman’s complaint said. The package also included awards covering 846,000 shares that would have increased his stake from 0.33% to 8%, or roughly 24-fold. Vesting was set to begin May 25, the day after Allman died.
“The writers of Game of Thrones could not have scripted Ian’s usurpation of power any better,” the estate said in its complaint.
But the new court filings call Kathleen Allman’s competency into question. Dr. Clinton, a professor of medicine at Duke University, told the judge that her mother “suffers from a long-standing alcohol use disorder and from a progressive impairment of executive function, judgment, insight and social cognition, which renders her unable to manage property and business affairs of this character and magnitude.”
In a statement to CoinDesk provided by her lawyers, Kathleen Allman denied the allegations in the petition, calling them baseless, and adding: “The petition in Hawaii has been filed by an associate of Mr. De Bode as a desperate next step after his attempts to wrest control of Ondo and wrongly enrich himself were declared invalid by the Delaware Court of Chancery. We are confident that this latest action will similarly fail. Kathleen has prioritized good governance from day one and will continue to focus on supporting the long-term success of Ondo while upholding the vision and values of her son Nate Allman.”
In addition to claiming her mother has a decades-long history of “consum[ing] alcohol at pathological levels,” Dr. Clinton asked that the court review her mother’s medical records and evaluate her for dementia, claiming in the court documents that a pattern of behavior over recent years was consistent with the “behavioral variant of frontotemporal dementia.”
In her filing, Dr. Clinton claimed to have been estranged from her mother since 2022 after an incident during a family vacation when Kathleen Allman allegedly told Dr. Clinton’s young children, aged 10, six and two, that “they were worthless, that she should have aborted all of them, and that she might be fortunate if they drowned in the ocean during the visit.” Afterwards, Kathleen Allman denied saying anything of the kind, according to the filing.
The court filings also hint at a pattern of lavish spending, claiming that Kathleen Allman “came to depend on [Allman] for…a scale of living her own resources had never supported.” In June 2025, according to court documents, Allman bought his parents a beachfront home in Honolulu for $18.5 million.
“Petitioners note also that despite substantial earnings [Kathleen Allman] has a history of financial strain, including an occasion on which she could not meet a single month’s mortgage payment and borrowed from her own mother,” lawyers for Dr. Clinton and Chen wrote in their filing.
Before Allman’s death, the filings claim, Kathleen Allman “purchased or attempted to purchase a Zeelander yacht in Florida at a price on the order of $4 million; traveled by private aircraft, including a request that [Ondo Finance] bear a six-figure cost of a flight from Hawaii to California, and lodged at approximately $4,000 per night.”
Nine days after her son’s death, according to filings, Kathleen Allman texted Chen saying: “Hi, I feel confident everything will sort, in time. But my #1 concern is cash flow, liquidity! Soon! Like I have a 200K invoice from people building pool in Newport. I really want to get that…boat, etc.”
Read more: Power struggle erupts at Ondo Finance after founder’s death
UPDATE (Sept. 17 23:10 UTC): Updates story with additional detail about the Sept. 16 filing made by the estate.
12345678910The Definitive Stablecoin Landscape Series: Asia Pacific
The Definitive Stablecoin Landscape Series: Asia Pacific
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
Sep 15, 2026
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
Why it matters:
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
SEC zavedla dočasnou výjimku „Innovation Exemption“ pro obchodování tokenizovaných akcií na blockchainu, což podpořilo ONDO. Token Ondo Finance za 24 hodin vzrostl o 13,48 %.
ONDO surged in value following a decision by the US Securities and Exchange Commission (SEC) to introduce an “Innovation Exemption,” granting temporary relief for certain venues trading tokenized stocks on the blockchain. This measure aligns with Ondo Finance’s ongoing mission to bring traditional securities into the blockchain ecosystem.
SEC introduces temporary framework for tokenized equitiesThe SEC’s Innovation Exemption paves the way for qualified Tokenized Securities Venues (TSVs) to facilitate trading of tokenized National Market System stocks. To be eligible, these platforms must use permissioned automated market makers and liquidity pools, adhere to strict conditions, and allow challenges to the listing of securities.
This exemption is both temporary and conditional. The SEC emphasized that holders of these tokenized stocks must enjoy the same rights and privileges as owners of their traditional counterparts. However, products that solely track the price of a stock, without representing direct ownership, remain excluded from the framework.
SEC Commissioner Mark Uyeda stated that the initiative is designed to let regulators observe the development of blockchain-based securities markets. The agency said it would use this period to further examine and refine its regulatory approach.
The framework allows regulated blockchain trading of select US stocks while the SEC evaluates its regulatory stance, offering a path forward for securities tokenization.
This move has sparked optimism across the tokenization industry, as it represents the first formal regulatory blueprint for blockchain-based securities marketplaces in the United States.
Mini dictionary: Ondo Finance is a company specializing in bringing real-world assets and securities, such as stocks and bonds, onto public blockchains using tokenization protocols.
ONDO rallies, technical analysis highlights resistance targetsOn the news, ONDO—the native token of Ondo Finance—rose sharply, gaining 13.48% over the last 24 hours to trade at $0.3747. The 24-hour trading volume reached approximately $384.07 million, with a market capitalization near $1.81 billion.
MetricValueCurrent price$0.374724h Volume$384.07 millionMarket Cap$1.81 billion24h Gain13.48%Technical analyst Crypto With Gopal noted a rectangle pattern forming on ONDO’s four-hour chart. At $0.353, ONDO faces resistance at $0.425 and has support at $0.320. If the price closes above the resistance, the token could target $0.55. A drop below $0.320, however, could undermine the bullish setup.
On the indicators front, ONDO’s price currently sits at $0.36813, well above the middle Bollinger Band at $0.35559 and below the upper band at $0.38517. This suggests bullish momentum, though the MACD indicator remains below zero at -0.00230, signaling ongoing bearish pressure.
If ONDO holds above $0.425, the technical setup favors a rally toward $0.55, but losing $0.320 support would threaten the uptrend.
Industry outlook and Ondo’s regulatory positionOndo Finance, which has developed a tokenized stock infrastructure and maintains regulatory registrations via Oasis Pro Markets, stands to benefit if the SEC permanently expands its guidelines. However, the SEC’s move remains temporary and subject to revision pending industry and public feedback.
The exemption presents new challenges and opportunities for both Ondo and the wider securities tokenization market, as participants await further regulatory clarification in the coming months.
Americké ministerstvo financí zařadilo íránskou burzu BitBank na sankční seznam kvůli převodům bitcoinů pro IRGC. Sankce míří i na finančníka Babaka Zanjaniho a jeho spolupracovníky.
The U.S. is continuing to target Iran’s use of bitcoin.
In a Thursday statement, the U.S. Department of the Treasury designated BitBank, an Iranian crypto exchange, as part of Operation Economic Outcast — the Trump Administration’s whole-of-government economic campaign against the Islamic Republic of Iran and its enablers.
The U.S. has sanctioned Iran for decades. This year, the Middle Eastern country has stepped up its use of cryptocurrencies — including bitcoin — in order to skirt around economic penalties.
“Today’s designations of Iranian digital asset infrastructure make perfectly clear that efforts to finance the Iranian regime using cryptocurrencies are not beyond OFAC’s reach,” Secretary of the Treasury Scott Bessent said in a statement.
“If you support the Iranian regime, the Department of the Treasury will sanction you.”
The sanctions target designated Iranian financier Babak Zanjani, along with its software developer, Pishtaz Simorgh Electronic Trade Company, and three of Zanjani’s associates: Hossein Ali Zaker Hossein, Mohammad Mahdi Zaker Hossein, and Seyed Adel Heidari.
Since June, the Iranian Hormuz Safe Marine Services Authority has used BitBank to move bitcoin to the Iranian regime, according to the Treasury.
Thursday’s sanctions aim to hit the “architecture Zanjani built to launder funds,” it added.
“The Department of the Treasury will continue to not only target the Iranian digital asset ecosystem, but also international entities and actors which help facilitate it,” the statement continued.
Iran started a bitcoin-backed insurance service for its counties shipping companies earlier this year.
The U.S. in July said that it had frozen crypto linked to the Iranian regime, mostly in the form of Tether’s stablecoin.
Stablecoins like Tether’s USDT can be frozen by the company that issues the asset. But bitcoin, being decentralized and having no single issuer, cannot.
The U.S. Treasury’s Office of Foreign Assets Control in July said Iran had been dodging sanctions by accepting pay in bitcoin from ships passing through the Strait of Hormuz.
OFAC said at the time that Hormuz Safe, developed by Iran’s Ministry of Economy, “accepts payment in Bitcoin and other digital assets” so it can bypass sanctions.
Mathew Di Salvo
Mathew is a reporter who's covered the space since 2019, reporting on everything from Salvadoran president Nayib Bukele's Bitcoin bet to crypto exchange FTX's bankruptcy.
XRP Ledger vydal verzi 3.4.0 s Lending Protocol v1.1, který přidává uzavřené trezory a účetnictví na bázi hotovosti. Aktivace ale závisí na hlasování validátorů.
XRP Ledger version 3.4.0 is now available, bringing changes to its lending framework alongside new amendments, stronger peer protections and performance updates aimed at improving how network nodes operate.
XRP Ledger 3.4.0 Brings Lending Changes The XRP Ledger Foundation released version 3.4.0 with Lending Protocol v1.1 among the amendments open for voting. The improvement introduces closed-ended vaults and cash-basis accounting to the lending framework.
XRPL features lending loans based on the XLS-66 specification, which offers fixed-term loans with the use of Single Asset Vaults. The model uses off-chain underwriting and risk assessment instead of requiring each loan to have on-chain collateral.
However, installing XRPL 3.4.0 does not automatically activate the new lending functions. Before the network can adopt the amendment, validators need to support the amendment.
Formal verification is also being used for the Lending Protocol by the developers. This method leverages mathematical proofs to verify the protocol’s behavior under specific inputs, in addition to traditional software testing.
Version 3.4.0 Adds Fixes and Node Updates Another amendment included with the release is fixCleanup, which groups several fixes into one proposal. The update comes after previous cleanup efforts of Single Asset Vaults, lending and automated market makers and other functions of XRPL.
Version 3.4.0 also modifies the behavior of nodes regarding missing ledger history. Online deletion now pauses when the software detects a gap, helping a node remain closer to the latest validated ledger.
Meanwhile, the developers made changes to the peer protocol and the Multi-Purpose Token freeze checks. These modifications are targeted to the network communication and the pace of particular checks that XRPL software carries out.
XRPL Moves Packages to New Repository XRPL software packages have been replaced on packages.xrplf.org and now have an XRP Ledger Foundation signing key. The update requires a node operator to update their repository configuration prior to installing the release if they are using version 3.3.0 or below.
This upgrade will require the running of one or more additional commands on some operators. The XRPL documentation provides manual instructions for Ubuntu installations affected by the repository change.
The amendments will take effect based on the outcome of validator voting. XRPL amendments must reach the required support level and maintain it through the activation period before the network adopts them.
Version 3.4.0 therefore provides the software for the proposed lending changes while leaving their activation to the XRP Ledger’s amendment voting process.
For more on XRPL, multi-purpose tokens support real-world asset issuers expanding on-chain debt and credit markets.
Coinbase uzavřela partnerství se společností Stablecore, aby komunitním a regionálním bankám i úvěrovým družstvům umožnila nabízet úschovu digitálních aktiv, směnu a platby ve stablecoinech. Služby poběží přes jejich stávající platformy.
Coinbase has announced a partnership with Stablecore, enabling community and regional banks, as well as credit unions, to offer digital asset custody, exchange activity, and stablecoin payments through their existing platforms. This collaboration aims to integrate digital asset services into traditional banking infrastructures, potentially broadening the adoption of cryptocurrencies. The development coincides with the upcoming Ethereum Institutional forum in London, which will focus on Ethereum’s future and security. This dual focus on institutional and retail integration could be indicative of a broader shift towards mainstream acceptance and utilization of digital assets.
The partnership between Coinbase and Stablecore appears to enhance the accessibility of digital asset services through well-established banking channels in the U.S. This integration is viewed by market participants as a significant step in increasing the adoption of cryptocurrencies like Ethereum, potentially impacting its market value positively. In related prediction markets, the probability of Ethereum reaching higher price thresholds by the end of 2026 is being closely monitored for indications of increased confidence among participants.
Key Takeaways The partnership between Coinbase and Stablecore suggests a move towards integrating digital asset services into traditional banking platforms. Market pricing indicates that this development may be supportive of increased cryptocurrency adoption and investment, particularly for Ethereum. The Ethereum Institutional forum in London is poised to discuss Ethereum’s role in financial infrastructure, which may influence market sentiment. What to Watch Observers should monitor further institutional collaborations and announcements from the Ethereum Institutional forum in London on November 12 for potential impacts on Ethereum’s market perception. Additionally, any regulatory developments affecting digital asset integration in traditional banking systems could have significant implications for market pricing. The continued evolution of these partnerships and forums may indicate scenarios where Ethereum’s price targets become more attainable.
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Term Structure
Contract Odds Δ since publish Volume 24h December 31, 2026 1.5% +0.1¢ — View market → December 31, 2026 1.8% 0.0¢ $123 View market → December 31, 2026 3.1% 0.0¢ $1K View market → December 31, 2026 4.5% +0.5¢ $3K View market → December 31, 2026 8% -0.5¢ $4K View market → January 1 2027 25% +0.5¢ $2K View market → January 1 2027 5.5% 0.0¢ $15K View market → January 1 2027 1.7% 0.0¢ $406 View market → January 1 2027 2.1% +0.2¢ $3K View market → January 1 2027 3.5% 0.0¢ $64 View market → January 1 2027 5.6% 0.0¢ $2K View market → January 1 2027 13.5% -0.5¢ $3K View market → January 1 2027 13.7% 0.0¢ $2K View market → January 1 2027 3.9% 0.0¢ $163 View market → January 1 2027 1.7% -0.1¢ — View market → January 1 2027 8.5% 0.0¢ $92 View market → January 1 2027 49.5% 0.0¢ $283 View market → January 1 2027 69.5% -0.5¢ $3 View market → January 1 2027 16% -1.5¢ $9K View market → January 1 2027 2.3% 0.0¢ — View market → January 1 2027 31.5% -3.5¢ $500 View market → January 1 2027 58% -3.5¢ $49K View market → Updated 1min ago
Průměrné poplatky na síti Ethereum spadly z 0,72 USD na 0,095 USD za převod, tedy o 87 %, díky nižší aktivitě a upgradu Fusaka. Gas limit se zvýšil na 60 milionů.
Ethereum’s average transaction fees have fallen sharply in recent months, sliding from $0.72 per transfer in April to just $0.095 today. This dramatic decline arrived as Ethereum’s market price remains near yearly highs, highlighting the impact of recent technical upgrades and changing user demand on network costs.
Network activity cools as upgrades take holdAnalytics provider Santiment attributed much of the fee reduction to subdued mainnet activity during the summer’s quieter trading environment. With fewer active users competing for Ethereum’s blockspace, congestion eased and processing costs dropped.
Santiment noted transaction costs have decreased considerably since reaching their yearly peak. The firm highlighted that despite Ethereum’s higher price, users now pay significantly less per transaction, with current fees measured at $0.095 compared to $0.72 in April.
While seasonal demand is down, Ethereum’s increased network capacity has also played an important role in reducing fees. The Fusaka upgrade brought higher blob throughput, enabling the blockchain to handle more data with every block and easing congestion further.
In addition, Ethereum’s gas limit was raised to 60 million, increasing the number of transactions processed in each block and further diluting competition for blockspace.
Layer 2 networks, such as Optimism and Arbitrum, have absorbed a significant share of network activity that previously occurred directly on Ethereum’s mainnet. These secondary protocols help reduce demand for mainnet blockspace and thereby ease upward pressure on fees.
Mini dictionary: Fusaka upgrade, a network improvement on Ethereum that increases “blob” data throughput, allowing for greater transaction capacity and helping decrease congestion.
These combined factors have given users a more affordable experience for activities such as token transfers and decentralized finance transactions. Lower transaction costs address one of the platform’s long-standing hurdles to broader adoption, though fee reductions alone do not necessarily signal renewed network growth.
ETH price tests key support and resistance zonesETH most recently traded near $2,441, marking a 2.2% rise over the previous 24 hours and showing sturdy trading volumes of $12.2 billion. Despite this bounce, weekly performance has cooled, with the token declining 0.6% over the past seven days.
Market analyst Cryptorphic identified $2,365 to $2,380 as an important support zone, stating that ETH has rebounded from this range after a recent dip.
According to the analysis, price is currently testing a broken rising trendline around $2,460. If ETH reclaims this level, a further advance toward the $2,520 to $2,530 resistance area could follow, while failure may result in a return to support.
This technical area remains a focal point for traders anticipating a potential shift in short-term sentiment. The asset’s ability to sustain movements beyond its immediate support and resistance levels may influence near-term outlooks.
Meanwhile, the improved fee environment could help stimulate activity if market participants regain confidence and push for higher transaction volumes in the months ahead.
MetricApril 2026September 2026Average transaction fee$0.72$0.095Gas limitPreviously lower60 millionETH priceLower than $2,441$2,441Key support zone$2,365–$2,380$2,365–$2,380Key resistance$2,520–$2,530$2,520–$2,530
Sui uzavřel partnerství s Daya, aby firmám v Africe umožnil gasless stablecoinové platby bez síťových poplatků. Integrace je už aktivní v Daya Business, Daya Pro a Daya APIs.
Sui has announced a partnership with Daya to enable gasless stablecoin transactions for businesses across Africa, aiming to simplify cross-border payments and streamline treasury management. With stablecoins gaining increasing traction as a reliable payment option in the region, this collaboration seeks to address common challenges faced by African companies in cross-border settlements and remittances.
Daya integrates Sui for seamless business paymentsDaya has incorporated Sui as its settlement infrastructure, allowing businesses to execute stablecoin transfers without network gas fees. The integration is already live across Daya Business, Daya Pro, and Daya APIs, expanding access to payments, liquidity, remittances, and developer services.
Currently operating in Nigeria, Daya plans to roll out additional local-currency rails in South Africa, Ghana, and Kenya. The collaboration aims to make cross-border transactions for African enterprises more efficient by leveraging Sui’s gasless transaction capability to reduce costs and operational friction.
