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Tori raised 50 million USD in funding 7 days before going live, bringing institutional-level arbitrage strategies on-chain

Dutch crypto finance protocol Tori Finance announced that its institutional-grade Delta neutral yield product strUSD has completed a $50 million pre-deposit fundraising before its official launch, reaching the cap in just 7 days. Tori stated that strUSD offers an annualized yield of approximately 12%, with returns derived from global arbitrage trading strategies traditionally used by financial institutions, rather than from the circulation of funds in the crypto market. This strategy achieves low correlation with crypto market cycles by borrowing in low-interest currencies, investing in high-interest markets, and utilizing foreign exchange hedging to lock in dollar returns.Tori founder Samed Duzcay mentioned that such trades were previously mainly participated in by large institutions like pension funds and banks, which typically required a funding threshold of tens of millions of dollars and involved complex processes such as local bank accounts, custody, tax, and compliance approvals. Tori opens up these institutional strategies to ordinary users through on-chain tokenization. Users can deposit USDC or USDT to obtain the synthetic dollar asset trUSD and stake to earn strUSD. This asset is based on the ERC-20 standard and can be integrated with DeFi protocols such as Morpho, Pendle, and Curve, and can also be used as collateral for lending to further amplify returns.Tori claims that the protocol constructs an on-chain balance sheet through zero-knowledge proofs and trusted execution environments, with independent verification agency Accountable conducting real-time audits of off-chain fund situations; digital asset investment firm RockawayX serves as the risk management party and anchor liquidity provider. Additionally, Tori's smart contracts have been audited by Sherlock and Nethermind, and Hypernative has been introduced for round-the-clock security monitoring, with all contract upgrades set to a 24-hour delay mechanism. Tori stated that its goal is to bring the neutral yield strategies used by traditional financial institutions for decades into the on-chain financial system, promoting the integration of real yields with DeFi infrastructure.

Ondo abandons the independent blockchain route and launches a new execution network: creating an architecture for "exchange-level performance on-chain."

Ondo Finance announced the launch of the new Ondo Network, positioned as a high-performance execution layer, aimed at combining the trading speed of centralized exchanges (CEX) with the non-custodial and secure settlement capabilities of blockchain. Ondo CEO Ian De Bode stated that the Ondo Network is an "evolutionary version" of the previous Ondo Chain plan, and the company will not operate two networks simultaneously, but will adjust the original plan of building a complete blockchain to focus on the execution layer architecture.According to reports, Ondo initially planned to fully bring real-world assets on-chain through Ondo Chain, but after developing the Ondo Perps perpetual contract trading platform and communicating with users, it was found that the current market's core bottleneck is not asset settlement, but rather trading execution efficiency. The Ondo Network adopts a separated architecture for execution, verification, and settlement, utilizing secure hardware to isolate the execution environment, which enhances trading speed while maintaining user asset self-custody, verifiable transactions, and permissionless blockchain characteristics.Currently, Ondo Perps has become the first application built on this network, supporting 24-hour trading of stocks and commodity perpetual contracts, and allowing the use of tokenized real assets as collateral. Ondo stated that in the future, this network will also support applications requiring high performance, privacy protection, and verifiable execution, such as spot trading, lending, and structured products. Furthermore, the launch of the Ondo Network will not change the positioning of the ONDO token. The CEO stated that ONDO will continue to serve as the governance and incentive token for the Ondo RWA ecosystem and market infrastructure, and as the network gradually decentralizes, ONDO will be used to coordinate the incentive mechanisms for verification nodes, observers, and ecosystem participants.

RootData: The trading volume of perpetual contracts for exchange stocks dropped by nearly 90% over the weekend, but participation in stock expected pricing remains

