Crypto World
Wall Street’s newest short desk is a blockchain
When SpaceX went public, the only place most of the world could short it was Hyperliquid, where a perpetual future tracked the IPO of the decade tick for tick, and a whale ran a $14 million leveraged short no brokerage would have offered. Equity perps are the first crypto product Wall Street cannot ignore, and regulators cannot place, and this is the audit of what they actually are.
Summary
- Hyperliquid, the dominant on-chain derivatives venue with roughly 70% of decentralized perpetuals volume and around $1.3 billion in annualized fees, now lists perpetual futures on stocks, with its SpaceX contract as the breakout case.
- The SPCX perp traded the IPO of the decade before, during, and after the listing, ran to a $228.74 high alongside the stock’s $225.64 peak, tracked its 48% collapse, and hosted positions like a 10x-leveraged $14 million short paired with a 40x $60 million Bitcoin short, structures no retail brokerage offers.
- Equity perps deliver what the equity market rations: 24/7 trading, high leverage, short exposure without locates or borrow fees, and access for the global majority locked out of US brokerage accounts, all against an oracle price and a funding rate instead of shares.
- The product’s honesty requires its limits: holders own no equity, no dividend, no claim, only a synthetic exposure whose integrity depends on oracle quality and venue solvency, on platforms mostly outside US jurisdiction.
- The regulatory placement is unresolved by design: synthetic equity exposure with no share changing hands sits between the SEC’s securities world and the CFTC’s derivatives world, on infrastructure neither reaches, and the CLARITY-era jurisdiction map does not cover it.
The most interesting trade of June was not in a stock. When SpaceX completed the largest IPO in history and its shares began their 48% descent, an anonymous trader on Hyperliquid, the blockchain derivatives venue, was running a combined position no prime broker would have blessed and no retail app could have executed: a $60 million Bitcoin short at 40x leverage paired with a $14 million short on SPCX at 10x, a pure bet on the deflation of the year’s twin euphorias, placed on rails that never close, require no borrow, and asked no questions.
The instrument making it possible, the equity perpetual future, is the crypto industry’s quiet invasion of the stock market: a synthetic contract that tracks a share price via oracle, settles in stablecoins, charges longs or shorts a funding rate to keep the peg, and trades around the clock at leverage American brokerages reserve for institutions, on venues most of the world can reach with a wallet.
Hyperliquid’s SPCX contract, born before the IPO priced and still trading through the stock’s every convulsion, is the product’s proof of concept and its perfect case study, and this piece uses it as one: what equity perps actually are, what they genuinely fix, what they quietly are not, and why the regulatory map, freshly redrawn for crypto by the CLARITY era, has no square for them at all.
The machine: how a stock trades without shares
An equity perpetual is three mechanisms in a trench coat, and each deserves one honest paragraph.
The first is the oracle. No share of SpaceX exists anywhere in the system; the contract’s reference is a price feed, assembled from the listed market’s data during exchange hours and from the perp’s own supply and demand when Nasdaq sleeps. This is the design’s power and its softest point in one: the feed makes the synthetic possible, and every question about the product’s integrity is ultimately a question about the feed, its sources, its manipulation resistance, its behavior when the underlying halts, gaps, or, as with SPCX in its lockup-shadowed churn, moves violently on thin news.
Perp venues have run oracle machinery for crypto assets for years at scale; equities add wrinkles crypto never had, official closes, halts, corporate actions, and the young history of equity perps includes the learning curve those wrinkles imply.
The second is the funding rate, the elegant trick that replaces ownership. Because nothing forces a perp’s price toward the stock’s, the contract pays a periodic transfer between longs and shorts; whichever side is heavier pays the other, so deviation from the reference price becomes expensive and arbitrage pulls the peg tight.
The funding rate is also the product’s honest price tag: holding a leveraged equity view costs whatever the crowd on your side must pay, which in euphoric stretches, SPCX’s first week, say, made long exposure meaningfully expensive, a cost structure entirely unlike owning shares and closer to a rolling options position. Traders who read funding as information, crowding, sentiment, squeeze risk, get a signal equity markets deliver only obliquely.
The third is the venue itself. On Hyperliquid, order book, matching, and liquidations run on-chain, collateral is stablecoin, and the exchange’s economics, roughly $1.3 billion in annualized fees at about 70% of the on-chain perps market, fund the token model this publication has covered as crypto’s clearest value-accrual machine. Equity perps arrived through the venue’s expansion of builder-deployed markets, the mechanism opening listings beyond crypto pairs, and the roster now reaches into stocks, indices, and commodities.
The plumbing matters because it defines the counterparty question: an equity perp holder’s real exposures are the oracle, the liquidation engine, and the venue’s solvency, not any transfer agent or clearinghouse, and those exposures live, for most such venues, offshore and on-chain, exactly where the traditional system’s guarantees do not.
