BitGo Holdings launched BitGo Link on Aug. 3, giving institutional trading and treasury teams one interface for viewing and moving capital held across BitGo and connected cryptocurrency exchanges.

The New York Stock Exchange listed digital asset infrastructure provider described Link as a centralized control layer for external exchange accounts. It allows clients to monitor buying power, initiate transfers and manage user permissions without signing into each venue separately.

The product connects with BitGo’s wider custody, settlement and prime brokerage services. However, BitGo did not disclose Link’s fees, customer numbers, supported assets or a complete list of connected exchanges in its official announcement. It said only that the product connects clients with a “large network” of leading venues.

BitGo Link centralizes balances and exchange transfers

Link gives institutions a consolidated view of assets held inside BitGo and in accounts at outside exchanges. The dashboard includes subaccounts and calculates the client’s total buying power across connected venues, according to the company’s official product page.

Trading teams can use the platform to transfer funds between accounts, rebalance capital or meet margin and liquidity requirements. BitGo says Link automatically compares transfers with exchange records and displays each transaction’s progress from initiation through settlement.

The company presents the service as an answer to a common institutional problem. Firms may hold assets with a custodian while maintaining separate accounts at several exchanges. Each venue can have different permissions, reporting systems and settlement processes.

Link does not mean that every connected asset remains in BitGo custody. The service provides visibility and transfer controls for both BitGo and non BitGo accounts. That differs from the company’s off exchange settlement service, where eligible assets can remain in segregated custody while an exchange receives a projected balance for trading.

Policy controls follow capital to connected venues

Every transfer initiated through Link passes through BitGo’s Policy Engine. Institutions can apply approval requirements similar to those already used for transfers from BitGo wallets, including role based access and internal authorization rules.

Administrators can also extend permissions across connected exchange accounts from one place. BitGo said this removes the need to recreate access settings at each venue, although clients will still depend on the technical availability and terms of the participating exchanges.

CEO Mike Belshe described Link as BitGo’s “command center for institutional treasury and trading.” That language reflects the company’s positioning of the product. BitGo has not released usage data showing how many institutions have adopted it or how much capital it currently manages.

The company also identified technical integration failures, transaction errors, digital asset volatility and regulatory scrutiny among the risks that could affect its broader products. Those disclosures mean Link’s planned expansion should be treated as a company objective rather than a confirmed outcome.

Link extends BitGo’s institutional connectivity push

Link complements Go Network, which provides settlement and access to exchange liquidity within BitGo’s custody framework. It also connects with BitGo Prime, which offers execution, financing, collateral management and access to liquidity providers.

As crypto.news reported in related coverage, Gate US joined Go Network in July. That arrangement lets eligible institutional clients trade against the exchange’s liquidity while supported assets remain in BitGo Bank & Trust custody until settlement.

Link addresses a different part of the operating process. It gives treasury teams control over assets already distributed among external accounts, rather than limiting the workflow to balances held under the company’s qualified custody structure.

BitGo has also widened the services available from custody. As previously reported, the firm opened controlled access to Aave, Spark and Tesseract in June. Narval software checks approved contracts and policy rules before BitGo authorizes transactions from eligible custody wallets.

The company said it plans to connect Link with more exchanges and treasury processes over time. It did not provide a rollout calendar or identify the next venues under consideration.

Investors await BitGo’s August 12 earnings report

BTGO last traded near $5.06 on Aug. 3, approximately 4.1% above its previous close of $4.86. The available trading data does not establish that the Link announcement caused the increase.

The share price remained well below BitGo’s $18 January IPO price. The company raised approximately $174.3 million in net proceeds through the offering, according to its first quarter filing.

BitGo reported $3.77 billion in first quarter revenue, up from $1.77 billion one year earlier. Its net loss widened from $25.7 million to $60.7 million. The loss included unrealized changes in the value of its digital asset treasury and expenses connected with the IPO.

Most of the reported revenue came from digital asset sales recorded on a gross basis. Digital asset sales generated $3.66 billion, with associated costs of $3.65 billion. The accounting presentation means the headline revenue figure should not be read as an equivalent measure of service fees or operating profit.

The launch also follows a company restructuring. As crypto.news previously reported, BitGo cut nearly 15% of its workforce in June while directing resources toward security, trading, stablecoins, settlement and artificial intelligence infrastructure.

BitGo will publish second quarter results after the market closes on Aug. 12. Management will hold an earnings call at 5 p.m. Eastern Time. The report may provide the next verified update on client growth, costs and whether newer institutional products are contributing to the business.

