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Publicly traded asset management firm Caliber has acquired $6.7 million worth of Chainlink (LINK) to establish a digital asset treasury, choosing it over other popular crypto assets like Bitcoin and Ethereum. The firm's CEO, Chris Loeffler, stated that Chainlink was the obvious choice due to its institutional adoption and utility for their business operations. The strategy not only involves accumulating LINK but also integrating the Chainlink network to bring valuable off-chain data, such as real estate valuations, on-chain. This is expected to automate complex processes, reduce operating costs, and provide greater transparency to investors.
Caliber believes that using Chainlink's oracle network will allow them to securely and transparently automate their quarterly asset valuations by pulling in real-world data points like comparable sales and vacancy rates. This move is part of a larger plan to leverage blockchain technology to improve their business. To achieve this, the firm is seeking to hire a key person with a background in real estate tokenization and blockchain. Loeffler also noted the positive reception from the Chainlink community, who were excited by Caliber's plan to not only hold LINK but also actively use the technology within its business. Source
In a recent blog post, Ethereum co-founder Vitalik Buterin argued that low-risk decentralized finance (DeFi) protocols could provide economic stability for the Ethereum network, similar to how Google Search is the primary revenue engine for Google. Buterin addressed a "disjointness" in the community, where revenue-generating applications like speculative trading and NFTs often clash with Ethereum’s core cultural values of decentralization and open-source development. He proposed that low-risk DeFi applications, such as stablecoin lending with moderate interest rates, can generate sustainable fees without compromising the network's ethical and cultural ethos.
Buterin contrasted this model with Google, which, despite having many valuable products, relies heavily on advertising revenue, a model that incentivizes data hoarding and conflicts with its positive-sum ethos. He contends that Ethereum’s decentralized structure allows it to do better by aligning financial success with ethical outcomes, as the revenue generator—low-risk DeFi—is in harmony with the community’s goals of providing global, permissionless access to financial services. Buterin also suggested that beyond U.S. dollar-pegged stablecoins, other innovations like currency basket-tracking crypto assets and flatcoins could further support the network. Source
Tidal Financial Group has filed an application with the U.S. Securities and Exchange Commission (SEC) for a leveraged exchange-traded fund (ETF) called the "Quantify 2X Daily AltAlt Season Crypto ETF." This proposed fund is part of a series of filings that aim to provide risk-tolerant investors with two times the daily returns of the underlying cryptocurrencies. What makes the "AltAlt" fund unique is its strategy of excluding both Bitcoin and Ethereum, focusing instead on other altcoins like XRP and Solana. The term "AltAlt Season" refers to a market cycle when activity and capital rotate from major cryptocurrencies like Bitcoin and Ethereum into mid-sized and smaller-cap altcoins, a phenomenon the fund seeks to capitalize on.
The proposal also includes two other funds: a "Quantify 2X Daily Alt Season Crypto ETF," which would exclude only Bitcoin but include Ethereum, and a "Quantify 2X Daily All Cap Crypto ETF" that would include all three—Bitcoin, Ethereum, and other altcoins. All three leveraged funds are designed to be high-risk investment vehicles and may use a combination of swap agreements and option contracts on shares of U.S.-listed spot crypto ETFs to gain exposure. The filing is a sign of the increasing creativity and variety in proposed crypto-focused financial products as issuers respond to growing investor demand and a more receptive regulatory environment. Source
The debut of AxCNH, a regulated stablecoin pegged to the offshore Chinese yuan, and KRW1, a stablecoin backed by the Korean won, signifies a growing global trend among governments to digitize their fiat currencies. These stablecoins are overcollateralized, meaning they are fully backed by fiat reserves or government debt instruments held in custody. The goal is to make cross-border transactions faster and more efficient, bypassing the slow and expensive traditional financial systems, which is particularly beneficial for initiatives like China's Belt and Road.
