on-chain

Hyperliquid Policy Center (HPC) and wallet service provider Phantom submitted a joint opinion to the U.S. Commodity Futures Trading Commission (CFTC), calling for a clear delineation of the roles of "infrastructure developers" and "regulated financial service providers" in on-chain markets.The two parties suggested to the CFTC: first, to confirm that merely releasing on-chain protocol software does not constitute a regulated activity that requires registration, to avoid developers being seen as unregistered exchanges or clearinghouses; second, to provide a compliant pathway for existing licensed exchanges and clearinghouses to conduct matching and clearing using on-chain infrastructure; third, to elevate the previous "no-action letter" regarding Phantom's "non-custodial wallets not being financial intermediaries" to formal rules, providing a unified and predictable regulatory framework for similar wallets.

Raydium announces the launch of the token MORPHO for trading.MORPHO is the ecological token of the on-chain credit protocol, which has now been integrated and deployed to the Solana ecosystem through Sunrise, and trading pairs are open on Raydium, allowing users to participate in related liquidity and trading activities on Solana.

Gate recently released a detailed verification statement regarding the security item changes and fund loss incident reported by customer 9****6. After an internal review, the platform confirmed that the applicant submitted materials highly matching the customer's account, including Email, phone number, real-name information, transaction records, and Alipay screen recordings. The platform pointed out that the Alipay screen recording required access to the customer's Alipay account and successfully passed multiple identity verifications, indicating that the applicant not only possessed account information but also obtained the customer's external real-name information, Alipay account, and device permissions in advance.The platform emphasized that its security unbinding review implements a four-fold verification process of "multi-channel advance notification + system risk control preliminary screening + manual multi-layer review + time protection." After notifying the customer through dual channels, the application was processed only after waiting two days without objections, and a 24-hour withdrawal prohibition protection was imposed after modification. Upon investigation, there were no information leakage logs within the platform, and some sensitive identity information provided by the applicant was external information previously unknown to the platform.Regarding fund recovery, the platform has sorted out the flow of funds and collaborated with multiple departments to conduct on-chain analysis and asset tracking, currently coordinating with third parties like Tether to advance the freezing process, and will cooperate with judicial investigations in the future. The platform advises customers to conduct comprehensive security reinforcement on their devices and expresses regret that the customer did not contact the platform within the three-day notification period.

According to Onchain Lens monitoring, the on-chain gold whale Antalpha (@antalpha_ai, 0x07C...748) has continuously increased its holdings of XAUT over the past 3 months, accumulating approximately 15,052 XAUT, valued at about 68.03 million USD, with transfers coming from Cobo_Global.The wallet recently received 1,000 XAUT, valued at about 4.1 million USD.

The Robinhood Chain ecosystem has recently experienced explosive growth. The first meme coin on the chain, Cash Cat, has a market capitalization exceeding 100 million USD, and the daily trading volume on the DEX has surpassed 560 million USD.The number of daily active addresses on the chain is approaching 200,000, with over 140,000 being new addresses for first-time transactions, indicating a large influx of new users. In terms of token issuance, nearly 16,000 new tokens were created in a single day, and currently, there are 7 meme coins on the Robinhood Chain with a market capitalization exceeding 1 million USD.

According to The Block, the entertainment sector on-chain clearinghouse KOR Protocol announced the completion of a $7.5 million Series A financing round, with a valuation of $100 million. Investors include 1kx, Blockchain Capital, as well as previous investors Republic Crypto, Sfermion, Alumni Ventures, and SevenX.KOR Protocol is building an on-chain creative asset clearing platform for the registration, verification, and settlement of creative works such as music and film, and will provide programmable revenue sharing to creators and rights holders through stablecoins like USDC.KOR stated that this round of funding will be used for platform development, ecosystem growth, and partner integration, and plans to launch a token.

Stablecoin issuer Tether announced a strategic financing round investment of $20 million in the Latin American on-chain financial services platform Mercado Bitcoin to support its development in asset tokenization, payments, credit, capital markets, and compliant digital financial services.Founded in 2013, Mercado Bitcoin has expanded from a digital asset trading platform to a comprehensive on-chain financial infrastructure platform, covering areas such as trading services, tokenized investment products, lending, stablecoin payments, banking infrastructure, and cross-border financial services. The funds from this financing will primarily be used to expand payment infrastructure, increase the scale of tokenized products for institutional and retail investors, develop credit business, advance on-chain capital market construction, seek strategic cooperation opportunities, and promote international expansion.

