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Nine major banks, including ING, UniCredit, Danske Bank, CaixaBank, SEB, and Raiffeisen, have launched a consortium to issue a euro-backed stablecoin under MiCA, with a planned rollout in H2 2026.
This technical chart provides a detailed look at every action a smart contract can take on an Ethereum Virtual Machine blockchain, including basic math, transactions, and memory management.
Over the next few years, several crypto companies are expected to go public, including BitGo next month, Ripple potentially in 2026, and Consensys in 2027.
Wasabi Protocol saw a 75% TVL jump when it integrated as a miniapp into the upcoming Base App.
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Sebastian Thrun - who led Google X and Udacity - is taking the stage at London Blockchain Conference 2025 [4] to connect lessons from building self-driving cars to autonomous blockchain economies. And he's just one of many amazing speakers [4].
The Commodity Futures Trading Commission is launching an initiative to allow stablecoins as tokenized collateral for margin requirements in the derivatives market, with acting chairman Caroline Pham calling collateral management the "killer app" for stablecoins in markets. Pham continues advancing crypto policy as part of her "crypto sprint" while President Trump's nominee Brian Quintenz remains delayed in confirmation, working alongside SEC Chairman Paul Atkins to integrate digital assets into traditional financial infrastructure. The CFTC is seeking industry input until October 20 on implementing tokenized collateral policies, with support from Circle, Coinbase, and Ripple executives, following the recent President's Working Group report recommending CFTC guidance on tokenized non-cash collateral adoption.
USDH, issued by Native Markets, has officially launched on Hyperliquid with a USDH/USDC spot market and ~$2.2M in early trading volume. Backed by cash and short-dated Treasuries, USDH was selected through Hyperliquid's validator-run process, where Native Markets beat out Paxos, Frax, and others. Reserves will combine offchain management with onchain transparency via oracles, while a portion of reserve earnings will fund HYPE buybacks.
Morgan Stanley is preparing to launch crypto trading for retail customers through E-Trade in the first half of 2026, partnering with startup Zerohash for liquidity, custody, and settlement services while taking an investment stake in the company. The Wall Street giant will initially offer direct ownership of BTC, ETH, and SOL rather than third-party managed funds, allowing clients to cut management fees while taking on greater risks as the bank develops its own custody wallet for digital assets. Wealth management head Jed Finn called crypto trading "the tip of the iceberg," emphasizing that tokenization of traditional financial assets, including cash, stocks, bonds, and real estate, will significantly disrupt the wealth management industry by enabling immediate interest payments and improved efficiency.
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As the internet becomes real life, societies must insist on openness (free, auditable code/designs) and verifiability (users can prove systems behave correctly) across software, hardware, and biotech. This matters in health, personal/commercial tech, and civic infrastructure, where closed stacks create monopoly power and opaque risks. A world of open, formally verified OSes, secure open hardware, on-device AI, privacy-preserving cryptography, and public-inspectable sensors delivers both security and local sovereignty. The crypto ecosystem should prioritize a fully open and verification-friendly stack for high-security, non-performance-critical applications, then expand outward.
Coinbase's new x402 protocol introduces a standardized way for servers to signal that a payment is required using the long-unused HTTP 402 code. Unlike human-facing paywalls, x402 is machine-readable, enabling AI agents and other automated systems to detect and process payments directly. Instead of card details, agents can authorize stablecoin transfers via cryptographic signatures, which are then routed through a new entity called a “Facilitator” (similar to a merchant acquirer) to post payments on-chain. This unlocks a new use case for stablecoins as native internet money, allowing bots, APIs, and AI systems to autonomously pay for services, data, or content online.
Perp traders are ruthless. Liquidity and users jump to whatever venue offers the best fills, incentives, and UX, hence the rapid rotations from dYdX to GMX to Hyperliquid. Other DeFi verticals turn over more slowly. Aave still leads lending, Uniswap spot, and Lido staking. Expect the top perp DEX to keep changing hands, even as leaders in other categories remain sticky.
Vitalik Buterin has, for the first time, explicitly declared DeFi as Ethereum's killer app, marking a significant shift from his previously withheld praise for crypto financial applications due to his exceptionally high standards requiring broad global impact and unambiguous societal good. Five financial primitives – holding, trading, lending, borrowing, and issuing – make quality banking services globally and permissionlessly accessible rather than limited to geographic elites. The endorsement comes as Ethereum's metrics show significant scale: ETH at $540 billion market cap, DeFi assets at $500 billion, DeFi TVL at $100 billion, and Ethereum L1 scaling from 20 TPS to 10,000 TPS and L2s from 3,000 TPS to 1 million TPS, positioning Ethereum as the most credibly neutral chain for long-term asset storage and the foundation for more impactful DeFi primitives like credit systems.
