Grayscale Sees 3,000 Onchain Vaults With $7B+ as Next Crypto Breakout

Key TakeawaysGrayscale says 3,000+ onchain vaults hold $7B, positioning them as cryptos next TradFi product.Ethereum, Base, and Solana vaults could pressure the $1.5T CLO market with cheaper, transparent rails.Grayscale says adoption hinges on US rules as 57 curators manage 79% in stablecoin strategies.  Grayscale Tracks $7B in Vaults as Wall Street Eyes Onchain Credit  Stablecoins and tokenized assets have already begun reshaping traditional finance. Grayscale now expects onchain vaults to be the next crypto innovation to go mainstream.  Vaults pool investor funds and deploy them across yield-producing strategies. Their investment rules vary. However, many operate within set risk limits and rely on professional managers, known as curators, to allocate capital.  “Vaults are a vehicle for onchain asset management,” Zach Pandl, Grayscales head of research, wrote in a recent report.  The structure bears a close resemblance to collateralized loan obligations (CLOs). Both products combine investor capital in managed portfolios that aim to generate risk-adjusted returns from underlying assets.  Smart Contracts Replace Traditional Intermediaries  The main difference is the infrastructure.  Traditional CLOs rely on custodians, trustees and other intermediaries. Onchain vaults instead use smart contracts to manage assets and settle transactions directly on blockchain networks such as Ethereum, Base and Solana.  That design can provide investors with real-time visibility into holdings

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Google Yanks Google Earth AI Image Tool a Day After Launch Over Deepfake Fears

In briefGoogle removed an AI image-generation feature from Google Earth on July 31, just a day after its July 30 launch, saying users were sharing generated imagery that appeared to violate its policies.Journalists and open-source researchers showed the Nano Banana tool could easily fabricate events that never happened—a blast crater in Los Angeles, a flooded U.S. Capitol, Irans Kharg Island on fire—raising fears it could supercharge misinformation.Googles defense that images carry a SynthID watermark failed to reassure critics, and the company said it would only restore the feature after adding stronger guardrails, giving no timeline.  Google has pulled a newly launched artificial intelligence feature from Google Earth barely a day after releasing it, following a swift backlash from journalists and open-source investigators who warned it could flood the internet with convincing fake satellite imagery.  The company introduced the tool on July 30, letting users zoom to any location on Google Earths web version, click “create image,” and generate a scene from a text prompt using its Nano Banana model. By July 31, it was gone.  In a statement posted to X, Google said people “uniquely trust Google Earth for a reliable view of the world,” and that while geospatial professionals had found useful

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Bitcoin losses linked to Coldcard vulnerability grow to $70 million, Galaxy Research says

Quick TakeThe firm said nearly 1,200 addresses were drained of more than 1,000 BTC, worth about $70 million in transactions it linked to a vulnerability affecting Coldcard hardware wallets.  Galaxy Research said Friday that nearly 1,200 addresses were drained of more than 1,000 BTC, worth about $70 million in transactions it linked to a vulnerability affecting Coldcard hardware wallets.  On Thursday, Coinkite advised that there was an ongoing issue affecting seeds generated on Coldcard Mk3 devices. “Out of an abundance of caution, Coinkite is warning all users who generated a seed using a Mk3 on version 4.0.1 (March 2021) or any subsequent version that their funds may be at risk,” the crypto hardware maker said.  Coinkite later expanded the advisory to include certain Mk4, Mk5 and Coldcard Q firmware versions, and released emergency firmware updates for all affected models.  Coinkite CEO Rodolfo Novak, known as NVK, apologized Friday and said the company took “full accountability for the firmware bug,” acknowledging that its review process had failed to catch it.  Novak also suggested the vulnerability may have been uncovered using artificial intelligence, calling the incident “a sober reality of the new AI paradigm.” He warned that AI-assisted code review can identify latent bugs faster than even

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Tether posts $1.5 billion operating profit in Q2 as reserve buffer falls by half

