Ripple President Monica Long is set to appear at XRP Seoul 2026, adding a major company voice to one of Asia’s key XRP-focused events.

The event will take place on October 3 during Korea Blockchain Week. It will bring together XRP holders, XRP Ledger builders, ecosystem projects, and companies working on blockchain finance.

Monica Long joins XRP Seoul lineup

The XRP Seoul account said it was “honored to welcome” Long to the event. The post described her as a leader across Ripple’s business, product, and engineering teams.

Long has worked at Ripple since 2013. The event page says she has helped build the company into a “one-stop shop to move, manage, hold and tokenize value.”

Her role gives the event added weight for XRP supporters. Ripple remains closely linked to XRP through its holdings, payments work, stablecoin strategy, custody services, and use of XRP Ledger infrastructure.

The appearance also comes as Korea Blockchain Week lists Long among its 2026 speaker lineup. The main KBW conference runs from September 30 to October 1 in Seoul.

Korea remains a major XRP market

South Korea has long been one of XRP’s most active retail markets. In a recent Korea and Japan trading review, XRP trading on Upbit and other Korean platforms stood out during several periods of strong market activity.

In May, XRP’s Korean won pair also led Upbit volumes after Hana Bank moved to buy a large stake in Dunamu, the operator of Upbit. As previously reported, XRP outpaced Bitcoin and Ethereum in 24-hour volume on the exchange at that time.

That trading pattern explains why Seoul is a key place for an XRP event. Korean traders often drive sharp moves in XRP volume during market cycles.

XRP Seoul 2026 says it will focus on XRP Ledger growth, institutional adoption, and real-world use cases. The official event site says it expects more than 3,000 attendees and over 100 companies.

XRPL activity expands in Korea

Ripple’s work in Korea goes beyond token trading. In May, Ripple Custody signed a deal with Kyobo Life Insurance to pilot near real-time settlement of tokenized Korean government bonds.

As previously reported, the pilot uses Ripple Custody to hold, transfer, and settle tokenized bonds. The project also explores stablecoin payment rails through RLUSD.

Local XRPL groups are also supporting developer activity. XRPL Korea lists the Korea Financial Innovation Program 2026 as a three-month path for teams building blockchain-based finance products.

That effort gives XRP Seoul a builder angle, not only a market angle. The event will likely give projects a stage to show how they use XRPL for payments, tokenization, custody, and other financial products.

XRP utility remains under debate

Long’s appearance comes as XRP holders continue to question how Ripple’s business growth connects to the token. Recent coverage has tracked Ripple’s moves toward banking, stablecoins, custody, and deeper ties with traditional finance.

A recent analysis of Ripple’s bank strategy said RLUSD may benefit first from a trust charter and Fed master account path. Another SWIFT strategy report noted that Ripple now appears more focused on working with bank messaging systems than replacing them.

That leaves XRP’s direct role under close review. Some holders want clearer proof that Ripple’s new deals create lasting demand for XRP, not only for Ripple products.

XRP Seoul gives Long a public stage to address that gap. Her comments may help show how Ripple sees XRP, RLUSD, custody, tokenized assets, and Korean market growth fitting into the same plan.

Coinbase CEO Brian Armstrong has responded after Zcash founder Zooko Wilcox criticized the exchange over alleged betting prompts inside the Coinbase app.

The exchange chief defended user choice, but said platforms should treat high-risk products with care when serving less experienced users.

Zooko criticizes betting prompts

Zooko said on X that he had spoken with a young and financially vulnerable Coinbase user. He claimed the app had started prompting that user to bet on sports and the price of Bitcoin.

He said the situation made him “ashamed” to be part of the crypto industry. His post quickly turned into a wider debate about how large crypto apps should promote prediction markets and similar products.

The criticism comes as Coinbase expands beyond spot crypto trading. Recent coverage of Coinbase’s pre-IPO perpetual futures described the firm’s push to combine crypto, stocks, prediction markets and futures inside one account.

That wider product strategy gives users more ways to trade. It also raises questions about how trading apps present risk, especially when products look simple inside a mobile interface.

Armstrong says adults should choose

Armstrong replied that he is “pro-freedom” and believes adults should be able to use their money as they choose, as long as they do not harm others. He also said there is no perfect line between investing and gambling.

