Avalanche · 1959

Avalanche changes hands, Ava Labs welcomes new president

Comparatively, John Wu, the former president of Ava Labs, announced a leadership change announcement on the X platform. He appointed Charley Cooper as the new president, Lydia as CFO, and became a senior advisor himself, continuing to focus on long-term strategic and institutional relationships. Charley Cooper has a background in the US Department of Defense, CFTC, and traditional financial institutions, combined with over ten years of blockchain experience, and is seen as the right person to drive Avalanche's next phase of growth. As of press release, according to the HTX market, AVAX's market capitalization was reported at US$2.77 billion, and its peak market capitalization was nearly US$30 billion in 2021.

3d ago

Wyoming moves FRNT stablecoin from LayerZero to Chainlink CCIP

Comparatively, the Wyoming Stablecoin Commission has migrated its issued Frontier Stable Token (FRNT) from LayerZero to Chainlink's cross-chain interoperability protocol CCIP, and will completely stop implementing the LayerZero token after completing a full security review. CCIP will be FRNT's sole cross-chain infrastructure under a multi-year contract. This is the first time that a US government entity has publicly changed blockchain infrastructure on security grounds. FRNT is currently the only stablecoin issued by a US public agency and backed by full fiat reserves. The reserve proceeds are used to support the state's school foundation projects. The tokens have been deployed on chains such as Ethereum, Base, and Avalanche, and the market capitalization is currently less than 1 million US dollars. The decision was released four months after Kelp DAO's LayerZero-based bridge was attacked and approximately 116,500 RSetH (worth about $292 million at the time) was stolen. The incident sparked a wave of industry security reviews and migrations. So far, nearly $15 billion of related assets have been transferred from LayerZero to Chainlink. Early migrators include Kelp, Solv Protocol, Re, Kraken, etc. BitGo then chose CCIP and completed the migration of approximately $7.7 billion of encapsulated bitcoins, bringing the total amount to the current level. Also, according to the LayerZero case study in January of this year, Wyoming operated its own decentralized verification network and controlled verification and compliance functions.

3d ago#On-chain dynamics

Ava Labs appoints Charley Cooper as president and John Wu as senior advisor

In comparison, Avalanche development company Ava Labs CEO Emin Gün Sirer announced a leadership change. Charley Cooper, as president of Ava Labs, will use operational discipline, regulatory experience, and institutional perspectives to drive the transformation of the technology foundation into broader global adoption. Former President John Wu became a senior advisor, and his judgment, connections, and business knowledge will continue to play a role. Lydia, who previously served in a temporary capacity, was officially named Chief Financial Officer. Emin Gün Sirer said his CEO role remains the same and will continue to lead Ava Labs' long-term vision to ensure that Avalanche becomes an advanced and reliable platform for developers, institutions and enterprises. He pointed out that the company already has the technology, team and opportunities, and the next step is to focus on execution.

4d ago

Securitize launches Neuberger Berman's first tokenized high-yield fund, HINC

In comparison, Securitize has launched the Neuberger Securitize High Income Tokenized Fund ($HINC), marking Neuberger Berman's first participation in a tokenized fund as a sub-advisor. The fund mainly invests in high-yield bonds and other fixed-income assets that can generate income, is open to eligible investors, and is simultaneously deployed on the four Avalanche, Ethereum, Solana, and Sui blockchains.

4d ago

Circle: The euro stablecoin EURC has surpassed 400 million euros in circulation and has become an important component of Europe's on-chain payment infrastructure

