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DeFi Rules Set to Guide Wall Street as Crypto Matures

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Regulation is poised to reshape Decentralized Finance into a tightly interconnected network of ecosystems, each with its own risk, compliance and access profile. It won’t carve DeFi into two isolated camps—one fully compliant and the other entirely open—but rather will knit together multiple lanes that can interoperate at the contract level. This perspective, offered by Mitchell Amador, founder and CEO of Immunefi, suggests a future where regulatory pressure in 2026 accelerates a layered DeFi world that embraces both permissionless innovation and regulated access.

Amador argues that DeFi has never operated as a single monolith. Instead, it has always lived in parallel lanes that cater to different risk appetites and user bases. The first lane remains permissionless: anyone can deploy, provide liquidity or use leverage without identity verification. This is where price discovery and stress testing occur in public view, and where the sector has historically moved faster than traditional financial players. A second lane includes protocols with built-in safeguards—liquidation rules, governance structures and oracle protections—yet without identity requirements. The newest tier adds a heavily controlled access point, with KYC, geofencing and compliance filters at the gateway. Yet the same underlying smart contracts can be reached through various entry points.

Key takeaways

  • DeFi operates across multiple compliance lanes today. Permissionless networks coexist with guarded but non-identifying protocols, creating a spectrum of risk management and liquidity options.
  • Liquidity drives cross-lane interoperability. Capital seeks onchain liquidity, 24/7 global access and rapid settlement, pushing regulated sectors to engage with permissionless infrastructures.
  • The GENIUS Act and institutional appetite for yield push activity into DeFi. By limiting yield-bearing stablecoins, regulators redirect capital toward DeFi protocols that offer attractive, onchain returns.
  • Security innovation begins in open markets and travels downstream. Lessons from permissionless ecosystems—bug bounties, real-time monitoring and AI threat detection—will inform institutional-grade defenses once proven effective.

Liquidity as the bridge between lanes

One of the central premises is that complete isolation of compliant DeFi is unlikely. Institutional participants will demand the liquidity and depth that onchain markets provide, including 24/7 access and fast settlement that traditional venues struggle to match. This dynamic means regulated platforms will increasingly ride on top of permissionless liquidity pools, rather than exist in a vacuum separate from the open sector. The GENIUS Act—widely discussed for its stance on yield-bearing stablecoins—illustrates a regulatory nudge that redirects capital toward onchain protocols in search of reliable returns.

Amador notes that the incentive to access deep liquidity is powerful enough to tolerate some complexity and risk, at least in the near term. If the onchain liquidity proposition remains compelling, the market will continue to push for more integrated frameworks where regulated actors can participate meaningfully without sacrificing core advantages of permissionless markets.

Security as an arena-driven evolution

Despite a recent history of high-profile exploits, Amador emphasizes that the center of gravity for robust security innovation will continue to sit in permissionless DeFi. The sector has produced a suite of defensive tools—bug bounty programs, real-time monitoring, and increasingly sophisticated AI-driven threat detection—that mature and then migrate to institutional environments as confidence in these approaches grows. The article notes that even as losses from hacks and exploits have topped billions in recent periods, the onchain security playbook developed in the open market remains the most effective proving ground for new defenses, which can later be standardized for broader adoption.

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As part of this evolutionary cycle, onchain “firewalling” and automated vulnerability scanning are likely to become standard in open DeFi and subsequently form a core part of institutional risk management. The broader message is that adversarial conditions—where security is truly stress-tested—drive the best defenses, and those defenses can lift the entire ecosystem as they are adopted across lanes.

Regulation as a catalyst for a connected DeFi future

The overarching forecast is not a fracturing of DeFi into incompatible silos but a maturation toward a set of interoperable layers that remain deeply linked through onchain architecture. Regulation is expected to mold the ecosystem into tiers with varying compliance and access permissions, while preserving the composability that makes DeFi uniquely powerful. For investors and builders alike, the implication is clear: regulatory clarity will invite more institutions to participate, not by abandoning innovation, but by plugging into a broader, more liquid and efficient network.