The Coinbase CEO added that buying early Bitcoin, Zcash or stocks could also be described as gambling by some people. His point was that risk depends on the product, the user and the context.

Still, Armstrong agreed with part of Zooko’s concern. He said it does not feel right to “aggressively promote high-risk products to unsophisticated users.”

He also said there is a difference between making a product available and making it the main focus of an app. That distinction now sits at the center of the debate.

Prediction markets face regulatory pressure

Coinbase’s sports prediction markets page says the products are offered through Coinbase Financial Markets, a registered futures commission merchant. The page also warns that prediction contracts involve high risk and may lead to the loss of the full investment.

Sports event contracts remain a disputed area in the U.S. In related coverage, Kentucky sued Kalshi, Polymarket and partners tied to Coinbase, Robinhood and Webull, saying the products looked like sports wagering under state law.

The CFTC took the opposite view and argued that Kalshi and Polymarket fall under federal oversight as designated contract markets. The dispute now centers on whether sports contracts belong under federal derivatives rules or state gambling laws.

Former CFTC Chair Gary Gensler also weighed in through a court filing, saying sports prediction contracts do not qualify as swaps under U.S. derivatives law. That filing added another layer to the legal debate.

Coinbase weighs access and safety

Armstrong suggested that Coinbase could use clearer disclosures, AI-based financial literacy tools and more personal app settings. He said users could choose whether to enable or disable certain product groups during onboarding.

That approach would let users decide what they see without removing access for everyone. It would also give Coinbase a way to answer concerns about younger or less experienced users seeing betting-style prompts.

The debate shows how fast crypto apps are changing. Platforms no longer offer only coins and tokens. Many now offer event contracts, derivatives and other products that behave more like financial bets.

For Coinbase, the issue is not only whether users can access these markets. The next question is how strongly the app should promote them and what safeguards should appear before users place trades.

SecondFi says it remains on track to recover user assets after a Cardano wallet exploit drained about $2.4 million in ADA. 

The latest update comes as users wait for a wallet check tool and clear steps to move assets safely.

SecondFi says recovery work remains on track

SecondFi said its recovery process is still moving within the estimated two-week timeline. The team said engineers are working on several technical routes at the same time to choose the safest recovery method for affected users.

The project said it plans to release a tool by early next week that will let users check whether their wallet was affected. It also said it will later share a secure process that lets users move assets out of the platform.

SecondFi warned that no recovery step needing user action has started. It told users to leave wallets untouched until official instructions arrive and said it will never ask for private keys, seed phrases, wallet credentials or asset transfers.

The latest notice followed another warning about rising scam activity. SecondFi said fake accounts and impersonators have been targeting users after the exploit. It also told users not to deposit more funds into existing SecondFi wallets until further notice.

Exploit drained 16 million ADA from 374 addresses

The case began after attackers drained about 16 million ADA from 374 addresses between June 21 and June 23. The value stood near $2.4 million at the time of the reported theft.

SecondFi has linked the issue to its own Cardano wallet generation software. As crypto.news reported, the project said the problem was limited to its native Cardano web wallet generation software and that affected services had been paused.

EMURGO CEO Phillip Pon later said the company had completed a forensic review, checked wallet balances and found what he called a “clear recovery solution.” The company expects one week to build the recovery system and another week to test it before returns begin.

SecondFi also moved about 129 million ADA to an independent third-party custodian as an emergency measure. The company said it took that step to keep more assets away from attackers while it reviewed the breach.

Outside report questions wallet code

A report from Tibane Labs gave a more detailed account of the possible technical fault. The firm said the breach came from an unaudited third-party SDK that replaced EMURGO’s audited signing code on June 8.

Security researcher Taylor Monahan also criticized the wallet code, saying SecondFi “rolled their own crypto.” The comment added pressure on the project because Yoroi, now SecondFi, had served Cardano users for years before the rebrand.

The full cause still needs an official technical report from EMURGO or SecondFi. Until then, users only have public updates, outside analysis and the project’s recovery notices to follow.

Users wait for wallet checker and safe exit steps

SecondFi’s next key step is the wallet check mechanism expected by early next week. That tool should help users know whether they are part of the affected group before any recovery action begins.

The project has asked users to use only official channels and support tickets. That warning matters because wallet hacks often attract fake recovery links, phishing forms and accounts asking for seed phrases.

