Crypto Breaking

Ekosistem Solana terus membaik dalam hal performa, didukung oleh volume transaksi yang tinggi, pendapatan aplikasi terdesentralisasi, dan meningkatnya jumlah aset tokenisasi. Meskipun SOL menghadapi fluktuasi harga, metrik blockchain menunjukkan bahwa ekosistem ini menarik pengguna dan investor.
Statistik jaringan terbaru menunjukkan Solana memiliki salah satu tingkat aktivitas blockchain tertinggi di antara blockchain lainnya. Sementara itu, sinyal teknis menunjukkan bahwa pembeli mencoba membentuk rebound jangka pendek.

New Hampshire’s executive council has rejected a proposal that would have allowed the state to issue $100 million in bonds backed by Bitcoin, dealing a setback to plans that would have extended the state’s embrace of digital-asset finance.
During a Wednesday hearing, the five-member panel voted 3-2 against the New Hampshire Business Finance Authority’s (BFA) request to issue BTC-backed bonds. The BFA had approved the issuance in November 2025, and the measure also had support from Governor Kelly Ayotte.
Key takeaways
The executive council voted 3-2 to block New Hampshire’s proposed $100 million Bitcoin-collateralized bond issuance.
CleanSpark was named as the entity providing Bitcoin collateral for the proposed vehicles issued by the BFA.
The decision follows New Hampshire’s May 2025 crypto reserve law, which set the stage for further state-level digital asset policy.
Moody’s assigned the proposed Bitcoin bond a provisional Ba2 rating in March, according to prior coverage.
Public debate included warnings from experts about risk to residents, even as parts of the crypto industry supported the concept.
Executive council vote stops BTC-collateralized bond plan
The rejection came after a split decision among councilors. According to the vote record, councilors Karen Liot Hill, Dave Wheeler, and Janet Stevens voted against the measure. Joseph Kenney and John Stephen voted in favor.
In the aftermath, state representative Keith Ammon criticized the outcome in a post on X, saying the decision was “extremely short-sighted” and urging the panel to “gather all relevant facts and information and reconsider their vote at a future meeting.”
Why New Hampshire’s crypto finance experiment mattered
The BTC-backed bonds were designed to be issued by the New Hampshire Business Finance Authority, with Bitcoin placed as collateral through CleanSpark. If approved, the proposal would have represented another step in New Hampshire’s evolving posture toward cryptocurrency after the state passed a crypto reserve law in May 2025.
Supporters in the broader crypto community had argued that Bitcoin-backed instruments could help mainstream digital asset exposure into traditional financial structures. However, opposition reflected concerns that such products may introduce risks that are difficult for retail and local stakeholders to evaluate—particularly in a vehicle intended to function like municipal-style financing.
Risk concerns and Moody’s provisional rating
Not all market participants viewed the plan as straightforward. Some experts warned against the proposal, describing it as carrying “substantial risk” for New Hampshire residents. Their objections centered on the potential volatility and custody-related complexities of using Bitcoin as collateral for public finance-style instruments.
Prior reporting also noted that Moody’s assigned the Bitcoin bond a provisional Ba2 rating in March, underscoring that the credit assessment—while not final—still considered meaningful risk factors. That provisional rating added another layer to the debate: even with an external rating process underway, the executive council ultimately concluded that the plan should not move forward at this time.
What happens next for digital asset policy in New Hampshire
With the council vote going against the issuance, New Hampshire’s near-term path to using Bitcoin within state-backed financial tools appears to narrow. The move also signals that political and regulatory appetite for crypto-linked public finance may vary sharply even when a state’s leadership has already supported broader crypto legislation.
For builders and investors tracking the state as a potential “proof of concept” location, the rejection is a reminder that approval for crypto-adjacent instruments depends not only on legislative frameworks, but also on executive-level risk decisions and the way collateral arrangements are perceived in practice.
Readers should watch whether the BFA revisits the structure of the proposed BTC-backed vehicles, seeks a revised vote, or instead shifts toward other compliance-forward approaches that align with both the state’s crypto reserve direction and the council’s risk concerns; the council’s split decision suggests that future proposals could still find a narrow path to approval if they address those objections directly.
This article was originally published as New Hampshire Council Rejects $100M Bitcoin Bond Proposal on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

JPMorgan analysts believe blockchain adoption that does not benefit public blockchains and their tokens poses a greater risk to Bitcoin than to Strategy and its BTC monetization program.
According to a report by the banking giant, investors view Strategy’s monetization program as a risk to the crypto market that may create periodic selling pressure.
Strategy Isn’t Bitcoin’s Biggest Risk
The analysts, led by managing director Nikolaos Panigirtzoglou, said that if tokenization, payments, and settlements happen outside public networks, the broader crypto ecosystem could see lower activity, liquidity, and weak capital inflows, which could put pressure on Bitcoin.
The analysts said, “We do not see Strategy as the main structural threat to bitcoin. In our view, the more important risk to bitcoin stems from the broader crypto ecosystem and from blockchain adoption within traditional finance continuing to develop in ways that bypass public permissionless networks.”
A Threat For Public Blockchains
The analysts highlighted that institutions have largely favored permissioned blockchains because of stronger know-your-customer (KYC), anti-money laundering (AML), and privacy controls. They also provide regulatory certainty, legal accountability, and throughput. This preference for permissioned blockchains creates increased competition for public blockchains like Ethereum.
They also pointed to the Bank for International Settlements’ (BIS) warning against using public permissioned blockchains for financial infrastructure due to concerns about scalability, governance, accountability, and settlement finality. BIS has promoted permissioned ledgers offering tokenized central bank money, commercial bank deposits, and tokenized assets within regulated departments.
Additionally, banks are building blockchain infrastructure, including tokenized deposits backed by existing banking regulations, deposit insurance frameworks, and customer relationships. Widespread adoption of tokenized deposits could reduce dependence on stablecoins in institutional payments and settlements. SWIFT’s recent launch of its own blockchain ledger and other central bank digital currency (CBDC) projects also strengthen regulated alternatives to public blockchains.
The analysts also noted that real-world asset (RWA) tokenization could remain within traditional financial infrastructure rather than move to public blockchains.
Public Blockchains To Take A Limited Role
Institutional adoption could push custody, settlement, issuance, and lifecycle management toward permissioned blockchains that are better suited to meet requirements around privacy, confidentiality, and governance. Meanwhile, public blockchains could see limited use for distribution, secondary trading, and interoperability. However, the prevalence of private and permissioned blockchains could relegate public chains to a secondary role.