In this view, TradFi’s distance to DeFi shortens as institutions seek the efficiency and scale of decentralized markets. The structural advantages of onchain liquidity—nonstop operation, settlement speed and depth—remain compelling enough to motivate regulatory models that accommodate both innovation and risk controls. As Amador frames it, the future of DeFi is not a binary choice between compliant and permissionless worlds; it is a layered, networked ecosystem where governance, access and security evolve in tandem with regulatory expectations.

“The future of DeFi hinges on interoperability,” Amador writes, a sentiment echoed by observers who view regulation as a unifying force rather than a dividing line. As policymakers refine frameworks, the industry will continue to test and standardize security innovations in the open, with the expectation that these advances become the backbone of institutional adoption as well.

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Related commentary notes the growing interest in onchain alpha for sophisticated trading firms, underscoring how traditional finance is increasingly looking to open markets for liquidity and efficiency. For further context, see discussions around onchain opportunities for Wall Street’s advanced traders and the ongoing regulatory debates shaping yield and custody models in crypto markets.

Readers should keep an eye on how regulators define access gates and risk controls across different DeFi lanes, and which platforms prove most adept at maintaining liquidity while safeguarding users. The next set of policy decisions could determine which lanes become the default rails for institutional participation and which remain vibrant, experimental corridors that continue to push innovation forward.

Risk & affiliate notice: Crypto assets are volatile and capital is at risk. This article may contain affiliate links. Read full disclosure

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Hyperliquid HIP-3 Open Interest Hits $1.4B as Tokenized Commodities Surge

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Hyperliquid HIP-3 Open Interest Hits $1.4B as Tokenized Commodities Surge

Hyperliquid’s HIP-3 aggregated open interest smashed through records to hit $1.74 billion on Sunday, marking a 25% vertical climb from $1.39 billion just last week.

The surge is not being driven by Bitcoin or Ethereum, but by a massive capital rotation into tokenized commodities via Trade.xyz, the ecosystem’s dominant interface.

While the broader crypto market chugs sideways and traditional commodity markets face volatility, traders are aggressively bidding RWA (real-world asset) perp markets, with WTI crude oil volumes now flipping major crypto pairs.

  • Open Interest: Aggregated HIP-3 markets hit a record $1.74B, with Trade.xyz commanding 91.3% market share.
  • Key Driver: Tokenized commodities like WTI Crude and Silver are outpacing crypto native assets in volume.
  • Market Signal: Traders are using DeFi rails for 24/7 exposure to Middle East geopolitical risks, bypassing legacy market hours.

Data Deep Dive: Oil Flips Ethereum on Hyperliquid

The numbers confirm a structural shift in how traders are using Hyperliquid. Trade.xyz—built by Hyperliquid’s tokenization arm Hyperunit, now holds $1.58 billion in open interest.

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That is 91.3% of the total HIP-3 market. This is no longer a crypto-derivative story; it is a traditional asset story running on crypto rails.

On Monday, Trade.xyz reported 24-hour volumes peaking at $5.6 billion with over 45,300 unique daily traders. The composition of this volume is striking.

Source: Loris.tools

WTI crude oil generated $1.27 billion in 24-hour volume, followed by Brent oil at $1.04 billion and silver at $1.01 billion. For perspective, these RWA volumes effectively flipped Ethereum trading activity on the platform during peak hours.

Traders are voting with their liquidity: the HYPE token has rallied over 50% year-to-date, decoupling from Bitcoin’s 15% drawdown over the same period.

The driver is geopolitical, not technological. Escalating tensions in the Middle East have injected massive volatility into energy markets, creating an urgent demand for continuous price discovery.

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Traditional brokerage accounts close on Friday evenings and do not reopen until Sunday night or Monday morning. Hyperliquid’s HIP-3 markets never close.

Source: Tradingview

When news breaks over the weekend, legacy traders are frozen. On Hyperliquid, you can hedge immediately.

This 24/7 capability is solving a genuine market friction for tokenized commodities. The platform is capturing flows that would usually sit trapped in closed order books. As new derivatives platforms enter the market such as OneBullEx launching AI-native futures, the competition for this 24/7 liquidity layer is intensifying, but Hyperliquid currently has the first-mover massive volume advantage.