Sui’s gasless model eliminates the need for companies to hold or manage a separate SUI token balance. Instead, supported stablecoins such as USDC serve as direct payment assets, streamlining both settlements and treasury operations for users on the continent.
Adeniyi Abiodun, Co-Founder and Chief Product Officer at Mysten Labs, highlighted the significance of this technological shift.
He emphasized that removing gas fees helps deliver blockchain-based financial products that are faster, more reliable, and global in scope, while Daya’s platform addresses essential business needs for efficient money movement across Africa.
Tomiwa “Aleph” Lasebikan, Co-founder and CEO of Daya, underscored the benefits for businesses. He pointed out that by eliminating the need to understand or manage a native network token, millions of African enterprises can adopt stablecoin-based payments more easily.
Stablecoins strengthen Africa’s payment infrastructureThe adoption of stablecoins continues to accelerate across African markets, particularly as businesses seek faster value transfer and insulation from local currency volatility. Many firms remain hindered by payment processing delays, foreign exchange barriers, and high transaction costs. By enabling dollar-backed digital assets to bypass cumbersome intermediaries, stablecoins are emerging as the preferred payment rail for cross-border activity.
Daya’s integration of Sui comes amidst a broader trend of blockchain and fintech innovation in Africa. Providers are building ecosystems capable of local collection, stablecoin conversion, multi-currency accounts, and cross-border payouts—all from a single platform.
As technical milestones such as Daya’s Sui-powered gasless payments are reached, a larger transition is taking place within financial markets. While traditional systems often depend on intermediaries or brokers, more investors and businesses are turning to decentralized solutions. Wall Street is increasingly embracing Web3, with investors leveraging tools like 1stepSwap to directly hold shares of leading US companies, as well as gold and silver, in their crypto wallets. Through real-world asset (RWA) tokenization and automatic price matching, these platforms further eliminate middlemen from the transaction process.
Sui’s growing stablecoin market is also fueling this transformation. Research from DeFiLlama shows around $470 million in stablecoin capitalization currently present on Sui, underscoring the network’s sizable liquidity and its expanding role in Africa’s digital payments sector.
The scale of stablecoin activity points to a deepening infrastructure for payment-focused applications. As blockchain networks and established financial infrastructure providers collaborate, the resulting solutions could dramatically improve efficiency and accessibility for businesses in Africa.
The continued adoption and real-world application of such technology will be shaped by demand among businesses and the willingness of payment providers to integrate scalable blockchain infrastructure. Ongoing partnerships, such as the new agreement between Sui and Daya, are set to reinforce the region’s evolving digital financial landscape.
Matt Huang z Paradigm varoval, že čisté coin voting řízení může u Zcash vytvořit nepředvídatelnost a oslabit dlouhodobou důvěru v ZEC jako peněžní aktivum.
Zcash’s governance crisis is back in the headlines again, with funding for developers (via the Dev Fund) and the voting mechanism facing strong scrutiny.
The Dev Fund, meant to support ongoing development, including security and engineering of the Zcash network, gets 20% of all block rewards. For some, the fund is inflationary and a tax on ZEC holders that should be abolished and allow developers to seek private funding.
However, others feel the Dev Fund should be kept. Joining the debate, Matt Huang, founder of VC and blockchain research firm Paradigm, took a slightly different stance.
We believe the Dev Fund is important, particularly in this age of AI cyber capabilities, rate of quantum progress, etc.
However, he disagreed with the governance voting mechanism, warning that the current approach that depends squarely on coinholders can affect ZEC’s valuation.
We think pure coinvoting governance introduces unpredictability that could limit long-term trust as a monetary asset, and it is better for the project to combine coinvoting with other forms of governance.
Source: X What’s at stake amid the Zcash governance crisis? It’s worth pointing out that Aave faced a similar governance crisis recently. Independent developers and tokenholders disagreed with Stani Kulechov’s (founder) push to control revenue and brand rights.
The results? AAVE’s price tanked, and the trust-rebuilding is still ongoing.
It seems Huang fears a similar fallout for ZEC, a token viewed as a better privacy-focused alternative to Bitcoin. Although he didn’t disclose his preferred hybrid voting mechanism, Huang’s stance sparked mixed responses.
For his part, investor Naval Ravikant disagreed with him, warning that off-chain third parties will create endless politics.
Blockchains are markets, not democracies or aristocracies.
Source: X But Josh Swihart, founder of Zcash Open Development Lab (ZODL), an independent developer, echoed Huang’s views. However, he called for the network’s outcomes to be clear so that the exact funding can be decided for those objectives.
For perspective, the Dev Fund directs 60% to ‘Lockbox’ as the community debates how to govern and share it.
The remaining 40% goes to Zcash Community Grants (ZCG) and is issued to independent developers within the ecosystem. The Lockbox holds about $37M.
Source: The Block ZEC price explodes 30% to a record high Despite the governance debate, ZEC exploded 30% this week to a record high of $1396. The rally followed massive $18M single-whale accumulation and short liquidations. In particular, Garret Jin suffered a $26M loss in his ZEC short position.
However, if the debate spirals out of hand and reverses the rally, a pullback to $1K or $800 would offer new buying opportunities.
Source: ZEC/USDT, TradingView Final Summary Paradigm founder warned that ZEC could be devalued amid Dev Fund and voting debate. ZEC price hit a new record of about $1.4K amid record whale buying, shrugging off the governance crisis.
SEC schválila Innovation Exemption pro tokenizované akcie, což poslalo $UNI zhruba o 19 % výše na téměř $7,60. $NEAR zároveň přidal kolem 18 % na $3,00 po zprávě o překročení $70 milionů v confidential TVL.
A single regulatory decision dominated crypto price action on September 17, lifting decentralized exchange tokens and drawing fresh attention to the intersection of traditional finance and onchain infrastructure.
SEC clears the path for onchain stock trading $UNI surged roughly 19% to near $7.60 after the U.S. Securities and Exchange Commission issued its long-awaited Innovation Exemption. The SEC granted temporary, conditional exemptive relief to Tokenized Securities Venues (TSVs), releasing them from the definition of "exchange" under the Securities Exchange Act of 1934, so they can trade tokenized National Market System stocks using permissioned automated market makers and liquidity pools. The exemption creates a five-year window for tokenized NMS stocks to trade through permissioned AMMs and liquidity pools on public blockchains.
Uniswap founder @haydenzadams said the relief also covers permissioned pools in Uniswap v4, a detail that directly broadened the scope of the ruling for the protocol's users.
The regulator explicitly excluded synthetic security tokens that are derivatives and do not provide ownership of the underlying shares, a distinction that narrows the exemption to fully backed instruments. The order covers stock tokens that are 1:1 backed by the underlying asset with full voting rights, dividends, and proxy entitlements. SEC Chairman Paul Atkins framed the move as a step to bring US capital markets into the digital age, and noted the commission would seek public comment as it considers longer-term rules.
NEAR Protocol climbs on Confidential Intents milestone $NEAR gained around 18% to $3.00 on a separate catalyst. near.com announced that it had surpassed $70 million in confidential Total Value Locked, automatically triggering the snapshot for Drop 1 in the [email protected] Milestone Incentive Program. 333,333 milestone tokens will soon be available for eligible community members to claim.
Eligible participants must maintain a confidential balance above $100 and an active swap history. Rewards remain locked until NEAR's three-day volume-weighted average price reaches $3.33 or higher, at which point milestone tokens convert into $NEAR. Confidential Intents routes transactions through a NEAR private shard, eliminating mempool exposure, predatory MEV, and front-running without the computational overhead of zero-knowledge systems.
The two catalysts, regulatory and protocol-level, reflect how quickly the market is repricing assets tied to real structural developments rather than sentiment alone.
Sources:
SEC.gov: SEC Issues Innovation Exemption to Facilitate Trading of Tokenized NMS Stock
PRNewswire: near.com Confidential TVL Reaches $70 Million
CoinDesk: SEC Rolls Out Innovation Exemption for Tokenized Securities Venues
NEAR Protocol vzrostl o 22 % na 2,98 USD po spuštění důvěrného obchodování s perpetual kontrakty poháněného Hyperliquid. Objem obchodů vyskočil o 120,4 % na 1,24 miliardy USD.
NEAR Protocol (NEAR) rallied on Thursday, rising by 22% to $2.98 as traders responded to the launch of confidential perpetual trading powered by Hyperliquid. During the rally, the trading volume surged 120.4% to $1.24 billion, and the market cap rose to about $3.9 billion.
NEAR Brings Private Hyperliquid-Backed Perpetual Trading According to a report, NEAR has made perpetual positions confidential by default on the platform. Users can now open leveraged trades without making the trades public on the blockchain.
The setup uses NEAR Intents, with a private shard that shields transaction details from the public ledger. Traders remain in control of their funds, while information such as position size, entry levels, and trading activity can stay hidden from outside observers.
Funding is not limited to assets held on NEAR. The interface supports over 35 blockchains, and NEAR Intents acts as the router between network chains. This eliminates some of the middle steps in which users would have to transfer assets or cash across different wallets.
Hyperliquid Handles the Underlying Perpetual Trades Hyperliquid provides the perpetual futures market behind the product. According to data, the decentralized derivatives platform has seen perpetual trading volume of approximately $240 billion in the last 30 days.
Under the arrangement, NEAR supplies the privacy and cross-chain layer, while Hyperliquid handles the underlying derivatives execution. The product is supported by over 50 markets, and leverage up to 40x is available in the NEAR interface.
Hyperliquid is attracting interest beyond the NEAR rollout. Payward, Kraken’s parent company, announced its intention to launch on-chain perpetual futures based on Hyperliquid for U.S. customers via a mechanism that includes CFTC-regulated Bitnomial Exchange and Bitnomial Clearinghouse.
What’s Next for NEAR Price? Following the token’s time below the $3 mark, the recent announcement has been the catalyst for a rally amid a bearish crypto market brought on by the Clarity Act failing to pass. Should the rally proceed, the NEAR token would need to reclaim $3.5 and maintain the current momentum.
Earlier in the week, interest in NEAR’s confidential trading system had been ramping up. On September 15, the project released a statement stating that the total value locked (TVL) was now $70 million.
However, perpetual futures are still a high-risk product due to the fact that leverage can magnify gains or losses. Other factors that could affect access include local rules, and in some jurisdictions, derivative trading on decentralized platforms may be limited.
Šéf Avalanche Treasury Co. Bart Smith varuje, že AI agenti mohou vyčerpat kapacitu Layer 1 a že blockchain už nebude mít „nekonečný“ prostor. Zároveň očekává, že tradiční finanční trhy budou do poloviny roku 2027 fungovat v režimu 24/5.
Avalanche Treasury Co. CEO Bart Smith has warned that AI agents could strain Layer 1 block space as automated financial activity moves onchain and traditional markets adopt longer trading hours.
Summary
Smith said AI agents could challenge the assumption that blockchain capacity is effectively unlimited. Rising transaction demand could make technical differences among Avalanche, Solana and Ethereum more important. Smith expects traditional markets to trade around the clock, five days a week, by mid-2027. Avalanche Treasury gives U.S. investors exposure to the network through its Nasdaq-listed AVAT shares. AI agents could test available block space The Block reported from the New York Avalanche Summit that Smith expects autonomous agents to generate financial transactions on blockchains if their adoption reaches even the lower end of current market estimates.
AI agents can act on instructions, interact with software and complete tasks with limited human involvement. Applied to finance, such systems could place trades, move funds, settle payments or manage positions, with each onchain action competing for network capacity.
Smith argued that the resulting transaction load would challenge the common view that block space remains abundant. Existing networks can currently handle enough activity that many users do not need to consider how one Layer 1 processes transactions differently from another.
“As long as AI agent activities reach the lower end of market expectations, relevant activities will occur on the blockchain,” Smith said. “There is not enough block space, and block space is no longer infinite.”
Under Smith’s forecast, automated activity would not merely add more human users to blockchains. Software agents could operate continuously and make repeated transactions without following the working hours, sleep schedules, or manual approval processes that limit human activity.
Smith did not provide a transaction estimate or a date when demand could exceed available capacity. His claim rests on AI agents gaining enough use in financial markets to create sustained onchain activity rather than occasional tests.
L1 differences may become harder to ignore As transaction demand rises, Smith expects users and financial firms to pay closer attention to differences among Avalanche, Solana and Ethereum. Network design affects transaction speed, fees, finality, privacy options and the ability to create systems for specific business needs.
“Theoretically, there are many subtle differences between these L1s,” Smith said, adding that users can overlook many of them while capacity remains readily available. Under heavier demand, he said, “these differences will become important.”
Smith identified privacy and security as areas where he believes Avalanche is suited to business applications. The view aligns with the network’s use of separate Layer 1 environments, which organizations can configure for specific operational and compliance needs.
Recent deployments provide examples of the business activity Smith described. On Sep. 14, Avalanche was selected as the underlying blockchain for the UAEPASS Digital Vault, a document service within the United Arab Emirates’ national identity platform.
UAEPASS serves 12.5 million users and connects them with more than 15,000 services offered by over 350 public and private organizations. Deca4 and Ava Labs said the vault would use cryptographic records to verify that documents had not been altered without putting their personal contents directly onchain.
Such a design separates document verification from the sensitive data contained in the file. The UAE’s Telecommunications and Digital Government Regulatory Authority oversees the service, Deca4 is handling local implementation, and Ava Labs is supplying Avalanche infrastructure and technical support.
Avalanche has also attracted financial firms working with tokenized assets. In September, Hanwha Investment & Securities completed a tokenized securities platform supporting Avalanche ahead of South Korea’s planned regulated security-token market.
According to Seoul Economic Daily, the platform is designed to manage issuance and distribution processes for tokenized securities. South Korea’s framework is scheduled to take effect in February 2027, giving financial firms a regulated route to represent qualifying securities on blockchain systems.
Round-the-clock markets would require new infrastructure Smith also expects traditional financial markets to move toward continuous weekday trading. By mid-2027, he said, markets could operate 24 hours a day for five days each week, extending access far beyond the sessions followed by most stock exchanges.
Existing financial systems would struggle to support that schedule, according to Smith, because much of the infrastructure depends on set operating hours and processes that were not designed for nonstop trading and settlement.
“New infrastructure must be created,” Smith said, adding that it would not be built using the old model “but rather built on the blockchain.”
Longer trading hours could require clearing, settlement, collateral management and risk systems to operate throughout the day. In Smith’s scenario, AI agents would add another layer of activity by making automated decisions while markets remain open across different time zones.
Avalanche’s recent institutional activity has already extended beyond test transactions. In July, the network’s distributed tokenized real-world asset value reached $2.1 billion after rising 60.47% over 30 days, according to RWA.xyz data cited in a crypto.news report on its $11 billion tokenization deal with Bridgetower.
Bridgetower said it had placed more than $11 billion in production-linked assets on Avalanche using Chainlink infrastructure. The portfolio included the Arizona Copper-Gold project, while BlackRock’s BUIDL tokenized U.S. Treasury fund had passed $900 million on Avalanche at the time.
Franklin Templeton and VanEck have also used or announced plans involving Avalanche-based products. Smith’s forecast, however, concerns a later stage in which automated systems and continuously operating markets produce recurring transaction demand rather than isolated institutional deployments.
Nasdaq listing gives U.S. investors Avalanche exposure Smith leads Avalanche Treasury Co., a U.S.-listed company that began trading on Nasdaq under the AVAT ticker in June. The listing gives American investors a way to gain exposure to the Avalanche ecosystem without directly holding AVAX.
The company reached the public market through a merger with Mountain Lake Acquisition Corp., a special-purpose acquisition company, in a transaction valued at about $675 million. At its Nasdaq debut, Avalanche Treasury held roughly 15 million AVAX, equal to about 3.5% of the token’s circulating supply at the time.
AVAT closed 38.13% lower at $1.85 in its first trading session after opening at $2.99. Trading volume reached about 497,580 shares, while the company’s market value stood near $486.37 million.
Smith said at the time that Avalanche Treasury planned to deploy capital across the network rather than operate only as a passive token holder. “It is not a bet on price,” he said, describing the business as an ecosystem investment vehicle.
The company’s structure still leaves its financial position exposed to AVAX price movements because of its token holdings. Its board and advisory group includes Ava Labs founder Emin Gün Sirer and Aave founder Stani Kulechov, while its backers include Dragonfly, ParaFi Capital, VanEck, Galaxy Digital, Pantera Capital, CoinFund, Kraken, FalconX and Borderless.
Before leading Avalanche Treasury, Smith worked at Susquehanna for nearly 14 years and held roles tied to institutional trading and digital assets. His comments at the summit connect that market background with a forecast in which continuous trading, automated financial agents, and blockchain settlement increase demand for Layer 1 capacity.
Solana v prvním závazném on-chain hlasování schválila zdvojnásobení tempa disinflace, a to o 0,334 procentního bodu nad potřebnou dvoutřetinovou hranici. Rozhodující byl i blokový hlas JitoSOL a pozdní obrat validátoru Kraken.
Solana just took the most historic step in its governance history: its first real on-chain vote, where any SOL holder — not just validators — could weigh in on the network's constitution, inflation and fees. Camila Russo sits down with Nick Almond, Head of Governance at the Jito Foundation, right as that shift collides with a new threat: Robinhood's own chain moving in on meme coins, the one corner of crypto that was always Solana's. Nick breaks down how the vote actually played out — including the disinflation proposal that was decided with eight seconds left after Kraken flipped its vote — how JitoSOL swung its entire stake pool with a 13% quorum trigger, and why he still thinks Solana's shot at attracting new apps, from tokenized stocks to meme coins, is stronger than people give it credit for. Presented by Oasis — a self-custody wallet built on a 2/3 multisig. You hold two keys, Oasis holds a recovery key, and never has unilateral access. Oasis is giving away a CryptoPunk to the first 500 new or upgraded plans through October 31: https://www.oasisvault.io/cryptopunk
🎧 Listen to Interview💻 Watch Video
How JitoSOL Swung Solana's Governance VoteJito Foundation's head of governance says a liquid-staking override mechanism decided Solana's closest on-chain vote, as validators confront an 87% revenue decline and rising competition from Robinhood Chain.
