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Hunter Biden defends LAPTOP memecoin as Kraken deletes promotional post

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Hunter Biden defends LAPTOP memecoin as Kraken deletes promotional post

Hunter Biden has defended his LAPTOP memecoin hours before its Sept. 9 launch on Base, saying 20% of the supply will be distributed through community airdrops while 30% will be tied to political, crypto and cultural predictions.

Summary

  • Hunter Biden defended LAPTOP ahead of its Base launch, describing the memecoin as a way to reclaim the laptop controversy.
  • LAPTOP will allocate 20% of its supply to community airdrops, including wallets that lost money holding TRUMP.
  • Another 30% will be tied to political, crypto and cultural predictions, with tokens either burned or sent to charity based on the outcomes.
  • Kraken deleted a promotional LAPTOP post after trader criticism, while Base founder Jesse Pollak said the network chose not to help design or promote the token.

In an X post early Wednesday, Biden acknowledged the criticism surrounding the project and framed LAPTOP as an attempt to take ownership of the laptop controversy that followed him for years. “I understand the cynicism,” he wrote. “Why something that has been so misused by grifters?”

Biden used President Donald Trump’s TRUMP memecoin as his main comparison, calling the token a “grift” and citing losses suffered by its holders. Nearly 989,000 wallets that bought TRUMP were sitting on a combined $3.81 billion in unrealized losses by July, according to Nansen data previously covered by crypto.news.

The LAPTOP launch has already drawn criticism from crypto traders, while Kraken deleted a promotional post about the token and people connected to its planned distribution have distanced themselves from the project.

LAPTOP token will use airdrops and conditional burns

LAPTOP is scheduled to launch with a total supply of 1 billion tokens on Base, the Ethereum layer 2 network developed by Coinbase. Biden said the project will use several supply allocations covering community distributions, its founders and a series of predetermined events.

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The community allocation accounts for 20% of the supply. Some of those tokens are earmarked for wallets that lost money holding TRUMP, alongside other groups included in the project’s planned airdrops.

Biden’s Substack subscribers were previously named among the recipients, while a mailing list associated with video journalist Andrew Callaghan’s Channel 5 was included in the original distribution plan.

Another 30% of the total supply is linked to a set of political, crypto and cultural predictions. The project has established 30 predetermined outcomes, with the tokens assigned to each event handled differently depending on the result.

If a prediction comes true, the tokens linked to it will be burned and permanently removed from circulation. Tokens attached to predictions that do not materialize will instead be sent to charity.

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The initial LAPTOP launch plan included events such as a Democratic victory in the 2028 US presidential election, Bitcoin reaching another all-time high and LAPTOP overtaking TRUMP’s market capitalization.

Founders, including Biden, are allocated another 30% of the supply. Those holdings will be subject to lockups and vesting restrictions, with the initial structure placing the founder tokens under a six-month lock before they are gradually released over more than two years.

A further 20% has been set aside for areas including liquidity, exchange listings, legal expenses, administration and charitable purposes.

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Biden warned prospective buyers that his involvement should not be treated as a promise of financial returns.

“You should not expect me or anyone else to make this token more valuable for you,” he wrote. “LAPTOP isn’t just about owning something, it’s about saying something.”

Hunter Biden targets TRUMP after billions in holder losses

Biden’s criticism of TRUMP comes after the presidential memecoin lost most of the value reached shortly after its January 2025 debut.

TRUMP launched days before Trump’s second inauguration and climbed to an all-time high of $73.43. By Aug. 13, 2026, the token had fallen to a record low of $1.37, representing a decline of roughly 98% from its peak.

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The token briefly rallied 93% in August, climbing from $1.37 to $3.60 in 10 days before dropping sharply after wallets linked to the team transferred 2.62 million TRUMP worth $6.21 million to OKX.

Nansen data cited in July showed that 988,905 of the roughly 1.48 million wallets that had bought TRUMP since launch were holding combined unrealized losses of $3.81 billion.

