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In AI news today, Bullish will provide USD.AI with a $100M stablecoin debt facility to fund non-recourse loans backed by GPUs and other AI computing infrastructure, according to a social media post from USD.AI.
The arrangement connects crypto liquidity with physical data-center hardware and expands Bullish’s role into AI infrastructure financing.
Compute is becoming a credit market.@Bullish's $100M facility will allow USDAI to finance the AI buildout while creating deeper, more transparent markets for compute-backed credit. pic.twitter.com/X005YbkQpt
— USD.AI (@USDai_Official) August 28, 2026
USD.AI, developed by Permian Labs, is a stablecoin protocol designed to connect decentralized finance with financing for computing infrastructure, according to Traders Union. More than $225M in crypto assets was locked in the protocol at the time of publication.
The facility is intended to direct additional on-chain capital to companies that need GPU capacity to train and run AI models. The deal links private credit for AI infrastructure with the use of crypto liquidity to finance real-world assets.
Crypto Expert Report: What is the Best Meme Coin to Buy and Forget Until the Next Bullrun?
AI News: How Bullish’s GPU-Backed Facility Works
Under the arrangement, Bullish’s debt financing allows USD.AI to issue loans secured by GPUs, which a Traders Union report \describes as among the most capital-intensive components of the data-center infrastructure required for AI development.
The structure allows on-chain capital raised through USD.AI to flow to operators of AI computing capacity, with the hardware serving as collateral rather than the borrower’s broader corporate balance sheet.
The mechanism links on-chain liquidity with assets outside the blockchain. Traders Union reported that USD.AI’s model allows capital from the crypto sector to finance physical equipment, with GPUs serving as collateral for loans.
Permian Labs CEO David Choi said computing capacity is gradually becoming a credit market in its own right, and that the Bullish financing would allow USD.AI to expand lending for AI infrastructure and develop the market for debt instruments backed by computing equipment.
The facility addresses financing needs associated with data-center construction and specialized processor purchases, both of which require substantial investment.
Those capital requirements create opportunities for private credit alongside traditional bank financing, while USD.AI is positioning stablecoin deposits as a source of capital for computing infrastructure.
What the Deal Means for Crypto and AI Infrastructure
SOURCE: Yahoo Finance
In other AI news, beyond the lending facility, Bullish plans to list USD.AI’s yield-bearing sUSDai token across several trading pairs, a move intended to create secondary-market liquidity for investors seeking exposure to GPU-backed debt instruments.
For Bullish, the agreement expands its presence beyond conventional cryptocurrency trading into infrastructure financing, using crypto-market liquidity as a funding source for loans against physical equipment.
The timing follows Bullish’s move toward traditional capital markets. The exchange, which was spun out of Block.one and backed by investors including Peter Thiel and Nomura, filed for an initial public offering on the New York Stock Exchange under the ticker BLSH in July 2025.
At that time, cumulative trading volume on the platform since launch had reached $1.25 trillion, while average daily volume in the first quarter of 2025 stood at $2.5Bn.
The agreement brings stablecoin-based financing to the market for AI computing infrastructure, with USD.AI using GPU hardware as collateral and Bullish planning to provide trading support for sUSDai. It also reflects Bullish’s stated expansion beyond traditional cryptocurrency trading.
Crypto Expert Report: What Are the 10 Next Crypto to Explode in 2026?
This article is for informational purposes only and does not constitute investment advice.
The post Bullish Expands Into AI Infrastructure Lending With USD.AI Deal appeared first on Tokenist.

In Trump UAE news, an entity backed by Sheikh Tahnoon bin Zayed Al Nahyan and co-investors holds a reported 49% stake in WLTC Holdings, the holding company World Liberty Financial created for its proposed U.S. trust-bank venture, according to The Wall Street Journal, citing people familiar with the matter.
The reported stake extends the business relationship between the Trump-backed cryptocurrency company and Tahnoon, who serves as the United Arab Emirates’ national security adviser and is the brother of the country’s president.
The Journal previously reported that Tahnoon backed a $500M investment in World Liberty Financial in exchange for a separate 49% stake in the company. That earlier investment is distinct from the reported WLTC Holdings stake.
The “spy sheikh” is now a major backer of the Trump family’s new crypto bank. Sheikh Tahnoon bin Zayed, UAE national security adviser and brother of the country’s president, sits behind a 49% stake in the holding company for World Liberty’s planned U.S. bank. A Trump-family… pic.twitter.com/wV4laIAK6f
— Mario Nawfal (@MarioNawfal) August 28, 2026
How the Proposed Trump UAE Trust Bank Would Handle USD1
The Office of the Comptroller of the Currency granted World Liberty Trust Company preliminary conditional approval in August 2026 to launch a federally chartered national trust bank.
If it receives final approval, the bank would issue, redeem, and safeguard USD1, World Liberty Financial’s dollar-backed stablecoin, under federal supervision.
The preliminary approval is not final. World Liberty Trust Company can begin operations only after meeting the regulator’s pre-opening requirements and receiving final approval. Until then, the proposed bank cannot operate as the vehicle for issuing, redeeming, or safeguarding USD1.
Ownership Structure for the Trump Bank Initiative
@realDonaldTrump's planned #crypto bank is nearly half-owned by UAE investors. StringZ Holding RSC — linked to Sheikh Tahnoon bin Zayed al Nahyan, the UAE's national security advisor and brother of its president — holds a 49% stake in WLTC Holdings. An entity affiliated with… pic.twitter.com/YQwAABfGF6
— Mpost Media Group (@mpost_io) August 28, 2026
Supplementary reporting identified StringZ Holding RSC as an investor in WLTC Holdings and said the OCC’s decision names StringZ as one of the holding company’s investors. The OCC did not disclose who stands behind StringZ or the size of its stake, according to that reporting.
The same reporting said StringZ committed not to influence the bank’s operations. Separately, the Journal reported that Tahnoon and co-investors are behind an entity holding the largest stake, 49%, in WLTC Holdings, while the charter remains subject to the OCC’s remaining conditions.
Crypto Expert Report: What is the Best Meme Coin to Buy and Forget Until the Next Bullrun?
What Final Approval Would Mean for USD1
SOURCE: CoinGecko
Final approval would allow World Liberty Trust Company to carry out the issuance, redemption, and safeguarding functions described in its conditional approval for USD1. The bank’s launch remains dependent on completion of the OCC’s pre-opening requirements and final regulatory approval.
For now, the reported ownership stake and the conditional approval define the structure around the proposed bank, while its operations have yet to begin.
USD1 is the 24th-largest digital asset, with a market cap of over $4.1Bn and a 24-hour trading volume of $1.1Bn. It has grown by over $1.5Bn since the beginning of 2026, driven by rising token issuance due to demand.
Crypto Expert Report: What Are the 10 Next Crypto to Explode in 2026?
This article is for informational purposes only and does not constitute investment advice.
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In Coinbase crypto news today, the leading digital asset exchange and Better Mortgage have launched the first token-backed conforming mortgage product nationwide, according to reporting published August 27, 2026.
A June waitlist for the product represented more than $260M in projected loan volume, with 60% of respondents expecting to buy a home within six months-an early indication of interest from crypto holders seeking to use digital assets in home financing.
Rather than requiring borrowers to sell crypto to help fund a down payment, the product allows them to pledge Bitcoin as collateral for a separate loan. That structure lets borrowers retain exposure to their Bitcoin while using the arrangement to support a home purchase.
Crypto-backed mortgages have moved in. Borrowers in the US can now use Bitcoin as collateral for a down payment – without having to sell it or face margin calls. Plus, Coinbase One members can get up to $10,000 back at closing. pic.twitter.com/wMroUwVahX
— Coinbase (@coinbase) August 26, 2026
Coinbase Crypto News: Why Cash-Poor, Crypto-Rich Buyers Are the Target
Better Mortgage estimates that 41% of its pre-approved customers meet income and credit requirements but lack enough cash for a conventional down payment. The product is designed for borrowers who qualify for a mortgage but hold wealth in digital assets rather than traditional savings accounts.
The approach may particularly appeal to younger buyers whose net worth is concentrated in Bitcoin or other digital assets rather than in traditional brokerage or bank balances. By pledging Bitcoin rather than selling it, borrowers may avoid realizing taxable gains and retain the potential for future appreciation.
SOURCE: Yahoo Finance How the Coinbase-Backed Mortgage Works
The structure consists of two loans. Better Mortgage originates and services both, while Coinbase provides the digital-asset infrastructure behind the collateral. The first lien is structured to meet Fannie Mae guidelines and functions as a standard conforming mortgage.
The second loan funds the cash down payment and is secured by pledged Bitcoin and a second lien on the home. At launch, Bitcoin is the accepted collateral asset; Better Mortgage says other assets may be added in the future.
Pledged Bitcoin remains in Better Mortgage’s custodial account on the Coinbase platform as collateral for the down-payment loan. Better Mortgage lists 15-year and 30-year fixed mortgage options and says eligible Coinbase One members can receive up to $10,000 in closing-cost lender credits.
Crypto Expert Report: What is the Best Meme Coin to Buy and Forget Until the Next Bullrun?
Coinbase Crypto News: The Crypto Collateral Adds a Second Layer of Housing Risk
The crypto-secured obligation is separate from the conforming first mortgage and carries its own second lien on the property. Borrowers therefore take on both the standard obligations of a mortgage and the terms of a separate down-payment loan backed by Bitcoin.
Better Mortgage says Bitcoin price volatility does not affect the mortgage or the separate down-payment loan, and that borrowers are not required to add collateral if Bitcoin’s value falls.
The company also says market movements do not trigger liquidation. Payment delinquency, however, can have consequences: delinquency begins the day after a missed payment; borrowers have 30 days to bring the account current,
Additionally, Better Mortgage may liquidate pledged Bitcoin after 60 days of continued delinquency. Foreclosure proceedings on the home begin separately at day 180 of delinquency, in line with Fannie Mae guidelines.
JUST IN: Coinbase and Better Mortgage launch crypto-backed mortgages, allowing U.S. borrowers to use #Bitcoin as collateral for a home down payment without selling their assets or facing margin calls. The loans allow users to secure a property without selling their $BTC. pic.twitter.com/milclGnB7L
— Bitcoin.com News (@BitcoinNews) August 26, 2026
A Broader Use Case for Crypto Wealth
In other Coinbase crypto news, the mortgage launch expands crypto’s use beyond trading by bringing digital assets into mortgage underwriting. It also supports the company’s broader effort to connect crypto wealth with real-world spending and borrowing needs
The waitlist data suggests the offering is reaching an existing customer base: 76% of June respondents were already Coinbase One members.
For Better Mortgage, the partnership could help attract customers and distinguish its platform in a difficult housing market. Coinbase shares had lost 14.9% year-to-date at the time of the launch’s reporting, according to Zacks.
Crypto Expert Report: What Are the 10 Next Crypto to Explode in 2026?
This article is for informational purposes only and does not constitute financial, legal, or investment advice regarding Bitcoin, Coinbase stock, or any mortgage product discussed.
The post Coinbase Crypto News: Bitcoin Collateral Opens a New Route for Mortgages appeared first on Tokenist.