The analysts also questioned the efficiency of public blockchain settlements, noting that netted settlement could reduce liquidity needs, improve capital efficiency, and help manage funding and operations. They also highlighted examples such as DTCC’s work developing tokenized workflows on permissioned infrastructure and selective collaboration with Stellar. DTCC has also piloted tokenized US securities using the Canton Network and ComposerX.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
This article was originally published as Blockchain Adoption Not Benefiting Public Chains And Networks Is A Bigger Threat To Bitcoin Than Strategy on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Digital Chamber telah mengajukan amicus brief melawan gugatan di New York yang meminta untuk memperoleh 39.069 alamat dompet Bitcoin yang dormant dengan estimasi 3,7 juta BTC. Mereka mengatakan bahwa kasus ini dapat mengganggu konsep hak milik digital dan penyimpanan mandiri digital (digital self-custody).
Tantangan Digital Chamber terhadap Klaim Kepemilikan Dompet Bitcoin yang Dormant
Asosiasi perdagangan blockchain mengeluarkan pernyataan pada Senin yang mengatakan bahwa putusan semacam itu akan menimbulkan kebingungan mengenai siapa yang memiliki koin digital dalam ekosistem mata uang kripto. Mereka mengatakan bahwa dompet Bitcoin yang tidak aktif dan menyimpan sendiri (self-custodied) bukanlah properti yang ditinggalkan. Kelompok tersebut mengatakan teori para penggugat “memecah prinsip-prinsip dasar kepemilikan aset digital dan melampaui pasar kripto.”

Key Points
Dogecoin price is trading below the resistance area marked by $0.07596 and $0.07652.
Bulls continue holding onto support at $0.07437, avoiding further losses.
Volume of trades keeps increasing despite poor price performance.
The breakout of support will bring $0.07290 into play as the next target.
A breakthrough of resistance at $0.07652 will negate the bearish view, taking price towards $0.07883.
Dogecoin Price Moves in Tense Decision-Making Zone
Dogecoin price is moving sideways as both buyers and sellers are locked in fierce battles for short-term control of the pair. Even though bulls have managed to hold vital support levels during the past trading days, sellers have not relented and are still sitting pretty near resistance levels.
Such an indecisive price action is indicative of a market waiting to confirm whether it wants to make any move. Indeed, the volume of trades has been growing, but there has been no price movement out of the defined support and resistance zones. Despite occasional short-term bounces, the overall situation remains tough as bearish momentum persists.
Bearish Structure Dominates Again
The latest technical assessment conducted by Finora AI still sees bearish signals for Dogecoin on an hourly time frame. It considers the $0.07596 to $0.07652 price zone as a powerful supply zone or fair value gap. In other words, a powerful selling sentiment can be seen around this level.
In fact, this resistance zone has already been rejected many times within the last several trading days. Each time when bulls attempted to break above this level, the price was met with increased selling pressure and the current bearish structure remains intact.
As per this assessment, traders must be looking for bearish confirmation before taking new short positions. The mere touch of this resistance zone doesn’t guarantee a reversal, and each failed attempt makes this probability higher. The report also states that the only way to invalidate this bearish sentiment is a decisive close above $0.07652. This will mean bulls have the upper hand again and the price might move towards its next upside target near $0.07883.
Support at $0.07437 Is Crucial
As of writing, Dogecoin is trading at $0.07515, which shows that the cryptocurrency has declined by about 1.2% in the past 24 hours. Despite the losses witnessed so far, buyers have been trying hard to defend the support area located between $0.07437 and $0.07450.
So far, each move below this area has seen bulls buying Dogecoin in bulk, thereby stopping the losses. Nonetheless, recoveries have not been impressive, indicating that bull power is still relatively weak.
According to Finora AI, $0.07437 represents the first target of the bears. In case sellers manage to push price below this support area, further declines towards the next level at $0.07290 can be expected.
On the other hand, Finora AI presents another scenario. If the price moves below the support briefly before bouncing back due to liquidity sweeps, there is the likelihood that bulls will push price back above the resistance located at $0.07596.
Trading Volume Keeps on Growing
While the price performance was not as impressive, market participation has become much stronger. The 24-hour trading volume of Dogecoin has gone up by about 32.38% and is now standing at close to $801 million. Increased volume when prices are falling usually shows that traders are actively positioning themselves on both sides of the trade.
In the meantime, the market cap of Dogecoin can be estimated at $12.82 billion, with its fully diluted valuation coming very close to this number because most of the tokens have already entered circulation. Around 170.68 billion DOGE are circulating right now. Higher volume shows that traders are still interested in waiting for the direction.
What Should Traders Look For Next
The upcoming trading sessions may be crucial in determining Dogecoin’s immediate trend. So long as price trades below $0.07652, sellers are still dominant and the bearish trend is expected to continue. Any breakdown below $0.07437 will raise the expectations of a decline in the crypto to the level of $0.07290.
On the other hand, any break above the level of $0.07652 will reduce the strength of the bearish trend. A strong bullish movement in the market may see buyers target the resistance at $0.07883.
Currently, the cryptocurrency is caught in a well-defined technical range. Traders will likely wait for a decisive breakthrough to get a clear direction of where the crypto is going next.
This article was originally published as Dogecoin Price Defends Support Despite Bear Defense on Resistance on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Key Insights
The XRP price remains above support, supporting bullish market sentiment.
Open interest and options activity indicate strong participation from derivatives traders.
Breakouts above resistance could allow bulls to advance further.
Xrp Price Steady As Bullish Sentiment Grows Stronger
As bullish momentum continues to grow stronger in both spot and derivative markets, XRP is drawing attention. The bulls have held key support levels, and participation in the futures and options markets suggests traders still see upside for the asset. While price action has cooled after the previous run-up, sentiment remains positive as investors wait for another breakout.
A balance of solid trading volumes, support, and derivatives participation has kept XRP among the most-watched cryptocurrencies. The key question now is whether the new buying pressure can help XRP break through its resistance levels.
Technical Formation Still Bullish
According to crypto analyst John Squire, there is an estimated 80% to 85% chance of seeing another leg higher. In his view, XRP is gathering steam ahead of a market catalyst that could propel the asset toward further gains.
On the one-hour chart, the technical picture remains bullish. The coin has traded sideways for several hours and has pushed above multiple resistance levels in a single move. The resistance area between $2.30 and $2.35 is now acting as support. If buyers can hold this level, the bullish structure should remain intact. The next technical target is around $2.40 to $2.50.
Consolidation Is A Good Indicator Of Stability In The Markets
After its recent run, XRP entered a phase of controlled consolidation rather than being sold aggressively. This is typically considered healthy because it allows the market to digest gains before moving higher again.
Initially, buying activity lifted XRP from around $1.11 to the $1.15 to $1.16 resistance zone. Despite profit taking that eventually slowed the advance, sellers did not apply enough downward pressure to reverse momentum. Instead, they formed higher supports in the $1.12 to $1.13 area.
