Crypto World
Pi Network’s PI Hits New ATL After 11% Crash as 130M Token Unlock Looms
The cryptocurrency market has dipped once again over the past several hours, but Pi Network’s native token has taken this minor correction a lot worse, with a fresh dump to a new all-time low.
Moreover, nearly 130 million coins are scheduled to be unlocked in the following months, which could further worsen PI’s state.
Low After Low
It’s almost impossible to imagine now, but PI traded at $0.30 in March after its major listing on Kraken. The subsequent rejection, though, pushed it south to $0.20, where it managed to stand there for a while. Although that key support was breached briefly, the token challenged it in late April, only to be halted again.
The following few months have brought nothing but pain for the PI token holders. As the chart below will clearly demonstrate, the asset has been on a violent free-fall that has taken it to several consecutive all-time lows. The latest arrived earlier today when PI decisively lost the $0.10 support and even the $0.09 floor.
Another double-digit price dump pushed it south to $0.086, which became its new all-time low. PI is down by over 22% weekly, and a whopping 97.1% since its all-time high in February 2025.
What’s even more worrisome for investors is the fact that over 127 million coins are set to be unlocked in the next 30 days, according to data from PiScan. Such large token releases could increase the immediate selling pressure from investors who had been waiting for their coins for a long time. This is particularly true in bear markets when the distress is higher than usual.
Can New Updates and Products Help?
Although the recent price picture looks more than grim, the team behind the project has not stood still. They continue to outline new products, significant protocol updates, and celebrate the major milestones.
The latest was the Pi2Day (June 28), when the Core Team unveiled three major infrastructure products aimed at expanding the ecosystem beyond its existing user base. Namely, those were SoloHost, a framework for locally hosting AI apps and distributed computing; Pi Sign-in, which enables third-party websites and apps to authenticate users through Pi accounts; and PiVerify, a KYC and identity verification service for external businesses.
Despite the significance of some of those products, the timing remains a challenge. Such infrastructure improvements require months or even years to translate into measurable network activity and token demand. For now, the actual benefits are missing, and the protocol’s native token continues to dig new lows.
The post Pi Network’s PI Hits New ATL After 11% Crash as 130M Token Unlock Looms appeared first on CryptoPotato.
President Donald Trump has confirmed that he will unveil newly declassified 2020 election intelligence during a Thursday night address alongside top U.S. national security officials.
Summary
- Trump will deliver a primetime address on newly declassified 2020 election intelligence.
- Government reports found no evidence foreign actors changed votes or election results.
- Markets are watching as Polymarket assigns an 8% chance of a court overturning the 2020 election.
According to MS NOW, Trump is scheduled to speak to the nation on Thursday at 9:00 PM ET alongside CIA Director John Ratcliffe, Homeland Security Secretary Markwayne Mullin, FBI Director Kash Patel, and Acting Director of National Intelligence Bill Pulte.
Early speculation suggested the speech would focus on the renewed confrontation with Iran, but the network reported that the administration instead plans to discuss intelligence documents that were recently declassified.
The reports date back to early 2021 and were originally released by the U.S. Department of Justice, the FBI, and the Department of Homeland Security. Their purpose was to assess whether foreign governments interfered with the election process or compromised the security and integrity of the vote.
Officials examined election infrastructure, voter registration systems, vote counting procedures, ballot handling, and the reporting of election results. According to the government assessment, investigators found no evidence that any foreign government-affiliated actor prevented eligible voters from casting ballots, changed votes, altered ballots, disrupted vote counting, or interfered with the timely reporting of election results.
The assessment also documented cyber activity linked to Russia and Iran. While those campaigns successfully accessed some election-related networks, investigators concluded they did not materially affect voter records, ballot integrity, vote totals, or the certified outcome of the election. The report further stated that several claims promoted by Iran regarding weaknesses in the U.S. electoral system were inaccurate or exaggerated.
Markets await details from the White House
Financial markets and political observers are now watching the White House address for additional information about the newly released documents and the administration’s interpretation of their findings.
