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Ripple lawyer links CLARITY Act to U.S. job growth

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Ripple exec says banks want crypto benefits without the complexity

Alderoty argues the CLARITY Act could support employment, but his statement remains an industry claim.

Summary

  • Alderoty argues the CLARITY Act could support employment, but his statement remains an industry claim.
  • An NCA-commissioned study estimates crypto directly employs 34,000 workers and supports 232,000 jobs nationwide today.
  • The modeled employment total includes supplier positions and jobs supported indirectly through household worker spending.
  • Senate records schedule a September 15 cloture vote determining whether lawmakers begin formally considering CLARITY.
  • CLARITY passed the House 294-134, while Senate Banking advanced amended legislation by 15-9 in May.

An NCA-commissioned study estimates crypto directly employs 34,000 workers and supports 232,000 jobs nationwide today.

Senate records schedule a September 15 cloture vote determining whether lawmakers begin formally considering CLARITY.

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Ripple Chief Legal Officer Stuart Alderoty urged U.S. senators to support the Digital Asset Market Clarity Act ahead of its next procedural vote, arguing that the legislation could promote employment and economic growth.

“A vote for Clarity is a vote for jobs and economic growth,” Alderoty wrote on Aug. 30. His statement is a policy argument rather than a finding that passing the bill would create a specific number of jobs.

Alderoty is also president of the National Cryptocurrency Association, which commissioned the employment research underpinning his argument

CLARITY Act job figures rely on economic modeling

The NCA’s Crypto at Work report, produced by Pragmatic Policy Group, estimates that crypto companies directly support about 34,000 full-time-equivalent U.S. positions in 2026.

The study places the industry’s broader employment footprint at 232,000 jobs. That total includes approximately 75,000 supplier positions and 123,000 jobs connected to spending by workers whose employment is directly or indirectly linked to crypto.

The 232,000 figure does not mean cryptocurrency businesses employ that many people directly. It is an economic-impact estimate built using multiplier effects across cloud computing, legal services, accounting, housing, transportation and other sectors.

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As crypto.news reported, the model uses 2024 Bureau of Economic Analysis input-output tables, Bureau of Labor Statistics data and a $23.22 billion industry revenue estimate sourced from Statista.

NCA estimates $55B economic contribution

The report estimates that crypto-related activity will contribute more than $55 billion to U.S. gross domestic product during 2026. It also projects approximately $31 billion in worker income.

Average wages across the jobs included in the model were estimated at about $133,000. The NCA compared that figure with a national median wage of roughly $64,000.

California represented an estimated 57,649 supported jobs, followed by New York with 53,766 and Texas with 26,536. Washington and North Carolina accounted for about 15,097 and 9,524 jobs, respectively.

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These are modeled estimates rather than a live payroll census. The report was commissioned by an industry association led by Alderoty, so its findings should not be presented as independent government employment statistics.

CLARITY Act faces September 15 Senate test

Official Senate records schedule a cloture motion on H.R. 3633 for Sept. 15 at 2:15 p.m. Eastern. The vote will determine whether senators formally begin considering the legislation.

It will not be a final vote on passing the CLARITY Act. The motion to proceed requires 60 votes, meaning Republican senators will need Democratic support to advance the bill.

The House passed the legislation by 294-134 on July 17, 2025, according to the official roll-call record. Seventy-eight Democrats joined Republicans in supporting the measure.

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The Senate Banking Committee advanced an amended version by 15-9 in May 2026. Democratic Sens. Ruben Gallego and Angela Alsobrooks joined committee Republicans, according to the committee’s announcement.

Passage would require several additional steps

The CLARITY Act would establish federal definitions and registration rules for digital assets, exchanges, brokers and dealers. It would divide oversight between the Securities and Exchange Commission and Commodity Futures Trading Commission based on the asset and transaction involved.

Clearing cloture would only open Senate consideration. Senators could then debate and amend the legislation before holding a separate passage vote.

Because the Senate committee changed the House-approved measure, both chambers would need to approve identical language before the bill could reach the president.

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As previously reported, ethics rules and stablecoin provisions remain disputed. The debate includes proposed restrictions involving public officials’ crypto interests, consumer protections and stablecoin rewards.

Alderoty’s claim that CLARITY would support future employment cannot be tested unless the legislation becomes law. The NCA report estimates the industry’s current economic footprint but does not quantify how many additional jobs the bill itself would create.

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Ripple mints 11M RLUSD as supply tops $2.3B

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

Ripple recorded another round of RLUSD treasury activity on Aug. 31, including an 11 million-token mint and a separate 11 million-token burn.

Summary

  • 11 million RLUSD was minted and 11 million burned at treasury addresses on August 31.
  • CoinGecko placed RLUSD’s circulating supply and market capitalization near $2.37 billion on August 31.
  • Ripple reported $1.87 billion circulating against $1.98 billion in reserves as of August 20.
  • Treasury mints create tokens but do not independently confirm circulation, customer demand or completed issuance.
  • Ethereum and XRP Ledger remain RLUSD’s main networks, although Ripple supports several additional blockchain deployments.

The transactions were reported by the Ripple Stablecoin Tracker. They followed several large operations on the XRP Ledger and Ethereum during the final days of August.

CoinGecko placed RLUSD’s circulating supply and market capitalization at approximately $2.37 billion on Aug. 31. The stablecoin continued trading close to its intended $1 peg, meaning supply growth rather than price appreciation drove the higher valuation.

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RLUSD minting does not necessarily show net demand

A stablecoin mint creates tokens at an issuer-controlled address. Those tokens may remain in treasury, move to an institutional customer or support transfers between networks.

A mint therefore does not prove that an equivalent amount entered public circulation. Likewise, a burn removes tokens from supply and can accompany customer redemptions, treasury management or network rebalancing.

The matching 11 million-token mint and burn on Aug. 31 illustrate that distinction. Viewed separately, the mint suggests expansion. Considered together, the two transactions produced no net increase from those specific operations.

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Ripple did not identify the customer, purpose or economic relationship behind either transaction. The ledger records establish that the transactions occurred, but they do not establish new institutional demand.

