Robinhood Chain has stopped producing blocks for more than 14 minutes, preventing the Ethereum layer-2 network from confirming token transfers and smart contract transactions.

Robinhood Chain stopped confirming transactions

Robinhood Chain block explorer data showed that the network stopped adding blocks at around 12:57 p.m. UTC on Sept. 4, leaving submitted transactions without confirmation for more than 14 minutes.

Transfers, smart contract calls, and router interactions could not move forward while the chain remained at the same block height. New transactions continued to appear in the explorer, but several stayed pending because the network was not producing blocks to process them.

News aggregator Aggr News was among the first to report the interruption on X.

Kalshi’s rapid expansion in the U.S. is showing up clearly in web-traffic data, even as the company’s core business—event and prediction contracts—continues to face mounting legal scrutiny. According to Similarweb estimates reviewed by Cointelegraph, Kalshi logged 15.4 million visits from the United States in July, a dramatic jump from just under 1 million in August 2025.

The U.S. share of Kalshi’s traffic also remains dominant. In July, U.S. visitors accounted for nearly 80% of all visits, up from 72.8% in August 2025—an indicator that Kalshi’s growth is heavily concentrated in one market even as it draws some interest from elsewhere.

Key takeaways

• Kalshi reported 15.4 million U.S. visits in July, up roughly 1,520% from just under 1 million in August 2025, according to Similarweb estimates reviewed by Cointelegraph.
• U.S. traffic made up nearly 80% of Kalshi’s visits in July, rising from 72.8% in August 2025, showing continued concentration in the United States.
• Notional trading volume grew even faster than traffic, reaching about $40 billion in August versus $874 million a year earlier, per Dune Analytics.
• Sports-related contracts represented the majority of Kalshi trading activity in July, with sports accounting for 83% of volume, Barron’s reported.
• Canada and the UK generated meaningful traffic increases despite member-agreement restrictions, Cointelegraph reports it did not receive comment from Kalshi.

Traffic spikes, but trading is scaling faster

Web traffic has accelerated alongside Kalshi’s broader rise in prediction-market activity, but the trading numbers suggest the platform is expanding more sharply in market participation than in simple interest. Dune Analytics’ prediction market dashboard indicates Kalshi reached roughly $40 billion in monthly notional trading volume in August, compared with $874 million a year earlier—an increase of about 4,500%.

That same period also saw volume grow across the wider prediction-market sector, with monthly notional volume rising to $50.7 billion from about $2 billion. Kalshi accounted for nearly 79% of that latest total, underscoring that its platform has become the center of gravity for the industry’s trading flows as activity expands.

The composition of those trades matters, too. Barron’s reported Thursday that sports contracts were responsible for 83% of Kalshi’s trading volume in July. That detail is especially relevant given the legal backdrop: the dispute over whether certain contracts are regulated under federal authorities versus state gambling frameworks has repeatedly focused on the nature of the underlying events and how they should be classified.

Legal pressure remains tied to sports event contracts

Kalshi’s growth is unfolding while regulators and courts argue over the boundaries of oversight for prediction markets. The company’s expansion has been followed by increasing legal attention to whether its sports contracts are subject to federal supervision or fall within state gambling restrictions.

Earlier, Cointelegraph highlighted the fact that New Jersey has taken the dispute to the U.S. Supreme Court. The timing of Kalshi’s traffic and trading surge—at a moment when the legal process is still actively shaping how the business can operate—adds a layer of risk management pressure for users and counterparties watching what regulatory outcome could change market access.

Restricted jurisdictions still generate growing interest

Kalshi’s growth outside the United States is more modest, but the data shows that additional regions are contributing more visits than a year earlier. Canada generated about 450,000 visits in July, up from roughly 50,000 in August 2025. The UK increased to 296,000 visits from 31,000 over the same period.

These increases are notable because Kalshi’s member agreement currently prohibits users in certain jurisdictions from directly accessing or trading on the platform. Cointelegraph points to Kalshi’s published terms, which include restrictions on direct access and trading for members in jurisdictions where participation is not permitted.

In Canada’s case, Kalshi has also pursued an access pathway through partnerships. The company partnered with Canadian financial services firm Wealthsimple in June to provide access to nearly 4,000 eligible Kalshi contracts via a separate app. That arrangement may help explain why visits from Canada and other regions can rise even when direct platform participation is restricted.

Still, the traffic mix shifted in ways that complicate any simple read of demand. From August 2025 to July 2026, Canada’s share of Kalshi traffic slipped to 2.3% from 3.8%, while the UK’s share fell to 1.5% from 2.4%—even as visits from both countries increased in absolute terms. In other words, the rest of Kalshi’s user base grew so quickly that Canada and the UK lost relative share, despite higher traffic levels.

Cointelegraph said it reached out to Kalshi for comment about the traffic patterns from restricted jurisdictions, but did not receive a response by publication.

What investors and users should watch next

Kalshi’s surge in both U.S. attention and notional trading volume suggests demand for prediction contracts is scaling quickly, particularly in sports-linked markets. The next key variable is whether the legal pressure around classification and regulatory authority produces operational constraints—or clarity—that could affect market access and how quickly growth in restricted or regulated categories can continue.