According to the official announcement, the on-chain burn of GateToken (GT) for the second quarter of 2026 has been officially completed, with a total of 2,570,063.3829548 GT transferred to the burn address, with a burn value exceeding 17.75 million USD.Since the launch of the Gate Chain mainnet in 2019, GT has implemented a continuous burn mechanism, and as of now, a total of 189,947,219 GT has been burned, with a total burn value exceeding 1.311 billion USD (based on quarterly average prices). The total supply of tokens has significantly decreased from the initial 300 million by approximately 63.32%.As the only Gas token of Gate Layer, the usage frequency of GT continues to increase. As underlying infrastructure, Gate Layer provides high-performance network support for applications such as Gate Perp DEX, Gate Fun, Gate Meme Go, and Gate Swap. Gate will continue to implement a long-term, stable GT burn mechanism to create a closer positive cycle between the token economic model and real usage demand and ecological expansion.

According to defillama data, recently, the trading activity of Meme tokens such as ANSEM on the Solana chain, TCC, and CZ on the BNB Chain has driven an increase in the activity of the Solana and BNB Chain public chains. Solana has risen to the top position in public chain activity over the past 7 days, with approximately 31.385 million active addresses, a surge of 38% in active addresses over the past week.The 7-day trading volume reported is $13.63 billion, with 685 million transactions, generating $4.06 million in fees, an increase of 70% year-on-year. The public chain's 7-day revenue is $422,500, an increase of 21% year-on-year. The total value locked (TVL) on the Solana chain is currently reported at $24.78 billion, an increase of 3.9% over 7 days. The BNB Chain has approximately 8.3 million active addresses over the past 7 days, with 96.7 million transactions, an increase of 3.5% year-on-year, generating $182,000 in fees. The trading volume on the BNB Chain has increased by 45% in the past 24 hours, rising from $240 million to $350 million.

Hyperliquid founder Jeff posted on platform X that VALR, the largest cryptocurrency exchange in Africa, will directly utilize Hyperliquid's on-chain liquidity to support its core perpetual contract products. This is a significant milestone that will redefine the way the next generation of financial applications are built.The breakthrough in cloud computing lies in the ability for any startup to quickly test its ideas and rest assured that the infrastructure will scale as the business grows. As the most liquid global venue for assets like BTC, Hyperliquid will play the same role in the global economy. By leveraging the deepest on-chain liquidity, builders can shift their focus back to their products and users. Heartfelt congratulations to the VALR team. We are honored that they chose to build on Hyperliquid. Looking forward to expanding together.

According to Cointelegraph, early Bitcoin investor and billionaire Tim Draper denied recent rumors about transferring a large amount of Bitcoin and stated that he "has not used any BTC assets."Previously, the blockchain analysis platform Lookonchain cited Arkham data indicating that a "wallet possibly related to Draper" transferred about 1,000 BTC, worth approximately $62 million, to Coinbase Prime, attracting market attention.The Arkham platform had labeled the related address as "Tim Draper" and noted that the wallet has a long interaction history with Coinbase Prime, but this label is based on AI inference, with limited confidence, and the true ownership cannot be confirmed.Tim Draper stated that the related claims are untrue and reiterated his long-term view: Bitcoin will reach a target price of $250,000 within a year. Records show that Draper purchased nearly 30,000 BTC for about $18.7 million in 2014, with an average price of about $632, which is currently worth about $1.9 billion, making him one of the earliest well-known institutional investors in Bitcoin.Meanwhile, Draper's $250,000 target price has been reiterated multiple times since 2018, but the timeline has continued to be pushed back, while Bitcoin's recent peak was about $126,080 (October 2025). The market still shows significant divergence regarding future trends.

According to The DeFi Report's Ethereum Q2 ecological performance report, Ethereum's Q2 Real Economic Value (REV) is $88.4 million, a 7% increase quarter-over-quarter, but a 68% decrease year-over-year.The report shows that the average real on-chain yield in Q2 is only 0.17%, a 14% decrease quarter-over-quarter and a 61% decrease year-over-year; the total on-chain yield (including issuance) is 2.68%, with the issuance portion accounting for 94%, while priority fees and MEV contribute only 0.17%. L1 GDP, DeFi activity, and L2 participation continue to significantly weaken.The report points out that although user experience and throughput have improved, L1 fee capture capability remains weak, and future efforts need to leverage real-world applications like RWA as a settlement layer to smooth out cyclical fluctuations.

The digital asset trading platform Gate officially launched the gStocks tokenized securities service, supported by a 1:1 full reserve of native stocks as the underlying asset, opening a new investment gateway for users to the global stock market. This service relies on digital asset trading infrastructure, supporting 24/7 trading, order book matching, unified account management, and multi-asset interoperability, while providing API access capabilities to meet the needs of individual users and professional institutions in order execution, liquidity management, and hedging strategies. The first batch includes 15 tokenized securities trading pairs, covering popular global stocks such as Micron, AMD, SanDisk, and SpaceX, with plans to expand to more quality stocks and ETFs in the future, providing users with richer and more diverse investment options.As an important supplement to Gate's existing product system, the tokenized securities held by users can be used as margin for leveraged lending, can be included in wealth management products such as Yubibao, and support trading bots, grid strategies, with a minimum investment starting from 1 USDT and fractional share trading.

