Author: John Smith

Chilean crypto exchange Orionx began permanently closing its operations on Sept. 3 after a forensic audit identified a custody shortfall exceeding $7 million. Summary Orionx began permanently closing after an audit found over $7 million missing from custodial wallets. Customer withdrawals remain suspended while Orionx calculates balances and prepares its planned asset restitution process. Chile’s financial regulator rejected Orionx’s authorization application in June and never supervised the platform’s activities. Orionx filed a criminal complaint against two cofounders who have categorically denied the company’s allegations. Tether led Orionx’s Series A financing in June 2025, fifteen months before the closure announcement. The…

Demand for dollar-backed stablecoins can place downward pressure on national currencies when investors receive direct access through fiat trading pairs, according to research published by the Bank of Korea on Sept. 3. The effect appeared after Binance introduced trading between selected local currencies and stablecoins such as USDT and USDC. Summary Dollar-backed stablecoins transmitted buying pressure into exchange rates after Binance introduced direct fiat pairs globally. Local stablecoin premiums declined between 0.33 and 0.38 percentage points following Binance pair introductions overall. Korea showed higher stablecoin premiums but no measurable exchange-rate response without direct Binance pairing access. Market makers can sell…

Offchain Labs co-founder Steven Goldfeder and Solana co-founder Anatoly Yakovenko exchanged competing views on Sept. 6 over why Robinhood built its blockchain using Arbitrum technology instead of operating applications directly on Solana. Summary Offchain Labs co-founder Steven Goldfeder said Robinhood retains roughly 90% of net chain revenue generated. Solana co-founder Anatoly Yakovenko argued Robinhood could instead monetize users through application-level fees directly itself. Robinhood Chain routes 10% of net protocol revenue to the broader Arbitrum ecosystem under agreements. Eight percentage points go to Arbitrum DAO, while two support its developer guild funding program. Robinhood Chain recorded $6.04 million daily fees,…

NFT sales rose 55.6% to approximately $75.54 million over the past seven days, with BNB Chain overtaking Ethereum after recording more than $32.75 million in sales. Summary NFT sales increased 55.6% to $75.54 million, while transactions fell 14.77% to 650,332. Buyer addresses rose 20.38% to 273,655, and seller addresses increased 18.09% to 291,266. Ethereum sales fell 14.23% to $18.94 million despite an increase in buyer addresses. BNB Chain sales surged 1,042% to $32.75 million, making it the top-ranked network. Courtyard led collections with $6.32 million, while a BRC-20 NFT sold for 10 BTC. According to data from CryptoSlam, captured on…

U.S. spot Bitcoin and Ethereum exchange-traded funds attracted a combined $1.20 billion during the trading week ending Sept. 4, with Bitcoin products accounting for more than 80% of the total. Summary Spot Bitcoin ETFs recorded $986.7 million in weekly net inflows. Ethereum ETFs added $215.3 million, down sharply from the previous week. BlackRock’s Bitcoin funds attracted $691.5 million across the five sessions. The largest combined inflows arrived on Sept. 3 as crypto prices rebounded. Bitcoin ETF inflows approach $1 billion According to data from Farside Investors, U.S. spot Bitcoin ETFs recorded $986.7 million in net inflows between Aug. 31 and…

Robinhood Chain has set a daily fee record of $6.04 million, lifting its seven-day annualized revenue rate to approximately $1.1 billion as memecoin trading and token launches drive network activity. Summary Robinhood Chain generated $6.04 million in fees and retained $5.44 million in daily revenue. Seven-day revenue reached $20.33 million, equal to an annualized rate of roughly $1.06 billion. GMGN and Pons have become two of the largest application-level revenue sources on the network. Robinhood Chain recorded $1.71 billion in decentralized exchange volume over the latest 24 hours. Robinhood Chain daily fees reach $6.04 million DefiLlama data showed Robinhood Chain…

Robinhood Chain has recorded less than 1% of its analyzed transactions through a contract clearly linked to Robinhood Wallet users, according to ARK Invest research director Lorenzo Valente. Summary Less than 1% of analyzed transactions passed through the confirmed Robinhood Wallet swap route. Valente estimated Robinhood-linked activity could reach about 5% after including unidentified contracts. GMGN and OKX accounted for much of the remaining activity identified in the analysis. Robinhood Chain remains open to outside wallets, trading terminals and EVM-compatible applications. According to Lorenzo Valente’s analysis, contract-level data indicates that most trading on Robinhood Chain comes from existing on-chain traders…

Bitcoin price fell back below $80,000 after stronger-than-expected US employment data lifted Federal Reserve rate-hike expectations, while technical charts showed the rally had already met resistance near $82,500. Summary Bitcoin price traded near $79,600 after retreating from an intraday high around $81,370. US employers added 162,000 jobs in August, while unemployment remained unchanged at 4.1%. Daily resistance stands near $82,500, with 4-hour Supertrend support around $78,190. Liquidation clusters near $80,000 and $82,000 could shape Bitcoin’s next short-term move. Bitcoin price falls below $80,000 According to data from crypto.news, Bitcoin (BTC) price traded near $79,600 at the time of writing, down…

Bitcoin holders whose coins have remained dormant for more than five years have doubled their spending activity since May, pushing the cohort’s 90-day average to about 1,500 BTC. Summary Five-year Bitcoin holders’ 90-day spent-output average has climbed to approximately 1,500 BTC. Activity has doubled from its May level as Bitcoin continues to trade within a tight range. Spent UTXOs show that old coins moved, but they do not confirm sales. Coldcard-related security concerns may account for part of the increased wallet activity. Bitcoin OG activity doubles from May levels CryptoQuant analyst Darkfost reported that activity among Bitcoin’s oldest holders has…

Starknet lending protocol Vesu has reported that a faulty Pragma price feed triggered the abnormal liquidation of 47 positions holding $3 million in collateral on Sept. 4. Summary 47 Vesu positions were liquidated across several pools during a two-minute oracle failure. $3 million in collateral was affected before the Pragma price feed corrected itself. Vesu said its contracts worked as programmed and contained no protocol vulnerability. Vesu and other Starknet organizations are trying to recover funds for affected users. Vesu traces $3M liquidation to Pragma price feed Vesu said in a Sept. 5 incident disclosure that the liquidations occurred between…