Prediction market participants have also reacted to the announcement. According to Polymarket data, traders currently assign an 8% probability that U.S. courts will ultimately rule that the 2020 presidential election was fraudulent. The market continues to price in relatively low odds despite renewed attention on the declassified intelligence.
The White House speech follows several days of heightened geopolitical uncertainty that has already affected financial markets. As previously reported by crypto.news, Bitcoin dropped more than 2% toward $62,000 after Trump reinstated an Iranian blockade targeting Iranian ships and customers in the Strait of Hormuz while introducing new cargo fees for vessels crossing the strategic waterway.
Trump said the Strait of Hormuz would remain open “with or without Iran” and declared that the United States would be known as “THE GUARDIAN OF THE HORMUZ STRAIT.” The announcement came after renewed attacks around the vital oil shipping route intensified tensions between Washington and Tehran.
Intelligence findings remain the central focus
Despite the recent geopolitical developments, the upcoming address is expected to center on the declassified election intelligence rather than foreign policy. According to MS NOW, the presence of the nation’s top intelligence and law enforcement officials indicates that the administration intends to present the findings as a national security matter.
Lawmakers, political organizations, and market participants are expected to closely monitor the speech for any additional disclosures beyond the material already contained in the declassified reports. Whether the administration introduces new evidence or simply expands on the existing assessments will likely become clearer once the address begins.
Circle (CRCL) stock price rose nearly 5% on Friday to $66.14 after US regulators approved its national trust bank. Yet the stock still sits down about 20% this year, and its chart points lower.
The banking win gave buyers a reason to step in. However, a broken chart pattern, steady outflows, and rising stablecoin competition suggest the rally may not hold.
A Confirmed Bearish Pattern Keeps Stock Under Pressure
Circle stock formed a head-and-shoulders pattern between April and June. The stock broke below the pattern’s support line in late June. Since then, it has failed to reclaim that lost ground.
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Volume tells the same story. Selling stayed steady between late June and July 10, while buying volume slowly faded, a sign of weak demand.
If buyers were returning, money-flow data would show it. So far, it does not.
Big Money Keeps Leaving Circle
The Chaikin Money Flow (CMF), a measure of institutional buying and selling pressure, sits at -0.38. A negative reading means money is flowing out of the stock.
The indicator has dropped steadily since May and remains below zero. This suggests large investors kept selling even after the bank charter news.
For the CMF to turn bullish, it must first rise above its descending trendline, then above zero. Part of that selling traces back to a growing threat in Circle’s core business.
Stablecoin Rivals Are Eating Into Circle’s Business
Circle earns most of its revenue from the reserves backing USDC. On June 30, a rival called Open USD (OUSD) launched with support from more than 140 firms, and CRCL fell about 15% that day.
Meanwhile, Global Dollar (USDG) is growing far faster than USDC. Over the past six months, USDG’s supply has more than doubled, up 108%, while the USDC market cap slipped 3.3%.
USDC remains far larger at about $73 billion, and it stays MiCA’s clear winner in Europe. Still, the trend shows Circle losing ground as newer, MiCA-compliant coins expand and regulated volume spreads across more issuers.
This pressure helps explain why analysts have started trimming their targets.
Circle Stock Price Levels to Watch
Analysts still see long-term value, but their conviction is cooling. Robert W. Baird kept a Buy rating on July 13 yet cut its CRCL price target from $138 to $100.
On the Circle price chart, $64.37, the 0.382 Fibonacci level, is the line in the sand. A daily close below it opens the path toward $49.86, and then near the $40 zone.
To shift less bearish, the Circle stock price must first clear $73.35, then reclaim $87.86. Until it does, the bearish pattern stays in control. That lingering bearishness could be why Baird is currently setting a lower price target.
The $87.86 level separates a real recovery from a slide toward the $40 zone.
The post Two Rivals Eat Into USDC as Circle Stock Price Eyes a Drop to $40 appeared first on BeInCrypto.
The Brent crude oil (UKOIL) price gained almost 11% on Monday, reaching $83.31 after a bounce from the $71-$73 support zone. The move ranks among the sharpest daily advances since the US-Iran conflict began in late February.
