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Brazil has filed a civil collective moral damages lawsuit against Discord seeking 500 million reais, roughly $97 million, over what it says are failures to comply with laws protecting children and women, per Reuters.
Solicitor General Jorge Messias announced the action Wednesday. It follows an order this month from the National Data Protection Authority requiring Discord to suspend livestreams and video calls in Brazil, issued after a 13-year-old girl died by suicide following a broadcast in which authorities say she was encouraged to harm herself. Discord filed an appeal against that suspension on Monday, which the agency told AFP is under review.
Brazil levies fines against Discord and TikTok
The lawsuit exceeds what the regulator itself could impose. The data protection agency launched its probe in early August on the recommendation of the Digital Rights Secretariat and gave Discord five days to demonstrate how it protects children and teenagers, with penalties of up to 50 million reais if it fails, MLex reports. It ordered the suspension on August 12, and Discord complied on August 17, saying it was seeking a solution to restore the features.
Going to court for ten times the administrative maximum is how the government reaches past its own regulator. The Discord suit arrived within a week of the enforcement. On Tuesday, the authorities in Brazil also fined TikTok 153.7 million reais, close to $30 million, for irregularities in processing the data of children and adolescents, and ordered ByteDance to delete data collected in breach of the rules, per AFP. The regulator estimated that the company might have processed data from as many as 8 million children and cited flaws in the process of age verification.
TikTok has 10 days to appeal, and the company has said that it will be complying with new rules that include tougher default privacy settings for under-16s, increased parental controls, and enhanced content filtering. The company agreed last week to pay $400 million to settle a separate US Justice Department case over children’s privacy. Agency director Lorena Giuberti Coutinho said proceedings began last week to check whether 22 social media networks and platforms comply with a child protection law Brazil passed this year.
The law requires accounts belonging to users under 16 to be linked to a parent’s and obliges platforms to verify ages. “I think we can expect much stronger enforcement action in the months ahead,” Lorena Giuberti Coutinho said. Brazil has moved against large platforms before. X was blocked for 40 days in 2024 until it complied with Supreme Court orders to remove accounts accused of spreading disinformation. Separately, the consumer rights group Collective Defense Institute is seeking 3 billion reais from the Brazilian units of TikTok, Kwai and Meta over minors’ use of their services.
The post Brazil drags Discord to court for $97 million first appeared on Coinfea.

Moonwell suffered an exploit on Wednesday after an attacker manipulated the price of MAMO on its Base lending market and used the inflated collateral to borrow real assets that it never repaid. The losses are estimated to be in the range of about $4 million to $9 million.
The attack drained cbBTC, USDC, wstETH, and ETH out of real depositor liquidity. Moonwell, a decentralized lending protocol, has suffered its third security incident in nine months. An attacker manipulated the price of the illiquid MAMO token on Moonwell’s Base lending market, driving its value up about eightfold from around $0.0105 to nearly $0.088 and allowing them to borrow real crypto assets like cbBTC, USDC, wstETH, and ETH against inflated collateral that was never repaid.
Moonwell suffers its third incident in nine months
The security firm ExVul says the attacker spent about $7 million buying MAMO to force the price up, then sold roughly $3.2 million of it back, taking a loss of close to $3.8 million on the token trades alone. The loss was a calculated cost that let the attacker borrow around $10 million in real assets from Moonwell, leaving a net haul of roughly $6 million. The Blockaid security firm first flagged suspicious activity against the mCBTC market, reporting an initial drain of 50.6 cbBTC, worth over $4 million.
The attacker’s wallet then moved most of the stolen funds, holding just over $4,600 hours later. Because the exploit was still unfolding, loss estimates shifted in real time. Blockaid’s early estimate was just over $4 million, the lowest figure, while ExVul put the loss at roughly 71.36 cbBTC, worth about $5.7 million. CertiK said the attacker’s address had collected close to $8.7 million, while others reported that $9 million had already been drained.
Meanwhile, the native governance token of Moonwell, WELL, initially spiked about 25% but later corrected downward by roughly 13% to around $0.0032. The company has about $72.77 million in total value locked, according to DeFiLlama, making the attack a significant blow to both the protocol and depositors. The Moonwell team acted quickly after the attack, cutting the MAMO market’s borrowing limit to the smallest possible amount (1 wei). The move basically stopped anyone from borrowing more against that token.
They also lowered the supply limits for both MAMO and WELL. The attack is currently under investigation. Before this incident, Moonwell had suffered two oracle-related failures. The first occurred in November 2025, when a spot-price manipulation classified as oracle manipulation occurred. On February 15, 2026, a separate $1.78 million bad-debt event occurred due to a misconfigured cbETH oracle that reported the asset at about $1.12 instead of roughly $2,200. The second incident drew more attention because the relevant code changes listed Anthropic’s Claude Opus 4.6 as a commit co-author, and that sparked a debate over AI-assisted “vibe coding” in DeFi.
The post Moonwell hit for $9 million in price manipulation exploit first appeared on Coinfea.

Bithumb secured its second first-instance judgment on Thursday, ordering a customer to return proceeds from bitcoin mistakenly credited in February.
The decision came one day after another ruling favored the exchange in a separate recovery claim. Two of its four lawsuits remain pending as smaller domestic competitors Coinone and Korbit introduce trading fee waivers.
Bithumb Court Decisions Advance Recovery Claims
Judge Kim Yu-seong of Seoul Central District Court’s Civil Division 90 upheld an unjust enrichment claim against a customer identified only as A. The single-judge case involved 194,000,443 won, the second-largest claim among the four lawsuits.
On August 26, the same court awarded Bithumb 4,989,990 won in another case. Both proceedings used public notice service, which deems documents served through posting when defendants’ addresses or workplaces cannot be located.
Claims involving 500 million won and 14.8 million won remain undecided. Bithumb sued four customers in March after they sold mistakenly credited bitcoin and retained the proceeds.
The February error occurred when an employee selected bitcoin instead of won while processing event rewards. Users received 620,000 BTC units, reportedly worth approximately $43 billion, exceeding the exchange’s actual bitcoin holdings, according to Cryptopolitan.
Financial authorities said Bithumb froze trading and withdrawals after discovering the mistake, recovering 618,214 units. However, 1,786 BTC had already been sold. On March 10, Bithumb told the National Assembly it had recovered 99% of 1,788 units outstanding at that stage.
Bitcoin Payout Error Prompts Regulatory Proposals
Following the incident, the Financial Services Commission (FSC) proposed continuous reconciliation systems comparing customer ledgers with exchange holdings every five minutes. Proposed safeguards also included automated verification and multiple approvals for manual transactions, including event rewards.
Separately, Cryptopolitan reported that identity-verification failures had resulted in a 36.8 billion won fine, approximately $25 million. Bithumb also received a six-month partial suspension, which it paused on May 1, allowing operations until a final ruling.
Bithumb Faces Competition From Fee Waivers
Coinone eliminated fees for trading every cryptocurrency listed on its platform and offered a renewable 30-day zero-fee voucher. Digital X, Korbit’s operator, waived won-market fees for one year through August 24, 2027.
Mirae Asset Consulting recently acquired more than 97% of Korbit, taking control of the exchange. Korea Investment & Securities, meanwhile, holds a 20% ownership stake in rival exchange Coinone.
This month, Coinone accounted for 2.39% of won-denominated trading volume, while Korbit held 0.52%. Upbit led with 68.11%, followed by Bithumb at 28.95%.
Bithumb recorded more than 2 trillion won in trading volume over 24 hours last Saturday. Bitcoin briefly traded above $80,000 during that period. The increase followed an 83.4% decline in the exchange’s operating profit during the first half of the year.
The post Bithumb Wins Second Court Ruling Over Bitcoin Payout Error first appeared on Coinfea.

