HIVE Digital Technologies staví expanzi těžby Bitcoinu v Paraguayi na levné vodní energii a má tam už 300 MW hydroelektrické kapacity. Firma cílí na globální hashrate 25 EH/s v roce 2025 a 35 EH/s v roce 2026.
HIVE Digital Technologies is doubling down on Paraguay as the centerpiece of its Bitcoin mining expansion, with the company’s newly appointed country site president outlining a vision built on clean energy, disciplined growth, and operational leadership in one of South America’s most energy-rich nations.
Gabriel Lamas, who took over as HIVE’s Country Site President in March 2025, has been vocal about what he sees as the recipe for sustainable Bitcoin mining: cheap hydroelectric power, careful scaling, and strong on-the-ground management.
Paraguay’s power advantage
The country sits downstream from the Itaipú Dam, one of the largest hydroelectric power plants on the planet. HIVE operates two major facilities in the country: a 200 MW site at Yguazú, acquired in early 2025, and a 100 MW facility at Valenzuela, completed the same year. Combined, that’s 300 MW of hydroelectric-powered mining capacity.
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Paraguay generates far more hydroelectric power than its domestic economy can absorb. That surplus energy, sometimes called “stranded” power, sits there doing nothing unless someone finds a use for it. Bitcoin mining fits that gap almost perfectly.
Lamas brings over 20 years of experience in the industry to the role, including prior work with Bitfarms, another publicly traded mining company. According to HIVE, his leadership has exceeded operational expectations during the phased scaling of the Paraguayan sites.
The hashrate targets
HIVE is targeting a global hashrate of 25 EH/s (exahashes per second) in 2025 and 35 EH/s in 2026. The jump from 25 to 35 EH/s in a single year would represent a 40% increase. That’s aggressive, particularly in a post-halving environment where Bitcoin mining rewards were cut in half in April 2024. After a halving, miners earn fewer Bitcoin per block, which means only the most efficient operators survive and thrive.
Beyond Bitcoin: the AI infrastructure play
HIVE has been developing its BUZZ platform, which is designed to support AI and high-performance computing (HPC) workloads alongside traditional mining operations. The idea is that the same infrastructure, power supply, and cooling systems that serve Bitcoin miners can also serve the rapidly growing demand for AI compute.
The company trades on both Nasdaq and the TSX under the ticker HIVE, giving it access to both US and Canadian capital markets.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Strategy v roce 2026 prodala zhruba 6 916 BTC za asi 431 milionů USD, přestože Michael Saylor dál tvrdí, že jeho osobní Bitcoin nikdy neprodá. Společnost drží 840 447 BTC.
Two of the most famous Bitcoin bulls in the world made the same promise. Here is exactly what happened next, and why the distinction between them matters.
President Donald Trump said it in Nashville in July 2024, standing in front of the largest Bitcoin conference crowd in history. "Never sell your Bitcoin." He said it again at the White House Crypto Summit in March 2025 when Bitcoin was trading near $90,000.
Michael Saylor said it at least five documented times between 2022 and 2026, in interviews, on stage, and on X. The phrase became crypto's most repeated conviction statement.
On August 3, 2026, Saylor posted: "When I say 'Never Sell Your Bitcoin,' I speak as one saver to another. I have never sold mine. Not one Satoshi. Strategy is a public company, not my wallet."
On the same day, Strategy filed with the SEC disclosing it had sold 1,638 BTC between July 27 and August 2 at an average price of $63,957 per coin, roughly 15 percent below the company's average acquisition cost of $75,385.
The Strategy scorecardStrategy has sold Bitcoin several times in 2026. In late May, 32 BTC went first, the smallest sale but the one that broke the psychological barrier. Then 1,363 BTC for $80.8 million at end of June.
Then 2,225 BTC for $135.2 million in early July. Then 1,638 BTC for $104.73 million between July 27 and August 2.
Then 1,690 BTC for $108.6 million between August 3 and August 9. Total Bitcoin sold in 2026: approximately 6,916 BTC for roughly $431 million, all at prices below the company's average cost of $75,385 per coin.
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Current holdings stand at 840,447 BTC. MSTR shares are down approximately 70 percent over the past 12 months and trading near $97.
Trending on TheStreet Roundtable:Cathie Wood trims Ethereum exposure on 11th anniversaryU.S. Treasury attacks Iran's Hormuz 'extortion' networkJPMorgan issues blunt warning on crypto's futureThe Trump distinctionTrump's situation is different and requires accuracy. Trump personally still holds Bitcoin, his financial disclosure confirms a cold wallet position above $50 million, untouched.
The "never sell" promise he made is technically still intact at the personal level. However, Trump Media, his separately managed company, has moved approximately 7,281 BTC to exchange addresses in 2026, though transfers to exchanges do not automatically confirm sales, and Trump Media has denied selling its Bitcoin holdings.
What the phrase actually means nowSaylor's clarification on August 3 drew the line cleanly: his personal Bitcoin remains unsold. Strategy's company Bitcoin is a different calculation, one driven by $1.26 billion in annual preferred stock dividends that require cash the company does not always have without selling something.
The "never sell" message was always directed at retail investors holding their own coins.
The companies built on top of that message operate under different constraints entirely.
Společnost Evernorth Holdings, podporovaná Ripple, upravila podmínky subscription agreements pro svůj private placement v rámci plánované fúze s Armada Acquisition Corp II, aby bylo vydáno méně akcií a na každou připadalo více XRP. Firma zároveň 13. srpna podala k SEC šestou úpravu registračního prohlášení S-4.
Ripple-backed XRP treasury Evernorth Holdings on Thursday said it has amended subscription agreements for its private placement related to its proposed merger with Armada Acquisition Corp II. It means fewer shares issued and more XRP behind every share ahead of Nasdaq listing.
Ripple-Backed Evernorth Holdings Nears Merger and Nasdaq Listing
Evernorth Holdings, the Ripple-backed XRP treasury, filed amendment no 6 to its Form S-4 registration statement with the U.S. Securities and Exchange Commission (SEC) on August 13.
The Ripple-backed firm claimed it has strengthened public investors’ positioning as it advances toward a Nasdaq listing. This structure is expected to reduce the total number of shares issued, focusing the company’s net asset value across fewer shares. This means each share will represent a larger portion of Evernorth’s XRP holdings.
The amendment is intended to maintain alignment between the company’s capitalization and the market value of its underlying XRP holdings at closing. It will be a volume-weighted average XRP price, rather than $2.36, as of when the merger agreement was signed.
“Tying the share count to XRP’s value at closing is the right thing to do for Evernorth and our investors,” said Asheesh Birla, founder and CEO of Evernorth Holdings.
Notably, Evernorth Holdings has raised over $1 billion from investors including Arrington Capital, SBI Group, Ripple, Pantera Capital, Kraken, and GSR, among others.
XRPN Stock Jumps
Armada Acquisition Corp II’s XRPN stock price has retained its upside momentum despite XRP price drops and Clarity Act delays. XRPN stock hits a new YTD high of $10.50 in premarket hours on Thursday.
The stock closed 0.19% higher at $10.48 on Wednesday. The intraday low and high were $10.45 and $10.49, respectively. Trading volume is also rebounding as Ripple-backed Evernorth Holdings nears a merger after finalizing employment agreements.
XRPN stock is up 2.54% year-to-date as investors await Armada Acquisition Corp’s stockholders and the SEC’s approval of the merger with Evernorth Holdings.
Nasdaq-listed stock has surged nearly 0.30% in the past month, with potential for further upside moves. The 52-week high is $10.91.
Armada Acquisition Corp II’s XRPN Stock Price. Source: Google Finance
Meanwhile, XRP price is trading in the $1-1.02 range after falling more than 3% in a week. The price is currently trading at $1.01, down more than 1% over the past 24 hours.
Furthermore, trading volume has dropped further by 34% over the last 24 hours. However, institutions are increasing exposure via XRP ETFs. As CoinGape reported, JPMorgan revealed holdings in Bitwise and Grayscale XRP ETFs, along with Armada Acquisition Corp II.
Investors wanting to access similar high-growth companies before they go public can utilize the best pre-IPO token platforms to acquire fractionalized private shares on-chain.
Sedm XRP ETF drží dohromady asi 992,5 milionu XRP a jejich čisté přílivy kapitálu dosáhly 1,51 miliardy USD. V poslední obchodní seanci ale přiteklo 0 USD.
XRP, the native token of the XRP Ledger, has attracted renewed attention from institutional investors, despite recently marking its lowest daily close amid sharp price declines. New data indicates that funds offering XRP exchange-traded fund (ETF) products have continued accumulating the digital asset, locking significant amounts out of general circulation.
XRP ETF accumulation surpasses 990 millionThe most recent figures from an ETF tracker show that seven XRP ETFs have collectively secured approximately 992.5 million XRP as of Thursday, August 13. This accumulation comes during a period marked by heightened volatility and a persistent downtrend in XRP’s market price.
Asset managers providing these ETF products have seen consistent growth in their holdings, despite a low or stagnating daily trading volume. In total, net inflows into all existing XRP ETFs have reached $1.51 billion, a figure highlighting sustained interest in XRP among institutional participants.
MetricValueTotal XRP locked in ETFs992.5 million XRPTotal net ETF inflows$1.51 billionNumber of XRP ETFs7Momentum slows amid market volatilityRecent trading sessions have shown a noticeable slowdown in momentum for XRP ETFs. During the last session, net inflows were reported at $0, indicating an absence of new capital being added to the products. Despite this stagnation, the overall assets under management remain substantial, pointing to resiliency among current investors.
With XRP’s price revisiting multi-year lows, fund managers appear to be maintaining their existing positions rather than actively expanding them. The persistence of already large holdings highlights a wait-and-see approach as the market searches for signs of renewed activity or reversal in price trends.
Investor demand drives narrative shiftLarge XRP transactions are typically associated with Ripple, a US-based fintech company known for developing payment solutions using blockchain technologies. Such movements often fuel speculation about their implications for XRP’s price and supply dynamics.
However, the recent accumulation of nearly 1 billion XRP through ETF products marks a notable departure from this pattern. Institutional demand, rather than direct action from Ripple, has been the driving force behind the token lock-ups, contributing to what some view as a more optimistic outlook for XRP’s adoption within ETF structures.
This shift has altered discussions in the community, as debates about Ripple’s influence take a backseat to conversations around growing investor interest in regulated XRP investment vehicles.
Mini dictionary: XRP ETF, an exchange-traded fund that tracks the price of XRP, enabling institutional or retail investors to gain exposure to XRP through regulated traditional markets without directly holding the asset.
Growing accumulation of XRP in ETF products has prompted a bullish narrative, as these inflows are being driven by institutional investor demand rather than direct action by Ripple.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
EvernorthXRP upravila podmínky fúze se SPAC společností Armada Acquisition Corp. II tak, aby vydávání akcií navázala na závěrečnou cenu XRP místo pevné úrovně 2,36 USD. Firma se má na Nasdaq uvést pod tickerem XRPN.
EvernorthXRP, a Ripple-backed XRP treasury firm, has amended the terms of its SPAC merger with Armada Acquisition Corp. II. The change links the issuance of shares to the closing price of XRP rather than a fixed $2.36 reference. This adjustment in the merger terms suggests a move to align more closely with the token’s market value. The merger aims to list EvernorthXRP on Nasdaq under the ticker XRPN. The firm has indicated plans to acquire at least 473 million XRP at the merger’s inception, with previous purchases reported at an average price of $2.54 per XRP.
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Key Takeaways EvernorthXRP’s decision appears to align share issuance more closely with XRP’s market value, suggesting potential implications for XRP’s pricing dynamics. The market’s reaction to this amendment is currently muted, with XRP-related prediction markets indicating low probability of reaching higher price levels in August. The amendment suggests a possible anticipation of price fluctuations, which may influence market participants’ expectations and behaviors. What to Watch The amended merger terms could impact XRP’s market sentiment and pricing dynamics. Key developments to monitor include any regulatory updates from the SEC that could affect XRP, as well as broader crypto market movements. Watch for any major announcements from Ripple or EvernorthXRP that could serve as catalysts for XRP’s price movement. Additionally, sustained interest in XRP from institutional investors or changes in broader market conditions could further influence the outlook.
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Term Structure
Contract Odds Δ since publish Volume 24h September 1 2026 0.5% — — View market → September 1 2026 2% — — View market → September 1 2026 0.7% — — View market → September 1 2026 5.9% — — View market → September 1 2026 6.5% — — View market → September 1 2026 1.7% — — View market →
XRP od začátku roku klesl o 42 %, i když SEC stáhla odvolání a v USA vzniklo sedm fondů zaměřených na XRP s přílivem 1,5 miliardy USD. Pozornost se teď přesouvá k RLUSD, stablecoinu Ripple, který může omezit využití XRP v přeshraničních platbách.
XRP has declined by 42% since the start of the year, despite a series of regulatory and institutional developments that were expected to bolster the cryptocurrency’s value.
Institutional access rises as legal challenges fadeFire Hustle, a crypto-focused analysis platform, highlighted that recent moves by the US Securities and Exchange Commission (SEC) to drop its appeals have removed immediate legal uncertainties surrounding XRP.
Analyst Summer from Fire Hustle also pointed out the launch of seven funds centered on XRP operating in the United States, which have reportedly attracted $1.5 billion in inflows.
These developments have improved institutional access to XRP. With both regulatory concerns and access now less prominent, market observers are turning their attention to Ripple’s evolving product strategy for XRP.
XRP’s decline in 2024 has occurred even as seven US-based funds reportedly attracted $1.5 billion in investment and SEC legal appeals were dropped. However, questions are emerging over whether Ripple’s upcoming stablecoin could further limit XRP’s primary utility by offering a less volatile means for cross-border transactions.
Stablecoin launch may impact XRP’s utilityRipple, the US-based blockchain company behind XRP, is preparing to launch RLUSD, a stablecoin pegged to the US dollar. Market commentators raised concerns that RLUSD could reduce bank demand for XRP in cross-border settlement.
Historically, XRP has served as a bridge asset, enabling banks to transact value between different fiat currencies by purchasing XRP in one currency, transferring it, and then selling it in another currency market. This system relies on banks accepting XRP’s price volatility as part of the transaction process.
RLUSD’s stable value may appeal to institutions wishing to avoid the risks of price fluctuations. Instead of using XRP for settlements, banks could opt for RLUSD, bypassing direct exposure to crypto market volatility and minimizing risk during large transactions.
Mini dictionary: RLUSD, Ripple’s planned stablecoin, is a digital asset pegged to the US dollar and designed to offer low volatility for institutional cross-border payments. Stablecoins aim to maintain a consistent value, easing concerns over price swings during settlements and providing an alternative to traditional fiat or volatile cryptocurrencies.
Should RLUSD be widely adopted, the main mandatory use case for XRP could shrink to serving as a source of transaction fees, which remain quite minimal at approximately a thousandth of a cent per transaction.
Network activity rises but token demand questionedOn-chain activity on the XRP Ledger has surged recently, with daily transactions reportedly tripling to about 3 million. This uptick suggests growing network usage amid ongoing product development.
However, Fire Hustle emphasized the distinction between increased network transactions and direct demand for the XRP token. With the possible integration of stablecoins like RLUSD, much of the rising value transfer could occur without the need for XRP purchases beyond the small amount needed for fees.
Market participants remain attentive to whether banks and payment providers will favor traditional bridge assets like XRP or regulated dollar-backed tokens for cross-border transfers, as this could have a decisive impact on long-term token demand and prices.
DevelopmentXRPRLUSDPrice volatilityHighLow (stable at $1)Cross-border payment usePrimary (historical)Potential alternativeMandatory use caseBridge asset, transaction feesSettlementsDisclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Charles Schwab has opened direct trading of Bitcoin (BTC) and Ethereum (ETH) to its approximately 40 million brokerage account holders, expanding its crypto offerings on August 13. The move gives one of the largest US financial institutions’ clients access to leading cryptocurrencies through the same platforms they use for stocks and bonds.
Schwab’s crypto platform detailsThe Schwab Crypto platform allows eligible clients to buy and sell Bitcoin and Ethereum using their existing brokerage interface. The service is currently available in 48 US states, with New York and Louisiana excluded for now. Schwab charges a 0.75% fee on crypto trades, which aligns with rates found across the industry.
Charles Schwab Premier Bank handles custody of client assets for the new crypto service, providing oversight and recordkeeping. Paxos, a blockchain infrastructure company regulated by the Office of the Comptroller of the Currency (OCC), is responsible for sub-custody and trade execution.
Mini dictionary: Paxos is a blockchain infrastructure company that provides crypto brokerage, custody, and settlement services, operating under regulatory oversight from the US Office of the Comptroller of the Currency (OCC).
Jonathan Craig, Head of Retail Investing at Schwab, highlighted new service and research features available to clients trading digital assets alongside traditional investments. He stated that broader financial management and educational resources are intended to make the platform appealing for cryptocurrency investors.
Clients now have access to Bitcoin and Ethereum trading on the same interface as stocks and bonds, with added support, research, and education.
Expansion and future plansSchwab, with over $12 trillion in client assets, initially entered the crypto sector using indirect exposure instruments such as spot Bitcoin and Ether exchange-traded products (ETPs), futures, and related funds. As of May, 39.1 million Schwab retail clients were offered access to crypto trading. The figure has now reached 40 million accounts with the broader rollout.
Joe Vietri, Head of Digital Assets, said Schwab aims to become the primary destination for individual investors looking to include digital assets in their portfolios. The company plans to expand its product range beyond BTC and ETH and eventually enable token transfers from outside wallets and exchanges.
FeatureMay 2026August 2026Accounts eligible for crypto trading39.1 million40 millionTokens supportedBTC, ETHBTC, ETHSupported states48 (excludes NY, LA)48 (excludes NY, LA)Trade fee0.75%0.75%Currently, Schwab clients account for about 20% of all spot crypto ETP holdings, highlighting the firm’s position in the retail crypto market.
Risk messaging and industry contextDespite launching direct crypto trading, Schwab continues to caution investors about the risks of digital assets. A company research report from April found that even a modest 1% to 3% allocation to Bitcoin or Ether can significantly increase a portfolio’s total risk. The firm noted that volatility remains a concern, as both tokens have previously dropped over 70% in some market cycles, and described cryptocurrencies as speculative, high-risk holdings.
Any cryptocurrency allocation is likely to raise portfolio volatility, and there is no single correct level of exposure for every investor.
Schwab’s move matches a broader trend on Wall Street, with institutions such as Morgan Stanley introducing crypto trading on its E-Trade platform and Goldman Sachs seeking regulatory approval to launch a Bitcoin Premium Income ETF. These developments are happening as US lawmakers consider the Digital Asset Market Clarity Act, which would divide oversight of crypto between the SEC and CFTC and establish ground rules for tokens, stablecoins, and decentralized finance (DeFi).
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Bitcoin ETF zaznamenaly odliv 966 BTC v hodnotě zhruba 61,16 milionu USD, vedený BlackRockem a Fidelity. Současně Ethereum ETF přilákaly 3 920 ETH v hodnotě asi 7,38 milionu USD.
Bitcoin ETFs experienced significant outflows, with a combined sale of 966 BTC valued at approximately $61.16 million. BlackRock, the world’s largest asset manager, and Fidelity, one of the leading American financial services corporations, led these moves with sizable dispositions from their respective funds.
Major BTC outflows by BlackRock and FidelityBlackRock’s ETF sold 227 BTC, translating to a value of $14.34 million. At the same time, Fidelity’s ETF offloaded an even larger amount, disposing of around 739 BTC for $46.82 million. These decisions indicate a possible adjustment in the allocation strategies of both institutions.
The activity marks one of the larger recent outflows from Bitcoin ETFs and has drawn market attention to the actions of these two financial giants. Both institutions are highly influential in shaping investment trends among traditional and crypto-focused investors.
With BlackRock and Fidelity leading substantial Bitcoin sales, the ETF outflows reflect investor caution in current market conditions.
During the period of these outflows, Bitcoin traded near $63,690, and market sentiment remained characterized by uncertainty and caution. Analysts note that such significant ETF sell-offs can create downward pressure on Bitcoin’s price, especially when combined with a risk-averse investor climate.