What it fixes, honestly
The bull case for equity perps is not hype; it is a list of the equity market’s genuine rationing decisions, each of which the perp un-rations.
Time: stocks trade 32.5 hours a week; the news that moves them does not. The SPCX perp priced Starship’s failed test, the Cursor-acquisition backlash, and every lockup rumor in real time, weekends included, while shareholders waited for Monday.
For an asset class whose defining events, launches, in this case, literally happen at all hours, continuous price discovery is not a gimmick, and the perp’s around-the-clock tape has already become, for SpaceX watchers, the leading indicator the listed market opens to.
Access: a US brokerage account requires US residency, documentation, and, for anything beyond cash equities, suitability gates; the global majority is structurally excluded from the market that prices the world’s most important companies. A perp venue asks for a wallet.
Whatever one thinks of the compliance implications, and they are the final section’s subject, the distributional fact is real: equity perps are the first instrument through which a trader in Lagos or Karachi shorts an American IPO on the same terms as a fund in Connecticut.
Shorting: the equity market’s short path, locate the borrow, pay the fee, face the recall, buy-in risk, and, for a fresh IPO like SPCX with its 911.5 million share lockup, borrow scarcity that makes shorting practically institutional-only, is friction by design. The perp deletes all of it: shorting is symmetric with longing, no locate, no borrow, no recall, which is why the instrument’s clearest use case so far is exactly the whale trade this piece opened with, and why fresh IPOs, where the listed short is hardest, and opinion is hottest, are where equity perps found product-market fit first.
Our own coverage of SPCX’s descent noted the perp and the tokenized versions tracking the collapse in lockstep with the stock, a three-venue price war in which the crypto rails, not the exchange, offered the only practical retail short.
Leverage and capital efficiency complete the list; 10x on a stock position with stablecoin collateral is a different capital regime than Reg-T margin, and together the four fixes explain the product’s trajectory better than any narrative: equity perps grow wherever the traditional market’s rationing binds hardest.
What it is not, and where it cannot be placed
The audit’s other half is shorter and sharper, because the perp’s limits are as structural as its fixes.
It is not equity. No dividend, no vote, no claim in bankruptcy, no share: the holder owns a cash-settled bet on a number, and the number’s connection to the company runs entirely through the oracle.
In calm markets the distinction is pedantic; in the scenarios that define instruments, a halt, a delisting, a corporate action, an oracle failure, a venue insolvency, it is everything, and the young product’s stress record is thin precisely where equities generate their worst stresses.
The tokenized-equity reckoning this publication audited after the SpaceX IPO, products scrapped, buyers refunded, late vintages underwater, is the adjacent cautionary tale: synthetic exposure to private and newly public equity is exactly where the gap between marketing and mechanism has already cost real money.
And it is not placeable, yet, on any regulatory map. A perpetual future on a security, offered without the security, settles into a jurisdictional void the American system has spent two years mapping everything except: the SEC governs securities and the platforms that touch them; the CFTC governs derivatives on commodities; the CLARITY framework, whose implementation this publication has covered in detail, allocates digital assets between them, and a synthetic stock position on an offshore chain answers to neither cleanly.
US platforms do not offer equity perps for precisely this reason; offshore and on-chain venues offer them to everyone else, and the enforcement perimeter, as with every offshore derivatives wave before, reaches the marketing, the fiat ramps, and the US-person access, not the protocol.
The honest forecast is the one the product’s own growth writes: volumes concentrating offshore, a widening data gap between the priced world and the regulated one, and eventually, once the instrument prices something systemic, a jurisdictional fight that will make the prediction-market war look tidy, because at least an event contract admits what it is. An equity perp is a security’s price without the security, the purest regulatory-arbitrage instrument crypto has produced, and the system it arbitrages has not yet noticed the size of the hole.
The venue underneath: why this happened on Hyperliquid
The product’s story is inseparable from its venue, because equity perps did not emerge on a neutral substrate; they emerged on the one platform whose economics and architecture made them almost inevitable, and the causation teaches something about where crypto’s product frontier actually lives.
Hyperliquid’s qualifications are three. Liquidity first: at roughly 70% of on-chain perpetuals volume, with open interest and depth that dwarf its decentralized rivals, it is the only venue where a $14 million single-position equity short meets a book that can absorb it, and derivatives listings live or die on day-one depth.
Machinery second: a fully on-chain order book, matching engine, and liquidation system, hardened by years of crypto perps at scale, generalizes to any oracle-priced underlying, which is precisely what the builder-deployed markets mechanism formalized, opening the listing function beyond the core team and letting the equity roster grow at ecosystem speed rather than committee speed.