Renewed US-Iran strikes and Washington’s plan to control the Strait of Hormuz drove the rally. Meanwhile, the daily Relative Strength Index (RSI) posted a breakout, suggesting further upside.
Trump’s Strait of Hormuz Plan Sends Oil Soaring
US forces struck hundreds of targets in Iran over the weekend, followed by dozens more on Sunday. The US Central Command said the strikes aim to degrade Iran’s ability to attack vessels in the strait.
Tehran answered with missile and drone attacks on US facilities across the Gulf. Iran also declared the strait closed again and warned ships against crossing outside its authorized routes.
Washington escalated further with a plan to take direct control of Hormuz. The corridor carries roughly one-fifth of global oil trade in peacetime.
Shipping data shows the standoff is already choking supply routes. Only nine vessels crossed the strait in a 12-hour window on Sunday, compared with about 130 daily crossings before the war.
Equity markets absorbed the shock differently. Japanese stocks have already lost 82 trillion yen in three weeks, and the Nikkei 225 fell almost 2% on Monday. In contrast, oil became the main beneficiary of the risk repricing, while South Korean equities extended their chip-driven rout.
Brent Crude Oil RSI Breaks Out After 3 Rejections
The daily RSI for Brent now reads near 55, back above the neutral 50 line. The indicator measures the speed and scale of recent price moves. Readings above 50 signal that buyers are in control of momentum.
A descending resistance line had capped every recovery since the RSI peaked near 90 in early March. Sellers defended that line twice in May, near 64 and 58, and once more in June, near 46.
However, momentum bottomed near 27 in late June, close to oversold territory. In early July, the RSI finally pushed through the trendline. The indicator then accelerated above the neutral zone, confirming the breakout.
The signal would flip bearish only if the RSI falls back below 50 and returns under the broken line. Until then, momentum favors the recovery that began at the July low.
Brent Crude Oil Price Prediction Puts $90-$92 in Focus
Between February and May, Brent traded inside a large symmetrical triangle. The pattern connected the $118 area peak with the $91 area low. Price broke down from the triangle in late May and slid to the $71-$73 support zone by early July.
That zone held. Buyers built a base there over two weeks, and Monday’s session pushed the structure higher. Brent opened near $78 and printed an intraday high of $83.54, a gain of 10.76% at the time of writing.
The next barrier sits at $90-$92. That area served as a triangle support in April and early June. It now acts as the confirmation zone of the earlier breakdown. A rejection there could validate the bearish structure and send the price back to $71-$73.
A daily close above $92, however, would invalidate the breakdown and restore the bullish outlook from earlier this year. The geopolitical risk premium could stay elevated as long as Iran keeps the Strait contested.
Whether $90-$92 caps the recovery will decide if Monday’s spike becomes a reversal or another lower high.
The post Brent Crude Oil Price Jumps 11% as Trump Moves to Control Strait of Hormuz appeared first on BeInCrypto.
Almost all US stocks failed to build lasting wealth over the past century, a new Arizona State University study found, after tracking 29,754 companies from 1926 through 2025.
Just 1,082 of those firms, about 3.7%, created all of the market’s net gains. Every other stock, on average, did no better than owning Treasury bills. Those bills are short-term government loans, among the safest places to park cash.
Most US Stocks Trailed Treasury Bills
The paper, “One Hundred Years in the U.S. Stock Markets,” uses the University of Chicago’s CRSP database. It covers every stock listed on the New York and American exchanges and Nasdaq since 1926.
Its author, finance professor Hendrik Bessembinder, updated his landmark 2018 study on the same question. That earlier work first showed how few stocks drive the entire market.
The century of data shows nearly 60% of stocks left investors worse off than those safe Treasury bills. Only about 41% managed to beat them.
The averages are misleading. The middle, or median, stock lost 6.9% over its life. The overall average topped 30,000%, lifted by a handful of giant winners.
The same imbalance appears today, with gains driven by fewer and fewer companies, a pattern analysts call narrow market breadth.