SummaryTether reported $1.5 billion in net operating profit for the second quarter of 2026, even as its reserve buffer fell by about half to $4.11 billion.The stablecoin issuer increased its gold holdings to roughly 146.2 metric tons and its bitcoin stash to 98,933 BTC.  Tether reported $1.5 billion in net operating profit for the second quarter of 2026, driven by returns from its U.S. Treasury and repurchase agreement holdings.  The issuer of USDT, the worlds largest stablecoin, reported holding $187.75 billion in assets against $183.64 billion in liabilities as of June 30, leaving it with $4.11 billion in excess reserves, according to the BDO attestation released Friday. Those excess reserves are down from just over $8.23 billion three months earlier.  The second quater report shows Tether increased its physical gold holdings by 14 tons to roughly 146.2 metric tons from 132.2 tons during the quarter. The value of those holdings, however, fell to $18.84 billion from $19.84 billion because the price of gold dropped about 15% to just over $4,000 per ounce.  The company lifted bitcoin holdings by roughly 1,796 coins to 98,933 BTC. The value of those holdings fell to $5.80 billion from $6.62 billion as the bitcoin price used in the reports

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Pump.fun laid off workers before they received millions in PUMP tokens: Report

Solana-based memecoin launchpad Pump.fun reportedly fired employees two months before they were due to receive PUMP tokens worth millions of dollars.  According to a Friday Sandmark report, at least one Pump.fun worker was due to receive PUMP tokens worth in the seven-figure range. The news outlet reported that Pump.fun co-founder Noah Tweedale said the company “grew too quickly,” resulting in layoffs of an undisclosed number of employees.  The employees were reportedly fired in April, just two months before they were due to start receiving the company‘s tokens based on agreements signed in 2025. The agreements, according to documents viewed by Sandmark, said that Pump.fun would unlock a quarter of the employees’ allocated tokens in one year, scheduled for June 2026.  Pump.fun has previously been the target of a lawsuit involving allegations the company operated a “rigged” machine for investors and another one regarding its maximal extractable value (MEV) practices.  At the time of publication, the price of PUMP was $0.002113, a 7.5% increase over the previous 24 hours.  Related: Pump.fun bounty platform pays users to tattoo tokens and chase viral stunts

08-01انڈسٹری

AI Music Company Suno Loses Copyright Case in Germany

In briefA German court ruled that Suno infringed copyrights by using music from GEMAs catalog without a license.The decision requires licenses for both AI model training and AI-generated music.Suno said it disagrees with the ruling and is considering an appeal.  A German court has ruled against AI music startup Suno in a copyright lawsuit brought by music rights organization GEMA.  According to a report by Variety, the Munich Regional Court found that Suno violated copyright law by using music from GEMAs catalog to train its AI models and by reproducing protected works without a license. The ruling requires AI companies to obtain licenses for the commercial use of GEMAs repertoire, covering both AI model training and the generation of music.  The lawsuit centered on six songs, including “Daddy Cool,” “Rasputin,” “Forever Young,” and “Mambo No. 5.” GEMA accused Suno Suno of training its AI on copyrighted songs without permission.  In a statement, Suno said it built its platform to help people create new music, not reproduce existing songs. The company said the ruling is based on a misunderstanding of how its technology works and that it is considering its legal options.  “Our tools give people the ability to create new songs, whether they are top

08-01انڈسٹری

Pump.fun staff lost millions after layoffs, report claims

Solana memecoin platform Pump.fun reportedly terminated over 40 employees shortly before their token allocations vested. The cuts stripped staff of $PUMP tokens, leaving at least one former employee without a seven-figure payout.  The launchpad fired staff in late March and early April. According to a Sandmark report, the firm obtained internal documents, emails, and audio and video recordings of a meeting. Noah Tweedale, one of the companys co-founders, explained to employees that the cuts were necessary because the firm “had grown too quickly,” preventing Pump.fun from being “fast and rough.”  Pump.fun stayed silent on the allegations  A “termination of services” email, seen by Sandmark, instructed Pump.fun employees to attend the meeting with Lloyd McCarthy, the firms head of talent. Employees who lost their jobs had their agreements terminated in early April, and they were compensated with one week of severance pay for each month of service.  Tweedale and his co-founder, Alon Cohen, did not respond to Sandmarks inquiries. Pump.fun has not issued any response to the allegations.  The employees were terminated due to a two-year delay in the release of their tokens. Pump.fun employees signed token grant agreements in mid-June 2025, and a quarter of their PUMP allocations were set to unlock in June 2026,