Bitcoin reclaimed its short-term holder cost basis convincingly for the first time since April 2025, according to Look Into Bitcoin.
CoinGlass reported an August gain exceeding 25%, putting Bitcoin on course for its best August performance since 2017. The advance unfolded over 10 days, from $62,000 on August 17 to approximately $81,000 on August 25.
Bitcoin subsequently traded near $78,500, while resistance at its declining 50-week moving average continued to limit the broader recovery.
Bitcoin Moves Above Recent Holders’ Average Cost
Bitcoin crossed the Short-Term Holder Realized Price of $67,125 on August 19 and remained above that threshold afterward. At the reported price, Bitcoin stood approximately 17% above this cost basis, providing a buffer above the reclaimed threshold.
The metric measures the average cost basis of coins last moved within 155 days, representing what recent holders paid.
Prices below this threshold leave the cohort with unrealized losses, encouraging selling during rebounds as holders seek to recover costs. A sustained recovery above it puts those holdings into unrealized profit, changing the level’s role from resistance to support.
Bitcoin Ends Ten Months Below Holder Cost Basis
The previous convincing reclaim occurred in April 2025, weeks after Bitcoin reached approximately $75,000 during the tariff selloff.
Bitcoin remained above the threshold throughout that summer before falling decisively below it after the October 10 liquidation cascade. Recovery attempts subsequently failed until the latest breakout, leaving recent holders below their average purchase cost for roughly ten months.
Bitcoin briefly touched this cost basis in May but failed to hold it, reinforcing resistance before the latest breakout.
Look into Bitcoin’s historical examples, including the 2019 recovery, March 2020 crash, mid-2021, late 2022 lows, and periods through 2024. These recoveries have clustered near turning points, although identifying them retrospectively is easier and the full-cycle sample remains small.
Recent holders selling relief rallies four weeks ago now hold paper gains, changing their position during a 5% decline.
Bitcoin Faces Resistance at the 50-Week Moving Average
Bitcoin reached $81,265 this week, touching the 50-week moving average at $81,063 before closing approximately $2,300 beneath it.
The average supported repeated pullbacks during the 2024 and 2025 advance, but that relationship reversed after November 2025’s breakdown. It also acted as resistance during the extended declines of 2018 and 2022.
Its slope has continued falling since November, leaving the longer-term structure unchanged despite the short-term holder reclaim. Rejection at a declining long-term average remains consistent with an existing bearish structure.
A broader trend change requires a weekly close above $81,063, followed by the moving average flattening. Until those conditions occur, the reclaim near $67,000 remains the identified structural improvement, while weekly resistance remains intact.
The post Bitcoin Reclaims Short-Term Holder Cost Basis as $81K Weekly Resistance Holds first appeared on Coinfea.

Roman Storm said court records show blockchain analytics firm Chainalysis operated a Tornado Cash relayer and collected fees in 2022.
The same company later helped United States prosecutors trace transactions and build their criminal case against the developer in federal court.
Chainalysis relayer role draws criticism
Relayers let mixer users withdraw funds without exposing wallet addresses. Storm argued that records from his case show Chainalysis provided this service for Tornado Cash and received fees.
“So the company that helped trace my ‘criminal’ transactions was itself profiting from Tornado Cash transactions, while I was prosecuted over software I helped create,” Storm wrote Tuesday on X.
He also criticized the continued prosecution. “Prosecutors are supposed to protect American interests and go after people who broke the law,” he wrote.
“A jury deadlocked on the two most serious counts against me. And still SDNY won’t stop, because this case was never just about me. It’s about setting an example.”
Retrial moves to April 2027
United States District Judge Katherine Polk Failla postponed Storm’s retrial from October 26, 2026, to April 26, 2027. A final pretrial conference is scheduled for April 20 at Manhattan’s Thurgood Marshall Courthouse.
The change followed an August 3 defense motion seeking 90 preparation days after Failla rules on Storm’s acquittal motion. Prosecutors opposed the adjournment, but Failla approved it while the motion and continuance request remain pending.
Storm filed the acquittal motion in September 2025, with oral arguments heard in April. No decision followed for roughly one year.
“My acquittal motion is still sitting there, undecided,” Storm wrote. “I honestly don’t know when this ends.”
Deadlocked charges return before jury
A Manhattan jury convicted Storm in August 2025 of conspiring to operate an unlicensed money-transmitting business. The offense carries a five-year maximum sentence.
Jurors could not reach verdicts on conspiracy to commit money laundering or violate United States sanctions. Prosecutors will retry both counts, carrying a potential 40-year sentence.
The Southern District of New York case began in August 2023 and has continued for three years. Storm was arrested in Washington state, pleaded not guilty, and received a $2 million recognizance bond. Co-founder Roman Semenov remains at large after being charged alongside him.
Supporters describe the prosecution as a test of whether writing code constitutes a crime. The Solana Policy Institute pledged $500,000 toward the Tornado Cash founders’ defense in 2025.
Ethereum co-founder Vitalik Buterin publicly supported Storm and called privacy “necessary for many parts of our society.”
Storm’s attorneys also cited a recent Supreme Court ruling involving internet provider Cox. That decision found Cox was not responsible for customers pirating music. The defense argued its reasoning should similarly protect developers from liability for how others use their software.
The post Roman Storm Accuses Chainalysis of Earning Tornado Cash Relayer Fees first appeared on Coinfea.

Shinhan Visa stablecoin deal will test token issuance, transfers, and redemption through Visa’s established payment platform in South Korea.
The strategic agreement marks Shinhan Financial Group’s second stablecoin partnership within four months.
The companies signed the agreement on August 24 at Shinhan’s headquarters in central Seoul. Their pilot seeks to develop a business model suited to South Korea’s financial market. The pilot covers issuance, remittance, and redemption functions.
Visa Platform Supports Broader Payment Trials
The partnership will test stablecoins across issuance, person-to-person transfers, and conversion back into cash. Shinhan and Visa will also examine their use for settling card payments.
Further work will cover artificial intelligence-powered payment models and expanded business-to-business and business-to-consumer payment services. Shinhan plans to connect Visa’s global network with key subsidiaries, including Shinhan Bank, Shinhan Card, and Jeju Bank.
Jin Ok-dong, chairman of Shinhan Financial Group, described the agreement as an extension of the companies’ existing relationship. “Through this agreement, we have expanded our long-standing partnership with Visa to the broader digital finance sector,” he said.
He added that Shinhan intends to “deliver differentiated financial experiences to our customers.”
Shinhan Extends Recent Solana Initiatives
The Visa agreement follows an April memorandum between Shinhan Card and the Solana Foundation. That partnership involved testing stablecoin payments using Solana’s layer-one blockchain.
Shinhan’s asset management division then partnered with the Solana Foundation, Etherfuse, and Orca in early August. That project will test a tokenized fund denominated in South Korean won.
In July, Shinhan joined OpenUSD alongside Samsung Electronics, Dunamu, and ten other Korean companies. The 140-company initiative aims to standardize a dollar-backed payment token supported by Visa and Mastercard.
Discussions leading to the latest Visa agreement began in April, when executives from both companies considered closer cooperation. Shinhan reported quarterly net income of 1.82 trillion won, equivalent to roughly $1.3 billion.
Korean Stablecoin Rules Continue Taking Shape
Shinhan is developing these payment capabilities before South Korea formally authorizes their commercial use. Lawmakers are advancing the Digital Asset Basic Act, covering stablecoins, exchange licensing, and crypto exchange-traded products.
In December, lawmakers and regulators proposed limiting won-backed stablecoin issuance in South Korea to consortia. Under that plan, commercial banks must hold ownership stakes of at least 51 percent.
The proposal responded to Bank of Korea concerns that non-bank issuers could weaken monetary policy and deposit protection. Its bank-led structure would place established lenders at the center of won-token issuance.
Rival KB Financial completed its own won stablecoin pilot on the Kaia blockchain in May. That trial reduced cross-border transfer times to approximately three minutes.
Shinhan’s agreement with Visa now adds another payment infrastructure test while the legislative framework remains under consideration.
The post Shinhan Visa Stablecoin Deal Expands Digital Payment Tests in South Korea first appeared on Coinfea.