Trump’s 2025 financial disclosure separately reported a $636 million payout tied to the TRUMP memecoin licensing arrangement. His total crypto-related income for the year exceeded $1 billion, with some calculations placing the figure near $1.4 billion.

Public Citizen later estimated that investors across Trump-linked crypto ventures were at least $4.7 billion underwater. Its calculation included approximately $3.2 billion in losses associated with TRUMP and another $1.45 billion connected to World Liberty Financial and Trump Media investors.

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LAPTOP’s decision to allocate tokens to losing TRUMP wallets directly places the rival political memecoin inside its distribution model.

Crypto traders push back before LAPTOP launch

The planned launch faced resistance almost immediately after Biden announced the token earlier this week.

Kraken deleted a promotional social media post about LAPTOP after traders questioned why the crypto exchange was promoting another political memecoin. The exchange had not publicly said that it abandoned any potential listing plans, while the LAPTOP project said exchange listings would be disclosed when trading begins.

Callaghan separately distanced himself and Channel 5 from the project after the program’s mailing list was named as part of the planned token distribution.

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The journalist said Channel 5 had nothing to do with the memecoin and did not consider crypto a legitimate investment. Callaghan said Biden had previously asked whether he could use the mailing list when launching a new product, but Channel 5 later said subscriber information was removed before an email was sent.

Base executives faced similar questions because LAPTOP is being deployed on the Coinbase-backed network.

Base founder Jesse Pollak said Biden’s project had approached the team, but the network made a “conscious decision” not to help design or promote the token. The distinction follows earlier debate over Base’s involvement with creator and content tokens, an area where Coinbase CEO Brian Armstrong acknowledged in July that the network had “messed up” on content coins.

Pollak subsequently stepped back from leading the Base App to focus on the blockchain after saying demand for its earlier social products had fallen sharply. Coinbase took control of the app while Base redirected attention toward trading, payments and other financial products.

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Hunter Biden turns laptop controversy into token branding

The LAPTOP name refers to the computer that became a major political issue after Biden left it at a Delaware repair shop in 2019.

Data said to have originated from the device included emails concerning Biden’s overseas business dealings, along with personal photographs, messages and videos involving his drug use and private life. The material became the subject of political attacks, investigations and online memes over the following years.

Biden has now incorporated the same episode into the identity and marketing of his crypto project, describing the token as a way to take control of something that had repeatedly been used against him.

“They turned laptop into a weapon,” Biden wrote. “I turned it into a token.”

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Analysts see 10-year Treasury yield hitting 6%. Bitcoin bulls shouldn’t panic

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Analysts see 10-year Treasury yield hitting 6%. Bitcoin bulls shouldn't panic

Market action since 2022 backs Thielen’s take. The 10-year yield more than doubled to 3.88% that year as the Fed raised interest rates rapidly, including several 50- and 75-basis-point hikes to fight inflation.

Bitcoin fell 64% that year. Fed tightening and rising yields added to the pain from crypto scams and blowups.

The picture has been different since. From the end of 2023, the 10-year yield has risen 135 basis points to 5.23%, the highest since 2007. Over the same stretch, bitcoin has roughly doubled to $86,000, even after pulling back from its October record above $126,000.

Thielen and others attribute much of the recent rise in yields to fiscal fears and a higher term premium. In plain English, investors want to be paid more to lock up their money in long-term bonds, given the uncertainty over inflation and government borrowing.

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Chicago-based Strategic Analytics made a similar point about gold, noting that it has tracked fiscal risk more closely than the Fed’s policy path since 2022.

“Since 2022, gold has increasingly tracked fiscal-risk perceptions – term premium, deficits, debt sustainability – rather than the Fed’s policy path. Gold is not defying real yields. It is pricing fiscal sustainability and currency debasement, which has become the marginal driver,” it said recently in a LinkedIn post.