Active USDe loans on Aave have increased by ~$1.4B since the start of 2025, highlighting growing demand for stablecoin borrowing in DeFi.
The US will push stablecoins as global settlement rails tied to Treasuries, but many nations will instead favor gold.
Prediction markets thrive on data, speed, and resolution, exactly where AI excels.
In less than a week, over $20 million USDC has been deposited into the product, all earning over 10%.
Bitcoin is consolidating below $113K as traders await Fed Chair Jerome Powell's speech and Friday's core PCE inflation data, which could shape Q4 momentum. Analysts flagged $115,200 as a key support holding above opens the door to retesting highs, while a break lower risks a slide to $105K. After last week's $1.7B leverage flush, liquidity has returned, whales are accumulating, and options demand is clustering around $120K–$125K calls, setting up Powell and PCE as critical near-term catalysts.
Patrick Witt, Executive Director of the White House Council of Advisors on Digital Assets, said he expects the sweeping crypto market structure bill to pass before the end of 2025. The legislation includes the CLARITY Act and the Responsible Financial Innovation Act, which establish a comprehensive U.S. framework for digital assets, dividing oversight between the SEC and CFTC.
Kalshi's Crypto Pre-Markets let users speculate on events tied to pre-token projects, like whether PumpFun, OpenSea, Monad, or Hyperliquid will launch tokens or conduct airdrops. This opens up tradable exposure to topics that currently lack direct markets, similar to how Pendle drove adoption via points speculation. Prediction markets are increasingly becoming a central venue for crypto-native speculation before tokens exist, giving traders a way to price in early probabilities.
x402, the open standard for onchain agentic commerce created by Coinbase, will become controlled by an independent foundation called the x402 Foundation. The foundation will be co-founded by Coinbase and Cloudflare – one of the largest internet infrastructure providers who recently announced an agentic pay-per-crawl option for websites – with more partners to be announced soon. Creating a foundation is a significant step toward making the standard truly open and neutral and achieving the same relevance and scale as HTTP or DNS.
Kalshi and Polymarket dominate 99% of the prediction market landscape. Kalshi captured 63% market share in early September due to a surge in sports prediction activity. Both platforms actively court builders with different approaches, targeting crypto Twitter communities and DeFi ecosystem developers. Five product categories are emerging across the ecosystem: DeFi protocols enable lending and borrowing against prediction market positions, with projects like Gondorfi building AAVE-style infrastructure and Flipr creating leverage trading platforms; analytics and aggregator tools include Polysights for AI-enabled dashboards with insider detection, Betmor for trading terminals, and Poly Data for comprehensive market analytics; perps products allow users to long/short everything from pre-IPO companies to quantified public perception and mindshare trends, and AI applications like Sportstensor's Almanac delivering 72% ROI on MLB bets and SIRE turning football footage analysis into trading insights; and niche prediction markets feature decentralized market creation, gamified experiences, and specialized focus areas.
Fluid DEX maintains a structural advantage in non-volatile pairs like USDC-USDT through a unique Smart Debt feature that turns normal borrowers into passive liquidity providers by allowing debt to be denominated as DEX pool shares rather than single assets, reducing borrowing costs by up to 1.15% APY and creating deeper liquidity than EulerSwap's market maker-only approach. The data supports this advantage with Fluid ranking as the #2 DEX on Ethereum with $600 million daily volume versus EulerSwap's #11 ranking with $25 million daily volume, both driven primarily by non-volatile pairs, while Fluid's unified liquidity layer pools assets across all markets compared to Euler's fragmented vault structure. Gas efficiency creates another significant barrier for EulerSwap on Ethereum mainnet, with Fluid swaps consuming around 140k gas through simple borrow/repay operations versus EulerSwap's 390k gas requirements due to oracle calls, health checks, and vault limit verification. However, EulerSwap's permissionless vault architecture positions it strongly for long-tail assets, new stablecoins, and DAO tokens where flexibility matters more than liquidity depth, with both platforms ultimately solving different problems rather than directly competing for the same markets.