Chinese AI startup Moonshot AI is reportedly in talks with U.S. cloud giants, Microsoft, Amazon, and Google, in a licensing arrangement that could include charging the companies as much as 30% of their revenue from reselling its open-weight Kimi K3 model.
Moonshot AI has already been in the news over a requirement that applies to any firm that sells the model as a service and earns more than $20 million a year. The AI firm is currently in early-stage negotiations with Microsoft, Amazon, and Google about revenue-sharing deals to host Kimi K3 on their cloud platforms, according to Reuters. Chinese AI startup Moonshot has announced that companies pulling in below $20 million in annual revenue can host Kimi K3 without owing Moonshot anything, but companies earning above that figure from reselling will shell out up to 30% of their revenue.
Moonshot AI reportedly in early-stage talks with US firms
AI researcher Rohan Paul recently raised concerns on X that Kimi K3’s terms are written to shield Moonshot’s own hosting business despite the fact that it ships with open weights. The terms dictate that large model-as-a-service providers need Moonshot’s permission before they can offer it, and very large applications built on the model are required to advertise Kimi K3. Private partner contracts can even add further commercial conditions.
Despite this, DigitalOcean’s chief executive Paddy Srinivasan confirmed that the company has reached a commercial arrangement with Moonshot. A regulatory filing last month revealed that Chinasoft International has entered a revenue-sharing agreement with Moonshot. However, the percentage remains undisclosed. Alibaba plans to require large commercial users of the open-weight version of its Qwen3.8-Max model to share revenue, although the rate is still under negotiation.
The company’s shares rose by 7% in Hong Kong after the Qwen3.8-Max announcement. The company’s shares faced a significant but unrelated decline on August 24, falling by up to 10% when it announced a large share placement to fund its AI development. Nvidia (NASDAQ: NVDA) also recently launched a revenue-sharing program that gives AI startups access to its hardware in exchange for a portion of the cloud revenue those partners generate. Sharon AI and Firmus Technologies are reportedly Nvidia’s first participants.
The post Moonshot AI, set for 30% revenue-sharing talks with US cloud giants first appeared on Coinfea.

Chinese lab Z.ai has been identified as the company behind Ox Alpha, the anonymous coding model. The model drew millions of developer queries on OpenRouter over the past week. The Chinese lab was credited with the creation of the coding model that has exploded in popularity over the past week, drawing millions of developers.
The model was released on OpenRouter on August 20, carrying no logo, no press release, and no company. The Ox Alpha listing boasted a massive context window of over a million tokens (1,048,576) that could handle text, images, and video, and spit out up to 131,072 tokens. Most models can only handle 8,000 to 200,000 tokens. Access to the model costs nothing. OpenCode, an open-source terminal agent, launched the model the same day and said it would stay free for a week, advertising provider capacity of 100 trillion tokens per day.
Z.ai released Ox Alpha on August 20
According to OpenRouter’s page, the mystery provider keeps prompts and completions but promises not to use them for training. Despite being completely anonymous for over a week, coding tools like Claude Code pushed billions of tokens of company code through it. Ox Alpha went viral when the first run a developer called Ben Davis completed put the model at 80% first-pass accuracy on a 10-task slice of the DeepSWE software-engineering benchmark, ahead of Claude Fable 5 at 65% and GPT-5.6-Sol at 52%.
Davis flagged the small sample himself. On a 10-task set, one task swings the score by 10 points. When he finished the full 113-task benchmark, Ox Alpha landed near 63%, roughly on the same level as GPT-5.6-Sol. However, no audited public leaderboard has posted a score. Stripe CEO Patrick Collison, whose company agreed on August 19 to acquire OpenRouter, tried the model and called it “very impressive” on X.
The first tool developers used to try to identify the source was tokenizer fingerprinting, which reads how a model splits text into the numeric units it processes. Researcher Joseph W. Elstner ran probe strings through Ox Alpha and, after adding the Z.ai new release GLM-5 vocabulary, matched all 95 of his probes with a mean error of zero. A separate developer, unclecode, built a fingerprinting tool called modelprint and found Ox Alpha lined up with GLM-5.3 on six of nine infrastructure probes.
A researcher named Chetaslua confirmed the model was running on Zhipu’s system after he sent a broken request to its server and received an error message that matches Zhipu AI’s official API documentation. A bad-role test also returned the same error that Z.ai’s GLM models produce. When the same weights were served by a different host, the error format changed, confirming the suspicion. Chetaslua rated the inference at 0.98 confidence. Z.ai, which was formerly Zhipu AI, also previewed its GLM-5 on OpenRouter anonymously, using the name Pony Alpha. GLM-5.3 shipped on August 14, six days before Ox Alpha appeared.
The post Z.ai credited as the maker of anonymous coding model Ox Alpha first appeared on Coinfea.

LayerZero has introduced ATLAS, a headless exchange backend, with trading fees supporting ZRO buybacks and burns.
The token climbed more than 16% to $1.26 within 24 hours. ATLAS will direct 75% of fees remaining after venue rebates toward buying and burning ZRO.
ATLAS Converts Trading Revenue Into ZRO Demand
ATLAS, short for Aggregated Trading, Liquidity, and Settlement, applies one all-in fee per trade, then rebates the venue generating the volume.
Under Open ATLAS, rebates range from 20% to 65%. The amount depends on a venue’s trading volume and the quantity of ZRO it stakes.
A quarter of the post-rebate fee goes to market creators, while the remaining three quarters fund ZRO purchases and burns. This structure connects exchange activity with recurring token demand and gives venues a reason to lock ZRO supply.
LayerZero said venues must stake up to 1% of the ZRO supply to receive the highest rebate.
Venues Access Shared Trading Infrastructure
ATLAS has no consumer application or proprietary front end. Brokers, exchanges, and financial institutions can integrate the system into products while retaining their users, branding, and interfaces.
The backend combines trade matching, clearing, settlement, and risk management. This removes the need for each venue to build those functions or obtain them from a competing exchange.
Today, we’re announcing an initial slate of partners for Open ATLAS: @GTE_XYZ, @Bullish, @definedfi, and @get_truenorth. pic.twitter.com/CzV1DNDdTj
— LayerZero (@LayerZero_Core) August 25, 2026
Participants are divided into three roles. Venues operate customer-facing applications, market creators determine which assets trade, and market makers supply liquidity.
Supported markets can include spot tokens, perpetuals, stocks, bonds, commodities, memes, and prediction markets. LayerZero is also developing offerings for public crypto markets, prediction platforms, and institutions using customized trading rules.
“We built ATLAS to be the neutral, performant backend to power them all,” LayerZero co-founder and CEO Bryan Pellegrino said.
Zero Builds After Major Bridge Exploit
ZRO also secures Zero through delegated proof-of-stake, pays network gas fees, and supports governance voting. Staking remains the only route to ATLAS’s higher rebate levels.
LayerZero introduced the finance-focused zero-knowledge chain in February with Citadel Securities, DTCC, ARK Invest, and Intercontinental Exchange. ARK CEO Cathie Wood joined its advisory board, while ARK and Citadel purchased ZRO.
ATLAS is the first product built on Zero, according to strategy lead Jack Melnick, who previously worked at Berachain.
Several projects moved cross-chain operations to Chainlink after an April attack drained 116,500 rsETH, then worth about $292 million, from Kelp DAO’s LayerZero-enabled bridge. Chainalysis linked the exploit to North Korea’s Lazarus Group. Kelp later migrated routing to Chainlink and strengthened verification.
LayerZero said its OFT standard has processed over $290 billion across more than 160 blockchains. ATLAS launches later this year. ZRO later traded at $1.23, up 12.7% daily and 58.3% weekly, with $206.1 million in volume.
The post LayerZero ATLAS Links Trading Fees to ZRO Buybacks and Burns first appeared on Coinfea.

