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Ark Invest adds Block Inc. and Circle shares in latest buying spree

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Ark Invest adds Block Inc. and Circle shares in latest buying spree

Cathie Wood’s Ark Invest has bought about $37.4 million worth of Block Inc. shares after the Jack Dorsey-led fintech company fell nearly 2% in Monday trading.

Summary

  • Ark Invest bought 456,059 Block shares worth roughly $37.4 million across three of its ETFs after the stock fell 1.85% on Monday.
  • Block raised its 2026 gross profit forecast to $12.51 billion after second quarter gross profit increased 25% year over year.
  • Ark purchased another 35,192 Circle shares worth about $3.36 million as CRCL jumped 9.65% on Monday.
  • Bernstein maintained an Outperform rating on Circle with a $140 price target, citing stablecoin payments and blockchain capital markets.

According to Ark Invest’s latest trading disclosure, the investment manager purchased 456,059 Block shares across three of its actively managed exchange-traded funds as it increased its exposure to the fintech company following another decline in its stock.

The shares were distributed across the Ark Innovation ETF, Ark Next Generation Internet ETF and Ark Blockchain & Fintech Innovation ETF. Block closed Monday at $82.02, down 1.85% for the session.

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Ark’s latest purchase extends a series of investments in Block this year, including acquisitions made during earlier periods of weakness in the company’s stock.

Ark Invest adds to Block position after Monday decline

Ark’s actively managed ETFs follow portfolio limits designed to prevent individual positions from becoming too concentrated. Under the investment manager’s strategy, a single company generally cannot account for more than 10% of a fund’s portfolio.

The firm regularly adjusts positions as stock prices move, buying and selling shares to maintain its desired portfolio weights.

That approach has resulted in several purchases of Block during 2026. In June, Ark acquired 236,759 Block shares worth roughly $17.2 million through ARKK while making a series of changes to its crypto-related holdings.

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Later, the investment manager added more Block shares in July alongside a larger purchase of Circle Internet Group stock. The firm bought 19,029 Block shares through ARKW and ARKF in that transaction, worth about $1.52 million based on Block’s $79.99 closing price at the time.

Ark has used periods of weakness across crypto-linked equities to build positions in several companies this year. Crypto.news previously reported that the investment manager bought crypto stocks including Coinbase, Circle, Bullish and Robinhood after all four declined during a June trading session.

Block has remained one of the companies included in those purchases, with Ark buying another batch following the fintech company’s second-quarter earnings in August.

Block raised its 2026 profit outlook

Block reported stronger-than-expected second-quarter results in August, with gross profit rising 25% from a year earlier to $3.17 billion.

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Cash App accounted for $1.97 billion of gross profit, up 31% year over year, while Square generated $1.16 billion, an increase of 13%. Adjusted operating income reached $864 million, representing a 27% margin, according to Block’s shareholder letter.

Adjusted diluted earnings per share came in at $1.02.

Following the results, Block raised its full-year gross profit forecast to $12.51 billion, representing expected growth of 21% from 2025. The previous forecast stood at $12.33 billion, or 19% growth.

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Adjusted operating income is expected to reach $3.47 billion for the year with a 28% margin, while adjusted diluted earnings per share are projected to increase 70%.

Cash App has remained one of the main contributors to the company’s financial performance. Monthly transacting active users increased 3% year over year in June, while Cash App Commerce Enablement volume rose 17% and consumer lending originations increased 59%.

Block has continued investing in artificial intelligence after reducing its workforce by roughly 40% in February. The company said agentic AI helped write and review nearly all production code changes during June as it increased the use of internally developed tools across its operations.

One of those tools, Builderbot, had already been handling about 15% of production code changes earlier in the year. As crypto.news reported in June, the system was running more than 200,000 operations per day and merging roughly 1,500 pull requests each week.

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Mizuho analysts raised questions about Block’s operating costs following the second-quarter results despite the workforce reduction. The bank estimated adjusted operating expenses would increase from $4.48 billion in the first half of 2026 to $4.56 billion during the second half based on the company’s guidance.

Mizuho maintained an Outperform rating and a $100 price target while questioning whether Block would need further investment to increase Cash App monthly active users.

Block has continued expanding its Bitcoin exposure alongside its payments and AI businesses. In August, the company increased its Bitcoin treasury by 85 BTC to 9,117 BTC, placing it 15th among publicly tracked corporate Bitcoin holders at the time.

The purchase came weeks after Block entered the S&P 500 in July, replacing Hess Corp. following Chevron’s acquisition of the oil producer.

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Ark Invest buys more Circle shares

Ark’s Monday trades extended beyond Block, with the investment manager buying another 35,192 shares of stablecoin issuer Circle Internet Group.

The Circle purchase was worth roughly $3.36 million based on Monday’s closing price of $95.55. Unlike Block, Circle finished the session sharply higher, gaining 9.65% after falling 7.5% on Friday.

The purchase continues Ark’s accumulation of Circle shares during 2026. In July, the firm bought 220,012 shares worth approximately $13.9 million after CRCL fell below $64, distributing the position across ARKK, ARKW and ARKF.

Ark returned to the stock later that month, purchasing 109,129 Circle shares worth approximately $6.83 million after the stablecoin issuer received a limited-purpose trust charter from the New York Department of Financial Services.

