Crypto Breaking

Visa has teamed up with Dunamu, the parent company of South Korean crypto exchange Upbit, to explore how stablecoins could be used for payments, cross-border remittances and settlement—while also testing how artificial intelligence could enable more automated, commerce-oriented transactions.
In a partnership announcement issued Friday, Dunamu said the two firms will combine Dunamu’s digital asset technology with Visa’s global payments network to develop services for major markets, spanning payment flows, remittance rails, and settlement mechanisms.
Key takeaways
Visa and Dunamu are collaborating on stablecoin-based payment, remittance, and settlement services.
The partnership also targets “agentic commerce,” where AI agents may initiate shopping and payment actions on a user’s behalf.
Dunamu said it is assessing multiple stablecoin projects rather than committing to a single token.
The teams are considering payment models that could involve Open Standard’s proposed Open USD (OUSD), though the partnership isn’t limited to it.
Why Visa and Dunamu’s stablecoin push matters
Stablecoins have increasingly been positioned as a way to move value more efficiently across borders, particularly for remittances and settlement use cases. Visa’s involvement signals interest from a major legacy payments network in integrating digital-asset rails into broader payment infrastructure, rather than treating stablecoins as a standalone experiment.
For Dunamu, the partnership also represents an opportunity to connect its digital asset capabilities to a global network designed to reach consumers, merchants, and financial institutions at scale. The combination of Dunamu’s expertise and Visa’s established payments footprint is intended to support new business models across payment and settlement workflows.
Open USD is on the table, but not the only option
A key element of the announcement is that Dunamu and Visa are considering stablecoin structures tied to Open Standard’s proposed Open USD (OUSD), a dollar-backed stablecoin initiative unveiled in June.
According to Open Standard, more than 140 companies have signed up to use OUSD, with Open Standard citing Visa, Mastercard, Stripe, Coinbase and BlackRock among the listed participants. However, Dunamu’s Friday statement clarified that OUSD is only one of several stablecoin projects under review for the partnership. The company said it has not prioritized a specific stablecoin for the initiative.
This matters because it suggests the collaboration is still in a discovery and design phase—potentially focused on interoperability, settlement performance, regulatory fit, and integration pathways—rather than an immediate move toward a single token or issuance plan.
Upbit’s operator clarifies OUSD’s role
The partnership also lands amid ongoing scrutiny around who is actually involved in OUSD issuance. In July, Upbit said it was not participating in the issuance of OUSD after Dunamu, Upbit’s operator, was named among the businesses connected to the initiative.
That earlier clarification highlights a distinction that investors and market participants often look for in stablecoin partnerships: engagement on pilots, integrations, or infrastructure planning can differ significantly from taking part in issuance. With Dunamu now describing a broader evaluation of multiple stablecoin options, readers will likely watch for additional detail on whether the firms will narrow down to one model as testing progresses.
Agentic commerce: AI agents making payments
Beyond stablecoins, Dunamu and Visa said they will also explore “agentic commerce.” In this concept, AI agents can locate products and services, then perform purchasing and payments on a user’s behalf.
The announcement indicates the companies will look at how AI could be connected to stablecoin-based payment and settlement infrastructure—effectively combining automated decision-making with digital-asset rails. If executed, this could change how consumers experience online transactions by shifting certain steps of shopping and checkout into automated workflows.
Still, practical outcomes remain unclear. The partnership signals exploration of how AI and stablecoin payments might work together, but it does not outline specific pilots, product designs, or compliance frameworks for agent-driven transactions.
What to watch next
Visa and Dunamu’s collaboration raises expectations around stablecoin adoption at the payment-network level, but the next visible milestones will likely determine whether the partnership becomes a targeted pilot with a defined token and settlement model—or remains a broad feasibility effort across multiple stablecoins and AI-driven commerce scenarios.
This article was originally published as Visa Teams With Upbit’s Parent to Expand Stablecoin Payments and AI Commerce on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

The Sandbox says it will directly reimburse eligible holders of bridged SAND after an Aug. 21 exploit that drained Ethereum-based tokens from a bridge vault. The incident, which targeted bridge infrastructure connected to Base and BNB Smart Chain, resulted in the loss of 14.744 SAND—valued at roughly $700,000 at the time—prompting the project to outline a structured repayment plan.
In a post-mortem shared Thursday, The Sandbox confirmed that compensation will be offered on a 1:1 basis for users who held bridged SAND on Base or BNB Smart Chain before the attack. The company says repayments will come from its treasury without minting new tokens, and that affected balances will be distributed through exchanges for a majority of eligible users.
Key takeaways
The Sandbox will repay eligible holders of bridged SAND from Base and BNB Smart Chain at a 1:1 ratio using Ethereum-based SAND.
The repayments are scheduled to begin within two weeks, with a claim window that extends for two additional weeks.
More than 72% of eligible balances are held on centralized exchanges, which will reportedly distribute compensation directly to affected customers.
According to The Sandbox, about 14.7 million SAND were drained—roughly 0.5% of the token’s 3 billion maximum supply—while the minted unbacked tokens were isolated.
The compromised bridge contracts will be retired permanently, with future bridges expected to use newly deployed contracts.
Repayment plan for bridged SAND holders
The Sandbox’s reimbursement effort is aimed at users who held SAND that had been bridged onto Base or BNB Smart Chain prior to the Aug. 21 bridge exploit. The company states that claimants will receive an equal amount of Ethereum-based SAND (rather than a token of a different chain), using funds drawn from the project’s treasury. The project also emphasized that it will not mint new tokens to fund repayments.
Based on the company’s explanation, the claims process is expected to open within two weeks and then stay open for another two weeks. That gives eligible users a defined window to verify ownership and submit a claim where needed, while exchange customers may be handled automatically depending on the platform.
Where the losses came from, and what the attacker did
The Sandbox said the attacker exploited a configuration flaw in SAND’s bridge contracts on Base and BNB Chain. In the company’s account, the issue allowed the attacker to gain control over bridge message verification—ultimately enabling minting of unbacked tokens tied to the exploited bridge process.
The project confirmed that roughly 14.744 million SAND were drained from the Ethereum vault connected to the bridge. It also said that the compromised bridge activity led to the creation of more than 339 trillion unbacked SAND on the two targeted networks. However, The Sandbox added that those tokens have been isolated and cannot be bridged or redeemed.
Importantly for holders, The Sandbox stated that SAND on Ethereum and Polygon was not affected by the exploit. That means the core token supply on those networks did not face the same immediate impact as the bridged assets tied to Base and BNB Chain.
Isolation of unbacked tokens and retirement of compromised contracts
Beyond repayment, the company’s post-mortem focuses on containment and prevention. The Sandbox said that the bridge contracts used in the compromised configuration will be permanently retired. Any subsequent bridging between networks would be handled through newly deployed contracts intended to eliminate the exploited verification weakness.
The project’s description suggests that while the attacker succeeded in minting unbacked tokens during the bridge operation, The Sandbox designed—or was able to enforce—limits that prevented those tokens from moving into a redeemable or bridged state. For investors and traders, this distinction matters: it reduces the likelihood of a broader token supply shock across all supported networks, even if the event generated a large quantity of unbacked tokens during the attack.
Exchanges to distribute most compensation
The Sandbox also provided operational details about how compensation will reach users. According to the company, more than 72% of eligible balances are held on centralized exchanges. For those customers, the exchanges are expected to distribute compensation directly.
That approach may lower friction for most affected users by reducing the need for individual claims. Still, the project’s stated plan indicates that a claim process will exist—meaning users without exchange custody (or users not covered by exchange distributions) may need to apply during the opening window.
Token trading and market reaction
At the time of publication, SAND was trading around $0.04, according to CoinGecko, down about 10.4% over the previous seven days. The price drop reflects broader market conditions and how quickly bridge-security headlines can spill into sentiment, even when the project states that Ethereum and Polygon holdings were unaffected.
For market participants, The Sandbox’s commitment to 1:1 reimbursement and the claim timeline may help clarify risks for holders of bridged assets. However, the longer-term confidence impact will likely hinge on how smoothly the claims process runs, and whether monitoring of any remaining bridge-related surfaces finds no further issues.
Readers should watch the start of the claims window and follow how exchanges handle reimbursements for customers holding bridged SAND. Equally important will be The Sandbox’s progress deploying replacement bridge contracts and demonstrating that the retired configurations can’t be re-exploited through new bridge paths or integrations.
This article was originally published as The Sandbox Offers 1:1 Refund After $700K Bridge Exploit on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

The Sandbox has moved to unwind losses from a bridge exploit that hit SAND holders using the Base and BNB Smart Chain networks. In a post-mortem published this week, the blockchain gaming platform said it will repay eligible users 1:1 in Ethereum-based SAND after an Aug. 21 attack drained 14.744 SAND—valued at roughly $700,000 at the time—from an Ethereum vault.
The project emphasized that compensation will be funded from The Sandbox treasury, with no new SAND tokens minted. The reimbursement process is expected to begin within two weeks and remain open for an additional two-week window, while two centralized exchanges are set to distribute funds directly to customers who hold eligible bridged balances.
Key takeaways
The Sandbox will compensate eligible SAND holders who had bridged tokens on Base or BNB Smart Chain with an equal amount of Ethereum-based SAND.
Payments will come from The Sandbox treasury, explicitly without minting new tokens.
The claims window is expected to open within two weeks and run for two weeks after that.
The attacker’s method involved a configuration flaw that enabled control of bridge message verification, allowing minting of unbacked tokens.
Compromised bridge contracts will be permanently retired; future bridges will use newly deployed contracts.
Bridge exploit triggers treasury-backed reimbursement
According to The Sandbox’s post-mortem, the Aug. 21 incident stemmed from an exploit involving the SAND bridge infrastructure connected to Base and BNB Smart Chain. The company said the attacker drained 14.744 SAND from an Ethereum vault, which at the time was worth about $700,000.
To make affected users whole, The Sandbox stated it will repay users who “legitimately held bridged SAND” on those networks with a 1:1 amount of SAND on Ethereum. Compensation will be sourced from the project’s treasury, and the company said it will not mint new tokens to fund the reimbursement.
For operational execution, The Sandbox indicated that the claims process should start within two weeks and continue for two more weeks. It also said two centralized exchanges hold more than 72% of eligible balances and will distribute compensation directly to their customers, reducing the need for all users to submit individual claims.
What the attacker did—and what was affected
The post-mortem describes the root cause as a configuration flaw in SAND’s bridge-related contracts on Base and BNB Chain. The issue allowed the attacker to become the sole verifier of incoming bridge messages—an abnormal condition that enabled the minting of unbacked tokens.
The Sandbox confirmed that the drained amount was about 14.7 million SAND tokens. While that figure is large in absolute terms, the company noted it represented approximately 0.5% of SAND’s 3 billion maximum supply.
The impact was not uniform across all networks connected to SAND. Although the exploit resulted in more than 339 trillion unbacked SAND being minted on the two impacted networks, The Sandbox said those tokens have been isolated. In its description, the unbacked tokens cannot be bridged or redeemed, limiting the practical risk of continued circulation.
Separately, the company said SAND on Ethereum and Polygon was unaffected.
Compromised contracts retired; future bridges to use new deployments
Beyond compensating users, The Sandbox said it would address the technical vulnerability at the source. The compromised bridge contracts will be permanently retired, according to the post-mortem.
The company added that any future bridges from Base or BNB Chain would rely on newly deployed contract versions. That change matters for users because it reduces the chance that attackers can reuse the same misconfiguration or interface behavior to repeat similar minting and drainage patterns.
At the same time, the arrangement leaves an important question for holders: how quickly and transparently new bridge contract deployments can be audited, monitored, and integrated across exchanges and user workflows. While the immediate risk of redeemable tokens appears constrained by The Sandbox’s statement that unbacked tokens are isolated, bridge security typically depends on ongoing contract monitoring and operational checks—especially when liquidity and user balances are concentrated across centralized platforms.