Bitcoin sentiment reached extreme greed at 81, its highest reading since December 17, 2024. It returned after 616 days as Bitcoin gained more than 22% over seven days.
The index had stood at 36 one month earlier and 41 a week ago, both reflecting fear. CoinMarketCap called it the year’s fastest shift between sentiment extremes.
Sentiment Rebounds From February Capitulation
The gauge hit 5 on February 5, its 2026 low, signaling capitulation. Its climb to 81 within six months shows how rapidly market confidence recovered.
Alternative.me offered a cooler assessment. Its longer-running tracker remained in greed, with a reading about 6% below CoinMarketCap’s 81, although both measures showed the same overall upward direction.
The sentiment reversal followed a Bitcoin rally triggered by a United States Treasury announcement rather than an exchange-traded fund development. Treasury Secretary Scott Bessent doubled planned long-duration bond buybacks on Wednesday, raising the planned operations from $2 billion to at least $4 billion each.
Bessent told CNBC the following day that the eventual total could increase further. However, no funds had moved because the broader program runs from September 9 through November 4.
Treasury Signal Drives Bitcoin Rally
The announcement changed market expectations before affecting liquidity. Long-bond yields dropped within minutes after approaching a nearly two-decade high following weak demand for 30-year debt.
Bitcoin retained its advance as yields moved higher on Thursday. Roughly $3 billion in short positions were liquidated the next day, forcing purchases that accelerated the increase.
Bitcoin rose approximately 24% during the week, its strongest weekly gain since 2024, while outperforming the broader crypto market. CryptoQuant’s Bull Score climbed from 30 to 80, its highest since October 2025, as eight of ten indicators turned bullish.
CryptoQuant said the market had entered the early stages of a new bull market but stopped short of confirmation. It wants Bitcoin to close a week above its 365-day moving average near $83,000.
LMAX Group strategist Joel Kruger identified the May 2026 high of $82,820 as another threshold. A break above that level would confirm a cycle bottom for some observers and reopen the path toward $100,000.
Leverage and Whale Selling Raise Risks
Funding rates paid by leveraged long traders reached a 20-month high. Similar conditions preceded several sharper Bitcoin pullbacks during the previous two years, reflecting increased reliance on borrowed capital.
Short-term holder whales realized about $1.2 billion in profits between August 20 and August 22, CryptoQuant reported. That included a record $614 million on August 20.
Exchange inflows also reached roughly 53,000 BTC, their highest level since June. Traders’ unrealized profit margins rose to 20.5%, while Bitcoin previously dropped about 30% after the measure reached 19% in early May.
The post Bitcoin Extreme Greed Returns as Market Risks Rise first appeared on Coinfea.

Arthur Hayes says Scott Bessent is becoming Janet Yellen through Treasury liquidity. Arthur Hayes mentioned “Same Same But Different” with a night at Pacha. Scott, his “Buffalo Bill,” runs into Yellen. Yellen mocks him because his buyback increase calmed yields for only one session.
Arthur Hayes noted that Scott sounded different from Yellen, yet both reach for liquidity when Washington keeps spending, and Treasury yields push higher. Arthur wrote: “I saw that. Don’t let the haters get you down. The crypto community is with you. You had no choice; we love you. Keep it up! Don’t stop printing money because if the markets go down, there will be no free shit for all the rich people and everyone else in America who believes that if they believe hard enough in capitalism, they will get rich too. If there isn’t any free shit, then AOC is going to raise our taxes, oy vey.”
Arthur Hayes discusses the similarities
Arthur Hayes noted that starting in late 2023, Yellen sold more Treasury bills and fewer longer bonds. Bills mature within one year, so money-market funds treat them like cash. Those funds could use the Fed’s Reverse Repo Program (RRP), which pays rates near the federal funds rate. Treasury bills had to offer more yield because congressional funding fights can delay repayment. The RRP held about $2.5 trillion. More bill supply pushed yields enough to pull money-market cash out of the Fed. By January 20, 2025, when Scott took office, $100 billion remained.
Arthur Hayes counts the $2.4 trillion drop as liquidity released into markets. Bitcoin and the Nasdaq 100 rose, while the 10-year yield backed away from 5%. Arthur wrote: “If you don’t understand why Bitcoin and risk assets pumped even as the Fed held rates at the highest level since 2008 and simultaneously shrank its balance sheet, then you will miss the next bull market that just began. This is the reason academics coined the term Activist Treasury Issuance (ATI) to describe the sorcery Bad Gurl Yellen wielded.”
The 5% level matters because 10-year Treasuries feed into mortgages, corporate bonds and consumer credit. Arthur says both secretaries want financing costs below that point. The issue for Scott is federal debt issuance, and for Treasury, it is cheap funding. Bills can easily be marketed due to the desire of investors to get short-term, dollar-denominated instruments. Cryptocurrencies are linked with this trend via the USDT issued by Tether and the USDC by Circle Internet Group (NYSE: CRCL).
According to Arthur Hayes, the Federal Reserve can facilitate the demand through the reserves management program by making bank reserves as well as purchasing bills. He further states that the process is controlled by John Williams from the Federal Reserve of New York. Scott can sell off bills and then purchase back long-term securities using the proceeds. On August 19, Scott added $20 billion to planned long-end buybacks. Ten-year yields fell, and Bitcoin rallied for two days, but yields soon moved above their pre-announcement level.
Arthur Hayes says $20 billion is tiny against roughly $40 trillion of federal debt. Scott also backed wider FIMA use, letting foreign holders, including Japan, borrow Fed-created dollars against Treasuries instead of selling them.
“The best case for Bitcoin would be for Scott to announce a BOJ-style bond market manipulation where he informs the market he will conduct unlimited buy-backs of 10-year plus tenors if the yield is >5%. Initially, 10-year bonds would pump, and yields dump as the market showed Scott some fucking respect. But as with all uneconomical market manipulation schemes, the market will test Scott and see if he is ready to back up his words with a dollar bazooka,” Arthur Hayes said.
Arthur Hayes believes that small-scale buybacks will take place unless the stress level rises to become severe, and uses the MOVE Index level above 130 as one of the indicators. The Treasury could also empty its Treasury General Account of around $1 trillion for buying purposes. Arthur Hayes expects Bitcoin to keep rising but also sees violent pullbacks. He says non-full-time traders should avoid leverage and hold their crypto exposure while watching Scott’s liquidity moves.
The post Arthur Hayes says Bessent is repeating Yellen’s mistakes first appeared on Coinfea.