Volume And Derivatives Back Up The Bullish Thesis
Past market experience suggests XRP’s most impressive upward moves have occurred alongside pronounced volume spikes. In previous breakout scenarios, trading volume surged, including one massive increase nearing $80 billion during the rally when XRP rose from roughly $1.00 to the $2.50 to $3.00 range.
Even though volume is lower right now, it is still higher than it was before the previous breakouts. This signals that overall market participation remains healthy despite the slowdown in price dynamics.
Derivatives data adds more support for the bullish case. According to Coinglass indicators, open interest increased by 1.48%, and options trading volume rose 29.23%. Options open interest also climbed by 6.90%.
Long positions outnumber shorts across major exchanges, suggesting there may be room for a new bull run as many traders position for it. If buying appetite increases and XRP breaks above resistance, a strong technical setup, greater derivatives involvement, and robust market activity could support the move.
This article was originally published as Xrp Price Seeks To Breakout As Bulls Build On Upward Momentum Thanks To High Derivatives Activity on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Kripto di India tampaknya belum bisa mendapat jeda. Perkembangan terbaru memunculkan ketidakpastian baru setelah Bank Cadangan India (RBI) mendukung kebijakan yang melarang mata uang kripto, sementara Direktorat Pajak Penghasilan menyoroti kekhawatiran kepatuhan.
Meskipun sikap India yang masih ambigu terhadap mata uang kripto, negara ini tetap menjadi salah satu pasar terkemuka dalam adopsi kripto di tingkat akar rumput. Negara tersebut memiliki sekitar 39 juta pengguna, dengan nilai aset yang sedikit di atas $2 miliar.
RBI Mendorong Larangan Kripto
Kebijakan kripto India bisa tetap membingungkan untuk waktu yang akan datang setelah RBI menegaskan dukungannya terhadap kebijakan yang condong pada pelarangan mata uang kripto. Menurut pejabat dan dokumen yang diakses oleh Reuters, bank sentral ingin bank-bank dan institusi keuangan lainnya dilarang terpapar kripto dan stablecoin privat untuk membatasi risiko bagi pemberi pinjaman dan sistem keuangan yang lebih luas.

Bitcoin (BTC) dan pasar kripto yang lebih luas kembali mendapat tekanan setelah Presiden AS Donald Trump memperingatkan kemungkinan tindakan militer baru terhadap Iran, sehingga secara efektif mengakhiri gencatan senjata rapuh yang berlaku sejak April.
Kryptocurrency unggulan itu anjlok hampir 2% pada Rabu, jatuh ke level terendah $61.453 sebelum akhirnya menetap di $62.237. Yang lain juga mengalami nasib yang sama buruknya bahkan lebih buruk, dengan Ethereum (ETH) turun 1,34% menjadi $1.732. Ripple (XRP), Solana (SOL), Dogecoin (DOGE), Stellar (XLM), Chainlink (LINK), dan token lainnya juga diperdagangkan di wilayah merah.

Pelemahan/resistansi Bitcoin yang menembus batas terus menjadi salah satu peristiwa teknikal yang paling banyak dipantau di pasar di tengah pekan yang krusial untuk BTC. Meski berkali-kali BTC telah mempertahankan level dukungan penting, kini mata uang kripto tersebut kembali menguat menuju level resistansi menurun yang sebelumnya membatasi reli-reli sebelumnya.
Meski ada tekanan beli positif yang terlihat belakangan ini, masih ada beberapa kekhawatiran dari para trader menjelang perkiraan terjadinya penembusan oleh BTC. Ada indikasi yang jelas bahwa Bitcoin sedang menuju titik penentu.

Pasar mata uang kripto mencatat kerugian besar setelah ketegangan geopolitik baru memicu penjualan luas di seluruh aset digital. Bitcoin turun di bawah level $62.000, sementara Ethereum dan XRP memperpanjang penurunan selama koreksi yang melanda pasar secara keseluruhan. Pada saat yang sama, posisi dengan leverage senilai hampir $450 juta dilikuidasi, mencerminkan volatilitas yang lebih kuat di antara mata uang kripto utama.
Bitcoin Memimpin Likuidasi Pasar Kripto
Bitcoin mencatat volume likuidasi terbesar setelah para penjual mendorong aset itu melewati batas di bawah $62.000. Penurunan ini terjadi setelah ketidakpastian geopolitik kembali menguat menyusul pernyataan baru dari Presiden AS Donald Trump yang menyatakan memorandum of understanding dengan Iran telah berakhir. Akibatnya, para trader mengurangi eksposur terhadap aset berisiko seiring meningkatnya volatilitas.

Backpack, a crypto exchange, has rolled out 24/7 trading for select tokenized US equities, giving international users a way to trade stocks tied to companies such as SpaceX, Micron, and SanDisk outside traditional market hours. The company said the initial rollout focuses on a limited basket of US listed names, with more planned later.
Backpack’s offering is designed to provide direct ownership of the underlying shares rather than synthetic market exposure. The exchange states that trades can be settled instantly and funded using either fiat or stablecoins.
Key takeaways
Backpack is enabling around-the-clock trading for tokenized US equities including SpaceX, Micron, and SanDisk.
The exchange says users receive direct ownership of underlying securities, not synthetic exposure.
Backpack also issues Solana-based tokenized versions that are transferable between wallets and can be redeemed 1:1 for shares through Backpack.
RWA.xyz data cited by Backpack’s announcement points to rapid growth in tokenized stocks over the past year.
Tokenized SpaceX shares reportedly became the most actively traded tokenized private company shares after launching in June, though Backpack did not provide volumes.
How Backpack’s 24/7 tokenized equities work
Backpack said its new product is built for continuous trading by offering tokenized equity access that runs 24 hours a day. For this first stage, the company highlighted that investors will hold the underlying securities directly rather than taking a derivative-style position.
According to Backpack, settlement is instantaneous and supported through both fiat payments and stablecoin funding. The initial catalog of equities is limited, but the company indicated it intends to expand the list beyond the initial names.
The exchange also emphasized an onchain angle: it provides Solana-based tokenized versions of the securities. These tokens are transferable between wallets, can be used in decentralized finance applications, and—crucially—can be converted 1:1 into the corresponding shares via Backpack.
Backpack further said the service is available to investors across more than 150 countries and regions and that tokenized equity trading is supported by liquidity sourced from traditional exchanges.
What’s notable about SpaceX volumes
In discussing early demand, Backpack said tokenized SpaceX shares became the most actively traded tokenized version of the private rocket and AI company after their launch in June. However, the exchange did not disclose trading volumes or offer direct comparisons to tokenized equity offerings from other platforms.