Market reaction and what holders should monitor
At the time The Sandbox published the update, SAND was trading at roughly $0.04, down 10.4% over the prior seven days, according to CoinGecko.
Token-price moves around major exploits can reflect broader investor concerns—ranging from temporary liquidity issues to general trust in bridge infrastructure—rather than only the direct magnitude of drained funds. In this case, the project’s plan to reimburse eligible holders 1:1 using treasury funds is designed to blunt that uncertainty, particularly for users who bridged via Base or BNB Smart Chain.
Looking ahead, the key variables for impacted SAND holders will be whether eligible balances are identified accurately by the exchanges and the project, how smoothly the claims process runs for the remaining users, and whether the newly deployed bridge contracts are integrated without introducing new failure modes. The coming weeks should also clarify whether any additional operational or technical findings emerge after the initial post-mortem.
For now, users should watch the start of the reimbursement window and follow The Sandbox’s guidance on eligibility, while monitoring any updates on the newly deployed bridge contract approach—because that is where long-term bridge safety will be tested after an exploit like this.
This article was originally published as The Sandbox Commits to 1:1 Refund After $700K Bridge Exploit on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

The UK government has proposed expanding the Bank of England’s remit to explicitly include support for innovation in digital payments, with stablecoin-based payment systems in scope. The Treasury said the Bank would receive a secondary objective focused on improving payment innovation—while keeping financial stability as its top priority.
Announcing the change this week, HM Treasury said the central bank’s new innovation goal would cover payment systems that settle using digital settlement assets, including stablecoins. The government also signaled that the measure will be pursued through legislative amendments, with further scrutiny expected in the House of Lords in early September.
Key takeaways
The Bank of England would gain a secondary mandate to support innovation in payment systems using digital settlement assets such as stablecoins.
Financial stability remains the primary objective; the innovation goal is intended to “support,” not override, stability considerations.
The Bank would report annually to Parliament on its progress toward the payments innovation objective, potentially increasing public scrutiny.
The proposal is expected to be implemented through amendments to the Financial Services and Markets Bill, with House of Lords debate scheduled for Sept. 7 and 9.
Industry focus remains on how the Bank operationalizes stablecoin requirements—particularly reserve and backing rules for systemic issuers.
How the Bank of England’s mandate would change
HM Treasury said the Bank of England’s new responsibility would extend an approach the central bank already uses for regulating central counterparties (CCPs) and central securities depositories (CSDs), which play key roles in how financial assets are cleared, held, and settled.
Under the proposal, the Bank would provide an annual report to Parliament detailing its progress toward the innovation objective for payments and emerging forms of digital money. Officials framed the change around the potential of newer technologies—including tokenisation and distributed ledger technology (DLT)—to reshape aspects of financial markets.
City Minister Lucy Rigby said developments in digital payments technology, including tokenisation and DLT, have the potential to transform financial markets globally.
The Treasury expects to deliver the objective via amendments to the Financial Services and Markets Bill. That bill is scheduled for further debate in the House of Lords on Sept. 7 and 9, placing the timing of any final implementation squarely in the coming legislative window.
Industry concerns center on implementation details
While the innovation objective would be secondary to financial stability, its practical impact could depend on how the Bank structures its annual reporting and enforcement priorities. Maksym Sakharov, co-founder and CEO of on-chain banking infrastructure provider WeFi, told Cointelegraph that the mandate’s wording matters less than how the Bank chooses to execute it.
Sakharov emphasized that the objective is designed not to “override nothing,” but the annual publication requirement could still intensify public and market attention on how stablecoin rules are evolving—especially those finalized by the central bank in June.
One element highlighted by Sakharov concerns systemic stablecoin issuers’ reserve composition. He pointed to requirements stating that at least 30% of backing assets must be held in non-interest-bearing deposits at the Bank of England. In his view, “the reserve split is the first thing to fix,” because it may influence whether a stablecoin issuer can sustain its business model.
His comment underlines a broader issue: innovation mandates may encourage experimentation, but firms’ real-world viability often hinges on balance-sheet mechanics and compliance costs—particularly where reserve rules and custody arrangements are involved.
As readers look for clues about what comes next, the key question is how the Bank will translate an innovation goal into measurable outcomes without loosening or changing the core stability framework. Annual parliamentary reporting will likely become one of the primary channels through which that tension is expressed.
UK stablecoin momentum builds alongside policy and pilots
The BoE innovation mandate is the latest development in a UK push to work through stablecoin use cases—from regulation to experimentation—while aligning with international counterparts. The announcement follows several steps that indicate stablecoins are increasingly being treated as a mainstream component of digital payments planning rather than a peripheral technology.
In August, participants in the Bank of England’s Digital Pound Lab began testing whether a stablecoin could interoperate with a simulated digital British pound for cross-border trade payments. The experimental platform, HM Treasury and related BoE materials indicate, does not involve real customers or funds; its purpose is to evaluate mechanics and interoperability rather than to launch a live commercial product.
Earlier, in mid-July, the UK and US published a joint statement on stablecoins. The governments said they “intend to enable the use of stablecoins in cross-border finance” and called for greater alignment of regulatory frameworks. The direction of travel is therefore not only domestic: it also aims to coordinate approaches so stablecoin-related payments can operate across jurisdictions with fewer friction points.
More broadly, the UK has also adjusted its stablecoin framework over time. Cointelegraph previously reported that the Bank of England dropped earlier plans to cap individual stablecoin holdings at 20,000 British pounds and business holdings at 10 million pounds. Instead, the approach shifted toward a temporary issuance cap of 40 billion British pounds (about $52.9 billion) for each systemic stablecoin.
That move signals that regulators are searching for a structure that both allows usage and limits systemic risk—an approach that will likely shape how the new innovation mandate is interpreted. If innovation is the goal, then limits on issuance, reserve backing, and eligibility for systemic designation become the practical tools used to manage risk.
What to watch as legislators and the BoE move forward
The next phase will largely be determined by how amendments to the Financial Services and Markets Bill are drafted and whether they preserve the clear hierarchy placing financial stability above payment innovation. Investors and builders should also watch for the first annual reporting cycle: it could reveal what the Bank of England considers “innovation progress” in stablecoin-related payments, and how far the regulator will go in encouraging experimentation while maintaining its stability standards.
This article was originally published as Bank of England Prepares New Innovation Rules for Stablecoins on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Charles Schwab says it plans to broaden the set of cryptocurrencies offered on its direct crypto trading platform by adding Solana (SOL), Avalanche (AVAX) and Chainlink (LINK) in the coming months. The update would extend Schwab Crypto’s initial rollout, which focused on Bitcoin (BTC) and Ether (ETH).
Schwab Crypto began bringing direct retail crypto trading to customers in May, with access via Schwab’s website, mobile app and thinkorswim. For now, Schwab has not provided additional details on which other digital assets it may consider beyond the three newly announced tokens, nor has it shared a specific schedule for each addition.
Key takeaways
Schwab Crypto will add Solana (SOL), Avalanche (AVAX) and Chainlink (LINK) to its direct trading offering in the coming months.
The expansion builds on Schwab Crypto’s May start, which initially supported direct trading in Bitcoin (BTC) and Ether (ETH).
Schwab charges 75 basis points (0.75%) of the trade’s dollar value for each crypto transaction.
Schwab Crypto is available in all US states except New York and Louisiana, and it is not offered in US territories or internationally.
Schwab Crypto grows beyond BTC and ETH
Schwab’s move signals a more multi-asset approach to institutional-style crypto access for retail investors. Schwab Crypto started rolling out direct crypto trading to retail clients in May, pairing crypto positions with traditional investment capabilities through Schwab’s existing platforms.
While Schwab has outlined the addition of SOL, AVAX and LINK, it has kept its longer-term roadmap unclear. The company did not specify what other tokens are under consideration or provide a detailed timeline beyond the three assets it has named.
For market participants, the practical question is how quickly Schwab can operationalize additional assets inside a regulated brokerage framework—especially as demand and product expectations evolve among retail investors used to multi-asset trading interfaces.
Pricing and availability for US customers
Schwab Crypto uses a straightforward fee model: a charge of 75 basis points, or 0.75%, on the dollar value of each crypto trade. The service is offered through Charles Schwab Premier Bank, with Charles Schwab & Co. handling certain operational functions on the bank’s behalf.
Geographic restrictions remain part of the offering. Schwab Crypto is available in all US states except New York and Louisiana, and it is not available in US territories or internationally. That footprint matters for traders and advisers evaluating whether Schwab’s expansion can meaningfully broaden access in the near term, particularly in states where other venues may dominate.
Broader push into new trading products
Schwab’s crypto expansion comes as the firm pursues other trading-product initiatives outside of digital assets. In June, The Wall Street Journal reported that Schwab plans to offer prediction contracts tied to the S&P 500 index in partnership with Cboe Global Markets. Those contracts would let clients bet whether the S&P 500 closes above or below a specified level, according to the report, and were described as expected to launch within months.
Unlike some prediction-market platforms that allow a broader set of event-based outcomes, Schwab’s planned offering—based on the reporting—would begin with index outcomes rather than opening immediately to a wider menu of contracts.
Taken together, Schwab’s actions suggest the brokerage is actively expanding its product suite for retail customers while staying inside tightly defined, exchange-partnered or brokerage-regulated structures. That approach can be relevant to how investors think about legitimacy, operational safeguards and compliance—areas that heavily influence adoption for both crypto trading and adjacent market products.
What Schwab’s scale signals for adoption
Schwab’s capacity to add assets may also be influenced by the size of its customer base. As of July 31, Schwab reported holding $13.04 trillion in client assets across 39.9 million active brokerage accounts. In results reported for the second quarter, Schwab also said it delivered record net revenue of $7.1 billion and net income of $2.8 billion.
While those figures are not direct measures of crypto activity, they provide context for how quickly a brokerage can iterate across product lines once a new offering clears operational hurdles. If Schwab Crypto’s early rollout meets internal performance thresholds, expanding from two benchmark tokens to a broader set of networks and use cases could deepen engagement from investors looking for exposure beyond BTC and ETH.
At the same time, Schwab’s decision to announce three specific additions—without committing to a detailed schedule for further tokens—highlights the balancing act between customer demand and the pace of compliance, custody, trading infrastructure and liquidity management.
What to watch next
Investors should keep an eye on when SOL, AVAX and LINK become available in Schwab’s direct trading menus, and whether Schwab provides additional milestones for any further digital-asset expansion. The next signals will likely come from Schwab’s own platform updates and any follow-on guidance that clarifies timing and the scope of future token listings.
This article was originally published as Charles Schwab Expands Crypto Coverage With Solana, Avalanche & Chainlink on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Mirae Asset—one of South Korea’s largest financial groups—wants to scale its crypto footprint into a major digital-asset business after taking control of the exchange formerly known as Korbit. According to The Korea Times, the group is aiming to build a 150 trillion won ($109 billion) digital asset platform centered on Digital X, the renamed exchange.
The reported roadmap is broad: Digital X would operate across cryptocurrencies, stablecoins, real-world assets (RWAs) and security token offerings, including plans to tokenize physical assets such as gold, silver and electricity. The strategy follows Mirae Asset Consulting’s acquisition of a controlling stake in Korbit earlier this year, positioning a traditional finance group as a direct operator of a domestic crypto exchange.
Key takeaways
Mirae Asset plans a 150 trillion won ($109 billion) digital asset business built around Digital X, per The Korea Times.
Digital X’s intended scope spans crypto trading, stablecoins, RWAs and security token offerings, including tokenization of physical assets like gold and silver.
The expansion comes after Mirae Asset Consulting bought a 97.15% stake in Korbit in July and the exchange was rebranded as Digital X.
Digital X started waiving trading fees for won-denominated assets on Monday, with the zero-fee period scheduled to run through Aug. 24, 2027.
Despite Korbit’s long history (founded in 2013), it represented only 0.5% of South Korea’s crypto trading market in 2025, according to the Fair Trade Commission.