The article explains that stablecoin issuers, like Tether and Circle, play a crucial role by purchasing a significant amount of government debt instruments to back their digital tokens. This essentially allows individuals globally to become indirect bond buyers, increasing demand for government debt and helping to manage government-issued debt burdens. For example, Tether has become one of the largest holders of US Treasury bills, surpassing the holdings of several developed countries such as Canada, Germany, and Norway. This happens as the US national debt has recently surpassed $37 trillion. Source
A recent report has linked a previously undisclosed data breach at Crypto.com to the Scattered Spider hacker collective, though the company has confirmed it was a limited incident with no loss of user funds. According to a Crypto.com spokesperson, the breach exposed a small amount of personally identifiable information from a limited number of users. The breach was quickly contained, and the company maintains that customer funds were never at risk. The investigation traced the security incident back to a phishing campaign that targeted a Crypto.com employee in 2023.
The alleged perpetrator, a teenager named Noah Urban, was part of the Scattered Spider group and reportedly used social engineering tactics to impersonate staff and gain access to internal systems. This incident was part of a larger crime spree by the collective, which has targeted over 200 companies using methods such as SIM-swapping and phishing to bypass security. Urban has since been indicted, pleaded guilty to wire fraud and aggravated identity theft, and was sentenced to a decade in prison. The company stated that it reported the incident to regulators at the time and that any suggestion of non-disclosure is unfounded. Source
Markethive is launching an innovative initiative with its Hivepress system, a platform designed to transform the digital publishing and press release industry. The core of this initiative is the "Franchive" model, which operates like a digital franchise, allowing Markethive members to create and run their own independent news sites. These Franchives will have unique domains and IP addresses, enabling individuals to become independent publishers without the traditional costs and complexities. The Hivepress system will serve as the central hub for press releases and sponsored articles, which are then distributed across the network of Franchive sites. This broad distribution and the ability to accept payments for content will provide a consistent revenue stream for site owners.
This system is built on a collaborative and profitable model, where a predetermined commission is disbursed to the individual Franchive owner for each press release or sponsored article published. The article highlights the potential for exponential growth, projecting that a small percentage of Markethive's membership could result in hundreds of thousands of active news sites. Beyond the revenue from press releases, Franchive owners have the autonomy to sell their own advertising, such as banner and video ads, and keep 100% of the profits. The system also offers flexibility in payment methods, including credit cards, PayPal, Bitcoin, and Markethive's own cryptocurrency, Hivecoin, with discounts offered for HVC use. For a one-time fee of $500, Markethive provides SEO services and a steady stream of syndicated content to support the success of each Franchive. Source
Businesses in Bolivia, including major international vehicle manufacturers like Toyota, Yamaha, and BYD, are increasingly accepting Tether (USDT) for payments due to a significant shortage of US dollars in the country. This move marks a major step in the Latin American nation’s crypto adoption. The country’s foreign exchange reserves have plummeted, pushing local businesses and individuals to seek more stable alternatives to the Bolivian boliviano, which is also facing fears of losing its purchasing power. Dealerships are displaying signs promoting USDT as an easy, fast, and safe payment method, with security firm BitGo partnering with Tether and Toyota Bolivia to ensure smooth and secure transactions.
This shift follows Bolivia lifting its long-standing crypto ban in June 2024, which allowed banks to process cryptocurrency transactions. Since then, crypto adoption has been accelerating, with the state-owned oil company YPFB authorized to accept crypto for fuel imports and airport shops pricing items in USDT. Additionally, businesses that import products are using USDT to navigate the dollar shortages by converting stablecoins into US dollars to pay overseas suppliers, creating a circular economy where products are then listed in USDT. The country is set for an election run-off in October, with one candidate proposing to use blockchain technology to increase transparency. Source
Metaplanet, a Tokyo-listed investment firm, has solidified its position as a major player in the corporate Bitcoin space with a recent acquisition of 5,419 BTC, bringing its total holdings to 25,555 BTC. This purchase, valued at approximately $633 million, vaults the company into the top five publicly listed Bitcoin holders globally. The acquisition was primarily funded through a $1.45 billion international share offering and puts Metaplanet at 85.2% of its year-end target of 30,000 BTC. The company's strategic focus on a Bitcoin-centric treasury operation has become its main driver of growth and is generating consistent revenue and net income.