According to a report published by vaults.fyi on August 24, curated DeFi vaults hold $11.29 billion, and five managers control more than two-thirds of it. While Vaults.fyi and DeFiLlama published two reports that disagree on totals due to the fact that they count vaults and protocols differently, where they see eye-to-eye is that the market is greatly concentrated.
The vaults.fyi report, which is regarded as the widest survey of curated onchain markets so far, mapped $11.29 billion across 856 vaults, 131 curators, and 18 protocols, with data current as of August 20. Results of the survey show that 69.3% of the measured market runs through just five curators. Spreading deposits across several vaults does not spread the risk if one team runs all of them. A curator picks the markets, the collateral, the caps and the exposure limits. However, when five of them sit on top of two-thirds of the capital, the choices of a few people shape the risk that thousands of depositors carry.
Curated DeFi market climbs as Morpho leads industry
Over the past year, the curated portion of the market climbed to 12.51% of supply-side DeFi TVL, up from 5.24%. The survey found that it expanded by 39% even as the broader supply-side market contracted 41.8%. Nearly half of all curated capital, about 46.2% of it, runs through Morpho across Ethereum-based chains and Solana, according to the report. The remaining 53.8% is split among 17 other protocols. Morpho’s leading position comes from the system it helped build with Morpho Blue and MetaMorpho.
The setup splits the basic lending function from the risk management side and allows outside managers to create separate lending markets and package them into single vaults. This design is now attracting big traditional finance companies like Bitwise Asset Management, which has teamed up with Morpho to launch non-custodial vaults. The first product is aiming for a 6% yearly return. Bitwise also predicted that onchain vaults, which it calls “ETFs 2.0,” will double their assets under management in 2026.
The report also reveals that across the 25 largest Morpho stablecoin vaults, which hold $3.71 billion, bitcoin backs 54.1% of the lending. A depositor who thinks they hold a USDC position may, underneath, be lending against bitcoin, exposed to its liquidity, its oracle and the market’s ability to liquidate collateral in a crash. Concrete and Sentora, which were not ranked twelve months ago, are now part of the current top five, with Concrete sitting at fourth now and Sentora at second.
Usual dropped from fourth all the way to thirty-fourth. The report says the reshuffle is partly due to stress and points out that after problems tied to Stream and Resolv, weaker managers were washed out and money flowed to the teams that survived. A separate DefiLlama study, which references Sentora data collected in July, tells the same concentration story. Using 55 tracked curators and a $7.18 billion total, it lists the top three curators as Steakhouse Financial ($2.03 billion), Sentora ($1.97 billion) and Gauntlet ($1.46 billion). Together, they control 75.9% of TVL, while the top five control 80.9%.
The vaults.fyi report mentions that big players outside the crypto world are now getting into curated vaults. For instance, Apollo recently began working with Securitize, Midas teamed up with Fasanara, and JPMorganChase is launching tokenized money-market fund vaults. In May, the trading firm Wintermute also started its own curation platform called Armitage. Wintermute said it can accept types of collateral that other curators cannot, because it can handle liquidations on its own.
The post Morpho climbs high in the curated DeFi as five curators hold 69% first appeared on Coinfea.

US spot XRP ETF have recently seen a significant resurgence, with cumulative net inflows surpassing $1.55 billion—a new all-time high. Meanwhile, the price of XRP has rebounded sharply after a mid-August correction that saw it dip below $1.00, climbing as high as $1.70 and reigniting market interest.
Latest data shows that XRP spot ETF recorded net inflows of approximately $39.78 million last week, marking the best weekly performance since May. Notably, the single-day net inflow on August 21 reached $18.38 million, the highest level since May 14. This renewed capital flow indicates that institutional investor demand for XRP exposure is recovering.
As ETF inflows continue and XRP prices rebound, concerns about potential price drops have led more investors to consider a practical question: beyond simply waiting for price appreciation, are there more diversified ways to capture long-term returns from digital assets?
Against this backdrop, an increasing number of investors are turning to the EX DeFi cloud mining platform, seeking to explore additional revenue streams through cloud mining and yield aggregation mechanisms without having to sell their digital assets.
XRP ETF Inflows Finally See a Significant Rebound
Previously, XRP ETF inflows had been relatively sluggish; there were no inflows on seven of the first eleven trading days in August. However, capital began returning to the XRP spot ETF market on August 18, with a net inflow of $5.81 million recorded that day.
Inflows subsequently accelerated. On August 20, XRP spot ETFs saw a single-day net inflow of approximately $13.24 million, rising further to $18.38 million on August 21, bringing the total weekly net inflow to $39.78 million. With the continued entry of new capital, the cumulative net inflow for XRP spot ETFs since their launch has risen to approximately $1.56 billion.
This shift has largely coincided with the rebound in XRP’s price. After holding support near the $1.00 mark, XRP surged rapidly—rising by approximately 70% in just a few days to peak at $1.70—before pulling back to around $1.50 due to profit-taking. This trend highlights the return of ETF capital as a key factor in the recent XRP market.
What signals do the continued inflows into XRP ETFs send?
Recent capital flow data indicates a significant improvement in demand for XRP ETFs.
Last week, nearly $40 million in new capital flowed into spot XRP ETFs, marking the strongest weekly performance since May. Concurrently, XRP’s price, spot trading volume, and market participation have all rebounded, signaling renewed market interest in the asset.
For long-term investors, sustained ETF inflows signify that XRP is attracting a more diversified capital base. Should institutional demand for allocation continue to rise alongside further improvements in the regulatory environment, market interest in XRP could increase even further.
However, given the substantial short-term gains and the formation of a clear resistance zone between $1.65 and $1.70, the asset’s ability to break through this level remains a key point to watch.
EX DeFi Cloud Mining Platform: An Optimal Choice for Investors
Amidst XRP’s rapid price rebound and the resurgence of ETF inflows, some investors are reconsidering how to utilize their digital assets for the long term.
EX DeFi has launched a sustainable energy-based cloud mining service, offering users a way to participate without the need to purchase specialized mining hardware. Users can select computing power contracts tailored to their needs, while the platform handles management, daily operations, and earnings settlements.
Compared to traditional mining, cloud mining reduces the burden on users regarding hardware procurement, electricity consumption, equipment maintenance, and day-to-day operations. For users who hold XRP long-term and wish to explore additional avenues for generating returns from digital assets, this model offers a compelling alternative for participating in the digital asset ecosystem.
About EX DeFi
Headquartered in the UK, EX DeFi operates in compliance with European regulatory frameworks—such as MiCA and MiFID II—and is committed to continuously enhancing platform transparency, operational standards, and user protection mechanisms.
The platform employs a multi-layered security architecture, featuring:
Annual financial and security compliance audits by PwC;
Digital asset custody insurance from Lloyd’s of London;
Cloudflare enterprise-grade network protection and McAfee® security systems;
Multi-layer encryption, AI-driven risk management, and 2FA authentication.
EX DeFi currently supports a wide range of mainstream digital assets—including XRP, BTC, ETH, USDT, USDC, DOGE, LTC, and SOL—offering users flexible service options.
Affiliate Program
Users can earn referral rewards by inviting friends to join the platform, with potential rewards reaching up to $50,000.
Participate in cloud mining in just 4 steps:
1. Register an account
Sign up on the EX DeFi platform using your email address; new users receive a $17 trial bonus.
2. Deposit digital assets
Deposit XRP or other supported digital assets into your account (minimum deposit: $100).
3. Select a mining package
Choose a cloud mining plan that suits your budget and preferred contract duration.
4. Start earning returns
Once the contract is activated, the system automatically allocates computing power and settles earnings. Users can choose to withdraw their earnings or continue participating based on their needs.
Popular High-Yield Contract Plans
BTC (Beginner Trial Contract): Investment $100, Duration: 2 days, Daily Return: $4, Total Profit: $100 + $8
DOGE (Goldshell Mini-Doge Pro): Investment $500, Duration: 6 days, Daily Return: $6.5, Total Profit: $500 + $39
BTC (Canaan-Avalon-A1466): Investment $1,000, Duration: 10 days, Daily Return: $13.4, Total Profit: $1,000 + $134
LTC (Bitmain Antminer L7): Investment $5,000, Duration: 20 days, Daily Return: $73.5, Total Profit: $5,000 + $1,470
Click here to visit the official EX DeFi website and view contract details.
Summary
Cumulative net inflows into XRP spot ETFs have surpassed $1.56 billion. Notably, last week saw net inflows of $39.78 million—the best weekly performance since May—indicating renewed institutional interest in XRP.
As the price of XRP rebounds rapidly from around $1.00 to approximately $1.50, investors are looking beyond mere price appreciation and exploring diversified yield-generating models for digital assets, such as cloud mining. For investors bullish on XRP in the long term, generating stable passive income via the EX DeFi cloud mining platform represents a compelling opportunity worth serious consideration.
For more details, please visit: https://exdefi.com/
Official Email: info@exdefi.com
The post XRP spot ETF saw inflows exceeding $1.56 billion, with prices surging 70%. How can holders earn $5,500 per day? first appeared on Coinfea.