A Few Giants Created the Gains
Five companies created more than one-fifth of all stock market wealth since 1926. Apple leads at $5.02 trillion, about 5.5% of the total. Nvidia follows at $4.58 trillion.
Microsoft, Alphabet, and Amazon round out the top five. All belong to the Magnificent Seven, the small group of Big Tech stocks that now dominates the market. Those seven created 24.2% of the century’s wealth, fueling Big Tech bubble warnings in 2026.
Timing shows how fast this happened. Nvidia only went public in 1999, yet it and Apple now hold about 10% of all wealth ever created. The trend helps explain why semiconductor stocks outperformed Big Tech and crypto this year.
“People keep saying the S&P is being carried by a handful of AI stocks, as if this is something new. It is not. The market has always run on a tiny number of winners. What changed is how few of them there are now,” analyst Bull Theory remarked.
Even the market’s smallest Nvidia supplier stocks have joined the rally.
Market Concentration Is Accelerating
The concentration is tightening fast. Using data through 2016, the 2018 study found 89 firms made up half of all net wealth.
Nine years later, just 46 firms make up half. Over the same span, total wealth ballooned to $91 trillion from $43 trillion. The winners’ circle shrank as the prize doubled.
Those nine years line up almost exactly with the rise of Big Tech and the AI boom. That overlap raises the stakes of any looming stock selloff in the market’s few leaders.
Bessembinder’s message has held for three decades. A few stocks carry the whole market, which he says favors broad index funds over picking individual winners.
The working paper has not yet been peer reviewed.
The post 96% of US Stocks Failed to Create Wealth Over a Century, Study Finds appeared first on BeInCrypto.
Reed Smith, a global law firm with over 30 offices across North America, Europe and Asia, has launched an automated compliance platform designed to help crypto companies navigate the European Union’s Markets in Crypto-Assets (MiCA) regulation as the bloc enters a new phase of crypto oversight.
The platform, called Aquarius, automates key compliance tasks including crypto-asset classification, regulatory white paper generation, due diligence and environmental, social and governance (ESG) disclosures. Reed Smith said it plans to expand the platform to support crypto compliance regimes in the United Kingdom, the United Arab Emirates, Hong Kong and Singapore.
According to the firm, Aquarius is intended to simplify MiCA compliance for companies entering the European market or expanding their crypto offerings in the region by combining automated workflows with legal expertise.
The launch comes shortly after the European Union’s MiCA transition period ended on July 1, when crypto companies could no longer rely on temporary national exemptions in countries that adopted the full grandfathering period. The sweeping MiCA framework establishes licensing, consumer protection and operational requirements for digital asset service providers across the 27-member EU.
Reed Smith operates a global digital asset practice under its “On Chain” initiative, advising on several high-profile industry transactions. It served as legal counsel to the placement agents in Trump Media’s $2.5 billion Bitcoin treasury financing and advised Nakamoto Holdings in its merger with KindlyMD to create a Bitcoin treasury company.
Related: Regulators invited Binance to seek new licenses after MiCA setback, co-CEO says
MiCA compliance still presents challenges
Despite MiCA’s harmonized framework, obtaining authorization remains a complex process for many service operators. Last week, the European Securities and Markets Authority (ESMA) launched a supervisory review of authorized crypto-asset service providers, examining how custodians safeguard client assets and manage operational risks.
According to Sebastien Dessimoz, co-founder and managing partner of digital asset infrastructure provider Taurus, obtaining a MiCA license is only the beginning for custodians, who face ongoing scrutiny over cybersecurity, governance and ability to protect client assets.
Meanwhile, reports suggest EU policymakers are considering revisions to MiCA’s stablecoin framework, including rules governing the issuance of non-euro-denominated stablecoins. According to Euronews, the discussions have been prompted in part by the United States’ GENIUS Act, which established a federal framework for payment stablecoins.
A hacker made off with over $135,000 after hijacking the X accounts of SpaceX and Starlink to promote a meme coin.
