Crypto
Privacy is a property of the route
Introduction
SimpleSwap and SecureShift have been routing swaps for each other for five years. Over that time, one thing has stayed constant on both sides: we build around privacy, and we take it seriously enough to argue about what it means. For most of crypto’s history, the answer was a coin. You held Monero, or you did not. In 2026, the question has moved to how value travels: which networks a swap touches and what each leg leaves behind.
For the anniversary, we did something more useful than a press release. Each team wrote down the observations it believes will shape where privacy goes next, an aggregator on one side and an instant exchange with a hybrid XMR model on the other. Six in total; none of them made a prediction about price. Read them, disagree with them, and tell us where you see it differently.
Part 1. What SimpleSwap sees
1. A private asset’s guarantees end at the swap boundary
In its Big Ideas for 2026, a16z crypto’s Ali Yahya called privacy the most important moat in the industry and put the problem in one line: bridging tokens is easy; bridging secrets is hard. Once a shielded asset becomes a different asset on another chain, the original asset’s properties remain behind.
SimpleSwap’s H1 2026 Swap Report shows how often that boundary gets crossed: 91.8% of swaps moved value between two networks, seven in ten had a leg outside the four largest chains, and stablecoins ended the half with a 9.2-point net gain in the share of sent vs. received. The typical swap changes both the asset and the rate. Privacy has to be discussed at the route level, because that’s where the guarantees change hands.
2. Privacy now has a number
The case for on-chain privacy used to rest on principle. In 2026, it rests on data. Blockworks’ Q1 2026 Zcash report put the shielded pool at 5.16 million ZEC, 31.0% of circulating supply, up from 18% in October 2025 by The Block’s count. Shielding requires an on-chain action, so analysts read it as usage rather than positioning. Regulated wrappers followed: The Block reported the Grayscale Zcash Trust’s daily volume doubling in April 2026 to about $1.7 million.
What is built into this demand is not concealment but selectivity: viewing keys and proofs that a transaction meets a rule without exposing the transaction itself. SimpleSwap’s own position is descriptive. The service is self-custodial: funds move between wallets the user controls, and the platform applies risk-based controls, including transaction screening and monitoring, as set out in its Anti-Financial Crime and KYC Policy. The reason is the nature of a public ledger. Crypto funds carry a history from previous wallets and counterparties, and that history can affect a transaction without the current sender knowing. When information identified during screening requires further review to meet legal or compliance obligations, the swap may be paused, and KYC may be required to ensure transaction security and compliance. A pause is not an accusation; it means the transaction context has to be clarified before the case can move forward. A private user and a controlled service are not opposites; the interesting engineering of 2026 lies at their intersection.
3. The leak moved from the chain to the browser
On 25 June 2026, Polymarket confirmed that a compromised third-party vendor had injected malicious JavaScript into its frontend. External investigators estimated that close to $3 million in PUSD was drained from at least 11 wallets before the dependency was removed. Polymarket said affected users would be refunded in full. Its smart contracts were not touched. The attacker inserted themselves between the user and the interface, and the interface constructed the transactions that the wallets then signed.
A connected wallet exposes an address, a balance, an approval history, and a signing surface to every script a page loads. A deposit-address swap exposes far less: the user receives an address and sends from a wallet they control, with nothing to connect and nothing to sign in a browser. The domain and the receiving address still need to be checked manually. In August, the work at SimpleSwap went into what sits behind those routes: new routes were added to the pool, and private transfers became available on selected pairs.
“Users think about privacy at the level of the asset. Routing forces you to think about it at the hop level. Every network boundary is where one set of properties ends, and another begins, and an aggregator sees more of those boundaries than any single venue does.” Stefan Lauer, Head of Infrastructure at SimpleSwap
Part 2. What SecureShift sees
4. Privacy is becoming a property of the route, not just the asset
SecureShift’s hybrid DEX model reflects a practical problem with moving between Monero and transparent assets. The decentralized side of the swap handles the transparent-chain legs, while XMR can be accessed through a custodial bridge using USDC or USDT as the intermediary asset. In other words, the route does not treat XMR as an isolated endpoint. It treats the swap as a sequence of different settlement environments, each with its own properties.
That distinction matters because a swap between XMR and a transparent asset does not preserve the same privacy characteristics across all legs. The XMR portion has Monero’s own transaction model, while the intermediary stablecoin leg operates on a transparent blockchain. SecureShift’s current DEX infrastructure supports XMR alongside BTC, ETH, SOL, BNB Chain, and other networks, with XMR pairs visible across its live swap activity.