Ethereum ETFs record inflowsIn contrast to the Bitcoin ETF outflows, Ethereum ETFs saw inflows amounting to 3,920 ETH, valued at roughly $7.38 million. BlackRock participated in this trend by purchasing the same amount of ETH, indicating a possible shift in investor preference from Bitcoin to Ethereum.
With Ethereum trading around $1,890, the increased inflows into Ethereum ETFs suggest that some institutions and investors are reevaluating its prospects, potentially positioning it more favorably amid current market volatility.
This divergent movement between Bitcoin and Ethereum highlights a growing difference in investor confidence and perceived opportunity between the two largest cryptocurrencies by market capitalization.
ETF ProviderAsset Sold (BTC)Value ($ million)Asset Bought (ETH)Value ($ million)BlackRock22714.343,9207.38Fidelity73946.8200Total96661.163,9207.38Market observers continue to monitor these ETF movements, as changes in fund allocations by industry leaders such as BlackRock and Fidelity can influence broader trends among institutional and retail investors alike.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Ethereum Foundation ustupuje od Poseidonu a dává přednost SHA a BLAKE3. Důvodem je, že zero-knowledge systémy mezitím výrazně pokročily a tradiční hashe jsou nyní konkurenceschopné.
The Ethereum Foundation is walking back one of its more ambitious cryptographic bets. After spending over a year evaluating the Poseidon hash function as a potential upgrade for base-layer hashing, the foundation is now favoring SHA and BLAKE3, two well-established alternatives with decades of security research behind them.
The reason is almost counterintuitive: the very zero-knowledge proof systems that made Poseidon attractive in the first place have gotten so much better that the exotic hash no longer offers a meaningful edge.
From darling to doubt
Poseidon first entered the conversation as a serious candidate in February 2025, when Vitalik Buterin floated the idea of migrating Ethereum’s base-layer hashing to Poseidon, pointing to its dramatically lower constraint counts inside ZK circuits. In plain terms, Poseidon was designed from the ground up to play nicely with zero-knowledge proofs, making it cheaper and faster to verify computations on-chain.
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The hash function itself dates back to 2021, co-designed by cryptographer Dmitry Khovratovich. Its core selling point was reducing the computational overhead compared to Pedersen hashes, the incumbent in many ZK systems.
The Ethereum Foundation took the idea seriously enough to launch a dedicated Poseidon Cryptanalysis program, offering bounties and prizes totaling up to $1 million. The program, which includes an advisory board and multiple phases, is set to run through December 2026.
Security concerns pile up
By August 2026, the Ethereum Research community had grown increasingly vocal about potential weaknesses in Poseidon. Discussions centered on concerns around preimage attacks, which involve finding an input that produces a specific hash output, and questions about whether certain round configurations were robust enough for a system securing hundreds of billions of dollars in value.
Traditional hashes catch up
When Buterin first championed Poseidon in February 2025, the performance gap between algebraic hashes and traditional ones inside ZK circuits was substantial. But ZK proving systems have improved rapidly. Optimizations in proof generation, hardware acceleration, and circuit design have collectively narrowed the performance difference, making traditional hashes competitive in modern ZK setups while carrying none of the security question marks that come with a five-year-old algebraic hash.
What this means for Ethereum’s roadmap
Sticking with SHA or BLAKE3 carries a practical benefit beyond security: compatibility. These hashes are already widely supported across existing tooling, hardware, and software stacks.
Ethereum’s long-term roadmap includes preparations for post-quantum security. Both SHA-256 and BLAKE3 are considered more straightforward to evaluate in post-quantum security models, partly because their mathematical foundations are better understood.
The $1 million cryptanalysis program will continue running through December 2026, so the door isn’t fully closed on Poseidon. But as of August 2026, momentum has clearly shifted toward SHA and BLAKE3 within the Ethereum Research community.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
SharpLink stakuje Ethereum v hodnotě 200 milionů dolarů přes Lido, aby zvýšil výnosy ze své ETH pokladny. Firma za to získá wstETH držené v úschově u Anchorage Digital.
SharpLink said Thursday it will stake $200 million worth of Ethereum through Lido as the company expands its strategy for generating returns from its ETH treasury.
The Nasdaq listed company will receive wrapped staked ETH, or wstETH, representing the staked ETH and its accumulated rewards. The tokens will be held in custody with Anchorage Digital.
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The allocation adds Lido to SharpLink’s existing staking and restaking strategy and allows the company to maintain exposure to ETH staking rewards while retaining access to wstETH across decentralized finance applications.
Lido currently has roughly $16.5 billion worth of ETH staked through its protocol, according to SharpLink. Its wstETH token is integrated with more than 100 protocols and has about $10 billion actively used as collateral.
SharpLink CEO Joseph Chalom said the allocation expands the company’s efforts to make its ETH holdings more productive while maintaining institutional risk standards.
The company said the move is part of a broader effort to maximize the productivity of its Ethereum treasury for shareholders.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Cardano je nově dostupné na Dune Analytics, kde uživatelé získají přístup k governance tabulkám, metrikám staking poolů a dashboardům bez nutnosti psát SQL. Integrace, která byla spuštěna na začátku dubna 2026, zahrnuje i treasury data, transakční a poplatkové metriky, aktivitu smart kontraktů, stablecoin a tokenové toky.
Cardano’s on-chain data is now live on Dune Analytics, giving community members direct access to governance tables, stake pool metrics, and ecosystem dashboards. The integration, which went live in early April 2026, is designed to bring Cardano’s data observability closer to the level enjoyed by ecosystems like Ethereum and Solana.
Nia Whitaker, Dune’s Blockchain Success Manager, announced the rollout and highlighted the launch of a “Cardano Ecosystem Overview” dashboard. The dashboard captures everything from governance snapshots to treasury insights, and critically, none of it requires users to write SQL queries.
What the integration actually covers
The data categories now queryable on Dune span a wide range of Cardano’s on-chain activity. Governance actions, stake pool operator (SPO) data, delegation patterns, transaction and fee metrics, smart contract activity, stablecoin and token flows, and treasury data are all included.
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The integration was launched through Cardano’s Pentad-led Critical Integrations program, a coordinated effort involving the Cardano Foundation, IOG, and EMURGO.
The money behind the data
Approximately 65 million ADA was allocated in earlier phases of the program to fund integrations like this one.
V2 proposals are expected in May 2026 requesting additional funding to cover ongoing costs associated with maintaining and expanding the Dune integration. On-chain governance will determine whether the community approves those follow-up allocations.
Why Dune, and why now
Whitaker joined Dune in January 2025, and her role as Blockchain Success Manager positions her at the intersection of onboarding new chains and ensuring their data is actually useful once it arrives on the platform.
The timing aligns with Cardano’s post-Voltaire governance strategy. Voltaire, the governance-focused era of Cardano’s development roadmap, introduced on-chain voting and treasury management. Putting governance data on Dune lowers the barrier to informed participation. A delegator can now check how their stake pool operator is performing, review active governance proposals, and track treasury flows, all from a single dashboard.
What this changes for the ecosystem
For developers and researchers, having Cardano data on Dune means they can use familiar tools and workflows rather than learning Cardano-specific analytics platforms. For Cardano’s competitive positioning, the integration addresses a persistent criticism that the ecosystem’s data tooling lagged behind peers. Ethereum has had deep Dune integration for years, with thousands of community-created dashboards. Solana’s Dune presence expanded significantly as its ecosystem grew.
The May 2026 V2 funding proposals will serve as an early test of whether the community values continued investment in data infrastructure enough to approve additional ADA allocations.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Cardano splnilo klíčový milník pro spotové ETF po šesti měsících regulovaného obchodování ADA futures na CME. Zároveň komunita schválila 120 milionů ADA prostřednictvím návrhu Cardano PRIME na podporu růstu DeFi.
TLDR ADA price trades near $0.1856, about 11.91% below its recent high of $0.2107. Cardano reached a key spot ETF eligibility milestone after six months of regulated ADA futures trading on CME. Grayscale withdrew its Cardano ETF filing, but other asset managers could still pursue ADA-focused ETF applications. Cardano’s DeFi expansion received 120 million ADA through the approved Cardano PRIME proposal. Leios and Hydra upgrades aim to increase Cardano’s transaction capacity while maintaining network security. Cardano is expanding interoperability through a testnet IBC connection with Injective. Cardano investors remain focused on new network developments as the ADA price trades near $0.1856 after a recent correction. ADA fell about 11.91% from last week’s high of $0.2107. Despite the pullback, attention has shifted to ETF eligibility, DeFi activity, scaling upgrades, interoperability, and Bitcoin integration.
ADA Price Faces Pressure as ETF Eligibility Improves Cardano reached an important ETF-related milestone on August 9, 2026. CME Group launched regulated ADA futures on February 9, giving the token six months of futures trading under a regulated U.S. market structure.
Grayscale withdrew its S-1 filing for a Cardano ETF last week. However, ADA still met a key condition linked to the SEC’s streamlined spot ETF review process. This could leave room for other asset managers to submit Cardano-focused ETF applications.
Cardano is also extending its reach through interoperability. A testnet connection with Injective uses an on-chain IBC rail that allows users to transfer ADA to Injective and move INJ back to Cardano.
The network’s DeFi push also gained support after the community approved AlphaGrowth’s Cardano PRIME proposal. The plan allocates 120 million ADA to support DeFi growth. Cardano’s RealFi testing phase has also recorded more than 3,000 active wallets and over 36,000 on-chain actions.
Leios and Hydra Target Higher Network Capacity Cardano developers continue work on Ouroboros Leios and Hydra. Both projects aim to increase transaction capacity while keeping Cardano’s base-layer security and decentralization model in place.
Leios is expected to reach mainnet this year, while Hydra does not yet have a confirmed launch date. These upgrades form part of Cardano’s effort to handle more network activity as its DeFi and cross-chain services expand.
Bitcoin Bridge Adds Another Cardano Catalyst Cardano is also developing a Bitcoin DeFi link through a BitVM-powered bridge. Charles Hoskinson recently reported major efficiency gains in the bridge’s testing process.
According to the update, data requirements fell from 40 GiB to 0.0281 GB. Execution time dropped from 354 seconds to 0.149 seconds, while costs declined from $14,211 to $37 using the mainnet proof.
The ADA price remains below last week’s high, but Cardano investors continue tracking these network changes. ETF eligibility, DeFi funding, scaling tools, interoperability, and Bitcoin integration now remain key areas to watch in the coming months.
Michael Saylor představil nový finanční model Digital Finance Stack, v němž má USDT sloužit jako hlavní transakční brána a Bitcoin jako „těžký“ digitální kapitál. Strategy tak chce propojit Bitcoin s finančními nástroji pro platby a úvěry.
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Strategy chairman Michael Saylor, who had championed uncompromising Bitcoin maximalism for years, has made an unexpected compromise with the fiat world. The entrepreneur unveiled the concept of a multi-layered Digital Finance Stack, in which the USDT stablecoin has, for the first time, been officially designated as the ecosystem's primary transactional gateway.
The new architecture clearly distributes assets across the monetary spectrum: from volatile Bitcoin on the left flank to stable fiat payment instruments on the right.
How Saylor plans to supercharge Bitcoin with USDTWithin this framework, Bitcoin is assigned exclusively the role of "heavy" digital capital and the ultimate defensive asset. To directly address Bitcoin's limited transactional utility, the largest corporate holder of the cryptocurrency has unexpectedly integrated Tether's USDT into the model.
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This zero-volatility instrument is intended to fully meet the market's need for fast, everyday payments.
Michael Saylor's Bitcoin-centered Digital Capital framework, Source: Michael Saylor via X.comServing as a bridge between them are new structured financial-engineering products developed by Strategy itself. These include STRC, a semi-stable, fixed-income credit instrument represented by the company's Bitcoin-backed preferred stock, and SR-strcUSX, a hybrid token created for the sole purpose of combining the stability of fiat currency with debt-market yields.
The top layer of this system is Digital Equity, which connects all levels of the framework into a single business.
You can live on Bitcoin. You can also build on it. Crude oil is valuable, but civilization gets more utility by refining it into gasoline, jet fuel, plastics, lubricants, and asphalt. Bitcoin is Digital Capital. Innovation turns capital into credit, money, and currency.
— Michael Saylor (@saylor) August 13, 2026 Under Saylor's vision, fintech companies will be able to earn revenue by managing these payment and credit instruments, while investors will receive a share of their earnings by purchasing equity.
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Saylor's theoretical framework has emerged at a moment of severe stress testing for Strategy's actual balance sheet. The company's latest reports showed that it had broken its "never sell" rule, liquidating 6,948 BTC worth $432.5 million this summer to pay dividends and maintain liquidity. The sale came as the STRC preferred stock was trading below its $100 par value.
Although CEO Phong Le said this week that Strategy expects to return to net Bitcoin purchases by the end of 2026, Saylor's new concept clearly shows that the company is attempting to transform its massive reserve of 840,447 BTC from a passive and volatile burden into an active commercial fintech instrument.
Tether oznámil dokončení plného nezávislého auditu za rok 2025 od KPMG U.S., která vydala výrok bez výhrad. Audit potvrdil, že rezervy převyšují závazky o 6,814 miliardy USD.
KPMG U.S. issues unqualified audit opinion on Tether’s 2025 financial statements – the most positive form of opinion an independent auditor can issue
13 August 2026 – Tether, the largest company in the digital asset industry, today announced the successful completion of a full independent audit of Tether International, S.A. de C.V.’s financial statements for the year ended December 31, 2025, conducted by KPMG U.S. The audit, completed in accordance with applicable professional standards, represents one of the most significant milestones in Tether’s history, it is also the largest inaugural financial audit in history. Completed at a scale and within the highest standards, it establishes a new benchmark for financial scrutiny across the stablecoin market.
KPMG issued an unqualified audit opinion of Tether’s financial statements, meaning in KPMG’s opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2025, and the results of its operations and its cash flows for the year ended in accordance with U.S. generally accepted accounting principles. The audit complements Tether’s existing quarterly reserve reporting, examining the transactions, systems, ownership records, valuations, counterparties, and underlying evidence supporting the Company’s financial statements. An unqualified opinion – meaning an opinion issued without reservations, exceptions, or caveats – is the most positive form of opinion that an independent auditor can issue.
As part of the process, KPMG physically counted and inspected every individual gold bar held by Tether, verifying the existence and identifying information of each bar rather than relying solely on reports from custodians or counterparties. Rigor was also applied across the entirety of Tether’s financial statements – the full balance sheet, including the assets composing the reserves and the liabilities represented by the issued token, as well as the income statement, change of equity, and cash flows statements. Each area was subject to independent substantive testing and verification.
“This is a defining moment for the stablecoin industry,” said Paolo Ardoino, CEO of Tether. “For years, some detractors said an audit of Tether could not be completed. They said the Company refused to subject itself to the most rigorous scrutiny. We have once again proven them wrong. Completing our financial statement audit sets a new standard for the industry and reflects the leadership we’ve brought to this market from the start.”
“KPMG did not simply review a set of headline figures,” Ardoino continued. “KPMG conducted a full and thorough audit in accordance with AICPA standards – examining the assets, transactions, systems, documentation, and other evidence supporting our financial statements. The result is an unqualified opinion; in other words, it means Tether has a clean audit.”
“This is a landmark moment for Tether and for the industry we serve – a milestone in Tether’s commitment to transparency,” said Simon McWilliams, Chief Financial Officer of Tether. “We subjected our financial statements to the scrutiny of a Big Four audit, one of the most ambitious projects in the Company’s history, and completed it with the highest priority following the announcement of our signing with a Big Four auditor. This was our Finance team stepping into the highest league and leading in it. We hold ourselves to the standards seen at the world’s leading companies – and we will keep raising them over time. Tether’s audited financial statements for the year ended 31 December 2025 report reserves exceeding the liabilities by $6.814 billion, confirming the quality of the public attestation reports.”
Tether has provided regular independent attestations of the assets backing its issued tokens for years. The completion of a financial statement audit represents a fundamental step forward in the Company’s financial reporting and the fulfillment of one of its longest-held commitments.
The achievement also carries implications beyond Tether. Stablecoins have become an increasingly important component of global financial infrastructure, supporting savings, payments, remittances, trading, and access to U.S. dollars for hundreds of millions of people.
As their role grows, the financial governance and independent scrutiny applied to stablecoin issuers must grow with them. By voluntarily subjecting its complete financial statements to this level of examination, Tether is setting a higher standard for accountability across the market.
“People may describe this as the end of a long journey, but we see it as the beginning of the next one,” Ardoino said. “Tether has evolved from a disruptive stablecoin issuer into one of the most financially significant and operationally sophisticated private companies in the world. This audit demonstrates that our financial infrastructure and governance have evolved alongside that responsibility. Today, more than 650 million users across all emerging markets continue to rely on Tether daily, choosing USD₮ as their currency, for their life savings, for their commerce, for the future of their children. These are people who have been left behind by the traditional financial system, and they trust our Company to remain resilient amidst all the global uncertainty that plagues the world – the proof of that stability is no longer just a Tether promise; it’s a signed opinion.”
Marketnode přenese vybrané fondy BNY Investments na Stellar, čímž rozšíří přístup k tokenizovaným investičním produktům pro institucionální i akreditované investory.
Digital market infrastructure firm Marketnode is set to bring select BNY Investments funds onchain through the Stellar network (@StellarOrg), in a move that widens access to tokenized investment products for both institutional and accredited investors.
What the Partnership InvolvesMarketnode will use its digital infrastructure to tokenize the chosen BNY Investments funds, with distribution efficiency and security cited as the primary goals of the arrangement. Institutional investors stand to gain exposure to multi-asset investment products through the onchain rails, while accredited investors will also be granted access to the selected funds.
Founded by SGX Group and Temasek in 2021, Marketnode serves as Asia-Pacific's distributed ledger-powered financial market infrastructure, operating two platforms: Gateway, an end-to-end tokenization platform, and Fundnode, Singapore's investment fund infrastructure on blockchain. The firm is backed by Euroclear, HSBC, SGX Group and Temasek, and positions itself as APAC's trusted and neutral digital market infrastructure.
Part of a Broader Push by BNY Into TokenizationThe Stellar collaboration arrives as BNY deepens its commitment to blockchain-based fund servicing. In July 2026, BNY announced the launch of its new Digital Transfer Agency capabilities, extending the firm's fund servicing to support digitally native funds across multiple jurisdictions and blockchains, enabling a unified client servicing experience. As of June 30, 2026, BNY oversees $62.6 trillion in assets under custody and administration and $2.2 trillion in assets under management.
The tokenized real-world asset market has expanded sharply in 2026. The global tokenized financial asset market stands at approximately $30 billion, over double where it stood a year earlier, with U.S. Treasury securities and money market funds accounting for about half of that total. The Marketnode and BNY Investments arrangement on Stellar adds further institutional weight to that trend, using a public blockchain network to improve the reach and operability of traditional investment products.
Sources:
BNY: Global Digital Transfer Agency Launch (July 2026)
Markets Media: Euroclear Invests in Marketnode
Callan: Tokenization and 2026 Shifts for Institutional Investors
Stellar ve 2. čtvrtletí zvýšil objem tokenizovaných RWA na 3,05 miliardy USD, tedy o 100 % mezikvartálně. Převody stablecoinů dosáhly rekordu 11,4 miliardy USD.
Stellar quietly posted one of the strongest quarters any Layer 1 has seen in 2026, and it did it in the lane that actually matters to Wall Street: regulated finance.
The Stellar Development Foundation’s Q2 2026 network report, released on August 3, shows tokenized real-world assets on the network reached $3.05 billion, a 100% increase from the prior quarter. That growth rate is roughly four times faster than the broader RWA tokenization market. Meanwhile, stablecoin transfer volumes hit an all-time high of $11.4 billion, and the network averaged approximately 4.9 million daily transactions.
Protocol 26 sets the stage
Much of this momentum traces back to a single date: May 6, 2026, when Protocol 26, nicknamed “Yardstick,” went live on Stellar’s mainnet. The upgrade had been cooking since early April, hitting stable releases on April 8 and clearing testnet on April 16 before the full activation.