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Circle’s shares have since recovered, gaining 52.6% over the past month.

Bernstein maintained an Outperform rating on Circle last week and set a $140 price target. The brokerage cited USDC adoption across stablecoin payments, blockchain-based capital markets and emerging agentic payment applications among the areas supporting its outlook.

The brokerage said USDC supply had increased by about $1.7 billion during the preceding week following nearly six months of mostly flat growth. Adjusted stablecoin transaction volume was running at an annualized pace of roughly $17 trillion through July, compared with roughly $11 trillion during 2025.

Bernstein estimated that Circle’s stablecoin accounts for roughly 80% of decentralized exchange trading and finance volumes. The company has expanded its payment infrastructure around USDC as well, with more than 900 paid services using Agent Stack and 99.3% of x402 agent payment volume settling in USDC, according to the brokerage’s latest Circle assessment.

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Circle reported $701 million in second-quarter revenue, up 7% year over year, while USDC circulation reached $73.3 billion at the end of the period.

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Coinbase Tokenization Bet Remains a Platform Hypothesis

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🇯🇵

Can an iPhone comparison substitute for a business model? Coinbase CEO Brian Armstrong has argued that tokenized assets could reshape finance much as the iPhone enabled a new generation of technology companies. The comparison presents a platform thesis: blockchain-based assets could support businesses that are not yet apparent.

Armstrong made the case earlier in the week on X, comparing blockchain tokenization with the iPhone’s role in enabling companies such as Uber, TikTok, and Coinbase. He said tokenized assets could have a similar effect on financial markets and identified global access, better utility, and around-the-clock trading as immediate benefits.

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Why Tokenized Finance Is Part of the Growth Conversation

Tokenized assets are digital tokens created on a blockchain that represent ownership or rights to real-world physical or financial assets. Armstrong’s argument is that moving these assets onto blockchains could create a foundation for new finance companies, rather than simply reproducing existing markets in a different format.

Japan’s financial regulators and major financial institutions planned to study blockchain infrastructure for real-time settlement of stocks and bonds, with a strategy targeted by early 2027 and possible operations in the early 2030s. The proposal could tokenize bank deposits held at the Bank of Japan into digital currency for institutional blockchain settlement.

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The Japanese effort is a multi-year regulatory and infrastructure process, not evidence of an imminent replacement for existing markets. Still, it shows that institutions and regulators are examining whether blockchain systems can support settlement for conventional financial assets.

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Coinbase Strategy

Coinbase has been expanding beyond crypto into stocks, prediction markets, and other products as part of a broader effort to offer customers access to more than one type of tradable asset. That strategy is intended to diversify the company’s revenue streams and broaden its customer base, although its success remains uncertain.

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For now, Coinbase’s stock offering is conventional rather than tokenized. The company has relied on Apex Fintech Solutions for backend operations, and the offering was initially available to a small group of users, with plans to expand it to all customers.

Armstrong has said Coinbase sees a longer-term role in connecting traditional finance and crypto, including helping tokenized equities gain traction. He has also said the more compelling form of tokenization would be an asset represented one-to-one on a blockchain, with the associated rights of that asset.

Brian Armstrong sees tokenized assets reshaping finance, but Coinbase lacks proof they are yet a material product or growth engine.

Discover: The Best Crypto to Diversify Your Portfolio

The Case Against Calling It a Growth Engine

The central limitation of the current thesis is straightforward: Armstrong’s public comments outline a direction for tokenized finance, but they do not provide Coinbase-specific measures of product adoption, transaction volume, or revenue from tokenized assets.

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There is also a difference between a belief that assets will increasingly move onto blockchains and proof that a particular company will lead that transition.

Coinbase’s expansion into conventional stock trading may create a broader customer offering, but it does not establish demand for tokenized equities or show how quickly the necessary regulatory and market infrastructure will develop.

Brian Armstrong sees tokenized assets reshaping finance, but Coinbase lacks proof they are yet a material product or growth engine.
The United States Capitol building in Washington, D.C.

Regulatory timing remains especially important. Congress has been debating the Clarity Act, legislation aimed at creating a framework for integrating crypto into the broader financial system, but that process has faced disagreements involving the crypto industry and banking sector.

Armstrong has said that newer companies may be the first to issue stock natively on a blockchain, while predicting a broader transition over time. Those are expectations rather than completed market developments.

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Bitcoin’s Rally Faces Fresh Test as Rate Fears Grow: Bitfinex

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Bitcoin’s August rally is facing a tougher test as fresh ETF demand meets growing expectations for tighter U.S. monetary policy. The cryptocurrency is holding above $77,100, but its next move may hinge on whether fresh liquidity can offset rising rate risks, according to Bitfinex Alpha.

This tension was evident in Bitcoin’s recent price action. Bitcoin closed above $80,000 on August 27 for the first time since May, ending at $80,256 after briefly reaching $81,500. It later fell to $76,857 after Federal Reserve Chair Kevin Warsh’s Jackson Hole remarks pushed markets to reassess the outlook for U.S. rates.

Bitcoin Holds Up Despite Rate Fears

The pullback came as markets raised the implied probability of a September rate increase from the mid-30% range to about 60%. Warsh also stressed the Federal Reserve’s 2% inflation target and suggested that monetary policy may not yet be restrictive enough.

