OpenAI has introduced GPT-5.6 models named Sol, Terra, and Luna, prompting comparisons with some of the crypto industry’s best-known blockchain projects.

According to OpenAI, the company has begun a limited preview of three GPT-5.6 models called Sol, Terra, and Luna.

The announcement quickly drew attention across crypto-focused social media because the names closely resemble Solana’s SOL token and the Terra ecosystem, whose LUNA token became synonymous with one of the industry’s largest collapses in 2022.

The model names have revived memories of major crypto projects

In its blog post, OpenAI described Sol as its flagship GPT-5.6 model, while Terra is designed as a balanced option for everyday tasks. Luna, according to the company, serves as the fast, lower-cost entry point within the new lineup.

OpenAI said the three models are positioned between its high-end GPT-5.5 offering and more affordable options. Sol also introduces new “max” and “ultra” modes for advanced reasoning and agent-based workflows. The company added that the GPT-5.6 family delivers stronger coding, scientific research, and cybersecurity capabilities than earlier models.

Although the names immediately caught the attention of crypto users, OpenAI did not associate them with digital assets. Instead, the company said the names represent different capability levels within the GPT-5.6 series.

Even so, the similarities proved difficult for crypto traders to ignore. Sol shares its name with the ticker used by Solana’s native token, while Terra and Luna revive the branding of the Terra blockchain ecosystem, which collapsed in 2022 after the failure of its algorithmic stablecoin erased tens of billions of dollars in market value.

The release comes only days after OpenAI introduced Jalapeño, its first custom-built artificial intelligence chip developed with Broadcom. According to OpenAI, the processor was built in nine months and is designed for inference workloads powering products such as ChatGPT, Codex, and future AI agents.

The company said developing its own hardware will give it more flexibility as demand for AI computing continues to increase.

Rollout remains limited while safety testing continues

Rather than making GPT-5.6 immediately available to everyone, OpenAI said the launch is a limited preview as additional safety testing continues before a broader public release. The company also noted that Sol’s new reasoning modes are intended for more complex tasks that require extended processing.

The preview follows reports that the White House had asked OpenAI to limit the initial rollout of GPT-5.6. While the company acknowledged the limited release, it did not link that decision to any government request in its announcement.

Separately, Amazon withdrew from distributing Artificial, a film centered on OpenAI chief executive Sam Altman that also features Elon Musk, while continuing discussions with the filmmakers about finding another distributor. The decision came as Amazon expanded its commercial relationship with OpenAI through a multi-billion-dollar investment commitment tied to future milestones.

For crypto markets, however, it was the naming of Sol, Terra, and Luna that generated the strongest reaction online, reviving discussion around two of the industry’s most recognizable blockchain brands despite OpenAI stating that the names were selected solely to distinguish the capabilities of its latest AI models.

TLDR:

• Chainlink’s Build program supported over 80 projects, distributing roughly $20M in project tokens to LINK stakers.
• New commercial agreements will require fees in LINK or liquid assets, which are then converted directly into LINK.
• Proceeds from new Build agreements will be programmatically converted to LINK and directed to the Chainlink Reserve.
• The final Chainlink Rewards season closes claims on July 7, 2026, marking the end of Build-related token rewards.

Chainlink is restructuring its Build program by moving away from early and mid-stage project token rewards toward commercial agreements paid in LINK.

The transition marks a strategic pivot aimed at supporting sustainable network economics. Proceeds from new agreements will be programmatically converted to LINK and directed to programs like the Chainlink Reserve. Claims for the most recent Rewards season end on July 7, 2026.

Build Program Concludes Token-Based Reward Structure

The Chainlink Build program has supported over 80 projects since its launch. Teams received technical support, strategic guidance, ecosystem connections, and market visibility through the program.

Approximately $20 million worth of Build project tokens were made available to eligible LINK stakers through Chainlink Rewards.

Broader market conditions and shifting project funding models prompted this structural change. Chainlink Labs periodically reviews its programs to ensure resources drive the greatest long-term network growth. The token-based reward model no longer aligned with those goals under current market conditions.

