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Ethena said it has entered into an institutional lending partnership with crypto prime broker FalconX. Under the partnership, Ethena will provide overcollateralized stablecoin loans to FalconX using part of its institutional lending capital.

Saturn announced plans to work with Ondo Finance (ONDO) to use institutional-grade tokenized assets in structured products based on Strategy’s perpetual preferred stock STRC. As part of the partnership, Ondo also made a strategic investment in Saturn, although the size of the investment was not disclosed.

An anonymous whale bought an additional 40,000 HYPE worth about $2.3 million on Coinbase, Onchain Lens said. The whale has accumulated a total of 260,000 HYPE worth about $15.1 million over the past two months on Coinbase, Bybit and other platforms.

An anonymous whale transferred 213,810 LINK worth about $1.87 million to a Gnosis Safe wallet, according to Onchain Lens. The whale withdrew the same amount of LINK from Binance two weeks ago.

Nakamoto posts $149.1M operating loss in Q2

Crypto industry revenue fell 23% year over year to $47 billion in the first half, according to crypto investment firm 1kx. Exchange, derivatives and market-maker revenue declined by $5.2 billion, while on-chain DeFi revenue fell by $1.8 billion, down 32%. ETF and fund management fees also dropped by $1.1 billion. Staking and mining rewards decreased by $6.2 billion, and transaction fee and maximal extractable value revenue was cut in half. Blockchain’s share of total industry revenue fell to a record low of 25%, the firm said.

Commodity-backed tokens’ market cap rises to $5.9B, up 481% on year The market capitalization of commodity-backed tokens has reached $5.87 billion, up 481% over the past year. Gold-backed tokens are leading the market, with XAUT at around $3.7 billion and PAXG at around $2.4 billion, accounting for about 95% of the total, according to Sentora. Sentora said "onchain gold is no longer experimental. It is functioning as a real trading and collateral asset."

Ether.fi, an Ethereum staking-based decentralized finance platform, has expanded the capabilities of its self-custody app, Decrypt reported. Users can trade tokenized assets, borrow against their portfolios as collateral, and use fiat accounts. The app allows users to trade stock tokens, metals and cryptocurrencies directly. It also offers an integrated market based on Aave on Optimism, the Ethereum scaling network, where users can lend assets or borrow funds against their holdings without selling them.

Riot Platforms sold 4,300 BTC to raise funds for operating expenses and data center expansion, BitcoinTreasuries reported. The publicly listed Bitcoin miner now holds a total of 11,380 BTC.

Swissquote (SQN) cut its full-year net revenue and profit outlook after weak cryptocurrency trading results in the first half, and the stock fell about 14% after the earnings release. According to Swissquote’s earnings report, net revenue from its crypto segment fell 66.2% from a year earlier to 14.6 million Swiss francs ($18.0 million) in the first half, while crypto trading volume dropped 63.5% to 2.58 billion Swiss francs. The company lowered its full-year net revenue forecast by about 30 million francs to 730 million Swiss francs and said the revised outlook reflects a weaker-than-expected crypto market environment. Swissquote also booked an additional 5.3 million-franc loss from marking down crypto inventory held to support its in-house exchange, SQX. Overall revenue was flat from a year earlier on growth in other business segments, while client assets rose about 20% to 96.3 billion francs.

Figure’s second-quarter revenue more than doubled from a year earlier to $226 million, while net income jumped 192% to $87 million, driven by rapid growth in its blockchain-based lending marketplace. Consumer loan volume rose 132% year over year to $4.3 billion in the second quarter, with Figure Connect, which links capital providers and loan originators, accounting for about 65% of the total. CEO Michael Tannenbaum said weekly loan applications topped $1 billion in July. Issuance of the yield-bearing stablecoin YLDS also increased sharply to $556 million, while the company’s acquisition of real estate lender Kiavi is proceeding smoothly with completion targeted for the second half of 2026.

The three major U.S. stock indices opened higher today. - S&P 500: +0.29% - Nasdaq: +0.12% - Dow Jones: +0.26%

Hardware wallet maker Trezor said on X that a security incident at a shipping provider exposed the personal data of 13,689 customers. Of that total, 11,742 had names, email addresses, phone numbers and shipping addresses exposed, while 1,947 had names, cities and email addresses disclosed. The affected users were new customers who received products in the United States, the UK, Sweden, Colombia, Brazil, Italy and Portugal during the 90 days before Aug. 8. Trezor said its own systems and devices remain secure and urged users to watch for phishing attempts that may misuse the leaked personal data.

CryptoInsightUK warned XRP could face further losses, with key downside targets at $0.88-$0.925 and a potential drop to $0.77 if selling pressure intensifies, according to The Crypto Basic. The analyst said XRP is showing a bearish structure with consistently lower highs and lower lows, while $0.93 remains the first key price level to watch.