As crypto.news previously reported, Ripple minted another 10 million RLUSD on XRPL on Aug. 17. Ripple also did not disclose the receiving customer or intended use of that issuance.

RLUSD supply moved above $2 billion in August

RLUSD crossed $2 billion in market capitalization during August, less than two years after its December 2024 launch. Ripple confirmed the milestone on Aug. 25 and said close to $1 billion had been issued on the XRP Ledger.

In related coverage, RLUSD approached an even split between XRPL and Ethereum when it crossed the threshold. Ethereum held a modestly larger amount at that time.

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Available data now show continued supply expansion. CoinGecko reported approximately 2.37 billion circulating tokens on Aug. 31. XRP Ledger trackers placed the network’s portion above 1 billion tokens after several late-August mints.

Ethereum remains another major venue for RLUSD. Ripple has also extended the stablecoin to Base, Ink, Optimism, Unichain and the XRPL EVM sidechain. Public dashboards do not always provide synchronized supply totals for every network, which can produce differences between data providers.

Ripple’s reserve report trails the latest mints

Ripple’s transparency page reported $1.866 billion in circulating RLUSD and $1.981 billion in reserve funds as of Aug. 20. That official snapshot predates the latest issuance and the $2 billion milestone.

Standard Custody & Trust Company, a Ripple subsidiary supervised by the New York State Department of Financial Services, issues RLUSD. Ripple says reserves consist of cash and permitted cash equivalents held in segregated accounts.

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Deloitte prepares monthly attestations covering the reported circulation and reserve balances. However, those reports are retrospective. They do not provide real-time confirmation of reserve changes after every mint or burn.

The next attestation should offer a clearer view of whether reserve assets increased alongside the late-August supply expansion.

What happens next for RLUSD

Further treasury transactions will show whether the latest mints move into circulation or are offset by additional burns. Transfers from treasury accounts to exchanges, custodians or institutional counterparties could provide more context, although wallet movements alone may not reveal their purpose.

The next reserve report will be the more important disclosure. It should show whether Ripple maintained reserve assets above circulating liabilities as RLUSD moved beyond $2 billion.

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No verified XRP price movement could be directly attributed to the RLUSD transactions. RLUSD growth may add dollar liquidity to the XRP Ledger, but it does not automatically create equivalent demand for XRP.

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Navigating the Noise: HTX Turns 13 with Resilience in Action

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Navigating the Noise: HTX Turns 13 with Resilience in Action

Amid recent discussions in the crypto space, HTX has drawn significant attention.

Like many other exchanges, regulatory scrutiny has become subjects of discussion on this exchange.

However, activity on the HTX platform presents a contrasting picture.

The HTX 13th Anniversary Carnival is now well into its second half, with more than 120,000 rewards already distributed.

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Every day, users set their alarms for 13:13 (UTC+8) to make sure they don’t miss the anniversary red packets. Some are lighting up 9, 11, or 13 Future Gems to unlock rewards, while others have already received their $HTX rewards and shared their wins on social media.

The market has also begun to warm up. Amid price movements in major assets such as BTC, trading activity across both spot and futures markets on the platform has surged.

Furthermore, the 13th Anniversary celebration extends far beyond a single Carnival Month.

Futures traders can participate in the HTX Trading Championship, spot traders can join the Spot Trading Carnival, and users seeking yield opportunities can take part in the HTX Earn Bonanza. In addition, a series of campaigns focused on $HTX, referrals, P2P, and margin trading are being launched in rapid succession.

For users, one way to assess whether an anniversary event is truly engaging is to look beyond its headline prize pool.

Prize pool figures may attract attention, but actual reward distribution is a much more direct measure of the true user experience.

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To date, more than 120,000 rewards have been distributed to users.

The anniversary celebration has only just passed its midpoint.

01 | How Are 120,000 Rewards Being Distributed?

For its 13th anniversary, HTX designed a distinctly crypto-native interactive framework.

Thirteen Future Gems correspond to 13 specific tasks.

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Rather than forcing users to complete every challenge at once, they can progress step by step, starting with the simplest tasks.

Posting a 13th Anniversary wish, completing a Learn & Earn quiz, and purchasing 50 USDT worth of $HTX are among the early-stage milestones. As users progress, the tasks gradually extend into core areas such as spot and futures trading, Earn, fiat deposits, margin trading, and TradFi.

The second half of the progression introduces higher-tier incentives.

At 9 Gems, you can start drawing rewards and receive up to 130 USDT worth of $HTX. At 11 Gems, you can claim an anniversary red packet every day at 13:13 (UTC+8). Light up all 13 Gems for a chance to win up to 1,300 USDT worth of $HTX and unlock the grand prize.

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02 | A Particular 13th Anniversary Period

HTX’s 13th anniversary coincides with a notable period of market and operational backdrop.

There’s a lot of noise in the industry.

Like many other exchanges, HTX is subject to public discussion and scrutiny regarding issues such as regulation and compliance. However, beyond social media commentary, underlying operational metrics provide a far clearer view of the platform’s performance.

According to recent operational statistics disclosed by HTX, the daily average number of deposit and withdrawal orders has remained at tens of thousands since August 23. HTX stated that core services, including spot, futures, deposits, and withdrawals, continue to operate normally.

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In addressing market questions, HTX has maintained open communication regarding its operations and platform stability while encouraging continued public observation. Thus far, these external developments have not interrupted the platform’s operations. User trading activity, capital flows, and anniversary events have continued during this period. These operational indicators provide a more concrete basis for assessing the platform.

03|For an Exchange, Money Is More Honest Than a Tweet

A week ago, Justin Sun, Advisor to HTX, responded to external inquiries with a concise statement:

“Everything is fine.”

This is very much in line with his style of expression.

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However, whether an exchange holding user assets is genuinely operating normally cannot be determined by a single tweet alone.

Money is more honest than a tweet. Operational data provides a more substantive basis for assessment than statements alone.