Metaplanet’s aggressive accumulation strategy, which began in April 2024, has been influenced by a desire to hedge against economic challenges in Japan and capitalize on Bitcoin's potential as a long-term store of value. The company has also achieved impressive BTC yield metrics, demonstrating its ability to grow its Bitcoin per share. As Metaplanet continues its path toward its long-term goal of holding 100,000 BTC, its strategy is being watched as a potential model for other corporations in the Asia-Pacific region looking to integrate a Bitcoin-native approach into their financial operations. Source
According to venture capitalist Balaji Srinivasan, traditional economies in developed nations are being supplanted by an "internet-first" economy driven by technology and online platforms. He highlights a notable divergence in performance between the "Magnificent Seven" tech stocks, which have seen explosive growth, and the remaining companies in the S&P 500, which have remained stagnant since 2005. Srinivasan suggests that since the 2008 financial crisis, all commerce and communication has moved online, and the next stage of this shift will involve internet-native economies, cities, and governments. He is a proponent of "network states," online communities that may one day replace traditional nations and will require cryptocurrencies as their native form of money.
This shift to an internet-first world is seen as a new, pivotal moment in human history, akin to the Industrial Revolution, with blockchain and AI disrupting legacy systems. While traditional governments and financial institutions have been slow to adapt, U.S. regulators are now pushing for the integration of these new technologies. For example, the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) are looking to transition to a 24/7 financial market to align with the always-on nature of crypto trading. Furthermore, the U.S. government has begun using blockchain technology to publish economic data, which increases budget transparency and accountability. Source
The United Arab Emirates has signed an international agreement to implement automatic crypto tax reporting with global authorities, following an earlier announcement in late 2024. The agreement, known as the Crypto-Asset Reporting Framework (CARF) from the Organization for Economic Cooperation and Development (OECD), will see the UAE begin to share tax-related information on crypto asset activities with international tax authorities in 2028, with new compliance rules taking effect for crypto firms in 2027. This move is part of the country's ongoing effort to position itself as a major hub for digital assets while aligning with global tax transparency standards.
To ensure the new framework is effective and aligns with market needs, the Ministry of Finance has opened an eight-week public consultation. The consultation, which runs through early November, invites all crypto industry stakeholders, including firms, service providers, and others, to provide feedback and recommendations. Industry experts have welcomed the development, noting that it will bring greater legal clarity and certainty to the crypto market, boost trust with regulators, and help attract institutional investors to a well-regulated ecosystem. Source
The Ronin Network has announced that its treasury will begin a buyback program for its native token, RON, starting September 29. Over the course of a month, the treasury will convert its entire holdings of Ether (ETH) and USDC, valued at approximately $4.6 million, into RON. This initiative is designed to decrease the circulating supply of RON, which could potentially lead to an increase in its market price. The Ronin team has stated that this strategic move is intended to better align the interests of its ecosystem, tokenholders, and developers as the network transitions into a full-fledged Ethereum layer-2 solution.
The funds for the buyback have been accumulated from fees generated by various platforms within the Ronin ecosystem, including the Katana DEX, Ronin Market, and the Ronin Name Service. The planned buyback is set to reduce the current circulating supply of RON by about 1.3%. The team has also clarified that the treasury has no intentions of selling any of the repurchased tokens, indicating a long-term commitment to supporting the token's value. This development follows the network's previous announcement to "come back" to Ethereum after having originally launched as a separate sidechain in 2021. Source
For Web3 to achieve mass adoption, it must work in collaboration with Web2's existing infrastructure, not seek to completely replace it. Many Web3 proponents advocate for tearing down Web2 systems, but this approach is neither practical nor beneficial for short-term growth. The complexity and perceived risk of Web3 technology have created a "trust paradox" that makes the general public hesitant to abandon familiar Web2 applications. A gradual integration, rather than a forced overhaul, is the most effective way to build public trust and accelerate mainstream acceptance.
Collaboration is already happening, with major Web2 companies like PayPal, Visa, Amazon, and Google incorporating crypto and blockchain services into their offerings. Web3 developers should take a similar approach by creating products that are both decentralized and user-friendly, with sleek interfaces and simple accessibility. The focus should be on demonstrating the practical benefits of Web3 tools, such as using blockchain to immutably track data for AI models to verify its origin. The most successful ventures will be those that use Web3 to solve real-world problems, rather than simply promoting a new ideology. Source
Disclaimer: These articles are provided for informational purposes only. They are not offered or intended to be used as legal, tax, investment, financial, or any other advice.
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