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Two features stand out. First, a governed on-chain freeze mechanism, which gives issuers the ability to pause or restrict asset transfers in compliance with regulatory requirements. Second, improved 256-bit arithmetic functionality, which lets the network handle calculations with far greater precision when settling institutional-grade financial instruments.
Who’s actually tokenizing on Stellar
The $3.05 billion in RWAs isn’t a single issuer inflating the number. Centrifuge is driving activity in credit markets, tokenizing private credit instruments and structured finance products. Matrixdock has carved out a niche in gold tokenization, bringing physical precious metals on-chain. And a cohort of issuers across the EU, UK, and US have launched tokenized US Treasuries and investment funds on the network.
Perhaps the most notable signal is institutional interest from the Depository Trust & Clearing Corporation. DTCC, which processes trillions of dollars in securities transactions annually and serves as the backbone of traditional US capital markets, has expressed plans involving Stellar.
The stablecoin story
The $11.4 billion in stablecoin transfers during Q2 represents a new all-time high for the network. Averaging 4.9 million daily transactions also suggests the network is handling meaningful throughput without degradation.
What this means for the competitive landscape
Stellar’s Q2 numbers land at a moment when RWA tokenization has become one of the most contested battlegrounds in crypto. Ethereum remains the largest venue for tokenized assets by total value, but competitors including Polygon, Avalanche, and Solana have all made aggressive plays for institutional issuers.
Doubling RWAs in a single quarter while the broader market grew at roughly a quarter of that pace suggests the strategy is working. Protocol 26’s freeze mechanism is a concrete example: a feature that a bank’s compliance department considers table stakes, now native to the blockchain rather than handled through off-chain workarounds.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Marketnode přenesl vybrané fondy Mellon Investments na Stellar, čímž dává institucionálním i akreditovaným investorům v Asii a Tichomoří digitální přístup k regulovaným fondům. Fondy budou na blockchainu reprezentovány jako tokeny.
Marketnode has announced the onchain integration of select Mellon Investments funds through the Stellar blockchain, giving institutional and accredited investors in the Asia Pacific region digital access to established financial instruments.
Tokenization of Regulated Funds Gains MomentumThe initiative enables certain Mellon Investments funds to be represented as digital tokens on Stellar. This approach offers qualified investors a new avenue to access traditional investment products through blockchain technology instead of relying solely on conventional channels.
Stellar, managed by the Stellar Development Foundation, is a blockchain platform known primarily for cross-border payments and digital asset issuance. Marketnode, a digital market infrastructure company, is accelerating its tokenization strategy by bringing regulated asset managers onchain.
By leveraging tokenization, Marketnode aims to streamline asset management processes and offer investors efficient, traceable, and accessible instruments. As more regulated asset managers consider moving their funds onchain, Stellar’s role in the digitization of financial products is expanding.
Institutional and accredited investors across Asia Pacific are gaining access to real-world investment products on chain, bringing benefits of blockchain technology to traditional finance.
Mini dictionary: Marketnode, a digital market infrastructure provider based in Singapore, focuses on tokenization and the digitalization of traditional financial assets for institutional finance in the Asia-Pacific region.
Stellar Expands Beyond PaymentsTraditionally used for cross-border transfers and crypto payments, Stellar is broadening its presence in regulated finance by offering robust tokenization capabilities. The platform’s infrastructure allows asset managers to represent various investment vehicles—including funds and securities—as blockchain-based tokens.
The Asia Pacific region is emerging as a hub for blockchain-enabled financial instruments. Institutional finance players, particularly in countries like Singapore, are exploring collaborations to digitize traditional assets and enhance operational efficiency through blockchain.
The adoption of Stellar by Marketnode highlights the evolving interest among institutional investors in blockchain infrastructure. Tokenization can improve liquidity, simplify settlement processes, and potentially widen investor access to established financial products.
Market Analysis and Future OutlookThe move comes during a period of mixed performance in the broader cryptocurrency market. Stellar’s price did not record any significant reaction following the announcement, as investors are watching to assess the impact of these developments on long-term network activity.
If more banks and asset managers choose similar models, blockchain-based funds could become mainstream within institutional finance, especially in regions with active regulatory oversight and innovation hubs.
The future growth of tokenized finance on Stellar will depend on evolving regulatory frameworks, continued institutional adoption, and the technical ability of asset managers to migrate traditional products to blockchain networks.
As Marketnode continues to pursue partnerships that bridge conventional finance with blockchain, momentum is building for the tokenization of diverse asset classes in Asia Pacific, potentially setting a precedent for similar projects globally.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Prediction Markets Cross a Historic Volume ThresholdPrediction markets have reached a significant milestone, with monthly transaction volume climbing above $40 billion and surpassing the total combined volume of all U.S. sportsbooks. For context, Pew Research Center data shows that legal U.S. sportsbooks handled roughly $14 billion per month in 2025 on average, making the prediction market figure a clear inflection point for the sector.
The growth has been steep. Industry data compiled by Gambling Insider shows monthly notional trading volume was below $100 million in early 2024 before climbing above $13 billion in late 2025. Bernstein analyst Gautam Chhugani now projects total prediction market volumes could reach $240 billion in 2026 alone, with a path toward $1 trillion annually by 2030, according to a CNBC report citing the investment bank's research.
How @Chainlink Is Powering the Infrastructure LayerBehind that volume growth sits a critical piece of infrastructure. @Chainlink oracles supply the verified, real-time data streams that prediction market platforms need to resolve outcomes accurately and settle payments without delay. According to Chainlink and Polymarket's official partnership announcement, the integration combines Chainlink Data Streams, which provide low-latency, timestamped, and verifiable oracle reports, with Chainlink Automation for timely, automated on-chain settlement.
@Polymarket, one of the sector's largest venues, integrated the $LINK network directly into its resolution process. Chainlink states that Polymarket's volume grew 7.5x over the six months following its integration, and the oracle network now also backs resolution for @trylimitless, @JupiterExchange, and other competing venues. Most recently, @Polymarket overhauled settlement for its short-duration crypto markets, replacing single-price snapshots with a time-weighted average price mechanism powered by Chainlink Data Streams, effective August 7, 2026.
Beyond @Polymarket, @Predictstreet selected Chainlink as its exclusive oracle infrastructure provider for FIFA World Cup 2026 prediction markets, with Chainlink's Runtime Environment handling automated market creation, outcome verification, and payouts using official FIFA data. @world_xyz is also among the leading platforms leveraging the $LINK network to eliminate settlement delays and scale decentralized forecasting for a global user base.
The broader shift points to oracles becoming core settlement infrastructure rather than a peripheral data tool. As @Chainlink founder Sergey Nazarov has noted, when market outcomes are resolved using high-quality data and tamper-proof computation, prediction markets evolve into reliable, real-time signals that global users can trust.
Sources
Pew Research Center: Trading volume on prediction markets has soared in recent months
PR Newswire: Polymarket Partners with Chainlink to Enhance Accuracy of Prediction Market Resolutions
CNBC: Prediction markets will grow to $1 trillion by 2030, Bernstein estimates
Morph spustil neúschovní platební platformu pro USDC a USDT, která posílá stablecoiny přímo do peněženek ovládaných uživateli. Firmy si mohou napojit vlastní wallet a přijímat platby přes faktury nebo platební odkazy bez vkladu u Morph.
Morph has launched a non-custodial payments platform that supports USDC and USDT, lets businesses connect their own wallets, and settles customer payments directly on-chain.
Summary
USDC and USDT payments settle directly into wallets controlled by users.
Morph Payments includes invoices, payment links, and a transaction dashboard.
The platform does not require businesses to deposit stablecoins with Morph.
Visa data cited by Morph put adjusted stablecoin volume at $10.2 trillion over 12 months.
Morph Payments leaves funds in users’ wallets
According to an Aug. 12 press release from Morph shared with crypto.news, the service is available to online businesses, freelancers, and distributed organizations that want to accept, send, and monitor stablecoin payments.
Morph Payments works by connecting a self-custodial wallet to the platform rather than requiring a business to transfer its funds into an account controlled by Morph. When a customer completes a payment, the stablecoins move directly to the wallet selected by the recipient.
Morph said the initial release supports USDC and USDT, the two stablecoins named in the announcement. Businesses can create an invoice or payment link that directs customers to a checkout page, while completed transactions appear in a single dashboard.
Under the setup described in the release, Morph provides the payment interface but does not hold the funds sent through it. Businesses retain control of the private wallet receiving the payment, and the stablecoins become available once the blockchain confirms the transaction.
Such a model differs from a custodial processor, which receives money on behalf of a merchant and later releases the balance. Morph said direct settlement can reduce the time businesses wait to access incoming funds, although the announcement did not provide transaction-speed tests or comparisons with specific payment companies.
The release also did not disclose the platform’s fees, transaction limits, supported jurisdictions, identity-verification requirements, wallet compatibility, or smart-contract audit details. Morph said businesses and entrepreneurs could begin registering through its website on Aug. 12.
Invoices and payment links target online businesses
Alongside wallet settlement, the first version lets users send stablecoins and monitor incoming and outgoing payments. The dashboard is designed to put payment records, invoices, and checkout links in one place, according to the company.
For freelancers, a payment request can be created as an invoice or a link and sent directly to a client. Online businesses can use the same process to collect USDC or USDT without giving Morph control over the receiving wallet.
Morph presented the service as an option for cross-border payments and remote work, where bank transfers may pass through several institutions before reaching the recipient. Claims about payments arriving within minutes and providing faster access to working capital came from the company; the press release did not include independent performance data or customer results.
Renna Ba, Morph’s head of ecosystem, said businesses could eventually work with several stablecoins in much the same way that companies now handle different national currencies.
“The challenge isn’t creating more payment options—it’s making that complexity invisible so businesses can focus on growing, not managing payments.”
Although the comment points to support for multiple assets, the initial product is limited to USDC and USDT. Morph did not identify other stablecoins it may add or provide a schedule for expanding the list.
Morph Payments follows earlier network programs
The launch adds a user-facing product to Morph’s existing work on stablecoin infrastructure. In January, the network selected Cobo as its first partner for the Morph Payment Accelerator, a performance-based program tied to verified stablecoin volume on Morph’s mainnet.
Cobo provides custodial wallets, multi-party computation wallets, and wallet infrastructure across more than 80 blockchains. The January announcement said the partnership would focus on institutional stablecoin activity, including cross-border payouts and high-frequency settlement.
Morph Payments takes a different approach at the user-account level because the new service does not take custody of a business’s assets. Customers can still move stablecoins received through the platform to trading services or yield products built on Morph’s network, the company said. Participation in such services would involve separate platforms and risks not detailed in the payments announcement.
The company has not disclosed transaction targets, expected user numbers, or revenue projections for the product. Additional functions are planned over the coming months, but Morph did not specify which tools will be added or when they will become available.
Stablecoin payment tools are reaching more businesses
Morph cited Visa’s on-chain analytics showing $10.2 trillion in adjusted stablecoin transaction volume during the previous 12 months, a 65% increase from the comparable period. Visa’s adjusted measure is designed to filter activity that its methodology identifies as inorganic.
Separate research published by Morph in April estimated that stablecoins handled $33 trillion in total on-chain volume during 2025. As previously covered by crypto.news, the report attributed about 60% of the measured flows to business-to-business activity and projected more than $50 trillion in settlement volume during 2026. The figures are company estimates rather than audited financial results.
Other payment providers have also introduced stablecoin tools for corporate users. In July, Ramp launched stablecoin business accounts on Solana, allowing customers to hold USDC and USDT and send payments to vendors in more than 140 countries. Ramp also said its system could convert payments into more than 40 local currencies.
Ramp’s product combines stablecoin balances with its existing approval and accounting tools, while Morph’s release focuses on direct settlement to a wallet controlled by the business. Morph did not announce local-currency conversion, bank-account funding, or accounting software integrations.
U.S. stablecoin rules remain unfinished
American businesses considering stablecoin payment products operate under a federal framework that is still being implemented. President Donald Trump signed the GENIUS Act into law on July 18, 2025, establishing federal requirements for payment stablecoin issuers, including reserve, redemption, disclosure, and supervision standards.
The law primarily regulates issuers rather than every business that receives stablecoins. Its treatment of distribution remains relevant, however, because U.S. digital asset service providers will face restrictions on offering payment stablecoins from non-permitted issuers beginning in July 2028.
USDC and USDT are issued by Circle and Tether, respectively, rather than by Morph. The launch announcement did not state whether Morph Payments would be available in every U.S. state or identify the licenses and compliance procedures that could apply to American customers.
Federal regulators missed a July deadline for completing several rules required under the GENIUS Act. As of July 19, proposals covering reserves, redemptions, custody, customer identification, anti-money laundering controls, and state supervision had not all been finalized. The statute is scheduled to take effect by Jan. 18, 2027, unless final regulations start an earlier 120-day implementation period.
ether.fi do aplikace přidává tokenizované akcie, nové fiat převody a půjčky kryté přes Aave. Současně zavádí programové odkupy ETHFI financované ze všech příjmů.
The Summer release lands a week after the protocol pulled restaking out of weETH. The release also introduces programmatic ETHFI buybacks funded from every revenue line.
ether.fi is adding tokenized stock trading, portfolio-wide borrowing and global fiat transfers to its app, moving the liquid staking protocol further into retail banking products. The company announced the changes Thursday as part of what it calls its Summer release.
The launch continues a shift ether.fi has been making all year. The protocol removed restaking from weETH last week, leaving less than 1% of its assets restaked with EigenLayer, and has spent 2026 building the card, credit and payments stack it first described as a "defibank" in April 2025.
Staking is still almost all of the balance sheet. ether.fi's staking arm holds $3.34 billion, DefiLlama data shows. Its Optimism borrowing market holds $160.2 million against $23.3 million of active loans, up 11.8% over 30 days, and the vault backing the Cash card holds $124.5 million.
"Our goal is to replace the traditional bank for most users and give them tools and benefits that were previously available only to institutions and high-net-worth individuals," ether.fi CEO Mike Silagadze said in a statement.
Borrowing Against EverythingThe release says an integrated Aave market on Optimism lets users borrow against their entire portfolio at rates "currently around 4%" to spend on the Cash card or buy other assets. USDC on Aave v3 Optimism carries a borrow rate of 3.82%, Aavescan data shows.
The dedicated Aave instance ether.fi has asked for is still in governance. ether.fi filed a temp check on July 1 to deploy an Aave V4 whitelabel instance on OP Mainnet that it would operate end-to-end, and it passed. An ARFC followed on July 14, setting out next steps that require an AIP vote for final confirmation.
Terms in the proposal give Aave's DAO 20% of instance revenue, which ether.fi projects at $1 million to $1.2 million a year, with up to $175 million in assets at launch and a $500 million target by year-end. Delegates posting as Abel189 and MconnectDAO gave conditional support on July 26. MconnectDAO cited reputational risk to the DAO, collateral factors of up to 95% on complex collateral types, and limited onchain accountability for the independent risk admin, and asked for a documented performance review before license renewal.
The ARFC states that ether.fi Cash currently runs on a custom, non-pooled borrow market on OP Mainnet, with about $25 million in active borrows across more than 16 collateral assets. The release does not say whether the market now live in the app is that one, the existing Aave v3 deployment, or the instance still in governance.
Kraken Owns The StocksTokenized equities in the app come through xStocks, alongside metals and crypto assets, with holdings kept in an ether.fi vault protected by social recovery.
xStocks is issued by Backed Assets (JE) Limited and distributed through Payward entities. Kraken acquired Backed Finance in December 2025. Its documentation lists availability on "Ethereum, Solana, Arbitrum, Mantle, TON, Ink, and other EVM-compatible networks," without naming Optimism, where ether.fi's card and credit products settle. xStocks passed $500 million in onchain volume in August 2025, a figure analysts at the time called symbolic against the volumes routinely cleared on Solana decentralized exchanges.
Stock and metals trading is not available in the United States and certain other markets, according to the release. Everything else ships to all users Thursday.
Thirty Currencies, Named AccountsNew on- and off-ramps support more than 30 additional currencies and payment methods including Cash App, Apple Pay and Interac, with named accounts for deposits. The Cash card pays 3% back on purchases at every tier, with monthly caps of $2,000 for Core, $10,000 for Luxe and $50,000 for Pinnacle, plus an invite-only VIP tier, per ether.fi's terms. ATM withdrawals carry a 2% fee at every tier.
Half A Million Membersether.fi describes itself as the first and largest non-custodial crypto neobank, with more than half a million members and a $2 billion annual transaction run-rate.
Onchain data supports part of that. ether.fi's card has settled $723.4 million across 9.07 million transactions and 98,683 addresses since November 2024, Paymentscan shows, with July setting a record at $100.3 million, or about 13% of the $748.7 million in sector-wide card volume Paymentscan tracked that month. That pace annualizes to roughly $1.2 billion, below the $2 billion the company cites. The gap would close if the run-rate counts swaps, deposits and withdrawals alongside card spending.
ether.fi last disclosed user figures in February 2026, when it put accounts at 300,000 and active cards at 70,000 and total spending since launch at $265 million. Paymentscan publishes no custodial classification, and the "largest non-custodial" ranking is ether.fi's own.
Buybacks Written Into ContractsThe release introduces programmatic ETHFI buybacks written into protocol contracts and funded from every product and revenue line. ether.fi has run buyback programs since 2024, including a withdrawal-revenue program approved in April 2025, after which the token doubled the following month, and a $50 million treasury program approved in November 2025 that triggers only while ETHFI trades below $3. Current documentation describes weekly buybacks from eETH withdrawal fees and monthly buybacks from Stake, Liquid and Cash revenue, with proceeds going to sETHFI holders.
ETHFI trades at $0.37, down 3.2% over 24 hours and up 1.3% on the week, with a market capitalization of $361.8 million, CoinGecko data shows. The token is 95.6% below its March 2024 high of $8.53. Ether trades at $1,888.
ether.fi is hosting an analyst call on the release Thursday at 10 a.m. ET.
Ether.fi přidává v aplikaci tokenizované akcie, kovy, úvěry zajištěné portfoliem a účty ve fiat měnách. Tokenizované akcie a kovy ale nejsou dostupné uživatelům v USA.
In brief Ether.fi is adding tokenized assets and loans backed by multiple holdings. Fiat accounts will support more than 30 currencies and payment methods. Tokenized stocks and metals will not be available to U.S. users. Ether.fi, a decentralized finance platform known for Ethereum staking, is adding tokenized asset trading, portfolio-backed loans, and fiat accounts to its self-custodial app.
Announced on Thursday, Ether.fi said users can now trade tokenized stocks, metals, and crypto assets through its app. An integrated market using decentralized lending protocol Aave on Optimism, an Ethereum scaling network, also lets users lend assets, borrow against their portfolios without selling their holdings, and send or spend the proceeds. New fiat accounts support deposits and withdrawals worldwide.
Myriad: Ethereum next price move? Click the image to make your prediction.“Initially we're supporting existing assets and select tokenized stocks and gold,” Ether.fi founder and CEO Mike Silagadze told Decrypt. Those existing assets include Ethereum, Bitcoin, Hyperliqud, and ETHFI, Ether.fi's native governance token, said Silagadze. “Quickly we'll start adding additional assets as collateral.”
According to Ether.fi, fiat accounts will be available to users who have completed the identity checks required for its payment card. Deposit and withdrawal speeds will vary.
Ether.fi is also introducing automated buybacks of ETHFI and offering 3% cash back on card purchases. The company says it has more than 500,000 members and a $2 billion annual transaction run rate.
Silagadze said portfolio-backed loans and tokenized real-world assets, or RWAs, could attract people who do not already use decentralized finance.
“I think being able to borrow against the whole portfolio, and being able to loop RWAs is going to be popular,” he said. “Also getting cashback on trades and borrows is going to create some buzz, I think.”
The new features are available to new and existing Ether.fi users, although tokenized stock and metals trading is unavailable in the United States and certain other markets.
Silagadze said the expanded platform is intended to serve as an alternative to traditional banks.