Mirae Asset’s digital-asset ambition and why it matters
The reported plan signals a continued shift in South Korea toward integrating digital assets into the broader financial-services ecosystem. For investors and market participants, the key point is not simply that a financial group owns an exchange—it’s the stated intention to move beyond spot trading into tokenization and regulated-style asset distribution.
By setting a large business target for “Mirae Asset 3.0,” Mirae Asset is effectively framing Digital X as a growth engine rather than a passive investment. According to The Korea Times, Mirae Asset founder and chairman Park Hyeon-joo discussed the direction at a Digital X employee event in Seoul on Wednesday, describing an initial goal of making Digital X a core pillar of “Mirae Asset 3.0.”
That positioning matters because tokenization initiatives—especially those involving real-world assets—depend on partnerships, custody and compliance frameworks, as well as market demand for new tokenized products. Whether Digital X can translate these ambitions into products that attract liquidity will likely determine how meaningful the exchange becomes within the domestic digital-asset value chain.
From Korbit to Digital X: control, rebrand, and market gap
Mirae Asset’s push is tied directly to its ownership of the exchange. The Korea Times reports that Mirae Asset Consulting completed a takeover of Korbit with a 97.15% stake in July, after accumulating a total cost of 141.4 billion won. The acquisition and subsequent rebrand are described as a notable first in South Korea: an affiliate of a financial group gaining control of a domestic crypto exchange.
Digital X began operating under the Korbit name’s successor brand after the control change. While Korbit has been active since 2013 and was described by The Korea Times as South Korea’s first cryptocurrency exchange, its scale has not matched its seniority. The Fair Trade Commission data cited by the same outlet indicated Korbit accounted for just 0.5% of South Korea’s crypto trading market in 2025.
In other words, the acquisition came with a built-in strategic challenge: Digital X will need to grow a relatively small footprint into a larger platform capable of supporting both trading activity and longer-horizon tokenization products.
Fee waivers and the push to win liquidity
One of the most immediate actions taken after the rebrand concerns trading costs. As of Monday, Digital X began waiving trading fees across all won-denominated assets, with the zero-fee initiative scheduled to run through Aug. 24, 2027. The exchange’s fee policy page lists the promotion and its coverage, including the won-denominated trading pairs the offer applies to (Digital X/Korbit fee information).
For traders, lower trading fees can improve effective returns—particularly for active users and market-makers who are sensitive to cost-per-trade. For the exchange, sustained fee reductions are often used to attract volume, increase order flow and improve overall liquidity, which can also help support new product launches.
However, fee waivers also shift business risk onto the platform: a longer period of reduced fees means revenue depends more heavily on alternative income streams (such as custody, token issuance-related services, or broader financial product distribution) that align with the company’s stated RWA and security token plans.
What’s planned beyond spot trading
According to The Korea Times, Digital X’s planned product direction includes crypto, stablecoins, RWAs and security token offerings—an expansion that aims to bring tokenized assets into a format that can be traded, held and potentially distributed like digital financial instruments.
The article’s examples of tokenization targets—physical assets such as gold, silver and electricity—highlight the core appeal of RWAs: the possibility of converting traditionally illiquid assets into blockchain-based representations that may be easier to transfer. At the same time, RWAs require robust governance around asset backing, redemption mechanics and compliance with securities-related rules where applicable.
While the plan is ambitious, the path from concept to live products typically depends on regulatory clarity, the ability to secure counterparties and the market’s appetite for new tokenized instruments. Readers should watch whether Digital X pairs its fee-driven liquidity push with concrete launches in stablecoins, RWAs and security token offerings, rather than limiting expansion to trading.
What to monitor next is how Digital X turns its ownership and fee incentives into sustained user growth and whether it can progress from a multi-category roadmap into specific tokenized asset products—particularly those tied to gold, silver and electricity—under South Korea’s evolving regulatory framework.
This article was originally published as Mirae Asset outlines crypto, stablecoin, and tokenization roadmap for Digital X on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Public Citizen, a US consumer advocacy nonprofit, has alleged that investors tied to Donald Trump’s digital-asset activities since 2022 have been left “at least an estimated $4.7 billion underwater,” citing a mix of governance tokens, NFTs, and memecoin-related transactions.
The group’s assessment focuses on several Trump-linked crypto efforts, arguing that the scale of investor losses—particularly connected to the TRUMP memecoin—outweighs the reported earnings that flowed to Trump’s side through licensing, royalties, and sales tied to World Liberty Financial and other crypto ventures. White House officials did not immediately respond to Cointelegraph’s request for comment.
Key takeaways
Public Citizen estimates Trump-related crypto ventures have left investors “at least” $4.7 billion in losses since 2022.
About $3.2 billion of the estimated losses are attributed to investors in the TRUMP memecoin.
Public Citizen says buyers of World Liberty Financial’s USD1 stablecoin “haven’t suffered major losses.”
The nonprofit argues that a forthcoming US cryptocurrency market structure bill should include ethics requirements such as presidential and family divestment.
Public Citizen’s $4.7 billion underwater estimate
In a report shared with the public, Public Citizen says investors lost billions of dollars through multiple Trump family digital asset undertakings, including the World Liberty Financial governance token, NFT trading cards launched in 2022, and two other revenue-linked areas: the TRUMP memecoin and Trump Media’s digital asset treasury.
According to Public Citizen, the largest share of the losses came from TRUMP memecoin investors, estimated at $3.2 billion. The organization frames the memecoin outcome as a transfer of wealth rather than a simple wipeout—saying the losses amounted to “wealth transferred to a small group of early buyers rather than money that simply vanished.”
Public Citizen also highlights that, within its assessment, stablecoin holders appear to have experienced less severe outcomes. The group states that buyers of World Liberty Financial’s USD1 stablecoin have “haven’t suffered major losses,” an observation that matters because stablecoins are often marketed and structured with different risk expectations than volatile tokens.
How much Trump is reported to have earned
Public Citizen’s filing argues that while investors are estimated to have absorbed substantial losses, Trump also generated revenue from parts of the crypto ecosystem. The nonprofit says Trump earned $7.2 million from NFT licensing fees and royalties.
It further claims earnings tied to World Liberty include more than $600 million from World Liberty token sales and revenue from selling an equity stake, alongside $635 million in licensing fees for the memecoin and $197 million from capital contributions to World Liberty. The nonprofit also notes that these figures do not fully capture the value of Trump-held stakes in companies and ventures that remain under his control.
Some of the numbers referenced by Public Citizen were also said to be included in Trump’s 2025 disclosures, which Cointelegraph coverage previously noted as indicating $1.4 billion in earnings linked to crypto.
White House response and recurring conflict-of-interest questions
Cointelegraph reached out to the White House for comment regarding Public Citizen’s claims but did not receive an immediate response. The report references a White House spokesperson, Anna Kelly, who has repeatedly said that there are “no conflicts of interest” in connection with Trump’s crypto investments and related activity.
Public Citizen’s central contention is that investor outcomes and official policy should be considered together. The organization argues that it is not possible to cleanly separate the president’s policy choices from a personal portfolio that includes exposure to projects operating in the same market.
Ethics push as the CLARITY Act nears
Public Citizen’s report is also tied to a broader legislative fight over how US crypto markets should be structured. The group renewed calls for ethics provisions in the Digital Asset Market Clarity (CLARITY) Act, describing the proposal as incomplete without rules addressing potential conflicts involving the president and his family.
Specifically, Public Citizen argues that any bill shaping the industry should require a US president and their family to divest from projects in the sector, stating that “the president’s policy choices and personal portfolio cannot be separated.”
The nonprofit’s ethics stance comes as Trump has also been publicly active on crypto policy. Cointelegraph previously reported that Trump met with crypto company executives last week, urging a “fair version” of the CLARITY Act and saying it should pass once the Senate returns to session next month.
In terms of procedure, the bill is scheduled for a cloture vote on Sept. 15. If it advances, it would require at least 60 senators to vote in favor to move forward—an important threshold that determines whether the measure can proceed through the Senate agenda.
What to watch next
As the CLARITY Act approaches its cloture vote, the key question for market participants is whether ethics amendments—such as divestment requirements for the president and family—gain traction alongside the bill’s core regulatory changes, and how lawmakers reconcile the political push for industry “clarity” with ongoing conflict-of-interest concerns raised by Public Citizen.
This article was originally published as Public Citizen Says Trump Crypto ‘Schemes’ Cut Investors by $4.7B on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Virtu Financial, M1X Global and Tradeweb have completed an onchain repurchase agreement (repo) that uses a sovereign digital bond as collateral, with the entire transaction settling on the Canton Network. The deal is notable for pairing natively issued sovereign collateral with fully onchain atomic settlement, according to a release referenced in the report.
The collateral in question is USDM1, a US dollar-denominated sovereign bond issued onchain by the Republic of the Marshall Islands. The bond is described as being backed 1:1 by short-term US Treasurys and pays a coupon while it is posted as collateral. It is also structured under New York law as a fully collateralized sovereign obligation.
Key takeaways
Repo settlement moved fully onchain: the full repo and repurchase cycle completed using atomic settlement on Canton, in under 10 minutes.
USDM1 is deployed as collateral, not just a tokenized asset: the bond is used to support an institutional financing flow.
Deal executed between regulated counterparties: the transaction ran through Tradeweb and was completed between established financial firms.
USDM1 availability ties to institutional rails: Tradeweb provides access, while custody is supported by Anchorage Digital, BitGo and tZERO, per the release.
A repo built around tokenized sovereign debt
Repos are a core part of institutional liquidity management, allowing one party to sell securities and agree to repurchase them later, typically with collateral underpinning the transaction. In this case, the participating firms structured the repo around USDM1—an onchain sovereign bond whose design is meant to keep dollar exposure tied to underlying US Treasurys.
According to the release, the transaction used USDM1 as collateral throughout the lifecycle of the repurchase agreement. This matters because it extends tokenized sovereign debt beyond initial issuance and secondary trading narratives, positioning it for use directly inside financing structures where collateral efficiency and settlement speed are often pivotal.
The companies involved also said the transaction was the first repo to combine natively issued sovereign collateral with fully onchain atomic settlement. While that claim signals a meaningful technical milestone, the report also emphasizes that this remains an early-stage example and does not confirm broad adoption across institutional repo markets.
Canton’s institutional focus shows up in the transaction design
Canton is presented as a blockchain network tailored for institutional finance, with permissioning and privacy features intended to support regulated transactions and tokenized assets. The repo executed this week follows a broader pattern of Canton-related activity in recent months, where major market infrastructure and financial firms have used the network to move tokenized instruments in settlement workflows.
Earlier coverage highlighted that Tradeweb facilitated a July transaction transferring a tokenized US Treasury from Franklin Templeton to Virtu Financial on Canton. That transaction settled against USDCx, illustrating that Canton has been used to connect tokenized assets with stablecoin settlement mechanisms.
In the latest repo, settlement is framed as “fully onchain atomic,” meaning the transaction’s logic and settlement completion happen within the network workflow rather than being partly dependent on traditional post-trade processes. The report states the entire cycle—repo and repurchase—was completed in under 10 minutes between regulated counterparties via Tradeweb.
Momentum on Canton: cross-chain swaps, stablecoins and planned public-benefits pilots
The repo is only one thread in a wider wave of institutional experimentation on Canton. The report notes several developments across August and prior months.
In August, FalconX and Interstice launched a cross-chain swap engine connecting Canton with Ethereum, Solana and Robinhood Chain. The same period also saw World Liberty Financial launch its USD1 stablecoin natively on Canton. Taken together, these moves reflect a push to make Canton interoperable with broader token ecosystems rather than limiting activity to a closed network.
Beyond purely financial market plumbing, the report also references plans announced this month by Digital Asset and the American Idea Foundation—founded by former US House Speaker Paul Ryan—for a 2027 pilot using Canton to distribute state-administered benefits across three US states. While that initiative is different from repo settlement, it signals that developers and institutional backers are looking at Canton as infrastructure for regulated, high-stakes workflows where auditability, access control and privacy matter.