Despite the shift in rate expectations, Bitcoin showed some resilience. It closed Friday only about 3% lower and remained above previous range highs through the weekend. Bitfinex identified $77,100 as an important volume-node support level after it helped define the cryptocurrency’s August breakout.

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Continued ETF demand may have helped support that resilience. U.S. spot Bitcoin ETFs recorded $924.5 million in net inflows last week despite $202 million leaving the products on Friday. The funds had attracted $3.04 billion during the previous nine sessions, showing continued demand despite shifting expectations around U.S. monetary policy.

Beyond ETFs, stablecoin liquidity also remains relevant to the broader crypto market because it can provide capital for digital assets. However, the Bitfinex report points more directly to ETF demand as a key driver of Bitcoin’s current liquidity conditions.

Market Positioning Remains Stable

Bitcoin’s derivatives market has remained relatively controlled during the rally, according to the report. Perpetual futures open interest reached $55.6 billion, about 20% above the start of August, while funding rates and futures basis remained contained.

Meanwhile, on-chain data points to a shift in Bitcoin ownership. Wallets holding 1,000 to 10,000 BTC have reduced their balances by about 50,500 BTC since late June, while exchange and ETF custodial wallets have added roughly 59,100 BTC.

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Trump Warns Towns Rejecting Data Centers Will End Up “Backwards and Poor”

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Keir Starmer Resigns After Trump Predicted UK Leadership Departure

President Donald Trump told American communities to stop fighting data center projects. Writing on Truth Social on Monday, he warned that towns that reject them will end up backwards and poor.

Republicans now face rising voter anger over data center construction before November’s midterm elections.

Trump Calls Data Centers a Golden Goose

Trump framed the buildout as a national economic prize. Towns accepting the facilities gain jobs and lower taxes, he argued. Rival locations are waiting to absorb rejected projects.

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Meanwhile, artificial intelligence (AI) projects now face opposition in both Republican-run and Democratic-run areas. Residents cite higher electricity bills, water use, and strain on local grids.

Officials have answered with permit pauses and outright bans. Pennsylvania Governor Josh Shapiro tightened the review rules for large projects.

Texas Governor Greg Abbott paused new grid connections pending an audit. New York imposed a statewide hyperscale data freeze in July.

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A Heatmap Pro review found that more than 500 counties and municipalities were restricting or blocking new facilities by late July. Trump framed that resistance as a gift to Beijing.

“The good news is that there are plenty of other places that want them. If we kill the Golden Goose, you will only have yourselves to blame. China could not be happier with this anti-Data Center movement. Actually, they can’t believe it is happening!” he said.

Sanders Rejects Trump’s Framing as GOP Nerves Grow

Sen. Bernie Sanders responded on X. The Vermont independent said opponents are defending their communities, not choosing poverty.

“No, Mr. President, the 75% of Americans who oppose data centers in their communities do not want to be ‘backwards and poor.’ They want a decent future for themselves, their kids and their communities… They have every right to be concerned,” he said.

The president’s own party has grown nervous. A private memo from the National Republican Senatorial Committee, obtained by Axios, warned that the campaign against data centers would spread far beyond Ohio unless voter perceptions changed quickly.

Sen. Jon Husted faces Democrat Sherrod Brown there. Brown has made opposition to data centers a central campaign theme.

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“If he loses and data centers get the blame, politicians across the country will take notice — and they will not go near the next one…This has become a sleeper issue for the entire election cycle,” the memo reads.

Whether Trump’s jobs-and-taxes pitch lands will show if the White House can slow a movement that has already crossed party lines.

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How Americans use FT Mining cloud mining to earn passive income in Bitcoin, Ethereum, and Dogecoin daily

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The CLARITY Act sparks an XRP-led rally across major altcoins, enabling investors earn $6,500 through SHRMiner cloud mining

As the regulatory framework for the U.S. cryptocurrency market gradually matures, an increasing number of investors are seeking compliant and efficient ways to acquire digital assets. 

Thanks to its innovative business model and rigorous security standards, the FT mining cloud mining platform is emerging as the preferred choice for U.S. investors looking to obtain Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE) on a stable, daily basis.

New opportunities for compliant cloud mining in the U.S.

Assurance of compliant operations:

FT mining holds a license from the UK Financial Conduct Authority (FCA) and complies with financial service regulations across multiple U.S. states. The platform ensures the security of user funds through third-party custodial services and adheres to tax reporting requirements, providing a fully compliant mining environment for U.S. investors.

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Enhanced security:

The platform utilizes top-tier security technologies from McAfee® and Cloudflare® to ensure your digital assets remain protected, wherever you are.

24/7 reliability:

With 100% uptime and round-the-clock technical support, the mobile app ensures uninterrupted mining.

Instant rewards:

New users receive an immediate $15 sign-up bonus and a $0.75 daily login bonus upon registration.

Diverse contract options:

Users can choose from a variety of mining plans—ranging from low-cost daily contracts to long-term investments—to suit different budgets and goals.

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How to start your free mining journey with FT Mining

Step 1: Choose FT mining as your service provider:

FT mining offers a simple and transparent mining process. The platform provides daily returns on mining contracts and flexible payment options, making it accessible to everyone.

Step 2: Register an account:

Visit the official FT mining website at https://ftmining.com

Enter your email address to create an account, log in, and access your dashboard to start mining immediately.