Term Labs is the latest lending protocol to be exploited. Vault governance rules meant an attacker was able to withdraw a total of $8.5M in ETH and DAI. Term Labs is the creator of Term Finance, a decentralized lending protocol for fixed-rate ETH loans. Term Labs aimed to offer more predictable lending rates and boasted expertise from a traditional quant team of former Citibank and Morgan Stanley experts.
The platform announced that the exploit affected some of its vaults, and the real impact is still estimated. Initial data show the attacker did not use a malicious exploit, but instead only used their governance influence, as intended by the protocol. As of August 23, Term Labs holds over $25M in total value locked. The protocol carries $3.92M in active loans and a higher amount of collateral in its vaults. In total, Term Finance vaults held $12.25M, meaning the recent exploit almost completely drained the protocol’s lending capabilities.
Term Labs exploit adds to list of high-profile exploits
The attack against Term Labs comes just days after other high-profile exploits, including Maya Protocol and a recent mint attack against The Sandbox. On-chain data shows the attacker wallets were funded with 2 ETH coming from Tornado Cash. This type of initial funding has been linked to previous exploits by DPRK hackers. The attacker simply controlled four of the five drained vaults on Term Labs by holding 100% of the governance token.
Term Labs offered lending vaults similar to Morpho, where anyone could deposit funds and receive passive income. However, Term Labs also used Aragon as its governance platform. Users could optionally wrap their vault deposit into governance tokens. To receive governance tokens, users had to manually take the share tokens received from the vault and turn them into a special governance token. The attacker gained an unfair governance advantage by performing the second step and was thus able to use the governance influence to drain the vaults.
The attacker held governance tokens that were only worth a few dollars, but was able to have an outsized influence and move all the reserves from the vaults. The attacker made his own proposal on August 17, with hidden actions that were not immediately visible to voters. After the six-day waiting period, the attacker was able to change vault parameters in a way that allowed the draining of funds from five USDC lending vaults. After moving the funds, the exploiter parked them in a single known wallet, holding $1.6M in DAI and around $6.9M in ETH.
The funds have not been mixed or moved yet, as with other exploits, where mixing followed the exploit even within the first hour. Multiple Web3 protocols built some type of governance mechanism, usually related to holding specific tokens. The presence of whales, team allocations, or aggressive buyers means reserves, DAO treasuries, or other vaults could be attacked and drained. DAOs and Web3 organizations have varying rates of proposals, and not all are understood by regular users. This means an interested party can propose an outcome in their favor and successfully vote for it.
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Xiaomi unveiled three in-house Xring chips on Monday, one of which will debut next month in the Xiaomi 18 Fold. The company is focusing on furthering its goal of designing its own silicon rather than buying it from Qualcomm and Media. Xiaomi has launched three in-house chips, with the main one being the 3nm Xring O3 phone processor made by TSMC (NYSE: TSM).
Xiaomi says the processor logged 5,228,014 points on AnTuTu, making it the first time a mobile system-on-chip has passed the five-million mark. The company claims Xring O3’s 10-core CPU offers a 60% performance boost over its earlier chip. The new 16-core GPU gives 85% better graphics performance, and power efficiency is up 64%. The O3 is also the world’s first mobile processor to support LPDDR6 memory, with speeds up to 113.8 GB/s. For AI tasks, the chip delivers 200 TOPS of tensor performance, and its neural engine is 45% faster than before. Notably, these benchmark scores are the company’s own claims.
Xiaomi set to roll out three Xring chips
The chip was developed in 459 days and will first ship in the Xiaomi 18 Fold and the Pad 9 Pro Max in China this September. The second chip is the Xring O100, a 6nm AI accelerator that uses a special design to stack the processor and memory together until it reaches 1.22 TB/s of bandwidth. This design helps cut delays when the chip handles AI tasks. Xiaomi wants this chip to run AI models inside phones, cars, and robots. It is set for commercial use in 2027.
The third chip, the Xring D100, is for self-driving cars. Xiaomi calls it China’s first high-compute smart-driving processor made with a 3nm process. It has a 20-core CPU and a 16-core NPU that supports up to 160GB of memory and can run large AI models with up to 200 billion parameters. Validation for this chip is complete, but the car version will not arrive until 2027. Xiaomi has not said how fast this chip is in TOPS or which car will get it first.
Currently, Xiaomi’s electric vehicles use chips from Nvidia (NASDAQ: NVDA). Xiaomi restarted its chip development program in 2021 and has since invested more than 21 billion yuan ($3.1 billion). The company now has a team of nearly 3,000 engineers working on chips. Devices using the earlier Xring O1 chip have passed one million in shipments. But only about 150,000 of those were phones sold since May 2025. The target for the new foldable phone is between 200,000 and 300,000 units.
Most of Xiaomi’s phones will still use chips from Qualcomm (NASDAQ: QCOM) and MediaTek (TWSE: 2454), but an in-house chip will give Xiaomi more leverage in talks with its suppliers. Huawei, on the other hand, was forced to make its own Kirin chips because U.S. sanctions cut it off from Qualcomm. Xiaomi faces no such restriction but is choosing to design silicon anyway. The company recently posted a 2.6 billion yuan operating loss on its newer businesses, including electric vehicles and AI, in the three months to June 2026. Nio, Li Auto, Xpeng and BYD are already running their own in-house driving silicon.
The post Xiaomi begins in-house chip production with Xring rollout first appeared on Coinfea.