Aerodrome has distributed $1 of revenue to $veAERO voters for every $723 in trading volume, a model that would have paid out $4.3B if applied to Uniswap's $3.1T in 5-year volume. For comparison, that equals 88% of UNI's current market cap. However, Uniswap has returned nothing to token holders. In the past 30 days alone, Aerodrome distributed $35M to voters, outpacing the combined revenue of PancakeSwap, Curve, and Jupiter.
Pendle users often target longer-duration principal tokens (PTs) for fixed yields, but pre-token generation event demand for yield tokens (YTs) can create attractive opportunities in shorter-term PTs. When traders buy YTs, their price rises, pushing down PT prices and boosting PT fixed yields. As shown with USDe pools nearing maturity, PTs with just two days left were offering extreme yields (15–25%), thus short-duration PTs can sometimes provide outsized returns if YT demand spikes near expiry.
Jack Dishman, founder of Base-based token launchpad Clanker, rejected Rainbow Wallet's offer to acquire the platform in exchange for 4% of its upcoming RNBW token supply.
Clothing retailer Ralph Lauren now accepts crypto payments via BitPay, primarily in its Miami flagship store.
The SEC will create an ‘innovation exemption' for crypto firms by the end of 2025 to encourage growth and continue to move away from the regulation-by-enforcement approach of the previous administration.
21Shares has launched its Dogecoin ETF (TDOG) on the Depository Trust & Clearing Corporation.
China's securities regulator (CSRC) has informally advised some domestic brokerages to halt their real-world asset (RWA) tokenization business in Hong Kong, citing risk management concerns. The move comes as Hong Kong positions itself as a global hub for digital assets, with 77 firms expressing interest in stablecoin licenses, even while Beijing maintains a cautious stance. The CSRC's pause reflects worries about firms making claims without sufficiently strong backing, amid a booming RWA market that could reach $2 trillion by 2030.
A teenage hacker named Noah Urban from the cybercriminal gang Scattered Spider, along with an accomplice called Jack, successfully gained access to a Crypto.com employee account through phishing attacks targeting telecommunications, technology, and cryptocurrency company staff. The breach occurred before March 2023, when Urban was targeted in an FBI raid that seized $4 million worth of cryptocurrency plus hundreds of thousands in cash and jewelry. Urban was later arrested in January 2024 and sentenced to 10 years in prison after pleading guilty to involvement in hacks of 13 companies. Crypto.com confirmed to Bloomberg that the breach affected "a very small number of individuals" with no customer funds accessed. Blockchain sleuth ZachXBT criticized the exchange for failing to disclose the breach and noted that it has been breached several times.
Plasma One is a stablecoin-native neobank and card that addresses the friction in current stablecoin usage, where people globally rely on generic crypto wallets and struggle with cash conversion. Targeting markets like Istanbul, Buenos Aires, and Dubai, where exporters, store owners, and traders use USDT for trusted currency access, the application offers spending directly from stablecoin balances while earning 10%+ yields, up to 4% cash back rewards, borderless coverage across 150+ countries and 150 million merchants, zero-fee USDT transfers, and fast onboarding with virtual cards available in minutes. Plasma One serves a dual purpose as both a distribution mechanism to provide financial inclusion for underserved markets and as a testing ground for Plasma's onchain payments infrastructure. It will allow the team to iterate quickly and prove their technology under real demand before offering it to external institutions and developers.
Prediction markets like Polymarket let users bet on real-world events, from elections to crypto prices, and earn if their predictions are right. Built on blockchains like Polygon, they're decentralized (no single company controls funds), transparent (all bets are on-chain), and easy to access using stablecoins like USDC. Smart contracts handle payouts automatically, while oracles feed real-world data to settle outcomes, making them a fast-growing onchain use case.
The Federal Reserve's 25 basis point rate cut, accompanied by guidance for further easing, has bolstered risk-on sentiment and created a supportive environment for risk assets in the near term through this dovish monetary policy stance. Digital Asset Trusts are showing signs of mid-to-late cycle maturation as market Net Asset Values compress and confidence wavers despite new product launches, indicating that premiums are increasingly dependent on overall market momentum rather than fundamental value propositions. Ethereum is experiencing improved demand dynamics coupled with constrained sellable supply, as the Kiln-driven exit queue is temporarily trapping staked ETH and creating long-biased positioning in the market. The potential introduction of a Base token is under consideration, which could have significant implications for the Coinbase L2 ecosystem and broader market dynamics.