Chainlink Labs confirmed the pivot in an official statement, noting that the ecosystem is “continually evolving how it supports the growth of early and mid-stage projects.”

The organization acknowledged that as market conditions shifted, the Build program’s structure had to adapt accordingly. Existing arrangements under the program are now being concluded.

New commercial agreements are being established on a case-by-case basis for historically participating projects. The transition away from project tokens reflects a more liquid and conversion-ready payment approach. The most recent Rewards season marks the final distribution of Build-related token rewards.

LINK Conversion Model to Power Chainlink Reserve and Ecosystem Growth

Eligible participants must complete their claims before July 7, 2026, when the claims window closes permanently. Product and engineering resources previously supporting Rewards will shift to higher-priority economic initiatives. Those resources will instead benefit the broader Chainlink community going forward.

New commercial agreements will require fees paid in LINK or other liquid assets that can be readily converted. Chainlink stated that proceeds from these agreements are expected to be “programmatically converted to LINK” and used to support network growth. The Chainlink Reserve is among the programs set to benefit from this funding flow.

This model creates a more direct economic feedback loop between ecosystem activity and LINK utility. Rather than holding early-stage tokens of uncertain liquidity, the network gains direct LINK exposure. That shift strengthens the long-term sustainability of Chainlink’s economic structure.

Future ecosystem growth programs will focus on engaging with strategically aligned projects rather than broad early-stage support.

Chainlink Labs stated it will continue “working with projects in refining how growth programs support early-stage builders.” The Build program’s evolution reflects the broader maturation of Chainlink’s network economics.

Bitcoin (BTC) struggled to reclaim $60,000 on Friday amid continued global market volatility.

Key points:

• Bitcoin closes below $60,000 on daily time frames for the first time since September 2024.
• Asian stock markets see another day of major losses on tech-stock concerns.
• BTC price analysis hopes for a reclaim of the 200-week trend line as the bull case.

Bitcoin risks $60,000 resistance flip as tech selling persists

Data from TradingView showed that prior support was increasingly becoming the bulls’ new hurdle after Bitcoin’s first sub-$60,000 daily close since September 2024.

BTC/USD one-hour chart. Source: Cointelegraph/TradingView

Asia stock markets saw more downside on the day, with South Korean circuit-breakers kicking in on a new 8% crash.

Like on Tuesday, US stocks managed to avoid contagion, with the S&P 500 and the Dow Jones in the green at the time of writing.

S&P 500 one-day chart. Source: Cointelegraph/TradingView

Surrounding the weakness, tech-stock performance remained a popular talking point. Earlier, Micron Technologies boosted the mood with stronger-than-expected earnings data.

Trading resource The Kobeissi Letter suggested that a broader bullish turnaround could already be due.

“Most people do not realize how many tech giants are already deep bear market territory,” it wrote in a post on X.

Kobeissi noted that many major tech companies were already down more than 50% versus their all-time highs, with crypto exchange Coinbase leading at -69%.

“The S&P 500 won’t tell you this,” it added.

Coinbase stock one-week chart. Source: Cointelegraph/TradingView

In its latest analysis, trading company QCP Capital stressed the influence of US inflation trends on risk assets going forward. 

As Cointelegraph reported, the May print of the Personal Consumption Expenditures (PCE) index, known as the Federal Reserve’s “preferred” inflation gauge, recorded its highest year-on-year increase since mid-2023. 

“Core PCE is nowcast at 3.30%, while headline PCE is nowcast at 3.82%, both still above target,” QCP wrote. 

“The Fed’s 2026 inflation forecast has also moved up to 3.6%, from 2.7%, reinforcing the view that inflation, rather than growth, remains the binding constraint.”

US PCE Index one-month % change (screenshot). Source: Bureau of Economic Analysis

BTC price 200-week trend line reclaim in focus

Looking at the short term, crypto trader and analyst Michaël Van de Poppe asked whether BTC price action would continue its downward trend.