Galaxy Research has estimated that losses tied to the Coldcard hardware wallet vulnerability have reached 1,596 Bitcoin across confirmed attack waves and could climb to about 2,055 BTC, or nearly $130 million, if a suspected fourth wave is verified.

Galaxy Research said in a post published Monday on X that it has identified 1,596 BTC stolen from 7,300 addresses across three confirmed waves of attacks, along with 14 smaller security incidents linked to the Coldcard seed-generation flaw.

The research firm said its latest estimate excludes a fourth suspected attack wave because it has not yet received enough confirmation from affected wallet owners. If the additional activity is validated, the total would rise to 2,055 BTC, valued at about $130 million at current prices.

Earlier blockchain analysis from Galaxy had estimated roughly 1,815.75 BTC moving across four observed waves, but the firm emphasized at the time that the figures came from on-chain analysis rather than confirmed victim reports. The latest update narrows confirmed losses while keeping the larger estimate tied to the still-unverified fourth wave.

Coldcard attack investigation remains active

Galaxy said it has identified what it believes is a fourth coordinated wave of theft but is still waiting for victim confirmation before adding those addresses to its confirmed tally.

According to the research firm, blockchain activity suggests the suspected fourth wave is “substantially comprised of” one attacker, giving analysts medium-high confidence in that assessment despite the remaining uncertainty over affected wallets.

Alex Thorn, Galaxy’s head of firmwide research, first flagged the potential fourth wave on Aug. 3 after identifying transaction patterns that closely matched the earlier attacks. His running estimate later rose to 448.7 BTC moving from 709 potential victim addresses, although Galaxy stressed that blockchain data alone cannot confirm every victim or determine whether a single operator carried out every theft.

The firm added that its investigators continue refining address mapping as additional information becomes available from wallet owners and other participants in the investigation.

Coldcard flaw dates back to 2021 firmware change

The attacks stem from a vulnerability affecting seeds generated on Coldcard Mk3, Mk4, Mk5 and Coldcard Q devices running vulnerable firmware versions.

Coinkite disclosed last week that the flaw originated in March 2021 while integrating a new cryptographic library into its firmware. Instead of generating wallet seeds through the intended hardware-backed true random number generator, affected firmware mistakenly relied on a deterministic pseudo-random generator provided by MicroPython.

According to Coinkite’s technical review, the hardware random-number generator remained active elsewhere in the firmware, allowing internal reviews to confirm its presence without revealing that wallet creation had switched to a different entropy source.

Block’s Bitcoin engineering and security team independently reached the same conclusion after reviewing the firmware. While the company said it had not completed full empirical testing of every affected device, it concluded that the vulnerable firmware called the deterministic MicroPython fallback instead of the STM32 hardware random-number generator during seed creation.

Coinkite estimates that affected Mk2 and Mk3 devices may provide roughly 40 bits of effective entropy, while vulnerable Mk4, Mk5 and Coldcard Q models may generate about 72 bits instead of the intended 128 bits.

Most stolen Bitcoin has not moved

Galaxy said investigators have been working with U.S. federal law enforcement agencies, cryptocurrency exchanges and cyber investigation groups by sharing confirmed attacker and victim addresses as the investigation expands.

The research firm reported that approximately 90% of the stolen Bitcoin remains untouched. It added that none of the coins stolen during the first three confirmed attack waves have moved since they were taken, giving investigators additional time to monitor the funds.

Galaxy also warned that new attackers could attempt to exploit the same vulnerability while affected devices remain in use. For that reason, it said identifying additional attacker-controlled addresses remains important so exchanges and authorities can respond if funds begin moving.

Earlier blockchain analysis showed attack activity accelerating to about 13.8 wallet sweeps per Bitcoin block during the fourth suspected wave, compared with roughly 0.3 sweeps per block before the incident. Galaxy also observed that most stolen balances were transferred to newly created addresses instead of one central collection wallet, while some funds later moved through second-hop transactions that complicated blockchain tracing.

The firm previously noted that users who still control compromised wallets may have a limited opportunity to replace an unconfirmed theft transaction with a higher-fee transaction under Bitcoin’s Replace-by-Fee mechanism, although the option only exists before miners confirm the original transaction and offers no guarantee of recovery.

Coldcard users are still urged to replace wallet seeds

Galaxy said the attacks remain active and advised affected Coldcard users to move their funds to secure addresses and create entirely new wallet seeds on patched devices.