Trading bot wallets on Solana have reduced their SOL holdings by 435K tokens (~$96M) over the past six weeks, marking a 24.6% decline. The sharpest drop came from Axiom, down to 390K SOL, while Photon and GMGN also saw significant decreases. This shift suggests bots may be deleveraging or reallocating capital, raising questions about liquidity dynamics in Solana's high-frequency trading ecosystem.
New college graduates are struggling to find traditional entry-level jobs as AI encroaches on sophisticated positions earlier than expected, creating more free time and a greater desire for creative monetization methods, including increased financial market participation, entertainment financialization, and expanded online creation opportunities. Crypto provides optimal infrastructure for these emerging earning models through inexpensive global money rails that create near-limitless customer reach, with anyone able to build and earn using just a wallet and internet connection, regardless of age or location. Companies like Zora enable creator monetization tools, Remix helps gamers create and distribute monetizable games, and The Clearing Co expands tradable market options, demonstrating the wide-open design space for products helping people earn online through content, ideas, investments, and entertainment.
Aave's liquidation systems functioned smoothly across 14 networks despite today's sharp crypto market downturn.
MetaMask's new mUSD stablecoin, issued through Stripe's Bridge and backed 1:1 by liquid dollar-equivalent assets, has grown from $15M to $65M in supply within a week of launch.
Ethereum leads the stablecoin market with $167B market cap, up 12.3% over 30 days, representing 58.7% market share (+5.45% growth).
The crypto market saw $1.7 billion in liquidations over 24 hours, with $1.62 billion coming from longs and $1.09 billion wiped out in just four hours.
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Twelve Senate Democrats, including Kirsten Gillibrand and Cory Booker, called for a bipartisan authorship process on the Clarity Act, arguing they should help draft the crypto market structure bill rather than merely comment on a GOP-led version. Their framework seeks stronger CFTC authority over spot markets, bans on elected officials profiting from crypto projects, and expanded funding for regulators.
The U.S. Treasury Department is inviting public feedback on its implementation of the GENIUS Act, the first federal crypto-specific law regulating payment stablecoins. Officials are seeking input on open questions, including tax treatment, foreign issuer participation, marketing restrictions, and how to balance state vs. federal oversight with BSA/AML compliance. Comments close on October 20, as the department prepares formal regulations following the law's passage under President Trump this summer.
Proximarket allows users to bet on markets with more than simple binary outcomes. It uses embedding models for semantic similarity and pays out proportional to the accuracy of a user's prediction, making markets around news headlines, Elon tweets, and future words possible. It was built in a week and is still in testing stages.
The Ethereum Foundation's dAI Team aims to make Ethereum the preferred settlement and coordination layer for AIs and the machine economy. It is focusing on the AI Economy on Ethereum that provides AI agents and robots payment, coordination, and governance capabilities without intermediaries, and a Decentralized AI Stack ensuring AI's future doesn't depend solely on centralized entities. The team will collaborate closely with Protocol and Ecosystem teams to link protocol improvements with AI builder needs while funding innovative public goods, continuing work on the ERC-8004 standard for AI agent identity verification and trustworthiness proofs. The initiative operates under the principle that Ethereum makes AI more trustworthy while AI makes Ethereum more useful, as intelligent agents require neutral base layers for value and reputation while Ethereum benefits by becoming that infrastructure layer and AI escapes lock-in to centralized platforms.
Hybrid dApps solve the fundamental problem of TON's 1 billion Telegram users being locked out of EVM's rich application ecosystem by running Solidity smart contract logic behind native TON user experiences, allowing users to interact through familiar TON wallets and Telegram interfaces without knowing complex EVM machinery operates behind the scenes. The three-layer architecture consists of standard TON/Telegram frontends, TAC infrastructure with distributed sequencer networks and automatic asset bridging, and existing Solidity contracts running on TAC EVM with full access to battle-tested DeFi primitives and mature tooling. Users connect TonKeeper wallets using standard TON Connect patterns while the TAC SDK handles all cross-chain complexity, including token locking, bridging, and address translation, with native TON and jettons automatically working as ERC-20 tokens on the EVM side. The system enables developers to deploy once and serve both EVM and TON users from day one, leveraging proven Solidity contracts without rewrites while providing unified liquidity flows and network effects, with transactions feeling completely native to TON users despite complex cross-chain operations involving consensus, asset bridging, and smart contract execution happening transparently in the background.