Solana's proposal to double the network's disinflation rate passed by 0.334 percentage points above the two-thirds threshold it needed, and it would have failed without a mechanism that let holders of Jito's liquid staking token vote independently of the validators holding their stake, according to Nick Almond, head of governance at the Jito Foundation.
"We got 13% of the TVL in the end and the whole JitoSOL stake pool voted during the actual on-chain vote," Almond said in an interview on The Defiant Podcast, describing roughly 10 million SOL, then worth close to $1 billion, that Jito directed toward the proposal known as SGP-0002.
The vote was one of three that closed on August 28, in the first binding governance referendum Solana validators have held since the network's constitution went live earlier that month. Solana Validators Approve Doubling Disinflation in First Governance Vote, With Kraken Reversing Late SGP-0002 doubles the rate at which Solana's annual issuance shrinks, moving the network's terminal inflation rate of 1.5% up by roughly three years, to early 2029. It passed with 67.001% of votes cast in favor, against a required 66.667% supermajority. A separate proposal to split Solana's flat transaction fee into resource and inclusion components failed to clear the same threshold and has gone back to the proposal stage, Almond said.
A mechanism built for liquid stakingJito built the override under a proposal called JIP-30, ratified last year, which lets holders of JitoSOL, the network's largest liquid staking token, signal a vote preference during a window that opens roughly three epochs before validators cast theirs. If at least 10% of JitoSOL's total value locked participates, the stake pool casts its entire holding as a single bloc, reflecting how those holders voted, rather than leaving the decision to the roughly 350 validators the pool dynamically delegates to.
"What this allows is basically any Sol holder that's staked their Sol can vote individually," Almond said, describing the broader voter-override rule that Solana's new constitution established for all stake accounts, not just JitoSOL. "For me, that really decentralizes the network out to almost the individual level."
Almond recalled the count flipping in the vote's final seconds. On-chain vote tallies show the swing came earlier: with roughly 70 minutes left before the epoch closed, the yes side was still about 58 million SOL short of the threshold, until a reversal by Kraken's validator, which flipped roughly 8.1 million SOL, combined with JitoSOL's bloc vote to push the proposal over the line.
The proposal compresses margins for staking providers, including exchanges such as Kraken, that pass through a share of Solana's inflation rewards to customers. "We're asking them to earn less money by being staking providers," Almond said. "So you can imagine the rational economic actors in the network don't necessarily want that to happen."
Fewer validators, same decentralization argumentSolana's validator count has fallen to around 700 from roughly 1,000, Almond said, a trend he attributed to rising hardware requirements as the network pushes for bigger blocks and shorter block times. He argued that measuring decentralization by validator count alone misses how concentrated stake already is on other networks. "If you actually look at it critically and look where the stake is actually living on both chains, it's almost exactly the same," Almond said of Solana and Ethereum, adding that a comparison he ran recently found the two networks' validator stake similarly distributed across data centers geographically.
The first of the three August proposals, SGP-0001, ratified the Solana Constitution that created the voting framework itself, passing with 85.97% support on 51.96% turnout of eligible stake. Solana Launches Onchain Governance With Stake-Weighted Voting for Validators It replaced an earlier, off-chain process that produced Solana's first major economic vote in 2025, SIMD-228, a proposal to cut inflation that failed after opposition from smaller validators despite backing from large stakeholders including Multicoin Capital. Solana Community Rejects SIMD-228 Proposal to Reduce Token Emissions Almond said that failed vote was one of the reasons he moved to Solana from prior DAO governance work 18 months ago.
Revenue down 87%, and Robinhood Chain closing inSolana's network revenue fell 87% year-over-year in the first half of 2026, to $141 million from $1.09 billion, as memecoin trading's share of the network's spot volume dropped to 16% from 40% over the same period, according to a report published by 21Shares. Almond attributed part of the decline to a deliberate tradeoff: Solana has roughly tripled block sizes over the past year, he said, which lowers competition for block space and reduces priority fees and Jito's own MEV tips, both major components of network revenue.
"The network intentionally is compressing its own margins," Almond said. "We're trying to build a network that can swallow 10x the demand or 50x the demand."
Solana faces a new competitor for the tokenized-equities trading it has courted: Robinhood Chain, the Arbitrum-based layer 2 that Robinhood Markets launched this year. Robinhood Chain's gas fees rose 82-fold over 11 days in early September, briefly exceeding those of Ethereum, Solana and Tron combined on a single day. Robinhood Chain Gas Fees Jump 82-Fold In 11 Days To Top Every Other Chain Almond said Robinhood built its own chain, rather than deploying on Solana, to capture sequencer revenue directly. "They get to own their rails to a degree where they can capture the rents on the chain as much as possible," he said, noting Robinhood's fees have run higher than Ethereum mainnet's despite it operating as a layer 2.
Almond said Solana's SGP-0003 fee proposal, which failed in August after developers of applications including the perpetuals exchange Phoenix warned it could raise their operating costs, is likely to return in smaller pieces. He also pointed to buyback-and-burn programs, including one Jito plans to route its own revenue lines through next year, as the more active lever protocols are using to tie token value to network activity while the fee debate continues.
SOL traded at $99.48 on Thursday, up 2.4% over 24 hours and down 1.7% over the past week, according to CoinGecko. Jito's JTO token traded at $0.4254, up 3.4% over 24 hours. Jito's total value locked stood at just over $1 billion, according to DefiLlama.
Podíl $USDC na stablecoinové nabídce Solany klesl na 44,03 % a za 6 měsíců spadl o 17,1 %. Síť mezitím přesáhla 16 miliard USD ve stablecoinech a růst táhnou nové alternativy.
$USDC's share of Solana's stablecoin supply has fallen to 44.03%, according to DefiLlama data. That represents a 17.1% decline over the past 6 months and a 45.2% drop from its 80.3% all-time high in February 2025.
The decline looks even more striking because Circle has minted approximately $1.25 billion $USDC on Solana over the past 2 days, while it has minted more than $92 billion in 2026 so far. However, redemptions have been occurring at a faster pace, meaning the recent mints have not translated into equivalent growth of $USDC supply.
$USDC still holds roughly $7 billion on the network and remains the largest individual stablecoin. The difference is that Solana's stablecoin market has expanded much faster around it.
Solana's total stablecoin supply has climbed above $16 billion, while non-$USDC/$USDT stablecoins have reached a record $5.59 billion.
Newer Stablecoins are Changing the Market The biggest change comes from the proliferation of newer institutional stablecoins. World Liberty's $USD1 has reached approximately $1.32 billion supply on Solana, while Paxos's $USDG has grown to about $612 million. Anchorage Digital's $USDGO has expanded from an initial $50 million mint to $1.37 billion in 7 months.
PayPal's $PYUSD, Western Union's $USDPT, and BlackRock's tokenized dollar product have also added new stablecoin liquidity to the network. Solana has increasingly attracted these issuers because its high-throughput infrastructure can support large-scale settlement. Several issuers have chosen Solana as an initial or early launch venue. The result looks less like $USDC losing billions of users and more like Solana adding competing dollar rails around it.
Yield Gives Alternatives An Advantage Incentives also help explain the shift. Several newer stablecoins offer rewards or yield on holdings. For example, Anchorage's $USDGO and PayPal's $PYUSD rewards programs offer daily yield to eligible holders.
$USDC, by comparison, offers essentially no native onchain yield to someone simply holding the token on Solana.
That difference can matter for institutional and DeFi users deciding which dollar asset to hold. Users may choose between stablecoins based not only on liquidity and reputation, but also on yield, issuer, regulatory framework and intended use.
Mixed Reaction to Circle’s Regulatory Stance The shift also follows the April 1 Drift exploit, which triggered criticism of Circle across parts of the Solana ecosystem. Attackers reportedly moved more than $230 million through Circle's Cross-Chain Transfer Protocol. Some ecosystem participants subsequently encouraged DeFi users to move from $USDC into other stablecoins in protest, arguing that Circle should have frozen the stolen funds.
Circle CEO Jeremy Allaire defended the company's position, saying Circle would not intercept funds without legal precedent and stating that the company had a “very, very clear performance obligation under the law.” The episode added friction to an ecosystem where Circle had long enjoyed a largely uncontested position and affected the stablecoin issuer’s brand image. $USDC’s share of the Solana stablecoin market has fallen 33% since then.
Circle now has its focus set elsewhere aside from Solana with yesterday’s mainnet launch of Arc, its own $USDC-based Layer 1 blockchain, which gives the company another settlement environment. Arc uses $USDC for transaction fees and has BlackRock, Visa, Mastercard, DTCC, and other institutions among its founding validators.
For Solana, more stablecoins bring additional institutional capital, payment networks, and developer options, but they also introduce fragmentation and counterparty risks. For now, $USDC remains the major settlement asset on Solana, but the network no longer depends on a single dollar-backed rail. If current growth continues, Solana's stablecoin market could surpass $20 billion in the near future, with an increasingly diverse mix of $USDC, $USDT, $USD1, $USDGO, $PYUSD, and other assets.
Read More on SolanaFloor Solana Leads All Chains in $ZEC Trading Volume as Onchain Supply Hits All-Time High
U.S. Bank Column Makes Solana the Default Network for Stablecoin Banking
AI agent @hackhackai odhalil v návrhu Solany SIMD-0376 chybu, která by mohla umožnit podpis na zero address a ohrozit 433 metadata účtů. Návrh má přitom snížit náklady validátorů zhruba o 40 %.
Solana’s ongoing effort to modernize its signature verification system just hit a speed bump, and it came from an unexpected source: an autonomous AI research agent.
The agent, operating under the alias @hackhackai on the Solana blockchain, identified a potential vulnerability in SIMD-0376, a proposal designed to reform how the network handles transaction signature verification. The flaw, if left unaddressed, could allow signing at the zero address, putting 433 metadata accounts at risk.
What SIMD-0376 actually proposes Currently, Solana verifies Ed25519 signatures using the ed25519-dalek library. SIMD-0376 wants to replace that with a ZIP-215 cofactored EdDSA verification standard, a different implementation of the same underlying cryptographic curve.
The practical upside of the switch is real. The proposal aims to enable batch signature processing, which could reduce computational costs for validators by around 40% when handling large volumes of signatures.
David Rubin from Syndica introduced the proposal on October 6, 2025. It was subsequently refined and merged into the Solana Improvement Documents repository on January 28, 2026.
The zero-address problem The vulnerability @hackhackai surfaced centers on a specific edge case introduced by the ZIP-215 standard: the possibility of signing with or for the zero address. Under normal Ed25519 rules, such a signature would be outright rejected. Under ZIP-215’s more permissive verification logic, it may not be.
That permissiveness is actually intentional in ZIP-215’s design. The standard was built to accept a broader range of valid signature representations, which makes batch processing more straightforward. The tradeoff is that it also relaxes certain boundary checks that previously served as implicit security guardrails.
The result, according to @hackhackai’s findings, is that 433 metadata accounts linked to the Solana ecosystem could be exposed to signing operations that should never be possible.
Hackhackai describes itself as an AI-focused research agent built specifically to isolate vulnerabilities in Solana protocols.
Why the timing matters The proposal was introduced in October 2025, merged in January 2026, and the zero-address vulnerability surfaced without meaningful coverage from mainstream crypto news outlets in the months that followed.
The metadata accounts flagged in @hackhackai’s findings are not generic user wallets. Metadata accounts in Solana’s architecture typically store program-level data, token configurations, or NFT attributes. A signing anomaly affecting these accounts could, in a worst-case scenario, enable unauthorized modifications to program state or asset ownership records, depending on how individual programs handle incoming signed instructions.
For developers building on Solana, particularly those whose programs interact with metadata accounts, the practical question is whether their instruction validation logic assumes current Ed25519 rejection behavior or explicitly checks for zero-address inputs. Programs written before SIMD-0376 was proposed would have no reason to include the latter check, since it was never needed.
The proposal’s authors and the Solana Foundation have not publicly commented on the flaw as of the time of writing.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Zest Protocol’s new levered Bitcoin staking vault is now live on Stacks. The zvstBTC vault, the protocol’s first automated Stacks Vault product, marks a notable step in the slow but steady effort to make Bitcoin actually productive in DeFi.
The concept is straightforward in theory, even if the plumbing underneath is anything but. Users deposit Bitcoin assets like stBTC or BTC into the vault and receive zvstBTC shares in return. The vault then runs a leveraged loop: posting stBTC as collateral in Zest’s lending market, borrowing sBTC against it, and recycling those borrowed assets back into staking positions to amplify the base yield.
How the yield math works The unlevered staking rate for stBTC, the liquid staking token issued by Stacking DAO, sits at roughly 2.6% APY. Zest’s vault aims to stretch that to 6-8% APY through its looping strategy.
The gains don’t arrive as separate token distributions. Instead, they accrue directly into the vault’s net asset value, meaning the price of each zvstBTC share gradually increases over time.
Initial deposits are capped at 10 BTC. That’s a deliberate constraint, not a limitation born of low demand. Capping early capacity lets the protocol stress-test the strategy with manageable risk before opening the floodgates.
Zest’s track record and the trust question Zest Protocol’s Stacks lending market has maintained a peak total value locked of over $100 million. More importantly, it has reported zero bad debt since launching in March 2024. The vault’s architecture relies on two key assets within the Stacks ecosystem: stBTC, issued by Stacking DAO, provides the base staking yield and serves as the primary collateral, while sBTC functions as the borrowable asset that enables the leverage loop.
What this means for Bitcoin DeFi A 6-8% target APY on Bitcoin is competitive with many Ethereum-based staking products. The Stacks network settles directly to Bitcoin’s base layer, which matters for the subset of investors who care deeply about where their trust assumptions actually live.
Zest has also introduced STX token incentives to encourage broader participation in the vault ecosystem.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Jupiter Exchange nově umožňuje swapovat INJ za SOL a SPL tokeny na Solaně bez wrapped verzí. Integrace běží na nativním INJ přes Sunrise bridge a byla spuštěna 17. září 2026.
INJ, the native token of the Injective protocol, is now swappable on Jupiter Exchange, giving Solana users direct access to the asset without needing wrapped versions or cross-chain workarounds. The integration went live on September 17, 2026, powered by Injective’s deployment on Solana through the Sunrise bridge.
How the integration works Jupiter’s routing engine aggregates liquidity from more than 20 Solana DEXes, including Raydium, Orca, and Meteora. When a user swaps SOL or any SPL token for INJ, Jupiter scans those venues to find the best available execution path.
The key detail: this is native INJ on Solana, not a wrapped derivative. The Sunrise bridge handles the cross-chain plumbing, minting INJ as an SPL token that behaves like any other asset in the Solana ecosystem. Users can hold it in Phantom, trade it on Raydium, or route swaps through Jupiter’s interface.
Jupiter’s Ultra mode layers on additional features for the swap experience, including auto-slippage adjustment and MEV protection. Auto-slippage dynamically sets tolerance based on market conditions, while MEV protection shields traders from sandwich attacks.
Raydium is listed as a launch partner, with additional DEX integrations expected to follow.
What this means for Injective and Solana Jupiter itself has come a long way since its October 2021 launch as a simple swap aggregator. The platform now offers perpetual contracts, lending services, and its own governance token, JUP, and its aggregation layer covers thousands of SPL tokens across more than 20 Solana DEXes.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
CFTC rozšířila výjimku pro pasivní kryptoměnový software, který může bez registrace jako broker připojovat uživatele k regulovaným derivátům. Na Tornado Cash se to ale nevztahuje.
The US Commodity Futures Trading Commission [CFTC] has widened regulatory relief for software companies that connect users to regulated derivatives markets.
The decision could help crypto wallets add access to products such as perpetual futures and event contracts without registering as brokers. But this new decision does not offer any direct protection to developers facing criminal allegations like those brought in the Tornado Cash case.
CFTC expands earlier Phantom relief The new no-action position was announced by the CFTC’s Market Participants Division on September 17.
It expands relief that was previously granted to crypto wallet provider Phantom in March. Other qualifying software companies may now rely on the same position without requesting individual permission.
What this means is that a crypto wallet could add a section where users view and trade regulated derivatives. The software provider could advertise the service, direct customers to a particular registered company, and receive a share of trading revenue.
It would not have to register as an introducing broker only because it provides those features, meaning it continues to operate ONLY as an interface to the trading venues and DOES NOT become a trading venue of its own.
Users only trade on CFTC-registered exchanges, so any intermediaries must be CFTC-registered too, and money remains at regulated companies and not with the software provider.
The provider is not allowed to control customer assets and decide on execution or signal buy/sell messages. Also, they would be requested to disclose information, retain records, and accept CFTC oversight.
Why it does not protect Tornado Cash developers The ruling also advances the discussion on when software developers can be considered financial intermediaries.
A company is deemed to be engaging in the business of brokerage when it only provides its customers with access to financial products, without taking in money or getting involved with people’s trading activities, by doing what was considered the duty of a financial broker.
But its legal reach is narrow.
While the CFTC letter only applies to registration under derivatives law, it does not bind the Justice Department or change other federal laws related to money transmission, sanctions, and money laundering.
Roman Storm was prosecuted due to the accusations of involvement in a crypto-mixing service, not just because of a software providing access to a registered derivatives company.
In the future, defendants may be able to appeal to the distinction between passive software and an active intermediary. Although this claim would be more persuasive than binding upon the court, and also only valid, subject to their non-possession of the necessary funds and the passivity in their participation in transactions.
Such an argument, in effect, could serve as defense to those running similar platforms.
Final Summary Approved software providers can link people to derivatives without being a broker.
It does not give developers relief from money transmission, sanctions, or money laundering allegations.
Sui Foundation varuje, že samotný audit chytrého kontraktu nestačí, protože pokrývá jen jednu verzi kódu v jednom okamžiku. Chce proto průběžné monitorování a nástroje pro sledování změn, chování i závislostí v ekosystému.
One Audit, One MomentThe @SuiNetwork Foundation is pushing back against the idea that a smart contract audit alone is sufficient protection. In a post published on September 17, the Foundation argued that an audit covers only one version of a codebase at one point in time, making continuous monitoring essential as code evolves and administrative permissions expand.