The broader lesson is that privacy cannot be evaluated only by asking which asset is being received. It has to be evaluated by asking how the value got there.
5. XMR demand is spreading across routes and networks
One change SecureShift has observed in 2026 is that privacy-related demand is increasingly expressed through the routes users choose rather than through a single dedicated privacy market. XMR is now part of a broader multi-chain swap environment: SecureShift currently lists Monero alongside Bitcoin, Ethereum, Solana, BNB Chain, Arbitrum, and other networks, while its live activity shows XMR being exchanged against BTC, ETH, USDT, and other assets.
That matters because the user’s decision is no longer simply whether to hold a privacy-oriented asset. It is also which network to enter from, which asset to use as an intermediary when necessary, and where the final asset will settle. SecureShift’s wider exchange currently supports thousands of currencies and reports an average exchange time of 2 to 10 minutes, showing that privacy-related routes increasingly reside within the same infrastructure as ordinary cross-chain swaps rather than existing as a separate category.
From the exchange side, the interesting signal is therefore not just demand for XMR itself. It is the continued demand for routes that include XMR as one leg of a larger cross-chain transaction.
6. The next privacy layer is route transparency
The growth of multi-chain swapping creates a second privacy question: not only what a user sends and receives, but what happens between those two points. A route can cross several networks, assets, and liquidity sources before the final asset reaches the user’s wallet. Each additional leg can have different transaction visibility and different assumptions about custody.
SecureShift’s DEX architecture is built around this multi-chain reality. Its DEX supports cross-chain swaps while keeping the settlement of supported decentralized legs on-chain, and the platform currently lists more than 1,300 token pairs on its DEX interface. The hybrid XMR model adds another layer by using USDC or USDT as a bridge when moving between the XMR environment and transparent networks.
This suggests a change in how privacy should be discussed. Users increasingly need to understand the route itself: which asset is used at each stage, which network records each leg, and where custody enters the process. Privacy is no longer a single feature attached to the coin. It is something assembled, and sometimes lost, one hop at a time.
“Privacy is no longer only about the asset someone holds. In a multi-chain swap, it also depends on how that asset travels, which networks it touches, and what each leg reveals.” Sanket Mishra, Founder & CTO, SecureShift
What stays on the user’s side
A piece about privacy written by two services should end where the responsibility sits, not with the services. None of this is exotic.
- Check the domain before every deposit. SimpleSwap’s only official domain is simpleswap.io; SecureShift’s is SecureShift.io. Lookalike domains are the most common way funds vanish.
- Verify the receiving address character by character on a device you trust.
- Select the network deliberately. An asset sent on the wrong chain is usually not recoverable by any service.
- Know what a route exposes. A swap from a private asset to a transparent one results in a transparent transaction. Decide whether that matters before you send.
- Never share a seed phrase or private key. No swap service needs it.
- Save the order ID before sending. It is the only handle support has if a transaction stalls.
Privacy in 2026 is not something a token grants, nor something a service guarantees. It is a property of a route, assembled from choices the user makes one leg at a time.
About SimpleSwap and Secureshift
SimpleSwap is a self-custodial, multi-source swap aggregator that helps users exchange crypto wallet-to-wallet with more control, without having to compare providers and routes themselves. It supports direct wallet-to-wallet swaps across 20+ liquidity providers and 2,800+ swappable assets, combining liquidity from well-known CEX and DEX sources under the hood.
SecureShift is a hybrid, self-custodial crypto swap platform that helps users exchange digital assets wallet-to-wallet with greater control, without having to manually compare providers and liquidity routes. It combines liquidity from centralized exchanges and decentralized protocols to find efficient swap routes across a wide range of networks and assets, including BTC, ETH, XMR, SOL, ZEC, TRX, SUI, and more. SecureShift also supports advanced swap features, including private swaps, DEX routing, and automated AML-based refund handling.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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
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.
“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.
“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.
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.
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.
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.”
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.
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
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.
Got a Gut Feeling? It Could Pay Out 3.7X on Polymarket
Technical Analysis Supporting the Insane Grok AI XRP Price Prediction
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.
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 $300K Prize Draw on EdgeX
Maxi Doge Targets Early Mover Upside as XRP Tests Key Levels
While the Grok AI prediction of a potential 30x run for XRP is exciting, presale plays have a stronger track record of producing such returns. It does explain why attention keeps drifting toward presale-stage plays with smaller denominators.
Maxi Doge ($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.
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.
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.
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.
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.
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.
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.
“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.”
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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