Ethereum backers launch nonprofit to lead institutional adoption efforts

An Ethereum founder and some of its biggest treasury holders are behind a new independent nonprofit launched to coordinate the blockchains institutional outreach, underscoring the ecosystems push to attract more banks, asset managers and financial institutions as competition from rival blockchains intensifies.  The nonprofit, Ethereum Institutional, was introduced on Wednesday with backing from Ether (ETH) treasury companies BitMine Immersion Technologies and SharpLink, as well as blockchain co-founder Joe Lubin and other contributors. It plans to expand beyond New York, London, Hong Kong and Singapore into additional financial hubs while offering education, standards development, industry research and institutional events.  In a social media post announcing the launch, Ethereum Institutional said the ecosystem has lacked “a credible, independent front door” for engaging financial institutions, arguing that such a role is needed to accelerate institutional adoption.Source: Ethereum Institutional on X.com  The launch comes as Ethereum continues to dominate the markets for stablecoins and tokenized real-world assets (RWAs), even as rival blockchains step up efforts to attract institutional users. According to Token Terminal, Ethereum hosts nearly 58% of the tokenized RWA market. Data from DeFiLlama also shows the network accounts for roughly half of the $311 billion stablecoin market.  Although competition is intensifying, Ethereum remains the dominant blockchain

07-02انڈسٹری

Robinhood links with dYdX Labs to launch new DEX Arcus

The company behind the dYdX decentralized exchange (DEX) has partnered with Robinhood to rebrand and launch the protocol as Arcus on the Robinhood Chain.  An X account for Arcus posted on Wednesday that “dYdX is now Arcus” and would launch on the Robinhood Chain, Robinhoods Arbitrum-based layer 2 blockchain that went live the same day.  The dYdX Foundation said that dYdX Labs created Arcus “in partnership with Robinhood” and that the dYdX blockchain “is not affected by it in any way.” The platform is set to be blockchains “leading DEX” and will give users access to perpetual products and fee-free trading of 95 tokenized stocks.  Source: Charles dHaussy  The DEX is part of Robinhoods expanded push into tokenized assets and perpetual trading, two areas of crypto that have recently exploded in popularity as US regulators have shown interest in allowing the products to more easily come to market.  Robinhoods embrace of perpetual trading comes as it looks to entice traders who have flocked to the crypto perpetual futures platform Hyperliquid, whose token has climbed nearly 150% so far this year as it has captured market share.  Arcus to offer tokenized stock, perps trading  “Until now, traders have been shut out of the most valuable markets on earth

07-02

XRP Whale Withdrawals Double on Coinbase While Binance Remains Whale-Led

Large $XRP holders played a much bigger role in exchange withdrawals during the second half of June, with Coinbase recording a sharp increase in million-token transfers while Binance continued to be dominated by large transactions.  The changing outflow structure does not indicate whether the withdrawn $XRP is moving into cold storage, custody solutions, or other destinations. However, the data shows that whales accounted for a growing share of exchange withdrawals as $XRP traded near the $1.05 level.  Coinbase Sees Sharp Shift Toward Whale Withdrawals  CryptoQuant analyst Amr Taha highlighted a notable change in Coinbases $XRP outflow composition between mid-June and July 1.  Transfers exceeding one million $XRP represented about 10% of Coinbases total outflow value around June 16. By July 1, that figure had climbed to 25.7%, more than doubling in just over two weeks.  Source:CryptoQuant  Meanwhile, transactions between 10,000 and 100,000 $XRP accounted for 10.2% of total outflow value, while transfers ranging from 100,000 to one million $XRP remained the largest category at 56.1%. Withdrawals below 10,000 $XRP represented only 7.8% of the total value.  The data suggests that while medium-sized transfers still dominated Coinbase by overall share, the fastest growth came from whale-sized withdrawals. That shift indicates large holders became increasingly active during the second

