defi

BitcoinTreasuries.NET posted on platform X that DFDV rose over 10% to $5 on the same day. DeFi Development Corp CEO Joseph Onorati stated that his team closely observed the development of STRC and SATA by Strategy and Strive; the newly launched Solana-supported preferred stock CHAD by DeFi Development Corp drew on the experiences of both.

Commissioner Hester M. Peirce of the U.S. Securities and Exchange Commission (SEC) made a statement regarding the committee's approval of the "innovation exemption."This exemption is a temporary, conditional arrangement that allows "tokenized securities venues" (TSV) to trade NMS "National Market System" stocks on-chain: TSV provides automated market maker liquidity pools and sets participant admission standards, and is exempt from the definition of "exchange" under the Securities Exchange Act; specific suppliers providing liquidity to TSV are exempt from the definition of "dealer." If issuers do not wish for their stocks to trade on TSV, they can choose to opt-out. The exemption is aimed at U.S. entities, and both existing institutions and new entrants can participate.Peirce emphasized that the committee does not presuppose that parties relying on this exemption necessarily fall under the definitions of "exchange" or "dealer," but rather hopes to first observe who is using it and how it is being used before making regulatory judgments.Peirce clearly delineated the boundaries of this order: it is not about decentralized finance. Systems that are driven by automated software and are truly decentralized do not raise fundamental concerns of securities regulation, namely that intermediaries trusted by investors may be foolish, careless, or compromised; investors using permissionless smart contracts for peer-to-peer transactions do not fundamentally require an exemption. TSV is merely one model of on-chain securities trading, and the committee is open to other models, as on-chain trading models that can comply with existing Securities Exchange Act requirements may not require an exemption at all.

According to official news, the Arc public chain has now integrated with Binance Wallet DeFi, allowing users to provide liquidity for designated liquidity pools on Arc through the Binance App and manage LP positions uniformly within the wallet.

Aave founder Stani Kulechov stated that after the Clarity Act failed to advance in the Senate, DeFi may need to take the "Uber path."The idea is to build products for millions of users, demonstrate the value of the technology, and make it so important that legislators have to find a way to regulate it.

According to The Block, the UK Treasury has submitted amendments to cryptocurrency regulations, including exemptions for certain stablecoin transactions, custody arrangements, and technical services related to DeFi protocols, which require parliamentary approval.Katie Harries, Coinbase's Head of European Policy, welcomed these changes but noted that regulated exchanges still face barriers in seeking access to DeFi.

Phemex CEO Federico Variola stated in Cointelegraph's Chain Reaction program that AI has a "net negative impact" on the cryptocurrency industry. He believes that AI diverts funds from the crypto sector on one hand, while on the other hand, it empowers attackers to exploit protocols through means such as social engineering or vulnerability exploitation, increasing cybersecurity costs for small teams. This pressure may push the crypto industry towards greater centralization.Variola expressed that it is difficult to maintain an optimistic view of AI in the crypto space, as many so-called fixes actually encourage more rather than less centralization. He also warned that as AI becomes more widespread, threats such as device breaches or social engineering will increase, reducing the appeal of DeFi to ordinary retail users. However, he acknowledged that AI agents have practical value in helping investors build portfolios or make better trading decisions, but he expects that AI agents will not completely replace human trading decisions.The context of this statement is that Phemex announced an AI transformation in February this year, planning to integrate AI into product development and internal operations. Additionally, in July this year, attackers exploited a vulnerability in the Coldcard hardware wallet to steal approximately $116 million in Bitcoin, a vulnerability widely believed to have been discovered through malicious use of AI; Coinkite CEO Rodolfo Novak warned at the time that the speed at which AI-assisted code reviews find vulnerabilities has surpassed that of the industry's most experienced experts. CertiK senior blockchain investigator Natalie Newson pointed out that AI can also become one of the greatest defensive forces.

According to The Defiant, Kraken has launched three xStocks vaults, allowing eligible customers to deposit SPYx, QQQx, and NVDAx into the vaults while earning floating returns while retaining exposure to tokenized stocks or ETFs. The vault initially shows an estimated net APY of 2% for SPYx and QQQx, and 1.8% for NVDAx. Kraken charges a 25% performance fee on vault earnings, and the displayed interest rate has already deducted this fee; rewards will be converted into the same type of xStock and automatically reinvested into the customer's balance.The strategy is designed by Sentora and is responsible for risk management, while Veda provides the vault infrastructure. After customers deposit xStock, Kraken transfers it to an embedded self-custody wallet on Ink, packages it, and deposits it into the Veda vault; Sentora then cross-chain transfers the packaged xStock to Solana and deposits it as collateral in the Kamino lending market. After borrowing stablecoins, it is deployed into selected DeFi strategies, and the returns are ultimately converted back into the deposited xStock. Customers do not need an external wallet or mnemonic phrase but can export the private key; redemption requires a three-day wait for funds to arrive.Kraken's documentation shows that the strategy uses leverage to generate returns by borrowing stablecoins and lists risks such as smart contracts, liquidity, bad debts, liquidation, cross-chain execution, and downstream assets, with losses shared proportionally among vault users. xStock holders do not have voting rights, dividend rights, or legal claims to the underlying stocks. The vault is currently available to the European Economic Area and other supported markets, while users from the United States, United Kingdom, Canada, Australia, the United Arab Emirates, and sanctioned countries cannot use it.