What to Watch Next

The growth of Trade.xyz validates the thesis that DeFi infrastructure can service traditional finance flows. However, the regulatory optics are heating up. As lawmakers scrutinize tokenization, the permissionless nature of HIP-3 listings could attract attention from the CFTC if US volumes are significant. Until then, the trend is clear: liquidity is moving on-chain.

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Traders should also monitor the rollout of HIP-4, which is currently in testnet. This upgrade introduces permissionless prediction markets, potentially expanding the ecosystem beyond commodities and into event contracts. If HIP-4 replicates the adoption curve of HIP-3, the HYPE token could see another repricing event as the protocol diversifies its fee generation further.

Discover: The best new crypto in the world

The post Hyperliquid HIP-3 Open Interest Hits $1.4B as Tokenized Commodities Surge appeared first on Cryptonews.

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Grab (GRAB) Stock Jumps Nearly 5% on $400M Share Repurchase Plan

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GRAB Stock Card

Key Highlights

  • Grab revealed plans to execute up to $400 million in share buybacks from its authorized $500 million program
  • The company entered a $250 million accelerated share repurchase deal with JPMorgan Chase
  • An additional contingent forward purchase agreement with Morgan Stanley accounts for up to $150 million
  • The entire repurchase initiative is financed through cash on hand without incurring new debt
  • GRAB shares increased 4.81% following the announcement; current analyst consensus sits at Buy with a $5.93 target

Shares of Grab Holdings (GRAB) advanced on Tuesday following the company’s disclosure that it plans to execute up to $400 million of its board-approved $500 million share repurchase authorization within the coming four-month period.


GRAB Stock Card
Grab Holdings Limited, GRAB

The Southeast Asian super-app operator made the disclosure through an SEC filing accompanied by a formal press release dated March 24, 2026.

The repurchase strategy consists of two distinct components. First, Grab established a $250 million accelerated share repurchase (ASR) arrangement with JPMorgan Chase Bank. This agreement provides Grab with an upfront delivery of approximately 54.9 million Class A ordinary shares, with final settlement quantities determined by volume-weighted average pricing through the completion date, anticipated during Q2 2026.

The secondary component involves a contingent forward purchase contract with Morgan Stanley & Co. LLC covering up to $150 million in value. This arrangement operates based on predetermined price levels and is set to conclude in July 2026.

At the time of publication, shares were trading 4.81% higher, signaling market enthusiasm for the capital allocation strategy.

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Cash Reserves Power the Repurchase

Grab is financing both agreements exclusively through its current cash position. The company disclosed gross cash liquidity totaling $7.4 billion and net cash liquidity of $5.4 billion as of December 31, 2025.

This robust financial position enables Grab to distribute capital to shareholders while maintaining operational investment capacity. Following completion of this buyback execution, $100 million remains available under the original $500 million authorization for potential future deployment.

The share repurchase program received Board of Directors approval in February 2026. This marks just the second such program in Grab’s corporate timeline.

Analyst Perspective

The latest analyst assessment on GRAB reflects a Buy rating, accompanied by a price objective of $5.93.

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Analyst models also identify an elevated P/E multiple and questions regarding cash-flow stability as continuing risk factors.

Grab’s market capitalization was approximately $14.93 billion when the buyback announcement was made.

The stock maintains an average daily trading volume of roughly 46.4 million shares.

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Aptos’ APT price jumps 10% but still trades 94% below ATH after regulatory clarity

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Aptos’ APT price jumps off record lows as volume spikes, regulatory clarity lands, and network usage hits new highs, but the token still trades near the bottom of its historical range.

Summary

Aptos (APT) price is trading near $1.03 today, with CoinMarketCap showing APT up 8.57–10.20% over the last 24 hours and a 24‑hour trading volume of roughly $238.56 million. CMC’s latest analysis notes that APT is up 9.93% to $1.04 in 24 hours, driven by a “high‑conviction volume surge” as spot trading volume jumps 175.51% to about $204.96 million, far above its 7‑day average. Despite this bounce, Aptos remains deeply depressed versus history: the token printed an all‑time low of $0.7926 on February 23, 2026 and still trades more than 94% below its all‑time high around $19.90.