According to the Foundation's own blog post, past incidents on the Sui network illustrate the problem clearly. The lesson, as the Foundation frames it, is that security must account for dependencies and administrative authority, not just the logic written at launch.
The Foundation also pointed to a broader industry pattern. Someone, it argues, needs to map the connections between applications, identify where exposure is growing, and coordinate a response when shared infrastructure fails.
What Sui Is BuildingTo address this, the Foundation outlined a set of planned tools and infrastructure. The goal is to let teams verify that published source code matches what is actually running onchain, monitor changes in code and behaviour over time, and trace which applications depend on shared packages so that a vulnerability in one library can be assessed across the whole ecosystem. The tools are also intended to direct attention toward the contracts where value is most concentrated, on the basis that security resources should follow risk.
The Foundation has already taken steps in this direction. Following a series of DeFi incidents in summer 2025, it created a $10 million fund for ecosystem security, covering subsidised audits, formal verification, expanded bug bounties, and shared monitoring tooling. The new infrastructure push is described as the next phase of that effort.
the Foundation wrote, adding that security should begin before an application launches, continue as it changes, and follow where value is most exposed. An audit, it concluded, still matters. It just cannot carry the whole load.
Sources:
Sui Foundation: Security Should Follow Value
Sui Security Overview
An amendment under review by trusted validators could introduce a significant new financial tool to the XRP Ledger, enabling native borrowing of RLUSD stablecoin against XRP. The proposed amendment, called Permission Delegation and established on the XLS-75 standard, would allow XRP Ledger accounts to delegate transaction permissions without sharing signing keys.
Flare Network’s Vision for RLUSD on XRPLHugo Philion, co-founder of Flare Network—a blockchain network focused on smart contract interoperability—outlined a scenario where users could borrow RLUSD, a decentralized USD-pegged stablecoin, directly against their XRP. He proposed using Flare’s smart account technology so that RLUSD would be delivered on the XRP Ledger itself, rather than requiring users to move assets to other blockchains or exchanges.
For this feature to become a reality, the Wormhole bridge for RLUSD must be activated, and this process depends on validators approving the Permission Delegation amendment. Flare Network is known for facilitating interoperability between blockchains, aiming to expand DeFi access on networks such as XRP Ledger.
Mini dictionary: Wormhole bridge, a cross-chain protocol that enables asset transfers between different blockchains, allowing tokens like RLUSD to move between Flare Network and the XRP Ledger.
Philion stressed his ambition for users to directly borrow RLUSD using their XRP holdings via Flare smart accounts, receiving those funds natively on the XRP Ledger. He emphasized that for this to be achieved, both the Wormhole bridge for RLUSD and the Permission Delegation amendment must be in place.
Validator Voting ProgressThe amendment vote commenced with the launch of XRP Ledger’s version 3.3.0 on August 12, 2026. Data from XRPScan as of September 16 indicate that 23 out of 35 trusted validators have expressed support for the change, equating to a consensus rate of nearly 66%. The amendment will require at least 29 affirmative votes, representing over 80% validator approval, maintained over a two-week window for activation. Consequently, six more validators are needed before the amendment can be implemented.
The validator voting chart highlights gradual and steady growth in support, rising from zero at launch to the current levels, with the pace of adoption accelerating recently. While the outcome remains uncertain, the trend points towards broader acceptance.
RequirementCurrent SupportNeeded for ActivationTotal Validators3535Votes in Favor2329Consensus (%)65.71%80%+Potential Impact on XRP UtilityIf enacted, Permission Delegation would for the first time allow XRP holders to borrow RLUSD against their assets without leaving the strict confines of the XRP Ledger. At present, users seeking such liquidity need to rely on third-party exchanges or external protocols. Flare’s collaboration and the introduction of the Wormhole bridge infrastructure aim to address this limitation and promote XRPL-native lending.
Enabling on-chain collateralized borrowing is expected to appeal to institutions looking to deploy capital efficiently as well as retail holders seeking liquidity without sacrificing their XRP positions. This broader access to liquidity could attract new participants and increase the appeal of holding XRP within the ecosystem.
Bringing new financial tools such as on-chain RLUSD borrowing to the XRP Ledger strengthens its overall utility and encourages broader adoption by both individual and institutional participants.
By enhancing the productive use of XRP as collateral, the amendment and accompanying infrastructure could create fresh demand within the network. Supporters argue that such developments often correlate with heightened interest and potential price gains for the underlying token.
Interim Solutions and OutlookWhile the full integration awaits validator consensus, Philion highlighted that Flare is working on a temporary solution. Until the Wormhole bridge is fully operational, users will be able to receive borrowed RLUSD credits to their exchange accounts rather than directly to their XRPL addresses. The ultimate goal remains for validators to cross the 80% approval threshold, unlocking the envisioned cross-chain borrowing capabilities.
No timeline has been set for when the final votes may be cast, but the amendment’s gradual progress is being closely watched within the broader XRP and Flare communities.
Ethena Labs chce snížit závislost na pohybech Bitcoinu a přesouvá příjmy k tokenizovaným reálným aktivům a diverzifikovaným výnosům. Současně alokovala 200 milionů USD do fondu Janus Henderson Anemoy.
Ethena Labs founder Guy Young wants to do something most crypto projects treat as heresy: build a business that doesn’t live and die by Bitcoin’s mood swings.
The protocol behind the synthetic dollar USDe is actively restructuring its revenue model to reduce exposure to the crypto market’s most familiar gravitational force, shifting toward tokenized real-world assets and diversified yield sources that can generate returns regardless of where BTC trades.
The delta-neutral dilemma Ethena’s core product, USDe, launched publicly in February 2024 with a clever but inherently crypto-dependent mechanism. The protocol pairs spot crypto collateral, think staked Ethereum or Bitcoin, with short positions in perpetual futures contracts. The long and short sides cancel each other out (that’s the “delta-neutral” part), while the protocol captures funding rates and staking rewards as yield.
When the market is bullish and leverage-hungry traders are paying premiums to go long, those funding rates can be generous. When sentiment flips, the math gets less friendly.
This is precisely the dependency Young is trying to break. If your entire revenue engine runs on crypto derivatives markets, your business cycle mirrors crypto’s boom-bust rhythm almost perfectly. For a protocol trying to offer a stable dollar product, that’s a structural tension worth resolving.
The supply trajectory of USDe tells the story clearly. It peaked above $14 billion in October 2025, then contracted to approximately $4 billion by late August 2026. That kind of drawdown, roughly 70% from the high, underscores how sensitive the synthetic dollar’s appeal is to broader market conditions.
Real-world assets enter the picture Ethena’s most tangible move away from crypto-native revenue has been a $200 million reallocation into tokenized AAA-rated collateralized loan obligations, specifically the Janus Henderson Anemoy fund. CLOs are pools of corporate loans bundled into securities, and the AAA-rated tranches sit at the top of the repayment waterfall. They’re about as far from a memecoin as financial instruments get.
The logic is straightforward. By parking a meaningful chunk of reserves in yield-bearing traditional assets that exist entirely outside crypto’s price cycles, Ethena can generate baseline revenue even during prolonged bear markets. It’s a hedge against the hedge, if you will.
Young’s background makes this pivot less surprising than it might seem. Before founding Ethena Labs in March 2023, he spent roughly six years at Cerberus Capital Management, a firm that manages tens of billions in credit, real estate, and private equity. The playbook of diversifying across uncorrelated yield sources is standard practice in traditional finance. Applying it to a crypto-native protocol is the novel part.
Payments, audits, and the institutional play The real-world asset reallocation isn’t the only iron in the fire. On September 1, 2026, Ethena launched the beta version of Ethena Pay on the Avalanche network. The service lets USDe holders spend their synthetic dollars through Visa cards, with yields up to 6% and rewards tied to the ENA governance token.
Turning a yield-bearing stablecoin into something you can tap at a coffee shop is a meaningful step for adoption. It transforms USDe from a DeFi instrument into something that looks, from the user’s perspective, like a high-yield checking account with a debit card attached.
On the compliance front, Ethena recently completed a SOC 2 Type II audit without exceptions. For the uninitiated, SOC 2 Type II is an auditing standard that evaluates how a company handles data security and operational controls over time. Passing clean is table stakes for any fintech company courting institutional money, and it’s increasingly becoming a differentiator in crypto, where many protocols still operate without comparable oversight.
These moves collectively paint a picture of a protocol trying to cross the credibility gap between DeFi experimentation and institutional-grade financial infrastructure.
The governance side is evolving too. An approved fee-switch proposal would direct 95% of net revenue toward ENA token buybacks, but it comes with a catch: the mechanism only activates when USDe supply hits $7.5 billion. With supply currently sitting around $4 billion, that target roughly doubles the current outstanding amount. It’s an incentive structure designed to align token holders with protocol growth, though reaching that threshold will require reversing the supply contraction of the past year.
Ethena’s strategic direction reflects a broader pattern emerging across major crypto protocols. Tether, the dominant stablecoin issuer, has been diversifying its reserves into US Treasuries and other traditional assets for years. Hyperliquid and other DeFi platforms are similarly exploring revenue models that don’t rely entirely on crypto trading volumes or token price appreciation.
The common thread is a recognition that purely crypto-native business models are inherently cyclical. When Bitcoin rallies, everything works. When it doesn’t, protocols bleed users, revenue, and relevance. Building durable financial infrastructure requires income streams that persist through downturns.
For Ethena specifically, the question is whether the pivot happens fast enough to matter. A 70% contraction in USDe supply suggests that the market has already voted with its feet during the current cycle. The combination of real-world asset yields, payment functionality, and cleaner compliance credentials gives the protocol a different pitch to make on the next upswing.
Whether that pitch resonates depends partly on execution and partly on how the competitive landscape evolves. The synthetic dollar space is getting more crowded, and every protocol entering it is studying the same playbook of delta-neutral strategies and RWA diversification. Ethena’s head start and institutional credibility give it an edge, but maintaining that lead while USDe supply sits well below its peak will test whether the new model can actually deliver on the promise of cycle-resistant revenue.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Virtuals Protocol přidal do svého ekosystému další vrstvu. Overcall, platforma pro trhy založené na dovednostech, je spuštěna na Robinhood Chain s nativním tokenem $OVER, raženým přes Virtuals launchpad, s fixní nabídkou 1 miliardy tokenů.
Produkt zatím neběží jako plně operativní hlavní produkt; součástí rollout plánu je i privátní testnet na Robinhood Chain.
Virtuals Protocol just added another layer to its expanding ecosystem. Overcall, a skill-based market platform, has gone live on Robinhood Chain with a native token called $OVER, minted through the Virtuals launchpad with a fixed supply of 1 billion tokens.
The pitch: a decentralized, non-custodial market where users trade on price movements and outcomes, settled entirely onchain through oracle infrastructure.
What Overcall actually does Overcall’s first product is what the team calls a “channels-style skill-based market.” In practice, this means users can take positions on price outcomes, with settlement handled automatically through Chainlink Data Streams rather than any centralized intermediary.
The platform uses a shared onchain vault for settlement, meaning funds aren’t sitting in anyone’s custody while trades resolve. There are no backdoors baked into the smart contracts, according to the project’s documentation.
$OVER serves as the primary utility asset for all transactions on the platform. The tokenomics split the 1 billion supply across protocol liquidity, team vesting, community incentives, and other allocations designed to prioritize long-term usage over quick speculation.
The mainnet contract address is already public: 0x6245Db7f52379bD9757c9DdcE6519768FfaB3a4F.
The rollout timeline Overcall isn’t fully operational yet, which is an important distinction. The Token Generation Event has occurred and $OVER is live and tradable, but the actual skill-based market product is following a staggered launch.
A private testnet is currently running on Robinhood Chain. The next steps involve a public testnet phase, followed by a full mainnet deployment. The team has indicated that audits and staking mechanics are part of this phased approach.
The choice of Robinhood Chain as the deployment network is itself noteworthy. Since launching in July 2026, the chain has attracted thousands of agents and recorded significant transaction volumes, making it fertile ground for a product that needs active participants to function properly.
Where this fits in the Virtuals ecosystem Virtuals Protocol has been building toward agent tokenization and trading infrastructure for some time. The platform already facilitates the creation and trading of AI agent tokens, and the addition of Overcall represents an expansion into an adjacent but distinct market category.
The integration of Chainlink Data Streams for oracle-settled pricing addresses one of the persistent pain points in onchain prediction and trading markets: reliable price feeds. By outsourcing this critical function to established oracle infrastructure rather than building a proprietary solution, Overcall sidesteps the trust issues that have plagued projects relying on custom data sources.
What to watch going forward The staking mechanics mentioned as part of the roadmap will be worth monitoring closely. How $OVER staking interacts with market participation, whether stakers receive fee sharing or enhanced market access, could determine whether the token develops genuine demand-side pressure or simply trades as another speculative asset riding ecosystem momentum.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Virtune spustila obchodování s Hyperliquid ETP na varšavské burze, čímž otevřela Polákům přístup k HYPE v PLN bez kryptopeněženky. Jeden podíl odpovídá zhruba 0,1 HYPE.
17 September 2026 | 14:41 Virtune has listed its existing Hyperliquid ETP in Warsaw, giving Polish investors HYPE exposure through a PLN-traded security without requiring a crypto wallet.
Key Takeaways Warsaw is the ETP’s fourth exchange listing. Each unit represents approximately 0.1 HYPE. The annual management fee is 0.95%. Listing alone does not prove investor demand. Warsaw is the fourth listing, not a new product Virtune began trading its Hyperliquid ETP on the Warsaw Stock Exchange on September 17 under the ticker ETNVIRHYPE. It trades in Polish złoty and uses the same ISIN, SE0028425314, as the product’s other European listings.
A Polish investor can now place a PLN order through a broker that supports the Warsaw listing. Availability may differ between platforms, so the exchange debut does not guarantee that every local broker will offer it immediately.
The same ETP now trades on four exchanges
April 27 – Deutsche Börse Xetra
Ticker VRTH, traded in euros
July 7 – Nasdaq Stockholm
Ticker VIRHYPE, traded in Swedish kronor
July 7 – Nasdaq Helsinki
Ticker VIRHYPEE, traded in euros
September 17 – Warsaw Stock Exchange
Ticker ETNVIRHYPE, traded in złoty
The Polish listing is therefore an access expansion, not Europe’s first HYPE investment product. It also takes a different approach from Payward’s proposed regulated U.S. markets running on Hyperliquid, which concern derivatives infrastructure rather than ownership of this ETP.
Physically backed does not mean direct HYPE ownership According to the listing announcement, Virtune holds enough HYPE to cover the value of the outstanding securities. The assets are stored through Coinbase Custody and BitGo Europe, while a separate collateral agent represents investors.
The buyer receives a security in a brokerage account, not HYPE in a personal wallet. The position follows the token’s value, but it cannot be transferred to another blockchain address or used directly on Hyperliquid.
One unit currently represents about 0.1 HYPE “1:1 exposure” describes the backing and intended price relationship. It does not mean that one ETP unit contains one HYPE.
The official product page showed approximately 0.0996 HYPE per unit on September 16. The product had 200,000 units outstanding, net assets of around $1.56 million and a net asset value close to $7.80 per unit.
Virtune’s reported $320 million under management and more than 160,000 investors cover its entire business. Those figures should not be presented as assets or investors belonging to the Hyperliquid product.
A PLN 10,000 position costs about PLN 95 annually The ETP carries a 0.95% annual management fee. The charge is reflected in product performance rather than collected as a separate yearly payment.
PLN 10,000 × 0.95% = PLN 95
This is an illustration based on an unchanged position value. The actual fee effect varies as the ETP rises or falls.
Broker commission and the difference between buying and selling prices can add further costs. The product is not presented as a staking ETP, so investors should not expect HYPE staking rewards to offset the management fee.
Trading in złoty does not reduce HYPE volatility What the Warsaw listing changes
Investors can place orders in PLN through a compatible broker and hold the ETP beside conventional securities.
What it does not change
The position can still lose value when HYPE falls. A PLN quotation does not make the underlying token less volatile.
HYPE trades continuously, while the ETP follows Warsaw exchange hours. A large overnight or weekend move may therefore appear as a price gap when the market reopens. Virtune’s announcement does not describe a currency hedge, so PLN should be understood as the dealing currency rather than protection from currency movements.
Warsaw volume will provide the real answer The listing creates a route into the product, but Virtune has not disclosed Polish investor numbers, net inflows, trading volume or average spreads. Those figures will matter more than the number of exchanges displaying the same security.
Growth beyond the ETP’s current $1.56 million in assets would indicate new capital entering the product. Warsaw volume and spreads will show whether local investors can trade it efficiently. Until then, the product is easier to reach, but its Polish demand remains untested.
This article is provided for informational purposes only and does not constitute financial or investment advice. Crypto ETPs can lose value, and investors should review the prospectus, fees and product risks before investing.
Author
Alex is Editor-in-Chief of Coindoo and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
Garrett Jin vybral z Binance 35 001 ETH a poslal je na Hyperliquid v září 2026, aby navýšil short na Zcash za zhruba 51 milionů USD. Pozice je nyní v nezrealizované ztrátě přes 25 milionů USD.
Garrett Jin is not a man who quietly cuts his losses. The former CEO of BitForex pulled 35,001 ETH from Binance and routed it to Hyperliquid in September 2026, using the funds to deepen an already sizable short position on Zcash.
The move is notable for two reasons: the scale, and the timing. ZEC had been climbing when Jin expanded his position, which now sits at roughly 37,760 ZEC with a notional value of around $51 million.
A short position bleeding in real time Jin’s ZEC short is currently underwater by more than $25 million in unrealized losses, with ZEC trading near $1,400 at the time of the trade and his liquidation threshold sitting around $2,631.
To put that spread in perspective: ZEC would need to rally roughly 88% from Jin’s entry zone before he gets forcibly liquidated. That’s a wide buffer, but $25 million in paper losses is not a comfortable place to be sitting.
On-chain analysts have been watching Jin’s wallet movements closely for months. A deposit of roughly 577,000 ETH to Binance in May 2026 drew significant attention and flagged Jin as one of the largest individual movers on centralized exchanges this cycle. The current 35,001 ETH withdrawal is, by comparison, a smaller operational move, but directionally consistent: collateral flows from Binance outward, toward active trading positions.