Step 3: Purchase a mining contract:

FT mining offers a variety of contract options to suit different budgets and goals. Users can choose from the following:

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Starter Contract: $100 — 2-day term — Total profit approx. $108

Stable Contract: $800 — 5-day term — Total profit approx. $852.80

Professional Contract: $5,000 — 20-day term — Total profit approx. $6,520

Premium Contract: $25,000 — 28-day term — Total profit approx. $38,300

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Visit the official website for more contract details.

Once an order is completed, earnings are automatically credited to your account within 24 hours. Once your account balance reaches $100, you can withdraw funds to your personal wallet or reinvest them to generate further returns.

Success stories from U.S. investors

Michael, a tech professional from California, shares:

“I allocated a portion of my funds to FT mining’s multi-currency mining packages, and now I earn BTC, ETH, and DOGE consistently every day. This diversified approach allows me to maintain steady returns even in a volatile market.”

Sarah, a retired fund manager from New York, states:

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“As a traditional finance professional, I place great importance on platform compliance and transparency. CryptoEasily provides daily earnings reports, and checking my returns every morning has become a habit. It is far easier than any side hustle I’ve done in the past.”

About FT mining

FT mining is a UK-licensed cloud cryptocurrency mining platform. Established in 2021 and headquartered in London, the company is dedicated to providing efficient and affordable cryptocurrency mining solutions by leveraging advanced hardware, intelligent algorithms, and cloud infrastructure. With over 10 million users across more than 180 countries and regions, FT mining delivers convenient and scalable cryptocurrency mining services to a global audience.

Visit the official FT mining website or download the official app today to experience free cloud mining services and start earning steady daily passive income with ease.

Official Website: https://ftmining.com

App Download: https://ftmining.com/xml/index.html#/app

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Customer Service Email: [email protected]

Disclosure: This content is provided by a third party. Neither crypto.news nor the author of this article endorses any product mentioned on this page. Users should conduct their own research before taking any action related to the company.

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Hugging Face’s new duck robot is selling fast. A Chinese chip powers it

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Hugging Face's new duck robot is selling fast. A Chinese chip powers it

The Microduck robot is set to come with a range of pre-installed actions, according to its developers HuggingFace and Pollen Robotics.

Pollen Robotics

BEIJING — A popular new programmable personal robot from a French-American company is powered by a chip from Shanghai-listed Rockchip which in turn uses British company ARM’s tech, reflecting how intertwined global tech supply chains remain.

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The colorful “Microduck” robot from Hugging Face’s French subsidiary Pollen Robotics has sold more than 10,000 units since its launch on Thursday — earning over $4 million based on the $399 unit price. That’s quickly delayed delivery times for new orders past the initial promise of Christmas 2026.

The duck-shaped robots contain their own set of sensors, motors and on-device computing power from Rockchip’s RK3566. The chip incorporates technology licensed from British semiconductor company ARM, according to Rockchip.

The Chinese company is a “key vendor” for AI that operates on devices, rather than in the cloud, said Lian Jye Su, chief analyst at Omdia. He noted the company’s chips are commonly used for machine vision involving object detection and image recognition.

“While it has massive footprint, the company chips are not designed for complex edge AI devices as they lack the compute resources,” Su said. Such computing capabilities can allow smartphones, robots and other electronic devices to run generative AI tools securely without sharing data on the internet.

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Rockchip last month reported a 40% year-on-year increase in operating revenue in the first half of the year to 2.88 billion yuan ($428 million), while net profit excluding one-time items surged by more than 60%.

The 1.76 pound (800g) Microduck is both an interactive consumer toy and a development platform. Using open-source software, it can supposedly learn from virtual simulations and goal-driven directions.

The product is the second robot from France-based startup Pollen Robotics, which was acquired by Hugging Face last year. The first robot by Hugging Face and Pollen Robotics, launched last spring, sold more than 10,000 units, Pollen Robotics said.

Just before Microduck’s release, The Information reported that Nvidia had agreed to buy Hugging Face for $12.9 billion. Neither company responded to a request for comment.

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Hugging Face co-founder Thomas Wolf said in a social media post Monday that people were starting to monitor the Microduck supply chain, as the company sees a strong rush for orders.

Other companies are rolling out similar personal robots at premium-end consumer prices.

Startup Zeroth this summer launched a child-sized humanoid robot for 8,888 yuan that claims to offer similar virtual simulation learning capabilities. It lists 247 pre-orders on JD.com in China. The company plans to reveal its open source robotics system on Wednesday.

Meanwhile a Wall-E-type cameraman robot from Mondo Robotics has raised more than 80 times its initial goal of $50,000 on Kickstarter ahead of the Sept. 6 deadline. Early bird prices for the device, which resembles a GoPro on wheels, start at $549, with shipping scheduled to begin in October.

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—CNBC’s April Roach and Kai Nicol-Schwarz contributed to this report.

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Ripple unlocks 1B XRP as escrow falls to 31.28B

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Ripple wins EU-wide access as ESMA adds it to MiCA register

Ripple unlocked 1 billion XRP on Sept. 1 through three transactions involving 500 million, 400 million and 100 million tokens. 

