defi

According to BBX data, yesterday global publicly listed companies in the U.S. stock market and leading investment institutions disclosed the latest developments in digital asset treasury allocation, equity tokenization, and mixed financial innovations in real estate. The core information is as follows:Strategy (NASDAQ: $MSTR) increased its holdings by 250 BTC last week, raising its dollar reserves to $5.5 billion: The world's largest corporate Bitcoin treasury publicly listed company, Strategy, disclosed its latest ledger. Last week, the company increased its holdings by another 250 Bitcoins in the secondary market, while spending $192 million to repurchase its STRC preferred shares. As of October 11, 2026, the total amount of Bitcoin held by Strategy has risen to 848,250 BTC, and the balance of dollar reserves in the balance sheet has increased to $5.5 billion.Zhibao Technology (NASDAQ: $ZBAO) plans to explore stock tokenization and evaluate re-staking 2,380 BTC for liquidity: Nasdaq-listed insurtech company Zhibao Technology announced the signing of a strategic cooperation framework agreement with the liquidity re-staking protocol Bedrock. Both parties will establish a joint working group to explore the tokenization of its Class A common stock registered with the U.S. SEC at the transfer agent level (retaining full voting and dividend rights) and explore integration with compliant DeFi applications; at the same time, Zhibao Technology is evaluating the possibility of putting part of its treasury holdings of 2,380 Bitcoins into Bedrock's uniBTC infrastructure. This agreement is currently non-binding and still needs to go through due diligence, compliance review between China and the U.S., and complete restructuring if necessary, with a formal agreement expected to be signed within the next 12 months.BitMine (NASDAQ: $BMNR) increased its holdings by over 12,000 ETH last week, raising its total holdings to 6.028 million: Nasdaq-listed mining company BitMine disclosed that it increased its holdings by another 12,532 Ethereum last week. As of October 11, 2026, its total Ethereum holdings reached 6,028,946 ETH (approximately 4.9% of the total supply on the network). Currently, BitMine's total asset value is approximately $16.2 billion (including $612 million in cash and securities, 214 Bitcoins, $180 million in Beast Industries equity, and $85 million in Eightco investments). Of these, the staked Ethereum remains at 5,067,309 (accounting for 84% of total holdings), valued at approximately $12.9 billion, with current annualized staking income of about $336 million.DeFi Development (NASDAQ: $DFDV) increased its holdings by over 22,000 SOL last week, bringing total holdings close to 2.59 million: Solana treasury company DeFi Development announced that in the past week, its holdings of SOL and SOL equivalents increased by 22,070. The cumulative holdings on the balance sheet have reached approximately 2,586,282 SOL, continuously promoting on-chain staking and validator node operations.Cardone Capital disclosed a $1 billion mixed real estate and Bitcoin platform, planning to refinance to increase holdings by 500 BTC: Real estate investment firm Cardone Capital's founder Grant Cardone revealed that its mixed investment model in real estate and Bitcoin has attracted about 3,000 investors over the past 18 months, with a cumulative transaction scale of $1 billion. Its first project cost $72 million to acquire property and allocated $17 million in Bitcoin, with the property currently generating about $360,000 in monthly rental cash flow, all of which is used for continuous Bitcoin purchases. The project is planning to refinance the underlying property to use the loan to buy back 500 Bitcoins, which will increase the project's holdings to about 700 Bitcoins. Cardone also revealed that Bitcoin currently accounts for about 20% of his personal investment portfolio.

Bitget's Head of Greater China, Xie Jiayin, shared his thoughts on attending Token2049 in Singapore on Twitter.First, users are becoming increasingly professional and are starting to redefine products. The demand for options, strategy squares, and other tools that enhance capital efficiency is being proposed by users. For institutions, the improvement in capital efficiency brought about by tokenization is a core demand.Second, the bubble is clearing, and projects are beginning to de-tokenize. They are no longer solely relying on issuing tokens for marketing but are instead creating real value through payment, asset management, and brokerage services.Third, the industry is welcoming a clear regulatory framework, which will inevitably bring short-term pain. In the long run, compliance and institutionalization will drive the industry to mature into a robust financial infrastructure.