According to data from RootData's stock perpetual contract exchange rankings, nearly 30 exchanges that have launched stock perpetual contracts still significantly adhere to the trading rhythm of traditional stock markets: trading volume drops sharply on weekends, and the morning session on Monday warms up as the traditional market approaches recovery, but has not yet returned to the intensity of a full trading day.Comparing trading days with non-trading days, the 24h trading volume of stock perpetual contracts dropped from approximately $39.078 billion to $4.896 billion, a decrease of about 87.5%. However, during the same period, the open interest slightly increased from $10.139 billion to $10.262 billion, indicating that positions have not been withdrawn on a large scale; what has truly decreased is active trading and turnover. A snapshot taken on the morning of Monday, July 27, shows that the 24h trading volume rebounded to $10.617 billion, an increase of about 116.8% compared to Sunday, indicating that market activity is recovering.In terms of liquidity, the weighted market depth (±2%) decreased from approximately $58.92 million to about $47.83 million, a decline of about 18.8%; it rebounded to around $55.68 million on Monday morning, nearing trading day levels. This indicates that the speed of order book recovery is faster than that of actual trading recovery, and market depth has not plummeted as sharply as trading volume.From the performance of exchanges, leading platforms such as Binance, OKX, and Bitget maintained relatively narrow spreads and strong depth on Monday morning; Hyperliquid performed well in rankings, but its trading volume was still below trading day levels; some long-tail platforms still face issues with excessively wide spreads, making it temporarily impossible to assess true liquidity.RootData Research believes that the most prominent value of these stock perpetual contract exchanges is to allow stock risks to be traded, priced, and hedged even on non-trading days of the traditional stock market. The traditional stock market is closed on weekends, with official prices remaining at the previous trading day's closing price, while stock perpetual contract exchanges still have trading, open interest, order books, and spreads on Sundays, indicating that crypto exchanges have broken through the "trading time" limitations of stocks.However, from the current data, they are participating in expected pricing rather than official pricing, making them more suitable for expressing events, emotions, macroeconomic changes, and risk preference shifts on non-trading days. Due to decreased trading volume over the weekend, widened spreads, and some platforms having abnormal data metrics, they currently resemble a "stock pre-opening price discovery layer," having participated in stock pricing but not yet obtaining the primary pricing power of the traditional stock market, nor have they surpassed the liquidity of the traditional stock market.

The enthusiasm for BTC allocation among listed companies continues to cool, with a net sell-off of 15.92 million dollars in a single week

According to SoSoValue data, as of 8 AM Eastern Time on July 27, 2026, the total net sell-off of Bitcoin by global listed companies (excluding mining companies) in the past week was $15.92 million, a decrease of 1,296.99% compared to last week.According to official documents, Strategy did not purchase Bitcoin last week, selling approximately 5.43 million shares of MSTR between July 20 and July 26, resulting in a net gain of $544.5 million, and spent $25 million to repurchase 288,930 shares of STRC preferred stock.The Japanese listed company Metaplanet did not purchase Bitcoin last week.In addition, three other companies bought or sold Bitcoin last week. Aerospace-grade defense battery thermal management and safety solutions provider KULR announced on July 24 that it generated approximately $21.5 million in revenue from July 9, 2026, to July 23, 2026, selling 333 Bitcoins at a price of $64,538, reducing its total holdings to approximately 760 Bitcoins; asset management company Strive announced on July 27 that it spent $5.19 million to purchase 79 Bitcoins at a price of $65,723, bringing its total holdings to approximately 20,000 Bitcoins; Brazilian Bitcoin company OrangeBTC announced on July 27 that it spent $394,500 to purchase 6 Bitcoins at a price of $65,742, increasing its total holdings to 3,918 Bitcoins.Metaplanet subsidiary Bitcoin Japan announced a convertible bond financing agreement with EVO Fund, intending to raise 9.66 billion yen (approximately $59.5 million) to establish a cryptocurrency asset treasury.As of the time of publication, the total amount of Bitcoin held by global listed companies (excluding mining companies) in the statistics is 1,139,480 Bitcoins, a decrease of 0.02% compared to last week, with a current market value of approximately $7.416 billion, accounting for 5.7% of Bitcoin's circulating market value.

A trader in Hong Kong embezzled HKD 50 million in margin for leveraged stock trading and was arrested after reporting a loss of HKD 150 million

According to Tencent News "Frontline," a 26-year-old male employee of Hong Kong Central Wealth Management Services Limited misappropriated 50 million Hong Kong dollars as margin without authorization, using it to finance the purchase of a double long position in the Southern Eastern Ying Hynix ETF (07709.HK), resulting in a paper loss of up to 150 million Hong Kong dollars. The trader was arrested by the police on July 20 on suspicion of "theft," with the incident occurring from January 9 to July 20.Financial analysts in Hong Kong stated that the reason the 50 million principal turned into a 150 million loss was due to the combination of margin financing and the double leverage of the long ETF. This ETF surged to a historical high of 193.65 Hong Kong dollars at the end of June, driven by the storage chip concept, but then the semiconductor sector sharply corrected, falling to 52.58 Hong Kong dollars by July 20, a decline of over 72%. The police revealed that the relevant positions had not yet been forcibly liquidated, and the final loss would still fluctuate with the stock price. The incident was discovered during a recent audit of the company, which reported it to the police. Central Wealth Management is not a licensed company by the Securities and Futures Commission, and Central Wealth Securities stated that the involved personnel are not their employees and are unrelated to the incident, but after the event, some clients exhibited risk-averse withdrawals.
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