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China has three new criteria for humanoid robot IPOs. Few, if any, meet them

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China has three new criteria for humanoid robot IPOs. Few, if any, meet them

Humanoid robots box during the 5th Global Digital Trade Expo on September 25, 2026 in Hangzhou, Zhejiang Province of China.

Vcg | Visual China Group | Getty Images

BEIJING — China’s securities regulator is raising the bar for public listings of humanoid robot startups, according to three sources familiar with the CSRC’s thinking.

It’s a sign of how one of the hottest sectors of the market is cooling, as investors globally assess whether artificial intelligence stocks are in a bubble.

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The Chinese regulator wants local “embodied AI” startups seeking to go public to meet three specific criteria, according to the sources, who requested anonymity due to the sensitivity of the situation.

They are:

  • The “window guidance” requires that the humanoid applicants have sustainable revenue and commercial orders.
  • Losses must narrow, with one source saying a three-year forecast is needed.
  • The company must possess core technology such as robotic brain or hands.

Even if a startup only has to meet two of the three criteria, as one source indicated, it’s unclear which, if any, of the companies can do so.

That’s lowered expectations to just a handful, or none, of these startups making it to public markets, the sources said.

At least two dozen humanoid-related embodied AI companies have filed to list in Hong Kong alone, according to two of the sources. Hong Kong in May 2025 started letting tech companies file confidentially for IPOs.

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The Hong Kong stock exchange declined to comment. The China Securities Regulatory Commission did not immediately respond to a request for comment. Mainland China companies wanting to list in Hong Kong also need the CSRC’s blessing.

Unitree IPO impact

Scrutiny on China’s growing number of humanoid robot startups and their fast-growing valuations — supported by a mix of government and private sector funds — has grown over the last several weeks.

The industry’s posterchild, Unitree, got a regulatory fast-track to its listing in Shanghai on Aug. 19 as the World Robot Conference kicked off in Beijing.

But in a keynote a day later, founder Wang Xingxing cautioned that commercialization beyond dancing robots remained years away. It accentuated a debate that picked up in subsequent weeks on what humanoids can actually do — and whether industry startups were actually making money.

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China now has well over 100 humanoid companies, which fall under the national push for “embodied AI.” The term received Beijing’s support in the last two annual government work reports, although authorities have warned of a bubble in the humanoid robot industry.

Reflecting a rapid surge in interest, investment in the sector hit 47.09 billion yuan ($6.95 billion) in the second quarter, more than double that of the first quarter — and up over six times versus the same period last year, according to industry data provider Xiniu.

Unitree raised about about 6.1 billion yuan ($905 million) in its IPO on Aug. 19 with Shanghai-listed shares skyrocketing more than 460% in their debut to close at 845 yuan.

The stock had nearly halved in price as of Monday, at 459.65 yuan a share.

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Hong Kong-listed Ubtech has also tumbled more than 40% so far this year. The company, which went public in December 2023, still reported an operating loss for the first half of this year of 279 million yuan.

The share price decline contrasts with the flood of capital pouring into humanoid robotics companies over the last 12 months or so. The tech, often called “physical AI” in China, has been seen as a way for early-stage investors to benefit from the surge of interest in artificial intelligence models.

However, Rhodium Group analysis this month found that China’s AI companies only make about 10% the revenue of Anthropic and OpenAI. The ratio of valuation to revenue — especially for Chinese AI startups Moonshot and DeepSeek — was far higher than their U.S. rivals, the report said.

While expectations grow for the U.S. AI giants’ IPOs, chipmaker AMD said Monday it is acquiring World Labs for $8.2 billion in a stock deal. The startup, founded by AI pioneer Fei-Fei Li, is building AI models for creating virtual 3D environments frequently used in humanoid robot development.

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A SpaceX Starship Rocket Officially Reached Orbit. Why That’s So Significant

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A SpaceX Starship Rocket Officially Reached Orbit. Why That's So Significant

The launch this morning was both imperfect and stripped down to its orbital essentials. On the way up, one of the Starship’s six engines failed to burn properly, requiring the other engines to compensate for the missing thrust to get the ship in orbit. 