For traders and users, that matters less as a benchmark and more as a signal: among early private-company tokenized products, SpaceX appears to have attracted the most continuous activity. The lack of published volume figures leaves open how that activity compares on a liquidity and execution-quality basis versus peers.
Tokenized equities keep accelerating across the market
Backpack’s launch arrives as tokenized equities continue to expand within the broader onchain real-world assets (RWA) category. RWA.xyz data cited in connection with the release shows the tokenized stock market growing from roughly $379 million to $1.85 billion over the past year.
That growth is also described as accelerating in the near term. Over the last 30 days, the cited dataset reports distributed value rising 28.6% and monthly transfer volume increasing by more than 85% to $8.76 billion. Those figures suggest that tokenized stocks are not only attracting initial interest, but also seeing increasing throughput.
Crypto exchanges have played a major role in driving that adoption. The article notes that Kraken acquired xStocks developer Backed Finance in late 2025 and has since expanded the platform across its exchange. It also highlights that Bybit and Bitget have integrated xStocks, while Coinbase and Binance have rolled out tokenized equity offerings in recent months.
Traditional finance is joining the 24/7 shift
Alongside exchange-led launches, major traditional market infrastructure has increasingly engaged with tokenization. In March, the US Securities and Exchange Commission approved Nasdaq’s pilot to trade tokenized stocks alongside conventional securities on the same exchange. Earlier coverage also referenced the New York Stock Exchange’s partnership with Securitize to build a 24/7 platform for tokenized stocks and ETFs.
Infrastructure providers are moving too. The Depository Trust & Clearing Corporation (DTCC) announced plans to launch a tokenized securities service in October, following a pilot that involved more than 50 financial and crypto firms. While these developments are not identical to Backpack’s product approach, they collectively point to the same direction: tokenized securities are starting to move from experimental pilots toward broader market plumbing.
For investors, the practical difference between “traditional securities access” and “tokenized securities access” often comes down to trading hours, settlement pathways, and how easily assets can be used in onchain workflows. Backpack’s framing—instant settlement, direct ownership, transferability, and redemption 1:1—targets those friction points directly.
Even so, readers should watch how liquidity holds up as more equities are added. The industry’s growth indicators are compelling, but questions remain about depth across different issuers, redemption mechanics in stressed conditions, and the consistency of pricing when token markets run continuously.
This article was originally published as Backpack Enters 24/7 Tokenized Equities as It Targets Global Stock Trading on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Stablecoin semakin bertindak seperti infrastruktur khusus, bukan sekadar pengganti langsung. Data penggunaan terbaru yang disorot oleh Dune menunjukkan bahwa Tether’s USDT dan Circle’s USDC semakin mengkonsolidasikan diri di sekitar peran yang berbeda di ranah on-chain dan dunia nyata—USDT cenderung masuk ke pembayaran komersial, sementara USDC tetap sangat terkait dengan aktivitas keuangan terdesentralisasi (DeFi).
Di saat yang sama, kerangka MiCA Eropa tampaknya mempercepat permintaan untuk stablecoin yang dipatok terhadap euro, sementara keuangan tradisional terus menunjukkan minat yang semakin besar terhadap tokenisasi. Di tempat lain dalam Crypto Biz, penjualan Bitcoin terbaru dari Strategy untuk mendanai dividen kepada pemegang saham telah membuka kembali perbincangan seputar sikap perusahaan yang “tidak pernah menjual”, dan Vanguard telah bergerak lebih dekat ke aset digital dengan merekrut kepala divisi tersebut.

Pantulan terbaru Bitcoin menuju kisaran pertengahan 60.000 dolar telah menarik perhatian baru dari analis on-chain, dengan komentar terbaru yang mengarah pada aktivitas paus AS sebagai pendorong awal momentum dari sisi permintaan. Secara terpisah, Bitcoin Suisse menyoroti tanda-tanda bahwa kondisi pasar mungkin sedang bergeser—meskipun kehati-hatian yang terus berlanjut terlihat pada arus dana ETF spot Bitcoin AS.
Menurut unggahan blog hari Jumat dari kontributor CryptoQuant Burak Kesmeci, "Coinbase Premium" menunjukkan bukti menguatnya perilaku beli dari sisi penawaran, bahkan ketika pembacaan yang lebih luas untuk indeks masih berada di bawah level netral.

The U.S. Federal Reserve has named Marc Andreessen, a co-founder of Andreessen Horowitz (a16z), to help lead a new task force examining how artificial intelligence and other general-purpose technologies could reshape productivity and jobs.
Alongside Andreessen, the Fed’s Productivity and Jobs task force will include Charles I. Jones of Stanford University and Asha Sharma, a Microsoft executive vice president and Xbox CEO. The group’s mandate is to evaluate potential employment and productivity effects from technologies such as AI to inform future central bank policymaking. The Fed outlined the appointments in a Thursday press release.
Key takeaways
The Fed is forming a Productivity and Jobs task force to study how AI and other broad technologies may affect employment and productivity.
Marc Andreessen joins economist Charles I. Jones and Microsoft/Xbox executive Asha Sharma as part of the new working group.
The appointments come under a wider task-force overhaul led by Fed Chair Kevin Warsh, focused on several areas of monetary policy conduct.
Fed officials remain split on whether AI will ultimately be disinflationary through productivity gains or inflationary via near-term spending.
A new Fed task force for AI-era labor and output
According to the Fed, the Productivity and Jobs task force will assess how general-purpose technologies—including AI—may influence both labor markets and economic output. That focus matters because productivity trends can affect how quickly the economy can grow without reigniting inflation, while employment dynamics can influence demand, wage pressures, and the broader inflation outlook.
Andreessen will serve as one of the task force’s leaders, joining Charles I. Jones and Asha Sharma. Jones is a Stanford economics professor currently on leave at Anthropic. Sharma brings experience from large-scale technology and consumer platform operations through her role at Microsoft and Xbox. The Fed described the effort as a way to strengthen its policymaking inputs as new technologies evolve.
Warsh’s broader push: five task forces across policy operations
The Productivity and Jobs group is one of five task forces launched under new Fed Chair Kevin Warsh. In separate workstreams, the other teams will examine policy communication, balance sheet policy, data quality, and inflation frameworks.
Warsh revealed the leadership-driven reorganization and the creation of the five task forces during a June 17 press conference. He characterized the topics as timely and consequential and said each group would be independently led by leading experts “both inside and outside the economics profession.”
The chair also indicated the Fed intends to publish policy statements and guidance in shorter, clearer language—an operational shift that could affect how markets interpret Fed decisions and guidance going forward.
