Markets
Flows, venues and what actually traded, on chains that never close.
A Payments Firm Sues Tether to Unfreeze $2.76m of Its Own Treasury
Conduit says Tether froze its treasury wallet over a Brazilian investigation it has no connection to, and has held the funds for more than a year. It wants a court to restore access.
The UK Picks Six Banks to Issue a Gilt on a Ledger
The Treasury's DIGIT pilot will test distributed ledger settlement for British sovereign debt, with issuance expected by the first quarter of 2027, Cointelegraph reported.
The CFTC Proposes a Federal Licence for Crypto Exchanges, With Leverage as the Trigger
Two proposed rules would create a new category of registered venue for leveraged retail crypto trading. A reform group says the derivatives regulator is the wrong one for the job.
S&P Global Ratings Writes a Risk Framework for Onchain Lending Vaults
The ratings agency has published an assessment framework for the vaults that now sit at the centre of onchain credit, arriving in the same week Bitwise moved its PAPY real-world asset vault onto Circle's Arc chain.
Seven in Ten UK Finance Leaders Expect Tokenisation to Change Their Industry
A Lloyds survey found 71 percent of UK finance leaders think tokenisation will reshape financial services, with faster payments and settlement named as the main benefit.
The SEC Proposes Letting Investment Advisers Hold Crypto Themselves
A new proposed rule would allow advisers and funds to use state trust companies as custodians and, in some cases, to self-custody digital assets. Comments run 60 days from publication.
Robinhood Puts 10x Crypto Perps, AI Agents and Weekend Stock Trading in One App
At its HOOD Summit, Robinhood said it is rolling out perpetual futures with up to 10x leverage through its own derivatives arm and Bitstamp, adding user-built AI trading agents and extending US equity trading into the weekend.
California Makes It Illegal for Its Own Officials to Launch a Memecoin
Governor Gavin Newsom signed AB 2409 as part of an anti-corruption package. It bars public officials from issuing memecoins and restricts crypto firms from offering officials' tokens to Californians, for tokens issued from 1 January 2027.
A Money Market Fund Becomes Exchange Margin, and Keeps Paying Yield
Bybit will accept Franklin Templeton's Benji-issued tokenized fund shares as collateral for stablecoin credit lines, with the shares staying in off-exchange custody. Franklin ran the same structure with Binance in February.
The Fed Puts a Two-Day Clock on Stablecoin Redemptions
The Federal Reserve opened two proposals implementing the GENIUS Act, setting capital requirements, reserve-asset limits and a two business day redemption window for the issuers it supervises.
Most Real-World Asset Perpetuals Now Trade Onchain
Eighty-six percent of perpetual futures volume on real-world assets is settling on decentralised venues rather than centralised ones, according to Crypto Briefing.
The CFTC Tells Commodities Firms Tokenized Assets and Onchain Records Are Allowed
The US derivatives regulator issued guidance permitting registered firms to invest in tokenized assets and to keep required records on a blockchain, days after a failed vote on the CLARITY Act.
Robinhood's Chief Executive Says Crypto Event Contracts Are Already Beating Sports Bets
Vlad Tenev told an audience that contracts on crypto outcomes are outpacing sports wagers on the broker's prediction markets, and could become its largest category within a few years.
Kalshi Says Its Headline Volume Counts Maximum Payouts, Not Cash Spent
A critic flagged repeated identical $5,500 trades on the prediction market's crypto contracts. Kalshi's response is that the industry counts notional payout, which is a different number from money at risk.
The CFTC Says a Wallet That Routes You to a Futures Venue Is Not a Broker
Commodity Futures Trading Commission staff issued a no-action letter extending relief to passive software providers, meaning crypto wallets and apps can connect users to regulated derivatives and prediction markets without registering as introducing brokers.
The Robinhood Chain memecoin fell from $0.090 to $0.0032 on Thursday afternoon when 799 addresses sold 24 percent of the supply in 75 minutes with nothing in the way. Take the same token, the same sellers and the same afternoon, and launch it through Mosh instead: 71 percent of the supply sits in a vault nobody can sell from, the sellers would have needed 83 percent of the float, and the only large holder is a capped market maker.