In addition, the return to Earth was simplified. SpaceX has made itself famous for safely landing the first stage of its Falcon 9 and Starship boosters—with 641 out of 688 Falcon 9 launches featuring this kind of recovery, allowing the boosters to be reused and make flying cheaper. Starship’s first stage, meantime, performs what has become known as a chopstick recovery, with the booster navigating its way back to the launch tower where two giant metal arms pluck it from the sky. For the current mission, the chopstick recovery was done away with to simplify the flight objectives; instead the first stage made a soft, engine-assisted splashdown in the Gulf of Mexico. The Starship spacecraft was planned for a six-orbit, 10-hour mission, with the ship’s engines set to fire around the dinner hour Monday to bring the spacecraft down for a similar gentle, watery landing. 



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Goldman Sachs Explains Why Not to Buy the 5%+ Bonds and Rather Stick to AI

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30-Year Yield is pushing beyond 5%.

Goldman Sachs’ Anshul Sehgal says bonds yielding 5% or more are not the best trade right now. He still favors AI infrastructure, which he sees as a far more asymmetric bet than the long bond.

Sehgal, a global co-head of Fixed Income, Currencies and Commodities (FICC) at the bank, laid out the view just a few days after the Federal Reserve raised interest rates.

Why Goldman Sachs Is Passing on 5%+ Bonds

On Goldman’s The Markets, Sehgal said the 30-year Treasury, known as the long bond, had hovered around 5% for weeks. He noted that clients want to buy it at 5% or higher, yet he still sees little upside.

The yield has kept climbing since the recording, reaching 5.56% on September 29, a new 52-week high. Sehgal blamed structural pressure for the strain on the long end. Retiring baby boomers are buying fewer long bonds, and heavy long-dated borrowing tied to AI is crowding the market.

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Those pressures explain why the selloff can persist even without a fresh inflation shock. Fewer retirees buying long bonds and a steady flow of long-dated borrowing tied to AI both weigh on prices, and neither fades quickly.

Sehgal adds that fear over US debt sustainability makes investors less willing to hold the long end, which feeds on itself.

The takeaway is that a rising yield does not necessarily break his thesis. It may instead show why he sees limited reward in owning the bond, while the risk to his AI trade is that costlier long-term borrowing squeezes the levered companies he favors.

30-Year Yield is pushing beyond 5%.
30-Year Yield is pushing beyond 5%. Image Source: CNBC

AI Compute Is the Asymmetric Trade

An asymmetric trade offers far more potential gain than risk. Sehgal applies that label to compute (AI computing power), data centers, and Neoclouds, which are cloud providers built to rent out that capacity.

“I think the asymmetric expression is being long compute.”

Anshul Sehgal, Goldman

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The catch is leverage. Savers collecting higher interest have effectively financed the AI build-out, leaving equities more indebted than a year ago. Sehgal admits these are levered bets. Still, he thinks they can multiply in value, while the wider stock market looks less certain.

Tighter Policy Hits Spenders, Not Capital

Sehgal says the Fed frames its September 16 hike as catch-up after five years above its inflation target. Schwab counts 16 of 19 Fed officials expecting another increase this year. Fed Chair Kevin Warsh also stressed three times that the Fed is easing back some stimulus rather than turning restrictive, Sehgal adds.

He argues that government interest payments flow to capital rather than workers, so higher rates curb household spending, a risk for the broader stock market.

He also rejects the debt-sustainability fears weighing on long bonds.

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“For me, that’s a red herring.”

Anshul Sehgal, Goldman

Meanwhile, BlackRock’s Rick Rieder is cutting equities for bonds paying 7% to 8%, though his high-grade bond call still cautions against rushing into the 10-year Treasury.

Sehgal names the Middle East conflict as the top driver of policy and markets in the weeks ahead.

The post Goldman Sachs Explains Why Not to Buy the 5%+ Bonds and Rather Stick to AI appeared first on BeInCrypto.