Related: BTC price four-year trend calls for $76K as analysis says Bitcoin ‘not broken’

“It’s an interesting day for Bitcoin,” he told X followers, noting the upcoming quarterly options expiry event.

Van de Poppe drew attention to the performance of Strategy, the company with the world’s largest Bitcoin treasury, and its Bitcoin funding vehicle, Stretch (STRC).

“In all honesty, the fact that STRC has seen a relatively big drop yesterday and Bitcoin essentially stalled at $60,000 is not a weak signal. Other than that, there’s a bullish divergence on the daily timeframe, which is still far from confirmed,” he continued.

“It can signal that we’re bouncing back upwards, and, yes, the markets need to bounce back upwards in order to close above the 200-Week MA.”

BTC/USD one-day chart with 200-week SMA. Source: Cointelegraph/TradingView

The trend line in question, the 200-week simple moving average (SMA), stood at $62,243 at the time of writing.

A group of 17 Democratic US senators is pressing leadership in a key committee to address the Commodity Futures Trading Commission (CFTC) using federal funds in lawsuits against state-level authorities cracking down on prediction markets.

In a Wednesday letter to the chair and ranking member of the Senate Appropriations Subcommittee on Financial Services and General Government, Senator Richard Blumenthal, Senator Jeff Merkley and 15 other Democrats urged the committee leadership to block the CFTC from using federal funds in Chair Michael Selig’s legal fights against state gaming authorities. Selig has defended the agency’s position that the CFTC has “exclusive jurisdiction” over prediction markets by claiming that the event contracts on the platforms qualify as “swaps” under its purview.

“Through engaging in this campaign of litigation and intimidation, the CFTC risks becoming an instrument and enabler of online prediction markets’ efforts to bypass states’ consumer protections and oversight, creating a race-to-the-bottom in gambling,” said the senators.

Source: Senator Richard Blumenthal

The CFTC has engaged in legal fights involving prediction markets in Connecticut, Illinois, Arizona, Kentucky, Wisconsin, New York, Minnesota, Rhode Island and New Mexico as of June. Some of the companies involved, including Kalshi and Polymarket, have filed their own lawsuits against state authorities, backing the CFTC’s position.

Related: 21shares trims 2026 crypto forecasts despite institutional adoption gains

The ongoing legal battles have led some experts to expect that one of the cases involving the CFTC and state gaming regulators could ultimately reach the US Supreme Court. In its 2018 ruling in Murphy v. National Collegiate Athletic Association, the Court held that individual states have the authority to regulate sports betting. If the justices grant a writ of certiorari in one of the current cases, they could revisit questions about the scope of that authority.

Selig steers CFTC alone amid broader debate over the agency’s authority

As the sole commissioner and chair of the CFTC, Selig has unilaterally led the agency’s policy agenda under US President Donald Trump, vowing to go after state authorities that crack down on prediction markets. While the CFTC’s leadership is expected to consist of a bipartisan group of five commissioners, Trump has not announced any intention of filling the seats as of Friday.

Selig’s actions come as the US Senate is expected to soon vote on the Digital Asset Market Clarity (CLARITY) Act, which would establish separate regulatory roles for the CFTC and Securities and Exchange Commission over digital assets. Last week, gaming organizations petitioned the Senate to add language barring sports event contracts in the CLARITY Act, arguing that the CFTC wasn’t created to regulate such wagers.

Magazine: Bitcoin slides to $58K, XRP hits $1 but onchain data promising: Market Moves

Bitcoin BTC$59,899.01 found some footing around $60,000 on Friday after this week’s selloff, but the biggest gains came from decentralized finance (DeFi) and the Solana ecosystem.

Leading the advance was the native token of Aave AAVE$93.36, the largest DeFi lending protocol, which jumped 19% over the past 24 hours. CoinDesk reported Thursday that crypto exchange Kraken is exploring a strategic investment tied to the lending protocol, acquiring a 15% stake at a $385 million valuation.