Coinkite has already released emergency firmware updates for every affected product, including version 4.2.0 for Mk2 and Mk3 devices, version 5.6.0 for Mk4 and Mk5, version 1.5.0Q for Coldcard Q, and Edge releases 6.6.0X and 6.6.0QX. The company has also destroyed all remaining inventory containing vulnerable firmware.

According to Coinkite, installing updated firmware protects only wallets created after the fix. Existing seed phrases generated with vulnerable firmware remain exposed and should be replaced.

The company recommends generating a completely new seed after updating the device, verifying a receiving address, sending a small test transaction, and transferring the remaining balance only after confirming the test succeeds.

Coinkite also said wallets created using at least 50 fair private dice rolls are not exposed by this random-number-generation issue alone. While a strong BIP-39 passphrase adds another security layer, the company continues to recommend migration because the original vulnerable seed remains weak.

Tyler Williams, one of Treasury Secretary Scott Bessent’s senior digital asset advisers, left the U.S. Treasury Department on July 31 as Congress struggled to advance the CLARITY Act before its August recess.

Bessent confirmed the departure in a statement reported by Punchbowl News on Aug. 3. He called Williams “instrumental” in advancing the administration’s goal of making the United States the “crypto capital of the world.”

Punchbowl reported that Williams is “expected to return to the private sector,” although neither his next employer nor his future position was disclosed.

XRP holders can now borrow against their coins on Ethereum without selling them.

Flare, the blockchain that lets XRP be used in decentralized finance, told CoinDesk on Monday that its wrapped version of the token has been accepted as collateral by Sentora, which manages a $280 million lending pool of Ripple’s RLUSD stablecoin.

Borrowers post the wrapped XRP, called FXRP, and take out RLUSD against it.

The approval opens an isolated FXRP/RLUSD market on Morpho Blue where holders can borrow against XRP exposure rather than sell it. Access is permissionless with no whitelist required.

Sentora reviewed FXRP’s market behavior, oracle design, liquidity and liquidation capacity under its institutional risk framework before signing off, and the asset will face the same ongoing monitoring as other collateral in the vault.

Getting there takes several steps today. Users mint FXRP through Flare’s FAssets system, bridge it to Ethereum via Stargate, deposit it into the market and borrow at their chosen loan-to-value ratio. Flare says it is building a route through Smart Accounts that would let holders authorize the whole sequence from an XRP Ledger wallet, with direct XRPL-to-Ethereum minting also in development.

Crypto’s biggest players are still waiting to gain access to powerful new AI models to strengthen their code from attacks, but only a select few have been able to get it. 

US crypto exchange Coinbase said in June that it had secured access to Anthropic’s restricted Mythos model and Zcash’s Zooko Wilcox said Anthropic used the model to audit the Zcash protocol at the request of Shielded Labs, while other major crypto players are seemingly yet to get access.

“That’s one advanced frontier model that hasn’t been made available to crypto just yet,” Binance’s chief security officer Jimmy Su told Cointelegraph. “We have been trying to make inroads there. We also talked to other crypto exchanges and our own investors to try to make some progress. But we haven’t gotten the most frontier AI model, like Mythos.” 

The uneven access creates a new security divide in an industry where exploits can put billions of dollars at risk. While model developers like Anthropic and OpenAI have chosen to restrict their most cyber-capable models from the public, there are concerns that increasingly powerful open-source alternatives mean crypto firms are left to deal with sophisticated AI-assisted attacks without the most capable tools to defend against them. 

Crypto executives say restricted access is initially necessary

Anthropic says Mythos 5 uses the same underlying model as its publicly available Fable 5, but without safeguards that restrict sensitive cybersecurity work. 

OpenAI operates a similar tiered system: verified defenders can use GPT-5.5 with “Trusted Access for Cyber”, while its more permissive GPT-5.5-Cyber model is reserved for a smaller group conducting authorized penetration testing.

Crypto security executives interviewed by Cointelegraph said there is likely a need to initially restrict access to frontier cyber models, but said continuing to gate them becomes harder to justify once publicly available models approach the same capabilities. 

Source: Zooko Wilcox

Su said Anthropic’s controlled rollout is a responsible approach because newly released models may benefit attackers faster than defenders. 

“If it enhances the attacker much faster than the defender, then it actually is harming the ecosystem,” he said, adding that a limited testing period could reduce the potential “blast radius.”