Key operational metrics provide a more substantive view: whether deposits and withdrawals proceed smoothly; whether trading activity and liquidity remain stable; and whether platform infrastructure can support increased trading volume when market opportunities emerge. These are the core indicators of an exchange’s operational resilience.

Against this backdrop, the theme of HTX’s 13th anniversary—”Resilience Reveals the Future”—takes on greater significance.

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Without recent events, “resilience” might have been nothing more than an anniversary tagline.

Industry narratives frequently reference 13 years of experience, multiple bull and bear cycles, the ability to weather market cycles, and a long-term approach.

Yet operational resilience for an exchange relies on clear fundamentals.

Operational resilience means keeping systems stable during periods of high market volatility, maintaining seamless deposit and withdrawal processing amid external turbulence, addressing issues promptly as they arise, and maintaining system capacity as market volumes recover.

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True resilience is not the absence of problems, but the ability to maintain momentum when problems arise.

Routine deposit and withdrawal processing, together with the distribution of 120,000 rewards, does not imply the absence of operational risk, nor does it replace long-term regulatory resolution.

HTX still needs to address the relevant issues and consistently provide verifiable data to users and market participants.

Resilience can help a company navigate periods of uncertainty, but it should not substitute for addressing underlying issues.

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At least for now, these external developments have not interrupted the platform’s operations.

The post Navigating the Noise: HTX Turns 13 with Resilience in Action appeared first on BeInCrypto.

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Ripple’s (XRP) Sharpe Ratio Just Did Something It Hasn’t Done In a Year

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XRP has seen a notable improvement in its risk-adjusted returns. The Ripple token’s Sharpe Ratio on Binance has now reached its highest level since August 2025.

The indicator is currently stabilizing at around 0.207, according to CryptoQuant, while the price hovers close to $1.40.

Risk-Reward Profile

Over the past few months, XRP’s Sharpe Ratio stayed around negative or neutral levels and fell significantly during the crypto asset’s broader price decline. The recent increase suggests that returns have improved relative to the amount of volatility investors are facing.

The sharp rise in the Sharpe Ratio also occurred alongside the recovery in XRP’s price, which is up by almost 30% over the past month. This indicates that the recent move was accompanied by stronger risk-adjusted performance rather than being only an isolated price increase, CryptoQuant explained.

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However, the indicator’s move to its highest level in a year does not confirm that XRP has entered a steady uptrend. The Sharpe Ratio could reverse quickly if market volatility rises or the token undergoes a significant correction.

Zooming out, institutional demand for XRP-linked investment products was also hard to miss. Last week, US-based spot ETFs pulled in $110.49 million in five days.

CryptoPotato reported that it was the first weekly inflow above $110 million since early December 2025. All five sessions ended in positive territory, and each attracted more than $10 million. Monday saw $13.82 million come in, followed by $23.87 million on Tuesday. Wednesday led the week with $28.14 million, the funds’ strongest single-day showing since January 5.

Another $18.47 million arrived on Thursday, while Friday brought $26.2 million. The latest figures pushed total net inflows across the five ETFs to a record $1.66 billion. Bitwise remains ahead of the other issuers; its ETF now holds slightly more than $600 million in cumulative inflows.

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What’s Next?

Regardless of how promising XRP’s setup may appear, a move toward $1.80 or $2 could remain out of reach until the token reclaims $1.54, according to crypto analyst ChartNerd. That level represents both a six-month resistance wall and the weekly 50 EMA. He further explained,

“Just to be clear, and to reaffirm. I am not suggesting XRP can’t push up towards $1.80/$2. I am suggesting we are under resistance, and if we do get the follow through, it will likely open up an even deeper retrace than what we would witness rejecting the weekly 50 EMA at $1.54.”

The post Ripple’s (XRP) Sharpe Ratio Just Did Something It Hasn’t Done In a Year appeared first on CryptoPotato.

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Alphabet: Five Months of Consolidation Reach Their Breaking Point

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Alphabet: Five Months of Consolidation Reach Their Breaking Point

Alphabet just had a genuinely turbulent month, and the whiplash tells its own story. Despite beating earnings expectations with profits of $9.11 per share, roughly triple what analysts had forecast, the stock actually sold off in the days following the report, weighed down by mounting concerns over AI spending. That mood shifted decisively on Monday, when shares jumped over 5% after Morgan Stanley reassured investors, highlighting Alphabet’s still-robust $53.3 billion in free cash flow over the past twelve months, even as cloud capital expenditure could exceed $1.2 trillion in 2027.

The underlying business remains genuinely strong: Google Cloud revenue surged 82% year-over-year to $24.8 billion in Q2, and the company has been actively defending its position, launching more budget-friendly AI pricing to compete directly with rivals. That said, not everything has gone smoothly. Alphabet agreed to pay £260 million to settle a UK class-action lawsuit this week, and a leadership shakeup within its AI division, including the departure of key figures, has added a layer of organizational uncertainty investors are still digesting.

The result: a company delivering genuinely impressive growth, but one whose massive AI bet keeps testing investors’ patience with every headline.

Technical Analysis of Alphabet (GOOGL)

As the GOOGL chart shows, the stock has been compressing into a symmetrical triangle since April, with a descending trendline from the 400 highs converging with an ascending trendline off the 269 low, both meeting right at the current price near 340–346, exactly where the 0.5 Fibonacci retracement and the 200-period EMA also sit.

Bullish Scenario

Should buyers defend this trendline-EMA confluence and break decisively above the descending trendline, the path would open toward the 0.382 retracement near 356.79, with a stronger move potentially targeting the 0 level at 382.88, the origin of the entire pullback.

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Bearish Scenario

Conversely, a break below the ascending trendline and the 0.618 retracement near 340.66 would expose the 0.786 level near 329.19, with a deeper slide risking a retest of the 314.57 low that anchored this five-month structure.

With price coiled right at the apex of this triangle, sitting exactly on the 200-period EMA, Alphabet’s next move looks set to be decisive. Will the AI spending story finally translate into a genuine breakout, or does the stock settle back into its earlier range?