According to CoinDesk, executives in the cryptocurrency industry believe that the failure of the Clarity Act will create opportunities for decentralized finance, but established exchanges may continue to maintain a competitive advantage.Related initiatives from the U.S. Securities and Exchange Commission and the U.S. Commodity Futures Trading Commission may promote the expansion of regulated on-chain trading and increase institutional participation. Legal experts indicate that the regulatory framework is expected to progress gradually, but there are still gaps that need to be addressed by the U.S. Congress.

Multicoin co-founder Kyle Samani announced on platform X that his largest personal angel investment has been made into Backpack.On September 2, Backpack announced that Multicoin Capital co-founder and early Solana investor Kyle Samani has joined the Backpack US Board of Directors. Samani has long focused on the development of DeFi, blockchain infrastructure, and global capital markets. Backpack stated that this appointment reflects a shared judgment between both parties that the future of global finance will combine institutional-level risk control with the efficiency and transparency of on-chain markets.

On October 9, the decentralized stablecoin USDD sponsored and attended the Cointelegraph CONNECT event held in Singapore. USDD's Head of Communication Yvonne Chia will participate in a thematic discussion alongside executives from projects such as ether.fi, Mercuryo, and FinHarbor. This discussion focuses on how stablecoins can truly enter daily consumption scenarios through payment infrastructures like cards and wallets.USDD is a multi-chain decentralized over-collateralized stablecoin, currently issued simultaneously on the TRON network, Ethereum Chain, and BNB Chain. Leveraging its seamless compatibility with major DeFi protocols and multi-chain layout advantages, USDD is committed to building a secure, transparent, and efficient decentralized stablecoin product, while continuously exploring the greater value of stablecoins in the real economy.

Blockworks analyst Jake Koch-Gallup published a rebuttal to the viewpoint that Ethereum is losing its liquidity moat, arguing that despite the challenges to ETH's value capture ability and stablecoin market share, its reserve asset characteristics, Layer 2 ecosystem, and institutional adoption still constitute a long-term competitive advantage.In response to the issue of low on-chain revenue for Ethereum, Jake pointed out that ETH's valuation depends not only on actual economic value (REV) but also includes reserve asset and collateral premiums, with ETH's market capitalization currently about 1,100 times the REV of the past 12 months. Additionally, the development of Layer 2 networks such as Robinhood Chain and Base can still strengthen the Ethereum ecosystem, rather than indicating that funds and applications are completely leaving Ethereum. Jake also noted that Ethereum currently accounts for about 65% of the total value locked (TVL) in DeFi, with approximately 45% of the on-chain managed scale in real-world assets (RWA), while spot ETFs and corporate treasuries collectively hold about 13% of the total ETH supply, and about 36% of the ETH supply is currently staked.Although Ethereum's stablecoin market share has gradually faced dilution pressure from around 51%, Jake believes that as the overall stablecoin market expands, its absolute scale may continue to grow. However, Jake also acknowledged that relying solely on ETH's reserve asset premium, without sufficient revenue and value return mechanisms, raises questions about its valuation sustainability.

Robinhood Chain's on-chain activity continues to cool down. According to CoinDesk's calculations based on growthepie data, from October 2 to 8, the network's average daily transaction volume was 6.2 million, a decrease of 42% compared to 10.8 million from September 10 to 16, and a drop of 20% from the previous week; during the same period, the average daily active addresses were about 322,000, down 31% from mid-September. Robinhood launched this chain in July, allowing users to trade tokens and lend through applications connected to Ethereum, and plans to introduce around-the-clock trading of tokens linked to stocks and funds.Transaction volume has also declined. From October 2 to 8, the spot trading volume fell to $7.45 billion, down 21% from the previous week's $9.46 billion, with Uniswap handling about 77% of it. However, funds have not fled; on-chain lending and trading application deposits increased by about 2% week-over-week to $1.04 billion, and the supply of stablecoins rose to about $1.1 billion. Perpetual contract trading volume, on the other hand, grew against the trend by 26% to about $7.35 billion.Fee income has shrunk accordingly. During that week, users paid an average of about $65,000 in network fees daily, a decrease of 39% from the previous week, far below the peak of $8 million per day at the beginning of September. According to a report by Bernstein last month, Robinhood retains about 90% of network fees.