The on-chain spot exchange Rialto has announced its departure from stealth mode and is officially live. The platform is powered by PropAMM (proprietary automated market maker) and focuses on the integration of cryptocurrency and traditional finance, having collaborated closely with Robinhood Crypto, Offchain Labs, and Arbitrum over the past year.It is reported that Rialto is built on top of Robinhood Chain and Arbitrum, breaking the traditional market time constraints and supporting 24/7 trading of cryptocurrency spot, stock tokens, ETFs, commodities, and Pre-IPO assets. Users can self-custody equity tokens and use them directly as collateral for third-party lending. Currently, the platform is running its own PropAMM "Rivo Altus" to provide foundational liquidity, with over 90 Robinhood tokenized stocks and mainstream crypto assets already launched in the initial phase.

According to The Block, the on-chain perpetual contract exchange Extended announced the completion of a $12.5 million strategic financing round. This round was led by multi-asset trading platform eToro, with participation from Jump Crypto.It is reported that this investment is closely related to eToro's earlier acquisition of the self-custody wallet Zengo this year. eToro stated that both parties will work together to expand access to global financial markets through next-generation on-chain infrastructure and explore integration opportunities between traditional financial assets and decentralized trading environments.Extended was founded by former Revolut employees and is built on StarkWare's scaling engine StarkEx, which is set to launch by the end of 2024. Currently, eToro is integrating Zengo's multi-party computation (MPC) based non-custodial wallet technology into its brokerage platform to further expand its digital asset technology ecosystem.

Paul Atkins, the Chairman of the U.S. Securities and Exchange Commission (SEC), stated that over the past year, the SEC has actively responded to President Trump's goal of "making America the world's crypto capital" and is taking historic steps to modernize rules and regulations to promote the market's migration to on-chain.

According to BBX data, the prediction market faced a dual attack yesterday, with traditional exchange infrastructure accelerating its on-chain transition. The core dynamics are as follows:The prediction market/event contract ecosystem where Robinhood Markets, Inc. (NASDAQ: $HOOD) operates suffered a dual regulatory blow yesterday: first, the U.S. Commodity Futures Trading Commission (CFTC) has launched a comprehensive investigation into Polymarket (privately held), covering its social media activities and suspected wash trading behaviors; second, a Michigan court ruled to prohibit Kalshi (privately held) from offering sports betting services to residents in Michigan. Although these two incidents directly target Polymarket and Kalshi, their strategic importance to Robinhood cannot be ignored—Robinhood provides event contract products linked to KalshiEx LLC or ForecastEx LLC through its subsidiary Robinhood Derivatives LLC, making it the largest distribution channel for prediction markets among regulated brokers in the U.S. The CFTC's escalation of enforcement investigations into similar platforms will directly impact Robinhood's event contract business compliance framework and product expansion speed; in June, the average daily trading volume in this sector reached a historic record.Nasdaq, Inc. (NASDAQ: $NDAQ) announced yesterday that it has chosen Pyth Network (on-chain price oracle protocol) as its on-chain distribution partner for TotalView (Nasdaq's full market depth data product), marking the first time Nasdaq has integrated its core institutional-level market data into a blockchain network—TotalView provides full-level buy and sell quotes and transaction data for the U.S. stock market, historically only available to traditional financial institutions (subscription-based); on-chain distribution means that DeFi protocols, decentralized exchanges, and smart contracts can now access Nasdaq-level real-time equity market data as an on-chain pricing basis for the first time. The Pyth Network token (PYTH) subsequently rose by over 6%, with the market interpreting this as a historic fusion point between traditional securities market infrastructure and decentralized finance.

The Solana Foundation announced the official launch of the on-chain governance mechanism Solana Governance Proposals (SGP). Validators can now submit, support, and decide on core protocol decisions through SGP. All proposals are conducted on-chain, using a voting mechanism based on staking weight, and verified through Merkle proofs. Any validator that has at least 100,000 SOL delegated can initiate an SGP. Unlike the Solana Improvement Documents (SIMD), which focus on technical and protocol changes, SGP is primarily used to express governance opinions within the ecosystem. Proposals must receive at least 15% support from the total staked network before entering the formal voting phase.

The non-profit organization Ethereum Institutional has announced its establishment, positioned as the "institutional-level unified entry point" for the Ethereum ecosystem, focusing on connecting large financial institutions worldwide with the Ethereum network, promoting the institutional adoption of on-chain financial infrastructure. The organization has received funding support from investors including Bitmine, Sharplink, and Ethereum co-founder Joe Lubin.Ethereum Institutional states that its core goal is to provide a "trustworthy and neutral interfacing layer" during the critical window for accelerating the layout of tokenized assets, stablecoins, and on-chain market infrastructure in global financial institutions, helping institutions connect with the Ethereum ecosystem throughout the entire process from evaluation and testing to large-scale deployment.