07-02

World Launches Onchain Prediction Markets Directly on Solana

World has launched its fully onchain prediction market on the Solana blockchain on Wednesday, bringing blockchain-based event betting directly to users of the Phantom wallet. The rollout allows millions of Solana users to access prediction markets without downloading a separate application, as competition in the sector expands across cryptocurrency, sports and global events.  The platform uses Chainlink‘s oracle network to settle markets and process payouts onchain. It debuted with markets tied to Bitcoin’s price and the 2026 FIFA Mens World Cup, allowing users to participate while keeping control of their assets through their Solana wallets.  Onchain Trading Takes Center Stage  World said its platform is designed to simplify access to prediction markets by removing the need for custodial platforms and offchain settlement systems. Instead, trades, positions and market settlements take place directly on the Solana blockchain, allowing users to keep control of their funds until they choose to enter a market.  The platform uses the $CASH stablecoin for settlements, which World said enables faster and lower-cost payouts for winning positions. The company added that Phantom users can access prediction markets directly through the wallet without installing a separate application.  Pedro Miranda, Head of Consumer at the Solana Foundation, said, “Prediction markets are one of the

07-02

Bank of Korea governor outlines tokenized bond vision, unified ledger plan

Hyun Song Shin, the governor of the Bank of Korea, praised tokenization for its ability to simplify the issuance and management of government bonds.  Shin said during a Wednesday panel discussion at the European Central Bank (ECB) Forum on Central Banking in Sintra, Portugal, that tokenized bonds would make it easier to verify collateral, credit the asset providers account and reverse transactions at the appropriate time.  “The big prize is tokenizing government bonds,” Shin said, adding that it is “much easier, much less prone to mistakes if you have everything tokenized.”  US Treasury debt is the largest tokenized real-world asset category, representing $14.6 billion, or about 46% of the $31.7 billion RWA market, according to data provider RWA.xyz.  Shin also outlined plans to bring tokenized government bonds, wholesale central bank digital currencies and tokenized commercial bank deposits on a unified ledger, as part of an extension to “Project Hangang,” a Bank of Korea-led pilot project testing a blockchain-based wholesale CBDC system.  Hyun Song Shin, governor of the Bank of Korea, speaks during a panel discussion at the ECB Forum on Central Banking. Source: YouTube  Tokenized government bonds may boost financial innovation: BIS  Government bond tokenization could improve market efficiency and support financial innovation, provided regulatory and infrastructure

07-02انڈسٹری

Analyst warns BTC could drop further after worst June since 2022

Bitcoin could face further downside pressure after ending June below its 200-week moving average but above its realized price, a combination that crypto analyst PlanB says suggests the market has yet to reach a bear market bottom.  Bitcoin fell 20.5% in June to close the month at $58,526 — its worst monthly performance since June 2022 — below its 200-week moving average of $62,000 but above its realized price of $52,000.  “ALL previous bear market bottoms were below realized price,” said PlanB, the creator of the stock-to-flow pricing model, on Wednesday, adding in a separate post that Bitcoin could drop to $52,000.  The price move would mean Bitcoin falling about 60% from its all-time high of $126,000 in October. The dip could be even deeper, as previous bear markets have seen Bitcoin fall even further, such as 83% in 2018 and 76% in 2022.  BTC is undervalued but can still go lower  “Right now, price is much lower than value and indeed might go lower from here (below realized),” PlanB said. “So, Bitcoin is undervalued but can still go lower.”  BTC is trading between the 200-week moving average and the realized price. Source: PlanB   Bitcoins realized price is the aggregate cost basis of all coins in

07-02انڈسٹری

Trumps American Bitcoin sinks 8.4% ahead of reverse stock split to stay listed

Shares in the Trump family-backed American Bitcoin (ABTC) sank to an all-time low on Wednesday after the crypto miner set a date for a 1-for-15 reverse stock split in a bid to stay listed on the Nasdaq.  American Bitcoin said its reverse stock split will go into effect after the market closes Thursday and will begin trading on a split-adjusted basis when the market opens Monday. It would continue to trade under the ticker ABTC.  It said every 15 shares of the companys Class A and B common stock will be reclassified as one share. The company expects its common stock to be reduced from more than 1 billion outstanding shares to about 73 million.  American Bitcoin is the only public crypto company tied to the Trump familys sprawling interests in the sector, and a reverse stock split is typically seen as a negative, as it indicates the company is in distress and is looking to artificially boost its share price.  American Bitcoin said the split aims to prop up its shares to maintain compliance with Nasdaqs minimum bid requirements, which allow the exchange to delist the company if it trades below a $1 closing price for 30 consecutive trading days.  Shareholders had approved the