According to GlobeNewswire, Solana Treasury Company DeFi Development Corp. (Nasdaq: DFDV) has increased its total holdings of SOL by 55,491 coins since August 27, currently holding approximately 2,388,900 SOL and SOL equivalents, an increase of about 2%.At the same time, the company announced the establishment of a variable rate Series C perpetual preferred stock (Nasdaq: CHAD) ATM program with a cap of $300 million, with R.F. Lafferty & Co. serving as the exclusive sales agent. The issuance price is expected to be no less than $10 per share par value, and the net proceeds will primarily be used to increase SOL holdings.The company stated that the establishment of the CHAD ATM program does not represent an immediate initiation of financing, and the company is under no obligation to sell any shares.

MetaMask officially announced support for connecting to TRON decentralized applications, further opening up the multi-chain ecosystem entry. In the latest DApp Spotlight, several representative projects from the TRON ecosystem have been selected, covering three core areas: artificial intelligence, decentralized finance, and file storage, including the AI Agent infrastructure B.AI, the liquidity infrastructure platform SUN.io, the DeFi lending platform JustLend DAO, and the globally leading peer-to-peer file sharing protocol BitTorrent. Users can now conveniently access the above dApps through MetaMask, experiencing a one-stop service for AI, DeFi, and decentralized storage, among other multi-chain services. This integration not only enhances the openness and usability of the TRON ecosystem but also provides global users with a smoother multi-chain interaction experience, further improving the openness and usability of the TRON ecosystem.

Crypto In America host Eleanor Terrett stated on X that the Republican Party of the U.S. Senate has released an updated text of the Clarity bill, reflecting changes from negotiations during the August recess.She noted that the ethical provisions section appears unchanged, and the provisions related to BRCA and stablecoin earnings remain the same.Changes include: requiring non-decentralized DeFi protocols to register with the CFTC, which aligns with Section 10301 of the Banking Committee's part of the bill; limiting DeFi provisions to spot or cash digital commodity trading, seemingly aimed at addressing tribal concerns about blockchain-based prediction markets; and clarifying the authority of credit unions to handle crypto assets.

According to The Block, Uniswap Labs announced the launch of a new tool, StablePair Hook, designed specifically for stablecoin trading pairs such as USDC/USDT and USDC/USDG.Uniswap Labs stated that StablePair Hook can provide traders with consistent and predictable quotes, allowing liquidity providers to retain more of the value they create. Data shows that in the second quarter, the trading volume of exchanges between stablecoins on Uniswap reached $43.4 billion, surpassing the total of the other three major on-chain trading venues.StablePair Hook replaces fixed rates with dynamic rates, which adjust based on the degree of price deviation from the reference price within the pool. When the price is close to the reference price, the Hook adjusts the transaction fee for each trade to maintain a fixed bid-ask spread; when the price deviates from the reference range, trades that push the price away incur no fees, while trades that pull the price back to the reference price use a Dutch auction mechanism, with fees decreasing block by block from high to low until accepted by the trader. Uniswap Labs stated that this allows liquidity providers to retain more value from price returns.The first batch of StablePair Hook pools will go live on Ethereum, supporting USDC/USDG and USDC/USDT trading pairs. This Hook can be upgraded through Uniswap governance, and the fee system and other parameters can be adjusted without migrating liquidity.