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BTC, ETH price news: Bitcoin slips to $83,000 as ZEC drops 12% and oil climbs again

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BTC, ETH price news: Bitcoin slips to $83,000 as ZEC drops 12% and oil climbs again

“Bitcoin has pulled back to $83K, testing the lower boundary of last week’s consolidation range,” Alex Kuptsikevich, chief market analyst at FxPro, said in an email to CoinDesk. “As with the market as a whole, a retest of the $82K region, where peaks were formed in May and early September, is entirely to be expected under current conditions.”

“Looking ahead, a sustained return to prices below $80K would be an important signal that the market is not ready to move higher for some time yet. If, however, this consolidation is soon followed by a new bullish momentum, it could send the leading cryptocurrency well above $90K,” he added.

The pressure is coming from bonds and oil.

Treasuries steadied in Asia after tumbling during U.S. trading, with the 10-year yield up one basis point to 5.25% after reaching its highest level since 2007 on Monday. A higher guaranteed return on government debt raises the bar for holding assets that pay no income, bitcoin among them.

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Brent rose more than 1% to nearly $107 a barrel, its second straight gain, as hopes for an imminent diplomatic breakthrough with Iran faded.

Pricier oil feeds into inflation, and traders have been adding to bets that the Fed will raise rates again. MSCI’s All Country World Index fell to its lowest since Sept. 18, and Nasdaq 100 futures slipped 0.3% after Monday’s tech-led selloff on Wall Street.



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Tether is a ‘lifeline’ for Iranian regime, Senate Dems say in new report

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Tether is a ‘lifeline’ for Iranian regime, Senate Dems say in new report

U.S. dollar-pegged stablecoin Tether is a go-to tool for the Iranian government to bypass sanctions, a new report from a group of Senate Democrats said.

Democrats on the Senate’s Homeland Security and Governmental Affairs Committee’s Permanent Subcommittee on Intelligence published a report Monday laying out the argument that Tether plays a key role in allowing Iran to conduct transactions that skirt international sanctions.

“Iran’s cryptocurrency-based shadow banking network has processed significant volumes of funds and implicates various Iranian interests,” the report said, adding that Tether has “repeatedly failed” to block Iran-connected wallets.

“USDT has become a significant financial lifeline within Iran’s shadow banking network,” the report said.

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When Tether does freeze wallets, it sometimes takes weeks, but the company also sometimes responds to requests without actually blacklisting wallets, the report claimed.

“Prior to 2024, Tether did not comprehensively and consistently freeze wallets designated by counter-terrorism agencies and continues to fail to proactively block clearly illicit wallets,” the report said. “This absence of deterrence invited abuse: terrorist organizations such as Hamas shifted from transacting in Bitcoin and a mix of cryptocurrencies to promoting USDT.”



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Grok AI Predicts XRP Could Hit $40 in 2026 With Landmark Event

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Ripple price prediction: Elon Musk's Grok AI predicts that XRP could reach $40 by 2027 if a wild announcement is made in Q4

Elon Musk’s Grok AI predicts an extremely bullish price for Ripple (XRP) by January 1, 2027, that will blow the minds of even the most dedicated members of the Ripple Army.

If you’re holding a sizeable bag of XRP USD, you may want to sit down before reading this. Grok claims that $25–$40 is achievable by 2027, with a stretch target of $50+ under the assumption of a full-blown crypto bull market returning and being supercharged by an unprecedented institutional catalyst.

Ripple price prediction: Elon Musk's Grok AI predicts that XRP could reach $40 by 2027 if a wild announcement is made in Q4
SOURCE: Grok AI Predicts XRP Price

XRP currently trades near $1.50–$1.52 as of September 28, 2026, down nearly -3% over the past 24 hours and with a daily trading volume of $3.5Bn, up from $3.2Bn the day prior.

This outlook is extreme and leans far beyond standard institutional forecasts. It assumes not only a strong late-2026 bull market driven by liquidity and risk-on conditions, but also a once-in-a-generation catalyst.

