Crypto World
Why $80,000 Could Be Bitcoin’s (BTC) Most Important Level Right Now
Bitcoin’s $80,000 level has emerged as a major threshold as the crypto asset attempts to break out of the current bear market. Several technical and on-chain measures are converging around this level.
At the same time, the traditional realized price has become less relevant because of the large amount of illiquid BTC supply, according to CryptoQuant analyst Darkfost.
$80K Breakout Test
In his latest post, Darkfost noted that Bitcoin’s market capitalization has been on the rise. At the cycle peak, the figure even reached $1.75 trillion. Because coins bought more than 10 years ago are now largely considered illiquid, they represent a much smaller share of the market capitalization than Bitcoin purchased more recently. This makes it necessary to adjust the realized price by weighting it according to the amount of capital invested.
Using this capital-weighted approach, the analyst calculated a Bitcoin cost basis of approximately $79,600. That figure places the average invested capital near the $80,000 mark, which makes the level a significant barrier for the crypto asset at present.
Darkfost explained that this area more clearly identifies where the average invested capital reaches neutrality. A daily close above $80,000, followed by a weekly close above the same level, would represent a strong signal. Such a move would also return a large portion of BTC’s invested capital to profit.
Next Buying Opportunity
Meanwhile, Ali Martinez said that the crypto asset could be heading toward another buying opportunity if its current market structure follows the pattern seen during the 2022-2023 bottom. The analyst stated that Bitcoin broke above a descending resistance trendline on Thursday, similar to the move seen in early 2023, which has brought back the May 2026 high near $83,000 into focus.
This level could lead to a retracement before Bitcoin makes another move higher. URPD data reveals a major resistance zone between $83,307 and $84,569, where nearly 975,000 BTC were previously acquired. This concentration of supply could make it difficult for Bitcoin to push through the zone on its first attempt.
Additionally, on-chain trader profit margins have climbed to 25%, a level that has often been followed by increased profit-taking and short-term corrections over the past year. Whales also appear to be taking profits, with roughly $88 million in gains already realized.
If selling pressure increases, he identified $76,996 to $78,258 as a crucial support range, where 843,000 BTC were previously traded. A break below that zone could shift attention to the next major demand area around $63,111, where roughly 925,000 BTC were traded.
Martinez said a pullback toward these support levels could present another opportunity before Bitcoin pushes towards $100,000.
The post Why $80,000 Could Be Bitcoin’s (BTC) Most Important Level Right Now appeared first on CryptoPotato.
The native token of the synthetic dollar protocol Ethena (ENA) registered double-digit gains after the Ethena Foundation unveiled four ecosystem changes, including a proposal for revenue-funded token buybacks and a completed buyout of locked tokens held by some early investors.
The Ethena Foundation opened a vote on a fee-switch proposal under which 95% of the net revenue paid to it from Ethena’s core business lines would be used to purchase ENA once the circulating supply of USDe reaches the first proposed milestone of $7.5 billion, the foundation said in a Thursday blog post.
Tokenholders have until Sept. 2 to cast their votes. At press time, 65 votes representing about 14.4 million ENA in voting power had been cast, all in favor of the fee-switch proposal, according to Snapshot.
The ENA token rose 10.7% over the 24 hours and gained 27% during the past week to trade above $0.17 as of 8:11 am UTC on Friday, according to CoinGecko data.
The foundation also said it had bought locked ENA from certain major seed investors who sold some of their holdings during the past nine months. Separately, it agreed with lead investors to release the remaining unvested investor allocations on Oct. 5, replacing the existing monthly unlock schedule. Team tokens will remain subject to their original vesting schedules.
The change accelerates the remaining investor unlocks rather than canceling the tokens.
Ethena’s synthetic dollar, Ethena USDe (USDE), ranks as the sixth-largest stablecoin with a $4 billion market capitalization on DefiLlama.