Summary

  • Ripple released one billion XRP through three escrow transactions on September 1, blockchain data showed.
  • The releases comprised 500 million, 400 million, and 100 million XRP from Ripple-controlled escrow accounts.
  • Approximately 31.28 billion XRP remained locked afterward, according to a tracker reading active on-ledger escrows.
  • An escrow unlock makes XRP available to Ripple but does not prove any market sale.
  • Ripple historically re-escrows unused tokens, but September’s returned amount was not yet independently confirmed publicly.

Blockchain monitoring account Whale Alert reported the transfers from Ripple-controlled escrow accounts.

The release formed part of Ripple’s programmed monthly XRP escrow schedule. It did not show that the company sold the tokens or transferred the entire amount to exchanges. The XRP became available to Ripple after the underlying time locks expired.

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Ripple’s XRP unlock leaves 31.28B in escrow

Approximately 31.28 billion XRP remained inside active on-ledger escrow objects after the September release, according to an independent tracker that queries validated XRP Ledger data. The figure represented about 31.28% of XRP’s original 100 billion supply.

The tracker recorded approximately 32.28 billion XRP in escrow before the three September transactions. Completing escrow objects containing a combined 1 billion XRP reduced that balance to 31.28 billion.

This figure should still be attributed to the tracker rather than presented as a new company disclosure. Ripple had not published an updated official escrow balance at the time of reporting. Different data services can also show temporary discrepancies when they rely on cached figures instead of active ledger objects.

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The remaining balance does not represent Ripple’s entire XRP position. Ripple also controls operational wallets containing previously released XRP. Those holdings are separate from tokens still restricted by active time-based escrow contracts.

The 1 billion XRP release was not a market sale

Ripple originally placed 55 billion XRP into escrow in December 2017. The company said the arrangement would make its supply schedule more predictable by allowing up to 1 billion XRP to become available each month.

The escrow restrictions operate through the XRP Ledger rather than through an informal company commitment. Ripple’s original explanation said ledger mechanics enforced each release date through consensus.

An EscrowFinish transaction delivers the locked XRP to its designated account once its release conditions are satisfied. It does not automatically send the tokens to an exchange, buyer or liquidity provider. The transaction therefore cannot establish how much XRP will ultimately reach the broader market.

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The XRP Ledger’s technical documentation also distinguishes between creating, finishing and cancelling an escrow. A completed escrow removes the time restriction, but subsequent wallet activity determines the tokens’ eventual use.

That distinction matters because headlines describing a 1 billion XRP unlock can imply an immediate increase of the same size in tradable supply. In practice, Ripple has regularly returned unused tokens to new escrows with later release dates.

Re-escrow transactions will determine the net release

Ripple’s historical pattern has been to use part of each monthly release for operations, institutional transactions and other corporate purposes, while locking the unused portion again. The company said from the beginning that unused XRP would enter new escrows at the end of the existing release schedule.

As crypto.news previously explained in its guide to Ripple’s monthly XRP escrow process, the company has often returned between 600 million and 800 million XRP after monthly unlocks. The historical range does not confirm what Ripple will do with September’s tokens.

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No independently verified re-escrow total for the September release was available when this report was prepared. New EscrowCreate transactions would provide on-chain evidence of how much XRP Ripple returned to time locks.

The net supply change can only be calculated after those transactions and any transfers from Ripple’s operational wallets are reviewed. Even XRP that remains outside escrow does not necessarily enter public trading markets immediately.

Ripple’s next scheduled XRP unlock arrives in October

The next monthly release window is scheduled for Oct. 1. Up to another 1 billion XRP could become available, although the exact structure will depend on the escrow objects reaching their programmed release dates.

Ripple cannot bring forward the release dates of XRP held in its existing time-based escrows. The ledger rejects attempts to finish an escrow before its specified date. This issue previously surfaced when an XRP ETF filing raised questions about Ripple’s escrow restrictions.

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Future re-escrow transactions will also extend the schedule. When Ripple locks unused XRP again, the company generally places it behind the escrows already waiting in the release queue.

XRP traded near $1.39 around the reporting period and was higher over the preceding 24 hours. However, the scheduled unlock alone does not establish the reason for that movement. XRP prices also respond to broader crypto markets, liquidity, institutional activity and developments affecting Ripple or the XRP Ledger.

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Gold Drops 5.5% From 3-Month High but Goldman Sachs Still Sees 10% Upside

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Gold Price on September 1.

Gold has fallen 5.5% from the 4,697 three-month high it reached on August 25, trading near 4,436 at press time. Goldman Sachs still expects 4,900 by year-end.

The slide has pushed the metal under its 200-day moving average. Barchart said gold has now recorded multiple closes below the line, the first since early June.

Gold Price on September 1.
Gold Price on September 1. Source: TradingView

Gold Rally Stalls at a Level Traders Watch Closely

The 200-day moving average tracks an asset’s average closing price over the previous 200 sessions. Gold now sits under that line, which stood near 4,529. The metal briefly traded below 4,400 on Monday, its weakest level since August 19.

Barchart noted that the SPDR Gold Shares fund entered a technical correction the last time gold logged multiple closes below the average. That precedent covers one prior episode, not a pattern.

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Renewed bets on a Federal Reserve rate hike have driven the latest leg down. Higher rates weigh on gold because the metal pays no yield.

Goldman Sachs and Fidelity Still Point Higher

Nonetheless, Goldman Sachs Research reaffirmed its 4,900 target for the end of 2026 in a note published August 28. From the press-time price, that implies roughly 10% upside.