And incentives third: the venue’s fee engine, the roughly $1.3 billion annualized flow whose token mechanics this publication has covered as crypto’s most direct value-accrual machine, means every new asset class listed compounds the platform’s core loop, giving the ecosystem a structural hunger for exactly the kind of frontier products that traditional venues must clear through legal departments first. Where a regulated exchange asks whether it may list synthetic SpaceX, a permissionless listing mechanism asks only whether anyone will trade it, and the answer, June showed, was emphatic.
The concentration cuts both ways, and the audit owes the caveat. A product category living overwhelmingly on one venue inherits that venue’s specific risks: its oracle choices become the category’s oracle standard, its solvency becomes the category’s systemic question, and its governance, including the validator-set concentration questions that have followed the platform since launch, becomes the category’s political exposure.
Traditional equity infrastructure disperses these risks across exchanges, clearinghouses, and transfer agents by regulatory design; the equity-perp stack concentrates them by architectural choice, trading resilience for velocity. That trade has run in crypto’s favor for two years of calm-to-volatile markets. The scenario that would reprice it, a venue-level failure during an equity stress event, with synthetic positions on halted underlyings and no clearinghouse behind the book, is the category’s true tail, unpriced precisely because it is unprecedented, and anyone sizing positions in these instruments should price the venue before pricing the view.
What to watch
The roster’s growth. Which equities get perps next, and how fast listings follow retail heat. The pattern so far, fresh IPOs and locked-up names where shorting is hardest, is the tell for where the product’s edge actually lies, and the first perp on a halted or delisted name will write the stress-test chapter early.
Funding rates as the new sentiment tape. SPCX perp funding, and its successors’, is becoming the cleanest continuous read on positioning in names the options market covers only during business hours. Expect equity desks to start quoting it, quietly, the way they came to watch crypto funding.
The basis triangle. Perp versus listed stock versus tokenized versions: three prices for one exposure, on three legal architectures. Divergences in stress are where the instruments’ true differences surface, and the first sustained break will teach the market which venue leads and which merely follows.
The first US regulatory contact. An enforcement action, a no-action letter, or a CLARITY-era rulemaking that names synthetic equity exposure would end the placement void. Until then, the product grows in the gap, and the gap is the story.
One historical rhyme completes the audit, because the market has seen this movie’s structure before. Contracts for difference, CFDs, ran the same play against the equity market two decades ago: synthetic exposure, high leverage, no ownership, offered offshore to retail the regulated market rationed out, and they grew into a permanent, regulated, and repeatedly scandal-scarred fixture of European and Asian trading, banned outright for US retail to this day.
Equity perps are CFDs rebuilt on crypto rails, with three genuine upgrades: transparent on-chain positioning instead of dealer books, funding rates set by market balance instead of broker discretion, and self-custodied collateral instead of client-money accounts, and one genuine downgrade: the absence of any regulatory perimeter at all, even the imperfect one CFDs eventually accepted.
https://x.com/cryptodotnews/status/2066521860502683882
The CFD precedent predicts the arc: rapid offshore growth, a defining blowup that forces structure, then bifurcation into regulated products where allowed and gray markets where not. It also predicts the endgame nobody in crypto says aloud: the traditional exchanges, watching a parallel equity market price their listings around the clock, will eventually either extend their own hours, list their own perpetual-style products, or buy the venues, because that is what incumbents do to successful arbitrage.
The instrument’s deepest significance may be exactly that pressure: equity perps are the market’s demonstration that the 32.5-hour trading week is a policy choice, not a law of nature, and demonstrations of that kind have a way of ending with the incumbents adopting what they could not suppress.
Frequently Asked Questions
What is an equity perpetual future?
A derivative that tracks a stock’s price without any share existing in the system: an oracle feeds the reference price, traders post stablecoin collateral for leveraged long or short exposure, and a periodic funding-rate payment between longs and shorts keeps the contract’s price pegged to the stock’s. It trades continuously, including when the underlying market is closed, and settles in cash, never in shares.
Why did SpaceX’s perp become the breakout example?
Because it offered what the listed market could not. The SPCX contract traded through the IPO of the decade around the clock, tracked the stock from its $225.64 peak through its 48% collapse, and enabled short exposure, including a documented 10x, $14 million short paired with a 40x Bitcoin short, at a moment when the fresh IPO’s lockup made traditional borrowing scarce and practical shorting nearly impossible for retail.
What do equity perps genuinely improve on?
Four rationing decisions of the equity market: hours, with 24/7 trading against a 32.5-hour week; access, with a wallet replacing residency-gated brokerage accounts for the global majority; shorting, with no locates, borrow fees, or recall risk; and capital efficiency, with high leverage on stablecoin collateral. The product grows wherever these constraints bind hardest, which is why new IPOs led adoption.
What does a holder of an equity perp actually own?
A cash-settled position on a number, nothing more: no dividend, no vote, no bankruptcy claim, no share. The exposure’s integrity depends on the oracle’s accuracy, the venue’s liquidation engine, and the platform’s solvency, typically on offshore, on-chain infrastructure outside traditional investor protections. In halts, delistings, corporate actions, or oracle failures, the differences from equity ownership become decisive.