Washington, D.C., August 24, 2026 — The Digital Sovereignty Alliance (DSA), a nonprofit organization dedicated to advancing clear and ethical public policy, research, and education surrounding emerging technologies, today announced the completion of its inaugural Digital Asset Case Study Course at St. Andrew’s Episcopal School.
Developed by DSA in collaboration with Professor Charles C.Y. Wang, Tandon Family Professor of Business Administration at Harvard Business School, and Giveback Backpack, the four-session program introduced high school students to real-world questions at the intersection of technology, markets, governance, and public policy.
The program concluded on Saturday, August 22, with a case study class on Axie Infinity and Sky Mavis co-founder Jeff Zirlin. Students examined the company’s business model and evolution while considering broader questions surrounding digital ownership, community-driven economies, leadership, and the challenges confronting businesses operating at the frontier of Web3.
Professor Wang, a leading scholar in accounting, digital assets, and capital markets, brought the case method into the high school classroom, giving students an opportunity to examine complex decisions through discussion, analysis, and debate. Rather than delivering traditional lectures, he challenged students to take positions, defend their reasoning, question one another’s assumptions, and work through the ambiguity inherent in real business decisions.
The four-session program explored digital assets, capital markets, trust, leadership, and the future of business in a Web3 world. Students examined cases involving Alibaba, Coinbase, and Wells Fargo, gaining exposure to different questions surrounding technology, finance, governance, leadership, and emerging business models.
Over the course of the program, students progressed from analyzing individual companies to considering broader questions about how technology can reshape markets, institutions, and business models. The case-based format gave students the opportunity to approach these questions not simply as observers, but as active participants in the discussion.
“Students learn best when they have the chance to apply ideas to the real world,” said Adrian Wall, Managing Director of DSA. “This program gave students the opportunity to move beyond learning about digital assets in the abstract. That is the lasting value of this program: equipping the next generation to engage critically and confidently with technologies that will increasingly influence business, public policy, and society.”
With the completion of the four-session program, DSA introduced students to a practical framework for thinking about some of the defining business and technology questions of the digital economy. The initiative is part of DSA’s broader educational mission to equip young people with the critical-thinking skills needed to understand emerging technologies and engage thoughtfully with the opportunities and challenges they present.
About Digital Sovereignty Alliance
The Digital Sovereignty Alliance (DSA) is a nonprofit social welfare organization committed to advocating for public policies that support ethical innovation in decentralized technologies, blockchain, cryptocurrency, Web3, and artificial intelligence. DSA conducts research, organizes educational events, and promotes policies that prioritize public welfare and digital sovereignty.
Media contact
Maghan Lusk
PR@dsaf.org
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Meta Superintelligence Labs has hired Luke Metz, an early ChatGPT researcher at OpenAI, as competition for artificial intelligence specialists intensifies.
Reports placed Metz under Alexandr Wang, Scale AI’s former leader and Meta’s AI chief.
Rapid moves connect three leading laboratories
Metz describes himself as a researcher from the original OpenAI team behind the low-key research preview that became ChatGPT. He previously worked at Google Brain.
Axios reported Metz left OpenAI in 2024 to join Thinking Machines Lab, founded by former OpenAI technology chief Mira Murati.
His tenure there was brief. Fortune reported in January 2026 that Metz would return to OpenAI with co-founder Barret Zoph and founding member Sam Schoenholz. Simo said Zoph would report to her, while Metz and Schoenholz would report to Zoph.
Metz is now moving again after several former Thinking Machines colleagues joined Meta.
Meta commits billions to recruitment
Meta invested $14.3 billion for a 49 percent stake in Scale AI and selected Wang to lead Meta Superintelligence Labs. Five members of Murati’s founding team joined Meta, while three returned to OpenAI and another moved to Elon Musk’s xAI.
Reported compensation has also reached exceptional levels. Thinking Machines co-founder Andrew Tulloch reportedly accepted a $1.5 billion package covering six years at Meta. The Next Web said the figure, if accurate, would make him technology’s most expensive individual hire.
OpenAI chief Sam Altman said Meta offered $100 million bonuses to its employees. Meta reported second-quarter 2026 revenue of $60.8 billion, representing 28% annual growth, according to its investor filing.
Hiring surge fails to expand workforce
Recruiter Sam Jones analyzed LinkedIn Talent Insights data through August 2026 and found Meta hired 778 research scientists during the year. However, 785 researchers departed, producing a net decline of seven.
Jones measured Meta’s attrition rate at 19 percent, the highest among four frontier laboratories examined. Meta also had 1,838 open research positions when the research was conducted.
Jones described the imbalance by saying, “Meta ran the most expensive treadmill in the industry — 778 on, 785 off — proving that in this market, hiring is the easy half.”
Researchers left Meta for Microsoft AI, Nvidia and OpenAI while Meta recruited talent from Amazon, Scale AI and universities. OpenAI hired Ruoming Pang, who had overseen AI infrastructure for Meta Superintelligence Labs, according to a February report from The Information cited by Reuters.
That move came seven months after Meta recruited Pang from Apple with compensation Bloomberg valued above $200 million.
Meta released Muse Spark on April 8 as the first model from its recently established laboratory. The model supports Meta AI across Facebook, Instagram, WhatsApp, and Ray-Ban eyewear. Meta’s research workforce remains near its earlier size.
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Binance Blockchain Week 2026 returns to Asia, landing in Bangkok at the Queen Sirikit National Convention Center on November 28 and 29.
Co-CEOs Richard Teng and Yi He headline a roster that also includes Eowyn Chen, Catherine Chen, and APAC head SB Seker.
Thailand’s growing receptiveness is a contributing factor for its choice as host, with digital assets added under the Derivatives Act and capital gains tax waived on licensed platform trades until the end of 2029.
Binance has announced that its flagship event, Binance Blockchain Week 2026, is coming back to Asia, with all roads leading to Bankgok, Thailand.
The organizers say that the event will be held between November 28 and 29 at the Queen Sirikit National Convention Center.
Last year, the event was held in Dubai, United Arab Emirates, between December 4 and 5 and saw the debates between CZ and Bitcoin skeptic Peter Schiff go viral.
Binance co-CEO Richard Teng, Brad Garlinghouse, the CEO of Ripple, and Michael Saylor of Strategy were among the speakers at the event, with Saylor making a case for Bitcoin in his speech.
There were also conversations that touched on institutional adoption, the place of regulation and AI and crypto, which have been a recurring theme in 2026.
Binance Blockchain Week has been held across various cities across Europe and Asia, with Istanbul, Paris, and Singapore hosting the event in the past.
What is Binance doing in Bangkok, and who will be there?
According to Binance, the event is the pinnacle of more than 1,500 events the company has run worldwide. The organizers are expecting thousands of builders, institutional investors, fintech leaders, and policymakers over the two days.
The speakers confirmed so far include Teng, his co-CEO, Yi He, along with Eowyn Chen, Binance interim chief marketing officer.
Other speakers on the roster are SB Seker, head of APAC, Binance; Catherine Chen, head of Binance VIP and Institutional; and Thomas Gregory, the company’s vice president of payments and fiat. Early bird tickets are on sale for $19.
Why Thailand, and why this moment?
Thailand put some laws in place to distinguish digital assets and put some restrictions in place; however, it is getting more receptive to digital assets based on recent developments. In February, the country’s cabinet approved a Finance Ministry proposal to expand the assets permitted under the Derivatives Act to include digital assets.
Thailand’s Securities and Exchange Commission (SEC) said that change would strengthen recognition of crypto as an investment class.
Some analysts believe that the reform could eventually allow futures, options, and other structured contracts tied to digital assets. Separate ETF rules tied to that framework are expected to take effect in the third quarter of the year.
Blockchain analytics platform Elliptic described Thailand’s 2026 to 2028 strategic plan as placing digital assets at the center of its capital market strategy. This is eight years after the country’s original licensing decree created a supervised environment for exchanges and custodians.
The Finance Ministry has also waived capital gains tax on digital assets traded through licensed platforms until the end of 2029.
In the announcement, SB Seker said, “The most interesting thing happening in Asia isn’t just the scale of adoption, it’s that we’re seeing workable models for how crypto operates under clear regulation.”
Seker added, “Different jurisdictions are moving at different speeds, testing different approaches, and BBW Bangkok 2026 provides a venue to examine what supports consumer protection, market integrity, and infrastructure that works at scale.”
What does the EVOLVE theme reveal about where Binance is taking the business?
The event’s agenda points to Bitcoin’s institutional footprint, stablecoins as payment rails, tokenized stocks, AI integration, and cross-border payments, among others, themes that track products Binance has already shipped this year. This also includes gold and silver options that were recently launched in July through its Abu Dhabi-regulated Nest Exchange.
Exchanges reportedly processed $1.32 trillion in perpetual futures tied to traditional assets in the first five months of 2026, up from $104.21 billion for all of 2025, and Binance holds the largest share of that volume at 35.9%, according to CoinGecko data.
“This event will showcase how Binance is evolving from a trading platform into a financial superapp connecting both worlds,” Teng said.
Yi He added that the company’s next wave of adoption, which it calls Road to 3 Billion, depends on products that deliver utility in daily life, whether in cross-border payments, tokenized securities or digital portfolios.
She added, “At BBW Bangkok 2026, we’ll examine the trends driving adoption and explore what the industry needs to do to make digital assets more accessible, trusted, and relevant to a broader audience—while delivering the sophistication institutional players demand.”
The post Binance Blockchain Week heads to Bangkok as exchange advances financial superapp pitch first appeared on Coinfea.