For now, affected users should not sign new transactions or move assets without official guidance. SecondFi says the recovery depends on the current state of compromised wallets, so early action may create more risk.

The case now tests whether SecondFi can return funds safely while explaining what failed. It also adds fresh concern for Cardano users as ADA trades near multi-year lows and wallet security remains under review.

Base has explained why its mainnet stopped producing blocks twice in two days. 

The Coinbase-backed Ethereum layer-2 network said both outages came from the same bug in its sequencer block-building logic.

The first outage began on June 25 and lasted about 116 minutes. The second began on June 26 and lasted about 20 minutes. Base said funds stayed safe during both incidents.

Sequencer bug stopped block production

In its official postmortem, Base said an invalid transaction failed during execution, as expected. The issue came after that failure, when stale journal state remained inside the block builder.

That stale state included accounts and storage slots touched by the failed transaction. When a valid transaction came next, the system used the wrong journal state and charged gas incorrectly.

This created a block with an invalid state transition. Other nodes could not accept the block, so the chain stopped producing new L2 blocks.

“The integrity of the chain was not compromised and all funds on Base were safe,” Base said.

The team added that block production resumed safely after mitigation.

Transactions queued during the halt

During the outages, users could not get new transactions included onchain. Base said transactions queued in the mempool while the chain waited for block production to recover.

The transaction pool later grew beyond what it could store. As a result, new eth_sendRawTransaction requests returned errors during the outage window.

The halt also affected sequencer and validator progress. Base said these nodes could not move beyond the invalid block until sequencing returned.

As previously reported, Base first flagged unhealthy block production on June 25 before engineers isolated a consensus problem tied to an invalid block.

Patch fixed stale state issue

Base said it fixed the main bug by applying a sequencer patch. The patch ensures journal state updates properly during execution after a failed transaction.

The team also found a second issue during recovery. Base said mitigation took longer because a race condition in the engine reset feature stopped sequencers from catching up after restart.

That second issue helped explain why the incident returned the next day. Base said the problem affected sequencers, not validator nodes, but it still slowed recovery.

The Base status page showed sequencing resumed on June 25. It also told ecosystem node operators to restart Base nodes if they were still stuck.

Testing and recovery changes planned

Base said it will strengthen protocol fuzz testing and load testing. These methods help teams find strange transaction patterns that may expose hidden bugs.

The team also plans better monitoring and operational checks. It said these changes should help engineers detect similar problems earlier and respond faster.

Base also wants to add graceful recovery to base-consensus. That change would make it easier for validator nodes to continue syncing after similar failures.

The outage came during a busy week for the network. Base also moved forward with its Beryl upgrade, which adds the B20 token standard and cuts the standard Base-to-Ethereum withdrawal period from seven days to five days.

The incident gives developers and users a clearer view of the weak point. Base has now named the bug, released a patch, and listed the tests it plans to improve.

Taiko says it is ready to bring its Ethereum layer-2 network back online after a June 21 security breach. 

The project says the attack path is now closed, outside security experts have reviewed the fixes, and users will not lose funds.

The update marks a shift from emergency response to staged recovery. Taiko plans to restore the chain, back the bridge assets, reopen network activity and then unpause bridge operations under limits.

Taiko says attack path is closed

Taiko said the June 21 attack path has been closed after a review by independent security experts. The team said it now has a staged plan to restore the chain while protecting user funds and network stability.

The project said the first step will deploy the fixes and confirm the chain’s finalized state. Taiko also said the review must confirm there are no forged checkpoints or attacker claims still reachable.

The update follows an earlier warning after Taiko confirmed a compromise of its chain-state verification mechanism. As previously reported, the project had urged users to withdraw bridge funds and asked exchanges to pause TAIKO deposits while the team contained the issue.

Blockaid had linked the attack to flawed source-signal proof checks. The security firm said crafted message proofs were accepted on Ethereum without matching valid events on Taiko, allowing unauthorized releases from the ERC20 Vault.

Bridge backing comes before full access

Taiko said the second step will replenish the bridge so every L2 asset is backed 1:1. The team said users will be able to verify the backing on-chain.