Nvidia is at the center of conflicting reports about a possible acquisition of Hugging Face, the AI platform where developers and researchers share, find, test, and deploy models and datasets. Business Insider reported on August 26 that Nvidia and Hugging Face had held acquisition discussions in recent weeks, with a deal valuing Hugging Face at more than $13 billion.
Citing a person familiar with the matter, the report said no deal had been reached, and the talks could still fall apart. A separate account attributed to The Information reported that Nvidia had agreed to buy Hugging Face for $12.9Bn, though neither company has confirmed a transaction.
Nvidia has reportedly agreed to buy Hugging Face, the popular open-source AI hub, for $12.9 billion in a move that would let Nvidia both protect its chip empire and jump back into the cloud business.https://t.co/v9gaZr4Kdd
— TechCrunch (@TechCrunch) August 27, 2026
The reports describe materially different situations: ongoing discussions in one account and an agreed deal in the other. TechCrunch reported on August 24 that it was unclear which company or companies had approached Hugging Face with offers valuing it at $13Bn or more.
The startup was reportedly in talks with banks to help evaluate bids. Until Nvidia or Hugging Face confirms the status of any transaction, the reported prices and the state of the talks remain unconfirmed.
Nvidia Hugging Face Deal Reports: Why the $12.9Bn and $13Bn-Plus Figures Differ
The difference between the reported values is less important than the difference in how the accounts characterize the situation. Business Insider described Hugging Face as fielding takeover interest while holding acquisition conversations with Nvidia. The Information reported that Nvidia had agreed to buy Hugging Face. Neither company has confirmed either account.
Key terms of any possible transaction have not been disclosed in the reporting provided. The reported accounts do not establish what a deal would include beyond their differing valuations and descriptions of its status. That leaves the $12.9Bn and more-than-$13-Bnfigures as reported values rather than confirmed terms.
Nvidia and Hugging Face already have a relationship. Business Insider reported that Nvidia participated in Hugging Face’s $235M funding round in 2023, valuing the startup at $ 4.5Bn.
Hugging Face also turned down a $500M investment offer from Nvidia earlier this year that would have valued it at $7Bn, according to reporting by the Financial Times. The company said at the time that it did not want a single dominant investor to sway decisions. A reported valuation above $13Bn would be substantially higher than that earlier $7Bn valuation.
Crypto Expert Report: What Are the 10 Next Crypto to Explode in 2026?
Why Hugging Face Matters in Open-Source AI
Hugging Face operates a platform used by developers and researchers to share, find, test, and deploy AI models and datasets. Business Insider described the company as being at the center of the open-source AI ecosystem, hosting millions of models and datasets that developers can build on. The platform’s role gives it a connection to developers working with open-source AI tools.
Hugging Face CEO Clem Delangue said on a TechCrunch Equity podcast episode that the company was close to profitability and had only recently begun using money raised three years earlier. He characterized the company’s focus as long-term sustainability rather than short-term profits or fundraising maximization.
Delangue also discussed Hugging Face’s responsibility to the community that shares data and models through the platform. Those comments underscore the importance of the community and platform mission in any discussion of a potential sale.
The reported interest arrives amid broader attention on companies providing AI infrastructure services. TechCrunch cited Stripe’s reported $7 billion acquisition of AI gateway startup OpenRouter as an example.
Business Insider also noted that Hugging Face supports models and hardware from across the industry, including Nvidia competitors AMD and Intel. That breadth of support is part of the platform’s neutrality and would be relevant to how users view any change in ownership.
What the Reports Mean for Nvidia Investors
SOURCE: Yahoo Finance
The reported values suggest significant potential for an acquisition, but no deal has been confirmed. Business Insider noted that Nvidia has $18Bn for equity investments this fiscal year and $47.9Bn in private companies, providing context but not confirming an agreement with Hugging Face.
There are conflicting reports: one claims talks are ongoing and could fail, while another states an agreement has been reached. Hugging Face previously declined Nvidia’s investment offer, citing concerns about a dominant investor’s influence.
Investors should view the figures of $12.9Bn and $13Bn as unconfirmed. Clarity will come with confirmation from Nvidia or Hugging Face, or further reporting to address the discrepancies. Until then, the Nvidia Hugging Face potential acquisition remains uncertain.
Crypto Expert Report: What is the Best Meme Coin to Buy and Forget Until the Next Bullrun?
The post Conflicting Reports Leave the Nvidia Hugging Face Plans Unclear appeared first on Tokenist.

StarkWare says a Bitcoin transaction built with its Quantum-Safe Bitcoin, or QSB, method has been mined on mainnet. The company describes it as the first mainnet transaction of its kind.
It is designed to withstand an adversary using a working quantum computer. The demonstration required no change to Bitcoin’s consensus rules, according to StarkWare’s announcement.
StarkWare Researcher Executes First Quantum-Safe Bitcoin Transaction on Mainnet StarkWare researcher Avihu Levy’s Quantum-Safe Bitcoin (QSB) scheme has completed its first confirmed transaction on the Bitcoin mainnet, demonstrating a way to protect transactions from… pic.twitter.com/ZiCoQdMuhD
— Wu Blockchain (@WuBlockchain) August 27, 2026
QSB offers Bitcoin holders a way to move coins into storage protected by a hash-based construction rather than relying solely on elliptic-curve cryptography.
The method is not a conventional Bitcoin transfer: it requires substantial offchain computation and a direct route to a miner willing to accept a nonstandard transaction.
How QSB Protects a Bitcoin Quantum Spend Without a Consensus Change
Bitcoin signatures use elliptic-curve cryptography, which could be compromised by Shor’s algorithm on a powerful quantum computer, allowing an attacker to extract a private key from its public key.
Most Bitcoin addresses are hashes of public keys, keeping the public keys hidden until the addresses are spent. When a transaction is created, the public key is revealed, creating a window of opportunity for a quantum adversary to steal coins.
StarkWare’s QSB addresses this risk by adding a second layer of protection using hash functions, as Shor’s algorithm cannot break these.
The method involves signature grinding, allowing the sender to find a transaction hash that is also a valid Bitcoin signature before broadcasting. This shift means the output depends on hash difficulty rather than private key secrecy.
While QSB enhances security by moving coins to a hash-based output, it doesn’t make Bitcoin entirely quantum-safe. It can’t protect addresses where the public key has already been published, as an adversary could derive the private key before the transaction is sent.
Crypto Expert Report: What is the Best Meme Coin to Buy and Forget Until the Next Bullrun?
Why the Method Requires Computation and Miner Cooperation
StarkWare says the approach currently costs several hundred dollars in computation. Supplementary reporting by Cointelegraph said StarkWare described the process as taking hours of computation and estimated a completed-transaction cost of roughly $150 to $200.
QSB transactions also use nonstandard formats, meaning they do not travel through Bitcoin’s ordinary mempool under default relay policies. Instead, they need a direct submission path to a miner. StarkWare said MARA Slipstream provided that path for the demonstration.
The direct-miner requirement is a practical limitation. A holder seeking to move coins into the QSB construction must arrange for a miner to receive and include a nonstandard transaction rather than simply broadcast it through the standard peer-to-peer network. The method therefore remains distinct from an ordinary Bitcoin payment, which can be propagated through the usual mempool.
What the Mainnet Demonstration Changes
THis is definitely a move in the right direction. HOWEVER, QSB acts as an opt-in "parachute" for moving coins to quantum-resistant storage at a cost of ~$75-150 per transaction; it is NOT a network-wide fix and leaves most Bitcoin, including Taproot and Lightning, still… https://t.co/afgD2lbVCZ
— Digital Asset News (@NewsAsset) August 27, 2026
The demonstration establishes that a quantum-resistant spending construction can operate within Bitcoin’s existing rules without waiting for a protocol change. StarkWare nevertheless maintains that a soft fork is the better long-term approach to delivering broader quantum resistance across Bitcoin.
The method’s limitation is central to its use. QSB can protect coins before the relevant public key is exposed, but it cannot help an address whose public key was already visible before the transaction. In that situation, a future quantum adversary could already have access to the information needed to attempt private-key recovery.
StarkWare CEO Eli Ben-Sasson characterized the transaction as reassurance that Bitcoin holdings can be protected before a soft fork, while continuing to support a soft fork as the preferred long-term solution.
Crypto Expert Report: What Are the 10 Next Crypto to Explode in 2026?
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In AI news today, Alibaba founder Jack Ma reportedly bought more than HK$600M, or about US$76.5M, of Alibaba Group Holding shares over consecutive days following the company’s August 23 announcement of an HK$80Bn Hong Kong share placement.
The South China Morning Post reported the purchases, citing people familiar with the matter. Alibaba chairman Joe Tsai and chief executive Eddie Wu also bought a combined HK$202M of shares over two days, according to Hong Kong stock-exchange filings.
JUST IN: Jack Ma has reportedly bought more than $76 million worth of Alibaba shares to support the company's AI spending push.
— Polymarket (@Polymarket) August 25, 2026
Alibaba shares traded up 1.4% at around HK$115.80 on Wednesday, compared with a gain of about 0.7% for the Hang Seng Index. The gains followed a sharp decline on Monday, when Alibaba shares fell as much as 10% after the company priced its new shares at an 8.4% discount to the previous close.
The HK$80 Bn offering consists of 710 million new shares priced at HK$112.70 each and was expected to close on Wednesday. Alibaba said the net proceeds would be used to expand its full-stack AI capabilities, including chips, computing infrastructure, and AI models. The placement was described in the report as the largest-ever primary follow-on offering by a Hong Kong-listed company.
AI News: Jack Ma’s Alibaba Share Purchase and Insider Buying
SOURCE: Yahoo Finance
Ma’s purchase was reported by the media, while Tsai’s and Wu’s transactions were tied to Hong Kong stock exchange filings. Tsai bought about HK$82M of shares on Tuesday after purchasing about HK$80M on Monday. Wu acquired roughly HK$40M of shares on Monday.
Bloomberg reported that Tsai and Wu bought about HK$120M, or US$15.3M, of shares on Monday following the stock slump. Bloomberg also reported that the two executives together own less than 2% of Alibaba.
The purchases came after Alibaba announced the placement on August 23, as investors assessed both the discounted share issuance and the company’s AI investment plans.
The reported buying by Ma, Tsai, and Wu offers a counterpoint to those concerns, while the placement itself increases the number of shares the company has issued.
Crypto Expert Report: What Are the 10 Next Crypto to Explode in 2026?
Alibaba’s Full-Stack AI Investment Plan
They punished Alibaba for doing the one thing that's working: Alibaba raised $10 billion at a discount to build AI and the stock cracked 8.5%. Bloomberg says the raise was three times oversubscribed anyway. While retail was running, the chairman and the CEO were writing checks:… pic.twitter.com/Hm86ZowyLP
— Rand Group (@randgroup) August 25, 2026
Alibaba said the placement proceeds will support full-stack AI capabilities covering chips, computing infrastructure, and AI models. The new funding comes alongside a broader commitment by Alibaba to spend more than 380 billion yuan, or about US$56.5 billion, over three years on AI infrastructure.
Qwen models have been gaining traction in China. Together, the placement and the wider infrastructure commitment underscore the scale of Alibaba’s AI push, even as investors weigh the cost of that expansion against its potential returns.