In September 2025, M2 Capital, the investment arm of UAE-based M2 Holdings, invested $20 million in ENA to make it its latest strategic holding. The conglomerate previously invested in the Sui Foundation.
Magazine: Ethereum risks losing No. 2 spot as stablecoins gain ground
Ethereum price is starting to stabilize, as the network’s next major upgrade puts its core economic assumptions under scrutiny. The dip is minor. The question hanging over it isn’t.
The Ethereum Foundation’s candidate Glamsterdam schedule aims to triple base-layer throughput by repricing gas to match actual resource consumption, but the repricing hits state-growing operations hardest.
EIP-8037 and EIP-8038, both still sitting in formal Review status, model a scenario where a 200 million gas limit pushes annual state growth to roughly 387 GiB, enough to blow past a cited 650 GiB performance threshold within a year. This is not a hypothetical stress test.
Geth’s state database already sat near 390 GiB in January 2026, and the gas limit hike from 30 million to 60 million alone tripled daily state creation from 105 MiB to 326 MiB.
None of this is priced in yet, and Ethereum’s official roadmap targets Q4 2026 with no fixed mainnet fork date. That leaves a live testing window and a market still deciding whether $2,500 is a floor or a ceiling.
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Can Ethereum Price Hold $2,500 Before the Glamsterdam?
ETH’s current $2,490 print sits just below the psychological $2,500 mark, with recent price action pinned inside a tightening range.
Our latest read flags $2,550–$2,600 as immediate resistance, while support layers sit at $2,400–$2,450 and, deeper, $2,200–$2,250. The pivot data placed the upper Bollinger Band near $2,530, a level that’s held for over a week now.
- Bull case: a clean break above $2,550 opens room toward the $2,600 band, with volume confirming continuation.
- Base case: ETH grinds sideways in the $2,450–$2,550 channel while Glamsterdam parameters finalize.
- Bear case: a failure to hold $2,400 support drags price toward the $2,200 zone, with state-bloat headlines adding fundamental drag on top of technical weakness.
Worth watching how EIP-8037’s testing outcomes land in the coming weeks. Repricing debates rarely move fast, but they move markets when resolved.
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Maxi Doge Targets Early Mover Upside as Ethereum Tests Key Levels
Ethereum near $2,500 with a market cap in the hundreds of billions doesn’t leave much room for asymmetric upside. A double from here is a monumental lift.
This is the math pushing traders toward earlier-stage plays where the ceiling isn’t already priced by institutional flow. Protocol-level economic shifts like Glamsterdam’s repricing tend to reward patience over speculation on majors, which is exactly why presale rotation picks up during consolidation phases like this one.
Maxi Doge is an Ethereum-based ERC-20 meme token built around a 1000x-leverage trading persona and holder-only trading competitions with leaderboard rewards.
The presale has raised $4.8 million at a current token price of $0.0002836, with a huge 65% APY staking live for participants. A Maxi Fund treasury backs liquidity and partnerships. Momentum around the raise has tracked broader meme-coin rotation activity.
Research Maxi Doge directly before the presale window closes.
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The post Ethereum Price Faces Glamsterdam Test as 3X Network Speed Threatens Smart Contracts appeared first on Cryptonews.
Gold has staged a remarkable comeback, surging almost 14% in August alone and reclaiming levels not seen since May, a stark reversal from late July, when prices had dipped below $4,000. The rally has been driven by a genuinely unusual combination of forces: the US Treasury’s surprise decision to double its long-dated bond buyback programme reignited fears over fiscal credibility and dollar debasement, while persistent Middle East tensions and steady Chinese buying have kept safe-haven demand firmly in place.
All eyes now turn to Fed Chair Kevin Warsh’s Jackson Hole speech, the week’s pivotal event. A hawkish tone or a fresh rise in real yields could trigger meaningful profit-taking after such a sharp run-up, while continued dollar weakness would likely keep gold’s momentum intact. Adding to the tension, this week’s data slate, including preliminary Q2 GDP, jobless claims, and Michigan’s inflation expectations, gives markets plenty of reasons to stay on edge.