On-chain data visualization platform Bubblemaps warned of risks tied to memecoin XST, which has been heavily promoted on TikTok. According to Bubblemaps, 74% of the token’s total supply is concentrated in a small number of addresses, pointing to very high centralization risk and characteristics typical of a rug-pull project. The token’s market capitalization currently stands at around $70 million, and Bubblemaps strongly urged investors to avoid the project and ignore related content even if it appears in TikTok recommendation feeds.

Lombard announced it will shift LBTC’s yield-generation model from Babylon Bitcoin staking to a covered-call options strategy managed by Bitwise, targeting a 2.5% annual net APY in BTC terms. Up to 60% of LBTC collateral assets will be allocated to the strategy, while the related Bitcoin will be held in custody by Anchorage Digital Bank and Kraken Institutional. Lombard plans to begin with a $10 million pilot allocation during the week of Aug. 17 and complete the full allocation in September. Existing LBTC holders do not need to take any action.

A Top7 analysis found that 41 major cryptocurrency services and companies generated more than $2 million in revenue over the past month, with Tether and Circle alone bringing in more revenue than the other 39 combined. The firms listed by Top7 were as follows: - Tether: $482 million - Circle: $192.5 million - Canton Network: $52.05 million, based on fund flows - Pump.fun: $37.88 million - GMGN.ai: $21.21 million - Polymarket: $17.2 million - Axiom Exchange: $16.27 million - Grayscale: $14.41 million - World Liberty Financial: over $10 million - Paxos: $8.58 million - Phantom: $6.02 million - DexScreener: $4.15 million - Jupiter: $3.81 million - Securitize: $2.75 million - Fidelity: $2.48 million

Neutrl said it has temporarily suspended minting, redemptions and other protocol functions after a situation emerged that affected its asset reserves. The DeFi protocol said the move was taken on the advice of its legal counsel as it works to address the matter, adding that it is assessing the exact scope of the impact and plans to provide users with a clear and orderly processing procedure in a future notice once details and next steps are finalized.

Bit Digital buys $20M in ETH in Q2

About 41.89 million ETH, or 34.7% of Ethereum’s total supply, is staked, marking a record high, according to Staking Rewards data. The total value of staked ETH stands at about $78.56 billion, while the staking yield has recently fallen 0.49% to around 2.6%. There are about 789,000 active validators.

SharpLink, one of the corporate holders of Ethereum, will stake $200 million worth of ETH in Lido, the largest liquid staking protocol on Ethereum. In return, the Nasdaq-listed company, trading under SBET, will receive wstETH, a token that reflects staking rewards, with the asset to be held in custody by institutional custodian Anchorage Digital. The move is intended to help SharpLink maintain its ETH exposure while generating additional on-chain yield and further diversifying its treasury. CEO Joseph Chalom described it as a step to diversify the company’s ETH assets more productively while maintaining institutional-grade risk standards. Kean Gilbert, head of Lido Institutional, added that the move represents a standard model for large institutions seeking to maximize ETH yield without giving up liquidity.

Garrett Jin, the BitForex founder accused of profiting from insider trading ahead of last October’s largest-ever forced liquidation event, opened a roughly $100 million BTC long position at an average entry price of $76,117, according to Arkham. The position is currently showing an unrealized loss of $16 million, and Jin has also paid $1.2 million in funding fees.

Strategy founder Michael Saylor outlined a “digital asset monetary spectrum” that classifies digital assets by volatility, return potential and transactional utility. In a post on X, Saylor described BTC as "Digital Capital," STRC as "Digital Credit," SR-strcUSX as "Digital Money," and USDT as "Digital Currency." He said volatility and return potential decline while stability and transactional utility rise as assets move from BTC toward USDT. Saylor added BTC serves as the ultimate store of value, while stablecoins such as USDT function as the ultimate medium of exchange, with digital credit and digital money linking the two.

Bullish said second-quarter revenue rose 62% from a year earlier to $92.6 million, while adjusted EBITDA climbed to $29.5 million from $8.1 million and adjusted net income improved to $14.3 million from a net loss of $6 million a year earlier. Digital asset revenue, however, fell to $23.6 billion from $58.6 billion, and the company posted a net loss of $280 million. Bullish plans to build an integrated platform supporting the full process for security tokens, from issuance, listing and trading to tracking, after completing its acquisition of securities services provider Equiniti.

UK FCA enters settlement talks with HTX over illegal crypto promotion suit The UK Financial Conduct Authority is in settlement talks with crypto exchange HTX, formerly Huobi, over a lawsuit alleging illegal financial promotions, Wu Blockchain reported, citing media outlet CNA. The FCA sued HTX in October last year, alleging the exchange violated crypto financial promotion rules introduced in 2023 and illegally promoted related services to UK consumers. London’s High Court has paused the case to allow both sides to reach a voluntary settlement by the end of August. Neither the FCA nor HTX has issued an official statement on the talks.