Dilution and the Return-on-Investment Question
In other AI news, the 710 million new shares issued through the placement expand Alibaba’s share count. The offering was priced at an 8.4% discount to the previous close, and Alibaba shares fell as much as 10% on Monday after the pricing as investors raised concerns about dilution and returns from the company’s AI investments.
Those concerns follow Alibaba’s sharp increase in capital spending and a 75% year-on-year decline in quarterly net profit, largely reflecting the cost of its AI expansion.
The company’s stated commitment to more than 380 billion yuan in AI infrastructure spending over three years puts the focus on whether its investment in chips, computing infrastructure and AI models can produce adequate returns.
Ma’s reported purchase and the disclosed transactions by Tsai and Wu signal support from senior leadership following the capital raise. For investors, however, the key questions remain the effect of the new share issuance, the cost of Alibaba’s AI expansion, and the returns generated by the company’s AI strategy.
Crypto Expert Report: What is the Best Meme Coin to Buy and Forget Until the Next Bullrun?
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In Coinbase crypto news, the exchange launched tokenized versions of Apple (AAPL), Nvidia (NVDA), Meta (META) and Alphabet (GOOGL) shares on its Base network, giving eligible investors outside the United States a way to trade US equity exposure around the clock.
The four products, AAPLc, NVDAc, METAc and GOOGLc, are structured as B20 tokens backed 1:1 by shares held in segregated custody through Alpaca Securities, an SEC-registered broker-dealer, according to Base’s Aug. 25 announcement.
Base Launches Coinbase Tokenized Stocks, Bringing Apple and NVIDIA Shares Onchain Base announced that Coinbase-issued tokenized stocks are now live on the Base network under the B20 standard. The tokens represent real shares held 1:1 by regulated custodians, allowing eligible… pic.twitter.com/SC79ZnX9p1
— Wu Blockchain (@WuBlockchain) August 24, 2026
The launch moves a product Coinbase previously ran on its own exchange into an open, composable blockchain environment where tokens can move between self-custodial wallets, decentralized exchanges, and lending markets without a brokerage intermediary sitting between every transfer.
Base said the products are now available natively on the network, extending Coinbase’s push into tokenized stocks as a bridge between conventional equity markets and DeFi.
Crypto Expert Report: What is the Best Meme Coin to Buy and Forget Until the Next Bullrun?
Coinbase Crypto News: Base Tokenized Stocks: 1:1 Share Backing, Alpaca Custody, B20 Tokens, and How the Products Work
SOURCE: Yahoo Finance
Each token represents a beneficial interest in an underlying share rather than direct legal title or a synthetic derivative that merely tracks price, according to the NVIDIA prospectus approved by the Financial Services Regulatory Authority on Aug. 4 under Abu Dhabi Global Market rules.
Coinbase Onchain SPV Ltd., a Coinbase-controlled entity incorporated in the ADGM, formally issues the securities and initially holds one corresponding share for each token minted, which is held through a segregated custody account.
Alpaca Securities, an SEC-registered broker-dealer and member of the Financial Industry Regulatory Authority and Securities Investor Protection Corporation, buys, sells, and custodies the underlying equities on the issuer’s behalf.
The prospectus states that deposited shares are held in trust for tokenholders, and, subject to the validity of the trust arrangements under ADGM law, those assets would sit outside the issuer’s estate in a bankruptcy or insolvency proceeding.
The distinction matters for what holders actually receive. Coinbase has marketed the structure as “real 1:1 backed tokenized stocks,” but the prospectus distinguishes beneficial exposure from legal ownership of the underlying shares, and holders receive no automatic voting rights.
Verified, or “vested,” holders may submit voting instructions that the issuer will attempt to relay, subject to timing and practical limits, while token balances do not equal a fixed one-share claim indefinitely; dividend reinvestment and corporate actions adjust the deposit ratio over time.
24/7 Trading on Base: How Tokenized Apple, Nvidia, Meta, and Alphabet Shares Extend Market Access Beyond US Hours
In other Coinbase crypto news, shares of Apple, Nvidia, Meta, and Alphabet trade during regular exchange hours, but their Base-based tokens can be traded 24/7, even on weekends and holidays. This allows decentralized markets to react to news before Wall Street opens.
Base identifies Aerodrome as the main venue for tokenized-stock liquidity, with Aave, Morpho, and Euler offering lending services, while 0x, 1inch, KyberSwap, and CoW Swap facilitate swaps.
Chainlink provides the crucial price data for these applications, enabling tokenized equities to be used as on-chain collateral. This composability allows a token to be traded on decentralized exchanges and used as collateral across lending markets.
However, usability depends on liquidity, smart contract risks, and each protocol’s specific rules.
Tokenized Equity Access Outside the US: Coinbase’s Regulatory Scope, Investor Eligibility, and Competitive Position
Access is the defining constraint for the product. The securities are unregistered under the Securities Act of 1933 or with U.S. state regulators and are offered by Coinbase under Regulation S, which allows transactions outside the U.S. The prospectus prohibits selling or delivering the tokens within the US or to US persons.
Coinbase also operates a regulated brokerage for American customers to trade stocks and ETFs through Coinbase Capital Markets, with execution via Apex Clearing. Furthermore, Coinbase is expanding equity access internationally, including UK stock trading under FCA and MiFID rules.
The competitive landscape is evolving, with Robinhood pursuing tokenized equity on an Ethereum-compatible network, a move that Base founder Jesse Pollak acknowledged as a lag in their progress. Other platforms use different models for stock exposure, such as synthetic methods, in contrast to Coinbase’s beneficial-ownership design.
Crypto Expert Report: What Are the 10 Next Crypto to Explode in 2026?
The author does not hold or have a position in any securities discussed in this article. All prices were quoted at the time of writing.
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Brent crude settled at $92.17 a barrel after the Trump administration announced a possible expansion of secondary sanctions against countries doing business with Iran. The pullback did little to ease the broader unease: crude remains close enough to that level to keep headline inflation and interest-rate expectations elevated.
The S&P 500 fell 21.51 points, or 0.28%, to 7,652.86, and the Nasdaq Composite dropped 200.26 points, or 0.76%, to 25,980.19 on August 24, dragged lower by chip stocks even as the Dow Jones Industrial Average gained 140.15 points to 53,417.16 on strength in financials.
S&P 500, Tradingview
NVIDIA (NASDAQ: NVDA) fell 2.9%, Micron Technology (NASDAQ: MU) slid 5.8%, and Broadcom (NASDAQ: AVGO) dropped 2.6%, pressuring the Philadelphia SE Semiconductor Index. Bitcoin’s price action was not reported alongside these moves, but its behavior through prior Iran-related escalations suggests markets continue to treat the token as a high-beta risk asset rather than an automatic geopolitical hedge.
Iran Oil Risk and Inflation: How Brent Crude Oil Near $92 Reaches Asian Equity and Crypto Pricing
The transmission mechanism starts with Washington’s pressure campaign. Treasury officials on August 24 signaled a broader scope for secondary sanctions on entities doing business with Iran, an escalation the administration billed as an “economic D-Day.”
This ambiguity is itself a pricing input: oil traders are left holding a geopolitical risk premium without a clear catalyst to resolve it either toward de-escalation or a harder supply shock.
In the Second World War, D-Day marked the historic beginning of a campaign with our allies to target and drive the enemy from its positions, including those in third countries. Today, in that same spirit, we are launching an economic onslaught against Iran’s financial connections… pic.twitter.com/1fLyobUucu
— Treasury Secretary Scott Bessent (@SecScottBessent) August 24, 2026
Crude oil actually fell more than 2% on August 24 and continued lower into August 25, with Brent slipping to $91.27 and WTI to $84.25, as ING commodity strategists described the market treating the sanctions push as “marginal rather than market-moving.”
Tim Waterer, chief market analyst at KCM, cautioned that Iran still retains the ability to respond by disrupting shipping, which keeps a residual premium in the price even as headline crude retreats. An oil tanker was struck and disabled by an unidentified projectile near Oman on August 25, according to the United Kingdom Maritime Trade Operations, underscoring that the physical-disruption tail risk has not disappeared even as the sanctions track dominates headlines for now, per Reuters.
An oil tanker has been struck and disabled by a projectile in the Strait of Hormuz off the coast of Oman, causing damage but no casualties, a British maritime agency says. pic.twitter.com/rujafJ4aSc
— Al Arabiya English (@AlArabiya_Eng) August 25, 2026
For oil-importing economies across Asia, a Brent crude oil price anchored near $90-$92 rather than the $70s keeps headline inflation stickier than central banks would prefer. It’s narrowing the room for rate cuts and supporting a firmer dollar.
The U.S. 10-year Treasury yield fell 3.79 basis points to 4.7% on August 24, while the 30-year slipped to 5.2276%, but both remain historically elevated, and the dollar index rose 0.2% to 99.01 the same day. Higher real yields raise the opportunity cost of holding non-yielding or speculative assets, a dynamic that touches gold, tech valuations, and Bitcoin simultaneously rather than any single market in isolation.
Crypto Expert Report: What Are the 10 Next Crypto to Explode in 2026?
NVIDIA Earnings and Valuation Risk: Bitcoin as a High-Beta Risk Asset
Nvidia’s results, due this week, arrive at a moment when the market has little tolerance for an in-line quarter. Richard Reyle, chief investment officer at Questar Capital Partners, said Nvidia needs to impress in order to keep one leg of the stock market stable, while Warsh needs to provide clarity on interest rates to keep the other leg stable. That framing captures the dual dependency: Nvidia’s guidance has to clear an already-elevated bar at the same time bond yields are being reset by fiscal and inflation concerns.
An Nvidia H100 Tensor Core GPU, used for powering large-scale AI models.
Semiconductor names have already priced in some of that anxiety. Micron’s 5.8% slide and Broadcom’s 2.6% drop on August 24 pulled the Philadelphia SE Semiconductor Index lower alongside Nvidia’s 2.9% decline, and the S&P 500 Information Technology index underperformed the broader index that session.
Ohsung Kwon, chief equity strategist at Wells Fargo, said the bigger worry is the hawkish rhetoric starting to emerge from politicians on AI and data centers, adding that his desk has been flagging that as a significant risk heading into the midterms.
Bitcoin does not trade in a vacuum from the Nasdaq. When technology shares de-rate on rising real yields, digital-asset desks have repeatedly observed spillover into crypto risk budgets, since both sit at the high-beta end of institutional portfolios and both compete for the same marginal liquidity.
Rising Treasury yields tend to stall crypto rallies for the same reason they compress tech multiples: a higher discount rate reduces the present value of any asset whose upside is concentrated in future adoption rather than current cash flow.
The Iran conflict complicates the usual safe-haven narrative around Bitcoin. Unlike gold, which climbed to a more-than-three-month high of $4,647.29 an ounce in spot terms on August 24 as a weaker dollar and Treasury buyback speculation drew technical buyers, Bitcoin has shown no comparable pattern of catching a geopolitical-hedge bid during this specific escalation.
BTC USD, Tradingview
If Nvidia disappoints and yields stay elevated into the PCE report and Warsh’s Jackson Hole remarks, the same de-risking flows that hit chip stocks and the broader Nasdaq on August 24 would plausibly extend into Bitcoin, particularly if spot ETF demand cools alongside weaker tech sentiment.