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This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

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Elon Musk Warns AI Hacking Will Go Superhuman by End of 2027

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SpaceX Wants $75 Billion for IPO — Analysts Warn It’s Worth Half the Valuation

Elon Musk expects artificial intelligence to beat humans at hacking by the end of 2027. He put AI hacking first among the digital tasks machines will dominate.

The forecast followed a fresh security scare. The software company JFrog disclosed a critical flaw in Artifactory, the package registry that many software teams use to store and distribute code.

The Flaw That Reopened the AI Hacking Debate

JFrog published CVE-2026-82329 on August 28. The vulnerability scores 9.8 out of 10 on the standard scale. The company has since shipped patched builds.

Attackers need no password and no user interaction. Default configurations sit exposed. Because Artifactory holds build files, a single break can poison everything downstream. Such supply chain attacks spread through trusted downloads rather than direct break-ins.

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Vercel Chief Executive Guillermo Rauch speculated that autonomous agents found and exploited the bug. The public record says otherwise.

OpenAI models discovered nine Artifactory zero-days during a July evaluation. JFrog patched those in version 7.161.15. The new flaw still affects later builds, so the two sets look separate. The July episode joined other cases of AI models breaching systems.

Musk Puts a Deadline on Machine Superiority

Rauch argued that 2026 keeps erasing the things AI supposedly cannot do. Musk agreed and went further.

Musk also credited Google co-founder Larry Page, who warned him a decade ago that AI hacking would outclass human experts. Musk has sharpened his AI growth predictions repeatedly this year.

Vercel Chief Technology Officer Malte Ubl reported a similar result. An open-weight model he tested wrote its own fuzzer while probing the company’s sandbox. Fuzzers hunt software bugs by flooding a program with malformed input.

Rauch draws a blunt conclusion for customers.

Our guidance for this new world: assume everything hackable will get hacked. And it will get hacked autonomously. You must also defend yourself autonomously, because your surface of attack is likely bigger and your code more vulnerable than you expect.

Guillermo Rauch, X

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Coinbase CEO Brian Armstrong expects a rogue AI event within two years. Separately, OpenAI already ships a cyber-focused defense model to approved defenders.

Liability still lags the technology, however, and accountability for AI agents remains unsettled. Musk’s deadline leaves security teams roughly 16 months. The harder question is whether defenses scale as fast as AI hacking.

The post Elon Musk Warns AI Hacking Will Go Superhuman by End of 2027 appeared first on BeInCrypto.

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GCSA Agent Achieves 91.3% on CyberGym, Ranking Among the World’s Leading AI Cybersecurity Agents

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GCSA Agent Achieves 91.3% on CyberGym, Ranking Among the World’s Leading AI Cybersecurity Agents

GCSA Agent demonstrates autonomous vulnerability analysis and PoC generation capabilities on a highly challenging real-world vulnerability benchmark

The Global Cybersecurity Alliance (GCSA) today announced that GCSA Agent achieved a 91.3% success rate on the CyberGym benchmark, placing it within CyberGym’s “Leading Systems Above 90%” category.

CyberGym is a large-scale, real-world cybersecurity evaluation framework developed by a research team at the University of California, Berkeley. It contains 1,507 historical real-world vulnerability test cases across 188 major software projects and is designed to evaluate the practical capabilities of AI agents in real-world vulnerability analysis scenarios.

Unlike traditional AI benchmarks that primarily assess code understanding, knowledge-based question answering, or static analysis, CyberGym requires AI agents to work directly within real-world vulnerable code environments.

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In its core Level 1 evaluation, an AI agent is provided only with a vulnerability description and an unpatched code repository. It must then autonomously perform code analysis, locate the vulnerability, reason about potential attack paths, construct a PoC, and execute it for validation. A task is considered successful only if the generated PoC successfully triggers the target vulnerability in the vulnerable version while failing to reproduce the issue in the patched version.

CyberGym therefore measures more than whether an AI system can simply “understand code.” It evaluates whether the AI can complete the full process from security analysis to vulnerability reproduction and validation.

From Large Language Models to Security Agents

In this CyberGym evaluation, GCSA Agent operated on Grok 4.5 and Grok 4.6 models and achieved a final success rate of 91.3%.

The result also reflects an important shift taking place in AI cybersecurity:

The underlying large language model alone no longer determines the system’s ultimate security capabilities.

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Real-world vulnerability research typically requires a continuous sequence of tasks, including understanding vulnerability descriptions, searching large codebases, identifying attack surfaces, formulating vulnerability hypotheses, generating test inputs, executing programs, analyzing feedback, and repeatedly iterating on PoCs.

GCSA Agent is built around an agentic security workflow designed to support this end-to-end process.

Its objective is not simply to use a large language model for code analysis, but to enable AI to operate within real execution environments, autonomously formulate hypotheses around security issues, collect runtime evidence, execute tests, and ultimately validate security findings through reproducible results.

The CyberGym evaluation provides a quantitative external benchmark for these capabilities.

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Vulnerability Research Capabilities for the Real World

A core value of CyberGym lies in narrowing the gap between traditional AI testing and real-world cybersecurity research.

Its evaluation environment restores software projects to their pre-patch vulnerable states. An AI agent may need to autonomously identify an issue within a large codebase containing thousands of files and millions of lines of code, and ultimately generate a PoC capable of actually triggering the vulnerability.

More importantly, further CyberGym research has shown that such agentic security capabilities are not limited to reproducing known vulnerabilities.

In open-ended vulnerability research experiments, AI agents have identified multiple previously unknown zero-day vulnerabilities as well as historical security patches that did not fully resolve the underlying vulnerabilities. These findings demonstrate the potential for autonomous vulnerability analysis technologies to evolve from reproducing known vulnerabilities toward discovering real-world security flaws.

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For GCSA, this represents an even more important direction of development.

Benchmark performance is not the end goal.

GCSA aims to further develop AI Security Agents capable of operating in real-world cybersecurity environments and gradually participating across the full security lifecycle, from vulnerability discovery and analysis to validation and subsequent remediation.

Building AI-Native Cybersecurity Capabilities

As artificial intelligence accelerates software development, AI is also transforming the way vulnerabilities are researched and cyber threats are addressed.