Who offers these products, and can US users trade them?
On-chain derivatives venues, with Hyperliquid, at roughly 70% of decentralized perpetuals volume and about $1.3 billion in annualized fees, as the category leader through its builder-deployed markets. US platforms do not list equity perps because of their unresolved legal status, and offshore venues restrict US persons formally; practical access, as with every offshore derivatives generation, varies with enforcement of the perimeter.
How do funding rates work, and why do traders watch them?
Whichever side of the contract is more crowded pays a periodic fee to the other, making deviation from the reference price costly and pulling the peg tight. The rate doubles as a sentiment gauge: expensive long funding signals crowded bullishness and squeeze risk, and because it prints continuously, it offers positioning information about a stock even while the listed market sleeps.
Where do equity perps sit legally?
In a void. They are synthetic exposure to securities offered without securities, on infrastructure the SEC does not reach, in a derivative form the CFTC’s commodity jurisdiction does not clearly cover, and the CLARITY-era framework allocating digital assets between the agencies does not address them. That placement question, unresolved and growing with the product’s volumes, is the category’s defining regulatory story.
Should traders use them?
That is an individual decision this article does not make. The honest framing: equity perps are powerful instruments whose advantages, hours, access, symmetric shorting, and leverage are real, and whose risks, oracle dependence, venue solvency, funding costs, legal ambiguity, and the absence of every traditional investor protection, are equally real and mostly unpriced until stress arrives. Position sizes that assume the venue is a brokerage misunderstand the instrument. This is educational analysis, not investment advice.
Disclaimer: This article is for information and educational purposes only and does not constitute financial or investment advice. Derivatives trading with leverage carries substantial risk of loss; products described may be unavailable or restricted in your jurisdiction, and figures reflect data available at the time of writing. Nothing here is a recommendation to trade any instrument. Always do your own research. Information is accurate as of July 24, 2026.
Binance Coin is among the top performers in the past 24 hours in the altcoin space, surging by over 6% and further extending its lead above XRP in terms of market cap placement.
This impressive rally on a rather dull Saturday after the Friday market rejection came following some positive news from Kalshi and the overall growth of the BNB Chain.
BNB Pops
The native token of the broader Binance ecosystem traded at $725 yesterday amid the market-wide revival that drove BTC to $82,400. However, the subsequent retracement prompted by the strong US jobs report pushed it south to $710. The asset found solid support there and exploded out of the gate, surging to $770 minutes ago for the first time since early February.
This Saturday’s rally is quite unexpected since most of the market is still in the red following yesterday’s bad news for risk-on assets. As such, the reason for BNB’s defiance is likely coming from outside factors, such as Kalshi’s move to launch perpetual futures contracts for the asset in the US, regulated by the Commodity and Futures Trading Commission.
Leverage is capped at around 4.5x for eligible US traders and comes after the platform added support for other altcoins such as ADA, AAVE, WLD, and VVV. Kalshi also supports BNB Smart Chain (BSC) integrations for managing deposits and withdrawals on international accounts.
BNB Chain Growth
The other probable reason comes from a Grayscale report cited by Wu Blockchain. As explained, BNB Chain is among the most widely used networks for trading tokenized equities.
The paper reveals that the weekly spot volume peaked at almost $3 billion in August, while only 5% of the market is currently deployed in on-chain finance. Robinhood Chain leads the pack, followed by BNB Chain and Solana.
Grayscale explained that further US regulatory clarity could “expand tokenized stocks from global, around-the-clock trading products into productive on-chain financial assets.”
Grayscale: Tokenized Equity Weekly Spot Volume Nears $3B, Only 5% Used in Onchain Finance
Grayscale said tokenized equity trading reached record highs in August, with weekly spot volume peaking near $3 billion, while only about 5% of the market is currently deployed in onchain… pic.twitter.com/ZcVA72DYTX
— Wu Blockchain (@WuBlockchain) September 4, 2026
The post BNB Hits 7-Month High After Major Kalshi Move and Explosive Chain Growth appeared first on CryptoPotato.
Changpeng Zhao expects the bets YZi Labs made over the past few months to become its best performers. The Binance founder credits the timing, because the firm invested while crypto prices sat near their lows.
His optimism is directly tied to the deployment of his private billions. In fact, YZi Labs is the family office that manages his personal wealth.
Why CZ Thinks His Firm’s Timing Works
His comment sat on top of a summary of an August 28 book club session in Hong Kong. Zhao told the audience that money rushing into artificial intelligence (AI) is filtering out short-term crypto teams.
He has also argued that AI money rotating back into digital assets is already underway.
The winter framing has support. Bitcoin had fallen 47% from its peak by early June, a slide that fueled a coldest crypto winter debate. Prices have since clawed back ground, yet they remain far under the October high.