Aave founder Stani Kulechov pushed back in an X post against the suggestion that Aave assets could be sold at a steep discount. He reiterated that all protocol revenue — currently running at an annualized $134 million, he said. — flows to the Aave DAO and ultimately benefits AAVE token holders under the protocol’s recently adopted “Aave Will Win” framework.

Kulechov also teased “Aavenomics 3.0,” an upcoming overhaul for the token’s design that will introduce an automated buyback mechanism.

Solana activity boosted by tokenized stocks

Solana (SOL), the layer-1 blockchain known for its fast speed, and its ecosystem also outperformed, with SOL climbing nearly 10% on Friday.

TLDR:

• Adam Livingston’s MSTR stress test models a 55% BTC crash to $26,611 with capital markets fully closed.
• CEBE collapses from 138,161 sats per share to just 7,884 sats as senior claims balloon to 819,073 BTC.
• Cash runs dry by month nine, forcing Strategy to sell 115,727 BTC to service its senior debt stack.
• MSTR survives with 731,636 BTC remaining and mNAV recovering to 1.40x at the end of year three.

A three-year MSTR stress test by analyst Adam Livingston has found that Strategy can survive a 55% Bitcoin crash without entering a death spiral.

The model assumes BTC falls to $26,611 by month six, capital markets close entirely, and the company is forced to sell Bitcoin to service senior debt.

While survival is the conclusion, common shareholders face a brutal compression in Bitcoin exposure per share over the modeled period.

Senior Claims Balloon as Bitcoin Collapses, Crushing CEBE

The MSTR stress test starts with the company holding 847,363 BTC, carrying $1.4 billion in cash, a CEBE of 138,161 satoshis per share, and a claim ratio of 41.5%.

From that position, Livingston’s model drives Bitcoin down to $26,611 within the first six months, triggering a chain reaction across the balance sheet.

The mechanics work against common shareholders quickly. Fixed-dollar senior claims explode in Bitcoin terms as collateral prices fall, rising from 351,567 BTC to 819,073 BTC. That expansion in senior claims directly compresses what is left for common equity holders.

The claim ratio spikes from 41.5% to 96.7%, while common equity BTC collapses from 495,796 BTC to 28,290 BTC. CEBE, the metric tracking Bitcoin exposure per common share after senior obligations, falls from 138,161 satoshis to just 7,884 satoshis. The modeled MSTR share price reaches $1.01.

Livingston noted the stock may not actually trade that low in a real downturn. He referenced 2022, when MSTR carried negative common equity sats exposure exceeding 14,000 sats per share yet the stock never dropped below $10. Still, the model captures the structural damage rather than the market sentiment.

The core takeaway from this phase of the MSTR stress test is that fixed-dollar debt behaves like inverse leverage during a Bitcoin price decline.

As BTC falls, senior claims consume an increasingly large share of the total Bitcoin stack in BTC-equivalent terms, leaving common shareholders holding a fraction of what they started with.

Forced BTC Sales Begin at Month Nine but Leave 731,636 BTC Intact

The model applies strict assumptions throughout: no new Bitcoin purchases, no common equity issuance, and monthly obligations fixed at $167.7 million.

Under those conditions, cash reserves are exhausted by month nine, and Strategy must begin selling Bitcoin to meet senior debt payments.

Over the full three-year period, the model requires MSTR to sell 115,727 BTC to continue servicing the senior stack. That represents a material reduction from the starting position of 847,363 BTC, though the company is not forced to liquidate its holdings entirely.

The terminal state of the MSTR stress test reflects a company that has absorbed severe damage but remains operational.

The model ends with Bitcoin at $48,498, MSTR at $51.86, mNAV at 1.40x, common equity BTC at 274,093, CEBE at 76,380 sats per share, and a claim ratio of 62.5%. Strategy still holds 731,636 BTC at the close of the three-year window.

Livingston identified the primary risk as CEBE compression rather than instant bankruptcy, arguing that narratives around a sudden death spiral overstate the danger given Strategy’s retained Bitcoin position even after forced sales.

The MSTR stress test draws a firm line between two separate risks. Near-term structural collapse is not the scenario the model produces.