“With ether.fi, we’re bridging the gap between decentralized finance and everyday financial needs,” Silagadze said. “Our goal is to replace the traditional bank for most users and give them tools and benefits that were previously available only to institutions and high-net-worth individuals. That is the power of DeFi and self-custody.”
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AI audit Aave V3 a V4 nenašel žádný potvrzený problém kategorie Critical ani High; všech 71 zjištění bylo po manuální kontrole klasifikováno jen jako Low nebo Informational.
Aave has operated across four protocol generations since 2020, and its security program has grown with each one. Manual audits, formal verification, invariant testing, fuzzing, public contests, and a standing bug bounty each entered the process as they proved their worth, and Aave Labs keeps testing newer methods as they mature.
Aave V4 underwent more than 340 days of cumulative security review before the scans outlined below happened, including manual audits, formal verification, invariant testing, fuzzing, and a six-week public contest. While Aave V3 has been hardened by years of production operation and successive audits on top of that.
In Security By Design: Aave V4, Aave Labs committed to evaluating AI-powered auditing as a complementary layer of the security program, and to maturing AI scanning for future releases. Delivering on that, we ran three AI security tools against Aave V3 and Aave V4, and are reporting the findings here.
Across 71 findings, no Critical or High severity issue was confirmed in either protocol. Every finding that survived manual validation is of Low or Informational severity, and at no point were users or their funds at risk from any issues mentioned.
How Deep the Existing Tests Run
Beyond vulnerability scanning, one tool ran mutation testing against four core V4 contracts, Hub, Spoke, TreasurySpoke, and AaveOracle, injecting 304 deliberate code mutations to measure whether Aave's own test suites would catch them.
ContractsMutationsKilled by existing testsInconclusive (suite timeout)Hub1511429Spoke / TreasurySpoke / AaveOracle15312924Total30427133
Existing tests killed 271 mutations outright, and no mutation was shown to survive. The remaining 33 returned inconclusive because the suites timed out rather than because a mutation slipped through, and work is ongoing to speed those suites up. Coverage measures which lines a test suite touches. Mutation testing measures whether it would notice those lines being wrong.
Approach
Each tool uses a different methodology, so the codebases were probed from genuinely different angles rather than through three variations of the same scan. Scans ran against pinned commits of the production repositories, covering the full src trees, and where supported the tools received the same context human auditors work from, including the V4 threat model and prior audit reports.
Rather than taking any verdict on faith, Aave Labs manually reviewed every finding against the code and classified each as valid, false positive, duplicate, or by design, using the same triage discipline applied to audit and contest submissions.
ToolMethodologySherlock AIAgentic AI audit runs, supplied with the V4 threat model and prior audit reports as contextOctaneAutomated vulnerability analysis with per-finding exploit scenarios, severity and likelihood reasoning, and proposed fixesOlympixAI vulnerability discovery (BugPocer) with runnable Foundry proof-of-concept generation for each reported true positive, plus mutation testing of the V4 test suites
Results
ToolCodebaseFindings surfacedValid after manual reviewSeverity of valid findingsTool AAave V495¹LowTool AAave V3138²LowTool BAave V4181InformationalTool BAave V311³LowTool CAave V4130⁴—Tool CAave V3175⁵LowTotal7120All Low / Informational
Results are anonymized per tool and presented in randomized order. This review was run to strengthen the protocol's security posture rather than to benchmark vendors against one another, and the aggregate outcome is what matters most for this analysis.
¹ Includes one issue previously reported and paid through the bug bounty program.
² Includes three findings on deprecated rewards contracts.
³ On a deprecated rewards contract no longer in use.
⁴ This tool's V4 report additionally lists four low and informational warnings covering operational edge cases with no security impact.
⁵ Three of the five confirmed only on deprecated or unused contracts. Six additional low and informational warnings cover view-only or far-future edge cases.
Several of the 20 validated findings were already known through existing processes such as the bug bounty program, which confirms the tools find real issues while also confirming those processes caught them first. A meaningful share affects deprecated code, and the rest are missing sanity checks in governance configuration paths, reachable only by trusted roles and failing safe by reverting, or view-function edge cases with no effect on protocol state. A small number of genuinely new items surfaced, all Low or Informational, each tracked and addressed where remediation is warranted.
A few findings arrived rated Critical or High, and validation confirmed every one as a false positive. Reading Aave correctly requires understanding its trust model, which is what human review contributes to a scan.
Where AI Helps Today
The review also covered periphery repositories including GHO, a.DI, aave-helpers, and the swap adapters, where hit rates ran materially higher than on the heavily audited V3 and V4 core. Precision was highest where prior scrutiny was lowest, which is consistent with deeply hardened core codebases and points to where AI tooling adds the most leverage today.
Even in the best runs, roughly half of the surfaced findings validated as real behavior, which places AI scanning as an early-stage layer alongside expert review. Human triage remains essential for separating signal from noise and assigning realistic severity under the protocol's trust model.
Going Forward
Aave Labs will keep working with leading teams in AI security tooling and run further AI-assisted reviews as those tools mature. We gave each vendor detailed feedback on false-positive patterns, duplicate reporting, and scoping, and the best-performing tools will be integrated into internal workflows so that scanning runs alongside development rather than only at release milestones. The methods listed above remain the foundation of the protocol's security posture, and AI scanning strengthens that stack without displacing any layer of it.
We will keep publishing results like these, including the ones less flattering than this set. Billions of dollars in user funds sit across DeFi, and the security of any one protocol raises or lowers the floor for all of them.
Thanks to the Sherlock, Octane, and Olympix teams for their collaboration and their responsiveness to feedback. Their work benefits Aave and the broader effort to make AI a dependable part of smart contract security.
@Hedera has recorded a new all-time high for daily transaction volume, processing 346,800 transactions within a single 24-hour window. The milestone reflects growing real-world demand on the network and marks a notable step up in on-chain activity for the enterprise-focused platform.
What Is Driving the Surge? Real-time data show that Hedera's low-latency consensus system is absorbing heavy workloads generated by its logistics and fintech partners without visible strain. Hedera is built for the demands of real-world applications, combining enterprise-grade security with transaction finality in seconds. That architecture appears to be proving its worth as partner activity scales.
$HBAR is the native token of Hedera, an enterprise-grade public network that utilizes Hashgraph, an alternative type of distributed ledger to blockchain. The platform is designed to enable scalable, low-cost transactions while maintaining network integrity. Those qualities have made it a practical choice for supply chain and financial services use cases, where throughput and reliability matter more than headline-grabbing features.
On-chain data show transaction counts continuing to rise, approaching 72 billion in cumulative transactions processed across the network, a figure that highlights sustained enterprise usage rather than isolated bursts of activity.
Enterprise Adoption Backing the Numbers Governed by a council of the world's leading organizations, Hedera delivers a foundation of trust that other networks find difficult to match. That governance structure has helped attract regulated-market participants who require operational certainty alongside blockchain infrastructure.
Lloyds Banking Group, Aberdeen Investments, and Archax have executed the UK's first foreign exchange trades using tokenized real-world assets as collateral, powered by the Hedera network. Partnerships of that caliber reflect the kind of institutional confidence that converts into sustained transaction volume over time.
The 346,800 daily transaction record builds on a broader growth trajectory. Year-on-year, daily active wallets rose sharply by 190 percent, while tracked dApp transaction volume jumped 386 percent, reaching 2.7 million. The latest milestone suggests that momentum has continued into the second half of 2026.
Sources:
Hedera Official Website
Coinpedia: Hedera Strengthens Enterprise Push
CoinGecko: Hedera (HBAR) Live Data
Standard Chartered uvedla, že její cílová cena UNI 100 USD na konci roku 2030 může být příliš nízká, protože tokeny se spalují tempem 90 milionů USD ročně díky poplatkům z Robinhood Chain. Uniswap nyní z tohoto řetězce získává asi 60 % příjmů.
Geoff Kendrick says UNI burns funded by Robinhood Chain trading have run at an annualized $90 million since Jul. 27. DefiLlama data puts Uniswap's protocol revenue at 2.4 times its prior level, with Robinhood Chain supplying about 60% of it.
Standard Chartered's global head of digital assets research said on Thursday that the $100 end-2030 price target he set for UNI in June may be too low, citing the rate at which Uniswap is now burning tokens with fees earned on Robinhood Chain.
The burn rate Geoff Kendrick is extrapolating from is 17 days old, and most of it comes from a chain that launched on Jul. 1. Uniswap's fee income has become concentrated in a single venue faster than any of the bank's 2030 assumptions about tokenized assets moving on-chain have been tested.
Two-Point-Four TimesUniswap protocol revenue averaged $244,222 a day between Jul. 27 and Aug. 12, up from $99,770 a day over the preceding 17 days, according to DefiLlama. All of it is used to buy and burn UNI under UNIfication, the December 2025 upgrade that routed protocol fees into programmatic burns. Annualized, the post-Jul. 27 run rate is $89.1 million, against the $90 million Kendrick cited.
At UNI's current $3.53, that pays for about 25 million tokens a year, or 4% of the 624.2 million in circulation.
"A 4% burn is clearly unsustainable," Kendrick wrote. "Even if the UNI token price were at my year-end 2026 target (USD6.50) the burn rate would be 2.2% annualised. Even that is likely not sustainable long-term. And that's before we get more partnerships like the Robinhood one." He closed the note: "I fear my 2030 UNI target of USD100 is too low!"
Sixty Percent From RobinhoodUniswap's v3 deployment on Robinhood Chain generated $925,054 of the protocol's $1.55 million in total protocol revenue over the past seven days, per DefiLlama — 60% of the burn from one chain. Uniswap accounts for $439.3 million of the chain's $511.1 million in 24-hour DEX volume, or 86%.
Uniswap Labs deployed v2, v3, v4 and UniswapX on Robinhood Chain on Jul. 2, describing itself as "the primary public AMM." Two Uniswap governance proposals executed on Jul. 17: Protocol Fee Expansion: Robinhood Chain and Activate v4 Protocol Fees (Part 1/2). Both took effect in the same window as the revenue jump, so the increase is not attributable to Robinhood Chain alone.
Where The Numbers DivergeKendrick put Robinhood Chain's total value locked "just shy of USD1bn," citing Entropy Advisors, and called it the fastest-growing chain of all time on that measure. DefiLlama has the chain at $506.97 million, with $1.55 billion bridged. The Defiant reported in July that the chain's early metrics were driven by memecoin trading rather than the tokenized stocks it was built for.
UNI is down 6.7% over 24 hours and 13.4% over the week at $3.53, per CoinGecko, with a $2.2 billion market capitalization. Standard Chartered initiated coverage on Jun. 15, calling for a 40x gain from the $2.50 level cited in that note.
AI asistent Caffeine od Dfinity podle Dominica Williamse vygeneroval 15 miliard řádků kódu, z toho velkou část v Motoko pro Internet Computer ($ICP). To ukazuje na prudké zrychlení on-chain vývoje.
The AI coding assistant @Caffeineai, developed by the @Dfinity Foundation, has generated 15 billion lines of code, according to Dfinity founder Dominic Williams. A significant share of that output was written in Motoko, the native programming language of the Internet Computer Protocol ($ICP), pointing to a sharp acceleration in on-chain development activity.
What Caffeine AI Does
Why It Matters for $ICPThe surge in Motoko code generation has direct implications for $ICP's positioning as an execution layer. This makes them a natural fit for the agentic services that Dfinity is targeting with its "Open SaaS" and "NextGen AIware" roadmap.
That token-burn mechanic ties growing developer activity directly to network demand.
With 15 billion lines of code already generated and Motoko output rising, the pace of autonomous app deployment on Internet Computer looks set to increase further as the platform moves from early adopters toward a broader developer base.
Sources:
VentureBeat: Dfinity launches Caffeine, an AI platform that builds production apps from natural language prompts
CoinDesk: ICP Up 4% Ahead of Caffeine Launch, the AI Platform Behind the Self-Writing Internet
CryptoNews: What Is Dfinity's Caffeine?
@SolCex_Exchange has added Pi Network ($PI), Canton Network's $CC, and Ethereum Classic ($ETC) to its platform, with the listings going live as of August 12, expanding the exchange's tradeable asset base well beyond its native Solana ecosystem.
Pi Network's Expanding Exchange FootprintPi Network's Open Mainnet launched on February 20, 2025, with trading beginning at 08:00 UTC across participating exchanges, including Bitget, KuCoin, Gate.io, and MEXC. Despite that broad initial rollout, $PI currently trades around $0.090, with upcoming token unlocks of roughly 775 million PI adding to concerns over selling pressure. The SolCex listing gives @PiCoreTeam's token another venue as it works to recover ground lost during a July slump.
Canton Network and Ethereum Classic Round Out the ListingsThe addition of $CC from @CantonNetwork and $ETC broadens SolCex's reach further. Ethereum Classic, the original Ethereum chain maintained after the 2016 DAO fork, represents the proof-of-work legacy side of the market. Canton Network is a privacy-enabled blockchain designed primarily for institutional use cases. Listing both alongside $PI signals that @SolCex_Exchange is actively pushing to compete with larger centralized platforms.
SolCex describes itself as the first centralized cryptocurrency exchange built on @Solana, using the network's high throughput and low fees to offer fast execution and cross-chain compatibility across Solana, Ethereum, and other blockchains. Whether broader listings translate into meaningful trading volume remains to be seen, but the move adds three distinct asset classes to a platform still establishing its position in a crowded market.
Sources
CryptoPotato: Pi Network News and PI Token Price Update, August 13
GlobeNewswire: SolCex Positioned as Primary Centralized Exchange for Solana
CryptoRank: Pi Network Listing Status
Bullish provedl první regulovaný tokenizovaný obchod s kmenovými akciemi na burze pod dohledem GFSC, přičemž použil své $BLSH na Solaně. Zúčtování proběhlo proti stablecoinu navázanému na USD téměř v reálném čase.
@Bullish has executed what it says is the first regulated, tokenized common stock trade on a Gibraltar Financial Services Commission (GFSC)-regulated digital asset exchange. The trades involved its own shares ($BLSH) and settled against a US-dollar stablecoin, using @Solana as both the issuance and settlement layer.
A First for Regulated Tokenized EquitySeveral market participants participated in the trades on Bullish Exchange, which the company says marks a milestone for the broader tokenized securities market. Unlike synthetic wrappers or derivatives, the tokens are issuer-sponsored and recorded at the registry level, giving holders direct share ownership with the same legal standing as conventional shareholders.
The move follows Bullish becoming the first NYSE-listed company to fully tokenize its own equity cap table, which it announced in May 2026. The exchange tokenized its own $BLSH shares as the first step in a broader tokenized securities program, with CEO Tom Farley framing it as a proof of concept: "Bullish is assembling the full complement of services required to tokenize equities: the regulated exchange, the tokenization technology, and the transfer agent. We're starting with our own stock."
Cutting Out T+1 SettlementThe practical implications are significant. Under the current US framework, equity trades settle on a T+1 basis, meaning final settlement occurs one business day after a trade is placed, a process that requires coordination across brokers, transfer agents, and central clearing bodies. Bullish's tokenized model settles trades against a USD stablecoin in near real time, around the clock, collapsing that window considerably.
Underpinning the infrastructure is Bullish's $4.2 billion pending acquisition of Equiniti, the global transfer agent that serves as the system of record for nearly 3,000 issuer clients and more than 20 million shareholders worldwide. The deal, expected to close in January 2027 subject to regulatory approvals, is designed to give Bullish end-to-end control across the full tokenization lifecycle. Bullish says the $BLSH listing is intended to serve as a regulated template that can be extended to a broader range of securities over time.
Sources:
Markets Media: Bullish Launches Tokenized Equity Trading
Bullish Official: Bullish Tokenizes Its Shares, Bringing BLSH Onchain
SEC Investor Advisory Committee: Recommendation on Tokenization of Equity Securities
Solana’s flourishing RWA sector is growing even more tangible, with Dominion bringing physical redeemable silver onchain in today’s $SILV launch.
Sunrise DeFi, the Wormhole-powered asset gateway, has been shoulder-tapped to support the launch, facilitating deep liquidity and integration across Solana DeFi.
Dominion’s launch comes at a critical time for Solana’s onchain commodities landscape, which has yet to witness the same adoption as its flourishing tokenized equities scene.
Tokenized, Physical Silver Hits Solana
Dominion has launched $SILV, a tokenized, redeemable asset backed 1:1 by physical silver. Where most of Solana’s existing onchain silver products are based on paper derivatives and adjacent ETFs, Dominion’s $SILV offers a more tangible, physical exposure to the world’s 2nd largest metal market.
"Silver has been money for thousands of years, but on-chain it barely exists. Dominion fixes that. Every SILV token is one ounce of real, audited silver you can trade, lend, and borrow against on Solana from day one. We are bringing the oldest hard asset into the most active on-chain economy." - Mark Tormey, Dominion founder
According to Dominion’s Transparency page, the issuer holds 150,000 ounces of physical silver bars, currently valued at roughly $9.7M. Dominion claims its silver holdings are stored by institutional vault storage professionals, and are routinely subject to third-party audits, the most recent of which was conducted by Bureau Veritas in June 2026.
Minting $SILV comes with a 1.5% fee, while redemptions of physical silver are expected to be operational within 3-6 months of launch.
"Silver has been traded for thousands of years, but buying a single ounce still means finding a dealer, paying to ship it, and paying someone else to store it. Sunrise enables issuers to bring assets like physical silver onchain without this friction, while enabling liquidity from day one of trading." - Saeed Badreg, CEO, Wormhole Labs
Traders and investors can alternatively purchase $SILV through Solana DeFi applications, with Sunrise spearheading liquidity services to facilitate better onchain execution.
Total Volume on Sunrise Assets Crosses $5.5B
Since its day one Monad ($MON) listing back in November 2025, Sunrise has consistently brought the wider market’s most tradable assets to Solana DeFi. Branching out of foreign Layer-1 coins like $MON and $HYPE, Sunrise’s expansion into a broader range of assets, including Backpack Securities, has accelerated volumes across listings.
According to Dune Analytics data, Sunrise-listed assets have witnessed over $5.5B in total trading volume, with more than 294,700 unique wallets trading foreign assets and tokenized securities onchain.
While the listing of traditional financial instruments, like tokenized equities, arguably represents a bigger opportunity, onchain markets are flowing the vast majority of trading volume through $HYPE. This is most likely due to the arbitrage opportunity available to traders moving $HYPE between Solana and the Hyperliquid L1.
While similar opportunities exist between Backpack’s tokenized stocks and their 1:1 counterparts, Backpack’s KYC requirement erects a potential barrier that could be discouraging to some arbitrageurs.
However, volume patterns suggest that some stocks are finding the onchain economy to be a far more liquid and high-volume venue than its TradFi rivals. In mid July, RoboStrategy’s $BOT witnessed higher trading volumes in Solana DeFi than on the NASDAQ, suggesting stronger appetite for certain assets among DeFi players than typical market participants.
Solana Trails on Tokenized Commodities Adoption
Despite an explosion of trading activity throughout Solana’s tokenized equity sector, the chain’s traders are yet to embrace commodities. RWA.xyz data suggests that the total value of Solana’s tokenized commodity market is only $23.6M, commanding a mere 0.48% of market share and falling well behind rival chains like Ethereum and BNB.
While Dominion’s $SILV launch is unlikely to cause an immediate shift in tokenized commodity rankings throughout the industry, it demonstrates the ecosystem’s desire to compete in one of global finance’s most competitive markets.
Read More on SolanaFloor
Regulators are taking matters into their own hands
SEC to Roll Out “Major Initiatives” to Turbocharge Crypto Industry as CLARITY Flounders
Solana letos přidala 468,2 milionu USD do tokenizovaných úvěrových fondů a celková hodnota jejího RWA ekosystému dosáhla rekordu 3,90 miliardy USD. Síť má už 339 421 držitelů RWA.
The Solana network has recorded the largest year-to-date growth in tokenized credit funds, adding $468.2 million in market capitalization to bring the total to $664.3 million. Token Terminal data reveals that Solana’s growth exceeds the combined gains of every other tracked blockchain, with Monad and zkSync Era following at $110 million and $70.2 million, respectively.