What YZi Labs Has Backed This Year
YZi Labs runs more than $10 billion for Zhao and Binance co-founder Yi He. It grew out of Binance Labs, the exchange’s former venture arm, and now invests independently. Its 2026 deals stretch well past crypto, into robotics, AI payments, and custody.
The biggest disclosed check went to robotics. YZi Labs led a $52 million round in RoboForce in March, a company building physical AI systems. It also bought into digital asset custodian BitGo before the January NYSE listing.
Smaller bets followed. In April, the firm added to its position in prediction market Predict.fun alongside Susquehanna Crypto. It then led an $8 million pre-seed round for the payments protocol AEON in May, and it backed the fixed-rate lender TermMax in August.
Zhao published no returns data, however. The claim therefore stays untested. Meanwhile, YZi Labs spent much of the year fighting for control of BNB treasury firm CEA Industries. A director resigned in March, and both sides reached a settlement in June.
Bitcoin’s next leg will decide whether the timing looks smart. Zhao has separately said that a $1 million bitcoin could arrive sooner than most expect. Current Bitcoin price levels leave him a long way from that mark.
The post CZ Says These 7 Crypto Investments from YZi Labs Will Perform Best appeared first on BeInCrypto.
XRP is drawing renewed attention as its chart structure closely mirrors a formation seen in 2024, just before a sharp upward move.
Analysts tracking the altcoin note that the current setup echoes the sequence that preceded that earlier 650% advance.
Why This XRP Setup Looks Familiar to Chart Watchers
At the time of writing, XRP trades near $1.40, up roughly 35% in a month. The token sits well below its 2025 peak near $3.65 but has rebounded from levels below $1.00 earlier this summer.
One technical view, shared by analysts, highlights that XRP has repeated the same pattern observed in 2024 immediately ahead of that rally. The token is outlining a sequence progressing from the $1.10 to $1.00 zone through successive targets at $1.30, $1.90, $2.80 and $3.40.
The analysis frames this as a potential roadmap rather than a guarantee.
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Additional bullish projections draw on Fibonacci levels. One analysis, from trader CW8900, notes that a recent correction bottomed near the 0.5 retracement and that price has since cleared the 0.618 level, with the next extension target cited near $2.13 at the 1.618 Fibonacci level.
The On-Chain Data and the Skeptics
Supporting data from on-chain metrics adds important context:
- Spot trading volume for XRP reached a six-month high in August 2026, with Binance alone recording more than $7.26 billion, while Upbit and Bithumb also showed elevated activity.
- Roughly 500 million XRP left Binance during the same period, pushing monthly average reserves on the exchange down to levels last seen in early 2024.
Analysts interpret the outflow as a longer-term positive signal, consistent with accumulation in self-custody or demand for spot ETF products launched in late 2025.
The dynamic is viewed as more relevant over extended horizons than for immediate price action.
Not every outlook agrees, however. A more cautious reading from other analysts describes XRP as remaining inside a corrective pullback within the $1.10 to $1.38 support zone. In this view:
- The latest bounce still appears as a three-wave structure.
- No confirmed low has been established yet.
- The current recovery looks more like an incomplete recovery than the start of a sustained advance.
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The combination of a repeating technical pattern, elevated spot volume, declining exchange reserves, and mixed short-term structures creates a genuinely contested setup.
Historical pattern recognition can highlight possibilities, yet market conditions, broader crypto sentiment, and macroeconomic factors continue to shape actual outcomes.
Whether the 2024-style sequence reappears will depend on sustained buying interest and XRP’s ability to hold key levels in the weeks ahead.
The post XRP Price Shows the Same Pattern That Sparked a 650% Rally appeared first on BeInCrypto.
Crypto World
Cardano Founder Warns Trump-Linked Crypto Executives May Come Under Scrutiny After Midterms
Cardano founder Charles Hoskinson has warned that crypto executives closely associated with the Trump administration could face greater political scrutiny if Democrats make significant gains in the 2026 U.S. midterm elections.
Hoskinson made the comments after being questioned over his absence from a recent White House meeting attended by several prominent figures from the cryptocurrency industry. The gathering focused on digital asset policy and efforts to advance U.S. crypto legislation, including the CLARITY Act.
Key Takeaways
- Charles Hoskinson warned that some crypto executives could face investigations if Democrats gain power after the 2026 midterms.
- His comments followed criticism that the Cardano founder was not included in a recent White House crypto gathering.
- Ripple CEO Brad Garlinghouse and other major industry figures attended the meeting with Trump administration officials.
- President Donald Trump has continued to position the U.S. as a global center for financial innovation while his administration has moved to reverse policies that the crypto industry viewed as restrictive.
Hoskinson Responds to Criticism Over White House Absence
The controversy began after a user commented that Hoskinson appeared to have been left out of the White House gathering.