What is the Catalyst that Grok AI Predicts Could Spark an XRP Run Toward $40

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Major central banks (including the Fed, ECB, Bank of Japan, and PBOC) announcing that the XRP Ledger will serve as a primary settlement layer for cross-border CBDC and tokenized asset flows, combined with large commercial banks being incentivized or required to hold XRP as a liquidity buffer, and revelations of massive sovereign wealth fund accumulation.

Under this highly speculative scenario, forced institutional demand collides with retail FOMO in a classic late-cycle mania, allowing XRP to move from the current ~$1.50 range through previous-cycle highs and into the mid-to-high double digits by early 2027.

This remains pure speculation and entertainment, not a base-case or even high-probability outlook. Crypto markets are extremely volatile, and the catalyst described above would require multiple extraordinary policy and institutional developments.

However, with Ripple’s case against the SEC dropped and its subsequent rise as a highly favored US-based digital asset company under President Trump, anything could be on the table for XRP if the perfect scenario aligns.

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Got a Gut Feeling? It Could Pay Out 3.7X on Polymarket

Technical Analysis Supporting the Insane Grok AI XRP Price Prediction

Xrp (XRP)
24h7d30d1yAll time

On the higher timeframes, XRP has already established a constructive recovery base after reclaiming key moving averages from the mid-September lows near $1.25–$1.30. Price is consolidating in the $1.45–$1.55 region after testing highs near $1.63–$1.66.

In a normal bull market, a sustained break above $1.70–$2.00 would open the door to the prior cycle high near $3.65. Under the extreme institutional adoption scenario outlined above, that prior high would likely be cleared with significant force, triggering a series of measured-move and Fibonacci extension targets far beyond historical levels.

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Aggressive projections from the multi-year base, combined with the kind of vertical price discovery seen in previous mania phases, could theoretically extend into the $25–$40+ zone if volume and momentum expand dramatically. RSI and momentum indicators would almost certainly reach deeply overbought levels during such a move, which is typical of parabolic advances.

Key nearer-term supports remain in the $1.40–$1.45 and $1.30 zones; holding those would keep the broader recovery structure intact while the market waits for (or prices in) any extraordinary catalysts.

Overall, while the current chart supports continued upside in a standard bull market, only an extreme surge in institutional demand and narrative intensity could justify the kind of multi-thousand-percent extension implied by the $25–$50 targets.

Earn $50 and Enter $300K Prize Draw on EdgeX

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Maxi Doge Targets Early Mover Upside as XRP Tests Key Levels

While the Grok AI prediction of a potential 30x run for XRP is exciting, presale plays have a stronger track record of producing such returns. It does explain why attention keeps drifting toward presale-stage plays with smaller denominators.

Maxi Doge ($MAXI) is one of those plays. It is an Ethereum-based meme token built around a 240-lb canine mascot and a “1000x leverage” trading-culture identity. The presale has raised $4.8M at a current price of $0.0002841, with dynamic APY staking live for holders.

Standout features include holder-only trading competitions with leaderboard rewards and a Maxi Fund treasury earmarked for liquidity and partnerships.

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The meme-first, gym-bro marketing angle (“never skip leg day, never skip a pump”) is endearing. The accumulation numbers suggest plenty of traders are picking a side.

Get Ahead of Next Meme Coin Launch Here

Discover: The Best Token Presales

The post Grok AI Predicts XRP Could Hit $40 in 2026 With Landmark Event appeared first on Cryptonews.

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Trump Rolls Back Fuel Economy Standards. Will Cars Really Get Cheaper?

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Trump Rolls Back Fuel Economy Standards. Will Cars Really Get Cheaper?

When it was first proposed in December 2025, the rule was divisive, drawing ire from environmental advocates while garnering praise from auto-industry trade groups. The Administration finalized it last week with a signoff from President Donald Trump.