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As software systems continue to grow in scale and complexity, the next generation of cybersecurity will increasingly depend on collaboration between human security experts and autonomous AI agents.

AI Security Agents have the potential to help security teams:

  • Identify software vulnerabilities with genuine exploitation potential at an earlier stage;
  • Automatically analyse complex attack paths across large codebases;
  • Automatically generate PoCs and perform execution-level vulnerability validation;
  • Reduce false positives in traditional security detection through real execution results;
  • Accelerate vulnerability assessment, validation, and remediation;
  • Expand the scale of software and systems that specialised security teams are able to cover.

GCSA Agent’s 91.3% score on CyberGym represents an important milestone in GCSA’s development of AI-native cybersecurity capabilities.

Going forward, GCSA will continue advancing research into autonomous vulnerability analysis, AI Security Agents, and intelligent cybersecurity technologies, further translating frontier AI capabilities into real-world security capabilities and providing technical support for a safer, more trustworthy, and more resilient digital environment.

Source: GCSA Global Cybersecurity Alliance
Official Website: www.gcsa.org

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Luke Dashjr exits mining pool Ocean after split over Bitcoin mining’s future

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Luke Dashjr removed as Bitcoin BIP editor after controversial BIP-110 fork stalls


The split was mutual, with both parties citing differing views on the future of Bitcoin mining and recent protocol developments.

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Cosmos EVM vulnerability drains MANTRA, TAC and KiiChain in cross chain attacks

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Ripple-backed OUSD launch hit by fake issuer scam on XRP Ledger

Cosmos Labs has disclosed that attackers exploited a critical Cosmos EVM vulnerability across six blockchain networks between Aug. 20 and Aug. 25, converting stolen tokens into about $5.72 million in assets through decentralized and centralized exchanges.

Summary

  • Attackers exploited a critical Cosmos EVM flaw across six networks between Aug. 20 and Aug. 25, converting stolen tokens into about $5.72 million in other assets.
  • Cosmos Labs first received the vulnerability report in April but initially concluded that production networks were not at risk and handled the fix through its silent patch process.
  • MANTRA lost 720.9 million tokens worth about $3.6 million, while TAC and KiiChain later suffered separate attacks using the same method.
  • The first attack began about 20 hours after patched Cosmos EVM versions were released without a vulnerability specific advisory to network operators.
  • Cosmos Labs coordinated with 40 chains during the response and helped 13 networks patch or halt before they could be attacked.

Cosmos Labs said in a technical post-mortem published Friday that the flaw had first been reported through its bug bounty program on April 25, nearly four months before the attacks began. Its testers were unable to reproduce the exploit against configurations used by known production Cosmos EVM networks and concluded at the time that live user funds were not at risk.

Based on that assessment, developers handled the vulnerability through a silent public patch instead of privately distributing a security fix to affected chains. Cosmos Labs merged the fix in May without telling network operators which vulnerability it addressed.

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The assessment later proved incorrect after independent researchers established in early August that the bug affected all Cosmos EVM chains. Cosmos Labs then obscured the fix to make reverse engineering more difficult and released patched versions at 7:01 p.m. ET on Aug. 19.

Release notes referred to “important” security fixes without describing the vulnerability. The first known attack began at 3:06 p.m. ET on Aug. 20, about 20 hours after the patched software became available.

Cosmos EVM flaw allowed attackers to drain large accounts

The vulnerability involved an integer underflow in Cosmos EVM, the ecosystem’s Ethereum-compatible framework built from the open-source Evmos codebase.

An attacker could first create an account containing locked tokens and delegate more tokens to a validator than the account was able to spend. Subtracting the delegated amount caused the balance to fall below zero, making the value wrap around to the maximum possible figure of 2^256-1 base units.

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The attacker could then use the inflated balance against another account. Sending the amount to a target pushed its recorded balance past the same numerical ceiling, causing an overflow that wrapped the value back down and left the attacker holding the target’s tokens.

No additional tokens were created through the process, according to Cosmos Labs, and total token supply remained effectively unchanged. MANTRA said the exploit changed its supply by only one base unit, the smallest divisible denomination of the token.

Cosmos Labs said attackers targeted accounts holding large balances, including burn addresses and multisignature wallets created when networks launched. Its advisory classified the flaw as critical and identified Cosmos EVM releases before v0.6.2 and v0.7.2 as vulnerable.

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The incident followed another security disclosure involving Cosmos software earlier this year. Crypto.news previously reported that a researcher had disclosed a CometBFT flaw in April that could cause nodes to stall during block synchronization. The CVSS 7.1 issue did not allow direct asset theft.

Networks had about 20 hours after the patch

Once independent researchers confirmed the Cosmos EVM flaw could affect production chains, Cosmos Labs prepared the security releases that went live on Aug. 19.

Network operators were not given a vulnerability-specific warning explaining what the upgrade fixed. MANTRA later said 20 hours was not enough to assess, build, test and coordinate a state-breaking upgrade across its 38 independent validators.

“Twenty hours was not a realistic window in which to assess, build, test and coordinate a state-breaking upgrade across 38 independent validators, particularly without a vulnerability-specific advisory,” MANTRA wrote in its post-mortem.

Another disclosure occurred before the first theft. At 3:16 a.m. ET on Aug. 20, a Push Chain developer publicly submitted a code change describing the vulnerability and its exploitation path. The filing credited the finding to an audit by security firm Hacken and listed versions considered vulnerable.

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The submission said no released version contained the fix, though its version table omitted v0.6.2 and v0.7.2, which Cosmos Labs had published roughly eight hours earlier.

Cosmos Labs described publication of an exact exploitation path by a downstream developer as “highly unusual” and said such disclosures can raise the risk that a vulnerability will be exploited.

MANTRA placed the public security finding 11 hours and 45 minutes before the attacker’s first probe. However, the attacker’s wallet had been funded almost four hours before the finding was filed.

“We state the timing as fact and draw no conclusion from it,” MANTRA said.