The comment followed a September 3 post from CFTC Chairman Mike Selig, who shared photographs from the meeting and highlighted the administration’s efforts to develop the digital asset industry in the United States.
Notably, the gathering brought together several prominent figures from the crypto and financial sectors, including Ripple CEO Brad Garlinghouse, Coinbase CEO Brian Armstrong, Robinhood CEO Vlad Tenev, Kraken co-CEO Arjun Sethi, Gemini co-founders Tyler and Cameron Winklevoss, and Chainlink co-founder Sergey Nazarov.
Hoskinson responded with a warning about what could happen if political control changes after the midterms.
“I’ll sit this one out and pick up the pieces after the Republicans get destroyed in the Midterms and half the people in that picture are being investigated by the newly empowered Democrats”
Crypto’s Relationship With Trump Remains Politically Significant
Hoskinson’s comments come as the cryptocurrency industry has developed a significantly closer relationship with the Trump administration.
Trump has repeatedly pledged to make the United States a leading destination for financial and digital asset innovation. His administration has also pursued policies intended to move away from what the industry viewed as aggressive regulatory pressure under the previous administration.
One notable area has been the administration’s response to Operation Choke Point 2.0, a term widely used by crypto companies and industry advocates to describe alleged efforts by financial regulators to discourage banks from providing services to digital asset businesses.
The Trump administration has positioned itself as opposing such restrictions and has said it wants to ensure financial institutions do not improperly deny access to banking services based on lawful business activities.
That policy direction has helped strengthen ties between Washington and major crypto companies.
Hoskinson Remains Critical of the CLARITY Act
Meanwhile, despite the industry’s closer relationship with the administration, Hoskinson has remained critical of parts of the Republican-led approach to crypto legislation.
The Cardano founder has repeatedly expressed concerns about the CLARITY Act and the political divisions surrounding digital asset regulation. He has argued that crypto should not become identified exclusively with one political party.
That concern is particularly relevant as several of the industry’s most recognizable executives have become increasingly visible alongside Republican officials.
Hoskinson has previously argued that political association could create problems for the broader industry if control of Congress changes.
Trump Continues to Promote Financial Innovation
The political divide comes as Trump continues to promote the United States as a hub for financial innovation.
In May, the White House announced measures aimed at strengthening the financial system while also emphasizing America’s role in financial innovation. The administration said its policies were intended to preserve U.S. leadership in emerging financial technologies.
The White House has also sought to reverse regulatory approaches that crypto advocates described as hostile to the industry, including policies associated with
In the high-speed environment of data center communications, switches and networking products do some serious heavy lifting, leading to massive contract wins for Arista Networks (ANET). Institutional money is following fast on the stock’s heels, with money managers picking up on the growth story at the networking gear maker. Shares on Aug. 5 jumped to an all-time high of 214.89…
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ARK Invest CEO Cathie Wood said most investors overlook the role LayerZero (ZRO) plays in cross-chain messaging, praising the team behind the interoperability protocol in a post on X.
Her post amplified an argument published two days earlier by Lorenzo Valente, ARK’s director of research for digital assets, who said LayerZero’s interoperability business alone will probably reach nine-figure annual recurring revenue (ARR).
Cathie Wood Says Investors Underrate LayerZero
Wood posted on Saturday that most investors “do not appreciate the important role” LayerZero plays in crypto messaging. She also singled out the founding team.
LayerZero relays verified messages between blockchains that cannot otherwise communicate. ARK counts more than 170 supported networks.
Valente made the original argument on Thursday. Messaging protocols turned into critical infrastructure as app-specific chains and rollups multiplied, he wrote. Demand grows further as tokenized real-world assets move on-chain.
The September 3 ARK paper behind Wood’s post puts scale behind the claim. Using data through June, it credits LayerZero with $280 billion in cumulative value transferred and 44% of cross-chain volume in the first half of 2026.
However, LayerZero does not own the category. Circle’s CCTP came second at 41%, and Chainlink pushes a similar cross-chain pitch through CCIP.
ZRO Holds a Monthly Gain Despite Friday’s Drop
Traders have not followed Cathie Wood in the short term. ZRO trades near $1.04, down about 6% on the day. Its market value stands at $368.7 million, ranking it 120th.
The monthly picture looks stronger. ZRO has added roughly 36% over the past month, most of it in a jump between August 21 and August 23.
That rebound started from a record low. ZRO bottomed at $0.71 on July 31 and still trades far below its December 2024 peak of $7.47.
Supply keeps the pressure on. Monthly ZRO token unlocks add to a circulating base near 353 million.
ARK is not a neutral observer either. The firm discloses financial interests in both LayerZero Labs and ZRO, so its research doubles as a position.
Meanwhile, Valente framed the revenue call as his own read, not a house forecast. Wood’s endorsement rests on that thesis. Part two of the ARK series may show whether the fees support it.