Related: Can AI drain DeFi? Separating Claude Mythos hype from reality

However, Su said this calculation changes when competing models become more powerful and widely available. 

“As other more powerful models are being released, the pressure will be on Anthropic to make it more widely available,” he said. The question would be whether defenders can deploy the frontier model as effectively as attackers once it becomes available, he said. 

The number of critical-severity CVEs has climbed after the launch of Claude Mythos Preview. Source: Epoch AI

Solana Foundation chief information security officer Michael Coates, who joined the foundation in July, also supported safeguards but argued that legitimate defenders need a faster route to them. 

“I fully understand guardrails for advanced models, but we need to streamline the verification programs, the acceptance programs, to give these models to legitimate defenders,” he said.

“We need to make sure that the best models we can get are in the hands of defenders because attackers will have something capable enough.”

Blockchain Capital’s Sean Cheetham also supported eventually opening up restrictions, and said that broader availability could ultimately favor defenders as legitimate security researchers greatly outnumber the small groups conducting sophisticated attacks. 

“If good people can multiply their defense scale… you’re much better off just opening it up and allowing them to defend themselves,” he said.

Uneven access to frontier AI models 

Binance’s lack of access comes despite it being the biggest crypto exchange in the world by daily trading volume. The exchange holds a total of $137.8 billion in assets, according to DefiLlama. 

Crypto custodian Fireblocks, which secures trillions in assets annually, said in April it has sought access to Mythos and at the time, only used Anthropic’s publicly available model for pentesting, according to The Information, while Uniswap founder Hayden Adams in June slammed Fable 5’s safeguards that restrict prompts relating to cybersecurity. 

The Ethereum Foundation in July said it has been running “coordinated AI agents” to find bugs across its systems, but didn’t disclose which models were being used. 

Cointelegraph reached out to Ethereum Foundation, Fireblocks and Uniswap to confirm if they have since received access to frontier AI models. 

Source: Hayden Davis

Meanwhile, some crypto-adjacent companies have gained access. FIS, which provides technology to banks and partnered with Circle in July last year to let banking clients offer domestic and cross-border payments in USDC, joined Project Glasswing last month. 

Project Glasswing is Anthropic’s gated program for giving vetted cyber defenders and organizations responsible for critical software infrastructure early access to its restricted Mythos models.

HackerOne, which provides bug-bounty and security testing services to major crypto exchanges, among others, also said it joined Project Glasswing, though testing is confined to its own infrastructure, not its customers’ programs. 

Cointelegraph reached out to OpenAI and Anthropic about how many crypto companies have been given access to restricted models. 

AI-assisted hacking attempts on the rise

On Monday, Bitcoin swap service Boltz said it has chosen to halt its non-custodial bridge after seeing a steady rise in AI-assisted exploits over the past few months. 

“The pattern is clear: attackers now iterate faster than a team our size can find and patch.”  

Last week, Bitcoin hardware wallet company Coinkite said a number of its Coldcard devices were exploited due to a flaw in its wallet seed generation, which turned out to be less random than expected. 

It speculated that the attacker had used AI to review previous versions of the firmware to find and exploit the flaw, despite it using “one of the best available AI models” to review its code just weeks before. 

Magazine: Fears of AI-driven DeFi hack epidemic overstated for now — but not for long

Boltz suspended its Bitcoin swap services indefinitely on Aug. 3 after reporting months of automated, AI assisted probing and several contained exploits. 

The noncustodial swap provider said the attacks had accelerated sharply in recent days, leaving its development team unable to deploy fixes as quickly as attackers adapted their methods.

The team said it could not responsibly restore swaps while it remained under active attack and reviewed findings from recent security scans. Boltz described the suspected attackers as “multiple resourceful groups,” although it did not identify them or provide evidence independently confirming who conducted the attacks.

Boltz swap shutdown followed an earlier EVM warning

The wider shutdown followed an Aug. 1 notice concerning a bug in Boltz’s Ethereum Virtual Machine integration. The service initially disabled swaps involving assets such as USDT, USDC, WBTC, TBTC and RBTC while stating that Bitcoin, Lightning and Liquid swaps remained operational. Two days later, it stopped all swap services.

Boltz operates infrastructure connecting Bitcoin mainnet with the Lightning Network, Liquid and other supported networks. Its public API powers the main web application and outside integrations. Official documentation advises developers to use supported software development kits because they manage swap cryptography, recovery procedures and transaction states.