The $250 million loss that didn’t slow him down Earlier in 2026, Jin closed a long ETH position with a realized loss of approximately $250 million. Jin’s response was to keep trading.
His track record isn’t uniformly grim, though. In late 2025, a major Bitcoin short delivered meaningful profits, demonstrating that his aggressive directional style can work. He also accumulated more than $11 million in cumulative profits from earlier ZEC short positions before his current trade turned against him.
Jin has pushed back on some of the scrutiny by noting that a portion of the funds tracked to his wallets belong to clients rather than himself personally. On-chain data, by its nature, doesn’t distinguish between proprietary capital and client assets, which makes independent verification difficult. The operational link between the entities, however, remains visible in the transaction patterns.
What traders should take from this The ZEC market is not especially deep by major-asset standards, which makes a $51 million short position a meaningful presence. A trader of Jin’s scale sitting short can suppress price action to a degree, but it also creates a feedback loop risk: if the position moves toward liquidation, covering that short means buying ZEC in size, which accelerates the price move against him.
That dynamic is not unique to Jin, but his public on-chain footprint makes the liquidation math visible to anyone paying attention. When a liquidation level is widely known, markets have a documented tendency to test it. The $2,631 liquidation threshold is not a secret.
For the broader decentralized-exchange ecosystem, Jin’s trading patterns illustrate how large players now move between centralized and decentralized venues. Binance serves as a liquidity reservoir: Jin deposits, accumulates, and withdraws ETH as his margin needs fluctuate. Hyperliquid handles the actual position.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Hyperliquid Strategies (NASDAQ:PURR) ve čtvrtek vzrostl o 8 % poté, co SEC schválila dočasnou výjimku pro obchodování tokenizovaných akcií na veřejných blockchainech. Jde o první takový krok pro on-chain obchodování amerických akcií.
Hyperliquid Strategies (NASDAQ:PURR) jumped 8% Thursday after the SEC approved the Innovation Exemption, a temporary order allowing tokenized stock trading on-chain for the first time.
What the SEC Actually DidThe SEC announced Thursday that it issued the Innovation Exemption, granting temporary relief to Tokenized Securities Venues to trade tokenized U.S. stocks on public blockchains using automated market makers.
The exemption also covers liquidity providers in those pools from the dealer definition under securities law.
“Today, the SEC is taking a significant step forward to bring America’s capital markets into the digital age,” SEC Chairman Paul Atkins said in a statement.
The exemption runs five years and carries strict conditions:
TSVs must verify tokenized stocks carry the same rights as traditional shares, including dividends and voting rights Smart contracts must be auditable, public, and deployed on permissionless blockchains Issuers can object and block their stock from trading on a TSV Trading halts on the primary exchange automatically halt the tokenized version TSVs must be US persons and comply with OFAC sanctions Why PURR Is Moving on This NewsPURR climbed 8% Thursday, with the market reading the Innovation Exemption as directly bullish for Hyperliquid’s tokenization infrastructure play.
The SEC order requires trading on public permissionless blockchains with auditable smart contracts, which sits squarely in Hyperliquid’s lane as a decentralized exchange built for high-speed on-chain trading.
Atkins framed Thursday’s move as a direct response to the CLARITY Act’s Senate defeat earlier this week, saying the SEC is stepping in to move markets on-chain within its existing authority while Congress works on permanent legislation.
What This Means for the Tokenization RaceThe Innovation Exemption is the clearest regulatory green light U.S. markets have seen for tokenized equities.
It gives venues a legal path to offer on-chain stock trading today, without waiting for Congress, while the SEC uses the five-year window to build a permanent framework based on what it observes in the market.
As Benzinga reported, Bernstein analysts expected the SEC and CFTC to move “aggressive and swift” on rulemaking after the CLARITY Act failed to advance. Thursday’s Innovation Exemption is the first concrete proof that prediction is playing out.
Key levels for PURR: $14.14 — August high, key target above $11.09 — 20-day EMA, must hold as support Photo via Shutterstock
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Zcash (ZEC) za posledních 24 hodin vzrostl téměř o 23 % a během dne dosáhl maxima přibližně 1 389 USD poté, co Paradigm zveřejnil, že jej drží v portfoliu. Komunita zároveň podpořila zkrácení doby mezi bloky z 75 na 25 sekund v rámci upgradu NU7.
Zcash (ZEC) surged nearly 23% in the past 24 hours, reaching an intraday high of approximately $1,389 on Thursday. This sharp rally far outperformed Bitcoin, which gained less than 1% and traded around $76,000 amid largely subdued market conditions.
Paradigm Reveals ZEC HoldingsThe rally in Zcash came after Matt Huang, co-founder of Paradigm, shared that the crypto investment firm holds ZEC in its portfolio. He described Zcash as a “private complement to Bitcoin,” attracting increased attention to the privacy-focused blockchain project.
Paradigm is a notable venture firm that invests in major cryptocurrency and Web3 projects, with a track record of backing some of the largest initiatives in the digital asset space.
Zcash’s surge coincided with Huang’s public disclosure, bringing renewed focus to ZEC’s role in privacy-oriented financial transactions as well as its perceived value proposition within the broader cryptocurrency ecosystem.
Highs Near $1,400 as Market RecoversAmid the rally, Zcash traded around $1,369 and briefly approached the $1,400 mark, according to pricing data. The surge occurred against the backdrop of a stabilizing crypto market following the latest Federal Reserve interest rate decision, which initially sparked some volatility.
While Bitcoin rebounded from its post-Fed dip, it remained relatively flat compared to Zcash’s rapid rise.
Coin24h ChangeIntraday HighCurrent PriceZcash (ZEC)+23%$1,389$1,369Bitcoin (BTC)< 1%$76,000$76,000The Zcash rally also followed a significant governance vote related to its upcoming NU7 network upgrade. Coin holders expressed strong support for reducing Zcash’s block time from 75 seconds to 25 seconds, which, if enacted, would allow for faster transaction processing across the network.
Additionally, 98.9% of voters favored maintaining Zcash’s halving schedule. Approximately 2.4 million ZEC participated in this poll, signaling significant community engagement but not immediate implementation of the proposals.
Mini dictionary: NU7, or Network Upgrade 7, is the next significant protocol update proposed for Zcash, aiming to improve performance and support community-chosen changes such as block time reduction.
The vote’s distinction lies in its consultative nature; it gauges sentiment but does not trigger automatic upgrades. Implementation will require further coordination among developers and validators.
Community support for both the proposed block time reduction and halving schedule demonstrates active engagement with Zcash’s future direction, though the changes are not yet live.
Outlook and Institutional InterestThe increased visibility from Paradigm’s endorsement, paired with a planned issuance model resembling Bitcoin’s halving events, has sparked renewed discussion about Zcash’s potential scarcity value. This narrative comes as Bitcoin’s institutional flows remain volatile, with ETF outflows in recent weeks highlighting market sensitivity.
For Zcash, the combined momentum from institutional acknowledgment and community-driven technical proposals has positioned it as a standout performer among major cryptocurrencies in the current market cycle. Market observers are now watching to see if ZEC can solidly move beyond the $1,400 level in the days ahead.
Clearpool chce rozšířit institucionální úvěrování na XRP Ledger a půjčky by měly být denominované v RLUSD. Spuštění závisí na schválení úprav XLS-65 a XLS-66 validátory XRPL.
Clearpool, a decentralized marketplace focused on on-chain institutional credit, has outlined plans to extend its lending stack to the XRP Ledger. The firm positions the move as its next growth chapter, arguing that XRPL is a mature network whose institutional credit market remains comparatively undeveloped.
Rather than simply porting existing products, Clearpool intends to build lending infrastructure that sits on the ledger’s own proposed primitives.
Those primitives are Single Asset Vaults (XLS-65) and the Lending Protocol (XLS-66).
Vaults would pool a single asset under defined management rules.
The lending standard would then use that pooled liquidity to originate, service, and repay fixed-term loans at the protocol level, with issuance, interest, repayment, and accounting handled as ledger operations rather than as conventional smart-contract logic.
Loans on the new stack are expected to be denominated in RLUSD, Ripple’s regulated dollar stablecoin, with institutional custody support from Hex Trust.
The XRPL effort builds on an earlier collaboration. Clearpool supplies the marketplace and vault infrastructure.
Ripple participates as a limited partner in the credit fund on the same terms as other investors, rather than as a backstop.
Clearpool says it has originated close to $1 billion in institutional loans since 2021, while Cicada cites more than $860 million in underwritten credit.
Together they present the XRPL deployment as a way to bring real-world, compliance-aware lending to a network that already embeds identity and permissioning features.
To fund incentives and expansion, Clearpool has put a governance proposal before tokenholders.
The plan pairs a treasury recapitalization with a 1:1 migration from CPOOL to a new token, CLEAR.
About 70 percent of the new supply would go to existing holders.
The remainder would be split among treasury, ecosystem, and contributors, lifting total supply modestly above the current one billion CPOOL.
Protocol fees would later support open-market buybacks and burns.
The vote is slated for Snapshot, and the company has framed the token change as inseparable from the XRPL product push rather than a standalone rebrand.
Mainnet launch still depends on XRPL validators approving the XLS-65 and XLS-66 amendments.
Related credit fund activity has already been tested on a development network.
Clearpool currently operates across several chains, including Ethereum, Optimism, Base, Arbitrum, Mantle, and Plume, and markets products ranging from T-bill-backed treasury pools to permissioned institutional credit and revolving facilities for real-world commerce.
The XRPL work is presented as an extension of that multi-chain liquidity layer into a network where settlement, compliance, and lending can sit closer to the base protocol.
If the standards activate and the community approves the token plan, Clearpool would become one of the first teams to run institutional-grade credit rails natively on XRPL.
The pitch is straightforward: pair an established credit marketplace with ledger-level vaults and loans, settle in RLUSD, and open a channel for fintech and payments firms that need short-term working capital on a network built for institutional settlement.
Útočníci během dvou hodin a pěti minut vykradli 1 552 D’CENT App Walletů a odnesli si 2 009 321 XRP. D’CENT uvedl, že incident se zatím týká jen softwarové App Wallet, ne hardwarových peněženek.
On the afternoon of Sept. 15, 2026, more than 1,500 crypto holders lost their XRP in a major attack that targeted the D’CENT app wallet.
Notably, between 16:29 and 18:34 UTC, a period of just two hours and five minutes, attackers drained 1,552 wallets and took a total of 2,009,321 XRP, worth over $2.8 million at the time.
All the affected users had at some point used D’CENT, a Korean wallet app and hardware-device maker with a large user base across Asia, the United States, the United Kingdom, and Canada.
Hours after the event, D’CENT warned users to move their funds immediately. The company said the incident appeared to affect only its software-based App Wallet and not its hardware devices.
Important Update Regarding the DCENT App Wallet
To date, abnormal asset transfer cases have been identified involving the DCENT App Wallet. So far, we have not confirmed any impact originating from DCENT Hardware Wallets themselves.
Please follow the guidance below based on how… pic.twitter.com/z0XYr4zMfD
— DCENT Wallet (@DCENTWALLETS) September 16, 2026
How the Attackers Drained 2M XRP Records reviewed by blockchain analytics resource XRPL.to show that the attack came in two waves and involved automated software.
The first wave started at 16:29 UTC with a small transfer. Specifically, the attacker moved 9 XRP from a wallet holding 10 XRP into a newly created address. Over the next 14 minutes, the script went through its target list and drained 204 wallets, collecting 19,787 XRP.
However, the script ran into a problem. About 30 seconds into the attack, it tried to empty a wallet holding slightly more than 49,207 XRP but failed.
This is because, besides the 1 XRP reserve required for each account on the XRP Ledger to maintain as a balance, they also need another 0.2 XRP for each additional object they hold, such as a trust line.
The script only allowed for the basic 1 XRP reserve. As a result, it could not drain wallets that held trust lines. When the first wave stopped at 16:44, the script had recorded 72 failed attempts.
The attacker then changed tactics. Notably, the automated script paused for 33 minutes, while another tool manually drained the 12 largest wallets on the target list. Each held more than 42,000 XRP.
The operator moved the funds one wallet at a time, with transfers coming roughly every 10 to 30 seconds, into a second newly created address. By 17:13, that address held 730,954 XRP, more than one-third of the total stolen amount. It has not moved any XRP since then.
At 17:17, the automated attack started again after the attacker fixed the reserve calculation. The updated script accounted for the extra reserve required for every object held by an account.
This second and much larger wave continued until 18:34. It drained another 1,336 wallets and collected 1,258,563 XRP. The script moved through the wallets at about 17.6 accounts per minute and calculated the required amount correctly in most cases.
The List Was Already in Hand The order of the targeted wallets shows how the attack was prepared. Interestingly, the attackers did not just look for wallets with the largest XRP balances. Instead, the script moved through the accounts almost in the same order in which they had originally been created.
XRPL.to analysts found a 0.65 correlation between the order of the attacks and wallet creation dates. The correlation between the attack order and wallet balances was only 0.09.
This suggests that the attackers did not scan the XRP Ledger in real time to find wealthy accounts. They appear to have already had a list of compromised wallets and then worked through that list.
This also suggests that the attackers had access to the private keys before the first transaction took place. The XRP Ledger records show exactly when the funds moved and where they went, but they do not show how the attackers obtained the private keys for the 1,552 wallets.
Looking to Cash Out the XRP The attackers also started moving the stolen XRP toward exchanges before they finished draining the wallets. At 18:25 UTC, while the second wave was still underway, more than 719,000 XRP moved to a new address. The operators then split the funds into smaller amounts.
This included 11 transfers of 6,000 XRP each to disposable wallets. These wallets then immediately deleted themselves into a laundering hub. The same process continued for about four hours. The first stolen funds reached Binance at 20:18 UTC.
In the early hours of Sept. 16, about 118,400 XRP moved through the Bridgers cross-chain bridge service in 10 separate transactions between 01:48 and 03:07 UTC. By around 05:30 UTC, several cash-out wallets had deleted themselves into a second laundering hub.
Notably, the laundering hub was also not new. It had been created on Aug. 9 through a KuCoin withdrawal and had already processed more than 1.36 million XRP through similar drains. This suggests that the Sept. 15 attack was the operation’s biggest day, not its first.
Who Got Hit, and What’s Still Unknown The affected wallets largely belonged to users who had been in crypto for several years. Most of the wallets had been created between 2021 and 2023. The youngest wallet on the target list dated to March 2024, and investigators found no newer wallets among the victims.
The wallets also showed links to several exchanges. Binance had originally funded about 15.7% of the affected wallets. South Korean exchanges Coinone, UPbit, and Bithumb collectively activated close to one-quarter of the compromised accounts. This is consistent with D’CENT’s large user base in South Korea.
By Sept. 16, about 1.8 million of the 2 million stolen XRP remained in wallets controlled by the attackers. Only around 236,000 XRP had reached an exchange or bridge. At press time, it remains unclear how the attackers first obtained the private keys.
SEC a CFTC oznámily, že budou připravovat pravidla pro kryptoměny samostatně, bez Kongresu, se zaměřením na XRP a Bitcoin. Obě aktiva byla v březnu 2026 klasifikována jako digitální komodity.
Bitcoin logo (public domain), by Grayliptrot via Wikimedia Commons (Public domain)
The U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have announced plans to establish cryptocurrency regulations independently of Congress. This move highlights the agencies’ commitment to a proactive regulatory framework for digital assets, particularly XRP and Bitcoin. In March 2026, both XRP and Bitcoin were classified as digital commodities, placing their regulatory oversight mainly under the CFTC. This classification suggests a commodity-style regulatory approach, although the SEC maintains authority over transactions involving investment contracts. The markets appear to be responding to this regulatory development with varied expectations for Bitcoin’s future price movements.
Key Takeaways The announcement by the SEC and CFTC suggests a proactive regulatory approach towards cryptocurrency. Markets are interpreting this development as potentially supportive of Bitcoin’s price, with some pricing reflecting increased confidence. Current market pricing implies skepticism about Bitcoin reaching higher price targets by the end of 2026, with low percentages for reaching $200,000. What to Watch Market participants will be closely observing any further regulatory announcements or guidelines from the SEC and CFTC, which could influence confidence in cryptocurrency markets. Additionally, developments such as potential legislative actions by Congress and Federal Reserve decisions on interest rates could impact Bitcoin price expectations. Observers should also watch for any significant institutional adoption or technological advancements that could affect market sentiment.
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Term Structure
Contract Odds Δ since publish Volume 24h December 31 1.1% 0.0¢ $754 View market → December 31 1.5% +0.1¢ $175 View market → December 31 2.5% 0.0¢ $615 View market → December 31 3.9% 0.0¢ $283 View market → December 31 5.5% 0.0¢ $2K View market → January 1 2027 19% 0.0¢ $10K View market → January 1 2027 6.5% -0.5¢ $107K View market → January 1 2027 1.7% 0.0¢ $5K View market → January 1 2027 1.1% 0.0¢ $4K View market → January 1 2027 1.5% 0.0¢ $38 View market → January 1 2027 3% 0.0¢ $400 View market → January 1 2027 4.9% 0.0¢ $1K View market → January 1 2027 9.5% -0.5¢ $4K View market → January 1 2027 18.5% +2¢ $38K View market → January 1 2027 4.5% 0.0¢ $5K View market → January 1 2027 0.9% 0.0¢ $26 View market → January 1 2027 1.9% 0.0¢ $2K View market → January 1 2027 13% +0.5¢ $6K View market → January 1 2027 6.5% 0.0¢ $348 View market → January 1 2027 3.5% 0.0¢ $2 View market → January 1 2027 1.9% 0.0¢ — View market → January 1 2027 2% 0.0¢ $231 View market → January 1 2027 1.4% 0.0¢ $5 View market → January 1 2027 0.4% -0.1¢ $256 View market → January 1 2027 0.4% -0.1¢ $2K View market → January 1 2027 26.5% 0.0¢ $9K View market → January 1 2027 62.5% +2.5¢ $7K View market → January 1 2027 64% +1.5¢ $28K View market → January 1 2027 41.5% 0.0¢ $1K View market → Updated 4min ago
XRP spot ETF přilákaly za dva dny 3,50 milionu USD bez odlivů, zatímco fondy na Bitcoin a Ethereum dohromady ztratily 1,11 miliardy USD. XRP se zároveň drží nad klíčovou zónou podpory 1,26 až 1,28 USD.