WalletConnect released a 68-page report titled "Current Status of Policy, Compliance, and Regulation," outlining global regulatory progress in areas such as payments, DeFi, trading, custody, and tokenization. The report indicates that discussions on cryptocurrency regulation in major markets have shifted from "whether to regulate" to "how to implement," with relevant frameworks transitioning from legislation to actual enforcement at different speeds, but cross-border rules remain highly fragmented.The report points out that the European Union's Markets in Crypto-Assets Regulation (MiCA) will be fully applicable from December 2024, with the national transition period ending on July 1, 2026; currently, there are about 330 authorized crypto asset service providers in the ESMA temporary register, and over 1,000 companies that were reported to have failed to obtain authorization before the deadline prior to MiCA's implementation. Hong Kong will issue the first batch of stablecoin issuer licenses in April 2026, and Japan's revised Payment Services Act will take effect in June of the same year. Although the U.S. GENIUS Act has become law, the relevant system will not be fully effective until January 18, 2027, and broader market structure legislation is still pending.WalletConnect states that jurisdictions are increasingly adopting a "regulated touchpoint responsibility" model, meaning that issuers and service providers must still fulfill anti-money laundering, sanctions screening, travel rule, and record-keeping obligations when interacting with self-custody addresses. Tools such as sanctions screening, on-chain analysis, address control verification, and reusable identity credentials have been used in some businesses, demonstrating that compliance and self-custody are not mutually exclusive; however, how to regulate decentralized software and protocols remains unresolved, and DeFi continues to be a major frontier issue for global regulation.

Zora co-founder Dee Goens has taken over as CEO, succeeding co-founder Jacob Horne, who held the position for over six years. Goens stated in a post on Wednesday that Horne will leave the company to embark on a new chapter but "won't stray too far from crypto." Goens revealed that Zora has conducted layoffs this year, reducing the team size to fewer than 10 people, and is shifting towards a more AI-driven operational model.On the product front, Zora has shifted its focus from the Creator Coins model launched on Base last June to supporting trading pairs on other networks. The Custom Pairs feature, launched on August 20, allows users to customize token trading pairs, with over 4,000 created so far. Zora also expanded to Robinhood Chain and Solana this summer, supporting cross-chain trading and eliminating fees for direct messages and comments. According to DefiLlama data, Zora recorded only $14,800 in fees deployed on Base in August, a 99.4% drop from $2.51 million in the same period last year.Goens outlined five key priorities, with the top priority being to align the business with the interests of ZORA token holders through the implementation of buyback and reward mechanisms, though he did not disclose specific scales, sources of funds, or timelines. The remaining priorities include rebuilding community trust, focusing on mobile app user acquisition, and restarting community incentive distribution. As of the time of publication, ZORA is priced at $0.00814, with a market cap of approximately $36.3 million, down 94.4% from its historical high of $0.1456 reached on August 11.

The Watchdog Committee of the Arbitrum ecosystem (composed of Entropy Advisors and others) submitted a proposal to the governance forum on September 3, requesting a permanent ban on the projects Good Entry, Limitless, and APX Finance, as well as their founders, prohibiting their participation in all future ArbitrumDAO initiatives. The committee determined that these three projects engaged in grant abuse within the STIP and LTIPP incentive programs, involving a total amount of 457,553 ARB (approximately $76,000).Specifically, Good Entry received 200,000 ARB in the first round of STIP, of which 142,839 ARB flowed to 1,032 ineligible users, and there is evidence of self-farming by associated addresses, with the team refusing to cooperate with the investigation; Limitless exchanged all 75,000 ARB for USDC and cross-chain to Base, being classified as suspected theft; APX Finance was approved for 525,000 ARB, of which 239,714 ARB involved issues related to funds being held in the treasury, delayed distribution, and witch cluster problems. APX later merged with Astherus and rebranded as Aster, with approximately 70% of its assets located on the BNB Chain.According to the proposal, the three projects may defend themselves in the forum post before September 10. If the explanations are not accepted and the funds are not returned, the committee will initiate three separate Snapshot votes to decide whether to permanently ban the relevant projects and founders.

The re-staking protocol Renzo Protocol announced its name change to Renzo Finance and launched its first on-chain structured yield product Renzo Basis, which will go live on Hyperliquid, initially supporting BTC and HYPE. Lucas Kozinski, founder of Renzo Labs, stated that basis trading earns funding rate income by simultaneously holding a spot long and a perpetual contract short. Since the long and short positions hedge each other, asset price fluctuations do not affect the yield, and users earn the fees paid by perpetual traders every hour.Renzo stated that the product achieves automation through a triple protection mechanism, including hedge protection, yield protection, and safety buffer. Currently, the product does not use AI automation but instead conducts trading and strategy monitoring through Hyperliquid's proxy wallet (API wallet) with user authorization, without holding user funds. The relevant protection parameters can be customized by users. Renzo emphasized that its product differs from competitors such as Ethena and Bitwise's Superstate in that it is fully on-chain, self-custodied, and allows depositors to choose their own assets, trading venues, and risk parameters.Renzo Basis plans to support all assets on Hyperliquid that have both spot and perpetual markets and expand to other DeFi platforms, with the next stop being Lighter on Robinhood, where on-chain stock perpetual basis trading will be introduced.