The profiles were used to shill a Robinhood-based token that briefly hit a $2 million market cap before crashing to almost zero.
SpaceX and Starlink Fall Victim to Compromise
Screenshots circulating on social media show both accounts reposting content from the token’s profile, with the posts featuring a Sam Altman (SCATMAN) meme coin and tags claiming they were associated with SpaceX.
On-chain data shows the hacker created 10 trillion tokens and sold the entire stash, converting it into 59 Ether (ETH) worth around $108,000 shortly after the posts went live.
According to Lookonchain, a separate wallet linked to the attacker made another sale of 59.28 million SCATMAN tokens for 14.7 ETH, valued at approximately $27,000, bringing the total profit to roughly $135,000. The on-chain analytics platform also identified the two addresses used by the hacker.
Per GeckoTerminal data, SCATMAN’s market cap surged to over $2 million before being immediately rug-pulled. Meanwhile, both companies have since deleted the fake posts and regained control of their accounts.
Rug Pulls Remain Common in Crypto Space
Prominent social media account takeovers have become common in the crypto space, many of which have been used to pump and dump low-cap cryptocurrencies.
For instance, Scroll co-founder Ye Chen’s X account was hijacked in January 2026, with attackers impersonating platform staff and sending phishing messages about copyright violations that tricked crypto leaders into clicking malicious links.
A couple of months later, Pepe creator Matt Furie’s account was used to promote a scam token. Around the same time, WinRAR’s official account was also compromised to push a fake Solana meme coin to its followers.
The most notable breach came in May when Keith Gill, popularly known as Roaring Kitty, had his dormant account breached. In this case, hackers launched Red Kitten Crew (RKC) on Solana and walked away with more than $600,000 in half an hour.
Each case followed a pattern seen in crypto several times, where influencers create hype, developers cash out, and retail traders are left dealing with losses.
The post Scammer Makes $135K After Hijacking SpaceX, Starlink Accounts to Shill Meme Coin appeared first on CryptoPotato.
Crypto World
European Blockchain Convention Returns to Barcelona for Europe’s First Post-MiCA Gathering
Barcelona, Spain, July, 2026 — Eleven weeks after the European Union’s MiCA deadline, the 12th edition of the European Blockchain Convention (EBC12) returns to Barcelona at a pivotal moment for the industry. It is the region’s first major institutional gathering since the world’s first comprehensive cross-border digital asset regulation became fully law, and the event where European deal flow happens.
MiCA is now fully in force. For European markets, the focus shifts to what comes next: CASP licensing, stablecoin issuance, and the role of CBDCs in cross-border settlement. EBC12 is where that conversation takes place.
Rather than chasing mandates city by city across London, Paris, Frankfurt, Zurich, and Barcelona, EBC12 compresses the European digital asset market into a single two-day commercial arena. It takes place on 16–17 September 2026 at the Palau de Congressos de Catalunya.
Europe has set the pace for compliant digital asset markets, giving the industry a clearer framework for how crypto can scale within regulation rather than around it. The institutional signal is unmistakable: Deutsche Börse has invested $200 million in Kraken; Santander’s digital bank, Openbank, has expanded its crypto trading for customers across Germany and Spain. Both will be among the institutions discussing what comes next in Barcelona this September.
EBC expects 80 of Europe’s top 100 banks in Barcelona this September, up from 50 last year. The debate about whether institutions will enter digital assets is over. EBC12 is where they come to work out what comes next.
“Eight years ago, we built EBC because we believed Europe would be where this industry matured. A lot of people thought we were early. In 2026, European banks are deploying capital, institutional products are live across major markets, and the regulatory framework is in place. EBC is where the people driving that change meet once a year to do real business,” said Victoria Gago, Co-CEO of European Blockchain Convention and Digital Assets Forum.
Sessions cover institutional capital allocation, real-world asset tokenisation, regulatory market structure, and the future of stablecoins and CBDCs as global settlement infrastructure.