A Bank Builds a 2030 Arbitrum Case on One Robinhood Chain Line Item
Standard Chartered's Geoff Kendrick put Arbitrum at $10 by the end of 2030, roughly seventy times the current price, resting the case on the 10 percent cut Arbitrum takes from chains built on its stack. That line was created by Robinhood Chain in July and has since fallen 93 percent.
London Considers Exempting Tokenized Gold From Fund Rules
The Financial Conduct Authority is weighing a bespoke framework with the Treasury that would carve digital gold out of collective investment scheme law, a defensive move for the London bullion market.
U.S. Bank Issues Its Own Dollar Token on Stellar and Tests the Freeze Switch
The bank moved value between its North American and European entities using USBDC, a dollar-backed token it issued on Stellar. The pilot covered minting, redemption, freezing and clawback.
Tether and Fasanara Put $400m Into a Private Credit Fund and Aim for $3bn
The two sponsors have seeded an evergreen private credit vehicle with $400m of their own money, targeting up to $3bn from outside institutions. Tether originates the deals and runs settlement in USDT.
Kalshi Wants Perpetual Futures on Tesla and Nvidia, Around the Clock
The prediction-market operator plans to seek US approval for roughly 60 perpetual contracts on stocks and ETFs, dropping a crypto trading structure into the middle of an unresolved argument over who regulates it.
Robinhood's Crypto Volume Rebounded 61% in August, and Most of It Was Not the App
Monthly operating data shows crypto trading volume up 61% from July but still 38% lower than a year earlier. Bitstamp, the exchange Robinhood acquired, accounted for $10.1bn of the month's total while app trading fell 46% year on year.
On Robinhood Chain, a Healthcare Stock Is Now a Trading Pair for a Memecoin
Traders on Robinhood Chain are pairing memecoins directly against tokenized equities rather than against stablecoins, Cointelegraph reports, building a corner of DeFi where the quote asset is a share.
Europe's Markets Regulator Names Tokenized Equities Among the Channels Back Into Banking
ESMA has flagged tokenized equities, DeFi exploits and prediction markets as places where deepening crypto links could carry risk into the traditional financial system, while questioning how Polymarket and Kalshi reach EU users at all.
Citadel Asks the SEC to Claim Event Contracts That Reference Listed Companies
Citadel Securities has urged the SEC to assert oversight of event contracts tied to public companies, challenging the CFTC self-certification route that has let prediction markets list them.
Robinhood Buys Into Its Own Clearing House for Prediction Markets
Robinhood began routing football event contracts to Crypto.com's CFTC-regulated exchange on Tuesday and will take equity stakes in both Crypto.com and OG.com, the prediction-market venue being spun out at a $5 billion valuation.
Robinhood Books Its First Underwriting Role, on the Oura IPO
The brokerage best known for retail order flow and, lately, for a layer 2 chain of its own has taken an underwriting seat on the initial public offering of the smart-ring maker Oura, according to Crypto Briefing.
Robinhood Order Flow Is Now 17% of a Perp Exchange's Daily Volume
Lighter's token rose 13% to $4.21 and has doubled in thirty days, while perpetuals volume across the sector fell 30% in a week. The routed flow, not the sector, explains the divergence.
Terminals Turned Over $1bn in a Day, and 91% of the Leader's Trades Settled on One Chain
Trading terminal volume crossed a billion dollars on 2 September for the first time since January 2025, with GMGN taking almost half of it, The Defiant reported. Nearly all of GMGN's flow cleared on Robinhood Chain.
Coinbase Files to List Single-Stock Perpetuals in the US, and Ondo Argues the Law Already Allows It
Coinbase lodged notices with the SEC for round-the-clock perpetual futures on individual stocks, extending a lineup that so far stops at thematic indexes. Ondo told both regulators the existing rulebook can hold the product.
A Bitwise Real-World Asset Vault Took $8m of Deposits on Day One
Bitwise's Premium RWA Vault, ticker PAPY, drew $8m within a day of opening, according to Crypto Briefing. The number is small, and the identity of the depositor matters more than the total.