For investors and market participants, this mix of activities raises an important question: whether Canton’s institutional use cases will expand from discrete pilots and isolated transactions into repeatable market processes. Each new transaction type—such as repo collateralization—adds another potential building block, but adoption in core markets depends on operational readiness, counterparties’ comfort with risk controls, and whether tokenized settlement can integrate smoothly with existing institutional infrastructures.
Where USDM1 fits into institutional custody and trading
According to the release cited in the report, USDM1 is available through Tradeweb, while institutional custody is provided by Anchorage Digital, BitGo and tZERO. This structure is relevant because custody and access are often gating factors for tokenized collateral in traditional finance. If collateral remains usable across multiple participants without forcing bespoke custody arrangements, tokenized sovereign debt may be more practical for institutional balance sheets and financing desks.
The reporting also frames USDM1 as a bond that pays a coupon while being used as collateral—an important design point for financing applications. In many collateralized transactions, the issuer of the tokenized asset and the economic rights attached to it can determine whether the collateral is attractive for borrowers and lenders alike.
Still, the report leaves open the extent to which the model will generalize beyond this transaction. Even if the settlement workflow was completed quickly and end-to-end onchain, broader uptake would likely require more counterparties, more standardized collateral handling, and evidence that operational and legal requirements can be met consistently across venues.
Going forward, the key signal for the market will be whether additional repo deals follow using similar collateral structures and whether other institutional networks or trading venues can reproduce the same kind of atomic settlement without requiring significant bespoke setup. Watch for more examples that connect tokenized sovereign assets directly into financing cycles—because that is where adoption could become more than an experimental proof of concept.
This article was originally published as Virtu and Tradeweb Settle On-Chain Repo on Canton Network in <10 Min on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Zcash is being positioned by Grayscale as a potential long-term challenger to Bitcoin’s dominance—less because of day-to-day price action and more due to a structural advantage: transaction privacy. In a new research piece, Grayscale argues that as AI systems become increasingly capable of analyzing large-scale data, the ability to keep financial activity private could grow in importance, potentially translating into renewed demand for privacy-focused networks.
The firm’s thesis centers on what it calls “second mover advantages” for Zcash—an angle Grayscale says prior alternatives such as Litecoin have not managed to capitalize on. At the same time, Grayscale cautions that Bitcoin’s liquidity and entrenched network effects remain formidable barriers, and it characterizes Zcash as a high-risk investment where returns could be volatile.
Key takeaways
Grayscale’s report frames Zcash’s privacy features as potentially more valuable as AI improves at detecting patterns in financial data.
The firm argues Zcash may benefit from “second mover advantages” that help it compete against Bitcoin’s network effects—unlike some earlier challengers.
ZEC has reportedly surged nearly 19-fold over the past year, yet still represents less than 1% of Bitcoin’s market capitalization, implying remaining upside if adoption expands.
Despite the bullish case, Grayscale stresses Zcash’s returns could be uneven and that Bitcoin’s liquidity remains a major structural advantage.
Institutional participation in the Zcash ecosystem is also growing, highlighted by Cypherpunk Technologies’ expanded mining operations.
Why Grayscale thinks AI makes privacy more valuable
Grayscale’s research emphasizes that financial privacy isn’t only about ideology or compliance preferences—it could become an operational necessity in a world where AI can extract insights from transaction-related data at scale. According to Grayscale, Zcash’s ability to shield transaction information could help users reduce exposure to surveillance through pattern analysis.
The core of the argument is that improved AI capabilities may raise the cost of openness in financial activity. If AI can better correlate signals across markets, addresses, and counterparties, privacy becomes not merely a feature but a defense against unwanted inference. In that framing, Zcash’s approach to protecting transaction details becomes the differentiator investors may increasingly underwrite.
Network effects and the gap versus Bitcoin
Grayscale also grounds its case in market structure. The report acknowledges that Bitcoin remains difficult to displace, citing both its liquidity and its entrenched network effects. Those advantages, Grayscale suggests, explain why many alternatives struggle to convert technical differentiation into lasting market share.
Still, the firm points to the scale mismatch between Zcash and Bitcoin as a reason to watch the asset. Grayscale cites ZEC’s roughly 19-fold increase over the past year, while noting that Zcash’s market valuation remains under 1% of Bitcoin’s market capitalization. The implication is that even if Zcash captures only a small portion of Bitcoin’s network value, the upside could be substantial—but not without risk.
Grayscale’s own projection (presented in the report’s materials) suggests Zcash could be worth more than $4,000 if its market capitalization reached 5% of Bitcoin’s—an illustrative benchmark rather than a guaranteed outcome. The firm’s stance is that the “defense” provided by Bitcoin’s liquidity could limit Zcash’s speed of adoption, but that the relative valuation gap leaves room for change if narrative and usage converge.
Institutional activity: Cypherpunk expands Zcash mining
The Grayscale thesis is also supported, at least indirectly, by growing institutional interest in Zcash-related infrastructure. Earlier coverage from Cointelegraph reported that Cypherpunk Technologies—an enterprise privacy technology firm listed on Nasdaq—expanded its Zcash exposure by acquiring a mining fleet from Winklevoss Capital in a $33.33 million equity-based transaction.
Cointelegraph reported that the mining operation is already online across US facilities and is producing about 4.2 GSol/s of Equihash hashrate, roughly 18% of the Zcash network’s total computing power. Cypherpunk said the transaction makes its mining arm the network’s largest active fleet.
This matters because mining scale can influence a network’s security profile and operational maturity, both of which institutional participants often weigh when allocating resources. While mining activity does not automatically translate into sustained market share, it can signal increased commitment to the ecosystem and may improve the reliability of network participation during periods of volatility.
What remains uncertain for Zcash
Grayscale’s report contains an important counterweight: Zcash is described as a high-risk investment, and any further upside could be volatile and uneven. Even if AI-driven concerns around surveillance strengthen demand for privacy coins, the path from narrative to lasting market valuation is rarely smooth—especially when competing against Bitcoin’s liquidity advantage.
For readers, the key question is whether privacy demand will translate into consistent usage and broader allocation beyond short-term enthusiasm. The next signals to watch are whether Zcash’s ecosystem continues to attract sustained capital—both from infrastructure providers and market participants—and whether the market continues to assign increasing value to privacy as AI capabilities grow.
This article was originally published as Grayscale: Rising Privacy Demand Could Strengthen Zcash’s Network Effect on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Mirae Asset is looking to turn its control of South Korean crypto exchange Digital X into a large-scale digital asset platform, targeting 150 trillion won (about $109 billion) in business value, according to The Korea Times.
The plan builds on Mirae Asset Consulting’s acquisition of a controlling 97.15% stake in Korbit last July—an effort the report describes as the first time a South Korean financial group affiliate has taken control of a domestic crypto exchange. After the takeover, Korbit was rebranded as Digital X.
Key takeaways
Mirae Asset aims to grow Digital X into a broad digital asset business worth 150 trillion won, focused on crypto, stablecoins, real-world assets, and security tokens.
The strategy follows Mirae Asset Consulting’s July acquisition of a 97.15% stake in Korbit for a total 141.4 billion won, with the exchange later renamed Digital X.
Digital X has started waiving trading fees for won-denominated assets, with the zero-fee period planned through Aug. 24, 2027.
The initiative comes despite Korbit—Digital X’s predecessor—having only about 0.5% of South Korea’s crypto trading market in 2025, per the country’s Fair Trade Commission.
From Korbit control to Digital X’s expansion blueprint
Digital X’s projected growth is anchored in what The Korea Times says will be a multi-pronged digital asset lineup. The report states Digital X will focus on cryptocurrencies, stablecoins, real-world assets (RWAs), and security token offerings (STOs).
Beyond tokenized financial products, the outlet also reports that the exchange is considering tokenizing physical assets such as gold, silver, and—more unusually—electricity. If pursued, that would position Digital X at the intersection of tokenization narratives and tangible-asset markets, where product design, custody, and regulatory treatment tend to be complex.
Why Mirae Asset’s stake matters for South Korea’s exchange landscape
According to The Korea Times, Mirae Asset Consulting completed its purchase of the 97.15% stake in Korbit in July for a cumulative 141.4 billion won. The deal effectively gave a major financial group affiliate control of a domestic exchange—something the report highlights as a first in South Korea.
That matters because it suggests the market may be shifting from niche crypto venues to exchange models backed by large financial institutions. Such a transition typically brings new priorities—risk management frameworks, institutional-grade product standards, and distribution through broader financial services—though the exact implementation details were not provided in the report.
For context, Korbit’s scale was modest before the rebrand. The Korea Times notes that despite being founded in 2013, Korbit represented just 0.5% of South Korea’s crypto trading market in 2025, citing the country’s Fair Trade Commission. That creates an immediate tension for the new strategy: Mirae Asset’s large target implies a substantial expansion in both users and product depth beyond the exchange’s prior market share.
Fee waivers and the push to widen won-denominated activity
Digital X has already begun changing its trading economics. As reported in the original coverage, on Monday the exchange started waiving trading fees across all won-denominated assets, with the policy scheduled to last through Aug. 24, 2027.
On its face, fee reduction is a competitive lever: it can lower trading costs for active users and improve liquidity during periods when exchanges often compete on price. However, investors and traders typically watch for follow-on effects—such as whether volumes rise enough to offset reduced revenue per trade, and whether the firm’s broader tokenization and stablecoin roadmap receives a corresponding ramp-up in product availability.
Digital X’s stated fee change is tied to its won-denominated markets, and readers can review the exchange’s trading fee information via its own site: https://korbit.co.kr/info/fee/?tab=trade.
Leadership messaging: “Mirae Asset 3.0” and a platform approach
In the lead-up to its expansion, Mirae Asset founder and chairman Park Hyeon-joo reportedly discussed the initiative at an employee event in Seoul on Wednesday. The Korea Times says Park positioned Digital X as a core component of “Mirae Asset 3.0.”
That framing is significant because it indicates the project is not being treated solely as an operational acquisition; it is being pitched as part of a wider corporate evolution. Still, the report does not spell out how Digital X will integrate with other Mirae Asset businesses or what governance and risk controls will be applied as the platform adds stablecoins, RWAs, and security tokens.
Next, market participants should watch how Digital X converts its long-term ambition—tokenizing assets and supporting STOs—into concrete regulatory and product milestones, while also tracking whether the multi-year fee waiver meaningfully boosts trading activity in won-denominated markets. The scale of the 150 trillion won target sets a high bar, and the critical question will be whether the exchange can grow beyond its earlier market share while sustaining a viable revenue model.
This article was originally published as Mirae Asset Details Crypto, Stablecoin, and Tokenization Plan for Digital X on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Virtu Financial, M1X Global and Tradeweb have completed an onchain repo transaction that used a tokenized sovereign digital bond as collateral and settled the full repurchase cycle on the Canton Network. According to the parties involved, the transaction was executed between regulated counterparties and finished end-to-end in under 10 minutes.
The collateral in the deal was USDM1, a US dollar-denominated sovereign bond issued onchain by the Republic of the Marshall Islands. The bond is designed to pay a coupon while also functioning as collateral, and it is backed 1:1 by short-term US Treasurys. Its structure is governed under New York law and is described as a fully collateralized sovereign obligation.
Key takeaways
Three institutions—Virtu Financial, M1X Global and Tradeweb—completed a repo using tokenized sovereign collateral with settlement on Canton.
USDM1 collateral is structured as a coupon-paying, fully collateralized sovereign bond backed 1:1 by short-term US Treasurys.
Atomic settlement claim: the parties say it was the first repo combining natively issued sovereign collateral with fully onchain atomic settlement.
Under 10 minutes was cited for the full repo and repurchase cycle from execution to completion.
Adoption remains uncertain: the transaction is framed as an early example, with no clear indication yet of broad scaling in institutional repo markets.