Confirmed speakers include Emma Landriault, Head of Kinexys Labs at J.P. Morgan; Mohamad Zaraket, Head of Digital Assets Strategy EMEA at BNY; Kathleen Wrynn, Global Head of DA, Invesco; Victor Jung, Vice President, Digital Assets & Currencies, Hamilton Lane; Previn Singh from Fidelity and Colin Payne, Head of Innovation at the Financial Conduct Authority, among more than 300 speakers from across banking, asset management, infrastructure, and policy.
Alongside the main programme, EBC12 features 10,000 pre-arranged one-to-one meetings, a Buy Side Breakfast for allocators and institutional investors, and a dedicated press room with direct access to speakers.
EBC12 expects over 5,000 attendees from 90+ countries for two days of market intelligence, strategic networking, and commercial momentum at the Palau de Congressos de Catalunya, a new premium venue reflecting the event’s institutional evolution.
About European Blockchain Convention
Founded in 2018, the European Blockchain Convention has grown into a key driver of European deal flow in digital assets, bringing together banks, asset managers, regulators, infrastructure providers, and builders annually. Alongside EBC, the Digital Assets Forum series extends this reach across London, Abu Dhabi, and New York throughout the year.
Tokyo-based SBI VC Trade has opened applications for a new lending product that lets users earn yield on a yen-denominated stablecoin, JPYSC. The service will accept JPYSC deposits starting Thursday and lend them for a fixed 12-week term, advertising an annualized rate of 3% and a gross return of roughly 0.69% over the period, before taxes, according to an SBI VC Trade press release.
While the yield is positioned as higher than typical bank rates for yen deposits cited by SBI, the structure is not treated as a traditional deposit product. The company also warns that the tokens lent out are not protected by deposit insurance and could be partially or fully lost if the lender faces bankruptcy.
Key takeaways
- SBI VC Trade is launching a 12-week JPYSC lending program with an advertised 3% annualized rate.
- Gross return over the term is estimated at ~0.69% (before tax), based on the stated annualized yield.
- Not a bank deposit: the product is not covered by deposit insurance and cannot be canceled early.
- No statutory asset segregation: customers’ lent tokens could be exposed in the event of bankruptcy.
- Broader push: the launch follows SBI’s recent trust-structured yen stablecoin rollout and a new partnership aimed at expanding onchain finance infrastructure.
How the JPYSC lending service is structured
SBI VC Trade’s new offering is designed around a straightforward mechanism. Users will lend their JPYSC tokens to SBI VC Trade’s business and, at maturity, receive the tokens back along with a lending fee, the company said in its Monday announcement.
At the advertised rate, the company estimates a gross return of about 0.69% for a 12-week lending window, before tax. SBI additionally framed the product as offering more than the 0.325% to 1% annual range that it cited for ordinary yen deposits.
Even so, SBI is clear that this arrangement is not equivalent to holding yen in a bank account. The tokens are lent rather than deposited, the service is not covered by deposit insurance, and early cancellation is not generally available. The release further notes that the JPYSC lent to SBI VC Trade will fall outside statutory asset segregation requirements.
For users, that distinction is critical: if the company were to go bankrupt, customers could lose some or all of their tokens. In other words, the product introduces stablecoin-credit risk even though it is marketed as a yield-bearing use case for a yen-backed instrument.
Why SBI is moving stablecoins toward yield
The application opening comes shortly after SBI unveiled its trust-structured yen stablecoin, introduced on June 24. With regulated stablecoins in Japan increasingly expanding from payments toward interest-bearing applications, SBI VC Trade is effectively adding a yield layer that can make holding JPYSC more attractive than leaving funds idle.
SBI VC Trade previously launched lending services in Japan for Circle’s USDC in March, allowing retail customers to lend the dollar-denominated stablecoin in exchange for passive yield. In the new program, SBI is extending the same concept to a yen-denominated stablecoin.
From an investor and user perspective, this is part of a broader shift in stablecoin utility: rather than viewing stablecoins solely as a payment rail, issuers and platforms are pushing toward them functioning as productive onchain capital. However, these products also tend to shift risk from price volatility toward counterparty and legal-structure risk—particularly when segregation and insolvency protections are not aligned with deposit-like expectations.