Moreover, Boltz said no customer funds were exposed during the incidents because users retain control of their assets throughout its atomic swap process. The company also said it absorbed the losses associated with the contained exploits because it operates as a fully bootstrapped business. Those statements remain company claims because Boltz has not published a technical incident report or independent security review.

The service’s API remains online for cooperative refunds. Users can also complete unilateral refunds without relying on Boltz infrastructure, according to the company. Its support team remains available for customers with unfinished transactions.

The distinction shows how noncustodial architecture can limit custody losses without preventing operational disruption. Users may retain their Bitcoin, but they cannot initiate new swaps through the affected service until operations resume or integrated wallets introduce alternative providers.

Wallets are seeking replacements for Boltz infrastructure

Bull Bitcoin said the shutdown temporarily disabled Lightning payments and conversions between Liquid Bitcoin and onchain Bitcoin within its wallet. Standard Bitcoin transfers, Liquid transfers, wallet restoration and storage functions continued operating normally.

The company said it was evaluating several replacement options and promised a separate mechanism for customers wishing to convert Liquid Bitcoin into onchain Bitcoin. It added that its Liquid Federation membership allows it to conduct conversions without depending on a third party.

ZEUS also disabled its own deployment of the open source Boltz stack, while Aqua notified users that the service suspension affected its swap functions. Neither wallet reported customer asset losses.

As crypto.news previously reported, Blockstream had integrated Boltz into its mobile wallet to support Lightning and Liquid swaps. The shutdown shows how applications that use shared swap infrastructure can face service interruptions even when their core wallet functions remain available.

Boltz has not provided a reopening date

Boltz warned users not to expect swap services to resume soon. It has not published a remediation timetable, detailed vulnerability list or conditions that must be met before operations restart. The team said it would provide another update after assessing its options.

The company’s attribution to AI assisted activity also remains difficult to verify without technical indicators. Automated scanning can increase the speed and volume of attacks, but Boltz has not explained how it determined artificial intelligence played a role.

In related coverage, crypto.news reported that Solana Foundation security chief Michael Coates expects artificial intelligence to strengthen both attackers and defensive systems. Boltz’s next update is expected to clarify whether it will introduce automated monitoring, outside audits or changes to its open source infrastructure before restoring swaps.

NEAR Protocol co-founder and NEAR Foundation CEO Illia Polosukhin proposed creating a protocol sovereign fund on Aug. 3, using roughly 30 million NEAR as its initial capital base. 

At the token’s price of about $1.8 at press time, the proposed treasury would be worth approximately $57 million.

The plan would direct current and future protocol revenue into a NEAR denominated fund. Part of the yield would pay for network security, validator support, multiparty computation providers and other public goods. Polosukhin described the forum post as a discussion proposal, not an approved mandate.

NEAR sovereign fund would begin with 30 million tokens

The proposed fund would combine the existing protocol treasury, revenue already earned and future revenue selected through governance. Rather than immediately spending or burning incoming assets, the treasury would hold NEAR and seek returns through strategies that governance would later define.

Polosukhin compared the structure with sovereign wealth funds in Norway and Singapore and with university endowments. Those models preserve a capital base while using part of its returns for recurring costs. Unlike those examples, the proposal says NEAR’s fund would hold the network’s native token and measure returns in NEAR.

In addition, the proposal forms part of NEAR’s broader tokenomics changes. The network cut its inflation rate from about 5% to roughly 2.5% in late 2025. It also activated an Intents fee switch in February 2026 that directs revenue toward NEAR purchases.

Polosukhin argued that burning revenue offers only a temporary reduction in supply. He instead wants revenue used to acquire NEAR, generate yield and create a continuing funding source. “If this proves to be successful,” he said, the network could gradually reduce inflation and potentially move toward a fixed token supply. That outcome remains conditional and has not been approved.

The fund’s returns could support the Validator Support Program, MPC providers and other services. House of Stake delegates could participate through existing delegation systems, while governance would set revenue scope, spending percentages and operating parameters.

Governance must still define investment risks

The proposal does not specify which yield strategies the fund would use. Early forum responses asked whether the treasury would rely on staking, lending, protocol owned liquidity, stablecoins or other assets. One commenter warned that NEAR’s decentralized finance markets may not absorb such a large treasury without compressing returns or increasing risk.

Those questions matter because staking rewards largely come from token issuance rather than external revenue. Lending, liquidity provision and leveraged strategies could add counterparty, smart contract, liquidation or market risks. The discussion called for exposure limits, independent oversight and transparent performance reporting against a NEAR denominated benchmark.