The bank had cut that target by $500 in June as bets on 2026 rate cuts faded. The reduced figure still indicated gains, just smaller ones.

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Senior commodities analyst Lina Thomas and Global Commodities Research co-head Daan Struyven anchored the call on official buying.

“We continue to see elevated central bank gold accumulation as a multi-year trend, as central banks diversify their reserves to hedge geopolitical and financial risks, consistent with recent survey evidence,” they wrote.

The bank expects central banks to buy an average of 50 tonnes per month in 2026, up from 17 tonnes before 2022. 

Meanwhile, Fidelity’s analysis valued gold around 5,000 against the global M2 money supply, about 13% above the press-time price. 

The near-term risk is one Goldman already named. It’s June note put gold at 4,400 by year-end if the Fed hikes, and the metal traded there on Monday. A sustained break would also test the debasement trade, which ties gold and Bitcoin (BTC) demand to currency erosion

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Russia opens regulated crypto trading as new law takes effect

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Russia unveils draft rules for crypto exchanges and digital depositories

Russia’s first comprehensive legal framework for cryptocurrency trading, custody and cross-border settlements has taken effect on Sept. 1, opening regulated market access to retail and qualified investors under Bank of Russia supervision.

Summary

  • Russia’s crypto law took effect Sept. 1, bringing trading, custody and cross border settlements under a regulated framework.
  • Non qualified investors can buy up to 300,000 rubles of eligible cryptocurrencies annually through each intermediary after passing a suitability test.
  • Qualified investors can trade cryptocurrencies without the same purchase limit, although testing requirements still apply.
  • Bitcoin, Ether and USDT were among the cryptocurrencies proposed by the Bank of Russia for regulated trading.
  • Crypto can be used for cross border settlements, while payments for ordinary goods and services inside Russia remain prohibited.

The Bank of Russia said the rules allow both investor groups to conduct cryptocurrency transactions through regulated intermediaries, while access levels depend on investor status and mandatory testing. 

Non-qualified investors can buy up to 300,000 rubles worth of eligible cryptocurrencies each year through each intermediary, while qualified investors can trade without an amount limit.

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Russia crypto law opens regulated trading from Sept. 1

President Vladimir Putin signed the legislation on Aug. 4 after the State Duma passed the framework in its second and third readings in July. The law covers cryptocurrency exchanges, digital depositories, brokers, management companies, organized trading platforms and other financial institutions involved in digital asset transactions.

As crypto.news previously reported, the framework keeps separate conditions for non-qualified and qualified investors. Retail investors without qualified status must complete a suitability test before purchasing cryptocurrencies and can access only assets that meet liquidity requirements set by the regulator.

Qualified investors must complete testing as well but can buy and sell any cryptocurrency without the same annual purchase ceiling.

The Bank of Russia has been developing the secondary rules needed to operate the market. Its criteria for cryptocurrencies available to non-qualified investors consider market capitalization, average daily trading volume and pricing history on foreign platforms, with an asset required to have at least five years of price history.

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Bitcoin, Ether and Tether’s USDT were among the assets the regulator proposed for regulated trading in August. The final range available to retail investors will depend on the Bank of Russia’s eligibility requirements and the products offered by regulated intermediaries.

Russia changed its qualified investor rules shortly before the framework took effect. From Aug. 31, investors can gain qualified status by passing an approved domestic financial knowledge test and presenting an accepted Russian certificate.

The new qualification route includes certificates issued by the National Finance Association, Moscow Exchange and the National Association of Securities Market Participants. Existing qualification routes based on income, assets, relevant work experience, investing experience or education remain available.

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Crypto exchanges and custodians enter a regulated system

The law creates dedicated roles for cryptocurrency exchanges and digital depositories, bringing trading and custody services under a formal regulatory structure.

Crypto exchanges will handle purchases and sales, while digital depositories will record rights to cryptocurrencies and other digital assets. Brokers and management companies can facilitate transactions, including through organized trading platforms.

Under rules outlined during the legislative process, cryptocurrency exchange providers must enter a special register, hold at least 15 million rubles in equity and become members of an approved financial-market self-regulatory organization.

The Bank of Russia will maintain registers of regulated market participants and has prepared operating requirements for exchanges, depositories and digital currency accounts. Exchanges can set trading procedures through their own rules and will be responsible for calculating market and weighted average prices for listed instruments.

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Digital depositories face separate capital standards. Draft regulations published in July set minimum equity between 50 million and 250 million rubles depending on the services offered, including whether a depository works with open distributed ledgers or provides post-trade settlement services.

The draft operating standards cover record keeping, information about clients with access to the system, recorded assets and the opening and maintenance of digital accounts.

Market participants do not have to complete the entire licensing transition immediately. The Bank of Russia has provided a transition period until July 1, 2027, for affected businesses to obtain licenses and bring their operations into line with the new requirements.

Financial institutions have already started preparing services around the regulated structure. Sberbank plans to have cryptocurrency trading infrastructure and a digital depository ready by Dec. 1, with services expected to cover trading, custody, settlement and depository functions for eligible customers.

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Its planned crypto trading infrastructure forms part of preparations by major Russian financial companies for the regulated market. Alfa-Bank has tested cryptocurrency trading through its Alfa-Investments brokerage application with a limited group of qualified investors, while other institutions have worked on custody infrastructure.