With gold already up nearly 96% over the past year and testing territory unseen in months, the metal finds itself balancing two powerful forces: genuine structural demand against a market that may finally be due for a pause.
Technical Analysis of XAU/USD
As the XAU/USD chart shows, gold has been trading within a well-respected ascending trendline since the 4,022 low in late July, having earlier broken decisively above the descending trendline that capped the May–July decline. Price recently touched a fresh high near 4,698, the 0 Fibonacci level, before pulling back and now testing the confluence of the ascending trendline and the 50-period EMA near 4,561.
Bullish Scenario
Should buyers defend this trendline-EMA confluence, the broader uptrend structure remains firmly intact. A renewed push higher would target a retest of the 4,698 high, with a confirmed break above that level opening the door toward the 4,760–4,800 resistance zone and fresh record territory beyond.
Bearish Scenario
Conversely, a decisive break below the ascending trendline and the 50-period EMA would signal that a deeper correction is underway, exposing the 0.382 Fibonacci retracement near 4,440 as the first real test, with a further slide risking a retest of the 0.5 level around 4,360.
With price sitting right at the intersection of a multi-week trendline and the 50-period EMA, gold’s next move looks set to determine whether this powerful August rally has more room to run or whether it’s due for a deeper pause.
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Crypto World
Live updates: Bitcoin options worth $6.4 billion just expired as prices hover near $80,000
The $6.4 billion expiry cleared after bitcoin’s run from roughly $62,000 to $80,000, leaving traders to rebuild positions around a very different price range.
Hyperliquid Strategies’ stock climbed 10.99% to $12.83 on Thursday after the treasury company reported $305.5 million in net income for the fiscal year ended June 30. PURR added another 3.43% to $13.27 in after-hours trading.
The Nasdaq-listed firm finished the period with 29.3 million HYPE tokens and $149.9 million in cash. It carries no debt.
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HYPE Rally Drives the Profit
Most of the earnings came from token price movement. Unrealized gains on the HYPE token reached $709.9 million, according to the company’s results.
A one-time loss of $169.2 million on tokens contributed at the business combination offset part of that figure. Deferred tax expense absorbed another $183.5 million.
Operating income stayed small by comparison. Staking revenue and validator commissions totaled $9.5 million, while interest income added $2.7 million.
Total assets reached $2.06 billion, including $1.9 billion in HYPE valued at $65.04 per token. CEO David Schamis framed the year as a build phase.
“We more than doubled our HYPE treasury, jointly launched a validator that has quickly become one of the largest on the network and completed the exit from our legacy biotech operations,” Schamis said.
Meanwhile, Hyperliquid Strategies raised $646.6 million through a committed equity facility at an average of $8.70 per share. It also deployed $773.4 million to buy roughly 16.5 million HYPE at an average of $46.77.
The company spent $27.8 million repurchasing about 5.8 million PURR shares at an average price of $4.80. Cash stood at $132.6 million as of August 19.
HYPE Treasuries Split From the Sector
HYPE appreciated about 77% during the quarter ended June 30. Total digital asset market capitalization fell roughly 13% over the same stretch.
That divergence separated HYPE-focused vehicles from the rest of the treasury sector, which saw losses. Hyperion DeFi reported record quarterly net income of $31 million this month, driven by similar treasury gains.
Companies tied to other tokens reported the opposite. Bitcoin’s (BTC) largest corporate holder, Strategy, booked an $8.62 billion net quarterly loss.
Bit Digital posted a $107.2 million loss, with roughly $86 million tied to writedowns and non-operating items. Token performance, rather than treasury design, drove most of the gap this quarter.
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The post PURR Stock Jumps 11% After Hyperliquid Treasury Firm Reports Annual Results appeared first on BeInCrypto.