XRP (CRYPTO: XRP) spot ETFs pulled in $3.50 million over two days with zero outflows while Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) funds bled $1.11 billion combined.
What the ETF Flows ShowFranklin Templeton’s XRPZ (NYSE:XRPZ) drove the entire Sept. 16 inflow, adding 2.71 million XRP worth $3.50 million according to SoSoValue.
Cumulative XRP ETF inflows now stand at $1.72 billion with total net assets at $1.40 billion.
The divergence is hard to ignore: institutional money kept flowing into XRP even as the CLARITY Act failed to pass a procedural vote and the Fed’s first rate hike in three years triggered a broad retreat from crypto funds.
What Polymarket Traders Are PricingPolymarket odds for XRP price targets in September currently sit at:
That near-tie is not a coincidence. It mirrors exactly what the chart is showing: a market that broke out hard from $1.00 in late August, ran into resistance, and is now cooling with no clear directional conviction.
Why the Ripple-Stripe Integration Matters for XRPCoinDesk reported Thursday that Ripple updated its XRP Ledger AI Starter Kit to support the Machine Payments Protocol, a standard co-authored by Stripe and Tempo that lets AI agents pay for services automatically using XRP and RLUSD.
The update also adds the Open Wallet Standard, allowing software to manage wallets across multiple blockchains through one interface.
“XRP and RLUSD are first-class options wherever developers are building,” RippleX head of product Jazzi Cooper posted on X.
Ripple now backs both MPP and x402, the web payments standard it added in June, giving developers on either standard a path to accept payments on the XRP Ledger.
XRP Price Analysis: Key Levels to WatchXRP is trading flat Thursday, pulling back sharply after rejecting the $1.30 to $1.32 zone that held as support through most of September.
Price now tests the $1.26 to $1.28 support band that first launched the late August breakout from $1.
RSI at 46.29 sits at its weakest reading since before the breakout, with the 20-day EMA at $1.3447 now acting as resistance overhead rather than support below.
The setup is straightforward: holding the support band keeps the recovery structure intact and gives $1.40 a realistic path. Losing it opens the door toward $1.20.
Key levels for XRP: $1.40 — psychological resistance $1.34 — 20-day EMA, now resistance $1.25 to $1.28 — critical support band, must hold Photo via Shutterstock
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Upgrade Etherea Glamsterdam úspěšně prošel zkouškou před plánovaným nasazením na testovací síti Sepolia. Nethermind navíc zvládl všech 2 302 testů a ověřil vyšší limit gasu pro bloky na 200 milionů.
Ethereum’s Glamsterdam upgrade clears rehearsal for a big jump in capacity. (Ethereum)Summary
Ethereum’s Glamsterdam upgrade continued confirming blocks under new block-building rules, clearing a key test before a proposed Oct. 6 deployment on the Sepolia public test network.Nethermind’s execution software completed all 2,302 performance tests, demonstrating block-level access lists designed to enable parallel processing and support greater network capacity.Glamsterdam tested a 200 million block gas limit to accommodate more transactions and reduce fee spikes, though the setting is not yet planned for Ethereum’s main network.Ethereum’s latest rehearsal for its Glamsterdam upgrade continued confirming blocks after adopting new block-building rules earlier this week, clearing a key test before a proposed October 6 rollout on the Sepolia public test network.
Nethermind, software used by computers that run Ethereum, followed on Wednesday with a performance test covering one of Glamsterdam’s biggest changes.
Its client completed all 2,302 tests while processing 570.7 billion gas in three minutes and 15 seconds, an average of about 2.9 billion gas per second.
The benchmark measured Nethermind’s execution software rather than the speed of the full network. It tested block-level access lists, which tell Ethereum computers which accounts and stored data a block will use before they begin processing it.
That advance notice lets the computers fetch data and check unrelated transactions at the same time. Ethereum currently processes much of that work in sequence, limiting how much activity it can safely fit into each block.
Glamsterdam raised its block gas limit from 60 million to 200 million about an hour after going live on the testnet. Gas measures the computing work required by transactions, so the higher ceiling creates room for more payments, token swaps and other activity in each block.
How that helps EthereumA 200 million limit would let Ethereum absorb more activity before users begin outbidding one another for block space, which could make fee spikes less severe when trading surges or a popular token launch clogs the network.
Larger blocks are also harder to check and could leave smaller operators unable to keep up. Glamsterdam is Ethereum’s attempt to gain that extra capacity without making the chain prohibitively expensive to run.
Specialized builders package transactions, while validators check the resulting blocks and secure the chain. Glamsterdam would place that handoff and the accompanying payments inside Ethereum’s own rules, reducing dependence on outside relay services.
The change also extends the time available to spread block data across the network from about two seconds to nine seconds. That gives validators longer to receive and check the larger blocks Glamsterdam is designed to support.
As such, the 200 million limit remains a test setting rather than a commitment for Ethereum’s main network. Devnet-11 was also designed as a controlled rehearsal without deliberate attacks.
12345678910The Definitive Stablecoin Landscape Series: Asia Pacific
The Definitive Stablecoin Landscape Series: Asia Pacific
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
Sep 15, 2026
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
Why it matters:
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
Motoswap spustil na síti Ethereum decentralizovanou burzu s modelem sdílení poplatků pro poskytovatele likvidity, obchodníky, stakery MOTO, treasury a buy-and-burn. Při spuštění tokenu se otevírají dva pooly, TOKEN/ETH a TOKEN/MOTO, a likvidita je uzamčena natrvalo.
Abu Dhabi, Dubai, UAE, 17th September 2026, ChainwireBy Chainwire
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Abu Dhabi, Dubai, UAE, September 17th, 2026, Chainwire
Motoswap announces the launch of its decentralized exchange on Ethereum, introducing a trading model built on Uniswap v2's constant-product mathematics with fees distributed among liquidity providers, traders, MOTO stakers, the treasury and MOTO buy-and-burn.
Robinhood Chain went live in July with Circle's Arc following in September. This reflects the growing role of EVM networks in onchain activity and raises a question over why the DEX layer sitting on top of them has changed little in years.
According to the company, onchain volume is driven by memecoins and trench traders, by speed and attention rather than by settlement. They claim Uniswap became the default venue for that activity not because it was built for it, but because there was nowhere else to go. V3's concentrated liquidity was engineered for capital efficiency, which rewards professional market makers who can actively manage ranges and disadvantages participants who cannot. V4 opened the door to customization but changed little about what an ordinary participant receives for providing liquidity or trading, and that same architecture is now being shipped to every new chain that launches. The gap is not liquidity or throughput. It is that major venues treat the trader as the source of fees rather than as a participant, taking fees from the people generating the volume and returning nothing. Motoswap was built on a different assumption.
The launch mechanics follow the same logic. A token deployed through Motoswap opens two pools, TOKEN/ETH and TOKEN/MOTO, with the LP burned inside the launch transaction, nobody holds the claim ticket, so nobody can pull the liquidity, not the creator and not the protocol. Half of that MOTO pool is locked under the token permanently, which means demand for new tokens is demand for MOTO as a matter of mechanics rather than narrative. Creators get the thing Solana solved and the EVM never did: a 0.2% cash cut of their own token's trades, claimable without ever selling into their own chart. On Uniswap v2 the deployer earns nothing and has exactly one way to get paid, which is to sell. That single plumbing difference is most of why launches went to Solana and stayed there.
The framing is deliberate. Most DEXes were built like an on-chain NYSE, waiting for institutions that never showed up while retail paid every fee and got nothing back. Motoswap is built as a casino on purpose, with the rake wired into the contracts and pointed at the players. Rakeback is a casino word, used knowingly.
Few projects have challenged Uniswap as significantly since SushiSwap's 2020 campaign, which moved more than a billion dollars in liquidity within a week. Everything since has been forks, aggregators and interfaces, all competing on price or routing while accepting Uniswap's incentive model as settled law, none of them touching the thing that actually decides where volume lives, which is who gets paid. Motoswap does not ask traders to accept worse execution, bridge somewhere unfamiliar, or trust a new curve. It runs the same constant-product math that carried every major EVM player. The traders get paid for simply executing. A deployer gets paid in cash instead of selling their own chart. An LP keeps the largest slice and farms on top of it. Every seat at the table is better than the seat it replaces. The Motoswap primitive solves the gap, sees the opportunity and revolutionizes the EVM landscape.
About Motoswap
Motoswap is a decentralized exchange built on Ethereum that routes the majority of every swap fee back to the people who generate it. Traders receive Rakeback in cash on every trade, MOTO stakers share protocol revenue, and tokens launched on Motoswap open with liquidity permanently locked. Motoswap is expanding to all major EVM blockchains.
JPYC Inc. po chybě v mintování pozastavila emisi na Ethereum i Polygon. Po spuštění obchodování na Upbitu cena na sekundárním trhu údajně vyskočila zhruba na 3 JPY.
JPYC Inc., the issuer of Japan’s yen-pegged stablecoin, suspended issuance reservations on both Ethereum and Polygon on September 17 after discovering a glitch in its minting process. The timing could not have been worse: the pause landed on the same day South Korean exchange Upbit began listing the token, creating a perfect storm of surging demand and frozen supply.
The result was predictable. Secondary market prices for JPYC, a token designed to trade at 1 JPY, reportedly spiked to approximately 3 JPY.
What happened and why it matters JPYC Inc. initially paused issuance reservations only on Ethereum after confirming the glitch. Shortly after, the company extended the freeze to the Polygon network as well, signaling the problem was not isolated to a single chain deployment.
The company issued a public apology to users and said it was actively investigating the root cause. As of the announcement, no technical explanation for the disruption had been provided.
JPYC operates through its JPYC EX platform, which allows users to mint and redeem tokens at a 1:1 ratio with the Japanese yen. Each issuance request is capped at 1 million JPY per transaction, roughly $6,700 at current exchange rates. When that minting pipeline gets shut off, anyone wanting fresh JPYC has to turn to the secondary market, where prices are set by whatever buyers are willing to pay.
The Upbit listing opened JPYC trading against KRW, BTC, and USDT, though only Ethereum-based deposits and withdrawals were accepted. Trading kicked off at 18:00 KST after initial delays, pouring Korean retail demand into a market where new supply had been temporarily switched off.
The Upbit listing adds fuel to the fire With JPYC’s minting mechanism offline on both Ethereum and Polygon, the only tokens available were those already circulating. New demand from Korean traders had nowhere to go except into existing liquidity pools and order books, pushing prices well above the intended peg.
A stablecoin trading at three times its peg signals that the arbitrage mechanism keeping the token anchored to its reference currency has broken down. Normally, if JPYC trades above 1 JPY, arbitrageurs would mint new tokens at the 1:1 rate and sell them at a profit, pushing the price back down. With minting suspended, that pressure valve was effectively sealed shut.
JPYC’s regulatory position and multi-chain footprint JPYC Inc. is registered with Japan’s Financial Services Agency for funds transfer businesses, making it one of a relatively small number of stablecoin issuers operating within a clear regulatory framework.
JPYC is deployed across several EVM-compatible blockchains, including Ethereum, Polygon, Avalanche, and Kaia. The multi-chain strategy is designed to give users options for lower transaction costs and faster settlement times. But it also means that a glitch affecting the issuance system can cascade across multiple networks, as happened here when the Polygon pause followed the Ethereum one.
The fact that Upbit only accepted Ethereum deposits and withdrawals for JPYC added another layer of complexity. Users holding JPYC on Polygon or other chains could not easily move their tokens to the exchange where demand was hottest, further fragmenting liquidity across the token’s ecosystem.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
BlackRock přesunul přes Coinbase Prime BTC a ETH za 62 milionů USD, což podle článku naznačuje přeskupení jeho držby. Jde jen o malý zlomek jeho celkových zásob.
BlackRock’s latest wallet activity points to a sizable repositioning across its Bitcoin [BTC] and Ethereum [ETH] holdings, with $62 million moving through Coinbase Prime.
The transfers involved 656.71 BTC worth about $49.79 million and 5.15K ETH worth roughly $12.28 million. Most Bitcoin moved in two 300 BTC transfers, valued at $22.87 million and $22.64 million, while another 56.71 BTC added $4.28 million.
Source: Arkham Meanwhile, its tracked portfolio holds 787.349 K BTC with a total value of $60.15 billion and 3.556 million ETH worth $8.68 billion. As such, the recent Bitcoin transaction represents a very minor percentage of BlackRock’s overall stated holdings of Bitcoin.
Source: Arkham Similarly, the recent ETH transaction represents a relatively minor increase to BlackRock’s previously stated holdings.
While the aforementioned transactions do not demonstrate whether the assets are supporting ETF operations or longer-term custodial services. Subsequent wallet transactions will better indicate how BlackRock intends to utilize the funds.
BlackRock’s ETF holdings hold firm BlackRock’s overall ETF holdings show the broader position BlackRock had behind the transfers it made with IBIT and ETHA. IBIT holds about 795K BTC, while ETHA holds roughly 3.6 million ETH. Both funds have retained substantial holdings despite major price declines.
Source: CryptoQuant IBIT’s holdings fell only 9% from nearly 800K BTC in 2025 to the July 2026 low, while Bitcoin lost more than 50%. Since then, the holdings in IBIT have increased to be near the highest level previously seen.
Similarly, ETHA’s holdings decreased by 30% from their peak of 4 million ETH to 2.8 million ETH when Ether decreased by over 60%. However, those holdings have now increased back to 3.6 million ETH.
Source: CryptoQuant These results demonstrate that BlackRock’s overall ETF exposure has remained resilient through the downturn.
These two funds represent approximately 4% of Bitcoin’s total circulating supply and approximately 3% of Ethereum’s total circulating supply. Therefore, these positions give BlackRock a sizable presence in both markets.
Institutional demand loses momentum The trend of flow-shifting was made clear as ETFs for Bitcoin and Ethereum had enjoyed August demand in the month of August. In the weeks ending 4 September, Bitcoin-based ETFs brought in $986.85 million, while Ethereum-based ETFs brought in $218.41 million.
Source: SoSoValue Bitcoin then recorded $462.73 million in weekly outflows by the 11th of September, while Ethereum still attracted $197.11 million. The divergence narrowed after the 15th of September, when Bitcoin lost $450.33 million and Ethereum shed $141.47 million.
Source: SoSoValue On the 16th of September, both assets suffered greater losses than they did previously, with Bitcoin losing $295.90 million and Ethereum losing $224.11 million. The timing of these losses occurred as investor sentiment worsened due to a Senate setback regarding the CLARITY Act.
Together, the flows show institutional demand weakening across both assets, limiting ETF-driven support for prices.
Final Summary BlackRock’s Bitcoin and Ethereum holdings remain resilient despite market volatility. Rising BTC and ETH ETF outflows now weaken institutional demand and buying support.
Cardano vybral mezi 1. zářím 2025 a 1. zářím 2026 jen 3,3 milionu ADA na poplatcích, zatímco stakingové odměny dosáhly 493,7 milionu ADA. Poplatky tak pokryly jen asi 0,67 % výplat.
New on-chain data has put a hard number on one of Cardano's most debated long-term questions: can network fees ever carry a meaningful share of staking rewards?
According to an analysis by blockchain data provider Bitquery, Cardano collected 3.3 million $ADA in transaction fees across 73 epochs between September 1, 2025 and September 1, 2026. Over the same period, the network distributed 493.7 million ADA in staking rewards. The result: fees accounted for roughly 0.67% of total reward payouts, or about one ADA in fees for every 150 ADA paid out to stakers.
Reserve Emissions Still DominateThe shortfall is not a bug in Cardano's design, at least not yet. The treasury takes 20% of that pot, with the remainder distributed to stake pools based on performance. The reserve is deliberately structured to shrink over time.
The problem is that fees have not grown fast enough to offset declining reserve emissions. A snapshot of epoch 654 illustrates the scale of the challenge: 108,500 transactions generated just 33,855 ADA in fees across five days, equivalent to around 21,700 transactions per day and 0.251 transactions per second. Fees in that single epoch covered only 0.339% of the roughly 9.998 million ADA distributed in rewards.
Daily transaction volumes tell a similarly sobering story. Cardano averaged 90,294 transactions per day in 2022. From January through August 2026, that figure dropped to 24,869, a decline of more than 72%, according to Bitquery's count.
The Path to Fee SustainabilityCardano's original economic design anticipated this transition. That handoff has not yet materialised at the volumes required.
Planned protocol upgrades could expand the network's capacity. However,
Organic demand from decentralised applications, DeFi, and everyday users will ultimately determine whether fee income can close the shortfall. For now, the numbers are stark: 3.3 million ADA in fees against 493.7 million ADA in rewards. The reserve continues to shrink each epoch. Growing on-chain activity is not just a metric worth watching. It is increasingly central to Cardano's economic future.
Sources:
CryptoSlate: Cardano fees covered just 0.7% of staking rewards as transactions fall 72%
Input Output: Cardano is ready to grow. Leios is how it gets there.
Cardano Docs: Monetary Policy
Ducat se integroval se sítí TRON a rozšiřuje využití USDT pro rychlejší a levnější on-chain vypořádání v bitcoinové finanční infrastruktuře. Na TRON zároveň přichází wUNIT jako TRC-20 reprezentace bitcoinem krytého dolaru UNIT.
British Virgin Islands, British Virgin Islands, September 17th, 2026, FinanceWire
Ducat today announced its integration with the TRON network, broadening the use of USDT (TRC-20) for faster, lower-cost on-chain settlement and liquidity movement across Ducat’s Bitcoin-native financial infrastructure.
Through the integration, Ducat users can use USDT as a primary settlement asset and access wUNIT, the TRC-20 representation of Ducat’s Bitcoin-backed dollar, UNIT, on the TRON network. UNIT remains issued against BTC on Bitcoin, while wUNIT enables that value to move across TRON and interact with USDT liquidity. Users can hold wUNIT or swap it directly for USDT through a dedicated stablecoin liquidity pool, while liquidity providers can supply both assets and receive a share of swap fees generated by the pool.