How Fed thinking on AI inflation differs
The Fed’s decision to dedicate a task force to technology and jobs arrives amid an ongoing debate inside the central bank about AI’s macroeconomic effects—particularly whether AI is ultimately inflationary or disinflationary.
In a May 27 speech, Governor Lisa Cook said she expects AI to further “boost productivity growth,” contributing to her view that GDP will grow robustly. At the same time, she noted AI carries the risk of “higher inflation,” reflecting concerns that the near-term costs of adopting and building AI infrastructure could feed into prices before productivity gains fully materialize. (Governor Cook’s remarks were delivered in a May 27 speech.)
Former Fed Chair Jerome Powell has also pointed to the inflationary pressure that can come from data center spending. In statements from March 2026 referenced by the Fed, Powell said that data center investment is putting pressure on goods and services and is “probably pushing inflation up at the margin.” The implication is that even if AI later reduces costs through productivity, the path to that outcome may involve heightened demand in the near term—complicating monetary policy timing.
Taken together, the internal split underscores why a labor-and-productivity task force could be significant: employment effects can influence wage growth and consumption, while productivity trajectories influence the economy’s supply side. AI adoption may therefore shift both the demand and supply sides of the inflation equation—just not necessarily in the same direction or at the same speed.
What Andreessen’s appointment signals for the Fed’s tech outreach
Marc Andreessen co-founded Andreessen Horowitz, which the Fed-focused article context describes as a major backer of both crypto and AI startups. While the Fed’s task force is not a statement of endorsement for any technology, the appointment highlights how the central bank is increasingly drawing on expertise from the technology and investment ecosystem as AI moves from research to large-scale deployment.
The connections between Warsh and Andreessen also extend beyond this new role. Earlier reporting tied Warsh and Andreessen to their days at Stanford in the early 1990s, and a CNBC interview from April 2026 cited Warsh describing both Andreessen and Palantir’s Peter Thiel as friends from college. Andreessen also publicly backed Warsh’s Fed chair nomination in a Jan. 30 X post following the nomination, writing that he has known Warsh for 30 years and that Warsh combines insight in economics and finance with an understanding of technology and business. Those remarks were posted by Andreessen on X at the time and are linked through the original coverage (see this post).
For investors and market participants, the more practical takeaway is not personal networking but the Fed’s evolving approach to gathering inputs: a central bank tasked with managing inflation and employment in a high-tech economy may find it increasingly difficult to rely only on traditional econometric relationships, especially when the cost structure and labor implications of AI can evolve quickly.
Going forward, the main thing to watch is how the Productivity and Jobs task force translates its findings into usable policymaking inputs—particularly whether it can better distinguish between near-term price pressures tied to AI investment and longer-term disinflationary effects driven by productivity. With the Fed already split on AI’s direction of travel, the task force’s work could become a key reference point for how officials assess the inflation outlook in the months ahead.
This article was originally published as Andreessen Appointee Brings Fed Role to A16z Amid AI Policy Shift on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Jaksa AS telah mengajukan dakwaan pidana baru terhadap Rossen Iossifov, warga negara Bulgaria yang telah menjalani hukuman penjara federal, dengan tuduhan bahwa ia membantu memindahkan dan mencuci sekitar $290.000 dalam mata uang kripto yang terkait dengan perintah perampasan oleh pengadilan. Departemen Kehakiman mengatakan dugaan perbuatan itu terjadi pada Januari 2024, setelah sebuah pengadilan federal memerintahkan aset dirampas menyusul vonis sebelumnya terhadap Iossifov.
Menurut DOJ, kripto tersebut disimpan dalam akun Kraken yang terdaftar atas nama Iossifov dan telah dibekukan selama penyidikan. Para jaksa menuduh bahwa ia dan pihak lain menarik dan memindahkan aset menggunakan layanan mixing dan bursa kripto untuk mengaburkan jejak—sebelum pemerintah dapat mengambil alih aset tersebut.

Major US investment banks are tightening internal rules around prediction market trading, according to reporting by CNBC. The move is driven by concerns that employees could use nonpublic information when trading event-based contracts—an issue that has increasingly drawn regulatory and political scrutiny in the United States.
CNBC said Goldman Sachs has reportedly banned employees from trading certain event contracts tied to the bank, including those related to financial markets, macroeconomic developments, elections, and geopolitics. Meanwhile, Morgan Stanley and Bank of America have also outlined or are preparing employee restrictions, reflecting how quickly predictive markets have moved from a niche concept to an area regulators and policymakers are willing to investigate.
Key takeaways
Goldman Sachs has reportedly restricted employee trading on bank-specific event contracts after insider-trading concerns resurfaced.
Other large banks are also implementing or updating internal prediction market policies, signaling a broader compliance shift.
US oversight pressure has been building through enforcement actions and proposed legislation targeting political prediction market activity.
Polymarket is seeking regulatory permission for margin trading for US users, which could expand participation but also raise compliance considerations.
Why banks are moving to restrict prediction market trading
Prediction markets allow participants to buy and sell contracts tied to real-world outcomes, including political and macroeconomic events. The very structure that makes these platforms useful—payoffs linked to information—also creates a perceived risk when traders have access to material nonpublic information through their day jobs.
CNBC’s report frames the banking restrictions as a response to that risk. In Goldman Sachs’ case, the reported ban covers event contracts “specific to the bank,” spanning topics such as financial markets, macroeconomic events, elections, and geopolitics. CNBC attributed the details to people familiar with the matter, and said Goldman declined to comment when approached by Cointelegraph.
Morgan Stanley reportedly has policies governing employees’ prediction market activity, according to unnamed sources cited by CNBC. Bank of America, according to the same report, is in the process of issuing additional prohibitions for employees regarding trading on prediction markets.
Regulators and lawmakers have been escalating insider-trading concerns
The banking clampdown comes amid heightened attention on insider trading risks in prediction markets. Earlier this year, the US Justice Department and the Commodities Futures Trading Commission (CFTC) said in a case involving Google software engineer Michele Spagnuolo that she profited $1.2 million on Polymarket after accessing nonpublic information at work, according to Cointelegraph coverage.
At the same time, political institutions have begun focusing on whether certain government-connected participants should be allowed to trade on outcomes connected to public policy. Cointelegraph also reported that White House attention and US lawmakers’ activity led to proposed legislation aimed at restricting political prediction market trading by government officials.
In mid-June, Wisconsin Representative Bryan Steil introduced a law intended to prevent certain public officials from “wagering on public policy issues and political outcomes,” according to Cointelegraph reporting. The proposal, as described in the coverage, does not single out lawmakers in the White House.