House of Stake is positioned as NEAR’s economic governance body. Its mandate covers treasury management, inflation, fees and incentive design. However, the sovereign fund post has not entered a confirmed vote or execution process.

Consultation lasts two weeks before any formal decision

Polosukhin invited validators, tokenholders and other stakeholders to comment for two weeks. After that period, supporters could develop detailed governance parameters and decide whether to advance a formal proposal. No launch date, target yield, asset allocation or final spending formula has been announced.

The proposal follows other attempts to connect network usage with demand for NEAR. As crypto.news reported, the protocol recently introduced staking based payments that convert locked tokens into monthly AI compute credits.

In related coverage, NEAR has also positioned its network and Intents system as settlement infrastructure for cross chain activity and autonomous AI agents. Those initiatives provide additional sources of fees or token utility, although their future revenue remains uncertain.

Proof of Attendance Protocol, commonly known as POAP, is winding down after more than five years, co-founder Isabel Gonzalez announced on Aug. 3. 

The decision closes the company behind one of Web3’s best-known digital attendance badge systems after millions of collectibles were issued for conferences, online events and community milestones.

Gonzalez blamed the closure on a business model that could not remain sustainable without weakening the project’s original purpose. She wrote that “crypto’s funding cycles and distribution dynamics made it hard to build a sustainable company without cannibalizing the ethos that made POAP mean something.” The statement did not provide a final service date, employee details or a complete migration plan.

POAP shutdown follows months in maintenance mode

The Proof of Attendance Protocol shutdown did not arrive without warning. The company placed its existing platform into maintenance mode on March 16. It stopped onboarding new issuers and ended active development, while allowing approved issuers, collector tools, APIs and existing integrations to continue operating.

At the time, the team said previously created POAPs would remain intact. It also warned that some operations could slow as fewer resources were assigned to the service. The August announcement now goes further by confirming that the company is winding down rather than simply pausing expansion.

Moreover, Proof of Attendance Protocol turned attendance at physical and online events into blockchain collectibles. Organizers typically distributed claim links or QR codes, allowing participants to mint a badge tied to a particular event. As crypto.news previously explained, Proof of Attendance Protocol badges use the ERC-721 NFT standard and moved from Ethereum to Gnosis Chain to reduce transaction costs.

Figures displayed by the project and cited in reporting show nearly 7.6 million collectibles created by more than 46,000 issuers. Gonzalez said organizations including Coinbase, American Express, Warner Music Group and Bayer had used the service, alongside many crypto communities.

Because the badges were minted on public blockchains, the company’s closure does not automatically erase them. Existing tokens should remain linked to their holders’ wallet addresses. However, continued access through POAP’s gallery, applications and metadata services may depend on how long the company maintains its supporting infrastructure.

POAP struggled to turn cultural reach into revenue

The protocol began at ETHDenver in 2019, when roughly 100 badges were issued to hackathon participants. POAP Inc. later developed the idea into a wider platform for preserving digital memories and raised $10 million in January 2022. Archetype and Sapphire Sport led the seed round.

Proof of Attendance Protocol later introduced charges for some commercial issuers after years of largely free distribution. The company hoped fees could support long term operations while keeping personal and community use accessible. Gonzalez’s latest statement indicates that those efforts did not produce a model the team considered sustainable.

The closure follows other Web3 products that built loyal communities but struggled to fund continued operations. In related coverage, crypto.news reported that Uncharted and Fishing Frenzy closed after failing to find a workable business model. Crypto.news also reported that Nike sold RTFKT after announcing the end of its Web3 services during a prolonged NFT downturn.

No final shutdown timetable has been published

As of Aug. 4, POAP’s main website, collector pages and developer documentation remained accessible. In the statements reviewed, neither Gonzalez nor the company announced a final cutoff date for those services. They also did not explain whether another organization would maintain the interfaces, APIs or metadata after the wind down.

Collectors therefore retain their onchain tokens, but the future of POAP’s hosted tools remains uncertain. The next verified update should clarify service deadlines, data preservation arrangements and whether the proposed open collectibles standard will continue under another structure.

Gonzalez said strong customer communities and lasting brand recognition remained among POAP’s most valuable achievements. Her assessment reflects the company’s view of its legacy, but it does not guarantee that POAP’s applications, infrastructure or brand will continue under new ownership.