Solana partnership expands SBI’s onchain ambitions
SBI’s stablecoin lending push is occurring alongside plans to scale the infrastructure behind its onchain activities. Separately from the JPYSC lending product, SBI Holdings announced a strategic partnership with the Solana Foundation aiming to develop a Japanese onchain financial market.
As part of the partnership, the Solana Foundation will join SBI R3 Japan, which will be renamed SBI Solana Global and tasked with issuing a new growth strategy focused on the yen-backed stablecoin. The initiative also lays out goals related to expanding stablecoins and tokenized real-world assets across Asia, and building infrastructure for institutional onchain financial services, cross-border payments, and payment tooling for AI agents.
While the lending program itself is delivered through SBI VC Trade’s product framework, the partnership suggests the company wants JPYSC to be more than a local feature. The stated aim is ultimately to broaden how yen stablecoins can be used across a larger onchain and settlement ecosystem.
Japan policy signals support for Web3 startups
The timing of the launch also aligns with reported positive signals for Japan’s wider crypto and Web3 startup environment. According to a CoinPost report, Japanese Prime Minister Sanae Takaichi reportedly said in a video address at WebX 2026 that the government plans to strengthen support for crypto and Web3 startups.
The measures reportedly include increased funding via government-backed funds and easing of regulatory requirements. The government’s direction has been reinforced by policy frameworks such as the “Startup Total Power Package” introduced in May 2025, and a “Five-Year Startup Development Plan” formulated in 2022, which aims to increase startup investments to 10 trillion yen by fiscal 2027, according to the Cabinet Office documents.
Separately, in April 2026, Japan amended the Financial Instruments and Exchange Act to classify crypto assets as financial instruments. That change moves digital assets out of an experimental payments category and places them in a more established regulatory framework comparable to stock market instruments.
For markets, these developments matter because they reduce friction for compliant product design and may help explain why stablecoin use cases—like lending—are emerging in more structured formats rather than remaining experimental.
With SBI VC Trade starting applications for this 12-week JPYSC lending program, the next thing readers should watch is not only participation and returns, but also how consistently Japan’s evolving regulatory approach supports stablecoin yield products—especially around insolvency exposure, token handling, and whether future offerings add stronger protections for users.
Gondor has introduced a portfolio-backed margin account that allows Polymarket traders to borrow against their entire prediction market holdings instead of individual positions.
Summary
- Gondor launches V1 with portfolio-backed borrowing for Polymarket traders.
- Cross-margin replaces isolated lending after a seven-month beta program.
- Private access begins next week, with a public launch planned for September.
According to Gondor’s announcement on Monday, the new product, called V1, uses a cross-margin system that evaluates a trader’s complete Polymarket portfolio as collateral before extending credit. Private access is scheduled to begin next week, while a public launch is planned for September. Gondor also said it does not take custody of user assets.
The release expands on the company’s original lending strategy announced after its August 2025 angel funding round. As previously reported by crypto.news, Gondor raised capital in a round led by Maven11 Capital, with participation from investors associated with Polymesh, Rhino.fi, Futuur, Salt, and others to develop lending products for Polymarket traders. V1 builds on that effort by replacing position-based borrowing with portfolio-backed credit.
Cross-margin model replaces isolated lending
Before introducing V1, Gondor spent seven months testing its lending system through a closed beta. According to the company, more than 150,000 users joined the waitlist, after which it reviewed applicants’ Polymarket activity and selected 1,000 of the platform’s most active traders to participate.
During the beta, borrowers initially used an isolated lending model that treated each prediction market position separately. Gondor said this approach exposed lenders to binary market risk because a position could rapidly lose nearly all of its value before liquidation became possible.
As a result, the company said lenders had to compensate for that risk by charging higher borrowing costs and imposing tighter conditions. Lending was limited to more liquid markets, borrowing capacity was capped, and some loans had to be closed before the related prediction markets reached resolution.
Gondor added that these safeguards protected lenders but reduced the borrowing experience for traders by limiting available credit and shortening the lifespan of loans.