A withdrawal of 472.70 MANTRA from a customer account at a centralized exchange funded the gas fees used throughout the attack, according to the network.

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MANTRA lost $3.6 million before halting its chain

MANTRA suffered the largest publicly disclosed loss from the attacks, with 720.9 million MANTRA tokens then valued at about $3.6 million taken from two addresses.

One was the network’s burn address. The second was a dormant multisignature wallet left from an earlier incentive campaign.

No automated warning was generated when tokens first moved from the burn address because MANTRA’s monitoring systems treated the address as immovable and did not watch it for outgoing transactions.

The attack remained undetected for almost four hours, giving the attacker time to drain the dormant multisig wallet.

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MANTRA halted the network at 7:13 p.m. ET on Aug. 20. About 38 million stolen MANTRA remained frozen in the attacker’s wallet, but 94.7% of the stolen tokens had already been transferred to one centralized exchange deposit address through 15 transactions.

The chain remained unable to process transactions for roughly 30 hours. Crypto.news reported during the interruption that MANTRA halted transactions while engineering and security teams investigated the incident and exchanges suspended deposits and withdrawals.

Validators later deployed patched software and resumed block production without rolling back the chain or altering user balances. Version 8.4.0 included the Cosmos EVM security fix.

MANTRA had added native EVM support to its mainnet in September 2025 alongside CosmWasm compatibility, allowing Solidity applications and Cosmos-native smart contracts to operate on the network.

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No stolen MANTRA tokens had been recovered as of Aug. 28, according to the project.

Its circulating supply increased by about 720.9 million tokens because assets held in accounts previously classified as unspendable, including the burn address, became tradable after being moved by the attacker.

TAC and KiiChain were hit after MANTRA

The same method was used against TAC on Aug. 22, according to Cosmos Labs. Nearly 3 billion TAC were taken from the network’s staking pool.

TAC is designed to bring decentralized finance applications to TON and Telegram users. Around 1.2 billion of the stolen tokens were sold on BNB Chain for roughly $950,000.

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KiiChain was attacked that evening, losing approximately 148 million KII. About 64.6 million tokens were sold for roughly $1.6 million.

Cosmos Labs estimated that around 54% of the stolen KII remains recoverable onchain if the network is restored.

In its Aug. 23 technical post-mortem, KiiChain criticized how the vulnerability had been communicated to downstream networks. The project said Cosmos Labs did not provide advance notice, identify the release as security critical or initially tell affected chains to halt.

“A patch takes days to review, build, test and roll out across a validator set. A halt takes minutes,” KiiChain wrote. “The only measure that would have contained the risk immediately was a clear instruction to stop producing blocks, and that instruction came after the damage was done.”

Cosmos Labs recommended that vulnerable networks halt on Aug. 22, after MANTRA, TAC and KiiChain had already been hit.

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KiiChain disputed part of the technical assessment as well, saying three upstream defects were needed to carry out the exploit and that only the underflow had been publicly patched.

MANTRA reached a different conclusion after testing the fix against a working reproduction of the exploit. Its post-mortem described the underflow repair as “the control that closes this attack path.”

Cosmos Labs described two chained vulnerabilities but did not address KiiChain’s claim that another upstream defect remains unresolved.

Three other Cosmos EVM networks were attacked

Three further chains were exploited with the same method, though Cosmos Labs did not identify them in its report.

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Nesa may have been one of the affected networks. Bitvavo suspended NES deposits and withdrawals on Aug. 24, citing a critical consensus vulnerability that had been exploited to make vulnerable nodes accept invalid blocks.

Blockchain analytics firm Bubblemaps identified Nesa as one of the affected chains in an Aug. 26 analysis. The firm said an attacker bought about $250,000 worth of NES, bridged it to Nesa, used the flaw to increase the balance about 200-fold and transferred roughly $50 million in NES back to Ethereum.

Most attempted swaps suffered extreme slippage as liquidity was removed from trading pools, leaving the attacker with about $60,000 in profit, according to Bubblemaps.

The wallet had originally been funded through Monero. Bubblemaps said differences in the funding method and the attacker’s behavior meant a separate party may have been responsible for the Nesa exploit.

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The remaining two affected chains have not been publicly identified.

Cosmos Labs said it coordinated with 40 networks during its response and worked with 13 others to patch the vulnerability or halt before they were attacked.

The firm said it does not maintain a complete registry of the more than 115 public blockchains operating across the Cosmos ecosystem. Its response uncovered 11 Cosmos EVM deployments that had not previously been registered with the team.

MANTRA, meanwhile, is being acquired by existing backer Inveniam Capital Partners, which had made a $20 million strategic investment in the project in August 2025. The transaction is expected to close in the third quarter of 2026, with MANTRA Chain, its token and related infrastructure set to continue operating under Inveniam’s ownership.

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Zoomex Puts Precision Trading Within Reach with Specialized 1000x Leverage Futures Contracts

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Zoomex Puts Precision Trading Within Reach with Specialized 1000x Leverage Futures Contracts

Zoomex, the global crypto derivatives exchange built for traders who value speed and control, is spotlighting one of its most distinctive offerings: specialized futures contracts with leverage of up to 1000x. Available on select major trading pairs, this high-leverage tier gives experienced traders a way to size positions with exceptional capital efficiency, while staying inside a rule-based execution framework designed to keep the playing field fair for everyone who opens a position.

Zoomex has built its infrastructure specifically to support extreme leverage on the pairs where liquidity and price stability make it viable, starting with flagship assets like BTC and ETH, and now extending to a growing list of instruments. The result is a derivatives environment that stays genuinely Focused on Derivatives, rather than treating high-leverage futures as an afterthought bolted onto a spot-first platform.

What the 1000x Futures Tier Actually Offers

The mechanics are straightforward by design. Traders select a trading pair, choose a margin amount, and dial in their preferred leverage, up to 1000x on eligible contracts, before opening a long or short position. Because the tier sits inside Zoomex’s dedicated futures interface, position management tools like take-profit and stop-loss orders, real-time margin tracking, and active-position monitoring are all available from the same screen, without needing to jump between separate trading environments.