USDM1 becomes collateral in a full onchain repo
While tokenized bonds have often been positioned as tradable assets or issuance rails, this transaction focuses on their role inside institutional financing. The deal demonstrates how tokenized sovereign debt can be used not just for ownership and trading, but also as functional collateral through the repo lifecycle.
In the reported structure, USDM1 was used as the collateral layer within a repurchase agreement process, with the full transaction settling on Canton. The parties emphasize that the workflow targeted the repo and repurchase cycle as a complete “atomic” onchain settlement process, rather than splitting settlement across different systems or steps.
Tradeweb acted as the platform for execution between regulated counterparties. For custody, the release names Anchorage Digital, BitGo and tZERO as institutional custody providers supporting access to USDM1 through the electronic trading venue.
Why Canton’s permissioned design matters for institutional finance
Canton Network is built for institutional financial use cases, with features aimed at regulated trading and tokenized asset workflows, including permissioning and privacy controls. The repo example comes after multiple other Canton-linked developments that show how the network is being used to move tokenized instruments and settle transactions.
In an earlier July transaction, Tradeweb facilitated a real-time transfer of a tokenized US Treasury from Franklin Templeton to Virtu Financial on Canton, with settlement executed against USDCx. That prior example centered on token transfer and settlement mechanics; the latest repo follows by applying Canton’s approach to a financing structure that depends heavily on collateral management.
For market participants, this distinction is important: repo is operationally and legally complex, and it typically involves tightly coordinated settlement steps. If tokenized sovereign collateral can be integrated into that process with rapid onchain settlement, it may reduce operational friction and shorten the time between execution and completion—at least within the confines of controlled test or pilot environments.
Momentum builds: cross-chain swaps and native stablecoins on Canton
The new repo arrives as activity on Canton increased during August, according to earlier reporting and announcements referenced in the source. FalconX and Interstice launched a cross-chain swap engine linking Canton with Ethereum, Solana and Robinhood Chain, expanding how assets can be routed across ecosystems while using Canton as the institutional settlement environment.
At the same time, World Liberty Financial launched a native USD1 stablecoin on Canton. In addition to payment and settlement utility, native stablecoin deployment can also influence how institutions model liquidity and collateral flows within tokenized workflows.
Broader plans were also mentioned involving Digital Asset and the American Idea Foundation, founded by former US House Speaker Paul Ryan. The parties announced plans this month for a 2027 pilot that would use Canton to distribute state-administered benefits across three US states.
Taken together, these items suggest Canton is being used as more than a single-application testnet. Instead, the ecosystem is gradually incorporating exchange-like capabilities, stablecoin issuance, and settlement for institutional workflows—components that are often prerequisites for scaling to wider capital markets use.
What this means for institutional repo markets—today and next
The latest repo is positioned as an early-stage milestone: the parties involved are effectively using tokenized sovereign debt as collateral inside a real repo process, and then completing the cycle onchain. The speed reported—under 10 minutes for the full repo and repurchase cycle—signals that operational complexity is being addressed in practice, at least in this instance.
However, the release also leaves open the central question facing the market: whether this model will translate into broader adoption across institutional repo markets. Repo is a core part of the fixed-income funding ecosystem, and widespread deployment typically depends on standardization across counterparties, legal frameworks, operational integration with existing back-office systems, and consistent liquidity for collateral tokens.
One clear development to watch is whether additional repo participants adopt natively issued sovereign token collateral in similar atomic settlement workflows, and whether the approach expands beyond controlled counterparties and specific venue support. Investors and builders should also look for incremental improvements in how collateral, stablecoin settlement assets, and cross-chain liquidity integrate under Canton’s permissioned architecture.
For now, the key takeaway is that tokenized sovereign bonds are moving from “asset onchain” to “collateral in institutional finance,” and Canton’s growing set of settlement and integration features will likely determine how quickly similar strategies can move from demonstrations to repeatable market infrastructure.
This article was originally published as Virtu and Tradeweb Finalize On-Chain Repo on Marshall Islands Bonds on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

US consumer advocacy group Public Citizen says investors involved in Donald Trump’s digital asset activities since 2022 have collectively lost an estimated $4.7 billion. The figure, published in a report by the nonprofit, centers on the Trump family’s World Liberty Financial token initiatives, Trump’s 2022 NFT trading cards, and the president’s memecoin, Official Trump (TRUMP), alongside revenue tied to World Liberty’s USD1 stablecoin.
Public Citizen’s analysis claims that most of the losses fall on TRUMP memecoin buyers, while it also argues that purchases of World Liberty Financial’s USD1 stablecoin have not “suffered major losses.” The group further contends that the gains earned by Trump through licensing, royalties, and token-related sales did not fully reflect the ongoing risk borne by outside investors.
Key takeaways
Public Citizen estimates investor losses of at least $4.7 billion tied to Trump family crypto ventures since 2022.
The largest share of the losses—$3.2 billion—is attributed to investors in the TRUMP memecoin.
Public Citizen says investors in World Liberty Financial’s USD1 stablecoin have not faced major losses.
The advocacy group renews pressure for ethics provisions in the Digital Asset Market Clarity (CLARITY) Act.
Cointelegraph reported earlier that Trump met with crypto executives and called for a “fair version” of the CLARITY Act to advance; a scheduled cloture vote is set for Sept. 15.
Where Public Citizen says investor losses came from
In its report, Public Citizen argues that a combination of Trump-linked digital asset products and related activity has left investors underwater by at least an estimated $4.7 billion since 2022. The group points to several components: the World Liberty Financial governance token, the president’s NFT trading cards launched in 2022, the TRUMP memecoin, and Trump Media’s digital asset treasury.
The report’s central breakdown is stark. Public Citizen says TRUMP memecoin investors account for $3.2 billion of the estimated losses, presenting it as a case where value was transferred to early buyers rather than disappearing entirely. In contrast, the group says buyers of World Liberty Financial’s USD1 stablecoin have not seen “major losses,” implying that price deterioration—rather than systemic failure—has been the dominant issue for the higher-risk products in the portfolio.
Public Citizen also highlights that its estimate concerns “left investors…underwater,” framing the problem as a mismatch between investor outcomes and the perceived benefits accruing to the Trump family through various mechanisms.
How the report ties losses to revenue and licensing
Alongside the loss estimate, Public Citizen describes revenue streams it says Trump earned during the same period. According to the nonprofit, the president collected $7.2 million from NFT licensing fees and royalties. It also cites more than $600 million from World Liberty token sales and the sale of an equity stake, $635 million in licensing fees for the memecoin, and $197 million in revenue from capital contributions to World Liberty.
The organization stresses that these totals do not incorporate the value or stakes tied to ventures that Trump continues to hold. Some figures, Public Citizen notes, were reflected in disclosures discussed in earlier coverage; Cointelegraph previously reported on 2025 filing disclosures that included earnings tied to crypto.
For investors, the implication is not simply that digital assets can be volatile, but that governance, incentives, and monetization structures may concentrate upside for promoters while leaving retail participants exposed to downside. Public Citizen’s framing underscores a familiar tension in crypto markets: whether token launches and monetization pathways generate benefits broadly—or primarily reward early participants and project insiders.
Why ethics provisions in the CLARITY Act matter now
Public Citizen’s renewed criticism extends beyond individual products and into proposed crypto regulation. The nonprofit says the US needs ethics provisions in the Digital Asset Market Clarity (CLARITY) Act, arguing that “the president’s policy choices and personal portfolio cannot be separated.” It calls for legislation that would require a US president and his family to divest from projects in the industry.
This push reflects a broader concern among critics of US policy conflicts: in fast-moving sectors like digital assets, the line between market participation and policymaking can shape outcomes. Public Citizen’s argument suggests that even if a bill is technically neutral, the political actor’s direct exposure could alter incentives for how rules are designed, timed, or implemented.
Supporters of engagement may argue that experience or involvement can inform policy. But Public Citizen’s position is that divestment requirements are an essential safeguard—particularly where a president’s policy choices could influence investor confidence, market structure, and enforcement priorities.
Legislation still moving—timing and political pressure
Public Citizen’s renewed call comes as it characterizes additional crypto-related activity as “potentially on the way.” The group also links its push to momentum around the CLARITY Act.
Cointelegraph reported that Trump met with crypto company executives last week and urged passage of a “fair version” of the CLARITY Act once the Senate returns to session next month. The bill is scheduled for a cloture vote on Sept. 15. Advancing would require at least 60 senators to vote in favor, meaning the measure’s next step depends on securing broad support rather than a simple party-line outcome.
The combination of Public Citizen’s critique and the legislative calendar is likely to keep the ethics debate in focus. If the CLARITY Act proceeds on the timetable described, lawmakers may face pressure—publicly and politically—to address conflict-of-interest concerns before the bill’s substance locks in.
Meanwhile, Public Citizen’s estimate is likely to remain a reference point in future discussions because it connects consumer-outcome claims with specific categories of products—memecoin versus stablecoin—and with monetization mechanisms such as royalties, licensing fees, and token sales.
Investors and builders should watch whether the CLARITY Act’s handling of conflicts of interest evolves as the Sept. 15 cloture vote approaches, and whether additional disclosures or market data clarify the extent to which losses were driven by general volatility versus design choices tied to early participation. The next phase will test whether ethics safeguards become part of crypto market structure—or remain optional in practice.
This article was originally published as Public Citizen: Trump Crypto ‘Schemes’ Allegedly Cost Investors $4.7B on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Bitcoin’s August rebound is dragging attention back toward the companies most directly leveraged to the network, with beaten-down mining stocks sharply outperforming many firms that had emphasized artificial intelligence (AI) and high-performance computing (HPC) rather than pure crypto exposure.
According to BlocksBridge Consulting’s Miner Weekly, Bitcoin has rallied about 23% over the past week—an advance that the firm says has outpaced most AI-linked infrastructure stocks. While some AI/HPC peers managed modest gains, the strongest moves were seen among miners with the most direct relationship to Bitcoin price action.
Key takeaways
BlocksBridge reports Bitcoin’s ~23% weekly rally outperformed many AI-linked infrastructure equities.
Bitcoin-focused miners such as Canaan, American Bitcoin, and Cango rose between 41% and 67%, while several AI/HPC-heavy names were flat or down.
BlocksBridge attributes the stock surge to Treasury liquidity-support buybacks, renewed US crypto regulatory momentum, and a sharp liquidation-driven short squeeze.
The broader message for investors: despite the industry’s AI pivot, Bitcoin price still largely determines near-term mining-stock performance.
Miners rebound while AI/HPC pivots lag
The outperformance was concentrated in companies that market themselves around mining and Bitcoin economics, rather than broader compute infrastructure narratives. BlocksBridge highlighted three beaten-down Bitcoin mining companies—Canaan, American Bitcoin, and Cango—posting gains ranging from roughly 41% to 67% during the same period.
By comparison, miners and infrastructure-linked companies with more diversified exposure saw smaller moves. BlocksBridge cited CoreWeave rising about 21%, Nebius gaining about 17%, and IREN up around 15%. It also noted that some players with heavier AI/HPC exposure were flat or declined—an important contrast for traders who may have been expecting the market to continue rewarding the AI theme alone.
This relative performance matters because it signals how quickly capital can rotate back toward the most straightforward “beta to Bitcoin.” Even if AI-related businesses remain central to longer-term strategy for many operators, the market appeared to treat Bitcoin price strength as the dominant driver of miners’ equity re-rating over the week.
Why Bitcoin’s rally translated into stock gains
BlocksBridge pointed to three overlapping catalysts that helped ignite the move in crypto markets and, in turn, mining equities.
Treasury buyback expansion and liquidity expectations
One driver was the US Treasury Department’s Aug. 19 announcement that it would at least double the size of its liquidity-support buybacks for longer-dated Treasury securities. BlocksBridge linked this to improved liquidity expectations—an environment that often supports risk assets broadly, including crypto-linked equities.
The connection is straightforward: when liquidity conditions improve, markets tend to become more willing to price risk higher, which can benefit volatile sectors like crypto and crypto mining.