Incoming Apple CEO John Ternus met The Pokémon Company team and Pikachu at Apple Park on Thursday. Tim Cook shared the visit on X ahead of the September 1 handover.
Cook gives up day-to-day control next week. The meeting, therefore, introduced Apple’s next chief to one of the biggest franchises in gaming.
Apple CEO John Ternus Talks Gaming Before the Handover
Cook kept the tone light. He set out a three-item agenda for the day, namely introducing Ternus to the Pokémon team, discussing gaming, and keeping Pikachu away from the Apple Park pond. Two of the three worked, he joked.
The video he posted follows Pikachu across the campus. The mascot dances under the rainbow arch and helps itself to fruit in the orchard. The pond, judging by Cook’s punchline, won in the end.
Ternus arrives with a low public profile after two decades inside Apple’s hardware engineering group. Apple named him chief executive in April. Cook has led the company since 2011 and keeps his board seat as executive chairman.
Tsunekazu Ishihara, president and chief executive of The Pokémon Company, joined the visit. Pokémon has shipped mobile titles on iOS for a decade. Apple, meanwhile, keeps treating games as a services growth engine.
Apple shares closed at $314.58 on Thursday, up 0.36% on the day. The stock has added 37.6% over the past year. It has slipped 7.5% in the past month, however, after the Q3 earnings reaction in late July.
Ternus also takes the job eight days before Apple’s September 9 iPhone keynote. Apple has billed the event with the line “Surprise and shine,” and the iPhone 18 Pro, plus a first foldable iPhone lead expectations.
Nintendo Stock Climbs as Pokémon Worlds Opens in San Francisco
Nintendo gained 3.5% to ¥9,032 in Tokyo on Friday, or about $57 at current rates. The stock still trades roughly 38% under its ¥14,630 record from last year, worth close to $92.
Nintendo co-owns The Pokémon Company with Game Freak and Creatures. Pokémon revenue therefore reaches Nintendo indirectly, on top of Switch software sales.
Nintendo’s fiscal 2026 revenue nearly doubled to ¥2.31 trillion, around $14.5 billion, as Switch 2 shipped. Management has since reaffirmed guidance of 16.5 million Switch 2 units for the current year.
The timing helps. The Pokémon World Championships open at San Francisco’s Moscone Center on Friday and run through Sunday. Gaming has moved markets repeatedly this month. Take-Two lost billions in value after a GTA 6 leak, then answered with a Netflix reveal.
For crypto readers, the Apple CEO handover matters less for games than for App Store policy. Ternus inherits the rules that decide how wallets and payment apps reach iPhone users, an overlooked crypto angle of the transition.
Apple CEO John Ternus starts on September 1. Cook stays on as executive chairman, however, so his influence does not disappear overnight. The September keynote should show how much of Apple’s gaming talk turns into product.
The post Days Before Apple Changes CEOs, Pikachu Showed Up at Apple Park appeared first on BeInCrypto.
Crypto World
Solana ETF Inflows Hit Third-Largest Day Since Launch, Yet History Points to a 20% Risk
Solana (SOL) drew $60.91 million into US spot crypto ETFs on August 27, nearly seven times the previous session and the third-largest day since these funds launched. It was the strongest reading since November 3, 2025.
History gives that milestone an awkward edge. The only two days that ever beat it both arrived just before Solana fell hard.
The Record, and What It Is Not
Cumulative net inflows grew 4.83% in one session (between August 26 and August 27).It is the fastest one-day increase of 2026, lifting the running total to $1.322 billion, per SoSoValue data. Traded value more than doubled to $196.82 million.
Precision matters, though. August 27 was neither the largest inflow day nor the largest percentage jump, and Bitwise’s BSOL supplied about 66% of the total. Five of nine funds saw money arrive, so the day was broad but concentrated.
Access keeps widening around those flows. Morgan Stanley listed its MSOL trust in July, Grayscale added staking distributions in August, and Charles Schwab said on August 27 it would add SOL to its crypto accounts, though that plan is not live yet.