One earlier flashpoint underscored how quickly these platforms can intersect with real-world political events. In January, Cointelegraph reported that a soldier was charged over an alleged bet of roughly $400,000 on Polymarket tied to the removal of Venezuelan President Nicolás Maduro—a case that, while distinct from bank policies, helped intensify scrutiny of betting activity around consequential political outcomes.
Polymarket pushes for US margin trading approval
While banks focus on restricting internal trading, the prediction market ecosystem itself continues to pursue broader access in the US. Polymarket is seeking regulatory approval to offer margin trading to US users, a feature that would allow participants to place trades with less upfront capital, potentially increasing volume and market participation.
According to a July 3 filing with the National Futures Association (NFA), Polymarket applied to become a futures commission merchant through its affiliate, Coming Home GBA LLC. This step is part of the platform’s effort to expand its US footprint. Cointelegraph reported reaching out to Polymarket for comment on the proposal.
The filing process reflects a key regulatory distinction: Polymarket also needs authorization from the CFTC to enable non-fully collateralized trading for users. Until those approvals are in place, the ability to scale using margin remains conditional.
Polymarket’s competitor has already moved ahead on this specific capability. Cointelegraph reported that Kalshi’s affiliate, Kinetic Markets LLC, received an NFA authorization in March, allowing it to offer margin trading in the US. That earlier grant may shape expectations among users and market participants for how quickly Polymarket’s own application could progress.
Market activity keeps setting records as oversight tightens
Regulatory scrutiny has not stopped growth in prediction market usage. Data cited by Dune shows Polymarket hit a record $713 million in daily taker volume on June 20. Cointelegraph reported that the milestone arrived more than a week after the June 11 start of the World Cup, highlighting how major televised events can drive demand for outcome-based trading.
Other venues have also recorded strong figures tied to the same global tournament cycle. Cointelegraph reported that Kalshi posted a record monthly trading volume of nearly $9.4 billion in June, again attributing activity to the 2026 FIFA World Cup’s role in fueling participation across prediction markets.
Importantly, these growth indicators illustrate a tension that market participants will likely need to navigate: demand continues to rise, yet institutions—both regulators and traditional finance firms—are increasingly focused on information risk, conflicts of interest, and compliance controls.
For traders and builders, the next signal to watch is whether Polymarket’s margin-trading application advances in the NFA/CFTC process and how banks operationalize their restrictions in practice—particularly which categories of contracts and employee roles are treated as higher risk. As enforcement remains on the table and lawmakers continue to consider targeted rules around political outcomes, internal bank policies may become an increasingly common feature of the market landscape.
This article was originally published as Wall Street Banks Tighten Prediction Market Rules Over Insider Concerns on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Penambang Bitcoin yang terdaftar di AS dan penyedia layanan hosting TeraWulf dilaporkan tengah menjajaki paket pembiayaan utang besar yang ditujukan untuk memperluas kampus Justified Data di Kentucky, sebuah lokasi yang terkait dengan kebutuhan komputasi AI jangka panjang melalui perjanjian sewa dengan Anthropic.
Menurut laporan Bloomberg pada hari Kamis, chief financial officer TeraWulf Patrick Fleury mengatakan perusahaan diperkirakan akan mencari pendanaan utang sebesar $3,5 miliar, dengan investment bank Morgan Stanley memimpin upaya tersebut. Pendanaan itu disebut-sebut berpotensi mencakup pinjaman beragunan (leveraged loans) dan obligasi berimbal hasil tinggi—langkah pertama TeraWulf masuk ke pasar pinjaman beragunan.

Metaplanet, a Japan-based investment firm best known for building a large Bitcoin reserve, says it is commissioning a joint study into Bitcoin-backed digital credit products in the country. The research ties together Metaplanet’s securities arm, Metaplanet Securities, stablecoin issuer JPYC, and tokenization infrastructure provider Progmatia, with the goal of testing whether Bitcoin can serve as collateral and credit enhancement for tokenized credit instruments.
In a filing shared by Metaplanet on Friday, the company outlined a concept in which BTC would be used alongside JPY Coin (JPYC)—a Japanese yen-pegged stablecoin—for settlement and payments. Security tokens would then be used to manage holder rights. Metaplanet emphasized that the work is exploratory, and that no product launch is planned as part of the study.
Key takeaways
Metaplanet and partners are studying whether BTC can function as collateral and credit enhancement for blockchain-based corporate credit instruments in Japan.
The proposed settlement flow uses BTC collateral plus JPYC for payments, while security tokens would represent and govern holder rights.
The study focuses on design tradeoffs, proof-of-concept testing, and the feasibility of issuance, but Metaplanet said no issuance decisions have been made.
The initiative aligns with Metaplanet’s “Project Nova,” which aims to expand the firm from a Bitcoin treasury model into Bitcoin-centered financial services.
Tokenized real-world asset (RWA) data indicates growing investor interest in on-chain credit products, including asset-backed credit and tokenized corporate credit.
Bitcoin as collateral for tokenized corporate credit
At the core of Metaplanet’s joint study is a credit structure that blends traditional credit logic with on-chain settlement. According to Metaplanet, the research will evaluate whether Bitcoin can be used not only as collateral but also as a credit enhancement mechanism for digital corporate bonds and other credit instruments.
The company says the envisioned products would be designed for 24/7 accessibility, on-chain settlement, and daily interest accrual for holders. Rather than relying on conventional market hours and settlement cycles, the concept targets continuous operation on a blockchain ledger—an area that could matter to both issuers and investors if it translates into smoother servicing and potentially faster distribution.
Metaplanet also made clear that the study is intended to assess feasibility rather than to announce a new security offering. It highlighted that, while the research will explore product design and proof-of-concept options, nothing has yet been determined regarding future issuance.
JPYC and security tokens: how settlement and rights would work
One of the more specific parts of Metaplanet’s proposal is the role of JPYC and security tokens in the credit system. The study concept places JPYC at the center of settlement and payments, meaning the yen-pegged stablecoin would be used to handle value transfers associated with the credit instrument.
Separately, Metaplanet’s plan uses security tokens to manage holder rights. That design choice is important because credit instruments typically require clear rules around ownership, entitlements, and any rights attached to the underlying obligation. By mapping those rights onto a tokenized representation, the study aims to test whether a more automated rights-management layer can coexist with a collateral model anchored in Bitcoin.
Metaplanet’s filing also frames the project around “credit enhancement” and collateralization mechanics. That distinction matters: collateral alone can support repayment, but credit enhancement often targets investor risk by adding extra protection or structuring features. The study’s focus suggests Metaplanet is trying to answer a practical question for tokenized credit markets—how to translate Bitcoin’s volatility into a system that investors can underwrite.