Aptos’ APT price jumps 10% but still trades 94% below ATH after regulatory clarity - 1

Aptos is a high‑performance Layer 1 blockchain built by former Meta engineers from the Diem/Move initiative, designed for security, scalability and mainstream adoption. According to CoinMarketCap, the network now clears close to 10 million daily transactions with average fees as low as $0.00007, a level of throughput that contrasts sharply with the token’s depressed price. Proposal 183, ratified by the community on March 1, 2026, set a hard supply cap of 2.1 billion APT and permanently directed gas fees to be burned, introducing structural deflation as on‑chain activity grows.

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On‑chain and macro news flow has turned more supportive even as price lags. Recent CMC coverage highlights three major developments: the U.S. SEC has classified APT as a commodity, Binance is preparing to delist APT perpetual futures on March 25, 2026, and the network’s 10‑million‑transactions‑per‑day milestone is now paired with deflationary tokenomics. The removal of APT perps from Binance could temporarily sap derivatives liquidity and speculative open interest, but it also pushes price discovery back toward spot markets at a moment when volume is surging and the token is trading near historical capitulation levels.

In the wider smart‑contract sector, Aptos is still underperforming: CoinGecko data shows APT down about 9.90% over the past week, compared with a 0.70% rise in the global crypto market and a 1.70% gain for similar smart‑contract platforms, underscoring how sharp today’s bounce is relative to a still‑bearish medium‑term trend.

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Balancer Proposes Winding Down Labs, Ending BAL Emissions in Sweeping Reset

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Balancer Proposes Winding Down Labs, Ending BAL Emissions in Sweeping Reset

Five months after a $128M exploit rocked the protocol, Balancer is proposing its most radical restructuring yet.

The team behind veteran DeFi protocol Balancer has posted two sweeping governance proposals that would wind down Balancer Labs, consolidate all operations under a DAO-controlled entity, and end BAL token emissions entirely.

The operational restructuring proposal, posted on March 23, formalizes the wind-down of Balancer Labs OÜ, the Estonian entity that originally built the protocol, and consolidates all activity under Balancer OpCo Limited, a BVI entity that operates as a direct agent of the DAO.

The team would shrink from roughly 25 to 12.5 full-time equivalents, with an annual operating budget of $1.9 million — a 34% cut from the $2.87 million approved under the previous roadmap.

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The accompanying tokenomics revamp proposal, also published on Monday, goes further. It proposes halting all BAL emissions immediately, sunsetting veBAL — the protocol’s governance and yield-bearing token — and routing 100% of protocol fees to the DAO treasury. The move would replace a fragmented split that previously flowed to veBAL holders, core pool incentives, and partners.

To soften the blow for locked veBAL holders, the proposal includes a $500,000 compensation campaign paid in stablecoins over six months. The proposal also offers a BAL buyback and burn program capped at 35% of treasury holdings, or roughly $3.6 million, at net asset value (~$0.16 per BAL) — a slight premium to current market prices that would retire approximately 35% of circulating supply if fully exercised. The buyback and burn program is aimed at “providing exit liquidity for holders who want out.”

The projected impact, per the proposal, includes reducing Balancer’s annual deficit from ~$2.6 million to ~$700,000, and extending its treasury runway from under four years to roughly nine.

In an extended X post following the proposals, Marcus Hardt, CEO and co-founder of Balancer Labs, framed the moves as a necessary reckoning. “The technology works. Balancer v3 works. Boosted pools work. The infrastructure we built is strong,” he wrote. “What stopped working was the economic model around it.”

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Hardt acknowledged the pain for veBAL holders directly:

“If you locked in good faith, losing those economic rights is painful. That is exactly why the buyback and the compensation campaign are part of the package. The goal is not to trap anyone into a decision.”