Regulatory optimism after White House meeting
A second catalyst cited by BlocksBridge was renewed regulatory optimism following a White House meeting with crypto executives. Reuters reported that US President Donald Trump urged Congress to pass a “fair version” of the CLARITY Act, a stalled crypto market structure bill.
For public miners, regulation matters less as a daily operational variable and more as a factor that can influence investor confidence and capital allocation. Even the anticipation of clearer market rules can change how equity markets discount regulatory risk across the crypto complex.
Liquidations and a short squeeze after Bitcoin broke out
The third element described by BlocksBridge was a sharp short squeeze after Bitcoin’s breakout. The firm said more than $1.6 billion in crypto positions were liquidated over 24 hours—an event that can force margin closures, accelerate price momentum, and pull additional participants into the trade.
This type of positioning-driven rally can especially benefit miners’ stocks in the short term. Mining equities often move in tandem with both crypto prices and broader risk appetite, so liquidation cascades can amplify gains beyond what “fundamentals” alone would suggest.
Bitcoin still sets the pace, despite the AI funding push
BlocksBridge’s findings align with earlier coverage from Cointelegraph that Bitcoin’s rally lifted crypto-related stocks, including Bitcoin miners. While the industry has increasingly marketed AI and HPC capabilities in recent years, the week’s performance suggested that investors were still willing to pay up for direct exposure to Bitcoin rather than compute-adjacent narratives.
That focus is reinforced by additional BlocksBridge analysis referenced in the report: publicly traded Bitcoin miners have invested roughly $15 into AI data centers for every $1 in AI-related revenue generated. The firm cited nine public miners generating $341.2 million in AI and HPC revenue so far in 2026, alongside $5.11 billion in AI and HPC capital expenditures on the technology.
The implication is not necessarily that AI pivots are failing, but that the investment phase may be heavy and slow to convert into revenue. In such a setup, equities can be more sensitive to near-term Bitcoin price movements—because the market may not yet fully “see” AI returns in earnings, cash flow, or guidance.
What investors should watch next
If liquidity expectations, regulatory headlines, and crypto positioning remain supportive, mining stocks may continue to trade as a high-beta reflection of Bitcoin. But investors will likely watch whether the outperformance persists after the initial squeeze fades—and whether miners’ AI/HPC spending begins to translate into measurable revenue gains that can support valuations independently of Bitcoin’s next move.
This article was originally published as Bitcoin’s 23% Surge Lifts Miners Above AI Stocks on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Bitcoin steadied above the psychological $80,000 level as a sharp rebound in US equities helped risk assets across markets. TradingView data showed BTC/USD pushing to a local high of $80,808 around the Wall Street open, with traders watching whether the latest move can hold as support.
The catalyst behind the broader bounce was Nvidia’s earnings surprise. Nvidia reported Q2 earnings of $96.2 billion—nearly $4 billion above expectations—sending its stock up more than 9% and lifting the Nasdaq Composite as investors rotated back into high-growth equities.
Key takeaways
BTC reclaimed the $80,000 area after Nvidia’s earnings beat sparked a broader lift in US stocks and sentiment.
Markets are focused on Fed chair Kevin Warsh’s Jackson Hole keynote on Friday amid uncertainty around inflation and the Fed reaction function.
CoinGlass data showed crypto liquidations running around $417 million over 24 hours, suggesting pressure is easing as buyers absorb nearby sell liquidity.
Analyst David Eng says the derivatives “liquidity wall” looks weaker ahead of August options expiry on Deribit, potentially improving the odds of a cleaner upside path if $82,000 breaks.
Nvidia lifts risk sentiment, Bitcoin follows
Nvidia’s upside surprise quickly spilled into crypto markets. After Wednesday trading, the company posted Q2 earnings of $96.2 billion—nearly $4 billion higher than expectations—prompting a major rally in its shares on Thursday. The stock surge translated into a wider market tailwind: the Nasdaq Composite was up about 1% at the time of writing, while Nvidia’s market capitalization increased by more than $400 billion.
That stock-market momentum mattered for Bitcoin in the near term because it reinforced the “risk-on” conditions that typically support higher-beta assets. TradingView charts reflected this with BTC/USD moving back toward and above $80,000 as bulls tried to defend the level early in Thursday’s session.
Commentary from trading resource The Kobeissi Letter on X highlighted the magnitude of the move, writing that Nvidia appeared on track for one of the biggest single-day market cap gains in stock history.
Jackson Hole focus returns as rates remain the swing factor
Even with crypto riding equity strength, attention is shifting quickly to monetary policy. Jackson Hole is already underway, and investors are bracing for Fed chair Kevin Warsh’s keynote speech on Friday.
The underlying reason is simple: Warsh’s comments could influence expectations for how quickly interest rates move—especially given the mix of inflation data and volatility in government bond yields referenced in coverage leading up to the event. According to CNBC, Kathy Bostjancic, chief US economist at Nationwide, said Warsh’s address is likely to be “extremely key” because long-term rates have risen and uncertainty remains about the inflation path and the Fed’s reaction function.
For Bitcoin traders, that matters because shifts in the interest-rate outlook often change how investors price duration risk, liquidity, and correlation across assets. When rates stabilize or expectations soften, conditions can become more supportive for crypto; when they reprice upward, momentum can fade quickly.
Sell-side liquidity appears to thin ahead of August options expiry
In crypto-specific flows, liquidation activity offered another clue. CoinGlass data showed liquidations edging higher to roughly $417 million over the prior 24 hours. The key nuance is how the market behaved: buyers were reportedly chipping away at an area of significant ask liquidity, helping Bitcoin hold firm rather than accelerating lower.
Earlier reporting cited a liquidity zone extending up to $86,000 that had been creating friction for additional upside. The current setup appears different in timing: with a major derivatives milestone approaching, that resistance may start to lose potency.
On the derivatives side, analyst David Eng described the prevailing “liquidity wall” as “weakening” ahead of Friday’s August options expiry on Deribit. The expiry cited in the report is $6.58 billion, corresponding to 81,700 BTC at the time referenced, with Eng suggesting that once Bitcoin clears $82,000, the path to higher levels (noted as $85,000+) could become “much cleaner.”
Options expiry events can increase volatility because market makers and traders rebalance positions when contracts settle. When open interest is concentrated around certain strikes, price often gravitates toward those levels as hedging and arbitrage dynamics intensify near the cutoff.
What traders should watch next
The near-term question for Bitcoin is whether it can consolidate above $80,000 and then challenge $82,000 with less friction than earlier in the week. If the liquidity pressure Eng flagged continues to dissipate into the August options expiry window, traders may see a more decisive move upward; if rates guidance from Warsh jolts markets the other way, the support narrative could be tested again quickly.
This article was originally published as Bitcoin Targets $81K After Nvidia Earnings Beat Lifts Risk Assets on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Charles Schwab is set to expand the range of cryptocurrencies it offers to retail clients, adding Solana (SOL), Avalanche (AVAX) and Chainlink (LINK) to its Schwab Crypto platform in the coming months. The move broadens Schwab’s direct crypto trading beyond its initial support for Bitcoin (BTC) and Ether (ETH).
Schwab Crypto began rolling out to retail clients in May, allowing customers to trade BTC and ETH through Schwab’s website, mobile app and thinkorswim platform. Schwab has said it intends to add additional digital assets over time, but—beyond naming the three new tokens—it has not provided further details on what else may follow or a more specific schedule.
Key takeaways
Schwab Crypto will add Solana (SOL), Avalanche (AVAX) and Chainlink (LINK), expanding beyond BTC and ETH.
The brokerage started its retail rollout in May, initially offering direct trading for Bitcoin and Ether via Schwab’s existing platforms.
Schwab charges 0.75% (75 basis points) on the dollar value of each crypto trade.
Schwab Crypto availability is limited to U.S. states excluding New York and Louisiana, with no offering in territories or internationally.
The firm’s crypto expansion aligns with a broader push into new trading products, including prediction-style contracts tied to the S&P 500.
Beyond BTC and ETH: Schwab’s next crypto batch
Schwab’s announcement marks another step in the firm’s efforts to integrate digital assets into mainstream brokerage workflows. When the initial rollout began in May, Schwab positioned its service as a direct trading option—bringing crypto into the same environment retail investors use for traditional market exposure.
With SOL, AVAX and LINK now on the roadmap, Schwab is effectively moving from a “two-asset” entry point to a wider selection of widely followed networks and token ecosystems. However, the company has not described any broader framework for how it chooses future listings, nor has it outlined whether additional assets could be added after these three.
For investors, the practical impact is twofold. First, it increases the range of coins that can be traded directly through a familiar brokerage interface rather than via separate exchanges. Second, it potentially changes portfolio construction, because tokens like SOL and AVAX represent different market dynamics compared with BTC and ETH—particularly in terms of sector exposure tied to smart-contract and decentralized application ecosystems.
How Schwab Crypto works—and what it costs
Schwab Crypto operates as a direct crypto trading service offered through Schwab’s banking and brokerage structure. The accounts are provided through Charles Schwab Premier Bank, while affiliated brokerage Charles Schwab & Co. performs certain operational functions on the bank’s behalf.
Pricing is set at 75 basis points, or 0.75%, on the dollar value of each crypto trade. Schwab has also defined geographic limits for customers: the service is available in all U.S. states except New York and Louisiana, and it is not offered in U.S. territories or internationally.
Those restrictions matter because they define who can actually access the expanded token list. Even as Schwab adds new assets, participation will remain constrained by the company’s current regulatory and compliance footprint.
Retail rollout in motion since May
Schwab Crypto’s initial retail availability began with BTC and ETH as Schwab started rolling out the product to customers. According to earlier coverage from Cointelegraph, the exchange-enabled experience was introduced through Schwab’s website, mobile app and thinkorswim platform for a first group of retail clients.
Schwab has continued to describe the crypto offering as something that will grow over time. The inclusion of SOL, AVAX and LINK therefore fits within that stated plan, but the company’s public communications still leave key questions unanswered for traders—especially around whether it will expand to additional tokens beyond those three and when.
Schwab’s parallel push into prediction markets
Schwab’s crypto expansion arrives as the broker prepares additional trading-related offerings. In June, The Wall Street Journal reported that Schwab plans to offer prediction contracts tied to the S&P 500 index in partnership with Cboe Global Markets. Those contracts would let clients wager whether the index will close above or below a specified level, with the product reportedly expected to launch within months.
Importantly, Schwab’s reported plan differs from platforms such as Kalshi and Polymarket, which are known for broader prediction markets. The Journal report suggested that Schwab’s initial contracts would be limited to index outcomes rather than expanding immediately into other event categories.
From an industry standpoint, the connection is less about crypto specifically and more about how traditional brokerage firms are expanding beyond standard asset classes. If Schwab follows through on both the multi-asset crypto trading roadmap and prediction-style contracts, it signals a broader effort to develop new “trading products” that can sit alongside conventional investments—potentially drawing investor attention to alternative ways of positioning risk and expectations.
What to watch next
Schwab hasn’t provided a precise timetable for when SOL, AVAX and LINK will go live, so investors should watch for official platform updates and client notifications once trading availability is enabled. More broadly, the bigger question is whether Schwab will continue expanding its crypto roster after these three tokens—and how its evolving product menu (from crypto to prediction contracts) reshapes participation for retail traders in the U.S.
This article was originally published as Charles Schwab Adds Solana, Avalanche, and Chainlink to New Platform on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Ripple Prime, the multi-asset prime brokerage unit of Ripple, has rolled out a “Delta One” service aimed at institutional investors—bringing US equity derivatives into its existing platform alongside foreign exchange, fixed income and digital assets. The launch is positioned as an expansion of how clients can gain exposure to underlying assets through derivatives rather than direct ownership.
In a Thursday announcement, Ripple Prime said the new offering enables clients to execute total return swaps tied to US-listed equities and indexes, as well as digital assets. Total return swaps are designed to deliver the economic returns of an asset over a specified period without requiring the investor to hold the underlying instrument.