Comparing news, Circle officially announced that its euro stablecoin EURC circulation has surpassed 400 million euros and has become an important growth point for the Eurozone on-chain financial ecosystem. Circle said that EURC supply has increased by more than 100% over the past year, and EURC is moving from the experimental phase to the actual application phase as demand for compliant stablecoins increases in trading platforms, payment networks, and institutional businesses. EURC first launched on Ethereum in June 2022, then expanded to multiple blockchains such as Avalanche, Stellar, Solana, and Base. By the end of 2024, EURC had covered 5 chains, with a circulation volume of around 80 million euros, and continued to grow since then. Currently, EURC has been launched on many mainstream trading platforms such as Bitpanda, Bitstamp, Bybit, Coinbase, and Kraken, supporting EURC/EUR and EURC/USD trading pairs to further enhance the liquidity on the Euro chain. Circle said EURC's application scenarios are expanding from transactions to the fields of payments, settlement and institutional money management. Currently, fiat deposit and withdrawal service providers such as Mercuryo, MoonPay, Ramp, and Transak have enabled users to directly use the Euro to access digital assets, and institutional hosting and settlement platforms such as Cobo, Copper, and Fireblocks have also integrated EURC. Additionally, Visa and Mastercard have both previously expanded support for EURC settlement capabilities, making them usable for cross-border payments, card payment settlements, and enterprise-level fund transfer scenarios. With the full implementation of the European Union's Crypto Asset Market Regulation Act (MiCA), EURC operates according to the electronic currency token (EMT) standard, issued by Circle France's electronic money agency, and is regulated by the French Prudential Regulation and Disposal Authority (ACPR). EURC reserve assets are completely segregated from Circle's funds and confirmed by regular audits by an independent third party. As of January 2026, the total global supply of stablecoins is around $300 billion. Although dollar stablecoins still dominate, euro stablecoins have become the second largest category. The euro stablecoin market has grown from around €400 million in June 2025 to around €650 million in June 2026, with EURC maintaining its leading position. Circle said that despite EURC's growth, the euro stablecoin is still in its early stages compared to the Eurozone's M2 money supply of more than 16 trillion euros, and there is still plenty of room for future development in real-time settlement, cross-border payments, and corporate financial infrastructure.

4d ago#On-chain dynamics

AVAX One's second-quarter revenue increased more than fivefold year-on-year, holding 14.09 million AVAX

In comparison, AVAX One released financial and operating data for the second quarter of 2026. Revenue for the period reached 2.8 million US dollars, an increase of more than 5 times over 452,000 US dollars in the same period in 2025, including AVAX staking rewards of about 2.1 million US dollars and Bitcoin mining revenue of about 700,000 US dollars. Affected by changes in the market value of digital assets, the company's net loss for the second quarter was US$35.1 million, including US$29.75 million in unrealized digital asset losses and US$2.61 million in liquid collateral token depreciation; after excluding these non-cash items, the adjusted net loss was US$2.2 million. As of August 13, AVAX One held a total of 14.091 million AVAX and equivalents, of which about 800,000 have been deployed to Treehouse. About 95% of the assets are pledged, and the annualized yield is about 5.4%. The company repurchased approximately 144,800 shares in the second quarter, having previously repurchased approximately 417,500 shares since November 2025; at the same time, it plans to transfer approximately 100 kilowatts of idle Bitcoin mining capacity at the Redwater facility to AI inference business. The company maintains its full year 2026 guidance and expects revenue of $11 million to $12 million and EBITDA of $2 million to $3 million under current spot price assumptions. AVAX One is a digital infrastructure company (NASDAQ: AVX) listed on the US NASDAQ. Its core business includes establishing an Avalanche (AVAX) digital asset reserve, obtaining on-chain revenue through staking, operating Bitcoin mining facilities, and developing modular data centers and AI computing services.

8d ago

Robinhood Chain is hot, but is it profitable?

Source: Blockworks Research Authors: Ryan Graham and Sam Schubert Compiled and organized: BitPushNews highlights The crypto business is getting cold: Although Robinhood's overall performance hit a record high, its crypto business is shrinking. Q2 Crypto business revenue fell 38% year over year to $100 million, accounting for only 8% of total revenue; retail crypto trading volume fell 36% year over year, and the share of crypto assets in total custodian assets (AUC) also fell to a record low of 7%. Robinhood Chain (Robinhood Chain) started strongly: Robinhood Chain had one of the strongest starts of the L2 expansion network in recent years, generating $3.6 million in real economic value (REV) in July, accounting for 38% of all L2 chain revenues counted by growthepie, surpassing mature networks such as Polygon and Base. Meme coins dominated early activity: Meme coins, not real world assets (RWA), drove Robinhood Chain's early activity. Meme coins accounted for 51% of July spot trading volume, while RWA only accounted for 5%; and 48% of RWA trading volume occurred in the “Meme Coin + RWA” liquidity pool. Monetization opportunities lie in the application layer: Robinhood's clearest monetization opportunities lie above the infrastructure layer. USDG has generated around $10.5 million in annualized interest income; Morpho has proven the great value of direct distribution of Robinhood's main app; while Lighter only uses the Robinhood Wallet (Robinhood Wallet) partnership, accounting for only 0.2% of its total perpetual contract trading volume. The company's overall performance has yet to be boosted: Robinhood Chain is currently unable to substantially improve Robinhood's underlying performance. Its total known annualized revenue is only $54.8 million, which is equivalent to only 14% of Robinhood's annualized crypto revenue. For the Robinhood Chain to have a real impact, Robinhood needs to scale up USDG, monetize access to main apps, or use the chain as a traffic entry point to introduce high-value products. Robinhood's crypto business at the crossroads is probably no company that has managed to capture the rise of retail investors as successfully as Robinhood. It has become synonymous with retail investment, and its underlying business is booming as a result. In the second quarter of 2026, Robinhood reported quarterly revenue of $1.31 billion (a record high), up 32% year over year and 92% from Q2 2024. This strong momentum comes not only from its core stock and options trading business, but also from its ever-expanding product matrix. Robinhood now has 13 different lines of business, each generating more than $100 million in annualized revenue. In fact, almost all transaction-based business lines experienced double-digit year-on-year growth in the second quarter... well, with one exception: cryptocurrencies. The crypto business, which once accounted for more than one-third of Robinhood's revenue, has now shrunk to the point where it's almost negligible for the company. In the second quarter of 2026, only 8% of Robinhood's quarterly revenue came from cryptocurrencies, the lowest share since the third quarter of 2023. The crypto business's share of Robinhood's revenue pie has declined so much that event contracts (event contracts), which were only launched last year, generated more revenue in the second quarter ($156 million) than the crypto business ($100 million). This weakness goes far beyond the crypto business's declining share of Robinhood's revenue. Overall, its core user base is losing interest in cryptocurrencies. While the reason behind it isn't unique to Robinhood, the extent of its weakness is shocking. This is particularly evident in trading activities. In the second quarter of 2026, retail crypto trading volume on the Robinhood App was just $182 billion, down 36% year over year, to record...