Phantom Sui support will end on September 24, allowing users several weeks to convert SUI or access holdings elsewhere.
The decision removes a major gateway to Sui, which Phantom added on January 29, 2025. The Sui Foundation said Phantom then served 15 million monthly active users.
Sui activity has weakened since that launch. DefiLlama data places total value locked at $470.38 million, down from more than $2 billion.
SUI trades near $0.83, giving the token a market capitalization of about $3.4 billion. That price remains well below its January 2025 record of $5.36.
Users Can Convert SUI or Change Wallets
Phantom outlined two migration routes on its help page. Users can convert SUI into wrapped SUI on Solana before support ends.
Phantom will waive its fee for that cross-chain conversion until September 24. Network and exchange charges still apply during transactions.
The wallet will also add no fees for swaps into SOL, ETH, or USDC. Users wanting to retain SUI can instead import their recovery phrase into a compatible wallet.
Phantom recommends Slush, the Sui Foundation’s preferred wallet. The same address and balances should appear automatically after users enter their phrase.
Assets remain recorded on the Sui blockchain rather than inside Phantom. Consequently, holders can recover them later using the same “login,” without a deadline.
Phantom warned that it never initiates contact or requests seed phrases. Any unsolicited migration assistance should therefore be treated as fraudulent.
Sui Partnership Ends During Wider Chain Reductions
The 2025 integration made Sui Phantom’s fourth supported Layer 1, alongside Solana, Bitcoin, and Ethereum. Phantom also supported Coinbase’s Layer 2 network Base.
The Sui Foundation called Sui “the only Move-based chain and the third Layer 1 fully supported on the platform.”
Phantom chief executive Brandon Millman said Sui’s “focus on scalability and its superior user experience aligns perfectly with Phantom’s goal of making crypto accessible for everyone.”
However, SUI dropped more than 4% when integration launched. Cryptopolitan reported that the token had already fallen over 20% during the preceding ten sessions.
Both organizations now describe the separation as mutual. Phantom’s X post said they may “explore other collaborations in the future.”
The wallet is also ending Monad support on August 26. Its help page provides identical migration instructions for users.
That parallel withdrawal indicates a wider reduction in Phantom’s multichain lineup rather than a decision affecting Sui alone.
A March 2026 Bank for International Settlements working paper said permissionless blockchains continue fragmenting markets. New low-fee networks can draw users from established chains and weaken network effects.
Losing Phantom reduces Sui’s retail access while on-chain activity remains lower. Circle still lists Sui among networks supported through its stablecoin infrastructure.
Sui’s DeFi TVL has fallen from roughly $2 billion earlier in 2026 to below $1 billion by July, according to DeFiLlama data cited in market reports. Phantom said it will end Sui network support on September 24.
Metric Peak / earlier 2026 Latest reported Sui DeFi TVL ~$2B <$1B Change — At least ~50% below $2B Phantom support Active Ends Sept. 24, 2026 SUI ETF — U.S. spot SUI products already trading
The current evidence establishes the two developments, but doesn’t establish causation.
Phantom and Sui have decided to end Sui support on Phantom on September 24, and leave open the opportunity to explore other collaborations in the future. Your funds remain safe and fully under your control. Before 9/24, you can move your wallet to another app that supports Sui,…
— Phantom (@phantom) August 24, 2026
The post Phantom Sui Support Ends September 24 as Network Activity Weakens first appeared on Coinfea.

Term Labs confirmed that a governance attack drained approximately $8.5 million from several lending vaults operated through Term Finance.
The attacker secured decisive governance influence with tokens worth only a few dollars. Vault users had not converted their shares.
Term Finance provides decentralized, fixed-rate loans backed by ETH. Its developer cited predictable lending costs and experience from former Citibank and Morgan Stanley quantitative professionals.
The company said that several vaults were affected, although the total impact remained under assessment. Early evidence indicated the attacker followed governance rules rather than exploiting malicious code.
Governance structure enabled control
Term Finance offered lending vaults resembling Morpho’s. Depositors could supply funds, earn passive income, and receive share tokens representing their positions.
We are aware of a governance exploit impacting Term vaults. We will share more details once it has been further investigated.
— Term Labs (@term_labs) August 23, 2026
The protocol used Aragon governance and let depositors wrap vault shares into separate governance tokens. Users had to complete this conversion manually, and many never did.
The attacker completed the conversion and obtained 100 percent of governance power across four of the five affected vaults. Despite holding governance tokens valued at only several dollars, the individual gained authority over reserves worth millions.
A proposal submitted on August 17 contained actions that voters could not immediately see. Following a six-day waiting period, the attacker changed vault parameters and drained five USDC lending vaults.
Stolen ETH and DAI remain visible
Blockchain data showed that the attacking wallets initially received 2 ETH through Tornado Cash. Similar funding methods have previously appeared in exploits attributed to DPRK-linked hackers.
After withdrawing the assets, the exploiter consolidated them within one identified wallet. That address held approximately $1.6 million in DAI and around $6.9 million in ETH.
The stolen assets had not been mixed or transferred further. That behavior differed from other incidents where attackers began obscuring funds within an hour.
Term Finance held more than $25 million in total value locked on August 23. It also reported $3.92 million in active loans, supported by larger collateral balances across its vaults.
The lending vaults collectively contained $12.25 million before the incident. Consequently, the $8.5 million loss removed most of the protocol’s available lending capacity.
Low participation increases governance risk
The Term Labs incident followed recent attacks involving Maya Protocol and The Sandbox, where a separate mint exploit occurred. Governance attacks became more visible during 2026 as limited user participation weakened oversight across several Web3 protocols.
Many decentralized organizations connect voting authority to specific token holdings. Whales, team allocations, or aggressive purchasers can therefore acquire enough influence to target reserves, treasuries, and protocol vaults.
Proposal activity and voter understanding also vary among decentralized organizations. When users remain inactive or overlook proposals, one participant can advance favorable changes and approve them through concentrated voting power.
The post Term Labs Governance Exploit Drains $8.5 Million first appeared on Coinfea.