07-02انڈسٹری

Venice AI becomes unicorn after $65M Series A as AI privacy concerns grow

The Erik Voorhees-founded Venice AI has achieved unicorn status after raising $65 million in Series A funding at a $1 billion valuation.  Led by Dragonfly and with backing from Coinbase Ventures, F-Prime, North Island Ventures, Morgan Creek and others, the funding round announced on Wednesday marks the companys first external capital raise since launching in 2024.  The fundraising came in the same month Anthropic was forced to suddenly cut foreign access to two of its latest AI models, and comes just weeks after OpenAI was accused in a class-action lawsuit for sharing ChatGPT data with third parties, highlighting the potential appeal of privacy-focused AI platforms.  “This capital will be used to uphold the First and Fourth Amendments to the Constitution as they relate to mankinds interaction with AI,” Voorhees said in an X post on Wednesday.  The First Amendment is part of the United States Constitution protecting five essential freedoms including the freedom of speech. The Fourth Amendment protects people from unreasonable searches and seizures by the government.  Venice AI courts privacy-focused users  Venice AI, which claims to have 3.5 million users, offers access to over 200 AI models but adds a proxy between the user and the models and allows users to choose the level

07-02انڈسٹری

Tradeweb executes real-time tokenized US Treasury transaction on Canton Network

Tradeweb, an institutional electronic trading platform, has executed an onchain transaction involving tokenized US Treasuries, with Franklin Templeton transferring a tokenized Treasury security to Virtu Financial in exchange for tokenized cash over the Canton Network.  Tradeweb provided execution and price discovery, while the Canton Network synchronized settlement between the tokenized Treasury and tokenized cash. The companies said the trade settled in real time, but did not disclose its size.  A Tradeweb spokesperson told Cointelegraph the deal marked the industrys first real-time purchase and sale of a tokenized US Treasury settled against USDCx, a USDC-backed stablecoin issued on Canton. Participants included Blockdaemon, Digital Asset, Societe Generale, Franklin Templeton, Tradeweb and Virtu Financial.  According to the announcement, the transaction precedes the planned launch of the Depository Trust s expansion into tokenized financial assets. Earlier this year, the asset manager partnered with Binance to let institutions use tokenized money market fund shares as trading collateral while the assets remained in regulated custody, and with Ondo Finance to bring tokenized ETFs onto blockchain networks.  Governments expand tokenized bond initiatives  Governments have also been expanding efforts to bring sovereign debt onto blockchain infrastructure. Several jurisdictions have launched digital bond programs to test blockchain-based issuance, settlement and market infrastructure.  Hong Kong was

07-02انڈسٹری

Robinhood rolls out public blockchain, plans crypto trading for UK residents

Stock and cryptocurrency trading platform Robinhood announced the launch of its public mainnet about four months after it began testing the network.  On Wednesday, the company said Robinhood Chain, a layer-2 (L2) blockchain built on Arbitrum, had officially launched after the network went live on testnet in February. The blockchain, which the company described as “AI-native and purpose-built for real-world assets,” comes amid Robinhoods expansion of crypto- and decentralized finance-related services.  According to Robinhood, it plans to launch crypto trading in the UK soon. The company also said that its tokenized stock products were live and available through its wallet app to users in more than 120 countries. CEO Vlad Tenev called tokenized stocks “inevitable” in January, arguing that offering the products could help prevent trading freezes that sometimes occur on traditional exchanges.  The launch of the public mainnet came just a few weeks after Tenev announced that Robinhood would cut 10% of its workforce as part of a restructuring move. The company is expected to announce its 2026 second-quarter results on July 29, but reported in April that its crypto transaction revenue dropped by almost 50% year-on-year, from $252 million to $134 million.  Related: Last-minute MiCA approvals mark end of EU transition period  The

07-02انڈسٹری
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