The President commented on the forthcoming rule Sept. 26, saying the new standards would “take the waste out of building cars in America.”

“That means LOWER PRICES, saving families thousands on a new, beautiful, and safe car,” he wrote on Truth Social.

The claim that the revisions will pass down cost savings to American buyers, however, relies on several factors, including automakers’ pricing decisions, fuel costs, and broader economic conditions.

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What changes under Trump’s new fuel economy rule?

Former President Joe Biden’s regulations were put in place in 2024 to reduce car-based greenhouse gas emissions, decrease dependence on fossil fuels, and spur a transition to electric and hybrid vehicles. The Trump Administration has claimed that its revisions are more focused on bolstering the auto industry and making safer, newer cars more accessible. 



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The restaking gold rush is over, and top protocols are barely making a profit

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Restaking earns almost nothing (CoinDesk/Oliver Knight)

EigenLayer held $19.7 billion at its peak and liquid restaking tokens grew more than 1,000% in the first six weeks of 2024. But the services buying security never paid enough to cover both the base staking yield and a premium on top, so the second yield restaking promised never materialized.

On Sept. 8, DefiLlama’s restaking category held $10.02 billion and generated $99,977 in fees over the prior week. The liquid staking category, on $51.87 billion, generated $27.35 million. Per dollar secured, ordinary staking earns roughly 53 times more.

Restaking earns almost nothing (CoinDesk/Oliver Knight)

Two developments then removed what was left of the incentive to restake. Points programs subsidizing deposits wound down through 2025, and slashing went live in April 2025. Slashing is the penalty that confiscates part of an operator’s staked ETH when it misbehaves, by going offline or signing conflicting messages, for example. So restaking suddenly carried a real, priced downside where before the risk had been theoretical. There was no extra yield to compensate.

Set ether.fi aside and the rest of the sector is small. Renzo, Kelp, Swell, Puffer Finance and Bedrock, the five largest remaining liquid restaking tokens, made $953,350 in combined gross profit in the second quarter of 2026. Three quarters earlier the same five made $2.18 million. Puffer, which raised $23 million, recorded $21,590 for the quarter. Swell recorded $22,370.

What is left of liquid restaking, excludiing ether.fi (CoinDesk/Oliver Knight)

The income statements also show which part of these businesses was ever profitable, and it was not the restaking. On Kelp’s books, EIGEN token rewards appear at $460,600 in gross revenue and $460,600 in cost of revenue: they arrive and pass straight to depositors, leaving nothing with the protocol. Puffer and Swell book staking rewards the same way. Whatever profit these companies made came from the orinary staking fees charged underneath the restaking layer.



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Goldman Sachs brings $100 billion Treasury fund into crypto’s institutional plumbing

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Goldman Sachs brings $100 billion Treasury fund into crypto’s institutional plumbing

“There’s a convergence now that you’re seeing between traditional market participants and digital asset market participants as well,” Lynq CEO Jerald David said in an interview with CoinDesk TV.

For firms using Lynq, FTIXX gives them somewhere to put cash between trades rather than leaving it sitting around. They can earn yield on the money and pull it out when they need it again.

That was a product Lynq’s clients had been asking for, David said. The network works with firms including B2C2, Wintermute, Galaxy ·, FalconX, Crypto.com and Fireblocks, whose businesses can require moving large amounts of money between trades. They wanted another option for putting that cash to work in the meantime.

“We needed to demonstrate that there was client demand,” David said. “Our clients were looking for a treasury asset on the platform that may have had a different yield profile than the other instrument that’s on there right now.”

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Getting FTIXX onto the network required some work. Lynq had to modify its technology, restrict access to U.S. clients and integrate with Mosaic, he said. Customers also need a relationship with tZERO Securities and must meet the required onboarding and eligibility checks.

Lynq itself runs on a private, permissioned Avalanche (AVAX) Layer 1 blockchain. Its network has more than 30 institutional digital-asset firms onboarded and more than $89 million in assets, according to the company.



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