What it does produce is an extended period of pain for common shareholders, with CEBE absorbing the largest losses as senior claims expand in BTC terms during the crash before recovering once Bitcoin stabilizes above the debt floor.

An API connects your app to the crypto market. It pulls prices, balances, and onchain data on demand. You skip running your own infrastructure. The provider does the heavy lifting instead.

The crypto API market is crowded in 2026. Providers solve very different problems. Some serve market and wallet data. Others handle swaps or raw node access. The right choice starts with the job, not the brand.

This guide covers five providers worth knowing. CoinStats API leads on data. ChangeHero and StealthEX handle swaps. GetBlock powers the node layer. Messari adds research and intelligence. Together they cover most builds.

Know the Layers Before You Choose

Crypto APIs split into a few core layers. Knowing them makes the choice simpler.

Data APIs return prices, balances, and DeFi positions. The best ones enrich raw data into ready-to-use portfolios.

Swap APIs move assets inside your product. They embed non-custodial exchanges without accounts.

Node APIs give raw access to a blockchain. You read chain state and broadcast transactions.

Research APIs surface analysis, signals, and token unlocks. They add narrative context beyond raw prices.

Most production apps combine layers. Match each provider to one job.

1. CoinStats API (Best Overall)

One API for Markets, Wallets, and DeFi Across 120+ Chains

CoinStats API is a unified crypto data layer for developers. It combines market data, wallet data, DeFi positions, and portfolio analytics. Token security screening sits in the same schema. Coverage spans 100,000+ coins, 200+ exchanges, and 120+ blockchains.

Wallet endpoints return balances and transactions across Solana, Ethereum, EVM chains, and Bitcoin. Bitcoin support includes extended public keys (xpub, ypub, zpub). DeFi positions auto-resolve per wallet across 10,000+ protocols. That covers staking, lending, and liquidity tied to an address.

CoinStats also ships an MCP Server for AI agents. It exposes wallet, DeFi, and portfolio data to LLMs. Agents in Claude, Cursor, and VS Code query it directly. That portfolio data layer is the real differentiator.

Pros

• Unified multi-chain data across 120+ blockchains
• Enriched responses with market data built in
• Per-wallet DeFi detection across 10,000+ protocols
• Native MCP Server for AI and LLM workflows
• Token security screening in the same API
• Free tier and credit-based pricing
• One API key, simple authentication

Cons

• Not a node provider: read-only, no transaction submission
• REST-first: no streaming for live event data

Best Use Cases

• Multi-chain portfolio trackers
• DeFi dashboards across staking, lending, and LP
• Crypto tax and accounting tools
• AI assistants that query data through MCP
• Wallet explorers and embedded widgets

Pricing

Pricing is credit-based with a free tier at signup. Paid plans start at $49 per month. Credits scale with endpoint complexity. A full breakdown sits in this best crypto API guide.

Best suited for: most data-driven builds, from portfolio trackers to AI agents.

Limitation: CoinStats API is a data layer, not a node provider. To broadcast transactions, pair it with infrastructure like GetBlock.

2. ChangeHero

Non-Custodial Swaps With a Long Partner Record

ChangeHero is a non-custodial swap API running since 2017. Hardware and software wallets integrate its swap engine. Partners include Trezor, Exodus, Tangem, and OneKey.

The API covers 350+ cryptocurrencies. Fixed and floating rates run through separate endpoints. Liquidity aggregates from multiple venues for resilience. If one source drops, swaps keep running. Settlement usually lands under 10 minutes.

For automated systems, ChangeHero handles the conversion step. A rebalancing bot can rotate holdings without exchange accounts. Treasury scripts can convert revenue on a schedule. Custom setups add optimized routing and zero-fee stablecoin pairs.

Integration is free with no volume minimums. Partners earn a configurable commission per swap.

Best suited for: swap automation, wallet integrations, and treasury flows.

Limitation: ChangeHero is not a data provider. Pair it with a market data source like CoinStats API.