Conversely, a dovish Warsh tone or a benign PCE print could ease the yield pressure driving all three markets, giving Bitcoin room to decouple from the tech-led selling even without any change in the underlying Iran risk.
Crypto Expert Report: What is the Best Meme Coin to Buy and Forget Until the Next Bull Run?
The post Brent Crude Oil $92 Pivot Puts Nvidia and Bitcoin in Focus appeared first on Tokenist.

In Cardano news today, ADA is trading near $0.220 after climbing more than +24% over the past week, a rally that FXStreet’s technical analysis describes as constructive but increasingly stretched. The move has carried price into a dense resistance band spanning $0.231 to $0.249.
This is where Fibonacci retracement levels, horizontal supply, and the 200-day exponential moving average (EMA) all converge in a narrow range. How ADA trades against that cluster over the coming sessions will decide whether the bounce becomes a confirmed breakout or another failed attempt to escape the broader downtrend.
The technical backdrop supports the bullish case to a certain extent. ADA has reclaimed the 50% Fibonacci retracement near $0.213 and is holding above both its 50-day and 100-day EMAs, a structural improvement from the compression that defined price action through most of July and early August.
FXStreet’s daily reading puts the Relative Strength Index (RSI) in the mid-60s, with the Moving Average Convergence Divergence (MACD) positive and above its signal line, momentum that favors buyers, though not without the risk of near-term exhaustion after a 29% weekly advance.
Cardano News: Can ADA Clear the $0.231-$0.249 Resistance Zone?
IF the $ADA macro bottom is in, THEN it is still early. The weekly chart currently does not have a pending buy signal. This week or next. https://t.co/DBLcAVlTHi pic.twitter.com/nwrrN1lNlY
— Jesse Olson (@JesseOlson) August 23, 2026
The $0.231-$0.249 zone is not a single line but a confluence of overlapping technical barriers, which is precisely why it has repeatedly capped ADA’s advances.
The 61.8% Fibonacci retracement sits near $0.231, followed by horizontal resistance around $0.236 tied to prior supply, with the 200-day EMA forming the outer boundary near $0.249.
Each level independently would matter; stacked together, they represent the kind of resistance shelf that typically requires sustained volume, not a single green candle, to clear.
A brief poke above $0.231 or even $0.236 intraday would not, on its own, confirm a breakout. What matters is a daily close, ideally several consecutive closes, above the 200-day EMA near $0.249, since that average has functioned as the dividing line between Cardano’s cyclical downtrend and any genuine trend reversal.
FXStreet’s analysis frames a sustained break above the zone as opening a path toward $0.299, a level tied to the next major horizontal barrier above current price.
The complication is that momentum is already stretched heading into the test. A 29% weekly rally into a well-documented resistance shelf is the classic setup for profit-taking, and derivatives positioning has reportedly turned more cautious even as the spot price holds up, a divergence worth watching rather than dismissing.
Traders leaning bullish on the breakout thesis should distinguish between a momentary wick through resistance and a volume-backed close that actually shifts the broader structure.
Crypto Expert Report: What Are the 10 Next Crypto to Explode in 2026?
ADA Price: $0.213 as the Pivot Level and What a Failed Breakout Would Mean
JUST IN: #Cardano $ADA Founder Charles Hoskinson says "don't bet against me, we're gonna win this fight." pic.twitter.com/vUUBsE3blb
— Angry Crypto Show (@angrycryptoshow) August 21, 2026
In other Cardano news, if the resistance cluster holds, attention shifts immediately to $0.213, the 50% Fibonacci retracement that ADA reclaimed on the way up and which now functions as the first meaningful support.
Holding that level on a pullback would preserve the constructive read on the daily chart even if the immediate breakout attempt stalls. Losing it, particularly on a daily close, would be the clearer signal that the rally has run out of buyers rather than merely paused.
A failed hold of $0.213 would put the $0.196-$0.187 area back in focus, a zone that aligns with prior consolidation and the 50-day EMA. That range has acted as both support and resistance at different points over the past two months, making it the logical downside target if the current bounce proves to be a relief rally inside a larger downtrend rather than a structural reversal.
Readers tracking how Cardano’s broader roadmap catalysts have interacted with these chart levels can find more detail in Tokenist’s coverage of the Dijkstra roadmap’s effect on ADA’s price structure.
Crypto Expert Report: What is the Best Meme Coin to Buy and Forget Until the Next Bull Run?
The post Cardano News: ADA Rally Hits Key Resistance as Breakout Test Nears appeared first on Tokenist.

Donald Trump pressed Congress on Aug. 19 to pass the Digital Asset Market Clarity Act during a White House meeting with leading cryptocurrency executives, framing the market-structure crypto bill as essential to keeping the US ahead of China and other countries in digital-asset innovation.
Bloomberg reported that Coinbase Global CEO Brian Armstrong, Gemini Space Station co-founders Tyler and Cameron Winklevoss, Kraken operator Payward’s co-CEO Arjun Sethi, and Robinhood Markets CEO Vlad Tenev joined the session. The push comes as the bill remains stalled in the Senate, where partisan disagreements over ethics safeguards tied to Trump’s own crypto holdings have blocked a path to the floor.
NEW: SEC Chair Paul Atkins at today's White House crypto meeting with President Trump: "The most important priority is for Congress to send the CLARITY Act to your desk for your signature. And the SEC is doing everything we can to support that work." https://t.co/8qArTqpNYN pic.twitter.com/CDu7oAQud2
— Bitcoin.com News (@BitcoinNews) August 19, 2026
Senate Majority Leader John Thune filed a procedural motion on Aug. 8 to set up a cloture vote once the chamber returns from recess, according to Reuters, but lawmakers left Washington for the August break without a final vote, pushing the fight into mid-September. The passage requires 60 votes, meaning Republicans need at least 8 Democrats to break a filibuster, even with full GOP support, Reuters reported.
The stakes extend beyond legislative procedure. With Congress deadlocked, Trump’s own regulators, SEC Chair Paul Atkins and CFTC Chair Michael Selig, both crypto-industry appointees, are pushing agency-level reform and moving to fill the vacuum with rulemaking that industry executives say is useful in the short term but inherently reversible.
Trump CLARITY Act Push: What the Digital Asset Market Clarity Act Would Change and Why Senate Passage Remains Blocked
White House Crypto Summit recap: • President Trump says US considers buying "sizable" amounts of Bitcoin & other crypto. • Trump calls on Congress to pass Crypto Clarity Act. • Trump says US is ensuring it remains the "undisputed leader" in $BTC & crypto. •…
— Watcher.Guru (@WatcherGuru) August 19, 2026
The Clarity Act aims to define which tokens are classified as securities or commodities and to determine whether the SEC or the CFTC has regulatory authority over each. This distinction has been central to years of enforcement disputes, prompting significant lobbying for the bill.
Thune’s filing on August 8 set up a key procedural vote in the Senate, indicating Republican leadership’s optimism about securing 60 votes despite the bill having previously stalled.
Meanwhile, the SEC is working on a rule to exempt certain token offerings from securities registration, while the CFTC is set to discuss crypto oversight at an upcoming industry conference.
A CFTC spokesperson has emphasized the agency’s readiness to protect U.S. leadership in financial markets if Congress does not take action.
Crypto Bill Deadlock: Democratic Ethics Demands, Trump Crypto Interests, and the Eight Votes Republicans Need
With Republicans holding a narrow Senate majority, at least eight Democrats must join to reach the 60-vote threshold for a crypto regulatory framework. Many Democrats support regulations but seek tougher safeguards against money laundering, fraud, and conflicts of interest than the current Republican proposal offers.
Trump’s reported $1.4Bn income from crypto ventures last year has fueled calls for stricter disclosure requirements. The divide on the bill even extends to Wall Street, with differing views from Goldman Sachs and JPMorgan.
Industry leaders warn that the current deadlock poses a greater risk, as future administrations could reverse favorable regulations established under the SEC and CFTC.
SOURCE: Kalshi Crypto Market-Structure Impact: What the Senate Impasse Means for Exchanges, Stablecoins, DeFi, and US Competitiveness
Without a statute, all SEC and CFTC rules created this year are vulnerable to litigation and potential reversal by future administrations, as demonstrated by the Trump administration’s rollback of Biden-era regulations. This uncertainty leaves token classification and listing standards unsettled.
Traditional finance is already challenging this instability in court. For instance, CME Group sued the CFTC over its approval of crypto futures, while the Securities Industry and Financial Markets Association is urging the SEC to limit blockchain-based stock trading plans. Such litigation could delay or derail agency rules.
Summer Mersinger, CEO of the Blockchain Association and former Republican CFTC commissioner, highlighted the need for permanent solutions, emphasizing that while current agency actions provide short-term benefits, only legislation can eliminate the long-term compliance risks that hinder institutional investment and US competitiveness without passing this crypto bill.
This article is for informational purposes only and does not constitute investment advice. The author holds no positions in the securities or assets discussed.
The post Senate Deadlock Leaves US Crypto Bill Rules Vulnerable to Reversal appeared first on Tokenist.

Cardano price is trading at $0.173, with little to no movement over the past 24 hours despite its bullish prediction. ADA is holding just above a support shelf that has contained the token for the past week.
The bigger question is whether the Dijkstra roadmap can change that setup. For now, ADA remains caught in a market where capital keeps rotating between altcoins.
ADA broke below the ascending channel that guided its recovery from roughly $0.153 in late July. The token climbed above $0.21 on Aug. 7 before sellers stepped back in, leaving ADA around 17% below that high.
Cardano Plans Major Two Phase Dijkstra Upgrade Cardano (@Cardano) has outlined a two phase rollout for its upcoming Dijkstra era. Phase one targets Q4 2026 code completion and will activate Ouroboros Linear Leios. The upgrade is designed to increase throughput using… pic.twitter.com/2HwcmKE1KZ
— BSCN (@BSCNews) August 17, 2026
The breakdown also signals a shift in market structure after ADA failed to maintain its recovery trend. Heavy capital rotation across altcoins has added pressure as traders move toward stronger momentum plays
The pattern has become familiar. Rallies attract buyers, momentum fades, and capital quickly moves into another token. Cardano is hardly alone in that setup. Risk appetite has remained choppy for weeks as rate cut expectations shift and ETF flows reverse.
Those moves can hit altcoin liquidity quickly, especially when Bitcoin fails to provide a clear direction. ADA’s weakness, therefore, looks more like a market symptom than an isolated Cardano problem.
Crypto Expert Report: What Are the 10 Next Crypto to Explode in 2026?
Cardano Price Prediction: Hold $0.17 Support This Week?
ADA is trading at $0.173, almost exactly at its 50-day SMA near $0.173. The level has acted as near-term support despite ADA trading below its 20-day EMA near $0.183.
The 200-day SMA sits much higher at roughly $0.228. That gap shows how much momentum ADA has lost since its August rally.
Daily trading volume remains around $190 million to $195 million. That is not enough to rule out another sharp move if sellers manage to break the current support.
The 4-hour RSI sits at 35.06, while its signal line is at 33.32. Selling pressure is elevated, but ADA has not reached oversold territory yet.
ADA USD, Tradingview
A recovery above $0.183 could put $0.185 and then $0.200 back in focus. That would give the bulls a chance to reclaim the momentum lost during the channel breakdown.