The integration connects Ducat’s Bitcoin-native credit engine with TRON’s stablecoin network while keeping Ducat’s underlying collateral and issuance on Bitcoin. The architecture cleanly separates the roles of each layer: Bitcoin provides the underlying value and collateral, Ducat manages the monetary and credit logic, and TRON provides the scalable settlement environment. This gives Bitcoin-backed liquidity a direct route into TRON’s stablecoin ecosystem, supporting payments, capital movement, and other on-chain financial workflows.
“Ducat brings Bitcoin-backed value into TRON’s robust stablecoin ecosystem, which already has more than $94 billion in circulating USDT” said Sam Elfarra, Community Spokesperson at TRON DAO. “TRON users gain access to another digital dollar, while Bitcoin holders gain more ways to put their liquidity to work across the network.”
“UNIT was designed to let Bitcoin holders access dollar liquidity without handing their BTC to a custodian,” said David Evans, CEO of Ducat. “The TRON integration turns that model into something people can use across one of crypto’s largest stablecoin networks. wUNIT will arrive as a TRC-20 token, swap directly against USDT, and move back to Bitcoin through the same bridge. The integration can put Bitcoin-backed credit into the flow of stablecoins people already use every day.”
The integration reflects a shared focus between Ducat and TRON on expanding stablecoin utility beyond trading-driven activity. By combining Bitcoin-backed value, Ducat’s monetary infrastructure, and TRON’s scalable settlement network, the integration connects Bitcoin-backed credit with a stablecoin ecosystem built to support payments, liquidity, and broader financial activity at scale.
About Ducat
Ducat is a Bitcoin Layer 1 credit and stablecoin protocol that lets Bitcoin holders borrow dollars against BTC without handing their assets to a third-party custodian. Its credit stack is built and enforced on Bitcoin. Ducat is backed by Hivemind and CMS and is an incubatee of CMC Labs. It built the first Bitcoin-native oracle with Chainlink.
TRON DAO is a community-governed DAO dedicated to accelerating the decentralization of the internet via blockchain technology and dApps.
Founded in September 2017, the TRON blockchain has experienced significant growth since its MainNet launch in May 2018. Today, TRON hosts the largest circulating supply of USD Tether (USDT) stablecoin, which currently exceeds $94 billion. As of September 2026, the TRON blockchain has recorded over 404 million in total user accounts, more than 15 billion in total transactions, and over $27 billion in total value locked (TVL), based on TRONSCAN. Recognized as the global settlement layer for stablecoin transactions and everyday purchases with proven success, TRON is “Moving Trillions, Empowering Billions.”
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Bitget rozšířil své Proof of Reserves z 4 na 19 aktiv, včetně BTC, USDT a ETH. Uživatelé si tak mohou nově ověřit i svá aktiva v širším rozsahu rezerv.
Bitget, one of the world’s largest Universal Exchanges (UEX), has upgraded its Proof of Reserves (PoR) from four cryptocurrencies to 19 major assets, significantly widening the share of user holdings covered by its reserve verification infrastructure. The upgrade extends both platform-level reserve disclosures and personal Proof of Assets verification, giving users greater visibility into how assets held on Bitget are accounted for and the ability to independently verify their inclusion in reserve snapshots.
As exchanges expand the range of assets they support, reserve transparency needs to keep pace. The latest upgrade moves Bitget closer to making verification a standard layer across its ecosystem, rather than a safeguard limited to core cryptocurrencies.
The expanded coverage includes BTC, USDT, ETH, LTC, LINK, XRP, USDC, DOGE, BNB, SOL, ADA, NEAR, XAUT, TAO, SUI, ONDO, HYPE, PI, and USDGO. Through the upgraded PoR page, users can view the reserve ratio and amount of user assets for each supported asset, assess if reserves are sufficient, and see how user assets are distributed across different public blockchains.
Personal Proof of Assets verification has expanded across the same range, allowing users to independently check whether their holdings were included in a PoR snapshot using Merkle Tree verification. Detailed audit records, including Merkle hashes and snapshot information, remain available for users seeking deeper verification.
Bitget has published Proof of Reserves monthly since its launch in December 2022. As of August 2026, the platform had published 45 consecutive PoR reports, with its latest report showing a total reserve ratio of 122%, remaining above the 1:1 reserve standard. Bitget uses Merkle Tree technology to aggregate and verify user assets, allowing users to independently confirm whether their holdings are included in a particular Proof of Reserves snapshot. Users can also download the relevant data and further verify their asset records using publicly available verification methods.
“Users shouldn’t have to simply take our word for it, they should be able to verify their assets for themselves,” said Gracy Chen, CEO of Bitget. “Proof of Reserves has been part of Bitget’s transparency framework for nearly four years, and as the assets people hold on our platform become more diverse, that verification needs to expand with them. Expanding from four assets to 19 gives more users that visibility.”
For assets outside the scope of a particular audit, or where corresponding personal records have not yet been generated, Bitget’s Proof of Assets interface provides relevant notices to help users interpret their audit results accurately. As UEX brings a broader range of assets and markets into one trading environment, Bitget is extending the systems that allow users to independently examine what sits behind their holdings. Proof of Reserves, the Protection Fund, and Bitget’s broader security infrastructure form part of that approach, with the goal of making security increasingly measurable and verifiable as the ecosystem grows.
For more information, visit here.
About BitgetBitget is one of the world’s largest Universal Exchanges (UEX), serving over 125 million users and offering access to over 2M crypto tokens, 500+ tokenized stocks, ETFs, commodities, FX, and precious metals such as gold. The ecosystem is committed to helping users trade smarter with its AI agent, which co-pilots trade execution. Bitget is driving crypto adoption through strategic partnerships such as MotoGP™. Aligned with its global impact strategy, Bitget has joined hands with UNICEF to support blockchain education for 1.1 million people by 2027. Bitget currently expands in the tokenized TradFi market, providing the industry’s lowest fees and highest liquidity across 150 regions worldwide.
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BNB Chain zpřístupnila vývojářům zdarma cenové feedy pro bStocks, což má zlevnit a zjednodušit integraci tokenizovaných akcií do DeFi. Feedy běží přes APRO Oracle a podporují nejméně 12 bStocks včetně NVDAB a TSLAB.
BNB Chain just opened up its bStocks price feeds to builders at no cost, removing one of the quieter friction points in decentralized finance: paying for reliable asset pricing data.
The price feeds are powered by APRO Oracle, which currently supports data for at least 12 bStocks, including tokenized versions of heavyweights like NVIDIA (NVDAB) and Tesla (TSLAB). Making these feeds free effectively lowers the barrier for any protocol on BNB Chain that wants to integrate tokenized equities into its product stack.
What bStocks actually are bStocks are BEP-20 tokens on BNB Chain that represent 1:1 backed shares of actual US equities, held in regulated custody. They went live on June 11, 2026, and the adoption curve has been steep.
By late July, bStocks had crossed $500 million in market capitalization. Cumulative on-chain trading volume during that initial stretch reportedly landed somewhere between $7 billion and $20 billion, depending on the source.
The tokens trade around the clock, support self-custody withdrawals to wallets on BNB Smart Chain, and handle dividends and stock splits automatically.
Ecosystem integrations already span Trust Wallet, Binance Web3, and decentralized exchanges like PancakeSwap.
Why free oracle feeds matter By offering bStocks price feeds at zero cost, BNB Chain is essentially subsidizing the composability layer. A developer building a margin trading platform for tokenized equities no longer needs to negotiate oracle contracts before writing their first line of code.
The APRO Oracle integration also addresses a problem specific to tokenized stocks: market-hour mismatches. Traditional US equities trade during fixed hours. Tokenized versions trade 24/7. That gap creates pricing challenges, because the reference price from the New York Stock Exchange doesn’t update at midnight UTC. APRO’s dedicated feeds are designed to handle this disconnect, providing continuous pricing that reflects actual on-chain liquidity conditions.
Venus Protocol, one of the largest lending platforms on BNB Chain with more than 35 markets, already uses a multi-oracle strategy to manage exactly these kinds of risks. Lista DAO has gone even further, supporting over 40 bStocks pairs for lending and staking operations.
The bigger picture for tokenized equities bStocks are backed by actual shares sitting in custody, not synthetic exposure instruments or loosely pegged derivatives. A lending protocol accepting bStocks as collateral needs to trust that the underlying asset is real, that the price feed is accurate, and that liquidations will function correctly during volatile market conditions. The combination of regulated custody, dedicated oracle infrastructure, and free access to pricing data builds each layer of that trust stack.
For traditional investors, the appeal is straightforward: hold your equity exposure on-chain, earn yield by lending it out or staking it through DeFi protocols, and collect dividends automatically.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Genius Foundation spustila na BNB Chain platformu Genius.fun, která propojuje tvorbu tokenů s tokenizovanými akciemi a komunitní budování treasury kolem veřejně obchodovaných společností. Platforma míří i na koordinaci akcionářských kampaní a potenciálně i na místa v představenstvu.
Genius Foundation has launched Genius.fun on BNB Chain, giving crypto communities a platform to create tokens, build treasuries with tokenized public-company shares, and coordinate shareholder campaigns.
Summary
Genius.fun lets communities pair newly created tokens with tokenized stocks and several crypto assets. The platform presents board campaigns and hostile takeovers as possible uses of accumulated equity. Creators can receive up to 1.25% of trading fees, while 0.25% funds token buybacks. Tokens graduate to PancakeSwap after reaching a threshold of 15 BNB. In a Sep. 17 press release shared with crypto.news, Genius Foundation said that the new launchpad connects community-created tokens with tokenized public equities, allowing participants to pool capital around a company and accumulate exposure to its shares.
The platform presents the model as a way for online groups to move beyond meme-based trading and organize around corporate ownership. According to the Foundation, communities could use an accumulated position to support shareholder proposals, seek board representation, run an activist campaign or pursue an acquisition.
Such actions would require more than holding a community token. The Foundation said eligible tokenized positions may be redeemed for the underlying equity, but the rights available to users would depend on the structure of each paired product and its issuer.
Genius.fun links token launches with tokenized shares Rather than offering only a standard meme-token launch, Genius.fun allows creators to choose a trading pair that may include BNB, USDT, USDC, or tokenized assets from Ondo, bStocks, xStocks and 4Stocks. More markets are expected through a product called gPerps, according to the announcement.
Trading activity is intended to help a community build a treasury that can acquire additional assets. Genius Foundation said the approach could turn online attention into a pool of capital tied to real-world companies, although it did not disclose how treasury decisions, voting power, or asset custody would be managed for each community.
Creators may collect up to 1.25% of trading fees generated by their tokens. Another 0.25% is directed toward token buybacks and supply locking, according to the platform’s stated fee model.
From the token’s trading page, users can monitor its progress from launch through graduation. A token becomes eligible to move to PancakeSwap once it reaches 15 BNB, with the decentralized exchange serving as Genius.fun’s graduation partner.
The model differs from simply buying a token that tracks a company’s share price. An economic interest tied to a stock does not always give its holder voting rights, access to dividends, or recognition on the company’s official shareholder register. The exact legal claim depends on how the token is issued and whether it is backed by the underlying security.
Coinbase CEO Brian Armstrong recently addressed the same distinction when he called for full backing of tokenized equities with real securities. Coinbase’s offshore structure holds underlying shares through a special-purpose company and a regulated U.S. broker, while verified holders can request redemption. Its products remain unavailable to U.S. persons and are not registered under the U.S. Securities Act.
Community ownership could support activist campaigns Genius.fun frames community tokens as capital-formation tools that can organize people around a selected public company. After launching a market, participants could grow its treasury and use the accumulated share position to seek influence.
At a large enough scale, the Foundation said a community could request a board seat, coordinate an activist campaign or attempt a hostile takeover. Investment banks, private-equity firms, hedge funds and specialist activist investors have traditionally led such transactions.
A hostile takeover generally involves an effort to gain control of a company without approval from its existing board. Genius.fun has not announced a specific company targeted by its users, nor has the Foundation said that any community has accumulated enough shares to begin such a process.
The launch announcement instead describes hostile takeovers as a possible future use. Any campaign involving a listed U.S. company would still face securities laws, ownership disclosure rules, corporate governance procedures and limits contained in the company’s governing documents.
Armaan Kalsi, CEO of Shuttle Labs, described the launch as a new form of crypto-based corporate coordination.
“We’re excited to see what happens when crypto native communities launch capital formation vehicles with 2 clicks and, for example, potentially do things like vie for board seats,” Kalsi said.
He added that a capital-formation tool able to influence companies in the physical economy was “inherently exciting.”
U.S. rules make ownership rights central For American investors, the difference between a fully backed share token and a synthetic product is especially important because price exposure alone does not establish corporate ownership.
On Sep. 17, the U.S. Securities and Exchange Commission granted five-year relief for eligible tokenized securities venues. The conditional framework permits approved platforms to trade tokenized National Market System stocks through permissioned automated market makers and liquidity pools.
Under the SEC order, an eligible tokenized share must carry the same rights and privileges as the conventional share it represents. Synthetic products that merely track a stock through a derivative do not qualify for the relief, according to the regulator.
Venues must also notify an issuer before listing a tokenized version of its stock and cannot proceed if the company objects. Smart contracts must be public and auditable, while trading in the token must stop when the primary exchange halts the underlying security.
The SEC’s conditions matter to the corporate-action model proposed by Genius.fun. A community seeking voting influence would need ownership rights connected to the underlying shares, not only a token whose price follows the stock. Genius Foundation did not state whether the platform would seek access to the SEC exemption or make its services available to U.S. users.
American ownership rules can also require public filings once an investor or coordinated group crosses certain thresholds. Whether members of a decentralized community would be treated as a group would depend on their agreements, conduct, and the facts of a particular campaign; the launch announcement did not provide a legal structure for such cases.
Tokenized stocks are adding on-chain uses Alongside ownership experiments, crypto platforms are building other services around tokenized equities. Kraken recently introduced xStocks vaults for SPYx, QQQx and NVDAx, which track the SPDR S&P 500 ETF, Invesco QQQ ETF and Nvidia shares.
Kraken allocates deposited tokens to on-chain lending markets through an embedded, noncustodial wallet. The initial displayed annual percentage yields were about 2% for SPYx and QQQx and 1.8% for NVDAx, with a 25% performance fee already deducted from the quoted rates.
Genius.fun is taking a different route by combining token creation, trading fees and community treasuries with a proposed path toward shareholder action. Genius Foundation said users can begin by creating a token, selecting a trading pair and building a treasury around the company they want to influence.
The Cayman-based Foundation describes its work as infrastructure for permissionless markets, collective ownership and decentralized economic coordination. Genius.fun is live on BNB Chain, while token graduation takes place through PancakeSwap after the platform’s 15 BNB threshold is met.
Bottomline spustila Global Pay Connect na infrastruktuře Chainlink, čímž dává více než 600 bankám přímý přístup k on-chain vypořádání bez změny jejich systémů.
Bottomline Goes On-Chain With Chainlink@BottomlinePay has officially launched Global Pay Connect, a new payment platform built on Chainlink's blockchain infrastructure, giving its network of over 600 global banks a direct path to on-chain settlement without overhauling their existing systems.
Bottomline ranks among the top three SWIFT service providers globally, processing more than $16 trillion in payments each year across its platforms. The scale of that footprint makes the Chainlink integration notable: it puts blockchain-powered payment rails within reach of institutions that already depend on Bottomline for their daily financial messaging operations.
The solution relies on two core components of Chainlink's stack. CCIP handles cross-chain messaging and the transfer of tokenised value across networks, while the Chainlink Runtime Environment coordinates payment workflows end-to-end. Together, they allow a single connection to reach multiple blockchain networks, public and private, rather than requiring banks to build separate integrations for each one.
Critically, participating banks do not need to change their core operational procedures. Institutional clients can interact with distributed ledger networks through standard ISO 20022 messaging protocols via a single, network-agnostic point of connectivity. That matters in a market where SWIFT messaging is deeply embedded in bank operations and costly to replace.
A Concrete Step Toward Institutional Blockchain AdoptionJohann Eid, Chief Business Officer at Chainlink Labs, described the rationale plainly: "Global Pay Connect enables hundreds of financial institutions to use their existing infrastructure to access onchain payment rails through a single, network-agnostic connection."
The Bottomline deal extends Chainlink's broader push into traditional finance. Chainlink's Project Pangea already links more than 50 banks across Europe and South Korea that together manage over $10 trillion in assets, targeting same-day settlement for foreign exchange trades using regulated stablecoins. The Bottomline partnership adds considerably more institutional scale to that effort.
It is worth noting that the announcement represents an agreement and a platform launch rather than confirmed live transactions across all 600-plus banks. No committed transaction volumes or a public go-live date for individual banks have been released. Even so, the fact that a top-three SWIFT provider has embedded Chainlink's interoperability tools into a commercially available product marks a meaningful step toward connecting traditional payment infrastructure with on-chain settlement.
Sources:
Bottomline Official Press Release: Global Pay Connect Launch (GlobeNewswire)
Bottomline Taps Chainlink to Bring 600 Banks On-Chain (PYMNTS)
Bottomline Partners With Chainlink to Connect Swift Banks to Onchain Payments (Crowdfund Insider)
Zcash za posledních 24 hodin vzrostl asi o 20 % poté, co spoluzakladatel Paradigm Matt Huang potvrdil, že firma koupila blíže nespecifikované množství ZEC. Huang zároveň uvedl, že Paradigm drží podíl v Zcash Open Development Lab.
Zcash gained about 20% over the past 24 hours as Paradigm co-founder Matt Huang disclosed that the crypto investment firm made an unspecified purchase of ZEC, the privacy-focused token that has been outperforming a broader rise across crypto markets.
Zcash (ZEC), a cryptocurrency that enables users to make shielded transactions that conceal addresses and transaction amounts using zero-knowledge proofs, traded around $1,338 at last look on Thursday. Its surge came in the wake of Huang’s Wednesday post revealing that Paradigm is an investor in the Zcash Open Development Lab (ZODL) as well as a ZEC token holder.
Today’s more than 10% rise extends ZEC’s one-month increase to roughly 160%, compared to Bitcoin’s (BTC) 18.2% rise in the same period, according to Coingecko data.
Huang described Zcash as a “private complement to Bitcoin” and backed its inflation-funded developer fund, arguing that long-term funding remains important as AI-driven cyber capabilities and quantum computing advance. He also said he supported combining Zcash coin voting with other forms of governance to reduce unpredictability as a monetary asset.