3. StealthEX

Privacy-First Swaps Without Accounts

StealthEX is a privacy-focused, non-custodial instant exchange API. End users swap without ever creating an account. Standard swap volumes require no mandatory KYC. Risk-based screening applies only to flagged transactions.

Coverage spans 2,000+ coins and 100+ fiat currencies. A REST API supports fixed and floating rates. Floating rates match market price at execution. Fixed rates lock the receive amount in advance. Settlement usually takes 5 to 30 minutes.

The commercial model suits bot builders. Integration is free with no monthly commitments. Partners set a commission between 0 and 0.5 percent. Revenue share applies to routed volume. StealthEX also publishes a free crypto API comparison for budgeting.

Best suited for: Telegram bots, wallets, and DEX aggregators.

Limitation: StealthEX offers no market data or analytics. Pair it with a data source.

4. GetBlock

Node Infrastructure for Onchain Builders

GetBlock covers the node infrastructure layer. It provides RPC access to 130+ blockchains. Interfaces include JSON-RPC, REST, GraphQL, WebSocket, and gRPC. Shared nodes suit prototypes and smaller bots. Dedicated nodes target high-throughput, latency-sensitive workloads.

Onchain bots need this layer for direct access. Mempool reads, contract calls, and broadcasts all run here. Geo-distributed clusters run in Frankfurt, New York, and Singapore. Independent benchmarks rank its Solana RPC among Europe’s fastest.

Pricing stays predictable for bot workloads. Every call deducts one request, regardless of method. A free tier covers a daily request allowance. A dedicated MCP server connects the RPC layer to AI agents. GetBlock returns raw chain data, not parsed portfolios. Most teams pair it with a data API upstream. GetBlock also maintains a guide to crypto API providers for developers.

Best suited for: onchain bots, mempool monitors, and custom indexers.

Limitation: GetBlock offers no aggregated market data or wallet analytics.

5. Messari

Research and Intelligence for Deeper Context

Messari is a crypto research and intelligence platform. It layers curated analysis on top of market data. Coverage reaches 40,000+ assets across 200+ exchanges.

The data extends into news, signals, fundraising, and token unlocks. Protocol research and narrative context sit alongside pricing. Messari also ships an MCP server for AI assistants.

The free tier is rate-limited at around 20 requests per minute. Most depth sits behind enterprise pricing.

Best suited for: research-driven teams and intelligence-heavy agent workflows.

Limitation: Messari is not a wallet or portfolio API. Pair it with a data layer like CoinStats API.

Side-by-Side Comparison

What You Can Build

Portfolio trackers and wallet apps. CoinStats API returns holdings, prices, and DeFi positions in one call.

Rebalancing and treasury bots. Swap APIs rotate assets without exchange accounts.

Privacy-minded swap flows. StealthEX embeds swaps without user accounts.

Onchain bots and indexers. GetBlock supplies mempool reads and broadcasts.

AI financial assistants. CoinStats MCP Server feeds portfolio data to agents.

Research and due-diligence tools. Messari surfaces fundraising, token unlocks, and protocol analysis.

One Provider or Several?

Many production teams do not rely on a single API. They layer providers by job.

Start with CoinStats API for data, portfolio, and DeFi across chains. Add a swap rail like ChangeHero or StealthEX when your app moves assets. Add GetBlock when you need raw chain access or transaction broadcasts. Layer in Messari when you need research and narrative context. Combine them as the product grows. Each layer handles what it does best.

Wrapping Up

There is no single best crypto API. There is only the best fit for the job. CoinStats API is the broadest starting point for data. It suits most crypto use cases.

ChangeHero and StealthEX own the swap lane. GetBlock owns the node layer. Messari adds research depth. Every provider here offers a free tier. You can start building in minutes.

This week, crypto analytics company CryptoQuant challenged the prevailing narrative around Michael Saylor’s Strategy, urging the company to pause Bitcoin purchases and rebuild its cash reserves. The warning came after its dividend coverage fell to just 14 months from roughly seven years.