Cross-border crypto settlements receive a legal route

The framework keeps Russia’s prohibition on cryptocurrency payments for ordinary goods and services inside the country, meaning digital currencies do not become legal payment instruments for domestic commerce.

Foreign trade receives different treatment. Exporters and importers can use cryptocurrency for cross-border settlements without an amount limit under the new framework, according to the Bank of Russia.

Companies can conduct eligible transactions through intermediaries or directly using different cryptocurrency wallets and digital currencies. The rules formalize a route for cross-border crypto settlements after Russia had previously tested such transactions under an experimental legal regime.

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The State Duma’s final approval of the framework in July covered trading, custody and foreign trade while maintaining restrictions on domestic cryptocurrency payments.

Russian residents can conduct cryptocurrency transactions abroad using foreign bank accounts. Crypto purchased domestically can be transferred overseas through regulated intermediaries, while cryptocurrency holdings recorded abroad must be reported to Russian tax authorities.

The law extends beyond purchases and foreign trade. Investors can exchange cryptocurrencies for securities and digital instruments issued under Russian law, while requirements applying to cryptocurrencies will cover foreign stablecoins as well.

During the bill’s passage, lawmakers removed a proposed requirement for cryptocurrency holders to disclose their wallet addresses. The revised version instead retained reporting requirements involving information such as balances and transaction volumes while introducing rules for certain transfers.

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Some crypto rules will take effect later

Sept. 1 brings the core provisions into force, but several parts of the framework follow separate implementation schedules.

Rules involving certain transfer restrictions and the operation of nonresident digital depositories are scheduled to take effect on July 1, 2027. Technical provisions governing the issuance and circulation of digital financial assets, nominal holders and depositories are set to follow on Sept. 1, 2027.

The Bank of Russia has continued drafting secondary regulations while the main law moves into force. In August, the regulator proposed including cryptocurrencies in calculations used to measure the financial resilience of professional market participants.

Under the proposal, brokers, trustees, forex dealers and cryptocurrency exchange providers would be able to include only exchange-listed cryptocurrencies when calculating equity. Eligible crypto could account for no more than 25% of assets included in the calculation and would have to be registered with a crypto depository.

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Russia is beginning another digital asset rollout on the same date. Major banks are required from Sept. 1 to give clients access to digital ruble transactions, while large retailers that meet the applicable revenue threshold must support payments using the central bank digital currency.

The digital ruble rollout will proceed in stages through 2028, when the remaining covered banks are scheduled to join the system.

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Is AI America's Next 9/11-Scale Blind Spot? House Intel Thinks It Might Be

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AI Is Handing Hackers Tools That Once Belonged to Elite Attackers

A new House Intelligence Committee report calls artificial intelligence (AI) one of the most significant emerging challenges facing US national security.

The warning appears in the committee’s 25-year review of the 9/11 Commission Report, posted ahead of the anniversary.

Why the 9/11 Framework Has Aged

The 2004 commission built its recommendations around foreign terrorist networks. Those recommendations led to the Office of the Director of National Intelligence and the National Counterterrorism Center.

The new review says the intelligence challenge has since expanded beyond counterterrorism coordination. It says threats often overlap as adversaries combine cyber operations, influence campaigns, and economic pressure.

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Benjamin Buchanan teaches at the Johns Hopkins School of Advanced International Studies. In his testimony, he said AI poses a familiar problem.

“T]he 9/11 Commission famously concluded that the attacks revealed a failure of imagination. The government’s inability to take seriously a threat that did not fit existing categories and to connect information scattered across institutional seams led to devastating strategic surprise. Twenty-five years later, AI presents, in its own way, a similar kind of challenge,” he said.

Buchanan added that technological progress is outpacing institutions’ ability to adapt.

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Where the Report Sees AI Risk

The report says cyberattacks will likely accelerate as AI improves. Buchanan testified that AI sharpens both offensive and defensive cyber tools.

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Private industry issued a similar warning days earlier. OpenAI and over 100 companies signed an open letter warning that AI-enabled attacks will spread within months. Five Eyes agencies said the same in a June statement.

Biotechnology raises separate concerns. Former national security adviser H.R. McMaster warned that AI paired with biological research carries dual-use risk.

Foreign influence is a third area. Review co-chair Rep. Josh Gottheimer named Iran, China, and Russia. He said they have run covert operations against the United States since 2023.

“AI super charges all of it. A single adversary can now generate fake voices and fake videos and millions of fake messages,” he added.

The report also cites public reporting on AI data centers. China and Russia may be working to inflame existing US debates over new sites, it says, exploiting legitimate concerns about cost.

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The committee wants the Intelligence Community, the network of US agencies that collect and analyze intelligence, to adopt advanced AI itself, since adversaries already are.

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Solana AMM Aquifer hit by $2.5 million exploit, offers 20% bounty

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Gnosis Pay exploit tied to Zodiac delay module as users exit

Solana-based automated market maker Aquifer has lost roughly $2.5 million in an exploit involving wallets on Solana and Ethereum, with the protocol offering the attacker a 20% bounty for returning most of the funds.