The Two Bigger Days Both Marked Tops
Here is the part worth pausing on. SOL took in $69.45 million on October 28, 2025, then fell 20.1% within seven days and 27.5% within a month. It took in $70.05 million on November 3, 2025, then dropped 21.1% over the next fortnight.
Two cases prove nothing, and the entire market slid through late 2025. Still, record ETF demand has so far arrived near local highs rather than launching new legs.
Why This Time Has More Under It
Unlike those episodes, Solana’s fundamentals are moving with price. Tokenized real-world assets hit an all-time high of $4.167 billion on August 25, with holders up 12.12% in 30 days, per RWA.xyz.
The network earns more too. Fees rose 37.29% against the prior month and DeFi deposits climbed 24.36% to $5.96 billion, per DeFiLlama. Solana’s share of all decentralized exchange volume hit 31.16%, above its 27.65% average.
Capacity expanded ahead of the demand. The maximum block size rose 66% in July and MoneyGram cash rails now reach over 170 countries.
Bigger blocks mean more transactions fit without fees climbing, and MoneyGram lets people convert cash to crypto over a counter, so Solana is expanding both its capacity and its on-ramps.
What the Solana Price Rally Has Not Proved
Two rails still lag. Stablecoin supply rose just 0.59% in 30 days while SOL gained 46.3%, and it sits 4.15% below July’s peak.
Weekly active addresses fell 7.23% even as transactions rose 3.31%, so fewer wallets are doing more, which can mean bots rather than adoption.
Leverage looks deceptive as well. Open interest jumped 62.19% in dollars but only 10.34% in SOL units, meaning most of that build is the token’s own price.
Binance’s taker buy-sell ratio sat at 0.907, below neutral.
Put simply, the crowd has added fewer bets. Also, a ratio under 1 means more traders are hitting sell orders than buy orders. This means that the rally is running without fresh conviction behind it.
Solana Price Levels Into September
SOL trades near $107 after climbing 49.35% since August 16, down 1.66% today. Four moving average crossovers drove that run, ending with the 20-day line clearing the 200-day around August 28.
No fresh crossover is queued. The pullback resembles a bullish pole and flag, where a steep rally pauses before another push. SOL failed at $109.39, and a daily close above it opens $112.80, then $123.83 and $141.68.
Selling volume stays lighter than the August 25 profit-taking, which favours bulls. Below, $105.98 and $101.77 catch a slide, while losing $94.95 breaks the bullish thesis.
Analyst’s View: The difference between now and those 2025 record days is what sits underneath. Back then the flows arrived with nothing but price behind them, while today fees, tokenized assets and DEX share are all rising with SOL. That is the case for treating this record differently.
The post Solana ETF Inflows Hit Third-Largest Day Since Launch, Yet History Points to a 20% Risk appeared first on BeInCrypto.
Visa and Dunamu—best known as the parent company of South Korea’s Upbit crypto exchange—have announced a strategic partnership aimed at exploring how stablecoins could be used for payments, cross-border remittances, and settlement services, alongside AI-enabled commerce.
In a Friday announcement, Dunamu said the two firms plan to combine Dunamu’s digital asset technology with Visa’s global payments infrastructure to study product and service opportunities across major markets. The partnership also points to using artificial intelligence for “agentic commerce,” where AI agents can search for products or services and complete purchases and payments on behalf of users.
Key takeaways
- Visa and Dunamu will test stablecoin-based use cases spanning payments, remittances, and settlement, leveraging Visa’s existing network.
- The partnership frames stablecoins, tokenization, and AI as an interlinked trend reshaping finance and commerce.
- Dunamu said it is evaluating multiple stablecoin options rather than tying the initiative to a single project.
- Open Standard’s dollar-backed OUSD is among the stablecoin proposals being considered, according to Dunamu.
- The parties also plan to explore AI “agentic commerce” scenarios that connect AI-driven purchasing with stablecoin payment rails.