This step matters because bridge users rely on the claim that assets on the L2 match assets held or locked elsewhere. If backing becomes weak after an exploit, users may lose trust in wrapped or bridged balances.

Taiko said the Security Council will handle key restart actions. The council will also submit the proposal that unpauses the bridge once the chain finalizes properly and the network remains stable.

The team said it will reopen the bridge with conservative withdrawal quotas. Taiko said it does not expect the limits to stop users from moving assets, but it will use them as an extra safety guard.

Network activity returns in stages

After the fixes and bridge backing steps, Taiko plans to bring network functions back online. Transfers, swaps and trading on L2 will return before the bridge fully opens.

That order gives the team time to watch the chain under normal activity before allowing free movement to and from the bridge. It also lowers the risk of a rushed restart after a security breach.

Taiko said, “No user will lose funds.” The team also warned users that there is no claim site and that the project will never contact users first through direct messages.

That warning targets phishing risks that often follow crypto exploits. Fake recovery links, support accounts and claim pages can lead users into signing harmful transactions or exposing wallet details.

Bridge security remains under pressure

The Taiko breach adds to a series of recent bridge security failures. A Verus Protocol bridge exploit drained more than $11.5 million after attackers used forged cross-chain transfer messages.

Axelar also disabled Secret Network bridge routes after a $4.7 million exploit. Aztec Connect later lost about $2.1 million after an old contract suffered a verification mismatch.

A separate report said cross-chain bridge exploits caused $28.6 million in May losses, or about 42% of the monthly total. That figure shows why bridge proof checks and recovery plans now face close review.

Taiko’s next test is execution. The project must restore activity, prove 1:1 backing, reopen withdrawals safely and keep users away from scam recovery channels.

Grayscale’s research head Zach Pandl says he expects Strategy (the publicly listed corporate Bitcoin holder) will likely have to raise the dividend rate on its flagship “digital credit” preferred stock, STRC, to meet near-term cash obligations. In an X post on Saturday, Pandl also argued that a Bitcoin sale—rather than dividend hikes—could help restore confidence in Strategy’s capital structure.

Still, Pandl’s own base case is unfavorable for investors focused on STRC’s stability: he projected a 50-basis-point increase that would add roughly $100 million in annual obligations over the next two years. The dispute comes as STRC continues trading far below its $100 par reference level, with Strategy’s broader financing choices now under heightened scrutiny.

Key takeaways

• Zach Pandl said he hopes Strategy sells at least $3 billion in Bitcoin to cover most cash obligations over the next two years, but he expects a STRC dividend increase instead.
• Pandl projected a 50-basis-point rise in STRC’s dividend rate, which he said would add about $100 million in annual obligations over two years.
• Strategy’s preferred dividend burden is about $1.2 billion per year, and STRC has recently traded materially below its $100 par value.
• An SEC 8-K filing shows Strategy bought 520 BTC for $34.9 million between June 15 and June 21, while cash reserves increased by $300 million to $1.4 billion.
• CryptoQuant argued Strategy should pause new Bitcoin purchases and focus on rebuilding cash reserves; Samson Mow countered that STRC has a “self-repairing mechanism” once the stock falls.

Dividend pressures collide with STRC’s discount

Pandl, head of research at Grayscale, said Strategy may need to adjust its approach to satisfy cash requirements tied to STRC. In his view, selling Bitcoin could cover most obligations over the next two years and potentially strengthen confidence in the company’s capital structure.

However, Pandl said he expects the opposite outcome. He predicted a 50-basis-point increase to STRC’s dividend rate—an adjustment he estimated would add approximately $100 million in annual obligations over two years. Pandl added that this scenario “probably does not help market confidence,” highlighting a key tension: even if the dividend is supported, the market may still interpret the change as further proof that cash needs are intensifying.

Strategy’s preferred dividend obligation is cited as approximately $1.2 billion annually, driven primarily by STRC. STRC is designed to trade near its $100 par value, but it has been sliding for weeks; on Friday it dropped as low as $71.25, a 28.75% discount to par. Strategy’s common stock, MSTR, also declined over the same period, closing Friday at $82.31, down 26.86% for the trading week.

What the SEC filing and cash math suggest

Strategy remains the largest publicly listed corporate Bitcoin holder, with its Bitcoin and financing activities closely watched by markets. According to Strategy’s latest 8-K filing with the US Securities and Exchange Commission, the company acquired 520 Bitcoin for $34.9 million between June 15 and June 21.