Portfolio collateral supports larger credit lines
The company said V1 addresses those issues by allowing gains from one position to offset losses in another, similar to how traditional prime brokers extend credit against an investor’s overall portfolio rather than evaluating assets individually.
According to Gondor, this portfolio-based structure makes it possible to provide more borrowing capacity while lowering financing costs. The company also said the system can support a larger variety of prediction markets and lets traders keep positions open until market resolution instead of forcing early loan closures.
Although Gondor outlined how the cross-margin model works, several operating details remain undisclosed ahead of the private rollout. The announcement did not specify borrowing rates, collateral requirements, liquidation thresholds, or which prediction markets will be available when early access begins.
The company has not indicated whether those terms will be finalized before the September public release, but the upcoming private access period is expected to provide the first live test of the portfolio-backed lending model outside its closed beta.
Spain has recorded the largest fan token burn of the FIFA World Cup 2026 after more than 1.16 million SPAIN Fan Tokens were permanently removed from circulation following the team’s quarter-final victory.
Summary
- Spain burned 1.16 million SPAIN Fan Tokens after defeating Belgium in the World Cup quarter-finals.
- The Burn to Glory campaign has now removed nearly 3 million SPAIN tokens from circulation.
- Chiliz and LBank expanded fan token trading with new futures products and live trading competitions.
According to Chiliz, Spain’s 2-1 win over Belgium triggered the destruction of 1,161,234 SPAIN Fan Tokens under its Burn to Glory campaign, reducing the token’s total supply to 27.25 million. The company said the burned tokens were worth about $649,050 and pushed Spain to the top of the tournament’s burn leaderboard with nearly three million tokens removed so far.
With Spain now through to the semi-finals as the first World Cup affiliate among Chiliz’s national team partners, another victory over France would take the cumulative burn above the three million token milestone, according to the campaign’s mechanics.
Spain extends its lead in Chiliz’s Burn to Glory campaign
Burn to Glory ties token burns to on-field success, permanently removing part of a participating national team’s fan token supply after qualifying wins. Spain has benefited the most from the mechanism during this year’s tournament, while Belgium remains second on the leaderboard despite leaving the competition.
Chiliz said Belgium’s quarter-final defeat did not change its standing as the second-largest contributor to the campaign, with about 870,000 BELG Fan Tokens already burned during the World Cup.
Argentina has also continued climbing the rankings after beating Switzerland to reach the final four. According to Chiliz, a total of 160,000 ARG Fan Tokens have been burned across the tournament. The company added that Argentina’s treasury burn allocation will increase from 5% to 7.5% as a result of its semi-final qualification.
Portugal, which exited after losing to Spain in the Round of 16, also took part in the campaign. Chiliz reported that 208,000 POR Fan Tokens were permanently removed before the team’s elimination.
Fan token trading expands beyond tournament results
Alongside the burn campaign, Chiliz has continued adding trading features around fan tokens as interest in the World Cup ecosystem grows.
Crypto exchange LBank has introduced perpetual futures for Argentina and Portugal fan tokens while announcing plans to list futures contracts for several major football club tokens. According to the exchange, upcoming additions include tokens linked to Atletico Madrid, Barcelona, Juventus, Paris Saint-Germain, Manchester City, Galatasaray and Arsenal.
Elsewhere, Chiliz has launched live weekly trader competitions through its Vibe Trading and Battle Trade products, allowing participants to compete while World Cup matches are being played.
Away from the tournament, the company is also preparing its next expansion for the Socios platform. Following regulatory approval in the United States, Chiliz said it is working toward launching college sports fan tokens on the app, with the rollout scheduled for the 2026 college sports season.
Earlier in the tournament, the Socios team also organized a Token Hunt promotion that allowed users to collect SPAIN and BELG Fan Tokens along with CHZ rewards before the latest Burn to Glory milestones were reached.
Together, those initiatives show that Chiliz has continued building activity around fan tokens beyond match-day price movements, while tying token supply changes directly to results on the pitch.
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