Why Visa and Dunamu are focusing on stablecoins
Dunamu’s announcement places stablecoins alongside tokenization and AI as key forces expected to “change how finance and commerce operate.” The stated goal is to connect digital asset capabilities with traditional finance, which is where Visa’s payments reach could become a critical complement.
Stablecoin-centered initiatives have increasingly targeted real-world payment and settlement pain points—particularly the frictions involved in moving value across borders. By pairing Visa’s network with Dunamu’s digital asset expertise, the partnership suggests an attempt to move beyond pilots and toward workable integration models, though the companies did not specify timelines or deployment details in the announcement.
OUSD enters the conversation, but Dunamu keeps options open
As part of the exploration, Dunamu and Visa said they are considering business models involving Open Standard’s proposed Open USD (OUSD), a dollar-backed stablecoin introduced in June. Open Standard said that more than 140 companies have signed up to use OUSD, naming Visa, Mastercard, Stripe, Coinbase, and BlackRock among them.
Dunamu, however, indicated that OUSD is only one of several stablecoin projects it is evaluating. It also said the partnership has not prioritized a specific stablecoin for the work, signaling that the effort is currently oriented around feasibility and structure rather than committing to a single asset design.
This matters for market participants because stablecoin partnerships often hinge on compliance expectations, issuer and reserve arrangements, and interoperability—factors that can differ significantly between proposals. Dunamu’s stance implies that the partnership could remain flexible as regulatory and technical requirements evolve.
Upbit clarification underscores the partnership’s scope
The news comes against a backdrop of earlier discussion about OUSD and Upbit. In July, Upbit said it was not participating in the issuance of OUSD after Dunamu was named as one of the businesses involved in Open Standard’s initiative.
That clarification indicates that being connected to a stablecoin roadmap through partnerships or infrastructure evaluation does not necessarily translate into direct issuance involvement by Upbit itself. For users and investors watching stablecoin rollouts, the distinction highlights how roles can vary—issuers, service providers, trading venues, and network integrators can all be present in different capacities without assuming identical responsibilities.
Agentic commerce: AI agents plus stablecoin rails
Beyond payments and remittances, Visa and Dunamu said they will also explore “agentic commerce.” In practical terms, this refers to AI agents that can identify products or services and execute transactions—potentially including searching, selecting, and paying—on a user’s behalf.
The companies will examine ways to combine AI with stablecoin-based payment and settlement infrastructure. While the announcement does not provide technical specifics, the direction is clear: stablecoins are being positioned not only as an alternative to traditional settlement mechanisms, but as part of an end-to-end stack that could enable automated purchasing workflows.
For developers and businesses, this raises questions about how AI decisioning, payment authorization, and compliance checks would be integrated. It also suggests that future implementations may focus on controlling risk (fraud and unauthorized spend) while maintaining the speed and global accessibility that stablecoin-based settlement can offer.
What to watch next
Visa and Dunamu’s partnership is an exploratory step, not a guarantee of an imminent stablecoin product launch. The next developments to track are whether the firms narrow down which stablecoin options they can realistically integrate, how they structure settlement and compliance workflows, and whether agentic commerce concepts move from planning into test implementations.
Crypto platforms lost $3.63 billion across 245 documented security incidents between January 2025 and July 2026, according to CoinGecko’s State of Crypto Security Report published on Aug. 27.
Summary
- Crypto platforms lost $3.63 billion across 245 documented incidents between January 2025 and July 2026.
- Ten largest attacks accounted for more than 72.5% of all recorded stolen funds combined worldwide.
- Audited platforms represented 147 incidents and 88.44% of reported losses during the study period overall.
- Only 11% of incidents involved vulnerabilities covered by routine smart-contract audit scopes, CoinGecko reported publicly.
- Active onchain insurance coverage fell 20.2% to $130.2 million while five protocols exited or pivoted.