Source: Zoomex

This matters more than it might first appear. Extreme leverage compresses the distance between a winning trade and a liquidation event, so the quality of the surrounding tools, clear margin visibility, responsive order execution, dependable uptime, becomes just as important as the leverage figure itself. Zoomex’s approach treats the 1000x tier as a complete trading environment, not a headline number sitting on top of a generic order book.

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Fair Access & Rule-Based Execution at the Core

High leverage only works if the exchange behind it can be trusted to execute consistently, especially during volatile moves when slippage and order-matching speed matter most. Zoomex sources liquidity from major market venues and routes orders through a matching engine designed to treat every trader, from a first-time futures user to a high-volume desk, under the same rule set. There is no tiered advantage for size or tenure on the platform; execution logic applies uniformly, which is precisely what Fair Access & Rule-Based Execution is meant to guarantee.

That consistency is also what allows Zoomex to responsibly offer leverage at this scale in the first place. Extreme leverage products expose weaknesses in matching engines and risk systems quickly, so the exchange has invested in multi-signature custody, two-factor authentication on withdrawals, and independent third-party security audits to support the infrastructure sitting underneath the trading layer.

A Growing List of Eligible Markets

The 1000x tier is not static. Zoomex has continued to widen the set of instruments eligible for its highest leverage bracket, most recently extending coverage into equity-linked assets tied to the artificial intelligence and semiconductor sectors, markets where trader demand for high-conviction, high-leverage exposure has grown alongside the broader AI investment narrative. That expansion sits alongside Zoomex’s existing Stock Perpetuals lineup, reflecting a broader strategy: bring the leverage and execution standards traders already associate with crypto derivatives to a wider range of asset classes, without diluting the standards that apply to any single one.

For traders, that means the same account, the same margin logic, and the same Transparent by Design fee structure whether the position is a BTC/USDT perpetual or a leveraged contract tracking a semiconductor stock. Nothing about eligibility, margin requirements, or execution priority changes based on which asset class a trader is engaging with.

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Transparent by Design, From Fees to Risk Disclosure

Extreme leverage carries extreme risk, and Zoomex does not obscure that trade-off. Fee schedules for maker and taker orders are published and consistent, margin requirements are visible before a position is opened, and liquidation thresholds are calculated using the same logic across every account tier. New users stepping into the 1000x tier for the first time are also encouraged to start with materially lower leverage while they familiarize themselves with how quickly margin can move against a position, a recommendation built directly into Zoomex’s own trading guides, not just a disclaimer buried in the terms of service.

This is what Transparent by Design looks like in practice: not a marketing phrase, but a commitment that shows up in how the product is documented, priced, and explained to the people actually placing trades.

Easy to Use, Even at the Extreme End of the Risk Curve

Sophisticated leverage doesn’t have to come with a complicated interface. Zoomex’s futures workspace keeps the essential controls, pair selection, margin input, leverage slider, and order type, in one continuous flow, so traders can move from analysis to execution without friction. Active positions, available balance, and risk parameters remain visible throughout, which matters most exactly when markets are moving fastest and traders have the least time to hunt through menus.

That same simplicity extends to closing or adjusting a position. A single click from the active positions panel is enough to exit a trade, and stop-loss or take-profit levels can be set or modified without leaving the position view. The goal is a platform where the complexity lives in the risk itself, not in the process of managing it, keeping the experience genuinely Easy to Use regardless of how experienced the trader is.

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A Refined Brand & Trading Experience Built Around Serious Traders

Zoomex’s identity has increasingly been shaped by high-visibility partnerships, from its association with the TGR Haas F1 Team to sports and entertainment activations that put the brand in front of a global, sports-literate audience. But underneath the branding sits a platform built specifically for traders who want derivatives depth, not a simplified, watered-down futures product tacked onto a spot exchange. The 1000x leverage tier is one of the clearest expressions of that positioning: a feature built for traders who understand exactly what they’re signing up for and want an exchange capable of supporting that level of conviction.

That combination, recognizable brand presence paired with serious trading infrastructure is central to what makes Zoomex’s Refined Brand & Trading Experience.

Trading Responsibly at 1000x

Zoomex is direct about the risk profile of its highest-leverage products, at 1000x, even small price movements can move a position significantly, and liquidation can happen quickly without active risk management. Traders using this tier are encouraged to rely on stop-loss orders, size positions conservatively relative to total account balance, and treat the 1000x bracket as a tool for specific, high-conviction setups rather than a default trading mode. Zoomex’s own trading guides reinforce this point directly, recommending that newer users begin with lower leverage before scaling into higher brackets as they build familiarity with how margin behaves under extreme conditions.

About Zoomex

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Founded in 2021, Zoomex is a global cryptocurrency trading platform focused on derivatives trading. The platform serves over 3 million users across 35+ countries and regions, offering access to 700+ trading pairs. Built around easy to use, transparency, fairness, and speed, Zoomex provides a clear and efficient trading experience for users worldwide.

Through its high-performance matching engine, clear asset and order displays, and transparent fee and rule mechanisms, Zoomex helps users better understand their account status, order execution, trading costs, and results. Zoomex maintains registrations, licenses, and regulatory statuses across multiple jurisdictions, including the U.S. MSB, Canada MSB, U.S. NFA, and Australia AUSTRAC, and has completed security audits conducted by blockchain security firm Hacken. The platform also continues to strengthen its trust framework through Proof of Reserves, Security & Transparency, Compliance Information, and Fees / Rules Transparency initiatives.

Beyond trading, Zoomex builds a refined brand experience through elite sports partnerships, including the TGR Haas F1 Team, World Cup-winning goalkeeper Emiliano Martínez, and world-class tennis events such as Wimbledon. The values of speed, precision, discipline, fair play, and rule-based execution are closely aligned with Zoomex’s approach to derivatives trading.

At Zoomex: Easy to Use. Transparent balance. Fair access to your earnings.

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Frequently Asked Questions

What is Zoomex?

Zoomex is a global crypto derivatives platform founded in 2021, serving over 3 million users across more than 35 countries and regions with 700+ trading pairs.