In the same filing, Strategy increased its US dollar reserve by $300 million to $1.4 billion. That figure implies roughly 14 months of dividend coverage, according to the reporting referenced in the article—down sharply from an earlier “seven-year cushion” that investors had previously pointed to as providing insulation.

CryptoQuant argued in a report released this week that Strategy should stop or pause further Bitcoin purchases and instead prioritize rebuilding cash reserves. The report also noted that cash reserves are down 38% in 2026, framing the current posture as increasingly stretched.

Strategy, for its part, said on Monday that it plans to continue replenishing its cash reserves to support the credit quality of its “digital credit” securities, suggesting the company views reserve maintenance as central to its financing strategy.

Calls to sell Bitcoin vs. “self-repairing” stock mechanics

CryptoQuant further suggested that Strategy does not have a direct obligation to sell Bitcoin to defend STRC’s market price. The analytics firm pointed to alternatives such as raising the dividend yield—an approach that could attract incremental demand while spreading the cash burden through a higher return on STRC for new buyers.

Samson Mow, a prominent Bitcoin advocate, took the opposite tack in an X post on Monday, arguing that STRC has a built-in “self-repairing mechanism.” His thesis is tied to Strategy’s financing behavior: once STRC trades below its $100 reference price, Strategy would halt new ATM (at-the-market) issuance, limiting the supply of new shares. In parallel, a lower stock price mechanically increases the yield for buyers relative to what they pay, which Mow said could draw in fresh demand and gradually pull the price back toward par.

Taken together, the debate frames a broader question for STRC investors: is the market discount primarily a cash-coverage issue that must be resolved with reserve rebuilding or asset sales, or is it a pricing mechanism that can correct without selling Bitcoin? The answer matters because dividend adjustments and cash actions affect not only yield, but also how markets interpret the credit durability of Strategy’s digital credit structure.

Why this dispute matters for investors right now

With STRC trading well below par and Strategy’s dividend burden running at roughly $1.2 billion per year, investor attention is shifting from long-term Bitcoin accumulation narratives to short- and medium-term capital structure credibility. Pandl’s comment that a dividend hike may not restore market confidence underscores why the market reaction to cash actions could be as important as the actions themselves.

Meanwhile, the SEC filing confirms Strategy is still buying Bitcoin while cash reserves are being replenished—an approach that may reassure some investors focused on the company’s operating plans, but also fuels skepticism from analysts who argue that cash reserve strength is slipping.

Readers should watch what Strategy does next with its reserve strategy and whether STRC’s discount narrows or widens alongside any dividend policy expectations. The key uncertainty is whether the company will lean more heavily on cash rebuilding and yield adjustments—or accelerate Bitcoin sales—before the next coverage milestone tightens further.

Zach Pandl, head of research at Grayscale, said he hopes Strategy will sell at least $3 billion in Bitcoin to cover most of the company’s cash obligations for the next two years.

In a Saturday X post, Pandl argued that the move may restore market confidence in the company’s capital structure.

Contrary to his hopes, Pandl said he expects a 50-basis-point increase to the dividend rate on Strategy’s preferred stock, STRC, adding roughly $100 million in annual obligations over two years. Pandl added that this scenario “probably does not help market confidence.”

Strategy faces an annual preferred dividend obligation of approximately $1.2 billion, driven primarily by STRC.

STRC is Strategy’s flagship “digital credit” preferred stock designed to trade near its $100 par value, but has been sliding for weeks. On Friday, it fell to as low as $71.25, a 28.75% discount to par. Strategy’s common stock MSTR fared little better and closed Friday at $82.31, down 26.86% throughout the trading week.

Pandl said he expects Strategy to raise STRC’s dividend rate but hopes the company sells Bitcoin instead. Source: Zach Pandl

Strategy’s cash reserve under pressure

Strategy is the world’s largest publicly-listed corporate Bitcoin holder, placing its 847,363 BTC stash and financing decisions under the industry’s microscope. 

According to Strategy’s latest 8-K filing with the US Securities and Exchange Commission, it acquired 520 Bitcoin for $34.9 million between June 15 and June 21.