Losses were heavily concentrated. The ten largest attacks accounted for more than 72.5% of the total stolen value, while infrastructure and supply-chain compromises caused more than $1.8 billion in losses.
CoinGecko identified private-key compromise as the leading risk for centralized exchanges. Decentralized applications lost approximately $546 million through smart-contract exploits, while both platform categories also faced oracle manipulation and internal-mechanism failures.
The figures represent CoinGecko’s incident dataset. The published summary does not clearly state whether every recovered or frozen asset was deducted, so the $3.63 billion should be treated as its reported loss estimate rather than a final net-loss total.
Crypto security losses were concentrated in major attacks
The February 2025 Bybit breach was the largest incident included, accounting for approximately $1.44 billion. The attack involved compromised transaction-signing infrastructure rather than a defect in an exchange smart contract.
Other major incidents included the $292 million KelpDAO breach, the $285 million Drift Protocol attack and the $223 million Cetus exploit. Their different methods show why one security control cannot cover the industry’s complete attack surface.
Infrastructure attacks can target private keys, employee devices, front-end interfaces, software dependencies and bridge operators. These components often sit outside the smart contracts reviewed during conventional audits.
State-backed groups have also adopted longer and more complex operations. As previously reported, two North Korea-linked attacks drained approximately $577 million through social engineering and bridge infrastructure compromises rather than ordinary contract flaws.
Audits covered only a minority of exploited weaknesses
CoinGecko found that 147 of the 245 affected platforms, or about 60%, had completed an independent security audit before they were attacked. Those platforms accounted for 88.44% of recorded losses.
That finding does not establish that auditors approved the vulnerable component. CoinGecko said only approximately 11% of incidents involved flaws that fell within the scope of routine smart-contract audits.
Those in-scope failures still caused about $396 million in losses. Most other incidents involved external infrastructure, unaudited software updates, compromised credentials or governance mechanisms that the audit did not assess.
An audit is also a snapshot of a particular code version. Changes made after the review may introduce new vulnerabilities. Its effectiveness depends on the scope, methodology, auditor experience and whether developers resolved the findings.
In related coverage, Ripple’s security review identified 96 issues before affected code reached users, showing that audits can prevent losses when findings arrive before activation. They cannot replace continuous monitoring and operational security.
Onchain insurance capacity fell as attacks increased
Active coverage across leading onchain insurance protocols declined 20.2%, from $163.2 million to $130.2 million. Cumulative payouts remained near $33 million, according to CoinGecko.
Five of the nine protocols tracked had become inactive or moved into other business areas by August 2026. CoinGecko attributed the retreat partly to elevated risk, expensive premiums and difficulty attracting capital providers.
The $130.2 million coverage figure should not be compared directly with $3.63 billion as a formal coverage ratio. The first is a point-in-time measure, while the second covers cumulative incidents across 19 months.
Policies also contain narrow definitions. Some cover verified smart-contract failures but exclude phishing, private-key theft, employee mistakes, market volatility and losses involving unsupported chains.
Exchanges increasingly rely on self-funded reserves
Centralized exchanges have increasingly established investor-protection funds instead of purchasing full external insurance. These reserves can provide faster reimbursement after a breach.
However, a protection fund is not automatically equivalent to regulated insurance. Coverage depends on the exchange’s terms, reserve custody, asset composition and discretion over qualifying events.
Proof-of-reserves attestations address another issue by showing that an exchange controls assets corresponding to customer balances. They do not establish secure key management or prove that all liabilities have been disclosed.
The report’s next test will be whether platforms expand audits beyond smart contracts into operational systems, bridges and software dependencies. Insurance providers must also determine whether broader protection can be offered without making premiums unaffordable.
Circle (CRCL) and Coinbase (COIN) shares both fell more than 3% after reports that JPMorgan Chase and a consortium of major banks were moving toward issuing their own stablecoins following the advancement of the CLARITY Act. The news focused attention on the potential for traditional lenders to compete with crypto-native issuers such as Circle and Tether.