TRON DeFi Summer S3 is ongoing, and JST, as the governance token of JUST and JustLend DAO, is opening new on-chain revenue opportunities for holders. Users can access JustLend DAO through Binance Wallet DeFi and participate in the $300,000 JST Boost reward pool. By depositing 1000+ JST, users can join the S3 event and enjoy Boost incentives. Holding JST not only allows participation in protocol governance and community voting but also enables additional earnings in S3, releasing dual value from the governance token. The real-time APR fluctuates with market conditions and is subject to the final display on the event page.

The U.S. Congressional Budget Office estimates that the total federal budget deficit for fiscal year 2026 will be $2 trillion, an increase of $218 billion from fiscal year 2025.Revenue is expected to increase by $169 billion, while spending is projected to rise by approximately $386 billion, with the increase in spending primarily coming from net interest on debt, welfare programs, defense, and education.

According to The Defiant, a wallet address transferred 150 million USDT from the lending protocol Aave to Spark Savings.This fund transfer occurred as Aave's borrowing rates rose to double-digit levels. Affected by withdrawals, on October 8, Aave's USDT reserves available liquidity on Ethereum amounted to 169.54 million dollars.

South Korean Deputy Prime Minister and Minister of Strategy and Finance Lee Hyung-ryul stated that in response to the virtual asset taxation policy planned for implementation in 2027, various opinions proposed by the National Assembly, as well as those from experts, industry professionals, and relevant stakeholders, will be widely collected.South Korean lawmaker Kim Sang-hoon questioned that several months before the implementation of virtual asset taxation, the relevant infrastructure is still not complete, including insufficient tracking and verification capabilities for trading records on overseas exchanges, DEX, DeFi, and other platforms. Regarding the expected tax scale brought by virtual asset taxation, Lee Hyung-ryul stated that there are indeed parts that are "difficult to accurately grasp." Since taxation requires obtaining taxpayer declaration data first, further tax estimation can only be conducted after the relevant declaration system is launched next year, and related policies will be carefully evaluated.

According to official news, Chainlink announced the launch of CCIP Vault Adapters, allowing decentralized finance (DeFi) vaults on a single network to directly receive one-click deposits from over 80 supported blockchains, without the need to redeploy vaults across different chains.

On October 7, TRON DeFi Summer S3 continues, providing more on-chain yield options for stable asset holders. As a stablecoin in the TRON ecosystem, USDD users can access JustLend DAO through Binance Wallet DeFi and participate in the $600,000 USDD Boost reward pool.Holding 100 USDD allows participation in the S3 event, earning basic annualized returns while stacking Boost incentives. Users can exchange USDT for USDD at a 1:1 ratio with zero slippage through PSM, and the deposited USDD can continue to serve as qualified collateral, balancing yield and capital flexibility. The real-time APR may vary with market changes; please refer to the activity page for the latest information.

On September 29, the Orca community released a token holder proposal to adjust the protocol fee distribution to 10% flowing into the xORCA pool, 10% allocated to the team's buyback account, and 80% for team operations. The proposal also plans to transfer approximately 14.2 million ORCA from the community treasury and about 70,000 SOL from the fee treasury to a team-controlled account, and to dissolve the council, shifting to pure token holder governance.The original distribution was 20% xORCA, 30% fee treasury, and 50% team, later adjusted to 40% / 10% / 50%. The team stated that they have negotiated the acquisition of a leading Solana DeFi protocol, which is expected to bring about a 50% increase in TVL. Voting requires 3 million yes votes, with a voting period of 5 days, and the council can veto with 4 votes. Risks include concentration of control and reduced xORCA yields, with the team committing to disclose buyback and strategic account deployment status every six months.