For now, ADA could remain stuck between $0.170 and $0.180 as traders wait for more clarity around the Dijkstra roadmap. A move below $0.171 would weaken the setup and bring the July low near $0.153 back into view.
The 17% drop from August highs has already punished breakout buyers. Reclaiming $0.200 will require ADA to clear several resistance levels, while its roughly $6.3 billion market cap makes a quick doubling increasingly difficult.
For ADA, the next move may come down to one simple question: can buyers defend $0.170 before sellers turn the recent pullback into another leg lower?
Crypto Expert Report: What is the Best Meme Coin to Buy and Forget Until the Next Bullrun?
The post Cardano Price Prediction: Game-changing Dijkstra Roadmap? appeared first on Tokenist.

Senate Majority Leader John Thune filed cloture on H.R. 3633, the Digital Asset Market Clarity Act, early Saturday, shortly before the chamber adjourned for its August recess, formally putting the crypto market-structure bill on a path to the floor when the Senate reconvenes on September 14. Right now, Kalshi odds have fallen below 40% in favor of the bill passing during September.
The filing does not guarantee passage, but it replaces months of shifting target dates with a fixed procedural event: a cloture vote requiring 60 senators to proceed. The move matters because the Senate had already missed one deadline.
Lawmakers failed to bring the bill up before the August recess after Democrats withheld the unanimous consent needed to expedite floor business, a setback that compressed the legislative runway ahead of the November midterms. Thune’s cloture filing means leadership can move directly to a vote count in September rather than spend additional session days arranging one.
Sen. Cynthia Lummis, the bill’s lead Senate sponsor, described Thune’s filing as “clearing the way for CLARITY.” Her framing captures what changed: the question is no longer whether the Senate will schedule a vote, but whether Republicans can find the Democratic votes to survive it.
CLARITY Act Senate Vote: What the September Floor Schedule Actually Confirms and Which Provisions Remain Unresolved
SOURCE: Kalshi
Cloture on a motion to proceed is a narrow procedural step that requires three-fifths of the Senate, or 60 votes. This means Republicans, holding 53 seats, need at least seven Democrats to begin debate.
Achieving this threshold allows consideration of the bill, but does not resolve ongoing disputes since the Senate Banking Committee advanced it 15-9 in May.
The bill, H.R. 3633, aims to create a federal framework for digital assets, dividing regulatory authority between the SEC and CFTC, moving away from the case-by-case approach to crypto oversight.
The contentious details in the Senate’s revised text include stablecoin rewards, where the latest proposal would ban rewards on idle stablecoin balances while allowing transaction-based incentives, leading to tensions between banks and stablecoin issuers.
With Kalshi odds falling from 41% to 39% in favor of the CLARITY Act passing in September, it is looking less likely that the September 15 meeting will provide the much-needed breakthrough. 43% of bettors are placing their money on the bill being passed before January 1st, 2028.
If this drags out through 2028, it could spell disaster for the crypto markets, as many analysts believe that passing the CLARITY Act will provide the spark for the next bull run.
September CLARITY Act Vote and the 60-Vote Coalition: Which Democrats, Republicans, Banks, and Crypto Firms Determine the Outcome
The coalition math for passing the legislation is clear but challenging. Republicans need seven Democratic votes for cloture, with the White House framing a September 15 deadline as critical.
Democrats are primarily concerned about consumer protection, illicit finance enforcement, and whether government officials can hold crypto business interests. A bipartisan proposal may require President Trump to divest from his crypto ventures, influencing Democratic support.
Banks and crypto firms are at odds over stablecoin rewards, with banks wanting them treated like deposits to safeguard their franchises, while crypto issuers argue that would undermine their competitiveness.
Coinbase CEO Brian Armstrong expressed the industry’s frustration at the Senate’s recent inaction on the CLARITY Act, urging lawmakers to complete the process in September to avoid further delays.
Crypto Expert Report: What Are the 10 Next Crypto to Explode in 2026?
Crypto Market-Structure Impact: What a September Vote Means for Exchanges, Stablecoins, DeFi, and US Capital-Market Infrastructure
What Happens To The CLARITY Act After The August Recess? Senate Majority Leader John Thune filed cloture early Saturday on the motion to proceed to the CLARITY Act. The crypto market structure bill now has a path to the floor when the Senate returns from recess. A cloture vote… pic.twitter.com/SBjIAySRiF
— BSCN (@BSCNews) August 10, 2026
The SEC-CFTC jurisdictional split central to CLARITY impacts listing and compliance for exchanges. A clear split would allow platforms to classify tokens based on statutory criteria, reducing delisting and litigation risks. However, the bill must pass cloture and a final vote, which are not guaranteed.
For stablecoin issuers, the Section 404 compromise delineates permissible transaction-linked incentives from deposit-like yields, potentially forcing those focused on yield-bearing products to restructure. In contrast, those emphasizing payment velocity may face limited disruption.
DeFi protocols face significant uncertainty, as the treatment of non-custodial activity remains unsettled. If the current DeFi language passes, it may impose registration or disclosure requirements on protocols outside SEC or CFTC oversight. Investors should view September as indicative of the direction rather than a final outcome, as amendments, delays, and failures are still possible.
What to Watch Before September: Amendments, Senate Vote Count, and House Reconciliation
The immediate marker is the cloture vote itself once the Senate reconvenes on September 14. Whip counts reported by named senators and staff in the run-up to that date will indicate whether Republicans have secured the seven Democratic votes needed, particularly on the presidential-divestment language that Democrats have made a condition of support.
Even a successful cloture vote and floor passage would not end the process. Because the Senate has amended the House-passed version of H.R. 3633, the two chambers would still need to reconcile competing texts before any final bill reaches the president’s desk, a step that could extend well past September regardless of how the cloture vote breaks.
Failure to reach 60 votes, by contrast, would seriously imperil the bill’s remaining path through the 2026 session given the shrinking legislative calendar ahead of the midterms.
Crypto Expert Report: What is the Best Meme Coin to Buy and Forget Until the Next Bullrun?
This article is for informational purposes only and does not constitute investment advice. The author holds no positions in the securities or assets discussed.
The post CLARITY Act News: Kalshi Odds Less Than 40% to Pass in September appeared first on Tokenist.

Wintermute USA LLC registered as a broker-dealer with the Securities and Exchange Commission (SEC) and became a member of the Financial Industry Regulatory Authority (FINRA) on August 7, 2026, establishing a regulated presence in US securities markets for a major digital-asset liquidity provider.
According to an official announcement, the New York-based affiliate can trade equities and equity options as principal and participate in primary markets for exchange-traded products. The registration places Wintermute within the infrastructure used to create and redeem shares of digital-asset exchange-traded products.
The registration gives Wintermute USA a regulated route into US securities activity while keeping its business focused on proprietary trading. Under SEC and FINRA oversight, the firm can provide liquidity to national securities exchanges and over-the-counter counterparties for its own account.
Good morning, USA Wintermute USA is now an SEC-registered broker-dealer and FINRA member (https://t.co/7rQGL6UzX6) The registration marks Wintermute's entry into U.S. regulated markets and strengthens our coverage of institutional counterparties in the region pic.twitter.com/IBZBbAB7GP
— Wintermute (@wintermute_t) August 6, 2026
Wintermute Broker-Dealer Registration: How SEC Status Expands Access to Stocks and Crypto ETFs
According to Wintermute, the registration is explicitly limited to proprietary principal trading. Wintermute USA LLC is authorized to trade equities, equity options, and other security-based instruments for its own account, self-clear digital-asset securities transactions for its own account, and act as an Authorized Participant for exchange-traded products, including products tied to digital assets.
Authorized Participants create and redeem ETF shares, a primary-market function that helps align an ETF’s trading price with its underlying assets. That role gives Wintermute USA the ability to participate in the market infrastructure supporting crypto-linked exchange-traded products rather than only trading their shares in secondary markets.
Wintermute said the registration follows continued investment in the U.S. market and active engagement with regulators and policymakers on market structure and digital-asset regulation.
Wintermute is entering a broker-dealer market with fewer registered firms than in recent years. FINRA oversaw 3,184 registered broker-dealers at the end of 2025, down from 3,394 in 2021.
Wintermute Registers as U.S. Broker-Dealer, Targets Wall Street Market-Making Giants The Wall Street Journal reported that Wintermute’s U.S. arm has registered as a broker-dealer, bringing it under FINRA and SEC oversight and making it eligible to seek designated market-maker… pic.twitter.com/bD9BpIDLJU
— Wu Blockchain (@WuBlockchain) August 6, 2026
Regulated Market Access: Why Wintermute’s SEC Status Matters for Institutional Crypto Liquidity
Across global venues, the Wintermute group facilitates more than $10 billion in average daily trading volume and provides liquidity across more than 60 centralized and decentralized exchanges. Crypto Briefing reported that the firm processed approximately $3.5 trillion in trading volume in 2025. Wintermute has also said in its H1 2026 OTC report that institutional counterparties accounted for roughly 72% of its spot trading volume, up from 59% a year earlier.
Wintermute said its U.S. institutional client base includes ETF issuers. Its ability to act as an Authorized Participant allows Wintermute USA to participate directly in the creation-and-redemption process for exchange-traded products while operating for its own proprietary account.
Wintermute founder and CEO Evgeny Gaevoy said the company expects digital assets and traditional finance to develop in parallel, intersect in new ways, and integrate more deeply over time. He said firms operating across both centralized digital-asset markets and regulated U.S. securities venues will need technical and operational expertise in both areas.
The registration also comes amid developments in tokenized securities. In March 2026, the SEC cleared Nasdaq’s rule for tokenized share trading, and Intercontinental Exchange backed a tokenized equities venture with OKX in June. Citigroup research estimates that the current $17 billion tokenized-asset market could expand to $5.5 trillion by 2030, while a16z crypto estimates that real-world tokenized assets excluding stablecoins have surpassed $34 billion.
Stocks and Crypto ETFs: What Wintermute’s Broker-Dealer Status Means for Market Structure
SOURCE: CoinGlass
According to reports on the announcement, Wintermute aims to compete with major market makers, including Citadel Securities, Jane Street, and Jump Trading, within three to five years.
Its planned rollout begins with commodities and digital-asset ETFs, with tokenized equities identified as a potential later expansion subject to further regulatory approval. Designated Market Maker status on a major exchange is the stated longer-term objective.
Only three firms currently hold Designated Market Maker status on the New York Stock Exchange under its market model: Citadel Securities, Virtu Americas, and GTS Securities. Wintermute’s ability to reach comparable status would depend on additional approvals.
Wintermute has already entered adjacent markets through over-the-counter market making in tokenized gold products including PAXG and XAUT. The company’s US broker-dealer registration adds regulated securities and exchange-traded product services to its proprietary trading activities.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Details are based on Wintermute’s announcement and publicly available reporting as of August 2026. Forward-looking statements about Wintermute’s strategy and expansion plans are not guarantees of future results.
The post Wintermute Gains Regulated Route Into U.S. ETF Markets appeared first on Tokenist.

Galaxy Digital (NASDAQ: GLXY) shares fell sharply following the firm’s August 5, 2026 earnings release, which reported an $85M net loss for Q2 2026 and gross revenues and gains from operations of $8.711Bn, down 15% QoQ from $10.213Bn in Q1 2026.