The selloff followed a Wall Street Journal report that U.S. banks are warming to stablecoins as nonbank issuers expand and executives worry the tokens could encroach on traditional banking. JPMorgan Chase has explored a potential stablecoin, though the discussions remain preliminary and no product is under development.
JUST IN: — Watcher.Guru (@WatcherGuru) August 26, 2026
Bank of America, Wells Fargo, Santander & over a dozen major banks move forward with plans to launch a crypto stablecoin.
Separately, a consortium of more than a dozen banks, including Bank of America, Wells Fargo, and Santander, is advancing plans for a commercial-focused stablecoin. The consortium has discussed a stablecoin covering the U.S. dollar, the euro, and other Group of Seven currencies.
CRCL retail sentiment on Stocktwits slipped from the extremely bullish zone to the bullish zone as chatter stayed at high levels over the past day. COIN sentiment remained in the extremely bullish zone, while chatter also stayed at high levels.
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BankChain Alliance Plans a Bank-Owned Network
The BankChain Alliance announced an industry-owned and industry-governed blockchain network intended to enable banks of all sizes to build modern payment rails. According to the Wall Street Journal, the organizations involved, modeled on the Federal Home Loan Bank system, represent about 3,283 institutions and $21.8 trillion in assets. The platform is anticipated to emerge in the first half of 2027.
Planned use cases include treasury management, supply-chain financing, cash management, tokenized deposits, stablecoins, smart payment tools, and automated settlement. The Alliance said it is seeking a technology partner and that the network would be interoperable with other networks and open to ownership by banks nationwide.
Kathy Kraninger, interim chair of the BankChain Alliance and president and CEO of the Florida Bankers Association, said the collaboration is intended to help banks of all sizes build their future and continue serving customers safely and efficiently across rural, urban, and regional communities.
The announcements point to banks exploring on-chain payment and settlement services alongside tokenized deposits and stablecoins. The reported plans remain preliminary in JPMorgan’s case, while the BankChain Alliance network is planned for 2027.
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CLARITY Act Uncertainty and Coinbase Push
Coinbase has become one of the most vocal industry supporters of the CLARITY Act, with CEO Brian Armstrong and senior executives repeatedly urging the Senate to advance the crypto market structure bill. The company has also backed industry lobbying efforts, including a June letter signed by more than 200 crypto organizations calling for a Senate floor vote.
— Coin Bureau (@coinbureau) August 28, 2026
WATCH: Coinbase CEO Brian Armstrong says self-custodial wallets are "the ULTIMATE sovereignty."
Q: You can't get debanked from crypto right?
"Many people including the president himself and his kids got debanked in the United States.”
"If you have a self-custodial… pic.twitter.com/3ERrK095b1
More recently, Coinbase Vice Chair Ryan VanGrack publicly pushed for passage as lawmakers faced mounting pressure to act, while Coinbase backed advocacy group Stand With Crypto, which endorsed congressional candidates who previously supported the legislation.
For now, the bank news arrived as the Digital Asset Market Clarity Act, or CLARITY Act, had yet to pass the Senate, with the bill’s treatment of stablecoin yield among the remaining issues to be resolved.
Shay Boloor, a market strategist at Futurum Equities, said Circle stock was under pressure amid concern that a dollar stablecoin issued and distributed at scale by major banks could reduce the share of the market flowing through Circle and USDC.
Two developments remain in view. The BankChain Alliance network is anticipated for the first half of 2027, and the Alliance is still seeking a technology partner.
Meanwhile, the Senate’s handling of the CLARITY Act, including its treatment of stablecoin yield, remains unresolved. The progress of the bank initiatives and the legislation will remain central to the discussion around stablecoin competition.
Discover: The Best Token Presales
The post Bank Plans on CLARITY Act Send Circle and Coinbase Shares Lower appeared first on Cryptonews.
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