The surge comes as traditional financial institutions continue exploring blockchain-based investment products, pushing more regulated funds and real-world assets onto public networks.
Solana’s RWA Ecosystem Reaches $3.90B ATH
At the same time, Solana’s broader RWA ecosystem has reached an all-time high of $3.90 billion in total value, according to RWA.xyz data. The network now has 339,421 RWA holders, approaching the 340,000 mark.
The ecosystem currently hosts 2,676 different real-world assets.
Several major financial institutions have contributed to this expansion by bringing tokenized funds and investment products to Solana.
WisdomTree Expands Tokenized Funds to Solana
In January, $171 billion asset manager WisdomTree expanded its tokenized fund suite to Solana, enabling institutional and retail access.
Through WisdomTree Connect™ and WisdomTree Prime®, users can mint, trade, and hold tokenized funds onchain as part of its multi-chain strategy.
Gold Funds and Liquidity Products Move Onchain
In April, OCBC Bank, Lion Global Investors, and DigiFT launched Southeast Asia’s first tokenized physical gold fund, $GOLDX, on Solana backed by a $525.9 million gold fund.
Not long after, State Street and Galaxy Asset Management launched the SWEEP fund on Solana, allowing stablecoin holders to earn yield on idle capital with 24/7 liquidity.
Europe’s Largest Asset Managers Join Solana’s Tokenization Push
Amundi, Europe’s largest asset manager with €2.4 trillion AUM, partnered with Spiko to bring its SAFO fund to Solana under a UCITS structure.
Fellow European firm, Allfunds, administering over €1.8T in assets, expanded its tokenized funds to Solana in June via Project Harmonia, increasing institutional product availability onchain.
Sovereign Wealth Funds and TradFi Giants Join the Action
Last month, Mubadala Capital, managing $385 billion, brought its MCAS fund onchain across Solana, SUI, and Base, with over $75 million in commitments.
The move marks its first entry into onchain markets, following similar steps by BlackRock, Franklin Templeton, and Fidelity.
SEC Decision Strengthens Outlook for Tokenized Funds
Yesterday, August 12, the U.S. Securities and Exchange Commission’s Division of Investment Management issued a no-action letter to Franklin Templeton, allowing traditional registered funds to invest in the firm’s blockchain-based OnChain U.S. Government Money Fund.
The decision allows Franklin’s registered funds, including mutual funds and ETFs, to hold shares of the fund without meeting certain physical custody requirements under older regulations.
Franklin Templeton launched the fund, commonly known as BENJI, on Stellar in 2021 before expanding it to several blockchains, including Solana. The fund invests primarily in U.S. government securities and aims to maintain a stable $1 share price.
The latest regulatory development highlights growing acceptance of blockchain-based fund infrastructure as financial institutions continue experimenting with tokenized assets across multiple networks.
Read More on SolanaFloor
Solana Hit 86% of Its Halt Threshold After a Teraswitch Routing Failure
Pump.fun vs. Fomo Gets Serious as Traders Question Fomo’s Fees
XDC Network drží zhruba 1,1 miliardy USD tokenizované hodnoty, přičemž asi čtyři pětiny tvoří reálná aktiva. Většinu z nich dodávají dva emitenti: Liqi a Vert Capital. CertiK se navíc stal validátorem sítě.
Most tokenized real-world assets today are U.S. Treasuries and money-market funds. XDC Network is an exception.
Its largest tokenized asset is a USD 143 million debenture for a highway operator, part of roughly USD 860 million in real-world credit on the network: corporate debentures, agribusiness receivables, and loans to operating businesses.
It is a quieter, more granular kind of real-world asset than the headline Treasury products, and a precise picture of what XDC Network was built to carry. CertiK now helps secure that chain as one of its validators.
Real-World Credit, From Two Issuers XDC Network's tokenized value stands at about USD 1.1 billion, roughly four-fifths of its real-world assets.
Almost all of that comes from two issuers: Liqi, a tokenization platform, and Vert Capital, a securitization firm.
Liqi accounts for around USD 471 million across more than 1,800 instruments, led by a highway-operator debenture, Via Araucária, and credit tied to names like the retailer Casas Bahia.
Vert Capital adds another USD 390 million in seven structured issuances, led by agribusiness receivables certificates and a single USD 234 million issuance.
This is not the synthetic yield of early DeFi, nor the tokenized Treasuries that dominate the RWA headlines. It is ordinary real-world credit: receivables, debentures, and loans to operating businesses, issued at institutional size and settled on XDC Network.
The Real-Economy End of Tokenization These are among the harder assets to bring on-chain.
They lived in private paper and local markets, with credit tied to specific operating businesses rather than a government or a fund—the kind of exposure that is normally slow to price and hard to trade.
That is a different starting point from the standardized, already-liquid instruments that make up most tokenized real-world assets.
It reaches the part of finance that has been hardest to digitize, and it is the part XDC Network was built for.
The Rails Were in Place Before the Assets That kind of credit needs somewhere built to hold it.
XDC Network has run its mainnet since 2019, oriented from the start around trade finance and regulated settlement rather than retail speculation.
It aligns with ISO 20022, the messaging standard banks already use to move money, so a tokenized receivable settles in a format institutions recognize.
The custody and validation around it are institutional in the same way. XDC Network integrates with BitGo, Anchorage, Fireblocks, and Safe for regulated custody, and its validator set has drawn names like SBI, Deutsche Telekom, Animoca, and Republic.
For an issuer deciding where to tokenize a few hundred million dollars of receivables, that infrastructure already being there is the reason to pick one chain over another.
The ordering is the point. XDC Network assembled the trust stack first and drew the assets second, which is the reverse of a chain bolting institutional features onto retail traffic after the fact.
On-Chain, the Open Question Shifts Credit to operating businesses is one of the more opaque corners of finance.
A loan to a mid-size company does not trade on a public exchange, and its value depends on the borrower, the issuer's underwriting, and terms that are usually private.
Putting it on-chain changes part of that.
Each of Vert Capital's receivables certificates and Liqi's instruments becomes individually visible, with its issuance, size, and lifecycle trackable in real time.
For an asset class that historically settled in PDFs and spreadsheets, that is a real gain in transparency.
What on-chain settlement does not resolve on its own is the layer underneath:
Whether a token is backed by the receivable it claims Whether the issuer's process holds Whether the contract behaves as the document says The visible question moves from where an instrument is to whether it can be trusted—a different question from what a tokenized Treasury or a reserve-backed stablecoin has to answer.
CertiK Goes From Assessing the Chain to Helping Run It That is where CertiK comes in, and its role has deepened in steps.
In May, CertiK Co-Founder and CEO Ronghui Gu and XDC Foundation held a fireside discussion on real-time verification of tokenized assets and what institutional adoption requires.
CertiK had already audited the chain and keeps it under an ongoing Skynet assessment, currently in the AA tier.
The most recent step goes further. CertiK has become a validator on XDC Network, running a node that helps secure the chain those assets settle on.
For real-world credit rather than reserve-backed tokens, that shift from independent assessment to direct participation is the kind of verification the asset class actually needs.
XDC Network has put real-world credit on-chain and built the rails to settle it. Tokenizing the asset is the first half of the problem. Keeping it verifiable is the second, and CertiK now does that from inside the network, as one of its validators.
Venus na BNB Chain rozšiřuje lending o institucionální custody přístup a tokenizované akcie i zlato jako kolaterál. Na dashboardu uvádí TVL 1,024 mld. USD a 400 mil. USD v půjčkách.
A lending protocol’s credit boundary is defined by which assets can create borrowing capacity and be liquidated efficiently during market volatility.
Venus is expanding that boundary on BNB Chain by bringing institutional custody access, tokenized equities, and tokenized gold into its lending markets.
As of July 25, Venus’ official BNB Core dashboard showed:
USD 1.40 billion in total supply USD 400 million in total borrows USD 1.024 billion in total value locked (TVL) 26.8% protocol utilization
Venus is now connecting institutional custody access, tokenized stocks, and tokenized gold to that balance sheet.
The infrastructure is already in place. The next measure of progress is how much recurring borrowing demand these assets generate.
How the Venus Lending Model Works Venus Core consists of multiple asset markets. Users can supply an asset to earn interest, or enable it as collateral and borrow another asset such as USDT or BNB.
The basic flow is straightforward:
Supply an asset → enable it as collateral → borrow another asset → monitor position health → liquidate if the position falls below its threshold
If an asset has a 60% collateral factor, supplying USD 10,000 of it can theoretically contribute around USD 6,000 of borrowing capacity. As the position approaches its liquidation threshold, a liquidator can repay part of the debt and receive collateral in return.
Venus Core uses a pooled collateral model. A user’s collateral assets collectively support the account’s total debt. The protocol does not record that one specific USDT loan is supported only by NVDAB, BNB, or another individual asset.
That is why Venus’ Collateral Attribution dashboard uses a proportional attribution model. It estimates each collateral asset’s contribution to existing debt based on its value and collateral parameters.
Debt Supported is useful for measuring whether an asset is beginning to function as a credit instrument. It should not be interpreted as a one-to-one on-chain mapping between a collateral token and an individual loan.
Cactus Link Addresses the Institutional Access Problem The Venus integration with Cactus Custody focuses on how institutions enter this lending structure.
Cactus Link is a DeFi Connector provided by Cactus Custody. It allows institutional clients to access Venus through their existing custody, approval, and risk-control workflows instead of creating a separate DeFi wallet process.
The division of roles is clear:
Venus provides the lending markets and liquidity. Cactus Custody provides the infrastructure institutions already use, including HSM-backed cold storage, institutional MPC, approval procedures, and transaction controls.
Through Cactus Link, eligible clients can supply assets supported by Venus Core or use collateral such as BTC, BNB, and XAUm to borrow other assets.
For an institution holding XAUm, the most direct use case is converting tokenized-gold exposure into stablecoin liquidity without first leaving its existing custody environment.
The integration reduces an operational barrier, but adoption still has to be measured through usage.
The relevant indicators are supply entering through Cactus Link, the resulting borrow volume, the collateral mix, and whether institutions continue using the route after the initial integration period.
bStocks Have Supply. Credit Conversion Is Still Early. Binance’s bStocks have surpassed USD 400 million in assets under management (AUM) and USD 2.5 billion in cumulative trading volume.
Tokenized equities are no longer only an issuance experiment. They already have meaningful distribution and secondary-market activity.
Venus has added the next layer: holders can now use these assets as collateral.
The four live bStock markets showed:
SKHYB supply: USD 446,840 NVDAB supply: USD 139,630 TSLAB supply: USD 39,330 SPCXB supply: USD 529 Combined supply was approximately USD 626,330, equivalent to around 0.045% of Venus BNB Core supply.
Supply alone does not show how these assets are being used.
Venus’ official Collateral Attribution dashboard showed that NVDAB supported approximately USD 40,000 of attributed debt.
The distinction matters.
Supplying an asset proves that holders are willing to place it inside the protocol. Supporting debt shows that the asset is being used to obtain liquidity.
NVDAB has started to support measurable borrowing activity. The other markets remain closer to the supply-acquisition stage.
New Collateral Extends the Security Perimeter Once tokenized equities begin supporting debt, three conditions must hold at the same time:
The underlying asset and the holder’s rights must remain verifiable. The oracle must continue producing defensible prices when the traditional market is closed. Liquidators must have enough executable liquidity to exit the collateral under stress. Venus introduced the first bStock markets with relatively conservative parameters.
The stock tokens themselves cannot be borrowed. Their collateral factors range from 50% to 60%, while liquidation thresholds range from 65% to 70%. The markets also use limited supply caps and a 16.67% oracle protection trigger.
The protocol established a USD 200,000 bStock liquidation buffer for weekends and periods of limited liquidity.
If necessary, liquidators can resolve an unhealthy position on-chain and then transfer the acquired stock tokens to another market for sale.
These controls reduce the protocol’s initial exposure, but they do not remove the mismatch between two market clocks.
Venus operates continuously. U.S. equity markets close overnight, on weekends, and during holidays, and can reopen with price gaps.
Risk controls must keep oracle behavior, supply caps, collateral parameters, and practical exit liquidity aligned during these periods.
On CertiK Skynet, Venus had a Skynet Score of 92.75 and an AA tier at the July 25 snapshot. Its Code Security score was 96, while its Community score was 98.
Scores and audits provide evidence within a defined scope and point in time. They are not guarantees.
Tokenized collateral also depends on oracle behavior, issuance and redemption controls, holder concentration, and liquidation execution. These risks require continuous monitoring after deployment.
Venus deploys backup oracles, 24/7 monitoring, and a risk fund funded by protocol revenue as safeguards intended to help protect user funds.
XAUm Shows the Difference Between Backing and Lending Demand Tokenized gold presents a different comparison.
Matrixdock’s latest verification data reported 508 physically inspected gold bars, representing 16,331.184 troy ounces of gold against 16,331.179 XAUm in circulation. The indicated reserve value was approximately USD 66.09 million.
This evidence addresses whether the gold backing exists. It does not show whether holders want to use that exposure inside a lending market.
As of July 25, the official Venus XAUm market showed approximately USD 5,810 in supply. The Collateral Attribution dashboard showed that around USD 5,721 had been enabled as collateral and supported USD 2,463 of attributed debt.
That demand now exists, but it remains small.
What to Watch Next Venus has connected three components:
A scaled lending balance sheet on BNB Chain An institutional access route through Cactus Link Tokenized stocks and gold that can enter the collateral layer The pathway is already operating. The next metrics are the pace and durability of credit conversion.
Four indicators matter most:
Debt supported by each tokenized collateral asset Deposit retention after incentives decline Collateral concentration and liquidation liquidity under stress Institutional supply and borrow volume entering through Cactus Link Tokenization brings assets on-chain, but lending turns them into credit only when they can be continuously priced, used as collateral, and liquidated when necessary.
Pendle spustil na Morpho nový USDC vault, který už nasbíral zhruba 15,04 milionu USD a má podpořit likviditu na trzích s Principal Tokeny. Nabízí čistý roční výnos 14,08 %.
Pendle has rolled out a new USDC vault on the Morpho lending protocol, designed to funnel stablecoin liquidity directly into its Principal Token markets. The vault, which went live on August 4 and has already accumulated roughly $15.04 million in deposits, represents a deliberate effort to solve one of DeFi’s more persistent headaches: making sure borrowers can actually find the liquidity they need when using exotic collateral types.
For depositors, the pitch is straightforward. Park your USDC, earn a net APY of 14.08%, and collect weekly PENDLE token distributions on top of it. For the broader Pendle ecosystem, the vault acts as a liquidity engine for PT-backed borrowing, a market segment that has historically been constrained by shallow lending pools.
How the vault works The Ecosystem USDC vault was built in collaboration with Armitage, the curation arm of market maker Wintermute. Think of Armitage as the portfolio manager here: it decides where deposited USDC gets routed across Pendle’s various PT collateral markets on Morpho.
Right now, the allocation is almost entirely concentrated. Approximately 99.7% of funds flow into the PT-reUSD/USDC market, with smaller allocations directed toward PT-sUSDS and PT-USDG markets. That concentration isn’t random. It reflects where the borrowing demand actually lives.
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The utilization rate on the PT-reUSD market sits around 72%, which is a healthy number in DeFi lending. For context, utilization rates above 80% typically trigger rate increases to attract more lenders, while rates below 50% suggest tepid demand. At 72%, the market is busy enough to generate meaningful yield without creating the kind of liquidity crunch that makes depositors nervous about withdrawals.
The 14.08% net APY breaks down into two components. There’s a 4.75% base rate generated organically from borrow demand, plus an additional 9.32% sourced from PENDLE token rewards. That second figure is calculated after Morpho’s 5% performance fee, so the gross reward rate is slightly higher. Depositors also receive a weekly distribution of 7,500 PENDLE tokens, spread proportionally across all vault participants.
Why PT liquidity matters To understand why Pendle built this vault, you need to understand what Principal Tokens actually are. Pendle’s protocol separates yield-bearing assets into two pieces: the principal (PT) and the yield (YT). If you hold a stablecoin that earns 5% annually, Pendle lets you sell the future yield to someone else and keep just the discounted principal, or vice versa.
PTs trade at a discount to their underlying asset and converge to full value at maturity, functioning a bit like zero-coupon bonds in traditional finance. Traders use them in what’s called “PT-looping” strategies, where they borrow against PT collateral, buy more PTs at a discount, and repeat. The spread between the borrowing cost and the PT discount is the profit.
With up to $11.8 million in available borrowing capacity, the vault meaningfully expands the runway for these strategies.
The competitive landscape The vault sits at the intersection of two major DeFi trends: the modular lending stack and the tokenized yield market. Morpho, the protocol hosting the vault, has positioned itself as a permissionless lending layer where curators like Armitage can spin up bespoke lending markets without needing governance approval.
The 14.08% APY is competitive for a stablecoin-denominated product, particularly one that doesn’t require depositors to take on directional price risk. Most vanilla USDC lending rates on major platforms hover in the low-to-mid single digits, so the premium here comes almost entirely from the PENDLE token incentives.
That dynamic creates an important distinction for potential depositors. The base yield of 4.75% is sustainable as long as borrowing demand persists. The remaining 9.32% depends on Pendle continuing to allocate PENDLE tokens to the vault.
The concentration of 99.7% of assets in a single market, PT-reUSD/USDC, is worth watching. While it reflects current demand patterns, it also means depositors are effectively exposed to the credit risk and liquidity dynamics of that one market. Armitage’s role as curator suggests the allocation could shift over time as other PT markets mature, but for now, diversification this is not.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Derive nově přijímá Flare’s FXRP jako kolaterál pro XRP opce a perpetual futures. Obchodníci mohou obchodovat přímo ze svých peněženek, přičemž opce se vypořádávají v USDC.
In brief Derive now accepts Flare’s FXRP as collateral for XRP options and perpetual futures. Users can trade through their own wallets without relying on a centralized exchange. Options settle in USDC, exposing traders to margin and liquidation risks. XRP holders can now use Flare’s FXRP as collateral to trade options and perpetual futures on decentralized exchange Derive, Flare announced on Thursday.
According to Flare, users mint FXRP, a token representing XRP on the Flare blockchain, through its FAssets bridge that converts tokens like Bitcoin, XRP, and Dogecoin into ERC-20 tokens on the Flare network. They can then deposit the token into a Derive Portfolio Margin V2 account and trade derivatives from their own wallets.
Myriad: XRP price next move? Click to make your prediction.Options give traders the right to buy or sell an asset at a set price. Perpetual futures allow them to bet on price movements without an expiration date. XRP holders can use the products to hedge against losses, earn premiums by selling options, or speculate on the token’s price.
“Options are often the last major market to develop around an asset, and XRP has been waiting for the infrastructure,” founder and CEO of Derive, Nick Forster, said in a statement. “FXRP gives one of crypto’s largest holder bases a credible path onchain, and adding Derive’s options markets means that capital can now be hedged, used to earn premium and traded with the same sophistication available around other major assets.”
Derive’s XRP options settle in USDC rather than XRP. If an option expires at a profit, Derive pays the difference in the dollar-pegged stablecoin while the FXRP remains posted as collateral. Options sellers must hold enough USDC to cover settlement and maintain the required margin or risk liquidation.
The integration broadens FXRP’s use in decentralized finance. Earlier this month, FXRP was approved as collateral in DeFi risk management firm Sentora’s RLUSD Main vault on the Ethereum-based lending protocol Morpho. That service allows XRP holders to bridge FXRP to Ethereum and borrow Ripple’s RLUSD stablecoin without selling their XRP.
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Thunes spouští prefunding v EURC na Solaně pro okamžité eurové platby v síti pokrývající 140 zemí. Umožní to 24/7 vypořádání i mimo provoz evropských bank.
Thunes, the Singapore-headquartered global payments network, launched EURC prefunding on August 13, integrating Circle’s euro-denominated stablecoin into its Direct Global Network and SmartX Treasury system. The feature lets network members fund cross-border euro transactions instantly, even when European banks are closed for the weekend or on holiday.