Huang’s governance comments follow a coinholder poll on NU7, Zcash’s next major upgrade, in which 99.9% of participating ZEC holders backed cutting target block times from 75 seconds to 25 seconds, and 98.9% voted to leave the halving schedule and issuance unchanged. Developers aim to finalize the upgrade’s contents by Sept. 30, and activation dates have not been set.
Paradigm’s investment in the wider Zcash ecosystem was already public. In March, ZODL announced a seed round of more than $25 million that included Paradigm, a16z crypto, Coinbase Ventures and Winklevoss Capital.
ZEC’s rise came as the broader crypto market advanced after the Federal Reserve raised rates by 25 basis points to 3.75%-4%, its first increase since 2023.
Privacy coins have also substantially outperformed the wider market. Glassnode data showed the sector was 213% above its level at Bitcoin’s October 2025 peak, while a basket excluding ZEC was up about 85% over the past year.
This article is produced in accordance with Cointelegraph's Editorial Policy and is intended for informational purposes only. It does not constitute investment advice or recommendations. All investments and trades carry risk; readers are encouraged to conduct independent research.
Zcash (ZEC) rallied 16% in the past 24 hours, reaching $1,382 and outpacing a broader cryptocurrency market that posted losses following the CLARITY Act’s failure in the US Senate and a Federal Reserve interest rate hike.
Market performance and trading volumeBitcoin momentarily slipped below $75,700 on Wednesday before recovering to $76,500. Meanwhile, Ethereum traded above $2,440 amid overall cautious sentiment. In contrast, Zcash recorded a sharp uptrend, accompanied by a 14% increase in trading volume over the same period, signaling robust market participation.
Zcash’s resilience stood out as most major cryptocurrencies struggled following heightened regulatory uncertainty. The CLARITY Act failed to pass a Senate procedural vote, reducing expectations for comprehensive US digital asset legislation in 2026. The Federal Reserve also raised rates by 25 basis points to a new range of 3.75%–4%, a move that added pressure to traditional and crypto markets alike.
Despite the negative backdrop, Zcash has advanced approximately 163% since the start of the year, making it one of the top performers among large-cap coins. The token’s rise also pushed it ahead of Hyperliquid’s HYPE token in market capitalization after HYPE fell 6.5% over the past week.
Zcash’s surge was supported by increased adoption of its privacy features. According to ZecHub, shielded transactions comprised 47% of recent network activity. These ensure that information such as sender, recipient, and transaction amounts are concealed, underpinning Zcash’s core value proposition.
Zcash completed its migration to the Ironwood vault, a significant technical upgrade for the network. The Ironwood vault aims to improve long-term security and support additional privacy features for users.
Mini dictionary: Ironwood vault, Zcash’s latest protocol upgrade focused on enhanced privacy and security for shielded transactions on the network.
Zcash users supported proposals linked to the upcoming network upgrade, NU7, which aims to reduce block spacing from 75 seconds to 25 seconds while maintaining the Bitcoin-style halving schedule. Nearly 2.4 million ZEC participated in the voting out of a possible 3.6 million eligible tokens.
Further bolstering confidence, Zcash Labs allocated $80,000 to integrate the Ironwood pool with Ledger hardware wallets, allowing ZEC holders self-custody options.
Social sentiment and activity trendsDespite the price rally, recent data showed a dip in Zcash-related social-media mentions, with the seven-day moving average falling beneath the 30-day average. Analysts monitor this so-called “bearish crossover” as a potential early signal of waning speculative interest among retail participants.
The recent upward movement could reignite community discussion, but if social engagement remains weak while prices rise, it may suggest a divergence likely to impact future momentum.
Still, trading volume remains strong, reinforcing that institutional and active market participant interest has not faded with the latest spike. Reported 24-hour volume increased by 14%, pointing to healthy liquidity around ZEC during this move.
Technical outlook: $1,750 target and wider market risksZcash’s daily chart currently reveals a bullish consolidation pattern, following its move toward $1,400. Technical analysts suggest a confirmed break above $1,300 supports a possible move to $1,750. Should momentum persist, longer-term targets could approach $2,500, predicated on the recent breakout above an ascending triangle formation.
However, the token’s ability to reach these levels will hinge on continued privacy-focused demand and broader crypto market conditions. The Fed’s latest rate hike has increased uncertainty, and Zcash’s resilience as the market digests tighter monetary policy could be a deciding factor in its near-term performance.
Fortitude Mining Holdings oznámila definitivní fúzi výměnou akcií s HeartSciences; po schválení bude nová společnost obchodována na Nasdaq pod tickerem TUDE. DCG si ponechá zhruba 95% podíl.
Fortitude Mining Holdings, the Zcash-focused mining operation wholly owned by Digital Currency Group, has announced a definitive all-stock merger agreement with Nasdaq-listed HeartSciences Inc., announced on June 23, 2026. If approved, the combined entity will trade on the Nasdaq Capital Market under the ticker TUDE, with DCG retaining roughly 95% ownership and HeartSciences shareholders holding a minority stake.
From Bitcoin to Zcash Fortitude isn’t dabbling in ZEC mining as a side project. It’s the company’s entire thesis. As of May 31, 2026, the operation was producing an annualized output of approximately 157,000 ZEC, supported by a power portfolio exceeding 60 MW spread across seven US sites. A new 12 MW facility in Grand Island, Nebraska, was energized in July 2026, adding fresh capacity to the network.
The company also placed a $31.5 million purchase order for 9,000 Bitmain Antminer Z15 Pro miners, a hardware commitment designed to boost its hash rate by roughly 7.56 GSol/s.
The numbers behind the Nasdaq play Fortitude’s financials suggest the bet is paying off, at least for now. The company reported Q2 2026 revenue of approximately $20.9 million and adjusted EBITDA of around $8.5 million. For the full year of 2025, revenue came in at roughly $89 to $90 million, with 2026 tracking toward significant growth on the back of rising ZEC prices and expanded mining capacity.
Those numbers position Fortitude as a meaningful revenue generator within DCG’s portfolio, which also includes Grayscale Investments. The decision to take Fortitude public through a reverse merger with HeartSciences, a small medical device company, lets Fortitude inherit HeartSciences’ existing Nasdaq listing. DCG’s 95% ownership stake means existing shareholders won’t face significant dilution.
Why Zcash, and why now Fortitude’s singular focus on Zcash sets it apart from virtually every other publicly traded miner. The overwhelming majority of listed mining companies, from Marathon Digital to Riot Platforms to CleanSpark, are Bitcoin operations. Fortitude’s vertically integrated model, where it mines, holds, and operates its own infrastructure, means it captures more of the value chain than miners who rely on third-party hosting or immediately liquidate production.
What to watch as the merger progresses The transaction is expected to close in the second half of 2026, subject to regulatory approvals and the standard shareholder votes.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Fortitude Mining jmenovala bývalou šéfku Hut 8 Jaime Levertonovou novou generální ředitelkou před plánovaným vstupem na burzu přes fúzi s HeartSciences. Levertonová nahradí 21. září Andreu Childsovou, která přejde na pozici provozní ředitelky. Firma v 1. pololetí 2026 vytěžila 72 696 ZEC.
Fortitude Mining has appointed former Hut 8 CEO Jaime Leverton as chief executive as the Zcash-focused miner prepares to go public through a proposed merger with HeartSciences. Leverton will succeed Andrea Childs as CEO on Sept. 21, with Childs moving to chief operating officer.
Fortitude mined 72,696 ZEC in the first half of 2026, accounting for about 28% of the network’s total production during the period. The company reported revenue of $20.9 million for the second quarter.
It operates more than 60 megawatts of power capacity across seven sites in South Dakota, Nebraska, Texas and New York, and in July agreed to purchase 9,000 Bitmain Antminer Z15 Pro machines, which are expected to add 7.56 GSol/s of equihash hashrate. Shipments are expected in the fourth quarter.
Fortitude, wholly owned by Digital Currency Group, has mined ZEC since 2019 and launched as a vertically integrated mining platform in 2025.
The company announced its proposed combination with HeartSciences in June, with the transaction expected to close in the fourth quarter of 2026 and bring Fortitude to the public markets. The combined company is expected to trade on Nasdaq under the ticker TUDE, subject to approval.
Leverton previously served as CEO of Hut 8, where she oversaw the Bitcoin miner’s merger with US Bitcoin Corp. and its transition into a US-domiciled Nasdaq-listed company. Current CEO Andrea Childs will transition to the chief operating officer role.
Zcash surges amid Paradigm investmentZcash continued its rally on Thursday, with ZEC, the native token of the blockchain designed to enable private transactions using zero-knowledge proofs, trading around $1,424. The token has gained about 185% over the past 30 days and more than 2,600% over the past year, according to CoinGecko.
The latest gains came after Paradigm co-founder Matt Huang disclosed Wednesday that the crypto investment firm holds ZEC and is an investor in the Zcash Open Development Lab.
Huang described Zcash as a “private complement to Bitcoin” and backed its inflation-funded developer fund, arguing that long-term funding for privacy technology is increasingly important as artificial intelligence and quantum computing advance.
Over the past year, privacy-focused cryptocurrencies have outperformed the broader crypto market. As of Sept. 6, the sector was up 213% from Bitcoin’s October 2025 peak, while every other crypto sector tracked by Glassnode remained below its level at the time.
ZEC accounted for 62% of the privacy sector’s market capitalization, according to Glassnode data. Excluding ZEC, the firm’s cap-weighted basket of privacy tokens was still up 85% over the past year.
Source: Glassnode
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Only a few days after launching native quantum accounts after the Algorand v5.0.0 upgrade, Pera Wallet has helped Algorand cross 1,000,000 post-quantum resilient transactions.
What's behind the number A significant share of the quantum transaction volume is coming from Pera's commemorative NFTs, signed using FALCON signatures, a NIST-selected post-quantum signature scheme, earned by connecting a quantum account and checking how many post-quantum transactions it's sent. There are three tiers: 1, 100, and 1,000 transactions. Each tier unlocks its own 3D collectible (3D support is a new feature within the recently released Pera 7).
Try it yourself To learn more about native PQ accounts and how to create one, follow these steps:
Open Pera Wallet and click your account in the upper left corner Tap + to add an account, then select “Add Quantum Account,” and name it That’s it. If you already have an account you want to continue using? You can rekey that one instead and keep your same address and history.
Once you have a quantum account, it works just like any other account for signing transactions. That includes minting an ASA, which counts toward the total and comes out post-quantum resilient, with no extra setup needed.
Create a quantum account, participate in post-quantum transactions, and claim your NFTs.
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Aave na Monad za 46 dní vybudoval svůj třetí největší trh podle tržeb a získal přes 79 000 USD na protokolových příjmech. Trh držel TVL ve výši 321 mil. USD a byl pátý z 21 nasazení Aave podle TVL.
Aave deployed on Monad on July 2, 2026, with 12 markets live at launch. At the 46-day mark, it held $321m, ranking fifth of 21 Aave deployments by TVL and third by weekly fees. It also generated the second-highest weekly fees of any protocol on Monad. At that point, the market held 94% of the syrupUSDC supplied to Aave protocol-wide, and US savers depositing by bank transfer had put $3m into the market inside a day. All of this occurred during a year in which industry-wide DeFi TVL had fallen 39%.
Unless otherwise noted, market data reflects conditions at the 46-day mark or activity during the first 46 days following Aave's deployment on Monad.
The deployment problem2026 has been a year of capital leaving DeFi across the board. Industry-wide total value locked fell from roughly $115B in January to around $70B, declining every month. Capital that stayed onchain became more selective, including moving toward venues where the yield came from borrowers rather than emissions.
Those conditions make it significantly more challenging to launch a new lending market. Most lending deployments on young chains attract supply or borrow demand first and hope the other side follows. Aave did not have to.
When Aave deployed, Monad was seven months into mainnet with roughly $450m in DeFi TVL, deep USDC and USDT0 circulation, and yield-bearing dollars including Maple's syrupUSDC already onchain. Supply, as well as the assets worth borrowing against, were both in place before the market opened.
Low-friction deploymentFull EVM bytecode equivalence meant Aave's existing codebase could be deployed without changes. No contract rewrites or bespoke integration work was required. Chainlink feeds and cross-chain governance messaging were already live, giving Aave the price data and governance infrastructure needed to launch without building bespoke supporting systems.
Parity reduces the engineering barriers to deployment and leaves the decision to whether the assets, liquidity, demand, and complementary protocols needed for a productive market are already in place. On Monad, they were.
Rather than starting with a smaller initial market and expanding it over time, as is common for new markets, Aave went live with all 12 assets on day one, with six borrowable immediately. Yield-bearing and LST assets were supply-only in the first configuration. Risk providers published pre-listing assessments for syrupUSDC and sUSDe before launch, which is why 12 markets could open at once rather than being staged over a quarter.
Monad was also the first Aave market to launch with Chainlink Smart Value Recapture enabled from day one, routing part of liquidation value back to the protocol instead of leaking it to searchers.
Beyond liquidation economics, network performance affects how quickly lending markets can respond as conditions change. Liquidations finalize inside Monad's finality window, while composability with other Monad protocols avoids the additional latency of cross-chain messaging.
A July 23 upgrade narrowed that window further, cutting Monad's block times from 400ms to 300ms and finality from 800ms to 600ms. For a lending market, that speed is critical because the interval between an oracle update and a settled liquidation is the window in which bad debt can form.
The market became productive quicklyAt the 46-day mark, Aave's Monad market ranked fifth of Aave's 21 deployments by TVL and third by weekly fees. Fees outrunning size showed that capital was being borrowed rather than parked. $318m was drawn against $659m supplied, with $750k+ in cumulative fees since launch.
That performance came in a month when Aave was tightening its own portfolio. On July 29, four weeks after Aave's Monad launch, risk provider LlamaRisk filed a proposal under the Aave Risk Framework to wind down deployments generating less than $5,000 in quarterly protocol revenue, on the reasoning that maintaining an oracle, monitoring and a reliable liquidation path costs more than those markets return.
Monad's deployment produced over $79,000 in protocol revenue in its first 46 days and was running above $24,000 a week. Monad had already generated more than fifteen times the quarterly revenue threshold Aave's framework used to identify deployments for wind-down.
Why the market workedComposability is usually described as a count of protocols, but it's better understood as a count of uses per dollar.
A yield-bearing stablecoin on a chain with no money market does exactly one thing: it earns its native yield. The moment a lending venue accepts it as collateral, the same token, unchanged, becomes a borrowing base. Nothing was minted and no new capital arrived, but a dollar that had one use now has two.
syrupUSDC demonstrates this. At the 46-day mark, Maple's yield token circulated on six chains, with $206m of its $1.3b supply on Monad, second only to Ethereum and more than double the next largest chain's share. The concentration was sharper inside Aave; of the $217m of syrupUSDC supplied to Aave protocol-wide, over $204m was on Monad.
At that point, Aave's syrupUSDC market was, in practice, a Monad market. Nobody minted new syrupUSDC to make that happen. A venue opened that would lend against it, and the supply moved toward a market where it could also be used as collateral.
The carry trade at the center of this market needs yield-bearing dollars, a deep money market, liquid stablecoins to borrow, fixed-income markets to term it out through products like Pendle PTs, and risk infrastructure to price all of it, simultaneously, on one chain.
The pattern repeats as new sources of capital connect to the same market. Nook is a US savings app built by the team that ran Coinbase's DeFi lending pilot, with over $1B in transactions processed and yield sourced from borrower interest on vetted lending protocols. When it opened access to Aave's USDC market on Monad, customers put in more than $3m inside 24 hours, roughly $2m of it in the first few hours. Nook attracted 476 unique depositors, with Monad accounting for more than 13% of its active depositor base at the time.
84% of Nook's deposits arrived by ACH or wire, straight from a bank account. Most of those depositors would not describe themselves as crypto users, and millions of dollars reached an onchain lending market without any of them touching a bridge, exchange, or seed phrase.
MetaMask's Money Account reaches the same economy from the crypto-native side. It launched on Monad on June 30, 2026 with a self-custodial mUSD balance earning up to 4% variable APY, spendable through a Mastercard-accepted card, with the yield sourced from DeFi lending rather than from the issuer.
Card spending pulls directly from the underlying balance, so the balance can continue generating yield until it is spent. Deposits route through Veda vaults with risk curation by Steakhouse Financial, with Aave among the live allocations at the 46-day mark. One balance that spends is also a balance that lends.
Capital that arrives and leaves is rented. Capital that becomes collateral, generates borrow demand, and returns as a savings balance funded by bank transfer turns a collection of assets and applications into an economy.
At the 46-day mark, stablecoin supply on Monad eclipsed $706m, up more than 8% over the prior week. The full path from a US bank account to a money market is wired end to end, which is the part that takes the longest to build.
The direction of travel held against the industry. By the 46-day mark, Monad had posted the largest one-month TVL gain of any of the ten largest chains, in a week when seven of those ten shrank. Monad DeFi TVL stood at $934m across 168 protocols, roughly double where it stood when Aave deployed.
What this means if you're buildingThe market's performance reflects the pieces a DeFi deployment needs to become productive. A deployment does not have to create every side of its market from scratch. Existing assets become collateral, collateral creates borrow demand, and consumer and distribution products can route additional capital back into the same underlying markets.
Neutrality matters, too. Settlement layers are sticky, and independently governed protocols need infrastructure they can build on without depending on a competing application operator. On neutral infrastructure, Aave can retain its own governance while other products route users and capital into its markets, without either side controlling the other. Six weeks after Aave launched on Monad, MetaMask, a wallet with millions of users, was already routing deposits into the same market.
Anything that runs on Ethereum runs on Monad unchanged. The collateral and credit layer is already deep enough to build against at size, and the core market data cited here is publicly queryable, including on DefiLlama, rather than taken on faith.
A protocol deploying on Monad can connect into an economy that is compounding with an existing ecosystem of assets, liquidity and applications rather than bootstrapping each component from scratch.
TakeawayIn a year when the DeFi sector lost 39% of its capital, Aave built its third-largest fee-generating market on Monad in six weeks, while fixed-income and consumer products connected additional uses and sources of capital to the same underlying economy.