Key takeaways
Ripple Prime’s new Delta One service uses total return swaps to provide exposure to US-listed equities and indexes, plus digital assets.
The product targets hedge funds, asset managers, and other financial institutions that need derivative-based exposure rather than direct ownership.
Ripple Prime says clients can use a single counterparty and cross-margin positions across the supported asset classes.
Ripple Prime said it operates with more than $1 billion in regulatory net capital, supporting its balance-sheet role as a prime brokerage.
The initiative follows recent capital-raising steps, including senior unsecured notes and a credit facility described in earlier coverage.
A prime brokerage step into equity-linked derivatives
Delta One products are often used by institutions to simplify portfolio implementation and risk management. Instead of buying or shorting the underlying assets, investors can gain exposure through swap structures that track the total return performance of a reference asset. Ripple Prime’s announcement extends that model to US equity derivatives, adding equities and indexes to the asset classes it already supports.
The company emphasized operational and risk-management benefits for clients. According to the announcement, clients can execute these trades with a single counterparty and cross-margin exposures across the supported asset categories. The “around the clock” framing suggests Ripple Prime is tailoring the service for continuous trading environments, which matters for institutions managing global schedules and hedging workflows.
What Ripple says the service is designed to solve
Ripple Prime said the Delta One business is aimed at hedge funds, asset managers and other financial institutions. That target customer base typically values derivatives for their flexibility—especially when institutions want to express views quickly, rebalance frequently, or hedge exposures across different markets.
Ripple Prime President Noel Kimmel called the launch “an important development” and described it as a natural extension of the platform the company has built. While the announcement does not elaborate on specific contract terms or asset universe breadth, the core idea—total return swaps linked to US equities and indexes and digital assets—signals a broader attempt to unify trading and settlement workflows under one prime brokerage relationship.
Capital and balance sheet expansion behind the rollout
Prime brokerage and clearing activities rely heavily on capital, risk controls and regulatory capacity. Ripple Prime said it has more than $1 billion in regulatory net capital. It also described the platform’s existing coverage as spanning foreign exchange, derivatives, fixed income and digital assets—suggesting the Delta One product is being positioned inside a multi-asset ecosystem rather than as a standalone equity-only business.
The Delta One launch follows earlier financing steps intended to support growth. Earlier in August, Ripple Prime closed a $275 million private placement of senior unsecured notes, according to prior coverage from Cointelegraph (see Ripple raises $275m for US prime brokerage). In May, it secured a $200 million credit facility from funds managed by Neuberger Specialty Finance, as noted in earlier Cointelegraph reporting (see Ripple Prime secures $200m credit facility).
For investors and trading desks, these kinds of funding moves can be relevant because they affect the prime broker’s ability to take on counterparty exposure, expand lending or financing capacity, and support additional derivative activity. The Delta One service itself is not described as a replacement for other prime brokerage lines; rather, it appears to extend the same institutional infrastructure into equity-linked swap execution.
From Hidden Road to Ripple Prime: building toward a unified platform
Ripple Prime, as a brand and business unit, was created after Ripple completed its $1.25 billion acquisition of Hidden Road in October 2025 and rebranded the operation. That background matters because it explains how Ripple’s prime brokerage push moved from an acquired platform into a broader multi-asset offering.
The Delta One launch also reflects a broader trend in institutional crypto infrastructure: major players are trying to expand beyond spot and custody into regulated market-making and derivatives access. By linking US equity references and digital assets through total return swaps, Ripple Prime is attempting to make it easier for traditional investors to integrate crypto exposures into derivative-led strategies—potentially lowering friction for portfolios that already rely on cross-asset hedging.
Still, the announcement leaves open questions that institutions may want to clarify before onboarding—such as the scope of eligible underlying equities, index references, settlement mechanics, and how the cross-margin model behaves across more complex portfolios. Those details typically determine how smoothly a new Delta One offering fits into an institution’s existing risk and collateral processes.
What to watch next
Institutional demand for Delta One depends on product breadth, execution quality and risk/collateral mechanics. After Ripple Prime’s US equity derivatives expansion, market participants are likely to watch how quickly the service scales across clients and asset classes—and whether Ripple Prime continues adding reference assets or related hedging tools as it builds out the platform.
This article was originally published as Ripple Prime Launches Delta One US Equity Derivatives for Institutions on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Ripple Prime, the multi-asset prime brokerage arm of Ripple, has rolled out a Delta One offering aimed at institutional investors—bringing US equity derivatives into its existing platform. The new service lets clients trade total return swaps tied to US-listed equities and indexes, alongside digital assets.
In a Thursday announcement, Ripple Prime said the Delta One business is designed to broaden how hedge funds, asset managers and other financial institutions gain exposure to returns without needing to hold the underlying assets directly.
Key takeaways
Ripple Prime launched a Delta One service offering total return swaps linked to US-listed equities, indexes and digital assets.
Clients can execute with a single counterparty and cross-margin exposures across the supported asset classes, according to Ripple Prime.
The offering is positioned for hedge funds, asset managers, and other financial institutions seeking flexible access to returns.
Ripple Prime says it has more than $1 billion in regulatory net capital, supporting its prime brokerage and financing operations.
Growth funding included a $275 million senior unsecured notes private placement earlier this year and a $200 million credit facility in May.
A Delta One bridge from prime brokerage to equity derivatives
At the core of Ripple Prime’s launch is a familiar structure from traditional markets: total return swaps. These contracts allow an investor to receive exposure to an asset’s overall returns—typically reflecting price appreciation and other relevant components—without owning the asset itself.
Ripple Prime’s Delta One service extends that approach to US equity-linked instruments. The company said clients can use the platform to obtain exposure through total return swaps referencing US-listed equities and indexes, as well as digital assets. For institutional participants, that combination matters because it can streamline portfolio construction across conventional and crypto-native exposures within one workflow.
Cross-margining and a “single counterparty” approach
Ripple Prime said the product is intended for clients that want efficiency in execution and risk management. By allowing clients to transact with a single counterparty and to cross-margin exposures across supported asset classes, the firm is effectively aiming to reduce operational friction that often comes with running multiple counterparties and separate margin regimes.
The company also framed the service as available “around the clock,” highlighting the practical reality that digital asset markets operate continuously while US equities run on defined trading hours. For multi-asset desks, the pitch is that exposure can be managed more continuously, rather than requiring separate processes across asset types.
How Ripple Prime’s platform is built—and what’s backing it
Ripple Prime is not starting from zero in the institutional services stack. The firm previously offered prime brokerage, clearing, and financing support across foreign exchange, derivatives, fixed income and digital assets. With the Delta One launch, Ripple Prime is adding another layer on top of that infrastructure—specifically by incorporating US equity derivatives exposure into its total return swap toolkit.
Ripple Prime also stated that the business has more than $1 billion in regulatory net capital. In practical terms, net capital is a key metric for firms operating in brokerage and derivatives-adjacent businesses, and it can influence how much risk capacity and lending or financing activity a firm can support.
Funding and corporate buildup behind the expansion
The Delta One announcement fits into Ripple Prime’s broader expansion path. Ripple Prime was created after Ripple completed its $1.25 billion acquisition of Hidden Road in October 2025 and then rebranded the business.
Earlier this year, Ripple Prime moved to strengthen its funding base for growth. In August, it closed a $275 million private placement of senior unsecured notes, according to earlier reporting from Cointelegraph. In May, Ripple Prime also secured a $200 million debt facility from funds managed by Neuberger Specialty Finance to expand its lending capacity for institutional clients, as covered previously by Cointelegraph.
Taken together, those steps suggest Ripple Prime is working to scale lending and prime services capacity while broadening the set of products available to institutional clients. The Delta One launch extends that scaling effort into equity-linked derivatives exposure, rather than keeping the product offering confined to digital assets or FX-based instruments.
For investors and institutional allocators, the most immediate question is how quickly counterparties and clients adopt the new Delta One service and whether cross-margining meaningfully changes margin efficiency for multi-asset portfolios. In the near term, traders should also watch for details on the specific contract terms and supported underlyings as the offering is rolled out, and for any further product expansions that connect Ripple Prime’s digital asset exposure to traditional market structures.
This article was originally published as Ripple Prime Launches US Equity Derivatives via Delta One Unit on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

The UK government is proposing to give the Bank of England a secondary mandate focused on innovation in digital payments, explicitly covering payment systems that rely on “digital settlement assets” such as stablecoins. The move, announced by HM Treasury on Thursday, keeps financial stability as the Bank of England’s primary responsibility while carving out room for experimentation and development of emerging forms of digital money.
According to HM Treasury, the change would apply to the central bank’s oversight of payment infrastructure, with the expectation that the Bank of England will report progress to Parliament each year on how it is advancing the new payments innovation objective. The government plans to embed the mandate through amendments to the Financial Services and Markets Bill, which is set for further debate in the House of Lords on Sept. 7 and 9.
Key takeaways
The Bank of England would gain a secondary objective to support innovation in payment systems and digital money, while financial stability remains the top priority.
The mandate is intended to cover systems that use digital settlement assets, including stablecoins, linking UK stablecoin policy more directly to payments development.
The Bank of England would provide annual updates to Parliament on its innovation work, potentially increasing public accountability for how stablecoin-related rules are implemented.
The proposal is set to be incorporated through amendments to the Financial Services and Markets Bill, with House of Lords debates scheduled for Sept. 7 and 9.
Industry reaction may hinge on the practical details of how the Bank of England’s annual reporting is used alongside existing stablecoin requirements.
Why the Bank of England’s “innovation” role matters for stablecoins
The announcement effectively broadens the Bank of England’s remit beyond purely stability-focused oversight. Under the proposal, the Bank of England would extend an existing regulatory approach applied to core market infrastructure—specifically central counterparties (CCPs) and central securities depositories (CSDs)—to also incorporate a payments innovation goal.
The significance for stablecoins is that the mandate is not limited to abstract research or central bank digital money alone. HM Treasury states that the mandate would cover payment systems using digital settlement assets, a phrasing that includes stablecoins and helps clarify that they are part of the UK’s wider payments technology agenda.
For market participants, this matters because regulatory emphasis can shape how quickly new payment rails move from pilot to deployment. A formal “innovation objective,” paired with parliamentary reporting, may also influence how the Bank of England balances caution with experimentation as stablecoin rules and related infrastructure testing develop.
Parliamentary reporting could intensify scrutiny
While the innovation mandate is described as secondary to financial stability, the details of implementation may determine how much room it creates for the stablecoin market to grow under the UK’s framework.
According to Maksym Sakharov, co-founder and CEO of WeFi, the annual reporting requirement could shift the balance toward greater public scrutiny. Sakharov told Cointelegraph that because the innovation objective is “secondary to financial stability,” it “overrides nothing,” but the Bank of England would still have to publish annual accounts of its work on payments innovation and digital money.
He suggested that this publication requirement could matter particularly because it would place additional attention on the stablecoin rules the central bank finalized in June. In other words, even if the innovation mandate cannot dilute stability obligations, the reporting component could increase the visibility of how those obligations are applied in practice.
Existing stablecoin requirements and a key reserve debate
Sakharov focused on specific requirements for “systemic stablecoin issuers,” including a reserve structure that—per his comments—requires issuers to keep at least 30% of their backing assets in non-interest-bearing deposits at the central bank.
He argued that the “reserve split is the first thing to fix,” adding that the requirement could influence whether a stablecoin business is commercially viable. This is a notable point for investors and operators because reserve rules directly affect cost structure, risk management, and the economics of issuance—factors that can shape which issuers can scale while still meeting compliance expectations.
Importantly, the Bank of England’s innovation mandate does not automatically change those reserve mechanics. However, by tying central bank reporting to digital payments innovation, the proposal could create additional pressure—politically and publicly—for regulators to explain how stablecoin market design aligns with broader payments modernization goals.