Strategy isn’t facing an immediate cash crunch, but CryptoQuant’s warning puts the spotlight on the financing structure behind its Bitcoin strategy. With cash reserves shrinking and dividend obligations increasing, Strategy’s ability to keep funding new purchases is drawing closer scrutiny.

The rest of this week’s Crypto Biz shows how the industry is evolving. CBOE is eyeing perpetual Bitcoin and Ether futures, Chainlink is working with European and Korean banks on stablecoin-based FX settlement and Zcash miner Fortitude is heading to Nasdaq through an unlikely merger with a healthcare company.

CryptoQuant urges Strategy to pause Bitcoin buying as dividend coverage drops to 14 months

Earlier this week, CryptoQuant argued that Strategy’s aggressive Bitcoin accumulation has become increasingly difficult to sustain, urging the company to rebuild its cash reserves after dividend coverage fell to just 14 months from roughly seven years.

CEO Ki Young Ju said the Strategy’s cash position has deteriorated as annual dividend obligations surged to $1.2 billion following large issuances of STRC preferred shares carrying an 11.5% yield. While Strategy’s cash reserve recovered to about $1.4 billion after recent MSTR share sales, it remains down 38% year-to-date after the company repurchased $1.5 billion of its 2029 senior notes.

The warning comes as Strategy’s funding model faces additional pressure. STRC preferred shares recently fell as much as 17.5% below their $100 par value, limiting the company’s ability to raise fresh capital through additional preferred stock sales. 

Strategy’s cash reserve and dividend coverage. Source: CryptoQuant

CBOE considers converting Bitcoin and Ether futures into perpetual contracts

The Chicago Board Options Exchange (CBOE) is weighing a plan to convert its continuous Bitcoin and Ether futures into perpetual futures, according to a Wall Street Journal report.

The potential move follows recent regulatory changes after the US Commodity Futures Trading Commission approved crypto perpetual futures for Kalshi and outlined a framework for other registered exchanges to offer similar products.

CBOE launched its continuous Bitcoin and Ether futures last December, with contracts extending as far as 10 years. Unlike traditional futures, perpetual contracts have no expiration date, allowing traders to maintain leveraged positions indefinitely. They were first popularized by crypto derivatives platform BitMEX and have since gained traction across both centralized and decentralized markets. 

Perp volumes have surged across DeFi exchanges. Source: DeFiLlama

Zcash miner Fortitude to go public through Nasdaq merger with HeartSciences

Zcash miner Fortitude Mining Holdings is set to go public through an all-stock merger with medical technology company HeartSciences, bringing together two businesses from entirely different industries.

The merger will allow Fortitude to secure a Nasdaq listing without pursuing a traditional initial public offering, while HeartSciences’ existing shareholders will retain a minority stake in the combined company. Following the transaction, the combined company will operate under the Fortitude name and is expected to trade on Nasdaq under the ticker TUDE, subject to regulatory approval.

The announcement sent HeartSciences shares up as much as 91% on Tuesday. Before the merger, the healthcare company remained unprofitable, reporting an $8.77 million net loss in fiscal 2025 despite advancing its product roadmap.

HeartSciences stock. Source: Yahoo Finance

Chainlink joins European and Korean banking groups to explore stablecoin FX settlement

Chainlink has joined a cross-border banking initiative with European and South Korean financial institutions to study whether regulated euro and won stablecoins can enable real-time foreign exchange settlement.

Dubbed Project Pangea, the working group brings together South Korean digital asset infrastructure company FairSquareLab, the Unified Korea Alliance (UniKA), Qivalis and Chainlink to evaluate atomic swaps using blockchain-based settlement infrastructure.

Rather than launching a live payment network, Project Pangea will explore how tokenized currencies could improve wholesale financial markets, where the global foreign exchange market handles an estimated $9.6 trillion in daily trading volume. The initiative reflects growing interest among banks in using stablecoins and tokenized deposits to modernize cross-border settlement, reduce friction and improve efficiency.

In a bullish scenario, the stablecoin market could reach $4 trillion by 2030. Source: Citigroup

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