Pendle has launched its first yield-trading market on Robinhood Chain, giving sNET holders access to fixed and variable yield positions until the market matures on Sept. 17, 2026.

Pendle opens its first Robinhood Chain market

Pendle said in a Sep. 4 announcement that its protocol is now live on Robinhood Chain, adding fixed-yield products and yield trading to the network’s decentralized finance ecosystem.

The deployment begins with one sNET market scheduled to mature on Sept. 17. Pendle did not identify the assets planned for subsequent markets or provide a timetable for adding them, saying only that more products would arrive as the ecosystem develops.

Issued by NetNet Capital, sNET is the staked form of NET, a reserve-backed token native to Robinhood Chain. NetNet’s public materials describe the protocol as a reserve manager for NET, with a treasury containing assets that include the USDG stablecoin. Users who stake NET receive sNET and become eligible for distributions generated under the protocol’s staking model.

NetNet also uses bond sales to acquire assets for its treasury. Its model draws from reserve-backed token systems in which market participants exchange selected assets for discounted NET, while the protocol controls the deposited liquidity. NetNet has described USDG as one of the assets held in the treasury, although the value of NET and returns from sNET remain exposed to the protocol’s reserves, market structure and smart contracts.

Adding sNET to Pendle allows traders to separate the asset’s principal from the yield it may generate before Sept. 17. The structure turns a single yield-bearing position into components that users can trade according to their expectations for future returns.

How Pendle splits sNET principal and yield

According to Pendle’s documentation, the protocol wraps supported yield-bearing assets through its Standardized Yield format before dividing a position into Principal Tokens and Yield Tokens.

A Principal Token, commonly shown as PT, represents the underlying principal that becomes redeemable when the market reaches maturity. PT can also trade before that date, allowing a buyer to purchase the future principal at the prevailing market price.

Yield Tokens, or YT, provide the right to yield generated by the underlying asset until maturity. Holders can claim accrued returns through Pendle’s interface, but YT stops earning once the market expires. Its remaining value, therefore, declines as maturity approaches unless changes in the underlying rate or incentives support demand.

For the sNET market, the Sept. 17 date establishes when PT becomes redeemable and YT stops collecting returns. Traders who buy PT can seek an implied fixed return by holding the position through maturity, while YT buyers take exposure to changes in sNET’s yield during the remaining term.

Pendle calculates the implied annual percentage yield from the relative prices of PT and YT. Although the platform describes the rate available through PT as a fixed APY, its terms state that the figure is an implied annualized return based on the purchase price and an assumption that the position remains open until maturity. It is not a contractual guarantee.

Buying YT can amplify exposure because a trader pays for the yield component rather than the full underlying asset. Pendle warns in its documentation that long-yield returns can be negative when the income collected before maturity falls below the amount paid for YT.

Liquidity providers face a different mix of returns. Pendle says its pools contain PT and Standardized Yield assets, with providers potentially receiving swap fees, underlying yield, an implied return from PT, and protocol incentives where available.

Robinhood Chain adds another DeFi protocol

Robinhood opened the chain’s public mainnet on July 1 as a permissionless Ethereum Layer 2 built using Arbitrum technology. The network uses ETH for transaction fees, supports Ethereum-compatible wallets, and posts transaction data to Ethereum.

Its first group of infrastructure and trading partners included Uniswap, Pleiades, Alchemy, BitGo, and Chainlink. Robinhood said the network was designed for tokenized financial assets, lending, trading, and applications that can use real-world assets inside smart contracts.

Robinhood Crypto executive Johann Kerbrat said during the mainnet announcement that decentralized finance had offered functions unavailable in traditional markets but had historically required technical knowledge to use.

“We’re bringing the best of traditional finance and DeFi together, and in doing so, expanding financial ownership to every corner of the globe.”

Activity grew quickly after the launch. As crypto.news previously reported, Robinhood Chain processed about $945 million in decentralized exchange volume on Aug. 25, up from its former daily record of $563 million on July 8. Cumulative DEX volume exceeded $47 billion in less than two months, while total value locked reached roughly $1.4 billion by late August.

Uniswap has served as a major liquidity venue since the mainnet opened. In August, its stock-token volume passed $1 billion, covering combined swaps across several tokenized equities rather than deposits or activity from a single asset.

Robinhood Chain generated $4.01 million in application revenue from $4.45 million in fees on Sept. 2, according to a recent revenue report. The DeFiLlama snapshot placed it above Solana, Ethereum and Tron for the measured day, although much of the fee activity came from trading applications and memecoin platforms rather than tokenized stocks.

Robinhood has covered gas costs for eligible transactions completed through Robinhood Wallet during a 90-day promotion that began with the mainnet launch. The subsidy is scheduled to end around Sept. 29, while people using third-party wallets already pay network fees in ETH.

U.S. access depends on the product

Robinhood describes its blockchain as permissionless, meaning users can connect with supported self-custody wallets without opening a Robinhood brokerage account. The company also states that activity on the network remains separate from investments and balances held through its brokerage and centralized crypto services.