This comes as depreciation in digital asset prices hammered the Treasury and Corporate segment and pushed firm-wide adjusted EBITDA to negative $77M, according to the company’s August 5 earnings release.
Galaxy is becoming an AI company with a crypto problem. An $85 million Q2 loss sent $GLXY down 14% as falling crypto prices hit earnings. But its AI data centre pipeline now exceeds 5.7 GW, while the CoreWeave lease could generate around $80 million per quarter at 90%+… pic.twitter.com/dYGNbKJ0Ot
— BeInCrypto (@beincrypto) August 6, 2026
The headline loss, however, obscures a meaningful operational split: the Digital Assets segment generated adjusted gross profit of $66M, up 34% QoQ, while the Helios campus in West Texas delivered its first revenue-generating quarter under a 15-year CoreWeave lease, contributing $20M in adjusted gross profit and $11M in adjusted EBITDA.
The central investor tension for GLXY is now structural: the operating businesses are improving, but crypto-linked balance sheet exposure continues to overwhelm segment-level gains whenever digital asset prices soften.
Mark-to-Market Transmission: How Digital Asset Price Depreciation Turns Segment Gains Into a Firm-Wide Net Loss
SOURCE: Yahoo Finance
Galaxy’s balance sheet reflects unrealized losses on its digital assets, leading to a reported adjusted gross loss of $42M and an adjusted EBITDA of negative $78M in Q2 2026.
Net digital assets fell 15% quarter-over-quarter, from $1.362Bn to $1.160Bn, due to price declines and risk reduction. The Treasury and Corporate segment’s losses overshadowed the $86M adjusted gross profit from Digital Assets and Data Centers.
This trend follows a $216M net loss in Q1 2026, although Q2 shows improvement amid ongoing market pressures. The company’s earnings remain closely tied to crypto prices.
This highlights a challenge in achieving revenue diversification, as the AI data center revenue stream needs to grow significantly to mitigate balance sheet volatility.
Crypto Expert Report: What is the Best Meme Coin to Buy and Forget Until the Next Bullrun?
Galaxy Digital Q2 2026 Earnings: $8.711Bn Gross Revenue, $85M Net Loss, and the Helios Campus Starting to Count
Galaxy’s Q2 2026 earnings release highlights key performance differences across segments. The Digital Assets segment generated $66M in adjusted gross profit, up from $49M in Q1, with Global Markets contributing $49M despite a 7% decline in trading volumes against a broader industry drop. The loan book averaged $1.438Bn, a slight increase from Q1.
Asset Management and Infrastructure Solutions added $17M in profit, but assets under management dropped 12% to $7.1Bn due to falling digital asset prices, with ETF assets down 18% to $1.805Bn.
The AI data center business showed significant growth, boosting adjusted gross profit from $3M in Q1 to $20M in Q2, driven by the ramp-up of Phase I data hall delivery. Total data center assets reached $2.544Bn, with $448M in capex deployed during the quarter. Galaxy expects Phase I to generate about $80M in quarterly leasing revenue starting Q3 2026.
Bull, Base, and Bear Case: What the Helios Ramp and Crypto Exposure Mean for GLXY Investors in Q3 2026
So much criticism of $GLXY. Have held since 2020. People forget what it is right now: it's a crypto trading / infra biz that has frontloaded an AI infra buildout that will ramp meaningfully in H2 with Helios generating cash as of Q2. Helios hedge got dragged w/ the Leopold… pic.twitter.com/UbrZUYtevM
— XCap (@XCapitalMgmt) August 5, 2026
Bull Case: The Helios Phase I lease is expected to generate ~$80M in quarterly revenue with margins over 90% starting Q3 2026, creating a reliable income stream. Recent developments include a $3.5Bn private offering for Helios I Phase II and site acquisitions that expand the power pipeline beyond 5.7 GW. Galaxy is also in talks for the remaining 830 MW of capacity at Helios and has an additional 2 GW under study to meet growing AI infrastructure demand.
Base Case: Operating businesses are improving on an adjusted gross profit basis while treasury losses decrease as crypto markets stabilize. The Digital Assets segment saw 34% QoQ adjusted gross profit growth, showing reduced reliance on token prices. A partnership with BNY enhances institutional distribution possibilities not yet reflected in current financials.
Bear Case: High capital expenditures of $448M in Q2 are hindering cash generation, and the new $3.5Bn senior secured debt necessitates precise Helios lease performance. Delays in Phase II or declines in AI infrastructure demand could threaten the balance sheet. Additionally, a 15% QoQ drop in digital asset exposure leaves Galaxy vulnerable, with $1.16Bn still linked to crypto that could exacerbate losses if prices fall again.
Crypto Expert Report: What Are the 10 Next Crypto to Explode in 2026?
Disclaimer: The author does not hold or have a position in any securities discussed in the article. All stock prices were quoted at the time of writing.
The post Helios Ramp Can’t Offset Crypto Losses as Galaxy Digital Posts $85M Q2 Net Loss appeared first on Tokenist.

SpaceX (NASDAQ: SPCX) reported Q2 2026 revenue of $7.81Bn, up 92% year-over-year from $4.1Bn and well above the $6.93Bn consensus per LSEG, in its first-ever quarterly earnings release on August 4, 2026.
However, the stock fell approximately -8.5% in after-hours trading to around $114.60 as capital expenditure of $18.37Bn, driven by $15.83Bn in AI infrastructure alone, erased the top-line euphoria that had sent shares up 9.43% during the regular session to $125.33.
SPACEX $SPCX Q2’26 EARNINGS HIGHLIGHTS Revenue: $7.8B (Est. $6.93B) ; +92% YoY EPS: -$0.09 (Est. -$0.26) EBITDA: $3.5B (Est. $2.03B) ; +191% YoY Net Income: -$541M (Est. -$1.94B) Segment Revenue: Space: $962M; +29% YoY Connectivity: $4.3B; +66% YoY… pic.twitter.com/oyqSBGmY4F
— Wall St Engine (@wallstengine) August 4, 2026
Elon Musk told analysts the company is targeting $1 trillion in revenue by 2030, one year ahead of the prior estimate he offered just six weeks ago at the IPO, while the AI segment posted a $1.26Bn operating loss in the quarter and Starlink remains the company’s sole profitable business unit.
A 92% revenue beat paired with a $541M net loss and a capex run rate that now eclipses quarterly revenue is the precise configuration that forces growth-stage investors to recalibrate.
The SpaceX Capex-to-Loss Transmission: How $18.3Bn in AI Infrastructure Spending Turns a Revenue Beat Into an After-Hours Selloff
SOURCE: Yahoo Finance
SpaceX’s Q2 2026 capital expenditure reached $18.37Bn, a sixfold increase from the previous year, significantly exceeding analyst estimates by 39%. Of this amount, $15.83Bn was dedicated to AI compute buildout, doubling from Q1 2026.
CFO Bret Johnsen indicated that capex levels may remain high for the next two quarters, suggesting total AI infrastructure spending could surpass $60Bn by year-end.
Despite claiming efficient deployment with a sub-one-year payback, the AI unit reported an adjusted EBITDA of $1.1Bn against a $1.26Bn operating loss, raising questions about profitability.
The market’s response highlights that when expenses outpace revenue growth, stock prices typically reflect that disconnect, and SpaceX is not immune to this trend.
SpaceX Q2 2026 Earnings: $7.8Bn Revenue, $541M Net Loss, and the Starlink Segment Carrying the Entire P&L
SpaceX’s Q2 2026 report reveals key insights into its revenue streams. The Connectivity segment, primarily Starlink, generated $4.29Bn, exceeding estimates and yielding $1.66Bn in operating income, making it the only profitable unit.
The Space segment reported $962M in revenue but had a $542M operating loss, indicating challenges in the core rocket business. The AI segment brought in $2.56Bn in revenue but also faced a $1.26Bn operating loss.
Starlink reached 12 million users by the end of Q2, a 17% increase from the previous quarter and double year-over-year. Average revenue per user fell to $66 from $85 a year earlier, reflecting a shift to lower-priced international plans.
The net loss for the quarter decreased to $541M from $1.008Bn a year prior, with a total loss of around $2Bn for the first half of 2026. Cash surged to $93.5Bn, while debt rose to $36.8Bn.
Musk has advanced his $1 trillion revenue projection to 2030, with SpaceX on track for $100Bn in annual recurring revenue by year-end, aided by contracted cloud services and a pending $60Bn acquisition.
Crypto Expert Report: What is the Best Meme Coin to Buy and Forget Until the Next Bullrun?
Analyst Pushback: Why a 92% Revenue Beat and a $1 Trillion Forecast Aren’t Resolving the AI Profitability Question
BREAKING: SpaceX is partnering with @Nvidia to design the Starmind Al1 satellite compute payload. Each Starmind AI1 satellite will feature: • NVIDIA Rubin GPUs • NVIDIA Vera CPUs • Up to 150 kW of compute • Solar power in space • Laser links to Starlink AI data centers… pic.twitter.com/nxHf3TKsCB
— DogeDesigner (@cb_doge) August 4, 2026
The bull case for SPCX hinges on Starlink’s dominance in satellite connectivity and rapid returns from AI infrastructure. SpaceX president Gwynne Shotwell highlighted that the company has never lost an enterprise Starlink customer, describing this revenue as sticky.
Elon Musk projected Starlink could eventually handle most internet traffic in its markets. Deutsche Bank’s Edison Yu rates SPCX a Buy with a $255 price target, suggesting a 103% upside.
Conversely, the bear case emphasizes the AI business’s significant losses, making it hard to argue SpaceX is undervalued. Analysts like Brady Wang note that while Starlink’s subscriptions are strong, it is the only profit-generating segment, raising concentration risk as AI investment increases. Matt Britzman highlights a valuation disconnect, with Musk discussing future projections amid current losses of $2 billion in H1.
Additionally, Musk stated that SpaceX will exclusively use Nvidia’s Vera Rubin chips for its AI data centers and expects a significant share of Nvidia’s GPU output by 2026. This reliance on Nvidia could introduce supply-chain variability into capex projections for H2 2026.
SPCX Below IPO Price: The After-Hours Move, the August 6 Lockup, and What the Float Mechanics Mean for Near-Term Price Action
SPCX debuted at $150 on June 12, 2026, but has since traded below its $135 offering price, closing at $125.33, a 7.2% discount, and further dropping to about $115.76 in after-hours trading, reflecting a 14.2% decline.
IPO investors are facing losses, especially as the key reference level is $135. Additionally, the August 6 lockup expiration will release around one billion shares (20% of total shares) for sale, creating potential oversupply.
With a pre-earnings closing price of $114.53, analysts warned that this combination of weak earnings and increased supply poses significant risks to the stock.
Crypto Expert Report: What Are the 10 Next Crypto to Explode in 2026?
The author does not hold or have a position in any securities discussed in the article. All stock prices were quoted at the time of writing.
The post SpaceX Debut Earnings: Revenue Doubles but $18B AI Capex Triggers After-Hours Selloff appeared first on Tokenist.

In Binance Iran news today, at least $676M in cryptocurrency flowed from wallets linked to Shelbit, an unlicensed Dubai-based exchange allegedly operating at the center of a sprawling sanctions-evasion network by Iran, into Binance, according to a Reuters investigation published July 31, 2026.