Project Nova and a shift from treasury to financial services
Metaplanet’s study is not presented as a standalone research project. The company linked it to Project Nova, a broader initiative it announced earlier in 2026 to build a Bitcoin financial services ecosystem in Japan. Under that framing, Metaplanet portrays Bitcoin as “productive collateral on the balance sheet,” rather than a held asset with only treasury-oriented value.
The company says Project Nova is designed to deliver new yield products and capital market access to both retail and institutional investors in Japan, explicitly bridging conventional securities markets and digital asset markets. In that context, the joint study on Bitcoin-backed digital credit appears to be a logical next step: if Bitcoin can support structured credit products, it could become a foundation for generating returns rather than simply holding exposure.
Metaplanet has been actively reshaping its business infrastructure around that ambition. In June, it announced plans to acquire Siiibo Securities and rename it Metaplanet Securities. Earlier, in March, it established a new venture firm, Metaplanet Ventures, to support Bitcoin ecosystem development in Japan.
Why tokenized credit is gaining attention
Beyond Metaplanet’s internal strategy, the company’s push toward tokenized credit aligns with broader momentum in the tokenized real-world asset sector. RWA.xyz data referenced by Metaplanet shows the $33 billion tokenized RWA market, with asset-backed credit identified as the third-largest segment at $2.3 billion and tokenized corporate credit as the fifth-largest segment at $1.76 billion.
Even so, the joint study’s emphasis on proof-of-concept and product design underscores that tokenization alone does not guarantee credit market viability. The biggest unresolved issues—likely including investor protections, collateral management, settlement mechanics, and how risk is reflected in the structure—are precisely what the study says it will evaluate.
Metaplanet’s approach also echoes a recurring theme in institutional Bitcoin playbooks: using structured instruments to raise or allocate capital efficiently. Earlier coverage by Cointelegraph noted that Strategy—described in that reporting as the largest corporate Bitcoin holder—has relied on “digital credit” instruments such as STRC preferred stock to support its Bitcoin acquisition strategy. Metaplanet’s current proposal does not claim a direct match to that model, but it signals that Japanese corporate crypto players are exploring similar concepts adapted to local capital markets and on-chain settlement.
For investors, traders, and market builders, the key question is whether Bitcoin-backed digital credit can be made robust enough for real issuance—especially given Bitcoin’s price volatility and the complexity of credit enhancement. Metaplanet’s study results, and any subsequent decision on issuance, will be the next developments to watch, along with how JPYC settlement and security-token rights management perform in practice.
This article was originally published as Metaplanet Tests Bitcoin-Backed Digital Credit With JPYC in Japan on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

SWIFT says its blockchain-based ledger for financial messaging is now ready for initial use, marking a meaningful step toward giving banks a more clock-agnostic way to move value across borders. After nine months of development, SWIFT announced that 17 major institutions are preparing to pilot cross-border payments using tokenized bank deposits on the platform, with an initial controlled go-live phase expected to follow.
According to SWIFT, participating banks—including HSBC, Citigroup, BNP Paribas, UBS, ANZ, DBS, and Standard Chartered—will test how tokenized deposits can support 24/7 cross-border payments, including overnight and weekend transactions, while keeping the compliance, credit, risk, and control standards built into existing payment processes.
Key takeaways
SWIFT’s blockchain ledger is reported as ready for initial use after nine months of development.
17 banks plan to pilot cross-border transfers using tokenized bank deposits on the SWIFT platform.
The initiative targets 24/7 settlement behavior, extending payment availability beyond traditional banking hours.
SWIFT emphasizes that the approach aims to preserve existing compliance, credit, risk, and control requirements.
SWIFT indicated further expansion of the ledger’s functionality and availability after the first limited rollout.
From messaging to tokenized deposits
SWIFT’s role in global finance is largely about connectivity: its interbank messaging network links more than 11,500 banks and financial institutions across over 200 countries and territories. While SWIFT already supports rapid message delivery on its existing rails—SWIFT said 75% of payments reach the beneficiary bank within 10 minutes, often in seconds—the new effort focuses on what happens when settlement needs to operate regardless of the time of day.
The company’s announcement frames the ledger as an extension of SWIFT’s “resilient global platform,” intended to help “regulated digital assets” move across borders with greater velocity and flexibility. In remarks shared in the announcement, Thierry Chilosi, SWIFT’s chief business officer, said the ledger allows tokenized value to move internationally while maintaining the same levels of resiliency, security, and compliance that global finance expects.
For market participants, the practical significance is not just the use of blockchain, but the target operational outcome: keeping established governance structures while enabling payment flows that are less dependent on bank working hours.
Why the pilot matters for cross-border payments
In SWIFT’s description, the pilots are designed to test cross-border payment capabilities using tokenized deposits, without discarding the compliance and risk frameworks embedded in current processes. That emphasis is important because many tokenization efforts struggle with the same central question: how to integrate new settlement mechanics into existing regulatory and institutional controls.
SWIFT said the ledger will allow participating banks to support 24/7 cross-border payments, explicitly including overnight and weekend activity. That directly addresses a longstanding operational bottleneck in traditional payment infrastructure, where cut-off times and settlement windows can constrain responsiveness—especially for time-sensitive transfers.
It also places SWIFT in the middle of a broader shift in financial infrastructure: banks are increasingly exploring tokenized assets and settlement, but they want that evolution to happen within trusted, regulated systems rather than as isolated experiments.
Part of a wider push toward tokenized settlement
SWIFT’s move lands amid a series of parallel developments from major financial players that point to renewed momentum in tokenized deposits and securities infrastructure.
Earlier, a consortium of banks—including JPMorgan Chase, Bank of America, Citibank, Barclays, BNY, and Wells Fargo—announced plans to launch a tokenized deposit network in the first half of 2027. The Clearing House would operate the network and connect traditional payment rails with digital asset infrastructure to enable 24/7 settlement.
In the markets sphere, the New York Stock Exchange previously partnered with tokenization platform Securitize to build blockchain-based infrastructure for tokenized stocks and exchange-traded funds. Separately, the parent company of the NYSE, Intercontinental Exchange (ICE), has also shared plans for a tokenized securities venue aimed at 24/7 trading, instant settlement, stablecoin-based funding, and onchain settlement.
Taken together, these efforts suggest a sector-wide attempt to reduce the friction between “tokenized” workflows and the operational realities of regulated financial institutions. SWIFT’s pilot is another data point in that transition, particularly because SWIFT is not an issuer or a single-venue market—it is the messaging backbone for interbank communication globally.
What to watch next after initial go-live
SWIFT said it plans to expand the ledger’s functionality and availability after the initial controlled go-live phase. That sequencing matters: a controlled rollout typically helps institutions validate technical performance and governance requirements before scaling participation or expanding use cases.