9d agoWendy#Robinhood #Robinhood Chain #RWA #Robin Hood chain

The Japanese yen stablecoin issuer JPYC has completed a total of about 6 billion yen B-round expansion financing

Comparatively, JPYC, the issuer of the Japanese yen stablecoin, announced the completion of the B-round expansion financing, which raised a total of about 6 billion yen. The company said that the funds will mainly be used to expand the financial and Web3 ecosystem and accelerate the implementation of the Japanese yen stablecoin JPYC in social applications. According to the announcement, logistics company AZ-COM Maruwa Holdings Co., Ltd. participated in this round of investment. JPYC believes that the combination of stablecoins and logistics networks is expected to promote the integrated application of on-chain finance in commercial, logistics and capital settlement scenarios. Currently, JPYC has been issued on four blockchains: Avalanche, Ethereum, Polygon, and Kaia.

16d ago#financing

Grayscale Q2 adjusts multi-asset fund allocations, sells UNI, NEAR, and increases assets such as BNB

Comparatively, according to reports, Grayscale announced that it has completed regular rebalancing of its multi-asset digital asset funds in the second quarter of 2026 to adjust the asset weights of DeFi funds, smart contract funds, and decentralized AI funds. The DeFi fund DEFG Fund sells Uniswap (UNI) and reallocates the proceeds according to the weight of existing fund components. DEFG Fund holdings as of August 3 include: UNI 34.16%, Ondo (ONDO) 25.44%, Aave (AAVE) 19.97%, Ethena (ENA) 12.19%, Curve DAO Token (CRV) 4.42%, and Lido DAO (LDO) 3.82%. The smart contract fund GSC Fund sells some of its existing assets according to index rules and uses the funds to buy BNB. After adjustment, BNB became the fund's largest allocated asset, accounting for 30.6%. Other major holdings include Ethereum (ETH) 29.47%, Solana (SOL) 29.15%, Cardano (ADA) 4.88%, Hedera (HBAR) 2.08%, Avalanche (AVAX) 1.92%, and Sui (SUI) 1.9%. Decentralized AI funds sell NEAR Protocol (NEAR) and reallocate funds in proportion to existing assets. The fund's holdings as of August 3 include NEAR 31.35%, Bittensor (TAO) 29.15%, Render Token (RENDER) 21.59%, and Filecoin (FIL) 17.91%.

16d ago

Kenya chooses Avalanche to store national academic records to combat certificate forgery

According to Cryptopolitan, Kenya's National Examinations Board has begun writing the country's academic records into the Avalanche C-Chain to enable instant verification of online certificates, according to Cryptopolitan. Currently, more than 15 million records have been uploaded, and the system is expected to expand to approximately 35 million, covering middle school, high school, advanced diplomas, and teacher qualifications. Previously, verification of paper certificates took weeks to months, and there were problems with forgery. The project was implemented by a local technology company on the LegitDoc platform.

18d ago