Robinhood Chain Ranks Second by DEX Volume, and a Launchpad Is Taking the Fees
The two-month-old Arbitrum network sat second among all chains by 24-hour decentralised exchange volume, ahead of Ethereum, BNB Chain and Base, with Pons collecting roughly two-thirds of launchpad fees.
Twenty-One Banks Agree to Issue One Stablecoin Between Them
Citi, Goldman Sachs, Bank of America and eighteen other institutions are forming a joint venture to launch a dollar stablecoin for payments and settlement, with a euro token named as the next step.
A $100m Stablecoin Line Against Graphics Cards
Bullish is providing USD.AI with $100m of stablecoin liquidity for loans secured on AI computing hardware. The protocol's API reports $265m of loan reserves and $491m of total value locked.
Pons Sets an All-Time High and a $270m Market Value, Forty-Eight Days After Its First Pool
PONS reached $0.397065 at 19:36 UTC and is worth $270m, which puts a token with no product and seven weeks of history 140th by market value on CoinGecko's list. It is up 80 percent on the day and 625 percent on the week.
Ninety-Eight Per Cent of the Tokens Born on Robinhood Chain Are Dead Within a Fortnight
The chain has made 360,648 tokens in 59 days, about 6,100 a day. Of those more than a week old, 1.55 percent traded yesterday: about one in sixty-five. Half of everything born here stops trading before it is twelve hours old.
The Bank of England Is Being Given a Legal Duty to Encourage Stablecoins
A bill due before the House of Lords in September would add an innovation mandate to the Bank's remit, covering digital payments and stablecoins. Financial stability remains its primary objective.
Visa Signs Korea's Largest Exchange Operator for Stablecoin Payments
Visa and Dunamu, the company behind Upbit, will work together on stablecoin payments, remittances and AI commerce. Open Standard's proposed OUSD is among the projects under review.
Schwab Adds Three Tokens to a Platform It Opened in May, Without Saying When
Charles Schwab will extend its retail crypto service beyond bitcoin and ether to Solana, Avalanche and Chainlink. No launch date has been given for the three.
SBI Pays $270m for a Fifth of an Indonesian Broker to Move Yen Onchain
SBI Holdings is taking a 20% stake in Ajaib, the Indonesian online brokerage, in a deal aimed at building a cross-border settlement network and pushing a yen stablecoin into Southeast Asia, according to CoinDesk and The Block.
Ethena Wants to Back a $4bn Stablecoin With Equity Basis Trades
The issuer of USDe said it expects real-world asset perpetuals to make up more of the token's backing than crypto derivatives within one to two years, with the first exchange partners still to be named.
The SEC's Custody Rewrite Reaches the White House, Which Is Where Rules Go to Be Timed
A proposal to change how investment advisers and funds hold digital assets has been sent for White House review, following the withdrawal of a separate 2023 attempt. Nothing is in force, and the text is not public.
Revolut Puts a Euro Stablecoin in Front of Retail, and Someone Else Issues It
Revolut has begun a phased rollout of EURR to selected customers in Denmark, Poland and Portugal. The token is issued by Bridge, with reserves held at a Luxembourg subsidiary of Stripe, and its outstanding supply starts near zero against Circle's EURC.
Two Memecoins Traded 92% of the Volume of All 196 Tokenized Stocks on Robinhood Chain
Robinhood Chain lists 196 tokenized equities. 148 of them did not trade at all in 24 hours. Two memecoins on the same chain traded 92 percent of the volume of the entire tokenized stock market, and one of them out-traded NVDA by 1.8 times.
The Lobby for Onshore Equity Perps Now Has Two Voices Asking for the Same Thing
The Blockchain Association wants a joint SEC and CFTC framework for equity perpetuals, and Hyperliquid's policy arm is asking the same two regulators to harmonise their treatment of perps.
The Animal Trade Reaches Robinhood Chain
Cash Cat, a memecoin on Robinhood's Layer 2, rose more than 50% in a day as a broader rally pulled money into small animal-themed tokens, some of which doubled over the week.