For users ranging from treasury teams to payments operators, the next milestones will likely center on practical interoperability—how efficiently tokenized deposit transfers work across participating institutions and how smoothly the ledger integrates into existing operational and compliance routines. Investors and builders in digital asset infrastructure will also want to monitor whether SWIFT’s ledger becomes a repeatable baseline for cross-border settlement beyond the pilot group, or whether it remains a narrow-use experiment before wider adoption.
In the near term, the most important question is whether the pilots can demonstrate that 24/7 tokenized cross-border payments can coexist with established financial controls at scale. If SWIFT’s expansion follows the same logic, the ledger could become a significant bridge between traditional messaging standards and the settlement expectations of modern commerce.
This article was originally published as Swift Starts Blockchain Ledger Pilot for Tokenized Deposits With 17 Banks on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Ether is already seeing tangible activity from Robinhood’s newly launched layer-2 network. According to Token Terminal, more than $70 million worth of ETH has been bridged to Robinhood Chain within its first week, underscoring how quickly large user platforms can route on-chain liquidity into an Ethereum scaling environment.
Robinhood Chain launched on July 1 as an EVM-compatible, Arbitrum-based layer-2 that uses ETH as its native gas token. The network also positions itself as “AI-native and purpose-built for real-world assets,” while Robinhood continues expanding tokenized stock offerings to customers across more than 120 countries—an effort that has contributed to growing interest in blockchain rails for traditional market exposure.
Key takeaways
Token Terminal reports over $70 million of ETH bridged to Robinhood Chain in the first week, signaling fast liquidity onboarding.
DefiLlama data shows Robinhood Chain TVL at 46,748 ETH (about $83 million at current prices), with Thursday inflows alone totaling 31,855 ETH (about $55 million).
Early usage appears ETH-denominated, with Uniswap founder Hayden Adams saying most activity uses ETH as the primary trading and settlement “base pair.”
Analysts argue the structure could create recurring ETH demand via gas usage on an Arbitrum-based network tied to Ethereum settlement.
Even with bullish network metrics, ETH remains in a weak price regime, trading near multi-year bear market lows after a sharp decline from its 2025 peak.
ETH inflows accelerate after Robinhood Chain’s launch
Robinhood Chain’s first-week numbers suggest the network is attracting meaningful capital flow almost immediately. Token Terminal said the amount of Ether bridged to the chain surpassed $70 million within seven days of launch. In a Thursday post, Token Terminal also argued that if adoption continues, the chain could become “a meaningful new source of demand for ETH.”
The mechanism matters for Ethereum watchers. Robinhood Chain uses ETH as the gas token, meaning everyday on-chain activity on the network directly connects to ETH consumption. Unlike layer-2 designs that rely on alternative gas assets, an ETH-native setup aligns the economics of user transactions with the asset traders typically benchmark on.
On-chain engagement: users, revenue, and locked value
Token Terminal’s view of network performance extended beyond bridged amounts. It reported that Robinhood Chain reached 194,000 daily active users within its first week, while daily revenue grew to $39,000—an annualized run rate of roughly $14 million at the time of reporting.
DefiLlama’s protocol page for the Robinhood Chain bridge shows figures broadly consistent with the “fast start” narrative. It placed total value locked at 46,748 ETH, worth around $83 million based on prevailing market prices, and recorded Thursday inflows of 31,855 ETH (about $55 million). While TVL can be influenced by multiple factors, the magnitude of daily inflows is notable for a chain so early in its lifecycle.
Hayden Adams, Uniswap founder, added another useful datapoint: he said most activity on Robinhood Chain is ETH-denominated. In his description, ETH functions as the base pair for trading, the highest volume asset, and the gas token used to pay for blockspace. He also said ETH is burned on Ethereum layer 1 to cover data storage fees, tying part of the L2’s operational cost back to the mainnet.
Why investors are watching the “L2 flywheel”
The recurring-demand argument is at the center of the bullish reaction from several quarters. Andri Fauzan Adziima, research lead at Bitrue Research Institute, told Cointelegraph the early volume “validates the L2 flywheel” and characterized it as a “meaningful new demand sink.” His broader point was that when ETH is the native gas token on a high-velocity Arbitrum-based network, transactions can translate into ongoing, measurable demand while capital remains locked and a large user base gets onboarded.
“By using ETH as the native gas token on this high-velocity Arbitrum L2, every transaction I track creates direct, recurring demand while locking capital and onboarding Robinhood’s massive user base.”
Tim Sun, a senior researcher at HashKey Group, similarly framed the development as structurally positive for ETH. He emphasized that Robinhood Chain’s use of ETH for gas is the most direct benefit: as bridged assets, wallet activity, and on-chain transactions increase, new demand for ETH is generated.
Sun also pointed to a larger strategic implication. He said the deeper significance is not only how much gas is consumed, but that Robinhood is building its own on-chain financial ecosystem within the Ethereum network. In his view, this reinforces Ethereum mainnet’s role as the settlement layer and liquidity foundation for tokenized assets.
This matters because much of Ethereum’s long-term value thesis is tied to its function in real-world asset tokenization. The article from RWA.xyz cited in the source indicated that Ethereum and its layer-2 ecosystem together hold more than 50% market share in that segment, and the Robinhood Chain launch could further strengthen Ethereum’s position if it successfully attracts tokenized RWA usage at scale.
Tokenized assets meet an institutional-grade user pipeline
Robinhood’s involvement provides an important angle for the market: distribution. The platform has offered tokenized stocks to customers in more than 120 countries, reflecting sustained demand for tokenized exposure to US equities. If tokenized assets continue moving onto blockchains, networks that integrate ETH-based settlement and on-chain execution can capture both trading and transaction demand.
The tension for Ethereum traders is that network fundamentals do not always translate into immediate price action. ETH prices ticked up on Friday to $1,775, but it still trades near multi-year bear market lows—down 64% from its August 2025 peak, according to the figures referenced in the source. That means the key question for participants is whether early technical traction evolves into durable usage that can influence broader market expectations.
Bulls argue Ethereum’s growth path rests on multiple stacked drivers, including RWA tokenization, agentic AI payments, institutional adoption, and ongoing scaling upgrades. The source also pointed to Glamsterdam, expected before the end of 2026, as a network upgrade that could increase layer-1 capacity—an important piece of the scalability puzzle for any ecosystem hoping to absorb additional tokenized asset demand over time.
For now, the focus should stay on measurable signals: whether Robinhood Chain’s ETH-denominated activity sustains beyond the initial launch window, how TVL and daily revenue trend week-to-week, and whether tokenized asset usage meaningfully increases the number of users interacting with on-chain contracts.
This article was originally published as Robinhood Chain Bridges $70M+ ETH in First Week, Data Shows on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.