November Exploit

The restructuring comes as Balancer tries to find stable footing after a brutal stretch. The protocol was hit by a $128 million exploit in early November, the same week that Stream’s unwind shook broader confidence in DeFi. The proposals acknowledge that the November exploit “removed the option of growing out of” problems with the economic model that had been building for some time.

The exploit triggered months of crisis response, significant TVL loss, and difficult decisions about what the protocol could realistically sustain. The current restructuring proposals are the clearest signal yet of just how much the event reshaped Balancer’s trajectory.

Despite the severity of the changes, Hardt struck a cautiously optimistic tone. “Balancer still has real products. Boosted pools are generating real usage,” he wrote on X. “I believe the protocol still has room to build products and revenue streams that fit Balancer uniquely well.”

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Both proposals are live on the governance forum and open for community discussion ahead of a snapshot vote.

BAL is mostly flat on the news, down less than 1% in the past 24 hours, and over 99% from its 2021 all-time hight.

Labs vs DAO Restructuring

Balancer’s restructuring is the latest in a string of high-profile governance crises forcing DeFi projects to confront whether the Labs-plus-DAO structure — once a standard template for decentralized protocols — is still fit for purpose. At Aave, months of escalating conflict between Aave Labs and the DAO over fee distribution, brand ownership, and token-holder rights eventually pushed Labs to propose routing 100% of product revenue to the DAO treasury — though not before key service provider BGD Labs announced it was leaving amid the fallout.

Meanwhile, cross-chain bridge protocol Across took an even more radical turn, with Risk Labs proposing to dissolve the DAO entirely and convert the project into a U.S. C-corporation, citing friction with institutional partners.

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This article was written with the assistance of AI workflows. All our stories are curated, edited and fact-checked by a human.

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Fira Debuts Fixed-Rate DeFi Lending Protocol with $450M in Deposits

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Fira Debuts Fixed-Rate DeFi Lending Protocol with $450M in Deposits

Ethereum-based decentralized finance (DeFi) lending protocol Fira said on Tuesday it was launching with about $450 million in deposits, highlighting demand for fixed-rate onchain credit.

Fira said the protocol’s fixed-rate credit market allows users to lock borrowing costs and lending returns for defined periods by organizing lending around maturities rather than floating utilization-based rates, according to an announcement shared with Cointelegraph.

The fixed-rate model differs from most DeFi lending protocols, where borrowers cannot lock funding costs, and lenders cannot predict returns, making long-term DeFi lending less predictable. Fira’s said its model organizes markets by maturity and determines interest rates by supply and demand mechanics, replacing utilization algorithms that fluctuate with borrowing activity.

Fira said the design is intended to create a more predictable onchain credit market by introducing yield curves and defined maturities, features that are standard in traditional fixed-income markets but rare in DeFi.

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Fira is not the first DeFi lending protocol built around fixed-rate credit. Other protocols with similar structures include Notional Finance, IPOR and Term Finance.

Fira debuts fixed-rate onchain credit market. Source: Fira

Euler-linked liquidity migrated into Fira

Fira said it debuted with $450 million in deposits, which were “reallocated” from users of the modular lending platform Euler Finance during the pre-launch phase that started on Jan. 8, Pete Siegel, chief financial officer at Fira, told Cointelegraph. 

“Fira was pre-launched in January. It opened with a first market called UZR, which enabled roughly a thousand users who were already on Euler, in a product available on Euler to migrate their assets at a fixed rate.”

Siegel said the deposits reflect user interest in fixed-rate lending products.

DeFi lending protocol rankings by TVL. Source: DeFiLlama

DefiLlama currently shows Fira with about $451.6 million in total value locked on Ethereum, compared with roughly $25.3 billion for Aave, the sector’s largest lending protocol.

Related: Maestro launches mining-backed Bitcoin credit market for institutions

Fira said its smart contracts have undergone six independent security audits conducted by Sherlock, Spearbit via Cantina, Hexens and yAudit between November 2025 and early 2026.

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Fira’s bug bounty program through Sherlock offers up to $500,000 in rewards for users finding critical vulnerabilities in the protocol’s open-source Ethereum-based smart contracts.