Blockchain analytics company CryptoQuant argued in a Tuesday report that Strategy should pause Bitcoin purchases and focus on replenishing its cash reserve, which is down 38% in 2026.

Related: Bitcoin doesn’t need Ethereum-style yield, says Strategy’s Michael Saylor

The 8-K filing also revealed that Strategy increased its US dollar reserve by $300 million to $1.4 billion. This leaves the company with roughly 14 months of dividend coverage, down sharply from what was once a seven-year cushion.

Strategy said on Monday that it plans to continue replenishing its cash reserves to support the credit quality of its “digital credit” securities.

Alternatives to a Bitcoin sale

CryptoQuant added that the company has no obligation to sell Bitcoin to support STRC’s price, because it can deploy other methods to defend its stock, such as raising the current 11.5% dividend yield.

Bitcoin advocate Samson Mow argued in a Monday X post that STRC has a built-in “self-repairing mechanism.” Once the stock falls below its $100 reference price, Strategy halts new ATM issuance, cutting off the supply of fresh shares.

At the same time, a lower price mechanically boosts the yield for new buyers relative to what they paid, which Mow said should draw in fresh demand and pull the price back toward par over time.

Source: Samson Mow

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Key Takeaways

• HYPE is currently valued near $62 with a multi-billion dollar market capitalization
• Baseline scenario projects $100–$160, valuing HYPE as a decentralized exchange token
• Optimistic scenario envisions $250–$400 if Hyperliquid dominates on-chain derivatives trading
• Pessimistic scenario suggests $20–$35 amid competitive pressures, security incidents, and token dilution
• Weighted probability analysis points to approximately $145 by the year 2031

Hyperliquid stands out in a crowded cryptocurrency landscape by delivering tangible results. Unlike countless projects built purely on speculation, Hyperliquid has secured more than 40% of the decentralized perpetual futures market by mid-2026. This represents genuine market dominance backed by data.

Currently trading near $62, HYPE’s valuation fundamentally depends on transaction volume, fee generation, and platform liquidity rather than empty promises.

The protocol handled transaction volumes in the hundreds of billions throughout the first quarter of 2026, with daily figures consistently reaching into the billions. These metrics mirror those of established centralized exchanges.

This performance explains why market observers increasingly compare HYPE’s valuation framework to traditional exchange tokens rather than standard Layer 1 blockchain assets.

Baseline Projection: $100 to $160 Range

The baseline forecast assumes Hyperliquid maintains its leadership position within decentralized perpetuals throughout the coming half-decade.

This scenario requires continued migration of traders toward on-chain platforms, sustained growth in cryptocurrency derivatives markets, and Hyperliquid’s ability to defend its market share. A valuation range of $100 to $160 would translate to a fully diluted market cap between $100 billion and $160 billion, calculated against the maximum token supply of 1 billion HYPE.

While ambitious, these valuations become reasonable if Hyperliquid evolves into essential infrastructure for cryptocurrency trading.

Reuters coverage indicates that cryptocurrency exchanges are positioning themselves for expanded U.S. perpetual futures offerings as regulatory frameworks crystallize. This regulatory shift could significantly expand Hyperliquid’s addressable market.

Optimistic and Pessimistic Scenarios

The optimistic projection places HYPE between $250 and $400. Achieving this requires Hyperliquid to dominate decentralized derivatives, successfully launch spot trading markets, attract significant institutional capital, and transform into a comprehensive on-chain financial infrastructure.

This scenario demands multiple favorable outcomes aligning simultaneously.

The pessimistic forecast settles between $20 and $35. Trading platform markets are intensely competitive. Centralized exchanges, dYdX, GMX, Solana ecosystem protocols, and emerging perpetual DEXs all compete for identical liquidity pools.

Security vulnerabilities represent substantial threats. The Financial Times documented a $280 million security breach at Drift, a rival decentralized derivatives platform. Such incidents can undermine confidence across the entire sector.

Token supply expansion creates additional downward pressure. The current circulating supply represents only a fraction of the 1 billion maximum HYPE tokens. Future unlock events occurring during periods of weak demand could significantly depress prices.

The probability-adjusted five-year projection estimates approximately $145 by 2031.

Hyperliquid commands over 40% of decentralized perpetual futures volume as of mid-2026, with daily trading consistently reaching billions of dollars.