The post Cathie Wood Says Most Investors Do Not Appreciate This Critical Crypto Token appeared first on BeInCrypto.
Crypto World
Dow Jones Futures Fall, Techs Rise After Market Rally; Tesla Cybercab, Jobs Report In Focus
Dow Jones futures fell slightly early Friday, while S&P 500 futures were little changed and Nasdaq futures rose. The August jobs report is due before the open. Tesla stock fell after a private Cybercab event, while Samsara and Zscaler led overnight earnings movers. The stock market had a strong session, with the major indexes all moving above a key short-term…
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Samsara (IOT) stock popped Friday after the company reported fiscal second-quarter earnings and revenue that beat Wall Street’s targets while its October-quarter revenue guidance came in above views. The San Francisco-based company released its earnings report after the market close on Thursday. Samsara earnings rose 66% to 20 cents per share on an adjusted basis. Revenue for the operations platform…
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Crypto World
How to learn about the XRPPower intelligent automated trading solution and earn $1,000 in passive daily returns by holding XRP
Disclosure: This content is provided by a third party. Neither crypto.news nor the author of this article endorses any product mentioned on this page. Users should conduct their own research before taking any action related to the company.
With the continuous development of artificial intelligence and digital asset technology, more and more XRP holders are paying attention to automated trading and intelligent asset services. Rather than waiting for market price changes, some users hope to leverage AI data analysis and automated systems to understand and manage their digital assets more efficiently.
Summary
- XRPPower offers automated yield contracts supporting XRP, BTC, ETH, and USDT.
- Contract plans advertise daily returns based on the amount deposited and the selected duration.
- New users are offered a $21 bonus alongside two-level referral rewards of 3% and 2%.
- The platform claims to use AI monitoring and security measures, though users should independently verify these claims.
XRPPower combines intelligent data analysis, automated operation, and digital asset services to provide XRP users with a convenient digital service platform. Users can register an account to learn about relevant automation solutions, participation conditions, and service rules, and choose according to their own needs.
How do new users get started with XRPPower?
1. Create an account
Quickly register an XRPPower account using your email address. After completion, you can log in to the platform to learn about the intelligent system and related services.
2. Browse service solutions
View the different plans’ durations, participation conditions, rules, and related instructions, and choose the service that suits your needs.
3. Use supported digital assets
Depending on the platform’s currently supported methods, you can participate using digital assets such as XRP, BTC, ETH, and USDT. Please confirm the asset type, network, and specific rules before operating.
4. View account records
After participating in the service, you can log in to your account at any time to check your balance. Users can withdraw funds directly or continue to purchase yield contracts as needed.
Some popular yield contracts
Investment amount: $1000, investment period: 7 days, daily yield: $13.2, principal returned at maturity: $1000
Investment amount: $5000, investment period: 15 days, daily yield: $70.5, principal returned at maturity: $5000
Investment amount: $10000, investment period: 20 days, daily yield: $153, principal returned at maturity: $10000
Click to view all contract yields
How to earn long-term returns with zero investment
New users receive a $21 bonus upon registration, which can be used to purchase daily contracts, earning $0.60 per day.
Additional referral rewards
Log in to your account using your referral code or request a link to invite friends and family to join the XRPPower platform and earn permanent rewards of 3% + 2%.
Example Description:
(A) User A refers User B to make an additional investment; if B invests $10,000, A will receive a 3% ($300) reward.
(B) User B refers User C to make an additional investment; if C invests $10,000, B will receive a 3% ($300) reward, while A will receive a 2% ($200) second-level referral reward.
XRPPower intelligent technology system: integrating AI and automation to create a new digital service experience
Security management, building multi-layer protection
XRPPower improves security mechanisms at multiple levels, including account, data, and network, employing technologies such as SSL/TLS encryption, 2FA, multi-signature, cold and hot wallet management, and access control, and continuously optimizes account and system security management processes.
AI-powered intelligent analysis enhances system efficiency
The platform applies AI data analysis and automation technologies to system operation, continuously monitoring relevant data, account activity, and system status to help identify anomalies and improve operational efficiency. It also integrates DDoS protection, WAF, and other cybersecurity measures to further improve infrastructure.
Transparent information, clearer operations
XRPPower continuously optimizes the platform interface and account functions, clearly displaying service cycles, participation conditions, relevant rules, and account records, allowing users to easily query information and make informed decisions.
Continuous upgrades, exploring AI-powered digital services
AI is transforming the way services are delivered in the digital asset industry. XRPPower will continue to focus on the development of artificial intelligence, automation, cybersecurity, and digital infrastructure, continuously improving the platform’s security, efficiency, transparency, and convenience through technological iteration and process optimization.
In the future, XRPPower will continue to leverage technology to create a more intelligent, clear, and convenient digital service experience for users.