UK stablecoin momentum: from interoperability tests to cross-border alignment
The new mandate arrives as the UK increases its operational and policy work around stablecoins. In August, a group participating in the Bank of England’s Digital Pound Lab began testing whether a stablecoin could interoperate with a simulated digital British pound for a cross-border trade payment. HM Treasury and project reporting described the experimental platform as not using real customers or money.
Earlier, in mid-July, the UK and US published a joint statement on stablecoins that signaled intent to enable their use in cross-border finance and called for closer alignment between regulatory frameworks. The statement indicates the UK is seeking interoperability not just at the technical level, but also in how rules may converge across jurisdictions.
The UK’s approach also shows a pattern of adjusting earlier constraints. Cointelegraph previously reported that the Bank of England dropped plans to cap individual holdings at 20,000 British pounds and business holdings at 10 million British pounds, replacing those limits with a temporary cap of 40 billion pounds (about $52.9 billion) on issuance for each “systemic stablecoin.” That shift, paired with the July and August policy and testing activity, suggests UK regulators are working toward a structure that emphasizes systemic risk while allowing broader participation than earlier retail- and business-specific limits.
Additionally, the UK government’s direction to expand the Bank of England’s mandate fits within a broader effort to support innovation in tokenized and distributed ledger-based approaches—an idea echoed by City Minister Lucy Rigby, who said tokenisation and DLT could transform financial markets globally.
As lawmakers prepare for House of Lords debates on Sept. 7 and 9, market participants should watch not only whether the mandate is adopted, but also how the Bank of England translates “innovation” into measurable actions—especially in areas like systemic issuer requirements and reserve design that currently influence stablecoin business economics.
This article was originally published as Bank of England Proposes New Stablecoin Innovation Mandate on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Tokenized deposits could make bank funding less “sticky,” potentially increasing borrowing costs for US households and businesses, according to an analysis by economists at the Federal Reserve Bank of Dallas. The concern is not about immediate, one-for-one changes to lending, but about how faster deposit movement—enabled by instant settlement and automated transfers—could reshape how banks manage liquidity and credit risk.
In a research note, economists Rosie Levy and Srini Ramaswamy argue that programmable deposit tokens combined with automated transfer mechanisms could allow customers seeking higher yields to switch banks more quickly. They estimate that if deposits became 10% more responsive to interest rates, banks’ capacity to hold long-term loans and other assets could decline by roughly $700 billion on a 10-year-equivalent basis. A separate scenario where deposits stayed at banks 10% less time implies a reduction of about $580 billion, expressed in the same 10-year-equivalent terms. These are scenario outcomes, not forecasts.
Key takeaways
Tokenized deposits may increase deposit “rate sensitivity,” making funding more mobile when higher yields appear elsewhere.
Instant settlement and automated transfers could shorten how long deposits remain at a given bank, reducing stability.
Dallas Fed researchers estimate large liquidity and balance-sheet capacity effects under two 10% sensitivity/time scenarios, though they are not direct lending cuts.
Banks are already building shared blockchain-style networks intended to move tokenized deposits within the regulated banking system.
Why instant settlement could destabilize funding
Levy and Ramaswamy’s central mechanism is straightforward: when settlement happens instantly, customers can react to rate differences faster. In traditional banking, moving deposits can take time, which can blunt how quickly funds shift across institutions. With programmable deposit tokens, deposits can be designed to integrate with automated processes—potentially powered by agentic artificial intelligence—that coordinate transfers with less manual friction.
The economists describe this as a shift in deposit behavior: deposits become more sensitive to interest rates and potentially less time-bound at a single bank. That matters because bank lending relies on relatively stable funding to support longer-duration assets.
Importantly, the authors stress that their numerical estimates are scenario-based. The changes are framed in terms of banks’ capacity to hold long-term loans and other assets, not as a direct “dollar-for-dollar” reduction in lending.
What the Dallas Fed scenarios imply for banks and borrowers
Under one scenario, the researchers assume deposits become 10% more sensitive to interest rates. Under another, deposits remain at banks for 10% less time. In both cases, they estimate reductions in banks’ capacity to hold long-term assets—about $700 billion and $580 billion, respectively, using 10-year-equivalent measures.
The analysis points to trade-offs banks could face when deposit stability declines. One response could be holding larger portfolios of highly liquid assets, such as reserves and US Treasurys, to better withstand faster outflows. Another could be leaning more on term debt to maintain the lending book.
But both adjustments can come with costs. Increasing reliance on wholesale funding or term debt typically raises funding expenses, and those higher costs can propagate into credit terms for borrowers—precisely the outcome Levy and Ramaswamy say could increase credit costs for US households and businesses.
From research to rollout: bank networks for tokenized deposits
The Dallas Fed concerns arrive as US banks accelerate plans for tokenized-deposit infrastructure. On Tuesday, 39 US state banking associations formed the BankChain Alliance, aiming to develop a nationwide network designed to support tokenized deposits, stablecoins, and automated settlement. Separately, The Clearing House is developing another network backed by major institutions including JPMorgan Chase, Bank of America, Citi, BNY, and Wells Fargo.
Banks have also begun connecting tokenized-deposit systems across organizations. On Aug. 20, Standard Chartered and HSBC completed a live cross-border transaction through Swift’s blockchain ledger. The reported design linked the two banks’ separate systems and recorded obligations on the ledger, with settlement still occurring via existing payment infrastructure.
Taken together, these efforts suggest that the industry is moving beyond pilots toward interoperable systems. From a policy perspective, that raises a key question Levy and Ramaswamy implicitly put on the table: if the plumbing makes movement faster and more programmable, will regulators and banks anticipate and manage the resulting funding dynamics?
Liquidity lessons from instant payments—what’s comparable and what isn’t
Levy and Ramaswamy cite Brazil’s Pix instant-payment system as a comparison point, while emphasizing it is not identical to tokenized deposits. Their reasoning is that instant-payment rails can change how quickly funds can move, which can alter deposit behavior and, in turn, banks’ balance-sheet choices.
A 2025 study by Brazil’s central bank found that heavier Pix use increased banks’ holdings of liquid assets and reduced credit intermediation. While that evidence does not prove the same outcome will occur with tokenized deposits, it offers a relevant reference for how faster payment flows can influence bank liquidity decisions.
For investors and lenders, the policy takeaway is less about whether tokenization will “help or hurt” lending in the abstract and more about how institutions will adapt their asset-liability management. If deposit mobility rises, market participants should watch for shifts in liquidity buffers, reliance on wholesale funding, and credit pricing—channels the Dallas Fed analysis highlights.
Going forward, the key uncertainty is how quickly tokenized deposit networks translate into real consumer and business deposit switching behavior. Readers should watch for regulatory guidance around tokenized deposit frameworks and for measurable changes in banks’ funding structures—especially whether liquidity reserves and term-debt reliance rise as these systems expand.
This article was originally published as Dallas Fed: Tokenized deposits may lift US borrowing costs on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

South Korean crypto exchange Bithumb has reportedly secured its first-instance court wins in two lawsuits seeking to recover proceeds from users who sold Bitcoin that the exchange mistakenly credited to their accounts. The rulings come as regulators continue to scrutinize the earlier operational lapse and Bithumb works to contain the financial impact.
According to a report by Chosun Biz, the Seoul Central District Court ruled in Bithumb’s favor in two of four unjust enrichment cases filed against users. The lawsuits involved different amounts: one ruling concerned a claim of 194 million won (about $140,000), while the other related to 5 million won (about $3,600). Two additional cases—seeking roughly 14.8 million won (about $10,700) and 500 million won (about $362,000)—remain pending, the report said.
Key takeaways
Bithumb has won first-instance rulings in two of four unjust enrichment lawsuits tied to a February Bitcoin crediting error.
The court decisions cover claims of 194 million won and 5 million won, while two other claims are still awaiting outcomes.
The lawsuits proceeded via service by public notice because standard delivery methods for court documents failed for the defendants.
The legal push targets proceeds from users who sold Bitcoin credited by mistake before affected accounts were frozen.
How the court cases connect to Bithumb’s February mistake
The underlying dispute traces back to an event on Feb. 6, 2026, during which Bithumb intended to distribute rewards denominated in Korean won. As described in earlier coverage by Cointelegraph, Bithumb said the error happened during a promotional activity: an employee allegedly selected Bitcoin as the payment unit instead of the intended fiat currency.
Rather than crediting the planned reward amount in won to 249 users, the exchange reportedly credited customer accounts with 620,000 BTC. At the time of the incident, that volume was valued at more than $40 billion, according to the reporting that followed the episode. Bithumb later stated that it recovered the vast majority of the mistakenly credited amount—618,212 BTC—leaving only a small residual shortfall.
However, the problem was not purely theoretical. Some users had reportedly already sold 1,788 BTC worth of the credited balances before Bithumb moved to freeze the affected accounts. It is those early sales that became the focus of Bithumb’s March litigation strategy.
What Bithumb is trying to recover through unjust enrichment suits
As reported by Cointelegraph, Bithumb filed four unjust enrichment lawsuits in March against users who sold the mistakenly credited Bitcoin and did not return the proceeds. The exchange’s approach, as characterized in that earlier reporting, was to seek monetary recovery from the sale proceeds rather than compel users to return Bitcoin itself.
The newly reported first-instance rulings therefore represent more than symbolic legal progress: they support Bithumb’s argument that users who benefited from the mistaken credits should compensate the exchange to the extent of the sold proceeds. Still, with half of the cases remaining pending, the broader extent of Bithumb’s ultimate recovery is not yet fully determined.
For users, the developments also underscore a practical risk in operational error scenarios. Even when a credit is unintended, actions taken immediately after the balance appears—such as trading or exchanging the credited asset—can later become a subject of legal dispute if the credit is subsequently reversed or invalidated.
Service by public notice highlights delivery hurdles in the lawsuits
Chosun Biz also noted that both of the cases that reached rulings advanced through service by public notice. The court reportedly used this method because it could not deliver the necessary documents to the defendants through ordinary channels.
That procedural detail matters because it can affect how quickly cases move and how defendants participate. While service by public notice is not unusual in certain jurisdictions when direct service fails, it can raise questions about whether defendants were fully informed in time to respond through standard procedures. The reported decisions, however, indicate the court proceeded to judgment nonetheless.
Regulatory pressure continues alongside the litigation
While the lawsuits play out in civil court, Bithumb is also facing ongoing regulatory scrutiny related to the February error. South Korea’s Financial Supervisory Service (FSS) reportedly investigated the incident, focusing on how the exchange could credit customers with Bitcoin it did not hold.
Cointelegraph previously reported that the regulator sent Bithumb an inspection opinion in early August, which marked the formal start of sanctions proceedings, though no final penalty had been announced at the time of that reporting. In the same earlier coverage, Cointelegraph said it reached out to the Financial Services Commission (FSC) for an update but did not receive a response by publication.
Separately, Bithumb has faced other legal and compliance challenges this year. South Korean police reportedly raided its offices in June as part of an investigation unrelated to the Bitcoin crediting error, involving allegations of favoritism related to lawmaker Kim Byung-ki. The company is also contesting a separate six-month partial business suspension over alleged Anti-Money Laundering violations; Cointelegraph reported that a Seoul court stayed the suspension in April pending the outcome of Bithumb’s challenge.
Taken together, the court rulings and the regulator’s continuing work indicate that Bithumb’s February incident is being treated as both a financial and governance issue—not merely a one-off operational glitch. For investors and market participants, the key question is whether Bithumb’s internal controls reforms and compliance measures will satisfy regulators after a mispayment of this magnitude.
What to watch next
With two remaining unjust enrichment lawsuits still pending, the next development will likely be whether Bithumb’s legal strategy yields further first-instance judgments and how those cases ultimately resolve. At the same time, market observers will continue to watch for any FSS sanctions outcome, since regulatory findings could shape how exchanges in South Korea tighten operational controls to prevent similar crediting errors.
This article was originally published as Bithumb Prevails in Two Lawsuits Over Mistaken Bitcoin Credits on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.