Summary

  • Solana based AMM Aquifer lost roughly $2.5 million in an exploit involving attacker addresses on Solana and Ethereum.
  • Aquifer offered the attacker a 20% whitehat bounty if at least 80% of the assets are returned by Sept. 3.
  • The exact point of compromise remains unclear, with no technical post mortem yet establishing how access to the affected wallets was obtained.
  • Available information has not established that Aquifer’s smart contracts were exploited, leaving compromised wallet access as the main focus of the incident so far.

Blockchain security monitoring service Defimon reported the attack on Aug. 31, identifying separate Solana and Ethereum addresses controlled by the suspected exploiter. Aquifer later sent an on-chain whitehat offer seeking the return of at least 80% of the assets linked to the incident.

The offer gives the attacker until Sept. 3 at 14:00 UTC to transfer the assets, or their equivalent value, to recovery addresses provided by Aquifer. The person controlling the wallets may retain up to 20% of the funds as a whitehat bounty if the conditions are met.

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Aquifer said it would not pursue civil claims arising from the exploit if the attacker complies with the terms, subject to applicable law. The agreement would not bind law enforcement agencies, regulators, sanctions authorities or other government bodies.

Aquifer exploit involves wallets on two chains

Aquifer operates as a proprietary automated market maker on Solana, where its liquidity is used to facilitate token swaps. DefiLlama describes the protocol as a prop AMM and currently lists its total value locked at around $2.8 million.

The addresses identified after the exploit show activity spanning Solana and Ethereum. Defimon linked the Solana address 7fTe9pvrwXJRBHq9MaSyVPR4PgEuhqLiA93Dxf4gRk7J and Ethereum address 0x2Dfe9e969796e2797278b02761dd9Ad6aE922746 to the attacker.

Aquifer’s whitehat message was authorized through the protocol’s Solana upgrade authority and published on-chain. The project supplied separate recovery addresses for Solana and Ethereum, allowing assets associated with the attack to be returned on either network.

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Public information has not yet established exactly how the wallets were compromised. No technical post-mortem has been released explaining whether private keys, administrator credentials or another part of Aquifer’s operational infrastructure was exposed.

Available information similarly does not establish that Aquifer’s smart contract code was exploited. The use of addresses across Ethereum and Solana provides a trail for investigators tracking the assets, but does not by itself identify how access to the affected funds was obtained.

The incident follows several Solana-related attacks this year where the point of compromise was outside the underlying blockchain.

Solana protocols have faced different attack methods

In June, crypto.news previously reported that five legacy liquidity pools belonging to Raydium lost roughly $1.3 million after an attacker targeted retired AMM infrastructure.

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On-chain investigator Specter said the Raydium attacker used a fake mint address to bypass validation checks in an older AMM program. The stolen assets included roughly 150,177 RAY, 5,603 SOL and 893,700 USDC.

Raydium said its active pools and current users were unaffected because the vulnerable infrastructure had already been phased out. The protocol committed to reimbursing the affected assets from its treasury.

A separate July incident involving Across Protocol produced losses of less than $4 million after an attacker fabricated Solana deposit events. The attacker created 1,627 fake deposits with a combined stated value of $41.7 million and requested payouts across 18 destination chains.

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Risk Labs’ relayer processed 581 of the fraudulent requests before Solana operations were suspended, advancing approximately $4.5 million of its own capital. Around $500,000 belonging to the attacker remained trapped, bringing the net loss below $4 million.

Across later said the Solana attack stemmed from a flaw in Risk Labs’ off-chain event-reading software and not a vulnerability in its smart contracts or the Solana network. Legitimate user transfers were completed or refunded.

Operational security failures have produced losses elsewhere without attackers needing to exploit smart contract logic.

Wallet access has become a major attack route

Stablecoin payments company Triple-A confirmed in July that unauthorized access to its treasury wallets resulted in the theft of company-owned digital assets. On-chain researchers initially tracked suspicious withdrawals across Ethereum, Solana, TRON and TON, with some reports identifying activity on Polygon and Arbitrum.

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Triple-A later said client funds remained unaffected because customer assets were segregated from the compromised treasury infrastructure. Researchers had estimated the loss at roughly $11.8 million before the company confirmed the breach.

The company did not disclose whether the attacker obtained private keys, credentials or another form of access. Triple-A said cybersecurity specialists and Singapore police were working on the investigation and asset tracing.

Private key and wallet compromises have accounted for a substantial portion of crypto thefts in 2026. CertiK reported in July that digital asset losses reached $1.32 billion during the first half of the year, down 46.8% from the same period in 2025.

Despite the lower total, the security firm said wallet compromises became the largest attack method during the second quarter, replacing phishing as the main source of losses.

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Another Solana project, Step Finance, ultimately shut down its operations after an attack earlier this year targeted devices used by members of its executive team. Attackers gained access to treasury and fee wallets and moved approximately 261,854 SOL, while later estimates placed total losses across affected assets near $40 million.

Investigators determined that Step Finance’s smart contracts were not the point of entry. Compromised endpoints allowed the attackers to access wallets used by the project, and the financial damage later contributed to the decision to wind down the platform.

A similar distinction will depend on Aquifer publishing more details about its own breach. The protocol has not released a post-mortem identifying the initial point of access, the specific credentials involved or whether one compromised account provided control over multiple wallets.

For now, Aquifer’s recovery process centers on its whitehat proposal. The attacker has been offered the right to retain up to 20% of the assets associated with the exploit if at least 80% is returned to the designated recovery addresses by Sept. 3 at 14:00 UTC.

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