Learn more: https://xrppower.com/
Email: [email protected]
Disclosure: This content is provided by a third party. Neither crypto.news nor the author of this article endorses any product mentioned on this page. Users should conduct their own research before taking any action related to the company.
Crypto World
Bitcoin Rally Faces Profit-Taking Pressure as Short-Term Holders Deposit 467,000 BTC to Exchanges
Bitcoin’s latest recovery is encountering increased profit-taking activity as short-term holders have transferred approximately 467,000 BTC, worth about $35.4 billion, to exchanges since August 17.
The shift comes as Bitcoin recently tested the $82,000 level while institutional demand through spot ETFs remains strong.
Bitcoin climbed roughly 4% over the course of September 3–4 before pulling back. At the time of writing, the cryptocurrency was trading around $79,673, reflecting a 0.41% drop over the past 24 hours.
Key Takeaways
- Short-term holders have sent approximately 467,000 BTC worth $35.4 billion to exchanges since August 17.
- The share of profitable Bitcoin exchange inflows increased from 35% to 92% after August 20.
- Short-term holders are currently depositing around 27,500 BTC per day, about 29% above the previous three-month average.
- Bitcoin ETF demand remains a counterweight, with approximately $730 million flowing into spot Bitcoin ETFs during the latest trading session.
Bitcoin Tests $82,000 as Selling Activity Changes
Bitcoin’s recent move higher has brought the cryptocurrency back toward levels last seen earlier in the year. The asset tested $82,000 between September 3 and 4 before giving up part of the advance.
The move occurred alongside a significant increase in demand for U.S.-listed spot Bitcoin ETFs. The products attracted approximately $730 million during the previous trading session, according to the market data cited in recent coverage.
However, the on-chain picture suggests that the rally is also giving some investors an opportunity to lock in profits.
CryptoQuant said short-term holders have moved from a period of capitulation toward profit-taking as Bitcoin recovered from its recent weakness.
“Bitcoin Short-Term Holders (STH) flipped from Capitulation to Profit-Taking. Since August 17, Short-Term Holders sent ~467K BTC ($35.4B) to exchanges. The key shift: profitable coins now dominate these flows.”
The distinction is important because exchange deposits can reflect different market conditions depending on whether the coins are being transferred at a profit or a loss.
Profitable Exchange Inflows Rise Sharply
CryptoQuant’s data shows a substantial change in the profitability of Bitcoin entering exchanges.
When Bitcoin was trading below the short-term holder realized price, only around 35% of exchange inflows were in profit. Since August 20, that proportion has climbed to approximately 92%.
This suggests that the current wave of exchange transfers is being driven predominantly by holders who acquired Bitcoin at lower prices and are now sitting on unrealized gains.
The shift followed Bitcoin’s recovery above the short-term holder realized price of approximately $67,600. CryptoQuant said the cost basis for this group subsequently increased to around $70,600 within 15 days.
As newer market participants entered at progressively higher prices, their unrealized gains increased alongside Bitcoin’s recovery.
Daily Bitcoin Deposits Remain Above Average
The increase in profit-taking is also reflected in daily exchange activity.
CryptoQuant estimates that short-term holders are currently sending approximately 27,500 BTC to exchanges each day, representing around $2.2 billion based on the firm’s calculations.
That daily flow is approximately 29% higher than the previous three-month average, indicating that short-term holder activity has become more pronounced during the recovery.
Despite the elevated deposits, Bitcoin has continued to trade at higher levels. This suggests that demand has so far been sufficient to absorb much of the Bitcoin being transferred toward exchanges.
CryptoQuant also placed the short-term holder MVRV ratio at 1.15, meaning the average investor within this group has an estimated unrealized profit of about 15%. Historically, the firm has observed that readings above 1.19 have accompanied more durable rallies, while levels below 1.12 have tended to coincide with shorter-lived moves.
ETF Demand Provides a Counterweight
The increase in short-term holder selling is occurring alongside strong demand from spot Bitcoin ETFs.
The approximately $730 million recorded during the latest trading session represents a significant inflow and provides an important source of demand while other market participants are realizing gains.
This creates a contrasting flow pattern.
Short-term holders are moving profitable Bitcoin toward exchanges, potentially increasing available supply, while ETF investors are directing fresh capital into Bitcoin exposure.
The ability of demand to absorb these coins has so far allowed the market to maintain its recovery.
What to Watch Next as Profit-Taking Increases
The key question is whether Bitcoin can continue absorbing elevated exchange deposits if short-term holders maintain their current pace of profit-taking.
The latest CryptoQuant data does not establish that the rally has ended. Instead, it shows that the character of selling has changed from capitulation toward profit realization.
Investors will likely watch short-term holder exchange flows, the $70,600 realized-price level, and continued ETF demand for indications of how the balance between available supply and new buying develops.
CRYPTO: I Hope I Am Wrong… (warning)
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