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Analysts back Strategy's cash buildup as Saylor shifts from '100% bitcoin' approach

Quick TakeTD Cowen and Benchmark analysts both kept buy ratings on Strategy after its Q2 call, with each telling clients that returning the STRC preferred stock to par is now managements main goal.However, the two firms split on price after Strategy posted an $8.2 billion loss and paused bitcoin buying for a fifth straight week.  Strategy, Inc.s identity has long centered on converting as many dollars as possible into bitcoin. Analysts are now endorsing the companys evolving approach, which includes holding more cash, arguing that a larger dollar reserve is essential to its long-term aim of buying more BTC.  “Although in the past weve had 100% allocation to BTC, I dont think itll be 100% in the future. I think itll be a mix,” Strategy Executive Chairman Michael Saylor said Thursday on the companys earnings call. “Maybe the best way to buy the most bitcoin is not to buy the most bitcoin.”  TD Cowen and Benchmark reiterated their buy ratings on Strategy (MSTR) following the companys second-quarter earnings call, noting that returning its STRC preferred stock to par has become managements central objective.  TD Cowen analyst Lance Vitanza wrote that the most notable takeaway from the call was the intensity of managements focus on

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Dogecoin treasury firm borrowed $1.4M at 10.7% interest – promising repayment in CleanCore stock already pledged elsewhere

House of Doges wholly owned Dogecoin Ventures unit borrowed $1.4 million from lender Devlin DeFrancesco under an unsecured note, according to a July 29 SEC filing.  Secured creditors get paid first, while the $1.4 million principal is due in 2,227,300 CleanCore Solutions shares already pledged to House of Doges senior lenders.  The note was issued July 28, bears 10.7% annual interest and matures July 27, 2027. Rather than return the $1.4 million principal in cash, Dogecoin Ventures agreed to deliver the fixed block of unrestricted, registered CleanCore shares.  Dividing the face amount by that block produces an implied value of about 62.9 cents per share.  Interest is due in cash. Even if Dogecoin Ventures repays early, it must pay the full interest that would have been due at maturity.  The repayment path runs through senior creditors  The fixed-share structure leaves DeFrancesco exposed to CleanCores market price when the stock can be delivered. A more immediate obstacle is creditor priority: the shares are repayment consideration, not collateral for the new note.  The note says it is unsecured and expressly subordinates payment to Dogecoin Ventures secured debt. It separately bars scheduled or early repayment until House of Doge has fully repaid its convertible note held by YA II PN

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Tether Reports $1.5B Q2 Profit as USDT Supply Grows, Gold Holdings Rise

In briefTether reported approximately $1.5 billion in net operating profit for Q2 2026.The company said its reserves exceeded liabilities by $4.11 billion and USDT in circulation reached $184.6 billion.Tether added 14 metric tons of gold during the quarter, bringing its holdings to more than 146 metric tons.  Tether reported $1.5 billion in net operating profit for the second quarter, a nearly 50% increase against Q1 2026, as the stablecoin issuer increased USDT in circulation, expanded its reserve surplus to more than $4 billion, and added to its gold holdings despite a weaker stablecoin market.  The company reported the results Friday in its latest quarterly attestation. Tether said that as of June 30 it held about $187.75 billion in assets against approximately $183.64 billion in liabilities, leaving a reserve surplus of roughly $4.11 billion.  “Without a doubt, Tether continues to deliver financial inclusion in the developing world like no other company or organization ever has in the history of humanity; were all incredibly proud of this achievement,” CEO Paolo Ardoino wrote on X.  According to the report, USDT in circulation reached approximately $184.6 billion at the end of the quarter, up about $446 million from the end of March. Although the overall stablecoin market shrank

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