Blockchain data reviewed by Reuters showed approximately $540M of those transfers arrived after Dubai’s Virtual Assets Regulatory Authority (VARA) had already fined Shelbit for operating without a license.
The findings position Binance as the primary named counterparty in what Reuters describes as a $4Bn sanctions-evasion structure connecting Iran’s central bank, a Farsi-language online gambling network spanning more than 2,000 websites, and an Iranian bitcoin mining operation to global crypto markets through a single offshore exchange.
A Reuters investigation found that Shelbit, an unlicensed cryptocurrency exchange based in Dubai, processed at least $4 billion in cryptocurrency since May 2024 as part of a suspected Iranian sanctions-evasion network. Shelbit handled at least $125 million linked to Iran's… pic.twitter.com/aOsmxBh74r
— Tabz (@TabzLIVE) August 1, 2026
Shelbit processed at least $4Bn since May 2024 despite having no functional public website, operating out of a three-room office above a budget hotel in Dubai’s Deira district, registered alongside a watch trading business, according to Reuters.
The scale and timing of the alleged flows, $540M of the $676M routed to Binance arriving after VARA’s fine, indicate the exchange continued operating at volume through regulatory action rather than winding down in response to it.
Transaction Mechanics and the Binance Iran Routing Structure
Sanctions didn't push Iran off the financial grid, they pushed it onto stablecoins Iran's crypto economy passed $7.78B last year across roughly 75 domestic exchanges, per Chainalysis, with documented IRGC wallets and leaked data on the Central Bank's own usage. Analysts can… pic.twitter.com/aiUnpejCXB
— BSCN (@BSCNews) August 2, 2026
Blockchain data reviewed by Reuters indicates that funds flowed from Shelbit-linked wallets to Binance, with Shelbit acting as an aggregation layer for money from three main sources: Iran’s central bank, an unnamed Iranian bitcoin mining entity, and an Iranian online gambling network.
At least $125M was traced from the central bank to Shelbit, along with another $20M from the mining operation. The gambling network, led by social media influencers Sasha Sobhani and Pooyan Mokhtari, generated significant transaction volume.
Binance stated that Shelbit never had a direct account on its platform, and transactions were not flagged as high-risk by its blockchain analytics firm. While Binance processed hundreds of millions of dollars related to Shelbit users, it emphasized that its compliance team investigated and froze relevant accounts when flags arose.
Rich Sanders, a blockchain investigator, suggested that the operation was linked to the Islamic Revolutionary Guard Corps (IRGC), which has reportedly co-opted online gambling to bypass international banking restrictions.
Crypto Expert Report: What is the Best Meme Coin to Buy and Forget Until the Next Bullrun?
Iran’s Offshore Exchange Strategy: Unlicensed Intermediaries and Global Counterparty Exposure
The Shelbit structure leverages a jurisdictional gap noted in previous Iran-linked enforcement actions: domestic Iranian exchanges face OFAC designation and volume declines, prompting transaction flows to offshore intermediaries in jurisdictions with lighter regulatory oversight.
Shelbit, registered in Dubai, provides distance between sanctioned Iranian entities and global crypto markets. This gap is significant for compliance; while OFAC can directly sanction Iranian exchanges, targeting a UAE-registered entity requires proof of its role in sanctions evasion.
VARA’s July 24, 2025 cease-and-desist against Shelbit for serious anti-money laundering violations lays the groundwork for OFAC’s potential designation. A US Treasury spokesperson indicated that OFAC is seriously considering these allegations in efforts to disrupt Iranian digital asset networks.
Binance Compliance Exposure: What $540M in Post-Fine Flows Means for a Platform Under Regulatory Scrutiny
SOURCE: TradingView
The $540M figure from flows to Binance after VARA fined Shelbit highlights ongoing transactions despite Shelbit’s documented regulatory issues as a sanctioned, unlicensed entity.
Binance’s claim that Shelbit-linked transactions weren’t flagged as high-risk by its analytics vendor shifts focus to the effectiveness of its screening methods rather than its intent.
Binance’s European licensing efforts face challenges, especially regarding compliance history and AML controls, which are crucial for regulatory assessments in EU member states.
Any enforcement action tied to Iranian sanctions would impact these licensing reviews. VARA is investigating Shelbit for sanctions evasion and has ordered the exchange to cease all unlicensed crypto activities, likely requiring Binance to provide transaction records for the relevant period.
Crypto Expert Report: What Are the 10 Next Crypto to Explode in 2026?
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Y Combinator-backed AI fintech startup Corgi Funds listed 24 additional ETFs on Cboe BZX Exchange across June 30 and July 2, 2026: 15 leveraged 2x Daily ETFs priced at a 0.45% expense ratio and nine July Series Structured Buffer ETFs at a 0.30% net expense ratio.
This extends a launch blitz that Bloomberg’s ETF IQ newsletter reported on July 30, putting the Chicago-founded firm on pace to list roughly 500 funds within its first year of operation.
Corgi is bringing silicon valley playbook to ETF Terrodome: “We have goals of competing with the likes of BlackRock, Vanguard, Invesco and State Street,” said Anthony Crinieri, 27, PM at Corgi. “It doesn’t happen overnight; we’re not naive.” Corgi needs $56mil in ann revenue to… pic.twitter.com/BBtwRFfZbB
— Eric Balchunas (@EricBalchunas) July 30, 2026
That 500-fund target, attributed by Bloomberg to Corgi’s staged rollout strategy, took BlackRock decades to reach across its iShares lineup. Corgi, valued at $1.3Bn following a $160M Series B led by TCV, bringing total capital raised to $268M.
This is compressing that timeline to a single calendar year, backed by an AI-driven security selection process and fee structures that systematically undercut incumbent issuers across leveraged, buffered, and thematic product categories.
Corgi Funds July Product Architecture: 2x Single-Stock Leverage at 0.45% and a 27-Fund Buffer Grid Built on FLEX Options
SOURCE: MorningStar
The June 30 tranche included 14 single-stock 2x Daily ETFs, such as Apple and GameStop, along with the Corgi Quantum Computing 2x Daily ETF (Cboe BZX: XQTM), each with a 0.45% expense ratio, the lowest among US-listed 2x daily long ETFs.
The July 2 tranche added nine Structured Buffer ETFs using FLEX Options, offering price return exposure to various benchmarks while providing downside protection ranging from 10% to 100% over the annual period from July 1, 2026, to June 30, 2027.
The Corgi US Equities 100% Structured Buffer ETF, July Series (Cboe BZX: HJLY) targets full absorption of SPY losses within its cap.
This brings Corgi’s buffer lineup to 27 funds across three series, with average gross and net expense ratios of 0.40% and 0.30%, respectively, after a fee waiver. CEO Nicolas Laqua noted the commitment to competitive pricing and investor choice.
Crypto Expert Report: What is the Best Meme Coin to Buy and Forget Until the Next Bullrun?
Bloomberg’s ‘Spray-and-Pray’ Label and the $22 Trillion ETF Market Corgi Is Entering at Record Pace
Bloomberg’s ETF IQ newsletter described Corgi’s approach as a spray-and-pray strategy in the highly competitive $22 trillion global ETF industry. On May 6, 2026, Corgi launched 28 actively managed funds in a single day, marking the largest thematic ETF launch in US history by one issuer.
This rollout included the Corgi Crypto Infrastructure ETF (BLCK) and the Corgi Digital Banking & Fintech Infrastructure ETF (KYC), both competitively priced between 0.20% and 0.35%.
Corgi’s extensive lineup covers various themes, including aerospace, AI cybersecurity, and robotics, with the aim of creating a broad product grid.
This strategy allows a few successful funds to offset the overall infrastructure costs, relying on AI-driven efficiency to manage overhead at low asset levels.
SOURCE: CoinGlass Structural Significance: A Newly Registered Adviser With $268M and No Long-Term Track Record Entering the Most Crowded Fee-War Environment in ETF History
Corgi Funds filing infrastructure and fee strategy pose challenges to established issuers. With a 0.20%–0.45% expense ratio for thematic, leveraged, and buffer products, Corgi funds rank at the lower end of the competitive spectrum.
This pricing is sustainable only if their $268M reserve can cover operating losses until assets under management (AUM) reach a self-funding level. However, this becomes risky if key funds fail to attract beyond initial capital.
The prospectus clearly outlines risks: Corgi Strategies, LLC has limited experience with registered funds, and the funds lack operational history, which may delay achieving market liquidity and efficiency.
For high-risk products like single-stock 2x Daily ETFs that rely on swap agreements, these risks are significant. In contrast, BlackRock benefits from decades of experience and established infrastructure in fund administration.
Crypto Expert Report: Follow The Money – Which Presales Are Attracting Crypto Whales in 2026?
Disclaimer: The author does not hold or have a position in any securities discussed in the article. All stock prices were quoted at the time of writing.
The post Corgi Funds Lists 24 More ETFs on Cboe, Eyes 500 Funds in Year One appeared first on Tokenist.

Consensys, the Ethereum infrastructure firm led by co-founder Joseph Lubin and best known for the MetaMask wallet, has pushed its planned US public offering from a late-February 2026 confidential S-1 filing with the SEC to fall 2026 at the earliest.
The postponement comes as crypto markets absorb a sustained February sell-off that has eroded risk appetite across digital assets, pulling Ethereum below levels at which Consensys’s revenue narrative would withstand the granular scrutiny of a public-market roadshow.
This IPO news drop comes as the total crypto market cap climbed +0.8% overnight, to $2.28 trillion, after briefly flirting with a loss of the key $2 trillion support level. ETH USD is trading at $1,915, up +1.5% in the past 24 hours.
Crypto IPO pipeline is frozen. Kraken paused. Grayscale postponed. Consensys delayed. Ledger waiting. Frozen listings don't mean frozen hiring. Every firm paused for markets is still building the legal and compliance stack they need to list. The work doesn't stop when the S-1…
— OxJules (@OxJulesX) July 27, 2026
Consensys IPO Delay Rationale: Macro Conditions, Bitcoin ETF Outflows, and the Case for Waiting on a Better Window
Consensys had engaged JPMorgan and Goldman Sachs to lead the offering, a pairing that signals the firm was positioning itself for a sizeable institutional book rather than a retail-driven debut.
The February crypto market sell-off cut that runway short, driven by a convergence of macroeconomic uncertainty, new tariff concerns, reduced expectations for Federal Reserve interest rate cuts, and significant outflows from Bitcoin ETFs that cascaded into leveraged liquidations across digital assets.
The Bitcoin ETF outflow dynamic was particularly damaging to IPO timing calculus. Sustained redemptions from spot Bitcoin funds serve as a real-time gauge of institutional sentiment, and a negative flow trend makes it structurally harder to argue that crypto-native infrastructure commands a premium multiple in public markets.
A Consensys spokeswoman declined to address the specifics, stating the company’s position: “As a matter of policy, we don’t comment on market speculation.”
The delay buys Consensys measurable runway, time to demonstrate Linea zkEVM adoption metrics, progress on Infura decentralization, and revenue durability before facing public-market pricing pressure from buy-side analysts at the very banks underwriting the deal.