How does Zoomex work?

Zoomex operates through a high-performance matching engine with transparent asset and order displays, allowing users to execute trades and track outcomes with full visibility into their balances and results.

What can you trade on Zoomex?

Zoomex offers 700+ trading pairs spanning cryptocurrencies such as BTC, ETH, and SOL, as well as stock-linked contracts like NVDA and AAPL and gold exposure through XAUT.

Where is Zoomex headquartered?

Zoomex operates as a global cryptocurrency exchange with regulatory registrations including Canada MSB, U.S. MSB, U.S. NFA, and Australia AUSTRAC, reflecting its multi-jurisdictional compliance approach.

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Is Zoomex available in my country?

Zoomex serves users across more than 35 countries and regions. Availability can vary by local regulation, so traders should check the official Zoomex website for country-specific access and requirements.

The post Zoomex Puts Precision Trading Within Reach with Specialized 1000x Leverage Futures Contracts appeared first on BeInCrypto.

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Crypto token buybacks hit record $638M in 2026

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Is a crypto token actually cheap?

Crypto projects spent approximately $638 million repurchasing their native tokens between January and Aug. 31, according to Allium Labs figures cited by the Financial Times.

Summary

  • Crypto projects spent $638 million on token buybacks this year, exceeding last year’s comparable total.
  • Hyperliquid and Pump.fun represented nearly 90% of tracked repurchases, according to Allium Labs data overall.
  • Hyperliquid directs 99% of eligible trading fees toward automated HYPE purchases and permanent token burns.
  • Sky spent $26 million on 2026 repurchases, while its cumulative program remains considerably larger overall.
  • Lido’s proposed framework activates buybacks only above revenue thresholds and limits annual purchases to $10 million.

The total increased 17% from the $545 million recorded during the corresponding period in 2025. Projects spent only $366,000 across all of 2024, showing how quickly revenue-funded token repurchases have become part of decentralized finance.

Hyperliquid and Pump.fun accounted for nearly 90% of the 2026 total. Their dominance means the broader increase does not represent uniform adoption across the crypto market.

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The annual figure also differs from cumulative buyback totals. Hyperliquid’s reported $1.3 billion covers purchases since its late-2024 launch, while the $638 million figure counts buybacks completed during 2026 by multiple projects.

Hyperliquid dominates crypto token buybacks

Hyperliquid operates the largest revenue-funded repurchase program included in the dataset. The derivatives platform routes 99% of eligible trading fees to its Assistance Fund, according to its protocol documentation.

The system converts trading fees into HYPE through automated purchases executed as part of Hyperliquid’s layer-1 operations. Purchased tokens are then burned, permanently removing them from supply.

Hyperliquid has reportedly bought and cancelled about $1.3 billion in HYPE since launching in December 2024. That cumulative number should not be added to the $638 million annual total because the two figures cover different measurement periods.

HYPE traded near $63.35 on Aug. 31. The token had gained approximately 70% over the previous year, according to the Financial Times. Buybacks may have supported demand, but they cannot be isolated from trading growth, user activity and broader market sentiment.

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An earlier examination of Hyperliquid’s automated fee-funded repurchase system found that the Assistance Fund had accumulated roughly 28.5 million HYPE by May. The analysis placed its annualized buyback rate near 7% of market capitalization at the prevailing revenue level.

Pump.fun supplies the second major buyback engine

Pump.fun uses revenue from its token launchpad, PumpSwap exchange and trading products to purchase PUMP. Its current mechanism commits 50% of designated revenue to token buybacks and burns through a locked smart contract.

During the week ending Aug. 9, the platform spent approximately $5.02 million buying and burning 2.15 billion PUMP. Its cumulative program had offset an estimated 15.7% of the token’s original supply by that point.

The purchases have continued alongside scheduled token releases. In July, Pump.fun distributed $86.49 million in vested PUMP to 121 team and investor wallets. Buybacks reduce supply, while unlocks make previously restricted tokens transferable. The two forces therefore work in opposite directions.

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PUMP traded near $0.0015 on Aug. 31. Its performance shows why repurchases should not be treated as guaranteed price support. Platform revenue, token unlocks, investor confidence and demand can outweigh the buying program.

Sky and Lido follow different models

Sky Protocol bought approximately $26 million of SKY during 2026, according to Allium’s annual dataset. Its cumulative buyback spending is considerably higher because the Smart Burn Engine began operating before this year.

Sky’s official dashboard describes the mechanism as an onchain system that uses protocol surplus to purchase SKY from the open market. Governance reduced the buyback rate in March by lowering individual purchase sizes and lengthening the interval between transactions.

Sky also says staking rewards are financed through open-market purchases rather than new token issuance. That structure connects protocol surplus with token demand without increasing SKY’s maximum supply.

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Lido’s proposed NEST framework is more conditional. Buybacks would activate when annualized revenue exceeds $40 million. The original proposal also required ETH to trade above $3,000, although later discussions considered disabling that separate price floor.

The framework would allocate 50% of staking revenue above the $40 million baseline to LDO purchases. It includes a $50,000 daily limit and a $10 million rolling 12-month cap. These are governance parameters rather than guaranteed spending commitments.

Buybacks cannot guarantee higher token prices

Token buybacks create a recurring buyer and can reduce circulating supply when purchased assets are burned. Unlike corporate shares, however, governance tokens do not necessarily provide ownership, dividends or legal claims over protocol assets.

The effects also depend on execution. Tokens held in a treasury may eventually return to circulation, while permanently burned tokens cannot. Projects may change or discontinue discretionary programs through governance decisions.

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Recent results have been mixed. Hyperliquid has combined strong revenue with positive HYPE performance, while several other tokens remained under pressure despite recurring purchases. Crypto analyst Ansem previously argued that buybacks cannot overcome weak community alignment or declining demand.

The next test is whether fee revenue remains strong enough to fund purchases during weaker trading periods. Investors should also track whether repurchased tokens are burned, held or redistributed and compare annual purchases with new emissions and insider unlocks.

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