How it works and who it serves The integration allows Thunes’ network members, a roster that includes fintechs, neobanks, payment service providers, and Web3 companies, to prefund euro-denominated transactions using EURC. That stablecoin is MiCA-compliant, meaning it meets the European Union’s Markets in Crypto-Assets regulatory framework.
EURC is compatible with multiple blockchains including Ethereum, Solana, Base, and Stellar.
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Thunes’ infrastructure reaches 12 billion bank accounts and wallets across 140 countries, supporting over 90 currencies and 220 payment methods.
Deputy CEO Chloé Mayenobe described the launch as “a natural evolution” of the company’s capabilities.
Building on the Circle partnership This isn’t Thunes’ first rodeo with Circle. The two companies established a partnership in October 2024, initially focused on USDC-based liquidity solutions. Adding EURC extends that relationship into euro-denominated territory.
In October 2025, Thunes rolled out a Pay-to-Stablecoin-Wallets feature, allowing direct settlement into stablecoin wallets. The EURC prefunding announcement builds on that foundation.
Why 24/7 settlement matters more than it sounds EURC prefunding lets companies park liquidity in a stablecoin that maintains a 1:1 peg with the euro, making those funds available for settlement at any hour. European markets have roughly 250 business days per year, which means traditional banking rails are effectively offline for more than 100 days annually when you count weekends and public holidays.
The bigger picture for stablecoins in payments MiCA compliance is a key enabler here. The EU’s regulatory framework for crypto assets, which went into full effect in 2024, created a clear legal basis for stablecoins issued by licensed entities. Circle obtained the necessary licenses to issue EURC under MiCA.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Hyperion DeFi vykázala ve 2. čtvrtletí rekordní čistý zisk 31 milionů USD, více než trojnásobek oproti 8,8 milionu USD v 1. čtvrtletí 2026. Hodnota jejích 2,04 milionu HYPE vzrostla na zhruba 133 milionů USD z 71 milionů USD.
Hyperion DeFi (Nasdaq: HYPD), the Nasdaq-listed DeFi company focused on the Hyperliquid ecosystem, reported record second-quarter net income of $31 million, more than triple the $8.8 million it earned in Q1 2026. The results, released on August 12, mark the second consecutive quarter in which Hyperion has set a new profit record.
HYPE Treasury Nearly Doubles in ValueThe company held 2.04 million HYPE tokens as of June 30, with gross holdings valued at approximately $133 million, up from $71 million at the end of Q1. The sharp rise reflects both additional token accumulation and a higher HYPE price during the quarter. Adjusted EBITDA came in at $53.7 million, up from $19.5 million in the prior period, driven primarily by $54.8 million in treasury gains. Staking yield contributed $527,000 for the quarter, a 69% increase, while yield-enhancement activities added a further $334,000, up 58%.
Hyperion describes its approach as a "Triple-Dip" strategy, combining a growing HYPE treasury, scalable DeFi businesses, and embedded economic upside in early-stage Hyperliquid builders. From Q3 2025 to Q2 2026, the company's adjusted gross profit grew 162%, while operating expenses excluding stock-based compensation fell 46%.
New Staking Partnerships Extend Ecosystem ReachAlongside the earnings release, Hyperion announced a HYPE Asset Use Service (HAUS) agreement with Entropy, an upcoming HIP-3 deployer, committing 500,000 staked HYPE tokens to the partnership. The company also confirmed a separate 500,000 HYPE commitment to Skew Technologies, which is building institutional perpetual futures markets and outcome-based products using Hyperliquid's HIP-3 and HIP-4 infrastructure. Under the Skew agreement, Hyperion receives equity in the company as well as a share of listing-service revenues. Skew's private beta had already attracted more than 40,000 unique sign-ups as of August 10.
The dual partnerships give Hyperion exposure to both HYPE price appreciation and on-chain network activity, consistent with its stated goal of building multiple revenue streams within the Hyperliquid ecosystem. The company reiterated full-year 2026 adjusted gross profit guidance of $5 million to $7 million, roughly five times 2025 levels, and said it expects operating cash flow to turn positive before year-end.
Hyperliquid otevřel přístup ke své Foundation provozované nízkolatenční datové infrastruktuře kvalifikovaným třetím stranám za standardizovanou cenu pod 1 000 USD měsíčně. Dříve přímý přístup vyžadoval staking 10 000 HYPE a status Tier 1 v maker rebates.
Hyperliquid opened access to its Foundation operated low latency data infrastructure to qualified third party infrastructure providers on Aug. 12, creating a cheaper route for trading firms and developers that previously faced demanding direct access requirements.
Summary
Hyperliquid opened Foundation low-latency node access to qualified infrastructure providers under a standardized pricing model. Provider pricing is currently indicated below $1,000 monthly, covering computing resources and outbound network traffic. Qualified providers need one year operating history, 100 customers, five networks, and 99.9% availability levels. Direct Foundation access previously required staking 10,000 HYPE and Tier 1 maker rebate qualification status. Providers may not offer faster dedicated lines to individual market makers under Foundation access rules. The new provider model uses a current reference price below $1,000 per month for access, covering compute and outbound traffic.
The change applies specifically to connectivity with the Hyper Foundation’s non validating node. Running an independent non validating node has always been permissionless, according to Hyperliquid’s documentation. Direct peer access to the Foundation node, however, previously required staking 10,000 HYPE and reaching Tier 1 in maker rebates, defined as more than 0.5% of 14 day weighted maker volume.
Hyperliquid Opens Low-Latency Data Nodes to Infrastructure Providers at Under $1,000 a Month
Hyperliquid Foundation has opened its low-latency on-chain data nodes to qualified infrastructure providers, allowing them to offer access at standardized pricing, currently indicated at… pic.twitter.com/LfSJuid2ZS
— Wu Blockchain (@WuBlockchain) August 13, 2026 Hyperliquid opens Foundation node access beyond major makers Qualified providers must have operated for at least one year, serve at least 100 customers and support five or more networks or protocols. They also need 99.9% node availability and cannot have been terminated by another network or foundation for a breach during the previous three months.
The commercial rules are designed to limit information advantages between customers. Providers must offer open access and nondiscriminatory pricing, scale automatically as access nodes increase and cannot provide faster dedicated connections to selected market makers. Reports of verified preferential treatment may qualify for a Hyper Foundation bug bounty.
The reference price is intended to cover computing resources and outbound traffic. The Foundation describes the figure as a current benchmark, meaning the sub-$1,000 level should not be treated as a permanently fixed price. Providers are also barred from turning Foundation peering into preferential infrastructure for an individual trading firm.
The change targets latency-sensitive trading infrastructure Hyperliquid’s Foundation non validating node is designed to provide reliable, low latency blockchain data. A non validating node follows network activity without taking part in consensus. Hyperliquid also maintains open source node software in its repository, allowing users to operate their own nodes.
The access change follows earlier adjustments to Hyperliquid’s public WebSocket feeds. In June, the network directed automated traders needing more order book levels or real time update streams toward non validating nodes. The new provider route gives smaller teams another path without independently satisfying the Foundation’s former staking and maker volume requirements.
The shift also comes as professional trading infrastructure around Hyperliquid expands. Gold-i said this week that MatrixNET had integrated direct non validating node connectivity, providing institutional clients fuller order book depth and faster, more granular market data than the standard API. Gold-i has not been identified as a participant in the newly opened Foundation provider program.
As previously reported, Hyperliquid controls an estimated 70% of onchain perpetuals volume, making data quality increasingly relevant for firms competing in its order books. Separately, the Foundation controlled share of staked HYPE fell to about 49.3% this year as the validator base expanded.
What happens next for providers and HYPE Infrastructure firms that meet the published requirements can compete to provide Foundation connected data access under the new service conditions. Hyperliquid has not announced a named list of approved providers or a fixed rollout schedule in the materials reviewed. The next test will be whether multiple providers emerge while maintaining the required availability and equal access standards.
Hyperliquid (HYPE) price chart, source: crypto.news The broader change is narrower than opening Hyperliquid’s validator set or matching engine. It lowers the barrier to a specific low latency data path while leaving independent non validating nodes permissionless. For smaller market makers and trading developers, access is therefore less dependent on holding a large HYPE stake or already commanding substantial maker volume.
TLDR CEO Simon Gerovich clarified that Metaplanet transferred 5,014 BTC (valued at $322M) between company-controlled custody addresses rather than selling Company Bitcoin reserves stay unchanged at 43,000 BTC after the internal transfers The $322 million transfer incurred approximately $8 in blockchain transaction fees Japanese firm ranks as the world’s third-largest corporate Bitcoin holder, trailing Strategy and Twenty One Capital Acquisition roadmap aims for 100,000 BTC by late 2026 and 210,000 BTC by late 2027 On August 13, Metaplanet CEO Simon Gerovich publicly addressed market speculation surrounding significant Bitcoin movements from the Tokyo-based treasury company’s wallets.
“This was a routine custody operation. No bitcoin was sold, and our holdings remain 43,000 BTC,” Gerovich stated.
His clarification followed observations by blockchain analysts who detected substantial wallet activity associated with Metaplanet during a 24-hour window. Analytics platform Lookonchain identified 3,881 BTC departing from wallets connected to the firm, representing approximately $247 million in value.
We transferred 5,014 BTC between Metaplanet custodial addresses over the past 24 hours. This was a routine custody operation. No bitcoin was sold, and our holdings remain 43,000 BTC.
All of our addresses are published, which is why the transfers were observable in real time.…
— Simon Gerovich (@gerovich) August 12, 2026
The CEO subsequently revealed that the actual amount transferred totaled 5,014 BTC, approximately $322 million at current valuations. He emphasized that all Bitcoin remained within Metaplanet’s controlled custodial infrastructure.
Notably, transferring $322 million worth of Bitcoin across the network required only about $8 in mining fees.
What Triggered the Market Speculation Substantial Bitcoin movements from publicly identified corporate wallets typically generate immediate market scrutiny. Since Metaplanet discloses its wallet addresses, the transfers were immediately observable to blockchain monitoring services.
However, wallet transfers don’t necessarily indicate asset liquidation. Companies routinely move Bitcoin among cold storage solutions, custodial partners, or internal wallets while retaining complete ownership. Wednesday’s onchain activity revealed destination addresses but provided no evidence of conversion to fiat currency.
Similar incidents have occurred previously with Metaplanet. During March, the company relocated approximately 4,986 BTC valued near $368 million following an extended period of wallet dormancy. That movement also proved to be an internal transfer rather than a divestment.
Corporate disclosure records showed no Bitcoin sale announcements from Metaplanet as of August 13. The company’s most recent regulatory filing, dated August 10, pertained to an extraordinary shareholder assembly. Their last documented Bitcoin acquisition filing was submitted July 2.
Metaplanet’s Current Position in Bitcoin Treasury Rankings With 43,000 BTC under management, Metaplanet occupies the third position among publicly traded corporations worldwide in terms of Bitcoin reserves. Strategy dominates the rankings with 840,447 BTC, while Twenty One Capital holds second place with 43,514 BTC. Metaplanet trails Twenty One Capital by merely 514 BTC.
Bitcoin traded around $63,616 on August 13, significantly below Metaplanet’s disclosed average purchase price of approximately $96,191 per coin. Lookonchain calculated the company was holding roughly $1.4 billion in paper losses at current market levels. These represent unrealized losses on the balance sheet, distinct from actual realized losses since no assets were liquidated.
Metaplanet equity traded near 223 yen at 1:14 p.m. JST, showing a modest 0.9% gain for the session. The stock experienced no significant downward pressure after the CEO’s public statement.
Metaplanet Inc., 3350.T
While the company’s primary listing operates on the Tokyo Stock Exchange, American investors can access shares through OTCQX markets under ticker symbol MTPLF.
To reach its stated objective of 100,000 BTC by the conclusion of 2026, Metaplanet must acquire an additional 57,000 Bitcoin. The firm’s most recent confirmed acquisition occurred in July, when it elevated total holdings to 43,000 BTC through a 2,823 BTC purchase during the second quarter.
Beyond treasury accumulation strategy, Metaplanet introduced a 4 billion yen Bitcoin venture program in March focused on financial infrastructure development within Japan. As of August 13, the sole official statement regarding the recent transfers remains Gerovich’s confirmation: a standard custody operation with zero impact on treasury holdings.
Ripple podpořil návrh amendment fixCleanup3_3_0 pro XRP Ledger, což je první výrazná podpora upgradu XRPL 3.3.0 od klíčového přispěvatele sítě. Aktivace na mainnetu ale stále vyžaduje více než 80% podporu validátorů po dobu dvou týdnů.
Ripple has cast its vote in favor of the fixCleanup3_3_0 amendment on the $XRP Ledger, giving the XRPL 3.3.0 upgrade its first significant endorsement from one of the network's primary contributors.
What the fixCleanup3_3_0 Amendment Covers The fixCleanup3_3_0 proposal is a bundled maintenance package that addresses targeted fixes across several protocol areas, including Single Asset Vaults, the Lending Protocol, Automated Market Makers (AMMs), Checks, and pseudo-accounts. It is one of six amendments introduced alongside the 3.3.0 release, which also includes Confidential Transfer, BatchV1_1, DynamicMPT, PermissionDelegationV1_1, and Sponsor.
Beyond the amendments themselves, the 3.3.0 release brings meaningful performance improvements. Developers have flagged a reduction in memory usage of between 10% and 15%, better online delete and node sync performance, and roughly 60 bug fixes identified through an internal AI red team process.
What Has to Happen Before Mainnet Activation Ripple's vote carries weight as an early signal, but it does not determine the outcome alone. Eight of the 35 Unique Node List (UNL) validators currently support the fixCleanup3_3_0 amendment. Mainnet activation requires the proposal to hold more than 80% validator support, equivalent to at least 28 of 35 UNL validators, for two consecutive weeks before the changes take effect permanently on the network.
That governance structure is standard for the XRP Ledger. Once an amendment clears the 80% threshold for the required two-week period, the change applies permanently to all subsequent ledger versions. Validators make independent decisions, and the proposal can fail or be delayed if support drops below the threshold at any point during that window.
Node operators face a practical deadline tied to the process. Any server that has not upgraded to xrpld 3.3.0 before the amendments activate risks becoming amendment-blocked, a status that cuts the node off from consensus and prevents it from reading or submitting new transactions.
The broader 3.3.0 upgrade is positioned as a step toward institutional readiness for the XRP Ledger, with features spanning privacy for tokenized assets, atomic transaction batching, delegated account permissions, and sponsored network fees.
Sources:
crypto.news: XRP Ledger upgrade gains Ripple vote for bundled fixes
XRPL.org: Amendments documentation
CoinGape: Ripple votes in favor of fixCleanup proposal
In major XRP news today, Ripple moved a significant amount of XRP coins to Binance crypto exchange. On-chain transaction data revealed transfers to a Ripple subwallet, followed by further transfers to Binance subwallets. This comes amid selling pressure in XRP price.
Ripple Moves Some XRP to Binance, Sparking Jitters Whale Alert flagged a major XRP transfer that highlighted Ripple moving 50 million XRP worth over $50 million. This sparked massive speculation within the XRP community amid a recent drop in price.
On-chain analysis on XRPScan revealed Ripple (50) wallet moved XRP to its subwallet raRVLN1. This indicates it is an internal transfer.
However, shortly after the transaction, the same wallet distributed some coins, primarily 1,000,000 XRP per transaction, to rBNCyN wallet address. The wallet is associated with Binance crypto exchange.
Notably, the Ripple-linked wallet has also sent 23 million XRP in total to rBNCyN wallet this week, which were then transferred to Binance (11).
Ripple Subwallet Transfer to Binance. Source: XRPScan On-chain data from XRPScan showed the Ripple subwallet executed multiple XRP transfers to these Binance-associated wallets. This is likely a Ripple operational liquidity wallet used for on-demand liquidity (ODL) or market making purposes.
Will XRP Price Witness Further Pullback or Rally? XRP price has dropped 0.5% despite Ripple’s push for XRP Ledger upgrade. The price has dropped more than 7% in a week, but has held above $1 in hopes of a breakout above the descending channel.
XRP rebounded almost 1.50% to trade above $1.01 today amid rising whale wallets and network activity. The 24-hour low and high are $1. and $1.02, respectively. However, trading volume has decreased by 24% over the last 24 hours.
However, CoinGlass data shows buying activity in the derivatives market. The total XRP futures open interest climbed more than 0.75% in 24 hours to $2.72 billion.
Notably, the 4-hour futures open interest has rebounded 0.74%. It dropped 1.18% on CME, but jumped on Binance, OKX, Bybit and other crypto exchanges.
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Ethereum returns to the center of on-chain data after the awakening of four former whales linked to the early days of the network. On Tuesday, August 11, a Genesis wallet moved 2,680 ETH after eleven years of inactivity. This reserve, acquired for about 830 dollars, was then worth 5.03 million dollars. Two other wallets had already transferred 2,000 ETH each in July. These close movements reignite selling fears, as funds long considered dormant return to the market.
In brief Four former Ethereum whales have awakened their wallets after several years of inactivity. A Genesis wallet transferred 2,680 ETH, valued at over 5 million dollars. Two other addresses had already moved 2,000 ETH each during the month of July. These transfers to exchange platforms reignite fears of a possible massive sell-off. Ethereum: Four Wallets Awaken From Sleep On Tuesday, August 11, on-chain analysis tools detected the transfer of 2,680 ETH from a Genesis wallet. The transaction was worth 5.03 million dollars at the time of the movement. Eleven years earlier, this reserve was worth only about 830 dollars. According to data provided by Whale Alert, this growth represents a gain of 605,924% since the initial acquisition.
The wallet belonged to the first ETH holders from the Genesis period. This designation refers to the units allocated during the participatory sale launched on July 22, 2014. At that time, the first buyers obtained their tokens for only 0.31 dollars.
Now, these former reserves can represent several million dollars when they re-enter the market. Ethereum attracts special attention when these historic reserves suddenly change address. It remains relevant, as each transfer alters the reading of the available supply.
The movement of August 11, however, does not come alone. On August 9, Whale Alert spotted that another pre-mining holder transferred 2,000 ETH, valued at close to 3.8 million dollars. This reserve was worth only 620 dollars in 2015. Arkham Intelligence data then indicates that the funds joined Coinbase, which further draws attention to their possible use.
A Historic Supply Gradually Returns to the Market To understand these movements, it is necessary to go back to the early stages of the network. The creators premined about 72 million ETH before the blockchain launch. About 60 million units were then allocated to buyers during a public sale aimed at financing the launch. This operation lasted 42 days and raised 31,591 BTC for the organizers.
The balance, close to 12 million ETH, was reserved for insiders. Founders and early contributors received about 6 million units. The Ethereum Foundation obtained the remaining 6 million. This distribution explains why some ancestral addresses can still hold significant reserves, several years after their creation. Ethereum sees funds created during its early network years re-emerge.
In July, two other Genesis wallets already showed similar activity. Each had transferred 2,000 ETH, with a first movement on July 20 and a second on July 26. One of the transactions ended on CoinJar, while the other distributed the funds across several addresses. These close movements thus increase visibility around former holders. Ethereum could face new transfers if other wallets move.
Transfers That Fuel Fears of Selling The succession of these operations mainly raises the question of the funds’ final destination. When ETH that has been inactive for years joins an exchange platform, the market may expect selling. However, a transfer alone is not proof of liquidation. Funds can also change custody, be distributed among several wallets, or respond to another financial decision.
The case of the four whales therefore remains to be monitored, especially when funds reach platforms like Coinbase or CoinJar. On-chain data allows tracing these movements, but they do not directly specify the holder’s intention. For Ethereum, the issue mainly concerns the reintroduction into circulation of a supply that has seemed durably inactive.
These successive awakenings come after more than a decade of fluctuations, platform bankruptcies, and lost keys. Some holders may now seek to take profits or modify the custody of their assets. Other scenarios remain possible, including estate planning or a simple wallet change. However, the repetition of movements makes this activity more visible.
In the short term, upcoming transfers will therefore be a major indicator. If the four addresses continue moving their reserves to exchange platforms, selling fears could intensify. Conversely, redistribution to private wallets would limit this interpretation. The market will thus have to distinguish technical movements from actual selling operations.