$ETH is still holding above the $1,900 level. Dips are getting bought, which is a good sign. But Ethereum needs to break above a $2,000 zone soon, or the current move could end up being a distribution. pic.twitter.com/yGZnuGgg0X
— Ted (@TedPillows) July 29, 2026
EXPLORE: Crypto Expert Report – What Are the 10 Next Crypto to Explode in 2026?
Consensys Company Snapshot: $7Bn Series D Valuation, MetaMask Scale, and a Four-Product Stack Priced for Ethereum Throughput
Consensys last raised external capital in early 2022, closing a $450M Series D at a $7Bn valuation, which hasn’t been updated since, although secondary transactions suggest an implied value of around $7.25Bn. The time elapsed since this round raises questions about the valuation’s credibility, given the lack of new revenue or user metrics.
MetaMask is central to Consensys’s model, boasting around 100 million monthly active users. It generates revenue mainly through its in-wallet swap and staking features, directly tied to Ethereum’s transaction volume and staking yields. This dependency is a key factor for potential public investors, as ETH price and on-chain activity heavily influence revenue.
In addition to MetaMask, Consensys offers Infura (node infrastructure), Linea (a zkEVM Layer 2 network), and Consensys Staking, all of which further link the company’s fortunes to Ethereum’s performance. This creates a compelling IPO narrative in a bull market but poses risks in a downturn.
Crypto IPO Landscape: BitGo’s -36% Post-Debut, Kraken and Ledger on Hold, and What Fall 2026 Needs to Deliver
SOURCE: Yahoo Finance
BitGo (BTGO) successfully completed the only crypto-native IPO of 2026, raising about $213M in January at $18 per share, but the stock has since dropped around 36% from that price.
This decline has prompted other firms, such as ConsenSys, Kraken, and Ledger, to pause their IPO plans, signaling a broader issue in the crypto market.
Despite initial regulatory clarity, which encouraged these firms to pursue public listings, it hasn’t been enough to offset recent valuation declines.
For the market to recover by fall 2026, Bitcoin and Ethereum need to stabilize, and BitGo’s share price must rebound to indicate that current weaknesses are temporary. Lubin’s decision to delay reflects a more disciplined approach compared to their earlier fundraising days.
DISCOVER: Crypto Expert Report: What is the Best Meme Coin to Buy and Forget Until the Next Bullrun?
The author does not hold or have a position in any securities discussed in the article. All stock prices were quoted at the time of writing.
The post MetaMask Maker Consensys Shelves IPO Plans Until Fall 2026 appeared first on Tokenist.

Bitcoin dropped as much as 3% to $63,020 during Asian trading on July 28, its lowest level in 11 days, as derivatives markets priced in roughly a 1-in-3 chance of a surprise 25-basis-point Fed rate hike at Wednesday’s Federal Open Market Committee meeting.
This is according to Bloomberg reporting by Suvashree Ghosh. Ethereum fell a steeper -3.3% over the same session, reflecting broad-based crypto market selling pressure tied to the recalibrated rate expectations.
The BTC price decline coincided with a structural rupture in ETF flow data: US spot Bitcoin ETFs shed more than $465M over July 23–24, snapping a seven-session inflow streak that had provided a consistent demand floor beneath the market, according to TradingKey.
That reversal removed a critical support pillar at a moment when macro headwinds were already intensifying, leaving the crypto market exposed to the full weight of institutional de-risking ahead of the FOMC decision.
The Fed Rate-Hike Probability Transmission Channel: How Rising Hike Odds Reach Bitcoin’s Order Book
SOURCE: Polymarket
The connection between FOMC rate expectations and Bitcoin’s order book hinges on institutional investors’ opportunity-cost considerations.
When the probability of a Fed rate hike rises, front-end Treasury yields increase, making non-yielding assets like Bitcoin less attractive. For example, the 2-year Treasury yield rose by 15-20 basis points ahead of the July 28 session, driven by stronger US economic data.
Caroline Mauron from Orbit Markets noted that selling during this session was linked to heightened Fed-hike probabilities and macro concerns about AI-related credit risks, with $62,000 identified as a key support level.
Citadel Securities indicated that a surprise 25-basis-point hike could enhance Fed Chair Kevin Warsh’s credibility in fighting inflation, signaling a policy shift rather than just a minor adjustment.
Additionally, thinner liquidity during the Asian trading session intensified price movements, pushing Bitcoin toward $63,200. The 90-day correlation between Bitcoin and the Nasdaq 100 has risen to the 0.4-0.5 range, while its correlation with real yields has become more negative.
This dynamic means a hawkish Fed not only impacts sentiment but also tightens financial conditions for institutional investors, with Bitcoin ETF redemptions being a direct consequence of this tightening.
DISCOVER: Crypto Expert Report – What Are the 10 Next Crypto to Explode in 2026?
ETF Outflow Mechanics: The $465M Two-Day Redemption and What the Cross-Fund Alignment Reveals
SOURCE: CoinGlass
US spot Bitcoin ETFs experienced net outflows exceeding $465M on July 23–24, breaking a seven-session inflow streak. IBIT was identified as a primary contributor to these outflows.
The simultaneous redemptions suggested that institutional investors were reacting to a common macroeconomic event, specifically the repricing of Fed rate-hike odds ahead of the July 29 FOMC decision.
This cooling institutional activity indicated a temporary exhaustion of the recent accumulation phase, with spot Bitcoin ETFs now accounting for 20–30% of US Bitcoin spot trading volume on peak days.
Additionally, around 60,000 BTC were transferred to exchanges by short-term holders during this period, further intensifying selling pressure and leading to a technical breakdown in the market.
Macro Backdrop and Institutional Context: How Elevated Rate-Hike Odds Are Channeling Capital Away From Spot Bitcoin
$BTC failed to hold the $65,000 level. This happened as the Senate put the Clarity Act on hold. Now, the next key support level for Bitcoin is $62,000-$65,000. This should hold, or else BTC will end up giving all the gains. pic.twitter.com/CVFjOqdY4Q
— Ted (@TedPillows) July 28, 2026
The July 28 session was influenced by Bitcoin’s trading range of $60,000–$70,000 over the prior month, with 30-day realized volatility dropping to the mid-teens.
This volatility compression and stalled upside momentum made holding Bitcoin through an FOMC meeting risky for institutional investors, given the potential for a disorderly break below $62,000 if rates were increased.
According to Mudrex’s Akshat Siddhant, the crypto market experienced bearish sentiment due to weaker US labor data and concerns that AI-sector spending is impacting risk appetite.
The strengthening US dollar, which is inversely correlated with Bitcoin’s value, added pressure, as rising real yields diminished the appeal of non-sovereign assets. The total crypto market cap fell about 1.6% to $2.26 trillion, indicating a broader risk-off trend.
The inflation backdrop raised Fed rate-hike odds to one-in-three, influenced by persistent above-target CPI readings. This situation has undermined the macro tailwind that previously supported Bitcoin’s rise.
EXPLORE: Crypto Expert Report – Which Presales Are Attracting Crypto Whales in 2026?
Disclaimer: The author does not hold or have a position in any securities discussed in the article. All stock prices were quoted at the time of writing.
The post Fed Rate Hike Odds Hit 1-in-3: What Next for BTC? appeared first on Tokenist.

Goldman Sachs CEO David Solomon told Politico on July 23, 2026, that he supports advancing the revised CLARITY Act, describing the crypto market-structure legislation as creating “a level playing field to enhance market stability”.
This is a direct public contradiction of JPMorgan CEO Jamie Dimon, who warned in May that the bill’s stablecoin yield provisions will “eventually blow up.”
The confrontation is not merely a personality clash between two Wall Street titans: it is a structural fight mapped precisely onto diverging balance-sheet models. Solomon leads an investment bank whose fee revenue rises with institutional crypto trading volume and capital markets activity; Dimon leads a deposit-funded commercial lender whose cost of funding compresses if yield-bearing stablecoins compete directly for retail balances.
Republicans released the revised CLARITY Act draft on July 23, triggering the split within hours. The bill represents the most advanced attempt yet at a unified US crypto market-structure framework, building on the House-passed FIT21 bill, which stalled in the Senate in 2024, and on years of failed Lummis-Gillibrand negotiations.
The Stablecoin Yield Provision: What the CLARITY Act Permits and Why Deposit-Funded Banks Frame It as Unregulated Deposit-Taking
BREAKING: GOLDMAN SACHS CEO SUPPORTS THE CLARITY ACT APPROVAL "I’m very supportive of moving the Clarity Act forward, so we can get some market structure in place." – David Solomon, Goldman Sachs CEO -POLITICO pic.twitter.com/L49yPG2WvD
— Bitcoin Archive (@BitcoinArchive) July 23, 2026
The CLARITY Act debate centers on language that would allow crypto platforms to offer yield on dollar-pegged stablecoins, a point that banking trade groups, including the American Bankers Association, have opposed for nearly a year.
The current draft allows such rewards, subject to capped payments and additional disclosure requirements. JPMorgan’s Jamie Dimon has expressed concerns, stating the bill permits crypto firms to pay interest on deposits without the necessary banking regulations, which he believes could lead to major issues.
Additionally, the bill clarifies the regulatory split between the SEC and the CFTC, designating certain digital assets as commodities under CFTC oversight, a move advocates like Solomon argue is vital for market development.
Solomon’s Endorsement and the Investment-Bank Business Model: Why Goldman Sachs Breaks With Wall Street on Regulation
Solomon’s support for the CLARITY Act has broken the unified stance of large banks, reflecting the Goldman Sachs crypto revenue model.
Unlike JPMorgan, Goldman relies less on retail deposits and more on fees from market-making, underwriting, and digital asset initiatives. Regulatory clarity in crypto could expand Goldman’s market reach.
This divergence is notable, as both banks have previously collaborated on blockchain projects, including tokenized repo initiatives. Solomon’s stance indicates that differences in business models regarding retail stablecoins overshadow their institutional cooperation.
He acknowledged the legislation’s imperfections but emphasized the importance of progress over regulatory uncertainty, aligning with Coinbase CEO Brian Armstrong’s view of the bill as a bipartisan compromise, even as Senate Democrats contested this characterization shortly afterward.
Democratic Opposition and the 60-Vote Gap: Why Gillibrand’s Absence From the Dissent Statement Is the Number to Watch
SOURCE: TradingView
Seven Senate Democrats, including Angela Alsobrooks, Cory Booker, and Elizabeth Warren, criticized a revised Republican bill as inadequate on ethics and consumer protection in a joint statement.
Booker emphasized the need for bipartisan support, while Warren declared the bill “dead on arrival,” highlighting its failure to prevent conflicts of interest related to Trump and crypto. Key Democratic demands include state attorneys general sharing enforcement authority, which Republicans oppose.
Notably absent from the dissent is Senator Kirsten Gillibrand, a key negotiator, signaling that a 60-vote coalition could still be possible. Meanwhile, Republicans like Tim Scott contend the bill protects Americans and national security.
A Senate floor vote is expected soon to resolve the ethics dispute and secure sufficient Democratic backing before the bill moves to the House. Gillibrand’s upcoming statement will be crucial in assessing the bill’s likelihood of passage.
Crypto Expert Report: What Are the 10 Next Crypto to Explode in 2026?
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