Product restrictions still apply at the application and asset levels. Robinhood says its Stock Tokens are unavailable to U.S. residents even though they track companies listed on American exchanges, including Apple, Alphabet, and Nvidia.

Stock Tokens are debt securities issued by Robinhood Assets Jersey Limited and provide economic exposure to referenced securities. Robinhood’s disclosures state that token holders do not gain legal or beneficial ownership of the underlying shares, including shareholder voting rights.

Pendle’s announcement did not say whether its sNET market carries geographic restrictions or whether Robinhood Wallet will surface the product directly to American users. Access through the permissionless network does not establish that a particular interface or financial product is legally available in every jurisdiction.

Pendle expands its multichain presence

Before the Robinhood Chain deployment, Pendle operated across networks including Ethereum, Arbitrum, BNB Chain, Base, Mantle, Optimism, HyperEVM, Monad and Plasma. Its earlier Plasma expansion introduced five markets tied to assets such as USDe, sUSDe, USDai, and syrupUSDT.

DefiLlama data showed approximately $1.23 billion locked across Pendle products at the time of reporting, with Ethereum accounting for more than half of the total. The data provider also recorded about $542 million in Pendle decentralized exchange volume during the previous 30 days.

PENDLE traded near $1.90 on Sept. 4, rising about 1.2% over 24 hours and 9.1% across seven days. Its market capitalization stood near $327 million, based on roughly 172 million tokens in circulation.

NetNet’s NET changed hands near $1,012 on the same day, according to CoinGecko, after trading between approximately $863 and $1,371 over 24 hours. The data provider placed its circulating market capitalization near $4.5 million and identified NET-USDG on Uniswap V4 as its most active trading pair.

Billionaire Nvidia director Mark Stevens sold $410.84 million of the chipmaker’s stock across three days this week and didn’t even bother to note any predetermined trading plan or reason for his disposal.

It was the largest insider Nvidia stock sale in history by dollar value, clearing the previous record by $175 million.

He disclosed his sales on a single SEC Form 4 with his Third Millennium Trust executing seven separate transactions. Stevens and his wife are co-trustees of Third Millennium Trust.

Stevens’ trust sold 585,000 NVDA shares on Monday, 63,501 on Tuesday, and 1.2 million on Wednesday. All told, Stevens disposed of 1,848,501 NVDA at a weighted average price of $222.26, netting him approximately $411 million.

CEO Jensen Huang has sold more absolute stock across a much longer time period — $713 million from June 14 through September 12, 2024 — but across a contiguous series of days, Stevens sold the most this week.

Moreover, as discussed below, he has filed his intention to imminently dump even more shares.

His three-day selling spree exceeds all other NVDA insider sales that Protos staff could electronically retrieve from the SEC website as well as the insider trading monitoring services OpenInsider and InsiderScreener.

Interestingly, electronic SEC Form 4 filing became mandatory only in mid-2003, and Nvidia IPO’d in 1999.

Stevens’ massive sales overtook the self-enrichment record from Tench Coxe, another Nvidia director who took the record with a 2024 sale. Coxe’s September 2024 filing reported $235.74 million of stock sales across two days. 

Stevens sold 74% more this week. And he might be selling even more.

Crypto hardware wallet Trezor says it’s “terribly sorry” after revealing today that another 67,000 US users were leaked in last month’s mailing partner breach. This brings the total number of affected users to over 80,000.

Trezor initially revealed last month that the personal details of 13,689 of its customers had been leaked after bad actors infiltrated ShipMonk’s systems. 

At the time, Trezor downplayed the scale of the incident by claiming its 90-day data policy, which its partners follow, deleted old user data and helped mitigate the leak. 

However, Trezor now claims that this policy was never enforced, and that the data was never deleted. 

“Throughout our entire relationship with ShipMonk, we repeatedly requested and received written assurance confirming the deletion of the data, in line with our contract, data policy, and past communications,” Trezor claimed. 

Three key economic events could shape market sentiment in the second week of September: the ECB interest rate decision, the latest UK GDP data and US inflation figures.

In this video, Gary Thomson looks at what these releases could mean for monetary policy expectations and major currency, gold and equity markets.

👉 Key topics covered:

✔️ ECB Interest Rate Decision — 10 September — Markets are pricing in a 25-basis-point rate hike after Eurozone inflation accelerated to 3.3%. With the move largely expected, the ECB’s guidance on future policy could be more important for the euro.

✔️ UK GDP — 11 September — The UK economy grew by 0.4% in Q2, while June GDP expanded by 0.3%. Could the latest data confirm the resilience of the UK economy or point to a loss of momentum?

✔️ US Inflation — 11 September — US annual inflation slowed to 3.4% in July, while core inflation eased to 2.5%. The latest figures could influence expectations for the Federal Reserve’s next policy move and trigger volatility across USD pairs, gold and equity indices.

With both the ECB and Federal Reserve facing important monetary policy decisions, traders will be watching closely for any signals that could change expectations for future interest rates.

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