The situation will mainly depend on the behavior of these former Ether holders. The next transactions will determine whether their awakenings signal a durable reintroduction into circulation or just custody changes. For now, data mainly shows that historic reserves are starting to move again after years of silence.
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Ghiles A.
Journaliste et rédacteur web passionné par l’univers des cryptomonnaies et des technologies Web3. J’y traite les dernières tendances et actualités afin de proposer un contenu de haute qualité à un large public du secteur.
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The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
Vsazené ETH dosáhlo zhruba 34 % nabídky ETH a návrh EIP-8361 chce při růstu stakingu postupně spalovat odměny validátorů. Při aktivaci by výnos klesl zhruba z 2,6 % na 1,2 %.
Ethereum's staking boom is raising a question that cuts to the heart of the network's monetary policy: can there be too much of a good thing? The share of $ETH locked in proof-of-stake has climbed to around 34%, up from roughly 29% at the start of 2026, meaning about one-third of all circulating ether is now being used to secure the network.
A Proposal to Put a Ceiling on Staking Rewards Six researchers, including Ethereum Foundation contributor Justin Drake, published a formal draft proposal on August 4 that would progressively burn an increasing share of Ethereum validator rewards as the total staking ratio rises. The proposal, titled Tapered Issuance Burn and assigned the identifier EIP-8361, would burn an increasing share of validator rewards as the staking ratio rises, with net issuance effectively reaching zero at a 50% staking threshold.
For the roughly 889,000 active validators securing the network today, the proposal would cut their current annual yield from around 2.6% to approximately 1.2% at activation, under a phased 18-month transition designed to prevent a sudden wave of exits.
The authors frame the mechanism as a fix to a structural flaw. Under the current issuance curve, rewards decline only with the square root of total stake, leaving a residual yield floor even if nearly all ETH becomes staked. This, they contend, incentivizes perpetual growth in staking participation through liquid staking tokens, exchanges, ETFs, and custodial services, potentially concentrating control and eroding the network's capture resistance.
Opposition and Implications for ETH Treasury Firms Supporters say the change strengthens security and limits inflation, while critics warn it could hurt validator incentives and DeFi. Aave founder Stani Kulechov warned the change could make the platform's popular leveraged ETH staking loop unviable, splitting the Ethereum and DeFi communities over the plan. ether.fi founder Mike Silagadze sided with Kulechov, warning that institutions that built ETH allocations around a predictable yield floor would be blindsided by a rate trending toward nothing.
Ethereum-native treasury firms such as Bitmine and SharpLink could also face lower staking revenue if the proposal is implemented. Public companies treating ETH as a reserve asset now move meaningful volume into the validator set, with BitMine Immersion Technologies leading by a wide margin in holdings.
The proposal carries Draft status only and has not been submitted for inclusion in any forthcoming Ethereum upgrade. The network's EIP process typically takes months, sometimes years, of community review before anything nears mainnet. For now, current validator yields and reward structures remain unchanged.
Sources:
The Block: Ethereum researchers propose burning validator rewards to cap staking at 50%
The Defiant: New Ethereum Proposal Would Burn Validator Rewards
Tech Times: Ethereum Proposal Would Zero Staking Rewards Once Half of ETH Supply Is Staked
Goldman Sachs se dohodl na koupi Neos Investments až za 2,25 miliardy USD, čímž získá tři Bitcoin a Ethereum options-income ETF s majetkem přes 1,1 miliardy USD. Transakce má rozšířit jeho správu aktiv o příjmové produkty navázané na kryptoměny.
Goldman Sachs has agreed to acquire Neos Investments for up to $2.25 billion, a deal that will add three Bitcoin and Ethereum options-income ETFs managing more than $1.1 billion combined to its asset management business.
Summary
Goldman Sachs will acquire Neos Investments for up to $2.25 billion. The deal will add three Bitcoin and Ethereum income ETFs to Goldman’s asset management business. Neos manages more than $30 billion across 19 options based income ETFs. The transaction is expected to close in the first quarter of 2027, subject to regulatory approval. According to Goldman Sachs, the cash-and-equity transaction will bring Neos and its more than $30 billion in assets under management into Goldman Sachs Asset Management, subject to performance and service commitments tied to the agreement. The acquisition is expected to close in the first quarter of 2027 after regulatory approval and other customary closing conditions.
Among the 19 Neos funds included in the transaction are the Neos Bitcoin High Income ETF (BTCI), Boosted Bitcoin High Income ETF (XBCI) and Ethereum High Income ETF (NEHI), giving Goldman an existing lineup of crypto-linked income products while its own proposed Bitcoin income fund remains on file with U.S. regulators.
Goldman Sachs will inherit three crypto income ETFs Neos launched BTCI in October 2024 as an actively managed ETF designed to combine Bitcoin-linked exposure with monthly income generated through options. The fund had accumulated more than $1 billion in net assets as of Wednesday, making it the largest of Neos’ three crypto-focused products.
Rather than buying Bitcoin directly, BTCI obtains exposure through exchange-traded products linked to the cryptocurrency and uses an options strategy to generate distributions. A Neos shareholder report for the period ending November 2025 showed the portfolio using Bitcoin ETFs alongside options linked to the Cboe Bitcoin U.S. ETF Index.
XBCI, launched in February 2026, applies a more aggressive version of the strategy. The fund had about $111 million in net assets as of Wednesday and seeks roughly 150% exposure to BTCI’s underlying strategy, according to its prospectus, meaning declines in Bitcoin-linked investments can also be magnified.
Ethereum High Income ETF NEHI, meanwhile, was launched in December 2025 and had accumulated more than $77 million in net assets. Like the Bitcoin products, NEHI does not directly hold Ether and instead combines exposure through exchange-traded products with an options-based income strategy.
Neos has built the three crypto ETFs as part of a larger range of income funds covering U.S. equity indexes, fixed income, Bitcoin, Ether and gold. Founded in 2022, the investment manager now oversees more than $30 billion across 19 options-based ETFs.
“As investor demand for active ETFs grows, NEOS’ disciplined investment approach is highly complementary to our capabilities across buffer, managed outcome and income strategies,” Goldman Sachs Chairman and CEO David Solomon said.
Neos deal could affect Goldman’s filed Bitcoin ETF plans The acquisition also puts an existing Bitcoin income fund inside Goldman months after the bank filed to launch a competing product of its own.
In April, crypto.news reported that Goldman had filed a registration statement with the U.S. Securities and Exchange Commission for the Goldman Sachs Bitcoin Premium Income ETF. The proposed fund would invest at least 80% of its net assets in instruments providing Bitcoin exposure, primarily through spot Bitcoin exchange-traded products, before selling call options against part of the position.
Goldman’s filing proposed an options overwrite covering between 40% and 100% of its Bitcoin exposure depending on market conditions. Selling the calls would generate premiums for monthly income, although the structure would also limit some of the fund’s participation when Bitcoin rises sharply.
Bloomberg senior ETF analyst Eric Balchunas said following the Neos announcement that the acquisition could explain why the Goldman product filed in April has not launched.
Goldman will get $BTCI in the Neos deal, which is a $1b bitcoin premium income ETF, yields 27% and captures most but not all of bitcoins run-ups. Nowww I get why GS never launched the btc covered call product they filed months ago. Better to leap frog BlackRock’s $BITA vs me too pic.twitter.com/kCeuAAqiQo
— Eric Balchunas (@EricBalchunas) August 12, 2026 With BTCI already holding more than $1 billion in assets, Balchunas said the Neos acquisition could allow Goldman to “leapfrog” BlackRock’s iShares Bitcoin Premium Income ETF, or BITA, rather than building a competing fund from the beginning.
Goldman has not said whether it intends to withdraw, modify, or proceed with its Bitcoin Premium Income ETF following the Neos transaction.
BlackRock has already entered the Bitcoin income ETF market Competition for Bitcoin options-income products intensified in June when BlackRock brought BITA to market.
A June filing update showed that BlackRock planned to generate income by writing covered calls primarily against its iShares Bitcoin Trust, or IBIT, and Bitcoin ETF-linked indexes. The filing also set BITA’s sponsor fee at 0.65%.
BlackRock subsequently launched the fund on June 16. Unlike a conventional spot Bitcoin ETF, BITA combines Bitcoin exposure, mainly through IBIT shares, with call options written against part of the portfolio.
An analysis of BITA published after the launch found that BlackRock planned to write calls against roughly 25% to 35% of the fund’s net asset value each month while targeting annual income of between 15% and 25%. The trade-off comes from surrendering some potential gains above the strike prices of the calls when Bitcoin rises sharply.
BITA had accumulated about $59 million in net assets as of Wednesday, compared with more than $1 billion for Neos’ BTCI.
Neos’ longer operating history in the category gives Goldman an established Bitcoin income product if the acquisition closes, while XBCI adds leveraged Bitcoin-linked exposure and NEHI extends the same general income approach to Ether.
Goldman expands its options ETF business through acquisitions Neos is Goldman’s second multibillion-dollar ETF acquisition in 2026.
The firm completed its roughly $2 billion purchase of Innovator Capital Management in April, adding an investment manager focused on defined-outcome and options-based ETFs. Innovator’s products use options structures to establish predetermined ranges for potential gains and losses over specified periods.
Adding Neos would increase the scale of the same part of Goldman’s asset management operation. Goldman said derivative-income ETFs across the industry now manage about $180 billion, citing Morningstar data, after recording a compound annual growth rate of more than 70% since 2021.
Goldman Sachs Asset Management, Innovator and Neos together managed more than $130 billion across their global ETF platforms as of June 30. Goldman said the combined operation would include roughly $80 billion in active ETFs and make the firm the eighth-largest active ETF provider based on Morningstar data.
Neos co-founders Troy Cates and Garrett Paolella are expected to become partners at Goldman Sachs Asset Management once the transaction closes. Neos’ investment professionals and client-service employees are also expected to join the firm under the agreement.
Binance pozastaví vklady a výběry na síti Ontology (ONT) přibližně 2026-08-20 23:00 (UTC) kvůli síťovému upgradu a hard forku. Obchodování zůstane beze změny. Síťový upgrade a hard fork proběhnou ve výšce bloku 20 800 000, tedy přibližně 2026-08-21 00:00 (UTC).
This is a general announcement. Products and services referred to here may not be available in your region. Fellow Binancians, Starting at approximately 2026-08-20 23:00 (UTC), Binance will suspend the deposits and withdrawals of token(s) on the Ontology (ONT) network to support its network upgrade and hard fork to ensure the best user experience. The network upgrade and hard fork will take place at the block height of 20,800,000, or approximately at 2026-08-21 00:00 (UTC). Please note: The trading of token(s) on the aforementioned network will not be impacted.Binance will handle all technical requirements involved for all users.Deposits and withdrawals for token(s) on the aforementioned network will be reopened once the upgraded network is deemed to be stable. No further announcement will be posted.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. For more information, please refer to the announcement from the project team. Thank you for your support! Binance Team 2026-08-13
SEC dala Franklin Templeton zelenou k úschově fondu BENJI na Stellar. Jde o první americký registrovaný fond, který používá veřejný blockchain pro transakce i evidenci podílů.
SEC Clears Path for Blockchain-Based Fund CustodyThe U.S. Securities and Exchange Commission has issued a no-action letter giving Franklin Templeton's registered funds the go-ahead to invest in its Franklin OnChain U.S. Government Money Fund, commonly known as BENJI. SEC staff said it would not recommend enforcement action against Franklin Templeton funds over a proposed custody arrangement involving shares of the Franklin OnChain U.S. Government Money Fund.
The decision allows Franklin Templeton Investor Services (FTIS) to act as custodian for participating funds without complying with certain requirements under Rule 17f-2 that were designed around physical or certificated securities. In practical terms, that removes a significant regulatory barrier that had previously complicated how blockchain-based fund shares could be held within traditional fund structures.
The OnChain Fund is a registered government money market fund whose official shareholder records are maintained through a system combining traditional internal records with blockchain technology. The blockchain portion records transactions including purchases, redemptions, dividend distributions, net asset values, and trade information, while FTIS maintains control over the official ownership record.
BENJI, Stellar, and the Safeguards in PlaceBENJI is the onchain share token of the Franklin OnChain U.S. Government Money Fund (FOBXX), a U.S.-registered mutual fund managed by Franklin Templeton. Each BENJI token represents one share of the fund, which invests in U.S. Treasury securities, repos, and cash. The fund targets a stable $1 share price.
The OnChain Fund currently uses the @StellarOrg blockchain as its primary public blockchain, although the SEC letter says other networks may be used for certain accounts subject to eligibility. For each investing fund, FTIS will create a separate blockchain wallet and retain control of the associated private key.
The relief comes with meaningful conditions. Each investing fund must maintain procedures designed to prevent unauthorized instructions, and FTIS must maintain administrative controls that allow it to correct unauthorized transactions, freeze or migrate wallet records, and restore the official ownership record when necessary. The funds' boards must approve the arrangements and review them at least annually.
Franklin Templeton's filing pointed to features of the OnChain Fund such as hourly net asset value calculations, intraday trading, and faster transaction processing as reasons for using the structure. As of Q1 2026, the fund holds roughly $828 million in assets under management and operates across eight public blockchains: Stellar, Polygon, Arbitrum, Aptos, Avalanche, Base, Solana, and Ethereum.
The fund is the first U.S.-registered fund to use a public blockchain to process transactions and record share ownership. Wednesday's SEC letter reinforces that position and may open the door for other asset managers to pursue similar structures.
Sources:
Franklin Templeton receives SEC no-action letter for blockchain fund - Crypto Briefing
Franklin Templeton Gets SEC Relief for Blockchain Fund Custody - Crypto Times
Franklin OnChain U.S. Government Money Fund surpasses $270M AUM - BusinessWire
Circle spustila cirBTC, wrapped bitcoin pro institucionální zajištění, krytý 1:1 BTC a s on-chain ověřováním rezerv v reálném čase přes Chainlink Proof of Reserve.
@circle has launched cirBTC, a wrapped bitcoin token built for institutional collateral desks, bringing its reserve and custody infrastructure to bear on a market long dominated by BitGo's WBTC and Coinbase's cbBTC.
Bank-grade custody and real-time reserve verification Each cirBTC token is backed 1:1 by native $BTC. Custody sits with Circle National Trust, a federally chartered trust bank that operates under direct supervision of the U.S. Office of the Comptroller of the Currency. Circle National Trust operates as a qualified custodian under OCC supervision and provides regulated fiduciary custody services to Circle affiliates and their institutional clients.
Rather than relying on periodic monthly attestations, reserves are verified onchain in real time through @chainlink Proof of Reserve, giving counterparties continuous visibility into the collateral backing each token. Circle describes the product's standard as covering 1:1 backing, segregated custody, ongoing onchain reserve visibility, and strategic neutrality.
Circle Internet Group received approval from the OCC to establish a national trust bank. The new entity, formally named First National Digital Currency Bank, will operate as Circle National Trust and is supervised directly by the OCC, the federal regulator responsible for national banks and national trust banks.
Target market and competitive positioning cirBTC is now live on Ethereum, bringing wrapped bitcoin collateral into one of the deepest onchain financial markets. For institutions that operate across lending protocols, OTC workflows, market making, treasury operations, and settlement, this marks a practical expansion of bitcoin utility. Arc support is set to follow.
@circle is pitching the token at lending protocols, OTC desks and market makers that want $BTC collateral alongside $USDC as the borrow asset from the same issuer. A treasury that already settles in USDC through Circle Mint can now hold BTC exposure through the same operational pipeline, the same legal entity, and the same compliance team. That unified workflow removes a vendor-management problem that has long complicated institutional crypto operations.
The product also sidesteps a structural conflict that affects some competing products. Circle does not operate a competing centralized exchange, decentralized exchange, or lending protocol, which gives institutions a clear rationale for using cirBTC across their own venues, clients, liquidity relationships, and risk policies.
cirBTC enters a market currently led by BitGo's WBTC and Coinbase's cbBTC. Coinbase's cbBTC, launched in September 2024, carries a market capitalization of around $5.9 billion, while BitGo's WBTC remains the dominant product at roughly $8 billion. Circle is betting that regulatory credibility and issuer neutrality can carve out a meaningful share of that market.
Sources:
Circle: cirBTC Is Live on Ethereum
CoinTelegraph: Circle to Launch cirBTC Wrapped Bitcoin for Institutions
Bitcoin.com News: Circle Wins OCC Approval for National Trust Bank
Bitwise CIO Matt Hougan říká, že krypto vstupuje do éry, kdy se hodnota projektů víc posuzuje podle tržeb a jejich návratu držitelům tokenů. Hyperliquid, Uniswap i Aave už propojují poplatky s buybacky a burny.
TLDR: Hyperliquid generated over $800M in annual revenue, with about 99% of certain fees used to buy HYPE. Uniswap’s UNIfication activated protocol fees and included a one-time treasury burn of 100M UNI tokens. Aave spent about $42M buying over 205,000 AAVE in 10 months, equal to roughly 1.28% of total supply. Aave’s January 2026 revenue fell to $7.95M from $13.5M, prompting a proposal to cut annual buybacks to $30M. Crypto markets are increasingly being judged by a metric familiar to traditional businesses: how much revenue they generate and return to asset holders. Bitwise CIO Matt Hougan said in an Aug. 12 memo that this shift is weakening a long-running criticism of digital assets.
Historically, many networks could attract users, generate fees, and process billions in activity without creating direct economic benefits for native token holders. That model is changing as major protocols adopt buybacks, burns, and other mechanisms linking platform revenue with token economics.
Hougan’s argument does not equate crypto tokens with stocks. Instead, it highlights a clearer connection between protocol activity and token demand.
Hyperliquid and Uniswap Turn Protocol Fees Into Token Demand Hyperliquid provides the clearest example of the revenue model highlighted by Matt Hougan. Bitwise said the decentralized trading network generated more than $800 million in revenue last year.
The protocol directs roughly 99% of certain fee revenue toward purchasing HYPE, creating recurring token demand from trading activity. DefiLlama currently estimates Hyperliquid’s trailing-year revenue rate near $750 million, while monthly perpetual-futures volume recently reached about $190 billion.
The mechanism creates a measurable relationship between usage, fees, and token purchases. Instead of growth remaining separate from token economics, platform activity directly funds demand for HYPE through market purchases.
Uniswap has also strengthened that connection through its “UNIfication” overhaul. The governance proposal activated protocol fees and created a structure allowing collected fees to fund UNI burns.
It also included a one-time 100 million UNI treasury burn. That adjustment was significant as Uniswap had processed roughly $4 trillion in cumulative volume before the proposal was introduced. Previously, that activity did not produce a comparable direct value-accrual mechanism for UNI holders.
Aave Shows Why Revenue Alone Cannot Guarantee Token Value Meanwhile, Aave demonstrates the appeal and limits of revenue-based token analysis. The Aave DAO launched its buyback program in April 2025 and spent about $42 million purchasing more than 205,000 AAVE.
Those purchases represented approximately 1.28% of total token supply during the program’s first 10 months. However, a later proposal sought to reduce the annual buyback budget from $50 million to $30 million.
The proposal followed a drop in January 2026 revenue to $7.95 million from $13.5 million one year earlier. Aave then paused buybacks on April 19 after the rsETH incident to preserve treasury flexibility.
That decision showed why investors cannot treat protocol revenue as guaranteed token-holder cash flow. Governance decisions, security events, operating expenses, and treasury needs affect how much economic value reaches holders.
Regulatory conditions are also changing alongside these token models. SEC Chairman Paul Atkins, who took office in April 2025, has prioritized clearer rules covering crypto issuance, custody, and trading.
Still, revenue-generating tokens do not automatically give holders the legal rights associated with company shares. The shift is therefore centered on measurable value transfer rather than fees alone.
As Bitwise CIO Matt Hougan argues, revenue becomes more meaningful when token holders can clearly capture part of the economic activity a network creates.
Matt Hougan z Bitwise říká, že pokud se bude dál posilovat vazba mezi příjmy protokolů a jejich tokeny, ocenění kryptoměn mimo Bitcoin mohou vzrůst až dvojnásobně. Zmiňuje Hyperliquid, Uniswap a Aave jako příklady.
Bitwise Chief Investment Officer Matt Hougan argued on Aug. 12 that crypto valuations outside Bitcoin could rise sharply as more protocols connect revenue generated by network activity to their native tokens.
Summary
Bitwise CIO Matt Hougan says stronger revenue capture could help crypto valuations double or more. Hyperliquid routes roughly 99% of fee revenue toward HYPE purchases through its Assistance Fund mechanism. Uniswap governance has funded about 7.5 million UNI burns through protocol fees since December 2025. Aave’s first ten months of buybacks acquired over 205,000 AAVE using $42 million in allocations. SEC commissioners will consider tailored crypto offering rules at an open meeting scheduled for Friday. In a memo, Hougan pointed to Hyperliquid, Uniswap, Aave, Pump.fun and Lighter as examples of projects using fees or other protocol revenue to finance token purchases or burns. He expects more DeFi applications and layer 1 networks to adopt similar structures over the next 12 to 24 months.
His strongest forecast was explicitly conditional. Hougan wrote that “we could see valuations double or more” if his view that the link between protocol revenue and token value continues strengthening proves correct. Bitwise also states that the memo represents an assessment at a particular time and is neither a guarantee of future results nor investment advice.
Crypto valuations increasingly face a revenue test Hougan’s argument rests on a change in how some tokens capture economic activity. Historically, many governance tokens gave holders voting powers without directly tying protocol fees to token demand. Buyback and burn systems attempt to create that connection by using revenue to acquire tokens from the market and then removing them from supply or holding them in protocol controlled mechanisms.
Hyperliquid provides one of the clearest current examples. Its official documentation says trading fees flow to the Assistance Fund, which converts them into HYPE, with acquired HYPE burned and removed from circulating and total supply. Hougan estimates that roughly 99% of fee revenue has been directed toward the mechanism.
The model has already become a major part of HYPE’s investment narrative. As previously reported, Hyperliquid routed more than $1.16 billion in trading fees into HYPE purchases, creating recurring token demand linked to exchange activity. That demand still depends on trading volumes and fee generation, meaning weaker activity would reduce the amount available for future purchases.
Hougan compared the structure with stock buybacks, but the comparison has limits. A crypto token does not automatically carry the legal rights attached to corporate equity. Token holders generally lack a shareholder’s contractual claim on profits, assets or distributions, and governance can change token economics. Hougan acknowledged those differences in his own analysis.
Uniswap and Aave show two different revenue models Uniswap has moved further toward an automated burn structure since governance approved UNIfication in December 2025. The measure burned 100 million UNI from the treasury and activated protocol fees for v2 and v3 pools. By July, Uniswap governance reported that protocol fees had financed about 7.5 million additional UNI in burns, worth roughly $25.6 million at the figures used in its proposal.
The system has continued expanding. An onchain vote to activate v4 protocol fees on Ethereum, Arbitrum, Base, BNB Chain, Polygon, Optimism and Robinhood Chain was executed on July 27 with 46.6 million UNI voting in favor. In related coverage, Uniswap expanded its revenue-linked UNI burn mechanism as governance pushed protocol fees into more versions and networks.
Aave uses a different structure. DAO funding records show its buyback program acquired more than 205,000 AAVE during its first 10 months after launching in April 2025. About $42 million had been allocated to those purchases, representing more than 1.28% of AAVE’s 16 million total supply.
Aave’s broader revenue framework is also evolving. Its Aave Will Win proposal directs 100% of revenue from Aave branded products to the DAO treasury, after specified partner revenue sharing and user incentives. The framework also states that the DAO receives protocol fees. That does not mean every dollar reaching the DAO is automatically and immediately used to purchase AAVE.
Kulechov said in June that “100% of Aave Protocol and GHO revenue goes to the $AAVE token,” while also saying the team was designing an automated and nondiscretionary Aavenomics 3.0 buyback system. The distinction matters because the new automated mechanism was described as work in progress rather than an already completed deployment. Earlier crypto.news coverage showed Aave governance considering larger recurring AAVE buybacks.
Pump.fun and Solana push revenue capture beyond DeFi Pump.fun has made its fee model unusually explicit. Its official token page lists 50% of protocol revenue as allocated to buybacks. The platform previously moved from a model that committed all revenue to purchases to a structure that directs half of net revenue toward automated PUMP buybacks and burns.
The mechanism is producing measurable activity. As crypto.news reported this week, Pump.fun generated $10.03 million in weekly protocol fees while burning $5.02 million of PUMP during Aug. 3 through Aug. 9. The platform said 2.15 billion PUMP were purchased and burned during that period.
The same debate is moving to base layer economics. Hougan cited Solana’s SGP 0003 process, which combines proposals designed to increase fee burns and reduce token issuance more quickly. One component, SIMD 0553, would replace Solana’s flat signature fee with an inclusion fee plus a resource based charge that is burned.
Modeling from proposal author Temporal estimates that full implementation could raise daily burns from roughly 648 SOL to between 7,500 and 9,000 SOL at comparable network activity.
The proposal has moved beyond an initial concept. Validator signaling cleared the required threshold on Aug. 5, and the formal governance process is now underway. The proposal still requires validator approval, so the projected increase in SOL burns should not be treated as an implemented change.
U.S. regulation may decide how far revenue models spread Hougan attributes part of the shift toward token revenue mechanisms to a more permissive U.S. regulatory environment. His argument references the Ripple litigation and the change in SEC leadership, but the legal history requires more precision than simply saying XRP was ruled not to be a security. The district court found Ripple’s institutional sales violated securities laws while certain other sales did not constitute investment contracts. The SEC and Ripple dismissed their appeals in August 2025, leaving the final judgment in place.
The regulatory framework has since changed further. In March 2026, the SEC adopted an interpretation that created categories for crypto assets and addressed when a nonsecurity crypto asset may nevertheless be involved in an investment contract. Chairman Paul Atkins described the framework as an effort to provide clearer boundaries under existing federal securities laws.
That does not amount to a blanket legal approval for token buybacks, burns or revenue distributions. The securities analysis can still depend on how a token is offered, what rights or promises accompany it and the relationship between buyers and a project team. Hougan’s claim that regulatory change will accelerate revenue capture is therefore an investment thesis rather than an established legal outcome.
The next U.S. development arrives quickly. The SEC is scheduled to hold an open meeting at 10 a.m. ET on Aug. 14 to consider whether to propose tailored offering rules for certain investment contracts involving crypto assets. The agenda does not say those rules will specifically authorize token revenue sharing. Any proposal would also precede further rulemaking steps before becoming final.
That regulatory process will matter to Hougan’s broader thesis. As crypto.news previously reported, Hougan expects U.S. crypto growth to continue despite delays to the CLARITY Act, partly because he believes agency rulemaking can provide another route toward clearer operating conditions. Whether those rules make revenue capture easier, and whether investors assign higher valuations as a result, remains unproven.
GSR shifted its Core3 model toward Solana on Aug. 12, raising SOL to 43.6% of the portfolio and making it the model’s largest allocation.
Summary
GSR raised Solana to 43.6%, making SOL the largest allocation in its Core3 model portfolio. Bitcoin fell to 16.9% of Core3, while Ether’s allocation declined to 39.5% this week overall. Solana gained 2.98% over seven days, outperforming Bitcoin and Ether in GSR’s latest weekly comparison. Ether remained the strongest 30 day performer, rising 7.88% despite its reduced model portfolio weight. Core3 gained 5.30% monthly but still trailed the equal weight basket over longer measured periods. Ether fell to 39.5%, while Bitcoin dropped to 16.9%, the smallest weight among the three assets.The firm said the change reflected a move in its relative alpha signals toward Solana as SOL showed stronger near term price momentum. GSR’s written commentary lists the Solana weight at 43.7%, while the accompanying allocation table shows 43.6%. This article uses the table figure.
GSR Model Makes Solana Top Allocation to 43.6%, Cuts Bitcoin to 16.9%
GSR’s Core3 model portfolio raised its Solana allocation to 43.6%, making SOL its largest position, while cutting Ether to 39.5% and Bitcoin to just 16.9%, as the model’s relative alpha signals shifted further… pic.twitter.com/C0aRl77W4h
— Wu Blockchain (@WuBlockchain) August 13, 2026 Solana allocation jumps 7.1 points in one week The latest allocation marks a sharp reversal from the prior week. On Aug. 5, GSR assigned 36.5% to Solana, 44.1% to Ether and 19.3% to Bitcoin. Solana therefore gained 7.1 percentage points in the model within seven days, while Ether lost 4.6 points and Bitcoin lost 2.4 points.
As crypto.news previously reported, the prior weekly allocation tilted toward Bitcoin as trading activity weakened and volatility eased. The Aug. 12 update reversed part of that move. GSR said its latest positioning reflected proprietary relative signals rather than a simple ranking of recent returns.
The distinction matters because Core3 is not presented as a live investment recommendation. GSR says the weekly publication is a model framework intended for professional investors and does not constitute advice or a recommendation to allocate to the three assets.
Solana leads weekly returns while Ether leads the month Solana delivered the strongest seven day return in GSR’s latest table, gaining 2.98%. Bitcoin declined 1.02% over the same period, while Ether slipped 0.20%. Over 30 days, however, Ether remained ahead with a 7.88% gain, compared with 3.19% for Bitcoin and 2.44% for Solana.
The Core3 model itself returned 0.85% over one week and 5.30% over one month, ahead of the equal weight basket at 0.59% and 4.68%, respectively. Longer periods remain weaker. Core3 was down 35.58% year to date and 70.28% over one year, compared with losses of 32.22% and 63.44% for the equal weight basket.
Volatility also remained relatively subdued. GSR put 30 day volatility at 26.82% for Bitcoin, 39.75% for Ether and 35.26% for Solana. The firm said Solana trading volume had softened over both seven and 30 day periods, meaning its larger model weight did not coincide with stronger volume across those windows.
U.S. Solana access expands as GSR favors SOL The model shift comes as U.S. investors gain more exchange traded routes to Solana exposure. Morgan Stanley Investment Management announced on July 28 that it had launched the Morgan Stanley Solana Trust, MSOL, on NYSE Arca alongside an Ether product. The release said MSOL carries a 0.14% expense ratio and seeks to track SOL while staking a portion of its holdings.
Morgan Stanley expanded its crypto ETP lineup after launching a Bitcoin product earlier in 2026. An SEC prospectus says the Solana trust may stake up to 100% of its SOL under normal market circumstances, subject to liquidity needs and legal or regulatory considerations. The filing also details risks tied to staking, custody and concentration in one digital asset.
Competition among U.S. products has also increased. A 21Shares filing dated July 27 said the issuer would waive TSOL’s 0.21% sponsor fee for one year beginning July 28. The company said the product can capture staking rewards, while warning that rewards can fluctuate and staking creates operational and liquidity risks.
Those product developments do not prove that U.S. investors share GSR’s preference for Solana. They do show that regulated U.S. exchange traded access to SOL has broadened and become more competitive while the Core3 model has shifted exposure away from Bitcoin and Ether.
What traders will watch next GSR publishes the Core3 model weekly, making the next allocation an immediate test of whether the Solana overweight persists or reverses. Recent updates show how quickly the weights can move. Bitcoin rose from 9.2% on July 15 to 19.3% on Aug. 5 before falling back to 16.9% in the Aug. 12 model.
Volume, relative momentum and volatility will therefore remain useful measures to watch alongside the next model update. GSR has already cautioned that its opinions and estimates can change without notice as market conditions change.
The firm also warns against treating Core3 results as returns available from a live strategy. Its published figures are hypothetical, gross of transaction and management fees and exclude staking rewards. GSR further states that it may trade the assets for its own account and may hold positions that differ from the views expressed in its commentary.
Robinhood Chain dosáhl nového maxima s průměrem asi 11,6 milionu transakcí denně za poslední týden, což je zhruba o 30 % více než týden předtím. Celková uzamčená hodnota (TVL) zároveň vzrostla na zhruba 473 milionů USD.
Robinhood Chain, the Ethereum Layer 2 built by the trading platform using Arbitrum technology, has shown strong recent throughput. Over the most recent full week of available data, the network processed an average of approximately 11.6 million transactions each day.
This level set a new high for the chain and represented a roughly 30 percent increase from the prior week’s daily average.
Total value locked on the network also advanced, reaching about $473 million.
That marked a 32 percent week-over-week rise, reflecting continued capital movement onto the chain.
User metrics moved more modestly. Average daily active accounts increased only 3.3 percent from the previous week and remained roughly 11 percent below the high point recorded on July 16.
A short-lived rise in activity occurred after the Cashcat memecoin appeared for spot trading inside the Robinhood application, yet this did not meaningfully lift the weekly average for active accounts.
The pattern points to greater intensity of use among an established group of participants rather than a broad influx of new ones.
Existing accounts appear to be generating more transactions per user, which has lifted overall volume even as the size of the active base has stayed relatively stable.
A notable contributor to the TVL expansion has been the growing presence of Ethena’s USDe.
Holdings of the synthetic dollar on Robinhood Chain have climbed to around $253 million, equivalent to roughly 43 percent of the network’s overall stablecoin supply.
One month earlier the figure stood near $17 million, when Robinhood’s own USDG held the larger share.
The shift toward a yield-oriented synthetic stablecoin tends to encourage capital to settle into deposits and related positions instead of circulating primarily through high-frequency trading.
This helps explain why locked value has continued to climb alongside a flatter trajectory for unique active accounts.
Since its public mainnet launch in early July, Robinhood Chain has drawn attention for rapid early growth in both activity and deposits.
While speculative trading has played a visible role, the latest weekly figures highlight how changes in stablecoin composition can shape network metrics.
Transaction counts have reached new peaks through higher usage frequency among current participants, and the expansion of USDe has provided clear support for total value locked.
These developments leave open questions about the breadth of future participation.
Sustained growth in unique active users would indicate broader adoption beyond the current cohort, while continued reliance on yield-seeking deposits could keep TVL elevated even if trading intensity varies. For now, the combination of record-level average daily transactions and USDe-driven capital inflows stands as the clearest recent signal of activity on the network.Primary data and analysis source:
Kalshi zpřístupnila svůj live order book přes DoubleZero Edge, včetně dat úrovně 1 a 2 pro sportovní kontrakty a krypto perpetual futures. První rok se vzdá podílu na výnosech z dat.
Kalshi has opened its live order book to DoubleZero Edge subscribers, providing Level 1 and Level 2 data for sports contracts and crypto perpetual futures through a dedicated fiber network.
Summary
Kalshi has become the first prediction market to publish real-time order book data through DoubleZero Edge. The feed covers Level 1 and Level 2 data across sports and crypto perpetual markets. Kalshi will waive its publisher revenue share for one year, though subscribers must still pay network fees. DoubleZero plans to add historical Kalshi data in a later release without a stated launch date. Kalshi feed provides full order book depth DoubleZero Foundation and Kalshi said in an Aug. 12 announcement that the exchange’s live order book is now available through DoubleZero Edge, starting with its most actively traded sports and crypto perpetual futures contracts.
Under the rollout, subscribers can receive Top of Book and Trades information, known as Level 1 data, alongside Depth of Book information, or Level 2 data. Level 1 shows the best available bid and ask prices as well as completed trades, while Level 2 displays orders across several price levels.
Full book depth can give quantitative firms and market makers a more detailed view of liquidity than a basic price feed. According to the companies, subscribers receive the information in a sequenced, machine-readable format that can be integrated into automated pricing, hedging and trading systems.
Before the new feed, DoubleZero said firms often had to gather individual responses from Kalshi’s application programming interfaces and rebuild the order book on their own servers. Edge packages the data into a subscription product, removing part of that internal processing work.
The launch covers every Kalshi sports event and crypto perpetual futures market included in the initial categories, according to the release. Kalshi Research supplies the published information, while DoubleZero handles its delivery to connected subscribers.
Neither company disclosed the subscription price, number of initial customers or measured latency for the Kalshi feed. DoubleZero described the connection as low-latency but did not release independent tests comparing its performance with direct API access or other market-data services.
Historical data is also absent from the first version. DoubleZero said it intends to offer historical Kalshi information in a future release, although the company provided no schedule or pricing details.
DoubleZero applies its fiber network to prediction markets Rather than sending each subscriber a separate copy of the feed, DoubleZero Edge uses multicast distribution. Under that model, a data publisher sends the information once before the network delivers it simultaneously to connected users.
DoubleZero said its system carries exchange and blockchain data over dedicated fiber instead of relying only on the public internet. Traditional exchanges, including the New York Stock Exchange, Nasdaq and CME, have used similar distribution models to supply trading firms with real-time information.
Austin Federa, co-founder of DoubleZero, said established financial firms have spent years building private networks that move data quickly and consistently. Crypto markets, perpetual futures venues and prediction platforms, he added, developed without the same shared infrastructure.
“Traditional finance got this concept exactly right: data access is a critical part of market structure,” Federa said.
The Kalshi rollout extends a service that first focused on blockchain data. In April, crypto.news reported that DoubleZero had launched its Edge public beta with 379 Solana validators publishing transaction data through the network.
At launch, those validators represented about 43% of Solana’s staked supply. The April service sent raw Solana packets over private fiber and recorded an average delivery improvement of six milliseconds compared with conventional routing, according to DoubleZero data cited in the earlier report.
Subscription prices for the Solana beta ranged from $30 to $100 in USDC per device and per epoch, depending on location. DoubleZero has not said whether the same pricing structure applies to the Kalshi product.
Andy Ross, Kalshi’s head of institutional, said firms using the exchange increasingly overlap with participants in traditional markets. Making the order book available through Edge, Ross said, gives those companies another data connection for markets traded on Kalshi.
Kalshi waives its data revenue share for one year As part of the commercial arrangement, Kalshi will not collect its normal share of Edge subscription revenue during the feed’s first year.
DoubleZero said data publishers usually receive a percentage of subscription fees after the protocol burn. With Kalshi waiving that share, the initial price will be based on network delivery rather than an added data-licensing charge from the exchange.
The waiver does not provide free access. Trading firms must subscribe to DoubleZero Edge and meet its connection requirements before receiving the feed, while the companies have not disclosed the network fee charged for this specific product.
Once the first year expires, Kalshi could begin receiving part of the subscription revenue under DoubleZero’s standard publisher model. The announcement did not disclose the prospective percentage or confirm whether customer prices will change when the waiver ends.
Demand for a more structured feed comes after trading activity across prediction markets climbed during the summer. Data covered on Aug. 3 showed that combined July prediction-market volume reached $50.59 billion, up 7.8% from the revised June total of $46.95 billion.
Kalshi accounted for $37.7 billion, or about 74.5%, of the combined July figure for Kalshi, Polymarket and Polymarket US. The data measured taker notional volume, meaning the total did not represent exchange revenue or new customer deposits.
U.S. traders gain another route to regulated crypto data Kalshi’s crypto feed includes contracts introduced during its expansion from event markets into regulated perpetual futures. In June, the exchange launched Bitcoin perpetual futures after receiving approval from the Commodity Futures Trading Commission.
The BTCPERP contract follows Bitcoin’s spot price and remains open without a fixed expiration date. According to the CFTC’s May 29 order, Kalshi must list and maintain the product under the Commodity Exchange Act and the rules that apply to designated contract markets.
Kalshi later added other crypto-linked perpetual contracts. The products gave eligible U.S. traders domestic access to derivatives that had largely been offered by offshore exchanges, while their order book data can now be delivered through the DoubleZero connection.
Kalshi has held CFTC designated contract market status since November 2020. In January 2025, the regulator modified its designation to permit intermediated futures trading, according to the CFTC’s registry.
Federal registration has not settled every legal question surrounding the sports markets included in the new feed. Several states argue that Kalshi’s sports event contracts fall under local gambling laws, while Kalshi maintains that the CFTC has exclusive authority over contracts traded on its federally regulated exchange.
A Washington court blocked Kalshi from offering sports contracts to residents in July after rejecting the company’s federal preemption argument. A Michigan judge had also temporarily restricted the exchange’s sports contracts in June over allegations that Kalshi operated without licenses required under state gambling law.
